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

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

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 mid-day trading on Friday, hitting $0.62. The stock had a trading volume of 977,367 shares, compared to its average volume of 380,351. Full House Resorts has a 1 year low of $0.58 and a 1 year high of $3.37. The business has a 50 day moving average price of $1.41 and a two-hundred day moving average price of $2.21.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FLL. 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. Wall Street Zen cut Full House Resorts from a “hold” rating to a “sell” rating in a research note on Saturday. Texas Capital cut Full House Resorts from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 2nd. Citigroup reiterated a “market outperform” rating on shares of Full House Resorts in a report on Friday, August 7th. Finally, Citizens Jmp lowered their target price on Full House Resorts from $3.00 to $2.00 and set a “market outperform” rating for the company in a research note on Friday. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $3.00.

About Full House Resorts

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.