Full House Resorts Update On Huron Potawatomi Project
BATTLE CREEK, Michigan, October 20, 2005. Full House Resorts, Inc. ("Full House") reported today that its Battle Creek, Michigan project in conjunction with the Nottawaseppi Huron Band of Potawatomi Indians is proceeding on schedule. The public comment period related to an Environmental Impact Statement (EIS) being prepared on behalf of the Bureau of Indian Affairs (BIA) and National Indian Gaming Commission (NIGC) has closed. The EIS will be placed in final form for approval by the government agencies. These approvals are a prerequisite for the BIA taking the land into trust for use for the gaming facility and for the NIGC to approve the Management Agreement between the Huron Potawatomi and Full House. Approval of the EIS is anticipated shortly.
Of the comments received from the public, the majority were favorable to the project, including comments from most of the local and state governmental agencies affected by the development. The final EIS will incorporate suggestions received from the public comments. Full House is pleased to report that this massive undertaking, encompassing some 600 pages of text and diagrams and analyzing impacts from socio-economic to biological to physical, which is a requirement of federal law is nearing the end of its process. This brings the casino project one step closer to fruition. Full House presently projects opening the casino sometime in 2007.
Andre Hilliou, Chief Executive Officer of Full House, stated that he is pleased that this project is progressing and is on schedule. "Although we have been delayed substantially over the years, we are nearing the point when we can begin to provide employment and economic opportunities to the good people of this area and especially bring economic self-sufficiency and self-determination to the Huron Potawatomi people."
Full House projects that annual gross revenues from the development project should approximate $150 million to $200 million and its income from management of the facility is projected to be between $7 million and $10 million annually for the term of the management contract.
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