Full House Resorts (FLL) Confirms It Has Been Evaluating Strategic Alternatives, Including a Possible Sale

October 13, 2014 7:05 AM EDT

Full House Resorts' (NASDAQ: FLL) Board of Directors comments on the public announcement on October 9, 2014 made by dissident minority stockholders regarding their request to call a special meeting to appoint certain individuals to the Company’s board of directors and make changes to the Company’s bylaws.

The Company has been evaluating strategic alternatives for several months. The Company intends to continue exploring strategic alternatives to maximize value for all stockholders, including the potential merger or sale of the Company, and has retained Macquarie Capital as its financial advisor and Latham & Watkins LLP as its legal advisor. The Company will inform its stockholders of the result of its review of strategic alternatives at the appropriate time.

Accordingly, the Company believes that the proposals by the dissident group are inappropriate and disruptive at this time and encourages stockholders to not take any action with respect to the proposals. The Company also notes that many of the statements made by the dissident group are inaccurate or misleading.

The Company also believes that the dissident group are the wrong people, with the wrong agenda at the wrong time. Craig Thomas and Bradley Tirpak do not have a record of creating value for stockholders as evidenced by their failed attempt to take over the board of USA Technologies, Inc. and the decline in Direct Insite Corp’s stock price and operations during the period of Craig Thomas’ service as a board member following a similar board takeover. In addition, Dan Lee recently had a less than eight month tenure at the Palms Casino Resort, had a disruptive departure from Pinnacle Entertainment and was unsuccessful in his efforts to develop a casino in Louisiana.

The Company will pursue the strategy that is in the best interest of all stockholders, and encourages its stockholders not to support actions that enable the dissident group to take control of the Company without providing a fully formed strategic plan to create value for stockholders of the Company.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

13Ds, Corporate News, Hot Corp. News, Management Comments, Mergers and Acquisitions

Related Entities

Definitive Agreement