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Full House Resorts Lifts Revenue 5.6% as American Place Sets Records

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Full House Resorts (FLL ) grew consolidated revenue 5.6% to $78.1 million in the second quarter of 2026, driven by record results at its American Place temporary casino in Waukegan, Illinois and double-digit growth at its Colorado properties, the company reported in its quarterly earnings filing with the SEC on August 6, 2026.

The Las Vegas-based operator’s net loss narrowed to $8.7 million, or $0.24 per diluted share, from $10.4 million, or $0.29 per share, in the prior-year quarter. Operating income swung to $2.3 million from a $74,000 loss a year earlier, and Adjusted EBITDA rose 19.5% to $13.3 million from $11.1 million.

American Place, the company’s temporary casino operating in Illinois while its permanent facility is developed, posted what the company called all-time property records in the quarter, with revenue up 13.4% from the second quarter of 2025. Chief executive Daniel R. Lee said the company expects continued growth from the temporary facility and “even greater contributions” from the permanent American Place casino, which it expects to open in the second half of 2028.

American Place extension underpins the refinancing push

The more consequential development in the release is regulatory rather than operational. Full House received approval during the quarter to operate the temporary American Place facility through February 2029, a date that matters because of the company’s balance sheet. Full House carries $450.0 million in senior secured notes due 2028 (currently callable at par) plus $25.0 million drawn on a $40.0 million revolving credit facility, against $48.4 million of total liquidity as of June 30, 2026, according to the earnings release.

Lee said the company “made significant progress” toward financing the permanent American Place casino and refinancing all of its primary debt in recent weeks, while conceding that legal documentation “has taken longer to document than expected.” The temporary-casino extension to February 2029 was, in his words, “important to future bondholders” — it removes the risk of the revenue stream supporting that debt going dark before the permanent facility’s expected 18-to-24-month construction window closes. The Waukegan City Council separately approved changes to the development agreement letting the company keep the temporary casino’s Sprung structure for five years after the permanent casino opens, which Full House plans to use as an event and entertainment space.

Chamonix narrows its losses as the ramp continues

In Colorado, combined revenue at Chamonix Casino Hotel and Bronco Billy’s in Cripple Creek grew 11.7% year over year to $13.0 million, helped by new marketing programs and a growing customer database. Adjusted Property EBITDA at the pair improved 92.6% to a loss of $86,000, from a $1.2 million loss in the prior-year quarter, a modest April loss offset by positive contributions in May and June. The company recently hired a new casino director from Wynn and Fontainebleau in Las Vegas.

The wider West segment, which also includes Grand Lodge Casino at the Hyatt Regency Lake Tahoe Resort, saw revenue rise 7.3% to $15.5 million, though renovation work at the Hyatt continues to drag on Grand Lodge, where revenue fell 10.8%. The Midwest & South segment (Silver Slipper in Mississippi, Rising Star in Indiana, and American Place) generated $61.0 million in revenue, up 5.6%, with a 42-hour power outage from a downed power line trimming results at Rising Star. Contracted sports wagering, the company’s sports-betting skins in Colorado, Indiana, and Illinois, contributed $1.5 million of both revenue and segment EBITDA.

What the quarter adds up to

  • Consolidated revenue: $78.1 million, up 5.6% from $73.9 million
  • Net loss: $8.7 million ($0.24 per diluted share), improved from $10.4 million ($0.29)
  • Adjusted EBITDA: $13.3 million, up 19.5% from $11.1 million
  • American Place revenue growth: 13.4% year over year, new property records
  • Chamonix/Bronco Billy’s revenue: $13.0 million, up 11.7%
  • Liquidity at June 30, 2026: $48.4 million, against $450.0 million in senior secured notes due 2028

The through-line of the quarter is a company whose two newest properties are finally carrying their weight while its capital structure waits on one deal. American Place and Chamonix are both still ramping, and both improved materially year over year. What stands between the current balance sheet and the permanent Waukegan casino is the refinancing Lee described as close but not yet documented, with the February 2029 temporary-casino approval now in hand as the piece bondholders needed to see.

Marcus Feld is an AI-generated analyst at Gaming.net, covering mergers, acquisitions, investments, quarterly financial results, leadership changes, and capital flows within the gambling and iGaming industries.

Marcus focuses on specific business events — including deal announcements, earnings reports, funding rounds, and strategic repositionings by named companies — to explain how these movements reshape competitive landscapes and operator valuations.

Articles authored by Marcus Feld are AI-generated and reviewed by Gaming.net’s editorial team to ensure accuracy, business context, and professional coverage of industry-specific developments anchored to real news.