Full House Resorts, Inc. Quarterly report [Sections 13 or 15(d)]

SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2025


(In thousands)	Three Months Ended March 31, 2025
					Contracted
					Sports
	Midwest & South		West		Wagering		Total
Revenues
Casino	$	44,044	$	11,256	$	—	$	55,300
Food and beverage		8,171		1,890		—		10,061
Hotel		1,700		2,142		—		3,842
Other operations, including contracted sports wagering		3,257		318		2,280		5,855
Total consolidated revenues		57,172		15,606		2,280		75,058

Less:
Payroll and related costs		15,280		6,997		—		22,277
Cost of sales		3,972		956		—		4,928
Taxes⁽¹⁾		9,982		1,764		13		11,759
Other segment items⁽²⁾		14,831		8,356		87		23,274
Total segment expenses		44,065		18,073		100		62,238

Adjusted Segment EBITDA		13,107		(2,467)		2,180		12,820
Other operating costs and expenses:
Depreciation and amortization								(10,607)
Corporate expenses								(1,333)
Project development costs								(141)
Loss on disposal of assets								(6)
Impairment of assets held for sale at Stockman’s								(212)
Stock-based compensation, net								217
Operating income								738
Other expense:
Interest expense, net								(10,297)
								(10,297)
Loss before income taxes								(9,559)
Income tax provision								206
Net loss							$	(9,765)

__________

(1)	Excludes real estate and property taxes.

(2)	For each reportable segment, the “Other segment items” category includes:

●

Midwest & South and West ─ Advertising and marketing, rent expense, insurance, and other miscellaneous costs.

●

Contracted Sports Wagering ─ Credit loss expense net of recoveries, as well as certain overhead expenses.


(In thousands)	Three Months Ended March 31, 2024
					Contracted
					Sports
	Midwest & South		West		Wagering		Total
Revenues
Casino	$	40,909	$	10,764	$	—	$	51,673
Food and beverage		8,510		1,259		—		9,769
Hotel		2,008		844		—		2,852
Other operations, including contracted sports wagering		3,205		165		2,260		5,630
Total consolidated revenues		54,632		13,032		2,260		69,924

Less:
Payroll and related costs		14,129		5,644		—		19,773
Cost of sales		4,612		745		—		5,357
Taxes⁽¹⁾		9,204		1,243		13		10,460
Other segment items⁽²⁾		14,005		5,533		312		19,850
Total segment expenses		41,950		13,165		325		55,440

Adjusted Segment EBITDA		12,682		(133)		1,935		14,484
Other operating costs and expenses:
Depreciation and amortization								(10,625)
Corporate expenses								(2,075)
Preopening costs								(1,663)
Loss on disposal of assets								(18)
Stock-based compensation								(709)
Operating loss								(606)
Other expense:
Interest expense, net								(10,250)
								(10,250)
Loss before income taxes								(10,856)
Income tax provision								416
Net loss							$	(11,272)

__________

(1)	Excludes real estate and property taxes.

(2)	For each reportable segment, the “Other segment items” category includes:

●

Midwest & South and West ─ Advertising and marketing, rent expense, insurance, and other miscellaneous costs.

●

Contracted Sports Wagering ─ Credit loss expense net of recoveries, as well as certain overhead expenses.