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

SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 2025


(In thousands)	Three Months Ended June 30, 2025
					Contracted
					Sports
	Midwest & South		West		Wagering		Total
Revenues
Casino	$	46,155	$	10,828	$	—	$	56,983
Food and beverage		8,143		1,437		—		9,580
Hotel		1,847		1,873		—		3,720
Other operations, including contracted sports wagering		1,657		347		1,659		3,663
Total consolidated revenues		57,802		14,485		1,659		73,946

Less:
Payroll and related costs		15,434		6,122		—		21,556
Cost of sales		4,135		674		—		4,809
Taxes⁽¹⁾		10,535		1,502		13		12,050
Other segment items⁽²⁾		14,941		7,325		35		22,301
Total segment expenses		45,045		15,623		48		60,716

Adjusted Segment EBITDA		12,757		(1,138)		1,611		13,230
Other operating costs and expenses:
Depreciation and amortization								(10,588)
Corporate expenses								(2,096)
Project development costs								(33)
Gain on sale of Stockman’s								7
Stock-based compensation								(594)
Operating loss								(74)
Other expenses:
Interest expense, net								(10,354)
Other								(50)
								(10,404)
Loss before income taxes								(10,478)
Income tax benefit								(95)
Net loss							$	(10,383)

__________

(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 June 30, 2024
					Contracted
					Sports
	Midwest & South		West		Wagering		Total
Revenues
Casino	$	43,051	$	11,634	$	—	$	54,685
Food and beverage		8,683		1,720		—		10,403
Hotel		2,126		1,616		—		3,742
Other operations, including contracted sports wagering		1,598		181		2,883		4,662
Total consolidated revenues		55,458		15,151		2,883		73,492

Less:
Payroll and related costs		14,225		6,153		—		20,378
Cost of sales		4,659		943		—		5,602
Taxes⁽¹⁾		9,799		663		13		10,475
Other segment items⁽²⁾		14,500		6,527		293		21,320
Total segment expenses		43,183		14,286		306		57,775

Adjusted Segment EBITDA		12,275		865		2,577		15,717
Other operating costs and expenses:
Depreciation and amortization								(10,326)
Corporate expenses								(1,576)
Project development costs								(3)
Preopening costs								(757)
Stock-based compensation								(740)
Operating income								2,315
Other expense:
Interest expense, net								(11,023)
Loss before income taxes								(8,708)
Income tax benefit								(79)
Net loss							$	(8,629)

__________

(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)	Six Months Ended June 30, 2025
					Contracted
					Sports
	Midwest & South		West		Wagering		Total
Revenues
Casino	$	90,199	$	22,084	$	—	$	112,283
Food and beverage		16,314		3,327		—		19,641
Hotel		3,548		4,014		—		7,562
Other operations, including contracted sports wagering		4,915		664		3,939		9,518
Total consolidated revenues		114,976		30,089		3,939		149,004

Less:
Payroll and related costs		30,714		13,119		—		43,833
Cost of sales		8,108		1,630		—		9,738
Taxes⁽¹⁾		20,517		3,267		25		23,809
Other segment items⁽²⁾		29,772		15,679		123		45,574
Total segment expenses		89,111		33,695		148		122,954

Adjusted Segment EBITDA		25,865		(3,606)		3,791		26,050
Other operating costs and expenses:
Depreciation and amortization								(21,195)
Corporate expenses								(3,429)
Project development costs								(174)
Loss on disposal of assets								(6)
Loss on sale of Stockman’s, net								(205)
Stock-based compensation, net								(377)
Operating income								664
Other expenses:
Interest expense, net								(20,651)
Other								(50)
								(20,701)
Loss before income taxes								(20,037)
Income tax provision								111
Net loss							$	(20,148)

__________

(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)	Six Months Ended June 30, 2024
					Contracted
					Sports
	Midwest & South		West		Wagering		Total
Revenues
Casino	$	83,960	$	22,398	$	—	$	106,358
Food and beverage		17,193		2,979		—		20,172
Hotel		4,132		2,462		—		6,594
Other operations, including contracted sports wagering		4,803		346		5,143		10,292
Total consolidated revenues		110,088		28,185		5,143		143,416

Less:
Payroll and related costs		28,354		11,797		—		40,151
Cost of sales		9,271		1,687		—		10,958
Taxes⁽¹⁾		19,003		1,906		26		20,935
Other segment items⁽²⁾		28,502		12,064		605		41,171
Total segment expenses		85,130		27,454		631		113,215

Adjusted Segment EBITDA		24,958		731		4,512		30,201
Other operating costs and expenses:
Depreciation and amortization								(20,951)
Corporate expenses								(3,651)
Project development costs								(3)
Preopening costs								(2,420)
Loss on disposal of assets								(18)
Stock-based compensation								(1,449)
Operating income								1,709
Other expense:
Interest expense, net								(21,273)
Loss before income taxes								(19,564)
Income tax provision								337
Net loss							$	(19,901)

__________

(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.