Texas Capital downgrades Full House Resorts to hold on debt concerns
Texas Capital analyst David Bain lowered Full House Resorts’ rating to “hold” from “buy”, according to a report, and cut his price target to $1 from $3.50. Bain cited uncertainty over debt restructuring and financing for the planned American Place casino; he forecast third-quarter EBITDA of $14.1 million, below the $15.8 million consensus estimate.
The downgrade and financing uncertainties may affect investor assessments of Full House Resorts’ debt and planned casino project.