Full House Resorts Inc (FLL)
NASDAQConsumer DiscretionaryGambling, Resorts & CasinosSnapshot 2026-09-04
$2.07+0.98%
Close 2026-09-04 · 1-day change
NASDAQConsumer DiscretionaryGambling, Resorts & CasinosSnapshot 2026-09-04
Broken: Primary pillar broken — Company revenue grows about 6% in 2026: rev +5.6% vs 6%.
Full House Resorts aims to improve Colorado operations to boost income. Analysts expect about 6% revenue growth in 2026. The stock trades at a low EV/EBITDA of 11.15 and a price-to-sales of 0.32, reflecting cheap valuation. The company extended its credit agreement maturity to August 2027, easing near-term liquidity concerns.
The company is loss-making with negative EPS of -$0.89 expected in 2026. Recent earnings misses and a 20% share price drop show weak momentum. Revenue growth and profitability may not improve, risking further declines.
The market prices in about 6% revenue growth and values the stock roughly 21% below our fair value near $3.41. Our view aligns with consensus on growth but remains cautious on profitability recovery.
Breaks if: Colorado operations fail to generate significant positive income in FY26
Focus on improving Colorado operations to significantly contribute to income in 2026 and beyond.
This is not a price target or investment advice.
A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.
This investment represents a turnaround story in the Consumer Discretionary sector. The current thesis state is cautious, as the company is working to improve profitability while facing headwinds in its industry.
The market appears to price FLL as a cheaper option compared to peers, with a significant expectations gap. However, the valuation is justified given its loss-making status and recent performance issues.
Management has shown stability and is on track with key priorities, such as expanding the American Place casino operations and improving profitability at Chamonix/Bronco Billy's. However, there is an elevated risk of an earnings miss in the near term due to the company's smaller size and the high miss rate in its industry.
The thesis hinges on several factors, including management's ability to execute on growth initiatives and the performance of sector peers like LVS, DKNG, and MGM. Additionally, any changes in inflation rates could impact the broader Consumer Discretionary sector and FLL's performance.
The most important moves since the prior daily snapshot.
Mixed, the news cuts both ways. The company plans to expand American Place operations. This supports growth objectives. However, it missed earnings estimates for Chamonix. This may hinder profitability goals for that location.
as of 2026-09-04
Review the evidence to watch, what would become a concern, and what would make it less concerning.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Breaks if: credit agreement maturity not extended beyond January 2027
Breaks if: YoY revenue growth falls below 6% in FY26
Focus on improving Colorado operations to significantly contribute to income in 2026 and beyond.
Over the next 1 to 3 years, FLL's trajectory will depend on its operational execution and external economic factors. Not investment advice.