$FLL

FULL HOUSE RESORTS INC

CIK:0000891482|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues
Net revenues	$ 78,064	$ 73,946	$ 152,485	$ 149,004
Operating costs and expenses
Selling, general and administrative	27,662	27,874	52,768	54,815
Project development costs	4	33	59	174
Depreciation and amortization	10,431	10,588	20,991	21,195
Loss on disposal of assets			0	6
(Gain) loss on sale of Stockman's, net of impairment		(7)	0	205
Total operating costs and expenses	75,794	74,020	147,865	148,340
Operating income (loss)	2,270	(74)	4,620	664
Other expenses
Interest expense, net	(10,843)	(10,354)	(21,223)	(20,651)
Other		(50)		(50)
Other expenses	(10,843)	(10,404)	(21,223)	(20,701)
Loss before income taxes	(8,573)	(10,478)	(16,603)	(20,037)
Income tax provision (benefit)	121	(95)	241	111
Net loss	$ (8,694)	$ (10,383)	$ (16,844)	$ (20,148)
Basic loss per share (in dollars per share)	$ (0.24)	$ (0.29)	$ (0.46)	$ (0.56)
Diluted loss per share (in dollars per share)	$ (0.24)	$ (0.29)	$ (0.46)	$ (0.56)
Casino
Revenues
Net revenues	$ 60,290	$ 56,983	$ 115,997	$ 112,283
Operating costs and expenses
Costs and expenses	24,354	22,877	48,367	45,762
Food and beverage
Revenues
Net revenues	10,056	9,580	19,657	19,641
Operating costs and expenses
Costs and expenses	10,155	9,508	19,691	19,827
Hotel
Revenues
Net revenues	4,154	3,720	7,940	7,562
Operating costs and expenses
Costs and expenses	2,152	2,183	4,141	4,546
Other operations, including contracted sports wagering
Revenues
Net revenues	3,564	3,663	8,891	9,518
Operating costs and expenses
Costs and expenses	$ 1,036	$ 964	$ 1,848	$ 1,810

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (16,844)	$ (20,148)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	20,991	21,195
Amortization of debt issuance costs, discounts and premiums	1,495	1,475
Non-cash change in right-of-use ("ROU") operating lease assets	1,101	1,314
Non-cash amortization of prepaid insurance	3,744	3,951
Stock-based compensation, net	807	377
Loss on disposal of assets	0	6
Loss on sale of Stockman's, net	0	205
Provision for credit losses	17	33
Deferred income taxes	241	111
Other	0	50
Increases and decreases in operating assets and liabilities:
Accounts receivable	(127)	513
Prepaid expenses, inventories and other	(9,414)	(9,231)
Operating lease liabilities	(1,001)	(906)
Contract liabilities	(2,916)	(3,837)
Accounts payable and other liabilities	528	(970)
Net cash used in operating activities	(1,378)	(5,862)
Cash flows from investing activities:
Capital expenditures, net of changes in payables	(4,055)	(6,214)
Proceeds from sale of Stockman's	0	2,412
Net cash used in investing activities	(4,055)	(3,802)
Cash flows from financing activities:
Payment of debt issuance costs and extension fees	(139)	(139)
Borrowings under revolving credit facility	5,000	6,500
Repayment of revolving credit facility borrowings	(10,000)	(8,500)
Proceeds from insurance financing	7,923	8,218
Repayments of insurance financing	(3,744)	(3,951)
Repayment of finance lease obligations	(887)	(903)
Proceeds from exercise of stock options	252	485
Tax withholding on vesting and exercise of equity awards	(84)	0
Repayment of note payable for asset acquisition	(150)	(136)
Net cash (used in) provided by financing activities	(1,829)	1,574
Net decrease in cash and cash equivalents	(7,262)	(8,090)
Cash and cash equivalents, beginning of period	40,670	40,221
Cash and cash equivalents, end of period	33,408	32,131
Supplemental disclosure of cash flow information:
Cash paid for interest, net of amounts capitalized	19,583	19,377
Income tax refund received	408
Payables and accruals incurred for capital expenditures	94	1,206
Accrued liability related to asset acquisition	760	7,354
Right-of-use assets obtained in exchange for lease liabilities: Operating leases	$ 1,161
Right-of-use asset and liability remeasurements: Operating leases		$ (112)

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and equivalents	$ 33,408	$ 40,670
Accounts receivable, net	3,776	3,666
Inventories	2,200	1,976
Prepaid expenses and other	12,136	6,690
Total current assets	51,520	53,002
Property and equipment, net	394,005	412,456
Operating lease right-of-use assets, net	53,202	53,142
Finance lease right-of-use assets, net	1,500	2,101
Goodwill	19,477	19,477
Other intangible assets, net of accumulated amortization of $652 and $582	109,606	108,915
Deposits and other	794	716
Total Assets	630,104	649,809
Current liabilities
Accounts payable	7,024	8,074
Capital expenditures payable	389	2,574
Accrued payroll and related	7,236	7,016
Accrued interest	14,547	14,265
Other accrued liabilities	48,239	35,990
Current portion of operating lease obligations	3,780	3,819
Current portion of finance lease obligations	1,875	1,802
Total current liabilities	83,090	73,540
Operating lease obligations, net of current portion	50,691	50,492
Finance lease obligations, net of current portion	578	1,538
Other long-term liabilities, net of current portion	32,922	41,376
Long-term debt, net	469,671	473,646
Deferred income taxes, net	2,717	2,476
Contract liabilities, net of current portion	3,766	4,203
Total liabilities	643,435	647,271
Commitments and contingencies (Note 8)
Stockholders' equity
Common stock, $0.0001 par value, 100,000,000 shares authorized; 36,634,410 and 36,130,876 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	4	4
Additional paid-in capital	118,994	118,019
Accumulated deficit	(132,329)	(115,485)
Total stockholders' equity	(13,331)	2,538
Total liabilities and stockholders' equity	$ 630,104	$ 649,809