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Dec 31, 2021
Full House Resorts Q4 2021 Earnings Report
Full House Resorts announced Q4 2021 results with revenue increase of 13.1% year over year. Net income was $5.0 million, or $0.14 per diluted common share and Adjusted EBITDA was $7.9 million.
Key Takeaways
Full House Resorts reported a 13.1% increase in revenue compared to the prior-year period. Net income for the fourth quarter of 2021 was $5.0 million, or $0.14 per diluted common share. Adjusted EBITDA in the 2021 fourth quarter was $7.9 million.
Revenues increased 13.1% over prior-year’s fourth quarter.
Net income for the fourth quarter of 2021 was $5.0 million, or $0.14 per diluted common share.
Adjusted EBITDA in the 2021 fourth quarter was $7.9 million.
Company selected to develop its American Place Entertainment Destination in Waukegan, Illinois; Plans to Open Temporary Casino in Waukegan in Summer 2022.
Revenue by Segment
Forward Guidance
Full House Resorts expects 2022 to be a transformative year with the introduction of American Place to the area’s residents via The Temporary and the continued transformation of the Company when Chamonix in Cripple Creek, Colorado opens in the second quarter of 2023.
Positive Outlook
- Introduce American Place to the area’s residents via The Temporary in the upcoming summer.
- Expect to begin erecting the casino structure in the next month, when major components of the structure begin to arrive on-site.
- Chamonix in Cripple Creek, Colorado, should continue the transformation of our Company when it opens in the second quarter of 2023.
- Confidence in Chamonix has reached new highs, driven by the success of a recent casino opening in Black Hawk, Colorado, and the significant growth in Colorado’s gaming revenues since the elimination of betting maximums in April 2021.
- Chamonix will be the first high-quality casino hotel in Cripple Creek, and we expect it to meaningfully grow the market’s gaming revenue and generate a strong return on investment for our Company, similar to what has occurred in Black Hawk.
Challenges Ahead
- Permanent American Place facility in Waukegan, Illinois, will require approximately three years to construct.
Historical Earnings Impact
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