Updated March 9, 2022 - 11:06 am
Last year was one for the record books for Las Vegas-based Full House Resorts.
Each of the gaming company’s five business segments reported their largest profits in any of the past five years, according to Full House President and CEO Dan Lee.
“It was an extremely strong year throughout the Company,” he said in a release Tuesday.
Full House, like other gaming companies, experienced a financial rebound in 2021 compared with 2020. The company generated $180.2 million in revenues during 2021, a 43.5 percent increase over their yearly revenues in 2020. Full House reported a net income of $11.7 million compared with $100,000 of net income in 2020.
Lee told investors on a Tuesday earnings call that he thinks Full House’s casino developments in Cripple Creek, Colorado and Waukegan, Illinois, position the company for continued success.
The Waukegan hotel-casino dubbed American Place is a “game changer” for the company, Lee said, adding that the property wouldn’t open until 2025. In the interim, he said, Full House intends to open a temporary suburban Chicago casino potentially sometime in the third financial quarter.
Full House is also building a hotel-casino called Chamonix Casino Hotel that is slated to open in spring 2023.
“It really is an impressive site to behold,” Lee said of the Cripple Creek resort.
The company reported fourth quarter 2021 revenues of $43.3 million, a 13.1 percent increase over the same period in 2020, as well as fourth quarter net income of $5 million compared with $3.5 million in 2020.
Shares of Full House Resorts, traded as $FLL on the Nasdaq, increased 3.29 percent to $8.16 at closing.