American Place: A One-Year Anniversary with Record-Reaching Revenues
American Place is a new casino resort located in Waukegan, Illinois, that features a high-end steakhouse, North Shore Steaks & Seafood, as well as a variety of gaming options. The property is currently in a temporary facility, built in less than one year after being chosen by the Illinois Gaming Board to develop this newly-created license. The company recently received the necessary approvals to operate the temporary facility until August 2027, providing them with meaningful additional time before the anticipated opening of the permanent American Place facility.
In December 2023, American Place reached a new monthly gaming revenue record of $8.2 million, as reported by the Illinois Gaming Board. It subsequently set a new monthly all-time record for revenues in February 2024, despite it being a short month. The company expects American Place’s gaming revenues to continue to grow in 2024, with the property’s high-end North Shore Steaks & Seafood now open and overall awareness continuing to improve.
Chamonix Casino Hotel: A Stunning Addition to Colorado’s Gaming Landscape
Chamonix Casino Hotel is a new casino resort located in Cripple Creek, Colorado, that features a luxurious casino, meeting rooms, and approximately 40% of the property’s guest rooms initially open. The property was opened on December 27, 2023, with a soft opening that was designed to be the most beautiful casino in the state of Colorado. The company has continued the rollout of the property’s amenities, including completion of the destination’s remaining hotel rooms and its parking garage. The company is currently putting the finishing touches on 980 Prime, Chamonix’s high-end steakhouse led by famed chef Barry Dakake. The company expects it to open in late March.
FLL Achieves Strong Growth and Expansion Despite Challenges
The company reported that its revenues increased 66.4% to $60.0 million in the fourth quarter of 2023; annual revenues grew 47.6%. These results primarily reflect the February 2023 opening of American Place. The company also announced that it had received approvals to operate American Place in its temporary configuration until August 2027, which provides them with meaningful additional time before the anticipated opening of the permanent American Place facility.
The company’s president and chief executive officer, Daniel R. Lee, said: “After several years of construction, we are entering a new phase for our company. We opened two new casinos during 2023: American Place in Waukegan, Illinois, and Chamonix Casino Hotel in Cripple Creek, Colorado. Our first new casino – American Place – celebrated its one-year anniversary a few weeks ago. As expected, it continues to ramp up its operations. In December 2023, American Place reached a new monthly gaming revenue record of $8.2 million, as reported by the Illinois Gaming Board. It subsequently set a new monthly all-time record for revenues in February 2024, despite it being a short month. We expect American Place’s gaming revenues to continue to grow in 2024, with the property’s high-end North Shore Steaks & Seafood now open and overall awareness continuing to improve.”
