Full House Resorts intends to raise $40m through a stock offering in order to “significantly strengthen” its application to build a casino in the northern Chicago suburb of Waukegan, Illinois.
The share offering consists of 6,015,000 shares priced at $6.65 each. In addition, the underwriters of the offering may purchase a further 902,250 shares at the same price.
The offering is set to close on March 29.
Full House will use the proceeds to help fund its proposed American Place casino in Waukegan The operator is one of three bidders to receive the license for this site, alongside North Point Casino and Churchill Downs Incorporated and Rush Street Gaming’s Midwest Gaming venture. All three have been endorsed by the city of Waukegan.
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