Full House slips to net loss as revenue declines in 2022
| By Robert Fletcher
Casino operator Full House Resorts posted a net loss in 2022 following a drop in revenue due to the absence of government stimulus checks, construction impact and increased competition in neighboring states.
Full House experienced year-on-year growth in Nevada and in its contracted sports betting division, but revenue fell in Mississippi, its core market, as well as in Colorado and Indiana.
The operator said the primary reason for the overall year-on-year decline was that players in 2021 received government stimulus checks as a way of helping the economy in the wake of the pandemic. However, these were not issued in 2022, with the economy having recovered sufficiently for the government to withdraw the initiative.