LAS VEGAS-Full House Resorts has extended to early February the closing date for the sale of its 98-room Holiday Inn Express property in Fallon, NV. The locally based casino owner says in an SEC filing that the buyer requested the extension following “a delay in securing a financing commitment, which has since been obtained.”

The buyer is Dhillon Hospitality Management Inc. Inked in October and originally scheduled to close this month, the $7.2-million sale is now slated to close Feb. 11, 2008.

In return for the extension, Dhillon placed $125,000 in a non-refundable escrow account, adding to the original $75,000 non-refundable deposit. No other changes were made to the original purchase agreement, according to an SEC filing.

Full House acquired the Holiday Inn and the adjacent Stockman’s Casino in January for $27 million. The hotel has indoor and outdoor pools, sauna, fitness center, business center and meeting rooms. The casino has approximately 8,400 sf of gaming space, a bar, a fine dining restaurant and a coffee shop.

“The acquisition of Stockman’s creates the foundation for our entry into the local casino market,” said Full House CEO Andre Hilliou when it closed on the acquisition of the property in late January.

Full House expects to net approximately $6.8 million in after tax proceeds from the hotel sale. It intends to use the proceeds to reduce debt.

Full House owns, develops and manages gaming facilities. In addition to Stockman’s Casino, Full House receives a guaranteed fee from the operation of Harrington Raceway and Casino, formerly Midway Slots and Simulcast at the Delaware State Fairgrounds in Harrington, Delaware.

Full House also has three casino development and/or management agreements, one with the Nottawaseppi Huron Band of Potawatomi Indians for the development and management of a casino-resort in the Battle Creek, Michigan area, which is currently in development, another for the development of a gaming and entertainment development with the Nambé Pueblo of New Mexico, and a third with the Northern Cheyenne Nation of Montana for the development and management of a 27,000-sf gaming facility.

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