Morongo deals Full House

Aug 5, 2003 4:08 AM

The Morongo Band of Mission Indians last Thursday announced it had acquired Full House Resorts, Inc., a Las Vegas-based casino management and development company.

The deal was worth $21 million.

"Morongo has sought ways to continue to diversify its economic ventures and this investment will allow us to bring our gaming management expertise and experience to bear in new markets," said Maurice Lyons, tribal council chairman.

The tribe told the Palm Springs Desert Sun that it would fund the purchase from cash reserves and existing credit facilities. The Morongo Band broke ground in May on its new $250 million, 23-story casino resort hotel, which would make it one of the largest gaming destinations in California.

Full House Resorts became a public company in 1992 and moved to Las Vegas in 1998 ”” the same year it sold a casino in Deadwood Gulch, S.D.

ALSO: A Senate committee on Thursday voted to outlaw credit-card payments to Internet casinos, in a move designed to choke the offshore gambling sites that draw billions of Âí­dollars from U.S. customers...Mohegan Sun operators in Connecticut hope to pull twice the money out of the same space by closing the casino’s poker room and installing 275 slot machines.