Exhibit 4.1

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FIRST SUPPLEMENTAL INDENTURE

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FIRST SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of February 1, 2022, among Full House Resorts, Inc., a Delaware corporation (the “Issuer”), FHR-Illinois LLC (the “Guaranteeing Subsidiary”), the Guarantors (as defined in the Indenture referred to herein) and Wilmington Trust, National Association, as trustee under the Indenture referred to below (in such capacity, the “Trustee”).

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W I T N E S E T H

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WHEREAS, the Issuer has heretofore executed and delivered to the Trustee an indenture (as has been or may be amended, supplemented, or otherwise modified, collectively, the “Indenture”), dated as of February 12, 2021, providing for the issuance of an aggregate principal amount of $310,000,000 of 8.250% Senior Secured Notes due 2028 (the “Notes”);

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WHEREAS, Section 9.02 of the Indenture provides, among other things, that the Issuer, the Guarantors, the Trustee and the Collateral Trustee, as applicable, may amend or supplement the Indenture with the written consent of the Holders of at least a majority in aggregate principal amount of the Notes then outstanding;

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WHEREAS, the Issuer desires to amend the Indenture;

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WHEREAS, the Issuer has solicited consents (“Consents”) of the Holders of the Notes to certain amendments to the Indenture set forth in Section 2 of this Supplemental Indenture (the “Amendments”) pursuant to that certain Consent Solicitation Statement, dated January 25, 2022 (the “Consent Solicitation Statement”);

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WHEREAS, as of the date hereof the Holders of at least a majority in aggregate principal amount of the Notes outstanding, excluding Notes owned by the Issuer, any Guarantor or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Issuer or the Guarantors, voting as a single class have delivered (and not revoked) valid Consents to the Amendments in accordance with Section 9.02 of the Indenture;

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WHEREAS, the Issuer has heretofore delivered or is delivering contemporaneously herewith to the Trustee (i) copies of resolutions of the Boards of Directors (or equivalent governing bodies or persons) of the Issuer and the Guarantors authorizing the execution of this Supplemental Indenture, (ii) evidence of the Consents described in the immediately preceding paragraph, and (iii) the Officer’s Certificate and Opinion of Counsel described in Sections 9.06 and 13.04 of the Indenture;

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WHEREAS, the Indenture provides that under certain circumstances the Guaranteeing Subsidiary shall execute and deliver to the Trustee a supplemental indenture pursuant to which the Guaranteeing Subsidiary shall unconditionally guarantee all of the Company’s Obligations under the Notes and the Indenture on the terms and conditions set forth herein (the “Note Guarantee”);

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WHEREAS, the Issuer has requested that the Trustee execute and deliver this Supplemental Indenture; and

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WHEREAS, all other acts and proceedings required by law and the Indenture necessary to authorize the

execution and delivery of this Supplemental Indenture and to make this Supplemental Indenture a valid and binding

agreement for the purposes expressed herein, in accordance with its terms, have been complied with or have been duly done or performed.

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NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto mutually covenant and agree for the benefit of each other and the equal and ratable benefit of the Holders of the Notes as follows:

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“New Notes” means the up to $100.0 million of additional Notes incurred by the Company.”

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“Credit Agreement” means that certain Credit Agreement, dated as of March 31, 2021, by and among the Company, the Guarantors, Capital One, National Association as administrative agent, and the lenders party thereto from time to time, providing for up to $40,000,000 of revolving credit borrowings, including any related notes, Guarantees, collateral documents, instruments and agreements executed in connection therewith, and, in each case, as amended, restated, modified, renewed, refunded, replaced in any manner (whether upon or after termination or otherwise) or refinanced (including by means of sales of debt securities to institutional investors) in whole or in part from time to time.”

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“(32)Liens on Collateral securing the New Notes.”

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“(xxii)the incurrence by the Company and the Restricted Subsidiaries of the New Notes;”.

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“(ii)the incurrence by the Company and its Restricted Subsidiaries of Indebtedness and reimbursement obligations with respect to letters of credit under Credit Facilities in an aggregate principal amount at any one time outstanding under this clause (2) (with letters of credit being deemed to have a principal amount equal to the maximum potential liability of the Company and its Restricted Subsidiaries thereunder), including all Permitted Refinancing Indebtedness incurred to renew, refund, refinance, replace, defease or discharge any Indebtedness incurred pursuant to this clause (2), not to exceed $40.0 million; provided further that the Indebtedness under this clause (ii) may be designated as Parity Lien Debt or Priority Lien Debt.”

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“(xxi)the incurrence by the Company or any of its Restricted Subsidiaries of additional Indebtedness in an aggregate principal amount (or accreted value, as applicable) at any time outstanding under this clause (xxi), including all Permitted

Refinancing Indebtedness incurred to renew, refund, refinance, replace, defease or discharge any Indebtedness incurred pursuant to this clause (xxi), not to exceed $40 million; provided that Indebtedness under this clause (xxi) may be designated Parity Lien Debt (but not Priority Lien Debt).”

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[Signature pages follow]

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IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed and attested, all as of the date first above written.

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