vs
Side-by-side financial comparison of FULL HOUSE RESORTS INC (FLL) and GOLDEN ENTERTAINMENT, INC. (GDEN), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.
GOLDEN ENTERTAINMENT, INC. is the larger business by last-quarter revenue ($155.6M vs $75.4M, roughly 2.1× FULL HOUSE RESORTS INC). GOLDEN ENTERTAINMENT, INC. runs the higher net margin — -16.4% vs -5.5%, a 10.9% gap on every dollar of revenue. On growth, FULL HOUSE RESORTS INC posted the faster year-over-year revenue change (3.4% vs -5.2%). FULL HOUSE RESORTS INC produced more free cash flow last quarter ($10.7M vs $-4.4M). Over the past eight quarters, FULL HOUSE RESORTS INC's revenue compounded faster (3.9% CAGR vs -5.4%).
Full House Resorts, Inc. is an American casino developer and operator based in Summerlin South, Nevada. The company currently operates five casinos. It is known for the involvement of Gulfstream Aerospace founder Allen Paulson, who was CEO from 1994 to 2000, and former Chrysler chairman Lee Iacocca, who was a major investor in the company from 1995 to 2013. Dan Lee has been CEO since late 2014.
Golden Entertainment, Inc. is an American gambling company based in Enterprise, Nevada that operates casinos and taverns. It was formed in 2015 by the merger of Golden Gaming and Lakes Entertainment. It is the largest tavern operator in Nevada. In October 2017, the company completed an $850 million acquisition of American Casino & Entertainment Properties. The company now has eight casino resorts, all located in Southern Nevada.
FLL vs GDEN — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $75.4M | $155.6M |
| Net Profit | $-12.4M | $-8.5M |
| Gross Margin | 93.1% | 92.5% |
| Operating Margin | -1.3% | -1.5% |
| Net Margin | -16.4% | -5.5% |
| Revenue YoY | 3.4% | -5.2% |
| Net Profit YoY | -0.6% | -386.0% |
| EPS (diluted) | $-0.35 | $-0.31 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.
| Q4 25 | $75.4M | $155.6M | ||
| Q3 25 | $78.0M | $154.8M | ||
| Q2 25 | $73.9M | $163.6M | ||
| Q1 25 | $75.1M | $160.8M | ||
| Q4 24 | $73.0M | $164.2M | ||
| Q3 24 | $75.7M | $161.2M | ||
| Q2 24 | $73.5M | $167.3M | ||
| Q1 24 | $69.9M | $174.0M |
| Q4 25 | $-12.4M | $-8.5M | ||
| Q3 25 | $-7.7M | $-4.7M | ||
| Q2 25 | $-10.4M | $4.6M | ||
| Q1 25 | $-9.8M | $2.5M | ||
| Q4 24 | $-12.3M | $3.0M | ||
| Q3 24 | $-8.5M | $5.2M | ||
| Q2 24 | $-8.6M | $623.0K | ||
| Q1 24 | $-11.3M | $42.0M |
| Q4 25 | 93.1% | 92.5% | ||
| Q3 25 | 93.2% | 92.8% | ||
| Q2 25 | 93.5% | 93.1% | ||
| Q1 25 | 93.4% | 92.7% | ||
| Q4 24 | 92.1% | 96.3% | ||
| Q3 24 | 92.2% | 93.0% | ||
| Q2 24 | 92.4% | 93.2% | ||
| Q1 24 | 92.3% | 89.9% |
| Q4 25 | -1.3% | -1.5% | ||
| Q3 25 | 4.4% | 0.6% | ||
| Q2 25 | -0.1% | 7.3% | ||
| Q1 25 | 1.0% | 6.9% | ||
| Q4 24 | -1.9% | 7.1% | ||
| Q3 24 | 3.2% | 4.2% | ||
| Q2 24 | 3.2% | 8.1% | ||
| Q1 24 | -0.9% | 46.0% |
| Q4 25 | -16.4% | -5.5% | ||
| Q3 25 | -9.8% | -3.0% | ||
| Q2 25 | -14.0% | 2.8% | ||
| Q1 25 | -13.0% | 1.6% | ||
| Q4 24 | -16.9% | 1.8% | ||
| Q3 24 | -11.2% | 3.2% | ||
| Q2 24 | -11.7% | 0.4% | ||
| Q1 24 | -16.1% | 24.1% |
| Q4 25 | $-0.35 | $-0.31 | ||
| Q3 25 | $-0.21 | $-0.18 | ||
| Q2 25 | $-0.29 | $0.17 | ||
| Q1 25 | $-0.27 | $0.09 | ||
| Q4 24 | $-0.34 | $0.14 | ||
| Q3 24 | $-0.24 | $0.18 | ||
| Q2 24 | $-0.25 | $0.02 | ||
| Q1 24 | $-0.33 | $1.37 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $40.7M | $55.3M |
| Total DebtLower is stronger | $473.6M | $426.6M |
| Stockholders' EquityBook value | $2.5M | $420.9M |
| Total Assets | $649.8M | $1.0B |
| Debt / EquityLower = less leverage | 186.62× | 1.01× |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $40.7M | $55.3M | ||
| Q3 25 | $30.9M | $58.3M | ||
| Q2 25 | $32.1M | $52.3M | ||
| Q1 25 | $30.7M | $50.5M | ||
| Q4 24 | $40.2M | $57.7M | ||
| Q3 24 | $25.9M | $68.6M | ||
| Q2 24 | $31.1M | $88.6M | ||
| Q1 24 | $25.7M | $404.3M |
| Q4 25 | $473.6M | $426.6M | ||
| Q3 25 | $473.1M | $417.3M | ||
| Q2 25 | $467.5M | $423.3M | ||
| Q1 25 | $471.7M | $399.3M | ||
| Q4 24 | $468.1M | $405.3M | ||
| Q3 24 | $467.4M | $386.3M | ||
| Q2 24 | $466.6M | $388.2M | ||
| Q1 24 | $465.9M | $660.9M |
| Q4 25 | $2.5M | $420.9M | ||
| Q3 25 | $14.2M | $434.2M | ||
| Q2 25 | $21.2M | $443.3M | ||
| Q1 25 | $31.0M | $462.0M | ||
| Q4 24 | $40.5M | $474.2M | ||
| Q3 24 | $51.8M | $513.1M | ||
| Q2 24 | $59.5M | $539.0M | ||
| Q1 24 | $67.3M | $569.6M |
| Q4 25 | $649.8M | $1.0B | ||
| Q3 25 | $644.4M | $1.0B | ||
| Q2 25 | $651.5M | $1.0B | ||
| Q1 25 | $657.2M | $1.1B | ||
| Q4 24 | $673.3M | $1.1B | ||
| Q3 24 | $668.7M | $1.1B | ||
| Q2 24 | $673.9M | $1.2B | ||
| Q1 24 | $670.4M | $1.5B |
| Q4 25 | 186.62× | 1.01× | ||
| Q3 25 | 33.30× | 0.96× | ||
| Q2 25 | 22.04× | 0.95× | ||
| Q1 25 | 15.22× | 0.86× | ||
| Q4 24 | 11.56× | 0.85× | ||
| Q3 24 | 9.02× | 0.75× | ||
| Q2 24 | 7.85× | 0.72× | ||
| Q1 24 | 6.92× | 1.16× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $12.0M | $10.2M |
| Free Cash FlowOCF − Capex | $10.7M | $-4.4M |
| FCF MarginFCF / Revenue | 14.1% | -2.8% |
| Capex IntensityCapex / Revenue; lower = less reinvestment burden | 1.8% | 9.4% |
| Cash ConversionOCF / Net Profit; >1× = earnings back up with cash | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-2.7M | $35.6M |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $12.0M | $10.2M | ||
| Q3 25 | $-472.0K | $26.9M | ||
| Q2 25 | $7.9M | $17.4M | ||
| Q1 25 | $-9.5M | $28.6M | ||
| Q4 24 | $14.8M | $22.5M | ||
| Q3 24 | $-6.7M | $22.5M | ||
| Q2 24 | $10.1M | $21.5M | ||
| Q1 24 | $-4.4M | $25.8M |
| Q4 25 | $10.7M | $-4.4M | ||
| Q3 25 | $-5.5M | $19.3M | ||
| Q2 25 | $4.5M | $4.0M | ||
| Q1 25 | $-12.3M | $16.6M | ||
| Q4 24 | $6.9M | $14.3M | ||
| Q3 24 | $-17.4M | $14.7M | ||
| Q2 24 | $-1.2M | $3.9M | ||
| Q1 24 | $-27.0M | $9.5M |
| Q4 25 | 14.1% | -2.8% | ||
| Q3 25 | -7.1% | 12.5% | ||
| Q2 25 | 6.1% | 2.4% | ||
| Q1 25 | -16.4% | 10.4% | ||
| Q4 24 | 9.4% | 8.7% | ||
| Q3 24 | -23.0% | 9.1% | ||
| Q2 24 | -1.6% | 2.3% | ||
| Q1 24 | -38.7% | 5.5% |
| Q4 25 | 1.8% | 9.4% | ||
| Q3 25 | 6.5% | 4.9% | ||
| Q2 25 | 4.5% | 8.2% | ||
| Q1 25 | 3.8% | 7.4% | ||
| Q4 24 | 10.9% | 5.0% | ||
| Q3 24 | 14.1% | 4.9% | ||
| Q2 24 | 15.4% | 10.5% | ||
| Q1 24 | 32.4% | 9.3% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 3.76× | ||
| Q1 25 | — | 11.43× | ||
| Q4 24 | — | 7.57× | ||
| Q3 24 | — | 4.36× | ||
| Q2 24 | — | 34.51× | ||
| Q1 24 | — | 0.61× |
Financial Flow Comparison
Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.
Revenue Breakdown by Segment
FLL
| Midwest And South | $58.2M | 77% |
| Food And Beverage | $9.7M | 13% |
| Other Operations | $3.6M | 5% |
| Other | $2.3M | 3% |
| Contracted Sports Wagering | $1.7M | 2% |
GDEN
| Nevada Casino Resorts | $90.2M | 58% |
| Nevada Locals Casinos | $37.4M | 24% |
| Nevada Taverns | $27.7M | 18% |
