This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Full House Resorts Announces Three And Nine Months Results For The Period Ended September 30, 2011

Full House reported third quarter net loss attributable to the Company per common share of $0.06 for the three months ended September 30, 2011, as compared to $0.12 for the three months ended September 30, 2011. Exclusive of the aforementioned charges, net income per common share in the third quarter 2011 would have been $0.11.

Nine Month 2011 Results

For the nine months ended September 30, 2011, Full House reported casino, food and beverage, hotel and other revenue of $54.6 million, compared to revenue of $6.3 million in the prior-year period, primarily due to the addition of the Rising Star Casino Resort during the second quarter of 2011. In addition during the nine months ended September 30, 2011, Full House recorded GEM management fees of $18.3 million for FireKeepers Casino, compared to management fees of $18.7 million for the prior-year period.

The Company recorded equity in net income and related guaranteed payments from the Delaware operation of $3.3 million, a 9% decrease from the prior-year period, as the agreement between the Company and Harrington Raceway, Inc. terminated at the end of August 2011.

Operating expenses for the nine months ended September 30, 2011 were $57.1 million compared to $10.8 million in the prior-year period, primarily due to the addition of the Rising Star Casino Resort. The Company also recorded $0.4 million of stock compensation expense for the nine-month period ended September 30, 2011, compared to approximately $17,000 in the nine months ended September 30, 2010.

Operating income for the nine months ended September 30, 2011 was $14.2 million, compared to operating income of $17.8 million in the prior-year period. Absent $5.7 million in impairment and one-time charges, operating income for the nine months ended September 30, 2011 would have been $19.9 million. EBITDA was $16.0 million versus $11.3 million in the prior-year period.

3 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,374.76 +23.38 0.14%
S&P 500 1,951.13 +2.27 0.12%
NASDAQ 4,733.4970 -16.4820 -0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs