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

SEGMENT REPORTING (Tables)

12 Months Ended

Dec. 31, 2024

The following tables present the Company’s segment information:


(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
Taxes⁽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)
								(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.


(In thousands)	Year Ended December 31, 2023
					Contracted
					Sports
	Midwest & South		West		Wagering		Total
Revenues
Casino	$	145,391	$	31,542	$	—	$	176,933
Food and beverage		30,762		3,218		—		33,980
Hotel		8,792		636		—		9,428
Other operations, including contracted sports wagering		7,413		492		12,814		20,719
Total consolidated revenues		192,358		35,888		12,814		241,060

Less:
Payroll and related costs		49,936		16,055		—		65,991
Cost of sales		17,641		1,749		—		19,390
Taxes⁽¹⁾		29,255		3,660		48		32,963
Other segment items⁽²⁾		56,498		12,016		1,103		69,617
Total segment expenses		153,330		33,480		1,151		187,961

Adjusted Segment EBITDA		39,028		2,408		11,663		53,099
Other operating costs and expenses:
Depreciation and amortization								(31,092)
Corporate expenses								(4,542)
Project development costs								(53)
Preopening costs								(15,685)
Loss on disposal of assets								(7)
Stock-based compensation								(2,882)
Operating loss								(1,162)
Other (expense) income:
Interest expense, net								(22,977)
Other								384
								(22,593)
Loss before income taxes								(23,755)
Income tax expense								1,149
Net loss							$	(24,904)

__________

(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.