Full House Resorts sees steady increase despite sale of Stockman’s Casino in April
As the year progressed, the rate of growth in Full House’s operating profits accelerated
Full House Resorts, whose casinos span Illinois, Mississippi, Colarado, Nevada and Indiana, generated revenues in the fourth quarter of 2025 of $75.4m, marking an increase of 3.4 per cent, reflecting strong growth at American Place Casino and the continuing ramp-up of operations at Chamonix Casino Hotel, partially offset by the sale of Stockman’s Casino in April 2025. Excluding Stockman’s, revenues increased by 5.6 per cent.
For the full year, revenues in 2025 were $302.4m, a 3.5 per cent increase from $292.1m in the prior year.
“We had another strong quarter of growth at American Place, which currently operates in a temporary facility,” said Daniel R. Lee, Chief Executive Officer of Full House Resorts. “As the year progressed, the rate of growth in its operating profits accelerated, highlighting the growing awareness of our brand and the relative undersaturation of gaming in the northern Chicago market. Such performance reinforces our confidence in the long-term potential for American Place.
“We continue to make meaningful progress toward construction of the permanent American Place facility. In September 2025, the Waukegan City Council unanimously approved our revised site plans. Our architects are also nearing completion of working drawings for the building’s foundation. With these drawings, we will seek building permits and begin construction, anticipated in March or April 2026. Foundation work, while not cost intensive, requires several months to complete. By starting construction now, funding it with internal sources, we believe we can accelerate the opening of the permanent casino, anticipated in approximately 18 to 24 months.
“A bill was also recently introduced in the Illinois legislature to extend the date that our temporary American Place casino is permitted to operate by 18 months beyond August 2027. This bill, if passed, will ensure that there will be no gap in tax revenue or employment prior to the opening of our permanent casino facility. We received a similar extension in 2023 when our project was delayed due to a lawsuit from a competitor. Such lawsuit was resolved in January 2025.”
Continued Mr. Lee, “Our Colorado operations also delivered strong improvements in the fourth quarter. The fourth quarter is a seasonally slow quarter in this market. Revenues were up in the quarter and expenses declined, resulting in a significantly smaller loss in the quarter than in the same quarter of the prior year. We recently hired a new finance director and an assistant general manager, and promoted a talented chef to be the food and beverage director, filling out a largely-new management team. We reinvigorated Chamonix’s brand awareness, launching more targeted advertising efforts in the fourth quarter of 2025. Our group sales department, while still a relatively new team, is making meaningful strides at booking future business. Then, in January and February, we installed new carpet and ceilings in much of the adjoining Bronco Billy’s Casino, which now offers a gaming experience that better complements Chamonix. In anticipation of the seasonally-stronger season that we are moving into, we recently reopened the Mexican restaurant in Bronco Billy’s with an entirely new menu of fresh and innovative Mexican cuisine. We expect our Colorado operations to contribute significantly to our income in 2026 and beyond.”
