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LAS VEGAS-Locally headquartered Full House Resorts has receivedfinal approval from the Nevada Gaming Commission to own and operateStockman's Casino in Fallon. The publicly held casino manager inApril agreed to acquire for $25.5 million all of the outstandingstock of Stockman's Casino, Inc., which owns and operates thecasino and the neighboring Holiday Inn. The seller is the James R.Peters Family Trust.

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Stockman's Casino has approximately 8,400 sf of gaming space, afine dining restaurant and a coffee shop. The Holiday Inn Expresshas 98 guest rooms, indoor and outdoor pools, sauna, fitness centerand meeting rooms.

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The purchase price is subject to increase if the operationexceeds certain financial targets during the 12 months prior toclosing of the transaction, which is scheduled for this quarter.Full House says it expects the purchase price to increase between$400,000 and $800,000. Full House is funding the transaction withproceeds from its upcoming 6.2 million share offering (at $3.25 pershare), cash on hand and $16 million in debt financing.

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The acquisition of a casino provides Full House the opportunityto expand into a long-term aspect of its business plan that is notlimited by the length of a management contract. "We expectStockman's to provide a solid foundation for our continuedexpansion in local casino markets," says Full House CEO AndreHillou.

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Full House manages Midway Slots and Simulcast at the DelawareState Fairgrounds in Harrington, DE. It also is working ondeveloping casino-resorts in partnership with the NottawaseppiHuron Band of Potawatomi Indians in the Battle Creek are ofMichigan, with the Nambe Pueblo of New Mexico and with the NorthernCheyenne Nation of Montana

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