Full House outlines sports wagering moves amid Chicago casino proposal

Full House Resorts has outlined significant plans for expansion across various US jurisdictions, as the firm posts a slight revenue nudge of 1.1 per cent to $41.7m during the year’s second quarter.

Following the approval of sports wagering within Indiana the organisation is seeking a “partner with unique expertise” as it plots the entry of its Rising Star Casino Resort sometime in the autumn months.

With online sports wagering also expected to go live in the not too distant future, Full House has also revealed it has three mobile skins as the firm seeks to partner with a further trio of brands.

The company issued assurances that a potential new casino located in Terre Haute, Indiana, should have little or no impact on Rising Star, with an evaluation underway to decide whether to pursue the potential expansion opportunity.

Full House’s Bronco Billy’s Casino and Hotel is also making plans for its own sports betting debut, with legislators in its Colorado home recently approving the activity, subject to statewide voter approval.

The Centennial State however has included the provision of online sports wagering within its initial manoeuvres, allowing for one mobile skin per casino licence, with Full House, who holds three casino licences within the state, gaining the green-light to obtain the maximum allowed for a single company.

Assuming voters approve sports wagering in the November election, the organisation expects to partner on a trio internet sports wagering sites in Colorado, in addition to an on-site sportsbook, with operations slated to begin in mid-2020.

“We expect sports wagering to have a significant impact”

Daniel Lee, president and CEO of Full House Resort, explained: “Both Rising Star and Bronco Billy’s are also preparing for the start of sports wagering in Indiana and potentially in Colorado.  

“Sports wagering will launch on-site at Rising Star in the fall, followed by online sports wagering shortly thereafter throughout Indiana. Through our online sports wagering partners, anyone in the state, including those living in the populous areas around Indianapolis and Northwest Indiana, will be able to conveniently place sports wagers from anywhere in the state via the internet.  

“Given the positive impact of sports wagering at our Silver Slipper Casino in Mississippi over this past year, we expect sports wagering to have a significant impact at Rising Star. At Silver Slipper, for example, sports wagering directly contributed $443,000 to operating income for the first half of 2019.  

“Silver Slipper has achieved these results despite the lack of online sports wagering. At Rising Star, we anticipate three online sports wagering partners, each offering an online website, in addition to an on-site sportsbook.

“We expect an equally significant impact from sports wagering at Bronco Billy’s in Colorado, where legislators recently approved sports wagering subject to statewide voter approval in November.  

“Should voters approve it, Bronco Billy’s will also have an on-site sportsbook plus three online websites, as the new legislation allows for one mobile skin for each of the three gaming licenses that we hold in Colorado. We believe that sports wagering in Colorado could become available in the middle of next year.”

Further US-based growth for Full House Resorts follows Illinois Governor JB Pritzker rubber stamping a $45bn ‘Rebuild Illinois’ action plan, which also cleared the way for six new casinos to be developed across the state as part of a thorough gaming expansion.

Set to be located in Waukegan, Rockford, the South Suburbs, Williamson County, Danville and Chicago, the company submitted a proposal earlier this month to construct and operate American Place, a new casino and resort destination, in the former.

This proposal was in response to a ‘Request for Qualifications and Proposals’ issued by the city of Waukegan to select a preferred operator, and if selected Full House intends to build a casino with approximately 1,500 slot machines, 60 table games and a high-end boutique hotel.