Business
FULL HOUSE RESORTS TO TEMPORARILY SUSPEND OPERATIONS AT ITS RISING STAR CASINO RESORT IN INDIANA
LAS VEGAS, March 15, 2020 (GLOBE NEWSWIRE) -- Full House Resorts, Inc. (NASDAQ: FLL) announced today that, pursuant to an order from the Indiana Gaming
About this update from Full House Resorts, Inc.
[{"type":"text","content":"LAS VEGAS, March 15, 2020 (GLOBE NEWSWIRE) -- Full House Resorts, Inc. (NASDAQ: FLL) announced today that, pursuant to an order from the Indiana Gaming Commission, it will temporarily suspend operations at its Rising Star Casino Resort on March 16, 2020 for a period of at least two weeks. \n The Company has also temporarily paused construction of its new parking garage at Bronco Billy’s Casino & Hotel in Cripple Creek, Colorado, which is still early in the construction phase. “These are challenging times. Our primary concern has always been the health and well-being of our guests and employees,” said Daniel R. Lee, President and Chief Executive Officer of Full House Resorts. “We know of no instances of COVID-19 at any of our resorts. However, we understand the magnitude of this public health emergency and the necessity to take certain actions. We look forward to welcoming back all of our guests and employees as soon as possible.” Continued Mr. Lee, “As of December 31, 2019, the Company had $29.9 million in cash and equivalents. Approximately $15 million of this amount was designated for construction of the parking garage and approximately $10 million is used in daily operations. In these uncertain times, the Company chose to pause construction of its parking garage out of an abundance of caution. We intend to resume construction if and when conditions warrant.\" Forward-looking StatementsThis press release may contain statements by Full House and its officers that are “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Some forward-looking statements in this press release include, without limitation, those regarding the coronavirus (COVID-19) and our expectations regarding the reopening of Rising Star and the length of time the IGC will require casinos in the state to remain closed. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the control of Full House. Such risks include, without limitation, disruptions in our operations and loss of revenue due to pandemics, epidemics, widespread health emergencies...