Nasdaq:FLL
Full House Resorts Announces First Quarter Results
– Revenues Increased 21.0% to $50.1 Million
– The Temporary by American Place Officially Opened on February 17th;
Illinois Sportsbook Expected to Commence Operations by August 2023
– Full Opening of Chamonix Casino Hotel Slated for December 26, 2023
– Barry Dakake and Yassine Lyoubi, Co-owners of Barry’s Downtown Prime and Former Operators of
N9NE Steakhouse in Las Vegas, to Operate the Fine Dining Restaurant at Chamonix Casino Hotel
LAS VEGAS, May 08, 2023 (GLOBE NEWSWIRE) — Full House Resorts, Inc. (Nasdaq: FLL) today announced results for the first quarter ended March 31, 2023, including updates regarding its growth pipeline.
On a consolidated basis, revenues in the first quarter of 2023 were $50.1 million, a 21.0% increase from $41.4 million in the prior-year period. Net loss for the first quarter of 2023 was $11.4 million, or $(0.33) per diluted common share, which includes $10.5 million of preopening and development costs, primarily related to the February 2023 opening of The Temporary and the Company’s Chamonix construction project. In the prior-year period, net income was $0.1 million, or $0 per diluted common share, reflecting $4.4 million of debt modification costs related to the Company’s offering of additional notes in February 2022, and $1.0 million of preopening and development costs. Adjusted EBITDA(a) rose 20.6% to $10.1 million in the 2023 first quarter, versus $8.4 million in the prior-year period, reflecting the opening of The Temporary in February 2023 and Rising Star’s sale of “free play” (which also occurred in the prior year, though not until the second quarter of 2022).
“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,” said Daniel R. Lee, President and Chief Executive Officer of Full House Resorts. “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%. Its marketing database currently consists of approximately 25,000 people and continues to grow steadily. As The Temporary’s database continues to expand and its remaining amenities come online, we expect continued growth in the property’s revenue and profit contributions.
“Since our soft opening of The Temporary on February 17th, we have continued to ramp up operations. In early April, our second restaurant — Asia-Azteca, serving a fusion of Mexican and Asian cuisines — began welcoming guests. On May 12th, we expect to begin 24-hour casino operations on weekends, as well as the removal of all restrictions on table game limits and table game operating hours. We expect to complete our opening of The Temporary with the addition of 22 more table games by June, followed by the opening of our fine-dining restaurant and an on-site sportsbook. In contrast, we have generally operated only 28 table games since opening.
“We also continue to make substantial progress at our Chamonix project in Cripple Creek, Colorado,” continued Mr. Lee. “Barry Dakake, a celebrated chef known for leading Barry’s Downtown Prime and N9NE Steakhouse in Las Vegas, Nevada, recently agreed to operate our fine dining restaurant at Chamonix. Barry and his team are known for creating restaurants with amazing guest service and equally amazing cuisine. He began his career with Chef Charlie Palmer at the Aureole restaurants in New York and on the Las Vegas Strip, which earned numerous Michelin stars and James Beard Awards. He was also a part of the opening team of N9NE Steakhouse, which was named a “Top 100 Restaurant in the World” by Condé Nast Traveler, “Best Steakhouse” by Vegas Magazine, “Hottest New Restaurant” by Wine Spectator, and one of “America’s Best Restaurants” by Gourmet Magazine. We look forward to vying to be one of the state’s leading restaurants with Barry at our Chamonix Casino Hotel.
“We also have finalized an opening day for Chamonix: December 26, 2023. 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.”
For project renderings and live construction webcams, please visit www.AmericanPlace.com and www.ChamonixCO.com.
First Quarter Highlights and Subsequent Events
During the first quarter of 2023, the Company updated its reportable segments to Midwest & South, West, and Contracted Sports Wagering, reflecting a realignment within the Company as a result of our continued growth.
- Midwest & South. This segment includes Silver Slipper Casino and Hotel, Rising Star Casino Resort, and The Temporary by American Place, which opened on February 17, 2023. Revenues for the segment were $40.8 million in the first quarter of 2023, a 36.2% increase from $29.9 million in the prior-year period. Adjusted Segment EBITDA rose to $10.7 million, a 50.8% increase from $7.1 million in the prior-year period. These results reflect approximately 1.5 months of operations at The Temporary, the Company’s newest casino located in Waukegan, Illinois. In the first quarter of 2023, The Temporary generated $10.4 million of revenue and $3.6 million of Adjusted Property EBITDA, resulting in an Adjusted Property EBITDA margin of 34.3%. Additionally, the current-period results include Rising Star’s sale of “free play,” which resulted in $2.1 million of revenue and income in the first quarter of 2023. Rising Star also sold its “free play” for $2.1 million during 2022, although not until the second quarter.
Excluding results from The Temporary, same-store revenues rose by $0.4 million due to the sale of “free play” at Rising Star, as noted above. This helped to offset a revenue decline at Silver Slipper, due in part to declines in the slot and table games hold percentages. Same-store Adjusted Segment EBITDA was flat at $7.1 million.
- West. This segment includes Grand Lodge Casino (located within the Hyatt Regency Lake Tahoe luxury resort in Incline Village), Stockman’s Casino, Bronco Billy’s Casino and Hotel and, upon its expected opening in December 2023, will include Chamonix Casino Hotel. Revenues for the segment were $8.1 million in the first quarter of 2023 versus $8.6 million in the prior-year period. Adjusted Segment EBITDA was $56,000 versus $0.5 million. Results in both periods reflect the temporary loss of all on-site parking and on-site hotel rooms at Bronco Billy’s to accommodate the construction of neighboring Chamonix. Additionally, the current period reflects significant snowfall near Lake Tahoe and in Colorado, adversely impacting guest traffic at our Grand Lodge and Bronco Billy’s properties.
- Contracted Sports Wagering. This segment consists of the Company’s on-site and online sports wagering “skins” (akin to websites) in Colorado, Indiana and, upon launch, Illinois. Revenues and Adjusted Segment EBITDA were both $1.2 million in the first quarter of 2023, reflecting all three of our permitted skins now contractually live in Colorado and two of our three skins live in Indiana. Revenues and Adjusted EBITDA were both $2.8 million in the prior-year period, reflecting an acceleration of deferred revenue for two agreements that ceased operations in May 2022, when one of the Company’s contracted parties ended its online operations.
The results of this segment do not yet include income contribution from the Company’s Illinois sports skin. Similar to the Company’s other sports wagering agreements, the Company will receive a percentage of revenues, as defined in the contract, with minimal expected expenses. The total annualized minimum amount for all six of the Company’s sports wagering agreements will be $10 million once this Illinois skin is live. The Company believes that its Illinois sports skin will begin operations by August 2023, pending customary regulatory approvals.
Liquidity and Capital Resources
As of March 31, 2023, the Company had $142.4 million in cash and cash equivalents, including $101.6 million of cash reserved under its bond indentures to complete the construction of Chamonix. Its debt consisted primarily of $450.0 million in outstanding senior secured notes due 2028, which become callable at specified premiums beginning in February 2024, and $27.0 million outstanding under its revolving credit facility.
Conference Call Information
The Company will host a conference call for investors today, May 8, 2023, at 4:30 p.m. ET (1:30 p.m. PT) to discuss its 2023 first quarter results. Investors can access the live audio webcast from the Company’s website at www.fullhouseresorts.com under the investor relations section. The conference call can also be accessed by dialing (201) 689-8470.
A replay of the conference call will be available shortly after the conclusion of the call through May 22, 2023. To access the replay, please visit www.fullhouseresorts.com. Investors can also access the replay by dialing (412) 317-6671 and using the passcode 13738611.
(a) Reconciliation of Non-GAAP Financial Measure
The Company utilizes Adjusted Segment EBITDA, a financial measure in accordance with generally accepted accounting principles (“GAAP”), as the measure of segment profitability in assessing performance and allocating resources at the reportable segment level. Adjusted Segment EBITDA is defined as earnings before interest and other non-operating income (expense), taxes, depreciation and amortization, preopening expenses, impairment charges, asset write-offs, recoveries, gain (loss) from asset disposals, project development and acquisition costs, non-cash share-based compensation expense, and corporate-related costs and expenses that are not allocated to each segment.
Same-store Adjusted Segment EBITDA is Adjusted Segment EBITDA further adjusted to exclude the Adjusted Property EBITDA of properties that have not been in operation for a full year. Adjusted Property EBITDA is defined as earnings before interest and other non-operating income (expense), taxes, depreciation and amortization, preopening expenses, impairment charges, asset write-offs, recoveries, gain (loss) from asset disposals, project development and acquisition costs, non-cash share-based compensation expense, and corporate-related costs and expenses that are not allocated to each property.
The Company also utilizes Adjusted EBITDA (a non-GAAP measure), which is defined as Adjusted Segment EBITDA net of corporate-related costs and expenses.
Although Adjusted EBITDA is not a measure of performance or liquidity calculated in accordance with GAAP, the Company believes this non-GAAP financial measure provides meaningful supplemental information regarding our performance and liquidity. The Company utilizes this metric or measure internally to focus management on year-over-year changes in core operating performance, which it considers its ordinary, ongoing and customary operations and which it believes is useful information to investors. Accordingly, management excludes certain items when analyzing core operating performance, such as the items mentioned above, that management believes are not reflective of ordinary, ongoing and customary operations.
A reconciliation of Adjusted EBITDA is presented below. However, you should not consider this measure in isolation or as a substitute for operating income, cash flows from operating activities, or any other measure for determining our operating performance or liquidity that is calculated in accordance with GAAP. You are encouraged to evaluate these adjustments and the reasons we consider them appropriate for supplemental analysis. In evaluating Adjusted EBITDA, you should be aware that, in the future, we may incur expenses that are the same as or similar to some of the adjustments in this presentation. Our presentation of Adjusted EBITDA should not be construed as an inference that our future results will be unaffected by unusual or non-recurring items.
| FULL HOUSE RESORTS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In thousands, except per share data) |
||||||||
| Three Months Ended | ||||||||
| March 31, | ||||||||
| 2023 |
2022 |
|||||||
| Revenues | ||||||||
| Casino | $ | 35,987 | $ | 29,084 | ||||
| Food and beverage | 7,660 | 6,511 | ||||||
| Hotel | 2,144 | 2,179 | ||||||
| Other operations, including contracted sports wagering | 4,315 | 3,649 | ||||||
| 50,106 | 41,423 | |||||||
| Operating costs and expenses | ||||||||
| Casino | 13,344 | 9,875 | ||||||
| Food and beverage | 7,455 | 6,568 | ||||||
| Hotel | 1,219 | 1,071 | ||||||
| Other operations | 482 | 462 | ||||||
| Selling, general and administrative | 18,229 | 15,393 | ||||||
| Project development costs | 7 | 165 | ||||||
| Preopening costs | 10,497 | 786 | ||||||
| Depreciation and amortization | 5,859 | 1,792 | ||||||
| Loss on disposal of assets | — | 8 | ||||||
| 57,092 | 36,120 | |||||||
| Operating (loss) income | (6,986 | ) | 5,303 | |||||
| Other (expense) income | ||||||||
| Interest expense, net | (4,819 | ) | (6,399 | ) | ||||
| Loss on modification of debt | — | (4,406 | ) | |||||
| Gain on insurance settlement | 355 | — | ||||||
| (4,464 | ) | (10,805 | ) | |||||
| Loss before income taxes | (11,450 | ) | (5,502 | ) | ||||
| Income tax benefit | (35 | ) | (5,612 | ) | ||||
| Net (loss) income | $ | (11,415 | ) | $ | 110 | |||
| Basic loss per share | $ | (0.33 | ) | $ | — | |||
| Diluted loss per share | $ | (0.33 | ) | $ | — | |||
| Basic weighted average number of common shares outstanding | 34,410 | 34,262 | ||||||
| Diluted weighted average number of common shares outstanding | 34,410 | 36,623 | ||||||
| Full House Resorts, Inc. Supplemental Information Segment Revenues, Adjusted Segment EBITDA and Adjusted EBITDA (In thousands, Unaudited) |
||||||||
| Three Months Ended | ||||||||
| March 31, | ||||||||
| 2023 | 2022 | |||||||
| Revenues | ||||||||
| Midwest & South | $ | 40,802 | $ | 29,949 | ||||
| West | 8,124 | 8,644 | ||||||
| Contracted Sports Wagering | 1,180 | 2,830 | ||||||
| $ | 50,106 | $ | 41,423 | |||||
| Adjusted Segment EBITDA(1) and Adjusted EBITDA | ||||||||
| Midwest & South | $ | 10,687 | $ | 7,088 | ||||
| West | 56 | 509 | ||||||
| Contracted Sports Wagering | 1,161 | 2,767 | ||||||
| Adjusted Segment EBITDA | 11,904 | 10,364 | ||||||
| Corporate | (1,779 | ) | (1,967 | ) | ||||
| Adjusted EBITDA | $ | 10,125 | $ | 8,397 | ||||
__________
(1) The Company utilizes Adjusted Segment EBITDA as the measure of segment operating profitability in assessing performance and allocating resources at the reportable segment level.
| Full House Resorts, Inc. Supplemental Information Same-store Revenues and Adjusted Segment EBITDA (In thousands, Unaudited) |
|||||||
| Three Months Ended | |||||||
| March 31, | |||||||
| 2023 | 2022 | ||||||
| Midwest & South same-store total revenues(1) | $ | 30,382 | $ | 29,949 | |||
| The Temporary by American Place | 10,420 | — | |||||
| Midwest & South total revenues | $ | 40,802 | $ | 29,949 | |||
| Midwest & South same-store Adjusted Segment EBITDA(1) | $ | 7,114 | $ | 7,088 | |||
| The Temporary by American Place | 3,573 | — | |||||
| Midwest & South Adjusted Segment EBITDA | $ | 10,687 | $ | 7,088 | |||
__________
(1) Same-store operations exclude results from The Temporary by American Place, which opened on February 17, 2023.
| Full House Resorts, Inc. Supplemental Information Reconciliation of Net Income (Loss) and Operating Income (Loss) to Adjusted EBITDA (In thousands, Unaudited) |
||||||||
| Three Months Ended | ||||||||
| March 31, | ||||||||
| 2023 |
2022 |
|||||||
| Net (loss) income | $ | (11,415 | ) | $ | 110 | |||
| Income tax benefit | (35 | ) | (5,612 | ) | ||||
| Interest expense, net | 4,819 | 6,399 | ||||||
| Loss on modification of debt | — | 4,406 | ||||||
| Gain on insurance settlement | (355 | ) | — | |||||
| Operating (loss) income | (6,986 | ) | 5,303 | |||||
| Project development costs | 7 | 165 | ||||||
| Preopening costs | 10,497 | 786 | ||||||
| Depreciation and amortization | 5,859 | 1,792 | ||||||
| Loss on disposal of assets | — | 8 | ||||||
| Stock-based compensation | 748 | 343 | ||||||
| Adjusted EBITDA | $ | 10,125 | $ | 8,397 | ||||
| Full House Resorts, Inc. Supplemental Information Reconciliation of Operating Income (Loss) to Adjusted Segment EBITDA and Adjusted EBITDA (In thousands, Unaudited) |
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| Three Months Ended March 31, 2023 | ||||||||||||||||||||
| Adjusted | ||||||||||||||||||||
| Segment | ||||||||||||||||||||
| Operating | Depreciation | Project | Stock- | EBITDA and | ||||||||||||||||
| Income | and | Development | Preopening | Based | Adjusted | |||||||||||||||
| (Loss) | Amortization | Costs | Costs | Compensation | EBITDA | |||||||||||||||
| Reporting segments | ||||||||||||||||||||
| Midwest & South | $ | (4,666 | ) | $ | 5,256 | $ | — | $ | 10,097 | $ | — | $ | 10,687 | |||||||
| West | (916 | ) | 572 | — | 400 | — | 56 | |||||||||||||
| Contracted Sports Wagering | 1,161 | — | — | — | — | 1,161 | ||||||||||||||
| (4,421 | ) | 5,828 | — | 10,497 | — | 11,904 | ||||||||||||||
| Other operations | ||||||||||||||||||||
| Corporate | (2,565 | ) | 31 | 7 | — | 748 | (1,779 | ) | ||||||||||||
| $ | (6,986 | ) | $ | 5,859 | $ | 7 | $ | 10,497 | $ | 748 | $ | 10,125 | ||||||||
| Three Months Ended March 31, 2022 | |||||||||||||||||||||||
| Adjusted | |||||||||||||||||||||||
| Segment | |||||||||||||||||||||||
| Operating | Depreciation | Loss on | Project | Stock- | EBITDA and | ||||||||||||||||||
| Income | and | Disposal | Development | Preopening | Based | Adjusted | |||||||||||||||||
| (Loss) | Amortization | of Assets | Costs | Costs | Compensation | EBITDA | |||||||||||||||||
| Reporting segments | |||||||||||||||||||||||
| Midwest & South | $ | 5,023 | $ | 1,272 | $ | 7 | $ | — | $ | 786 | $ | — | $ | 7,088 | |||||||||
| West | 21 | 487 | 1 | — | — | — | 509 | ||||||||||||||||
| Contracted Sports Wagering | 2,767 | — | — | — | — | — | 2,767 | ||||||||||||||||
| 7,811 | 1,759 | 8 | — | 786 | — | 10,364 | |||||||||||||||||
| Other operations | |||||||||||||||||||||||
| Corporate | (2,508 | ) | 33 | — | 165 | — | 343 | (1,967 | ) | ||||||||||||||
| $ | 5,303 | $ | 1,792 | $ | 8 | $ | 165 | $ | 786 | $ | 343 | $ | 8,397 | ||||||||||
Cautionary Note Regarding Forward-looking Statements
This press release contains statements by Full House and our officers that are “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “believe,” “project,” “expect,” “future,” “should,” “will” and similar references to future periods. Some forward-looking statements in this press release include those regarding our expected construction budgets, estimated commencement and completion dates, expected amenities, and our expected operational performance for Chamonix and American Place, including The Temporary; and our expectations regarding the success and commencement dates of any new sports wagering contracts or operations in Colorado, Indiana or Illinois. Forward-looking statements are neither historical facts nor assurances of future performance. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Such risks include, without limitation, our ability to repay our substantial indebtedness; inflation and its potential impacts on labor costs and the price of food, construction, and other materials; the effects of potential disruptions in the supply chains for goods, such as food, lumber, and other materials; general macroeconomic conditions; our ability to effectively manage and control expenses; our ability to complete Chamonix and American Place on-time and on-budget; changes in guest visitation or spending patterns due to COVID-19 or other health or other concerns; construction risks, disputes and cost overruns; dependence on existing management; competition; uncertainties over the development and success of our expansion projects; the financial performance of our finished projects and renovations; effectiveness of expense and operating efficiencies; and regulatory and business conditions in the gaming industry (including the possible authorization or expansion of gaming in the states we operate or nearby states). Additional information concerning potential factors that could affect our financial condition and results of operations is included in the reports we file with the Securities and Exchange Commission, including, but not limited to, Part I, Item 1A. Risk Factors and Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations of our Annual Report on Form 10-K for the most recently ended fiscal year and our other periodic reports filed with the Securities and Exchange Commission. We are under no obligation to (and expressly disclaim any such obligation to) update or revise our forward-looking statements as a result of new information, future events or otherwise. Actual results may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements.
About Full House Resorts, Inc.
Full House Resorts owns, leases, develops and operates gaming facilities throughout the country. The Company’s properties include The Temporary by American Place in Waukegan, Illinois; Silver Slipper Casino and Hotel in Hancock County, Mississippi; Bronco Billy’s Casino and Hotel in Cripple Creek, Colorado; Rising Star Casino Resort in Rising Sun, Indiana; Stockman’s Casino in Fallon, Nevada; and Grand Lodge Casino, located within the Hyatt Regency Lake Tahoe Resort, Spa and Casino in Incline Village, Nevada. The Company is currently constructing Chamonix Casino Hotel, a new luxury hotel and casino expected to open in December 2023 in Cripple Creek, Colorado. For further information, please visit www.fullhouseresorts.com.
CONTACT: Contact: Lewis Fanger, Chief Financial Officer Full House Resorts, Inc. 702-221-7800 www.fullhouseresorts.com
– American Place Casino Continued Its Strong Growth,
With Revenues Increasing 14.0% to a New Property Record in the Third Quarter of 2025
– Consolidated Operating Income Rose 40.3% to $3.4 Million in the Third Quarter of 2025;
Net Loss Improved to $(7.7) Million from $(8.5) Million
– Adjusted EBITDA Increased 26.1% to $14.8 Million in the Third Quarter of 2025,
Reflecting Strong Results at American Place and a $2.1 Million Contribution from Chamonix/Bronco Billy’s
LAS VEGAS, Nov. 06, 2025 (GLOBE NEWSWIRE) — Full House Resorts, Inc. (Nasdaq: FLL) today announced results for the third quarter ended September 30, 2025.
On a consolidated basis, revenues in the third quarter of 2025 were $78.0 million, an increase from $75.7 million in the prior-year period. These results reflect the continued ramp-up of operations at the Company’s two newest properties, American Place Casino and Chamonix Casino Hotel, partially offset by the sale of Stockman’s Casino in April 2025 and renovation-related disruptions surrounding our Grand Lodge Casino. Net loss for the third quarter of 2025 improved to $(7.7) million, or $(0.21) per diluted common share. In the prior-year period, net loss was $(8.5) million, or $(0.24) per diluted common share. Adjusted EBITDA(a) was $14.8 million in the third quarter of 2025, up 26.1% from $11.7 million in the 2024 period. These results reflect strong growth at American Place and a $2.1 million contribution to Adjusted EBITDA from Chamonix/Bronco Billy’s. American Place and Chamonix are the Company’s newest casinos, and both are expected to continue their growth as their operations ramp further.
“Both American Place and Chamonix shined during the third quarter,” said Daniel R. Lee, Chief Executive Officer of Full House Resorts. “American Place continues to deliver outstanding growth, setting new records for revenue and profitability in the third quarter. Its customer database also continues to grow, having recently surpassed 115,000 members. Driven by the success of our temporary American Place casino, we remain excited for the construction of our permanent American Place facility. We recently received unanimous site approval for our permanent facility from the Waukegan City Council.”
Continued Mr. Lee, “Chamonix also made great strides during the third quarter, led by its new management team. Revenues at our Colorado operations grew 7.3% in the third quarter. Adjusted Property EBITDA improved by $2.8 million in the third quarter, rising to $2.1 million from $(0.7) million in last year’s third quarter. With all of Chamonix’s amenities now open to the public, we do not expect any meaningful additions to the property’s cost structure and, in fact, continue to target many areas for operational efficiencies. As a result, as revenues at Chamonix continue to grow, we expect meaningful flowthrough to the bottom line.
“While Chamonix’s new management team made significant advances during the quarter, we believe substantial opportunity remains for us in the largely untapped Colorado Springs market, as well as in southern Denver. We estimate that less than 15% of households in Colorado Springs visited Cripple Creek in the last year. That is an extremely low figure, likely driven by a lack of quality gaming products and amenities prior to Chamonix’s opening. To broaden Chamonix’s appeal, we have focused on more targeted marketing campaigns, strengthened our group sales team, expanded our entertainment options, and continued to leverage our extensive amenities. Those efforts have been successful thus far, bringing new guests and helping Chamonix set new property records in the third quarter, including a new daily slot volume record. Based on published information, Cripple Creek – led by Chamonix – has been the impetus for growth in statewide gaming revenue on a year-to-date basis. We look forward to the coming quarters and years, as awareness accelerates and results from our Colorado operations continue to grow.”
Third Quarter Highlights
- Midwest & South. This segment includes Silver Slipper Casino and Hotel, Rising Star Casino Resort, and American Place Casino. Revenues for the segment were $58.3 million in the third quarter of 2025, a 7.0% increase from $54.5 million in the prior-year period. Revenues at American Place rose 14.0% from the third quarter of 2024, reaching an all-time property revenue record of $32.0 million. Adjusted Segment EBITDA was $11.6 million, a 12.7% increase from $10.2 million in the prior-year period, similarly led by strong growth at American Place, which continues to ramp up its operations.
- West. This segment includes Grand Lodge Casino (located within the Hyatt Regency Lake Tahoe resort in Incline Village), Stockman’s Casino (until the completion of its sale in April 2025), Bronco Billy’s Casino, and Chamonix Casino Hotel, which opened in phases between December 2023 and October 2024. Bronco Billy’s and Chamonix are two integrated and adjoining casinos, operating as a single entity. Revenues for the segment were $18.0 million in the third quarter of 2025, versus $19.4 million in the prior-year period. These results reflect growth at Chamonix/Bronco Billy’s, offset by the sale of Stockman’s and renovation-related disruptions at the Hyatt Lake Tahoe that houses our Grand Lodge Casino. Adjusted Segment EBITDA rose 167.9% to $3.2 million in the third quarter of 2025, with $2.1 million of such amount generated by Chamonix/Bronco Billy’s in Colorado. In the prior-year period, Adjusted Segment EBITDA was $1.2 million, including $(0.7) million from our Colorado operations. As the Company’s newest property, Chamonix is early in its expected ramp, with operations expected to continue improving in the coming quarters and years.
- Contracted Sports Wagering. This segment consists of our on-site and online sports wagering “skins” (akin to websites) in Colorado, Indiana, and Illinois. Revenues and Adjusted Segment EBITDA were $1.6 million and $1.5 million, respectively, in the third quarter of 2025. In the prior-year period, revenues and Adjusted Segment EBITDA were $1.8 million and $2.0 million, respectively.
In January 2025, we received notice that our contracted sports betting operator in Colorado and Indiana was discontinuing its operations in those states, to be effective in June 2025 and December 2025, respectively. In July 2025, such operator reversed its decision to discontinue its Indiana operations and fully prepaid its remaining term for such skin through December 2031 for a negotiated fee of $1.5 million.
Liquidity and Capital Resources
As of September 30, 2025, we had $30.9 million in cash and cash equivalents. Our debt consisted primarily of $450.0 million in outstanding senior secured notes due 2028, which are currently callable. We also had $10.0 million available under our $40.0 million revolving credit facility.
Conference Call Information
We will host a conference call for investors today, November 6, 2025, at 2:00 p.m. ET (11:00 a.m. PT) to discuss our 2025 third quarter results. Investors can access the live audio webcast from our website at www.fullhouseresorts.com under the investor relations section. The conference call can also be accessed by dialing (201) 689-8470.
A replay of the conference call will be available shortly after the conclusion of the call through November 20, 2025. To access the replay, please visit www.fullhouseresorts.com. Investors can also access the replay by dialing (412) 317-6671 and using the passcode 13753302.
(a) Reconciliation of Non-GAAP Financial Measures
Our presentation of non-GAAP Measures may be different from the presentation used by other companies, and therefore, comparability may be limited. While excluded from certain non-GAAP Measures, depreciation and amortization expense, interest expense, income taxes and other items have been and will be incurred. Each of these items should also be considered in the overall evaluation of our results. Additionally, our non-GAAP Measures do not consider capital expenditures and other investing activities and should not be considered as a measure of our liquidity. We compensate for these limitations by providing the relevant disclosure of our depreciation and amortization, interest and income taxes, and other items both in our reconciliations to the historical GAAP financial measures and in our consolidated financial statements, all of which should be considered when evaluating our performance.
Our non-GAAP Measures are to be used in addition to, and in conjunction with, results presented in accordance with GAAP. These non-GAAP Measures should not be considered as an alternative to net income, operating income, or any other operating performance measure prescribed by GAAP, nor should these measures be relied upon to the exclusion of GAAP financial measures. These non-GAAP Measures reflect additional ways of viewing our operations that we believe, when viewed with our GAAP results and the reconciliations to the corresponding historical GAAP financial measures, provide a more complete understanding of factors and trends affecting our business than could be obtained absent this disclosure. Management strongly encourages investors to review our financial information in its entirety and not to rely on a single financial measure.
Adjusted Segment EBITDA. We utilize Adjusted Segment EBITDA as the measure of segment profitability in assessing performance and allocating resources at the reportable segment level. Adjusted Segment EBITDA is defined as earnings before interest and other non-operating income (expense), taxes, depreciation and amortization, preopening expenses, impairment charges, asset write-offs, recoveries, gain (loss) from asset sales and disposals, project development and acquisition costs, non-cash share-based compensation expense, and corporate-related costs and expenses that are not allocated to each segment.
Adjusted Property EBITDA. Adjusted Property EBITDA is defined as earnings before interest and other non-operating income (expense), taxes, depreciation and amortization, preopening expenses, impairment charges, asset write-offs, recoveries, gain (loss) from asset sales and disposals, project development and acquisition costs, non-cash share-based compensation expense, and corporate-related costs and expenses that are not allocated to each property.
Adjusted EBITDA. We also utilize Adjusted EBITDA, which is defined as Adjusted Segment EBITDA, net of corporate-related costs and expenses. Although Adjusted EBITDA is not a measure of performance or liquidity calculated in accordance with GAAP, we believe this non-GAAP financial measure provides meaningful supplemental information regarding our performance and liquidity. We utilize this metric or measure internally to focus management on year-over-year changes in core operating performance, which we consider our ordinary, ongoing and customary operations, and which we believe is useful information to investors. Accordingly, management excludes certain items when analyzing core operating performance, such as the items mentioned above, that management believes are not reflective of ordinary, ongoing and customary operations.
Full House Resorts, Inc. and Subsidiaries
Consolidated Statements of Operations (Unaudited)
(In thousands, except per share data)
| Three Months Ended | Nine Months Ended | |||||||||||||||
| September 30, | September 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Revenues | ||||||||||||||||
| Casino | $ | 59,823 | $ | 56,116 | $ | 172,106 | $ | 162,474 | ||||||||
| Food and beverage | 9,950 | 11,100 | 29,591 | 31,272 | ||||||||||||
| Hotel | 4,465 | 4,693 | 12,027 | 11,287 | ||||||||||||
| Other operations, including contracted sports wagering | 3,712 | 3,778 | 13,230 | 14,070 | ||||||||||||
| 77,950 | 75,687 | 226,954 | 219,103 | |||||||||||||
| Operating costs and expenses | ||||||||||||||||
| Casino | 22,661 | 22,582 | 68,423 | 63,876 | ||||||||||||
| Food and beverage | 9,950 | 11,561 | 29,777 | 32,035 | ||||||||||||
| Hotel | 2,203 | 3,160 | 6,749 | 7,706 | ||||||||||||
| Other operations | 1,155 | 610 | 3,123 | 2,391 | ||||||||||||
| Selling, general and administrative | 27,843 | 26,738 | 82,500 | 76,958 | ||||||||||||
| Project development costs | 57 | 52 | 231 | 55 | ||||||||||||
| Preopening costs | — | 42 | — | 2,462 | ||||||||||||
| Depreciation and amortization | 10,641 | 10,493 | 31,836 | 31,444 | ||||||||||||
| Loss on disposal of assets | — | — | 6 | 18 | ||||||||||||
| Loss (gain) on sale of Stockman’s, net of impairment | 4 | (2,000 | ) | 209 | (2,000 | ) | ||||||||||
| 74,514 | 73,238 | 222,854 | 214,945 | |||||||||||||
| Operating income | 3,436 | 2,449 | 4,100 | 4,158 | ||||||||||||
| Other expenses | ||||||||||||||||
| Interest expense, net | (11,128 | ) | (11,047 | ) | (31,779 | ) | (32,320 | ) | ||||||||
| Other | — | — | (50 | ) | — | |||||||||||
| (11,128 | ) | (11,047 | ) | (31,829 | ) | (32,320 | ) | |||||||||
| Loss before income taxes | (7,692 | ) | (8,598 | ) | (27,729 | ) | (28,162 | ) | ||||||||
| Income tax (benefit) provision | (14 | ) | (126 | ) | 97 | 211 | ||||||||||
| Net loss | $ | (7,678 | ) | $ | (8,472 | ) | $ | (27,826 | ) | $ | (28,373 | ) | ||||
| Basic loss per share | $ | (0.21 | ) | $ | (0.24 | ) | $ | (0.77 | ) | $ | (0.82 | ) | ||||
| Diluted loss per share | $ | (0.21 | ) | $ | (0.24 | ) | $ | (0.77 | ) | $ | (0.82 | ) | ||||
| Basic weighted average number of common shares outstanding | 36,111 | 34,944 | 36,000 | 34,749 | ||||||||||||
| Diluted weighted average number of common shares outstanding | 36,111 | 34,944 | 36,000 | 34,749 | ||||||||||||
Full House Resorts, Inc. and Subsidiaries
Supplemental Information
Segment Revenues, Adjusted Segment EBITDA and Adjusted EBITDA
(In thousands, Unaudited)
| Three Months Ended | Nine Months Ended | |||||||||||||||
| September 30, | September 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Revenues | ||||||||||||||||
| Midwest & South | $ | 58,325 | $ | 54,510 | $ | 173,300 | $ | 164,599 | ||||||||
| West | 17,993 | 19,387 | 48,083 | 47,571 | ||||||||||||
| Contracted Sports Wagering | 1,632 | 1,790 | 5,571 | 6,933 | ||||||||||||
| $ | 77,950 | $ | 75,687 | $ | 226,954 | $ | 219,103 | |||||||||
| Adjusted Segment EBITDA(1)and Adjusted EBITDA | ||||||||||||||||
| Midwest & South | $ | 11,552 | $ | 10,249 | $ | 37,414 | $ | 35,206 | ||||||||
| West | 3,209 | 1,198 | (395 | ) | 1,928 | |||||||||||
| Contracted Sports Wagering | 1,542 | 2,037 | 5,333 | 6,549 | ||||||||||||
| Adjusted Segment EBITDA | 16,303 | 13,484 | 42,352 | 43,683 | ||||||||||||
| Corporate | (1,491 | ) | (1,742 | ) | (4,919 | ) | (5,391 | ) | ||||||||
| Adjusted EBITDA | $ | 14,812 | $ | 11,742 | $ | 37,433 | $ | 38,292 | ||||||||
__________
(1) The Company utilizes Adjusted Segment EBITDA as the measure of segment operating profitability in assessing performance and allocating resources at the reportable segment level.
Supplemental Information
West Segment Revenues, Adjusted Property EBITDA and Adjusted Segment EBITDA
(In thousands, Unaudited)
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| September 30, | Increase / | September 30, | Increase / | ||||||||||||||||||||
| 2025 | 2024 | (Decrease) | 2025 | 2024 | (Decrease) | ||||||||||||||||||
| Revenues by Property for West Segment | |||||||||||||||||||||||
| Bronco Billy’s Casino and Chamonix Casino Hotel | $ | 13,994 | $ | 13,048 | 7.3 | % | $ | 37,258 | $ | 32,520 | 14.6 | % | |||||||||||
| Grand Lodge Casino | 3,999 | 4,795 | (16.6 | ) | % | 9,503 | 10,548 | (9.9 | ) | % | |||||||||||||
| Stockman’s Casino(1) | — | 1,544 | (100.0 | ) | % | 1,322 | 4,503 | (70.6 | ) | % | |||||||||||||
| $ | 17,993 | $ | 19,387 | (7.2 | ) | % | $ | 48,083 | $ | 47,571 | 1.1 | % | |||||||||||
| Adjusted Property EBITDA for West Segment | |||||||||||||||||||||||
| Bronco Billy’s Casino and Chamonix Casino Hotel | $ | 2,093 | $ | (673 | ) | N.M. | $ | (1,362 | ) | $ | (572 | ) | 138.1 | % | |||||||||
| Grand Lodge Casino | 1,116 | 1,837 | (39.2 | ) | % | 1,369 | 2,388 | (42.7 | ) | % | |||||||||||||
| Stockman’s Casino(1) | — | 34 | (100.0 | ) | % | (402 | ) | 112 | N.M. | ||||||||||||||
| $ | 3,209 | $ | 1,198 | 167.9 | % | $ | (395 | ) | $ | 1,928 | N.M. | ||||||||||||
__________
N.M. Not meaningful.
(1) On April 1, 2025, the Company completed the sale of Stockman’s Casino.
Full House Resorts, Inc. and Subsidiaries
Supplemental Information
Reconciliation of Net Loss and Operating Income to Adjusted EBITDA
(In thousands, Unaudited)
| Three Months Ended | Nine Months Ended | ||||||||||||||
| September 30, | September 30, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Net loss | $ | (7,678 | ) | $ | (8,472 | ) | $ | (27,826 | ) | $ | (28,373 | ) | |||
| Income tax (benefit) provision | (14 | ) | (126 | ) | 97 | 211 | |||||||||
| Interest expense, net | 11,128 | 11,047 | 31,779 | 32,320 | |||||||||||
| Other | — | — | 50 | — | |||||||||||
| Operating income | 3,436 | 2,449 | 4,100 | 4,158 | |||||||||||
| Project development costs | 57 | 52 | 231 | 55 | |||||||||||
| Preopening costs | — | 42 | — | 2,462 | |||||||||||
| Depreciation and amortization | 10,641 | 10,493 | 31,836 | 31,444 | |||||||||||
| Loss on disposal of assets | — | — | 6 | 18 | |||||||||||
| Loss (gain) on sale of Stockman’s, net of impairment | 4 | (2,000 | ) | 209 | (2,000 | ) | |||||||||
| Stock-based compensation, net | 674 | 706 | 1,051 | 2,155 | |||||||||||
| Adjusted EBITDA | $ | 14,812 | $ | 11,742 | $ | 37,433 | $ | 38,292 | |||||||
Full House Resorts, Inc. and Subsidiaries
Supplemental Information
Reconciliation of Operating Income (Loss) to Adjusted Segment EBITDA and Adjusted EBITDA
(In thousands, Unaudited)
| Three Months Ended September 30, 2025 | ||||||||||||||||||||
| Adjusted | ||||||||||||||||||||
| Segment | ||||||||||||||||||||
| Operating | Depreciation | Loss on | Project | Stock- | EBITDA and | |||||||||||||||
| Income | and | Sale of | Development | Based | Adjusted | |||||||||||||||
| (Loss) | Amortization | Stockman’s | Costs | Compensation | EBITDA | |||||||||||||||
| Reporting segments | ||||||||||||||||||||
| Midwest & South | $ | 5,389 | $ | 6,163 | $ | — | $ | — | $ | — | $ | 11,552 | ||||||||
| West | (1,260 | ) | 4,465 | 4 | — | — | 3,209 | |||||||||||||
| Contracted Sports Wagering | 1,542 | — | — | — | — | 1,542 | ||||||||||||||
| 5,671 | 10,628 | 4 | — | — | 16,303 | |||||||||||||||
| Other operations | ||||||||||||||||||||
| Corporate | (2,235 | ) | 13 | — | 57 | 674 | (1,491 | ) | ||||||||||||
| $ | 3,436 | $ | 10,641 | $ | 4 | $ | 57 | $ | 674 | $ | 14,812 | |||||||||
| Three Months Ended September 30, 2024 | ||||||||||||||||||||||||
| Adjusted | ||||||||||||||||||||||||
| Segment | ||||||||||||||||||||||||
| Operating | Depreciation | Gain on | Project | Stock- | EBITDA and | |||||||||||||||||||
| Income | and | Sale of | Development | Preopening | Based | Adjusted | ||||||||||||||||||
| (Loss) | Amortization | Stockman’s | Costs | Costs | Compensation | EBITDA | ||||||||||||||||||
| Reporting segments | ||||||||||||||||||||||||
| Midwest & South | $ | 4,091 | $ | 6,158 | $ | — | $ | — | $ | — | $ | — | $ | 10,249 | ||||||||||
| West | (1,141 | ) | 4,297 | (2,000 | ) | — | 42 | — | 1,198 | |||||||||||||||
| Contracted Sports Wagering | 2,037 | — | — | — | — | — | 2,037 | |||||||||||||||||
| 4,987 | 10,455 | (2,000 | ) | — | 42 | — | 13,484 | |||||||||||||||||
| Other operations | ||||||||||||||||||||||||
| Corporate | (2,538 | ) | 38 | — | 52 | — | 706 | (1,742 | ) | |||||||||||||||
| $ | 2,449 | $ | 10,493 | $ | (2,000 | ) | $ | 52 | $ | 42 | $ | 706 | $ | 11,742 | ||||||||||
Full House Resorts, Inc. and Subsidiaries
Supplemental Information
Reconciliation of Operating Income (Loss) to Adjusted Segment EBITDA and Adjusted EBITDA
(In thousands, Unaudited)
| Nine Months Ended September 30, 2025 | |||||||||||||||||||||||
| Adjusted | |||||||||||||||||||||||
| Loss on | Stock- | Segment | |||||||||||||||||||||
| Operating | Depreciation | Loss on | Sale of | Project | Based | EBITDA and | |||||||||||||||||
| Income | and | Disposal | Stockman’s, | Development | Compensation, | Adjusted | |||||||||||||||||
| (Loss) | Amortization | of Assets | net | Costs | net | EBITDA | |||||||||||||||||
| Reporting segments | |||||||||||||||||||||||
| Midwest & South | $ | 18,833 | $ | 18,575 | $ | 6 | $ | — | $ | — | $ | — | $ | 37,414 | |||||||||
| West | (13,817 | ) | 13,213 | — | 209 | — | — | (395 | ) | ||||||||||||||
| Contracted Sports Wagering | 5,333 | — | — | — | — | — | 5,333 | ||||||||||||||||
| 10,349 | 31,788 | 6 | 209 | — | — | 42,352 | |||||||||||||||||
| Other operations | |||||||||||||||||||||||
| Corporate | (6,249 | ) | 48 | — | — | 231 | 1,051 | (4,919 | ) | ||||||||||||||
| $ | 4,100 | $ | 31,836 | $ | 6 | $ | 209 | $ | 231 | $ | 1,051 | $ | 37,433 | ||||||||||
| Nine Months Ended September 30, 2024 | |||||||||||||||||||||||||||
| Adjusted | |||||||||||||||||||||||||||
| Segment | |||||||||||||||||||||||||||
| Operating | Depreciation | Loss on | Gain on | Project | Stock- | EBITDA and | |||||||||||||||||||||
| Income | and | Disposal | Sale of | Development | Preopening | Based | Adjusted | ||||||||||||||||||||
| (Loss) | Amortization | of Assets | Stockman’s | Costs | Costs | Compensation | EBITDA | ||||||||||||||||||||
| Reporting segments | |||||||||||||||||||||||||||
| Midwest & South | $ | 16,134 | $ | 18,935 | $ | 18 | $ | — | $ | — | $ | 119 | $ | — | $ | 35,206 | |||||||||||
| West | (10,827 | ) | 12,412 | — | (2,000 | ) | — | 2,343 | — | 1,928 | |||||||||||||||||
| Contracted Sports Wagering | 6,549 | — | — | — | — | — | — | 6,549 | |||||||||||||||||||
| 11,856 | 31,347 | 18 | (2,000 | ) | — | 2,462 | — | 43,683 | |||||||||||||||||||
| Other operations | |||||||||||||||||||||||||||
| Corporate | (7,698 | ) | 97 | — | — | 55 | — | 2,155 | (5,391 | ) | |||||||||||||||||
| $ | 4,158 | $ | 31,444 | $ | 18 | $ | (2,000 | ) | $ | 55 | $ | 2,462 | $ | 2,155 | $ | 38,292 | |||||||||||
Cautionary Note Regarding Forward-looking Statements
This press release contains statements by us and our officers that are “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “believe,” “project,” “expect,” “future,” “should,” “will” and similar references to future periods. Some forward-looking statements in this press release include details regarding our growth projects, including our expected construction budgets, estimated commencement and completion dates, and expected amenities; our expected operational performance for our growth projects, including Chamonix and American Place; our expectations regarding the timing of the ramp-up of operations of Chamonix and American Place; our expectations regarding the operation and performance of our other properties and segments; our expectations regarding the renovation-related disruptions at the Hyatt Lake Tahoe that houses our Grand Lodge Casino; our expectations regarding our ability to generate operating cash flow and to obtain debt financing on reasonable terms and conditions for the construction of the permanent American Place facility; our expectations regarding our ability to refinance our outstanding debt; our expectations regarding the effect of management changes and operational improvements at our properties, including Chamonix; our expectations regarding the effect of our revamped marketing strategy at Chamonix, including our ability to access the Colorado Springs and southern Denver markets; and our sports wagering contracts with third-party providers, including the expected revenues and expenses, as well as our expectations regarding the potential usage of our idle sports skins by us or others.
Forward-looking statements are neither historical facts nor assurances of future performance. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Such risks include, without limitation, our ability to repay and/or refinance our substantial indebtedness; our ability to finance the construction of the permanent American Place facility; our ability to complete construction at American Place, on-time and on-budget; legal or regulatory restrictions, delays, or challenges for our construction projects, including American Place; construction risks, disputes and cost overruns; inflation, tariffs, immigration policies, and their potential impacts on labor costs and the price of food, construction, and other materials; the effects of potential disruptions in the supply chains for goods, such as food, lumber, and other materials; general macroeconomic conditions; our ability to effectively manage and control expenses; dependence on existing management; competition; uncertainties over the development and success of our expansion projects; the financial performance of our finished projects and renovations; effectiveness of expense and operating efficiencies; effectiveness of management changes and operational improvements at our properties; effectiveness of our marketing efforts; changes in guest visitation or spending patterns due to economic conditions, health, international relations or other concerns; cyber events and their impacts to our operations; and regulatory and business conditions in the gaming industry (including the possible authorization or expansion of gaming in the states we operate or nearby states). Additional information concerning potential factors that could affect our financial condition and results of operations is included in the reports we file with the Securities and Exchange Commission, including, but not limited to, Part I, Item 1A. Risk Factors and Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations of our Annual Report on Form 10-K for the most recently ended fiscal year and our other periodic reports filed with the Securities and Exchange Commission. We are under no obligation to (and expressly disclaim any such obligation to) update or revise our forward-looking statements as a result of new information, future events or otherwise. Actual results may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements.
About Full House Resorts, Inc.
We own, lease, develop and operate gaming facilities throughout the country. Our properties include American Place in Waukegan, Illinois; Silver Slipper Casino and Hotel in Hancock County, Mississippi; Chamonix Casino Hotel and Bronco Billy’s Casino in Cripple Creek, Colorado; Rising Star Casino Resort in Rising Sun, Indiana; and Grand Lodge Casino, located within the Hyatt Regency Lake Tahoe Resort, Spa and Casino in Incline Village, Nevada. For further information, please visit www.fullhouseresorts.com.
Contact:
Lewis Fanger, President & Chief Financial Officer
Full House Resorts, Inc.
702-221-7800
www.fullhouseresorts.com
LAS VEGAS, Oct. 09, 2025 (GLOBE NEWSWIRE) — Full House Resorts (NASDAQ: FLL) announced today that it will report its third quarter 2025 financial results on Thursday, November 6, 2025, followed by a conference call at 2:00 p.m. ET (11:00 a.m. PT). Investors can access the live audio webcast from the Company’s website at www.fullhouseresorts.com under the investor relations section. The conference call can also be accessed by dialing (201) 689-8470.
A replay of the conference call will be available shortly after the conclusion of the call through November 20, 2025. To access the replay, please visit www.fullhouseresorts.com. Investors can also access the replay by dialing (412) 317-6671 and using the passcode 13753302.
Forward-looking Statements
This press release may contain statements by Full House Resorts, Inc. that are “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Additional information concerning potential factors that could affect our financial condition and results of operations is included in the reports we file with the SEC, including, but not limited to, our Form 10-K for the most recently ended fiscal year and our other periodic reports filed with the SEC. We are under no obligation to (and expressly disclaim any such obligation to) update or revise our forward-looking statements as a result of new information, future events or otherwise, except as otherwise required by law. Actual results may differ materially from those indicated in the forward-looking statements.
About Full House Resorts, Inc.
Full House Resorts owns, leases, develops and operates gaming facilities throughout the country. The Company’s properties include American Place in Waukegan, Illinois; Chamonix Casino Hotel and Bronco Billy’s Casino, both in Cripple Creek, Colorado; Silver Slipper Casino and Hotel in Hancock County, Mississippi; Rising Star Casino Resort in Rising Sun, Indiana; and Grand Lodge Casino, located within the Hyatt Regency Lake Tahoe Resort, Spa and Casino in Incline Village, Nevada. For further information, please visit www.fullhouseresorts.com.
Contact:
Lewis Fanger, President
Full House Resorts, Inc.
(702) 221-7800
www.fullhouseresorts.com
– American Place Casino Continued Its Strong Growth, Achieving Record Net Revenue and Operating Profit
– Colorado Operations Reported a 7.8% Increase in Revenue Compared to the Prior-Year Period
– Revamped Marketing Efforts at Chamonix Began in the Third Quarter; Focused Cost Reductions at the Property in the Second Quarter are Expected to Produce $4 Million in Annualized Savings
LAS VEGAS, Aug. 07, 2025 (GLOBE NEWSWIRE) — Full House Resorts, Inc. (Nasdaq: FLL) today announced results for the second quarter ended June 30, 2025.
On a consolidated basis, revenues in the second quarter of 2025 were $73.9 million, a 0.6% increase from $73.5 million in the prior-year period. These results reflect the continued ramp-up of operations at the Company’s two newest properties, American Place Casino and Chamonix Casino Hotel, partially offset by the sale of Stockman’s Casino, modifications to our contracted sports agreements in mid-2024, and a decline in revenues at the Silver Slipper Casino and Hotel. Net loss for the second quarter of 2025 was $10.4 million, or $(0.29) per diluted common share. In the prior-year period, net loss was $8.6 million, or $(0.25) per diluted common share. Adjusted EBITDA(a) was $11.1 million in the second quarter of 2025, versus $14.1 million in the 2024 period. These results reflect strong growth at American Place offset by elevated costs at Chamonix, as its operations were fully open in the recent quarter, but only partially open in the prior-year period. Under the leadership of its new general manager, Chamonix’s management team continues to target areas for improved operating efficiency, while also emphasizing profitable long-term growth. Operating costs at Chamonix were $1.2 million lower in the second quarter versus the first quarter of 2025.
“American Place continued its strong ramp in operations, delivering record net revenue and operating profit in the second quarter,” said Daniel R. Lee, Chief Executive Officer of Full House Resorts. “This strong performance reflects the growing awareness and popularity of American Place throughout Chicago’s populous northern suburbs. Over the coming quarters, we expect the financial results for our temporary American Place casino to continue to improve, as we add a poker room and continue to build awareness in the region.
“We also continue to make progress toward the start of construction of the permanent American Place facility. Our excitement for our permanent facility continues to be guided by four thoughts: the strength of our location in populous suburbs with easy access from several major traffic arteries; the continued growth from other casinos that recently transitioned from temporary to permanent facilities; the lack of a permanent, premium gaming and entertainment experience for residents of Lake County and other nearby communities; and our own experiences at our temporary casino, which continues to grow and flourish.”
Continued Mr. Lee, “As we noted last quarter, we recently introduced a new management team at Chamonix. During the second quarter, that team focused principally on inefficient operations, identifying more than $4 million of annual expenses that do not impact our high-end guest experience. Revamped marketing efforts – which should enable continued revenue growth at Chamonix, as well as improve overall profits – launched in the current third quarter. We believe these efforts will benefit Chamonix in the coming quarters and years, allowing it to reach levels of profitability that we have always expected it to achieve.”
Second Quarter Highlights and Subsequent Events
- Midwest & South. This segment includes Silver Slipper Casino and Hotel, Rising Star Casino Resort, and American Place Casino. Revenues for the segment were $57.8 million in the second quarter of 2025, a 4.2% increase from $55.5 million in the prior-year period. Revenues at American Place rose 12.7% from the second quarter of 2024, reaching an all-time property revenue record of $30.7 million. Adjusted Segment EBITDA was $12.8 million, a 3.9% increase from $12.3 million in the prior-year period, similarly led by strong growth at American Place.
- West. This segment includes Grand Lodge Casino (located within the Hyatt Regency Lake Tahoe resort in Incline Village), Stockman’s Casino (until the completion of its sale in April 2025), Bronco Billy’s Casino, and Chamonix Casino Hotel, which opened in phases between December 2023 and October 2024. Bronco Billy’s and Chamonix are two integrated and adjoining casinos, operating as a single entity. Revenues for the segment decreased 4.4% to $14.5 million in the second quarter of 2025, versus $15.2 million in the prior-year period, with revenue growth at Grand Lodge and Chamonix/Bronco Billy’s offset by the sale of Stockman’s. Adjusted Segment EBITDA was $(1.1) million in the second quarter of 2025, reflecting initial inefficiencies from Chamonix’s ramp-up phase, though meaningfully improved from the first quarter of 2025. Under Chamonix’s new management team, the Company expects more than $4 million in annualized savings from recent cost-saving initiatives. Additionally, we revamped significant portions of Chamonix’s marketing strategy in recent weeks and expect those revised programs to drive meaningful growth in revenues and profits as the property’s operations continue to ramp. In the prior-year period, Adjusted Segment EBITDA was $0.9 million.
- Contracted Sports Wagering. This segment consists of our on-site and online sports wagering “skins” (akin to websites) in Colorado, Indiana, and Illinois. Revenues and Adjusted Segment EBITDA were $1.7 million and $1.6 million, respectively, in the second quarter of 2025. In the prior-year period, revenues and Adjusted Segment EBITDA were $2.9 million and $2.6 million, respectively, reflecting $0.9 million of accelerated revenue from an online sports wagering “skin” that ceased operations.
In January 2025, we received notice that our remaining contracted sports betting operator in Colorado and Indiana was discontinuing its operations in those states, to be effective in June 2025 and December 2025, respectively. In July 2025, such operator reversed its decision related to our Indiana skin and fully prepaid its remaining term through December 2031 for a reduced fee totaling $1.5 million.
Liquidity and Capital Resources
As of June 30, 2025, we had $32.1 million in cash and cash equivalents. Our debt consisted primarily of $450.0 million in outstanding senior secured notes due 2028, which is currently callable. We also had $25.0 million outstanding under our revolving credit facility, a reduction from $30.0 million outstanding at March 31, 2025.
Conference Call Information
We will host a conference call for investors today, August 7, 2025, at 4:30 p.m. ET (1:30 p.m. PT) to discuss our 2025 second quarter results. Investors can access the live audio webcast from our website at www.fullhouseresorts.com under the investor relations section. The conference call can also be accessed by dialing (201) 689-8470.
A replay of the conference call will be available shortly after the conclusion of the call through August 21, 2025. To access the replay, please visit www.fullhouseresorts.com. Investors can also access the replay by dialing (412) 317-6671 and using the passcode 13753301.
(a) Reconciliation of Non-GAAP Financial Measures
Our presentation of non-GAAP Measures may be different from the presentation used by other companies, and therefore, comparability may be limited. While excluded from certain non-GAAP Measures, depreciation and amortization expense, interest expense, income taxes and other items have been and will be incurred. Each of these items should also be considered in the overall evaluation of our results. Additionally, our non-GAAP Measures do not consider capital expenditures and other investing activities and should not be considered as a measure of our liquidity. We compensate for these limitations by providing the relevant disclosure of our depreciation and amortization, interest and income taxes, and other items both in our reconciliations to the historical GAAP financial measures and in our consolidated financial statements, all of which should be considered when evaluating our performance.
Our non-GAAP Measures are to be used in addition to, and in conjunction with, results presented in accordance with GAAP. These non-GAAP Measures should not be considered as an alternative to net income, operating income, or any other operating performance measure prescribed by GAAP, nor should these measures be relied upon to the exclusion of GAAP financial measures. These non-GAAP Measures reflect additional ways of viewing our operations that we believe, when viewed with our GAAP results and the reconciliations to the corresponding historical GAAP financial measures, provide a more complete understanding of factors and trends affecting our business than could be obtained absent this disclosure. Management strongly encourages investors to review our financial information in its entirety and not to rely on a single financial measure.
Adjusted Segment EBITDA. We utilize Adjusted Segment EBITDA as the measure of segment profitability in assessing performance and allocating resources at the reportable segment level. Adjusted Segment EBITDA is defined as earnings before interest and other non-operating income (expense), taxes, depreciation and amortization, preopening expenses, impairment charges, asset write-offs, recoveries, gain (loss) from asset sales and disposals, project development and acquisition costs, non-cash share-based compensation expense, and corporate-related costs and expenses that are not allocated to each segment.
Adjusted Property EBITDA. Adjusted Property EBITDA is defined as earnings before interest and other non-operating income (expense), taxes, depreciation and amortization, preopening expenses, impairment charges, asset write-offs, recoveries, gain (loss) from asset sales and disposals, project development and acquisition costs, non-cash share-based compensation expense, and corporate-related costs and expenses that are not allocated to each property.
Adjusted EBITDA. We also utilize Adjusted EBITDA, which is defined as Adjusted Segment EBITDA, net of corporate-related costs and expenses. Although Adjusted EBITDA is not a measure of performance or liquidity calculated in accordance with GAAP, we believe this non-GAAP financial measure provides meaningful supplemental information regarding our performance and liquidity. We utilize this metric or measure internally to focus management on year-over-year changes in core operating performance, which we consider our ordinary, ongoing and customary operations, and which we believe is useful information to investors. Accordingly, management excludes certain items when analyzing core operating performance, such as the items mentioned above, that management believes are not reflective of ordinary, ongoing and customary operations.
Full House Resorts, Inc. and Subsidiaries
Consolidated Statements of Operations (Unaudited)
(In thousands, except per share data)
| Three Months Ended | Six Months Ended | |||||||||||||||
| June 30, | June 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Revenues | ||||||||||||||||
| Casino | $ | 56,983 | $ | 54,685 | $ | 112,283 | $ | 106,358 | ||||||||
| Food and beverage | 9,580 | 10,403 | 19,641 | 20,172 | ||||||||||||
| Hotel | 3,720 | 3,742 | 7,562 | 6,594 | ||||||||||||
| Other operations, including contracted sports wagering | 3,663 | 4,662 | 9,518 | 10,292 | ||||||||||||
| 73,946 | 73,492 | 149,004 | 143,416 | |||||||||||||
| Operating costs and expenses | ||||||||||||||||
| Casino | 22,877 | 20,719 | 45,762 | 41,294 | ||||||||||||
| Food and beverage | 9,508 | 10,714 | 19,827 | 20,474 | ||||||||||||
| Hotel | 2,183 | 2,383 | 4,546 | 4,546 | ||||||||||||
| Other operations | 964 | 990 | 1,810 | 1,781 | ||||||||||||
| Selling, general and administrative | 27,874 | 25,285 | 54,815 | 50,220 | ||||||||||||
| Project development costs | 33 | 3 | 174 | 3 | ||||||||||||
| Preopening costs | — | 757 | — | 2,420 | ||||||||||||
| Depreciation and amortization | 10,588 | 10,326 | 21,195 | 20,951 | ||||||||||||
| Loss on disposal of assets | — | — | 6 | 18 | ||||||||||||
| (Gain) loss on sale of Stockman’s, net of impairment | (7 | ) | — | 205 | — | |||||||||||
| 74,020 | 71,177 | 148,340 | 141,707 | |||||||||||||
| Operating (loss) income | (74 | ) | 2,315 | 664 | 1,709 | |||||||||||
| Other expenses | ||||||||||||||||
| Interest expense, net | (10,354 | ) | (11,023 | ) | (20,651 | ) | (21,273 | ) | ||||||||
| Other | (50 | ) | — | (50 | ) | — | ||||||||||
| (10,404 | ) | (11,023 | ) | (20,701 | ) | (21,273 | ) | |||||||||
| Loss before income taxes | (10,478 | ) | (8,708 | ) | (20,037 | ) | (19,564 | ) | ||||||||
| Income tax (benefit) provision | (95 | ) | (79 | ) | 111 | 337 | ||||||||||
| Net loss | $ | (10,383 | ) | $ | (8,629 | ) | $ | (20,148 | ) | $ | (19,901 | ) | ||||
| Basic loss per share | $ | (0.29 | ) | $ | (0.25 | ) | $ | (0.56 | ) | $ | (0.57 | ) | ||||
| Diluted loss per share | $ | (0.29 | ) | $ | (0.25 | ) | $ | (0.56 | ) | $ | (0.57 | ) | ||||
| Basic weighted average number of common shares outstanding | 36,055 | 34,710 | 35,944 | 34,650 | ||||||||||||
| Diluted weighted average number of common shares outstanding | 36,055 | 34,710 | 35,944 | 34,650 | ||||||||||||
Full House Resorts, Inc. and Subsidiaries
Supplemental Information
Segment Revenues, Adjusted Segment EBITDA and Adjusted EBITDA
(In thousands, Unaudited)
| Three Months Ended | Six Months Ended | |||||||||||||||
| June 30, | June 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Revenues | ||||||||||||||||
| Midwest & South | $ | 57,802 | $ | 55,458 | $ | 114,976 | $ | 110,088 | ||||||||
| West | 14,485 | 15,151 | 30,089 | 28,185 | ||||||||||||
| Contracted Sports Wagering | 1,659 | 2,883 | 3,939 | 5,143 | ||||||||||||
| $ | 73,946 | $ | 73,492 | $ | 149,004 | $ | 143,416 | |||||||||
| Adjusted Segment EBITDA(1) and Adjusted EBITDA | ||||||||||||||||
| Midwest & South | $ | 12,757 | $ | 12,275 | $ | 25,865 | $ | 24,958 | ||||||||
| West | (1,138 | ) | 865 | (3,606 | ) | 731 | ||||||||||
| Contracted Sports Wagering | 1,611 | 2,577 | 3,791 | 4,512 | ||||||||||||
| Adjusted Segment EBITDA | 13,230 | 15,717 | 26,050 | 30,201 | ||||||||||||
| Corporate | (2,096 | ) | (1,576 | ) | (3,429 | ) | (3,651 | ) | ||||||||
| Adjusted EBITDA | $ | 11,134 | $ | 14,141 | $ | 22,621 | $ | 26,550 | ||||||||
__________
(1) The Company utilizes Adjusted Segment EBITDA as the measure of segment operating profitability in assessing performance and allocating resources at the reportable segment level.
Full House Resorts, Inc. and Subsidiaries
Supplemental Information
Reconciliation of Net Loss and Operating Income (Loss) to Adjusted EBITDA
(In thousands, Unaudited)
| Three Months Ended | Six Months Ended | ||||||||||||||
| June 30, | June 30, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Net loss | $ | (10,383 | ) | $ | (8,629 | ) | $ | (20,148 | ) | $ | (19,901 | ) | |||
| Income tax (benefit) provision | (95 | ) | (79 | ) | 111 | 337 | |||||||||
| Interest expense, net | 10,354 | 11,023 | 20,651 | 21,273 | |||||||||||
| Other | 50 | — | 50 | — | |||||||||||
| Operating (loss) income | (74 | ) | 2,315 | 664 | 1,709 | ||||||||||
| Project development costs | 33 | 3 | 174 | 3 | |||||||||||
| Preopening costs | — | 757 | — | 2,420 | |||||||||||
| Depreciation and amortization | 10,588 | 10,326 | 21,195 | 20,951 | |||||||||||
| Loss on disposal of assets | — | — | 6 | 18 | |||||||||||
| (Gain) loss on sale of Stockman’s, net of impairment | (7 | ) | — | 205 | — | ||||||||||
| Stock-based compensation, net | 594 | 740 | 377 | 1,449 | |||||||||||
| Adjusted EBITDA | $ | 11,134 | $ | 14,141 | $ | 22,621 | $ | 26,550 | |||||||
Full House Resorts, Inc. and Subsidiaries
Supplemental Information
Reconciliation of Operating Income (Loss) to Adjusted Segment EBITDA and Adjusted EBITDA
(In thousands, Unaudited)
| Three Months Ended June 30, 2025 | |||||||||||||||||||||||
| Adjusted | |||||||||||||||||||||||
| Segment | |||||||||||||||||||||||
| Operating | Depreciation | Gain on | Project | Stock- | EBITDA and | ||||||||||||||||||
| Income | and | Sale of | Development | Based | Adjusted | ||||||||||||||||||
| (Loss) | Amortization | Stockman’s | Costs | Compensation | EBITDA | ||||||||||||||||||
| Reporting segments | |||||||||||||||||||||||
| Midwest & South | $ | 6,552 | $ | 6,205 | $ | — | $ | — | $ | — | $ | 12,757 | |||||||||||
| West | (5,501 | ) | 4,370 | (7 | ) | — | — | (1,138 | ) | ||||||||||||||
| Contracted Sports Wagering | 1,611 | — | — | — | — | 1,611 | |||||||||||||||||
| 2,662 | 10,575 | (7 | ) | — | — | 13,230 | |||||||||||||||||
| Other operations | |||||||||||||||||||||||
| Corporate | (2,736 | ) | 13 | — | 33 | 594 | (2,096 | ) | |||||||||||||||
| $ | (74 | ) | $ | 10,588 | $ | (7 | ) | $ | 33 | $ | 594 | $ | 11,134 | ||||||||||
| Three Months Ended June 30, 2024 | |||||||||||||||||||||||
| Adjusted | |||||||||||||||||||||||
| Segment | |||||||||||||||||||||||
| Operating | Depreciation | Project | Stock- | EBITDA and | |||||||||||||||||||
| Income | and | Development | Preopening | Based | Adjusted | ||||||||||||||||||
| (Loss) | Amortization | Costs | Costs | Compensation | EBITDA | ||||||||||||||||||
| Reporting segments | |||||||||||||||||||||||
| Midwest & South | $ | 6,233 | $ | 6,042 | $ | — | $ | — | $ | — | $ | 12,275 | |||||||||||
| West | (4,148 | ) | 4,256 | — | 757 | — | 865 | ||||||||||||||||
| Contracted Sports Wagering | 2,577 | — | — | — | — | 2,577 | |||||||||||||||||
| 4,662 | 10,298 | — | 757 | — | 15,717 | ||||||||||||||||||
| Other operations | |||||||||||||||||||||||
| Corporate | (2,347 | ) | 28 | 3 | — | 740 | (1,576 | ) | |||||||||||||||
| $ | 2,315 | $ | 10,326 | $ | 3 | $ | 757 | $ | 740 | $ | 14,141 | ||||||||||||
Full House Resorts, Inc. and Subsidiaries
Supplemental Information
Reconciliation of Operating Income (Loss) to Adjusted Segment EBITDA and Adjusted EBITDA
(In thousands, Unaudited)
| Six Months Ended June 30, 2025 | |||||||||||||||||||||||||||
| Adjusted | |||||||||||||||||||||||||||
| Loss on | Stock- | Segment | |||||||||||||||||||||||||
| Operating | Depreciation | Loss on | Sale of | Project | Based | EBITDA and | |||||||||||||||||||||
| Income | and | Disposal | Stockman’s, | Development | Compensation, | Adjusted | |||||||||||||||||||||
| (Loss) | Amortization | of Assets | net | Costs | net | EBITDA | |||||||||||||||||||||
| Reporting segments | |||||||||||||||||||||||||||
| Midwest & South | $ | 13,446 | $ | 12,413 | $ | 6 | $ | — | $ | — | $ | — | $ | 25,865 | |||||||||||||
| West | (12,558 | ) | 8,747 | — | 205 | — | — | (3,606 | ) | ||||||||||||||||||
| Contracted Sports Wagering | 3,791 | — | — | — | — | — | 3,791 | ||||||||||||||||||||
| 4,679 | 21,160 | 6 | 205 | — | — | 26,050 | |||||||||||||||||||||
| Other operations | |||||||||||||||||||||||||||
| Corporate | (4,015 | ) | 35 | — | — | 174 | 377 | (3,429 | ) | ||||||||||||||||||
| $ | 664 | $ | 21,195 | $ | 6 | $ | 205 | $ | 174 | $ | 377 | $ | 22,621 | ||||||||||||||
| Six Months Ended June 30, 2024 | |||||||||||||||||||||||||||
| Adjusted | |||||||||||||||||||||||||||
| Segment | |||||||||||||||||||||||||||
| Operating | Depreciation | Loss on | Project | Stock- | EBITDA and | ||||||||||||||||||||||
| Income | and | Disposal | Development | Preopening | Based | Adjusted | |||||||||||||||||||||
| (Loss) | Amortization | of Assets | Costs | Costs | Compensation | EBITDA | |||||||||||||||||||||
| Reporting segments | |||||||||||||||||||||||||||
| Midwest & South | $ | 12,043 | $ | 12,778 | $ | 18 | $ | — | $ | 119 | $ | — | $ | 24,958 | |||||||||||||
| West | (9,685 | ) | 8,115 | — | — | 2,301 | — | 731 | |||||||||||||||||||
| Contracted Sports Wagering | 4,512 | — | — | — | — | — | 4,512 | ||||||||||||||||||||
| 6,870 | 20,893 | 18 | — | 2,420 | — | 30,201 | |||||||||||||||||||||
| Other operations | |||||||||||||||||||||||||||
| Corporate | (5,161 | ) | 58 | — | 3 | — | 1,449 | (3,651 | ) | ||||||||||||||||||
| $ | 1,709 | $ | 20,951 | $ | 18 | $ | 3 | $ | 2,420 | $ | 1,449 | $ | 26,550 | ||||||||||||||
Cautionary Note Regarding Forward-looking Statements
This press release contains statements by us and our officers that are “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “believe,” “project,” “expect,” “future,” “should,” “will” and similar references to future periods. Some forward-looking statements in this press release include details regarding our growth projects, including our expected construction budgets, estimated commencement and completion dates, and expected amenities; our expected operational performance for our growth projects, including Chamonix and American Place; our expectations regarding the timing of the ramp-up of operations of Chamonix and American Place; our expectations regarding the operation and performance of our other properties and segments; our expectations regarding our ability to generate operating cash flow and to obtain debt financing on reasonable terms and conditions for the construction of the permanent American Place facility; our expectations regarding our ability to refinance our outstanding debt; our expectations regarding the effect of management changes and operational improvements at our properties, including Chamonix; our expectations regarding the effect of our revamped marketing strategy at Chamonix; and our sports wagering contracts with third-party providers, including the expected revenues and expenses, as well as our expectations regarding the potential usage of our idle sports skins by us or others. Forward-looking statements are neither historical facts nor assurances of future performance. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Such risks include, without limitation, our ability to repay our substantial indebtedness; our ability to finance the construction of the permanent American Place facility; our ability to refinance our outstanding debt; inflation, tariffs, immigration policies, and their potential impacts on labor costs and the price of food, construction, and other materials; the effects of potential disruptions in the supply chains for goods, such as food, lumber, and other materials; general macroeconomic conditions; our ability to effectively manage and control expenses; our ability to complete construction at American Place, on-time and on-budget; legal or regulatory restrictions, delays, or challenges for our construction projects, including American Place; construction risks, disputes and cost overruns; dependence on existing management; competition; uncertainties over the development and success of our expansion projects; the financial performance of our finished projects and renovations; effectiveness of expense and operating efficiencies; cyber events and their impacts to our operations; and regulatory and business conditions in the gaming industry (including the possible authorization or expansion of gaming in the states we operate or nearby states). Additional information concerning potential factors that could affect our financial condition and results of operations is included in the reports we file with the Securities and Exchange Commission, including, but not limited to, Part I, Item 1A. Risk Factors and Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations of our Annual Report on Form 10-K for the most recently ended fiscal year and our other periodic reports filed with the Securities and Exchange Commission. We are under no obligation to (and expressly disclaim any such obligation to) update or revise our forward-looking statements as a result of new information, future events or otherwise. Actual results may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements.
About Full House Resorts, Inc.
We own, lease, develop and operate gaming facilities throughout the country. Our properties include American Place in Waukegan, Illinois; Silver Slipper Casino and Hotel in Hancock County, Mississippi; Chamonix Casino Hotel and Bronco Billy’s Casino in Cripple Creek, Colorado; Rising Star Casino Resort in Rising Sun, Indiana; and Grand Lodge Casino, located within the Hyatt Regency Lake Tahoe Resort, Spa and Casino in Incline Village, Nevada. For further information, please visit www.fullhouseresorts.com.
CONTACT: Contact: Lewis Fanger, President & Chief Financial Officer Full House Resorts, Inc. 702-221-7800 www.fullhouseresorts.com
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