LAS VEGAS, December 08, 2021 (GLOBE NEWSWIRE) – Full House Resorts, Inc. (Nasdaq: FLL) today announced that its proposed American Place gaming and entertainment destination has been selected today by Illinois Gaming Board (âIGBâ), subject to final license approvals. American Place was originally one of five proposals submitted in response to a “request for proposals” to develop and operate a new casino and entertainment destination in Waukegan, Illinois. Today’s decision is the culmination of a competitive selection process that began in 2019.
âWe thank the Illinois Gaming Board for placing their trust in Full House Resorts and for selecting our American Place proposition,â said Daniel R. Lee, President and CEO of Full House Resorts. âWe will immediately begin work on American Place, first with the development and construction of a temporary casino in Waukegan, Illinois. Thanks to our planned temporary installation – aptly named The Temporary by American Place – we will be able to quickly create jobs and generate tax revenue during the construction of the permanent American Place facility. We plan to open our temporary facility in mid-2022. “
Mr. Lee continued, âOur permanent American Place facility is designed to be a world-class destination for residents of nearby Chicagoland and the entire region, and will include luxury amenities such as a villa-only hotel. with full butler service. We are excited to join the Waukegan community and have the opportunity to bring our vision for American Place to life, with the completion of our full experience expected in 2024. â
About American Place
Full House Resorts was selected in December 2021 to develop American Place, a new gaming and entertainment destination located in Waukegan, Ill., Midway between Chicago and Milwaukee, subject to final regulatory approvals. American Place should include a world-class casino with a state-of-the-art sports book; an upscale boutique hotel comprised of 20 luxurious villas, each ranging from 1,500 to 2,500 square feet with full butler service; a 1,500-seat live entertainment venue; a fine dining restaurant that will rival Chicago’s best restaurants; additional restaurants and bars; and other amenities that will attract gamers and non-gamers from all over Chicagoland and beyond. A second phase of American Place is expected to include a four-star hotel with 150 rooms.
About Full House resorts
Full House Resorts, Inc. owns, rents, develops and operates gaming facilities nationwide. The Company’s properties include the Silver Slipper Casino and Hotel in Hancock County, Mississippi; Bronco Billy’s Casino and Hotel in Cripple Creek, Colorado; Rising Star Casino Resort in Rising Sun, Indiana; the Stockman Casino in Fallon, Nevada; and Grand Lodge Casino, located in the Hyatt Regency Lake Tahoe Resort, Spa and Casino in Incline Village, Nevada. The company is currently building the Chamonix Casino Hotel, a new luxury hotel and casino in Cripple Creek, Colorado. In December 2021, the company was selected by the Illinois Gaming Board to develop American Place, a new gaming and entertainment destination to be built in Waukegan, Ill., Subject to final regulatory approvals. For more information, please visit www.fullhouseresorts.com.
Caution regarding forward-looking statements
This press release contains statements by Full House and our officers that are “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as: “anticipate”, “intend”, “plan”, “believe”, “plan”, “expect”, “the future”, “should”, “should”, “planned” And similar references to future periods. Certain forward-looking statements contained in this press release include those regarding our American Place project, including its expected construction budget, estimated start and completion dates and expected amenities. Forward-looking statements are neither historical facts nor assurances of future performance. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are beyond Full House’s control. These risks include, but are not limited to, receipt of final regulatory approvals from the Illinois Gaming Board; our ability to repay our substantial debt; the potential for further negative impacts from the COVID-19 pandemic, including the emergence of variants, on our business, construction projects, indebtedness, financial condition and results of operations; potential actions by government officials at the federal, state, or local level in connection with the COVID-19 pandemic, including, without limitation, additional closures, travel restrictions, social distancing measures, or orders accommodation on site; our ability to effectively manage and control spending due to the pandemic; our ability to successfully obtain financing for American Place on reasonable terms or not at all; the potential increase in our indebtedness due to the American Place project; our ability to complete American Place on time and on budget; changes in customer visiting or spending habits due to COVID-19 or other health or other issues; a decrease in aggregate demand as other competing entertainment venues continue to reopen; construction risks, litigation and cost overruns; dependence on existing management; competetion; uncertainties about the development and success of our expansion projects; the financial performance of our completed projects; inflation and its potential impacts on labor costs and the prices of food, construction and other materials; the effects of potential disruptions in the supply chains of goods, such as food, timber and other materials; general macroeconomic conditions; and regulatory and commercial conditions in the gaming industry (including the licensing or possible expansion of gaming in states where we operate or neighboring states). Additional information regarding potential factors that could affect our financial condition and results of operations is included in Full House’s filing reports with the Securities and Exchange Commission, including, but not limited to, Part I , section 1A. Risk Factors and Part II, Section 7. Management’s discussion and analysis of the financial position and results of operations of our annual report on Form 10-K for the most recently completed financial year and of our other periodic reports filed with the Securities and Exchange Commission. We have no obligation (and expressly disclaim any obligation to) update or revise our forward-looking statements as a result of new information, future events or otherwise. Actual results may differ materially from those shown in forward-looking statements. Therefore, you should not rely on any of these forward-looking statements.