Full House Resorts, parent company of Silver Slipper Casino in Hancock County, said in its first quarter report Wednesday that the company wants out of an agreement to buy Fitzgerald’s Casino in Tunica.

On May 7, Full House informed Majestic Star Casino LLC that it likely will not be able to get financing for the Tunica casino.

"As a result we have requested Majestic Star to consider termination of the agreement,"

Revenue in Tunica has dropped due to competition from Arkansas, and Full House reported that its EBITDA, or Earnings Before Interest, Taxes, Depreciation and Amortization, fell to $2.3 for the first quarter ending March 31, compared to $5.7 million the prior year.

At Silver Slipper, EBITDA fell to $2.1 million for the quarter, down from $2.8 million in the first quarter of 2013.

"Our first quarter 2014 performance was impacted by unusually extreme weather conditions across the country, increased competition and soft consumer trends," said Andre Hilliou, chairman of Full House.

The company reported that revenue also dropped at its casinos in Indiana and Northern Nevada.

Hilliou said he is excited about future growth of the company.

Full House is building a $17.7 million, 142-room hotel at Silver Slipper and in February, the company entered into an agreement to own and operate instant racing and traditional casino games, if authorized, at race tracks in Kentucky.

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