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Nambé Pueblo Signs Casino Management Agreement With Full House R

Fullhouse Resorts Ltd announced today that the Nambé Pueblo Tribal Board and the Nambé Pueblo Gaming Enterprise Board, appointed by the Tribal Governor to oversee game operations, have entered into a game management agreement with Fullhouse subject to approval by the National Indian Game Board under federal law.

The management contract provides a management fee of 30% of the net proceeds payable to the full house for seven years after the gaming facility opens. Net proceeds are a measure of profitability defined by the National Indian Gaming Commission. Gross first-year revenue for the project is expected to be $36 million.

Greg Violet, Full House's chief operating officer, said, "Full House's team is looking forward to working with the Tribal and Gaming Enterprise Commission to realize their vision that these leaders must achieve economic prosperity for their people. Full House will help implement every step of the economic development plan so that we can share it in a mutually beneficial relationship."
Full House CEO Andre Hilliou said, "We are excited to report this agreement to our shareholders. We have committed to growing the company and this project will provide additional management fee revenue for the company and contribute to its bottom line."

The Full House has proposed a multi-level Master Plan of Economic Development for the tribe. The full-fledged first phase of the casino includes 500 slot machines, 12 table games, three restaurants, a gift shop, an entertainment lounge, and other amenities in a 50,000-square-foot facility. The first phase also has an indoor amusement park planned to offer family entertainment. Later stages of development include a hotel, convention center, and event center. Other future developments discussed about the tribe's 1,800-acre site on Highway 84/285 15 miles north of Santa Fe include retail stores, movie theaters, restaurants, and houses.

Albuquerque's DCSW Architects of Albuquerque was named project architect. Led by Marc Schiff, DCSW offers more than 28 years of experience in planning, designing, developing, and construction supervision of hotels, restaurants, cultural centers, public buildings and other commercial developments.

Tom Talache Jr., Governor of the Nambé Pueblo Tribe, said, "Full House Resort has shown itself to be a valuable partner in our economic development initiatives. They have been working with us for the past 14 months to respect our history and culture and to create exciting and enjoyable plans for the public. We thank DCSW for their hard work so far, which showed great vision in the initial design work of Full House and DCSW. We are looking forward to great things in this economic development process, and we look forward to long-term benefits. I am especially excited to partner with this Iacocca. Since the first time I read his autobiography when I was serving in the U.S. Navy, he has inspired me in pursuing my professional goals

Brenda McKenna, president of Nambé Pueblo Gaming Enterprise Board, said, "We look forward to our successful partnership with Fullhouse and the beginning of a new business, political, and social era for Nambé Owingi."
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Friday, February 9, 2024

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