Full House received approval from the Illinois Gaming Board to proceed with the opening of its temporary, and consequently, permanent casino in Waukegan. Getting approval has given Full House Resorts the go-ahead to open its temporary location within the next 6 months. As the temporary location is being set up, Full House will also work on setting up its temporary location.
The temporary location is expected to be much larger and it is anticipated to have a positive effect on attracting more tourists to the area. The temporary casino will be 65,000 square feet and will include slot machines, gaming tables, a sportsbook, as well as a food and beverage service.
The temporary location will be based in Walmart by Belvidere Road and will be the size of 3 football fields. This temporary location will be situated in the same spot at the border of the Fountain Square Shopping Centre, which is where the permanent casino will be constructed. While the temporary casino will technically be a large tent, it will be strong enough to handle any weather condition during its short tenure.
At the start of the year in February, Full House announced that it would be selling $100 million in senior secures notes to fund the temporary casino. The notes are expected to mature in 2028 and were sold in a private debt offering. This sale was later followed up by an equity sale to generate even more funds for the new facility.
In March, Full House agreed to buy approximately 10 acres of land adjoining the almost 30-acre casino site that will be rented from the city. This space will supply the casino with additional parking space, as well as enhanced access from and to major roads.
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Temporary casino announces plans to start hiring
Betting in the temporary Waukegan is still several months away, at least 6 months at the minimum. However, Full House Resorts has already announced that it plans to start hiring staff for its permanent facility much sooner. Since the temporary casino will only have 50 table games and about 1000 slot machines, which will not require as many staff members to start with.
Full House has already started looking for staff members to fill in various casino floor positions including dealers and slot machine technicians. The brand expects to organize several career fairs that will see several applicants interviewed for the temporary casino, which expects to hire close to 700 staff members.
The brand is also looking for sales and marketing personnel that will help the temporary casino get off the ground. Though the temporary casino will be completed in 6 months, the permanent facility will not be complete until about 2 years. The temporary casino is anticipated to cost Full House about $400 million.
Once the permanent facility has been completed, it is expected to create at least 1800 new jobs for locals. Full House will be looking to hire as many people from underserved communities as possible. According to the Mayor of Waukegan Ann Taylor, this new casino will not only provide punters with a new entertainment scene but also accommodate international travelers thus bringing additional revenue to the region.
Once finished, the permanent casino will boast an entertainment venue with a 1,500 capacity alongside a boutique hotel that will have 20 luxury villas ranging between 1500 and 2500 square feet. There will also be a rooftop helipad and a Mansion at America Place complete with room service, a spa, and butlers.
This new casino is anticipated to draw in tourists in the thousands as it will be the most closely situated gambling facility available to the 1.2 million locals in Lake County and Wisconsin. At present, the only other casinos situated within an hour’s drive are Rivers Casino in Des Plaines, Potawatomi Casino, as well as the Grand Victoria Casino in Elgin. Full House was picked as the developer because it pledged to help the Waukegan community, local schools, as well as many other community organizations.
Full House working on another project in Colorado
Full House is also working on a new project for its Chamonix Casino Hotel, which is currently under construction. This project is expected to cost Full House, which is also the parent company of Bronco Billy’s Casino in Cripple Creek, approximately $250 million. Full House is working to construct a 370-room high-end hotel and casino, which is also expected to open its doors in the second quarter of 2023.
This new facility will be linked to Bronco Billy’s and will almost double the gaming floor. The casino resort will also include shops, restaurants, a rooftop pool, a convention space, as well as a parking garage. Full House is confident that its Chamonix facility will perform better than expected especially after the success of its casino in Black Hawk.
When it finally welcomes guests and punters, Chamonix will be the first high-end casino hotel to be developed in Cripple Creek. This new facility is expected to grow the local market’s gaming revenue while generating a good return on investment for Full House.
The Full House brand is already well established in the country as the brand operates several gaming facilities in several states. The company runs several casino properties including Indiana’s Rising Star Casino, Mississippi’s Silver Slipper Casino in Hancock County, Nevada’s Stockman’s Casino, Colorado’s Bronco Billy’s Casino in Cripple Creek; as well as the Grand Lodge Casino, which is positioned inside the Hyatt Regency Lake Tahoe Resort.
Final Thoughts
Full House’s temporary casino is expected to be completed before October or December while the permanent entertainment complex will be up and running by 2024. The temporary facility will be designed to be a world-class destination for punters in Chicago, as well as the surrounding region. The temporary location will allow Full House to live up to its promise of creating jobs fast and generating tax revenues for the region before the permanent facility has been established.
