Consumer Cyclical · Gambling, Resorts & Casinos
Price
$2.79
Market Cap
$101.2M
Employees
1,685
Beta
1.23
Avg Volume
185,634
CEO
Daniel R. Lee
Business Description
Full House Resorts, Inc. is an enterprise that engages in the ownership, development, investment, operation, management, and leasing of casinos along with their associated hospitality and entertainment venues across the United States. Among its holdings is the Silver Slipper Casino and Hotel, situated in Hancock County, Mississippi. This establishment provides 757 slot machines, 24 table games, surface parking facilities, and 129 guest rooms. Its amenities extend to an on-site sportsbook, an upscale restaurant, a buffet, a casual eatery, an oyster bar, a casino bar, and a beachfront bar, complemented by a 37-space beachfront RV park. Further expanding its presence, the company operates Bronco Billy's Casino and Hotel in Cripple Creek, Colorado, which offers gaming facilities, 14 hotel rooms, a steakhouse, and a relaxed dining option. The company also oversees the Rising Star Casino Resort in Rising Sun, Indiana. This complex features 642 slot machines and 16 table games. It boasts a substantial land-based pavilion offering approximately 31,500 square feet for meetings and conventions, an adjoining 190-guest-room hotel, alongside a nearby leased 104-guest-room hotel. Additionally, it includes a 56-space RV park, surface parking, an 18-hole golf course spread across roughly 230 acres, and four diverse dining establishments. Nevada is home to two more of its properties: Stockman's Casino in Fallon, which includes 186 slot machines, a bar, an upscale restaurant, and a coffee shop. The Grand Lodge Casino, with 269 slot machines and 9 table games, is seamlessly integrated into the Hyatt Regency Lake Tahoe Resort, Spa and Casino in Incline Village. Full House Resorts, Inc. was established in 1987 and maintains its headquarters in Las Vegas, Nevada.
Business History
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
-2.49
Stock Price: $2.79
EPS (Diluted): -1.12
EPS (Diluted): -1.12
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
37.05
Stock Price: $2.79
Total Equity: $2.54M
Shares: 36,031,000
Total Equity: $2.54M
Shares: 36,031,000
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
12.81
Market Cap: $101.18M
Total Debt: $473.95M
Cash: $40.67M
EBITDA: $45.68M
Total Debt: $473.95M
Cash: $40.67M
EBITDA: $45.68M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$585.0M
Market Cap: $101.18M
Total Debt: $473.95M
Cash: $40.67M
Total Debt: $473.95M
Cash: $40.67M
P/S Ratio (Price per dollar of revenue)
APIStock Price / Revenue Per Share
0.31
Stock Price: $2.79
Revenue: $302.38M
Shares: 36,031,000
Revenue: $302.38M
Shares: 36,031,000
EV/Sales (Total value vs revenue — works when P/E can't)
API1.93
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
37.5%
Gross Profit: $113.50M
Revenue: $302.38M
Revenue: $302.38M
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
1.3%
Operating Income: $3.79M
Revenue: $302.38M
Revenue: $302.38M
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
-13.3%
Net Income: -$40.20M
Revenue: $302.38M
Revenue: $302.38M
ROE (Profit from shareholder equity)
CALCNet Income / Total Equity
-1,583.8%
Net Income: -$40.20M
Total Equity: $2.54M
Total Equity: $2.54M
ROIC (Profit from all invested capital)
CALCNOPAT / Invested Capital
0.9%
Operating Income: $3.79M
Tax Rate: -1.3%
Equity: $2.54M
Total Debt: $473.95M
Cash: $40.67M
Tax Rate: -1.3%
Equity: $2.54M
Total Debt: $473.95M
Cash: $40.67M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
0.72
Current Assets: $53.00M
Current Liabilities: $73.54M
Current Liabilities: $73.54M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
186.74
Short-Term Debt: $307,000
Long-Term Debt: $473.65M
Total Debt: $473.95M
Total Equity: $2.54M
Long-Term Debt: $473.65M
Total Debt: $473.95M
Total Equity: $2.54M
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$8.39
Revenue: $302.38M
Shares: 36,031,000
Shares: 36,031,000
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$0.07
Total Equity: $2.54M
Shares: 36,031,000
Shares: 36,031,000
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$-0.07
Operating CF: $9.97M
CapEx: -$12.65M
Shares: 36,031,000
CapEx: -$12.65M
Shares: 36,031,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $2.79
Stock Price: $2.79
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$40.20M
Net Income: -$40.20M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares FLL against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 22, 2026 7:21pm (4d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $180.2M | $163.3M | $241.1M | $292.1M | $302.4M |
| Cost of Revenue | $74.7M | $73.4M | $109.6M | $142.2M | $188.9M |
| Gross Profit | $105.4M | $89.9M | $131.4M | $149.9M | $113.5M |
| Operating Expenses | $67.9M | $77.2M | $132.6M | $147.1M | $109.7M |
| Operating Income | $37.6M | $12.7M | -$1.2M | $2.8M | $3.8M |
| Net Income | $11.7M | -$14.8M | -$24.9M | -$40.7M | -$40.2M |
| EBITDA | $45.4M | $20.7M | $31.3M | $42.6M | $45.7M |
| EPS | $0.36 | $-0.43 | $-0.72 | $-1.16 | $-1.12 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 22, 2026 7:21pm (4d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $88.7M | $56.6M | $36.2M | $40.2M | $40.7M |
| Total Current Assets | $275.4M | $202.9M | $84.6M | $53.4M | $53.0M |
| Total Assets | $473.8M | $595.3M | $688.5M | $673.3M | $672.7M |
| Current Liabilities | $38.1M | $65.7M | $78.6M | $67.5M | $73.5M |
| Long-Term Debt | $301.6M | $401.9M | $465.2M | $468.1M | $473.6M |
| Total Liabilities | $361.1M | $495.5M | $610.6M | $632.8M | $670.2M |
| Total Equity | $112.7M | $99.8M | $77.8M | $40.5M | $2.5M |
| Retained Earnings | $5.1M | -$9.7M | -$34.6M | -$75.3M | -$115.5M |
Cash Flow (Annual)
Last updated: Jun 22, 2026 7:21pm (4d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $29.5M | $4.4M | $22.3M | $13.8M | $10.0M |
| Capital Expenditure | -$37.0M | -$170.9M | -$148.6M | -$52.6M | -$12.7M |
| Free Cash Flow | -$7.5M | -$166.6M | -$126.2M | -$38.7M | -$2.7M |
| Acquisitions (net) | $0 | $0 | $0 | $7.0M | $2.4M |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $227.6M | -$74.1M | -$117.4M | -$33.6M | $449,000 |
Analyst Estimates (Annual)
Last updated: Jun 26, 2026 6:14pm (14h ago)| Metric | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|
| Revenue |
$303.1M $298.1M – $306.6M
|
$314.9M $309.6M – $317.9M
|
$331.2M $325.8M – $335.5M
|
$377.0M $370.8M – $381.3M
|
| EBITDA |
$48.8M $48.0M – $49.4M
|
$50.7M $49.9M – $51.2M
|
$53.4M $52.5M – $54.1M
|
$60.7M $59.7M – $61.4M
|
| Net Income |
-$36.6M -$37.3M – -$35.9M
|
-$32.4M -$35.1M – -$22.0M
|
-$34.0M -$46.9M – -$13.4M
|
-$51.2M -$66.5M – -$32.8M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 22, 2026 7:21pm (4d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | -9.4% | +47.6% | +21.2% | +3.5% |
| Gross Profit Growth | -14.7% | +46.2% | +14.1% | -24.3% |
| Operating Income Growth | -66.2% | -109.2% | +336.7% | +37.7% |
| Net Income Growth | -226.5% | -68.2% | -63.3% | +1.2% |
| EBITDA Growth | -54.6% | +51.3% | +36.4% | +7.2% |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for FLL — it's generated by the pipeline (
market-narrative step).
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30