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Full House Resorts, Inc. (NASDAQ: FLL) is a leading developer and operator of gaming facilities across the United States. The company manages numerous properties, including the Rising Star Casino Resort in Rising Sun, Indiana, which boasts 35,000 square feet of gaming space, 294 hotel rooms, multiple dining options, an 18-hole golf course, and a theater for various events. In Hancock County, Mississippi, the Silver Slipper Casino features 37,000 square feet of gaming space, diverse dining venues, and the Gulf Coast’s only live keno game.
The company also runs the Stockman's Casino in Fallon, Nevada, offering 8,400 square feet of gaming space, and the Grand Lodge Casino at the Hyatt Regency Lake Tahoe Resort. Additionally, Full House Resorts operates Bronco Billy's Casino and Hotel and is constructing the luxury Chamonix Casino Hotel in Cripple Creek, Colorado, scheduled to open in December 2023. This new establishment will feature a state-of-the-art casino, fine dining, a rooftop pool, a high-end spa, extensive meeting space, and luxurious accommodations.
Other significant projects include The Temporary by American Place in Waukegan, Illinois, which is experiencing a robust operational ramp-up. The permanent American Place facility, expected to open in 2027, will further enhance Full House's portfolio upon completion.
Financially, Full House Resorts demonstrates strong growth metrics. The company's consolidated revenues in Q3 2023 increased by 72.8% year-over-year to $71.5 million. Similarly, net income for Q3 2023 was $4.6 million, reflecting significant progress in various ongoing projects. The company’s diversified revenue streams include gaming, hotel accommodations, dining, entertainment, and sports wagering, with a major portion of income generated from the Midwest & South segment.
Full House Resorts is noted for its forward-looking strategies, aiming for continued expansion and financial stability. The company is committed to enhancing guest experiences through innovative amenities, luxurious accommodations, and superior customer service. For more information on Full House Resorts and its properties, visit www.fullhouseresorts.com.
Full House Resorts (NASDAQ: FLL) has announced the sale of Stockman's Casino in Fallon, Nevada, to privately-owned Clarity Game for $9.2 million. The transaction will occur in two parts: $7 million for the real property, expected to close in late-September 2024, and $2.2 million for remaining operating assets, pending gaming approvals. Full House will continue operating Stockman's, paying $50,000 monthly rent to Clarity until the second closing. This strategic move allows Full House to focus on larger properties, including the newly-opened Chamonix and American Place casinos. CEO Daniel R. Lee expressed confidence in the new owners' ability to drive continued improvement at Stockman's Casino.
A fortunate guest from San Francisco hit a $1,137,093.42 jackpot at Grand Lodge Casino in Incline Village, Nevada, near Lake Tahoe on Thursday evening. The winner was playing the Five Times Pay version of Wheel of Fortune Gold Spin Deluxe with a $10 bet. This latest win brings the casino's total payout for Wheel of Fortune Wide Area Progressives to nearly $9 million.
Grand Lodge Casino, a long-standing establishment in Incline Village, recently secured a 10-year lease extension with Hyatt Regency Lake Tahoe, extending their partnership through December 31, 2034. The casino's marketing director, Jill Stewart, emphasized their commitment to customer service and the casino's attractive atmosphere, highlighting that guests can win substantial jackpots comparable to those at larger resorts.
Full House Resorts (Nasdaq: FLL) reported a 23.8% increase in Q2 2024 revenues to $73.5 million, driven by the ramp-up of American Place and phased opening of Chamonix Casino Hotel. However, the company posted a net loss of $8.6 million, or $(0.25) per diluted share, including $0.8 million in preopening and development costs. Adjusted EBITDA rose 34.6% to $14.1 million. The company's Midwest & South segment saw an 11.1% revenue increase, with American Place contributing significantly. The West segment posted an 87.3% rise in revenue but incurred high initial opening costs for Chamonix. The Grand Lodge Casino lease was extended by ten years to December 31, 2034. Liquidity stood at $44.7 million in cash, with $450 million in outstanding senior secured notes due 2028 and $27 million under a revolving credit facility.
Full House Resorts (NASDAQ: FLL) will release its second quarter 2024 financial results on August 6, 2024. The announcement will be followed by a conference call at 4:30 p.m. ET (1:30 p.m. PT), available via live audio webcast on the company’s website. Investors can also dial (201) 689-8470 to access the call. A replay will be available on the website and by phone at (412) 317-6671 using passcode 13746753, through August 20, 2024.
Full House Resorts, Inc. announced a 39.6% revenue increase to $69.9 million in Q1 of 2024. American Place Casino and Chamonix Casino Hotel showed strong performance gains, boosting overall revenue. The net loss was $11.3 million, with Adjusted EBITDA rising 22.6%. While there were high preopening costs, the outlook remains positive for future growth.
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