FULL HOUSE RESORTS INC FLL
May 04, 2015 - 3:45pm EST by
member
| 2015 | 2016 | ||||||
| Price: | 1.45 | EPS | 0 | 0 | |||
| Shares Out. (in M): | 19 | P/E | 0 | 0 | |||
| Market Cap (in $M): | 28 | P/FCF | 0 | 0 | |||
| Net Debt (in $M): | 52 | EBIT | 0 | 0 | |||
| TEV (in $M): | 80 | TEV/EBIT | 0 | 0 | |||
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| 116 | |
Commissioner Roger Goodell's opening statement regarding the Raiders relocation to Las Vegas
https://twitter.com/NFL/status/846434246856183809 | |
| 115 | |
Daniel R. LeeChief Executive Officer, President and DirectorYes. The only other thing I'd add is we keep looking at the debt on our balance sheet and they can -- weshould probably refinance this debt at... login to read the rest | |
| 114 | |
More on the "free" option with big upside - seems to be moving along...
link: http://eaglecountryonline.com/local-article/rising-star-game-relocation-bill-gets-a-hearing/
(Rising Sun, Ind.) – Executives with the company that owns Rising Star Casino in Rising Sun testified to Indiana lawmakers Wednesday... login to read the rest | |
| 113 | |
Yes - the way that I see it, FLL would contribute part of their license as equity to a JV alongside a developer with little to no capital at risk. In exchange, FLL would be entitled to... login to read the rest | |
| 112 | |
mrsox977, thank you for the update. So the deal structure would be: smbd puts $ in building a new property and Rising Star / FLL puts no or little capital and its licence (well, half | |
| 111 | |
FLL just filed a Form 8-K describing a new bill in Indiana that is going to be sponsored by State Senator Jon Ford. The bill permits the construction of a new gaming facility. If built,... login to read the rest | |
| 110 | |
We had the chance to meet with management and were very impressed. Some highlights:
Property specific:
- The Silver Slipper is adding a $500k pool and has performed superbly since the hotel was opened.
- The Rising Star... login to read the rest | |
| 108 | |
Thank you for sharing this, mrsox977. Have you tried to break it down property by property and put some numbers on the CapEx projects that FLL is doing? Thank you. Ares | |
| 107 | |
Sure. Here is my thinking.
At current price $1.65 x 22.8m shares out = $37.6m mcap
There was $75.8m net debt at the end of Sept. Now that number is $70.8m
This gives you an EV of $108.4m
I... login to read the rest | |
| 106 | |
mrsox977,
Thank you for keeping the discussion vibrant. Would you mind sharing your math on ~4.4x 2017 EBITDA?
Thank you!
Ares | |
| 105 | |
post rights, cash infusion and capex on new projects, shares are trading for ~4.4x next year's EBITDA | |
| 104 | |
The total purchase price is $40 million, which represents 7.5x the trailing-twelve-months adjusted EBITDA of the business through the first quarter of fiscal 2017. The transaction is expected to close in early fiscal 2018, subject... login to read the rest | |
| 103 | |
Not all EBITDA is created equally. | |
| 102 | |
FLL trades for less than 5.8x 2017e pre rights offering adjustments | |
| 101 | |
INDIANA GAMING COMMISSION Summary of Wagering and Admission Tax
July 2016: http://www.in.gov/igc/files/2016-07-Revenue.htm
July 2015: http://www.in.gov/igc/files/2015-07-Revenue.htm | |
| 100 | |
Should help Rising Star's EBITDA
http://www.nkytribune.com/2016/07/full-house-resorts-obtains-conditional-use-permit-for-ferry-between-rabbit-hash-and-rising-sun-indiana/ | |
| 99 | |
Would you describe that second lien as positive? I agree it's good to have it done but positive may be a bit strong. | |
| 98 | |
A major accomplishment for this management team in this environment. We are working through our new FCF calculations. Very positive. | |
| 97 | |
SOURCE: INDIANA GAMING COMMISSION | |
| 96 | |
All of the pieces here seem to be falling into place. The team has really executed on every sinlge metric.
When the Colorado deal closes, it is a real possibility that in a few years time... login to read the rest | |
| 95 | |
Really good numbers...especially Rising Star which is pretty impressive.
http://www.globenewswire.com/news-release/2016/05/04/836757/0/en/Full-House-Resorts-Announces-Strong-Results-for-First-Quarter-of-2016.html
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| 94 | |
FWIW his letter in the proxy was fantastic and touches a lot more. | |
| 92 | |
More good news for the Rising Star.
http://eaglecountryonline.com/local-article/rising-star-casino-floating-ferry-boat-rv-park-plans/
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| 91 | |
We ascribed very little value to Rising Sun for our investment case. The numbers there continue to improve.
| |
| 90 | |
Gaming Control Board report:
http://gaming.nv.gov/modules/showdocument.aspx?documentid=11030 | |
| 89 | |
According to the AP/CDC Gaming Reports, January revenue of $100.5 million for Mississippi’s 12 Gulf Coast casinos is $13 million higher than the $87.3 million posted in January of last year.
It was the first time | |
| 87 | |
Thanks. This was not a part of the original thesis on the stock - was simply a long-shot. The properties continue to improve and the stock remains materially undervalued. | |
| 84 | |
Looks like FLL paid for this? | |
| 83 | |
http://www.insideindianabusiness.com/story/31166575/study-supports-development-at-former-airport-terminal
INDIANAPOLIS -
A proposed mixed-use development at the former Indianapolis International Airport property has gained support from a new feasibility study. Las Vegas-based Full House Resorts says the American Place development would generate $85 million... login to read the rest | |
| 80 | |
Has anyone ever actually gotten ahold of these guys? 3 calls each time not in (not at weird times on the second two calls) and never returned my message. | |