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Full House Resorts Q2 revenue results jump 227%

Full House Resorts has reported its revenues and earnings results for the second quarter ended June 30 2021.

2021

Revenues were $47.4m, a 227% increase from $14.5m in the prior-year period.

The prior-year period reflects the pandemic-related closure of all of the company’s properties from mid-March 2020 through late-May 2020 for Silver Slipper, and through June 2020 for its other properties.

The net income for Q2 2021 improved to $5.5m - $0.15 per diluted common share - compared to a net loss of $6.7m in the prior-year period.

Adjusted EBITDA was $14.9m, compared to an adjusted EBITDA loss of $1.4m in the second quarter of 2020. 

The company said the growth was due to operational and marketing improvements, as well as the closure of all of its properties noted above. 

“As with last quarter, our financial results continue to benefit from structural changes throughout the company,” said Daniel Lee, President and CEO of Full House Resorts. 

“These operating results are significantly above not only the 2020 period, but also meaningfully above any second quarter or first-half results in at least the past five years.

“These strong continued results have allowed us to continue to re-invest in, and improve, our properties. For example, with the ramp-up of our new marketing systems at Bronco Billy’s and Rising Star largely complete, we now look forward to upgrading the casino marketing systems at our two Nevada properties, scheduled for this year’s fourth quarter.”

Currently, five of the company’s six permitted sports wagering “skins” in Indiana and Colorado are now operating. Two additional sports wagering websites were also launched on April 1 and April 23. The remaining sports skin is expected to begin operations in the coming months.


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