Improving results at American Place and Chamonix casinos push Full House to 7.3 per cent increase
The continued ramp-up of operations at Full House Resorts’ two newest properties, American Place Casino and Chamonix Casino Hotel helped drive first quarter revenue up by 7.3 per cent to $75.1m.
Adjusted EBITDA was $11.5m in the first quarter of 2025, reflecting growth at American Place and operational improvements at Silver Slipper, offset by elevated costs at Chamonix as its operations continue to ramp. In the prior-year period, Adjusted EBITDA was $12.4m.
“Our three largest properties – American Place, Silver Slipper, and Chamonix – all made meaningful strides during the first quarter,” said Daniel R. Lee, President and Chief Executive Officer of Full House Resorts. “At American Place, we are pleased with the strong continued ramp of our temporary facility. In March 2025, for example, we not only crossed $10 million of monthly gaming revenue for the first time, but we nearly reached $11 million. Our player database continues to expand at an impressive pace, recently surpassing 100,000 members.
“These milestones underscore American Place’s continuing momentum, as well as its strategic location in a highly attractive and underserved market. Chicago’s northern suburbs have long lacked a premium gaming and entertainment destination, and we believe the luxurious amenities of our planned permanent casino will fill that gap. We anticipate a significant uplift in performance when we transition from the temporary American Place facility to the permanent casino, similar to the results that have been reported in Rockford and other cities after temporary casinos transition into their permanent facilities.
“At Silver Slipper, a new leadership team has helped reinvigorate that property’s operations. Led by operational improvements, operating income improved by $0.6 million despite a $0.7 million decline in revenues. We recently refreshed a large portion of the Silver Slipper’s slot floor, which we believe will further benefit the property’s financial results in the second half of the year.
“We’ve also made numerous management changes in Colorado, where our Chamonix/Bronco Billy’s gaming complex continues to see strong growth in revenues and new player sign-ups. Revenues grew 33.9% year-over-year. Expenses also grew at a large percentage, as we incurred the costs of operating the entire facility, versus the partial operations of the year-ago period. We have increased our focus on cost efficiencies, while continuing to maintain growth, in order to drive profitability. As part of this focus, we welcomed Brandon Lenssen as Chamonix’s new general manager in mid-March. Despite his short tenure, Brandon and his team have already identified several million dollars of annual cost savings that will help Chamonix deliver stronger bottom-line results. Combined with new and enhanced marketing efforts, we expect positive results from our Colorado operations as we move into the seasonally-important spring and summer seasons.”
