Full House Resorts (FLL) Registration Filing summary

Company overview and business model

• Operates and/or owns casino, hospitality, and entertainment facilities, including gambling, hotels, dining, golf, RV camping, sports betting, entertainment, and retail outlets.

• Currently operates seven casinos across the Midwest, South, and West, with recent openings of American Place (temporary facility) and Chamonix Casino Hotel.

• Benefits from seven permitted sports wagering “skins” in Colorado, Indiana, and Illinois.

• The industry is highly regulated, with significant compliance requirements for both the company and its shareholders.

Financial performance and metrics

• Experienced net losses in three of the past five fiscal years; accumulated deficit of $54.5 million as of June 30, 2024.

• Net loss of $24.9 million for the year ended December 31, 2023, and $19.9 million for the six months ended June 30, 2024.

• As of June 30, 2024, outstanding debt totals approximately $477 million, including $450 million in senior secured notes and $27 million under a revolving credit facility.

• Significant investments made in new properties, with American Place and Chamonix now open to the public.

Use of proceeds and capital allocation

• Net proceeds from securities sales intended for general corporate purposes, including working capital, acquisitions, development, business expansion, and debt refinancing or repayment.

• Specific allocation of proceeds will be detailed in the applicable prospectus supplement at the time of each offering.