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Full House Resorts secures $75 million in casino financing4 May 2012
By Chris Sieroty
The Las Vegas-based company, which develops and manages casinos, said it would release its quarterly financial results on Wednesday. Analysts surveyed by Yahoo Finance expected first quarter earnings of 8 cents a share on revenue of $34.1 million.
Andre M. Hilliou, chairman and CEO of Full House Resorts, said the $75 million in financing for the casino in Bay St. Louis, Miss., includes a $55 million first lien credit facility and a $20 million second lien facility.
"We have already commenced the licensing process in Mississippi, and we expect to close on the acquisition in the third quarter of this year," Hilliou said in a statement.
In March, Full House Resorts made a $2.5 million escrow deposited in connection with the pending acquisition of the casino in Bay St. Louis, Miss. The company is being advised on the acquisition and financing by Macquarie Capital.
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