Full House Resorts To Sell Stockman's Casino In Nevada In $9.2 Mln Deal

(RTTNews) - Full House Resorts Inc. (FLL) announced Tuesday that it has entered into an agreement, through its unit Stockman's Casino, Inc., to sell the land, building, and certain other operating assets of Stockman's Casino in Fallon, Nevada for total gross proceeds of around $9.2 million.

The asset sale deal with privately-owned Clarity Game LLC is expected to occur in two transactions. The company would sell Stockman's real property for $7.0 million, expected to close in late-September 2024.

Further, it will sell certain remaining operating assets for $2.2 million, upon the receipt of customary gaming approvals.

Full House Resorts said it will temporarily pay monthly rent of $50,000 to Clarity, and will continue to operate Stockman's Casino, until the closing of the second transaction.

Upon the second closing, the Company will transfer all of Stockman's daily operations to Clarity.

Daniel Lee, President and Chief Executive Officer of Full House Resorts, said, "As we have continued to grow in size, we find it prudent to focus on our larger properties in our portfolio, including our newly-opened Chamonix and American Place casinos."