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ORGANIZATION AND DESCRIPTION OF BUSINESS | 12 Months Ended
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Dec. 31, 2014
Organization, Consolidation and Presentation Of Financial Statements [Abstract] |
ORGANIZATION AND DESCRIPTION OF BUSINESS | 1. ORGANIZATION AND DESCRIPTION OF BUSINESS Formed as a Delaware corporation in 1987, Full House Resorts, Inc., owns, operates, develops, manages, and/or invests in casinos and related hospitality and entertainment facilities. References in this document to “Full House,” the “Company”, “we”, “our,” or “us” refer to Full House Resorts, Inc. and its subsidiaries, except where stated or the context otherwise indicates. We currently own three casino properties and operate a fourth casino subject to a lease, as follows:
Property | Acquisition Date | Location | Slot Machines | Table Games | Hotel Rooms
Silver Slipper Casino (Owned) | 2012 | Bay St. Louis, MS (near New Orleans) | 938 | 29 | 129(1)
Rising Star Casino Resort (Owned) | 2011 | Rising Sun, IN (near Cincinnati) | 921 | 28 | 294(2)
Stockman’s Casino (Owned) | 2007 | Fallon, NV (one hour east of Reno) | 265 | 4 | --
Grand Lodge Casino (leased and part of the Hyatt Regency Lake Tahoe Resort) | 2011 | Incline Village, NV (North Shore of Lake Tahoe) | 254 | 20 | -- (3)
| (1) | The Silver Slipper Casino is expected to open its hotel in the first half of 2015.
| (2) | Includes a 190-room hotel that we own and operate, and an adjacent 104-room hotel that we operate pursuant to a 10-year capital lease.
| (3) | Under the Facilities Agreement dated June 29, 2011 with Hyatt Equities, L.L.C. we have the ability to provide rooms to our guests at the Hyatt Regency at Lake Tahoe upon mutually agreeable rates, as well as other amenities and services that cater to our guests and support our operations.
Until our three-year contract expired in September 2014, we also managed the Buffalo Thunder Casino and Resort, Cities of Gold and other gaming facilities, located in Santa Fe, New Mexico, for the Pueblo of Pojoaque. Through a 50% owned joint venture, we also previously managed the FireKeepers Casino near Battle Creek, Michigan for the Nottawaseppi Huron Band of Potawatomi until we sold our interest in March 2012. On February 26, 2014, we entered into an exclusivity agreement with Keeneland Association, Inc. (“Keeneland”) to own, manage, and operate instant racing and, if authorized, traditional casino gaming at racetracks in Kentucky, subject to completion of definitive documents for each opportunity. On November 17, 2014, both parties entered into a termination agreement to terminate all agreements between us. See Note 10 for further discussion of the termination of the Keeneland agreement. On November 28, 2014, Full House, and Daniel R. Lee, Bradley M. Tirpak and Craig W. Thomas (jointly and severally), the (“Shareholder Group”), entered into a Settlement Agreement (the “Settlement Agreement”) resulting in significant changes in the Company’s board of directors and management. The Company incurred significant costs involved with such changes. See Note 9 for additional discussion of the Settlement Agreement, amendment to the Company’s by-laws, and changes to the board of directors. We manage our casinos based on geographical regions within the United States. Accordingly, Stockman’s Casino and Grand Lodge Casino comprise a Northern Nevada business segment, while Rising Star and Silver Slipper are currently distinct segments.

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