Full House Resorts (FLL) investor relations material

Executive summary

• Consolidated revenues for Q2 2026 increased 5.6% year-over-year to $78.1 million, driven by strong growth at American Place and Chamonix, partially offset by the sale of Stockman's Casino and fewer contracted sports wagering skins.

• Adjusted EBITDA rose 19.5% to $13.3 million, reflecting increased profitability at American Place and Chamonix/Bronco Billy's.

• Net loss improved to $(8.7) million from $(10.4) million in Q2 2025, with diluted loss per share at $(0.24) versus $(0.29) last year.

• Operating income for Q2 2026 was $2.3 million, up from a loss of $(0.1) million in Q2 2025.

• Chamonix revenues increased nearly 12% following new marketing strategies, though adjusted property EBITDA was approximately break even.

Financial highlights

• Q2 2026 revenues: $78.1 million (Q2 2025: $73.9 million); H1 2026 revenues: $152.5 million (H1 2025: $149.0 million).

• Adjusted EBITDA for H1 2026: $26.5 million, up 17% year-over-year.

• Casino revenues reached $60.3 million, food and beverage $10.1 million, hotel $4.2 million, and other operations $3.6 million.

• Interest expense for the quarter was $10.8 million.

• Cash and equivalents at June 30, 2026: $33.4 million; liquidity was $48.4 million.

Outlook and guidance

• Permanent American Place casino expected to open in the second half of 2028, with construction requiring 18–24 months.

• Temporary American Place facility approved to operate through February 2029, ensuring continuity during construction.

• Management anticipates continued growth at American Place and Chamonix as operations ramp up, with Chamonix targeting significant EBITDA growth over the next 18 months.