Full House Resorts ( (FLL) ) has released its Q4 earnings. Here is a breakdown of the information Full House Resorts presented to its investors.
Full House Resorts, Inc. is a gaming company that develops, owns, leases, and operates gaming facilities across the United States, including properties like American Place in Illinois and Chamonix Casino Hotel in Colorado.
In its latest earnings report, Full House Resorts announced a significant increase in both quarterly and annual revenues, with a rise of over 21% compared to the previous year. This growth is attributed to the ramp-up of operations at its American Place and Chamonix Casino Hotel properties.
Key financial highlights include a 21.5% increase in fourth-quarter revenues to $73.0 million and a 42% rise in Adjusted EBITDA to $10.4 million, driven by strong performance at American Place. The full-year revenues reached $292.1 million, marking a 21.2% increase from the prior year. Despite these gains, the company reported a net loss of $40.7 million for 2024, influenced by preopening costs and increased depreciation expenses.
The phased opening of Chamonix Casino Hotel in Colorado significantly boosted the company’s revenues in the West segment, with a 161% increase in the fourth quarter. The Midwest & South segment also saw growth, particularly from American Place, which contributed significantly to the segment’s revenues and Adjusted Segment EBITDA.
Looking forward, Full House Resorts remains optimistic about its growth trajectory, with plans to break ground on a permanent casino facility in Illinois and continued marketing efforts to expand its presence in Colorado. The company is also focusing on improving profitability and sustainable growth at its new properties.