Q2 Financial Report Released by Full House Resorts, Emphasizing Steady Revenue Growth
Full House Resorts, a popular casino and hotel operator, has released its financial results for the second quarter of 2025. The company showed a slight overall revenue growth of 0.6% to $73.9 million, but a worsening net loss of $10.4 million, up 20.3% year-over-year.
American Place Casino Shines
Among the properties, American Place Casino stood out as a standout performer, delivering record revenue of $30.7 million in Q2 2025, up 12.7% year-over-year. This growth was primarily due to the ramp-up of operations at the casino.
Chamonix Casino Hotel Faces Operational Challenges
On the other hand, Chamonix Casino Hotel experienced operational inefficiencies, leading to management overhaul and cost-cutting efforts. The changes are projected to save over $4 million annually, with $1.2 million in cost savings achieved during Q2.
Silver Slipper Casino and Hotel Performance Undisclosed
Unfortunately, no specific financial performance breakdown was provided for the Silver Slipper Casino and Hotel in Q2 2025. However, its revenues are included within the overall casino and hotel revenue totals, contributing $56.98 million to the casino segment and $3.72 million to the hotel segment.
Net Loss Widens Despite Modest Revenue Increases
The company's net loss widened to $10.4 million in Q2 2025 from $8.6 million in Q2 2024, despite modest revenue increases. This was influenced by costs and operational challenges, particularly at Chamonix Casino Hotel.
Cash Reserves and Debt
As of June 30, 2025, Full House Resorts had $32.1 million in cash and cash equivalents. The company also maintains substantial debt, including $450 million in senior secured notes due 2028.
Progress on American Place Facility
Full House Resorts continues to make progress toward the construction of its permanent American Place facility. The temporary property is performing well, delivering record revenue and operating profit.
Daniel R. Lee, Full House Resorts' CEO, expressed optimism about the future of the permanent American Place facility. He also stated that the company's journey toward improved efficiency continues.
Midwest & South Segment Shows Growth
The Midwest & South segment reported a year-on-year increase in revenue of 4.2% to $57.8 million, and a year-on-year increase in adjusted EBITDA of 3.9% to $12.8 million.
West Segment Sees Decline
Conversely, the West segment experienced a year-on-year decrease in revenue of 4.4% to $14.5 million. The decrease was attributed to the sale of Stockman's.
Contracted Sports Wagering Segment Declines
The Contracted Sports Wagering segment reported a year-on-year decline in revenue to $1.7 million, and a year-on-year decline in adjusted EBITDA to $1.6 million.
The adjusted EBITDA for Q2 2025 was $11.1 million, down from $14.1 million in Q2 2024.
Silver Slipper's Performance Not Reported
No information was provided about the Silver Slipper Casino and Hotel's revenue or performance in the current quarter.
Chamonix's New Management to Improve Performance
A new management team is expected to improve the performance of the Chamonix property by reducing expenses and improving profitability.
Outstanding Debt and Revolving Credit Facility
As of June 30, 2025, Full House Resorts had $25 million outstanding under its revolving credit facility.
In summary, while American Place Casino is a standout performer for Full House Resorts in 2025, Chamonix is undergoing restructuring to control costs and improve results. The Silver Slipper’s performance was not individually reported but contributes to overall casino and hotel revenues. The company’s overall financial results mixed modest growth in revenue yet deeper net losses continue amid strategic operational adjustments.
- American Place Casino's revenue growth primarily came from the ramp-up of operations in the casino-games segment, reaching $30.7 million in Q2 2025.
- Despite the savings from cost-cutting efforts at Chamonix Casino Hotel, its operational challenges contributed to the worsening net loss within the casino-and-gambling segment, reaching $10.4 million in Q2 2025.
