Bragg Gaming Group

Holly Gagnon and Alex Spiro have been appointed to the Bragg Gaming Group board of directors, with the group lauding the addition of ‘specialist expertise’.

Gagnon is an experienced gaming industry CEO with over 29 years’ in the industry, and has held senior positions at the likes of Seneca Gaming Corporation, Caesars Entertainment Corporation, MGM Resorts International, and Harrah’s Entertainment.

Spiro, a former prosecutor and the former coordinator of a program for children with autism at McLean Hospital, Harvard Medical School’s psychiatric facility, is a litigator and investor and serves as chair of Glassbridge Enterprises.

“We’re extremely pleased that Holly and Alex have agreed to contribute their expertise to the Bragg board,” said Paul Godfrey, chair of the board at Bragg Gaming Group.

“Holly’s extensive experience in the North American gaming sector will be invaluable as we expand our footprint in the US, and Alex brings exceptional analytical and business leadership skills to the team. Their areas of expertise are strong complements to our current board.”

Full House Resorts

A series of management promotions have been outlined by Full House Resorts, with Angelika Truebner-Webb, the current executive director of finance of administration at Indiana’s Rising Star Casino Resort, to be elevated to the role of general manager, pending customary gaming approvals.

Furthermore, the same property is to also see James McCracken promoted to assistant general manager, as well as Ashlee Wilkerson to director of human resources.

Elsewhere, in the group’s Nevada segment, which consists of Grand Lodge Casino in Incline Village and Stockman’s Casino in Fallon, Cyndy Carter formerly director of finance, is to become assistant general manager.

“I am pleased to announce these recent promotions from within our internal ranks,” stated Daniel Lee, president and CEO of Full House Resorts. “Angi, Cyndy, Jim, and Ashlee have done great jobs in helping our company grow to new heights. We look forward to their continued contributions in their new leadership roles.”

Crown Resorts

Steve McCann is to become chief executive officer and managing director of Crown Resorts, subject to the receipt of probity and regulatory approvals.

McCann, currently CEO of real estate and investment group Lendlease Corporation, a role he has held for more than a decade, last year delayed his planned retirement to lead the group’s response to the COVID-19 pandemic, and will retire from the board on May 31 2021.

He will join from June 1, 2021, with Helen Coonan to continue to perform her executive responsibilities as interim executive chairman until approvals have been received, in order to ensure a smooth transition.

Coonan said: “Steve is a first-class appointment for Crown and the right person to embed the ongoing reforms necessary to restore regulatory and public confidence in our operations.

“Recognised as one of Australia’s most respected business leaders, Steve has a unique blend of strategic, financial and corporate governance expertise and a track record of building strong employee engagement and driving cultural change.

“During a comprehensive recruitment process, Steve was the clear choice from a quality
field of prospective candidates. The board was looking for a CEO firmly committed to building on the momentum for change within our business and Steve is ideally placed to hit the ground running as our sweeping reform program takes hold.”

Alliance for Gambling Reform

The board of the Alliance for Gambling Reform has announced the appointment of Gordon Ramsay as the organisation’s new CEO.

Gordon brings a wealth of experience to the role, most recently as the ACT attorney-general from 2016-2020. While in government, Ramsay is lauded as championing a gambling reform agenda in the ACT, resulting in a more than 20 per cent reduction in poker machines, and substantial regulatory improvements that have laid the pathway for ongoing reform.

Sharon Dickson, board chair, explained: “Gordon brings a wealth of experience that will further the Alliance’s work with our partners and community to reduce gambling harm, which is one of the most pressing public health issues we face as Australians.

“Gordon has a unique combination of experience in social justice and advocacy, as CEO in a services-based organisation, working with people with lived experience, and in gambling reform in the political arena. I’m excited about the change we will achieve with Gordon leading the organisation.

“I’d like to take this opportunity to thank Tony Mohr for his contributions as the inaugural leader of the Alliance. His work and that of the Alliance’s staff has created a solid foundation for Gordon to build on. It’s exciting times ahead.”

The post Part 69 | On the move: recruitment round-up appeared first on CasinoBeats.

Enlabs

Enlabs has announced the promotion of Jelena Nisa to group chief financial officer, after successfully leading the accounting and reporting functions in the position of group head of accounting since joining the firm in 2016.

Nisa, who is based in Riga, Latvia, boasts 20 years of working experience in the financial industry and holds a bachelor’s degree in economics and accounting and a master’s degree in History from University of Latvia.

“The new appointment is a logical continuation of Jelena’s professional career. She brings high financial competence, strong analytical and organizational skills and exceptional attention to detail. I welcome Jelena to the senior management team and look forward to achieving new heights”, commented George Ustinov, CEO of Enlabs.

Pronet Gaming

Anthony Murphy has been selected as the new head of commercial account management at Pronet Gaming, bringing with him more than 13 years of experience in the betting and gaming industry.

In the new role, Murphy will be tasked with driving business revenues for Pronet Gaming’s new and existing clients, primarily focusing on establishing long standing relationships.

Bobby Longhurst, chief commercial officer at Pronet Gaming, stated: “Anthony has an incredible track record of establishing strong client relationships and helping deliver business growth with excellent account management.

“He will play a key role in ensuring our partners maximise the benefits they gain from our platform, with the tailored approach to partnerships and proactive consultancy that we’re now known for.”

Conscious Gaming

Responsible gaming firm Conscious Gaming, part of GeoComply, has appointed Seth Palansky as its new vice president of corporate social responsibility and communications. He joins the firm after more than 17 years with Caesars Entertainment and the National Football League.

In his new role, Palansky will spearhead corporate social responsibility and communications efforts for the philanthropic organisation, which is committed to utilising advanced technology to propel social responsibility initiatives.

Anna Sainsbury, Conscious Gaming trustee and GeoComply chairman and co-founder, said: “We believe the benefits of offering a technology-driven self exclusion tool are critical for our industry to ensure we protect all stakeholders.

“We are excited to have Seth join us to front our adoption efforts and work with the industry to deliver Conscious Gaming’s state of the art solution to help simplify, streamline and stay ahead of a complex issue.”

Singular

Online casino platform provider Singular has strengthened its team after naming Phillip Pistauer as its new head of account management.

Pistauer’s appointment forms a part of Singular’s strategic enhancement of its customer relationship management division, with his role expected to deliver ‘a bespoke approach tailored to each client’.

Based in the firm’s Malta office, Pistauer will take responsibility for coordinating with existing clients and new acquisitions to build a ‘proactive service that will help both the company and its partners to reach new heights’.

Robert Dowling, Singular chief commercial officer, added: “I am more than pleased to have Phillip join our team and boost the strategic direction of Singular in serving our global tier one clients and assist their entry into newly regulated markets. The account management team will play a crucial role in this process, and I believe Phillip is the right person to take the lead.”

Full House Resorts

Full House Resorts has bolstered its board of directors via the appointment of Michael Hartmeier, who boasts 25 years experience as an investment banker and over $125m in financing and advisory assignments completed.

Hartmeier is the former group head of lodging, gaming and leisure investment banking at Barclays, as well as group head positions in hospitality and gaming for Lehman Brothers and Credit Suisse First Boston.

“We have appreciated Mike’s thoughtful advice on the capital markets for many years,” said Daniel Lee, president and chief CEO of Full House Resorts. “His 25 years of investment banking experience and overall business knowledge will be valuable additions to our company’s board of directors.”

The post Part 50 | On the move: Recruitment round-up appeared first on CasinoBeats.

The former, which opened earlier in the year, is a precursor to the larger $400m American Place that is slated to debut in less than two years.

The $100m site has witnessed a continued uplift in performance, with revenue and adjusted EBITDA reaching $23.9m and $6.8m during the third quarter, up from the $20.3m and $4.1m delivered through Q2.

Daniel Lee, President and Chief Executive Officer of Full House Resorts, said. “Our table games business at The Temporary was strong initially, and continued to build as we hired more dealers and increased the number of available table games. 

“Our slots business also continues to ramp up, aided by our guest database that continues to grow meaningfully in size with every passing week.”

As the property’s final addition looks to be added during the fourth quarter, construction continues on the company’s Colorado-based Chamonix Casino Hotel, which is expected to swing open its doors for the first time on Boxing Day.

“Workers are currently installing furniture throughout the hotel. Within the casino, we are about to begin installation of slot bases, followed by the final placement of slot machines throughout November and early December,” Lee continued. 

“In our convention space, we recently installed chandeliers in the main ballroom and are preparing to install furniture. We are excited to welcome guests to Chamonix – designed to be the best casino in the state of Colorado – in less than two months.”

These updates came during a third quarter performance breakdown, with revenue up 72.8 per cent to $71.5m (2022: $41.4m), which includes February 2023’s The Temporary debut and $5.8m from a pair of sports betting agreements that have since ceases.

Net loss of $3.6m through Q3 2022 has swung to income of $4.6m, which includes $1.1m of pre-opening and development costs related to the Chamonix construction project, and significant depreciation and amortisation charges related to The Temporary. Adjusted EBITDA was $20.6m (2022: $7.8m).

Delving into these figures a little further, the group’s midwest and south division, which includes Silver Slipper Casino and Hotel, Rising Star Casino Resort, and Waukegan, Illinois’, The Temporary, saw revenue and AEBITDA increase 77.4 per cent and 110.6 per cent to $52.6m (2022: $29.6m) and $11.8m (2022: $5.6m).

The company’s West segment, comprising Grand Lodge Casino (located within the Hyatt Regency Lake Tahoe), Stockman’s Casino and Bronco Billy’s Casino and Hotel, saw revenue rise slightly to $11.1m (2022: $10.7m). Adjusted EBITDA remained consistent at $2.3m.

Contracted sports wagering revenues and adjusted segment EBITDA were both $7.9m, which benefitted from the aforementioned agreements that have now ended.

Regarding the firm’s future plans within this segment, Full House noted: “The company is currently permitted to operate three sports skins in Colorado, three in Indiana, and one in Illinois. Of such permitted skins, two sports skins are currently live in Colorado, one in Indiana, and one in Illinois. 

“Under our agreements with various third parties to operate such skins, we receive a percentage of revenues, as defined in the contracts, subject to an annualised minimum amount that currently totals $8m. 

“We continue to evaluate whether to operate our remaining idle skins ourselves or to have other third parties operate them. However, there is no certainty that we will be able to enter into agreements with replacement operators or successfully operate the skins ourselves.”

The post Development projects breathe confidence into Full House Resorts appeared first on CasinoBeats.

Following a fifth full month of operation, Daniel Lee, President and CEO, said that trends “are similar to those of many other successful casinos”, with visitor numbers growing steadily following an initial surge and subsequent lull. 

Despite ranking sixth out of the 13 casinos in operation in Illinois during July, Lee noted that costs are expected to stabilise, which, it is hoped, will lead to a heightened performance by the establishment.

“Our expenses relative to revenues have been higher than we expect them to be at ‘maturity,’ reflecting primarily our costs to train new personnel, especially dealers, and additional advertising and marketing costs,” he commented. 

“We currently have 48 table games on the casino floor, of our planned 50 tables. Due to staffing challenges, however, we are currently operating only approximately 30 of those tables on a typical weekend evening. 

“The shortage of dealers also affects the number of tables that we operate in non-peak periods. We continue to operate our own dealer school, where potential dealers are paid during their several weeks of training, which affects margins and profitability, but is necessary to reach the property’s potential. 

“Our marketing expenses are also expected to gradually become more efficient over time”

“Our marketing expenses are also expected to gradually become more efficient over time, as we build a database and achieve broader brand recognition.”

Table game limits, which have been set internally as of May 13, currently stand at $5,000 per hand, but could increase further as staff gain greater experience. 

Furthermore, a retail sportsbook entity, in association with Circa Sports, is expected to open shortly, with an online component also expected to begin “soon”. A first payment under the agreement due in mid-August.

The update came during a second quarter performance breakdown, with revenue up 33.8 per cent to $59.4m (2022: $44.4m), while net loss swelled to $5.6m (2022: $4.35m).

A total of $1.1m in pre-opening and development costs related to the group’s Chamonix development (discussed below), as well as “significant depreciation and amortisation charges related to The Temporary”, are cited for this increase.

Adjusted EBITDA stood at $10.5m through the second quarter, this comes in contract to the $12.1m reported one year earlier due to the factors detailed above, as well as elevated marketing, training expenses, and other ramp-up costs for the newly-opened Temporary.

Delving into these figures, the group’s midwest and south division, which includes Silver Slipper Casino and Hotel, Rising Star Casino Resort, and Waukegan, Illinois’, The Temporary, saw revenue and AEBITDA increase 51.5 per cent and 2.6 per cent to $49.9m (2022: $32.9m) and $9.4m (2022: $9.1m).

This is reflected by the much detailed debut of the Temporary, which itself contributed $20.3m and $4.1m of the aforementioned financial segments. 

The company’s West segment, comprising Grand Lodge Casino (located within the Hyatt Regency Lake Tahoe), Stockman’s Casino and Bronco Billy’s Casino and Hotel, saw revenue drop to $8.1m (2022: $9.3m).

“It will be the first luxury casino hotel in the Colorado Springs area”

Adjusted EBITDA followed suit after closing at $200,000 (2022: $1.7m), with this aligned to construction costs associated with Chamonix and heavy winter snowfall in the Lake Tahoe region that is said to have delayed the return of seasonal residents.

Contracted sports wagering slid from $2.2m one year ago to $1.4m during the current year’s first quarter, which reflects an acceleration of deferred revenue for two agreements that ceased operations in May 2022. This occurred when one of the company’s contracted parties ended its online operations.

For the year-to-date, revenue increased 27.59 per cent to $109.48m (2022: $85.8), net loss swelled to $17m (2022: $4.24m) and AEBITDA stayed relatively stable at $20.63m (2022: $20.48m).

To close, Lee touched on the company’s Colorado-based Chamonix Casino Hotel, which is expected to swing open its doors for the first time on Boxing Day.

“At our Chamonix project in Cripple Creek, Colorado, meaningful construction continues, with exteriors now largely complete,” he concluded.

“Within the main hotel tower, our contractor is completing guest rooms and we anticipate beginning the installation of furniture shortly. The extensive millwork in the casino and high-end restaurant is also underway. We expect to begin taking hotel reservations for Chamonix at www.ChamonixCO.com shortly. 

“We look forward to welcoming guests to our Chamonix Casino Hotel on December 26, 2023. It will be the first luxury casino hotel in the Colorado Springs area, and we believe it will be one of the best casino hotels in the entire midwest.”

The post Full House expecting bumper Illinois performance as expenses mature appeared first on CasinoBeats.

The former held a soft opening on February 17, with 24-hour casino operations on weekends, as well as the removal of all restrictions on table game limits and operating hours, expected to commence in three days time.

“We expect to complete our opening of The Temporary with the addition of 22 more table games by June, followed by the opening of our fine-dining restaurant and an on-site sportsbook. In contrast, we have generally operated only 28 table games since opening,” said Daniel Lee, President and Chief Executive Officer.

Elsewhere, Chamonix, which is expected to deliver “a new level of elegance and comfort,” is expected to swing open its doors for the first time on December 26, 2023. 

“On that day, we expect to open with a near-complete experience, with all three of our hotel towers, our new casino, fine dining restaurant, and parking garage,” he noted.

“We look forward to welcoming our first guests to what we believe will be the most unique casino destination in Colorado.”

This came as the operator disclosed revenue for the first quarter of $50.1m, which represents a 21 per cent uptick from the $41.4m reported during the past year.

The Midwest and south division, which includes Silver Slipper Casino and Hotel, Rising Star Casino Resort, and Waukegan, Illinois’, The Temporary, contributed $40.8m, up 36.2 per cent from $29.9m.

In addition, the company’s West segment, comprising Grand Lodge Casino (located within the Hyatt Regency Lake Tahoe), Stockman’s Casino and Bronco Billy’s Casino and Hotel, dropped to $8.1m (2022: $8.6m).

It is said that significant snowfall near Lake Tahoe and in Colorado adversely impacted guest traffic at the Grand Lodge and Bronco Billy’s properties.

Contracted sports wagering slid from $2.8m one year ago to $1.2m during the current year’s first quarter, which reflects an acceleration of deferred revenue for two agreements that ceased operations in May 2022. This occurred when one of the company’s contracted parties ended its online operations.

Net loss during the quarter fell to $11.4m from income of $110,000 one year earlier, with Full House citing $10.5 in pre-opening and development costs related to the aforementioned fair of projects. Adjusted EBITDA increased 20.6 per cent year-on-year to $10.1m (2022: $8.4m).

“This was a transformational quarter for our company, with the first phase of our American Place project now open and already contributing meaningfully to our financial results,” added Lee. 

“In its first 1.5 months of operations, The Temporary by American Place generated $10.4m of revenue and $3.6m of adjusted property EBITDA, resulting in an adjusted property EBITDA margin of 34.3 per cent. 

“Its marketing database currently consists of approximately 25,000 people and continues to grow steadily. As The Temporary’s database continues to expand and its remaining amenities come online, we expect continued growth in the property’s revenue and profit contributions.”

The post Full House hails ‘transformational’ quarter ahead of Chamonix opening appeared first on CasinoBeats.

Following the recent opening of the group’s The Temporary by American Place in Illinois, and improvement work in Colorado, the casino operator saw revenue through the past year’s final quarter drop 16.62 per cent to $36.1m (2021: $43.3m).

This came via a significant drop in the group’s casino sub-segment to $25.58m (2021: $31.21m), with fellow decreases witnessed across food and beverage, hotel and other (included contracted sports wagering) to $6.23m (2021: $6.71m), $2.2m (2021: $2.43m) and $2m (2021: $2.9m).

On a state-by-state basis, Mississippi revenue declined 18.22 per cent to $18.4m (2021: $22.5m). This, said Full House, was “ adversely affected by the competitive launch of online sports wagering within nearby Louisiana that started in January 2022, colder than normal temperatures, and significant marketing promotions at a nearby competitor”.

In Indiana, as a result of additional competition in northern Kentucky and “significant snowstorms”, the Rising Star Casino Resort felt a slight Q4 revenue drop to $9m (2021: $9.7m).

Despite Bronco Billy’s Casino and Hotel having “shown significant growth since betting limits were eliminated in May 2021,” construction affected the group’s performance throughout the year, with fourth quarter revenue down 30 per cent to $3.5m (2021: $5m).

Daniel Lee, President and CEO of Full House Resorts, said of the ongoing work in the region: “At our Chamonix project in Cripple Creek, Colorado, we continue to make substantial progress. Drywall is being installed in guest rooms and the public areas. 

“We recently installed the escalators from the entry level up to the second-floor meeting space, and are preparing for the installation of elevators. We continue to target an opening of Chamonix later this year, potentially with a phased opening beginning in the third quarter of 2023.”

Elsewhere, reflecting a “significant snowstorm” in the Lake Tahoe region, Nevada revenue dropped fractionally to $4.1m (2021: $4.3m).

The fourth quarter also saw net loss hit $7m versus income of $5m one year earlier, while a seasonally slower three month period more than halved adjusted EBITDA to $3.9m (2021: $7.9m).

The company said: “The change reflects adverse weather in December 2022; construction disruptions at Bronco Billy’s; the launch of competing online sports wagering in Louisiana; and increases in certain expenses, notably for property insurance and food costs.”

For the full-year, revenue dropped 9.36 per cent to $163.28m (2021: $180.15m), with Nevada the only geographical reporting segment to buck a trend of financial drops through the year.

Net loss swung to $14.8m from the income of 11.7m recorded one year earlier, while AEBITDA dropped 46.92 per cent to $32.13m (2021: $47.21m).

To close, Lee looked back on February’s The Temporary grand opening, and an uptick to felt across the coming weeks.

“We are very pleased with the positive response received from guests thus far, with many commenting that The Temporary is one of the nicest casinos in the area, despite being in a temporary structure. In its first twelve days of operation, we welcomed more than 40,000 guests through its doors,” he stated.

“Typical of many new casinos, we opened at less than full capacity. On opening night, for example, only approximately 80 per cent of our slot floor and 60 per cent of our permitted table games were available. 

“Over the coming weeks, we expect to further augment the number of available games on our floor and increase the hours of operation for our table games, which currently operate from 2pm to 2am. As our team gains more experience, we also expect to operate the casino 24 hours per day, versus our current schedule of 8am to 4 am.”

The post Adverse weather & construction project hamper Full House Resorts appeared first on CasinoBeats.

This will see the casino operator’s The Temporary at American Place, which officially swung open its doors during February, become the latest venue in the Full House network to utilise the offering.  

As a result of the launch, guests of the facility will have the opportunity to access a variety of loyalty rewards, such as random drawings, tournament opportunities and floor-wide progressive bonuses, personalised according to entertainment preference and spend. Rewards can also be earned for non-gaming activity.

In addition to launching Synkros’ full marketing suite, The Temporary at American Place is also set to perform as a beta site for the launch of Oracle Analytics.

As a result of this latest integration, Full House has ensured that its entire portfolio is now powered by Synkros, which the group has utilised since 2006.

“Full House Resorts brings an innovative approach to every casino destination it operates, and American Place is the latest world class casino set to entertain guests with a one-of-a-kind experience,” stated Tom Jingoli, Executive Vice President and Chief Operating Officer at Konami Gaming. 

“With Synkros’ agile system architecture, robust integrations, and flexible marketing tools, we’re thrilled to flexibly support a diverse spectrum of goals and objectives across the organisation’s growing portfolio of properties.” 

A precursor to the larger $400m American Place that is slated to debut in two years, the temporary venue officially made its debut on Friday 17 February 2023.

The $100m site is the only casino in Lake County, Illinois, features approximately 1,000 slot machines and 50 table games, complemented by an array of food and beverage outlets.

“With Synkros at the core of The Temporary at American Place, our guests can immediately begin to connect with tailored rewards, offers, and communications across the site,” commented Daniel Lee, President and Chief Executive Officer of Full House Resorts. 

“When the permanent American Place casino makes its debut, the earned rewards and relationships will move seamlessly to the new facility, with even more entertainment opportunities.”

The post Full House expands Konami Gaming CMS installations to The Temporary appeared first on CasinoBeats.

The venue, a precursor to the larger $400m American Place that is slated to debut in two years, will host a private VIP reception from 5pm local time, before the public will be welcomed through the doors three hours later.

The $100m Temporary by American Place is the only casino in Lake County, Illinois, with the venue featuring approximately 1,000 slot machines and 50 table games in the gaming establishment.

These options are complemented by an array of food and beverage outlets, while projection mapping equipment will transform The Temporary’s exterior into a large-scale art display at night.

“We thank the Illinois Gaming Board and its staff for their assistance throughout The Temporary’s construction and preparation,” said Daniel Lee, President and Chief Executive Officer of Full House Resorts. 

“I also want to thank our own team of approximately 500 founding employees, who have worked diligently to prepare us for this exciting moment. We are eager to welcome Chicagoland residents to The Temporary beginning on February 17.”

The permanent $400m American Place casino is anticipated to open by late 2025, within three years of the opening of The Temporary.

The post Full House Resorts to open the Temporary by American Place appeared first on CasinoBeats.

“We continue to make progress on our two new casinos, with the first of them on the verge of opening,” noted Daniel Lee, group President and CEO, with the anticipated investment in the pair expected to remain within budgets.

As previously suggested, in the Prairie State Full House is poised to open The Temporary, a precursor to the larger $400m American Place that is slated to debut in three years.

The stand-in property, which is expected to cost in the neighbourhood of $100m, is to become accessible to customers in the next three months, with a precise date still uncertain, with preparation for installation of slot machines currently ongoing. 

“We expect to have our entire slot floor installed and ready for testing before the end of November,” Lee noted 

“The testing of the slot machines, surveillance systems and other technology is a complicated process. Imagine connecting 1,000 slot machines, from several different manufacturers, through many miles of low-voltage wiring to central servers — and ensuring that every machine operates flawlessly. This process usually takes several weeks and is the principal uncertainty in our opening date.” 

Elsewhere, Cripple Creek, Colorado’s Chamonix project is progressing “at a meaningful pace” following a “topping off milestone” in September, with an anticipated opening of mid-2023 still stipulated by the casino and entertainment operator.

“When complete, Chamonix will be one of the larger casino hotels in Colorado and the largest and most luxurious casino hotel in Cripple Creek, which is the primary casino destination for the Colorado Springs market,” Lee continued.

Lewis Fanger, the Company’s Chief Financial Officer, added: “Our anticipated investments in both of these growth projects remain within budgets.

“Importantly in these difficult capital markets, we remain confident that our cash balances, cash flows from operations, and credit line availability will be sufficient to complete both The Temporary and Chamonix.” 

This came as Full House reported a 12.28 per cent revenue drop through the third quarter to $47.2m (2021: $41.4m), driven by decreases across most key geographical segments.

Mississippi, Indiana, Colorado and contracted sports wagering all saw revenue decline to $19.98m (2021: $21.53m), $9.63m (2021: $12.58m), $4.38m (2021: $6.34m) and $1m (2021: $1.64m), respectively. Nevada bucked the trend courtesy of a 22.54 per cent uptick to $6.29m (2021: $5.13m).

Net loss for the quarter, which is said to have included $2.4m of pre-opening and development costs, grew to $3.6m. In the prior-year period, net income was $4.6m, including $335,000 of pre-opening and development costs

Furthermore, adjusted EBITDA also suffered through the third quarter after slipping 42.64 per cent from the past year’s $13.6m to $7.8m during 2022.

The company noted: “The change reflects timing differences for Rising Star’s $2.1m sale of ‘free play’ (which occurred in the third quarter of the prior year, but in the second quarter of 2022); the wide distribution of government stimulus checks in the prior year; construction disruptions at Bronco Billy’s; the launch of competing online sports wagering in Louisiana; and increases in certain expenses, notably for property insurance and food costs.”

The post Full House Resorts looking for casino projects to help buck Q3 struggles appeared first on CasinoBeats.

The topping off ceremony, expected to take place on September 21, 2022, will commemorate the placement of a construction beam at the highest point of the construction project, which comes ahead of an anticipated opening during mid-2022.

Located adjacent to the company’s existing Bronco Billy’s Casino, Chamonix will feature approximately 300 four-star guest rooms and VIP suites; casino gaming area; meeting and convention space; rooftop heated pool; spa; parking garage that can accommodate more than 300 vehicles; spa and beauty salon; and a fine-dining restaurant

Speaking last month upon publication of the group’s Q2 performance report, Lewis Fanger, Chief Financial Officer of Full House, noted: “The construction cost of Chamonix is still estimated to be within its budget of $250m, including contingencies.

“This does not include refurbishment of the adjoining, existing Bronco Billy’s casino. We are currently doing a light remodel of certain portions of Bronco Billy’s, estimated to cost approximately $2m. While we have plans for a more extensive refurbishment of Bronco Billy’s, we have decided to defer such a potential project until after the opening of Chamonix.”

As noted, the adjoining Bronco Billy’s Casino, which will continue to offer its Western theme and be connected to the adjoining Chamonix, is also being renovated.

Initial renovations are now said to be underway and scheduled for completion by the end of the current year, following which the two casinos will be linked and share a common frequent player system. Points earned at Bronco Billy’s will be redeemable at Chamonix when it opens.

The post Full House progresses Chamonix Casino construction with topping off appeared first on CasinoBeats.