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.

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