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Item
1.01 Entry into a Material Definitive Agreement
On August 29, 2016, Full House Resorts, Inc. (“Full House”) amended its lease through which it operates the Grand Lodge Casino at the Hyatt Regency Lake Tahoe Resort, Spa & Casino in Incline Village, Nevada.
Through Full House’s wholly-owned subsidiary, Gaming Entertainment (Nevada) LLC, a Nevada limited liability company (the “Company”), it entered into the Third Amendment to Casino Operations Lease (the “Amendment”) with Hyatt Equities, L.L.C. (“Hyatt”), amending the terms of that certain Casino Operations Lease dated June 28, 2011 (as amended April
8, 2013, and further amended November 25, 2015, the “Lease”).
Pursuant to the terms of the Lease, Hyatt and the Company previously agreed to renovate the casino, with Hyatt investing up to $3.5 million at its sole cost and expense and the Company purchasing up to $1.5 million of new gaming devices and equipment. The Amendment extends the date by which each party must complete its respective obligations to June 30, 2017, subject to force majeure events or delays caused by the other party. In addition, the Amendment corrects a typographical error relating to the description of the annual rent amount.
Except
as set forth in the Amendment, all other terms of the Lease remain unchanged.
The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, which is filed as Exhibit 10.1 to this Report and which is hereby incorporated by reference.
Third Amendment to Casino Operations Lease, effective August 29, 2016, between Hyatt Equities, L.L.C. and Gaming Entertainment (Nevada) LLC
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
Third Amendment to Casino Operations Lease effective as of August 29, 2016, by and between Gaming Entertainment (Nevada) LLC, a Nevada limited liability company, and Hyatt Equities, L.L.C., a Delaware limited liability company
Dates Referenced Herein and Documents Incorporated by Reference