Please standby, we are about to begin. Good day. And welcome to the Full House Resorts Incorporated Fourth Quarter 2013 Earnings Conference Call. Today’s conference is being recorded. At this time, I’d like to turn the call over to Dan Foley. You may begin.

Thank you, Tim, and good morning. By now everyone should have access to our earnings announcement and Form 10-K, which was filed with the SEC. These may also be found on our website at www.fullhouseresorts.com under the Investor Relations section. Before we begin our formal remarks, I would like to remind everyone that part of our discussion today may include forward-looking statements. These statements are not guarantees of future performance, and therefore, undue reliance should not be placed upon them. We refer all of you to our recent filings with the SEC for a more detailed discussion of the risks that could impact the future operating results and financial condition of Full House Resorts. I would now like to introduce Andre Hilliou, Chairman, Chief Executive Officer of Full House.

Thank you, Dan. With me today on the call are Mark Miller, our Chief Operating Officer; and Deborah Pierce, our Chief Financial Officer, who will assist me in reviewing our fourth quarter and full year results. The fourth quarter was a challenging quarter, as many of you on this call are aware regional gaming trends have been soft for some times. But couple with one of the worst winters, in the last several decades was affected just about every corner of the country. We too set this trend as patrons, local and snowbirds, were forced to stay home for safety reasons due to the inclement weather and the trend continued and worsened in January and February. We are of course not the only company to have been affected by this tough weather and while we don’t traditionally look to blame the weather while worst, we know that it has discernible impact in the fourth quarter. As weather began normalizing in late February, we have seen revenues improved to a level more consistent with our internal expectations. Despite a challenging operating environment across all of our markets for all of 2013 and especially in the fourth quarter we do have several positive highlights to speak about. First, the already mentioned, new 104 room hotel tower at Rising Star has been named the North Star tower opened on November 15, 2013 and increase our capacity by around 50%. While we opened the hotel during the slowest time of the year, weekend occupancy has been in excess of 90% most weekend since opening and we expect the hotel to ramp up as we move the seasonally stronger time of the year and as the marketing efforts matures. Indiana continues to work with the casino industry to help offset the competitive situation created in…

Thank you, Andre. Deborah and I will review our fourth quarter 2013 financial performance and condition before we respond to questions you may have. I will be discussing operations and financial results at our properties and Deborah will follow up with our consolidated financial results and financial position. The Silver Slipper Casino generated $1.7 million in EBITDA in the quarter compared to $1.9 million last year. While the extreme weather event of late 2013 did not have a direct material impact on Silver Slipper, the weather spread to the south during January and February 2014 and indeed the Gulf Coast is on track to record one of the coldest, iciest and snowiest -- yet snowiest winters on record with snow falling offshore over the Gulf of Mexico near our property in early January. To say it has been a tough winter would be an understatement. Snowbirds are not visiting in a usual numbers due to the extremely tough winter condition. The government shutdown and the budget sequestrations of 2013 did however have a significant impact on our fourth quarter results and are still ripping through the Gulf Coast markets. More so than at our other property locations, the Silver Slipper has a high number of customers who are directly or indirectly employed by the government and many of them did not get made whole compensation checks, following the government shutdown and we definitely saw them tightening their gaming budgets. Weather on the Gulf Coast has begun to return to normal in the last few weeks and with it, revenues have also normalized. We are hopeful the trend will continue. The Rising Star Casino Resort generated $0.2 million loss in EBITDA in the quarter compared to $1.3 million EBITDA last year. Our properties continue to feel the effects of increased competition…

Thank you, Mark. For the fourth quarter 2013, the company recorded an operating loss of $1 million compared to an operating loss of $1.1 million in the prior year quarter. If we exclude last year’s unusual expenses, such as Silver Slipper Casino acquisition cost of $1.4 million and severance expense of $0.3 million, last year’s operating income would have been $600,000. This decline of $1.6 million from last year’s fourth quarter is largely the result of the $1.4 million decline in operating profits at Rising Start Casino Resort for the reasons previously described by Mark. For the three months ended December 31, 2013, total revenue was $31.5 million, a 16% decrease from the prior year period, primarily due to the aforementioned economic, promotional, competitive, and weather-related issues. Operating expenses of $32.4 million in the fourth quarter of 2013 were down 16% or $6.2 million from the prior year period, due to the decline in the business volume but also largely due to strong cost containment initiatives put into place to deal with the challenging operating environment. For the quarter, we incurred $1.7 million in interest expense compared to $1.9 million in the prior year quarter. The decrease was primarily related to the reduction in our overall debt to $57.5 million at December 31, 2013, from $68.8 million at the end of December 2012. Interest expense in the fourth quarter consisted of cash interest expense of approximately $1.2 million and amortization of debt cost of approximately $0.5 million. For the fourth quarter in 2013 and for the year ended December 31, 2013, we generated tax benefit of $270,000 and $361,000 respectively. Our book income tax expense varies substantially from the 35% federal statutory rate because of state income taxes and also large permanent differences between book and tax. Our actual tax…

Thank you, Deborah. While the operating environment remains challenging, we continue to be focused on providing the best service to our customer. In this difficult operating environment, we have been very successful in containing overall costs with satisfying guest experience. We do expect the environment to improve, especially in light of the tough weather. We are very excited about the opening of the new North Star Tower at our Rising Star property and Silver Slipper hotel project. Both of which should provide enormous leverage to its casino. In addition, we continue to look for growth opportunity and believe that our Kentucky Agreements position us well to generate substantial high return projects in the near future. Thank you. And now we will open up the call for questions.

(Operator Instructions) And we will take our first question from Justin Sebastiano with Brean Capital.

Thanks. Good afternoon, guys.

Hello, Justin.

I know there is bad weather every year but how much of the decline in EBITDA at Rising Star can be distributed to maybe severe winter weather that was considered abnormal for 4Q?

Justin, we have done an analysis on the -- it was really December -- the bad weather in the early part of December. Roughly, we estimate and I think, it’s a very conservative estimate to put together by the project team. But we estimate that it was somewhere in the neighborhood of $3,000 to $4,000 of EBITDA was directly related to bad weather in the early part of December.

Okay. And if what’s your non-conservative estimate?

Well, the non-conservative estimate is obviously higher than that, Justin…

Okay. Thanks

… but I don’t think we have a number for you.

Okay.

I think the real problem in the fourth quarter and I tried to highlight this in my comments is that there just was no market growth very, very limited market growth throughout the fourth quarter in our market in Rising Star. So even the growth rate in October and November was very low, whether that was the government shutdown and sequestration, whether it was bad weather, whatever those things might be, I think it’s pretty easy to isolate in December to the weather, but the market just grew extremely slowly, if at all, during the fourth quarter of 2013 and despite the fact that we had two new competitors in the market.

Okay. How is Miami Valley Gaming racino hurt Rising Star there, Can you quantify or if not, can you say how does that compare to your internal expectation? I know it’s only about couple of weeks but maybe how it’s impacting January and February as well?

I would tell you Justin, I think, it’s because the weather has been so bad especially in January and February, it’s been almost impossible to isolate what the impact at Miami Valley has been. I’m sure they’ve had an impact but we just -- we really haven’t been able to tell because the business has been so negatively impacted by bad weather.

Okay. Okay. Have the snowbirds come back to Silver Slipper here in March?

I think, Justin that they’ve just started arriving in the last week or so. Anecdotally I talked to one when I was down there recently. And he basically just told me that he delayed this trip by couple of weeks because of bad weather and because of concerns over the condition of the roads. That’s obviously just one person anecdotally but I think that’s what we’ve seen.

Okay. Okay. And Andre, onto Kentucky, when do you expect the circuit court in Kentucky to determine if instant racing constitute pari-mutuel form of wagering?

Justin, I don’t think at this stage, we really cannot provide more information that we have in our press release. But as situation progresses, we really would provide more information, Justin.

I mean, is there -- do you know if they are on a timeline now? Is there like a set, sort of like how the legislation has an open window for a session. Is there a session of the circuit court has to have (indiscernible)

I don’t think anyone has been able to tell what to do at the circuit court judging these companies in the beginning of the republic. So I wouldn’t -- we wouldn’t speculate on that.

Okay. Do you guys plan on putting instant racing machines like Keeneland and Red Mile?

Justin, I mean, as we’ve said Justin, we have to be very careful what we’re saying. We’ve put information there on the press release and as the situation progresses, we’ll provide more information but for the time being, Justin, we’re just going to stick to what we put in the press release.

Okay. Okay.

Don’t think I’m not blaming you for asking.

Then I’ll stop bugging you on Kentucky.

That’s okay. You can bug us Justin, that’s fine.

(Operator Instructions) We’ll take our next question from Justin Ruiss with Sidoti.

Hey good morning, good afternoon actually. Andre, Deborah, Mark, I had sort of quick question, just on the prospects out there. I guess, one of the concerns now is seeing a lot of competition rise up. And you don’t have to be specific with this answer but are there markets or areas around the country that you’re mapping out at this point that maybe the competition isn’t as robust as some of the other areas. Has anything really caught your attention?

We really tend to provide that kind of info but I’m going the give you the answer that we’ve been giving to everyone for the last two years. All market and not the same and they have properties in those markets that we’re looking at. At the end of the day, the properties that we are looking at purchasers are purchasing, have to stand on their own and there are some out there. So we got to be careful what we say but at the end of day we are always looking at the market and there are things that we like today, there are things that we like yesterday.

Got you. Then I won’t bug you on that one either.

Go ahead. All right. Thank you, Justin.

And at this time, there are no other questions in queue. I'll turn it back to our presenters for any closing remarks.

Well, we like to thank everyone for being with us today. With that, that we will end the call and we wish all of you a great rest of the week and a beautiful weather. Thank you.

And that does conclude today's conference call. We appreciate your participation.