Full House Resorts (NASDAQ:FLL) Releases Earnings Results

Full House Resorts (NASDAQ:FLL) released its quarterly earnings data on Thursday. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.07), FiscalAI reports. The business had revenue of $81.78 million during the quarter, compared to analysts’ expectations 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%

Shares of NASDAQ FLL traded down $0.10 during trading hours on Friday, reaching $0.62. The stock 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 fifty-two week low of $0.58 and a fifty-two week high of $3.37.

Analysts Set New Price Targets

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