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

Full House Resorts (NASDAQ:FLL) posted its quarterly earnings results on Thursday. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.07), FiscalAI reports. Full House Resorts had a negative net margin of 12.23% and a negative return on equity of 473.31%. The firm had revenue of $81.78 million during the quarter, compared to analyst estimates 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%

FLL traded down $0.10 during midday trading on Friday, reaching $0.62. 977,367 shares of the company’s stock were exchanged, compared to its average volume of 380,351. Full House Resorts has a one year low of $0.58 and a one year high of $3.37. The business has a 50-day simple moving average of $1.41 and a two-hundred day simple moving average of $2.21.

Wall Street Analyst Weigh In

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