American casino operator Full House Resorts has reported a 21.5% increase in revenue for the fourth quarter of 2024
For the entire year of 2024, the company's revenue rose by 21.2%, totaling $292.1 million (₽26.2 billion). Key growth drivers included new projects like American Place, which opened in February 2023. In the fourth quarter, this venue saw a revenue increase of 27.5%, while for the full year, it surged by 42.4%, reaching $109.7 million (₽9.8 billion). Adjusted EBITDA for this property grew by 59.8%, amounting to $29.4 million (₽2.6 billion).
Following a ruling by the Illinois Supreme Court in January 2025, affirming Full House Resorts' right to a casino license in Waukegan, the company plans to begin construction on a permanent American Place facility. The new venue is expected to open by early August 2027.
In Colorado, revenue increased by an impressive 161.1%, fueled by the launch of the Chamonix Casino Hotel in October 2024. Although operations are still ramping up, the company anticipates further revenue growth through expanded marketing efforts.
Properties in the Midwest and Southern U.S. experienced a 12.1% revenue increase in the fourth quarter, reaching $55 million (₽4.9 billion). Meanwhile, revenues in the Western states surged by 87.2% to $16.1 million (₽1.4 billion).
As of December 31, 2024, Full House Resorts held $40.2 million (₽3.6 billion) in cash and $450 million (₽40.3 billion) in unsecured bonds maturing in 2028. The casino operator has extended the term of its credit line to January 2027 and is exploring financing options for the construction of the permanent American Place facility.
It is worth noting that Full House Resorts is implementing the Synkros casino management system at American Place.
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