Elaine Guidroz, Senior Vice President, Secretary, and General Counsel at Full House Resorts Inc . (NASDAQ:FLL), recently sold a portion of her holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Guidroz sold 852 shares of common stock on November 25, at a price of $5.05 per share, totaling $4,302. Following this transaction, she retains direct ownership of 56,489 shares, with an additional 608 shares held indirectly by her spouse.
In other recent news, Full House Resorts, Inc. has announced several key developments. The casino operator has appointed Jeff Michie as the new vice president and general manager of its Rising Star Casino (EPA:CASP) Resort in Indiana. Michie, a seasoned casino industry professional, will succeed Angi Truebner-Webb and his appointment is pending customary gaming approvals.
Also, the company's compensation committee has approved inducement equity awards for Michie and two other new hires, Kimberly Bender and Katelynn May. These awards are part of a strategy to attract top talent and are compliant with Nasdaq Listing Rule 5635(c)(4).
Furthermore, Full House Resorts has reported its third quarter financial results in an earnings call led by Chief Financial Officer, Lewis (JO:LEWJ) Fanger. The company highlighted its upcoming advertising campaign for the Chamonix project and provided insights into its financial performance.
The company has expressed optimism about the future, particularly with the launch of the Chamonix advertising campaign. Investors were directed to the company's website for additional information, presentations, and video links for the Chamonix ads. These recent developments underscore the company's active engagement with stakeholders.
InvestingPro Insights
The recent insider sale by Elaine Guidroz at Full House Resorts Inc. (NASDAQ:FLL) comes amid a challenging financial landscape for the company. According to InvestingPro data, Full House Resorts has a market capitalization of $169.46 million and is currently operating with a significant debt burden. This financial strain is reflected in the company's negative operating income of $2.95 million for the last twelve months as of Q3 2023.
Despite these challenges, Full House Resorts has shown strong revenue growth, with a 28.57% increase over the last twelve months. The company's gross profit margin stands at a healthy 51.41%, indicating efficient core operations. However, InvestingPro Tips highlight that the company is quickly burning through cash and its short-term obligations exceed liquid assets, which could explain the recent insider sale.
InvestingPro Tips also suggest that analysts do not anticipate the company will be profitable this year, and the stock price movements are quite volatile. These factors may be influencing insider decisions and investor sentiment. It's worth noting that Full House Resorts does not pay a dividend to shareholders, which is often a consideration for long-term investors.
For those interested in a deeper analysis, InvestingPro offers 9 additional tips for Full House Resorts, providing a more comprehensive view of the company's financial health and market position.
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