Full House Resorts, a leading gaming company, has announced the sale of Stockman’s Casino in Fallon, Nevada for a whopping $9.2 million. The deal, which was finalized earlier this week, marks a significant milestone for the company as it continues to streamline its operations and focus on its core properties.
Stockman’s Casino, located in the heart of downtown Fallon, has been a staple in the community for over 30 years. The property features a 10,000 square foot casino floor with over 200 slot machines, as well as a restaurant and bar. Full House Resorts acquired Stockman’s Casino in 2009 as part of a larger portfolio of gaming properties.
The sale of Stockman’s Casino is part of Full House Resorts’ strategic plan to divest non-core assets and reinvest in its flagship properties. The company currently operates five other gaming properties in Colorado, Indiana, and Mississippi, including the iconic Rising Star Casino Resort in Indiana.
“We are pleased to announce the sale of Stockman’s Casino for $9.2 million,” said Daniel R. Lee, President and CEO of Full House Resorts. “This transaction allows us to reduce our debt and focus on our larger, more profitable properties. We remain committed to delivering exceptional gaming experiences to our customers and creating long-term value for our shareholders.”
The buyer of Stockman’s Casino has not been disclosed, but the deal is expected to close by the end of the year. Full House Resorts plans to use the proceeds from the sale to pay down debt and fund future investments in its existing properties.
Full House Resorts is a publicly traded company listed on the NASDAQ under the ticker symbol FLL. The company was founded in 1987 and has grown to become a leading player in the gaming industry. With a strong track record of success and a commitment to innovation, Full House Resorts is well-positioned for continued growth and success in the years to come.
In conclusion, the sale of Stockman’s Casino for $9.2 million is a significant development for Full House Resorts and reflects the company’s ongoing efforts to optimize its portfolio and drive long-term value for shareholders. With a focus on its core properties and a commitment to delivering exceptional gaming experiences, Full House Resorts is poised for continued success in the competitive gaming industry.