Full House Resorts Reports 3% Revenue Growth and $7.68 Million Net Loss in Q3 2025

Full House Resorts, Inc. reported a revenue increase of 3.0% for the third quarter of 2025, totaling $77.95 million compared to $75.69 million in the same period of 2024. The company's casino segment led this growth, generating $59.82 million, up from $56.12 million year-over-year, driven by a 5.4% increase in slot revenue and an 11.8% rise in table game revenue. However, the company experienced a net loss of $7.68 million, a slight improvement from the $8.47 million loss reported in the prior year, resulting in a basic loss per share of $0.21.

For the nine months ending September 30, 2025, Full House Resorts recorded total revenues of $226.95 million, a 3.6% increase from $219.10 million in the same period of 2024. Operating expenses also rose, increasing by 3.7% to $222.85 million, primarily due to the ramp-up of operations at the newly opened American Place and Chamonix properties. The company’s operating income for the nine-month period was $4.10 million, a slight decrease from $4.16 million in the previous year.

Strategically, Full House completed the sale of Stockman’s Casino in April 2025, which was executed in two phases for a total of $9.2 million. This sale is not expected to significantly impact the company's overall operations. Additionally, the company extended its contracted sports wagering agreement in Indiana, securing a prepayment for the remaining term through December 2031. The company continues to focus on enhancing operational efficiencies and expanding its market presence, particularly with the ongoing development of the permanent American Place facility.

Operationally, Full House Resorts reported a total cash balance of $30.93 million as of September 30, 2025, down from $40.22 million at the end of 2024. The company’s employee headcount increased to 36,111 shares outstanding, reflecting its growth strategy. The company also noted a decline in food and beverage revenues, which fell by 10.4% in the third quarter, attributed to the discontinuation of unprofitable promotional programs.

Looking ahead, Full House Resorts anticipates continued revenue growth driven by the ramp-up of its new properties and operational improvements. The company expects to leverage its existing cash reserves and available credit facilities to support ongoing operations and future capital expenditures, particularly for the construction of the permanent American Place facility. However, the company remains cautious about potential market fluctuations and economic conditions that could impact its performance.