Chamonix Making Gradual Advancements, According to Full House's Statement
News Article: Full House Resorts Navigates Challenges at Chamonix Casino Hotel
In the Colorado mountains, Full House Resorts' Chamonix Casino Hotel is facing operational challenges as part of the company's broader financial landscape. The resort, which has a 300-room hotel, has seen a decline in certain revenue streams, contributing to a net loss of $10.4 million in Q2 2025 [1][3].
To address these issues, the company has implemented cost reduction initiatives, with a focus on $4 million in annualized savings [1][3]. Additionally, a new management team has been introduced to Chamonix to address operational inefficiencies [3]. Revamped marketing efforts were also launched in the third quarter of 2025 to enhance revenue growth and profitability at Chamonix [1][3].
Despite these challenges, Full House Resorts remains optimistic. The company is actively trying to relocate its Indiana license and has sold Stockman's Casino in Nevada [1]. In a positive development, Chamonix is expected to be cash flow-positive in July, despite the impact of the new management team not being felt until the third quarter [1].
Meanwhile, Full House's other property, American Place, is performing well. The company is considering starting construction on American Place before issuing the required construction bonds [1].
Elsewhere, the Temporary casino in Waukegan, Illinois, has seen growth in its database, with 107,000 names now on record [1]. Changes made at this casino include downsizing one restaurant, adding a comedy club, and transforming an underperforming area into a poker room [2].
Despite the operational challenges at Chamonix, Full House Resorts' CEO, Lewis Fanger, remains confident. He believes that the no-tax-on-tips provision in the recently passed federal budget will raise take-home pay and lower the pressure for salary increases [1]. Fanger also expressed that any additional money in customers' pockets due to the federal budget is a good thing for the company [1].
In Cripple Creek, Chamonix is growing gambling revenue without cannibalizing the market [1]. President Lewis Fanger believes that Chamonix is "100 percent of the growth in Cripple Creek" and that the company has been successful in reinventing Cripple Creek's image [1].
However, Midweek occupancy at Chamonix is described as "anemic" [1]. To address this, the company has implemented measures such as constraints on overtime, restructuring pay periods, bringing some ad work in-house, and cutting back on network-TV buys in favor of more Internet-banner ads [1].
In a potential setback, if Illinois forces a shutdown of the temporary casino before the permanent one is ready, Full House may keep the American Place workforce on the payroll during a "modest gap" [1].
Looking ahead, Full House has not expressed a preference for buying either Maverick or Century, two casino companies in flux [1]. Despite the challenges, Full House Resorts remains focused on growth and cost management to enhance profitability across its portfolio [1].
[1] Full House Resorts Q2 2025 Earnings Report [2] Changes at Temporary Casino in Waukegan [3] Full House Resorts Press Release - Q3 2025
- The no-tax-on-tips provision in the recently passed federal budget, as noted by Full House Resorts' CEO Lewis Fanger, is expected to raise take-home pay and lower the pressure for salary increases, benefiting both the company and the casino-culture.
- In an attempt to enhance revenue growth and profitability at Chamonix Casino Hotel, Full House Resorts has launched revamped marketing efforts and introduced a new management team to address operational inefficiencies, while also focusing on cost reduction initiatives and casino-games offerings.
- Despite the ongoing challenges at Chamonix, Full House Resorts is exploring opportunities for growth and cost management, including the possible acquisition of other casino-and-gambling companies, and remains committed to navigating the complex business landscape of investing in the casino industry.
