Full House Resorts buying southern Indiana’s Grand Victoria Casino in $43 million deal

Ind.’s Grand Victoria Casino to be sold for $43M

RISING SUN, Ind. — Las Vegas-based Full House Resorts is buying the Grand Victoria Casino and Resort in southern Indiana in a $43 million deal.

Full House announced Monday its plans to buy the casino, along with its 201-room hotel and golf course from Chicago-based HGMI Gaming Inc. Full House said it expected to close on the deal for the Ohio River casino in early 2011 after gaining approval from regulators.

Full House CEO Andre Hilliou says the company believes it can improve Grand Victoria’s profitability because of its experience catering to local customers in competitive markets.

Grand Victoria is in the midst of three casinos in southeastern Indiana and saw its admissions drop nearly 12 percent to about 1.4 million for the year ending June 30.

(This version CORRECTS that HGMI Gaming is not a subsidiary of Hyatt Hotels)