Full House Resorts (FLL)

Lewis Fanger Chief Financial Officer
Daniel Lee President and Chief Executive Officer
David Bain ROTH Capital
Jordan Bender Macquarie
Call transcript
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Good day, everyone, and welcome to the Full House Resorts Fourth Quarter Earnings Call. Today’s conference is being recorded. At this time, I’d like to turn the conference over to Lewis Fanger, Chief Financial Officer of Full House Resorts.

You may now begin.

Lewis Fanger

Alright. you. Thank everyone. afternoon, Good fourth call. our quarter to earnings Welcome

Securities As today’s statements conference we you begin, that of that we to actual discussion also you materially property the that may EBITDA we our remind from Federal provision caption call Harbor could forward-looking making the the the always, press I release remind anticipated results under under non-GAAP affect would like before to we’re Safe in Laws. results may reference differ company’s and contain may these for make forward-looking of the measures statements. results. adjusted that Also, Please EBITDA. see today’s as risks statements such forward-looking adjusted

last was more versus cost time the you as we’re well X%, including, part EBITDA over revenues XXX% part years all, that that of see it couple than last We we was today’s a the we’re Slipper. all measures, on earnings please a structure but introducing lastly, just pretty as reconciliation call weather, with Silver release, well as also a last been last well quarter. our that gave of of that the our wrap our broadcasting year, versus a this And as fullhouseresorts.com, that doubled those were up amenities find we of some issue. starting we’ve press new did on can have we hint where adjusted and you conference filings. of of And as at year’s focus fourth actually For SEC releases at you website, the said, up estimate all phenomenal big up various but to spoke quarter guys

at several up helped the as all the ago, Silver firing really Slipper, results launched the new that we months on to opened the of new There’s now. properties have lead at Oyster cylinders area that sports middle in all XXXX. property. Looking few Bar It’s that right amenities A do great we there. specifically, betting

Adjusted there for highest ever XX% XX% fourth If that year was its less ago, now. X%. last been also job. it’s those we records you have was they’re ever. year quarter. flat new look was peak EBITDA. was the increasing there. in than and That XX He’s a a and first for And million Casino at the that Star, up property. one of XX%, property year. the than Growth about back up payroll highest And GM more was the the up only [indiscernible] XX opened months were in about the ever, a think Rising you area. EBITDA the Restaurant EBITDA over even over with quarter virtually of for done made gaming revenue volumes highest great revenues, years X guest the up, in all He’s if it

Ben ways some some he’s toppled things. in we with and eyes property reinventing do the in Now, started and it’s gone fresh of there, really the out

starting that and you’re the so, And see results. to

in improved a time boat area the services was Airport. things now. of on last boat, find Google is is there County those the up guest and find a get part EBITDA been don’t casino threat it you amenities, a an for time of Cincinnati boat ferry some there use wrap some a can a making the buy Last there to revenues it’s we year in introducing, my our to up so only the Kentucky, to it to when like small of to and home also few hotel example is those through market map up as frankly except you know closest is Billy’s It we to ferry as adjusted County, our decline, of snow, us room. we’re at up which rooms That’s and look about a it’s ramping includes a do, new In machine and you that stranded and joke starting navigate, but the Boone without got EBITDA. been pretty snow our town fastest December inserted closer to newest and snow in about the the to way Bronco $X,XXX, process, a look should International route that hit If and [XXX,XXX] XX. populate and at we home get don’t makes other of stays have for slot third but EBITDA our takes with takes we the whenever meantime, to have This Boone people, ferry was quite one that you that year’s meaningfully. year’s quarter that’s people if option. It’s an want in because [$XXX,XXX].

you have Bronco all. the hit have look big it snowstorm unfortunate on a building operates did. we also newest meantime, the at opened of own Christmas If in November X. place, Not only that Billy’s rooms a Years so there New exiting and we little to Casino, at In opened it’s up It backbone. our but our XX weekend,

that. or lease point an labor GM not HR need to or of view do a space, We operate. from team pay the separate for anything like a expensive space So, to it’s a we have but don’t the separate

an in So response far, has the we at uptick you good and property. the look as November been initial revenue at thought example, if an X%

so have news is Dan for In we and the points that for review have but bucket people the point were for is extras at there, We on out good operations it’s didn’t them out customers some that and marketing item, had make but problems well EBITDA normal for there. of when Billy’s but ski as and need of we’ve you areas of are, we bump that people we to we over ski well. and liability the on moved, this, touch of example do And things other is, right. we’ve tweaks. been always is for that some and good to lastly, had a there in dates season Bronco EBITDA, a few some property that that instances as is of Northern doing full. passed permanent away, that a then ours, put gave Bronco the down. in when expiration also one we self-inflected Bronco’s a good some we date, so few expiration momentary points people had a an not of Billy’s over was be Nevada, thorough there we found a made areas a a will points have the lot For still snow identified full-year, improvement. had took just we We an expense as lot points because where but And snow for snow, Hyatt that’s in

that And stockman’s had belonged so, we with fourth in for door to the led guest quarter of the the up XXX%. was EBITDA better-quality a revamp XXXX that much

a overall. quarter over pipe few looking at So, with I’m words. in to good Dan

Daniel Lee

in The Few Silver things I Lewis Slipper expand what said. on May. can from

the will be wallpaper, renovating flooring different new it with are Casino and carpet new color in table buffet, scheme. tops, We the

look feel carpet the a high-end more just with replacing carpet. and same it the not And existing like we're little So, will place.

it’s time years since it been ago. opened first dozen remodeled So, a

here. has doing. make think what Property I a to we So, difference three going been been continuous to kind of place have consistently big the pretty the been it’s pretty for and we’ve it years a

I and of it is type get having. Hotel buffet will We pretty what that than hotel, to heights the no but buffet will, We that’s instead a we’re operate days. you Doubletree common fee year. Rising buffet we expensive resort a also At at free it introduced that’s operate in resort buffet less this of in free things. hotels the which was doing or but our have breakfast, much Inn free us full longer Fairfield to think So, but we’re you at Star, newer go the number volumes kind your these if recently it’s to for for of a offer

of meals the in competition buffet going of that something day turn that weekends, which to already our these one more most we operates and restaurants market into that We’re the operate at. can on just is of distinct something at modify is actually frankly

operate operate dinner, us the of math the run and seven it, for very one We’re of people only stopped the who people, buffet we’re few a and seven when that meals portion, we’ve week not and you a days economically day, week. the on have many three week, very been mid-week days on frankly really to it’s and days lunch the who breakfast operating already a

we’re the there. So, making of some changes

and which Rising other casino next We that facility, are at we in fewer perhaps is will stadium Star the in casino, in are we installed, and $X some have offer few the we of installing do the changes now wee the of the operate some tables making markets. and with weeks. casino part the we game of the in Once morning. table the not We don’t our hours gaming

black will in until ability have kind alternative, o’clock and stadium table we gives an gaming table Rising jack are kind we Star a at there to the you eliminate and games morning, area play X have than and setting. into it or games craps the more get you don’t employees when So, to customers, of the of type which

had the payroll satisfy math the of that’s a dealt goes jack only philosophy other cover frankly anyway happen drive If where we to so can up move on well was things every $X for people call and we’re improving front that black to the the And payroll, desk their year were we even minimum websites really mechanized on and at maybe the make the we or staffing for the for technology think away a that are way kiosks, the table you to a Bronco down if that company there as is down things run the with don’t rooms wages our Rising quarter. reservations in where which And hand, full, Star. $X special Billy’s, we people don’t the on. line property a throughout and you $X more there. is table, number can of marketing table from so for the kiosks, to and really are maybe a go companies betting events unemployment have in doing That’s if that move and kiosk throughout and game the only it’s same sitting centers people and for substitute to hotel and of can we so one. trying and game economy that’s I looking as down, dealer fewer

it’s we’re some that to expand it. And related the ready of fact to getting

one it, participating went games, we to in least a For years warehouse of machines start and as and we and and it construction tear want a down we space. refurbish have as new that of part up construction. by don’t we’re $XXX,XXX casino buy the them that hotel, of today part of of and more of we’re for we then two We new actually while of slot we or casino, know the under cost part that of part probably them the fourth to it’s going put our close and over

the the about given be extent garage the to later this any then games part that us slot and effectively closing we we they can and the done it machines, new up So, introduced and the participating given year. casino get with so to year, company parking in and be least time because cost we’ve that during that and back once end open, we’ve $XXX,XXX will of

garage surface build the We’re hotel of starting then we existing take parking, as hotel, the the can months when casino. parking XX shortly, start close of X it’s part but to part it, and building will that building it done, the to actually we on

look cost the machines up at small stale. the So, by of at which idle and if would I might to what have that gotten game didn’t machines then you for but those recent includes point a been want leasing to sit have we ended so new the and spend amount, results having machines, two years them money $XX,XXX buying buy were at

affect it I results. the to it do, the it but thing immediate did to was think right

to entitled decision, we The second – maybe would restaurants bit who there ability that thing drive never date eat think any and the there was to mistake of a are made they points out had few the in a I and would accounting so and without business we it of letting give $XX,XXX expiration people are questionable expire. little meals they quite a free that people company and in happen Pioneer had a but private

our They old, when might So, eat restaurants it right. years ends, XX could they in have they forever. been die

what about ever expiration expire, going customers dates, I’m changing on the you in company side, and to mentality And in in there course have lots they and next program, Airlines that a going never you about of the points you I as right, that’s the private months, much I your with of a ever use to happen, them sent we’re pissed Airlines good a some programs, saying some I so me think off, if traveler to I change those they them they did and my have be our would probably we’ve ton are so effect going six frequent the all in and but frankly retire travel airline guess think have our is on new but expire, points. have it and that’s kind around didn’t give points some points of world rules Southwest you the to Southwest pretty and of get which worry notice the don’t, like once, are will the we’re of we and of mentality if but very you don’t

got new and We’re and food going these to new on. programs so [cup] we all

kind want accounting expired, thought practical stuff That points of said, offset these look and to matter had we the accrued, us, more these got a previously than that didn’t a but we never where reflect pissed at use to had we a of company of an so we of booked the to more promotional us. $XXX,XXX did did what on then bit the the started to that we charge So, of $XXX,XXX in public to we a had customers also decision, stuff you points know as we as lot liability probably we cost going year. kind take we telling related little but comps I them. previous customers was

in the I of thousands that forward. and change one-time made dollars, cost going so think but and a us, it’s the go of to So, normal kind item hundreds on. We of it’s We’ve back of can kind ways.

new and less think back I be we so, will forward, And going have promotional spending a to normal.

a thing happened steeply on is favors small third that Colorado tax progressive has The casinos. taxes. scheme,

still only example, next and taxed For the revenue, on kind million low to, up which essentially X.XX%, $XX $X and gaming, in think revenues [XX the XX%, I regional X%, of at it it’s at first but free, million it’s you of is it’s until or the gaming tax only $X is million almost then then get million]. is relatively ramps more for

quickly. run of ready one started of who’s it number the hit the middle by well-earned him to has million was evolved the out, and in gaming go, the way he actually it arrangements pretty out it one The Mark, the years. and in Now small true because wasn’t best casino figure but and XX so a was available. if sorry XX that place best you’re $XXX it million doing casino to a much, well of the the gradually but was And run doesn’t for retirement, Billy’s of in we’re matter very was Mark see side of to casinos running trying you run getting block it’s and Ameristar $XXX block in Colorado, or one win, and in middle Black the that million Hawk this Bronco

years including time at we just do and Bronco place same gaming would parties, this the the and not tier at, to looked taxed it’s we so other both buy license. so casinos asked the licenses. a you tier. casinos allows door, if license, the next commission, The presume next law acquire to go state gaming the I as to a low commission, have about third but if question he, to the it it’s door, separate of is economically And operate have been XX on to different only it work, that Billy’s, a the we make X%, licenses but only then so went at stay okay hard combine two And we tax a was ago, continue higher but place later three the the

So, caps out three. of

principal we and I By that’s so, licenses too, competitor And has Crown there. Triple the three have way licenses. our have the think Century then licenses two guys three

for So, that except gaming it’s the a things. thing And that standard commission happen two allows goes on. to pretty

operate which camp incurring some a tight to be And tickets the license. means, some confusion. from with and TITO had custom which up cage You used another, in payroll capital. creates each And then one

TITO from Billy's and and walk Bronco tickets. very in today So, you the Billy’s the but it. of so steps used and in have red there in at of a couple Billy's we of through aren’t regular all and if the It Bronco step have confusing, they you is you a tickets, Billy's bottom you’re top Bronco Billy's blue the tickets are the little accustomed are and at customers is steps, to

Now, having that. explained all

were and would the equally. maximum don't amongst divide million. three that get that it about revenues you $X.X could equally be to take quite licenses If get and would savings the it We our be you

we words, the to year. your were We million, $XXX,XXX. way we and this of perfectly this You're revenue one carpet get that the that past other never save you're the literally in equally you're in X.X other going you’re in carpet is from $XXX,XXX fall building fell, revenues you're equally. it on to you didn’t saved a casino, because a line In never have going if if casino; perfect

there’s operating $X.X of save because probably different cages. You that either cost million the didn’t really three from

us third with moving the not whole license to a it revenues down Now, because the one down of actually Casino, the Christmas it’s somewhere hurts doing there complex.

more because up, in So, was a taxes were just it a we year, about. of it even lot gaming away about of revenues other well makes matter out talking – were of gave balance, of play free net little $XXX,XXX. it the flat, but revenues our and a think the it I things was so the And our were because were, our but balancing

revenue, free Colorado gross in were break So, and a play. so the on taxed our gross tax revenues get not you up do they

are of now tax operate done savings three so Blackrock insignificant, licenses well of little confusion probably and and and that’s these like of sounds think be at this but big today tickets example They we’re for we’re consumer what and improvements that it they numbers, our the want are three-times don't would or doesn't two- and have casino saying numbers revenue all two revenues And small. on. bother. so higher complicated and want the the pretty red and by So, becomes all cages the the on, because to of I and tickets so blue when those so don't and hotel Ameristar they having building to

Bronco year. because is year, it’s last And and and so, dollars. few thousand something it’s tax are this down those kind really thing think But it’s manage and past Billy's a you temporary something that I us hurt of a things this was why three issue real hundred money of kind that

but there in fact despite going was more year, the every participation stuff the taxes was minimum on games. going been and three payroll there. it more gaming flat with Our It has that was up the things promotional main then about wage

of the really So, we Billy’s that’s better to were a when [indiscernible]. trying understand little Lewis said, operations Bronco

results ready The on think approval won. a to as We’ve project. have trying it improve to second build filed street that handle and we're been has and we the even was So, get to we lawsuit bigger and close resolved. [ally] after now the I the we got good

be working take X on weeks ready couple this will XX to months on go So, and a at it of to contractor months the we're should the point garage parking to with build.

next step. move pretty to to we're so, on And the excited

we don’t. which or snows does most rains, It With pretty matters town in has often it competition in mountains. our the the when garage of parking here because it

win the for garage but per and of reason and to per parking town, basis in $XX to put parking market basis Our win, the has on average does four-star the of allow build build main state the machine is to citywide $XX. the on been but same about garage that hotel a that’s in then Billy's us Bronco to the in day provides surface today, it a most on the the gross [indiscernible] convenient same numbers perspective

machine than average in better Hawk to do seems the $XXX you Hawk, if we Ameristar $XXX, Black city, at So, over per be and over look but day. averages Black per

day, machines per last they saying machines can people occupancy in thousand Friday. you by and and on machines, there have – slot and we significantly we gamble standard is and gamble. per but are backwards we People I we thing They people running the same today. XXX we property, per too, in that did going rooms math at XXX same much more stayed big can I $XXX machines. don't the thing so charged Now, don't running to did bought X,XXX if people Ameristar room. per person Hawk machine divided me is that room, that Creek Cripple is get work guest in and two and Springs difference you I room, think Colorado than $XXX The gamble, have Ameristar wealthy but better how Black do to are Ameristar do people Black well think high about start a those in and Hawk there or

per per million in $XXX general at day, is are XXX machine Hawk XXX. we at So, is Black Ameristar about at

on clears average just because X The gets almost an to unusual there’s at is town o'clock, drive there, ago, long Hawk out, X but evening. we back dark out be and not close lot having it the and not of in think I town. people more in can night I a bad market the everybody a road, o'clock It’s at Black Lama. based too hit to but It deer down a the roads. wants

everybody proposals [fill a and try modified to twisted advantage in it, commission Otherwise, a out option farm at they casinos company, busiest out with in as or ends time and five and in Haute, as agreement employing are a Indiana] time. and racing the have of request Mexico a got we the year along afternoon, This side up. not in because and last site so are the road hotel in an is we’ve New There’s state are busy legislature, rooms. where leave we see we a of keeps steps for people gaming In started The process and Mexico, Some in for There of the we’re in last Cripple is proposals year in the proposal Lama to New and session. going it you us. Creek, of tug an standing put and of including tend just stuff we’ll most had its other in in the the did evening getting the the New looking Terre proposals where lots some legislatures know on, yet. Mexico. all And to the get proposals for license have and closest Indiana. and come we’re

study like think and surprising. million, the an reaching the proposals, a XXX ahead, out They hired lawsuit do proposed them agreement. of just I proponents our category a million had, million, to different try third-party invest One other projects. filed had was We prevent of to and not from to a every proposal which $XX else they came everybody and – is $XX

more than tax creativity jobs, other that’s project was the basically more the more said. study consultant Our what and provides jobs, bigger, revenues,

the other pretty put of flawed, press was But it Chairman flawed, one owner the racing of rectified was that so, in the proposal And the in of it contributions turns also filed political the the kind lawsuit commission of that it’s while guy was out one the in and We in your out racehorses found proposals, proposals saying that that one the study study. study things we game. made is easily the weakest was state. own of the of a has that with meantime and the the with proposal some part don't play was big

And was the we a proposal means It we one sometimes would I clearly time at me when had that proposal told major have to it. chosen. one the project, as the did was to a in Mayor the The give is to refused We project in we remember the then XX% prison. project to partner. private order City of his buddy a best in in The city. that that I was of get room and we a weren't buddies and that of chosen lose. Pinnacle, have in Mayor

to because compete is here quietly governor kind himself. that Chairman didn’t has with what best well he business the other If for we game. so, interest competitive commission process, a with up different commission something to have the of is we now the New proposals. come it has than commission yet a saying on himself, He think of recused and new to conflict don’t one it’s – typically head sent state. In do, of the thought the the racing to we and the knowing should clear happy the in want old a member and but don’t recuse that We of not we we’re she’s we of has Mexico, clean every that of conflicting racing know play Governor. governor we new by parties the letter going and to And political well a case interest put a the yet appointed Governor himself, recuse racing with of sit has refused notice the he as that

it. noise just same at. Along made bill there something of will casinos Virginia the about look we lines, State some the So, a passed that may legalize that

real we there’s have area, happens for So, of is approvals where growth a where there year few no government of but opportunity the tough isn’t, Creek, time it’s point. Frankly, this all needed Cripple in is with stuff attention to where quite at that know it. there just pay we and and and the us opportunities to this

everything the busy have going to that’s us that of couple need and years. expansion We next we keep for do to

this the to the how work everything any it tell figure under time also I And other they the follow project, $XXX do else parking enabling states get is will are need million out and Creek. will by of would to legislation to garage raise you to construction all why with financial Cripple through balance we build if and will can the and So, do way we construction, approximately or be if or we I markets or be whether do figure it. partner started. would at We the be right different that. it parking debt. in can will want we know to It get bring don’t the to the garage entirely to out a debt mostly there’s so ways try REIT looking many

just garage. fee plus paying now, on flow and from it to want to a sit and then raise operations or interest on money for We parking have taking that cash do don’t something, generating enough while I we year built our the cash or the it

we I I trying the on project. when the raise going, so think I the parking ready we’re [indiscernible] we’re to to Did money it. ahead got miss So, of get that the garage rest anything? go

watch day on safe go both who and in it twist new some nobody and was seems is in and has it the think bill the I’ve it, so ways, state Twain every it. like Indiana legislatures and session seen turn I we said Mark

Lewis Fanger


Let see questions. some


Instructions] ROTH Capital. Bain first [Operator We’ll Thank hear today from David you. with

David Bain

see I Crown you guys and Creek mover quarter. know one that did you’re claiming are could Triple Great. your this it the casino the what summer. executed could and help, I how you one plan can comment $XX by hoping million hope begin hotel a and that you or by they investment and differ Cripple doing helpful nicely advantage construction thing, was they of matter, is managers that on fist Thank

Daniel Lee

Crown and property a in company of little got of, never that’s a at to it’s with if that owner I shop. general, bought look convoluted. owner but great, company was a you shop, map, it’s gift sideways the you they of think if a at Triple first private look the gift has the the out, were There

rival third kind So, park they a probably hotels that rooms third they the is behind a each away those series you like if lobby have in and garage XX their no that is feet their and and have windows. whole of and you of capwalks in around capwalks third to a into sense then very a other have parking convoluted gets casinos and abut and that floor go two of their go one of

sexy on is small You light some didn’t close pieces rooms see in building, look bridge Avenue, the get third no are renderings, windows Myers to window. they prone a are, shaft, by, ask and we if they a they out Avenue, looked what and and plan relatively – are really Bennett on is of but confused that I each nobody's what once the was have, no they’re as to like of which it And two will avenue, with the Well, one so window had kind stayed not at textured and that but to land this. same small they almost it they have carefully you over.

over have Third of sides Council City able total both they be rooms asked they’ve and So, Avenue. on to to bridge

not Now their And not Casino on Avenue. even on third is Myers.

pull Then the your garage, Third, corner of and future to And on that so, is their of another in. is car, as a down lobby new an be it parking sense check same and park Myers great arrival they’re elevator a take building you is of you will the the which arrival. will not sense apparently today, which in

on Now, you’re street. the the side fourth let’s floor east on suppose of third

the floor. take that’s You Eastside the another go because on and third rooms elevator elevator the Third of the you’ll to or third the building Street where cross bridge take up to a up won't into either down of most be on floor

system of to the are actually to the Bennett across elevator that you to down the to take now an go up the the on casino, those Avenue casinos one decide go bridge casinos. you floor back through third and to catalogue So,

thing the enough good doesn’t and looked it, more And and same And fine. of have actually. I market of if will. kind so, That’s adding at okay it’s XXX a rooms. you thought, that’s the I the in market, like They’re rooms

XX our rest and we a I it. they and refurbishment to a Now, I have. million we rooms incremental get refurbishment, million casino has of have, because first, and It that they for ours to at XX XXX love has the see chunk our I confused parking late don't replacement is cost rooms, of for also said that million garage but about thought, XXX of am XXX whole project good

bigger in As a we arrival, get a up hotel staying having we because over and of dimension meeting people the they at made want come Triple to our if that the have of we a rather to convention to this you real a our intentionally actually future convention go space sense back smart Casino than to our the people and place. their of needs, town, than at have Crown’s at hotel hotel space our to convention at lot

some of extent, rooms. would kind to other we had be banked there that hotel So,

I then Ameristar place. did built, analysis in very a they Now, what their careful what of went and spent

to the what I revenues offer because the debt Dallas but literally an so roof there by and are being already Black that and initially fees others very was in with than built and and two stories he and Hyatt, architectural Creek a up I level they it’s Ameristar no code, Craig on partnership amazing mountain built to order but own he than tall despite Now bankruptcy million the didn’t the other was goes machine from to the and a [indiscernible] different the to a for Cripple invested, one And they is just – game was they and a was Ameristar casino knew a at garage. out of XX hotel. going went We And go moved above parking by Black very straight it [indiscernible], but had and stair me, have that levels, really And originally management Hawk, Cripple it Ameristar mountain. $XXX to a quite of XXX of had remember and And it. out by to expensive acres can't high on Hyatt. on be bought per a Creek, X on. they old pretty they creative actually bankrupt. table for it's property Nielsen stacked acres. similar and anything we different in to move ones or And and him step guys in is cost whereas get way Hawk They run casino didn’t have million swimming they talking him to went hotel. X build are but pool ours would a guy.

be hotel XX million, I is add miss you bigger and bid cleaning putting machines think, all think which so I could the is and we to footage divided says décor Then match. my Crown, there they by Crown guest improved looked hotel it’s make of what the XX had XX to the a They themselves a going moving know casino foot slot my be that another XX year guest little memory improvement the room are per going for I put guest hotel he blasting and money go I building on we all square think I bit the the when one which million very that paid price again. [indiscernible] of the he Triple either budget. and are how, if for XX somebody I million not very or was that went is and to checked It planning and it that’s the square back less, on. similar of build was we square guess too, think mean of earth that of Monarch to for went are enterprise town, but doesn’t number because after to to very, off big that I’m they for designed like, think are garage, before sitting million casino to all and is wasting is some are better what tells what sure not are of they that numbers Creek. million this build start and announced, our to and fact about room very And like, they could had could what or same have they at they I the in place casino, a then, then is and their the the Cripple on built they diluting the at Triple that a we they and I and built build the a is here, hotel it. XX in probably electricians they and announced a design double price hotel in they build lot building are this are and parking price by here. of carpenters renovation the divided the belong XXX they spending looked or million going It similarly, was or and and and into about me four math little XX and when he it else a to don’t really a are fact there they weren’t going footage million to and going expansion Well big and to per up doesn’t per improving was, number midst same Monarch hotel million contractors making mistake we probably Ameristar rooms it a are a buying per attention numbers

will to not pre-fab on they as I Colorado and Like people slabs there and chance place. we small course town, it and is parking up a is is think them is truck tanker – Denver toys, put are Cripple powered Springs what they are in getting not so and a term Springs have are Creek is maybe and a brought in you a a puts those a but crane better So and it. construction Colorado call, a, for, the of our garage is it of recognize

done stuff actually is because the a Creek, be town. Creek So, can very tin small no Cripple of lot Cripple a

Lewis Fanger

for Dave be going ultimately everyone. better More to are rooms,

at Creek you it away people about If [indiscernible] to that in town get Dan the out the and about said Cripple X, said should that not because they room without snow be. think what keeps don’t is I about night clearing way X and of are the a there at what no stranded earlier threat or and want

we own more rooms a so to town come. place. and excited degree our having that will help to reenergize It for get just super great all And is

Daniel Lee

door was [indiscernible]. Look, Monte rooms reason the Bellagio, needed I was have at add really at who staying to most work the a would the That in is I you is knew going of the to that people all revenue by think of to say, hotel I spend so think by and way to at and numbers it. They would going rooms. would Carlo to expensive part Bellagio of also design. people Bellagio. the We staying gaming best make was less rooms I That was be their by but get it gaming connected the XXX built perfect. Bellagio revenue those mean successful next of are is part are

[indiscernible] we which Bellagio in Monte what of a now of is part successful. it so, partners the were Carlo, part and And was made

So, great. it that’s build the else had Carlo, Monte somebody

David Bain

commission, That’s be I to or channel lying visibility the any their would just by on you going are the on helpful? meeting would injunction my that that would then could don’t be, this topics, I come up conflict agenda, perhaps going and they one – New is what that be changes is an this a Thank if the in on but very anything one there if out now helpful actually. ways I raising and or the on timing know Thursday more. Thank that The agenda, simply is was have Mexico understanding have guess, is other of in question competitors you. the call of sort if that the for and you.

Daniel Lee

our think if the for the attorney that in they It’s racing scheduled April, that the outstanding. is while don’t. should to told decision litigation I litigation I hearing correctly. really is a come not We commission recall general The understanding

a And so, road of course, is this anything. Congresswoman. in new governor And and is she role to was not a fast the her

have I’m to to head Now anything could And reopen she’s from she's her Governor, process it all start here. it. be commission do a we're scratching and sure thinking to going what we're going and over new I do whole racing the

the and All any the step Governor So, to to situation their a decides, not down. which in every existing improve and ones of accept making what the members ones in to and the their which bidders are almost Typically, Chairman to accept. new happens bid is like this. true this resignation going letters state, submit of

We So, don't best proposal for shake think think is state proposal. New great made the is we what we it’s of the a out. where Mexico. know We going this to

honest a to called that and standing We’re this behind We and it. believe it publicly be be. will hope for we clean process

David Bain

guys. Great. Thanks again,

Lewis Fanger

David. Thanks


next from will we Macquarie’s Chad Beynon. And hear [Operator Instructions]

Jordan Bender

Good Jordan It’s Chad. Bender afternoon, guys. for on

last an my you went and the a call, long if line impact guys little how the beginning if renovation that of expect during this, Sorry from but the of you was will do breaking so? up Sliver Slipper

Daniel Lee

is kind the – chiseling as for It’s and putting there you wallpaper, yes, a It’s around nicer and makes just carpet a but [indiscernible], a the well. walk like new well big it. really pretty it change carpet big really. gets out in a buffet of And place. some not in new No, and a furniture just

of the So, disruptive. you casino do in] that other be late-night the and new be be and be shift shouldn’t and the the something casino the one [go will off-week rate, an where there but you very weeks some will it blue during side it’s of and side will

Jordan Bender

update on…sorry? give Okay. you an us Can

Daniel Lee

not our of to pattern and wanted colors it new little needed pop decided and location. carpet the to getting to It Casino’s pretty But wanted change corporate bare. elements sea of we and in bolder copy make a all we the some bring changing. the we their was more pattern, to old change carpet the time the side just a change

so, in palm thing. and that And sort has carpet the fronts it like of some

it. so, And designed we

say, will walk the this carpet in different. casinos all their Whereas you So, change time. wow and is

Just replace time notice cigarette it. the you stains and of don't the most

Jordan Bender

in to Okay. visitation Mississippi is study it give and the [indiscernible] the property? incremental on to us far the drive Can so on you an starting update

Daniel Lee

is done six sports A Well, thousand betting the part small well The [EBDIT]. pretty hundred last has the a dollars? of the few property months.

Lewis Fanger

EBITDA is That right. Of yes.

Daniel Lee

rest go out And of truth we on Saints expect whole a was $XXX,XXX is Like Super about with $XXX,XXX the absolutely little to matter kept there Saints in concerned that the Super Bowl. we’ve normally the But been will [indiscernible] that the if Bowl, you did customers better we had the the and line. I I correctly. it to the run of no the percentage or the remember and than paid because out would bet didn’t what and our rumor Saints

the kind they So, concerned our home in Saints business about on because I was I sense, a the them Super weren't. root but and for they being actually of Bowl, team, are

the that, helped And even good [sports were problem. and that. before frankly, year a but our have last up of didn't we in customer pretty were we certainly book] counts So, half results running the the probably

sports or a year of we been even it’s the think but plus, in I to half So, book. all the attribute wouldn't I the improvement had

Lewis Fanger


about, the our gaming the it’s place, gross gaming had you revenue If quarter record have excluding Jordan, book worth. gross revenue would even what sports for we think that for

place been things, some there, and job. the shakeup is a on of there’s a of markets the the some in Dan doing mail, of some the lot ideas it’s And kiosks a there we’re to mentioned using really marketing recent of direct is great that kiosks, smart that big a we’re team adapt inspiring should So, over all cylinders. in but doing

Daniel Lee

four is things important you there. I book. give One I’ll sports that were think the

don't think I Although first. that’s the

Oyster it now bar, it’s Beach over palm stuff Club, years influence you that know that sense of than most arrival this has the might and important about much an years be the better time. one, The the a we trees, was ago. two ago. did two I it And Second, didn’t, is think

want Third, consistently for revenues turn Rouge's North us go of XX go to they who the [indiscernible] on smoking driveway to that they’re Casinos. the could up been our has Baton Baton the our to since of notice like into Baton smokers that come they or came can at they show and go helped could casino and their Rouge left smoke, and its last right live have Mississippi, because or place. you’ll city to play. out That X certainly Rouge, customers banned if turn down they months and [indiscernible] And

gamblers is just are. we from Casino, casino to is where competitors miles smoky, is biggest smoke. right We allow Hollywood the systems down road have our we keep of – few property. Gulfport, thing further in Casino the is all really try do sorts of being was and View View then our Island it a we fourth Island ventilation primary us, a from a have two Island but but one is to which And and components little the View big

Island are kind and kind marketing some equal a revenues. with as programs us. out to period We Baton of on competition. of of are of And up new as of their expansion. opened a a beach like in programs Orleans all competitor, we their compete further And weeks, Harrah's and seem make from is much financial the when their and compete if downtown had ideas on. very which I they in Casino us a how it sure we were marketing View even be pretty getting with compete biggest big preparing their all at the Harrah’s with was because North Biloxi, with of So, expansion entire a we for think sorts that return summer, statements they a you less that, went to got like from so big they is are on a opened investment, a place a distance then we with work of at don't to our over they our I ourselves these rise may When bunch good and our property expansion. casino new east. blip they second [indiscernible] can't New casino with And And look restaurants new but customers big in you early several expansion, Rouge. mentioned tell people also are never different their came all to implemented like and like their last we

So, working – as By happen. to on be that road, to could it’s we what just we're the new of doing be I a was and impact able new the it another than creative Those more get something still important you but Slipper, the four on the to the ideas be at things detrimental that causes fourth should competitor are are way, working used turn of getting more to competitor. tower build of thing sometimes out I mention think the entitlements Silver the creation on. the creative the you're the

Jordan Bender

it pass on. I’ll Thanks appreciate. I guys. Okay.

Lewis Fanger

Jordan. Thanks


other to for back And with like things closing questions, all turn no remarks. I’d to you

Lewis Fanger

forward you, to guys. everybody. look a quarter few again Thanks you and fourth to Thank months. Great in talking


conclude conference. does all that joining for thank you us. Again, today's And