BAY ST. LOUIS — The board of directors of Full House Resorts Inc., which owns the Silver Slipper Casino in Bay St. Louis, has authorized management to initiate a process for the sale of the company.
After its evaluation of strategic alternatives, the Las Vegas-based company said the board 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.
Full House will continue to work with Macquarie Capital as its financial advisor and Latham & Watkins LLP as its legal advisor as it pursues the sale process.
The company said it 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 without the payment of a control premium will maximize stockholder value. In the meantime, the company is encouraging stockholders “not to support the disruptive and expensive process to call a special meeting initiated by the dissident stockholders.”