Full House Resorts (NASDAQ:FLL) Issues Quarterly Earnings Results

Full House Resorts (NASDAQ:FLL) posted its quarterly earnings results on Thursday. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.07), FiscalAI reports. The firm had revenue of $81.78 million for the quarter, compared to the consensus estimate of $81.90 million. Full House Resorts had a negative return on equity of 473.31% and a negative net margin of 12.23%.

Here are the key takeaways from Full House Resorts’ conference call:

• Third-quarter revenue rose 4.9% to $81.8 million, while Adjusted EBITDA was $14.6 million versus $14.8 million a year earlier; last year’s results included a favorable gaming-tax accrual adjustment in Colorado.
• American Place had its strongest quarter yet, and Rising Star and Silver Slipper also improved. Management said American Place continues to grow despite new competition and believes its planned permanent casino could eventually generate more than $100 million in annual EBITDA, before rent.
• At Chamonix, Full House has begun about $8 million in cost improvements and is targeting more than $10 million in total near-term bottom-line improvements. Management expects the changes, alongside revenue and group-business growth, to support $10 million–$20 million of EBITDA in 2027, though wildfire disruptions weighed on the quarter.
• Construction of American Place’s permanent casino remains contingent on completing a refinancing, particularly replacing existing bonds amid weak credit markets. The company has spent a few million dollars refining plans but is holding off on the next major site-work phase until financing is in place.

Full House Resorts Stock Down 14.1%

Full House Resorts stock traded down $0.10 during trading hours on Friday, hitting $0.62. The company had a trading volume of 977,367 shares, compared to its average volume of 380,351. The firm has a 50-day moving average of $1.41 and a 200 day moving average of $2.21. Full House Resorts has a one year low of $0.58 and a one year high of $3.37.

Analyst Ratings Changes

FLL has been the subject of several research analyst reports. Citigroup reiterated a “market outperform” rating on shares of Full House Resorts in a research note on Friday, August 7th. Weiss Ratings upgraded Full House Resorts from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 2nd. Citizens Jmp cut their price target on Full House Resorts from $3.00 to $2.00 and set a “market outperform” rating for the company in a report on Friday. Texas Capital downgraded Full House Resorts from a “strong-buy” rating to a “hold” rating in a report on Monday, November 2nd. Finally, Wall Street Zen cut shares of Full House Resorts from a “hold” rating to a “sell” rating in a research report on Saturday. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $3.00.

Full House Resorts Company Profile

Full House Resorts, Inc (NASDAQ:FLL) is a regional gaming and hospitality company that owns, operates, and manages casinos and related entertainment properties in the United States. Its properties typically offer casino gaming, hotel accommodations, restaurants, bars, live entertainment, and other amenities designed to serve local and destination visitors.

The company’s portfolio includes Chamonix Casino Hotel and Bronco Billy’s Casino in Cripple Creek, Colorado; Silver Slipper Casino Hotel in Bay St.