Full House Resorts (FLL) 10-Q6 Aug 242024 Q2 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2024	Aug. 02, 2024
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	1-32583
Entity Registrant Name	FULL HOUSE RESORTS INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-3391527
Entity Address, Address Line One	One Summerlin, 1980 Festival Plaza Drive, Suite 680
Entity Address, City or Town	Las Vegas
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89135
City Area Code	702
Local Phone Number	221-7800
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	FLL
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		34,799,896
Entity Central Index Key	0000891482
Current Fiscal Year End Date	--12-31
Document Fiscal Year End	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues
Net revenues	$ 73,492	$ 59,382	$ 143,416	$ 109,488
Operating costs and expenses
Selling, general and administrative	25,285	21,577	50,220	39,806
Project development costs	3	17	3	24
Preopening costs	757	1,086	2,420	11,583
Depreciation and amortization	10,326	8,155	20,951	14,014
Loss on disposal of assets			18	0
Total operating costs and expenses	71,177	58,788	141,707	115,880
Operating income (loss)	2,315	594	1,709	(6,392)
Other (expense) income
Interest expense, net	(11,023)	(5,633)	(21,273)	(10,452)
Gain on insurance settlement			0	355
Total other (expense) income	(11,023)	(5,633)	(21,273)	(10,097)
Loss before income taxes	(8,708)	(5,039)	(19,564)	(16,489)
Income tax (benefit) provision	(79)	561	337	526
Net loss	$ (8,629)	$ (5,600)	$ (19,901)	$ (17,015)
Basic loss per share (in dollars per share)	$ (0.25)	$ (0.16)	$ (0.57)	$ (0.49)
Diluted loss per share (in dollars per share)	$ (0.25)	$ (0.16)	$ (0.57)	$ (0.49)
Casino
Revenues
Net revenues	$ 54,685	$ 45,359	$ 106,358	$ 81,346
Operating costs and expenses
Costs and expenses	20,719	16,990	41,294	30,334
Food and beverage
Revenues
Net revenues	10,403	8,673	20,172	16,333
Operating costs and expenses
Costs and expenses	10,714	9,030	20,474	16,485
Hotel
Revenues
Net revenues	3,742	2,348	6,594	4,492
Operating costs and expenses
Costs and expenses	2,383	1,228	4,546	2,447
Other operations, including contracted sports wagering
Revenues
Net revenues	4,662	3,002	10,292	7,317
Operating costs and expenses
Costs and expenses	$ 990	$ 705	$ 1,781	$ 1,187

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets
Cash and equivalents	$ 31,061	$ 36,155
Restricted cash	13,636	37,639
Accounts receivable, net of provision for credit losses of $1,582 and $1,189	5,512	5,332
Inventories	2,015	1,839
Prepaid expenses and other	4,312	3,674
Total current assets	56,536	84,639
Other long-term assets
Property and equipment, net	460,724	457,907
Operating lease right-of-use assets, net	43,074	44,704
Finance lease right-of-use assets, net	1,647	2,318
Goodwill	21,286	21,286
Other intangible assets, net of accumulated amortization of $377 and $8,140	89,335	76,271
Deposits and other	1,316	1,332
Total Assets	673,918	688,457
Current liabilities
Accounts payable	12,009	12,794
Income taxes payable		489
Construction payable	11,533	20,667
Accrued payroll and related	7,694	4,097
Accrued interest	14,055	14,248
Other accrued expenses and current liabilities	18,631	19,779
Current portion of operating lease obligations	4,298	4,784
Current portion of finance lease obligations	1,768	1,694
Total current liabilities	69,988	78,552
Operating lease obligations, net of current portion	39,219	40,248
Finance lease obligations, net of current portion	1,801	2,705
Other long-term liabilities, net of current portion	29,835	16,075
Long-term debt, net	466,638	465,153
Deferred income taxes, net	2,021	1,684
Contract liabilities, net of current portion	4,962	6,192
Total liabilities	614,464	610,609
Commitments and contingencies (Note 6)
Stockholders' equity
Common stock, $0.0001 par value, 100,000,000 shares authorized; 35,302,549 and 35,302,549 shares issued and 34,799,896 and 34,590,150 shares outstanding	4	4
Additional paid-in capital	114,580	113,329
Treasury stock, 502,653 and 712,399 common shares	(613)	(869)
Accumulated deficit	(54,517)	(34,616)
Total stockholders' equity	59,454	77,848
Total liabilities and stockholders' equity	$ 673,918	$ 688,457

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)
Accounts receivable reserves	$ 1,582	$ 1,189
Intangible assets accumulated amortization	$ 377	$ 8,140
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	35,302,549	35,302,549
Common stock, shares outstanding (in shares)	34,799,896	34,590,150
Treasury stock, common shares (in shares)	502,653	712,399

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Common Stock	Additional Paid-in Capital	Treasury Stock	Accumulated Deficit	Total
Balance at Dec. 31, 2022	$ 4	$ 110,590	$ (1,091)	$ (9,712)	$ 99,791
Balance (in shares) at Dec. 31, 2022	35,302		895
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Options exercised		12	$ 5		17
Options exercised (in shares)			(4)
Stock-based compensation		748			748
Net loss				(11,415)	(11,415)
Balance at Mar. 31, 2023	$ 4	111,350	$ (1,086)	(21,127)	89,141
Balance (in shares) at Mar. 31, 2023	35,302		891
Balance at Dec. 31, 2022	$ 4	110,590	$ (1,091)	(9,712)	99,791
Balance (in shares) at Dec. 31, 2022	35,302		895
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss					(17,015)
Balance at Jun. 30, 2023	$ 4	111,940	$ (884)	(26,727)	84,333
Balance (in shares) at Jun. 30, 2023	35,302		725
Balance at Mar. 31, 2023	$ 4	111,350	$ (1,086)	(21,127)	89,141
Balance (in shares) at Mar. 31, 2023	35,302		891
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Options exercised and restricted stocks vested		(65)	$ 202		137
Options exercised and restricted stocks vested (in shares)			(166)
Stock-based compensation		655			655
Net loss				(5,600)	(5,600)
Balance at Jun. 30, 2023	$ 4	111,940	$ (884)	(26,727)	84,333
Balance (in shares) at Jun. 30, 2023	35,302		725
Balance at Dec. 31, 2023	$ 4	113,329	$ (869)	(34,616)	77,848
Balance (in shares) at Dec. 31, 2023	35,302		712
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation		709			709
Net loss				(11,272)	(11,272)
Balance at Mar. 31, 2024	$ 4	114,038	$ (869)	(45,888)	67,285
Balance (in shares) at Mar. 31, 2024	35,302		712
Balance at Dec. 31, 2023	$ 4	113,329	$ (869)	(34,616)	77,848
Balance (in shares) at Dec. 31, 2023	35,302		712
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss					(19,901)
Balance at Jun. 30, 2024	$ 4	114,580	$ (613)	(54,517)	59,454
Balance (in shares) at Jun. 30, 2024	35,302		503
Balance at Mar. 31, 2024	$ 4	114,038	$ (869)	(45,888)	67,285
Balance (in shares) at Mar. 31, 2024	35,302		712
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Options exercised and restricted stocks vested		(198)	$ 256		58
Options exercised and restricted stocks vested (in shares)			(209)
Stock-based compensation		740			740
Net loss				(8,629)	(8,629)
Balance at Jun. 30, 2024	$ 4	$ 114,580	$ (613)	$ (54,517)	$ 59,454
Balance (in shares) at Jun. 30, 2024	35,302		503

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net loss	$ (19,901)	$ (17,015)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	20,951	14,014
Amortization of debt issuance costs, discounts and premiums	1,485	1,291
Non-cash change in ROU operating lease assets	1,631	1,997
Stock-based compensation	1,449	1,403
Loss on disposal of assets	18	0
Provision for (recovery of) credit losses	538	(33)
Gain on insurance settlement	0	(355)
Other operating activities	0	773
Deferred income taxes	337	526
Increases and decreases in operating assets and liabilities:
Accounts receivable	(718)	(2,021)
Prepaid expenses, inventories and other	(814)	(133)
Income taxes payable	(489)	0
Operating lease liabilities	(1,516)	(1,933)
Contract liabilities	(4,060)	18
Accounts payable and other liabilities	6,812	3,170
Net cash provided by operating activities	5,723	1,702
Cash flows from investing activities:
Capital expenditures	(33,939)	(89,309)
Proceeds from insurance settlement related to property damage	0	355
Acquisition of intangible assets	(1)	(50,250)
Other	15	0
Net cash used in investing activities	(33,925)	(139,204)
Cash flows from financing activities:
Proceeds from Senior Secured Notes due 2028 borrowings	0	40,000
Payment of debt discount and issuance costs	0	(6,490)
Borrowings under revolving credit facility	3,000	36,000
Repayment of revolving credit facility borrowings	(3,000)	(9,000)
Repayment of finance lease obligations	(830)	(759)
Proceeds from exercise of stock options	58	154
Other	(123)	0
Net cash (used in) provided by financing activities	(895)	59,905
Net decrease in cash, cash equivalents and restricted cash	(29,097)	(77,597)
Cash, cash equivalents and restricted cash, beginning of period	73,794	191,176
Cash, cash equivalents and restricted cash, end of period	44,697	113,579
Supplemental Cash Flow Disclosure:
Cash paid for interest, net of amounts capitalized	19,599	10,721
Cash paid for income taxes	489
Supplemental Schedule of Non-Cash Investing and Financing Activities:
Payables and accruals incurred for capital expenditures	8,344	25,949
Accrued liability related to asset acquisition	$ 13,090
Operating leases		30,178
Operating leases		2,341
Financing leases		$ (207)

ORGANIZATION

ORGANIZATION	6 Months Ended
ORGANIZATION	Jun. 30, 2024
ORGANIZATION
ORGANIZATION	1. ORGANIZATION Organization. The Company currently operates seven casinos: six on real estate that we own or lease and one located within a hotel owned by a third party. In February 2023, we opened our temporary American Place facility, which we are permitted to operate until August 2027; we have begun the design work for the permanent gaming resort facility that we plan to build on adjoining land. In December 2023, we began the phased opening of our newest property, Chamonix Casino Hotel (“Chamonix”), located adjacent to our existing Bronco Billy’s Casino in Cripple Creek, Colorado. Additionally, we benefit from seven permitted sports wagering “skins” – three in Colorado, three in Indiana, and one in Illinois. For additional information about the Company’s segments, see Note 8 The following table presents selected information concerning our segments: Segments and Properties Locations Midwest & South American Place * Waukegan, IL (northern suburb of Chicago) Silver Slipper Casino and Hotel Hancock County, MS (near New Orleans) Rising Star Casino Resort Rising Sun, IN (near Cincinnati) West Bronco Billy’s Casino and Chamonix Casino Hotel * Cripple Creek, CO (near Colorado Springs) Grand Lodge Casino Incline Village, NV Stockman’s Casino Fallon, NV (one hour east of Reno) Contracted Sports Wagering One active sports wagering website (“skins”), plus two others that are currently idle Colorado One active sports wagering website (“skins”), plus two others that are currently idle Indiana One active sports wagering website (“skin”), commenced in August 2023 Illinois __________ * The temporary American Place facility and Chamonix opened on February 17 and December 27, 2023, respectively.

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	Jun. 30, 2024
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	2. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation. The interim condensed 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 annualized results for an entire year. The condensed consolidated financial statements include the accounts of Full House and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Fair Value and the Fair Value Input Hierarchy. GAAP categorizes the inputs used for fair value into a three-level hierarchy: ● Level 1: Observable inputs, such as quoted prices in active markets for identical assets or liabilities; ● Level 2: Comparable inputs other than quoted prices that are observable for similar assets or liabilities in less active markets; and ● Level 3: Unobservable inputs which may include metrics that market participants would use to estimate values, such as revenue and earnings multiples and relative rates of return. Methods and assumptions used to estimate the fair value of financial instruments are affected by the duration of the instruments and other factors used by market participants to estimate value. The carrying amounts for cash and equivalents, restricted cash, accounts receivable, and accounts payable approximate their estimated fair value because of the short durations of the instruments and inconsequential rates of interest. Cash Equivalents and Restricted Cash. Restricted cash balances consist of funds placed into an interest-bearing account to fund the completion of the Chamonix construction project, in accordance with the Company’s debt covenants. Accounts Receivable and Credit Risk. (In thousands) June 30, December 31, 2024 2023 Casino $ 321 $ 343 Trade Accounts 3,059 3,479 Other Operations, excluding Contracted Sports Wagering 166 185 Contracted Sports Wagering 2,930 1,932 Other 618 582 7,094 6,521 Less: Provision for credit losses (1,582) (1,189) $ 5,512 $ 5,332 The following table shows the movement in the provision for credit losses recognized for accounts receivable that occurred during the period: (In thousands) 2024 2023 Balance at January 1 $ 1,189 $ 249 Current period provision for (recovery of) credit losses 538 (33) Write-offs (145) — Balance at June 30 $ 1,582 $ 216 At June 30, 2024, estimated loss reserves for the current year include an additional provision of $0.5 million in connection with two online sports wagering agreements, which remain active in Colorado and Indiana. In July 2024, each of the Company’s respective subsidiaries entered into amended agreements with the contracted party to settle such overdue receivables, which included settlement provisions for the outstanding receivable balances (see Note 9 Management regularly evaluates the adequacy of the Company’s recorded reserves. As of June 30, 2024, we believe that no significant concentrations of credit risk existed for which a reserve had not already been recorded. Other Intangible Assets. Note 6 The long-term obligation for the Company’s gaming license in Illinois consisted of the following, as discussed above: (In thousands) June 30, December 31, 2024 2023 IGB Reconciliation Fee* $ 39,525 $ 22,092 Less: Amount representing interest (11,530) (7,187) Present value of IGB Reconciliation Fee $ 27,995 $ 14,905 __________ * Calculated based upon gaming revenues generated through June 2024. This one-time fee will be paid in six annual installments beginning in February 2026. Additionally, during the second quarter of 2024, the Company retired $7.8 million of fully amortized intangible assets, which consisted primarily of acquired player loyalty programs. This resulted in net accumulated amortization of $0.4 million at June 30, 2024, compared to $8.1 million at December 31, 2023. Revenue Recognition: Accrued Club Points and Customer Loyalty Programs: Operating Revenues and Related Costs and Expenses. The transaction price for a casino wager is the difference between gaming wins and losses, not the total amount wagered. As such wagers have similar characteristics, the Company accounts for its gaming transactions on a portfolio basis by recognizing net win per gaming day versus on an individual basis. The Company sometimes provides discretionary complimentary goods and services (“discretionary comps”). For these types of transactions, the Company allocates revenue to the department providing the complimentary goods or services based upon its estimated standalone selling price, offset by a reduction in casino revenues. Many of the Company’s casino customers choose to earn points under its customer loyalty programs. As points are accrued, the Company defers a portion of its casino revenue based on the estimated standalone value of loyalty points being earned by the customer. The standalone value of loyalty points is derived from the retail value of food, beverages, hotel rooms, and other goods or services for which such points may be redeemed. A liability related to these customer loyalty points is recorded, net of estimated breakage and other factors, until the customer redeems these points for various loyalty program benefits, primarily for “free casino play,” complimentary dining, or hotel stays, among others, depending on each property’s specific offers. Upon redemption, the related revenue is recognized at retail value within the department providing the goods or services. Unredeemed points are forfeited if the customer becomes and remains inactive for a specified period of time. Such liabilities were approximately $0.9 million at June 30, 2024 and $0.8 million at December 31, 2023, and these amounts are included in “other accrued expenses and current liabilities” on the condensed consolidated balance sheets. Revenue for food and beverage, hotel, and other revenue transactions, as described in “Other Revenues” below, includes the retail value of (i) discretionary comps and (ii) comps provided in return for redemption of loyalty points. Additionally, the Company may collect deposits in advance for future hotel reservations or entertainment, among other services, which represent obligations of the Company until the service is provided to the customer. Deferred Revenues: Market Access Fees from Sports Wagering Agreements. Indiana. Note 9 Colorado. Note 9 Illinois. In addition to the market access fees, deferred revenue includes annual prepayments of contracted revenue. With the July 2024 amendment of two Sports Agreements, the prepayment of contracted revenue is now required in all of the Company’s active Sports Agreements. Deferred revenues consisted of the following, as discussed above: (In thousands) June 30, December 31, Balance Sheet Location 2024 2023 Deferred revenue, current Other accrued expenses and current liabilities $ 3,346 $ 6,175 Deferred revenue, net of current portion Contract liabilities, net of current portion 4,962 6,192 $ 8,308 $ 12,367 Other Revenues. Revenue by Source. Note 8 Income Taxes. Reclassifications. Earnings (Loss) Per Share. Leases. For material leases with terms greater than a year, the Company records right-of-use (“ROU”) assets and lease liabilities on the balance sheet, as measured on a discounted basis. For finance leases, the Company recognizes interest expense associated with the lease liability, as well as depreciation (or amortization) expense associated with the ROU asset, depending on whether those ROU assets are expected to transfer to the Company upon lease expiration. If ownership of a finance lease ROU asset is expected to transfer to the Company upon lease expiration, then it is included with the Company’s property and equipment; other qualifying finance lease ROU assets, based on other classifying criteria under Accounting Standards Codification 842 (“ASC 842”), are disclosed separately as “Finance Lease Right-of-Use Assets, Net.” For operating leases, the Company recognizes straight-line rent expense. The Company does not recognize ROU assets or lease liabilities for leases with a term of 12 months or less. However, costs related to short-term leases with terms greater than one month, which the Company deems material, are disclosed as a component of lease expenses when applicable. Additionally, the Company accounts for new and existing leases containing both lease and non-lease components (“embedded leases”) together as a single lease component Finance and operating lease ROU assets and liabilities are recognized based on the present value of future minimum lease payments over the expected lease term at commencement, plus any qualifying initial direct costs paid prior to commencement for ROU assets. As the implicit rate is not determinable in most of the Company’s leases, management uses the Company’s incremental borrowing rate as estimated by third-party valuation specialists in determining the present value of future payments based on the information available at the commencement date and/or modification date. The expected lease terms include options to extend or terminate the lease when it is reasonably certain that the Company will exercise such options. Lease expense for minimum lease payments is recognized on a straight-line basis over the expected lease term for operating leases. For finance leases, the ROU asset depreciates/amortizes on a straight-line basis over the shorter of the lease term or useful life of the ROU asset as applicable, and the lease liability accretes interest based on the interest method using the discount rate determined at lease commencement. Preopening costs. Debt Issuance Costs and Debt Discounts/Premiums. Accounting Pronouncements: ASU 2023-09, Income Taxes, Topic 740, Improvements to Income Tax Disclosures (“Update 2023-09”). ASU 2023-07, Segment Reporting, Topic 280, Improvements to Reportable Segment Disclosures (“Update 2023-07”). The Company believes that there are no other recently-issued accounting standards not yet effective that are currently likely to have a material impact on its financial statements.

LEASES

LEASES	6 Months Ended
LEASES	Jun. 30, 2024
LEASES
LEASES	3. LEASES The Company has no material leases in which it is the lessor. As lessee, the Company has finance leases for a hotel and certain equipment, as well as operating leases for land, casino and office space, equipment, and buildings. The Company’s remaining lease terms, including extensions, range from one month to approximately 98 years. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants, but the land leases at Silver Slipper and American Place do include contingent rent, as further discussed below. Operating Leases Waukegan Ground Lease through February 2122 and Option to Purchase. The Company has the right to purchase the City-Owned Parcel at any time during the term of the Ground Lease for $30 million. If it does so prior to the opening of the permanent American Place facility, then it must continue to pay rent due to the City under the Ground Lease until the permanent casino is open. Silver Slipper Casino Land Lease through April 2058 and Option to Purchase. Through October 1, 2027, the Company may buy out the lease for $15.5 million, plus a seller-retained interest in Silver Slipper Casino and Hotel’s operations of 3% of net income (as defined) for 10 years following the purchase date. Bronco Billy’s / Chamonix Lease through January 2035 and Option to Purchase. three-year The Company’s related ROU asset and liability balances on its balance sheet factor in all renewal terms through January 2035, as the Company is deemed likely to exercise each renewal unless it exercises its purchase buyout right. Grand Lodge Casino Lease through December 2024. Note 4 12-month The current annual rent of $2.0 million is applicable through December 2024. In July 2024, the lease was further amended to extend the current term through December 31, 2034 and, additionally, permits the lessor to terminate the lease early with six months’ notice for a significant renovation of the property (see Note 9 Corporate Office Lease through January 2025. Finance Lease Rising Star Casino Hotel Lease through October 2027 and Option to Purchase. The components of lease expenses are as follows: (In thousands) Three Months Ended Six Months Ended Classification within June 30, June 30, Lease Costs Statement of Operations 2024 2023 2024 2023 Operating leases: Fixed/base rent Selling, General and Administrative Expenses $ 1,964 $ 2,170 $ 3,927 $ 3,962 Short-term payments Selling, General and Administrative Expenses — — — 22 Variable payments Selling, General and Administrative Expenses 316 349 579 654 Finance leases: Amortization of leased assets Depreciation and Amortization 374 348 749 701 Interest on lease liabilities Interest Expense, Net 70 109 149 220 Total lease costs $ 2,724 $ 2,976 $ 5,404 $ 5,559 Leases recorded on the balance sheet consist of the following: (In thousands) June 30, December 31, Leases Balance Sheet Classification 2024 2023 Assets Operating lease assets Operating Lease Right-of-Use Assets, Net $ 43,074 $ 44,704 Finance lease assets Property and Equipment, Net (1) 4,331 4,409 Finance lease assets Finance Lease Right-of-Use Assets, Net (2) 1,647 2,318 Total lease assets $ 49,052 $ 51,431 Liabilities Current Operating Current Portion of Operating Lease Obligations $ 4,298 $ 4,784 Finance Current Portion of Finance Lease Obligations 1,768 1,694 Noncurrent Operating Operating Lease Obligations, Net of Current Portion 39,219 40,248 Finance Finance Lease Obligations, Net of Current Portion 1,801 2,705 Total lease liabilities $ 47,086 $ 49,431 __________ (1) Finance lease assets are recorded net of accumulated amortization of $2.8 million for June 30, 2024 and $2.7 million for December 31, 2023. (2) These finance lease assets are recorded separately from Property and Equipment due to meeting qualifying classification criteria under ASC 842, but ownership of such assets is not expected to transfer to the Company upon term expiration. Additionally, amortization of these assets are expensed over the duration of the lease term or the assets’ estimated useful lives, whichever is earlier. Maturities of lease liabilities as of June 30, 2024 are summarized as follows: (In thousands) Operating Finance Years Ending December 31, Leases Leases 2024 (excluding the six months ended June 30, 2024) $ 3,924 $ 978 2025 5,722 1,721 2026 4,864 652 2027 4,515 489 2028 4,515 — Thereafter 312,066 — Total future minimum lease payments 335,606 3,840 Less: Amount representing interest (292,089) (271) Present value of lease liabilities 43,517 3,569 Less: Current lease obligations (4,298) (1,768) Long-term lease obligations $ 39,219 $ 1,801 Other information related to lease term and discount rate is as follows: June 30, December 31, Lease Term and Discount Rate 2024 2023 Weighted-average remaining lease term Operating leases 69.8 years 67.9 years Finance leases 2.3 years 2.8 years Weighted-average discount rate Operating leases 10.92 % 10.91 % Finance leases 7.19 % 7.46 % Supplemental cash flow information related to leases is as follows: (In thousands) Six Months Ended June 30, Cash paid for amounts included in the measurement of lease liabilities: 2024 2023 Operating cash flows for operating leases $ 3,812 $ 3,898 Operating cash flows for finance leases $ 149 $ 220 Financing cash flows for finance leases $ 830 $ 759

LONG-TERM DEBT

LONG-TERM DEBT	6 Months Ended
LONG-TERM DEBT	Jun. 30, 2024
LONG-TERM DEBT.
LONG-TERM DEBT	4 . LONG-TERM DEBT Long-term debt consists of the following: (In thousands) June 30, December 31, 2024 2023 Revolving Credit Facility due 2026 $ 27,000 $ 27,000 8.25% Senior Secured Notes due 2028 450,000 450,000 Less: Unamortized debt issuance costs and discounts/premiums, net (10,362) (11,847) $ 466,638 $ 465,153 Senior Secured Notes due 2028. On February 7, 2022, the Company closed a private offering for an additional $100.0 million of Senior Secured Notes due 2028, which sold at a price of 102.0% of such principal amount. Proceeds from this sale were used: (i) to develop, equip and open the temporary American Place facility, which the Company intends to operate while it designs and constructs its permanent facility, (ii) to pay the transaction fees and expenses of such offer and sale, and (iii) for general corporate purposes. The additional notes from this sale were issued pursuant to the indenture, dated as of February 12, 2021 (the “Original Indenture”), to which the Company issued the $310.0 million of 2028 Notes described above. In connection with the issuance of the additional notes in February 2022, the Company and the subsidiary guarantors party to the Original Indenture also entered into three Supplemental Indentures with Wilmington Trust, National Association, as trustee. On February 21, 2023, the Company issued an additional $40.0 million of senior secured notes (the “Additional Notes”), thereby increasing the outstanding borrowing under the 2028 Notes to $450.0 million (collectively, the “Notes”). Related to the issuance of the Additional Notes, the Company further amended the indenture governing the Notes (collectively, the “Amended Indenture”) and amended its revolving credit facility. Proceeds from the offering of the Additional Notes, net of related expenses and discounts, were approximately $34 million and were used: (i) to open American Place, including the payment of related Illinois gaming license fees in March 2023, and (ii) for general corporate purposes. The Additional Notes are essentially identical to the 2028 Notes, as they are treated as a single series of senior secured debt securities with the 2028 Notes and also as a single class for all purposes under the Amended Indenture, including, without limitation, waivers, amendments, redemptions and offers to purchase. The Notes bear interest at a fixed rate of 8.25% per year and mature on February 15, 2028. There is no mandatory debt amortization prior to the maturity date. Interest on the Notes is payable on February 15 and August 15 of each year. The Notes are guaranteed, jointly and severally (such guarantees, the “Guarantees”), by each of the Company’s restricted subsidiaries (collectively, the “Guarantors”). The Notes and the Guarantees are the Company’s and the Guarantors’ general senior secured obligations, subject to the terms of the Collateral Trust Agreement (as defined in the Amended Indenture), ranking senior in right of payment to all of the Company’s and the Guarantors’ existing and future debt that is expressly subordinated in right of payment to the Notes and the Guarantees, if any. The Notes and the Guarantees will rank equally in right of payment with all of the Company’s and the Guarantors’ existing and future senior debt. The Notes contain representations and warranties, covenants, and restrictions on dividends customary for notes of this type. Mandatory prepayments, in whole or in part, of the Notes will be required upon the occurrence of certain events, including sales of certain assets (unless such net proceeds are reinvested in the business), upon certain changes of control, or should the Company have certain unused funds in the construction disbursement account following the completion of Chamonix. The Company may redeem some or all of the Notes for cash at the following redemption prices: Redemption Periods Percentage Premium February 15, 2024 to February 14, 2025 104.125 % February 15, 2025 to February 14, 2026 102.063 % February 15, 2026 and Thereafter 100.000 % Revolving Credit Facility due 2026. On February 21, 2023, the Company entered into a Second Amendment to Credit Agreement with Capital One, which, among other things, increased the amount of additional indebtedness permitted under the Company’s Credit Agreement from $25.0 million to $40.0 million (collectively, the “Credit Facility”). Such amendment permitted the issuance of the Additional Notes, as described above. The interest rate per annum applicable to loans under the Credit Facility is currently, at the Company’s option, either (i) SOFR plus a margin equal to 3.00% and a Term SOFR adjustment of 0.15%, or (ii) a base rate plus a margin equal to 2.00%. Terms regarding the annual commitment fee, customary letter of credit fees, and repayment date of March 31, 2026, remain unchanged from the original Credit Agreement, dated as of March 31, 2021. The Credit Facility is equally and ratably secured by the same assets and guarantees securing the Notes. The Company may make prepayments of any amounts outstanding under the Credit Facility (without any reduction of the revolving commitments) in whole or in part at any time without penalty. The Credit Facility contains a number of negative covenants that, subject to certain exceptions, are substantially similar to the covenants contained in the Notes. The Credit Facility also requires compliance with a financial covenant as of the last day of each fiscal quarter, such that Adjusted EBITDA (as defined) for the trailing 12-month period must equal or exceed the utilized portion of the Credit Facility, if drawn. As of June 30, 2024, the Company was in compliance with this financial covenant and $27.0 million of borrowings were outstanding under the Credit Facility. Fair Value of Long-Term Debt.

INCOME TAXES

INCOME TAXES	6 Months Ended
INCOME TAXES	Jun. 30, 2024
INCOME TAXES
INCOME TAXES	5. INCOME TAXES The Company’s effective income tax rates for the three and six months ended June 30, 2024 were 0.9% and (1.7%), respectively, compared to effective income tax rates of (11.1%) and (3.2%) for the corresponding prior-year periods. The changes in the effective income tax rates were primarily due to the Company’s projections for pre-tax book income in 2024, the effects of tax amortization on indefinite-lived intangibles in 2024, valuation allowances, and certain permanent differences between tax and financial reporting purposes. The Company’s income tax provision or benefit for interim periods has been determined using an estimate of its annual effective tax rate (“AETR”), adjusted for discrete items. The Company continues to assess the realizability of deferred tax assets (“DTAs”) and concluded that it has not met the “more-likely-than-not” threshold. As of June 30, 2024, the Company continues to provide a valuation allowance against its DTAs that cannot be offset by existing deferred tax liabilities. In accordance with Accounting Standards Codification 740 (“ASC 740”), this assessment has taken into consideration the jurisdictions in which these DTAs reside. The valuation allowance against DTAs has no effect on the actual taxes paid or owed by the Company.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
COMMITMENTS AND CONTINGENCIES	Jun. 30, 2024
COMMITMENTS AND CONTINGENCIES.
COMMITMENTS AND CONTINGENCIES.	6. COMMITMENTS AND CONTINGENCIES Litigation The Company is party to a number of pending legal proceedings related to matters that occurred in the normal course of business. Management does not expect that the outcome of any such proceedings, either individually or in the aggregate, will have a material effect on the Company’s financial position, results of operations and cash flows. Contingent Gaming License Fees in Illinois As required for its gaming licensure at American Place, the Company is required to make a “Reconciliation Payment” to the State of Illinois. The Reconciliation Payment is calculated three years after the commencement of gaming operations in Illinois in an amount equal to 75% of the adjusted gross receipts for the most lucrative trailing 12-month period six years

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE	6 Months Ended
EARNINGS (LOSS) PER SHARE	Jun. 30, 2024
EARNINGS (LOSS) PER SHARE
EARNINGS (LOSS) PER SHARE	7. EARNINGS (LOSS) PER SHARE The table below reconciles basic and diluted loss per share of common stock: (In thousands) Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Numerator: Net loss ─ basic $ (8,629) $ (5,600) $ (19,901) $ (17,015) Net loss ─ diluted $ (8,629) $ (5,600) $ (19,901) $ (17,015) Denominator: Weighted-average common shares ─ basic 34,710 34,496 34,650 34,453 Potential dilution from share-based awards — — — — Weighted-average common and common share equivalents ─ diluted 34,710 34,496 34,650 34,453 Anti-dilutive share-based awards excluded from the calculation of diluted loss per share 4,408 4,079 4,310 3,962

SEGMENT REPORTING AND DISAGGREG

SEGMENT REPORTING AND DISAGGREGATED REVENUE	6 Months Ended
SEGMENT REPORTING AND DISAGGREGATED REVENUE	Jun. 30, 2024
SEGMENT REPORTING AND DISAGGREGATED REVENUE
SEGMENT REPORTING AND DISAGGREGATED REVENUE	8. SEGMENT REPORTING AND DISAGGREGATED REVENUE The Company manages its reporting segments based on geographic regions within the United States and type of income. The Company’s management views the regions where each of its casino resorts are located as reportable segments, in addition to its contracted sports wagering segment. Reportable segments are aggregated based on geography, economic characteristics, types of customers, types of services and products provided, the regulatory environments in which they operate, and their management and reporting structure. The Company utilizes Adjusted Segment EBITDA as the measure of segment profitability in assessing 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, preopening expenses, certain impairment charges, asset write-offs, recoveries, gain (loss) from asset disposals, project development and acquisition costs, non-cash share-based compensation expense, and corporate-related costs and expenses that are not allocated to each segment. The following tables present the Company’s segment information: (In thousands) Three Months Ended June 30, 2024 Contracted Sports Midwest & South West Wagering Total Revenues Casino $ 43,051 $ 11,634 $ — $ 54,685 Food and beverage 8,683 1,720 — 10,403 Hotel 2,126 1,616 — 3,742 Other operations, including 1,598 181 2,883 4,662 $ 55,458 $ 15,151 $ 2,883 $ 73,492 Adjusted Segment EBITDA $ 12,275 $ 865 $ 2,577 $ 15,717 Other operating costs and expenses: Depreciation and amortization (10,326) Corporate expenses (1,576) Project development costs (3) Preopening costs (757) Stock-based compensation (740) Operating income 2,315 Other expense: Interest expense, net (11,023) (11,023) Loss before income taxes (8,708) Income tax benefit (79) Net loss $ (8,629) (In thousands) Three Months Ended June 30, 2023 Contracted Sports Midwest & South West Wagering Total Revenues Casino $ 38,281 $ 7,078 $ — $ 45,359 Food and beverage 7,894 779 — 8,673 Hotel 2,229 119 — 2,348 Other operations, 1,507 113 1,382 3,002 $ 49,911 $ 8,089 $ 1,382 $ 59,382 Adjusted Segment EBITDA $ 9,391 $ 177 $ 1,361 $ 10,929 Other operating costs and expenses: Depreciation and amortization (8,155) Corporate expenses (422) Project development costs (17) Preopening costs (1,086) Stock-based compensation (655) Operating income 594 Other expense: Interest expense, net (5,633) (5,633) Loss before income taxes (5,039) Income tax provision 561 Net loss $ (5,600) (In thousands) Six Months Ended June 30, 2024 Contracted Sports Midwest & South West Wagering Total Revenues Casino $ 83,960 $ 22,398 $ — $ 106,358 Food and beverage 17,193 2,979 — 20,172 Hotel 4,132 2,462 — 6,594 Other operations, 4,803 346 5,143 10,292 $ 110,088 $ 28,185 $ 5,143 $ 143,416 Adjusted Segment EBITDA $ 24,958 $ 731 $ 4,512 $ 30,201 Other operating costs and expenses: Depreciation and amortization (20,951) Corporate expenses (3,651) Project development costs (3) Preopening costs (2,420) Loss on disposal of assets (18) Stock-based compensation (1,449) Operating income 1,709 Other expense: Interest expense, net (21,273) (21,273) Loss before income taxes (19,564) Income tax provision 337 Net loss $ (19,901) (In thousands) Six Months Ended June 30, 2023 Contracted Sports Midwest & South West Wagering Total Revenues Casino $ 67,133 $ 14,213 $ — $ 81,346 Food and beverage 14,791 1,542 — 16,333 Hotel 4,269 223 — 4,492 Other operations, 4,520 235 2,562 7,317 $ 90,713 $ 16,213 $ 2,562 $ 109,488 Adjusted Segment EBITDA $ 20,077 $ 234 $ 2,522 $ 22,833 Other operating costs and expenses: Depreciation and amortization (14,014) Corporate expenses (2,201) Project development costs (24) Preopening costs (11,583) Stock-based compensation (1,403) Operating loss (6,392) Other (expense) income: Interest expense, net (10,452) Gain on insurance settlement 355 (10,097) Loss before income taxes (16,489) Income tax provision 526 Net loss $ (17,015) (In thousands) June 30, December 31, 2024 2023 Total Assets Midwest & South $ 297,567 $ 298,072 West 359,933 372,875 Contracted Sports Wagering 1,477 977 Corporate and Other 14,941 16,533 $ 673,918 $ 688,457

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
SUBSEQUENT EVENTS	Jun. 30, 2024
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	9. SUBSEQUENT EVENTS Grand Lodge Casino Lease Extension through December 2034 On July 1, 2024, the Company’s subsidiary, Gaming Entertainment (Nevada), LLC entered into a Seventh Amendment (the “Amendment”) with the landlord to amend the terms of the Hyatt Lease. The Amendment extends the term of the casino operations lease by 10 years to December 31, 2034. The current annual rent of $2.00 million will increase nominally in 2025 to $2.01 million, followed by annual increases of 2% for the remainder of this extended term. In the event of a significant renovation, the lessor may terminate the lease early with six months’ notice. Similar to previous lease arrangements, the lessor also has an option to purchase the Company’s leasehold interest and related operating assets of the Grand Lodge Casino at any time prior to lease expiration, subject to assumption of applicable liabilities. The option price is an amount equal to Grand Lodge Casino’s positive working capital, plus its EBITDA for the 12-month period preceding the acquisition (or pro-rated if less than 12 months remain on the lease), plus the fair market value of Grand Lodge Casino’s personal property. Except as set forth in the Amendment, all other terms of the Hyatt Lease remain in full force and effect. Amended Sports Wagering Contracts and Settlements On July 22, 2024, the Company’s two subsidiaries – Gaming Entertainment (Indiana) LLC and FHR-Colorado LLC – separately entered into amended Sports Agreements with a contracted party to settle overdue payments owed to the Company totaling $2.9 million for approximately $2.1 million, with such payment due to the Company in the third quarter of 2024. These amended Sports Agreements also included the reduction of certain future annual amounts, which are now required to be paid in advance of each annual term. Except as set forth in the respective amendments, all other terms of the Sports Agreements remain in full force and effect.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (8,629)	$ (11,272)	$ (5,600)	$ (11,415)	$ (19,901)	$ (17,015)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024 shares
Lewis Fanger
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	Insider Trading Arrangements
Name	Lewis Fanger
Title	Chief Financial Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	June 7, 2024
Aggregate Available	250,000
Trd Arr Expiration Date	February 3, 2025
Daniel Lee
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	Additionally, on June 11, 2024, Daniel Lee, our Chief Executive Officer, also adopted a Rule 10b5-1 Trading Plan that is intended to satisfy the affirmative defense conditions of Exchange Act Rule 10b5-1(c). Mr. Lee’s Rule 10b5-1 Trading Plan, which has a term until November 29, 2024, provides for the sale of up to 943,834 shares of common stock pursuant to one or more market or limit orders. This trading plan relates to certain options that are nearing their 10-year expiration date, with any stock sales intended to satisfy costs associated with the option exercise, including income taxes.
Name	Daniel Lee
Title	Chief Executive Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	June 11, 2024
Aggregate Available	943,834
Trd Arr Expiration Date	November 29, 2024

BASIS OF PRESENTATION AND SIG_2

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2024
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation	Basis of Presentation. The interim condensed 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 annualized results for an entire year. The condensed consolidated financial statements include the accounts of Full House and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.
Fair Value and the Fair Value Input Hierarchy	Fair Value and the Fair Value Input Hierarchy. GAAP categorizes the inputs used for fair value into a three-level hierarchy: ● Level 1: Observable inputs, such as quoted prices in active markets for identical assets or liabilities; ● Level 2: Comparable inputs other than quoted prices that are observable for similar assets or liabilities in less active markets; and ● Level 3: Unobservable inputs which may include metrics that market participants would use to estimate values, such as revenue and earnings multiples and relative rates of return. Methods and assumptions used to estimate the fair value of financial instruments are affected by the duration of the instruments and other factors used by market participants to estimate value. The carrying amounts for cash and equivalents, restricted cash, accounts receivable, and accounts payable approximate their estimated fair value because of the short durations of the instruments and inconsequential rates of interest.
Cash Equivalents and Restricted Cash	Cash Equivalents and Restricted Cash. Restricted cash balances consist of funds placed into an interest-bearing account to fund the completion of the Chamonix construction project, in accordance with the Company’s debt covenants.
Accounts Receivable and Credit Risk	Accounts Receivable and Credit Risk. (In thousands) June 30, December 31, 2024 2023 Casino $ 321 $ 343 Trade Accounts 3,059 3,479 Other Operations, excluding Contracted Sports Wagering 166 185 Contracted Sports Wagering 2,930 1,932 Other 618 582 7,094 6,521 Less: Provision for credit losses (1,582) (1,189) $ 5,512 $ 5,332 The following table shows the movement in the provision for credit losses recognized for accounts receivable that occurred during the period: (In thousands) 2024 2023 Balance at January 1 $ 1,189 $ 249 Current period provision for (recovery of) credit losses 538 (33) Write-offs (145) — Balance at June 30 $ 1,582 $ 216 At June 30, 2024, estimated loss reserves for the current year include an additional provision of $0.5 million in connection with two online sports wagering agreements, which remain active in Colorado and Indiana. In July 2024, each of the Company’s respective subsidiaries entered into amended agreements with the contracted party to settle such overdue receivables, which included settlement provisions for the outstanding receivable balances (see Note 9 Management regularly evaluates the adequacy of the Company’s recorded reserves. As of June 30, 2024, we believe that no significant concentrations of credit risk existed for which a reserve had not already been recorded.
Other Intangible Assets	Other Intangible Assets. Note 6 The long-term obligation for the Company’s gaming license in Illinois consisted of the following, as discussed above: (In thousands) June 30, December 31, 2024 2023 IGB Reconciliation Fee* $ 39,525 $ 22,092 Less: Amount representing interest (11,530) (7,187) Present value of IGB Reconciliation Fee $ 27,995 $ 14,905 __________ * Calculated based upon gaming revenues generated through June 2024. This one-time fee will be paid in six annual installments beginning in February 2026. Additionally, during the second quarter of 2024, the Company retired $7.8 million of fully amortized intangible assets, which consisted primarily of acquired player loyalty programs. This resulted in net accumulated amortization of $0.4 million at June 30, 2024, compared to $8.1 million at December 31, 2023.
Revenue Recognition	Revenue Recognition: Accrued Club Points and Customer Loyalty Programs: Operating Revenues and Related Costs and Expenses. The transaction price for a casino wager is the difference between gaming wins and losses, not the total amount wagered. As such wagers have similar characteristics, the Company accounts for its gaming transactions on a portfolio basis by recognizing net win per gaming day versus on an individual basis. The Company sometimes provides discretionary complimentary goods and services (“discretionary comps”). For these types of transactions, the Company allocates revenue to the department providing the complimentary goods or services based upon its estimated standalone selling price, offset by a reduction in casino revenues. Many of the Company’s casino customers choose to earn points under its customer loyalty programs. As points are accrued, the Company defers a portion of its casino revenue based on the estimated standalone value of loyalty points being earned by the customer. The standalone value of loyalty points is derived from the retail value of food, beverages, hotel rooms, and other goods or services for which such points may be redeemed. A liability related to these customer loyalty points is recorded, net of estimated breakage and other factors, until the customer redeems these points for various loyalty program benefits, primarily for “free casino play,” complimentary dining, or hotel stays, among others, depending on each property’s specific offers. Upon redemption, the related revenue is recognized at retail value within the department providing the goods or services. Unredeemed points are forfeited if the customer becomes and remains inactive for a specified period of time. Such liabilities were approximately $0.9 million at June 30, 2024 and $0.8 million at December 31, 2023, and these amounts are included in “other accrued expenses and current liabilities” on the condensed consolidated balance sheets. Revenue for food and beverage, hotel, and other revenue transactions, as described in “Other Revenues” below, includes the retail value of (i) discretionary comps and (ii) comps provided in return for redemption of loyalty points. Additionally, the Company may collect deposits in advance for future hotel reservations or entertainment, among other services, which represent obligations of the Company until the service is provided to the customer. Deferred Revenues: Market Access Fees from Sports Wagering Agreements. Indiana. Note 9 Colorado. Note 9 Illinois. In addition to the market access fees, deferred revenue includes annual prepayments of contracted revenue. With the July 2024 amendment of two Sports Agreements, the prepayment of contracted revenue is now required in all of the Company’s active Sports Agreements. Deferred revenues consisted of the following, as discussed above: (In thousands) June 30, December 31, Balance Sheet Location 2024 2023 Deferred revenue, current Other accrued expenses and current liabilities $ 3,346 $ 6,175 Deferred revenue, net of current portion Contract liabilities, net of current portion 4,962 6,192 $ 8,308 $ 12,367 Other Revenues. Revenue by Source. Note 8
Income Taxes	Income Taxes.
Reclassifications	Reclassifications.
Earnings (Loss) Per Share	Earnings (Loss) Per Share.
Leases	Leases. For material leases with terms greater than a year, the Company records right-of-use (“ROU”) assets and lease liabilities on the balance sheet, as measured on a discounted basis. For finance leases, the Company recognizes interest expense associated with the lease liability, as well as depreciation (or amortization) expense associated with the ROU asset, depending on whether those ROU assets are expected to transfer to the Company upon lease expiration. If ownership of a finance lease ROU asset is expected to transfer to the Company upon lease expiration, then it is included with the Company’s property and equipment; other qualifying finance lease ROU assets, based on other classifying criteria under Accounting Standards Codification 842 (“ASC 842”), are disclosed separately as “Finance Lease Right-of-Use Assets, Net.” For operating leases, the Company recognizes straight-line rent expense. The Company does not recognize ROU assets or lease liabilities for leases with a term of 12 months or less. However, costs related to short-term leases with terms greater than one month, which the Company deems material, are disclosed as a component of lease expenses when applicable. Additionally, the Company accounts for new and existing leases containing both lease and non-lease components (“embedded leases”) together as a single lease component Finance and operating lease ROU assets and liabilities are recognized based on the present value of future minimum lease payments over the expected lease term at commencement, plus any qualifying initial direct costs paid prior to commencement for ROU assets. As the implicit rate is not determinable in most of the Company’s leases, management uses the Company’s incremental borrowing rate as estimated by third-party valuation specialists in determining the present value of future payments based on the information available at the commencement date and/or modification date. The expected lease terms include options to extend or terminate the lease when it is reasonably certain that the Company will exercise such options. Lease expense for minimum lease payments is recognized on a straight-line basis over the expected lease term for operating leases. For finance leases, the ROU asset depreciates/amortizes on a straight-line basis over the shorter of the lease term or useful life of the ROU asset as applicable, and the lease liability accretes interest based on the interest method using the discount rate determined at lease commencement.
Preopening costs	Preopening costs.
Debt Issuance Costs and Debt Discounts/Premiums	Debt Issuance Costs and Debt Discounts/Premiums.
Accounting Pronouncements	Accounting Pronouncements: ASU 2023-09, Income Taxes, Topic 740, Improvements to Income Tax Disclosures (“Update 2023-09”). ASU 2023-07, Segment Reporting, Topic 280, Improvements to Reportable Segment Disclosures (“Update 2023-07”). The Company believes that there are no other recently-issued accounting standards not yet effective that are currently likely to have a material impact on its financial statements.

ORGANIZATION (Tables)

ORGANIZATION (Tables)	6 Months Ended
ORGANIZATION (Tables)	Jun. 30, 2024
ORGANIZATION
Schedule of Properties	Segments and Properties Locations Midwest & South American Place * Waukegan, IL (northern suburb of Chicago) Silver Slipper Casino and Hotel Hancock County, MS (near New Orleans) Rising Star Casino Resort Rising Sun, IN (near Cincinnati) West Bronco Billy’s Casino and Chamonix Casino Hotel * Cripple Creek, CO (near Colorado Springs) Grand Lodge Casino Incline Village, NV Stockman’s Casino Fallon, NV (one hour east of Reno) Contracted Sports Wagering One active sports wagering website (“skins”), plus two others that are currently idle Colorado One active sports wagering website (“skins”), plus two others that are currently idle Indiana One active sports wagering website (“skin”), commenced in August 2023 Illinois __________ * The temporary American Place facility and Chamonix opened on February 17 and December 27, 2023, respectively.

BASIS OF PRESENTATION AND SIG_3

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2024
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES
Schedule of Accounts receivable	(In thousands) June 30, December 31, 2024 2023 Casino $ 321 $ 343 Trade Accounts 3,059 3,479 Other Operations, excluding Contracted Sports Wagering 166 185 Contracted Sports Wagering 2,930 1,932 Other 618 582 7,094 6,521 Less: Provision for credit losses (1,582) (1,189) $ 5,512 $ 5,332
Credit losses recognized for accounts receivable	(In thousands) 2024 2023 Balance at January 1 $ 1,189 $ 249 Current period provision for (recovery of) credit losses 538 (33) Write-offs (145) — Balance at June 30 $ 1,582 $ 216
Schedule of other indefinite-lived intangible assets	(In thousands) June 30, December 31, 2024 2023 IGB Reconciliation Fee* $ 39,525 $ 22,092 Less: Amount representing interest (11,530) (7,187) Present value of IGB Reconciliation Fee $ 27,995 $ 14,905 __________ * Calculated based upon gaming revenues generated through June 2024. This one-time fee will be paid in six annual installments beginning in February 2026.
Schedule of Deferred revenues	(In thousands) June 30, December 31, Balance Sheet Location 2024 2023 Deferred revenue, current Other accrued expenses and current liabilities $ 3,346 $ 6,175 Deferred revenue, net of current portion Contract liabilities, net of current portion 4,962 6,192 $ 8,308 $ 12,367

LEASES (Tables)

LEASES (Tables)	6 Months Ended
LEASES (Tables)	Jun. 30, 2024
LEASES
Components of Lease Expense	The components of lease expenses are as follows: (In thousands) Three Months Ended Six Months Ended Classification within June 30, June 30, Lease Costs Statement of Operations 2024 2023 2024 2023 Operating leases: Fixed/base rent Selling, General and Administrative Expenses $ 1,964 $ 2,170 $ 3,927 $ 3,962 Short-term payments Selling, General and Administrative Expenses — — — 22 Variable payments Selling, General and Administrative Expenses 316 349 579 654 Finance leases: Amortization of leased assets Depreciation and Amortization 374 348 749 701 Interest on lease liabilities Interest Expense, Net 70 109 149 220 Total lease costs $ 2,724 $ 2,976 $ 5,404 $ 5,559
Balance Sheet Information For Leases	Leases recorded on the balance sheet consist of the following: (In thousands) June 30, December 31, Leases Balance Sheet Classification 2024 2023 Assets Operating lease assets Operating Lease Right-of-Use Assets, Net $ 43,074 $ 44,704 Finance lease assets Property and Equipment, Net (1) 4,331 4,409 Finance lease assets Finance Lease Right-of-Use Assets, Net (2) 1,647 2,318 Total lease assets $ 49,052 $ 51,431 Liabilities Current Operating Current Portion of Operating Lease Obligations $ 4,298 $ 4,784 Finance Current Portion of Finance Lease Obligations 1,768 1,694 Noncurrent Operating Operating Lease Obligations, Net of Current Portion 39,219 40,248 Finance Finance Lease Obligations, Net of Current Portion 1,801 2,705 Total lease liabilities $ 47,086 $ 49,431 __________ (1) Finance lease assets are recorded net of accumulated amortization of $2.8 million for June 30, 2024 and $2.7 million for December 31, 2023. (2) These finance lease assets are recorded separately from Property and Equipment due to meeting qualifying classification criteria under ASC 842, but ownership of such assets is not expected to transfer to the Company upon term expiration. Additionally, amortization of these assets are expensed over the duration of the lease term or the assets’ estimated useful lives, whichever is earlier.
Finance Lease, Liability, Maturity	(In thousands) Operating Finance Years Ending December 31, Leases Leases 2024 (excluding the six months ended June 30, 2024) $ 3,924 $ 978 2025 5,722 1,721 2026 4,864 652 2027 4,515 489 2028 4,515 — Thereafter 312,066 — Total future minimum lease payments 335,606 3,840 Less: Amount representing interest (292,089) (271) Present value of lease liabilities 43,517 3,569 Less: Current lease obligations (4,298) (1,768) Long-term lease obligations $ 39,219 $ 1,801
Other Information Related To Lease Term And Discount Rate	Other information related to lease term and discount rate is as follows: June 30, December 31, Lease Term and Discount Rate 2024 2023 Weighted-average remaining lease term Operating leases 69.8 years 67.9 years Finance leases 2.3 years 2.8 years Weighted-average discount rate Operating leases 10.92 % 10.91 % Finance leases 7.19 % 7.46 %
Supplemental Cash Flow Information Related To Leases	(In thousands) Six Months Ended June 30, Cash paid for amounts included in the measurement of lease liabilities: 2024 2023 Operating cash flows for operating leases $ 3,812 $ 3,898 Operating cash flows for finance leases $ 149 $ 220 Financing cash flows for finance leases $ 830 $ 759

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	6 Months Ended
LONG-TERM DEBT (Tables)	Jun. 30, 2024
LONG-TERM DEBT.
Schedule of Long-Term Debt	(In thousands) June 30, December 31, 2024 2023 Revolving Credit Facility due 2026 $ 27,000 $ 27,000 8.25% Senior Secured Notes due 2028 450,000 450,000 Less: Unamortized debt issuance costs and discounts/premiums, net (10,362) (11,847) $ 466,638 $ 465,153
Debt Instrument Redemption	The Company may redeem some or all of the Notes for cash at the following redemption prices: Redemption Periods Percentage Premium February 15, 2024 to February 14, 2025 104.125 % February 15, 2025 to February 14, 2026 102.063 % February 15, 2026 and Thereafter 100.000 %

EARNINGS (LOSS) PER SHARE (Tabl

EARNINGS (LOSS) PER SHARE (Tables)	6 Months Ended
EARNINGS (LOSS) PER SHARE (Tables)	Jun. 30, 2024
EARNINGS (LOSS) PER SHARE
Schedule of Earnings Per Share, Basic and Diluted	The table below reconciles basic and diluted loss per share of common stock: (In thousands) Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Numerator: Net loss ─ basic $ (8,629) $ (5,600) $ (19,901) $ (17,015) Net loss ─ diluted $ (8,629) $ (5,600) $ (19,901) $ (17,015) Denominator: Weighted-average common shares ─ basic 34,710 34,496 34,650 34,453 Potential dilution from share-based awards — — — — Weighted-average common and common share equivalents ─ diluted 34,710 34,496 34,650 34,453 Anti-dilutive share-based awards excluded from the calculation of diluted loss per share 4,408 4,079 4,310 3,962

SEGMENT REPORTING AND DISAGGR_2

SEGMENT REPORTING AND DISAGGREGATED REVENUE (Tables)	6 Months Ended
SEGMENT REPORTING AND DISAGGREGATED REVENUE (Tables)	Jun. 30, 2024
SEGMENT REPORTING AND DISAGGREGATED REVENUE
Schedule of Total Revenues By Segment	The following tables present the Company’s segment information: (In thousands) Three Months Ended June 30, 2024 Contracted Sports Midwest & South West Wagering Total Revenues Casino $ 43,051 $ 11,634 $ — $ 54,685 Food and beverage 8,683 1,720 — 10,403 Hotel 2,126 1,616 — 3,742 Other operations, including 1,598 181 2,883 4,662 $ 55,458 $ 15,151 $ 2,883 $ 73,492 Adjusted Segment EBITDA $ 12,275 $ 865 $ 2,577 $ 15,717 Other operating costs and expenses: Depreciation and amortization (10,326) Corporate expenses (1,576) Project development costs (3) Preopening costs (757) Stock-based compensation (740) Operating income 2,315 Other expense: Interest expense, net (11,023) (11,023) Loss before income taxes (8,708) Income tax benefit (79) Net loss $ (8,629) (In thousands) Three Months Ended June 30, 2023 Contracted Sports Midwest & South West Wagering Total Revenues Casino $ 38,281 $ 7,078 $ — $ 45,359 Food and beverage 7,894 779 — 8,673 Hotel 2,229 119 — 2,348 Other operations, 1,507 113 1,382 3,002 $ 49,911 $ 8,089 $ 1,382 $ 59,382 Adjusted Segment EBITDA $ 9,391 $ 177 $ 1,361 $ 10,929 Other operating costs and expenses: Depreciation and amortization (8,155) Corporate expenses (422) Project development costs (17) Preopening costs (1,086) Stock-based compensation (655) Operating income 594 Other expense: Interest expense, net (5,633) (5,633) Loss before income taxes (5,039) Income tax provision 561 Net loss $ (5,600) (In thousands) Six Months Ended June 30, 2024 Contracted Sports Midwest & South West Wagering Total Revenues Casino $ 83,960 $ 22,398 $ — $ 106,358 Food and beverage 17,193 2,979 — 20,172 Hotel 4,132 2,462 — 6,594 Other operations, 4,803 346 5,143 10,292 $ 110,088 $ 28,185 $ 5,143 $ 143,416 Adjusted Segment EBITDA $ 24,958 $ 731 $ 4,512 $ 30,201 Other operating costs and expenses: Depreciation and amortization (20,951) Corporate expenses (3,651) Project development costs (3) Preopening costs (2,420) Loss on disposal of assets (18) Stock-based compensation (1,449) Operating income 1,709 Other expense: Interest expense, net (21,273) (21,273) Loss before income taxes (19,564) Income tax provision 337 Net loss $ (19,901) (In thousands) Six Months Ended June 30, 2023 Contracted Sports Midwest & South West Wagering Total Revenues Casino $ 67,133 $ 14,213 $ — $ 81,346 Food and beverage 14,791 1,542 — 16,333 Hotel 4,269 223 — 4,492 Other operations, 4,520 235 2,562 7,317 $ 90,713 $ 16,213 $ 2,562 $ 109,488 Adjusted Segment EBITDA $ 20,077 $ 234 $ 2,522 $ 22,833 Other operating costs and expenses: Depreciation and amortization (14,014) Corporate expenses (2,201) Project development costs (24) Preopening costs (11,583) Stock-based compensation (1,403) Operating loss (6,392) Other (expense) income: Interest expense, net (10,452) Gain on insurance settlement 355 (10,097) Loss before income taxes (16,489) Income tax provision 526 Net loss $ (17,015)
Schedule of Total Assets By Segment	(In thousands) June 30, December 31, 2024 2023 Total Assets Midwest & South $ 297,567 $ 298,072 West 359,933 372,875 Contracted Sports Wagering 1,477 977 Corporate and Other 14,941 16,533 $ 673,918 $ 688,457

ORGANIZATION - Resort (Details)

ORGANIZATION - Resort (Details)	Jun. 30, 2024 item
Number of casinos operated	7
Number of casinos owned or leased	6
Number of casinos located within a hotel owned by a third party	1
Number of sports skins operating	7
INDIANA
Number of sports skins operating	3
COLORADO
Number of sports skins operating	3
ILLINOIS
Number of sports skins operating	1

BASIS OF PRESENTATION AND SIG_4

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Accounts Receivable (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Basis Of Presentation [Line Items]
Accounts receivable	$ 7,094		$ 6,521
Less: Provision for credit losses	(1,582)	$ (216)	(1,189)	$ (249)
Accounts receivable, net	5,512		5,332
Current period provision for (recovery of) credit losses	538	$ (33)
Casino
Basis Of Presentation [Line Items]
Accounts receivable	321		343
Trade Accounts
Basis Of Presentation [Line Items]
Accounts receivable	3,059		3,479
Other Operations, excluding Contracted Sports Wagering
Basis Of Presentation [Line Items]
Accounts receivable	166		185
Contracted Sports Wagering
Basis Of Presentation [Line Items]
Accounts receivable	2,930		1,932
Other
Basis Of Presentation [Line Items]
Accounts receivable	618		$ 582
Sports Wagering Agreements \| Colorado And Indiana
Basis Of Presentation [Line Items]
Current period provision for (recovery of) credit losses	$ 500

BASIS OF PRESENTATION AND SIG_5

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Credit Loss Recognized (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
ACCOUNTS RECEIVABLE
Balance at January 1	$ 1,189	$ 249
Current period provision for (recovery of) credit losses	538	(33)
Write-offs	(145)
Balance at June 30	$ 1,582	$ 216

BASIS OF PRESENTATION AND SIG_6

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Other Intangible Assets (Details) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended
	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
GOODWILL AND OTHER INTANGIBLES
Acquisition of intangible assets		$ 1	$ 50,250
Amortized intangible assets of company retired		7,800
Intangible assets accumulated amortization		377		$ 8,140
Gaming Licenses \| Illinois
GOODWILL AND OTHER INTANGIBLES
Acquisition of intangible assets	$ 50,300
IGB Reconciliation Fee		39,525		22,092
Less: Amount representing interest		(11,530)		(7,187)
Present value of IGB Reconciliation Fee		$ 27,995		$ 14,905

BASIS OF PRESENTATION AND SIG_7

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Deferred Revenues (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Deferred revenue, net of current portion	$ 4,962	$ 6,192
Contract with Customer, Liability, Total	8,308	12,367
Other accrued expenses and current liabilities
Deferred revenue, current	3,346	6,175
Contract liabilities, net of current portion
Deferred revenue, net of current portion	$ 4,962	$ 6,192

BASIS OF PRESENTATION AND SIG_8

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Deferred Revenues: Market Access Fees from Sports Wagering Agreements (Details) $ in Millions	3 Months Ended	6 Months Ended	11 Months Ended	31 Months Ended	49 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2024 USD ($) item	Jun. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Basis Of Presentation [Line Items]
Liabilities in other accrued expenses	$ 0.9	$ 0.9	$ 0.9	$ 0.9	$ 0.9	$ 0.8
INDIANA
Basis Of Presentation [Line Items]
Upfront Fee Received Being Amortized				$ 1
Term of agreement				10 years
Number of idle skins operated itself or utilize replacement operators \| item		2
ILLINOIS
Basis Of Presentation [Line Items]
Minimum revenues receivable	5	$ 5	5	$ 5	5
Upfront Fee Received Being Amortized			$ 5
Term of agreement			8 years
Sports Wagering Agreements \| COLORADO
Basis Of Presentation [Line Items]
Deferred revenue	$ 0.9
Sports Wagering Agreements, One [Member] \| COLORADO
Basis Of Presentation [Line Items]
Upfront Fee Received Being Amortized					$ 1
Term of agreement					10 years

BASIS OF PRESENTATION AND SIG_9

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Leases (Details)	Jun. 30, 2024
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES
Lease, Practical Expedient, Lessor Single Lease Component [true false]	true

LEASES - Narrative (Details)

LEASES - Narrative (Details)		1 Months Ended	6 Months Ended	12 Months Ended	108 Months Ended
LEASES - Narrative (Details)	Jul. 01, 2024 USD ($)	Jan. 31, 2023 USD ($) a	Jun. 30, 2024 USD ($) a room ft² lease Option	Dec. 31, 2004 USD ($) a	Jan. 31, 2035 USD ($)	Mar. 31, 2020 USD ($)
Lessee, Lease, Description [Line Items]
Number of leases in which company is lessor \| lease			0
Adjacent area parcel \| a		10
EBITDA measurement period preceding acquisition			12 months
Grand Lodge Casino facility
Lessee, Lease, Description [Line Items]
Rent			$ 2,000,000
Lessor acquisition price, EBITDA measurement period			12 months
Grand Lodge Casino facility \| Subsequent Event
Lessee, Lease, Description [Line Items]
Rent	$ 2,010,000
Lease extension term	10 years
Corporate Office Lease
Lessee, Lease, Description [Line Items]
Rent			$ 200,000
Office lease, square feet \| ft²			4,479
Land Lease With City of Waukegan, Illinois
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Term of Contract		99 years
Area of land subject to ground lease \| a		32
Land lease \| Land Lease Of Silver Slipper Casino Site
Lessee, Lease, Description [Line Items]
Percentage of gross gaming revenue				3%
Land lease \| Land Lease Of Silver Slipper Casino Site
Lessee, Lease, Description [Line Items]
Gross gaming revenue (in excess of)				$ 3,650,000
Contingent rent			$ 800,000
Cost to exercise purchase option						$ 15,500,000
Retained interest in percentages of net income				3%
Retained interest in percentages of net income, term				10 years
Annual Guaranteed Minimum Rent				$ 900,000
Land lease \| Land Lease Of Silver Slipper Casino Site \| Marshland
Lessee, Lease, Description [Line Items]
Area of land subject to ground lease \| a				31
Land lease \| Land Lease Of Silver Slipper Casino Site \| Parcel
Lessee, Lease, Description [Line Items]
Area of land subject to ground lease \| a				7
Certain parking lots and buildings \| Bronco Billy's Casino and Hotel
Lessee, Lease, Description [Line Items]
Cost to exercise purchase option			$ 7,600,000
Number of original renewal options \| Option			6
Certain parking lots and buildings \| Lease Terms, Option One \| Bronco Billy's Casino and Hotel
Lessee, Lease, Description [Line Items]
Lease extension term			3 years
Certain parking lots and buildings \| Lease Terms, Option Two \| Bronco Billy's Casino and Hotel
Lessee, Lease, Description [Line Items]
Operating Leases Annual Rent Payment			$ 400,000
Waukegan Ground Lease
Lessee, Lease, Description [Line Items]
Annual Guaranteed Minimum Rent		$ 3,000,000
Adjusted Gross Receipts (in percent)		2.50%
Amount required to purchase lease area		$ 30,000,000
Rising Star Casino Resort \| Rising Sun/Ohio County First, Inc
Lessee, Lease, Description [Line Items]
Number of hotel rooms \| room			104
Project actual cost			$ 7,700,000
Potential purchase price			2,000,000
Option price at lease maturity			$ 1
Option to purchase land area \| a			3.01
Minimum
Lessee, Lease, Description [Line Items]
Lease terms			1 month
Minimum \| Certain parking lots and buildings \| Bronco Billy's Casino and Hotel \| Scenario, Forecast
Lessee, Lease, Description [Line Items]
Operating Leases Annual Rent Payment					$ 500,000
Maximum
Lessee, Lease, Description [Line Items]
Lease terms			98 years

LEASES - Lease Expense (Details

LEASES - Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
LEASES - Lease Expense (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
LEASES
Fixed/base rent	$ 1,964	$ 2,170	$ 3,927	$ 3,962
Short-term payments				22
Variable payments	316	349	579	654
Amortization of leased assets	374	348	749	701
Interest on lease liabilities	70	109	149	220
Total lease costs	$ 2,724	$ 2,976	$ 5,404	$ 5,559

LEASES - Balance Sheet Details

LEASES - Balance Sheet Details (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
LEASES
Operating lease assets	$ 43,074	$ 44,704
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Operating lease assets	Operating lease assets
Finance lease assets	$ 4,331	$ 4,409
Finance Lease Right of Use Asset, Net Included in Property Plant and Equipment [Extensible Enumeration]	Property Plant And Equipment And Partial Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization	Property Plant And Equipment And Partial Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
Finance lease assets	$ 1,647	$ 2,318
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Finance lease assets	Finance lease assets
Total lease assets	$ 49,052	$ 51,431
Current operating lease liability	$ 4,298	$ 4,784
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Current operating lease liability	Current operating lease liability
Current finance lease liability	$ 1,768	$ 1,694
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Current finance lease liability	Current finance lease liability
Noncurrent operating lease liability	$ 39,219	$ 40,248
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Noncurrent operating lease liability	Noncurrent operating lease liability
Noncurrent finance lease liability	$ 1,801	$ 2,705
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Noncurrent finance lease liability	Noncurrent finance lease liability
Total lease liabilities	$ 47,086	$ 49,431
Finance Lease, Right-of-Use Asset, Accumulated Amortization	$ 2,800	$ 2,700

LEASES - Maturities of Lease Li

LEASES - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Operating Leases
2024 (excluding the six months ended June 30, 2024)	$ 3,924
2025	5,722
2026	4,864
2027	4,515
2028	4,515
Thereafter	312,066
Total future minimum lease payments	335,606
Less: Amount representing interest	(292,089)
Present value of lease liabilities	43,517
Less: Current lease obligations	(4,298)	$ (4,784)
Long-term lease obligations	39,219	40,248
Financing Lease
2024 (excluding the six months ended June 30, 2024)	978
2025	1,721
2026	652
2027	489
Total future minimum lease payments	3,840
Less: Amount representing interest	(271)
Present value of lease liabilities	3,569
Less: Current lease obligations	(1,768)	(1,694)
Long-term lease obligations	$ 1,801	$ 2,705

LEASES - Lease Term and Discoun

LEASES - Lease Term and Discount Rate (Details)	Jun. 30, 2024	Dec. 31, 2023
LEASES
Weighted-average remaining lease term, operating leases	69 years 9 months 18 days	67 years 10 months 24 days
Weighted-average remaining lease term, finance leases	2 years 3 months 18 days	2 years 9 months 18 days
Weighted-average discount rate, operating leases	10.92%	10.91%
Weighted-average discount rate, finance leases	7.19%	7.46%

LEASES - Supplemental Cash Flow

LEASES - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$ 3,812	$ 3,898
Operating cash flows for finance leases	149	220
Financing cash flows for finance leases	$ 830	$ 759

LONG-TERM DEBT - Long-Term Debt

LONG-TERM DEBT - Long-Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Feb. 07, 2022	Feb. 12, 2021
Debt Instrument [Line Items]
Less: Unamortized debt issuance costs and discounts/premiums, net	$ (10,362)	$ (11,847)
Long-term debt, net	466,638	465,153
Revolving Credit Facility Due 2026 \| Senior Secured Notes
Debt Instrument [Line Items]
Outstanding principal	27,000	27,000
Senior Secured Notes Due 2028 \| Senior Secured Notes
Debt Instrument [Line Items]
Outstanding principal	$ 450,000	$ 450,000
Debt Instrument, Interest Rate, Stated Percentage	8.25%	8.25%	8.25%	8.25%
Estimated fair value	$ 431,500	$ 423,000

LONG-TERM DEBT - Senior Secured

LONG-TERM DEBT - Senior Secured Notes Narrative (Details) $ in Thousands			6 Months Ended
	Feb. 21, 2023 USD ($)	Feb. 07, 2022 USD ($) item	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2023	Jan. 31, 2022 USD ($)	Feb. 12, 2021 USD ($)
Line of Credit Facility [Line Items]
Proceeds from Senior Secured Notes due 2028 borrowings			$ 0	$ 40,000
Proceeds from the offering, net of related expenses and discounts	$ 34,000
Senior Secured Notes Due 2028 \| Senior Secured Notes
Line of Credit Facility [Line Items]
Proceeds from Senior Secured Notes due 2028 borrowings	40,000
Number of Supplemental Indentures Entered \| item		3
Senior Secured Notes Due 2028 \| Senior Secured Notes
Line of Credit Facility [Line Items]
Aggregate principal amount	$ 450,000						$ 310,000
Additional principal amount of debt issued		$ 100,000
Issue price, percentage		102%
Interest rate		8.25%	8.25%		8.25%		8.25%
Borrowed funds designated for constructing project						$ 221,000	$ 180,000

LONG-TERM DEBT - Redemption of

LONG-TERM DEBT - Redemption of Senior Secured Notes (Details) - Senior Secured Notes - Senior Secured Notes Due 2028	Feb. 12, 2021
February 15, 2024 to February 14, 2025
Line of Credit Facility [Line Items]
Percentage of principal amount of debt redeemed	104.125%
February 15, 2025 to February 14, 2026
Line of Credit Facility [Line Items]
Percentage of principal amount of debt redeemed	102.063%
February 15, 2026 and Thereafter
Line of Credit Facility [Line Items]
Percentage of principal amount of debt redeemed	100%

LONG-TERM DEBT - Revolving Cred

LONG-TERM DEBT - Revolving Credit Facility (Details) - Revolving Credit Facility - USD ($) $ in Millions	Feb. 07, 2022	Jun. 30, 2024	Feb. 21, 2023	Mar. 31, 2021
Debt Instrument [Line Items]
Agreement of revolving credit facility	$ 40			$ 15
Line of Credit Facility, Additional Borrowing Capacity			$ 40	$ 25
Outstanding borrowings		$ 27
SOFR \| After Completion of Chamonix Project
Debt Instrument [Line Items]
Applicable margin rate	3%
Adjustment rate	0.15%
Base Rate \| After Completion of Chamonix Project
Debt Instrument [Line Items]
Applicable margin rate	2%

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details)	3 Months Ended		6 Months Ended
INCOME TAXES - Narrative (Details)	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
INCOME TAXES
Effective income tax rate	0.90%	(11.10%)	(1.70%)	(3.20%)

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - ILLINOIS - Contingent Gaming Licensing Fees [Member]	1 Months Ended	6 Months Ended
	Mar. 31, 2023	Jun. 30, 2023
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Other Commitment, Reconciliation Payment, Percentage of Adjusted Gross Receipt		75%
Other Commitment, Reconciliation Payment Calculation, Gross Receipt Trailing Months	12 months
Reconciliation payments, Installment period		6 years

EARNINGS (LOSS) PER SHARE - Rec

EARNINGS (LOSS) PER SHARE - Reconciliation of Earnings Per Share (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Numerator:
Net loss - basic	$ (8,629)	$ (5,600)	$ (19,901)	$ (17,015)
Net loss diluted	$ (8,629)	$ (5,600)	$ (19,901)	$ (17,015)
Denominator:
Weighted-average common share - basic (in shares)	34,710	34,496	34,650	34,453
Weighted-average common and common share equivalents - diluted (in shares)	34,710	34,496	34,650	34,453
Anti-dilutive share-based awards excluded from the calculation of diluted loss per share	4,408	4,079	4,310	3,962

SEGMENT REPORTING AND DISAGGR_3

SEGMENT REPORTING AND DISAGGREGATED REVENUE - Selected Statement of Operations Data (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Net Revenues	$ 73,492		$ 59,382		$ 143,416	$ 109,488
Adjusted Segment EBITDA	15,717		10,929		30,201	22,833
Depreciation and amortization	(10,326)		(8,155)		(20,951)	(14,014)
Corporate expenses	(1,576)		(422)		(3,651)	(2,201)
Project development costs	(3)		(17)		(3)	(24)
Preopening costs	(757)		(1,086)		(2,420)	(11,583)
Loss on disposal of assets					(18)	0
Stock-based compensation	(740)		(655)		(1,449)	(1,403)
Operating income (loss)	2,315		594		1,709	(6,392)
Other (expense) income:
Interest expense, net	(11,023)		(5,633)		(21,273)	(10,452)
Gain on insurance settlement					0	355
Nonoperating Income (Expense)	(11,023)		(5,633)		(21,273)	(10,097)
Loss before income taxes	(8,708)		(5,039)		(19,564)	(16,489)
Income tax (benefit) provision	(79)		561		337	526
Net loss	(8,629)	$ (11,272)	(5,600)	$ (11,415)	(19,901)	(17,015)
Midwest and South
Segment Reporting Information [Line Items]
Net Revenues	55,458		49,911		110,088	90,713
Adjusted Segment EBITDA	12,275		9,391		24,958	20,077
West
Segment Reporting Information [Line Items]
Net Revenues	15,151		8,089		28,185	16,213
Adjusted Segment EBITDA	865		177		731	234
Contracted Sports Wagering
Segment Reporting Information [Line Items]
Net Revenues	2,883		1,382		5,143	2,562
Adjusted Segment EBITDA	2,577		1,361		4,512	2,522
Casino
Segment Reporting Information [Line Items]
Net Revenues	54,685		45,359		106,358	81,346
Casino \| Midwest and South
Segment Reporting Information [Line Items]
Net Revenues	43,051		38,281		83,960	67,133
Casino \| West
Segment Reporting Information [Line Items]
Net Revenues	11,634		7,078		22,398	14,213
Food and beverage
Segment Reporting Information [Line Items]
Net Revenues	10,403		8,673		20,172	16,333
Food and beverage \| Midwest and South
Segment Reporting Information [Line Items]
Net Revenues	8,683		7,894		17,193	14,791
Food and beverage \| West
Segment Reporting Information [Line Items]
Net Revenues	1,720		779		2,979	1,542
Hotel
Segment Reporting Information [Line Items]
Net Revenues	3,742		2,348		6,594	4,492
Hotel \| Midwest and South
Segment Reporting Information [Line Items]
Net Revenues	2,126		2,229		4,132	4,269
Hotel \| West
Segment Reporting Information [Line Items]
Net Revenues	1,616		119		2,462	223
Other operations, including contracted sports wagering
Segment Reporting Information [Line Items]
Net Revenues	4,662		3,002		10,292	7,317
Other operations, including contracted sports wagering \| Midwest and South
Segment Reporting Information [Line Items]
Net Revenues	1,598		1,507		4,803	4,520
Other operations, including contracted sports wagering \| West
Segment Reporting Information [Line Items]
Net Revenues	181		113		346	235
Other operations, including contracted sports wagering \| Contracted Sports Wagering
Segment Reporting Information [Line Items]
Net Revenues	$ 2,883		$ 1,382		$ 5,143	$ 2,562

SEGMENT REPORTING AND DISAGGR_4

SEGMENT REPORTING AND DISAGGREGATED REVENUE - Selected Balance Sheet Data (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total Assets	$ 673,918	$ 688,457
Corporate and Other
Segment Reporting Information [Line Items]
Total Assets	14,941	16,533
Midwest and South \| Operating Segments
Segment Reporting Information [Line Items]
Total Assets	297,567	298,072
West \| Operating Segments
Segment Reporting Information [Line Items]
Total Assets	359,933	372,875
Contracted Sports Wagering \| Operating Segments
Segment Reporting Information [Line Items]
Total Assets	$ 1,477	$ 977

SUBSEQUENT EVENTS - Grand Lodge

SUBSEQUENT EVENTS - Grand Lodge Casino Lease Extension and Contracted Sports Wagering Settlements and Amendments (Details) - USD ($) $ in Thousands		6 Months Ended
	Jul. 01, 2024	Jun. 30, 2024	Jul. 22, 2024
Contracted Sports Wagering
Subsequent Event [Line Items]
Overdue payments owed to company		$ 2,900
Grand Lodge Casino facility
Subsequent Event [Line Items]
Annual rent		$ 2,000
Subsequent Event \| Contracted Sports Wagering
Subsequent Event [Line Items]
Overdue payments settlement amount			$ 2,100
Subsequent Event \| Grand Lodge Casino facility
Subsequent Event [Line Items]
Lease extension term	10 years
Annual rent	$ 2,010
Annual increase in rent (as a percentage)	2%