Temporary Casino North Of Chicago Is Open For Business

The Full House Resorts American Place temporary casino is finally open for business. The Temporary by American Palace officially welcomed its first guests on February 17th. As is the norm with many casino openings, the Temporary Casino welcomed guests on the 17th at less than full capacity. 

On the first night, for instance, roughly 80% of the slots on the floor were available and only 60% of the allowed table games were set up. Over the next few weeks, the Temporary will keep adding the number of available table games on the casino floor.

It is also expected that the hours of operation of the table games will also increase as time progresses. Currently, table games at the Temporary Casino are scheduled to run from 2 pm to 2 am. The Temporary at Waukegan is now the 12th casino facility in Illinois and is the only casino property in Lake County.

The massive white tent that houses the temporary casino facility contains 1000 slot machines, as well as 50 table games. Inside the big white tent are also several restaurants such as the Canoe Bar, which is located right in the middle of the casino gaming floor. 

Currently, 2 restaurants are open at the temporary facility namely Asia-Azteca, which serves Asian and Latin cooking, as well as L’Américain, which serves the best American dishes. A new restaurant known as the North Shore Steaks & Seafood is expected to welcome guests in April. The North Shore Steaks & Seafood will cater to fine dining clients.

The permanent casino, on the other hand, is ongoing and construction is slated to keep going for the next 3 years. Once complete, the permanent facility will feature a world-class casino, a luxury boutique hotel, as well as a live entertainment venue capable of seating 1,500 individuals. 

The permanent facility will also feature an array of restaurants, bars, as well as additional enmities that will all be included as part of the final American Place complex. Last year. Full House announced that once finished, the permanent facility at Waukegan will be one of the largest casinos in the state.

American Palace has been relying heavily on the Synkros casino management system that was created by Konami Gaming. With Konami Gaming’s technology at the core of the Temporary, the new Temporary casino has allowed punters in Waukegan to connect to custom rewards, offers, and messaging across the property.

Full House reports annual losses in Q4

Just recently, Full House shared its Q4 and financial report for the end of the year. For the fourth quarter, Full House’s casino revenue dropped to reach $9 million. This was a massive drop compared to 2021’s casino revenue of $11 million. In total, Full House recorded net losses of approximately $6 million, which was a far cry from 2021’s $5 million profit.

Meanwhile, Full House also reported that its adjusted EBITDA had dropped to $3.8 million compared to 2021’s total of $7.9 million. For 2022, Full House reported combined net losses worth $14.8 million.

Fortunately, with the Temporary by American Place up and running, Full House expects its fortunes to start shifting for the better. So far, the local community has received Temporary well. In just the first 2 weeks of operation, the Temporary by American Palace reportedly welcomed more than 40,000 customers.

According to Full House, the Temporary Casino by American Palace will help to improve the company’s financial outlook greatly. According to the CEO of Full House Resorts Dan Lee, only 3 casinos exist within a 30-to-90-minute drive of Waukegan. 

These 3 casinos have consistently generated between $120-600 million in yearly revenue. Since Temporary by American Palace is expected to be one of the largest casinos in the region, its performance moving forward will probably be much higher. 

As mentioned above, the Temporary by American Palace will include 1000 slot machines, as well as 50 table games which will be transferred to the permanent venue when construction is complete. Once fully set up, the American Place will the only casino facility available in Lake County, which boasts more than 700,000 residents. 

Apart from the Temporary Casino in Northern Chicago, Full House is also looking forward to the opening of its luxury casino in Cripple Creek known as Chamonix Casino Hotel. Situated adjacent to Bronco Billy’s Casino, Full House’s Chamonix casino in Colorado will be one of the biggest in the area, featuring 300 4-star guest rooms, as well as several VIP suites.

This casino hotel will also boast the first luxury guest rooms in the casino hotel market in Colorado. This new casino facility has been designed to appeal to travelers from all over Colorado, including closely situated Pueblo, Colorado Springs, Canon City, as well as the Denver city area.

The new Chamonix casino hotel will also include a massive meeting and convention space that will host conferences, concerts, and other entertainment options. There will also be a big rooftop, a luxury spa, and a self-parking garage that can handle more than 300 vehicles. Full House expects to complete the casino hotel at an investment of approximately $180 million.

If everything goes according to plan, Full House expects to have completed the casino hotel by the second quarter of 2023. As the construction of Chamonix is underway, the nearby Bronco Billy Casino will keep operating. When Chamonix is finally up and running, Full House will shut down Bronco Billy for a while to renovate the 29-year-old aging casino facility.

In the future, Full House is also planning an expansion of its Silver Slipper Casino. Full House finalized the terms of the construction with the State of Mississippi last year to lease the tidelands adjacent to the Gulf of Mexico. This deal is what allowed Full House to start construction of the $75 million investment of the new property.

Final Thoughts

Full House may have experienced a slump in its Q4 revenue. However, with new casino facilities in the works, its fortunes are expected to change. Both the Temporary in Waukegan and Chamonix in Colorado will help to significantly boost its revenue in future quarters.