$180.2m annual net revenue: Full House Resorts releases Q4, FY2021 results
The company expects continued success for 2022 once its casino construction projects are complete.
Full House Resorts has published its fourth quarter and annual results for 2021. The company reported increases in revenue for both Q4 and FY2021.
Net revenue during the fourth quarter jumped by 13.1% from the prior period to $43.3m, and net income reached $5m. Adjusted EBITDA was $7.9m in the fourth quarter.
The company reported several increase for the full year as well. Revenue for the year climbed to $180.2 million, up by 43.5% from the previous year.
Net income in 2021 reached $11.7m, amounting to $0.33 per diluted common share, a significant boost from 2020’s figures. Adjusted EBITDA also increased by 140.2% to $47.2m during 2021.
“We are proud of our continued growth in 2021,” said Daniel R. Lee, President and Chief Executive Officer of Full House Resorts. “Due to several years of investments in our properties and in new technology, as well as the hard work of our team in managing expenses, adjusted EBITDA increased to $47.2m from $19.7m in 2020. All of our segments achieved their highest profits in any of the past five years and some properties, like the Silver Slipper, reached new all-time records for financial performance. It was an extremely strong year throughout the company.”
Lee also spoke about ongoing projects for this year.
“We expect 2022 to be a similarly transformative year for Full House Resorts. While our permanent American Place facility in Waukegan, Illinois, will require approximately three years to construct, we expect to introduce American Place to the area’s residents much sooner – this upcoming summer – via The Temporary,” he said.
“We have spent several months designing a temporary casino facility and expect to begin erecting the casino structure in the next month, when major components of the structure begin to arrive on-site.”
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
