Full House Resorts (NASDAQ: FLL) is swiftly gaining ground in the Illinois casino industry, a market that stands as one of the biggest in the U.S beyond Nevada. The rise is primarily attributed to their short-term casino, The Temporary, which has quickly become a top gaming destination in Illinois, attracting players keen on games such as slots as well as poker and more.
The Temporary’s Rapid Ascent
In February, Full House Resorts launched a temporary version of American Place called The Temporary, located in Waukegan, Ill. Since its inception, it has climbed to the third spot in terms of attendance among gaming venues in the state. Despite being sixth in monthly adjusted gaming revenue, it draws on average 70,107 visitors monthly, surpassing Hollywood Casino Aurora and Draft Kings at Casino Queen in East St. Louis.
Though Rivers Casino in Des Plaines leads in attendance and monthly gross adjusted gaming revenue, The Temporary averages $7.5 million in monthly gross adjusted revenue. These promising numbers signal a booming start for Full House’s latest venture. Once the permanent venue, American Place, opens, it will be the only casino in Lake County, home to over 700K residents, and all gaming assets from The Temporary will be transferred there.
Boosting Attendance with Sports Betting
With the football season fast approaching, The Temporary’s attendance could see a further increase. Circa Sports is preparing to launch in Illinois next month through a partnership with Full House. This collaboration will bring one of the most prominent names in Las Vegas sports betting to Illinois, as Circa will operate the retail sportsbook at American Place upon its opening. This addition could potentially generate more revenue for Full House than all its other properties combined.
Analysts predict that once visitors experience The Temporary, they are likely to eagerly anticipate the opening of American Place. In light of this, Full House may ramp up marketing efforts to attract more patrons and encourage repeat visits.
Economic Benefits of The Temporary
The Temporary has delivered significant economic benefits since its introduction. It has provided $3.5 million in new revenue to the state and another $1.5 million to North Chicago, Park City, and Waukegan. These figures are expected to increase notably once American Place opens, bolstered by the addition of Circa sportsbook and new dining options.