Losses widen at Full House Resorts in first half

7 August 2020

US casino operator Full House Resorts has put a year-on-year increase in net loss for the first half of 2020 primarily down to the temporary closure of its brick-and-mortar properties due to the novel coronavirus (Covid-19) pandemic.

Net revenue in the six months to June 30 totaled $45.4m (£34.7m/€38.4m), a drop of 44.8% from $82.2m in the same period last year.

Full House closed its casinos in Mississippi, Indiana, Nevada and Colorado in the middle of March. The first site – Silver Slipper Casino and Hotel in Mississippi – did not reopen until 21 May, while the others followed in the first few weeks of June.

This period of closure meant casino income took a significant hit, with revenue from casino operations dropping 44.1% to $31.7m. Food and beverage revenue also fell 48.6% to $9.0m, while hotel revenue was down 53.5% to $2.7m and other revenue – including online sports betting – slipped 4.8% to $2.0m.

Read the full story on iGB North America.