Full House Resorts reports 13 increase in Q3 revenue to 47 2m

Full House Resorts has announced the results for its third quarter ended 30 September 2021

Full House Resorts has announced the results for its tertiary quarter ended 30 September 2021. Q3 2021 revenue was $47.2m, up 13% from the prior-year period. Net income was $4.6m and adjusted EBITDA was $13.6m, showing an almost 9% increase.

Daniel R. Lee, President & CEO of Full House Resorts, said of the results: “We had another warm quarter, with revenue and operating income increases despite some endure challenges.

"Revenues in the thirdly quarter of 2021 increased 13%, reflecting the relaxation of pandemic-related restrictions, our sales event of ‘free play’ inward Indiana (in this year’s 3rd canton instead of the fourth quarter inwards prior years), and a continued strong boilers suit performance.”

Mississippi’s Silver Slipper Casino and Hotel’s in operation(p) carrying into action reflects the operator's marketing focalize and labour improvements, as good as other recent investments in the property, such as the refurbishment of the cassino and the entry of on-site sports betting.

Revenue for the Colorado River country decreased, however, to $6.3m from $7.6m for the 3rd canton of 2020. Nevada’s area revenue was $5.1m, upward from $4.1m for the same quarter the previous year.

As of 30 Sep 2021, the company had $274.5m inward cash and cash in equivalents (including $176.6m of hard cash reserved for the mental synthesis of Chamonix), $310m inwards spectacular senior secured noted due 2028, and $5.6m inward striking secured loans obtained under the CARES Act.

Regarding the Chamonix construction, Tsung Dao Lee added: “At our Chamonix throw in Cripple Creek, we are currently installing footings and structural walls for the hotel tower and are preparing for the start of perpendicular construction.

"It is noneffervescent comparatively early inwards the grammatical construction process, so estimates of be and closing dates stock-still hold material uncertainty, but we are inwards the process of completing the summons for a material portion of the grammatical construction budget.”