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Acquisition of Silver Slipper Casino Complete

PRESS RELEASE

October 01, 2012

Full House Resorts announced today that it has completed the purchase of Silver Slipper Casino Venture LLC, doing business as the Silver Slipper Casino, in Hancock County, Mississippi for approximately $70 million, exclusive of working capital and transaction expenses. As previously announced, the Company used $50 million on its first lien credit facility and $20 million on its second lien credit facility to complete the transaction. The Company was advised on the acquisition and financing by Macquarie Capital.

"We are excited to complete the transaction and officially bring the Silver Slipper Casino and its outstanding team members into the Full House Resorts family," said Andre M. Hilliou, Chairman and Chief Executive Officer of Full House. "We believe we can leverage our corporate resources and our experience and knowledge in managing local and regional properties to further improve the Silver Slipper's profitability and create additional long-term shareholder value. The Silver Slipper is a well-designed and efficient property located in a stable market and has a very strong management team in place. We look forward to rolling up our sleeves and getting to work with the team at the Silver Slipper."

The Silver Slipper Casino, which opened in November 2006, has 37,000 square feet of gaming space with almost 1,000 slot and video poker machines, 26 table games, a poker room and the only live Keno game on the Gulf Coast. The property includes a fine dining restaurant, buffet, quick service restaurant and two casino bars. The property draws heavily from the New Orleans metropolitan area and other communities in southern Louisiana and southwestern Mississippi.

Return to Mississippi Casinos.


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