Full House Resorts (FLL) AI Stock Analysis

Company Guidance

The company guided to continued momentum: consolidated Q2 revenue rose 5.6% with adjusted EBITDA up 19.5%; American Place revenue was up 13.4% to $34.8M and adjusted property EBITDA rose 13.8% to $10.1M (May gaming revenue hit $12.7M with roughly $4.4M EBITDA that month and running ~29%+ margins), and management expects further second‑half strength and continued growth in the temporary facility; they secured temporary‑facility approval through Feb 2029 and have revolver commitments from four banks with a goal to close the refinancing and project financing in Q3; permanent American Place construction is expected to take 18–24 months (roughly two years, targeting ~Q3 2028), with ~$1.5M already spent on plans and a ~$3M earth‑work contract to await financing; Chamonix revenue rose ~12% in Q2 with adjusted EBITDA ~break‑even, current win‑per‑position‑per‑day ~ $175 vs a Black Hawk average of ~$330 (Monarch north of $600) — management says hitting the Black Hawk average with 70% EBITDA flow‑through implies roughly $30M annual EBITDA (a 15% premium toward ~$40M) though they don’t expect to fully reach that this year or next, but expect “massive improvement” over the next 18 months; Rising Star was hurt by a 42‑hour outage (quarterly result ~‑$0.1M vs ~$0.5M prior year), and Silver Slipper revenue was flat (about $3.4M in the comparable quarter).