Full House Resorts reports Q1 EPS (33c), consensus (17c)

Reports Q1 revenue $69.92M, consensus $76.65M. “We had a strong quarter of growth, led by American Place,” said Daniel R. Lee, President and Chief Executive Officer of Full House Resorts. “Typical of most new casino openings, American Place has continued to improve its operations since its opening just over a year ago. During the first quarter, quarterly revenues at American Place rose to their highest yet – $25.8 million. Similarly, Adjusted Property EBITDA rose to $7.4 million. As reported by the Illinois Gaming Board, monthly revenues at American Place reached a new record in December 2023, only to then exceed that record in February 2024 and again in March 2024. March was the first month with full year-over-year comparisons, and gaming revenues in that month rose 34% compared to March 2023. The strong first quarter results were assisted by the opening of our high-end restaurant, North Shore Steaks & Seafood, which opened on February 14, 2024. We look forward to continued growth at American Place as its database continues to grow and operations continue to season.”