Full House Resorts (FLL) to Offer Common Stock

Full House Resorts, Inc. (Nasdaq: FLL) announced that it intends to offer and sell shares of its common stock in an underwritten public offering. The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. Full House Resorts also intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock sold in the offering to cover over-allotments, if any. All of the securities in the proposed offering are to be sold by Full House Resorts.

The Company intends to use the net proceeds from the proposed offering, if completed, 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 proposed 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.

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