{"id":1004093552,"date":"2014-03-28T14:44:47","date_gmt":"2014-03-28T22:44:47","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=250353"},"modified":"2025-02-19T05:58:21","modified_gmt":"2025-02-19T13:58:21","slug":"full-house-pays-62m-for-metro-memphis-casino","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/full-house-pays-62m-for-metro-memphis-casino\/","title":{"rendered":"Full House Pays $62M for Metro Memphis Casino"},"content":{"rendered":"<p><em>By Eliza Theiss, Associate Editor<\/em><\/p>\n<p>Full House Resorts Inc. announced it has entered into a definitive agreement with The Majestic Star Casino LLC\u00a0to purchase Fitzgerald\u2019s Casino for $62 million. The regional casino-gaming company, which is oriented toward serving local populations,\u00a0 stated it will implement $7 million worth of renovations at the Tunica, Miss. property.<\/p>\n<div id=\"attachment_250366\" class=\"wp-caption alignright\" style=\"width: 310px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/03\/Fitz.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-250366\" title=\"Fitzgerald's Casino\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/03\/Fitz.jpg\" alt=\"Fitzgerald's Casino\" width=\"300\" height=\"164\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Fitzgerald&#8217;s Casino<\/p>\n<\/div>\n<p>The buyer will finance the acquisition and renovations with a combination of proceeds obtained from the refinancing of its existing credit facilities with a new $125 million credit facility, and from equity offering.<\/p>\n<p>Full House will pay $62 million for all the outstanding membership interests of The Majestic Star Casino, the entity operating the facility. The price is exclusive of working capital and other adjustments, fees and expenses.<\/p>\n<p>Located in the Memphis Metropolitan Area, the Fitz Casino,\u00a0 commonly known as the Fitz Casino, comprises a 506-key hotel with 68 suites, and a 38,000-square-foot gaming facility with over 1,100 video poker and slot machines and 24 table games. Sprawling on a 53-acre site with views of the Mississippi River, the Fitz Casino features amenities such as 8,100 square feet of multi-purpose event space, with the largest facility offering 7,500 square feet of meeting space, indoor pool and Jacuzzi, fitness center, two casino bars, a fine dining restaurant, quick service restaurant and a buffet.<\/p>\n<p>The Fitz Casino\u2019s 250-mile radius catchment area houses a population of $14 million, with Memphis being its most significant market. According to a news release, the casino generated an unaudited EBITDA of about $10.1 million for the 2013 fiscal year. \u201cThis property fits our acquisition strategy perfectly,\u201d said Full House Chairman and CEO Andre M. Hilliou, adding, that \u201cthe property has historically been well run and maintained under the current management team, however we believe that we can (\u2026) further improve the profitability of the Fitz casino.\u201d<\/p>\n<p>Full House tapped Macquarie Capital to serve as financial advisor on the acquisition, which is expected to close in the third quarter of 2014.<\/p>\n<p><em>Image via the Fitz CasinoTunica Facebook page<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Full House Resorts, Inc. a locals-oriented, regional casino gaming company, has announced entering into a definitive agreement with The Majestic Star Casino LLC to purchase Fitzgerald&rsquo;s Casino for $62 million.<\/p>\n","protected":false},"author":49,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[1595,1815],"class_list":["post-1004093552","post","type-post","status-publish","format-standard","hentry","category-latest","tag-memphis","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Full House Pays $62M for Metro Memphis Casino - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/full-house-pays-62m-for-metro-memphis-casino\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Full House Pays $62M for Metro Memphis Casino\" \/>\n<meta property=\"og:description\" content=\"Full House Resorts, Inc. a locals-oriented, regional casino gaming company, has announced entering into a definitive agreement with The Majestic Star Casino LLC to purchase Fitzgerald&rsquo;s Casino for $62 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/full-house-pays-62m-for-metro-memphis-casino\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-03-28T22:44:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-19T13:58:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/03\/Fitz.jpg\" \/>\n<meta name=\"author\" content=\"Eliza Theiss\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/full-house-pays-62m-for-metro-memphis-casino\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/full-house-pays-62m-for-metro-memphis-casino\\\/\"},\"author\":{\"name\":\"Eliza Theiss\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/de1353a5de72f96494054df3ecca7de4\"},\"headline\":\"Full House Pays $62M for Metro Memphis Casino\",\"datePublished\":\"2014-03-28T22:44:47+00:00\",\"dateModified\":\"2025-02-19T13:58:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/full-house-pays-62m-for-metro-memphis-casino\\\/\"},\"wordCount\":334,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/full-house-pays-62m-for-metro-memphis-casino\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/03\\\/Fitz.jpg\",\"keywords\":[\"Memphis (No longer used)\",\"National\"],\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/full-house-pays-62m-for-metro-memphis-casino\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/full-house-pays-62m-for-metro-memphis-casino\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/full-house-pays-62m-for-metro-memphis-casino\\\/\",\"name\":\"Full House Pays $62M for Metro Memphis Casino - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/full-house-pays-62m-for-metro-memphis-casino\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/full-house-pays-62m-for-metro-memphis-casino\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/03\\\/Fitz.jpg\",\"datePublished\":\"2014-03-28T22:44:47+00:00\",\"dateModified\":\"2025-02-19T13:58:21+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/de1353a5de72f96494054df3ecca7de4\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/full-house-pays-62m-for-metro-memphis-casino\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/full-house-pays-62m-for-metro-memphis-casino\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/full-house-pays-62m-for-metro-memphis-casino\\\/#primaryimage\",\"url\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/03\\\/Fitz.jpg\",\"contentUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/03\\\/Fitz.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/full-house-pays-62m-for-metro-memphis-casino\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Full House Pays $62M for Metro Memphis Casino\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/de1353a5de72f96494054df3ecca7de4\",\"name\":\"Eliza Theiss\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/96965f7dc4c1c5276e67c2727672b8636c299791a627dca31fda556cf0db9758?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/96965f7dc4c1c5276e67c2727672b8636c299791a627dca31fda556cf0db9758?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/96965f7dc4c1c5276e67c2727672b8636c299791a627dca31fda556cf0db9758?s=96&d=mm&r=g\",\"caption\":\"Eliza Theiss\"},\"description\":\"Eliza Theiss is a senior writer reporting real estate trends in the US. Her work has been cited by CBS News, Curbed, The Los Angeles Times, and Forbes among others. With an academic background in journalism, Eliza has been covering real estate since 2012. Before joining PropertyShark, Eliza was an associate editor at Multi-Housing News and Commercial Property Executive. She has also contributed extensively to CommercialEdge. Reach her at eliza.theiss@yardi.com\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/eliza\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Full House Pays $62M for Metro Memphis Casino - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/full-house-pays-62m-for-metro-memphis-casino\/","og_locale":"en_US","og_type":"article","og_title":"Full House Pays $62M for Metro Memphis Casino","og_description":"Full House Resorts, Inc. a locals-oriented, regional casino gaming company, has announced entering into a definitive agreement with The Majestic Star Casino LLC to purchase Fitzgerald&rsquo;s Casino for $62 million.","og_url":"https:\/\/www.commercialsearch.com\/news\/full-house-pays-62m-for-metro-memphis-casino\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2014-03-28T22:44:47+00:00","article_modified_time":"2025-02-19T13:58:21+00:00","og_image":[{"url":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/03\/Fitz.jpg","type":"","width":"","height":""}],"author":"Eliza Theiss","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/full-house-pays-62m-for-metro-memphis-casino\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/full-house-pays-62m-for-metro-memphis-casino\/"},"author":{"name":"Eliza Theiss","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/de1353a5de72f96494054df3ecca7de4"},"headline":"Full House Pays $62M for Metro Memphis Casino","datePublished":"2014-03-28T22:44:47+00:00","dateModified":"2025-02-19T13:58:21+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/full-house-pays-62m-for-metro-memphis-casino\/"},"wordCount":334,"commentCount":0,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/full-house-pays-62m-for-metro-memphis-casino\/#primaryimage"},"thumbnailUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/03\/Fitz.jpg","keywords":["Memphis (No longer used)","National"],"articleSection":["News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.commercialsearch.com\/news\/full-house-pays-62m-for-metro-memphis-casino\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/full-house-pays-62m-for-metro-memphis-casino\/","url":"https:\/\/www.commercialsearch.com\/news\/full-house-pays-62m-for-metro-memphis-casino\/","name":"Full House Pays $62M for Metro Memphis Casino - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/full-house-pays-62m-for-metro-memphis-casino\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/full-house-pays-62m-for-metro-memphis-casino\/#primaryimage"},"thumbnailUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/03\/Fitz.jpg","datePublished":"2014-03-28T22:44:47+00:00","dateModified":"2025-02-19T13:58:21+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/de1353a5de72f96494054df3ecca7de4"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/full-house-pays-62m-for-metro-memphis-casino\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/full-house-pays-62m-for-metro-memphis-casino\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/full-house-pays-62m-for-metro-memphis-casino\/#primaryimage","url":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/03\/Fitz.jpg","contentUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/03\/Fitz.jpg"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/full-house-pays-62m-for-metro-memphis-casino\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Full House Pays $62M for Metro Memphis Casino"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/de1353a5de72f96494054df3ecca7de4","name":"Eliza Theiss","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/96965f7dc4c1c5276e67c2727672b8636c299791a627dca31fda556cf0db9758?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/96965f7dc4c1c5276e67c2727672b8636c299791a627dca31fda556cf0db9758?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/96965f7dc4c1c5276e67c2727672b8636c299791a627dca31fda556cf0db9758?s=96&d=mm&r=g","caption":"Eliza Theiss"},"description":"Eliza Theiss is a senior writer reporting real estate trends in the US. Her work has been cited by CBS News, Curbed, The Los Angeles Times, and Forbes among others. With an academic background in journalism, Eliza has been covering real estate since 2012. Before joining PropertyShark, Eliza was an associate editor at Multi-Housing News and Commercial Property Executive. She has also contributed extensively to CommercialEdge. Reach her at eliza.theiss@yardi.com","url":"https:\/\/www.commercialsearch.com\/news\/author\/eliza\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004093552","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/49"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004093552"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004093552\/revisions"}],"predecessor-version":[{"id":1004627186,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004093552\/revisions\/1004627186"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004093552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004093552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004093552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}