Full House Resorts reports yearly net loss of $14.8m

Full House has posted its Q4 and fiscal year-end report, showing a Q4 revenue drop on 2021 to $36m.

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For Q4 2022, Full House saw drops in its casino revenue, totalling $9m against 2021’s $11m, with a net loss of $6m – compared to last year’s profit of $5m. Meanwhile, its adjusted EBITDA fell to $3.8m from the previous year’s total of $7.9m.

For the year, the company reported a net loss of $14.8m, with an adjusted EBITDA of $32m – which fell by $15m on 2021.

Daniel R. Lee, President and CEO of Full House Resorts, said of the report: “On February 17th, The Temporary by American Place officially opened to the public.

“We are very pleased with the positive response received from guests thus far, with many commenting that The Temporary is one of the nicest casinos in the area, despite being in a temporary structure. In its first twelve days of operation, we welcomed more than 40,000 guests through its doors.

“Typical of many new casinos, we opened at less than full capacity. On opening night, for example, only approximately 80% of our slot floor and 60% of our permitted table games were available. Over the coming weeks, we expect to further augment the number of available games on our floor and increase the hours of operation for our table games, which currently operate from 2 pm to 2 am.”

In recent news, Full House announced that its gaming venue, American Place, will now use Konami’s Synkros casino management system.

A temporary building (ironically) called The Temporary by American Place will soon be open with around 1,000 slot machines, 50 table games, three restaurants and Synkros’ technology spread throughout.

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