Full House Resor Stock Price, News & Analysis

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.

Full House Resorts (Nasdaq: FLL) has appointed Michael A. Hartmeier to its board of directors. Hartmeier, a seasoned investment banker with over 25 years of experience, previously served as the Group Head of Lodging, Gaming, and Leisure Investment Banking at Barclays. He has managed over $125 billion in financing and advisory assignments throughout his career. His extensive background in capital markets is expected to provide valuable insights for the company. Hartmeier holds an MBA from Harvard Business School and a BA in Economics-Business from UCLA.

Full House Resorts (FLL) reported a remarkable third-quarter 2020, with net income soaring to $7.7 million, up from $0.9 million in Q3 2019. Operating income more than tripled, and Adjusted EBITDA surged 115.6% to $12.5 million. However, revenues declined to $42 million, impacted by COVID-19. Cash and equivalents increased to $34 million. Colorado's new gaming legislation aims to attract higher clientele. The company is also vying for a gaming license in Waukegan, Illinois, with plans for a $25 million equity investment in a proposed casino project.

Full House Resorts (NASDAQ: FLL) will report its third quarter 2020 financial results on November 5, 2020, followed by a conference call at 4:30 p.m. ET. The call can be accessed via the company’s website or by phone. A replay will be available until November 19, 2020. The press release includes forward-looking statements, highlighting inherent uncertainties and risks impacting future performance. Full House Resorts operates various gaming facilities across the U.S., with notable properties in Mississippi, Colorado, Indiana, and Nevada.