Full House Resorts to run Lake Tahoe casino

1 July 2011

LAS VEGAS, Nevada -- Las Vegas-based Full House Resorts has signed a deal to lease the Grand Lodge Casino at the Hyatt Regency in Lake Tahoe, giving the gaming operator its second Nevada property.

Full House, which manages several Indian casinos in the Midwest, also owns the Stockman's Casino in Fallon.

Under the agreement with Hyatt Equities announced Thursday, Full House will have a five-year lease and will pay a fixed monthly rent of $125,000 over the initial term of the lease. Full House will pay $600,000 to acquire the operating assets and certain liabilities related to the Grand Lodge Casino, which has 260 slot machines, 25 table games and a sports book. The facility is integrated into Hyatt Regency on Lake Tahoe's north shore.

Full House said the casino had net revenues of $12.5 million and cash flow of $3.2 million in 2010.

The deal is subject to approval by Nevada gaming authorities.

Full House CEO Andre Hilliou said in a statement the company hopes to gain control of the operation by September.

"We believe this is a great deal for Full House," Morgan Joseph gaming analyst Justin Sebastiano told investors. He estimates that the Lake Tahoe casino could add annual cash flow of $1.7 million to the company.

Full House's largest casino is the FireKeepers Casino in Battle Creek, Mich., which it operates for the Nottawaseppi Huron Band of Potawatomi Indians. FireKeepers has 2,763 slot machines, 67 table games and a 120-seat poker room.

Full House owns the Grand Victoria Casino and Resort in Rising Sun, Ind., and recently announced a management agreement with the Pueblo of Pojoaque to manage the operations of the Buffalo Thunder Resort & Casino in Santa Fe, N.M.

Sebastiano said the Hyatt deal along with the New Mexico contract would offset any revenue loss Full House could experience when its contract to manage a casino in Delaware expires in August.

Related Links
Full House Casino Entertainment Gaming Vendor Information
Rising Star Casino Resort Details
Stockman's Casino Details
Buffalo Thunder Resort & Casino Details
Nevada Gambling


Copyright GamingWire. All rights reserved.
Featured Vendors
Slot Machines Unlimited
Rymax Marketing Services, Inc.
Slot Machines Unlimited
Exporter of IGT, Williams, AVP, Trimline, Aristocrat, Konami, Bally, & parts over 20 yrs experience
Rymax Marketing Services, Inc.
Leader in creating award winning player & employee loyalty programs & events proven to increase ROI
Multi-Choice Cash (MCC)
Gaming Tickets, Inc.
Multi-Choice Cash (MCC)
Customized Cash Access Solutions for Gaming. Helping You Maximize Cash to the Casino Floor.
Gaming Tickets, Inc.
35 years in the gaming industry - premium quality slot tickets, lottery tickets on time under budget
Gambling Invest
Mhetadata Marketing
Gambling Invest
Buy or Sell Premium Gambling Domains
Mhetadata Marketing
Marketing Automation automate your direct mail programs and save money doing it
TribalNet
Casino City Press
TribalNet
19th Annual TribalNet Conference and Tradeshow Nov 5-8, 2018 Hard Rock Hotel and Casino Las Vegas
Casino City Press
A leading publisher and distributor of casino and gaming business data and market research reports.
Atrient
Regulatory Management Counselors, P.C.
Atrient
Promotions, offers & drawings - how loyalty is rewarded.
Regulatory Management Counselors, P.C.
Over 35 years of experience serving the legal and regulatory needs of casino industry clients
Tejas Slots LLC
Zem Media
Tejas Slots LLC
Upgrade Your Gaming Equipment & Generate Texas-Sized Revenues for Your Business
Zem Media
Enhance the Guest Experience with Digital Signage Solutions featuring Easy-to-Use Content Management
Sunkist Graphics, Inc.
Vehicle Merchandising Systems
Sunkist Graphics, Inc.
Specializing in the creation of best-of-breed gaming graphics - slot glass, sign faces, and more
Vehicle Merchandising Systems
Innovative Vehicle Display Platforms for Casino Car Promotions
Casino Schedule Ease
Payline Videos
Casino Schedule Ease
Removing the chaos from casino staff scheduling one property at a time
Payline Videos
Custom Video Solutions for Casinos & Gambling Websites!
Nathan Associates Inc.
Casino Network
Nathan Associates Inc.
One of the oldest and most respected economic consulting firms in the U.S.
Casino Network
20+ years experience selling refurbished slot machines, parts & glass for all major brands


Your Guide to 16,620 Gaming Industry Suppliers