Revenue from Full House remains stagnant, deficit deepens

Full House Resorts Reports Q2 Results: American Place Shines Amidst Widening Losses

Full House Resorts, the casino and hotel operator, has released its Q2 2025 financial results, showing a slight revenue increase but a widening net loss. The company's total consolidated revenue stood at $73.9 million, a 0.6% year-over-year increase, but the net loss widened to $10.4 million from $8.6 million in Q2 2024 [1][3][5].

The standout performer in the portfolio was American Place Casino, located in the northern suburbs of Chicago, which achieved a record performance. It generated $30.7 million in revenue, up 12.7% year-over-year, and recorded a significant increase in operating profit [3][5].

However, the Midwest and South division, which includes operations like the Chamonix Casino Hotel in Colorado, experienced operational challenges. Despite this, targeted cost reduction efforts at Chamonix saved $1.2 million in Q2, aiming for over $4 million in annualized savings to improve profitability [1][3][5]. Revenues from Colorado operations increased by 7.8% year-over-year [5].

The Silver Slipper, another property of Full House Resorts located on the Gulf Coast, experienced a decline in revenue. On the other hand, the Midwest and South division reported a 4.2% revenue boost and cash flow of $12.3 million [1].

In the West division, results slumped 4.4%, recording a $1.1 million negative return on investment. This was partially offset by stable contributions from other operations, including food and beverage, hotel revenue, and contracted sports wagering [1].

Chamonix, a Colorado property under new management, is targeting areas for improved operating efficiency. The new management team identified more than $4 million of annual expenses that do not impact the high-end guest experience [2].

CEO Dan Lee of Full House Resorts highlighted the strong performance of American Place and expressed optimism about its future. He expects the financial results for American Place to continue improving over the coming quarters, with the addition of a poker room and increased regional awareness [4].

Regarding cash flow and liquidity, the company had $32.1 million in cash and cash equivalents and carried $450 million of senior secured notes due 2028 plus $25 million on a revolving credit facility (down from $30 million in Q1 2025) [3].

In summary, Full House Resorts’ financial results show modest revenue growth mainly driven by the American Place Casino, offset by widening losses from operational challenges and ongoing expenses, with active cost-cutting efforts targeting improved future performance, especially in Midwest and South properties [1][3][5]. The management teams at both Chamonix and American Place are emphasizing profitable long-term growth.

[1] Full House Resorts Q2 2025 Earnings Release [2] Chamonix Launches New Marketing Initiative in Q3 2025 [3] Full House Resorts Q2 2025 Financial Statements [4] Interview with Dan Lee, CEO of Full House Resorts [5] Full House Resorts Q2 2025 Operational Review

Despite the wider net loss in Full House Resorts' Q2 2025 results, the finance sector may find interest in the company's growth potential, given the significant increase in operating profit at American Place Casino, a casino-and-gambling venue, which achieved a record performance.
In the next few quarters, the industry anticipates continued improvements in American Place's financial results, as highlighted by the CEO Dan Lee, due to the addition of a poker room and increased regional awareness, making it an attractive investment opportunity in the casino-games sector.