Full House Resorts Revenue Rises, Cash Flow Shrinks

Full House Resorts announced that third-quarter revenue rose 4.9 percent from the same period last year to $81.8 million. The main driver of the increase was The Temporary at American Place, a temporary facility in Waukegan. Improved performance at the Rising Star Casino in Indiana and the Chamonix resort in Colorado also contributed. The company also reported an $8.6 million loss over the same period.

Cash flow edged down slightly from $14.8 million to $14.6 million. Revenue in the Midwest and South rose 6.4 percent to $62.1 million. Cash flow in this region increased 18 percent to $13.6 million.

Revenue in the Western states rose 1.2 percent to $18.2 million, but cash flow fell from $3.2 million to $1 million. Wildfires in Colorado hurt Chamonix's operations during the summer months. Ongoing renovation work at the Grand Hyatt in Lake Tahoe also disrupted operations at the Grand Lodge Casino. This work is expected to last one more year.

CEO Dan Lee said that since American Place opened in February 2023, revenue and profit have increased compared with the same quarter of the previous year in every quarter. The permanent American Place casino is planned to open in about two years. Lee noted that revenue increased in all major departments at Chamonix. Rising Star's revenue was reported to be up 10 percent, while margins at the Silver Slipper in Biloxi improved due to a review of the cost structure and a change in marketing strategy.

At the end of the third quarter, the company held $30.7 million in cash. Total debt was reported at $475 million.