Full House Resorts navigated a challenging third quarter as renovation work continued at the Grand Lodge Casino in Incline Village. The company reported that the project significantly impacted operations on the North Shore during weeks when portions of the gaming floor were temporarily closed, though management maintained most operations around the construction schedule. Strong performance at American Place in Illinois and Chamonix in Colorado helped offset a slower period in the West segment.
The Grand Lodge renovation offers a clear example of how physical changes to casino layouts influence visitor patterns. When sections of a gaming floor close for construction, guests alter their movement through the facility, often choosing to visit competitors or delay their return until renovations are complete.
Disruptions like this aren’t unique to one region. When local access changes, people often look around for something that keeps their routine steady. In places where new rules narrow the usual gaming choices, readers sometimes check what offshore platforms offer. That’s why a guide that explains non GamStop casinos in the UK market may draw attention during regulatory changes, since it outlines how those sites operate outside the standard licence structure, including details on different payout speeds or withdrawal limits. The behaviour isn’t about a single country, as it’s the same pattern that appears whenever familiar options tighten for a while.
The United States operates under a state-by-state regulatory framework, creating its own unique patterns. Nevada relies on state-regulated in-person systems, while some states offer legal online options. During the Grand Lodge renovation, some visitors simply drove to casinos in Stateline, where gaming floors maintained their usual layouts. Many indicated plans to return once the Tahoe property fully reopens.
Renovation work at Grand Lodge moved across different sections of the gaming floor throughout the quarter. Tables shifted positions, walkways narrowed, and familiar routes through the property changed with limited advance notice. These modifications affected table operation frequency and guest movement patterns. As the floor space tightened during the slower seasonal period, some visitors opted for shorter stays, while others chose to wait out the temporary closures while monitoring project progress.
The phased approach allowed Grand Lodge to maintain partial operations but created uncertainty for regular guests accustomed to specific layouts and table locations. Management acknowledged the challenges but emphasized the long-term benefits once construction is completed.
Company-wide financial results reflected this mixed quarter. Total revenue reached $78 million, a modest increase from $75.7 million in the same period last year. Net loss narrowed to $7.7 million compared with $8.5 million a year earlier. Adjusted EBITDA rose to $14.8 million, indicating improved operational efficiency despite renovation headwinds.
The West segment posted revenue of $18 million, down from $19.4 million the previous year. Management attributed the decline primarily to construction disruption at Grand Lodge and the removal of Stockman’s Casino from the revenue base following its closure.
American Place and Chamonix continued delivering growth that partially offset Western segment weakness. These properties demonstrated the value of geographic diversification in Full House’s portfolio strategy.
Full House ended the quarter with $30.9 million in liquidity and approximately $10 million available under its credit facility. The company carries roughly $450 million in debt, though leadership expressed confidence in managing the obligations as renovation work progresses.
Construction at Grand Lodge has extended beyond initial timelines, but management indicated the project is moving toward a more predictable completion schedule. Once finished, the renovated property should provide enhanced guest experiences and improved operational efficiency that justify the temporary disruption to Q3 results.
