On Thursday, Full House Resorts announced a reduced quarterly loss for the three-month period ending September 30, 2025, thanks to strong performances at its American Place and Chamonix casinos, which counterbalanced setbacks related to property renovations and asset sales.

Revenue saw a 3% increase to $78 million, up from $75.7 million the previous year, fueled by continued growth at the company’s latest properties in Illinois and Colorado. Adjusted EBITDA surged by 26.1% to $14.8 million, and operating income rose dramatically by 40.3% to $3.4 million. The net loss for the company narrowed to $7.7 million, an improvement from $8.5 million in the third quarter of 2024.

“Both American Place and Chamonix excelled in the third quarter,” stated Daniel R. Lee, CEO of Full House Resorts. “American Place continues to achieve remarkable growth, setting new benchmarks for both revenue and profitability during the third quarter.”

American Place Casino in Waukegan, Illinois, experienced a 14% year-over-year revenue boost, reaching a historic $32 million, which drove a 7% increase in the company’s Midwest and South division to a total of $58.3 million. The casino’s customer base has expanded to over 115,000 members, and the Waukegan City Council granted unanimous approval for the construction of its permanent facility.

In Colorado, Chamonix Casino Hotel and Bronco Billy’s reported a significant recovery, with Adjusted Property EBITDA rising by $2.8 million to $2.1 million, marking a turnaround from a loss of $0.7 million the previous year. Operations in Colorado increased by 7.3%, supported by new management and the completion of all property amenities.

“With all of Chamonix’s amenities now open, we do not anticipate any significant increases in the property’s cost structure,” Lee added. “As revenues at Chamonix continue to rise, we expect significant flow-through to the bottom line.”

Lee remarked that the company is now focusing on “largely untapped” markets such as Colorado Springs and southern Denver, where only about 15% of households have visited Cripple Creek in the past year. “To enhance Chamonix’s attractiveness, we are concentrating on more targeted marketing efforts, bolstered our group sales team, expanded our entertainment options, and continue to utilize our extensive amenities,” he noted.

On the other hand, Full House’s West Division revenue decreased to $18 million from $19.4 million, due to the sale of Stockman’s Casino and renovation-related disruptions at Grand Lodge Casino on Lake Tahoe. Nevertheless, segment EBITDA soared by 167.9% to $3.2 million, including $2.1 million from Chamonix/Bronco Billy’s.

The company concluded the quarter with $30.9 million in cash, $450 million in debt, and $10 million remaining under its revolving credit facility.

Lee concluded by expressing optimism for ongoing growth from its two newest casinos as awareness increases and operations stabilize. “We are excited about the upcoming quarters and years, as the results from our Colorado and Illinois operations continue to enhance,” he stated.