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

Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)

9 Months Ended

Sep. 30, 2015

Schedule of selected statement of operations data

The following tables reflect selected operating information for our reporting segments for the three and nine months ended September 30, 2015 and 2014 and include a reconciliation of Adjusted Property EBITDA to operating income (loss) and net income (loss):



For the three months ended September 30, 2015
(In thousands, unaudited)
	Casino/Resort Operations
	Northern Nevada		Rising Star Casino Resort			Silver Slipper Casino & Hotel		Development/ Management			Corporate			Consolidated
Revenues, net	$	6,809	$	12,563		$	14,894	$	—		$	—		$	34,266

Adjusted Property EBITDA	$	2,227	$	2,455		$	2,413	$	—		$	—		$	7,095

Other operating costs and expenses:
Depreciation and amortization	199		678			1,322		—			4			2,203
Preopening costs	—		—			21		—			—			21
Corporate expenses	—		—			—		—			844			844
Project development and acquisition costs	—		—			—		709			—			709
Stock compensation	—		—			—		—			57			57
Operating income (loss)	2,028		1,777			1,070		(709		)	(905		)	3,261
Non-operating expense:
Interest expense, net of amounts capitalized	—		40			4		—			1,785			1,829
Non-operating expense	—		40			4		—			1,785			1,829
Income (loss) before income taxes	2,028		1,737			1,066		(709		)	(2,690		)	1,432
Provision (benefit) for income taxes	—		(61		)	3		—			(545		)	(603		)
Net income (loss)	$	2,028	$	1,798		$	1,063	$	(709	)	$	(2,145	)	$	2,035



For the three months ended September 30, 2014
(In thousands, unaudited)
	Casino/Resort Operations
	Northern Nevada		Rising Star Casino Resort		Silver Slipper Casino & Hotel		Development/ Management		Corporate			Consolidated
Revenues, net	$	7,134	$	13,399	$	12,111	$	273	$	—		$	32,917

Adjusted Property EBITDA	$	2,463	$	1,650	$	1,736	$	273	$	—		$	6,122

Other operating costs and expenses:
Depreciation and amortization	209		766		1,419		—		4			2,398
Corporate expenses	—		—		—		—		936			936
Project development and acquisition costs	—		—		—		72		—			72
Stock compensation	—		—		—		—		59			59
Operating income (loss)	2,254		884		317		201		(999		)	2,657
Non-operating expense:
Interest expense, net of amounts capitalized	—		62		5		—		1,547			1,614
Settlement loss	—		—		—		—		1,700			1,700
Other	21		31		9		—		—			61
Non-operating expense	21		93		14		—		3,247			3,375
Income (loss) before income taxes	2,233		791		303		201		(4,246		)	(718		)
Provision (benefit) for income taxes	759		471		103		159		(1,444		)	48
Net income (loss)	$	1,474	$	320	$	200	$	42	$	(2,802	)	$	(766	)



For the nine months ended September 30, 2015
(In thousands, unaudited)
	Casino/Resort Operations
	Northern Nevada		Rising Star Casino Resort			Silver Slipper Casino & Hotel		Development/ Management			Corporate			Consolidated
Revenues, net	$	15,665	$	35,444		$	42,967	$	—		$	—		$	94,076

Adjusted Property EBITDA	$	3,269	$	3,251		$	7,774	$	—		$	—		$	14,294

Other operating costs and expenses:
Depreciation and amortization	593		2,039			3,582		—			11			6,225
Write-offs, recoveries and asset disposals	80		—			—		—			(446		)	(366		)
Preopening costs	—		—			134		—			—			134
Corporate expenses	—		—			—		—			2,964			2,964
Project development and acquisition costs	—		—			—		760			—			760
Stock compensation	—		—			—		—			285			285
Operating income (loss)	2,596		1,212			4,058		(760		)	(2,814		)	4,292
Non-operating expense (income):
Interest expense, net of amounts capitalized	—		124			13		—			4,739			4,876
Other	—		(11		)	—		—			(1		)	(12		)
Non-operating expense	—		113			13		—			4,738			4,864
Income (loss) before income taxes	2,596		1,099			4,045		(760		)	(7,552		)	(572		)
Provision (benefit) for income taxes	—		(61		)	8		—			(372		)	(425		)
Net income (loss)	$	2,596	$	1,160		$	4,037	$	(760	)	$	(7,180	)	$	(147	)



For the nine months ended September 30, 2014
(In thousands, unaudited)
	Casino/Resort Operations
	Northern Nevada		Rising Star Casino Resort			Silver Slipper Casino & Hotel		Development/ Management		Corporate			Consolidated
Revenues, net	$	16,543	$	40,188		$	36,879	$	1,066	$	—		$	94,676

Adjusted Property EBITDA	$	3,847	$	2,503		$	6,009	$	1,066	$	—		$	13,425

Other operating costs and expenses:
Depreciation and amortization	640		2,305			4,207		—		13			7,165
Impairment	—		11,547			—		—		—			11,547
Write-offs, recoveries and asset disposals	—		8			13		—		30			51
Corporate expenses	—		—			—		—		3,091			3,091
Project development and acquisition costs	—		—			—		407		—			407
Stock compensation	—		—			—		—		219			219
Operating income (loss)	3,207		(11,357		)	1,789		659		(3,353		)	(9,055		)
Non-operating expense:
Interest expense, net of amounts capitalized	—		157			7		—		4,538			4,702
Settlement loss	—		—			—		—		1,700			1,700
Other	20		31			17		—		—			68
Non-operating expense	20		188			24		—		6,238			6,470
Income (loss) before income taxes	3,187		(11,545		)	1,765		659		(9,591		)	(15,525		)
Provision (benefit) for income taxes	1,084		(3,821		)	600		212		(3,261		)	(5,186		)
Net income (loss)	$	2,103	$	(7,724	)	$	1,165	$	447	$	(6,330	)	$	(10,339	)

Selected balance sheet data as of September 30, 2015 and December 31, 2014 follows:



As of September 30, 2015
(In thousands, unaudited)
	Casino/Resort Operations
	Northern Nevada		Rising Star Casino Resort		Silver Slipper Casino & Hotel		Development/ Management		Corporate		Consolidated
Total assets	$	12,110	$	37,231	$	83,035	$	2,742	$	11,168	$	146,286
Property, equipment and capital lease, net	6,220		31,792		61,856		242		24		100,134
Goodwill	1,809		—		14,671		—		—		16,480
Liabilities	1,649		10,856		4,048		—		72,098		88,651



As of December 31, 2014
(In thousands)
	Casino/Resort Operations
	Northern Nevada		Rising Star Casino Resort		Silver Slipper Casino & Hotel		Development/ Management		Corporate		Consolidated
Total assets	$	12,471	$	39,101	$	76,898	$	—	$	12,474	$	140,944
Property, equipment and capital lease, net	6,656		33,801		54,548		—		35		95,040
Goodwill	1,809		—		14,671		—		—		16,480
Liabilities	1,970		11,543		4,182		—		65,752		83,447