## Full House Resorts Anticipates 43.6% Revenue Increase for Fiscal Year 2021 – Casino & Gaming – iGB
Full House Resorts anticipates its full-year 2021 revenue to be between $179.9 million and $180.4 million, reflecting a 43.6% rise from 2020.
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Full House Resorts foresees 43.6% revenue growth in fiscal year 2021.
The projected full-year 2021 outcomes would be the company’s best in eight years.
The company anticipates its operating income to be between $36.9 million and $38.1 million, a considerable increase of 262.8% from $10.5 million in 2020.
Net income is expected to be between $10.9 million and $12.6 million, compared to $100,000 in 2020, which was heavily impacted by the novel coronavirus (Covid-19) pandemic.
Adjusted EBITDA is expected to be between $46.6 million and $47.8 million, representing a 142.6% year-over-year increase. This includes $2.1 million in corporate expenses, which are not expected to reoccur in future years.
Meanwhile, the resort owners anticipate their fourth-quarter 2021 revenue to be between $43 million and $43.5 million, potentially representing a 13.5% increase from the fourth quarter of 2020.
Operating income is expected to be between $4.9 million and $6.1 million, potentially representing a 57.1% year-over-year decrease.
Net income is expected to be between $4.2 million and $5.9 million, potentially representing a 68.5% year-over-year increase. If adjusted EBITDA for the quarter is at the midpoint of the forecast range, it could represent a 25.5% year-over-year decrease.
This enterprise is pouring a significant amount of capital into new ventures. They are allocating $3 million and $8.5 million to unspecified endeavors, as the article doesn’t disclose the details. They are also constructing a temporary gambling establishment in Waukegan, Illinois, which will require an investment of approximately $100 million. This casino will feature an abundance of slot machines and table games.
The company is also boosting their investment in the Chamonix Casino Hotel in Cripple Creek, Colorado, from $180 million to $250 million. This hotel is still under construction.