LV company buys interest in three Indian casino contracts

Tuesday, April 3, 2001 | 11:42 a.m.

Full House Resorts Inc. of Las Vegas announced it bought out GTECH Corp.'s 50 percent interest in three Indian casino management companies for $1.8 million. GTECH had been a joint partner with Full House in all three ventures.

The move gives Full House total control of management contracts to operate casinos in North Bend, Ore., Battle Creek, Mich., and Palm Springs, Calif.

Currently, the only casino in operation under the contracts is the Coquille Tribe's Mill Casino in Oregon; that contract expires in August 2002, and is generating about $2.2 million in annual management fees. Full House is working with the Huron Potawatomi Tribe to develop a casino near Battle Creek, but is awaiting approval for its management contract from the National Indian Gaming Commission. Full House is now "evaluating strategies" for the development of a casino with the Torres Martinez Tribe southeast of Palm Springs.

Full House is also currently operating a casino in Harrington, Del., though this contract was not involved in Monday's purchase.