Revenue growth for Full House and DoubleDown: analysis of the first quarter
Date: 2024-05-09 Author: Alex Crawford Categories: EVENTS
When analyzing the financial results of the first quarter, it is important to pay attention to the revenue of Full House Resorts and DoubleDown Interactive, which showed significant growth.
Success DoubleDown
DoubleDown Interactive reported revenue growth to $57.1 million for the three months, up 13.5% from the previous year. That said, it's important to note the revenue gains following the acquisition of SuprNation, which contributed to the increase in revenue in the first quarter.
In addition to the increase in overall revenue, DoubleDown also saw growth in average revenue per active user per day and average monthly revenue per payer, which confirms the steady growth of important financial indicators.
Successful Cost Management
Despite the increase in operating expenses, DoubleDown was able to offset them with additional income, including foreign currency gains and interest income, resulting in significant growth in pre-tax earnings.
DoubleDown CEO In Keuk Kim emphasized the importance of the company's strong profitability and free cash flow, which allows it to consider opportunities for organic and incremental growth.
Full House results
Full House Resorts also saw revenue growth, which was especially driven by American Place's operations in Illinois.
The Midwest & South division, as well as contract sports betting revenues, posted strong gains, reflecting the company's diversified revenues and successful growth strategy.
Cost Analysis
The increase in operating expenses was partially offset by higher revenues, but interest expenses remained significant.
The overall first quarter result reflects Full House and DoubleDown's continued growth and strategic management of resources, creating a positive outlook for future growth and an attractive opportunity for investors.
