Grand Victoria to sell for $43 million

RISING SUN, IN (FOX19) - Grand Victoria Casino has been sold to a Las Vegas-based company for $43 million.

The announcement came Monday from Full House resorts. The agreement is subject to Full House obtaining financing for the purchase and regulatory approvals. The company anticipates having a closing in the first quarter of 2011.

Grand Victoria Riverboat Casino has 40,000 square feet of gaming space with almost 1,400 slot and video poker machines and 37 table games. The property includes a 201-room hotel with spa, pool, meeting space and a pavilion

The 300-acre grounds also contain an 18-hole Scottish links golf course with full-service clubhouse.

"This property is perfectly sized to complement our current business and we believe the transaction will create long-term shareholder value," said Andre M. Hilliou, Chairman and Chief Executive Officer of Full House.  "We look forward to having a great relationship with the local communities and the state of Indiana as we pursue long-term success."

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