Full house Resorts has reported its financial results for the fourth quarter of 2025 and full-year, having managed to increase revenue during both periods but also witnessing respective net losses of $12.4m and $40.2m.
For Q4 2025, net revenue increased 3.4% for a total of $75.4m, while the $12.4m loss during the quarterly period equates to growth of 0.6%. Full House Resorts reported an increase in operating expenses of 2.7% to $76.4m, resulting in an operating loss of $976,000.
Despite the net loss reported during Q4 2025, Full House Resorts still managed to increase adjusted EBITDA by 3.3% to $10.7m, while casino revenue grew 6.9% to account for $58.2m of the operator’s total net revenue.
Food & beverage and hotel operations generated Q4 2025 revenues of $9.7m and $4m, respectively, representing decreases of 8.4% and 9.6%. Other operations, including contracted sports wagering, produced nearly $3.6m of revenue during the quarterly period, having risen 0.7%.
Full House Resorts’ business in the midwest & south region reported $58.2m of revenue for Q4 2025, equating to a 5.7% increase from the prior year period. The West region produced a 3.2% decrease in revenue to $15.6m, while the adjusted EBITDA of contracted sports wagering fell 45.1% to just over $1.6m.
During FY2025, the operator’s net revenue increased 3.5% year-over-year to $302.4m, while adjusted EBITDA decreased 1.1% to $48.1m. Even with the $40.2m net loss reported for FY2025, the figure still equates to a 1.2% decrease from the net loss witnessed during FY2024.
Casino and hotel operations accounted for $230.3m and $16m of revenue for the full-year period, respectively, representing increases of 6.2% and 2%. Food & beverage revenue fell 6.1% during FY2025 to $39.3m, while other business revenue decreased 4.6% to $16.8m.
Full House Resorts’ operating expenses for FY2025 increased 3.4% to $299.3m, but the entity was still able to grow operating income during the full-year period by 13.6% to $3.1m.
Midwest & south operations produced $231.5m of FY2025 revenue and rose 5.4%, with revenue from businesses in the west region remaining stagnant at $63.6m. The operator’s contracted sports wagering adjusted EBITDA decreased 26.8% to nearly $7m during the full-year period.
Accel Entertainment reported its financial results for Q4 and FY2025 on March 3, as the operator managed to set all-time high marks for net revenue and adjusted EBITDA during both periods
