Full House Resorts ((FLL)) has held its Q2 earnings call. Read on for the main highlights of the call.
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The recent earnings call for Full House Resorts presented a mixed sentiment, highlighting robust growth and performance at American Place, while also acknowledging challenges at other properties like Silver Slipper and Chamonix. The overall tone was optimistic about American Place’s achievements but tempered by the issues faced elsewhere.
Record Revenue at American Place
American Place stood out in the second quarter with record revenue of $30.7 million, marking a 13% increase. The property also achieved record adjusted property EBITDA of $8.9 million, up 17%. This performance underscores the strong market position and operational efficiency of American Place.
Successful Growth in Customer Database
The growth in customer awareness at American Place continued to impress, with database sign-ups surpassing 107,000 people. This consistent pace of growth highlights the property’s effective marketing and customer engagement strategies.
Chamonix Cost Savings
Chamonix reported a significant reduction in operating expenses, saving $1.2 million in Q2 2025 compared to Q1 2025. This translates to nearly $5 million in annual cost synergies, showcasing the property’s efforts in improving operational efficiency.
American Place July Growth
American Place continued its strong performance into July, reporting approximately 30% revenue growth. This momentum indicates sustained customer interest and operational success.
Revenue Decline at Silver Slipper
Silver Slipper faced a revenue decline of $1.6 million, attributed to adjustments in over-comping levels and a parking garage issue that affected a key holiday weekend. These challenges highlight the need for strategic adjustments to regain momentum.
Chamonix Revenue Flat
Chamonix’s revenue remained flat at $11.6 million for Q2 2025 compared to Q1 2025. The property continues to face challenges in fully realizing its potential, indicating areas for improvement.
Tahoe Property Challenges
The Tahoe property encountered difficulties due to renovations by the new hotel owner, impacting meeting business and high-end suite availability. These challenges underscore the complexities of property management and external dependencies.
Forward-Looking Guidance
Looking ahead, Full House Resorts anticipates a 20% full-year EBITDA growth at American Place, having earned over $29 million in 2024. The company expects to be EBITDA positive in July at Chamonix, despite flat revenue. Additionally, potential refinancing of existing debt is on the horizon, with a more accommodating high-yield market.
In summary, the earnings call for Full House Resorts reflected a positive outlook for American Place, with record revenue and customer growth. However, challenges at other properties like Silver Slipper and Chamonix present areas for strategic focus. The company’s forward-looking guidance suggests optimism for continued growth and operational improvements.