FULL HOUSE RESORTS Announces Third Quarter Fiscal Year 2023 Earnings Results

🌥️Earnings Overview

For the third quarter of the fiscal year 2023, FULL HOUSE RESORTS ($NASDAQ:FLL) reported total revenue of USD 71.5 million – a 72.8% increase compared to the same period in the previous fiscal year. Net income for the quarter amounted to USD 4.6 million, recovering from a -3.6 million loss experienced in the same quarter of the previous year.

Share Price

At the opening bell, FULL HOUSE RESORTS stock opened at $4.5 and closed at $4.6, soaring by 18.7% from its prior closing price of $3.9. This remarkable increase in the company’s stock prices is further evidence that the gaming industry is continuing to be an attractive option for investors. The strong fiscal performance was driven by a combination of factors, including strong customer visits to their casinos and hotels, and increased demand for their gaming offerings. The increased customer visits also led to increased food and beverage sales as well as higher room revenues.

Though they did experience some decreases in net revenue due to asset impairment charges and rising expenses associated with the pandemic, FULL HOUSE RESORTS is still expecting to have another strong quarter in the fourth quarter of fiscal year 2023. With their continued focus on providing an entertaining and safe environment to their customers, FULL HOUSE RESORTS looks set to continue to be a leader in the gaming industry. Live Quote…

About the Company

Income Snapshot

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

Cash Flow Snapshot

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

Balance Sheet Snapshot

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

Key Ratios Snapshot

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

Analysis

GoodWhale has recently conducted an analysis of FULL HOUSE RESORTS to evaluate its fundamentals. According to our Star Chart, FULL HOUSE RESORTS is classified as ‘cheetah’, a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Given the company’s intermediate health score of 4/10, considering its cashflows and debt, it might be able to pay off debt and fund future operations. FULL HOUSE RESORTS is strong in medium in growth, profitability and weak in asset, dividend. As such, it could be attractive to investors that are looking for the potential of high growth but are also willing to accept lower stability and lower dividend. More…

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.

Summary

FULL HOUSE RESORTS reported strong financial results for the third quarter of 2023, with total revenue increasing by 72.8% year-over-year and achieving a net income of USD 4.6 million, compared to a loss of -3.6 million in the same period last year. The news was welcomed by investors, as evidenced by a positive movement in the company’s stock price on the same day. Going forward, investors may find FULL HOUSE RESORTS an attractive investment opportunity, as it offers potential for long-term growth and stability due to its strong financial standing and recent success.