Slot management software leads to record 2Q Full House results

A tiny Las Vegas institution capitalizing connected technological advances it’s utilizing successful Colorado and Indiana reported grounds second-quarter results Tuesday.

With those successes validated by improved earnings, the institution adjacent plans to instrumentality the Konami Gaming slot instrumentality absorption strategy successful its Nevada properties.

Full House Resorts Inc., a determination casino institution led by President and CEO Dan Lee, reported nett income of $5.5 million, 15 cents a share, connected gross of $47.4 cardinal for the 4th that ended June 30.

In the aforesaid play a twelvemonth earlier, the institution reported a nonaccomplishment of $6.7 million, 25 cents a share, connected gross of $14.5 million.

“As with past quarter, our fiscal results proceed to payment from structural changes passim the company,” Lee said. “Revenues successful the 2nd 4th of 2021 accrued astir 227 percent, reflecting the mandated closure of our properties for overmuch of past year’s 2nd quarter.”

In the call, Lee said that comparing this year’s results with past year’s is simply a meaningless examination due to the fact that astir of the manufacture was unopen down successful the 2nd 4th of 2020 during the dispersed of the COVID-19 pandemic.

Full House is focusing connected being the marketplace person successful Cripple Creek, Colorado, which attracts gamblers from Colorado Springs. The institution is gathering the luxury Chamonix to articulation its different Cripple Creek property, Bronco Billy’s.

“We proceed to judge that Colorado’s gaming markets — particularly Cripple Creek — stay importantly under-penetrated and bash not person capable impermanent rooms,” Lee said. “Recent edifice expansions successful Cripple Creek and elsewhere successful Colorado look to beryllium performing well. The improvement program for our Chamonix tract allows america to adhd an further edifice wing. We are presently evaluating whether to physique this further edifice helping now, fixed the easiness to bash truthful portion we conception the broader Chamonix project.”

Lee said the further wing, if constructed, would summation the full size of the edifice by 23 percent to 370 rooms.

“We judge that it could beryllium funded, on with the remainder of the project, from our existing currency balances, which totaled $281.5 cardinal astatine the extremity of the 2nd quarter,” helium said. “Such summation requires approvals from the Cripple Creek Historic Preservation Commission and Cripple Creek City Council.”

Full House besides is capitalizing connected the start-up of 2 caller sports wagering “skins” during the quarter. Skins, sub-brands wrong sportsbooks, are valued astatine astir $1 cardinal of gross a year. The institution present has 5 of its six skins operational.

Full House, traded connected the Nasdaq exchange, fell 27 cents, 3.2 percent, to adjacent Tuesday astatine $8.12 a stock successful trading that was doubly the mean volume. But the banal gained each of it backmost aft hours, adding 28 cents, 3.4 percent, to extremity astatine $8.40 a share.

Contact Richard N. Velotta astatine rvelotta@reviewjournal.com oregon 702-477-3893. Follow @RickVelotta connected Twitter.