Full House closes on financing, signs contracts for Silver Slipper hotel
by MBJ Staff
Published: August 29,2013
HANCOCK COUNTY — Full House Resorts has closed on an amendment to its first lien credit agreement to provide for a $10-million loan from its first lien facility lenders, which will be used to fund a portion of the approximate $17.7-million construction of a 142-room hotel at the Silver Slipper Casino in Hancock County.
Full House also has signed construction contracts for the hotel with the R.O.I. Hotel Group and expects construction to commence in the next 30 days.
The company expects the remaining $7.7 million of the construction to be funded from available cash. Full House estimates that construction of the hotel will take approximately one year to complete.
Andre Hilliou, chairman and CEO of Full House, said, “We believe the hotel is a much-needed amenity to extend loyal and profitable customer visits at the Silver Slipper property, and we look forward to celebrating the grand opening of the hotel facility in the second half of 2014.”
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