{"id":198525,"date":"2022-01-19T11:08:41","date_gmt":"2022-01-19T19:08:41","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=198525"},"modified":"2022-01-19T12:30:33","modified_gmt":"2022-01-19T20:30:33","slug":"full-house-sees-big-q4-revenue-surge-increased-spending-in-colorado","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/full-house-sees-big-q4-revenue-surge-increased-spending-in-colorado\/","title":{"rendered":"Full House Forecasts Q4 Revenue Increase, Ups Colorado Construction Spend to $250M"},"content":{"rendered":"

Full House Resorts (NASDAQ:FLL) announced preliminary fourth-quarter results today. The company indicatedrevenue for the final three months of 2021 should easily top what was reported in the year-earlier period. The company also said it’s significantly increasing the construction budget for its Chamonix project in Colorado.<\/p>\n

\"Full
Full House Resorts CEO Daniel Lee, seen in a 2018 interview. The company delivered an upbeat view on its fourth-quarter results. (Image: Las Vegas Review-Journal<\/em>)<\/figcaption><\/figure>\n

The Silver Slipper operator is forecasting fourth-quarter revenue of $43 million to $43.5 million, up from $38.3 million in the last three months of 2020. Net income is expected to be $4.2 million to $5.9 million, up from $3.5 million.<\/p>\n

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) is expected to be in the range of $7.3 million to $8.5 million for the fourth quarter of 2021, which reflects adverse hold in the Company\u2019s Nevada and Indiana segments and approximately $1.7 million of expenses related to corporate initiatives that are not expected to recur in future periods,\u201d said the company in a statement.<\/p><\/blockquote>\n

Adjusted EBITDA for the fourth quarter of 2020 was $9.8 million. Accounting for the preliminary fourth-quarter results, Full House is living up to analysts’ expectations that the operator could become one of the next gaming growth stories<\/a>. The Bronco Billy’s operator is estimating 2021 revenue will be $179.9 million to $180.4 million — well ahead of $125.6 million in 2020.<\/p>\n

\u201cAdjusted EBITDA in 2021 is expected to be in the range of $46.6\u00a0million to $47.8\u00a0million, including approximately $2.1\u00a0million of expenses related to corporate initiatives that are not expected to recur in future years. Adjusted EBITDA in 2020 was $19.7\u00a0million,\u201d according to the statement.<\/p>\n

Macro Issues Take Hold in Colorado<\/h2>\n

In addition to Bronco Billy\u2019s in Cripple Creek, Colo., and the Silver Slipper in Mississippi, Full House runs a pair of gaming properties in Nevada and one in Indiana. The company is also in the process of completing the Chamonix<\/a> Casino Hotel, which will be located adjacent to Bronco Billy\u2019s.<\/p>\n

\n

Citing a tough construction environment, inflation, and supply chain issues, Full House is upping the Chamonix budget to $250 million. Last March, the operator said it had a remaining investment<\/a> of $180 million on the luxury gaming venue.\u00a0 But as is the case across a variety of industries, inflation and a tight labor market is making it difficult to efficiently complete large-scale real estate projects.<\/p>\n<\/div>\n

At the end of last year, Full House had $265 million in cash and cash equivalents, \u201cincluding approximately $177\u00a0million of restricted cash dedicated to the construction of its Chamonix Casino Hotel project.\u201d<\/p>\n

The investment in Colorado could pay dividends over the long term because the state’s gaming market is rapidly growing. From July 2021 through November 2021, statewide gaming revenue there surged 42 percent.<\/strong><\/p>\n

Full House Illinois Update<\/h2>\n

Last month, Full House won a preliminary gaming license to open a casino resort in Waukegan, Ill., which analysts view as potentially transformative for the stock<\/a>.<\/p>\n

In advance of the permanent venue opening, Full House is targeting a mid-2022 launch of The Temporary by American Place.<\/p>\n

The $100 million temporary venue will be financed with new corporate debt and will feature approximately 1,000 slot machines and 50 table games. They will be transferred to the permanent American Place when it opens.<\/strong><\/p>\n

Full House \u201chas agreed to purchase approximately ten acres of strategically-important land adjoining the 29-acre casino site to be leased from the City of Waukegan,\u201d according to the operator.<\/p>\n","protected":false},"excerpt":{"rendered":"

Full House Resorts (NASDAQ:FLL) announced preliminary fourth-quarter results today. The company indicatedrevenue for the final three months of 2021 should easily top what was reported in the year-earlier period. The company also said it’s significantly increasing the construction budget for its Chamonix project in Colorado. The Silver Slipper operator is forecasting fourth-quarter revenue of $43 […]<\/p>\n","protected":false},"author":46,"featured_media":198526,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[],"acf":[],"yoast_head":"\nFull House Sees Big Q4 Revenue Surge, Increased Spending In Colorado<\/title>\n<meta name=\"description\" content=\"Full House fourth-quarter revenue looks strong and the company increases Colorado budget, citing inflation.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/full-house-sees-big-q4-revenue-surge-increased-spending-in-colorado\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Full House Sees Big Q4 Revenue Surge, Increased Spending In Colorado\" \/>\n<meta property=\"og:description\" content=\"Full House fourth-quarter revenue looks strong and the company increases Colorado budget, citing inflation.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/full-house-sees-big-q4-revenue-surge-increased-spending-in-colorado\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-19T19:08:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-01-19T20:30:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/01\/lee.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/full-house-sees-big-q4-revenue-surge-increased-spending-in-colorado\/\",\"url\":\"https:\/\/www.casino.org\/news\/full-house-sees-big-q4-revenue-surge-increased-spending-in-colorado\/\",\"name\":\"Full House Sees Big Q4 Revenue Surge, Increased Spending In Colorado\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/full-house-sees-big-q4-revenue-surge-increased-spending-in-colorado\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/full-house-sees-big-q4-revenue-surge-increased-spending-in-colorado\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/01\/lee.jpg\",\"datePublished\":\"2022-01-19T19:08:41+00:00\",\"dateModified\":\"2022-01-19T20:30:33+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Full House fourth-quarter revenue looks strong and the company increases Colorado budget, citing inflation.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/full-house-sees-big-q4-revenue-surge-increased-spending-in-colorado\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/full-house-sees-big-q4-revenue-surge-increased-spending-in-colorado\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/full-house-sees-big-q4-revenue-surge-increased-spending-in-colorado\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/01\/lee.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/01\/lee.jpg\",\"width\":1200,\"height\":800,\"caption\":\"Full House Resorts CEO Daniel Lee seen in 2018 interview. 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