The following is a summary of the Full House Resorts, Inc. (FLL) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Full House Resorts reported strong Q1 earnings for their American Place casino, with revenues rising by 39% compared to the same period in the previous year, resulting in a current annual run rate of $36 million.

• Chamonix casino reported a Q1 loss of about $400,000 due to winter complications and transitioning costs in its opening month, but projects breakeven for April.

• The win per slot machine per day is increasing at their locations (Chamonix, Bronco Billy's, and Colorado).

• Identified Colorado as a challenging area where they need to improve marketing and payroll control.

Business Progress:

• The company has embarked on phased casino openings, recently bringing the Chamonix property's 300 room hotel online during Q1 and opening a high-end steakhouse.

• Plans to open a pool and spa at Chamonix in the following weeks.

• The company's American Place in Waukegan has been setting monthly property gaming revenue records and is working on designs for the permanent facility.

• Has overcome staffing challenges at the new properties in Waukegan and Chamonix, and now has a stable workforce.

• Working on a long-term strategy to increase group hotel revenue and has planned marketing strategies to fill hotels, especially on weeknights and off-peak seasons.

• Efforts are being made to improve their sports betting offerings, and their database has grown to over 71,000 people, providing valuable market insight.

More details: Full House Resorts IR

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