{"id":261,"date":"2024-06-27T10:21:13","date_gmt":"2024-06-27T07:21:13","guid":{"rendered":"https:\/\/bebidashve.com\/2024\/06\/27\/full-house-reports-third-quarter-financial-results\/"},"modified":"2024-06-27T10:21:13","modified_gmt":"2024-06-27T07:21:13","slug":"full-house-reports-third-quarter-financial-results","status":"publish","type":"post","link":"https:\/\/bebidashve.com\/2024\/06\/27\/full-house-reports-third-quarter-financial-results\/","title":{"rendered":"Full House Reports Third Quarter Financial Results"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/kDUpasvfbW4\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>The affluent Hotel Group revealed plans to launch a fresh gambling establishment in Illinois within the next three months, while also declaring that another site in Colorado will commence operations in the middle of 2023.<\/p>\n<p>Product and system assessments for the location situated in Waukegan, Illinois will commence by the end of November, with roughly 1,000 slot machines being put in place this week. The facility&#8217;s inauguration will also generate hundreds of positions, with over 400 roles already available.<\/p>\n<p>Meanwhile, Rich Hotel stated that the Chamonix project in Cripple Creek, Colorado is advancing smoothly, with President and CEO Daniel Lee adding that the project achieved the &#8220;topping out&#8221; milestone in September.<\/p>\n<p>&#8220;In Waukegan, Illinois, we are working on the final touches and are prepared to install the slot machines this week,&#8221; Lee stated. &#8220;We anticipate completing the installation of the entire slot machine area by the end of November and be prepared for testing.<\/p>\n<p>&#8220;As with all new casino openings, we need to finish a series of preparations before welcoming our initial patrons. Thus, while the company anticipates opening within the next three months, the precise opening date is still uncertain.&#8221; <\/p>\n<p>As the temporary gambling establishment opens its doors, it will be the sole gambling establishment in Lake County, Illinois, a region boasting a population of roughly 700,000 and recognized as one of the most affluent counties in the United States.<\/p>\n<p>The construction of the Chamonix is progressing at a steady pace, with the glass exterior already in place and interior drywall work underway. Upon completion, Chamonix will stand as one of the largest casino hotels in Colorado, and the most expansive and luxurious casino hotel in Cripple Creek, which is the primary casino destination within the Colorado Springs market.<\/p>\n<p>Full House&#8217;s Third Quarter Financial Performance<br \/>\nAlongside the latest updates on these two facilities, Full House also unveiled its financial performance for the third quarter of fiscal year 2022, which witnessed a 12.3% year-over-year decline in revenue, reaching $41.4 million (\u00a336.1 million\/\u20ac41.4 million).<\/p>\n<p>Gambling revenue experienced an 8.6% decrease to $29.7 million, food and beverage revenue dipped by 4.2% to $6.8 million, and other revenue, including contract sports betting, saw a significant 53.9% decline to $2.4 million. The sole area of growth was observed in the hotel sector, which saw a slight increase in revenue to $2.5 million.<\/p>\n<p>When examining regional performance, the Silver Slipper Casino Hotel in Illinois emerged as the top performer, generating $20 million in revenue, representing a 7.0% year-over-year decrease, yet still marking one of the most successful quarters in the hotel&#8217;s history.<\/p>\n<p>Revenue at the Rising Star Casino Resort in Indiana also experienced a decline of 23.8% to $9.6 million, while revenue at the Bronco Billy&#8217;s Casino Hotel in Colorado saw a more substantial 30.2% decrease to $4.4 million. <\/p>\n<p>Bronco Billy&#8217;s Casino and Ranch, situated in Nevada, witnessed a substantial 23.5% surge in earnings compared to the corresponding period in the previous year. However, income generated from contract sports wagering experienced a significant decline of 31.3%, plummeting to $1.1 million.<\/p>\n<p>The overall operational expenditures for the quarter amounted to $39 million, marking an 8.0% increase from the $36.1 million recorded during the same period in the preceding year. Full House also disclosed that financial charges reached $5.9 million, leading to a pre-tax deficit of $3.5 million, in contrast to a profit of $4.7 million during the equivalent period in the previous year.<\/p>\n<p>Full House incurred $29,000 in income taxes, resulting in a final net deficit for the quarter of $3.6 million, as opposed to a profit of $4.6 million in the third quarter of the preceding year. Furthermore, adjusted EBITDA experienced a substantial decrease of 42.7%, settling at $7.8 million. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The affluent Hotel Group revealed plans to launch a fresh gambling establishment in Illinois within the next three months, while also declaring that another site in Colorado will commence operations in the middle of 2023. Product and system assessments for the location situated in Waukegan, Illinois will commence by the end of November, with roughly [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>New Casino Coming to Illinois! \ud83c\udfb2<\/title>\n<meta name=\"description\" content=\"Get ready to roll the dice! A new casino is opening in Waukegan, Illinois, with over 1,000 slot machines and hundreds of jobs.\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bebidashve.com\/2024\/06\/27\/full-house-reports-third-quarter-financial-results\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"Full House Reports Third Quarter Financial Results\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"Get ready to roll the dice! 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