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Full House Resorts Q3 revenue rises 4.9%

By Reuters News


Overview

  • U.S. casino operator's Q3 revenue rose 4.9% but slightly missed analyst expectations

  • Company posted Q3 net loss of $8.6 mln, wider than prior year

  • Growth driven by American Place and Rising Star; Chamonix/Bronco Billy’s saw gains across departments


Outlook

  • Company expects continued growth at American Place as operations mature

  • Full House expects revenue growth to continue at Chamonix/Bronco Billy’s

  • Company is executing new initiatives at Chamonix to improve profitability and expand meeting business


Result Drivers

  • AMERICAN PLACE GROWTH - Co said American Place Casino revenue rose 9.8% in Q3, setting a new property record and continuing strong growth since opening

  • CHAMONIX/BRONCO BILLY’S INITIATIVES - Co cited revenue growth across table games, food and beverage, hotel, retail and new initiatives to improve profits at Chamonix/Bronco Billy’s

  • RISING STAR PERFORMANCE - Co said Rising Star revenues grew 10% year-over-year, resulting in higher operating profits


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Slight Miss*

$81.80 mln

$81.90 mln (5 Analysts)

Q3 Loss Per Share

$0.24

Q3 Net Loss

$8.65 mln

Q3 Operating Income

$4.42 mln

Q3 Pretax Loss

$8.58 mln

*Applies to a deviation of less than 1%; not applicable for per-share numbers.


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the casinos & gaming peer group is "buy"

  • Wall Street's median 12-month price target for Full House Resorts Inc is $3.00, about 277.6% above its November 4 closing price of $0.79


Reuters Recommended Reads

  • Nov 3 - Red Rock Resorts Q3 revenue beats estimates on Las Vegas growth

  • Nov 4 - Melco Resorts Q3 revenue slips on weaker gaming

  • Nov 5 - PENN Entertainment Q3 revenue meets estimates, adjusted EBITDA misses


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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