HOT Stories more

MPEL, CZR interested in building Barcelona casino

Industry Article
Full House to acquire Fitzgerald's in Tunica March 24, 2014 10:21 AM by Staff & Wire Reports

Full House to acquire Fitzgerald's in Tunica Las Vegas-based Full House Resorts Inc. announced on Monday that it has entered into a definitive agreement to acquire Fitzgerald’s Casino in Tunica, Mississippi. The property being sold is currently owned and operated by a membership group known as The Majestic Star Casino LLC.

Sale price, said Full House, is $62 million, exclusive of working capital and other adjustments, fees and expenses as of the closing date.

It was noted that the purchase is subject to Full House obtaining financing for the acquisition within 90 days of its execution, obtaining regulatory approvals and other customary closing conditions.

The acquiring company said it intends to fund the acquisition of the Fitz Casino with a combination of proceeds obtained by refinancing its existing credit facilities with a new credit facility with a capacity of approximately $125 million and through an equity offering.

Closing is expected to take place during the third fiscal quarter,

Tunica’s Fitz Casino has 38,000 square feet of gaming space. It operates with about 1,100 slot and video poker machines and 20 table games. The property includes a 506-room hotel with 68 suites, a fine dining restaurant, buffet, a quick service  restaurant, two casino bars and an 8,100 square foot multi-purpose event center.

Contact us at Publisher@GamingToday.com.

Like GamingToday on Facebook GamingToday on Facebook      and        Follow GamingToday on Twitter GamingToday on Twitter

Casino Industry

Dog Racing Dying with spread of casino gamblingDOG RACING DYING

With spread of casino gambling

During the 1960’s and 70’s, greyhound racing flourished in many states throughout the country. But, that was before the spread of casino gambling. Now, casinos are feeling the impact of over-abundance while most dog tracks have been shuttered.

READ MORE

GamingToday football special subscription ad

GamingToday Race and Sports Futures

           LVH Superbook  Stratosphere Sports Book  

                Wynn Sports Book  CG Technologies