LAS VEGAS, Sept. 23, 2021 (GLOBE NEWSWIRE) – Full House Resorts (NASDAQ: FLL) has submitted a proposal to the Indiana Gaming Commission (“IGC”) to develop and operate a new casino hotel in Terre Haute, Indiana . This proposal was in response to an application process initiated by the IGC on June 24, 2021 for a new casino in Vigo County, Indiana, with an application deadline of yesterday. Terre Haute is the capital of the district of Vigo.
The company’s proposal – a $ 250 million gaming and entertainment destination called American Place – would be developed on 32 acres of land it currently has under contract. The location is easily visible from Interstate 70 and convenient to the I-70 / SR 46 interchange. The location is approximately an hour west of Indianapolis and within 100 miles of Champaign-Urbana and Decatur, Illinois and Lafayette, Indiana.
The design proposed by Full House is unique in several ways. The hotel rises above an inner green landscape in a shape that resembles a “happy smile”. Most of the guest rooms are located on the upper floors and offer an extended view. On top of the hotel is a pool deck and restaurant overlooking the Wabash Valley. Along the busy neighboring freeway, Full House plans to build a large greenhouse that will provide a lush indoor environment. Inside the greenhouse, the project would have two restaurants that also serve outdoor dining in winter, as well as space for weddings and other group events. The world-class casino would be located between the hotel and the greenhouse and offer around 1,000 slot machines, 50 table games and a state-of-the-art sports betting offering. The company has planned a solar park at the casino that will cover part of the complex’s electricity needs with green, sustainable energy.
“After several years of studying Terre Haute and the surrounding communities, we believe we have designed a unique destination that Indiana residents will be proud of,” said Daniel R. Lee, president and chief executive officer of Full House Resorts. “American Place was designed as a premier entertainment facility that will bring new jobs and revenue to Terre Haute, Vigo County, and the state of Indiana.
“We have been licensed in good standing in Indiana for many years, where we own and operate the Rising Star Casino Resort and Rising Sun Golf Course, which opened in 1996,” said Lee. “This project would allow us to leverage our Indiana experience and database of cross-marketing opportunities with Rising Star. It will also provide career opportunities for our Rising Sun team members within Indiana while also allowing us to fill the new Terre Haute team with experienced Indiana gaming staff. “
Alex J. Stolyar, Senior Vice President and Chief Development Officer, added, “Since we began researching gaming opportunities five years ago, we have seen the zeal of the citizens of Terre Haute and Vigo Counties in world-class gaming -Destination to attract. We are happy to propose our revolutionary development to the residents and community leaders who have waited so patiently for us and supported us. “
About Full House Resorts, Inc.
Full House Resorts owns, develops and operates game facilities across the country. Company properties include the Silver Slipper Casino and Hotel in Hancock County, Mississippi; Bronco Billys Casino and Hotel in Cripple Creek, Colorado; Rising Star Casino Resort in Rising Sun, Indiana; and Stockmans Casino in Fallon, Nevada. Full House is currently building the Chamonix Casino Hotel and Spa, which will be adjacent to Bronco Billy’s Casino in Cripple Creek, Colorado. The company also operates the Grand Lodge Casino at the Hyatt Regency Lake Tahoe Resort, Spa and Casino in Incline Village, Nevada under a lease agreement.
Full House Resorts directors have been involved in the development of numerous iconic and successful casinos including: Treasure Island, Bellagio and Park MGM in Las Vegas, Nevada; Beau Rivage in Biloxi, Mississippi; The Borgata in Atlantic City, New Jersey; the L’Auberge and Golden Nugget casino hotels in Lake Charles, Louisiana; and the River City and Lumiere Place casino hotels in St. Louis, Missouri.
Further information on Full House Resorts can be found on the website www.fullhouseresorts.com and on the Facebook page www.facebook.com/FHResorts.
This press release contains statements by Full House and our officers that are “forward-looking statements” within the meaning of the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. “Anticipate,” “intend,” “plan,” “believe,” “project,” “expect,” “future,” “should,” “will,” and similar references to future time periods. Certain forward-looking statements in this press release relate to our expectations regarding the Vigo County Proposal, including its proposed and proposed amenities, our ability to obtain the casino license and, if we are granted such license, to obtain funding. Forward-looking statements are neither historical facts nor assurances of future performance. Because forward-looking statements address the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict, many of which are beyond the control of Full House. These risks include, without limitation, the potential for additional adverse effects, including the occurrence of variants, of the COVID-19 pandemic on our business, construction projects, proposed casino projects, debt, financial condition and results of operations; potential actions by federal, state or local government officials in connection with the COVID-19 pandemic, including but not limited to additional closings, travel restrictions, social distancing measures, or on-site housing orders; our ability to effectively manage and control expenses as a result of the pandemic; Construction risks, disputes and cost overruns; Dependence on existing management; Competition; Uncertainties about the development and success of our expansion projects; the financial performance of our completed projects and renovations; Inflation and its possible impact on labor costs and the prices of construction and other materials; the impact of potential disruptions in supply chains for goods such as food, wood and other materials; general macroeconomic conditions; and regulatory and business terms in the gambling industry (including the possible approval or expansion of gambling in the states or neighboring states we operate). Additional information about potential factors that could affect our financial condition and results of operations is included in Full House’s filings with the Securities and Exchange Commission, including, but not limited to, Part I, Item 1A. Risk Factors and Part II, Item 7. Management’s discussion and analysis of our financial position and results of operations of our Annual Report on Form 10-K for the most recent year and our other periodic reports filed with the Securities and Exchange Commission. We undertake no obligation (and expressly disclaim any obligation) to update or revise any of our forward-looking statements as a result of new information, future events, or otherwise. Actual results could differ materially from those in the forward-looking statements. Therefore, you should not place undue reliance on any of these forward-looking statements.
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