Earnings less than predicted from Full House Resorts

By Chris SierotyLAS VEGAS REVIEW-JOURNAL

March 10, 2012 - 2:02 am

Full House Resorts Inc. on Thursday fell short of analyst expectations when it reported fourth-quarter earnings of $500,000, or 3 cents a share, compared with $2 million, or 11 cents a share, for the same period last year.

The Las Vegas-based casino management firm attributed the decline in earnings to the expiration of a management contract with Harrington Raceway Inc. in Delaware. The contract generated $1.5 million in the fourth quarter of 2010.

Analysts surveyed by Yahoo Finance expected fourth-quarter earnings of 6 cents a share.

For 2011, Full House reported net income of $478,529, or 13 cents a share, compared with $1.95 million, or 43 cents a share in 2010. Analysts had expected earnings of 37 cents a share in 2011.

Contact reporter Chris Sieroty at csieroty@reviewjournal.com or 702-477-3893.

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