Full House Purchases Third Casino
(Las Vegas, Nev.) – The parent company of Rising Star Casino is making a new acquisition in Mississippi.
Full House Resorts announced Tuesday it has reached an agreement with Silver Slipper Casino Venture LLC to acquire all of the outstanding membership interest in the Silver Slipper Casino in Hancock County, Mississippi.
The purchase price is $70 million. Full House must get financing and regulatory approval before the agreement can be complete.
Full House plans to close the deal in the third quarter of 2012.
“This property is perfectly sized to complement our current business and provides a substantial growth opportunity through the possible addition of a hotel,” said Andre M. Hilliou, Chairman and Chief Executive Officer of Full House. “This transaction is consistent with our long-stated growth strategy and we believe it will create long-term shareholder value.”
The Silver Slipper Casino on Mississippi’s Gulf Coast is a 37,000 square foot gaming facility. It will be the third casino owned by Full House, which purchased Rising Star Casino – former Grand Victoria Casino – in 2011.