Full House Resorts, Inc. Annual report [Section 13 and 15(d), not S-K Item 405]

SEGMENT REPORTING (Tables)

12 Months Ended

Dec. 31, 2025


(In thousands)	Year Ended December 31, 2025
					Contracted
					Sports
	Midwest & South		West		Wagering		Total
Revenues
Casino	$	183,834	$	46,426	$	—	$	230,260
Food and beverage		32,647		6,655		—		39,302
Hotel		7,054		8,969		—		16,023
Other operations, including contracted sports wagering		7,929		1,595		7,267		16,791
Total consolidated revenues		231,464		63,645		7,267		302,376

Less:
Payroll and related costs		61,489		24,415		—		85,904
Cost of sales		16,944		3,257		—		20,201
Gaming taxes and other⁽¹⁾		42,326		6,095		47		48,468
Other segment items⁽²⁾		61,589		32,307		264		94,160
Total segment expenses		182,348		66,074		311		248,733

Adjusted Segment EBITDA		49,116		(2,429)		6,956		53,643
Other operating costs and expenses:
Depreciation and amortization								(42,609)
Corporate expenses								(5,512)
Project development costs								(310)
Loss on disposal of assets								(32)
Loss on sale of Stockman’s, net								(320)
Stock-based compensation, net								(1,736)
Operating income								3,124
Other expenses:
Interest expense, net								(42,741)
Other								(50)
								(42,791)
Loss before income taxes								(39,667)
Income tax expense								530
Net loss							$	(40,197)

__________

(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)	Year Ended December 31, 2024
					Contracted
					Sports
	Midwest & South		West		Wagering		Total
Revenues
Casino	$	169,107	$	47,773	$	—	$	216,880
Food and beverage		34,410		7,461		—		41,871
Hotel		8,260		7,449		—		15,709
Other operations, including contracted sports wagering		7,849		965		8,791		17,605
Total consolidated revenues		219,626		63,648		8,791		292,065

Less:
Payroll and related costs		57,822		25,010		—		82,832
Cost of sales		18,403		4,278		—		22,681
Gaming taxes and other⁽¹⁾		37,810		6,090		57		43,957
Other segment items⁽²⁾		59,854		29,572		(769)		88,657
Total segment expenses		173,889		64,950		(712)		238,127

Adjusted Segment EBITDA		45,737		(1,302)		9,503		53,938
Other operating costs and expenses:
Depreciation and amortization								(42,101)
Corporate expenses								(5,290)
Project development costs								(368)
Preopening costs								(2,464)
Loss on disposal of assets								(18)
Gain on sale of Stockman’s								1,926
Stock-based compensation								(2,873)
Operating income								2,750
Other expense:
Interest expense, net								(43,201)
Loss before income taxes								(40,451)
Income tax expense								221
Net loss							$	(40,672)

__________

(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.