{"id":253348,"date":"2023-01-12T14:01:50","date_gmt":"2023-01-12T20:01:50","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=253348"},"modified":"2023-01-12T14:18:50","modified_gmt":"2023-01-12T20:18:50","slug":"new-casinos-could-lift-full-house-resorts-earninigs-in-2023","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/new-casinos-could-lift-full-house-resorts-earninigs-in-2023\/","title":{"rendered":"Full House Resorts Could Be Earnings Winner Thanks to New Casinos"},"content":{"rendered":"

Full House Resorts (NASDAQ: FLL) could deliver earnings per share (EPS) growth this year, as the operator opens two new casinos to the public.<\/p>\n

\"Full
A rendering of Full House Resorts’ Chamonix in Cripple Creek, Colo. It’s one of the venues that could power earnings growth for the operator. (Image: Full House Resorts)<\/figcaption><\/figure>\n

That\u2019s the sentiment of CBRE analyst John DeCree, who restarted coverage of the regional casino company today with a \u201cbuy\u201d rating and a $14 price target. That implies upside of 64.7% from the Wednesday close, and a 7.5x multiple to the gaming firm\u2019s fiscal 2024 earnings before interest, taxes, depreciation, and amortization (EBITDA) estimates.<\/p>\n

\n

Calling Full House an \u201cunder the radar\u201d gaming idea, the CBRE analyst said 2023 could be a significant year for the company as it opens the American Place in Waukegan, Ill., and Chamonix in Cripple Creek, Colo. A temporary version of the Illinois casino will open at some point this month, while Chamonix is slated to open its doors by the middle of this year.<\/p>\n<\/div>\n

On a conference call last November, Full House CEO Dan Lee said American Place will be larger<\/a> than the current version of the company combined, and it\u2019s possible that will be true of the temporary venue as well. In addition to American Place and Chamonix, Full House runs a pair of gaming properties in Nevada, one in Indiana, Bronco Billy\u2019s in Cripple Creek, and the Silver Slipper in Mississippi.<\/p>\n

Full House Could Deliver for Investors this Year<\/h2>\n

Some analysts believe Full House is the next regional gaming operator of scale, following in the footsteps of the likes of Bally\u2019s (NYSE: BALY)<\/a>, Golden Entertainment (NASDAQ: GDEN), and Eldorado Resorts, which is now Caesars Entertainment (NASDAQ: CZR).<\/p>\n

While those are bold comparisons, it\u2019s not out of the realm of possibility that Full House will one day be closer to those rivals in terms of size. American Place and Chamonix will figure prominently in that effort.<\/p>\n

With a significantly improved EBITDA and asset base following these two new openings, FLL should reach critical scale, gaining considerably more financial flexibility with greater operating synergies and more efficient access to capital. This will allow the company to continue its growth trajectory beyond these two projects,\u201d<\/strong> wrote CBRE\u2019s DeCree.<\/p><\/blockquote>\n

Regarding American Place, some analysts estimate the project could add $55 million to Full House\u2019s EBITDA, and as much as $4 to the operator\u2019s share price over the long term.<\/p>\n

New Full House Casinos Have Advantages<\/h2>\n

Both American Place and Chamonix have perks that could propel Full House\u2019s earnings power. The Illinois venue is located outside the Chicago suburbs in an area where casino penetration is relatively low. That indicates the operator could enjoy geographic benefits.<\/p>\n

\n

Chamonix could be a catalyst in its own right, not only because Colorado\u2019s gaming market<\/a> is rapidly growing, but also because the Full House property will be high-end — something currently lacking in Cripple Creek.<\/p>\n<\/div>\n

Prior to today, five analysts covered Full House, all with \u201cbuy\u201d or \u201cstrong buy\u201d ratings. The average price target on the shares was $12.20.<\/p>\n","protected":false},"excerpt":{"rendered":"

Full House Resorts (NASDAQ: FLL) could deliver earnings per share (EPS) growth this year, as the operator opens two new casinos to the public. That\u2019s the sentiment of CBRE analyst John DeCree, who restarted coverage of the regional casino company today with a \u201cbuy\u201d rating and a $14 price target. That implies upside of 64.7% […]<\/p>\n","protected":false},"author":46,"featured_media":253349,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,33810],"tags":[81897,81903,81898],"acf":[],"yoast_head":"\nNew Casinos Could Lift Full House Resorts Earninigs In 2023<\/title>\n<meta name=\"description\" content=\"Two new casinos could support 2023 earnings growth for Full House Resorts.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/new-casinos-could-lift-full-house-resorts-earninigs-in-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Casinos Could Lift Full House Resorts Earninigs In 2023\" \/>\n<meta property=\"og:description\" content=\"Two new casinos could support 2023 earnings growth for Full House Resorts.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/new-casinos-could-lift-full-house-resorts-earninigs-in-2023\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-12T20:01:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-12T20:18:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/CC-1024x576.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"576\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/new-casinos-could-lift-full-house-resorts-earninigs-in-2023\/\",\"url\":\"https:\/\/www.casino.org\/news\/new-casinos-could-lift-full-house-resorts-earninigs-in-2023\/\",\"name\":\"New Casinos Could Lift Full House Resorts Earninigs In 2023\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/new-casinos-could-lift-full-house-resorts-earninigs-in-2023\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/new-casinos-could-lift-full-house-resorts-earninigs-in-2023\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/CC.png\",\"datePublished\":\"2023-01-12T20:01:50+00:00\",\"dateModified\":\"2023-01-12T20:18:50+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Two new casinos could support 2023 earnings growth for Full House Resorts.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/new-casinos-could-lift-full-house-resorts-earninigs-in-2023\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/new-casinos-could-lift-full-house-resorts-earninigs-in-2023\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/new-casinos-could-lift-full-house-resorts-earninigs-in-2023\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/CC.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/01\/CC.png\",\"width\":2500,\"height\":1406,\"caption\":\"A rendering of Full House Resorts' Chamonix in Cripple Creek, Colo. 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