Full House revenue rises 21% in Q1 2023
Full House Resorts has reported that its first-quarter revenue increased to $50.1m.
US.- Full House Resorts has reported financial results for the quarter ended March 31. The company has reported revenue of $50.1m, up 21 per cent compared to the same period last year. Adjusted EBITDA rose by 21 per cent to $10.1m in Q1 2023, while net loss overall was $11.4m, of which $10.5m in development costs was associated with the opening of Temporary by American Place in Illinois.
Daniel R. Lee, president and CEO of Full House Resorts, said: “At our Chamonix project in Cripple Creek, Colorado, we have ‘topped out’ the elevator towers and are working on the guest room and meeting areas. We believe Chamonix will be the first high-quality casino hotel in Cripple Creek when it opens in the second quarter of 2023.
“We expect it to meaningfully grow the market’s gaming revenue and generate a strong return on investment for our company, similar to what has occurred in Black Hawk when higher-quality casinos have been added to that market.”
Red Rock plans to continue expansion with its sportsbook expected to commence operations by August 2023 and the full opening of Chamonix Casino Hotel anticipated for 26 December 2023.