Full House Resorts Q1 Earnings Call Highlights Imminent Casino, Sportsbook

Year-on-year, Las Vegas-based Full House Resorts saw a 21% increase in revenue. But that wasn’t the most important part of the company’s Q1 earnings call earlier this month.

Full House CEO Daniel Lee announced the official opening date for its second Colorado casino, Chamonix Casino Hotel: December 26. Lee said during the call:

“On that day, we expect to open with a near-complete experience, with all three of our hotel towers, our new casino, fine dining restaurant, and parking garage. We look forward to welcoming our first guests to what we believe will be the most unique casino destination in Colorado.”

The casino will be located next door to Full House’s other Colorado casino, Bronco Billy’s Casino

CEO hails hiring of prominent chef to run casino’s high-end restaurant

Lee said the casino, which will be located in Cripple Creek, landed well-known Vegas chef Barry Dakake to head up the property’s fine dining.

“We also continue to make substantial progress at our Chamonix projec
t in Cripple Creek, Colorado,” Lee said in a Full House Resorts press release.

“Barry Dakake, a celebrated chef known for leading Barry’s Downtown Prime and N9NE Steakhouse in Las Vegas, Nevada, recently agreed to operate our fine dining restaurant at Chamonix…We look forward to vying to be one of the state’s leading restaurants with Barry at our Chamonix Casino Hotel.”

Revenue up for Full House’s three Midwest and South casino properties

During the Q1 call, the company detailed its revenue numbers from three casinos in the Midwest and South regions:

• Silver Slipper Casino and Hotel (Mississippi)
• Rising Star Casino Resort (Indiana)
• The Temporary by American Place, the company’s temporary casino in Illinois

Between those three properties, the company generated $40.8 million in Q1, a 36.2% increase year-on-year. That revenue jump is largely due to The Temporary opening in February. The new temporary casino racked up $10.4 million in revenue during the roughly six weeks it was open in Q1.

Illinois sportsbook launch on the horizon

Also mentioned during the call was that the company believes it will open its first Illinois sportsbook in August, pending regulatory approval.

The company’s sports betting revenue haul was relatively slight in Q1. Hitting just $1.2 million spread across one Colorado sportsbook and two Indiana sportsbooks. That number should see a healthy jump in Q3 when, in theory, Full House’s fourth sportsbook will be live.

Additionally, the company has one more “skin” it can use to open a sportsbook in Indiana. By this time next year, it’s possible that Full House could have five operational retail and mobile sportsbooks. And with that nearly double its revenue from sports betting.