Full House Resorts release Q2 results
Full House Resorts (FHR) have released their second quarter results revealing a strong performance building on last year.
FHR recorded a 16.1% net revenue increase in Q2 up to a total of $40.1m for the period.
Very impressively the company saw its operating income soar in comparison to its 2016 results, increasing a total of 56.7%.
FHR own, operate and lease several casinos around the United States including Silver Slipper Casino and Hotel in Hancock County, Mississippi; Bronco Billy’s Casino and Hotel in Cripple Creek, Colorado; Rising Star Casino Resort in Rising Sun, Indiana, and Stockman’s Casino in Fallon, Nevada.
Daniel R. Lee, President and Chief Executive Officer commented: “We had another solid quarter, with Silver Slipper again leading our growth. We are especially proud of our strong performance in the face of significant construction work during the quarter at our properties. At Grand Lodge, for example, up to two-thirds of our casino was closed for renovation work during the quarter. We completed that extensive construction at Grand Lodge on June 30 and the fresh new casino design has been well-received by our guests. Table game volumes in July 2017, for example, increased 7% versus July 2016 and slot win increased by 13%.”
The results are made even more optimistic by the amount of renovation works and growth projects still on the company’s horizon.
Lee added: “Our growth projects are not yet complete. Several other projects including significant external improvements at Stockman’s Casino, a ferry boat operation connecting Rising Star to the growing communities directly across the Ohio River in Kentucky, new arrival and VIP areas at Rising Star, and potentially a new hotel at Bronco Billy’s are all in the works. The next few quarters and even the next few years should prove to be very exciting.”
With FHR’s EBITDA increasing by 18.9%, the company’s second quarter looks much like their future, full of potential, development and success.
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