Business
FULL HOUSE RESORTS ANNOUNCES FOURTH QUARTER RESULTS
- Silver Slipper’s Operating Results Grew to Record Levels in 2019 - Mobile Sports Wagering Began in Indiana in Late 2019 with One of the Company’s Three
About this update from Full House Resorts, Inc.
[{"type":"text","content":"- Silver Slipper’s Operating Results Grew to Record Levels in 2019\n - Mobile Sports Wagering Began in Indiana in Late 2019 with One of the Company’s Three Contracted Parties; Remaining Two Mobile “Skins” Expected to Launch in Second Quarter in Indiana - Colorado Sports Wagering Remains On-Track to Launch in May 2020 - Indiana and Colorado Sports Wagering, When All “Skins” are Operational, are Expected to Generate $7.0 Million of Annual Revenue Guarantees for Ten Years - No Discernible Impact of Coronavirus Situation to Date - Company Had $29.9 Million of Cash and Restricted Cash at Year-End; Total Debt Outstanding was $107.9 Million - Company Advances its Proposal for a Major New Casino in Waukegan, Illinois LAS VEGAS, March 12, 2020 (GLOBE NEWSWIRE) -- Full House Resorts, Inc. (Nasdaq: FLL) today announced results for the fourth quarter ended December 31, 2019. CoronavirusThe Company is carefully monitoring the coronavirus situation. As of today, it knows of no confirmed cases of the virus at any of its properties. Nevertheless, it has implemented additional cleaning and disinfection procedures at each of its properties. Beginning yesterday, for the protection of its employees and customers, the Company* began testing employee temperatures with infrared monitors as they arrive for work. Any employee registering greater than 100°F is told to return home and to contact his or her usual health care provider. Yesterday, the first day of the screening procedures, the Company had zero employees reporting for work registering such a fever. The Company is carefully monitoring the situation and will, of course, cooperate with all local health and regulatory agencies. Although this may change, to date our business activity has shown no discernible impact from either the virus or the stock market. Note that our casinos have negligible meeting and convention business and that few of our customers travel by air to visit us. Furthermore, as online sports wagering continues to ramp up over the next few months, it should contribute a significant portion of the Company’s income. Fourth Quarter and Full YearOn a consolidated basis, net revenues in the fourth quarter of 2019 decreased 4.1% to $39.0 million from $40.7 million in the prior-year period. Net loss for the fourth quarter of 2019 was $4.1 million, or $(0.15) per diluted common share, c...