Full House Resorts has announced improved revenue and cash flow for the second quarter of 2026, successfully reducing its losses. The growth was primarily driven by American Place in Illinois and Chamonix in Colorado, both experiencing notable revenue increases.
The company reported a total revenue increase of 5.6%, reaching $78.1 million, alongside a cash flow surge of 19.5% to $13.3 million. In this quarter, Full House’s losses decreased to $8.7 million, compared to $10.4 million the previous year. Revenue at American Place saw a rise of 13.4%, with Chamonix not far behind at 11.7% growth.
“Our recent quarter showcased strong performance, primarily driven by our two newest properties,” stated President Lewis Fanger. In May, The Temporary at American Place generated $12.7 million, marking its best financial month, while July was noted as the second-best month.
The Midwest & South segment, which includes American Place, achieved a revenue growth of 5.6% to total $61 million, despite a significant 42-hour power outage at Rising Star located in Indiana. Meanwhile, the West Division, which includes Chamonix, saw a revenue rise of 7.3%.
“Our second-quarter outcomes underscore the robustness of American Place and the continuous improvement at Chamonix,” remarked CEO Dan Lee. “American Place set new all-time property records during the second quarter, marking a record high in revenue.”
Full House has received authorization to manage the transient Waukegan casino until February 2029. Fanger elaborated that the site would be transformed into trade-show and entertainment space over five years instead of being dismantled. Former casino executive Bill Richardson suggested, “Why are you tearing this down?” adding, “This could be excellent for a boat show.”
The planned permanent American Place, which is estimated to cost $302 million, has undergone a redesign. Guests will no longer have to traverse the casino floor to access dining areas, and the venue will open before reaching its full slot machine capacity. Lee explained that the design drew inspiration from Las Vegas’s Durango Resort, featuring a food hall and a compact back-of-house layout. “We didn’t clone it, but we have taken notes from it,” he noted.
Temporary American Place
Chamonix managed to break even during this quarter. Fanger reported that the win per gambling position per day was around half of the approximately $300 average seen in nearby Black Hawk, and just a quarter of what Monarch Black Hawk reported. Full House aims to elevate Chamonix’s performance to $175 per position daily within the next 18 months. In June, VIP guests represented the strongest segment of revenue.
Lee mentioned that Full House is fine-tuning Chamonix’s amenities and marketing strategies. “We are managing expenses. Revenue is growing, and we are also optimizing our marketing efforts.”
The Mexican dining establishment has been revamped and rebranded as Don Juan’s. This included the removal of slot machines from Chamonix’s speakeasy which has now been converted into a traditional bar. A dedicated seven-member sales and marketing team is targeting group and convention business for the years 2027 and 2028.
Additionally, Full House recruited a casino director with experience from Wynn and Fontainebleau in Las Vegas. Chamonix’s cash flow improved by $1.1 million year-over-year, with a slight loss in April offset by favorable results in May and June.
CEO Dan Lee
At Grand Lodge, renovation activities at the nearby Hyatt continue to impact revenue and are likely to affect operations until the latter half of 2027. Lee characterized the property as “akin to a beach resort on Lake Tahoe without a beach.”
Full House is currently addressing a debt refinancing initiative aimed at establishing a four-bank credit facility, with Lee conveying that the progress is steady despite extensive documentation. The company is not currently seeking additional casino acquisitions, even with competitors like Churchill Downs listing properties for sale.
Lee highlighted that Full House remains focused on enhancing Chamonix and American Place, steering clear of taking on another major undertaking. He indicated that any future acquisition could necessitate additional financing and debt, and considering equity at current valuations isn’t appealing. The company will maintain a selective approach toward potential assets, although Fanger noted their position might change in three years.