Full House Resorts revenue grows 39.6% in first quarter

Full House Resorts has posted $69.9m in Q1 revenue.

US.- Full House Resorts has announced results for the first quarter ended March 31. On a consolidated basis, revenue was $69.9m, a 39.6 per cent increase from $50.1m in the prior-year period. The results reflect the launch of operations at American Place in mid-February 2023 and the phased opening of Chamonix Casino Hotel from late December.

Net loss for the first quarter of 2024 was $11.3m, which includes $1.7m of preopening costs, as well as depreciation and amortisation charges related to American Place and Chamonix of $5.5 m and $3.7m, respectively. Adjusted EBITDA rose 22.6 per cent to $12.4m.

Daniel R. Lee, president and chief executive officer of Full House Resorts, said: “We had a strong quarter of growth, led by American Place. Typical of most new casino openings, American Place has continued to improve its operations since its opening just over a year ago. During the first quarter, quarterly revenues at American Place rose to their highest yet – $25.8m. Similarly, Adjusted Property EBITDA rose to $7.4m.”

See also: Full House revenue rises 47% in 2023

He added: “March was the first month with full year-over-year comparisons, and gaming revenues in that month rose 34 per cent compared to March 2023. The strong first quarter results were assisted by the opening of our high-end restaurant, North Shore Steaks & Seafood, which opened on February 14, 2024. We look forward to continued growth at American Place as its database continues to grow and operations continue to season.”