Full House Resorts Inc (NAS:FLL)
$ 4.86 -0.06 (-1.22%) Market Cap: 169.13 Mil Enterprise Value: 651.79 Mil PE Ratio: 0 PB Ratio: 2.85 GF Score: 78/100
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Q2 2024 Full House Resorts Inc Earnings Call Transcript

Aug 06, 2024 / 08:30PM GMT
Release Date Price: $5.11 (+3.23%)

Key Points

Positve
  • Chamonix property generated positive EBITDA of $600,000 in the second quarter.
  • Gaming revenues at Chamonix more than doubled compared to the previous year.
  • Market share in Cripple Creek increased from 21% in January to almost 26% in June.
  • American Place revenues were up 34% and EBITDA increased by 84% in the second quarter.
  • Extended lease at Grand Lodge for 10 years, ensuring long-term stability.
Negative
  • Chamonix's EBITDA of $600,000 is below expectations given the investment.
  • Mid-week occupancy at Chamonix remains low, affecting overall profitability.
  • Sports skins revenue faced a setback due to the loss of one skin and delayed payments.
  • Silver Slipper had a rough first quarter, impacting overall performance.
  • High marketing expenses are necessary to change the perception of Cripple Creek as a downscale destination.
Operator

Ladies and gentlemen, greetings, and welcome to the Full House Resorts second quarter 2024 Earnings conference call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. (Operator Instructions) As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Lewis Fanger, CFO. Please go ahead.

Lewis Fanger
Full House Resorts Inc - Chief Financial Officer, Senior Vice President, Treasurer, Director

Thank you, and good afternoon, everyone. Welcome to our second quarter earnings call. As always, before we begin, we remind you that today's conference call may contain forward-looking statements that we're making under the safe harbor provision of federal securities laws. I would also like to remind you that the company's actual results could differ materially from the anticipated results in these forward-looking statements. Please see today's press release under the caption Forward-Looking Statements for the discussion of risks that may affect our

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