Full House Resorts revenue totals $75.7m for Q3 2024
The company experienced a net loss of nearly $8.5m for Q3 2024, though, decreasing from the $4.6m net income reported during the third quarter of 2023.
Key Points
- The $75.7m in reported revenue represents a 5.8% increase from the prior year period
- Full House Resorts also celebrated the grand opening of its Chamonix Casino Hotel property in early November
Full House Resorts has reported the company’s third quarter financial results for 2024, announcing an increase in revenue but a net loss as well during the period.
Revenue for the company managed to increase 5.8% year-over-year for a total of $75.7m during the third quarter of 2024, with an $8.5m net loss reported for Q3 2024 after a net income of $4.6m was reported in the prior year period.
The company stated that the net loss accounted for pre opening and development costs, a $2m gain on the sale of Stockman’s Casino and depreciation and amortization charges related to its new American Palace and Chamonix facilities.
Full House Resorts’ adjusted EBITDA decreased by over 43% from the prior year period for a total of just over $11.7m for the third quarter of 2024.
“This week, as political ad spending wanes, we will commence our first post-opening awareness campaign for Chamonix. We believe Chamonix is an unparallelled casino for the region. We remain confident in its earnings potential over the coming quarters and in the longer-term,” Full House Resorts President and CEO Daniel Lee said.
“We also remain excited for our future permanent American Place facility. Construction of such casino is on hold, pending litigation that we believe will be resolved in the next few quarters.”
Good to know: Full House Resorts signed an agreement with Clarity Game to sell Stockman’s Casino for $9.2m on September 3
The Midwest & South segments of Full House reported an increase of 3.7% in revenue for Q3 2024, totaling $54.5m. The West segment also managed to see an increase in revenue, rising by 74.9% year-over-year to be $19.4m during the third quarter of 2024.
Casinos generated the most revenue for the company during Q3 2024, accounting for over $56.1m. Food and beverage managed to see $11.1m in revenue, while hotel and other operations including contracted sports wagering reported revenues of $4.7m and $3.8m, respectively.
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