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Gaming NewsFull House Resorts Receives Financing28 June 2006LAS VEGAS, Nevada – (PRESS RELEASE) -- Full House Resorts (Amex: FLL) today announced that Nevada State Bank has issued a commitment to provide financing of up to $16 million for the previously announced acquisition by Full House Resorts of Stockman's Casino and Hotel in Fallon, Nevada. The Company plans to finance the balance of the acquisition of all of the outstanding shares of capital stock of Stockman's Casino, Inc. from other sources of financing. The bank's commitment is subject to typical terms, conditions and covenants and is secured only by Stockman's Casino Inc., the company to be acquired without additional guarantees from Full House Resorts. The commitment contains terms previously discussed with the bank, including a term of 15 years and interest tied to the LIBOR rate. Security is to be all of the capital stock of Stockman's Casino Inc. and the non-gaming assets of that company. Closing of the transaction is subject to regulatory approvals and is anticipated to occur later this year. The commitment expires on January 31, 2007. Andre M. Hilliou, Chief Executive Officer of Full House Resorts, stated, "This is another step toward completion of this acquisition. I appreciate the interest of Nevada State Bank in our company and the efforts of our management team in bringing this transaction to a successful closing." |