Full House Resorts (NASDAQ:FLL) Releases Quarterly Earnings Results, Misses Estimates By $0.07 EPS

Key Points

• Full House Resorts missed quarterly estimates: The company reported a loss of $0.24 per share versus the expected $0.17 loss, while revenue of $78.06 million was slightly below consensus.
• Operating performance improved: Revenue rose 5.6% and adjusted EBITDA increased 19.5%, driven by record results at American Place and improving performance at Chamonix.
• Financing and development remain key risks: Management is targeting a third-quarter refinancing, while the permanent Waukegan casino opening has been pushed toward the third quarter of 2028 amid elevated expected financing costs.

Full House Resorts (NASDAQ:FLL - Get Free Report) issued its earnings results on Thursday. The company reported ($0.24) earnings per share for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.07), FiscalAI reports. The company had revenue of $78.06 million for the quarter, compared to the consensus estimate of $78.42 million. Full House Resorts had a negative return on equity of 971.29% and a negative net margin of 12.06%.

Here are the key takeaways from Full House Resorts' conference call:

• Positive Sentiment: Consolidated revenue increased 5.6% and adjusted EBITDA rose 19.5%, led by the American Place and Chamonix properties.
• Positive Sentiment: American Place posted another record quarter, with revenue up 13.4% to $34.8 million and property EBITDA up 13.8% to $10.1 million. Management said July was its second-best gaming-revenue month and expects further growth ahead of the permanent casino.
• Positive Sentiment: Chamonix revenue rose nearly 12% and property EBITDA improved from a $1.2 million loss a year ago to roughly breakeven, supported by more targeted marketing, stronger VIP play, and new casino-host and management hires. Management sees substantial longer-term upside as hotel occupancy and high-end gaming improve.
• Positive Sentiment: The company secured approvals to operate the American Place temporary facility through February 2029 and amended its Waukegan development agreement to retain the structure for up to five years after the permanent casino opens, potentially allowing it to become an event or entertainment venue.
• Negative Sentiment: The refinancing remains unfinished despite substantial legal progress, with management targeting completion in the third quarter. The permanent Waukegan casino is now more likely to open around the third quarter of 2028, and financing costs are expected to be in the high-single-digit range, with some components potentially reaching low double digits.

Full House Resorts Price Performance

Shares of Full House Resorts stock traded up $0.24 during trading hours on Friday, reaching $2.43. The company's stock had a trading volume of 267,670 shares, compared to its average volume of 105,481. The firm has a 50 day moving average price of $2.59 and a 200-day moving average price of $2.52. Full House Resorts has a one year low of $2.02 and a one year high of $4.29. The company has a debt-to-equity ratio of 187.23, a current ratio of 0.60 and a quick ratio of 0.57. The stock has a market cap of $88.11 million, a P/E ratio of -2.38 and a beta of 1.24.

Key Headlines Impacting Full House Resorts

Here are the key news stories impacting Full House Resorts this week:

• Positive Sentiment: Full House reported second-quarter revenue of approximately $78.1 million, up 5.6% year over year, while gross profit increased 5.1% to $40.4 million. American Place posted record results, providing evidence of continued operating momentum. Full House Resorts Lifts Revenue 5.6% as American Place Sets Records
• Positive Sentiment: Management said Chamonix could generate annual EBITDA of $30 million to $40 million once fully ramped. The company also expects to complete a refinancing in the third quarter, which could improve liquidity and reduce balance-sheet pressure if successful. Full House Resorts Targets Chamonix EBITDA and Refinancing
• Positive Sentiment: Citizens JMP maintained a “market outperform” rating, indicating confidence in potential upside despite lowering its price target from $4.00 to $3.00. Citizens JMP Price Target Update
• Neutral Sentiment: The company’s earnings call focused on property-level growth and the planned refinancing, offering investors additional detail on how management expects to improve profitability. Full House Resorts Q2 2026 Earnings Call Transcript
• Negative Sentiment: Full House posted a net loss attributable to common shareholders of $8.7 million, or $0.24 per diluted share, versus the $0.17 loss analysts expected. Revenue also came in slightly below consensus, and the company ended the quarter with $33.4 million in cash and approximately $643.4 million in total liabilities. Full House Resorts Q2 2026 Earnings

Analyst Ratings Changes

FLL has been the topic of a number of research reports. Citizens Jmp reduced their price target on shares of Full House Resorts from $4.00 to $3.00 and set a "market outperform" rating on the stock in a report on Friday. Wall Street Zen lowered Full House Resorts from a "hold" rating to a "sell" rating in a research report on Saturday. Citigroup reaffirmed a "market outperform" rating on shares of Full House Resorts in a report on Friday. Finally, Weiss Ratings upgraded Full House Resorts from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, July 31st. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $3.50.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. 1060 Capital LLC purchased a new stake in Full House Resorts during the fourth quarter valued at approximately $1,044,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Full House Resorts by 282.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 343,233 shares of the company's stock worth $1,102,000 after purchasing an additional 253,536 shares during the period. Jane Street Group LLC boosted its holdings in shares of Full House Resorts by 1,685.4% in the 2nd quarter. Jane Street Group LLC now owns 229,301 shares of the company's stock worth $839,000 after purchasing an additional 216,458 shares during the period. Mink Brook Asset Management LLC bought a new position in shares of Full House Resorts during the 2nd quarter valued at approximately $739,000. Finally, Marshall Wace LLP bought a new position in shares of Full House Resorts during the 2nd quarter valued at approximately $681,000. Institutional investors own 37.68% of the company's stock.

About Full House Resorts

Full House Resorts, Inc NASDAQ: FLL is a gaming, lodging and entertainment company headquartered in Summerfield, Nevada. Founded in 1987, the company designs, develops and operates casino resorts and ancillary hospitality facilities in multiple U.S. markets. Its business model emphasizes regional gaming properties that combine slot machines, table games, hotel accommodations and live entertainment to serve a broad customer base.

The company's property portfolio spans five states, including Bronco Billy's Casino & Hotel and Grand Lodge Casino in Black Hawk, Colorado; Silver Slipper Casino Hotel and Harlow's Casino Resort in Mississippi; Running Aces Harness Park & Casino in Minnesota; Rising Star Casino Resort in Indiana; and Stockman's Casino in Nevada.

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