Full House amends second-lien credit agreement, increase interest rate

By Susanna Moon

Chicago, July 22 – Full House Resorts, Inc. amended its second-lien credit agreement Friday with ABC Funding, LLC as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The second-lien amendment revises financial ratio covenants as of June 30 through the term of the loan and raises the interest rate by 100 basis points to 14.25%.

The company also amended its first-lien credit agreement on June 30 with Capital One, NA as administrative agent, extending the period for draws against the $10 million term loan for the hotel construction at Silver Slipper Casino to March 31, 2015.

The first-lien amendment also revises financial ratio covenants as of June 30 and going forward.

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

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