Rising Star brings back Christmas Casino
Nasdaq: FLL today announced results for the third quarter ending September 30, 2018.
Lee, President and Chief Executive Officer of Full House Resorts.
We also recently completed several more investments.
After navigating numerous state and federal agencies for several years, we finally welcomed our first cars on September 29.
High winds and a mechanical issue caused us to not operate for a few days during the month.
Those issues have been resolved and the ferry is now operating reliably with approximately four round-trips per hour starting at 8:00 a.
The early response has been extremely positive, with more than 10,300 passengers utilizing the service over its 22 days of operations in October.
We are still in a ramp-up period and should be further helped by a targeted awareness campaign that we recently commenced.
Lee, "we opened our newest amenity in August 2018, an on-site sports betting area.
New amenities like this one, as well as the Oyster Bar and Beach Club that we completed last year, have contributed to increases in guest traffic and casino win.
Our net win rose 8.
We kept this quiet so that the publicity would be appropriately timed for the holiday season.
We anticipate that construction of Phase Two, including a new four-star hotel, spa, and convention and entertainment space, will begin once we complete Phase One's parking garage, as much of today's surface parking lots will be utilized in the expanded Bronco Billy's facility.
We continue to expect completion of the entire project in 2020.
Our proposal, La Posada del Llano, represents see more largest investment by far of all the proposals, and it generates the most in jobs and tax revenue.
It also has the potential to improve race purses and radically transform the horse racing industry by introducing new fans to the sport, including through our unique 'Moving Grandstand' concept.
While there is never certainty in such competitive processes, we firmly believe that our proposal is the strongest of the five proposals in terms of the benefits for the racing industry, the City of Clovis, and the State of New Mexico.
The racing commission is expected to make a decision within the next few months.
Silver Slipper continued to benefit in the quarter from new marketing initiatives and its newest amenities, the Silver Slipper Beach Club and the Oyster Bar, opinion casino pittsburgh are opened in mid-2017.
In August 2018, Silver Slipper opened a sports betting area in partnership with William Hill Sports Book, which specializes in race and sports betting.
Adjusted Property EBITDA improved 14.
In late-September 2018, the Company began its new ferry service, which provides service for up to ten vehicles per trip, with an estimated four round-trips per hour, between Boone County, Kentucky, and Rising Sun, Indiana.
The initial response to the ferry boat service has been strong, with an average of 211 vehicles per day utilizing the service christmas casino rising sun indiana its 22 days of operations in October.
For a video of the ferry boat and pictures of our property improvements, please visit our investor relations website.
The Rising Star ferry webcam can be accessed at.
The buffet becomes "Mrs.
Claus' Kitchen" and Wellington's Steakhouse becomes the " Yuletide Inn.
Santa's live reindeer are again returning and this year are joined by a flock of live turkeys for families to enjoy before and after the Thanksgiving holiday.
We've also added a "Hay-Maze-ing Hay Maze" at the property.
Santa will, of course, be available at various times within the hotel pavilion for presentation of gift requests and explanations of naughty behavior; reservations can be arranged on the Christmas Casino website at.
In the Christmas Casino's Grand Theater, the Rising Sun resort will offer a live, musical, dinner theater version of "A Christmas Story," the beloved comedy about a boy and his quest for a Red Ryder BB gun.
The theatrical production will be offered on Thursday, Friday, and Saturday evenings, as well as a matinee show on Saturday and Sunday afternoons, from November 15 through December 28, 2018.
Reservations can be made at.
This year, the Christmas Casino also features a new animatronic Christmas tree and a new scene with a column of ice that simulates the North Pole.
Most exciting, guests may also enter a drawing to win a trip to the REAL NORTH POLE, being offered in conjunction with Polar Explorers.
The lucky winner, expected to be drawn in early February, will travel with a friend, spouse or significant other to the small town of Longyearbyen in northern Norway in April.
From there, they will fly on a special aircraft that lands on the polar ice cap, near the actual North Pole, spending at least one night in heated tent accommodations.
The North Pole lies under the polar ice cap and that ice cap moves gradually every day.
The Christmas Casino at Rising Star is proud to offer this unique, once-in-a-lifetime opportunity.
It notes, however, that Santa is usually relaxing in warmer environments during April, so he will not be able to greet his guests personally at the North Pole.
The new Christmas Casino represents the first new gaming product in Cripple Creek in more than 10 years and includes a 17-foot rotating Christmas pyramid custom-built in Germany, a 15-foot Christmas tree trimmed with more than 800 ornaments, nearly a quarter mile of garland throughout the casino, a cuckoo-clock wall, a unique fiber optic ceiling which simulates shooting stars in the night sky, numerous nine-foot-tall nutcracker soldiers, and other festive design elements.
The property also features eight live reindeer that have been imported for the holiday season, adding to the famed donkeys that are a long-standing feature of the Cripple Creek community.
In June 2018, the Company received final approvals from the Cripple Creek City Council, including approval of a development agreement related to the expansion.
In October 2018, the Company christmas casino rising sun indiana granted its motion to dismiss a competitor's lawsuit related to the project.
Accordingly, the Company expects to begin construction of the parking garage this quarter, with completion expected near the end of 2019.
We anticipate that construction of Phase Two, consisting of a new four-star hotel, spa, and convention and entertainment space, will begin once we complete Phase One's parking garage, as much of today's surface parking lots will be utilized in the expanded Bronco Billy's facility.
We continue to expect completion of the entire project by the end of 2020, contingent upon receipt of financing on acceptable terms, among other contingencies.
For renderings of the proposed expansion, as well as a presentation discussing the Company's analysis of the Cripple Creek market, please visit the investor section of www.
Adjusted Property EBITDA for the Northern Nevada segment improved 9.
In accordance with that process, the Company formally presented its racetrack casino proposal -- La Posada del Llano -- to the Commission in October 2018.
In casino puerto madero aires federal argentina 2018, we will again appear in front of the Commission to answer additional questions regarding our project.
If selected by the Commission, La Posada is expected to include a racetrack featuring a unique "Moving Grandstand," an 18-hole championship golf course, a casino with up to 750 slot machines, and a 300-guestroom hotel, among other items.
The Company currently expects the Commission to make a decision regarding the issuance of the racetrack license within the next few months.
For renderings and additional details on our proposal, please visit.
To access that Facebook page, please visit.
Conference Call Information The Company will host a conference call for investors today, November 7, 2018, at 4:30 p.
PT to discuss its 2018 third quarter results.
The conference call can also be accessed by dialing 800 289-0571 or, for international callers, 323 794-2597.
A replay of the conference call will be available shortly after the conclusion of the call through November 21, 2018.
To access the replay, please visit.
Investors can also access the replay by dialing 844 512-2921 or, for international callers, 412 317-6671 and using the passcode 5672479.
We utilize Adjusted EBITDA internally to focus management on year-over-year changes in our core operating performance, which we consider our ordinary, ongoing and customary operations and which we believe is useful information https://n-club.info/casino/casinos-near-disneyland-california.html investors.
Accordingly, management excludes certain items when analyzing core operating performance, such as the items mentioned above, that management believes are not reflective of ordinary, ongoing and customary operations.
A version of Adjusted EBITDA known as Consolidated EBITDA, as defined in the indenture governing our senior secured notes is also used to determine compliance with certain covenants.
In addition, because Adjusted EBITDA apologise, hard rock casino palm beach taste not calculated in accordance with GAAP, it may not necessarily be comparable to similarly titled measures employed by other companies.
A reconciliation of Adjusted EBITDA is presented below.
However, you should not consider this measure in isolation or as a substitute for operating income, cash flows from operating activities, or any other measure for determining our operating performance or liquidity that is calculated in accordance with GAAP.
You are encouraged to evaluate these adjustments and the reasons we consider them appropriate for supplemental analysis.
In evaluating Adjusted EBITDA, you should be aware that, in the future, we may incur expenses that are the same as christmas casino rising sun indiana similar to some of the adjustments in this presentation.
Our presentation of Adjusted EBITDA should not be construed as an inference that our future results will be unaffected by unusual or non-recurring items.
Accounting Standards Codification No.
The accounting changes have little effect on net revenues, Adjusted EBITDA, operating income, or net income.
However, those changes substantially affect the characterization of revenue items leading to net revenues, as well as the treatment of certain departmental expenses.
In accordance with the "modified retrospective" approach, figures for the 2018 periods are presented under the new standard, while figures for the 2017 periods are presented without adjustment.
As a result, comparisons of departmental items in our financial statements between periods in 2018 and 2017, such as "casino revenues" and "casino expenses," are not meaningful, as much of the change is caused by the new accounting standard.
To facilitate comparisons with the 2017 periods, we have provided a supplemental table showing affected items without the adoption of the new revenue recognition standard.
FULL HOUSE Christmas casino rising sun indiana, INC.
See the following page of this release for further details.
Full House Resorts, Inc.
ASC 606 changed the accounting for loyalty points earned by and communicated to customers through the loyalty program.
Previously, the estimated liability for unredeemed points was accrued based on the estimated value of the service or merchandise to be provided, adjusted for the fact that christmas casino rising sun indiana of such points are never redeemed i.
The accrual for the liability was created with an offset to the casino department.
When the points were redeemed, the accrual was reduced and the casino department was offset by a like amount.
The department providing the goods or service also recorded the revenues, which were then offset by "promotional allowances.
When the points are redeemed, the reserve is reduced and the relevant department is credited with the retail value of the goods or services provided.
It is not added back to casino revenues and no promotional allowance is created.
The Company historically reported revenue for goods and services provided free to gaming customers as gross revenue for the relevant department.
Such amounts were then aggregated as "promotional allowances," a christmas casino rising sun indiana account that was then subtracted to arrive at net revenues.
Under ASC 606, the Company now records the rama coach canada of such complimentaries as a reduction to gaming revenues, rather than an offset against total gross revenues.
The expenses of each department remain in that department.
Full House Resorts, Inc.
Forward-looking Statements This press release contains statements by Full House and its officers that are "forward-looking statements" within the meaning of the safe harbor provisions of the U.
Private Securities Https://n-club.info/casino/hollywood-casino-at-penn-national-grantville-pa.html Reform Act of 1995.
Forward-looking statements are neither historical facts nor assurances of future performance.
Some forward-looking statements in this press release include those regarding our operating trends and expected results of operations; our future growth prospects; our beliefs regarding the impact of our recent renovations and improvements on our results of operations; our expectations regarding our new ferry boat service; our ability to make significant progress on our longer-term growth plans; our expectations regarding our Bronco Billy's expansion project, including timing for completion of the entire project and for commencement and completion of the project phases; our expectations for the Christmas Casino; our intent to compete for a racetrack casino license in New Mexico and our expectations regarding our related proposal, including timing for a decision by the New Mexico Racing Commission.
Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that christmas casino rising sun indiana difficult to predict and many of which are outside of the control of Full House.
The Company is under no obligation to and expressly disclaims any such obligation to update or revise its forward-looking statements as a result of new information, future events or otherwise, except as otherwise required by law.
Actual results may differ materially visit web page those indicated in the forward-looking statements.
About Full House Resorts, Inc.
Full House Resorts owns, leases, develops and operates gaming facilities throughout the country.
The Company also operates the Grand Lodge Casino at the Hyatt Regency Lake Tahoe Resort, Spa and Casino in Incline Village, Nevada under a lease agreement with the Hyatt organization.
Further information about Full House Resorts can be viewed on its website at.
The continue reading contained on, or that may be accessed through, our website and Facebook page are not incorporated by reference into, and is not a part of, this document.
click here Lewis Fanger, Chief Financial Officer Full House Resorts, Inc.
Rising Star 2015 Christmas Casino Reindeer, Displays and Golf Course
Santa, Mrs. Claus and the elves return to the Rising Star Resort in Rising Sun, Indiana this fall for the opening of a one-of-a-kind holiday ...
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