Full House Resorts Announces Fourth Quarter and Full-Year Results

Las Vegas, March 05, 2024 (Globe Newswire) -Full House Resort (NASDAQ: FLL) announced today, the fourth quarter and year's achievements on December 31, 2023.

"The President and CEO of Full House Resorts, Daniel R Ree Lee said, said," We are in a new phase after several years. The first new casino, CHAMONIX, has opened the first anniversary of the opening of the American Place, as expected. In December 2023, the US Gaming Committee (Illinois Gaming Board) made a new record of $ 8. 2 million. Despite being a short month, the newl y-made record of the monthly sales has opened a gaming income from the facility, North Shore Steak & Seafood. It is expected that it will continue to grow in 2024 because it has been improving. The American Place is currently located in a temporary facility built in less than a year since the Illinois Gaming Board, which was now selected as the Illinois Gaming Board. The Company recently obtained the approval necessary to operate temporary facilities until August 2027, and was able to get a significant time before the opening of a permanent American Place facility.

"On December 27, we welcomed customers to the latest casino, Chamonie Casino Hotel in Clipple Creek, Colorado, about 2 hours from Colorado Springs and 2 hours from Denver. At first, casinos, conference rooms. In the last few weeks, we have been developing the remaining rooms and parking lots in the last few weeks. The famous chef, Barry Dakake, is designed to be the most beautiful casino in Colorado, the end of the 980 prime. I'm looking forward to completing all the amenities in a few months.

The consolidated bases were $ 60 million in the fourth quarter of 2023, up 66. 4 % to $ 36. 1 million in the same period of the previous year. These results mainly reflect the opening of the American Place in February 2023. The net loss in the fourth quarter of 2023 was $ 12. 5 million (after sparse ($ 0. 36) after sparse ($ 0. 36)), mainly before opening and development costs, mainly related to the stage of the chamonie project. Includes a large amount of depreciation of dollars, American Place temporary facilities. The net loss in the same period of the previous year was $ 7 million (per normal shares ($ 0. 20) after sparse ($ 0. 20)), which reflected the pr e-opening and $ 4. 8 million development costs. After the adjustment, EBITDA (a) was $ 3. 9 million in the same period of the previous year, while the 4th quarter of 2023 increased 87, 4%to $ 7. 3 million.

Sales in 2023 were $ 2411 million, an increase of $ 163 million from the previous year to 47, 6 %. These results reflect the $ 5. 8 million earnings based on the two sports betting agreements, with the opening of the American Place in February 2023 and the suspension of business in the third quarter of 2023. I am. The net loss in 2023 was $ 24. 9 million (per share of ordinary stocks ($ 0. 72) after sparse ($ 0. 72)). Includes a large amount of depreciation related to the facility. The net loss in the 2022 period was $ 14. 8 million, and after sparser, per ordinary shares ($ 0. 43), which reflected the $ 9. 8 million development costs before the opening and development costs. After adjusting in 2023, EBITDA was $ 48. 6 million, increasing by $ 32. 1 million in the previous fiscal year, reflecting the above items. < SPAN> consolidate d-based sales were $ 60 million in the fourth quarter of 2023, up 66. 4 % to $ 36. 1 million in the same period of the previous year. These results mainly reflect the opening of the American Place in February 2023. The net loss in the fourth quarter of 2023 was $ 12. 5 million (after sparse ($ 0. 36) after sparse ($ 0. 36)), mainly before opening and development costs, mainly related to the stage of the chamonie project. Includes a large amount of depreciation of dollars, American Place temporary facilities. The net loss in the same period of the previous year was $ 7 million (per normal shares ($ 0. 20) after sparse ($ 0. 20)), which reflected the pr e-opening and $ 4. 8 million development costs. After the adjustment, EBITDA (a) was $ 3. 9 million in the same period of the previous year, while the 4th quarter of 2023 increased 87, 4%to $ 7. 3 million.

Sales in 2023 were $ 2411 million, an increase of $ 163 million from the previous year to 47, 6 %. These results reflect the $ 5. 8 million earnings based on the two sports betting agreements, with the opening of the American Place in February 2023 and the suspension of business in the third quarter of 2023. I am. The net loss in 2023 was $ 24. 9 million (per share of ordinary stocks ($ 0. 72) after sparse ($ 0. 72)). Includes a large amount of depreciation related to the facility. The net loss in the 2022 period was $ 14. 8 million, and after sparse, per ordinary shares ($ 0. 43), which reflects $ 9. 8 million in development and development costs. After adjusting in 2023, EBITDA increased $ 48. 6 million, increasing by $ 32. 1 million in the previous fiscal year, reflecting the above items. The consolidated bases were $ 60 million in the fourth quarter of 2023, up 66. 4 % to $ 36. 1 million in the same period of the previous year. These results mainly reflect the opening of the American Place in February 2023. The net loss in the fourth quarter of 2023 was $ 12. 5 million (after sparse ($ 0. 36) after sparse ($ 0. 36)), mainly before opening and development costs, mainly related to the stage of the chamonie project. Includes a large amount of depreciation of dollars, American Place temporary facilities. The net loss in the same period of the previous year was $ 7 million (per normal shares ($ 0. 20) after sparse ($ 0. 20)), which reflected the pr e-opening and $ 4. 8 million development costs. After the adjustment, EBITDA (a) was $ 3. 9 million in the same period of the previous year, while the 4th quarter of 2023 increased 87, 4%to $ 7. 3 million.

Sales in 2023 were $ 2411 million, an increase of $ 163 million from the previous year to 47, 6 %. These results reflect the $ 5. 8 million earnings based on the two sports betting agreements, with the opening of the American Place in February 2023 and the suspension of business in the third quarter of 2023. I am. The net loss in 2023 was $ 24. 9 million (per share of ordinary stocks ($ 0. 72) after sparse ($ 0. 72)). Includes a large amount of depreciation related to the facility. The net loss in the 2022 period was $ 14. 8 million, and after sparser, per ordinary shares ($ 0. 43), which reflected the $ 9. 8 million development costs before the opening and development costs. After adjusting in 2023, EBITDA was $ 48. 6 million, increasing by $ 32. 1 million in the previous fiscal year, reflecting the above items.

"We have recently undergone a period of transition. "In 2023, despite the construction pause in Colorado and the expansion at American Place, our total cash costs were approximately $38. 4 million and our adjusted EBITDA was $48. 6 million as previously discussed. Debt for this period includes substantially all of the financing for Chamonix, which did not open until the end of the year. While some construction continues in Chamonix, the majority of the capital expenditures for these projects have been completed. In addition to this, the expected future revenues from these new facilities should generate significant free cash flow over the next few years. We also recognize that we are generating significant tax losses and tax benefits due to the acceleration of depreciation expenses associated with new developments."

On the US side, Illinois recently passed a bill that allows the state to operate temporary facilities until August 2027. This is because a tribe operating a competing casino in Wisconsin has filed a lawsuit against the City of Waukegan and the Illinois Gaming Commission, alleging that the tribe did not receive due consideration in its attempt to obtain a gaming license for the city of Waukegan. An independent consultant hired by the City of Waukegan rated the tribe's proposal as inferior in most respects to all four other proposals, including the Full House proposal. We believe that the lawsuit is without merit. The City and the Illinois Gaming Commission have asked the Illinois Supreme Court to hear the dispute, which has agreed to hear it. We expect the Court to rule by early 2025. "We estimate that construction of the U. S. permanent facility will take approximately two years, and that the majority of the capital costs for the project will not be expected until late 2026 to 2027. We believe that our cash will not be expected until late 2026 to 2027. We should be able to finance a significant portion of the construction costs of the U. S. permanent facility between now and our planned opening in 2027. We are confident that we will be able to raise capital in the debt capital markets for the remainder at the appropriate time. ”

Fourth Quarter and Future Events

Midwest and southern part. This section includes Silver Casino & Hotel, Rising Star Casino Resort, and American Place. In the fourth quarter of 2023, sales were $ 41 million, up 275 million to 78, 8 % in the previous fiscal year. After adjustment, EBITDA increased from $ 46 million in the previous term to $ 72 million to $ 57, 9%. These results reflect the opening of the American Place, a casino in Walker, Illinois, on February 17, 2023. In the fourth quarter of 2023, American Place's revenue was $ 22. 4 million, and after adjustment, the real estate EBITDA was $ 3. 9 million. American Place's performance is slightly reflected in winter seasonality, and marketing costs related to marketing campaigns, which are expected to be beneficial to casinos in the long term, are increasing.

In the year, the sales of this segment increased by 78, 1 % from $ 72 million in 2022 to $ 128 million in 2023, and after adjustment EBITDA from $ 71 million to $ 117 million. Increased. The performance in 2022 reflects the earnings based on two sports betting agreements with thir d-party businesses that suspended the operation in May 2022. The performance in 2023 was the starting of sports skins in Illinois, the start of an alternative operator in Colorado in March 2023, and the other with a thir d-party operator who stopped operating in the third quarter of 2023. Increased by earnings in the two sports betting contracts. Also, as reported, the $ 1 million credit for credit loss had a negative effect on the EBITDA segment after adjustment in 2023.

As of December 31, 2023, it has $ 73. 8 million cash and cash, including $ 37. 6 million cash based on Chamonni e-finished bonds. Our debt is mainly a $ 450 billion bond of $ 2028, which was called a designated premium in February 2024, with a balance of Revolving Credit Facility $ 27 million.

Telephone conference information Today, March 5, 2024, 4:30 pm (1:30 pm in the eastern United States), will hold a telephone conference for investors. From 1:30 pm), we will hold a telephone conference for investors for the fourth quarter of FY2023. Investors can access the live audio web cast from the investor information of our website www. Fullhouseresorts. com. You can also access the telephone conference from (201) 689-8470.

The replay of the telephone conference can be used until March 19, 2024 after the telephone conference. To access the replay, see www. Fullhouseseresorts. com. In addition, investors can call (412) 317-6671 and use the password 13744400 to access the replay.

(a) Adjustment of no n-GAAP financial indicators Our no n-GAAP financial indicators may differ from the displays used by other companies, so the comparison possibilities may be limited. Although it is excluded from some NON-GAAP indicators, we will bear depreciation, interest, corporate tax, etc. and will continue to bear the future. These items must also be considered in comprehensive evaluation of our performance. Furthermore, our no n-GAAP indicators do not take into account the capital spending and other investment activities, and should not be considered as indicators of liquidity. The Company discloses other items that should be considered in terms of depreciation, depreciation expenses, interest and corporate tax, and other items that should be considered when evaluating execution in the coordinated table and consolidated financial statements with the past GAAP financial indicators. We offset these restrictions.

Our no n-GAAP indicators are used in conjunction with GAAP's achievements and achievements in GAAP. These no n-GAAP indicators should not be considered an alternative indicator of other business performance indicators determined in conjunction with net income, operating income, or GAAP, and are replaced with the GAAP financial indicators. It is not something to be dependent on indicators. These no n-GAA P-based indicators reflect the additional methods for viewing our business, and considering the adjustment of the GAA P-based performance and the corresponding past GAA P-based financial indicators. We believe that we will be able to fully understand the factors and trends that will affect our business than to be obtained without disclosure. The management strongly recommends investors to consider our financial information overall without relying on a single financial indicator. < SPAN> Celebration replays will be available until March 19, 2024 after the telephone conference. To access the replay, see www. Fullhouseseresorts. com. In addition, investors can call (412) 317-6671 and use the password 13744400 to access the replay.

(a) Adjustment of no n-GAAP financial indicators Our no n-GAAP financial indicators may differ from the displays used by other companies, so the comparison possibilities may be limited. Although it is excluded from some NON-GAAP indicators, we will bear depreciation, interest, corporate tax, etc. and will continue to bear the future. These items must also be considered in comprehensive evaluation of our performance. Furthermore, our no n-GAAP indicators do not take into account the capital spending and other investment activities, and should not be considered as indicators of liquidity. The Company discloses other items that should be considered in terms of depreciation, depreciation expenses, interest and corporate tax, and other items that should be considered when evaluating execution in the coordinated table and consolidated financial statements with the past GAAP financial indicators. We offset these restrictions.

Our no n-GAAP indicators are used in conjunction with GAAP's achievements and achievements in GAAP. These no n-GAAP indicators should not be considered an alternative indicator of other business performance indicators determined in conjunction with net income, operating income, or GAAP, and are replaced with the GAAP financial indicators. It is not something to be dependent on indicators. These no n-GAA P-based indicators reflect the additional methods for viewing our business, and considering the adjustment of the GAA P-based performance and the corresponding past GAA P-based financial indicators. We believe that we will be able to fully understand the factors and trends that will affect our business than to be obtained without disclosure. The management strongly recommends investors to consider our financial information overall without relying on a single financial indicator. The replay of the telephone conference can be used until March 19, 2024 after the telephone conference. To access the replay, see www. Fullhouseseresorts. com. In addition, investors can call (412) 317-6671 and use the password 13744400 to access the replay.

(a) Adjustment of no n-GAAP financial indicators Our no n-GAAP financial indicators may differ from the displays used by other companies, so the comparison possibilities may be limited. Although it is excluded from some NON-GAAP indicators, we will bear depreciation, interest, corporate tax, etc. and will continue to bear the future. These items must also be considered in comprehensive evaluation of our performance. Furthermore, our no n-GAAP indicators do not take into account the capital spending and other investment activities, and should not be considered as indicators of liquidity. The Company discloses other items that should be considered in terms of depreciation, depreciation expenses, interest and corporate tax, and other items that should be considered when evaluating execution in the coordinated table and consolidated financial statements with the past GAAP financial indicators. We offset these restrictions.

Our no n-GAAP indicators are used in conjunction with GAAP's achievements and achievements in GAAP. These no n-GAAP indicators should not be considered an alternative indicator of other business performance indicators determined in conjunction with net income, operating income, or GAAP, and are replaced with the GAAP financial indicators. It is not something to be dependent on indicators. These no n-GAA P-based indicators reflect the additional methods for viewing our business, and considering the adjustment of the GAA P-based performance and the corresponding past GAA P-based financial indicators. We believe that we will be able to fully understand the factors and trends that will affect our business than to be obtained without disclosure. The management strongly recommends investors to consider our financial information overall without relying on a single financial indicator.							Segment Adjusted EBITDA. Adjusted segment EBITDA is used as a measure of segment profitability for the purposes of evaluating performance and allocating resources at the reportable segment level. Adjusted segment EBITDA is defined as earnings before interest and other non-operating income (expense), taxes, depreciation and amortization, pre-opening charges, certain impairment charges, asset write-downs, recoveries, gains and losses on asset sales, project development and acquisition costs, non-cash compensation expense, and corporate costs and expenses not allocated to the segments.
EBITDA is a customized same-store section. Comparable adjusted segment EBITDA is adjusted to exclude adjusted EBITDA for owned properties that have not been in operation for a full year. Property-adjusted EBITDA is defined as earnings before interest and other non-operating income (expense), taxes, depreciation and amortization, pre-opening expenses, certain impairment charges, asset write-downs, recoveries, gains (losses) on asset sales, project development and acquisition costs, non-cash compensation charges, and corporate costs and expenses not allocated to each property.							EBITDA is a customized same-store section. Comparable adjusted segment EBITDA is adjusted to exclude adjusted EBITDA for owned properties that have not been in operation for a full year. Property-adjusted EBITDA is defined as earnings before interest and other non-operating income (expense), taxes, depreciation and amortization, pre-opening expenses, certain impairment charges, asset write-downs, recoveries, gains (losses) on asset sales, project development and acquisition costs, non-cash compensation charges, and corporate costs and expenses not allocated to each property.
Full House Resorts, Inc. and Subsidiaries Consolidated Statement of Income (Unaudited) (In thousands, except per share data)			First Quarter			Full House Resorts, Inc. and Subsidiaries Consolidated Statement of Income (Unaudited) (In thousands, except per share data)			First Quarter
December 31
2023	$	2022	$	2023	$	2022	$	Revenue
Casino	45. 347	25. 583	176. 933	113. 876
Food and Beverage	8. 561	6. 239	33. 980	26. 494
Hotels	2. 376	2. 206	9. 428	9. 282
Other Operations (including traditional sports betting)	3. 745	2. 054	20, 719
13. 629
2023	36. 082	241, 060	163, 281	Costs and Expenses
Casino	18. 290	9. 515	68. 061	39, 788
Food and Beverage	8. 425	6. 238	33, 240	26. 372
Hotels	1. 229	574	1. 282	4. 840
4. 806	Other Operations	1. 620	3. 498	2. 168
Selling, General and Administrative Expenses	8	195	53	228
23. 923	14, 911	85. 746	59, 706	Project Development Costs, Net
Protection Costs	3. 051	4. 644	15. 685	9. 558
Depreciation and amortization	—	39	7	42
8. 610	1. 918	31. 092	7. 930
Loss on disposal of assets	65. 156	)	39. 316	)	242. 222	)	150. 598
Operating profit (loss)
(5. 127	(3. 234	)	(1. 162	)	12. 683	)	Other (expense) income	)
Interest expense - net	—	—	—	(6. 658	)
(3. 763	—	—	384	—
(3. 234	)	(1. 162	)	Loss on adjustment of debt	)	(4. 530	)
Settlement proceeds received	(6. 658	)	(3. 763	)	(22. 593	)	(27. 518	)
Loss before tax	697	(11. 785	)	(6, 997	(23. 755	)
(14. 835	$	Income tax expense (benefit)	)	$	(15	)	$	1. 149	)	$	(31	)
Net loss	$	(12. 482	)	$	(6. 982	)	$	(24. 904	)	$	(14. 804	)
Basic loss per share	$	(12. 482	)	$	(6. 982	)	$	(24. 904	)	$	(14. 804	)
Diluted loss per share	(0, 36	(0, 20	(0, 72	(0, 43
Basic weighted average common shares outstanding	(0, 36	(0, 20	(0, 72	(0, 43

Diluted weighted average common shares outstanding

Our no n-GAAP indicators are used in conjunction with GAAP's achievements and achievements in GAAP. These no n-GAAP indicators should not be considered an alternative indicator of other business performance indicators determined in conjunction with net income, operating income, or GAAP, and are replaced with the GAAP financial indicators. It is not something to be dependent on indicators. These no n-GAA P-based indicators reflect the additional methods for viewing our business, and considering the adjustment of the GAA P-based performance and the corresponding past GAA P-based financial indicators. We believe that we will be able to fully understand the factors and trends that will affect our business than to be obtained without disclosure. The management strongly recommends investors to consider our financial information overall without relying on a single financial indicator.							Segment Adjusted EBITDA. Adjusted segment EBITDA is used as a measure of segment profitability for the purposes of evaluating performance and allocating resources at the reportable segment level. Adjusted segment EBITDA is defined as earnings before interest and other non-operating income (expense), taxes, depreciation and amortization, pre-opening charges, certain impairment charges, asset write-downs, recoveries, gains and losses on asset sales, project development and acquisition costs, non-cash compensation expense, and corporate costs and expenses not allocated to the segments.
EBITDA is a customized same-store section. Comparable adjusted segment EBITDA is adjusted to exclude adjusted EBITDA for owned properties that have not been in operation for a full year. Property-adjusted EBITDA is defined as earnings before interest and other non-operating income (expense), taxes, depreciation and amortization, pre-opening expenses, certain impairment charges, asset write-downs, recoveries, gains (losses) on asset sales, project development and acquisition costs, non-cash compensation charges, and corporate costs and expenses not allocated to each property.							EBITDA is a customized same-store section. Comparable adjusted segment EBITDA is adjusted to exclude adjusted EBITDA for owned properties that have not been in operation for a full year. Property-adjusted EBITDA is defined as earnings before interest and other non-operating income (expense), taxes, depreciation and amortization, pre-opening expenses, certain impairment charges, asset write-downs, recoveries, gains (losses) on asset sales, project development and acquisition costs, non-cash compensation charges, and corporate costs and expenses not allocated to each property.
Full House Resorts, Inc. and Subsidiaries Consolidated Statement of Income (Unaudited) (In thousands, except per share data)			First Quarter			Full House Resorts, Inc. and Subsidiaries Consolidated Statement of Income (Unaudited) (In thousands, except per share data)			First Quarter
December 31
2023	$	2022	$	2023	$	2022	$	Revenues
Midwest and South	49. 094	27, 451	192, 358	119, 950
West	8. 588	7. 534	35, 888	36, 135
$	Other Operations (including traditional sports betting)	$	3. 745	$	2. 054	$	20, 719
7, 196
2023	$	36. 082	$	241, 060	$	163, 281	$	Adjusted EBITDA Segments(1) and Adjusted EBITDA
Midwest and South	7, 198	)	4, 560	)	39, 028	26, 376
West	(130	(287	2, 408	4, 220
Sports Betting Contracts	1, 290	1, 079	11, 663	7, 127
Adjusted EBITDA Segments	8, 358	)	5, 352	)	53, 099	)	37, 723	)
Corporate	$	(1, 063	$	(1, 459	$	(4, 542	$	(5, 589

Adjusted EBITDA

7, 295

Our no n-GAAP indicators are used in conjunction with GAAP's achievements and achievements in GAAP. These no n-GAAP indicators should not be considered an alternative indicator of other business performance indicators determined in conjunction with net income, operating income, or GAAP, and are replaced with the GAAP financial indicators. It is not something to be dependent on indicators. These no n-GAA P-based indicators reflect the additional methods for viewing our business, and considering the adjustment of the GAA P-based performance and the corresponding past GAA P-based financial indicators. We believe that we will be able to fully understand the factors and trends that will affect our business than to be obtained without disclosure. The management strongly recommends investors to consider our financial information overall without relying on a single financial indicator.						Segment Adjusted EBITDA. Adjusted segment EBITDA is used as a measure of segment profitability for the purposes of evaluating performance and allocating resources at the reportable segment level. Adjusted segment EBITDA is defined as earnings before interest and other non-operating income (expense), taxes, depreciation and amortization, pre-opening charges, certain impairment charges, asset write-downs, recoveries, gains and losses on asset sales, project development and acquisition costs, non-cash compensation expense, and corporate costs and expenses not allocated to the segments.
EBITDA is a customized same-store section. Comparable adjusted segment EBITDA is adjusted to exclude adjusted EBITDA for owned properties that have not been in operation for a full year. Property-adjusted EBITDA is defined as earnings before interest and other non-operating income (expense), taxes, depreciation and amortization, pre-opening expenses, certain impairment charges, asset write-downs, recoveries, gains (losses) on asset sales, project development and acquisition costs, non-cash compensation charges, and corporate costs and expenses not allocated to each property.						(1) The Company uses the Adjusted Segments in assessing its operating results and allocating resources at the segment level that may be reported. We use EBITDA as a measure of operating profitability.			EBITDA is a customized same-store section. Comparable adjusted segment EBITDA is adjusted to exclude adjusted EBITDA for owned properties that have not been in operation for a full year. Property-adjusted EBITDA is defined as earnings before interest and other non-operating income (expense), taxes, depreciation and amortization, pre-opening expenses, certain impairment charges, asset write-downs, recoveries, gains (losses) on asset sales, project development and acquisition costs, non-cash compensation charges, and corporate costs and expenses not allocated to each property.					(1) The Company uses the Adjusted Segments in assessing its operating results and allocating resources at the segment level that may be reported. We use EBITDA as a measure of operating profitability.
Year End	Full House Resorts, Inc. and Subsidiaries Consolidated Statement of Income (Unaudited) (In thousands, except per share data)			First Quarter		December 31			Full House Resorts, Inc. and Subsidiaries Consolidated Statement of Income (Unaudited) (In thousands, except per share data)		First Quarter		December 31
2022
Decrease	$	2023	$	2023	(Decrease)	)	%	$	Midwest and South	$	Revenues	26. 744	)	%
27, 451	(2. 6	—	115, 371	119, 950	—	115, 371
Americas	$	2022	$	2023	76, 987	%	$	2022	$	Revenues	49. 094	%
27, 451	$	78. 8	$	241, 060	119, 950	)	%	$	60. 4	$	Adjusted EBITDA Segments(1) and Adjusted EBITDA	3. 280	)	%
27, 451	(28. 1	—	115, 371	26. 376	—	115, 371
American region	$	36. 082	$	241, 060	18. 409	%	$	163, 281	$	Adjusted EBITDA Segments(1) and Adjusted EBITDA	7, 198	%
4. 560
57. 9	$	841	$	7. 534	26. 376	)	%	$	48. 0	$	Contract sports betting	Total income of contract sports betting (2)	)	%
1. 097	—	—	115, 371	4. 773	5. 555	(14. 1	%
Early income due to the end of the contract (3)	Yea r-o n-year	—	115, 371	1. 641	—	115, 371
Illinois	$	8. 588	$	7. 534	2. 247	%	$	35, 888	$	36, 135	2. 347	%
1. 097	$	113. 9	)	$	(287	7, 196	)	%	$	78. 1	$	Existing store Sportsbook Contract Sports Book Customize EBITDA (2)	(140	)	%
1. 097	—	—	115, 371	4. 773	5. 555	(14. 1	%
Early income due to the end of the contract (3)	Yea r-o n-year	—	115, 371	1. 641	—	115, 371
Illinois	$	(130	$	(287	2. 152	%	$	2, 408	$	4, 220	1. 290	%

1. 079

19. 6

Our no n-GAAP indicators are used in conjunction with GAAP's achievements and achievements in GAAP. These no n-GAAP indicators should not be considered an alternative indicator of other business performance indicators determined in conjunction with net income, operating income, or GAAP, and are replaced with the GAAP financial indicators. It is not something to be dependent on indicators. These no n-GAA P-based indicators reflect the additional methods for viewing our business, and considering the adjustment of the GAA P-based performance and the corresponding past GAA P-based financial indicators. We believe that we will be able to fully understand the factors and trends that will affect our business than to be obtained without disclosure. The management strongly recommends investors to consider our financial information overall without relying on a single financial indicator.							Segment Adjusted EBITDA. Adjusted segment EBITDA is used as a measure of segment profitability for the purposes of evaluating performance and allocating resources at the reportable segment level. Adjusted segment EBITDA is defined as earnings before interest and other non-operating income (expense), taxes, depreciation and amortization, pre-opening charges, certain impairment charges, asset write-downs, recoveries, gains and losses on asset sales, project development and acquisition costs, non-cash compensation expense, and corporate costs and expenses not allocated to the segments.
EBITDA is a customized same-store section. Comparable adjusted segment EBITDA is adjusted to exclude adjusted EBITDA for owned properties that have not been in operation for a full year. Property-adjusted EBITDA is defined as earnings before interest and other non-operating income (expense), taxes, depreciation and amortization, pre-opening expenses, certain impairment charges, asset write-downs, recoveries, gains (losses) on asset sales, project development and acquisition costs, non-cash compensation charges, and corporate costs and expenses not allocated to each property.							EBITDA is a customized same-store section. Comparable adjusted segment EBITDA is adjusted to exclude adjusted EBITDA for owned properties that have not been in operation for a full year. Property-adjusted EBITDA is defined as earnings before interest and other non-operating income (expense), taxes, depreciation and amortization, pre-opening expenses, certain impairment charges, asset write-downs, recoveries, gains (losses) on asset sales, project development and acquisition costs, non-cash compensation charges, and corporate costs and expenses not allocated to each property.
Full House Resorts, Inc. and Subsidiaries Consolidated Statement of Income (Unaudited) (In thousands, except per share data)			First Quarter			Full House Resorts, Inc. and Subsidiaries Consolidated Statement of Income (Unaudited) (In thousands, except per share data)			First Quarter
(14. 835	$	Income tax expense (benefit)	)	$	(15	)	$	1. 149	)	$	(31	)
Loss before tax	697	(11. 785	)	(6, 997	(23. 755	)
(5. 127	Corporate income tax expenses (profit)	(15	1. 149	(31
Interest expense - net	—	—	—	6. 658
(3. 763	—	—	22. 977	)	—
Loss on disposal of assets	65. 156	)	39. 316	)	242. 222	)	150. 598
Selling, General and Administrative Expenses	8	195	53	228
23. 923	14, 911	85. 746	59, 706	Project Development Costs, Net
Protection Costs	3. 051	4. 644	15. 685	9. 558
Depreciation and amortization	—	39	7	42
8. 610	753	331	1. 918	31. 092
7, 930	$	(1, 063	$	(1, 459	$	(4, 542	$	(5, 589

EBITDA after adjustment

7. 295
3. 893
48. 557
32, 134			Full house resorts ink and subsidiary Supplement Supplement After adjustment from information operating profit (loss) to ebitDa and after adjustment, adjustment to EBITDA (unit: thousand, not audit)		Until December 31, 2023		Customization		section
Functional function			Depreciation		plan		stock		EBITDA and		3. 893
development			development		Preparation		Preparation		custom		loss
Year End
2023	$	Court expenses	)	$	Compensation	$	—	$	139	$	—	$	36. 082
Midwest and South	Midwest and Southern	)	627	—	(894	—	7, 198	)
West	(130	—	—	—	—	(130
2. 912	)	(130	—	14, 911	—	1, 290
1. 290
Adjusted EBITDA Segments	8. 580	)	30	8	—	753	8, 358	)
$	65. 156	)	$	3. 051	$	8	$	14, 911	$	753	$	(1, 063

(1. 063
3. 893
48. 557
32, 134			Full house resorts ink and subsidiary Supplement Supplement After adjustment from information operating profit (loss) to ebitDa and after adjustment, adjustment to EBITDA (unit: thousand, not audit)		3 months ending on December 31, 2022		Until December 31, 2023		Customization		section
Functional function			Depreciation		Plan		plan		stock		EBITDA and		3. 893
development			development		Preparation		Preparation		Preparation		custom		loss
Year End
2023	$	Court expenses	)	$	Compensation	$	39	$	—	$	EBITDA	$	—	$	241, 060
Midwest and South	(1. 035	)	567	—	—	406	—	4, 560	)
West	(287	—	—	—	—	—	(287
(1. 260	)	(287	39	—	85. 746	—	1, 079
1. 290
Adjusted EBITDA Segments	1. 885	)	33	—	195	—	331	5, 352	)
$	39. 316	)	$	4. 644	$	39	$	195	$	85. 746	$	331	$	(1, 459

EBITDA after adjustment

(3. 234
3. 893
48. 557
32, 134			Full house resorts ink and subsidiary Supplement Supplement After adjustment from information operating profit (loss) to ebitDa and after adjustment, adjustment to EBITDA (unit: thousand, not audit)		3 months ending on December 31, 2022		Until December 31, 2023		Customization		section
Functional function			Depreciation		Plan		plan		stock		EBITDA and		3. 893
development			development		Preparation		Preparation		Preparation		custom		loss
Year End
2023	$	428	$	Court expenses	$	7	$	—	$	Compensation	$	—	$	163, 281
Midwest and South	Midwest and Southern	)	28. 593	—	—	10. 000	—	39, 028
West	2, 408	—	—	—	—	—	2, 408
5. 685	2. 408	7	—	59, 706	—	11, 663
1. 290
Adjusted EBITDA Segments	30. 970	)	122	—	53	—	1. 918	53, 099	)
$	242. 222	)	$	15. 685	$	7	$	53	$	59, 706	$	1. 918	$	(4, 542

(1. 162
31. 092			3. 893
2. 882			48. 557
32, 134			Full house resorts ink and subsidiary Supplement Supplement After adjustment from information operating profit (loss) to ebitDa and after adjustment, adjustment to EBITDA (unit: thousand, not audit)		After adjustment			Until December 31, 2023		Customization		section
Functional function			Depreciation		Plan			plan		stock		EBITDA and		3. 893
development			development		Preparation			Preparation		Preparation		custom		loss
Year End
2023	$	Court expenses	$	Compensation	$	47	$	—	$	EBITDA	$	—	$	Adjusted EBITDA Segments(1) and Adjusted EBITDA
Midwest and South	394	13. 053	(5	)	—	5, 150	—	26, 376
West	4, 220	—	—	—	—	—	4, 220
1. 432	4. 220	42	—	Project Development Costs, Net	—	7, 127
1. 290
Adjusted EBITDA Segments	7. 549	)	381	—	228	—	31. 092	37, 723	)
$	150. 598	$	9. 558	$	42	$	228	$	Project Development Costs, Net	$	31. 092	$	(5, 589

12. 683

7, 930

9. 558

1. 693