Full House Resorts Inc (FRA:F4L)

Q2 2026 Full House Resorts Inc Earnings Call Transcript

Aug 6, 2026 / 08:30 PM GMT

Release Date Price: €1.85

Transcript 10-Q8-K

Key Points

Positve

Full House Resorts Inc (FLL) reported strong consolidated growth in Q2 2026, with revenues up 5.6% and adjusted EBITDA increasing 19.5%.
American Place, the company's flagship property, delivered its best quarter ever, with revenues up 13.4% to $34.8 million and adjusted property EBITDA up 13.8% to $10.1 million.
Chamonix showed significant improvement, with revenues rising nearly 12% and adjusted property EBITDA reaching approximately break-even, up from a $1.2 million loss in the prior year.
The company secured a crucial extension to operate its temporary Illinois casino until February 2029, minimizing downtime during the transition to the permanent facility.
Management is making operational improvements at Chamonix, including revamping the restaurant offerings and hiring a new casino director with high-end experience from Wynn and Fontainebleau.
The company is progressing on its complex refinancing, having secured commitments from four banks for a new revolving credit facility and expects to complete the transaction in Q3 2026.

Negative

Rising Star's results were negatively impacted by a 42-hour power outage caused by a downed power line, leading to a $100,000 loss for the quarter versus a $500,000 profit last year.
The renovation of the Grand Lodge in Lake Tahoe continues to disrupt casino business, with earnings off due to the closure of key amenities like the beach, high-end suites, and the Lone Eagle restaurant.
The refinancing process is taking longer than expected due to the complexity of the transaction, involving over 1,500 pages of legal documents and coordination between three different financing components.
Chamonix's win per position per day is currently about half the Black Hawk average, indicating significant underperformance compared to its primary competitor, Monarch.
The company's ability to pursue acquisitions is limited by its high leverage and the restrictions in its existing and upcoming debt agreements, as well as a desire to avoid issuing equity at current prices.
The timeline for the permanent casino in Waukegan has slipped, with the opening now expected around Q3 2028, which is closer to the 24-month end of the original 18-24 month estimate.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

FLL.OQ - Full House Resorts Inc
Q2 2026 Full House Resorts Inc Earnings Call
Aug 06, 2026 / 08:30PM GMT

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Presentation
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Unidentified_1 [1]
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Greetings and welcome to the Full House Resorts second quarter 2026 earnings call.

At this time, all participants are in a listen-only mode.

A question-and-answer session will follow the formal presentation.

If anyone requires operator assistance during the conference, please press 0 on your telephone keypad.

As a reminder, this conference is being recorded.

I would now like to turn the conference over to your host, Adam Campbell.

You may begin.

Thank you and good afternoon, everyone.

Welcome to our second quarter earnings call, as always, before we begin, we remind you that today's conference call may contain forward-looking statements that were making

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