Full House Resorts, Inc. Quarterly report [Sections 13 or 15(d)]

SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2025


(In thousands)	Three Months Ended September 30, 2025
					Contracted
					Sports
	Midwest & South		West		Wagering		Total
Revenues
Casino	$	46,667	$	13,156	$	—	$	59,823
Food and beverage		8,248		1,702		—		9,950
Hotel		1,777		2,688		—		4,465
Other operations, including contracted sports wagering		1,633		447		1,632		3,712
Total consolidated revenues		58,325		17,993		1,632		77,950

Less:
Payroll and related costs		15,622		5,874		—		21,496
Cost of sales		4,460		827		—		5,287
Gaming taxes and other⁽¹⁾		10,782		766		13		11,561
Other segment items⁽²⁾		15,909		7,317		77		23,303
Total segment expenses		46,773		14,784		90		61,647

Adjusted Segment EBITDA		11,552		3,209		1,542		16,303
Other operating costs and expenses:
Depreciation and amortization								(10,641)
Corporate expenses								(1,491)
Project development costs								(57)
Loss on sale of Stockman’s								(4)
Stock-based compensation								(674)
Operating income								3,436
Other expense:
Interest expense, net								(11,128)
Loss before income taxes								(7,692)
Income tax benefit								(14)
Net loss							$	(7,678)

__________

(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)	Three Months Ended September 30, 2024
					Contracted
					Sports
	Midwest & South		West		Wagering		Total
Revenues
Casino	$	41,855	$	14,261	$	—	$	56,116
Food and beverage		8,866		2,234		—		11,100
Hotel		2,136		2,557		—		4,693
Other operations, including contracted sports wagering		1,653		335		1,790		3,778
Total consolidated revenues		54,510		19,387		1,790		75,687

Less:
Payroll and related costs		15,205		6,767		—		21,972
Cost of sales		4,811		1,130		—		5,941
Gaming taxes and other⁽¹⁾		9,358		2,218		19		11,595
Other segment items⁽²⁾		14,887		8,074		(266)		22,695
Total segment expenses		44,261		18,189		(247)		62,203

Adjusted Segment EBITDA		10,249		1,198		2,037		13,484
Other operating costs and expenses:
Depreciation and amortization								(10,493)
Corporate expenses								(1,742)
Project development costs								(52)
Preopening costs								(42)
Gain on sale of Stockman’s								2,000
Stock-based compensation								(706)
Operating income								2,449
Other expense:
Interest expense, net								(11,047)
Loss before income taxes								(8,598)
Income tax benefit								(126)
Net loss							$	(8,472)

__________

(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)	Nine Months Ended September 30, 2025
					Contracted
					Sports
	Midwest & South		West		Wagering		Total
Revenues
Casino	$	136,865	$	35,241	$	—	$	172,106
Food and beverage		24,562		5,029		—		29,591
Hotel		5,325		6,702		—		12,027
Other operations, including contracted sports wagering		6,548		1,111		5,571		13,230
Total consolidated revenues		173,300		48,083		5,571		226,954

Less:
Payroll and related costs		46,337		18,993		—		65,330
Cost of sales		12,568		2,457		—		15,025
Gaming taxes and other⁽¹⁾		31,298		4,033		38		35,369
Other segment items⁽²⁾		45,683		22,995		200		68,878
Total segment expenses		135,886		48,478		238		184,602

Adjusted Segment EBITDA		37,414		(395)		5,333		42,352
Other operating costs and expenses:
Depreciation and amortization								(31,836)
Corporate expenses								(4,919)
Project development costs								(231)
Loss on disposal of assets								(6)
Loss on sale of Stockman’s, net								(209)
Stock-based compensation, net								(1,051)
Operating income								4,100
Other expenses:
Interest expense, net								(31,779)
Other								(50)
								(31,829)
Loss before income taxes								(27,729)
Income tax provision								97
Net loss							$	(27,826)

__________

(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)	Nine Months Ended September 30, 2024
					Contracted
					Sports
	Midwest & South		West		Wagering		Total
Revenues
Casino	$	125,815	$	36,659	$	—	$	162,474
Food and beverage		26,059		5,213		—		31,272
Hotel		6,269		5,018		—		11,287
Other operations, including contracted sports wagering		6,456		681		6,933		14,070
Total consolidated revenues		164,599		47,571		6,933		219,103

Less:
Payroll and related costs		43,560		18,564		—		62,124
Cost of sales		14,082		2,817		—		16,899
Gaming taxes and other⁽¹⁾		28,361		4,124		45		32,530
Other segment items⁽²⁾		43,390		20,138		339		63,867
Total segment expenses		129,393		45,643		384		175,420

Adjusted Segment EBITDA		35,206		1,928		6,549		43,683
Other operating costs and expenses:
Depreciation and amortization								(31,444)
Corporate expenses								(5,391)
Project development costs								(55)
Preopening costs								(2,462)
Loss on disposal of assets								(18)
Gain on sale of Stockman’s								2,000
Stock-based compensation								(2,155)
Operating income								4,158
Other expense:
Interest expense, net								(32,320)
Loss before income taxes								(28,162)
Income tax provision								211
Net loss							$	(28,373)

__________

(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.