Financial Data and Key Metrics Changes - The company reported record revenue of $30.7 million for the second quarter, an increase of approximately 13% compared to the previous year [6][7] - Adjusted property EBITDA reached $8.9 million, up 17% year-over-year [7] - The company expects approximately 20% growth in EBITDA for the full year 2025 compared to 2024 [9] Business Line Data and Key Metrics Changes - American Place's gaming revenue continues to grow, with a significant increase in customer sign-ups, now exceeding 107,000 [8] - Chamonix's gaming revenue remains stable, with negligible impact on the overall city’s gaming revenues, indicating an undersaturated market [10][11] - Silver Slipper experienced a revenue decline of $1.6 million due to reduced comping levels, but adjusted property EBITDA remained flat except for a one-time non-cash accounting item [15] Market Data and Key Metrics Changes - The company noted that the gaming market in Colorado is growing, with no new competition on the horizon, which is beneficial for future revenue growth [51] - The overall gaming revenues in Colorado have been increasing, with the company capturing 100% of the growth in the state over the past six months [51] Company Strategy and Development Direction - The company is focused on enhancing customer awareness and improving amenities at American Place to drive growth [8] - Management changes at Chamonix are expected to lead to improved marketing strategies and cost savings, with a focus on building revenues [13][14] - The company is exploring refinancing options for existing debt and is closely monitoring the debt markets for favorable conditions [16][17] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth potential of American Place and Chamonix, citing ongoing improvements in customer engagement and operational efficiencies [9][12] - The management team acknowledged the challenges faced in the early stages of property operations but remains optimistic about long-term profitability [53][54] Other Important Information - The company is working on relocating its license in Indiana, which could provide significant benefits to the state and the company [34] - The management team is focused on improving marketing strategies, including transitioning to email marketing to reduce costs [82] Q&A Session Summary Question: What are some early factors to determine success and earnings ramp at the property in Colorado? - Management highlighted cost structure reductions and the importance of building a targeted marketing strategy to capture the underserved market [37][41] Question: Can you provide an update on the timeline and financing for Waukegan? - Management indicated that starting construction by year-end is crucial and that they are prepared to seek extensions if necessary [71][75] Question: How has business evolved in terms of revenues during the quarter? - Management confirmed that American Place has shown consistent revenue growth, while Chamonix is in a turnaround phase with a focus on cost savings and revenue generation [108][116]