Morgan Joseph Reiterates a 'Buy' on Full House Resorts (FLL); Like the Way Full House is Shaping Up

Morgan Joseph reiterates a 'Buy' on Full House Resorts (NYSE: FLL), PT $5.25.

Morgan analyst says, "Based on slot and table win data and the EBITDAM margin given by Full House management on the call, we calculate that FireKeepers (FK) generated net revenue of ~$66mm and EBITDAM of ~$42mm for the company's 1Q11. Full House earned $6.4mm in fee income, above our estimate of $5.8mm. Management stated that Gun Lake had no impact on results, and that trends have not changed thus far through 2Q11.

For more ratings news on Full House Resorts click here and for the rating history of Full House Resorts click here.

Shares of Full House Resorts closed at $4.01 yesterday.

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