GET DAILY SIGNALSFull House Resorts (FLL) Shows Revenue Growth but Wider Loss in Third Quarter
Key Takeaways
- Revenue rose 4.9% year over year to $81.8 million, topping the consensus estimate of roughly $81.1 million.
- Net loss widened to $8.6 million, or $(0.24) per diluted share, from $(0.21) per share a year earlier and below the consensus forecast of about $(0.17).
- Adjusted EBITDA slipped 1.6% to $14.6 million, as West segment softness offset strong Midwest & South growth.
- American Place again led the portfolio, helping the Midwest & South segment grow revenue 6.4% and Adjusted Segment EBITDA 18.0%.
Earnings Context and Why It Matters
Full House Resorts owns and operates regional casinos and hospitality assets, including American Place in Illinois and the Chamonix Casino Hotel in Colorado. Its third-quarter 2026 report arrives at an important time, as the company aims to turn property-level momentum into consistent profitability while handling renovation issues, seasonal factors, and financing tied to its permanent American Place project. For investors, these results provide an update on whether growth at newer properties can overcome the costs and interest expenses that have kept the company in the red. The print also offers insight into progress on a broader refinancing plan that sits at the center of the balance-sheet narrative.
Breaking Down the Reported Results
For the third quarter ended September 30, 2026, Full House Resorts reported total revenue of $81.8 million, up 4.9% from $78.0 million a year earlier and ahead of the roughly $81.1 million consensus estimate. Casino revenue rose 5.4% to $63.1 million, while food and beverage revenue grew 5.3% to $10.5 million and hotel revenue increased about 2% to $4.6 million.
Despite the top-line beat, the company posted a net loss of $8.6 million, or $(0.24) per diluted share, compared with a net loss of $7.7 million, or $(0.21) per share, in the prior-year period. The loss per share came in below the consensus forecast of approximately $(0.17). Operating income improved 28.6% to $4.4 million, but Adjusted EBITDA declined 1.6% to $14.6 million, reflecting pressure in the West segment. I also checked this using Tickeron’s AI Screener to see how the stock compares to others in the industry.
Management attributed the results to continued strength at American Place, offset by renovation-related disruption at Grand Lodge and nearby wildfires that affected Colorado visitation in July 2026.
Market Reaction and Investor Sentiment
The quarter's mix of a revenue beat and a wider per-share loss left investors weighing strong property-level momentum against persistent cost and interest pressures. American Place's continued record-setting trajectory and the Midwest & South segment's 18% Adjusted Segment EBITDA growth provided a clear bright spot, while the West segment's Adjusted EBITDA decline to $1.0 million from $3.2 million underscored lingering operational friction from renovations and the Colorado wildfires. Sentiment around the name also remains tied to the company's refinancing progress and the timing of its permanent American Place facility, which management expects to open roughly two years out.
Forward Outlook and Key Factors to Monitor
Looking ahead, investors will likely focus on several factors beyond the headline results. First is the company's financing plan. Management outlined a three-part structure that includes a new $100 million credit facility, $315 million of third-party funding for the permanent American Place casino on a delayed-draw basis, and a new bond issuance to replace existing notes. Execution on that refinancing remains a key catalyst and a source of uncertainty.
Second, cost efficiency at Chamonix and Bronco Billy's will be closely watched. Management highlighted initiatives in housekeeping, laundry, and restaurant operations designed to make the Colorado properties more profitable, with a stated goal of reaching $10 million to $20 million in EBITDA in 2027.
Finally, the trajectory of American Place and the Midwest & South segment will matter for near-term results, while progress on the permanent Illinois facility will shape the longer-term revenue and profit outlook. These dynamics should keep attention on segment-level EBITDA trends and the company's liquidity position in the quarters ahead. From what I see, monitoring these elements closely will help clarify the path forward.
Exploring AI Tools for Deeper Analysis
In my research on names like Full House Resorts, I often turn to Tickeron’s AI-powered tools to scan for patterns and compare setups across the gaming sector. One resource that stands out is the AI Screener, which lets users filter stocks and ETFs by technical patterns, fundamentals, trends, and performance metrics to surface ideas more efficiently than manual methods. It provides a structured way to monitor evolving opportunities and benchmark positions at a glance.
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Contributor
Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
FLL in +6.98% Uptrend, rising for three consecutive days on November 04, 2026
Moving higher for three straight days is viewed as a bullish sign. Keep an eye on this stock for future growth. Considering data from situations where FLL advanced for three days, in 179 of 241 cases, the price rose further within the following month. The odds of a continued upward trend are 74%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Moving Average Convergence Divergence (MACD) for FLL just turned positive on October 28, 2026. Looking at past instances where FLL's MACD turned positive, the stock continued to rise in 40 of 54 cases over the following month. The odds of a continued upward trend are 74%.
Bearish Trend Analysis
Following a 3-day decline, the stock is projected to fall further. Considering past instances where FLL declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 84%.
The Aroon Indicator for FLL entered a downward trend on November 04, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
The Tickeron PE Growth Rating for this company is 7 (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Valuation Rating of 13 (best 1 - 100 worst) indicates that the company is seriously undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (-1.992) is normal, around the industry mean (14.889). P/E Ratio (-0.710) is within average values for comparable stocks, (53.682). Projected Growth (PEG Ratio) (0.130) is also within normal values, averaging (0.784). Dividend Yield (0.000) settles around the average of (0.021) among similar stocks. P/S Ratio (0.204) is also within normal values, averaging (1.049).
The Tickeron Seasonality Score of 85 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Price Growth Rating for this company is 95 (best 1 - 100 worst), indicating slightly worse than average price growth. FLL’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is 100 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is 100 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. FLL’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 91, placing this stock worse than average.
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an operator of gaming related enterprises
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