Full House Resorts has pushed back the opening of its Chamonix Casino Hotel Resort in Cripple Creek to Dec. 26. The project’s new date for the opening came during Full House’s announcement of its earnings in the first quarter, which ended March 31.
Last November, the company projected a mid-2023 opening.
Full House Resorts CEO Daniel R. Lee said Dec. 26 is now the fixed date.
“On that day, we expect to open with a near-complete experience, with all three of our hotel towers, our new casino, fine-dining restaurant and parking garage. We look forward to welcoming our first guests to what we believe will be the most unique casino destination in Colorado.”
Chamonix to feature first luxury guest rooms in market
Colorado’s casinos are located in only three towns: Cripple Creek, west of Colorado Springs; and also in Black Hawk and Central City, west of Denver. Colorado online casinos using real money are still prohibited, though social and sweepstakes casinos are available online. There are several dozen casinos in the three towns.
When completed, the Chamonix will feature:
- 300 four-star rooms
- VIP suites
- A spacious casino floor
- Fine dining experience
- Meeting and convention space
- Rooftop pool
- Luxury spa
- 300-vehicle self-parking garage
Located adjacent to Bronco Billy’s Casino, which will retain its Western theme, the Chamonix will feature “elegant” European styling with “Colorado comfort.” The hotel also boasts the first luxury rooms in the Cripple Creek area. Full House Resorts’ goal is to feature the most exciting casino experience in the state.
The Chamonix is expected to double Cripple Creek’s hotel capacity to help supplement the town’s tourism lodging. Cripple Creek is located near Pikes Peak. The surrounding area offers several outdoor activities, including hiking, mountain biking, rock climbing, fishing, fossil hunting, and other exploration opportunities.
Fine dining at Chamonix to be overseen by talented chef
Barry Dakake, known for Barry’s Downtown Prime and N9NE Steakhouse in Las Vegas, will operate the fine-dining restaurant at the Chamonix. Lee hopes that with Dakake’s involvement, the Chamonix will feature one of Colorado’s best restaurants.
Dakake has a very impressive track record when it comes to working in the restaurant business. He began his career working at the Aureole restaurants in New York and Las Vegas. Each earned multiple awards during his time there.
He was among the opening crew at N9NE Steakhouse. It has been featured as one of the best restaurants in the world, according to several publications, including Condé Nast Traveler, Vegas Magazine, Wine Spectator, and Gourmet Magazine.
Full House Resort’s first quarter shows massive revenue increase
Full House Resorts reported $50.1 million in revenue for the first quarter. It was a 21% increase from 2022’s fourth-quarter revenue, which was $41.4 million. There was $11.4 million in net loss for the company, most of which is related to the opening of The Temporary by American Place in Waukegan, IL, and the Chamonix project.
Lee emphasized how important the quarter was to the company’s future. He highlighted the addition of The Temporary by American Place as a major contributor:
“This was a transformational quarter for our company, with the first phase of our American Place project now open and already contributing meaningfully to our financial results. In its first 1.5 months of operations, The Temporary by American Place generated $10.4 million of revenue and $3.6 million of Adjusted Property EBITDA, resulting in an Adjusted Property EBITDA margin of 34.3%.”
Revenue from the company’s West segment, which includes Grand Lodge Casino in Incline Village, NV, Stockman’s Casino in Fallon, NV, and Bronco Billy’s was down. The segment pulled in $8.1 million compared to $8.6 million from the previous quarter. This reflects the temporary loss of all parking for Bronco Billy’s due to the Chamonix construction and heavy snowfall near Lake Tahoe by Incline Village and in Colorado.