Full House Resorts buys Colorado casino for $30M

Full House Resorts agreed to buy the operating assets of Bronco Billy’s Casino and Hotel in Cripple Creek, Colo., for approximately $30 million from privately owned Pioneer Group.

Bronco Billy’s has approximately 830 slot and video poker machines, 13 table games, a 24-room hotel, a steakhouse, four casual dining outlets and an outdoor amphitheater.

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The price may be reduced to $28.5 million if Bronco Billy’s twelve-month Adjusted EBITDA falls below $4.7 million in certain periods prior to closing. If Bronco Billy’s twelve-month Adjusted EBITDA further falls below $4.5 million in certain periods prior to closing, Full House Resorts may terminate the purchase agreement without penalty.