In March, Las Vegas-based Full House Resorts announced it intended to purchase Fitzgerald’s Casino in Tunica from Majestic Star Casino LLC for million. However, Full House recently said the deal was off, and had notified Majestic Star “of its belief that the company will not likely be successful in obtaining financing for the purchase of Majestic Mississippi. As a result, we have requested Majestic Star consider termination of the agreement.”
That agreement had been based on Full House obtaining financing for the acquisition within 90 days of its execution, as well as obtaining regulatory approvals and other customary closing conditions.
Full House Chairman Andre Hilliou said, “Our first quarter 2014 performance was impacted by unusually extreme weather conditions across the country, increased competition and soft consumer trends.” Hilliou said revenue also dropped at Full House’s casinos in Indiana and Northern Nevada.
Still, the company is building a $17.7 million, 142-room hotel at its Silver Slipper casino in Hancock County, Mississippi. And in February, the company entered into an agreement to own and operate instant racing and traditional casino games at racetracks in Kentucky, if authorized.
