Full House Resorts (FLL) 10-Q 5 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 03, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	FULL HOUSE RESORTS INC
Entity Central Index Key	891,482
Trading Symbol	fll
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		18,969,396
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenues
Casino	$ 29,130	$ 26,354
Food and beverage	6,229	5,849
Hotel	1,965	1,279
Other operations	739	638
Gross revenues	38,063	34,120
Less promotional allowances	(6,056)	(5,036)
Net revenues	32,007	29,084
Operating costs and expenses
Casino	14,685	13,732
Food and beverage	1,966	2,100
Hotel	202	120
Other operations	303	268
Selling, general and administrative	11,340	10,844
Project development, acquisition costs and other	287	42
Depreciation and amortization	1,693	1,992
Total operating costs and expenses	30,476	29,098
Operating income (loss)	1,531	(14)
Other (expense) income
Interest expense, net of $0 and $0.2 million capitalized	(1,762)	(1,525)
Other	0	12
Total other (expense) income	(1,762)	(1,513)
Loss before income taxes	(231)	(1,527)
Provision for income taxes	99	228
Net loss	$ (330)	$ (1,755)
Basic and diluted loss per share (in dollars per share)	$ (0.02)	$ (0.09)
Basic and diluted weighted average number of common shares outstanding (in shares)	18,969	18,877

CONSOLIDATED STATEMENTS OF OPE3

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (Parentheticals) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
Capitalized interest	$ 0	$ 0.2

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current assets
Cash and equivalents	$ 13,115	$ 14,574
Restricted cash	569	569
Accounts receivable, net of collection allowance of $98 and $121	1,271	1,714
Inventories	1,096	1,125
Prepaid expenses	3,150	2,800
Acquisition deposit	2,500	2,500
Total current assets	21,701	23,282
Property and equipment, net	97,401	98,982
Other long-term assets
Goodwill	16,480	16,480
Intangible assets, net of accumulated amortization of $7,709 and $7,701	2,202	2,127
Deposits and other	584	541
Deferred tax	55	55
Total other long-term assets	19,321	19,203
Total assets	138,423	141,467
Current liabilities
Accounts payable	3,910	4,272
Accrued payroll and other	6,837	6,529
Deferred tax	985	981
Current portion of long-term debt	4,500	6,000
Current portion of capital lease obligation	346	665
Total current liabilities	16,578	18,447
Long-term debt, net of current portion	59,476	60,642
Capital lease obligation, net of current portion	5,673	5,505
Deferred tax	446	350
Total liabilities	$ 82,173	$ 84,944
Commitments and contingencies (Notes 3, 7 and 9)
Stockholders’ equity
Common stock, $0.0001 par value, 100,000,000 shares authorized; 20,325,991 issued and 18,969,396 shares outstanding	$ 2	$ 2
Additional paid-in capital	46,278	46,221
Treasury stock, 1,356,595 common shares	(1,654)	(1,654)
Retained earnings	11,624	11,954
Total stockholders' equity	56,250	56,523
Total liabilities and stockholders' equity	$ 138,423	$ 141,467

CONSOLIDATED BALANCE SHEETS (U5

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 98	$ 121
Accumulated amortization of intangible assets	$ 7,709	$ 7,701
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	20,325,991	20,325,991
Common stock, shares outstanding	18,969,396	18,969,396
Treasury stock, common shares	1,356,595	1,356,595

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - 3 months ended Mar. 31, 2016 - USD ($) shares in Thousands, $ in Thousands	Total	Common stock	Additional paid-in capital	Treasury stock	Retained Earnings
Beginning balances at Dec. 31, 2015	$ 56,523	$ 2	$ 46,221	$ (1,654)	$ 11,954
Beginning balances (in shares) at Dec. 31, 2015		20,326		1,357
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	57		57
Net loss	(330)				(330)
Ending balances at Mar. 31, 2016	$ 56,250	$ 2	$ 46,278	$ (1,654)	$ 11,624
Ending balances (in shares) at Mar. 31, 2016		20,326		1,357

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net loss	$ (330)	$ (1,755)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation	1,685	1,492
Amortization of debt costs	384	404
Amortization of player loyalty program, land lease and water rights	8	500
Impairments	0	84
Stock-based compensation	57	37
Increases and decreases in operating assets and liabilities:
Accounts receivable, net	193	257
Income tax receivable	0	3,095
Prepaid expenses, inventories and other	(321)	(768)
Deferred tax	100	228
Accounts payable and accrued expenses	79	(1,988)
Net cash provided by operating activities	1,855	1,586
Cash flows from investing activities:
Purchase of property and equipment	(237)	(4,900)
Proceeds from repayment of tribal advance	250	0
Deposits and other	(74)	(234)
Net cash used in investing activities	(61)	(5,134)
Cash flows from financing activities:
First Term Loan borrowings	0	4,461
First Term Loan repayments	(3,000)	0
Revolving Loan repayments, net	0	(2,000)
Repayment of capital lease obligation	(151)	(190)
Debt costs and other	(102)	(25)
Net cash (used) provided by financing activities	(3,253)	2,246
Net decrease in cash and equivalents	(1,459)	(1,302)
Cash and equivalents, beginning of period	14,574	15,639
Cash and equivalents, end of period	13,115	14,337
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest, net of amounts capitalized	1,309	1,053
Cash (received) paid for income taxes	0	(3,160)
NON-CASH INVESTING ACTIVITIES:
Accrued capital expenditures	$ 73	$ 1,331

ORGANIZATION

ORGANIZATION	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION Organization. Formed as a Delaware corporation in 1987, Full House Resorts, Inc., ("Full House") owns, operates, develops, manages, and/or invests in casinos and related hospitality and entertainment facilities. References in this document to the "Company", “we”, “our”, or “us” refer to Full House Resorts, Inc. and its subsidiaries, except where stated or the context otherwise indicates. We currently own and operate three casino properties and operate a fourth casino subject to a lease, as follows: Property Acquisition Date Location Silver Slipper Casino and Hotel (owned, subject to a land lease) 2012 Hancock County, MS (near New Orleans) Rising Star Casino Resort (owned) 2011 Rising Sun, IN (near Cincinnati) Stockman’s Casino (owned) 2007 Fallon, NV (one hour east of Reno) Grand Lodge Casino (leased and part of the Hyatt Regency Lake Tahoe Resort) 2011 Incline Village, NV (North Shore of Lake Tahoe) We manage our casinos based on geographic regions within the United States. Accordingly, Stockman’s Casino and Grand Lodge Casino comprise our Northern Nevada business segment, while Rising Star and Silver Slipper are currently distinct segments. See Note 11 for further information.

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation. As permitted by the rules and regulations of the Securities and Exchange Commission, certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) have been condensed or omitted. These consolidated financial statements should be read in conjunction with the Company’s 2015 annual consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. The interim consolidated financial statements of the Company included herein reflect all adjustments (consisting of normal recurring adjustments) that are, in the opinion of management, necessary to present fairly the financial position and results of operations for the interim periods presented. The results of operations for the interim periods are not necessarily indicative of the results that may be expected for the entire year. The consolidated financial statements include the accounts of Full House and its wholly-owned subsidiaries. All material intercompany accounts and transactions have been eliminated. Income taxes. For interim income tax reporting, it was determined that the Company's annual effective tax rate could not be reasonably estimated. As a result, the actual year-to-date effective tax rate was used to determine the tax expense incurred during the three months ended March 31, 2016. During the period ended March 31, 2015, the Company estimated its annual effective tax rate and applied it to its year-to-date pretax loss. Earnings (loss) per share. Earnings (loss) per share is computed by dividing net income (loss) applicable to common stock by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflects the additional dilution for all potentially-dilutive securities, including stock options and unvested restricted shares using the treasury stock method. For the three months ended March 31, 2016 and 2015, all potentially dilutive securities, totaling 1,563,834 and 1,243,834 shares, were excluded from the earnings (loss) per share computation, as their effect would be anti-dilutive. These securities could potentially dilute basic earnings per share in the future. Debt issuance costs. In April 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2015-03, “Simplifying the Presentation of Debt Issuance Costs,” (“ASU 2015-03”), which is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015. ASU 2015-03 requires debt issuance costs to be presented in the balance sheet as a direct deduction from the carrying value of the associated debt liability, consistent with the presentation of a debt discount. The amortization of such costs will continue to be reported as interest expense. Accordingly, the Company has adopted this accounting standard and reclassified the prior-period amounts to conform to the current-period presentation. Other reclassifications. Certain minor reclassifications have been made to prior period amounts to conform to the current-period presentation. Such reclassifications had no effect on the previously reported net loss or retained earnings. Recently issued accounting standards. In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2016-02, “Leases (Topic 842),” (“ASU 2016-02”), which replaces the existing guidance in Accounting Standard Codification 840, Leases. ASU 2016-02 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. ASU 2016-02 requires a dual approach for lessee accounting under which a lessee would account for leases as finance leases or operating leases. Both finance leases and operating leases will result in the lessee recognizing a right-of-use (“ROU”) asset and a corresponding lease liability. The Company is currently assessing the impact that adoption of this guidance will have on its consolidated financial statements and footnote disclosures. Management believes that there are no other recently issued accounting standards not yet effective that are likely to have a material impact on our financial statements.

PENDING ACQUISITION & SUBSEQUEN

PENDING ACQUISITION & SUBSEQUENT EVENT	3 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
PENDING ACQUISITION & SUBSEQUENT EVENT	PENDING ACQUISITION & SUBSEQUENT EVENT On September 27, 2015, the Company, through its newly formed subsidiary FHR-Colorado LLC, entered into an asset purchase agreement (the "Bronco Billy's Purchase Agreement") with Pioneer Group, Inc., a Nevada corporation (“Pioneer Group”), pursuant to which the Company would acquire the operating assets and assume certain liabilities of Bronco Billy’s Casino and Hotel (“Bronco Billy’s”) in Cripple Creek, Colorado for a purchase price of $30.0 million . We intend to finance the acquisition concurrent with the refinancing of our outstanding first and second lien debt. On February 18, 2016, the Colorado Limited Gaming Control Commission approved the Company for the licenses necessary for its pending acquisition of Bronco Billy’s. The Company expects to complete its refinancing and close on the pending acquisition in the second quarter of 2016, subject to obtaining the remaining required regulatory approvals and other customary closing conditions. The Bronco Billy's Purchase Agreement may be terminated by Pioneer Group if the closing has not taken place by May 14, 2016, which includes extensions of four 30 -day periods we have exercised to obtain required gaming approvals.

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	3 Months Ended
	Mar. 31, 2016
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	PROPERTY AND EQUIPMENT Property and equipment, including capital lease assets, consisted of the following: (In thousands) March 31, December 31, (Unaudited) Land and improvements $ 12,659 $ 12,657 Buildings and improvements 90,694 90,636 Furniture and equipment 31,932 31,899 Construction in progress 23 13 135,308 135,205 Less accumulated depreciation (37,907 ) (36,223 ) $ 97,401 $ 98,982

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLES	GOODWILL AND OTHER INTANGIBLES At least annually during the fourth quarter, or more frequently when there is a material change in circumstances that could have a negative effect, the Company performs an assessment of its goodwill and other indefinite-lived intangible assets to determine if the carrying value of such assets exceeds the fair value. No change in circumstances that would trigger an evaluation was observed during the three months ended March 31, 2016, or subsequently.

LONG-TERM DEBT

LONG-TERM DEBT	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT Long-term debt consisted of the following: (In thousands) March 31, (unaudited) Outstanding Principal Unamortized Debt Issuance Costs Long-term Debt, Net First Term Loan $ 43,000 $ (559 ) $ 42,441 Revolving Loan 2,000 — 2,000 Second Term Loan 20,000 (465 ) 19,535 65,000 (1,024 ) 63,976 Less current portion (4,500 ) — (4,500 ) $ 60,500 $ (1,024 ) $ 59,476 (In thousands) December 31, Outstanding Principal Unamortized Debt Issuance Costs Long-term Debt, Net First Term Loan $ 46,000 $ (777 ) $ 45,223 Revolving Loan 2,000 — 2,000 Second Term Loan 20,000 (581 ) 19,419 68,000 (1,358 ) 66,642 Less current portion (6,000 ) — (6,000 ) $ 62,000 $ (1,358 ) $ 60,642 First and Second Lien Credit Facilities. The First Lien Credit Facility, including the Revolving Loan, and Second Lien Credit Facility are secured by substantially all of our assets. Effective March 11, 2016, we amended the First Lien Credit Facility which extended the maturity date to April 1, 2017. With the exception of FHR-Colorado LLC, which was recently formed to acquire Bronco Billy's , our principal wholly-owned subsidiaries guarantee our obligations under the credit facilities. First Lien Credit Facility The First Lien Credit Facility provided for the First Term Loan (including a $10 million construction term loan used to build the hotel at Silver Slipper Casino & Hotel) and the Revolving Loan for up to $5 million . Interest-only payments are due monthly and principal payments of $1.5 million are due quarterly. As of March 31, 2016, the interest rate was 4.75% (LIBOR or 1.0% , plus a 3.75% margin). We also maintain a prepaid interest rate cap for a notional amount of $14.75 million at a LIBOR cap rate of 1.5% . The interest rate cap terminates on June 29, 2016. Second Lien Credit Facility The Second Lien Credit Facility provided for a term loan in an amount up to $20 million and is subordinate to the First Lien Credit Facility. It requires interest-only payments that are due monthly and matures on April 1, 2017. As of March 31, 2016, the interest rate was 14.25% and varies between 13.25% and 15.25% based upon our leverage ratio (as defined). The First and Second Lien Credit Facilities contain customary restrictive covenants, including a maximum total leverage ratio, maximum first lien leverage ratio, and a fixed charge coverage ratio. These financial covenant ratios currently are as follows: First Lien Credit Facility Applicable Period Maximum Total Leverage Ratio Maximum First Lien Leverage Ratio Minimum Fixed Charge Coverage Ratio December 31, 2015 through and including March 30, 2016 6.35x 4.35x 1.10x March 31, 2016 through and including June 29, 2016 6.15x 4.15x 1.10x June 30, 2016 through and including September 29, 2016 5.85x 4.00x 1.10x September 30, 2016 and thereafter 5.50x 3.75x 1.10x Second Lien Credit Facility Applicable Period Maximum Total Leverage Ratio Maximum First Lien Leverage Ratio Minimum Fixed Charge Coverage Ratio December 31, 2015 through and including March 30, 2016 6.60x 4.60x 1.00x March 31, 2016 through and including June 29, 2016 6.40x 4.40x 1.00x June 30, 2016 through and including September 29, 2016 6.10x 4.25x 1.00x September 30, 2016 and thereafter 5.75x 4.00x 1.00x We were in compliance with our covenants, as amended, as of March 31, 2016. There can be no assurances that we will remain in compliance with all covenants in all future periods.

CAPITAL LEASE OBLIGATION

CAPITAL LEASE OBLIGATION	3 Months Ended
	Mar. 31, 2016
Leases, Capital [Abstract]
CAPITAL LEASE OBLIGATION	CAPITAL LEASE OBLIGATION Our Indiana subsidiary, Gaming Entertainment (Indiana) LLC ("GEI"), leases a 104 -room hotel at Rising Star Casino Resort. At any time during the lease term, we have the exclusive option to purchase the hotel at a price based upon the project’s actual cost of $7.7 million , reduced by the cumulative principal payments made by the Company during the lease term. At March 31, 2016, such net amount was $6.0 million . Upon expiration of the lease term, either (i) the Landlord has the right to sell the hotel to us, or (ii) we have the option to purchase the hotel. In either case, the purchase price is $1 plus closing costs. The hotel lease agreement is not guaranteed by the parent company or any subsidiary. On March 16, 2016, the hotel lease agreement was amended. The amendment extended the initial term of the lease by four years to October 1, 2027 and modified the rent payment schedule. The rental rate has been reduced from $77,537 per month as follows: (i) to $48,537 per month from April 2016 through March 2017, (ii) to $56,537 per month from April 2017 through March 2018; (iii) to $57,537 per month from April 2018 through March 2019; and (iv) to $63,537 per month from April 2019 through March 2020. Beginning April 1, 2020 through the end of the lease, the scheduled monthly payment shall be $54,326 . The amendment also requires the Company to make certain improvements to the Rising Star Casino Resort of at least $1 million by March 31, 2017 which the Company had been planning.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES We incurred income tax expense of $0.1 million and $0.2 million for the three months ended March 31, 2016 and 2015, respectively. The Company's effective income tax rate for the three months ended March 31, 2016 was -43.0% compared to an effective tax rate of -14.9% during the corresponding prior-year period. Our tax rate differs from the statutory rate of 34.0% primarily due to the effects of our valuation allowance and permanent items. During 2016, we continued to provide a valuation allowance against the deferred tax assets that remain after being utilized by deferred tax liabilities. In future years, if it is determined that we meet the "more likely than not" threshold of utilizing our deferred tax assets, we may reverse some or all of our valuation allowance against our deferred tax assets. Our annual effective tax rate cannot be reasonably estimated.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Operating Leases In addition to the following leases, we have less significant operating leases for certain office and warehouse facilities, office equipment, signage and land. Grand Lodge Casino Lease through August 2023. Our subsidiary, Gaming Entertainment (Nevada), LLC, has a lease with Hyatt Equities L.L.C. ("Hyatt") to operate the Grand Lodge Casino. The lease is secured by the Company’s interests under the lease and property as defined and is subordinate to the liens in the First and Second Lien Credit Facilities. Hyatt has an option, beginning January 1, 2019, to purchase our leasehold interest and related operating assets of the Grand Lodge Casino subject to assumption of applicable liabilities. The option price is an amount equal to the Grand Lodge Casino’s positive working capital, plus Grand Lodge Casino’s earnings before interest, income taxes, depreciation and amortization (“EBITDA”) for the twelve-month period preceding the acquisition (or pro-rated if less than twelve months remain on the lease), plus the fair market value of the Grand Lodge Casino’s personal property. Monthly rent will increase from $125,000 to (i) $145,833 commencing on January 1, 2017, and (ii) $166,667 commencing on January 1, 2018. As a condition of the lease, the Company is required to purchase new gaming devices and equipment at its sole cost and expense of approximately $1.5 million and Hyatt is required to renovate the casino at its sole cost and expense of approximately $3.5 million by February 2017. We also have an agreement with Hyatt to rent a villa for use by our designated casino guests commencing on June 1, 2016. The villa is a free-standing building and consists of two, two-bedroom suites. The agreement includes monthly payments of $41,667 , a six -month termination notification clause which may be exercised by either party, and a maturity date of August 31, 2023, or earlier as set forth therein. Silver Slipper Casino Land Lease through April 2058 and Options to Purchase. In 2004, our subsidiary, Silver Slipper Casino Venture, LLC, entered into a land lease with Cure Land Company, LLC for approximately 31 acres of marshlands and a seven-acre parcel on which the Silver Slipper Casino & Hotel is situated (the "Silver Slipper Land Lease"). The Silver Slipper Land Lease includes base monthly payments of $77,500 plus contingent rents of 3% of gross gaming revenue (as defined in the Silver Slipper Land Lease) in excess of $3.65 million . The Silver Slipper Land Lease includes an exclusive option to purchase the leased land (“Purchase Option”) after February 26, 2019 through October 1, 2027, for $15.5 million plus a seller retained interest in Silver Slipper Casino & Hotel’s operations of 3% of net income (as defined in the Silver Slipper Land Lease), for ten years from the purchase date. In the event that we sell or transfer (i) substantially all of the assets of Silver Slipper Casino Venture, LLC, or (ii) our membership interests in Silver Slipper Casino Venture, LLC in its entirety, the purchase price will increase to $17.1 million plus the retained interest for ten years mentioned above. In either case, we also have an option to purchase only a four -acre portion of the leased land for $2 million , which may be exercised at any time in conjunction with the development of a hotel and which accordingly reduces the purchase price of the remaining land by $2 million . Litigation In 2013 and 2014, we expended approximately $1.6 million to repair defects to the parking garage at the Silver Slipper Casino & Hotel. The parking garage was originally built in 2007 and we acquired the property in 2012. We hired outside legal counsel to pursue the reimbursement of such costs from the contractor and architect, who neglected to install certain structural elements required by the building codes. During the third quarter of 2015, the case was dismissed in favor of the defendants, as the statutes of repose had expired and, in the judge's opinion, we had failed to prove elements that would have extended our right to seek reimbursement of the remedial costs. We filed an appeal on November 2, 2015. On November 25, 2015, we entered into a settlement and release agreement with the architect, and on January 12, 2016, we filed an appellate brief in the US District Court of Appeals 5th Circuit with respect to our litigation with the contractor. On February 26, 2016, the contractor filed its response brief, and on March 21, 2016, we filed our appellant reply brief. Additionally, we are party to a number of pending legal proceedings which occurred in the normal course of business. Management does not expect that the outcome of such proceedings, either individually or in the aggregate, will have a material effect on our financial position, cash flows or results of operations.

SHARE-BASED BENEFIT PLANS

SHARE-BASED BENEFIT PLANS	3 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
SHARE-BASED BENEFIT PLANS	SHARE-BASED BENEFIT PLANS 2015 Equity Incentive Plan. As of March 31, 2016, we had 987,285 share-based awards available for grant from the 2015 Equity Incentive Plan (the “2015 Plan”). The following table summarizes information related to our common stock options as of March 31, 2016: Number of Stock Options Weighted Average Exercise Price Options outstanding at January 1, 2016 1,563,834 $ 1.33 Granted — n/a Exercised — n/a Canceled/Forfeited — n/a Options outstanding at March 31, 2016 1,563,834 $ 1.33 Options exercisable at March 31, 2016 379,324 $ 1.28 Compensation Costs. Stock-based compensation expense totaled $57,000 and $37,000 for the three months ended March 31, 2016 and 2015, respectively. As of March 31, 2016, there was approximately $0.6 million of unrecognized compensation cost related to unvested stock options granted by the Company. This unrecognized compensation cost is expected to be recognized over a weighted average period of 2.6 years. The aggregate intrinsic value of options outstanding was $0.2 million at March 31, 2016. The aggregate intrinsic value represents the total pre-tax intrinsic value that would have been realized by the option holders had all option holders exercised their options on the applicable date. The intrinsic value of a stock option is the excess of our closing stock price on that date over the exercise price, multiplied by the number of in-the-money options.

SEGMENT REPORTING

SEGMENT REPORTING	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTING We manage our casinos based on geographic regions within the United States. The casino/resort segments include the Silver Slipper Casino and Hotel in Hancock County, Mississippi; the Rising Star Casino Resort in Rising Sun, Indiana; and the Northern Nevada segment, which consists of the Grand Lodge Casino in Incline Village, Nevada and Stockman’s Casino in Fallon, Nevada. We no longer have a Development/Management segment as we did not manage any properties for others during the reporting periods. The Company's management utilizes Adjusted Property EBITDA as the primary profit measure for its segments. Adjusted Property EBITDA is a non-GAAP measure defined as Adjusted EBITDA before corporate-related costs and expenses that are not allocated to each property. Adjusted EBITDA is a non-GAAP measure defined as earnings before interest and other non-operating income (expense), taxes, depreciation and amortization, pre-opening expenses, impairment charges, asset write-offs, recoveries, gain (loss) from asset disposals, board and executive transition costs, project development and acquisition costs, and non-cash share-based compensation expense. Adjusted EBITDA or Adjusted Property EBITDA should not be construed as an alternative to operating income or net income for use as an indicator of our performance; or as an alternative to cash flows from operating activities for use as a measure of liquidity; or as an alternative to any other measure determined in accordance with GAAP. We have significant uses of cash flows, including capital expenditures, interest payments, taxes and debt principal repayments, which are not reflected in Adjusted EBITDA or Adjusted Property EBITDA. Also, other companies in the gaming and hospitality industries that report Adjusted EBITDA or Adjusted Property EBITDA information may calculate Adjusted EBITDA or Adjusted Property EBITDA in a different manner. The following tables reflect selected operating information for our reporting segments for the three months ended March 31, 2016 and 2015 and include a reconciliation of Adjusted Property EBITDA to operating income (loss) and net income (loss): For the three months ended March 31, 2016 (In thousands, unaudited) Casino/Resort Operations Northern Nevada Rising Star Casino Resort Silver Slipper Casino & Hotel Corporate Consolidated Revenues, net $ 4,916 $ 12,246 $ 14,845 $ — $ 32,007 Adjusted Property EBITDA $ 767 $ 1,301 $ 2,661 $ — $ 4,729 Other operating costs and expenses: Depreciation and amortization 191 669 829 4 1,693 Corporate expenses — — — 1,161 1,161 Project development and acquisition costs — — — 287 287 Stock compensation — — — 57 57 Operating income (loss) 576 632 1,832 (1,509 ) 1,531 Non-operating expense: Interest expense — 53 4 1,705 1,762 Non-operating expense — 53 4 1,705 1,762 Income (loss) before income taxes 576 579 1,828 (3,214 ) (231 ) Provision for income taxes — 1 98 — 99 Net income (loss) $ 576 $ 578 $ 1,730 $ (3,214 ) $ (330 ) For the three months ended March 31, 2015 (In thousands, unaudited) Casino/Resort Operations Northern Nevada Rising Star Casino Resort Silver Slipper Casino & Hotel Corporate Consolidated Revenues, net $ 4,245 $ 11,115 $ 13,724 $ — $ 29,084 Adjusted Property EBITDA $ 363 $ 205 $ 2,696 $ — $ 3,264 Other operating costs and expenses: Depreciation and amortization 200 688 1,100 4 1,992 Impairments 80 — — 4 84 Corporate expenses — — — 1,123 1,123 Project development and acquisition costs — — — 4 4 Pre-opening — — 38 — 38 Stock compensation — — — 37 37 Operating income (loss) 83 (483 ) 1,558 (1,172 ) (14 ) Non-operating expense: Interest expense, net of amounts capitalized — 42 5 1,478 1,525 Other — (11 ) — (1 ) (12 ) Non-operating expense — 31 5 1,477 1,513 Income (loss) before income taxes 83 (514 ) 1,553 (2,649 ) (1,527 ) Provision for income taxes 2 2 219 5 228 Net income (loss) $ 81 $ (516 ) $ 1,334 $ (2,654 ) $ (1,755 ) Selected balance sheet data as of March 31, 2016 and December 31, 2015 follows: As of March 31, 2016 (In thousands, unaudited) Casino/Resort Operations Northern Nevada Rising Star Casino Resort Silver Slipper Casino & Hotel Corporate Consolidated Total assets $ 11,435 $ 35,957 $ 80,889 $ 10,142 $ 138,423 Property, equipment and capital lease, net 5,909 30,735 60,411 346 97,401 Goodwill 1,809 — 14,671 — 16,480 Liabilities 1,818 10,108 3,216 67,031 82,173 As of December 31, 2015 (In thousands) Casino/Resort Operations Northern Nevada Rising Star Casino Resort Silver Slipper Casino & Hotel Corporate Consolidated Total assets $ 12,105 $ 37,141 $ 82,621 $ 9,600 $ 141,467 Property, equipment and capital lease, net 6,098 31,391 61,150 343 98,982 Goodwill 1,809 — 14,671 — 16,480 Liabilities 1,834 10,034 3,389 69,687 84,944

BASIS OF PRESENTATION AND SIG19

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation. As permitted by the rules and regulations of the Securities and Exchange Commission, certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) have been condensed or omitted. These consolidated financial statements should be read in conjunction with the Company’s 2015 annual consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. The interim consolidated financial statements of the Company included herein reflect all adjustments (consisting of normal recurring adjustments) that are, in the opinion of management, necessary to present fairly the financial position and results of operations for the interim periods presented. The results of operations for the interim periods are not necessarily indicative of the results that may be expected for the entire year. The consolidated financial statements include the accounts of Full House and its wholly-owned subsidiaries. All material intercompany accounts and transactions have been eliminated.
Income Taxes	Income taxes. For interim income tax reporting, it was determined that the Company's annual effective tax rate could not be reasonably estimated. As a result, the actual year-to-date effective tax rate was used to determine the tax expense incurred during the three months ended March 31, 2016. During the period ended March 31, 2015, the Company estimated its annual effective tax rate and applied it to its year-to-date pretax loss.
Earnings (Loss) Per Share	Earnings (loss) per share. Earnings (loss) per share is computed by dividing net income (loss) applicable to common stock by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflects the additional dilution for all potentially-dilutive securities, including stock options and unvested restricted shares using the treasury stock method.
Debt Issuance Costs	Debt issuance costs. In April 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2015-03, “Simplifying the Presentation of Debt Issuance Costs,” (“ASU 2015-03”), which is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015. ASU 2015-03 requires debt issuance costs to be presented in the balance sheet as a direct deduction from the carrying value of the associated debt liability, consistent with the presentation of a debt discount. The amortization of such costs will continue to be reported as interest expense. Accordingly, the Company has adopted this accounting standard and reclassified the prior-period amounts to conform to the current-period presentation.
Recently issued accounting standards	Recently issued accounting standards. In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2016-02, “Leases (Topic 842),” (“ASU 2016-02”), which replaces the existing guidance in Accounting Standard Codification 840, Leases. ASU 2016-02 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. ASU 2016-02 requires a dual approach for lessee accounting under which a lessee would account for leases as finance leases or operating leases. Both finance leases and operating leases will result in the lessee recognizing a right-of-use (“ROU”) asset and a corresponding lease liability. The Company is currently assessing the impact that adoption of this guidance will have on its consolidated financial statements and footnote disclosures. Management believes that there are no other recently issued accounting standards not yet effective that are likely to have a material impact on our financial statements.

ORGANIZATION (Tables)

ORGANIZATION (Tables)	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Real Estate Properties	We currently own and operate three casino properties and operate a fourth casino subject to a lease, as follows: Property Acquisition Date Location Silver Slipper Casino and Hotel (owned, subject to a land lease) 2012 Hancock County, MS (near New Orleans) Rising Star Casino Resort (owned) 2011 Rising Sun, IN (near Cincinnati) Stockman’s Casino (owned) 2007 Fallon, NV (one hour east of Reno) Grand Lodge Casino (leased and part of the Hyatt Regency Lake Tahoe Resort) 2011 Incline Village, NV (North Shore of Lake Tahoe)

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	3 Months Ended
	Mar. 31, 2016
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	Property and equipment, including capital lease assets, consisted of the following: (In thousands) March 31, December 31, (Unaudited) Land and improvements $ 12,659 $ 12,657 Buildings and improvements 90,694 90,636 Furniture and equipment 31,932 31,899 Construction in progress 23 13 135,308 135,205 Less accumulated depreciation (37,907 ) (36,223 ) $ 97,401 $ 98,982

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Schedule of long-term debt, net of current portion	Long-term debt consisted of the following: (In thousands) March 31, (unaudited) Outstanding Principal Unamortized Debt Issuance Costs Long-term Debt, Net First Term Loan $ 43,000 $ (559 ) $ 42,441 Revolving Loan 2,000 — 2,000 Second Term Loan 20,000 (465 ) 19,535 65,000 (1,024 ) 63,976 Less current portion (4,500 ) — (4,500 ) $ 60,500 $ (1,024 ) $ 59,476 (In thousands) December 31, Outstanding Principal Unamortized Debt Issuance Costs Long-term Debt, Net First Term Loan $ 46,000 $ (777 ) $ 45,223 Revolving Loan 2,000 — 2,000 Second Term Loan 20,000 (581 ) 19,419 68,000 (1,358 ) 66,642 Less current portion (6,000 ) — (6,000 ) $ 62,000 $ (1,358 ) $ 60,642
Schedule of first and second lien leverage ratio and fixed charge coverage ratio	These financial covenant ratios currently are as follows: First Lien Credit Facility Applicable Period Maximum Total Leverage Ratio Maximum First Lien Leverage Ratio Minimum Fixed Charge Coverage Ratio December 31, 2015 through and including March 30, 2016 6.35x 4.35x 1.10x March 31, 2016 through and including June 29, 2016 6.15x 4.15x 1.10x June 30, 2016 through and including September 29, 2016 5.85x 4.00x 1.10x September 30, 2016 and thereafter 5.50x 3.75x 1.10x Second Lien Credit Facility Applicable Period Maximum Total Leverage Ratio Maximum First Lien Leverage Ratio Minimum Fixed Charge Coverage Ratio December 31, 2015 through and including March 30, 2016 6.60x 4.60x 1.00x March 31, 2016 through and including June 29, 2016 6.40x 4.40x 1.00x June 30, 2016 through and including September 29, 2016 6.10x 4.25x 1.00x September 30, 2016 and thereafter 5.75x 4.00x 1.00x

SHARE-BASED BENEFIT PLANS (Tabl

SHARE-BASED BENEFIT PLANS (Tables)	3 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Compensation, Stock Options, Activity	The following table summarizes information related to our common stock options as of March 31, 2016: Number of Stock Options Weighted Average Exercise Price Options outstanding at January 1, 2016 1,563,834 $ 1.33 Granted — n/a Exercised — n/a Canceled/Forfeited — n/a Options outstanding at March 31, 2016 1,563,834 $ 1.33 Options exercisable at March 31, 2016 379,324 $ 1.28

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Schedule of selected statement of operations data	The following tables reflect selected operating information for our reporting segments for the three months ended March 31, 2016 and 2015 and include a reconciliation of Adjusted Property EBITDA to operating income (loss) and net income (loss): For the three months ended March 31, 2016 (In thousands, unaudited) Casino/Resort Operations Northern Nevada Rising Star Casino Resort Silver Slipper Casino & Hotel Corporate Consolidated Revenues, net $ 4,916 $ 12,246 $ 14,845 $ — $ 32,007 Adjusted Property EBITDA $ 767 $ 1,301 $ 2,661 $ — $ 4,729 Other operating costs and expenses: Depreciation and amortization 191 669 829 4 1,693 Corporate expenses — — — 1,161 1,161 Project development and acquisition costs — — — 287 287 Stock compensation — — — 57 57 Operating income (loss) 576 632 1,832 (1,509 ) 1,531 Non-operating expense: Interest expense — 53 4 1,705 1,762 Non-operating expense — 53 4 1,705 1,762 Income (loss) before income taxes 576 579 1,828 (3,214 ) (231 ) Provision for income taxes — 1 98 — 99 Net income (loss) $ 576 $ 578 $ 1,730 $ (3,214 ) $ (330 ) For the three months ended March 31, 2015 (In thousands, unaudited) Casino/Resort Operations Northern Nevada Rising Star Casino Resort Silver Slipper Casino & Hotel Corporate Consolidated Revenues, net $ 4,245 $ 11,115 $ 13,724 $ — $ 29,084 Adjusted Property EBITDA $ 363 $ 205 $ 2,696 $ — $ 3,264 Other operating costs and expenses: Depreciation and amortization 200 688 1,100 4 1,992 Impairments 80 — — 4 84 Corporate expenses — — — 1,123 1,123 Project development and acquisition costs — — — 4 4 Pre-opening — — 38 — 38 Stock compensation — — — 37 37 Operating income (loss) 83 (483 ) 1,558 (1,172 ) (14 ) Non-operating expense: Interest expense, net of amounts capitalized — 42 5 1,478 1,525 Other — (11 ) — (1 ) (12 ) Non-operating expense — 31 5 1,477 1,513 Income (loss) before income taxes 83 (514 ) 1,553 (2,649 ) (1,527 ) Provision for income taxes 2 2 219 5 228 Net income (loss) $ 81 $ (516 ) $ 1,334 $ (2,654 ) $ (1,755 ) Selected balance sheet data as of March 31, 2016 and December 31, 2015 follows: As of March 31, 2016 (In thousands, unaudited) Casino/Resort Operations Northern Nevada Rising Star Casino Resort Silver Slipper Casino & Hotel Corporate Consolidated Total assets $ 11,435 $ 35,957 $ 80,889 $ 10,142 $ 138,423 Property, equipment and capital lease, net 5,909 30,735 60,411 346 97,401 Goodwill 1,809 — 14,671 — 16,480 Liabilities 1,818 10,108 3,216 67,031 82,173 As of December 31, 2015 (In thousands) Casino/Resort Operations Northern Nevada Rising Star Casino Resort Silver Slipper Casino & Hotel Corporate Consolidated Total assets $ 12,105 $ 37,141 $ 82,621 $ 9,600 $ 141,467 Property, equipment and capital lease, net 6,098 31,391 61,150 343 98,982 Goodwill 1,809 — 14,671 — 16,480 Liabilities 1,834 10,034 3,389 69,687 84,944

ORGANIZATION (Details)

ORGANIZATION (Details)	Mar. 31, 2016Casino
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of casinos owned	3

BASIS OF PRESENTATION AND SIG26

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Details) - shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Accounting Policies [Abstract]
Antidilutive securities excluded from EPS calculation	1,563,834	1,243,834

PENDING ACQUISITION & SUBSEQU27

PENDING ACQUISITION & SUBSEQUENT EVENT (Details) - Bronco Billy's Casino and Hotel $ in Millions	Sep. 27, 2015option	May. 14, 2016USD ($)
Business Acquisition [Line Items]
Number of extension options | option	4
Length of extension option	30 days
Scenario, Forecast
Business Acquisition [Line Items]
Purchase price | $		$ 30

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 135,308	$ 135,205
Less accumulated depreciation	(37,907)	(36,223)
Property and equipment, net of accumulated depreciation	97,401	98,982
Land and improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	12,659	12,657
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	90,694	90,636
Furniture and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	31,932	31,899
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 23	$ 13

LONG-TERM DEBT (Details)

LONG-TERM DEBT (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Outstanding Principal	$ 65,000	$ 68,000
Unamortized Debt Issuance Costs	(1,024)	(1,358)
Long-term Debt, Net	63,976	66,642
Outstanding principal, current maturities	(4,500)	(6,000)
Unamortized debt issuance costs, current	0	0
Long-term debt, net, current maturities	(4,500)	(6,000)
Outstanding principal, excluding current maturities	60,500	62,000
Unamortized debt issuance costs, noncurrent	(1,024)	(1,358)
Long term debt, net, excluding current maturities	59,476	60,642
First Term Loan
Debt Instrument [Line Items]
Outstanding Principal	43,000	46,000
Unamortized Debt Issuance Costs	(559)	(777)
Long-term Debt, Net	42,441	45,223
Revolving Loan
Debt Instrument [Line Items]
Outstanding Principal	2,000	2,000
Unamortized Debt Issuance Costs	0	0
Long-term Debt, Net	2,000	2,000
Second Term Loan
Debt Instrument [Line Items]
Outstanding Principal	20,000	20,000
Unamortized Debt Issuance Costs	(465)	(581)
Long-term Debt, Net	$ 19,535	$ 19,419

LONG-TERM DEBT - First and Seco

LONG-TERM DEBT - First and Second Lien Credit Agreements (Detail Textuals)	3 Months Ended
	Mar. 31, 2016USD ($)
First Lien Credit Agreement | Construction Loan | Capital One Bank
Line Of Credit Facility [Line Items]
Maximum borrowing capacity	$ 10,000,000
First Lien Credit Agreement | Term Loan | Capital One Bank
Line Of Credit Facility [Line Items]
Quarterly principal payments due	$ 1,500,000
First Lien Credit Agreement | First Term Loan | Revolving Credit Facility | Interest Rate Cap
Line Of Credit Facility [Line Items]
Interest rate during period	4.75%
Interest rate floor	1.00%
Applicable margin rate	3.75%
Notional amount of interest rate cap	$ 14,750,000
Interest rate cap	1.50%
Second Lien Credit Agreement | Second Term Loan | Term Loan | Abc Funding LLC
Line Of Credit Facility [Line Items]
Maximum borrowing capacity	$ 20,000,000
Second Lien Credit Agreement | Second Term Loan | Term Loan | Abc Funding LLC | Minimum
Line Of Credit Facility [Line Items]
Interest rate during period	14.25%
Interest rate based on leverage ratio	13.25%
Second Lien Credit Agreement | Second Term Loan | Term Loan | Abc Funding LLC | Maximum
Line Of Credit Facility [Line Items]
Interest rate based on leverage ratio	15.25%
First Lien Credit Agreement | Term Loan
Line Of Credit Facility [Line Items]
Maximum borrowing capacity	$ 5,000,000

LONG-TERM DEBT Covenants (Detai

LONG-TERM DEBT Covenants (Details)	3 Months Ended
	Mar. 31, 2016
First Lien Credit Agreement | December 31, 2015 through and including March 30, 2016
Line Of Credit Facility [Line Items]
Debt instrument, covenant, leverage ratio, maximum	6.35
Debt instrument, covenant, first lien leverage ratio, maximum	4.35
Debt instrument, covenant, fixed charge coverage ratio, minimum	1.10
First Lien Credit Agreement | March 31, 2016 through and including June 29, 2016
Line Of Credit Facility [Line Items]
Debt instrument, covenant, leverage ratio, maximum	6.15
Debt instrument, covenant, first lien leverage ratio, maximum	4.15
Debt instrument, covenant, fixed charge coverage ratio, minimum	1.10
First Lien Credit Agreement | June 30, 2016 through and including September 29, 2016
Line Of Credit Facility [Line Items]
Debt instrument, covenant, leverage ratio, maximum	5.85
Debt instrument, covenant, first lien leverage ratio, maximum	4
Debt instrument, covenant, fixed charge coverage ratio, minimum	1.10
First Lien Credit Agreement | September 30, 2016 and thereafter
Line Of Credit Facility [Line Items]
Debt instrument, covenant, leverage ratio, maximum	5.50
Debt instrument, covenant, first lien leverage ratio, maximum	3.75
Debt instrument, covenant, fixed charge coverage ratio, minimum	1.10
Second Lien Credit Agreement | December 31, 2015 through and including March 30, 2016
Line Of Credit Facility [Line Items]
Debt instrument, covenant, leverage ratio, maximum	6.60
Debt instrument, covenant, first lien leverage ratio, maximum	4.60
Debt instrument, covenant, fixed charge coverage ratio, minimum	1
Second Lien Credit Agreement | March 31, 2016 through and including June 29, 2016
Line Of Credit Facility [Line Items]
Debt instrument, covenant, leverage ratio, maximum	6.40
Debt instrument, covenant, first lien leverage ratio, maximum	4.40
Debt instrument, covenant, fixed charge coverage ratio, minimum	1
Second Lien Credit Agreement | June 30, 2016 through and including September 29, 2016
Line Of Credit Facility [Line Items]
Debt instrument, covenant, leverage ratio, maximum	6.10
Debt instrument, covenant, first lien leverage ratio, maximum	4.25
Debt instrument, covenant, fixed charge coverage ratio, minimum	1
Second Lien Credit Agreement | September 30, 2016 and thereafter
Line Of Credit Facility [Line Items]
Debt instrument, covenant, leverage ratio, maximum	5.75
Debt instrument, covenant, first lien leverage ratio, maximum	4
Debt instrument, covenant, fixed charge coverage ratio, minimum	1

CAPITAL LEASE OBLIGATION (Detai

CAPITAL LEASE OBLIGATION (Detail Textuals)	Apr. 01, 2020USD ($)	Mar. 16, 2016USD ($)	Mar. 31, 2016USD ($)Room	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)
Rising Sun/Ohio County First, Inc | Rising Star Casino Resort
Capital Leased Assets [Line Items]
Number of hotel rooms | Room			104
Project's actual cost			$ 7,700,000
Lease purchase option			6,000,000
Option price at lease maturity			1
Monthly payment per month			$ 77,537
Rising Sun/Ohio County First, Inc | Rising Star Casino Resort | Scenario, Forecast
Capital Leased Assets [Line Items]
Monthly payment per month	$ 54,326			$ 63,537	$ 57,537	$ 56,537	$ 48,537
Rising Star Casino Resort
Capital Leased Assets [Line Items]
Lease extension term		4 years
Lease amendment, minimum capital improvement requirement		$ 1,000,000

INCOME TAXES (Detail Textuals)

INCOME TAXES (Detail Textuals) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 99	$ 228
Effective income tax rate for continuing operations	(43.00%)	(14.90%)
Federal statutory income tax rate	34.00%

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Detail Textuals)	Jan. 01, 2018USD ($)	Jan. 01, 2017USD ($)	Jun. 01, 2016USD ($)	Mar. 31, 2016USD ($)a	Dec. 31, 2004USD ($)a	Dec. 31, 2014USD ($)
Pending Litigation | Case Vs. Silver Slipper Casino And Hotel Contractor And Architect | Positive Outcome of Litigation
Commitments and Contingencies [Line Items]
Damages sought						$ 1,600,000
Grand Lodge Casino facility
Commitments and Contingencies [Line Items]
Lease includes base monthly payments				$ 125,000
Operating lease, capital expenditure requirement for gaming devices and equipment				1,500,000
Grand Lodge Casino facility | Hyatt Equities, L.L.C.
Commitments and Contingencies [Line Items]
Operating lease, capital expenditure requirement for tenant improvements				$ 3,500,000
Grand Lodge Casino facility | Scenario, Forecast
Commitments and Contingencies [Line Items]
Lease includes base monthly payments	$ 166,667	$ 145,833	$ 41,667
Lease termination clause period			6 months
Silver Slipper Casino | Land Lease Agreement
Commitments and Contingencies [Line Items]
Lease includes base monthly payments					$ 77,500
Percentage of gross gaming revenue					3.00%
Gross gaming revenue in excess of					$ 3,650,000
Purchase price of "Purchase Option" of land leases					$ 15,500,000
Retained interest in percentages of net income					3.00%
Retained interest in percentages of net income, term					10 years
New purchase price if change in ownership of Silver Slipper					$ 17,100,000
Option to purchase four acre portion of leased land					$ 2,000,000
Silver Slipper Casino | Land Lease Agreement | Protected Marshland
Commitments and Contingencies [Line Items]
Area of land subject to ground lease | a					31
Silver Slipper Casino | Land Lease Agreement | Casino Parcel
Commitments and Contingencies [Line Items]
Area of land subject to ground lease | a				7
Option to purchase four acre portion of leased land, area | a					4

SHARE-BASED BENEFIT PLANS (Deta

SHARE-BASED BENEFIT PLANS (Detail Textuals) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 57	$ 37
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs	$ 600
Weighted-average period of unrecognized compensation cost expected to be recognized	2 years 7 months 6 days
Intrinsic value of options outstanding	$ 200
Equity Incentive Plan 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant	987,285

SHARE-BASED BENEFIT PLANS - Sum

SHARE-BASED BENEFIT PLANS - Summarizes information related to our common stock options (Details) - Stock options	3 Months Ended
	Mar. 31, 2016$ / sharesshares
Number of Stock Options
Options outstanding at January 1, 2016 (in shares)	1,563,834
Granted (in shares)	0
Exercised (in shares)	0
Canceled/Forfeited (in shares)	0
Options outstanding at March 31, 2016 (in shares)	1,563,834
Options exercisable at March 31, 2016 (in shares)	379,324
Weighted Average Exercise Price
Options outstanding at January 1, 2016 (in dollars per share) | $ / shares	$ 1.33
Options outstanding at March 31, 2016 (in dollars per share) | $ / shares	1.33
Options exercisable at March 31, 2016 (in dollars per share) | $ / shares	$ 1.28

SEGMENT REPORTING - Selected st

SEGMENT REPORTING - Selected statement of operations data (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Segment Reporting Information [Line Items]
Revenues, net	$ 32,007	$ 29,084
Adjusted Property EBITDA	4,729	3,264
Depreciation and amortization	1,693	1,992
Impairment	0	84
Corporate expenses	1,161	1,123
Project development and acquisition costs	287	4
Preopening costs		38
Stock-based compensation	57	37
Operating income (loss)	1,531	(14)
Interest expense, net of amounts capitalized	1,762	1,525
Other	0	(12)
Nonoperating expense (income)	1,762	1,513
Loss before income taxes	(231)	(1,527)
Provision for income taxes	99	228
Net income (loss)	(330)	(1,755)
Operating Segments | Northern Nevada
Segment Reporting Information [Line Items]
Revenues, net	4,916	4,245
Adjusted Property EBITDA	767	363
Depreciation and amortization	191	200
Impairment		80
Corporate expenses	0	0
Project development and acquisition costs	0	0
Preopening costs		0
Stock-based compensation	0	0
Operating income (loss)	576	83
Interest expense, net of amounts capitalized	0	0
Other		0
Nonoperating expense (income)	0	0
Loss before income taxes	576	83
Provision for income taxes	0	2
Net income (loss)	576	81
Operating Segments | Casino/Resort Operations | Rising Star Casino Resort
Segment Reporting Information [Line Items]
Revenues, net	12,246	11,115
Adjusted Property EBITDA	1,301	205
Depreciation and amortization	669	688
Impairment		0
Corporate expenses	0	0
Project development and acquisition costs	0	0
Preopening costs		0
Stock-based compensation	0	0
Operating income (loss)	632	(483)
Interest expense, net of amounts capitalized	53	42
Other		(11)
Nonoperating expense (income)	53	31
Loss before income taxes	579	(514)
Provision for income taxes	1	2
Net income (loss)	578	(516)
Operating Segments | Casino/Resort Operations | Silver Slipper Casino
Segment Reporting Information [Line Items]
Revenues, net	14,845	13,724
Adjusted Property EBITDA	2,661	2,696
Depreciation and amortization	829	1,100
Impairment		0
Corporate expenses	0	0
Project development and acquisition costs	0	0
Preopening costs		38
Stock-based compensation	0	0
Operating income (loss)	1,832	1,558
Interest expense, net of amounts capitalized	4	5
Other		0
Nonoperating expense (income)	4	5
Loss before income taxes	1,828	1,553
Provision for income taxes	98	219
Net income (loss)	1,730	1,334
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Revenues, net	0	0
Adjusted Property EBITDA	0	0
Depreciation and amortization	4	4
Impairment		4
Corporate expenses	1,161	1,123
Project development and acquisition costs	287	4
Preopening costs		0
Stock-based compensation	57	37
Operating income (loss)	(1,509)	(1,172)
Interest expense, net of amounts capitalized	1,705	1,478
Other		(1)
Nonoperating expense (income)	1,705	1,477
Loss before income taxes	(3,214)	(2,649)
Provision for income taxes	0	5
Net income (loss)	$ (3,214)	$ (2,654)

SEGMENT REPORTING - Selected ba

SEGMENT REPORTING - Selected balance sheet data (Details 1) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Total assets	$ 138,423	$ 141,467
Property, equipment and capital lease, net	97,401	98,982
Goodwill	16,480	16,480
Liabilities	82,173	84,944
Operating Segments | Northern Nevada
Segment Reporting Information [Line Items]
Total assets	11,435	12,105
Property, equipment and capital lease, net	5,909	6,098
Goodwill	1,809	1,809
Liabilities	1,818	1,834
Operating Segments | Casino/Resort Operations | Rising Star Casino Resort
Segment Reporting Information [Line Items]
Total assets	35,957	37,141
Property, equipment and capital lease, net	30,735	31,391
Goodwill	0	0
Liabilities	10,108	10,034
Operating Segments | Casino/Resort Operations | Silver Slipper Casino
Segment Reporting Information [Line Items]
Total assets	80,889	82,621
Property, equipment and capital lease, net	60,411	61,150
Goodwill	14,671	14,671
Liabilities	3,216	3,389
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Total assets	10,142	9,600
Property, equipment and capital lease, net	346	343
Goodwill	0	0
Liabilities	$ 67,031	$ 69,687