“As we continue to grow in size, we find it prudent to focus on the larger properties in our portfolio,” wrote Full House Resorts CEO Dan Lee, announcing the sale Tuesday morning of Stockman’s Casino in Fallon, Nevada.

The buyer is Clarity Game LLC, operated by Michael Gaughan III and David Ross, marking another acquisition for the duo of a small western casino after last year’s two in Cripple Creek, Colorado.

For $9.2 million, Clarity obtains the Stockman’s building, the underlying land, and “certain other operating assets.” The real estate went for $7 million and the miscellaneous assets represented the balance of the transaction.

Clarity is expected to take the keys to the property later this month and obtain operational control when Nevada gaming regulators weigh the purchase. Until such time as the Nevada Gaming Commission closes the sale, Full House will pay Clarity $50,000 a month in rent.

In selling Stockman’s, Lee stressed the need to prioritize Full House’s newer and larger casinos. Specifically, he cited Chamonix in Cripple Creek, Colorado, and the in-progress American Place in Waukegan, Illinois.

The move by Full House comes at a time when Lee has been under pressure from Wall Street to show profitability. He has so far resisted entreaties to monetize the company by selling Full House’s casinos to a real estate investment trust.

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