Full House Resorts | 10-Q: FY2025 Q3 Revenue Beats Estimate at USD 77.95 M

Revenue: As of FY2025 Q3, the actual value is USD 77.95 M, beating the estimate of USD 76.4 M.

EPS: As of FY2025 Q3, the actual value is USD -0.21, missing the estimate of USD -0.2038.

EBIT: As of FY2025 Q3, the actual value is USD 3.436 M.

Midwest & South Segment

• Revenues: $58.3 million for Q3 2025, up 7.0% from $54.5 million in Q3 2024. For the nine months ended September 30, 2025, revenues were $173.3 million, up 5.3% from $164.6 million in the prior-year period.
• Casino Revenue: Increased by 11.5% to $46.7 million in Q3 2025 from $41.9 million in Q3 2024. For the nine months ended September 30, 2025, casino revenue was $136.9 million, up 8.8% from $125.8 million in the prior-year period.
• Adjusted Segment EBITDA: $11.6 million for Q3 2025, up 12.7% from $10.2 million in Q3 2024. For the nine months ended September 30, 2025, Adjusted Segment EBITDA was $37.4 million, up 6.3% from $35.2 million in the prior-year period.

West Segment

• Revenues: $18.0 million for Q3 2025, down 7.2% from $19.4 million in Q3 2024. For the nine months ended September 30, 2025, revenues were $48.1 million, up 1.1% from $47.6 million in the prior-year period.
• Casino Revenue: Decreased by 7.7% to $13.2 million in Q3 2025 from $14.3 million in Q3 2024. For the nine months ended September 30, 2025, casino revenue was $35.2 million, down 3.9% from $36.7 million in the prior-year period.
• Adjusted Segment EBITDA: $3.2 million for Q3 2025, up 167.9% from $1.2 million in Q3 2024. For the nine months ended September 30, 2025, Adjusted Segment EBITDA was -$0.4 million, down from $1.9 million in the prior-year period.

Contracted Sports Wagering Segment

• Revenues: $1.6 million for Q3 2025, down 8.8% from $1.8 million in Q3 2024. For the nine months ended September 30, 2025, revenues were $5.6 million, down 19.6% from $6.9 million in the prior-year period.
• Adjusted Segment EBITDA: $1.5 million for Q3 2025, down 24.3% from $2.0 million in Q3 2024. For the nine months ended September 30, 2025, Adjusted Segment EBITDA was $5.3 million, down 18.6% from $6.5 million in the prior-year period.

Corporate

• Corporate Expenses: $1.5 million for Q3 2025, down from $1.7 million in Q3 2024. For the nine months ended September 30, 2025, corporate expenses were $4.9 million, down from $5.4 million in the prior-year period.

Cash Flow

• Operating Cash Flow: Cash used in operations was $2.1 million for the nine months ended September 30, 2025, compared to $1.0 million in the prior-year period.
• Investing Cash Flow: Cash used in investing activities was $8.9 million for the nine months ended September 30, 2025, compared to $37.7 million in the prior-year period.
• Financing Cash Flow: Cash provided by financing activities was $1.6 million for the nine months ended September 30, 2025, compared to cash used in financing activities of $1.3 million in the prior-year period.

Future Outlook and Strategy

• Core Business Focus: The company plans to continue the ramp-up of operations at American Place and Chamonix, with a focus on improving operational efficiencies and profitability.
• Non-Core Business: The company is exploring additional financing options to fund the construction of the permanent American Place facility, with a construction budget of approximately $302 million.