Full House Resorts gets $55 million first-lien credit agreement

By Sara Rosenberg

New York, July 9 - Full House Resorts entered into its $55 million first-lien credit facility agreement, according to an 8-K filed with the Securities and Exchange Commission late Friday.

The facility consists of a $50 million term loan and a $5 million revolver.

Capital One is the administrative agent on the deal that was entered into on June 29.

Proceeds will be used to fund the acquisition of the Silver Slipper Casino in Hancock County, Miss.

Funding of the first-lien facility is subject to the receipt of all applicable gaming approvals for the acquisition, and the further entry of second-lien credit documents for about $20 million.

The proposed $20 million second-lien loan is being led by Summit Partners Credit Advisors LP.

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

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