FULL HOUSE RESORTS Reports Second Quarter Earnings for FY2023

🌥️Earnings Overview

On August 8, 2023, FULL HOUSE RESORTS ($NASDAQ:FLL) announced their earnings results for the second quarter of FY2023, which ended June 30, 2023. This quarter saw total revenue increase to USD 59.4 million, a 33.8% year-over-year increase. Net income for the quarter was recorded as USD -5.6 million, a slight decrease from -4.4 million in Q2 of the previous year.

Stock Price

The stock opened at $6.1 and closed at $6.2, representing a modest increase for the day. Their portfolio of resorts includes some of the most popular and iconic brands in the gaming and entertainment industry. This was due to strong revenue growth from both casino operations and hotel/resort operations. This growth was driven by improved occupancy rates and an increase in average daily rates across all markets.

This is a testament to the company’s focus on creating customer value and loyalty. Overall, it appears that FULL HOUSE RESORTS is on track for another successful year as they continue to expand their gaming and hospitality operations. Investors will be watching the company closely over the next few quarters to see if they can maintain this momentum. 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

At GoodWhale, we have conducted an analysis of FULL HOUSE RESORTS’s financials to help our clients make informed investing decisions. After carefully reviewing the company’s financial data, we have determined that FULL HOUSE RESORTS is a medium risk investment in terms of both financial and business aspects. We have identified four risk warnings in income sheet, balance sheet, cashflow statement, and financial journal that could affect the company’s performance. To get a better understanding of these risks, we encourage our clients to register on goodwhale.com and review the warning signs in more detail. 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 results for the second quarter of the fiscal year ending June 30th 2023. Total revenue grew by 33.8% year-over-year, reaching USD 59.4 million. Net income in the quarter was also up, at -5.6 million compared to -4.4 million in the same period of the previous year.

This is a positive sign for investors as the company continues to show strong growth and remains profitable despite the current economic environment. The stock price has increased recently in light of these results, suggesting that investors are confident in the long-term prospects of the business.