Full House Resorts, through its wholly-owned subsidiary Stockman’s Casino, has entered into an agreement with privately-owned Clarity Game to sell the land, building, and certain other operating assets of Stockman’s Casino in Fallon, Nevada for total gross proceeds of approximately $9.2 million. The asset sale is expected to occur in two transactions: the sale of Stockman’s real property for $7.0 million, expected to close in late-September 2024; and the sale of certain remaining operating assets for $2.2 million, upon the receipt of customary gaming approvals. The Company will temporarily pay monthly rent of $50,000 to Clarity – and will continue to operate Stockman’s Casino – until the closing of the second transaction. Upon the second closing, the Company will transfer all of Stockman’s daily operations to Clarity.
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