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Full House Resorts Rising Star Ferry Service Commences.Finally

|Includes: Full House Resorts, Inc. (FLL)
Summary

FLL ferry service at its Rising Star Casino commenced this weekend with trial service free to the public after finally receiving Coast Guard approval.

According to the local paper the ferry shuttled 150 cars across the river in its first full day (Saturday).  Ferry hours were from noon to 7:00pm.

While likely not a game changer for the company's revenues overall the ferry service could give a boost to what has been a stagnating casino property the past several years.

Rising Star Casino ferry service commenced sailing over the weekend with free trial service which runs through Thursday October 4th. When normal service begins the fare will be $5 one way and $8 round trip. Patrons of the casino will have their ferry fare comped with qualifying play.  According to the local newspaper the ferry shuttled 150 cars across the river on Saturday. This traffic is above my expectations for 50 cars per day but it was free to ride and new so probably not prudent to draw any conclusions from that data point (other than had it been less than 50 that would have been a bummer!) The real opportunity is to bring more patrons into the casino where revenues per capita run a little more than $60/day. This may explain why the share price is up this morning, but I haven't seen the news picked up anywhere other than on the company website and the Rising Sun Recorder newspaper. www.theohiocountynews.com

Disclosure: I am/we are long FLL.