Full House’s revenue for the three months ending 30 June was $73.5m, which is equivalent to £57.8m or €67.3m. The casino is the main driver of this 23.7% rise compared to Q2 of last year at Full House.

Revenue from the casino, food and beverage, and hotel operations all climbed in Q2, with a total of $54.7 million, a 20.5% rise. New casinos like Colorado's Chamonix Casino Hotel and Illinois' American Place venue boosted the industry.

The staggered opening of Chamonix began in December of last year and will continue through the second quarter. A new restaurant, rooftop pool, and portions of a spa were inaugurated by Chamonix during the most recent quarter. In terms of American Place, the venue first welcomed patrons in the middle of February.

Chamonix is the centre of attention as CEO Daniel Lee examines the data, highlighting the consistent rise in filled hotel nights. From January to the end of Q2, occupancy increased from 2,100 to 5,900.

"Additional amenities at the property have been unveiled, and the busier summer season has begun, so there has been an uptick in visitors," Lee explained. "Our faith in Chamonix's long-term earnings potential is strengthened by the positive response it has received from early guests."

Full House's Q2 revenue is driven by American Place and Chamonix.
The new casinos had little effect on regional performance, with the Midwest and South continuing to be the regions' primary source of income. American Place in Illinois, Silver Slipper Casino, and Rising Star Casino are all part of the region that had an increase in revenue of 11.1% to $55.5m. The entire $27.2 million in Q2 revenue was accounted for by American Place.

The new casino's influence was plain to observe as one turned to the west, which encompasses Chamonix. With contributions from Colorado's Chamonix and Bronco Billy's Casino, Nevada's Grand Lodge Casino, and California's Stockman's Casino, Q2 revenue increased 87.3% to $15.2m.

Full House increased its income from its contractual sports betting operation in addition to its land-based casino activities. This includes skins from Colorado, Indiana, and Illinois that are sold in stores and those that are gambled on online.

A skin that stopped operations in Colorado had an effect of $900,000 in accelerated revenue, contributing to Full House's 107.1% revenue rise to $2.9m.

Quarter 2 saw Full House's bottom line affected by casino launch charges.
Revenue growth was anticipated with the opening of additional locations, but earnings were hit hard by the greater expenses of operating casinos and related facilities.

With a total of $71.2m, operational expenditures increased by 21.1% in Q2. The inauguration of the new casinos was responsible for $8.0 million of Full House's $25.3 million in selling, general, and administrative expenses.

Nevertheless, adjusted EBITDA increased by 34.3% to $14.1m, a result of the expansion in the top line.

Casino expenses were another noteworthy outgo at $20.7m, although prices were higher practically everywhere else as well. Annually, only pre-opening expenses fell. Profit after expenses increased by 289.7 percent to $2.3 million, though.

With interest costs coming in at $11.0m, Full House's pre-tax loss increased to $8.7m, up 74.0 percent from the previous year. After deducting an income tax advantage of $79,000, the group's net loss increased to $8.6 million from $5.6 million the previous year.

Profit for Full House takes a blow in the first half due to rising interest costs.
With the new casinos being the main drivers of growth, total revenue in H1 exceeded $143.3m, up 31%. All reporting divisions, including contractual sports betting, had increases in revenue, with total casino income jumping 30.9% to $106.4m.

With a 22.3% increase, operational expenses reached $141.7m. As a result, Full House turned a $1.7 million profit in operations, up from a $6.4 million deficit the previous year.

Up 29.1 percent year over year, adjusted EBITDA for the first half surpassed $26.6 million.

This resulted in a pre-tax deficit of $19.6m, which is wider than previous year's $16.5m, after deducting $21.3m worth of interest expenditure. The net loss for Full House was $19.9 million, up from $17 million in 2023, due to an income tax payment of $337,000.