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Full House Resorts (FLL) investor relations material
Full House Resorts Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q1 2026 revenues were $74.4 million, down slightly year-over-year due to the sale of Stockman's Casino and reduced sports wagering, but up 0.9% on a comparable basis after adjusting for the sale.
Adjusted EBITDA rose 14.7% to $13.2 million, with broad-based growth at American Place, Chamonix/Bronco Billy's, Rising Star, and Silver Slipper.
Operating income increased to $2.4 million from $0.7 million, reflecting improved efficiencies and cost controls, especially at Chamonix.
Net loss narrowed to $8.2 million from $9.8 million year-over-year, driven by higher operating income and lower expenses.
American Place saw 7% revenue growth and 8% adjusted property EBITDA growth; Chamonix and Bronco Billy's improved EBITDA by 42% despite flat revenues.
Financial highlights
Casino revenues grew 0.7% to $55.7 million; slot revenue up 2.7%, table games down 10.7%.
Adjusted EBITDA margin improved to 17.7% from 15.3% year-over-year.
Midwest & South segment revenues grew 3.8% to $59.4 million; Adjusted Segment EBITDA up 13.1% to $14.8 million.
West segment revenues declined to $13.6 million due to Stockman's sale and renovation disruptions, but Adjusted Segment EBITDA improved 28.3% to $(1.8) million.
Cash and equivalents at quarter-end were $31.4 million, with $450 million in senior secured notes and $30 million on the revolving credit facility.
Outlook and guidance
Construction of the permanent American Place Casino is set to begin within weeks, pending regulatory approval, with an estimated budget of $302 million and opening targeted in about two years.
Management expects continued ramp-up and profitability improvements at Chamonix and American Place, especially as market awareness grows in the summer season.
Liquidity is expected to be sufficient for the next 12 months, but additional financing will be needed for major capital projects.
Legislative efforts are underway to extend the temporary casino's operating period by 18 months.
- Proxy covers director elections, charter changes, auditor ratification, and executive pay.FLL
Proxy filing10 Apr 2026 - Shareholders to vote on directors, governance, auditor, and executive pay amid growth and ESG focus.FLL
Proxy filing31 Mar 2026 - Record revenue and EBITDA growth driven by new casinos in high-barrier, underserved markets.FLL
Investor presentation23 Mar 2026 - Strong revenue growth and luxury expansion in key underserved markets drive performance.FLL
Investor presentation23 Mar 2026 - Q4 revenue and EBITDA rose, led by American Place and Colorado, with permanent casino construction imminent.FLL
Q4 20255 Mar 2026 - Q2 2024 revenue rose 23.8% to $73.5M, with Adjusted EBITDA up 34.6% to $14.1M.FLL
Q2 20242 Feb 2026 - Q3 revenue up 5.8% to $75.7M, but higher costs led to a net loss of $8.5M.FLL
Q3 202416 Jan 2026 - Strong revenue growth from new properties, but losses persist amid expansion and ramp-up costs.FLL
Q4 202418 Dec 2025 - Seeks up to $500 million via shelf registration to fund growth, operations, and manage debt.FLL
Registration Filing16 Dec 2025
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