Full House Resorts Inc., owner of Silver Slipper Casino and other properties, today announced that its Board of Directors has authorized management to put the company up for sale.
Here’s the statement:
“After its evaluation of strategic alternatives, the Board of Directors has determined that pursuing a sale of the Company is the best course of action to maximize stockholder value and is accordingly in the best interest of all stockholders.”
Continuing:
“The Company welcomes the dissident stockholder group to participate in the sale process. However, the Company does not believe that granting the dissident stockholder group effective control of the Company’s Board of Directors without the payment of a control premium will maximize stockholder value. In the meantime, the Company encourages stockholders not to support the disruptive and expensive process to call a special meeting initiated by the dissident stockholders.”
Full House owns, develops and manages gaming facilities throughout the country.
The Rising Star Riverboat Casino in Rising Sun, Indiana, has 35,000 square feet of gaming space with 940 slot and video poker machines and 30 table games. The property includes 294 hotel rooms, a pavilion with five food and beverage outlets, an 18-hole Scottish links golf course and a large, multi-purpose Grand Theater for concerts and performance events as well as meetings and conventions.
The Silver Slipper Casino in Hancock County has 37,000 square feet of gaming space with almost 1,000 slot and video poker machines, 26 table games, and the only live Keno game on the Gulf Coast. The property includes a fine dining restaurant, buffet, quick service restaurant and two casino bars.
Stockman’s Casino in Fallon, Nevada, has 8,400 square feet of gaming space with approximately 265 gaming machines, four table games and a Keno game.
The Company also operates the Grand Lodge Casino at the Hyatt Regency Lake Tahoe Resort, Spa and Casino in Incline Village, Nevada on the north shore of Lake Tahoe under a lease agreement with the Hyatt organization.