Full House Resorts, Inc. announced its financial results for the first quarter ended March 31, 2025, with consolidated revenues increasing 7.3% to $75.1 million from $69.9 million in the prior-year period. This growth was primarily driven by the continued ramp-up of operations at American Place Casino and Chamonix Casino Hotel.
The company reported a net loss of $9.8 million, or $(0.27) per diluted common share, an improvement from a net loss of $11.3 million, or $(0.33) per diluted common share, in Q1 2024. Adjusted EBITDA for the quarter was $11.5 million, reflecting growth at American Place and operational improvements at Silver Slipper, though offset by elevated costs at Chamonix during its ramp-up phase.
American Place achieved a new property record in March 2025, reaching $10.9 million of monthly gaming revenue for the first time, and its player database surpassed 100,000 members. Colorado operations, including Chamonix, saw revenues grow 33.9% year-over-year, despite increased expenses due to the facility being fully operational compared to partial operations in the prior year.
New leadership at Silver Slipper contributed to a $0.6 million improvement in operating income, despite a $0.7 million decline in revenues, and a large portion of the slot floor was refreshed. At Chamonix, new general manager Brandon Lenssen and his team identified several million dollars of annual cost savings, which are expected to improve bottom-line results alongside new marketing efforts. As of March 31, 2025, the company had $30.7 million in cash and cash equivalents.
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