Full House Resort Purchases Silver Slipper Casino
Full House Resorts has announced that it has completed the purchase of Silver Slipper Casino Venture LLC.
The purchase cost approximately $70 million exclusive of working capital and transaction expenses.
In order to complete the transaction, Full House Resorts used $50 million on its first lien credit facility and $20 million on its second. The company received advice on the acquisition from Macquarie Capital.
Chairman and Chief Executive Officer of Full House, Andre M. Hilliou, said that they “are excited to complete the transaction and officially bring the Silver Slipper Casino and its outstanding team members into the Full House Resorts family.”
He went on to say that they think that they can “leverage our corporate resources and our experience and knowledge in managing local and regional properties to further improve the Silver Slipper’s profitability and create additional long-term shareholder value.”
The Silver Slipper Casino opened in 2006 and has 37,000 square feet of floor space with around 1,000 slot and video poker machines, 26 table games, a poker room and the only live Keno game on the Gulf Coast.
The facility also features a restaurant, buffet, quick service restaurant and two casino bars.