Full House Resorts Inc . (NASDAQ:FLL) recently saw activity from its President and CEO, Daniel R. Lee, who sold shares totaling $96,516. The sales occurred over two days, October 17 and 18, with prices ranging from $4.9902 to $5.0006 per share. Concurrently, Lee exercised stock options to acquire 19,306 shares at $1.25 each, a transaction valued at $24,132. The transactions were part of a pre-established trading plan under Rule 10b5-1, which Lee adopted on June 11, 2024. Following these transactions, Lee holds a significant number of shares directly and indirectly through trusts and as a custodian.
In other recent news, Full House Resorts, Inc. has agreed to sell Stockman's Casino in Fallon, Nevada, to Clarity Game LLC for approximately $9.2 million. The sale, subject to regulatory approvals, will see the company continue to operate the casino until the finalization of the transaction. This move aligns with Full House Resorts' shift in focus towards its larger properties, such as the recently opened Chamonix and American Place casinos.
In terms of financial performance, Full House Resorts reported a positive EBITDA and significant growth at its Chamonix property for the second quarter of 2024. The company also announced plans for the American Place project, with construction expected to begin in August 2025. To finance this project, estimated to cost around $325 million, Full House Resorts is considering issuing new bonds.
Despite facing a lawsuit from the Potawatomi tribe, which could affect the American Place project timeline, the company remains optimistic. It aims to achieve $10.5 million of monthly gaming revenue with margins over 30%, emphasizing the importance of marketing and revenue growth. These are recent developments in Full House Resorts' strategic financial planning and commitment to growth.
InvestingPro Insights
To provide additional context to the recent insider activity at Full House Resorts Inc. (NASDAQ:FLL), let's examine some key financial metrics and insights from InvestingPro.
As of the latest data, Full House Resorts has a market capitalization of $174 million USD. The company's revenue for the last twelve months as of Q2 2024 stood at $274.99 million USD, with a notable revenue growth of 47.08% over the same period. This growth trend is further supported by an InvestingPro Tip indicating that analysts anticipate sales growth in the current year.
Despite the positive revenue trajectory, Full House Resorts faces some financial challenges. An InvestingPro Tip highlights that the company operates with a significant debt burden, which could explain why the CEO, Daniel R. Lee, might be exercising options and selling shares as part of a pre-established trading plan. This could be a strategy to diversify his personal portfolio or raise funds for other purposes.
The company's P/E ratio stands at -6.23, suggesting that Full House Resorts is not currently profitable. This aligns with another InvestingPro Tip stating that the company is not expected to be profitable this year. However, it's worth noting that the EBITDA for the last twelve months as of Q2 2024 was $44.99 million USD, with an impressive EBITDA growth of 304.4% over the same period.
For investors considering Full House Resorts, it's important to note that the stock price movements are quite volatile, as indicated by an InvestingPro Tip. This volatility is reflected in the stock's performance, with a 1-year price total return of 22.09% as of the latest data.
These insights provide a more comprehensive view of Full House Resorts' financial position and market performance, complementing the insider transaction information. For those seeking a deeper analysis, InvestingPro offers 12 additional tips for Full House Resorts, which could provide further valuable insights for investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.