Full House Resorts (FLL) AI Stock Analysis

• Market Cap: $116.92M
• Dividend Yield: N/A
• Average Volume (3M): 185.44K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.61
• Revenue Growth: 13.92%
• EPS Growth: -54.82%
• Country: US
• Employees: 1,685
• Sector: Consumer Cyclical
• Sector Strength: 58
• Industry: Gambling, Resorts & Casinos
• EPS (TTM): -0.27
• Shares Outstanding: 35,975,647
• 10 Day Avg. Volume: 182,674
• 30 Day Avg. Volume: 185,435
• PEG Ratio: -0.53
• Price to Book (P/B): 1.61
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 37.96
• Enterprise Value/Market Cap: 1.62
• Enterprise Value/Revenue: 0.17
• Enterprise Value/Gross Profit: 1.25
• Enterprise Value/Ebitda: 1.13
• 1Y Price Target: $5.50
• Price Target Upside: 81.52% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3

• Rating: 44 Neutral
• Price Target: $3.50 ▲(15.51%Upside)

Full House Resorts has a challenging financial position with significant leverage and negative profitability, which heavily influences its score. Technical indicators suggest a bearish trend, and valuation is constrained by a negative P/E ratio. The earnings call offers some optimism with growth and cost-saving initiatives, but persistent operational challenges remain a concern.

Positive Factors

Financial Performance

Full House Resorts generated revenue of $73M, which is 1% higher than consensus expectations, and its EBITDA increased by 13% compared to consensus, marking its first EBITDA beat in four quarters.

Operational Stability

Ongoing operations at the temporary facility in Illinois will not be impacted by the construction of the permanent casino, indicating stability and positive standing with the gaming board.

Negative Factors

Consumer Challenges

The company faces challenges with lower-end consumer headwinds and snow levels in Colorado, which are expected to impact EBITDA results negatively.

Expense Management

Chamonix struggled to manage expenses over the year, leading to adjustments in estimates to reflect a slower ramp at the property.

Full House Resorts Business Overview & Revenue Model

Company Description

Full House Resorts, Inc. owns, develops, invests in, operates, manages, and leases casinos, and related hospitality and entertainment facilities in the United States. The company owns and operates the Silver Slipper Casino and Hotel in Hancock County, Mississippi, which has 757 slot machines and 24 table games, a surface parking lot, and a 129 hotel rooms; an on-site sportsbook, a fine-dining restaurant, a buffet, and a quick-service restaurant, as well as an oyster bar, a casino bar, and a beachfront bar; and 37-space beachfront RV park. It also owns and operates the Bronco Billy's Casino and Hotel in Cripple Creek, Colorado that has gaming space and 14 hotel rooms, as well as a steakhouse and a casual dining outlet. In addition, the company owns and operates the Rising Star Casino Resort in Rising Sun, Indiana, which has 642 slot machines and 16 table games; a land-based pavilion with approximately 31,500 square feet of meeting and convention space; a contiguous 190-guest-room hotel and an adjacent leased 104-guest-room hotel; a 56-space RV park; surface parking; an 18-hole golf course on approximately 230 acres; and four dining outlets. Further, it owns and operates the Stockman's Casino that is located in Fallon, Nevada, which has 186 slot machines, a bar, a fine-dining restaurant, and a coffee shop; and the Grand Lodge Casino that has 269 slot machines and 9 table games, which is integrated into the Hyatt Regency Lake Tahoe Resort, Spa and Casino in Incline Village, Nevada. Full House Resorts, Inc. was incorporated in 1987 and is headquartered in Las Vegas, Nevada.

How the Company Makes Money

Full House Resorts generates revenue primarily through its casino operations, which include gaming activities such as slot machines, table games, and sports betting. The company earns money from hotel accommodations and food and beverage services offered at its properties. Additionally, Full House Resorts may benefit from non-gaming entertainment amenities, special events, and partnerships with local businesses to enhance the overall guest experience. Revenue is also influenced by the company's ability to attract tourists and local patrons, optimize its gaming and hospitality offerings, and manage operating costs effectively.

Full House Resorts Financial Statement Overview

Summary

Full House Resorts faces significant financial challenges, particularly with profitability and cash flow. Despite a stable gross profit margin, the company struggles with net losses and high debt levels. The balance sheet shows substantial leverage, while cash flow issues raise concerns about future financial flexibility.

Income Statement

Full House Resorts shows a volatile performance in terms of revenue and net income, with significant fluctuations over the years. The TTM (Trailing-Twelve-Months) gross profit margin is 51.10%, indicating a solid ability to cover direct costs, but the net profit margin remains negative due to substantial net losses. The revenue growth rate is modest, and negative net income indicates challenges in achieving profitability.

Balance Sheet

The company's balance sheet reflects high leverage, with a debt-to-equity ratio of 17.10, suggesting a heavy reliance on debt financing. The equity ratio is low at 4.72%, which may pose a risk if the company faces financial distress. Return on equity is negative due to net losses, highlighting profitability challenges.

Cash Flow

Cash flow statements reveal a declining trend in free cash flow, with a negative free cash flow growth rate. The operating cash flow to net income ratio is 0.22, indicating a weak conversion of earnings into cash. Continued negative free cash flow poses a concern for liquidity and future capital expenditures.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
297.20M	292.06M	231.63M	163.28M	180.16M	125.59M
	Gross Profit
150.98M	149.90M	131.42M	87.84M	103.01M	65.05M
	EBIT
4.09M	2.75M	-1.16M	12.68M	37.55M	10.48M
	EBITDA
43.70M	42.63M	31.26M	15.79M	41.67M	16.27M
	Net Income Common Stockholders
-39.16M	-40.67M	-24.90M	-14.80M	11.71M	147.00K
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
30.71M	40.22M	36.16M	56.59M	88.72M	37.70M
	Total Assets
657.20M	673.33M	688.46M	595.33M	473.84M	212.62M
	Total Debt
529.99M	527.67M	514.84M	424.06M	321.36M	129.24M
	Net Debt
499.28M	487.45M	478.68M	367.47M	232.64M	91.55M
	Total Liabilities
626.20M	653.73M	610.61M	495.54M	361.13M	155.94M
	Stockholders Equity
31.00M	40.50M	77.85M	99.79M	112.72M	56.68M
Cash Flow		Free Cash Flow
-24.05M	-38.74M	-176.77M	-166.56M	-7.49M	6.35M
	Operating Cash Flow
8.78M	13.85M	22.34M	4.38M	29.50M	8.99M
	Investing Cash Flow
-25.91M	-45.67M	-198.76M	-172.11M	-37.22M	-2.62M
	Financing Cash Flow
1.80M	-1.50M	59.03M	93.62M	235.31M	1.48M

Full House Resorts Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 3.03
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FLL, the sentiment is Negative. The current price of 3.03 is below the 20-day moving average (MA) of 3.28, below the 50-day MA of 3.25, and below the 200-day MA of 4.38, indicating a bearish trend. The MACD of -0.06 indicates Positive momentum. The RSI at 38.68 is Neutral, neither overbought nor oversold. The STOCH value of 37.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FLL.

Full House Resorts Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
INSE	64 Neutral	$208.30M	2.95	-12.77%	―	-7.53%	2035.55%
Sector *	62 Neutral	$6.82B	11.05	2.80%	4.32%	2.67%	-24.92%
CPHC	60 Neutral	$86.03M	104.73	0.98%	1.64%	-2.62%	-90.75%
GAN	51 Neutral	$91.53M	―	229.13%	―	7.02%	74.19%
CNTY	48 Neutral	$67.50M	―	-350.66%	―	-1.27%	-230.55%
FLL	44 Neutral	$116.92M	―	-79.70%	―	13.92%	-54.82%
LTRY		$30.17M	―	-98.11%	―	―	―

Full House Resorts Corporate Events

Full House Resorts Holds Annual Stockholders Meeting

On May 15, 2025, Full House Resorts held its Annual Meeting of Stockholders, where 86.3% of shares were represented. During the meeting, stockholders elected seven directors, approved the 2025 Equity Incentive Plan, ratified Ernst & Young LLP as the independent auditor, and voted on executive compensation matters, deciding to hold advisory votes on executive compensation annually.

The most recent analyst rating on (FLL) stock is a Buy with a $5.50 price target. To see the full list of analyst forecasts on Full House Resorts stock, see the FLL Stock Forecast page.

Full House Resorts Appoints New Chief Marketing Officer

On May 13, 2025, Full House Resorts announced the appointment of Joshua Le Duff as Senior Vice President and Chief Marketing Officer, pending customary gaming approvals. Le Duff, with extensive experience in the casino industry, previously served as Vice President of Marketing at Pala Casino Spa Golf Resort. To incentivize his employment, the company granted him 29,940 restricted shares, vesting over three years, as approved by the Compensation Committee under Nasdaq rules.

The most recent analyst rating on (FLL) stock is a Buy with a $5.50 price target. To see the full list of analyst forecasts on Full House Resorts stock, see the FLL Stock Forecast page.