Full House Resorts Announces Successful Conclusion of Consent Solicitation With Respect to Its 8.250% Senior Secured Notes Due 2028

About this update from Full House Resorts, Inc.

[{"type":"text","content":"LAS VEGAS, Feb. 01, 2022 (GLOBE NEWSWIRE) -- Full House Resorts, Inc. (“Full House” or the “Company”) (Nasdaq: FLL) announced today that it has successfully concluded its previously announced solicitation (the “Solicitation”) of consents (the “Consents”) to amend the Indenture (such amendments, the “Amendments”) dated as of February 12, 2021 (as amended or supplemented through the date hereof, the “Indenture”) governing Full House’s 8.250% Senior Secured Notes due 2028 (the “Notes”) (CUSIP Nos. 359678 AC3 and U3232F AB3) to allow for the incurrence of up to $100.0 million of additional Notes (the “Additional Notes”): (i) to develop, equip and open The Temporary by American Place, our planned temporary casino in Waukegan, Illinois (“The Temporary”) which we intend to operate while we design and construct our permanent American Place facility, (ii) to pay the transaction fees and expenses of the offer and sale of the Additional Notes and (iii) for general corporate purposes. The Consents will also permit the Company to increase the available borrowings under its credit agreement from $15.0 million to $40.0 million. The aggregate outstanding principal amount of the Notes, prior to the issuance of the Additional Notes, is $310.0 million. The Solicitation expired at 5:00 p.m., New York City time, on February 1, 2022 (the “Expiration Time”). Consents were received from a majority of holders of the Notes. Full House will pay a cash payment (the “Consent Fee”) of $10.00 per $1,000 principal amount of Notes with respect to which a valid Consent to the Amendments was delivered (and not validly revoked) prior to the Expiration Time. The Consent Fee will only be payable if all conditions to the Solicitation have been satisfied or waived and will be paid substantially concurrently with the issue date of the Additional Notes. This press release is for informational purposes only and is neither an offer to sell nor a solicitation of an offer to buy any security. The Additional Notes will not be registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. About Full House Resorts Full House Resorts owns, leases, develops and operates gaming facilities throughout the country. The Company’s properties include Silver Slipp...

More updates from Full House Resorts, Inc.