Full House Resorts Inc . (NASDAQ:FLL) has disclosed in a recent filing that SVP Secretary and General Counsel, Elaine Guidroz, engaged in stock transactions on June 11, 2024. According to the filing, Guidroz sold 9,000 shares of Full House Resorts common stock, totaling approximately $45,045. The shares were sold at a weighted average price between $5.00 and $5.20.
In addition to the sale, the filing indicates that Guidroz also acquired 9,000 shares of common stock at a price of $1.51 per share, amounting to a total of $13,590. These transactions were part of an option exercise as detailed in the filing's footnotes.
The disclosed transactions have resulted in a decrease in Guidroz's direct ownership of Full House Resorts shares to 57,341, excluding additional indirect ownership of 608 shares by her spouse.
Investors and market observers often monitor insider transactions as they can provide insights into executives' perspectives on their company's current valuation and future prospects. The sale and acquisition of shares by Full House Resorts' executive are the latest insider transactions for the company, which operates in the hotels and motels industry and is incorporated in Delaware.
In other recent news, Full House Resorts displayed a strong first quarter with record gaming revenues at its American Place casino, marking a significant 39% increase compared to the same period last year. Despite initial losses at the newly opened Chamonix casino, the company projects a break-even point as early as April. The company also announced savings on property insurance costs and detailed its plans for construction and marketing strategies to enhance profitability.
The company has a consistent monthly EBITDA generation around $3 million. Full House Resorts plans to begin construction of a permanent location in Waukegan in August 2025, with fundraising efforts in the next 15-18 months. The company is also exploring the possibility of offering online sports betting to its customer database.
These recent developments indicate Full House Resorts' strategic focus on market share growth and customer attraction, as well as careful financial planning for upcoming construction projects. The company is prioritizing the maturation and profitability of current properties before considering acquisitions. Despite initial challenges, the company's proactive measures to address setbacks set a positive outlook for its future operations.
InvestingPro Insights
As Full House Resorts Inc. (NASDAQ:FLL) navigates the market, recent transactions by company insiders such as SVP Secretary and General Counsel Elaine Guidroz have caught the attention of investors. To better understand the financial landscape of Full House Resorts, a glance at the latest data provided by InvestingPro can offer additional perspective.
InvestingPro Data paints a picture of a company with significant revenue growth over the last twelve months as of Q1 2024, with an impressive increase of 51.71%. This growth is further highlighted by a substantial EBITDA growth of 230.79% during the same period. However, the company's market capitalization stands at $169.03 million, indicating a relatively small player in the industry. The P/E ratio, both current and adjusted for the last twelve months as of Q1 2024, is negative at -6.93 and -6.81 respectively, suggesting that the market is pricing the company's earnings negatively, often a sign of investor skepticism about future profitability.
InvestingPro Tips highlight that Full House Resorts operates with a significant debt burden and is quickly burning through cash, which could explain some of the caution reflected in the P/E ratio. Analysts do not anticipate the company will be profitable this year, which aligns with the negative return on assets of -3.68% over the last twelve months as of Q1 2024. Nevertheless, it's noteworthy that analysts foresee sales growth in the current year, which may offer a silver lining for the company's financial outlook.
With a volatile stock price movement and no dividends paid to shareholders, investors might be weighing the company's strong return over the last five years against its current financial challenges. For those interested in a deeper dive into Full House Resorts' financial health, InvestingPro offers additional tips. There are currently 9 InvestingPro Tips available, which can provide further insights into the company's financial metrics and stock performance.
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