Full House Resorts, Inc. Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING AND DISAGGREGATED REVENUE (Tables)

6 Months Ended

Jun. 30, 2022

The following tables present the Company’s segment information:


(In thousands)	Three Months Ended June 30, 2022
									Contracted
									Sports
	Mississippi		Indiana		Colorado		Nevada		Wagering		Total
Revenues
Casino	$	14,082	$	7,115	$	3,491	$	4,800	$	—	$	29,488
Food and beverage		5,252		984		428		269		—		6,933
Hotel		1,288		974		145		—		—		2,407
Other operations, including contracted sports wagering		517		2,724		48		97		2,169		5,555
	$	21,139	$	11,797	$	4,112	$	5,166	$	2,169	$	44,383

Adjusted Segment EBITDA	$	5,255	$	3,894	$	236	$	1,448	$	2,196	$	13,029
Other operating costs and expenses:
Depreciation and amortization												(1,834)
Corporate expenses												(943)
Project development costs												(17)
Preopening costs												(1,534)
Gain on disposal of assets, net												5
Stock-based compensation												(487)
Operating income												8,219
Other expenses:
Interest expense, net												(6,988)
Loss on modification of debt												(19)
												(7,007)
Income before income taxes												1,212
Income tax provision												5,567
Net loss											$	(4,355)


(In thousands)	Three Months Ended June 30, 2021
									Contracted
									Sports
	Mississippi		Indiana		Colorado		Nevada		Wagering		Total
Revenues
Casino	$	16,872	$	7,886	$	5,575	$	4,314	$	—	$	34,647
Food and beverage		5,561		939		624		316		—		7,440
Hotel		1,268		1,131		111		—		—		2,510
Other operations, including contracted sports wagering		538		621		72		85		1,529		2,845
	$	24,239	$	10,577	$	6,382	$	4,715	$	1,529	$	47,442

Adjusted Segment EBITDA	$	8,983	$	2,666	$	1,839	$	1,412	$	1,500	$	16,400
Other operating costs and expenses:
Depreciation and amortization												(1,829)
Corporate expenses												(1,472)
Project development costs												(126)
Loss on disposal of assets, net												(568)
Stock-based compensation												(199)
Operating income												12,206
Other (expense) income:
Interest expense, net												(6,670)
Gain on extinguishment of debt												30
												(6,640)
Income before income taxes												5,566
Income tax provision												82
Net income											$	5,484


(In thousands)	Six Months Ended June 30, 2022
									Contracted
									Sports
	Mississippi		Indiana		Colorado		Nevada		Wagering		Total
Revenues
Casino	$	28,764	$	13,831	$	7,123	$	8,854	$	—	$	58,572
Food and beverage		10,191		1,857		848		548		—		13,444
Hotel		2,509		1,796		281		—		—		4,586
Other operations, including contracted sports wagering		986		2,948		95		175		5,000		9,204
	$	42,450	$	20,432	$	8,347	$	9,577	$	5,000	$	85,806

Adjusted Segment EBITDA	$	11,206	$	5,033	$	(86)	$	2,277	$	4,964	$	23,394
Other operating costs and expenses:
Depreciation and amortization												(3,626)
Corporate expenses												(2,911)
Project development costs												(182)
Preopening costs												(2,320)
Loss on disposal of assets, net												(3)
Stock-based compensation												(830)
Operating income												13,522
Other expenses:
Interest expense, net												(13,387)
Loss on modification of debt												(4,425)
												(17,812)
Loss before income taxes												(4,290)
Income tax benefit												(45)
Net loss											$	(4,245)


(In thousands)	Six Months Ended June 30, 2021
									Contracted
									Sports
	Mississippi		Indiana		Colorado		Nevada		Wagering		Total
Revenues
Casino	$	32,912	$	14,601	$	10,839	$	8,359	$	—	$	66,711
Food and beverage		10,255		1,686		1,037		563		—		13,541
Hotel		2,439		2,050		232		—		—		4,721
Other operations, including contracted sports wagering		990		830		178		161		2,518		4,677
	$	46,596	$	19,167	$	12,286	$	9,083	$	2,518	$	89,650

Adjusted Segment EBITDA	$	16,613	$	3,799	$	3,548	$	2,636	$	2,477	$	29,073
Other operating costs and expenses:
Depreciation and amortization												(3,629)
Corporate expenses												(3,376)
Project development costs												(173)
Loss on disposal of assets, net												(672)
Stock-based compensation												(323)
Operating income												20,900
Other expenses:
Interest expense, net												(11,126)
Loss on extinguishment of debt												(6,104)
Adjustment to fair value of warrants												(1,347)
												(18,577)
Income before income taxes												2,323
Income tax provision												284
Net income											$	2,039

__________

(1)Includes $24.6 million related to American Place in 2022, which is expected to open in the fourth quarter of 2022.