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LAS VEGAS, Nov. 06, 2017 (GLOBE NEWSWIRE) -- Full House Resorts announced today plans to build a 150-guest room, four-star hotel in Cripple Creek, Colorado, adjoining and integral with the Company’s existing Bronco Billy’s Casino and Hotel. In addition to the new luxury hotel, the expansion is expected to include a spa, parking garage, convention and entertainment space, and a high-end restaurant.

Photos accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/c5225d2d-df8b-473c-a0a6-97c2cf3e4b94
The Company has recently acquired land and options on land surrounding Bronco Billy’s, forming an approximately six-acre site. Cripple Creek does not have a hotel of such size and quality, despite the fact that most of its customers reside in Colorado Springs, approximately an hour away. The assembled land package includes the former Imperial Casino, which Full House intends to reopen; the historic Imperial Hotel, which offers 12 refurbished guest rooms and would be part of the complex; and approximately four acres of vacant or underutilized land.
When was the last time you visited a casino?. How many times do you visit casinos per year?. 0 – 10 times 11 – 20 times 21 – 30 times 31 – 50 times 50+ times Do you play slots or tables? Welcome to Bronco Billy’s! We are your #1 stop for all of the fun in Cripple Creek. We offer fun, food, and fortune every day for the serious gamer, or let us be your first introduction to what a.
’We believe that the Colorado Front Range, and particularly the southern part of such area, has tremendous growth potential. The gaming spend per capita today in the region is significantly below the national average and far below other markets with similar demographics and geography. We think that reflects the lack of non-gaming amenities being offered. Cripple Creek only has approximately 500 guest rooms and many of those are of mediocre quality,’ noted Daniel R. Lee, President and Chief Executive Officer of Full House Resorts. Lee also noted that the Denver/Colorado Springs area is enjoying strong population and economic growth.
*Bronco Billy’s Casino & Hotel At Bronco Billy’s Casino on historic East Bennett Ave, you can play, eat and stay. This fan favorite casino features a variety of table games and video gaming in Cripple Creek.
*On a Saturday in April 2017, I arrived at Bronco Billy’s with my husband, played for a bit and then checked into our hotel room across the street to relax, nap, and watch some TV. A couple of hours later, we returned to the casino, sat down at the Big Bang machine and planned to enjoy the steakhouse for dinner.
Colorado originally had a $5 maximum bet in its casinos, making it uneconomical for casino operators to build and operate high-quality hotels and other non-gaming amenities, as they do in other markets. The law, however, was changed to allow a $100 maximum bet beginning in 2009. ’That changed the economics significantly,’ noted Lewis Fanger, Chief Financial Officer of Full House Resorts. Casino operators in Cripple Creek’s rival city of Black Hawk, which caters principally to Denver, responded by building quality hotels and other non-gaming amenities, a trend that continues today. The Bronco Billy’s hotel will be the first new hotel in Cripple Creek in more than ten years and it will bring a new level of hospitality to the historic mountain town.
Full House looks forward to working with the City of Cripple Creek and Teller County on certain entitlements and approvals that are necessary for construction of the hotel. Most significantly, this includes closing a street and a portion of a public alley that run through the site. Closure of the streets allows the hotel, parking garage and convention and meeting space to be built adjoining the Bronco Billy’s casino, which is critical for its economic success. Full House had a transportation study prepared by Felsburg Holt & Ullevig that shows that closure of such streets would not significantly impact traffic flow.
’We’ve spent almost a year assembling land and designing a project that will provide a luxury experience and complement the unique historic nature of the town,’ said Lee. ’We believe it will help transform Cripple Creek into a stronger, year-round tourism destination.’
Conference Call Information
The Company will host a conference call tomorrow, November 7, 2017, at 4:30 p.m. ET (1:30 p.m. PT) to discuss its planned expansion of Bronco Billy’s and its financial results for the third quarter of 2017. Interested parties can access the live audio webcast from the Company’s website at www.fullhouseresorts.com under the investor relations section. The conference call can also be accessed by dialing (800) 289-0438 or, for international callers, (323) 794-2423. The passcode is 7646678.
Forward-looking Statements
This press release contains statements by Full House and its officers that are ’forward-looking statements’ within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Some forward-looking statements in this press release include those regarding our planned expansion of Bronco Billy’s and related amenities. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the control of Full House. Such risks include, without limitation, regulatory and governmental approvals, the ability to obtain financing upon reasonable terms, the increase in Full House’s indebtedness if financing is obtained, construction risks, competition and general macroeconomic conditions. Additional information concerning potential factors that could affect Full House’s financial condition and results of operations is included in the reports Full House files with the Securities and Exchange Commission, including, but not limited to, its Form 10-K for the most recently ended fiscal year and the Company’s other periodic reports filed with the Securities and Exchange Commission. The Company is under no obligation to (and expressly disclaims any such obligation to) update or revise its forward-looking statements as a result of new information, future events or otherwise. Actual results may differ materially from those indicated in the forward-looking statements.
About Full House Resorts, Inc.
Full House Resorts owns, leases, develops and operates gaming facilities throughout the country. The Company’s properties include Silver Slipper Casino and Hotel in Hancock County, Mississippi; Bronco Billy’s Casino and Hotel in Cripple Creek, Colorado; Rising Star Casino Resort in Rising Sun, Indiana; and Stockman’s Casino in Fallon, Nevada. The Company also operates the Grand Lodge Casino at the Hyatt Regency Lake Tahoe Resort, Spa and Casino in Incline Village, Nevada under a lease agreement with the Hyatt organization. Further information about Full House Resorts can be viewed on its website at www.fullhouseresorts.com and on its Facebook page at www.facebook.com/FHResorts.Parking Garage Construction Slated for This Spring
~ by Rick Langenberg ~
One of Cripple Creek’s most ambitious proposed casino/hotel projects may return to the public forefront.
Only this time, the council wants to see tangible progress, and not just elaborate conceptual drawings.
That was the theme of last week’s brief council meeting that focused on a key casino development issue. Dan Lee, chief executive officer of Full House Resorts, owner of Bronco Billy’s, told elected leaders their company is committed to proceeding with earlier plans for a huge hotel addition, but with a revised proposal.
And unlike a presentation last summer, .the Full House CEO expressed much optimism regarding their company’s future and that of Cripple Creek.
“COVID is still an issue,” said Lee. But on the upside, he said that since reopening in the middle of June, following a three-month closure, Bronco Billy’s has done quite well.
He also cited hopeful financial signs. “The vaccine is right around the corner,” said Lee, who also mentioned a more favorable investor climate. “It’s a better project, if we have hotel rooms,” said the Full House Resorts CEO. And with the approval of plans to end betting limits and add new games, the picture gets even better, noted Lee.
Baxter Lee, general manager, of Bronco Billy’s, stressed similar comments later in the discussion. “We are still committed to the project,” he said. “The company’s commitment is 100 percent.”
An attorney for Full House Resorts, indicated that the new renderings, mentioned by Dan Lee, are just aimed at “making the project better.”Bronco Billy’s Hotel And Casino Cripple Creek
However, the council last week couldn’t officially address or even listen to any revised plans, unless a new application is submitted to the city. This restriction was echoed by Councilwoman Meghan Rozell and by city attorney Erin Smith. “It wouldn’t be appropriate,” said Smith.
Both Rozell and Smith were referring to the fact that Billy’s previous multimillion-dollar hotel development pursuit, approved in 2018, was done through a quasi, judicial process, meaning that details weren’t presented until an official public hearing. If Billy’s wants to present a revised hotel expansion plan that alters from previous approvals, then it needs to file the proper paper/permit work with the staff.
This previous approval followed a series of lively meetings, as the proposed nearly $100 million development was given the designation as a project of special merit. This allowed the company to take down a few historic structures and it set the stage for the vacation of a major roadway.
But with the COVID epidemic, the project was officially put on hold last summer, and the city, in a rare move, agreed to relinquish a nearly $1 million performance bond. A certain amount, estimated at about $150,000, was retained, to protect the city to do the necessary infrastructure work, if the developer doesn’t do any aspect of the project.
In fact, the council at last week’s meeting was more interested in construction details with the new mega, indoor parking garage, the first phase of the Billy’s development. Mayor Milford Ashworth urged the casino company to proceed with the first phase as soon as possible. He cited an erosion situation in the project site area, if work doesn’t occur. “If we get a rainy season, we will have a problem,” said Ashworth.
He described a needed amount of necessary storm drainage work.
Concerns were also raised if the reduced performance bond on the project is enough to cover the necessary infrastructure. Blank bingo card template.
Jeff Regester, who has been hired to improve the current site and do the storm drainage project, stated that this amount is adequate to do the necessary work. Regester said he plans to work on the site shortly, in preparation for the parking garage construction. “We expect to crank up very soon,” said Regester.
The Bronco Billy’s representatives stated that the company hopes to get the start on the parking garage in late March or early April.
And in the near future, the company plans to unveil revised plans for their hotel.
That’s good news for the city council, which has received concerns about the lack of progress with this project after the elected leaders gave Billy’s a hefty amount of leeway from the current historic preservation guidelines in previous approvals.
During the earlier hearings in 2018, city officials and residents clearly favored the push for more hotel rooms and resort-like amenities, even if certain historic rules aren’t complied with.
No Big Surprises in 2020 Election
In other action last week, Solomon Malick of the Peak Government Affairs, the city’s head legislative lobbyist, gave an update on the 2020 election.
Malick told the council that the face of the state House and Senate hasn’t changed that much, with the results. Free offline casino games for android emulator.
On the downside, he stated that the coronavirus has crippled state spending pursuits and that any bill with a fiscal note is as good as dead. Unless fiscal legislation is tied to a stimulus package, it won’t get approved.
And on the upside, Malick touted the overwhelming state support of Amendment 77, the proposal to end betting limits and add new games in Cripple Creek, Central City and Black Hawk. Malick believes this will serve as big plus for the community.
He also -praised the recent cooperative effort to keep the Cripple Creek casinos open, giving kudos to gaming operators, city leaders and state officials. “It is going to have to be a team effort,” said Malick in citing the strong level of cooperation. “This is how we need to be working together.”
Similar sentiments were echoed by Interim City Administrator Ray White, who cited this as a prime team effort, and stated that many players were involved.
On a statewide basis, Malick told the council that election 2020 re-signaled another clear trend: Colorado is now Blue Country. He stated that voters sided with Democratic nominee presidential nominee Joe Biden by 13 percentage points over Incumbent President Donald Trump.
This more than doubled the number of voters (on a percentage basis) who picked the previous presidential Democratic nominee, Hillary Clinton. In the heavily contested U.S. Senate race between Democrat challenger John Hickenlooper and Cory Gardner, state voters favored Hickenlooper by a nine percentage points.Bronco Billy’s Hotel And Casino Cripple Creek Co
“The state is moving in more of a progressive direction,” admitted Malick.
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