Bounce-back begins for US casino operator

A “phenomenal” bounce-back in the fourth quarter financials for US operator Full House Resorts was helped by sports revenue agreements.

The improvements seen in the third quarter continued in the fourth, despite the fact that historically the fourth quarter is weaker than the third. The company , which operates in Mississippi, Indiana, Nevada and Colorado, had operating income raised by $7.7m from a loss of $0.4m in the previous year.

That quarter also reflected a net income of $3.5m compared with a net loss of $4.1m and EBITDA increased fourfold.

For the full year total revenues declined to $125.6m from $165.4m in the previous year, reflecting three months of pandemic-related closures last spring. Net income was $0.1m compared with a net loss of $5.8m. EBITDA for the year rose 23.3 per cent to $19.7m from $15.9m.

Said Daniel Lee, CEO: “We now have approximately eight months of successful ‘reset operations’ behind us.” He noted that many changes to Full House’s business operations were in the implementation process before the pandemic, but they are now allowing the company to eliminate unprofitable marketing offerings.