Chamonix, Colorado’s Newest and Most Luxurious Casino Hotel, Opens at Noon on Wednesday, December 27, 2023
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Insights
The opening of Chamonix Casino Hotel by Full House Resorts, Inc. represents a significant expansion of the company's portfolio in a strategic location that taps into the Colorado tourism and gaming market. The proximity to Colorado Springs and Denver positions Chamonix to attract a mix of local and regional visitors. The integration with Bronco Billy's Casino could potentially create a synergistic effect, enhancing the overall guest experience and encouraging longer stays. The luxury positioning, with amenities such as a high-end restaurant and spa, is designed to differentiate Chamonix from other gaming destinations in the region.
From a market perspective, the introduction of high-limit gaming areas and a variety of slot machines may draw in high-value clientele, contributing to increased revenue per visitor. The phased opening strategy, starting with the casino and partial hotel operations, allows for immediate revenue generation and provides a testing ground for operational efficiency prior to the full-scale launch. The addition of a luxury retail store and a celebrity chef-driven restaurant further diversifies the revenue streams beyond gaming, catering to a trend of integrated resort experiences.
However, the success of Chamonix will depend on its ability to maintain high occupancy rates and guest spend, particularly given the competitive landscape. Additionally, the long-term impact on Full House Resorts' financial performance will be contingent upon effective marketing, management of operational costs and the economic stability of the target demographics.
The opening of Chamonix Casino Hotel is a capital-intensive endeavor that could have a substantial impact on Full House Resorts, Inc.'s balance sheet. The short-term financial implications involve significant upfront costs associated with construction, staffing and marketing. However, the projected revenue from the casino operations and other amenities could offset these costs over time, provided that the execution aligns with the company's financial projections.
Investors should monitor the occupancy and room rates, casino floor traffic and average spend per guest as key performance indicators following the opening. These metrics will be crucial in assessing the return on investment and the timeline for profitability. Full House Resorts' stock price may react to the initial performance of Chamonix, as well as to the market's perception of its potential to drive long-term growth.
It's also important to consider the broader economic environment, as discretionary spending on leisure and gaming is sensitive to economic downturns. In the event of a recession, luxury destinations such as Chamonix could experience a decline in consumer spending, which would impact revenue and potentially delay the break-even point for the investment.
Located in charming Cripple Creek, Chamonix is conveniently located less than an hour from Colorado Springs and approximately two hours from Denver
CRIPPLE CREEK, Colo., Dec. 26, 2023 (GLOBE NEWSWIRE) -- Full House Resorts, Inc. (Nasdaq: FLL) today announced the opening details for its newest gaming destination – Chamonix Casino Hotel. Chamonix’s stylish new casino and luxurious 300-guestroom hotel effortlessly blend Colorado comfort with classic European elegance. It is located in historic Cripple Creek, approximately 45 miles from Colorado Springs and 80 miles from Denver’s southern suburbs. Chamonix is adjacent to – and integrated with – Bronco Billy’s Casino, also owned by Full House Resorts.
Chamonix features an elegant casino floor, with a wide variety of the newest slot machines, a high-limit slot salon, and the state’s most elegant table games area. Many of Chamonix’s hotel guestrooms and suites offer balconies and sweeping views of Cripple Creek, Pikes Peak and the spectacular Sangre de Cristo mountains.
On Wednesday at noon, Chamonix will open its entire casino, a portion of its 300-guestroom hotel, and its convenient valet, garage and surface parking. It will operate a temporary restaurant (Chamonix Bistro) and buffet in its elegant meeting room area. Within a week, the Company expects to open the balance of its guestrooms. In approximately one month, Chamonix plans to open its high-end 980 Prime restaurant, featuring the cuisine and supervision of Las Vegas celebrity chef Barry Dakake. Shortly thereafter, Chamonix will unveil Ore and Alloy, its freestanding jewelry and luxury retail store, and its opulent Chamonix Spa. The spa features a rooftop pool and deck; winter garden; large workout room with modern exercise equipment; eight massage rooms; and an assortment of saunas, steam rooms and other amenities. The spa also offers a full-service salon with hairdressers, barbers, and manicure and pedicure capabilities. In the spring, the adjoining Bronco Billy’s Casino will introduce its new Italian restaurant, Firenze.
Chamonix is named after the “Queen of Alpine” resorts in France, located at the foot of Mont Blanc and site of the first Winter Olympics in 1924. The name is particularly appropriate, as Colorado Springs is home to the U.S. Olympic Committee and Training Center. Our Chamonix destination in Colorado will add to the region’s century of high-end hospitality, which includes the world’s longest-running Forbes Five-Star and AAA Five-Diamond resort.
“Chamonix is a special place, unlike any other casino hotel in the state. It offers a high-end, Las Vegas experience in our beautiful Colorado mountain setting,” said Baxter Lee, General Manager of Chamonix Casino Hotel. “We are overjoyed to open Chamonix’s doors on December 27 and to welcome our friends from Colorado and beyond.”
For more information on Chamonix Casino Hotel or to reserve a room, please visit www.ChamonixCO.com.
About Full House Resorts, Inc.
Full House Resorts (Nasdaq: FLL) owns, leases, develops and operates gaming facilities throughout the country. Our properties include Chamonix Casino Hotel and Bronco Billy’s Casino and Hotel in Cripple Creek, Colorado; American Place in Waukegan, Illinois; Silver Slipper Casino and Hotel in Hancock County, Mississippi; Rising Star Casino Resort in Rising Sun, Indiana; Stockman’s Casino in Fallon, Nevada; and Grand Lodge Casino, located within the Hyatt Regency Lake Tahoe Resort, Spa and Casino in Incline Village, Nevada. For further information, please visit www.fullhouseresorts.com.
Forward-looking Statements
This press release may contain statements by us and our officers that are “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “believe,” “project,” “expect,” “future,” “should,” “will” and similar references to future periods. Some forward-looking statements in this press release include those regarding the opening timeline for Chamonix and its expected amenities. Forward-looking statements are neither historical facts nor assurances of future performance. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Information concerning potential factors that could affect our financial condition and results of operations is included in the reports we file with the Securities and Exchange Commission, including, but not limited to, Part I, Item 1A. Risk Factors and Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations of our Annual Report on Form 10-K for the most recently ended fiscal year and our other periodic reports filed with the Securities and Exchange Commission. We are under no obligation to (and expressly disclaim any such obligation to) update or revise our forward-looking statements as a result of new information, future events or otherwise. Actual results may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements.
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