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Basis of Presentation
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6 Months Ended | |||
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Jun. 30, 2011
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| Basis of Presentation [Abstract] | ||||
| BASIS OF PRESENTATION |
The interim consolidated financial statements of Full House Resorts, Inc. and subsidiaries
(collectively, “FHR” or the “Company”) included herein reflect all adjustments (consisting
of normal recurring adjustments) that are, in the opinion of management, necessary to
present fairly the financial position and results of operations for the interim periods
presented. Certain information normally included in annual financial statements prepared in
accordance with accounting principles generally accepted in the United States of America has
been omitted pursuant to the interim financial information rules and regulations of the
United States Securities and Exchange Commission.
These unaudited interim consolidated financial statements should be read in conjunction with
the annual audited consolidated financial statements and notes thereto included in the
Company’s Annual Report on Form 10-K filed March 7, 2011, for the year ended December 31,
2010, from which the balance sheet information as of that date was derived. Certain minor
reclassifications to amounts previously reported have been made to conform to the current
period presentation, none of which affected previously reported net income or earnings per
share attributable to the Company. The results of operations for the period ended June 30,
2011, are not necessarily indicative of results to be expected for the year ending December
31, 2011.
The consolidated financial statements include the accounts of the Company and its
wholly-owned subsidiaries, including Gaming Entertainment (Indiana) LLC (“Grand Victoria”)
and Stockman’s Casino (“Stockman’s”). Gaming Entertainment (Michigan), LLC (“GEM”), a
50%-owned investee of the Company that is jointly owned by RAM Entertainment, LLC (“RAM”),
has been consolidated pursuant to the relevant portions of Financial Accounting Standards
Board (“FASB”) Accounting Standards Codification™ (“ASC”) Topic 810, “Consolidation.” The
Company accounts for its investment in Gaming Entertainment (Delaware), LLC (“GED”) (Note 3)
using the equity method of accounting. All material intercompany accounts and transactions
have been eliminated.
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