– Company expects about $1.1 actor of anniversary absorption accumulation based on accepted absorption rates
– New six-year chief anchored agenda extends debt adeptness dates from 2019 to 2024
– Replaces all of the Company’s absolute aboriginal and additional affirmation acclaim facilities
– Lending accumulation led by Sagard Acclaim Partners
LAS VEGAS, Feb. 05, 2018 (GLOBE NEWSWIRE) — Full House Resorts, Inc. (the “Company”) (NASDAQ: FLL) today appear its closing of $100 actor of new chief anchored addendum due 2024 (the “Notes”). The Company will use the gain from the Addendum alms to refinance all of its outstanding aboriginal and additional affirmation acclaim facilities, to pay for costs associated with the refinancing, accommodate advancing alive capital, accommodate funds for basic expenditures, and for accepted accumulated purposes. As of February 2, 2018, the Company had $41.1 actor outstanding beneath its aboriginal affirmation acclaim adeptness and $55.0 actor outstanding beneath its additional affirmation acclaim facility.
Key appearance of the Addendum include:
“We are admiring to complete this refinancing with our new lending partners,” said Daniel R. Lee, President and Chief Executive Officer of Full House Resorts. “Since our new administration aggregation accustomed about three years ago, we accept focused on improvements to both our operations and our antithesis sheet. This refinancing represents accession cogent anniversary in our Company’s transformation. In accession to absorption amount savings, these new addendum ahead approaching financings that could be acclimated for our proposed amplification of Bronco Billy’s Casino and Hotel in Cripple Creek, Colorado and added accumulated advance initiatives, either with our new lending ally or through an complete subsidiary.”
The Addendum were issued in a clandestine adjustment to “qualified institutional buyers” as authentic in Rule 144A(a)(1) beneath the Securities Act of 1933. The acquirement agreement, accommodation acknowledgment and added costs abstracts will be accessible in the Investors area of the Company’s website at www.fullhouseresorts.com and on the SEC website at www.sec.gov.
Forward-looking StatementsThis columnist absolution contains statements by the Company and its admiral that are “forward-looking statements” aural the acceptation of the safe anchorage accoutrement of the U.S. Clandestine Securities Litigation Reform Act of 1995. Advanced statements are neither actual facts nor assurances of approaching performance. Some advanced statements in this columnist absolution accommodate the advised use of gain in the Addendum offering; the accepted appulse of the refinancing on the Company’s business, including absorption amount savings; and the Company’s proposed amplification of Bronco Billy’s Casino and Hotel. Because advanced statements chronicle to the future, they are accountable to inherent uncertainties, risks and changes in affairs that are difficult to adumbrate and abounding of which are alfresco of the ascendancy of the Company. Such risks include, after limitation, changes in the Company’s business strategies; absorption amount risks; the abortion to access and/or advance authoritative or added approvals (including in Colorado, Indiana, Nevada and Mississippi); the adeptness to access costs aloft reasonable acceding (including for projects such as the Bronco Billy’s expansion); architecture risks; assurance on absolute management; competition; uncertainties over the development and success of the Company’s amplification projects; the banking achievement of the Company’s accomplished projects and renovations; capability of amount and operating efficiencies; accepted macroeconomic conditions; and authoritative and business altitude in the gaming industry (including the allowance of alive table amateur at Indiana’s racinos, or the accessible allotment or amplification of gaming in adjacent states). Additional advice apropos abeyant factors that could affect the Company’s banking action and after-effects of operations is included in the letters the Company files with the Securities and Exchange Commission, including, but not bound to, its Form 10-K for the best afresh concluded budgetary year and the Company’s added alternate letters filed with the Securities and Exchange Commission. The Company is beneath no obligation to (and especially disclaims any such obligation to) amend or alter its advanced statements as a aftereffect of new information, approaching contest or otherwise, except as contrarily appropriate by law. Actual after-effects may alter materially from those adumbrated in the advanced statements.
About Sagard Acclaim Partners: Sagard Acclaim Ally (“SCP”) provides absolute acclaim costs to accessible and clandestine average bazaar companies beyond Canada and the U.S. SCP works with companies to ability solutions tailored to their different costs needs, including appellation loans, notes, acceding financing, and added bespoke solutions and can accommodate authoritativeness on terms, anatomy and execution. SCP has a abiding angle and seeks to body abiding relationships with its investors as able-bodied as the companies in which it deploys capital. For added advice on SCP amuse appointment our website http://www.sagardholdings.com/credit-partners/.
About Full House Resorts, Inc.Full House Resorts owns, leases, develops and operates gaming accessories throughout the country. The Company’s backdrop accommodate Silver Slipper Casino and Hotel in Hancock County, Mississippi; Bronco Billy’s Casino and Hotel in Cripple Creek, Colorado; Rising Star Casino Resort in Rising Sun, Indiana; and Stockman’s Casino in Fallon, Nevada. The Company additionally operates the Grand Lodge Casino at the Hyatt Regency Lake Tahoe Resort, Spa and Casino in Incline Village, Nevada beneath a charter acceding with the Hyatt organization. Further advice about Full House Resorts can be beheld on its website at www.fullhouseresorts.com.
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