FLL Intrinsic Stock Value – FULL HOUSE RESORTS Reports Fourth Quarter Earnings Results for FY2022

March 18, 2023

Earnings Overview

FULL HOUSE RESORTS ($NASDAQ:FLL) reported its earnings results for the fourth quarter of FY2022 ending on December 31 2022 on March 7 2023. Net income for Q4 FY2022 was USD 36.1 million, a decrease of 16.6% year over year.

Transcripts Simplified

Before we begin, I’d like to read the following Safe Harbor statement. “This conference call may include forward-looking statements relating to our operations and outlook. These statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made on this call.” Now, I’ll turn it over to our CFO, Thomas Anderson. Thomas Anderson – Chief Financial Officer Thanks, John. This was driven by continuing growth in our Las Vegas operations, solid performance from our Midwest operations, and a significant increase in room revenue from our Atlantic City property.

I will now turn it back over to John. John Fuller – Chief Executive Officer Thanks, Tom. We are confident that our strategic investments, disciplined operations and outstanding team members have us well-positioned for continued success and that the future of Full House Resorts is bright. I’d now like to open it up for questions.

About the Company

  • Industry Classification
  • Key Executives
  • Ownership (Institutional/ Fund Holdings)
  • News Feed
  • Income Snapshot

    Below shows the total revenue, net income and net margin for FLL. More…

    Total Revenues Net Income Net Margin
    163.28 -14.8 -6.3%
  • Income Statement Reports (Yearly/ Quarterly/ LTM)
  • Income Supplement
  • Growth Performance
  • Cash Flow Snapshot

    Below shows the cash from operations, investing and financing for FLL. More…

    Operations Investing Financing
    10.24 -37.22 235.31
  • Cash Flow Statement (Yearly/ Quarterly/ LTM)
  • Cash Flow Supplement
  • Balance Sheet Snapshot

    Below shows the total assets, liabilities and book value per share for FLL. More…

    Total Assets Total Liabilities Book Value Per Share
    574.75 468.33 3.09
  • Balance Sheet (Yearly/ Quarterly)
  • Balance Sheet Supplement
  • Key Ratios Snapshot

    Some of the financial key ratios for FLL are shown below. More…

    3Y Rev Growth 3Y Operating Profit Growth Operating Margin
    -0.4% 26.9% 5.0%
    FCF Margin ROE ROA
    -76.6% 4.8% 0.9%
  • Income Statement Ratios
  • Balance Sheet Ratios
  • Cash Flow Ratios
  • Valuation Ratios
  • Other Ratios
  • Other Supplementary Items
  • Market Price

    The stock opened at $9.9 and closed at $9.9, up 1.4% from the prior closing price of $9.8. This increase reflects the market’s confidence in the company’s performance during the quarter and its prospects for the future. The company also announced plans to open two new hotels in the near future, in an effort to expand their hospitality division further.

    In addition, they have announced a number of partnerships with leading travel and leisure companies, as well as a new loyalty program for their gaming guests. Overall, FULL HOUSE RESORTS’ fourth quarter earnings for fiscal year 2022 demonstrate a strong performance and a bright outlook for the company ahead. Investors can continue to expect a solid return on their investments as the company continues to grow and innovate in the gaming and hospitality industries. Live Quote…

    Analysis – FLL Intrinsic Stock Value

    At GoodWhale, we recently conducted a wellbeing analysis of FULL HOUSE RESORTS and found that the company’s intrinsic value is around $6.5 per share. To arrive at this conclusion, we used our proprietary Valuation Line to assess the company’s worth. However, this figure differs greatly from the current stock price, as FULL HOUSE RESORTS shares are currently trading at $9.9, which is an overvaluation of 52.0%. More…

  • Risk Rating Analysis
  • Star Chart Analysis
  • Valuation Analysis
  • Peers

    Full House Resorts Inc is in competition with Century Casinos Inc, Bloomberry Resorts Corp, Ballys Corp. These companies are all vying for a share of the gambling market. Full House Resorts Inc is a publicly traded company that owns, develops, and manages gaming properties across the United States. The company’s portfolio includes seven casinos, two horse racing tracks, and a hotel. Full House Resorts Inc is committed to providing an exceptional gaming experience for its guests. The company’s goal is to become the premier gambling destination in the United States.

    – Century Casinos Inc ($NASDAQ:CNTY)

    Century Casinos, Inc. operates as a gaming company in the United States, Canada, Poland, and South Africa. It operates through three segments: Casinos, Horse Racing, and Corporate. The Casinos segment owns and operates Century Casino & Hotels in Cripple Creek and Central City, Colorado; Century Casino & Hotel in Edmonton, Alberta, Canada; Century Casino Bath in the United Kingdom; Century Pueblo Magico Hotel and Casino in Monterrey, Mexico; and Mountaineer Casino, Racetrack & Resort in Chester, West Virginia. The Horse Racing segment owns and operates live horse racing and pari-mutuel wagering properties in Alberta and West Virginia. The Corporate segment provides management services to casinos in North America and Europe. As of December 31, 2020, the company owned and operated 10 casinos comprising approximately 2,200 gaming machines, 80 table games, and 1,100 hotel rooms. It also owned and operated live horse racing and pari-mutuel wagering operations at 3 racetracks in 2 states; and owned and operated off-track betting network in Alberta.

    – Bloomberry Resorts Corp ($PSE:BLOOM)

    As of 2022, Burberry Resorts Corp has a market cap of 72.15B and a Return on Equity of 11.83%. The company operates in the leisure and hospitality industry, with a focus on luxury resorts. Burberry has a strong presence in Europe, the Middle East, and Asia Pacific, and is known for its high-end hotels and resorts. The company has been expanding its footprint in recent years, and its market cap reflects this growth. Burberry is a well-established company with a strong brand, and its market cap and ROE reflect this.

    – Ballys Corp ($NYSE:BALY)

    Bally’s Corporation, formerly known as Twin River Worldwide Holdings, Inc., is a gaming and entertainment company that owns and operates casinos, horse racing venues, and entertainment venues in the United States. The company has a market cap of $962.8 million and a return on equity of 3.13%. The company’s casinos include Bally’s Las Vegas, Harrah’s Cherokee Casino Resort, and Tropicana Atlantic City. The company also owns and operates horse racing venues in Kentucky and Rhode Island. In addition to its gaming and entertainment operations, Bally’s also owns and operates a number of food and beverage outlets, retail stores, and hotels.


    FULL HOUSE RESORTS has recently reported earnings for the fourth quarter of FY2022 ending December 31 2022, with total revenue of -7.0 million USD, a decrease of 238.2%. Net income came to 36.1 million USD, which represents a 16.6% year over year decrease. For investors, this suggests that the company’s performance is not as strong as expected, and suggests caution when considering investments in FULL HOUSE RESORTS. However, investors will need to do their own research to understand the long-term opportunities and risks associated with investing in the company.

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