{"id":8154,"date":"2024-11-07T06:00:48","date_gmt":"2024-11-07T06:00:48","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2024\/11\/07\/full-house-resorts-reports-revenue-growth-but-faces-net-loss-in-q3-2024\/"},"modified":"2024-11-07T06:00:48","modified_gmt":"2024-11-07T06:00:48","slug":"full-house-resorts-reports-revenue-growth-but-faces-net-loss-in-q3-2024","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2024\/11\/07\/full-house-resorts-reports-revenue-growth-but-faces-net-loss-in-q3-2024\/","title":{"rendered":"Full House Resorts Reports Revenue Growth But Faces Net Loss in Q3 2024"},"content":{"rendered":"<div>\n<p>Full House Resorts recently released its Q3 2024 financial results, which revealed a significant net loss in addition to revenue growth. The company recorded a net loss of $8.5 million for the quarter, despite revenue increasing 5.8% year over year to $75.7 million. This compares with the $4.6 million in net profits seen during the same period last year.<\/p>\n<h2><strong>Impact of Expansion Costs and Depreciation<\/strong><\/h2>\n<p>The company attributes its Q3 net loss largely to pre-opening expenses and development costs associated with new properties, as well as depreciation linked to the new American Place and Chamonix facilities. The sale of Stockman\u2019s Casino brought a $2 million gain, yet it wasn\u2019t enough to offset the other financial impacts. Adjusted EBITDA fell significantly by 43%, totaling $11.7 million for the quarter.<\/p>\n<p>Discussing Chamonix\u2019s launch, Full House Resorts President and CEO Daniel Lee shared optimism: <em>\u201cThis week, as political ad spending wanes, we will commence our first post-opening awareness campaign for Chamonix. We believe Chamonix is an unparalleled casino for the region. We remain confident in its earnings potential over the coming quarters and in the longer-term.\u201d<\/em><\/p>\n<p>Lee also touched on the company\u2019s upcoming American Place facility, explaining that construction is currently paused pending litigation, which he anticipates will resolve within a few quarters.<\/p>\n<p>The Midwest &#038; South sectors contributed $54.5 million in Q3 2024, representing a 3.7% year-over-year increase in revenue growth when broken down by area. In the meantime, the West segment\u2019s revenue increased by 74.9% to $19.4 million, indicating a successful performance.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/betus\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n\t\t<amp-img alt=\"BetUS\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/BetUS.png.webp\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/betus\/\" title=\"BetUS\" target=\"_blank\" rel=\"nofollow noopener\">BetUS<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong><strong>Get 125% \/ $2,500 on 1st deposit!<\/strong><\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive Welcome Bonus of up to $2,500<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino &#038; Sports<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/igaming.org\/site\/betus\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>With nearly $56.1 million in Q3 2024, casino operations accounted for the largest portion of Full House\u2019s income streams. Hotel operations and contracted sports wagering provided $4.7 million and $3.8 million, respectively, while food and beverage sales contributed $11.1 million.<\/p>\n<p>Full House Resorts is still dedicated to its expansion plan, concentrating on long-term growth as it moves on with Chamonix\u2019s promotion and waits for the American Place project to be resolved, despite the financial difficulties of this quarter.<\/p>\n<p>The post <a href=\"https:\/\/igaming.org\/casino-news\/full-house-resorts-reports-revenue-growth-but-faces-net-loss-in-q3-2024\/\">Full House Resorts Reports Revenue Growth But Faces Net Loss in Q3 2024<\/a> appeared first on <a href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Full House Resorts recently released its Q3 2024 financial results, which revealed a significant net loss in addition to revenue growth. The company recorded a net loss of $8.5 million for the quarter, despite revenue increasing 5.8% year over year to $75.7 million. This compares with the $4.6 million in net profits seen during the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-8154","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/8154","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=8154"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/8154\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=8154"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=8154"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=8154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}