LAS VEGAS, Nevada -- Full House Resorts announced today that IGT, the leading slot manufacturer, has extended up to $5 million in interim financing to the Nottawaseppi Huron Band of Potawatomi
for the design and development costs of the Tribe's Firekeepers Casino project in Emmett Township, Michigan. Merrill Lynch has also been engaged by the Tribe as the investment banking firm responsible for raising the funds for the construction and opening of the casino.
The Firekeepers Casino development is for a world-class facility with over 2,000 slot machines, table games, various restaurants and other amenities. The Secretary of the Interior took the land into trust for the benefit of the Tribe in December and a Reservation Proclamation is being processed by the Bureau of Indian Affairs, which would identify the land as Tribal reservation land suitable for gaming.
Full House has executed a management agreement with the Tribe for the development and management of the casino. The management agreement is subject to approval by the National Indian Gaming Commission, which is in the process of conducting its review. Full House expects the approval within the next few months, clearing the way for the permanent financing to be placed and construction activities to commence.
Andre M. Hilliou, Chief Executive Officer of Full House Resorts, said, "We are excited that IGT sees the potential of this development that we have known for some time. With this interim financing in place, the project can proceed at full speed and the Tribe can continue on the journey to financial self-sufficiency which it has sought to achieve since its federal recognition."
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|Full House Resorts is involved in casinos in Delaware, Oregon and California. Mill Casino-North Bend at Oregon has 250 video lottery terminals, 9 blackjack tables and nine poker tables, a restaurant and buffet, a saloon, a bingo hall an snack bar. Midway Slots and Simulcast-Harrington at Delaware features 742 gaming devices, 150-seat simulcast parlor, 450-seat buffet, 50 seat dinner and gift shop.|
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