Silver Slipper Mississippi Casino Merger Might be in the Works

Posted in Mississippi, USA Online Gambling News by No Comments

The Mississippi casino gambling industry is always in a state of flux across the nation and around the globe. Between aggressive expansion into online casino gambling, expansion of existing land-based operations and potential company mergers, you need a scorecard to keep track of everything that is going on these days in one of the most interesting industries to follow on a regular basis.

According to a recent post by ME Perez on the Sun Herald website, a possible merger between two casino companies in Mississippi comes on the heels of a rumor that Caesars Entertainment and Golden Nugget were planning to merge on a much larger scale. That report came out last week by the New York Post, but more recently it was discovered that Caesars would turn the offer down.

Discover How The Silver Slipper Mississippi Casino Merger Might be in the Works?

As far as the proposed merger covered by the Sun Herald, Z Capital Partners is proposing a merger between Affinity Gaming and Full House Resorts, as the parent company of Silver Slipper Casino in Hancock County, MS.

Mississippi Casino Merger Might be in the Works | Casino News
Monday’s announcement added that this would be a cash offer or stock purchase in the neighborhood of $132.5 million, which would equate to $1.79 a share of Full House stock on a fully diluted basis. Z Capital Partners is the parent company for Affinity Gaming after purchasing the company in 2017 for $580 million. The initial response from Full House management stated that the selling price was too low. With the company stock trading at $2.63 a share, it appears to be looking for a stronger offer to put this deal together.

Discover Local Casino Resorts Near You In Mississippi

In a prepared statement by Bradley Tirpak as a member of the board and Daniel Lee as president and CEO of Full House, the duo stated, “Our board has unanimously determined that the potential transaction referenced in your letter is not in the best interest of Full House Resorts and its stockholders. They went on to add that the standing offer “dramatically undervalues the company’s business and does not remotely reflect the company’s strategic value and future prospects.”

Will The Expansion Follow In Nevada, Colorado, Missouri and Iowa?

The response also included that Full House company representatives met at Z Capital’s office in Illinois sometime in September to express its interest in purchasing some of Affinity Gaming’s assets. It also added that the interest in pursing that course of action still exists.

Along with the Silver Slipper Casino in Mississippi, Full House Resorts operates an additional four land-based casinos in the states of Colorado, Indiana and Nevada. Affinity Gaming’s footprint in the real money casino industry consists of 11 different land-based casinos located across Nevada, Colorado, Missouri and Iowa.

Silver Slipper Casino Hotel is located in Bay St. Louis and it operates as a full-service resort. From an expansive casino floor filled with slot machines and table games to luxury accommodations and gourmet dining, it has become a very popular tourist attraction in the Bay St. Louis area. This is one of the few casinos in the state to offer Keno and new for this fall is legal sports betting in the Slipper Sportsbook.

Slots LV
Summary
Mississippi Casino Merger Might be in the Works
Article Name
Mississippi Casino Merger Might be in the Works
Description
The Silver Slipper Mississippi Casino Merger Might be in the Works. The casino gambling industry is always in a state of flux across the nation and around the globe.
Author
Publisher Name
Play Slots 4 Real Money
Publisher Logo

Tagged with:

Show Buttons
Hide Buttons