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

SEGMENT REPORTING AND DISAGGREGATED REVENUE (Tables)

9 Months Ended

Sep. 30, 2022

The following tables present the Company’s segment information:


(In thousands)	Three Months Ended September 30, 2022
									Contracted
									Sports
	Mississippi		Indiana		Colorado		Nevada		Wagering		Total
Revenues
Casino	$	13,167	$	6,986	$	3,613	$	5,955	$	—	$	29,721
Food and beverage		5,042		1,036		497		236		—		6,811
Hotel		1,292		975		223		—		—		2,490
Other operations, including contracted sports wagering		480		642		52		99		1,098		2,371
	$	19,981	$	9,639	$	4,385	$	6,290	$	1,098	$	41,393

Adjusted Segment EBITDA	$	4,235	$	1,343	$	36	$	2,280	$	1,083	$	8,977
Other operating costs and expenses:
Depreciation and amortization												(2,386)
Corporate expenses												(1,219)
Project development costs												149
Preopening costs												(2,594)
Stock-based compensation												(532)
Operating income												2,395
Other expenses:
Interest expense, net												(5,838)
Loss on modification of debt												(105)
												(5,943)
Loss before income taxes												(3,548)
Income tax provision												29
Net loss											$	(3,577)


(In thousands)	Three Months Ended September 30, 2021
									Contracted
									Sports
	Mississippi		Indiana		Colorado		Nevada		Wagering		Total
Revenues
Casino	$	14,578	$	7,906	$	5,288	$	4,734	$	—	$	32,506
Food and beverage		5,156		891		740		305		—		7,092
Hotel		1,248		990		231		—		—		2,469
Other operations, including contracted sports wagering		556		2,799		81		93		1,642		5,171
	$	21,538	$	12,586	$	6,340	$	5,132	$	1,642	$	47,238

Adjusted Segment EBITDA	$	6,485	$	3,816	$	1,543	$	1,537	$	1,645	$	15,026
Other operating costs and expenses:
Depreciation and amortization												(1,819)
Corporate expenses												(1,427)
Project development costs												(318)
Preopening costs												(17)
Loss on disposal of assets, net												(2)
Stock-based compensation												(324)
Operating income												11,119
Other expense:
Interest expense, net												(6,405)
Income before income taxes												4,714
Income tax provision												95
Net income											$	4,619


(In thousands)	Nine Months Ended September 30, 2022
									Contracted
									Sports
	Mississippi		Indiana		Colorado		Nevada		Wagering		Total
Revenues
Casino	$	41,930	$	20,817	$	10,736	$	14,810	$	—	$	88,293
Food and beverage		15,233		2,893		1,345		784		—		20,255
Hotel		3,802		2,771		503		—		—		7,076
Other operations, including contracted sports wagering		1,467		3,588		148		274		6,098		11,575
	$	62,432	$	30,069	$	12,732	$	15,868	$	6,098	$	127,199

Adjusted Segment EBITDA	$	15,442	$	6,374	$	(49)	$	4,557	$	6,047	$	32,371
Other operating costs and expenses:
Depreciation and amortization												(6,012)
Corporate expenses												(4,130)
Project development costs, net												(33)
Preopening costs												(4,914)
Loss on disposal of assets, net												(3)
Stock-based compensation												(1,362)
Operating income												15,917
Other expenses:
Interest expense, net												(19,225)
Loss on modification of debt												(4,530)
												(23,755)
Loss before income taxes												(7,838)
Income tax benefit												(16)
Net loss											$	(7,822)


(In thousands)	Nine Months Ended September 30, 2021
									Contracted
									Sports
	Mississippi		Indiana		Colorado		Nevada		Wagering		Total
Revenues
Casino	$	47,489	$	22,507	$	16,127	$	13,094	$	—	$	99,217
Food and beverage		15,411		2,577		1,777		868		—		20,633
Hotel		3,687		3,040		463		—		—		7,190
Other operations, including contracted sports wagering		1,546		3,629		259		254		4,160		9,848
	$	68,133	$	31,753	$	18,626	$	14,216	$	4,160	$	136,888

Adjusted Segment EBITDA	$	23,097	$	7,615	$	5,092	$	4,173	$	4,122	$	44,099
Other operating costs and expenses:
Depreciation and amortization												(5,448)
Corporate expenses												(4,803)
Project development costs												(491)
Preopening costs												(17)
Loss on disposal of assets, net												(674)
Stock-based compensation												(647)
Operating income												32,019
Other expenses:
Interest expense, net												(17,531)
Loss on extinguishment of debt												(6,104)
Adjustment to fair value of warrants												(1,347)
												(24,982)
Income before income taxes												7,037
Income tax provision												379
Net income											$	6,658

__________

(1)Includes $44.8 million related to American Place in 2022, which is expected to open within the next three months.