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 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 Trac - Table Trac, Inc.
Casino Network
Casino Trac - Table Trac, Inc.
CasinoTrac™ is a full CMS platform, operating in 225 locations, across 13 countries, since 1995.
Casino Network
20+ years experience selling refurbished slot machines, parts & glass for all major brands
New Level Radio
Sunkist Graphics, Inc.
New Level Radio
Your Casino. Your Music. Your Message.
Sunkist Graphics, Inc.
Specializing in the creation of best-of-breed gaming graphics - slot glass, sign faces, and more
Patriot Gaming & Electronics, Inc.
Casino Schedule Ease
Patriot Gaming & Electronics, Inc.
Patriot Gaming…Parts is what we do. Visit us: www.patriotgaming.com
Casino Schedule Ease
Full Featured & customizable for the complex scheduling needs of table games & other casino depts
Casino City Press
Talisman Group Creators of EZ Baccarat
Casino City Press
A leading publisher and distributor of casino and gaming business data and market research reports.
Talisman Group Creators of EZ Baccarat
With over 800 tables in 150+ casinos, EZ Baccarat is the number one brand in baccarat.
TOP ONE TECH LIMITED
Acres Manufacturing
TOP ONE TECH LIMITED
GLOBAL TOUCH SOLUTION PARTNER OF CHOICE,10+ years OEM manufacturing,100+ thousand units application
Acres Manufacturing
Cashless Loyalty & Bonusing in a Single Mobile App
Oklahoma Indian Gaming Association (OIGA) Conference
Goldfinger Monitors
Oklahoma Indian Gaming Association (OIGA) Conference
The biggest little show in Indian gaming! Save the date: Aug 14-16, 2023 in Tulsa!
Goldfinger Monitors
Innovative touch-screen solutions - vibrant lighting, high-def imagery, bright, bold colors
TribalHub
Slot Machines Unlimited
TribalHub
24th Annual TribalNet Conference Sept 18-21, 2023 Town & Country Resort, San Diego, CA
Slot Machines Unlimited
Exporter of IGT, Williams, AVP, Trimline, Aristocrat, Konami, Bally, & parts over 20 yrs experience
Betson Imperial Parts & Service
AmericanChecked
Betson Imperial Parts & Service
Your one stop shop for all your gaming and OEM needs!
AmericanChecked
Background checks for the gaming industry with key & non-key packages & fingerprinting solutions


Your Guide to 15,257 Gaming Industry Suppliers