Full House Resor - FLL STOCK NEWS

Full House Resorts (NASDAQ: FLL) will announce its Q1 2021 financial results on May 10, 2021, followed by a conference call at 4:30 p.m. ET. Investors can listen to the live audio webcast on the company’s website or dial in via phone. A replay will be available after the call through May 24, 2021. The press release includes caution regarding forward-looking statements and their inherent uncertainties. Full House Resorts operates gaming facilities across the U.S. and is constructing a new casino hotel in Cripple Creek, Colorado.

Full House Resorts, Inc. (Nasdaq: FLL) has secured a five-year, $15 million senior secured revolving credit facility for working capital and other purposes. The interest rate will be LIBOR plus 3.50% or a base rate plus 2.50% until the completion of their Chamonix project in Cripple Creek, Colorado, after which it decreases to LIBOR plus 3.00% or base rate plus 2.00%. As of March 31, 2021, there are no drawn amounts under this facility. The CFO emphasized enhanced liquidity and a stronger balance sheet for future opportunities.

Full House Resorts (Nasdaq: FLL) announced a public offering of 6,015,000 shares at $6.65 each, with a potential additional 902,250 shares available to underwriters. The offering aims to raise approximately $40 million, which will be used for development and general corporate purposes, including strengthening its application for a casino in Waukegan, Illinois. Closing is expected by March 29, 2021. The offering is managed by Craig-Hallum Capital Group, with co-managers including Macquarie Capital and Roth Capital Partners.

Full House Resorts (Nasdaq: FLL) announced a planned underwritten public offering of its common stock, subject to market conditions. The company may grant underwriters a 30-day option to purchase an additional 15% of shares. Proceeds will be used for development, working capital, and corporate purposes, potentially strengthening its application for a casino license in Waukegan, Illinois, and funding construction at its Silver Slipper Casino. The registration statement for this offering was previously filed with the SEC.

Full House Resorts has announced the acquisition of the Chamonix Casino Hotel project in Cripple Creek, Colorado, expected to enhance the local hospitality market with approximately 300 luxury guest rooms by Q4 2022. This $180 million investment is set to complement the adjacent Bronco Billy’s Casino.

The company is also acquiring the nearby Carr Manor for $3.4 million to mitigate construction impacts. Further, Full House has plans for a potential $75 million expansion of the Silver Slipper Casino in Mississippi. These developments are aligned with recent regulatory changes in Colorado's gaming laws.

Full House Resorts (FLL) reported significant financial improvements in Q4 2020, with operating income rising to $7.7 million from a loss of $0.4 million and net income increasing to $3.5 million from a loss of $4.1 million. Adjusted EBITDA more than quadrupled year-over-year. The company issued new 8.25% senior secured notes worth $310 million, refinancing existing debt and funding the Cripple Creek casino project, expected to open in Q4 2022. Total revenues for 2020 decreased to $125.6 million due to pandemic effects but showed operational improvements in the latter half of the year.

Full House Resorts (NASDAQ: FLL) will report its Q4 2020 and full-year financial results on March 8, 2021, with a conference call at 4:30 p.m. ET. The live audio webcast will be available on the company's website under the investor relations section. A replay will be accessible until March 22, 2021. This press release includes forward-looking statements that are subject to risks and uncertainties.

Full House Resorts (Nasdaq: FLL) has announced the pricing of $310 million in 8.25% senior secured notes due 2028. The notes, offered at 100% of principal, aim to redeem existing senior secured notes, fund the expansion of Bronco Billy’s Casino in Colorado, cover transaction fees, redeem warrants, and support general corporate purposes. The offering is set to close on February 12, 2021. The notes will not be publicly registered and are targeted at qualified institutional buyers. Forward-looking statements include risks related to debt repayment and the impact of COVID-19 on operations.

On January 25, 2021, Full House Resorts (Nasdaq: FLL) released preliminary financial results for Q4 2020. Consolidated net revenues are projected between $37.8M to $38.5M, down from $39.0M in Q4 2019. Operating income is expected to range from $7.1M to $8.0M, a significant recovery from a loss of $0.4M in the same quarter last year. The company anticipates a net income between $1.2M and $4.0M, a positive shift from a $4.1M loss in Q4 2019. Additionally, the planned expansion of Bronco Billy’s Casino has been increased by 67% to about 300 rooms, with a $180M investment expected to be financed by debt.