Las Vegas-based Full House Resorts, in a recent stockholders update, said an RV park will open at the Rising Star Casino in Rising Sun, Indiana, and net revenue and hotel occupancy are up at the Silver Slipper Casino in Bay St. Louis, Mississippi.
A $1.5 million, 56-space RV park—the first at a casino in the southwest Indiana market—will open in June at the Rising Star Casino in Rising Sun, Indiana. Full House Resort’s quarterly report stated, “RV parks are common at casinos in other regions and the Recreation Vehicle Industry Association estimates that more than 60 percent of all recreation vehicles are made in Indiana. Despite this, the RV Park at Rising Star will be the first at a casino in the market.”
Full House Resorts President and Chief Executive Officer Dan Lee said the company had been waiting for the opening of an Ohio River ferry boat linking Rising Sun and Rabbit Hash, Kentucky as a boost to casino business. However, he noted, “We are also proceeding with our growth efforts beyond these projects, including the introduction of a ferry boat for improved access to Rising Star from areas around Cincinnati’s principal airport, pavilion and casino improvements at Rising Star.”
The quarterly report mentioned legislation that would have allowed Full House Resorts to move some of its slots and table games licensed for use in Rising Sun to a proposed new casino in Terre Haute. The bill died in February on a Senate committee vote of 5-5.
“The company continues to explore ways to utilize its unused, permitted gaming capacity in Terre Haute or elsewhere in Indiana, which we believe would provide significant jobs and tax revenues to the state and a growth opportunity to the company’s shareholders and employees,” the report stated. In addition, it noted in the first quarter, Full House spent $131,000 on project development and acquisition efforts, mostly on costs related to the Terre Haute casino.
Full House Resorts also reported occupancy at the hotel at Silver Slipper Casino in Bay St. Louis, Mississippi increased to 89 percent in the first quarter versus 85 percent in the same period last year. The hotel opened in 2015.
Lee stated, “Once again, the Silver Slipper’s operating results were particularly strong with net revenues growing more than 12 percent and Adjusted Property EBITDA increasing nearly 15 percent.”
In addition, the Silver Slipper Beach Bar & Café opened last week and the report indicated a new pool and beach club and a casino oyster bar also are planned.
