Full House amends credit agreement to increase additional debt

By Wendy Van Sickle

Columbus, Ohio, Feb. 22 – Full House Resorts entered into a second amendment to its credit agreement with Capital One, NA, which, among other things, increased the amount of additional indebtedness permitted under the agreement to $40 million from $25 million, according to an 8-K filing with the Securities and Exchange Commission.

The company borrowed $36 million under the agreement in anticipation of the payment of gaming license fees necessary to open a temporary casino in Waukegan, Ill.

Full Houses said it has about $214 million of cash and equivalents on hand, including roughly $110 million of restricted cash reserved for the completion of its Chamonix construction project in Cripple Creek, Colo.

Full House is a Las Vegas-based owner, developer and manager of gaming facilities.

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