The first-quarter results for 2021 of Full House Resorts show an increase of 36.8% over the year. It also reported an increase in total revenues to 42.2 million dollars.
The company’s net losses also slightly improved, from $ 4.4 million to $ 3.4 million to $ 8.7 million when it lost 3.4 million a year before the operator’s operating income.
Adjusted EBITDA increased from a $1.2 million loss to $10.8 million, according to the company. The growth reflects improved operations and marketing by 2021.
In the first half of 2012, Mississippi, which comprises the Silver Slipper Casino and Hotel, was renovated by the company and the hotel, including on-site betting.
This improved the Mississippi area, which had revenues of $22.4 million in comparison with the $8.6 million for Indiana. It was the largest share of money in the first quarter.
“Our first-quarter results continue to benefit from structural changes that we began to introduce before a pandemic shutdown,” said Daniel R. Lee, Chairman and Chief Executive Officer of Full House Resorts.
The company said it had a cash and cash equivalent of $277.9 million as of 31 March. It also had a secured $15 million senior credit facility, which came together when it reached a 5-year agreement.