{"id":21760,"date":"2024-05-10T13:38:01","date_gmt":"2024-05-10T13:38:01","guid":{"rendered":"https:\/\/instantcasinos.com\/?p=21760"},"modified":"2024-05-10T15:14:27","modified_gmt":"2024-05-10T15:14:27","slug":"39-6-per-cent-revenue-growth-reported-by-full-house-resorts-for-q1-2024","status":"publish","type":"post","link":"https:\/\/instantcasinos.com\/blog\/39-6-per-cent-revenue-growth-reported-by-full-house-resorts-for-q1-2024\/","title":{"rendered":"Impressive 39.6% Revenue Growth Reported By Full House Resorts For Q1 2024"},"content":{"rendered":"
Full House Resorts revenue has grown by 39.6 per cent year-on-year for the first quarter of 2024, financial results confirmed.\u00a0<\/strong><\/p>\n In total, revenue was reported at $69.9Million compared to $50.1m in the prior-year period. In February 2023, operations at American Place was launched which is reflected in the results.<\/p>\n Additionally, the phased opening of Chamonix Casino Hotel from late December is also included. The net loss for the opening quarter of 2024 was $11.3m. This does include $1.7m of pre-opening costs.<\/p>\n Adjusted EBITDA rose 22.6 per cent to $12.4m. Furthermore, the net losses also took into account depreciation and amortisation charges related to American Place and Chamonix of $5.5 m and $3.7m respectively.<\/p>\n \u201cWe had a strong quarter of growth, led by American Place. Typical of most new casino openings, American Place has continued to improve its operations since its opening just over a year ago,” said Daniel R. Lee, president and chief executive officer of Full House Resorts.<\/p>\n “During the first quarter, quarterly revenues at American Place rose to their highest yet \u2013 $25.8m. Similarly, Adjusted Property EBITDA rose to $7.4m.<\/p>\n “March was the first month with full year-over-year comparisons, and gaming revenues in that month rose 34 per cent compared to March 2023.<\/p>\n “The strong first quarter results were assisted by the opening of our high-end restaurant, North Shore Steaks & Seafood, which opened on February 14 2024.<\/p>\n “We look forward to continued growth at American Place as its database continues to grow and operations continue to season.<\/p>\n “We believe that American Place provides a reasonable case study for how Chamonix should perform in the nearer term,” he added.<\/p>\n Additionally, Lee went on to say how he believes Chamonix is far superior to the other casinos in Cripple Creek.<\/p>\nFull House Resorts Revenue<\/h2>\n