46°F
weather icon Clear
Las Vegas, NV
Casinos & Gaming

Full House Resorts closes $7.6 million loan with Nevada State Bank

By Chris SierotyLAS VEGAS REVIEW-JOURNAL
March 28, 2011 - 8:24 am
 

Full House Resorts Inc. announced Monday that with its acquisition of the Grand Victoria Casino and Resort in Indiana almost completed, it has terminated a multimillion dollar line of credit with Nevada State Bank.

The Las Vegas-based gaming company had no borrowing left on a $7.6 million line of credit with Nevada State Bank. Full House already has replaced its previous line of credit with $38 million from Wells Fargo Securities LLC, which is being used to complete the Grand Victoria Casino acquisition.

The agreement with Wells Fargo was for a $33 million term loan and a $5 million revolving line of credit, according to the company.

Full House plans to complete the $43 million deal in early April. On March 18, the Indiana Gaming Commission approved Full House’s license tied to the acquisition.

Don't miss the big stories. Like us on Facebook.
MORE STORIES
THE LATEST
 
Michigan man claims he was electrocuted by faulty lamp in Strip hotel
By David Danzis / RJ

The suit claims that in addition to “severe pain and shock”, the man also “sustained a traumatic brain injury, a concussion, aggravation of his post-traumatic stress disorder and post-traumatic headaches.”