With the continued ramp of operations at its two newest properties, American Place and Chamonix Casino Hotel, Full House Resorts saw revenue grow in the quarter ending March 31, 2025.
On a consolidated basis, revenues in the quarter were US$75.1m, a 7.3 per cent increase from $69.9m year-on-year. Net loss for the quarter was $9.8m, or $(0.27) per diluted common share, which includes $100,000 of project development costs and a $200,000 loss on the sale of certain remaining assets at Stockman’s Casino.
In the prior-year period, net loss was $11.3m, or $(0.33) per diluted common share, reflecting $1.7m of preopening costs, primarily related to Chamonix in advance of its full opening.
Adjusted EBITDA was $11.5m in the quarter, reflecting growth at American Place and “operational improvements” at Silver Slipper, offset by elevated costs at Chamonix as its “operations continue to ramp.” In the prior-year period, adjusted EBITDA was $12.4m.
“Our three largest properties – American Place, Silver Slipper and Chamonix – all made meaningful strides during the first quarter,” said Daniel R. Lee, president and CEO of Full House Resorts.
“At American Place, we are pleased with the strong continued ramp of our temporary facility. In March 2025, for example, we not only crossed $10m of monthly gaming revenue for the first time, but we nearly reached $11m. Our player database continues to expand at an impressive pace, recently surpassing 100,000 members.
“These milestones underscore American Place’s continuing momentum, as well as its strategic location in a highly attractive and underserved market. Chicago’s northern suburbs have long lacked a premium gaming and entertainment destination, and we believe the luxurious amenities of our planned permanent casino will fill that gap.
“We anticipate a significant uplift in performance when we transition from the temporary American Place facility to the permanent casino, similar to the results that have been reported in Rockford and other cities after temporary casinos transition into their permanent facilities.”
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