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Dec 31, 2024
Full House Resorts Q4 2024 Earnings Report
Full House Resorts reported a 21.5% increase in Q4 2024 revenue, driven by growth at American Place and Chamonix Casino Hotel, despite recording a net loss.
Key Takeaways
Full House Resorts reported Q4 2024 revenue of $73.0 million, reflecting a 21.5% year-over-year increase driven by continued growth at American Place and the opening of Chamonix Casino Hotel. The company posted a net loss of $12.3 million due to higher depreciation and development costs. Adjusted EBITDA improved by 42.0% to $10.4 million, signaling stronger operational performance. The company continues to focus on ramping up its new casino operations and plans for the construction of its permanent American Place facility.
Revenue increased 21.5% year-over-year to $73.0 million, driven by American Place and Chamonix Casino Hotel.
Net loss of $12.3 million, impacted by higher depreciation and preopening costs.
Adjusted EBITDA increased 42.0% to $10.4 million, reflecting improved profitability.
Midwest & South segment revenue grew 12.1% to $55.0 million, led by American Place.
Full House Resorts
Full House Resorts
Full House Resorts Revenue by Segment
Revenue by Segment
Midwest & South Revenue
CapyFin.comWest Revenue
CapyFin.comContracted Sports Wagering Revenue
CapyFin.com Forward Guidance
Full House Resorts remains focused on expanding its casino operations, improving profitability at Chamonix, and advancing the development of its permanent American Place facility.
Positive Outlook
- Strong revenue growth of 21.5% year-over-year, reaching $73.0 million.
- American Place and Chamonix Casino Hotel continue ramping up operations.
- Adjusted EBITDA increased 42.0%, signaling improved efficiency.
- Plans to break ground on the permanent American Place facility in 2025.
- Expanded leadership team to improve marketing and profitability at Chamonix.
Challenges Ahead
- Net loss of $12.3 million, impacted by depreciation and development costs.
- Increased costs at Chamonix led to segment losses despite revenue growth.
- Higher interest expenses due to outstanding debt obligations.
- Sports wagering revenue declined 20.8% due to fewer active skins.
- Short-term profitability challenges as new casinos ramp up operations.