Full House Resorts revenue grows 21.5% in Q4
Full House Resorts posted $73m in revenue for the last quarter of 2024.
US.- Full House Resorts announced results for the fourth quarter and full year ended December 31, 2024. Revenue in the fourth quarter of 2024 rose 21.5 per cent to $73m amid the ramp-up of operations at American Place and Chamonix Casino Hotel.
Net loss for the fourth quarter of 2024 was $12.3m. Adjusted EBITDA was $10.4m, an increase of 42 per cent.
For the full year, Full House Resorts reported revenue of $292.1m, a 21.2 per cent increase from $241.1m in the prior year. These results reflect the February 2023 opening of American Place and the phased opening of Chamonix through 2024. Net loss was $40.7m, and adjusted EBITDA was flat at $48.6m.
Daniel R. Lee, president and chief executive officer of Full House Resorts, commented, “During the fourth quarter of 2024, revenue and Adjusted Property EBITDA at our temporary American Place facility rose 27.5 per cent and 71.9 per cent, respectively, versus the fourth quarter of 2023. For the full year, such increases were 42.4 per cent and 59.8 per cent, respectively, when compared to 2023.
“While our temporary casino is performing very well, we believe the permanent casino will perform much better. We expect to break ground later this year and complete construction by August 2027, when our authorisation to operate the temporary casino expires.
Lee added: “Another gaming company in Illinois operated a temporary casino for several years, in the city of Rockford. It is a market quite analogous to, but smaller than, our market in Lake County. That temporary casino recently transitioned into a permanent facility. According to the Illinois Gaming Board, the permanent Rockford casino’s gaming revenues between September 2024 and January 2025 totalled $60m, more than double the amount generated in its temporary facility in the prior-year period.”
