Full House Resorts closes on casino-management contract sale

Full House Resorts Inc. said Monday it had closed on a $97.5 million sale of its interest in the FireKeepers casino management contract.

The Las Vegas-based casino management company used a portion of the proceeds to pay off $25.3 million in debt and to close a $4.5 million credit agreement it had with Wells Fargo & Co.

Since its August 2009 opening, Full House has managed the $300 million FireKeepers casino in Battle Creek, Mich., for the Nottawaseppi Huron Band of Potawatomi Indians.

But the tribe negotiated a buyout, four years early, of the Full House contract.

The sale also includes Full House’s 50 percent stake in Gaming Entertainment Michigan, a joint venture with RAM Entertainment LLC.

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