Full House Resorts Q4 Casino EBITDA Up 29%, Permanent Build to Break Ground Soon
American Place temporary casino revenue climbed 11% in Q4 to $32M, driving adjusted property EBITDA up 29% to $8.7M. Management expects to break ground on the permanent facility within weeks under financing proposals that could fully fund construction, while Colorado properties delivered a $4.2M H2 EBITDA gain.
1. American Place Casino Growth
Management reported Q4 revenue of $32M at American Place, up 11% year-over-year, with adjusted property EBITDA rising 29% to $8.7M. For 2025, American Place achieved $124M in revenue (+13%) and $34.3M in adjusted EBITDA (+17%), with growth accelerating in the second half of the year.
2. Financing and Construction Timeline
Executives have received multiple financing proposals at acceptable rates that could fully fund the permanent American Place facility without issuing equity. Architects are finalizing foundation drawings, and the company expects to break ground on foundations within weeks, targeting a permanent opening in roughly two years.
3. Colorado Operations Turnaround
After leadership changes, Colorado properties led by Chamonix saw H2 2025 adjusted property EBITDA improve by $4.2M versus H2 2024. Early 2026 data show guest counts up about 20% and visits up 36%, supported by property refreshes at Bronco Billy’s and a new Mexican restaurant to boost loyalty.
4. Legislative Extension and Outlook
A bill has been introduced to extend the temporary casino’s operating authorization by 18 months beyond August 2027, with a vote expected in April or May. Executives reiterated long-term targets of $50M run-rate EBITDA for the temporary facility and $100M for the permanent casino.