Full House Resorts, Inc. - FLL STOCK NEWS

Full House Resorts (NASDAQ: FLL) will announce its fourth quarter 2021 and full-year financial results on March 8, 2022, with a subsequent conference call at 4:30 p.m. ET. Investors can join the call via the company's website or by phone. A replay will be available until March 22, 2022. The company has properties across several states, including Mississippi, Colorado, Indiana, and Nevada, and is currently developing a new luxury casino hotel in Colorado and a gaming destination in Illinois, pending regulatory approvals.

Full House Resorts (Nasdaq: FLL) has appointed John Ferrucci as Senior Vice President and Chief Operating Officer, pending a new employment agreement. Ferrucci will oversee operations for The Temporary at American Place and continue as General Manager at Silver Slipper Casino. The company also announced plans to enhance the American Place project, including acquiring additional land for parking and purchasing a temporary casino structure. The Temporary is set to feature approximately 1,000 slot machines and is expected to open in summer 2022 after receiving necessary approvals.

Full House Resorts (FLL) has concluded its solicitation for consent to amend the indenture governing its 8.250% Senior Secured Notes due 2028. The amendments will allow the company to incur up to $100 million in additional notes to finance the development of The Temporary casino in Waukegan, Illinois, cover transaction fees, and for general corporate purposes. A majority of the noteholders provided their consent, leading to a cash payment of $10 per $1,000 principal for valid consents. The company’s credit agreement borrowings will increase from $15 million to $40 million.

Full House Resorts has priced an offering of an additional $100 million in senior secured notes due 2028. The offering is conducted under private exemption from registration requirements and is expected to close on February 7, 2022. Proceeds will fund the development of a temporary casino in Waukegan, Illinois, cover transaction fees, and support general corporate purposes. The notes will be guaranteed by all current and future subsidiaries.

Full House Resorts, Inc. (Nasdaq: FLL) plans to offer an additional $100 million in senior secured notes due 2028, pending market conditions. This offering follows a previous issuance of $310 million in February 2021. The net proceeds will be used for developing a temporary casino in Waukegan, Illinois, transaction fees, and general corporate purposes. The notes are intended for qualified institutional buyers and will not be registered under the Securities Act. The offering is supported by consent from the majority holders of the original notes.

Full House Resorts, Inc. (Nasdaq: FLL) announced a solicitation for consents to amend the Indenture governing its 8.250% Senior Secured Notes due 2028. The amendments will allow for the issuance of up to $100 million in Additional Notes for developing the Temporary casino in Waukegan, Illinois, covering transaction fees, and for general corporate purposes. The solicitation ends on February 1, 2022, with eligible holders receiving a $10.00 Consent Fee per $1,000 principal. Adoption requires majority consent from Noteholders, with an option to revoke Consents.

Full House Resorts, Inc. (FLL) reported preliminary Q4 2021 results, expecting revenues between $43.0 million and $43.5 million, up from $38.3 million in Q4 2020. Operating income is projected at $4.9 million to $6.1 million, down from $7.7 million. Net income is anticipated to be $4.2 million to $5.9 million, an increase from $3.5 million in Q4 2020. Adjusted EBITDA is estimated at $7.3 million to $8.5 million, reflecting challenging conditions in Nevada and Indiana. For full-year 2021, revenues are estimated at $179.9 million to $180.4 million, a significant rise from $125.6 million in 2020.

Full House Resorts (Nasdaq: FLL) announced that its American Place gaming and entertainment destination proposal was selected by the Illinois Gaming Board, pending final licensing. This selection follows a competitive process that started in 2019. Full House will quickly develop a temporary casino named The Temporary by American Place, anticipated to open mid-2022, creating jobs and tax revenues. The full American Place facility, featuring luxury accommodations and entertainment options, aims for completion by 2024.

Full House Resorts, Inc. (Nasdaq: FLL) reported Q3 2021 revenues of $47.2 million, up 12.6% year-over-year. Operating income rose to $11.1 million, while net income dropped to $4.6 million from $7.7 million in Q3 2020. Adjusted EBITDA increased to $13.6 million, reflecting stronger performance in Nevada and a successful sale of ‘free play’ in Indiana. Despite challenges from Hurricane Ida, Silver Slipper's revenue grew 7.9%. The company is working on two casino development proposals in Indiana and Illinois, with anticipated selections on November 17 and early January 2022, respectively.