Indiana's Grand Victoria Casino sold for $43 million

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

Full House announced Monday its plans to purchase of the casino, along with its 201-room hotel and golf course in Rising Sun, Ind. The seller is Chicago-based HGMI Gaming Inc.

Full House says it expects to close on the deal for the Ohio River casino in early 2011 if regulators approve.

Full House chief executive Andre Hilliou says it believes it can improve Grand Victoria's profitability because of its experience catering to local customers in competitive markets.

Grand Victoria has nearby competitors, and its admissions dropped 12 percent to 1.4 million in the year ending June 30.