Full House Resorts revenue grows 24% in second quarter

Full House Resorts has posted $73.5m in Q2 revenue.

US.- Full House Resorts has announced results for the first quarter ended June 30. On a consolidated basis, revenue was $73.5m, a 23.8 per cent increase from the prior-year period amid the continued ramp-up of operations at American Place, which opened in February 2023, and the phased opening of Chamonix Casino Hotel beginning in late December. 

The Net loss for the second quarter was $8.6m, or $(0.25) per diluted common share, which includes $0.8m of preopening and development costs, as well as depreciation and amortisation charges. Adjusted EBITDA rose 34.6 per cent to $14.1m.

Daniel R. Lee, president and chief executive officer of Full House Resorts, said: “Our newest destination casino, Chamonix Casino Hotel in Cripple Creek, Colorado, continues to build its customer base. Since its opening, hotel occupancy has steadily increased, with occupied room-nights rising from approximately 2,100 in January 2024 to approximately 5,900 in June 2024.

“Increased visitation corresponds to the unveiling of new amenities at the property, as well as the commencement of the busier summer season. Our steakhouse, 980 Prime, opened in April 2024 and has quickly earned a reputation as one of the finest restaurants in Colorado. In late-May 2024, we opened our rooftop pool and portions of our spa. These amenities joined Chamonix’s 300-guestroom hotel and sunlit casino, which we believe are unparalleled in the region in their quality and beauty.

“During the third quarter, we expect to complete the opening of Chamonix’s spa and unveil its street-front jewelry store. The early guest response to Chamonix continues to be very good, reinforcing our confidence in its long-term earnings potential,” Lee added.

The company recently announced the promotion of Angi Truebner-Webb to the position of vice president and general manager of the Silver Slipper Casino and Hotel, pending customary regulatory approvals.