LAS VEGAS, May 13, 2025 (GLOBE NEWSWIRE) -- Full House Resorts, Inc. (Nasdaq: FLL) (the “Company”) today announced that it has named Joshua Le Duff as its Senior Vice President and Chief Marketing Officer, subject to customary gaming approvals. Mr. Le Duff has extensive marketing experience in the casino industry, including in regional casino gaming markets. Most recently, he served as Vice President of Marketing at Pala Casino Spa Golf Resort, a AAA Four Diamond property and one of Southern California’s to ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 1-32583 FULL HOUSE RESORTS, INC. (Exact name of registrant as specified in its charter) Delaware (State or other juri ...

Full House Resorts (FLL) Q1 2025 Earnings Call May 08, 2025 04:30 PM ET Speaker0 Afternoon, ladies and gentlemen, and welcome to the Full House Resorts First Quarter twenty twenty five Earnings Call. At this time, all lines are in listen only mode. Following the presentation, we will conduct a question and answer session. This call is being recorded on Thursday, 05/08/2025. I would now like to turn the conference over to Adam Campbell. Please go ahead. Speaker1 Thank you. Good afternoon. Welcome to our firs ...

Exhibit 99.1 FULL HOUSE RESORTS ANNOUNCES FIRST QUARTER RESULTS - Revenues Increased 7.3% in the First Quarter of 2025 - American Place Casino Achieved a New Property Record in March 2025, Reaching $10.9 Million of Monthly Gaming Revenue - Revenues from Our Colorado Operations Increased 33.9% in the First Quarter of 2025 - Silver Slipper Benefited from New Leadership and Operational Improvements Las Vegas – May 8, 2025 – Full House Resorts, Inc. (Nasdaq: FLL) today announced results for the first quarter en ...

- Revenues Increased 7.3% in the First Quarter of 2025 - American Place Casino Achieved a New Property Record in March 2025, Reaching $10.9 Million of Monthly Gaming Revenue - Revenues from Our Colorado Operations Increased 33.9% in the First Quarter of 2025 - Silver Slipper Benefited from New Leadership and Operational Improvements LAS VEGAS, May 08, 2025 (GLOBE NEWSWIRE) -- Full House Resorts, Inc. (Nasdaq: FLL) today announced results for the first quarter ended March 31, 2025. On a consolidated basis, ...

Core Viewpoint - Full House Resorts will report its first quarter 2025 financial results on May 8, 2025, followed by a conference call for investors [1] Group 1: Financial Reporting - The financial results will be announced on May 8, 2025, at 4:30 p.m. ET [1] - A live audio webcast of the conference call will be available on the company's website [1] - Investors can also join the conference call by dialing (646) 307-1865 [1] Group 2: Conference Call Replay - A replay of the conference call will be accessible shortly after the call until May 22, 2025 [2] - The replay can be accessed via the company's website or by dialing (412) 317-6671 with the passcode 1125724 [2] Group 3: Company Overview - Full House Resorts owns, leases, develops, and operates gaming facilities across the United States [4] - The company's properties include locations in Illinois, Mississippi, Colorado, Indiana, and Nevada [4]

Group 1 - Full House Resorts (NASDAQ: FLL) is perceived as a particularly risky investment within the regional gaming sector due to macroeconomic uncertainties affecting investor sentiment [1] - The overall gaming industry is facing caution from investors regarding its near-term prospects, influenced by broader economic conditions [1]

Core Insights - Full House Resorts, Inc. has appointed Brandon Lenssen as Vice President and General Manager of Chamonix Casino Hotel in Cripple Creek, Colorado, pending customary gaming approvals [1] - Mr. Lenssen has nearly 30 years of experience in the gaming industry, previously serving as Vice President and General Manager for Quick Custom Intelligence and Bally's Black Hawk [2][3] - The company aims to enhance the guest experience and operational efficiency at Chamonix Casino Hotel through data-driven strategies and innovative solutions [4] Company Overview - Full House Resorts owns, leases, develops, and operates gaming facilities across the United States, including properties in Illinois, Mississippi, Colorado, Indiana, and Nevada [6] - The company is focused on improving game performance, marketing, and player engagement through strategic leadership and operational expertise [2][4] Compensation Details - In connection with Mr. Lenssen's hiring, the Compensation Committee approved a grant of 24,213 restricted shares as an inducement equity award, which will vest over three years [4]

Competition and Market Risks - The company faces significant competition in the gaming and entertainment sector, which could impact revenue if consumer spending declines[14]. - The company is subject to various risks including economic downturns, natural disasters, and regulatory changes that could adversely affect operations and financial condition[14]. - The company relies on key personnel and faces challenges in attracting and retaining employees, which could impact operational efficiency[14]. Financial Performance - The company's total revenues for the year ended December 31, 2024, were $292.065 million, an increase of 21.2% compared to $241.060 million in 2023[281]. - Casino revenues increased to $216.880 million in 2024, up 22.6% from $176.933 million in 2023[281]. - The net loss for the year ended December 31, 2024, was $40.672 million, compared to a net loss of $24.904 million in 2023, reflecting a 63.3% increase in losses[281]. - Basic loss per share for 2024 was $1.16, compared to $0.72 in 2023, indicating a significant increase in loss per share[281]. - The company reported operating income of $2.750 million for 2024, a turnaround from an operating loss of $1.162 million in 2023[281]. - Total operating costs and expenses increased to $289.315 million in 2024, up from $242.222 million in 2023, reflecting a rise of 19.5%[281]. - Cash flows from operating activities provided $13,845,000 in 2024, down from $22,345,000 in 2023, indicating a decline of 38.3%[286]. - The company reported a net decrease in cash and cash equivalents of $33,573,000 for the year, compared to a decrease of $117,382,000 in 2023, showing a reduction in cash outflow[286]. Debt and Financial Obligations - The company has significant indebtedness, which could limit financial flexibility and affect its ability to meet obligations[17]. - The company’s long-term debt as of December 31, 2024, was $468.139 million, slightly up from $465.153 million in 2023[283]. - Interest expense for the year ended December 31, 2024, was $43,201,000, up from $22,977,000 in 2023, indicating an increase of approximately 88%[381]. - The Company issued a total of $450,000,000 in Senior Secured Notes due 2028, with an interest rate of 8.25%[367]. Operational Challenges - Rising operating costs and wage increases may negatively affect the company's profitability[14]. - The company is engaged in construction and development projects, with potential risks of exceeding budgeted costs and regulatory delays[17]. - The company’s operations are heavily regulated, and compliance costs or failures could adversely impact business results[20]. Strategic Initiatives - The company plans to continue evaluating its strategic plans and forecasts in light of changing market conditions and regulatory environments[280]. - The company opened the temporary American Place facility in February 2023 and completed the phased opening of Chamonix in October 2024, expanding its operational footprint[291]. - The company entered into an agreement to sell Stockman's Casino in August 2024, indicating a strategic divestment[292]. Revenue Streams and Segments - The company’s revenue primarily consists of casino gaming, food and beverage, hotel, and other revenues, with casino gaming being the largest contributor[321]. - Adjusted Segment EBITDA for the Midwest & South segment was $45,737,000, while the West segment reported a loss of $1,302,000, leading to a total Adjusted Segment EBITDA of $53,938,000 for the Company[427]. - Other operations, including contracted sports wagering, contributed $20,719,000 to total revenues, reflecting growth in this area[430]. Asset Management - Total assets decreased from $688,457,000 in 2023 to $673,334,000 in 2024, with notable declines in the Midwest & South and West segments[426]. - The carrying value of goodwill decreased from $21,286,000 at the beginning of 2023 to $19,477,000 by December 31, 2024, primarily due to the sale of assets[354]. - Total assets held for sale amounted to $2,486,000 as of December 31, 2024, which includes cash, inventories, property, and goodwill[351]. Employee and Compensation - The Company’s matching contributions to the defined contribution plan were $300,000 for both 2024 and 2023, maintaining a 50% matching rate on employee contributions[412]. - Stock-based compensation expense totaled $2,873,000 for the year ended December 31, 2024, slightly down from $2,882,000 in 2023[419]. Tax and Deferred Assets - The Company had gross federal net operating loss carryforwards totaling $57.4 million and state tax carryforwards of $193.2 million as of December 31, 2024[402]. - The Company recognized a deferred tax asset valuation allowance of $35.634 million as of December 31, 2024, compared to $23.966 million in 2023, reflecting an increase of approximately 48.73%[402].

Financial Data and Key Metrics Changes - Fourth quarter revenues increased by 27%, with a total annual increase of 42% for the year, and EBITDA rose by 60% [6][8][19] - The company reported a market share of 26.9% in the fourth quarter, more than doubling its gaming market share year over year [112] Business Line Data and Key Metrics Changes - American Place continues to perform strongly, with revenues up 27% in Q4 and 42% for the year, while EBITDA increased by 60% [6][19] - Chamonix, despite being in its early stages, saw revenues more than double in the fourth quarter, although it experienced a slight loss due to high operating expenses [21][22] Market Data and Key Metrics Changes - The company is positioned in a favorable demographic area, with Lake County having a population of about one million and being one of the wealthier counties [57][70] - Comparisons with other casinos indicate that the company’s temporary casino is outperforming others in similar markets, suggesting strong future revenue potential [16][17] Company Strategy and Development Direction - The company plans to finance the construction of a permanent facility in Waukegan, estimated to cost around $325 million, without issuing equity [10][12] - Management is focused on improving operational efficiency and enhancing customer experience through strategic hires and management changes [27][33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the future performance of American Place, citing strong revenue potential and favorable market conditions [15][19] - The company is optimistic about the growth of Chamonix, expecting revenues to climb as the facility matures [22][68] Other Important Information - The company is not actively seeking acquisitions but remains open to opportunities that align with its strategic goals [94] - Management has made significant changes in leadership to enhance operational performance and address challenges in specific properties [28][33] Q&A Session Summary Question: How do challenges at Chamonix affect plans for American Place? - Management confirmed that plans for American Place remain unchanged, with a guaranteed minimum spend of $500 million already partially invested [52] Question: Are there changes in material prices due to tariffs for construction in Illinois? - Management acknowledged the potential for price changes but has not hedged against them, assuming higher costs in their budget [78][80] Question: Is the company looking for M&A opportunities? - Management clarified that they are not actively pursuing acquisitions but are open to good deals that may arise [94] Question: What are the expectations for table volumes and slot volumes at Chamonix? - Management noted that table games have been a weak point, but they are implementing changes to improve performance in that area [102][104] Question: Can you discuss the margins at American Place? - Management indicated that while margins are not at target levels yet, they expect gradual improvement as revenues grow and expenses are controlled [121]