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


Copyright GamingWire. All rights reserved.
Featured Vendors
Casino City Press
Slot Machines Unlimited
Casino City Press
A leading publisher and distributor of casino and gaming business data and market research reports.
Slot Machines Unlimited
Exporter of IGT, Williams, AVP, Trimline, Aristocrat, Konami, Bally, & parts over 20 yrs experience
Prezzee
Oklahoma Indian Gaming Association (OIGA) Conference
Prezzee
Prezzee provides digital gift cards from top brands to reward loyal guests and employees.
Oklahoma Indian Gaming Association (OIGA) Conference
The biggest little show in Indian gaming! Save the date: July 14-16, 2025 Oklahoma City
TribalHub
Rymax Marketing Services, Inc.
TribalHub
26th Annual TribalNet Conference Sept 15-18, 2025 at Grand Sierra Resort and Casino in Reno, Nevada
Rymax Marketing Services, Inc.
Leader in creating award winning player & employee loyalty programs & events proven to increase ROI
Betson Imperial Parts & Service
Casino Network
Betson Imperial Parts & Service
Your one stop shop for all your gaming and OEM needs!
Casino Network
20+ years experience selling refurbished slot machines, parts & glass for all major brands
Sunkist Graphics, Inc.
Texas Slots & Gaming
Sunkist Graphics, Inc.
Specializing in the creation of best-of-breed gaming graphics - slot glass, sign faces, and more
Texas Slots & Gaming
Wholesale gaming reimagined. Texas Slots & Gaming is your sustainable gaming partner.
Regulatory Management Counselors, PC
Casino Schedule Ease
Regulatory Management Counselors, PC
Over 45 years of experience serving the legal and regulatory needs of casino industry clients
Casino Schedule Ease
Full Featured & customizable for the complex scheduling needs of table games & other casino depts
Imagine This
Concept 3, LLC
Imagine This
Imagine This #1 Source for Player Gifts. Over $50 million in stock ready to ship! Let us serve you!
Concept 3, LLC
Custom Creations, Unmatched Value – Elevating Brands with Quality & Savings Since 2004


Your Guide to 14,987 Gaming Industry Suppliers