LAS VEGAS-Full House Resorts, coming off a quarter in which itreported record revenue and earnings, is on the lookout to own andoperate more casinos. Full House chairman and CEO Andre Hilliousaid in Tuesday's quarterly earnings conference call with investorsthat the gaming company is "actively pursuing deals where we wouldeither own the asset outright or receive a management fee tooperate it, or a combination of the two."

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As the company has stated in the past, Hilliou said, ownershipand/or management deals represent the company's long-term growthstrategy. "We are actively looking at properties in all gamingjurisdictions, including Northern Nevada, Mississippi the Midwestand other areas, and considering management agreements of varioustypes," Hilliou said.

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Regarding the company's quest for acquisitions, Hilliou said,"As time goes on, it will be easier for buyers and sellers to agreeon price, and as a conservative company, our key word is today'searnings, not yesterday's." When Full House finds the rightopportunity, he said, it will move quickly.

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One reason that Full House will be able to move quickly is thatthe company has "significant cash on hand and no outstanding debt,"Hilliou noted. "We are in prime position this year to takeadvantage of acquisition and management opportunities," hesaid.

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Among the first-quarter highlights that Hilliou cited was theperformance of its FireKeepers Casino in Battle Creek, MI, which"continues to impress since its opening last summer," according toHilliou. Full House owns a 50% interest in Gaming EntertainmentMichigan (GEM), which manages FireKeepers. Hilliou noted that GEMearned approximately $16 million in management fees in the firsteight months of operations.

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Hilliou also outlined the performance of Stockman’s Casino inNorthern Nevada, which "had a challenging quarter due to poorweather and continued economic weakness in Northern Nevada,"according to the Full House chairman. "However, our market share ofslot revenue remained steady" despite the tough conditions, hesaid.

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The company reported net income of $2 million and 11 cents pershare for the quarter ended March 31, compared with $500,000 andthree cents per share in the same quarter a year ago. The companyachieved the results in spite of a 7% decline in casino, food andbeverage, and other revenue in comparison with the same quarterlast year. It said the decline was caused primarily by lower casinorevenue at Stockman’s Casino due to general weakness in the economyand inclement weather in Northern Nevada.

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