Full House Resorts’ preliminary Q4 results show YOY improvement
Company plans to expand hotel and casino facility in Colorado to offer more table games.
Full House Resorts, Inc., on Monday unveiled preliminary results for Q4 ending 31 December.
The Las Vegas-based company develops, owns, operates and manages casinos and related hospitality and entertainment facilities in regional US markets.
The company said its preliminary results, which are subject to the completion of the final financial statements, including the annual audit by accounting firm Deloitte & Touche LLP, show net revenue in Q4 in the range of $37.8m to $38.5m, compared to $39m for the Q4 2019.
Consolidated operating income for Q4 is expected to be in the range of $7.1m to $8.0m, compared to an operating loss of $0.4m for the same quarter one year earlier, the company continued.
Full House said its Q4 2020 net income is expected to be in the range of $1.2m to $4.0m, an improvement from a net loss of $4.1m in Q4 2019. Adjusted EBITDA is expected to be in the range of $9.3m to $10.0m, up from $2.3m for Q4 of 2019.
As of 31 December, 2020, the company said it had approximately $38m of cash and equivalents.
In addition, the company said its board of directors has approved an increase to the size of its planned expansion of Bronco Billy’s Casino and Hotel in Cripple Creek, Colorado.
In November last year, Colorado voters approved favorable changes to the state’s gaming laws, including the elimination of betting limits and allowing Colorado casinos to offer new table games, such as baccarat and pai gow poker.
“To reflect the new opportunity created by those changes, the company has increased the size of its planned Cripple Creek expansion by 67% to approximately 300 luxury guest rooms and suites, from its previously planned 180 guest rooms,” Full House said in a statement, noting its plans received preliminary approval from the Cripple Creek Historic Preservation Commission and Cripple Creek City Council.
The expected investment to complete the Cripple Creek expansion is $180 million, which the company believes can be financed with debt.
Final approval from the Cripple Creek City Council could come as early as 3 February, Full House said.
Tags/Keywords
Players trust our reporting due to our commitment to unbiased and professional evaluations of the iGaming sector. We track hundreds of platforms and industry updates daily to ensure our news feed and leaderboards reflect the most recent market shifts. With nearly two decades of experience within iGaming, our team provides a wealth of expert knowledge. This long-standing expertise enables us to deliver thorough, reliable news and guidance to our readers.
Latest News
