Gaming commission approves sale of casino - WLOX.com - The News for South Mississippi

Gaming commission approves sale of casino

Silver Slipper Casino was sold Thursday to Full House Resorts. Silver Slipper Casino was sold Thursday to Full House Resorts.
HANCOCK COUNTY, MS (WLOX) -

After a brief introduction of the Full House Resorts directors and a glimpse of their plans for the Silver Slipper Casino, the Mississippi Gaming Commission unanimously approved the sale.

General Manager John Ferrucci said, "It's a shot in the arm for the entire gaming industry because this is the confidence everyone needs. The capital dollars are starting to free up a little bit, the venture money is freed up, these guys were able to borrow over $70 million to come and complete this project."

The directors are expected to sign closing papers by October 1, but before actually taking ownership they have big plans.

Full House Resorts Chief Operating Officer Mark Miller said, "We are really excited about the acquisition of the Silver Slipper. It's a great property as it is, it performs exceptionally well, but we think a hotel will add a great deal and will provide us with an opportunity to grow the business."

Miller said building a hotel is a top priority.

"We are not in a position to commit yet on what we are going to build or when we will build it, but we are anxious to get started with John Ferrucci and his team and look at the plans they put in place and to try and make decisions in the relative near future," Miller said.

Other than the hotel, casino goers will not see much of a difference. The management team and daily operations will stay the same and guests will still be able to use the points they have acquired.

"As a matter of fact the new owners are talking about making that a little more generous," Ferrucci said. "We are really confident this is the end of an era and the beginning of a new one and the new one is very exciting."

Ferrucci said construction on the hotel could get underway as soon as January and the new owners have also mentioned the possibility of adding a fourth restaurant to the property.

Copyright 2012 WLOX. All rights reserved.

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