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Full House Resorts, Inc. Announces Sale of Mississippi Property |
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LAS VEGAS, May 20 Full House Resorts, Inc. (BULLETIN BOARD: FHRI) (the "Company") announced today the sale of a one-acre land parcel located in Biloxi, Mississippi for $2.5 million. The land was acquired in 1998 as part of the Company's efforts to develop a casino in the Gulf Coast market. |
"We are pleased to have monetized this non-strategic asset for its appraised value. This frees up valuable resources for use in pursuing other opportunities, most notably our Battle Creek project," said William P. McComas, Chairman and Chief Executive Officer.
The sale proceeds are available for use in pursuit of the Firekeeper's Casino development in Battle Creek, Michigan. This project is being developed for the Nottawaseppi Band of Huron Potawatomi Indians. The project is awaiting resolution of land trust litigation before development can begin.
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