Full House Resorts Q1 2025 revenue increases 7.3%, reports net loss of $9.8m

Despite revenue increasing year-over-year and the company’s net loss falling by $1.5m from the prior year period, adjusted EBITDA witnessed a decrease of 7.4% year-over-year to $11.5m.

Full House Resorts has released its financial performance throughout the first quarter of 2025, having increased its revenue by 7.3% year-over-year for a total of nearly $75.1m, while the operator’s net loss decreased by approximately $1.5m from the prior year period to $9.8m. 

While positive results were reported in both revenue and net loss for the period, Full House Resorts’ adjusted EBITDA during Q1 2025 came out to $11.5m, representing a decrease of 7.4% year-over-year. 

The decrease primarily stems from an adjusted EBITDA loss of $2.5m from the operator’s West segment, which grew by over $2.3m throughout the quarter. 

The West segment was fortunately the only segment to witness a negative adjusted EBITDA total for Q1 2025, as Midwest & South and Contracted Sports Wagering reported totals of $13.1m and $2.2m, respectively, equating to increases of 3.4% and 12.7% from the prior year period. 

“Our three largest properties – American Place, Silver Slipper and Chamonix – all made meaningful strides during the first quarter,” Full House Resorts President and CEO Daniel Lee said. 

“We have increased our focus on cost efficiencies, while continuing to maintain growth, in order to drive profitability.”

Casino operations for Full House Resorts generated the highest revenue figure for the first quarter of 2025, reporting a total of $55.3m and increasing 7% year-over-year. 

Good to know: Full House Resorts appointed Brandon Lenssen to serve as its Vice President and General Manager of Chamonix Casino Hotel in Cripple Creek, Colorado on March 11, 2025

Food & beverage and hotel operations managed to produce Q1 2025 revenue totals of $10.1m and $3.8m, respectively, representing increases of 3% and 34.7% from the prior year period. Other operations, including contracted sports wagering, generated close to $5.9m for Q1 2025. 

The fall in adjusted EBITDA and $9.8m may be attributed to operating expenses throughout Q1 2025, which increased by 5.4% year-over-year for a total of $74.3m. Casino operations accounted for $22.9m of expenses during the period, while food & beverage and selling, general and administrative combined for an additional $37.3m. 

Kirk Geller

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