In today's episode of the Yet Another Value Podcast, Host, Andrew Walker, shares his thesis and presentation on the YAVB 2025 Idea of the Year: Full House Resorts $FLL, owns, leases, develops and operates gaming facilities throughout the country.
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Disclosure: long FLL
Chapters:
[0:00] Introduction + Episode sponsor: Daloopa
[1:35] Introduction to the Idea of the Year of 2025
[3:07] Quick overview of YAVB Idea of the Year: Full House Resorts $FLL and how to win at regional gaming case study
[18:11] Why $FLL interesting/unique opportunity to Andrew
[23:38] Why did $FLL invest in Chamonix
[25:52] $FLL portfolio casino: American Place
[28:22] Upside / what are we playing for
[30:39] Why does the $FLL opportunity exist
[36:06] The new markets already ramping: American Place and Chamonix
[40:53] Risks: Chamonix Ramp, American Place Lawsuit
[50:50] Unlocking Value in $FLL: sale leasebacks
[56:47] Unlocking Value in $FLL: M&A
[1:01:11] Synergies (if a strategic were to buy $FLL)
[1:02:57] Final thoughts
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