Full House Resorts (FLL) Prices $40 Million Public Offering of Common Stock at $6.65/sh

March 25, 2021 7:32 AM EDT

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Full House Resorts, Inc. (Nasdaq: FLL) (“Full House Resorts” or the “Company”), a developer, owner and operator of casinos and related hospitality and entertainment facilities in regional U.S. markets, today announced the pricing of an underwritten public offering of 6,015,000 shares of its common stock at a purchase price to the public of $6.65 per share. Additionally, in connection with the offering, Full House Resorts granted the underwriters a 30-day option to purchase up to an additional 902,250 shares of its common stock on the same terms and conditions. All of the securities in the offering are being sold by Full House Resorts. The offering is expected to close on or about March 29, 2021, subject to the satisfaction of customary closing conditions.

The gross proceeds from the offering to Full House Resorts are expected to be approximately $40 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Full House Resorts and excluding any exercise of the underwriters’ option to purchase additional shares of common stock.

Full House Resorts intends to use the net proceeds from the offering for development, working capital and general corporate purposes. Management believes that the improvement to the Company’s balance sheet with the net proceeds from this offering will significantly strengthen its application for the proposed American Place casino in Waukegan, Illinois. The Illinois Gaming Board has received three applications for such license, each endorsed by the City of Waukegan. The use of proceeds could also include construction of a new hotel tower and other amenities at the Company’s Silver Slipper Casino and Hotel. Certain regulatory approvals and entitlements are still required to enable such construction and there is no certainty as to the timing or receipt of such approvals.

Craig-Hallum Capital Group is acting as the sole book-running manager for the offering. Macquarie Capital, Roth Capital Partners and Union Gaming are acting as co-managers for the offering.

A shelf registration statement on Form S-3 (File No. 333-251778) relating to the public offering



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