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Las Vegas, October 20, 2005
- Full House Resorts, Inc. (AMEX: FLL) ("Full House") reported
today that its Battle Creek, Michigan project in conjunction with
the Nottawaseppi Huron Band of Potawatomi Indians is proceeding on
schedule. The public comment period related to an Environmental Impact
Statement (EIS) being prepared on behalf of the Bureau of Indian Affairs
(BIA) and National Indian Gaming Commission (NIGC) has closed. The
EIS will be placed in final form for approval by the government agencies.
These approvals are a prerequisite for the BIA taking the land into
trust for use for the gaming facility and for the NIGC to approve
the Management Agreement between the Huron Potawatomi and Full House.
Approval of the EIS is anticipated shortly. Of
the comments received from the public, the majority were favorable
to the project, including comments from most of the local and state
governmental agencies affected by the development. The final EIS
will incorporate suggestions received from the public comments.
Full House is pleased to report that this massive undertaking, encompassing
some 600 pages of text and diagrams and analyzing impacts from socio-economic
to biological to physical, which is a requirement of federal law
is nearing the end of its process. This brings the casino project
one step closer to fruition. Full House presently projects opening
the casino sometime in 2007.
Andre Hilliou, Chief Executive Officer of Full
House, stated that he is pleased that this project is progressing
and is on schedule. “Although we have been delayed substantially,
we are nearing the point when we can begin to provide employment
and economic opportunities to the good people of this area and especially
bring economic self-sufficiency and self-determination to the Huron
Potawatomi people.”
Full House projects that annual gross revenues
from the development project should approximate $150 million to
$200 million and its income from management of the facility is projected
to be between $7 million and $10 million annually for the term of
the management contract.
About Full House Resorts
Full House develops and manages gaming facilities.
In addition to the management agreement with the Nottawaseppi Huron
Band of Potawatomi Indians for the development and management of
a first-class casino/resort with more than 2,000 gaming devices
in the Battle Creek, Michigan area, which is currently in the pre-development
stage, Full House manages Midway Slots and Simulcast at the Delaware
State Fairgrounds in Harrington, Delaware, along with the owner
of the adjacent racetrack. Midway Slots and Simulcast has a total
of 1,581 gaming devices, a 350-seat buffet, a 50-seat diner, gourmet
Steak House and an entertainment lounge. In addition, the Company
has a Gaming Management Agreement with the Nambé Pueblo of
New Mexico for the development of a coordinated entertainment venue
centered on a 50,000 square foot casino and with the Northern Cheyenne
Nation of Montana for the development and management of a 25,000
square foot gaming facility. The Company was recently selected by
both the Manuelito Chapter of Navajo Indians to develop and manage
a gaming facility near Gallup, New Mexico and the Shiprock Chapter
of Navajo Indians to develop and manage a gaming facility at Shiprock,
New Mexico, subject to the approval of the Navajo Nation.
Forward-looking Statements
No assurances can be given that any agreement,
development, project or venture mentioned or contemplated by this
release will occur. Certain statements in this release that are
not historical facts are “forward-looking statements”
within the meaning of the Private Securities Litigation Act of 1995.
These statements are subject to risks and uncertainties that may
cause actual results or performance to be materially different from
that expressed or implied in such statements.
For further information, contact
Andre Hilliou
Chief Exeuctive Officer
Full House Resorts, Inc.
702-221-7800
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