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home / news releases / FLL - Full House Resorts gains after B. Riley tags it with buy rating

FLL - Full House Resorts gains after B. Riley tags it with buy rating

Full House Resorts Inc.
B. Riley Securities started off coverage of Full House Resorts Inc. (NASDAQ:FLL) with a Buy rating. The firm forecast ~$150M of baseline per annum property EBITDA by 2024 vs. ~$50M in 2022. Analyst David Bain said significant EBITDA growth catalysts are fully funded and expected to begin in about five months with the casino operator's opening of a temporary casino in Lake County, Illinois, followed by a casino resort expansion opening next year in Cripple Creek, Colorado. The management team at Full House Resorts (FLL) is noted to have pulled off casino opening successfully in the past. On valuation, Bain said that despite projected peer-high 2023-2024 growth and other potential upside optionality, FLL trades at a low EV/EBITDA valuation in comparison to peers. That low multiple is said to set up FLL for a significant stock appreciation opportunity.  B. Riley Securities assigned a price target of $20 to Full House Resorts

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Full House Resorts gains after B. Riley tags it with buy rating
Stock Information
Company Name: Full House Resorts Inc.
Stock Symbol: FLL
Market: NASDAQ
Website: fullhouseresorts.com
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