Full House Resorts has published its first quarter financial results, reporting a modest revenue decline year-on-year
Full House Resorts has published its first off quarter financial results, reporting a small revenue wane year-on-year.
For Q1 2022, the Las Vegas-based gambling casino operator generated $41.4m in revenue, a 1.9% slump from the first-class honours degree billet of 2021.
Adjusted Earnings Before Interest Taxes Depreciation and Amortization likewise reduced on a year-over-year basis. For the first-class honours degree trey months of 2022, this came to $8.4m, downwardly 22% from the $10.8m recorded for Q1 of endure year.
Full House attributed these results to unfavourable operating conditions, and an abnormally warm comparative period.
For example, Full House experienced planned mental synthesis disruptions at Bronco Billy’s in Colorado, while the set in motion of online sports betting in Pelican State had a disconfirming impact on wagering revenues at its Silver Slipper Casino.
These events, alongside the first of all billet of 2021 being the company’s “strongest in recent years,” were presented to explicate its Q1 2022 performance.
And despite these results, Full House was inward the black. While the prior-year full stop saw the operator write up a meshwork deprivation of $3.4m, for the lastly quarter, Full House produced $100,000 in sack income.
“Our firstly quarter results were solid, presumption adverse contain percentages at 2 of our properties and meaningful – but planned – mental synthesis disruptions at Bronco Billy’s to hasten the mop up of Chamonix,” said Book of the Prophet Daniel R. Lee, Full House Resorts’ President and CEO.
“Silver Slipper had a substantial quarter, though the set in motion of online sports wagering in nearby Louisiana has resulted inward declines inwards its on-site sports wagering operations.”
He added: “More importantly, we made significant get along on our expanding upon plans. In Waukegan, Illinois, we received approvals lastly week to commence construction on The Temporary at American Place.”