NASDAQ$FLL
Full House Resorts Inc · Q1 2022 earnings
Q1 2022 earnings · · Investor relations
Briefing
Full House Resorts reported a decrease in revenue and net income for the first quarter of 2022, but made significant progress on expansion plans, including the start of construction on The Temporary at American Place.
Full House Resorts announced its Q1 2022 results with a revenue of $41.4 million, a 1.9% decrease compared to the prior-year period. Net income was $0.1 million, or $0 per diluted common share, which includes $4.4 million of debt modification costs. Adjusted EBITDA was $8.4 million versus $10.8 million in the prior-year period.
- Revenues in the first quarter of 2022 were $41.4 million, a 1.9% decrease from $42.2 million in the prior-year period.
- Net income for the first quarter of 2022 was $0.1 million, or $0 per diluted common share.
- Adjusted EBITDA in the 2022 first quarter was $8.4 million versus $10.8 million in the prior-year period.
- Construction has begun on The Temporary at American Place, with an expected opening in Fall 2022.
Headline financials
Revenue & EPS history
Full House Resorts · Revenue · Quarterly
$41.4M
Revenue by segment
Full House Resorts · $71.5M total across 3 segments · Q3 2023
- Midwest & South$52.6M—73.5%
- West$11.1M—15.5%
- Contracted Sports Wagering$7.91M+619.9%11.0%
Forward guidance
Full House Resorts is focused on the construction and development of The Temporary at American Place and Chamonix Casino Hotel, expecting them to contribute to the company's growth in the future.
Tailwinds
- Construction of The Temporary at American Place has begun and is expected to open in Fall 2022.
- Agreement reached with Circa Sports for Internet sports wagering throughout Illinois and on-site sportsbooks at The Temporary and American Place.
- Construction of Chamonix Casino Hotel continues, with an expected opening in the second quarter of 2023.
- The company received a market access fee of $5 million in May 2022 and will also receive payments totaling at least $5 million per year, on an annualized basis, once Circa Sports launches its mobile sports skin in Illinois.
- The company expects to open The Temporary in Fall 2022, pending customary gaming approvals.
Headwinds
- The launch of online sports wagering in nearby Louisiana has resulted in declines in Silver Slipper’s on-site sports wagering operations.
- One of the Company’s contracted parties for sports wagering informed us of its intent to cease operations on May 15, 2022, which will create one available skin in each of Colorado and Indiana.
- Construction disruptions at Bronco Billy’s are impacting revenues and Adjusted Segment EBITDA.
- Adverse hold percentages at Rising Star and Grand Lodge negatively affected results.
- The increase in slot revenues from higher volumes in the first quarter of 2022 offset the decrease in the table games hold percentage.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2022
+0.8%
Avg return
Earnings day
+3.1%
Avg return
5 days after
+4.4%
Avg return
30 days after
55%
35 / 64 earnings
Positive
+40.4%
Q2 2020
Best reaction
-37.2%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.8% | +12.3% | -2.8% | |
| Q4 2026 | +17.6% | +25.1% | +12.3% | |
| Q3 2026 | +10.2% | +12.6% | +16.3% | |
| Q1 2025 | -5.5% | +9.7% | -4.5% | |
| Q4 2024 | +2.9% | +1.9% | -19.8% | |
| Q3 2024 | -4.1% | -2.0% | -11.9% | |
| Q2 2024 | -0.2% | +1.6% | +0.8% | |
| Q1 2024 | +6.0% | +2.6% | +0.0% | |
| Q4 2023 | +0.4% | -2.3% | +3.3% | |
| Q3 2023 | +21.8% | +19.7% | +32.3% | |
| Q2 2023 | -17.2% | -15.6% | -25.4% | |
| Q1 2023 | +7.2% | +3.3% | +12.8% | |
| Q4 2022 | -9.4% | -19.6% | -30.2% | |
| Q3 2022 | -5.5% | +5.4% | +10.5% | |
| Q2 2022 | +3.9% | +9.6% | +11.1% | |
| Q1 2022 | -21.3% | -13.7% | -9.0% | |
| Q4 2021 | +22.3% | +14.1% | +19.6% | |
| Q3 2021 | +2.8% | +3.1% | +10.0% | |
| Q2 2021 | +5.2% | +1.9% | +1.2% | |
| Q1 2021 | -0.2% | -9.2% | +4.6% | |
| Q4 2020 | +16.9% | +20.7% | +27.5% | |
| Q3 2020 | +21.9% | +39.6% | +39.3% | |
| Q2 2020 | +40.4% | +34.8% | +53.9% | |
| Q1 2020 | -2.7% | +14.7% | +15.3% | |
| Q4 2019 | -37.2% | -59.8% | -32.8% | |
| Q3 2019 | +13.7% | +21.5% | +42.3% | |
| Q2 2019 | +3.4% | +7.5% | +8.6% | |
| Q1 2019 | -12.1% | -16.7% | -22.3% | |
| Q4 2018 | +0.9% | +3.3% | -4.3% | |
| Q3 2018 | -1.4% | -7.6% | -25.7% | |
| Q2 2018 | +1.2% | -0.7% | +1.3% | |
| Q1 2018 | -1.2% | -2.0% | -1.7% | |
| Q4 2017 | +0.3% | +0.6% | +3.5% | |
| Q3 2017 | +0.3% | +9.4% | +21.6% | |
| Q2 2017 | +2.0% | -0.8% | +0.0% | |
| Q1 2017 | +0.4% | +0.9% | +1.3% | |
| Q4 2016 | +0.0% | -2.6% | +5.7% | |
| Q3 2016 | +2.4% | +0.0% | +13.9% | |
| Q2 2016 | -0.2% | -4.1% | -7.7% | |
| Q1 2016 | +6.2% | — | — | |
| Q4 2015 | +5.6% | — | — | |
| Q3 2015 | +8.4% | — | — | |
| Q2 2015 | +0.0% | — | — | |
| Q1 2015 | +4.4% | — | — | |
| Q4 2014 | -5.9% | — | — | |
| Q3 2014 | +2.4% | — | — | |
| Q2 2014 | -22.2% | — | — | |
| Q1 2014 | -18.8% | — | — | |
| Q4 2013 | +1.2% | — | — | |
| Q3 2013 | +1.1% | — | — | |
| Q2 2013 | -3.5% | — | — | |
| Q1 2013 | +4.6% | — | — | |
| Q4 2012 | -1.2% | — | — | |
| Q3 2012 | -3.1% | — | — | |
| Q2 2012 | -5.1% | — | — | |
| Q1 2012 | -0.3% | — | — | |
| Q4 2011 | -3.8% | — | — | |
| Q3 2011 | -4.2% | — | — | |
| Q2 2011 | -3.0% | — | — | |
| Q1 2011 | -0.2% | — | — | |
| Q4 2010 | +0.3% | — | — | |
| Q3 2010 | +1.7% | — | — | |
| Q2 2010 | -3.7% | — | — | |
| Q1 2010 | +2.3% | — | — |
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