Full House Resorts (FLL) 10-Q6 Nov 242024 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2024	Nov. 04, 2024
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 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		35,601,097
Entity Central Index Key	0000891482
Current Fiscal Year End Date	--12-31
Document Fiscal Year End	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues
Net revenues	$ 75,687	$ 71,543	$ 219,103	$ 181,031
Operating costs and expenses
Selling, general and administrative	26,738	22,017	76,958	61,823
Project development costs	52	21	55	45
Preopening costs	42	1,051	2,462	12,634
Depreciation and amortization	10,493	8,468	31,444	22,482
Loss on disposal of assets		7	18	7
Gain on sale of Stockman's	(2,000)		(2,000)	0
Total operating costs and expenses	73,238	61,186	214,945	177,066
Operating income	2,449	10,357	4,158	3,965
Other (expense) income
Interest expense, net	(11,047)	(5,867)	(32,320)	(16,319)
Gain on settlements		29		384
Total other (expense) income	(11,047)	(5,838)	(32,320)	(15,935)
(Loss) income before income taxes	(8,598)	4,519	(28,162)	(11,970)
Income tax (benefit) provision	(126)	(74)	211	452
Net (loss) income	$ (8,472)	$ 4,593	$ (28,373)	$ (12,422)
Basic (loss) earnings per share (in dollars per share)	$ (0.24)	$ 0.13	$ (0.82)	$ (0.36)
Diluted (loss) earnings per share (in dollars per share)	$ (0.24)	$ 0.13	$ (0.82)	$ (0.36)
Casino
Revenues
Net revenues	$ 56,116	$ 50,240	$ 162,474	$ 131,586
Operating costs and expenses
Costs and expenses	22,582	19,437	63,876	49,771
Food and beverage
Revenues
Net revenues	11,100	9,086	31,272	25,419
Operating costs and expenses
Costs and expenses	11,561	8,330	32,035	24,815
Hotel
Revenues
Net revenues	4,693	2,560	11,287	7,052
Operating costs and expenses
Costs and expenses	3,160	1,164	7,706	3,611
Other operations, including contracted sports wagering
Revenues
Net revenues	3,778	9,657	14,070	16,974
Operating costs and expenses
Costs and expenses	$ 610	$ 691	$ 2,391	$ 1,878

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets
Cash and equivalents	$ 25,936	$ 36,155
Restricted cash	7,664	37,639
Accounts receivable, net	5,847	5,332
Inventories	2,306	1,839
Prepaid expenses and other	3,959	3,674
Assets held for sale	2,487
Total current assets	48,199	84,639
Other long-term assets
Property and equipment, net	450,315	457,907
Operating lease right-of-use assets, net	56,528	44,704
Finance lease right-of-use assets, net	1,312	2,318
Goodwill	19,477	21,286
Other intangible assets, net	92,200	76,271
Deposits and other	687	1,332
Total Assets	668,718	688,457
Current liabilities
Accounts payable	9,449	12,794
Income taxes payable		489
Construction payable	6,364	20,667
Accrued payroll and related	9,143	4,097
Accrued interest	4,744	14,248
Other accrued expenses and current liabilities	19,761	19,779
Current portion of operating lease obligations	3,964	4,784
Current portion of finance lease obligations	1,897	1,694
Liabilities related to assets held for sale	79
Total current liabilities	55,401	78,552
Operating lease obligations, net of current portion	53,122	40,248
Finance lease obligations, net of current portion	1,245	2,705
Other long-term liabilities, net of current portion	33,091	16,075
Long-term debt, net	467,389	465,153
Deferred income taxes, net	1,895	1,684
Contract liabilities, net of current portion	4,756	6,192
Total liabilities	616,899	610,609
Commitments and contingencies (Note 7)
Stockholders' equity
Common stock, $0.0001 par value, 100,000,000 shares authorized; 35,446,627 and 35,302,549 shares issued and 35,446,627 and 34,590,150 shares outstanding	4	4
Additional paid-in capital	114,804	113,329
Treasury stock; 712,399 common shares at December 31, 2023		(869)
Accumulated deficit	(62,989)	(34,616)
Total stockholders' equity	51,819	77,848
Total liabilities and stockholders' equity	$ 668,718	$ 688,457

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parentheticals) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)
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)	35,446,627	35,302,549
Common stock, shares outstanding (in shares)	35,446,627	34,590,150
Treasury stock, common shares (in shares)		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) income				(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) income					(12,422)
Balance at Sep. 30, 2023	$ 4	112,575	$ (872)	(22,134)	89,573
Balance (in shares) at Sep. 30, 2023	35,302		715
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) income				(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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stocks vested		(91)	$ 12		(79)
Restricted stocks vested, (in shares)			(10)
Stock-based compensation		726			726
Net (loss) income				4,593	4,593
Balance at Sep. 30, 2023	$ 4	112,575	$ (872)	(22,134)	89,573
Balance (in shares) at Sep. 30, 2023	35,302		715
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) income				(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) income					(28,373)
Balance at Sep. 30, 2024	$ 4	114,804		(62,989)	51,819
Balance (in shares) at Sep. 30, 2024	35,447
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) income				(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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Options exercised and restricted stocks vested		(482)	$ 613		131
Options exercised and restricted stocks vested (in shares)	145		(503)
Stock-based compensation		706			706
Net (loss) income				(8,472)	(8,472)
Balance at Sep. 30, 2024	$ 4	$ 114,804		$ (62,989)	$ 51,819
Balance (in shares) at Sep. 30, 2024	35,447

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net loss	$ (28,373)	$ (12,422)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization	31,444	22,482
Amortization of debt issuance costs, discounts and premiums	2,236	2,042
Non-cash change in ROU operating lease assets	2,199	2,810
Stock-based compensation	2,155	2,129
Loss on disposal of assets	18	7
Gain on sale of Stockman's	(2,000)	0
Provision for (recovery of) credit losses	215	(13)
Gain on settlements	0	(384)
Other operating activities	0	437
Deferred income taxes	211	452
Increases and decreases in operating assets and liabilities:
Accounts receivable	(730)	(4,177)
Prepaid expenses, inventories and other	(752)	(643)
Income taxes payable	(489)	0
Operating lease liabilities	(1,969)	(2,654)
Contract liabilities	(5,361)	(1,611)
Accounts payable and other liabilities	203	(5,248)
Net cash (used in) provided by operating activities	(993)	3,207
Cash flows from investing activities:
Capital expenditures	(44,626)	(119,898)
Proceeds from insurance settlement related to property damage	0	355
Proceeds from sale of Stockman's	7,000	0
Acquisition of intangible assets	(1)	(50,251)
Other	(70)	0
Net cash used in investing activities	(37,697)	(169,794)
Cash flows from financing activities:
Proceeds from Senior Secured Notes due 2028 borrowings	0	40,000
Payment of debt discount and issuance costs	0	(6,494)
Borrowings under revolving credit facility	13,000	42,950
Repayment of revolving credit facility borrowings	(13,000)	(15,950)
Repayment of finance lease obligations	(1,257)	(1,159)
Proceeds from exercise of stock options	189	75
Other	(186)	(19)
Net cash (used in) provided by financing activities	(1,254)	59,403
Net decrease in cash, cash equivalents and restricted cash, including cash classified within current assets held for sale	(39,944)	(107,184)
Less: cash classified within current assets held for sale	(250)	0
Net decrease in cash, cash equivalents and restricted cash	(40,194)	(107,184)
Cash, cash equivalents and restricted cash, beginning of period	73,794	191,176
Cash, cash equivalents and restricted cash, end of period	33,600	83,992
Supplemental Cash Flow Disclosure:
Cash paid for interest, net of amounts capitalized	38,885	25,539
Cash paid for income taxes	489
Supplemental Schedule of Non-Cash Investing and Financing Activities:
Payables and accruals incurred for capital expenditures	4,678	23,065
Note payable incurred for asset acquisition		1,500
Accrued liability related to asset acquisition	15,994
Operating leases		30,178
Operating leases	$ 14,023	2,341
Financing leases		$ (151)

ORGANIZATION

ORGANIZATION	9 Months Ended
ORGANIZATION	Sep. 30, 2024
ORGANIZATION
ORGANIZATION	1. ORGANIZATION Organization. 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 (“Silver Slipper”) Hancock County, MS (near New Orleans) Rising Star Casino Resort (“Rising Star”) Rising Sun, IN (near Cincinnati) West Bronco Billy’s Casino (“Bronco Billy’s”) and * Cripple Creek, CO Grand Lodge Casino (“Grand Lodge”), Incline Village, NV Stockman’s Casino (“Stockman’s”), held for sale starting August 2024 Fallon, NV (one hour east of Reno) Contracted Sports Wagering One active sports wagering website (“skin”), plus two others that are currently idle Colorado One active sports wagering website (“skin”), 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. 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. Additionally, we benefit from three active permitted sports wagering skins – one each in Colorado, Indiana, and Illinois. 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 August 2024, we entered into an agreement to sell Stockman’s to a privately-owned company (see Note 3 For additional information about the Company’s segments, see Note 9

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	Sep. 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. Accounts receivable consists of the following: (In thousands) September 30, December 31, 2024 2023 Casino $ 628 $ 343 Trade Accounts 3,326 3,479 Other Operations, excluding Contracted Sports Wagering 196 185 Contracted Sports Wagering 1 185 1,932 Other 1,665 582 6,000 6,521 Less: Provision for credit losses (153) (1,189) $ 5,847 $ 5,332 __________ (1) Starting in July 2024, annual prepayments of contracted revenue are now required in all of the Company’s active sports wagering contracts. 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 215 (13) Write-offs (1,251) — Balance at September 30 $ 153 $ 236 At September 30, 2024, estimated loss reserves reflect activity related to two online sports wagering agreements, which remain active in Colorado and Indiana. In July 2024, the Company’s respective subsidiaries in Colorado and Indiana each amended its respective sports wagering agreement, resulting in the collection of a total of $2.1 million. Specifically, these amendments settled overdue payments owed to the Company, reduced certain future annual amounts due to the Company under the sports wagering agreements, and now requires such annual fees to be paid in advance of each annual term. Except as set forth in the respective amendments, all other terms of the sports wagering agreements remain in full force and effect. Management regularly evaluates the adequacy of the Company’s recorded reserves. At September 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 7 The minimum present value of the long-term obligation for the Company’s gaming license in Illinois consisted of the following, as discussed above: (In thousands) September 30, December 31, 2024 2023 Minimum IGB Reconciliation Fee* $ 42,574 $ 22,092 Less: Amount representing interest (11,675) (7,187) Minimum present value of IGB Reconciliation Fee $ 30,899 $ 14,905 __________ * Calculated based upon gaming revenues generated through September 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 September 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 September 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. Colorado. 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, all of the Company’s active Sports Agreements require the prepayment of contracted revenue. Deferred revenues consisted of the following, as discussed above: (In thousands) September 30, December 31, Balance Sheet Location 2024 2023 Deferred revenue, current Other accrued expenses and current liabilities $ 2,250 $ 6,175 Deferred revenue, net of current portion Contract liabilities, net of current portion 4,756 6,192 $ 7,006 $ 12,367 Other Revenues. Revenue by Source. Note 9 Income Taxes. Reclassifications. Earnings (Loss) Per Share. Stockholders’ Equity and Stock Incentive Plans. 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.

ASSETS HELD FOR SALE

ASSETS HELD FOR SALE	9 Months Ended
ASSETS HELD FOR SALE	Sep. 30, 2024
ASSETS HELD FOR SALE
ASSETS HELD FOR SALE	3. ASSETS HELD FOR SALE On August 28, 2024, the Company entered into an agreement with privately-owned Clarity Game Propco LLC (“Propco”) and Clarity Game Opco LLC (“Opco” and together with Propco, “Clarity”) to sell Stockman’s for total gross proceeds of $9.2 million, plus certain expected working capital adjustments at closing. The sale was designed to be completed in two phases: the sale of Stockman’s real property for $7.0 million to Propco, which closed on September 27, 2024; and the sale of certain remaining operating assets and related liabilities for $2.2 million (excluding any expected positive adjustments for working capital) to Opco, upon the receipt of customary gaming approvals. Since the disposition of Stockman’s is not expected to have a major effect on the Company’s operations and financial results, such sale does not qualify for presentation as discontinued operations. To accommodate Clarity while it seeks its gaming approvals, the Company will temporarily continue to operate Stockman’s under the West segment. Upon the second closing that is expected to occur in early 2025, the Company will transfer all operations of Stockman’s to Opco. During the third quarter of 2024, the Company recognized a $2.0 million gain from the sale of Stockman’s real property to operating income, net of $0.7 million in transaction costs. The carrying amounts of Stockman’s assets and liabilities held for sale consisted of the following: (In thousands) September 30, 2024 ASSETS Current assets Cash $ 250 Inventories 46 Total current assets held for sale 296 Property and equipment, net 378 Goodwill 1,809 Other intangible assets, net 4 Total assets held for sale $ 2,487 LIABILITIES Current liabilities Other accrued expenses and current liabilities $ 79 Total liabilities related to assets held for sale $ 79

LEASES

LEASES	9 Months Ended
LEASES	Sep. 30, 2024
LEASES
LEASES	4. 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 material lease terms, including extensions, range from greater than one year to approximately 97 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 2034. Note 5 12-month In July 2024, the lease was further amended to extend the 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, on different terms than above. 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 the extended term. Except as set forth in the amendment, all other terms of the Hyatt Lease remain in full force and effect. Accordingly, the Company has remeasured this lease’s related ROU asset and liability balances upon the effective date of this amendment. Corporate Office Lease through April 2030. Stockman’s Sale-Leaseback. Note 3 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 Nine Months Ended Classification within September 30, September 30, Lease Costs Statement of Operations 2024 2023 2024 2023 Operating leases: Fixed/base rent Selling, General and Administrative Expenses $ 2,030 $ 2,008 $ 5,957 $ 5,970 Short-term payments Selling, General and Administrative Expenses 31 — 31 22 Variable payments Selling, General and Administrative Expenses 340 281 919 935 Finance leases: Amortization of leased assets Depreciation and Amortization 382 412 1,131 1,113 Interest on lease liabilities Interest Expense, Net 61 89 210 309 Total lease costs $ 2,844 $ 2,790 $ 8,248 $ 8,349 Leases recorded on the balance sheet consist of the following: (In thousands) September 30, December 31, Leases Balance Sheet Classification 2024 2023 Assets Operating lease assets Operating Lease Right-of-Use Assets, Net $ 56,528 $ 44,704 Finance lease assets Property and Equipment, Net (1) 4,284 4,409 Finance lease assets Finance Lease Right-of-Use Assets, Net (2) 1,312 2,318 Total lease assets $ 62,124 $ 51,431 Liabilities Current Operating Current Portion of Operating Lease Obligations $ 3,964 $ 4,784 Finance Current Portion of Finance Lease Obligations 1,897 1,694 Noncurrent Operating Operating Lease Obligations, Net of Current Portion 53,122 40,248 Finance Finance Lease Obligations, Net of Current Portion 1,245 2,705 Total lease liabilities $ 60,228 $ 49,431 __________ (1) Finance lease assets are recorded net of accumulated amortization of $2.9 million at September 30, 2024 and $2.7 million at 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 at September 30, 2024 are summarized as follows: (In thousands) Operating Finance Years Ending December 31, Leases Leases 2024 (excluding the nine months ended September 30, 2024) $ 2,007 $ 489 2025 7,883 1,721 2026 7,147 652 2027 6,847 489 2028 6,895 — Thereafter 326,137 — Total future minimum lease payments 356,916 3,351 Less: Amount representing interest (299,830) (209) Present value of lease liabilities 57,086 3,142 Less: Current lease obligations (3,964) (1,897) Long-term lease obligations $ 53,122 $ 1,245 Other information related to lease term and discount rate is as follows: September 30, December 31, Lease Term and Discount Rate 2024 2023 Weighted-average remaining lease term Operating leases 55.6 years 67.9 years Finance leases 2.2 years 2.8 years Weighted-average discount rate Operating leases 10.85 % 10.91 % Finance leases 7.00 % 7.46 % Supplemental cash flow information related to leases is as follows: (In thousands) Nine Months Ended September 30, Cash paid for amounts included in the measurement of lease liabilities: 2024 2023 Operating cash flows for operating leases $ 5,727 $ 5,813 Operating cash flows for finance leases $ 210 $ 309 Financing cash flows for finance leases $ 1,257 $ 1,159

LONG-TERM DEBT

LONG-TERM DEBT	9 Months Ended
LONG-TERM DEBT	Sep. 30, 2024
LONG-TERM DEBT.
LONG-TERM DEBT	5 . LONG-TERM DEBT Long-term debt consists of the following: (In thousands) September 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 (9,611) (11,847) $ 467,389 $ 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 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 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 on 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. At September 30, 2024, the Company complied 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	9 Months Ended
INCOME TAXES	Sep. 30, 2024
INCOME TAXES
INCOME TAXES	6. INCOME TAXES The Company’s effective income tax rates for the three and nine months ended September 30, 2024 were 1.5% and (0.7%), respectively, compared to effective income tax rates of (1.6%) and (3.8%) 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, and changes in valuation allowances. 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. At September 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	9 Months Ended
COMMITMENTS AND CONTINGENCIES	Sep. 30, 2024
COMMITMENTS AND CONTINGENCIES.
COMMITMENTS AND CONTINGENCIES.	7. 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	9 Months Ended
EARNINGS (LOSS) PER SHARE	Sep. 30, 2024
EARNINGS (LOSS) PER SHARE
EARNINGS (LOSS) PER SHARE	8. EARNINGS (LOSS) PER SHARE The table below reconciles basic and diluted (loss) earnings per share of common stock: (In thousands) Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Numerator: Net (loss) income ─ basic $ (8,472) $ 4,593 $ (28,373) $ (12,422) Net (loss) income ─ diluted $ (8,472) $ 4,593 $ (28,373) $ (12,422) Denominator: Weighted-average common shares ─ basic 34,944 34,583 34,749 34,497 Potential dilution from share-based awards — 2,090 — — Weighted-average common and common share equivalents ─ diluted 34,944 36,673 34,749 34,497 Anti-dilutive share-based awards excluded from the calculation of diluted (loss) earnings per share 3,580 1,108 4,067 3,998

SEGMENT REPORTING AND DISAGGREG

SEGMENT REPORTING AND DISAGGREGATED REVENUE	9 Months Ended
SEGMENT REPORTING AND DISAGGREGATED REVENUE	Sep. 30, 2024
SEGMENT REPORTING AND DISAGGREGATED REVENUE
SEGMENT REPORTING AND DISAGGREGATED REVENUE	9. 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, impairment charges, asset write-offs, recoveries, gain (loss) from asset sales and 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 September 30, 2024 Contracted Sports Midwest & South West Wagering Total Revenues Casino $ 41,855 $ 14,261 $ — $ 56,116 Food and beverage 8,866 2,234 — 11,100 Hotel 2,136 2,557 — 4,693 Other operations, including 1,653 335 1,790 3,778 $ 54,510 $ 19,387 $ 1,790 $ 75,687 Adjusted Segment EBITDA $ 10,249 $ 1,198 $ 2,037 $ 13,484 Other operating costs and expenses: Depreciation and amortization (10,493) Corporate expenses (1,742) Project development costs (52) Preopening costs (42) Gain on sale of Stockman’s 2,000 Stock-based compensation (706) Operating income 2,449 Other expense: Interest expense, net (11,047) (11,047) Loss before income taxes (8,598) Income tax benefit (126) Net loss $ (8,472) (In thousands) Three Months Ended September 30, 2023 Contracted Sports Midwest & South West Wagering Total Revenues Casino $ 40,341 $ 9,899 $ — $ 50,240 Food and beverage 8,242 844 — 9,086 Hotel 2,369 191 — 2,560 Other operations, 1,601 151 7,905 9,657 $ 52,553 $ 11,085 $ 7,905 $ 71,543 Adjusted Segment EBITDA $ 11,750 $ 2,308 $ 7,852 $ 21,910 Other operating costs and expenses: Depreciation and amortization (8,468) Corporate expenses (1,280) Project development costs (21) Preopening costs (1,051) Loss on disposal of assets (7) Stock-based compensation (726) Operating income 10,357 Other expense: Interest expense, net (5,867) Gain on settlements 29 (5,838) Income before income taxes 4,519 Income tax benefit (74) Net income $ 4,593 (In thousands) Nine Months Ended September 30, 2024 Contracted Sports Midwest & South West Wagering Total Revenues Casino $ 125,815 $ 36,659 $ — $ 162,474 Food and beverage 26,059 5,213 — 31,272 Hotel 6,269 5,018 — 11,287 Other operations, 6,456 681 6,933 14,070 $ 164,599 $ 47,571 $ 6,933 $ 219,103 Adjusted Segment EBITDA $ 35,206 $ 1,928 $ 6,549 $ 43,683 Other operating costs and expenses: Depreciation and amortization (31,444) Corporate expenses (5,391) Project development costs (55) Preopening costs (2,462) Loss on disposal of assets (18) Gain on sale of Stockman’s 2,000 Stock-based compensation (2,155) Operating income 4,158 Other expense: Interest expense, net (32,320) (32,320) Loss before income taxes (28,162) Income tax provision 211 Net loss $ (28,373) (In thousands) Nine Months Ended September 30, 2023 Contracted Sports Midwest & South West Wagering Total Revenues Casino $ 107,474 $ 24,112 $ — $ 131,586 Food and beverage 23,032 2,387 — 25,419 Hotel 6,638 414 — 7,052 Other operations, 6,123 384 10,467 16,974 $ 143,267 $ 27,297 $ 10,467 $ 181,031 Adjusted Segment EBITDA $ 31,830 $ 2,538 $ 10,373 $ 44,741 Other operating costs and expenses: Depreciation and amortization (22,482) Corporate expenses (3,479) Project development costs (45) Preopening costs (12,634) Loss on disposal of assets (7) Stock-based compensation (2,129) Operating income 3,965 Other (expense) income: Interest expense, net (16,319) Gain on settlements 384 (15,935) Loss before income taxes (11,970) Income tax provision 452 Net loss $ (12,422) (In thousands) September 30, December 31, 2024 2023 Total Assets Midwest & South $ 294,674 $ 298,072 West 364,446 372,875 Contracted Sports Wagering 185 977 Corporate and Other 9,413 16,533 $ 668,718 $ 688,457

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (8,472)	$ (8,629)	$ (11,272)	$ 4,593	$ (5,600)	$ (11,415)	$ (28,373)	$ (12,422)

Insider Trading Arrangements

Insider Trading Arrangements - Lewis Fanger	3 Months Ended
Insider Trading Arrangements - Lewis Fanger	Sep. 30, 2024 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	Insider Trading Arrangements
Name	Lewis Fanger
Title	Chief Financial Officer
Aggregate Available	250,000
Rule 10b5-1 Arrangement Modified	true
Modified Date	August 22, 2024

BASIS OF PRESENTATION AND SIG_2

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 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. Accounts receivable consists of the following: (In thousands) September 30, December 31, 2024 2023 Casino $ 628 $ 343 Trade Accounts 3,326 3,479 Other Operations, excluding Contracted Sports Wagering 196 185 Contracted Sports Wagering 1 185 1,932 Other 1,665 582 6,000 6,521 Less: Provision for credit losses (153) (1,189) $ 5,847 $ 5,332 __________ (1) Starting in July 2024, annual prepayments of contracted revenue are now required in all of the Company’s active sports wagering contracts. 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 215 (13) Write-offs (1,251) — Balance at September 30 $ 153 $ 236 At September 30, 2024, estimated loss reserves reflect activity related to two online sports wagering agreements, which remain active in Colorado and Indiana. In July 2024, the Company’s respective subsidiaries in Colorado and Indiana each amended its respective sports wagering agreement, resulting in the collection of a total of $2.1 million. Specifically, these amendments settled overdue payments owed to the Company, reduced certain future annual amounts due to the Company under the sports wagering agreements, and now requires such annual fees to be paid in advance of each annual term. Except as set forth in the respective amendments, all other terms of the sports wagering agreements remain in full force and effect. Management regularly evaluates the adequacy of the Company’s recorded reserves. At September 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 7 The minimum present value of the long-term obligation for the Company’s gaming license in Illinois consisted of the following, as discussed above: (In thousands) September 30, December 31, 2024 2023 Minimum IGB Reconciliation Fee* $ 42,574 $ 22,092 Less: Amount representing interest (11,675) (7,187) Minimum present value of IGB Reconciliation Fee $ 30,899 $ 14,905 __________ * Calculated based upon gaming revenues generated through September 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 September 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 September 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. Colorado. 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, all of the Company’s active Sports Agreements require the prepayment of contracted revenue. Deferred revenues consisted of the following, as discussed above: (In thousands) September 30, December 31, Balance Sheet Location 2024 2023 Deferred revenue, current Other accrued expenses and current liabilities $ 2,250 $ 6,175 Deferred revenue, net of current portion Contract liabilities, net of current portion 4,756 6,192 $ 7,006 $ 12,367 Other Revenues. Revenue by Source. Note 9
Income Taxes	Income Taxes.
Reclassifications	Reclassifications.
Earnings (Loss) Per Share	Earnings (Loss) Per Share.
Stockholders' Equity and Stock Incentive Plans	Stockholders’ Equity and Stock Incentive Plans.
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)	9 Months Ended
ORGANIZATION (Tables)	Sep. 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 (“Silver Slipper”) Hancock County, MS (near New Orleans) Rising Star Casino Resort (“Rising Star”) Rising Sun, IN (near Cincinnati) West Bronco Billy’s Casino (“Bronco Billy’s”) and * Cripple Creek, CO Grand Lodge Casino (“Grand Lodge”), Incline Village, NV Stockman’s Casino (“Stockman’s”), held for sale starting August 2024 Fallon, NV (one hour east of Reno) Contracted Sports Wagering One active sports wagering website (“skin”), plus two others that are currently idle Colorado One active sports wagering website (“skin”), 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)	9 Months Ended
	Sep. 30, 2024
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES
Schedule of Accounts receivable	(In thousands) September 30, December 31, 2024 2023 Casino $ 628 $ 343 Trade Accounts 3,326 3,479 Other Operations, excluding Contracted Sports Wagering 196 185 Contracted Sports Wagering 1 185 1,932 Other 1,665 582 6,000 6,521 Less: Provision for credit losses (153) (1,189) $ 5,847 $ 5,332 __________ (1) Starting in July 2024, annual prepayments of contracted revenue are now required in all of the Company’s active sports wagering contracts.
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 215 (13) Write-offs (1,251) — Balance at September 30 $ 153 $ 236
Schedule of other indefinite-lived intangible assets	(In thousands) September 30, December 31, 2024 2023 Minimum IGB Reconciliation Fee* $ 42,574 $ 22,092 Less: Amount representing interest (11,675) (7,187) Minimum present value of IGB Reconciliation Fee $ 30,899 $ 14,905 __________ * Calculated based upon gaming revenues generated through September 2024. This one-time fee will be paid in six annual installments beginning in February 2026.
Schedule of Deferred revenues	(In thousands) September 30, December 31, Balance Sheet Location 2024 2023 Deferred revenue, current Other accrued expenses and current liabilities $ 2,250 $ 6,175 Deferred revenue, net of current portion Contract liabilities, net of current portion 4,756 6,192 $ 7,006 $ 12,367

ASSETS HELD FOR SALE (Tables)

ASSETS HELD FOR SALE (Tables)	9 Months Ended
ASSETS HELD FOR SALE (Tables)	Sep. 30, 2024
ASSETS HELD FOR SALE
Schedule of carrying amounts of assets and liabilities held for sale	(In thousands) September 30, 2024 ASSETS Current assets Cash $ 250 Inventories 46 Total current assets held for sale 296 Property and equipment, net 378 Goodwill 1,809 Other intangible assets, net 4 Total assets held for sale $ 2,487 LIABILITIES Current liabilities Other accrued expenses and current liabilities $ 79 Total liabilities related to assets held for sale $ 79

LEASES (Tables)

LEASES (Tables)	9 Months Ended
LEASES (Tables)	Sep. 30, 2024
LEASES
Components of Lease Expense	The components of lease expenses are as follows: (In thousands) Three Months Ended Nine Months Ended Classification within September 30, September 30, Lease Costs Statement of Operations 2024 2023 2024 2023 Operating leases: Fixed/base rent Selling, General and Administrative Expenses $ 2,030 $ 2,008 $ 5,957 $ 5,970 Short-term payments Selling, General and Administrative Expenses 31 — 31 22 Variable payments Selling, General and Administrative Expenses 340 281 919 935 Finance leases: Amortization of leased assets Depreciation and Amortization 382 412 1,131 1,113 Interest on lease liabilities Interest Expense, Net 61 89 210 309 Total lease costs $ 2,844 $ 2,790 $ 8,248 $ 8,349
Balance Sheet Information For Leases	Leases recorded on the balance sheet consist of the following: (In thousands) September 30, December 31, Leases Balance Sheet Classification 2024 2023 Assets Operating lease assets Operating Lease Right-of-Use Assets, Net $ 56,528 $ 44,704 Finance lease assets Property and Equipment, Net (1) 4,284 4,409 Finance lease assets Finance Lease Right-of-Use Assets, Net (2) 1,312 2,318 Total lease assets $ 62,124 $ 51,431 Liabilities Current Operating Current Portion of Operating Lease Obligations $ 3,964 $ 4,784 Finance Current Portion of Finance Lease Obligations 1,897 1,694 Noncurrent Operating Operating Lease Obligations, Net of Current Portion 53,122 40,248 Finance Finance Lease Obligations, Net of Current Portion 1,245 2,705 Total lease liabilities $ 60,228 $ 49,431 __________ (1) Finance lease assets are recorded net of accumulated amortization of $2.9 million at September 30, 2024 and $2.7 million at 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.
Operating Lease, Liability, Maturity	Maturities of lease liabilities at September 30, 2024 are summarized as follows: (In thousands) Operating Finance Years Ending December 31, Leases Leases 2024 (excluding the nine months ended September 30, 2024) $ 2,007 $ 489 2025 7,883 1,721 2026 7,147 652 2027 6,847 489 2028 6,895 — Thereafter 326,137 — Total future minimum lease payments 356,916 3,351 Less: Amount representing interest (299,830) (209) Present value of lease liabilities 57,086 3,142 Less: Current lease obligations (3,964) (1,897) Long-term lease obligations $ 53,122 $ 1,245
Finance Lease, Liability, Maturity	(In thousands) Operating Finance Years Ending December 31, Leases Leases 2024 (excluding the nine months ended September 30, 2024) $ 2,007 $ 489 2025 7,883 1,721 2026 7,147 652 2027 6,847 489 2028 6,895 — Thereafter 326,137 — Total future minimum lease payments 356,916 3,351 Less: Amount representing interest (299,830) (209) Present value of lease liabilities 57,086 3,142 Less: Current lease obligations (3,964) (1,897) Long-term lease obligations $ 53,122 $ 1,245
Other Information Related To Lease Term And Discount Rate	Other information related to lease term and discount rate is as follows: September 30, December 31, Lease Term and Discount Rate 2024 2023 Weighted-average remaining lease term Operating leases 55.6 years 67.9 years Finance leases 2.2 years 2.8 years Weighted-average discount rate Operating leases 10.85 % 10.91 % Finance leases 7.00 % 7.46 %
Supplemental Cash Flow Information Related To Leases	(In thousands) Nine Months Ended September 30, Cash paid for amounts included in the measurement of lease liabilities: 2024 2023 Operating cash flows for operating leases $ 5,727 $ 5,813 Operating cash flows for finance leases $ 210 $ 309 Financing cash flows for finance leases $ 1,257 $ 1,159

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	9 Months Ended
LONG-TERM DEBT (Tables)	Sep. 30, 2024
LONG-TERM DEBT.
Schedule of Long-Term Debt	(In thousands) September 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 (9,611) (11,847) $ 467,389 $ 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)	9 Months Ended
EARNINGS (LOSS) PER SHARE (Tables)	Sep. 30, 2024
EARNINGS (LOSS) PER SHARE
Schedule of Earnings Per Share, Basic and Diluted	The table below reconciles basic and diluted (loss) earnings per share of common stock: (In thousands) Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Numerator: Net (loss) income ─ basic $ (8,472) $ 4,593 $ (28,373) $ (12,422) Net (loss) income ─ diluted $ (8,472) $ 4,593 $ (28,373) $ (12,422) Denominator: Weighted-average common shares ─ basic 34,944 34,583 34,749 34,497 Potential dilution from share-based awards — 2,090 — — Weighted-average common and common share equivalents ─ diluted 34,944 36,673 34,749 34,497 Anti-dilutive share-based awards excluded from the calculation of diluted (loss) earnings per share 3,580 1,108 4,067 3,998

SEGMENT REPORTING AND DISAGGR_2

SEGMENT REPORTING AND DISAGGREGATED REVENUE (Tables)	9 Months Ended
SEGMENT REPORTING AND DISAGGREGATED REVENUE (Tables)	Sep. 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 September 30, 2024 Contracted Sports Midwest & South West Wagering Total Revenues Casino $ 41,855 $ 14,261 $ — $ 56,116 Food and beverage 8,866 2,234 — 11,100 Hotel 2,136 2,557 — 4,693 Other operations, including 1,653 335 1,790 3,778 $ 54,510 $ 19,387 $ 1,790 $ 75,687 Adjusted Segment EBITDA $ 10,249 $ 1,198 $ 2,037 $ 13,484 Other operating costs and expenses: Depreciation and amortization (10,493) Corporate expenses (1,742) Project development costs (52) Preopening costs (42) Gain on sale of Stockman’s 2,000 Stock-based compensation (706) Operating income 2,449 Other expense: Interest expense, net (11,047) (11,047) Loss before income taxes (8,598) Income tax benefit (126) Net loss $ (8,472) (In thousands) Three Months Ended September 30, 2023 Contracted Sports Midwest & South West Wagering Total Revenues Casino $ 40,341 $ 9,899 $ — $ 50,240 Food and beverage 8,242 844 — 9,086 Hotel 2,369 191 — 2,560 Other operations, 1,601 151 7,905 9,657 $ 52,553 $ 11,085 $ 7,905 $ 71,543 Adjusted Segment EBITDA $ 11,750 $ 2,308 $ 7,852 $ 21,910 Other operating costs and expenses: Depreciation and amortization (8,468) Corporate expenses (1,280) Project development costs (21) Preopening costs (1,051) Loss on disposal of assets (7) Stock-based compensation (726) Operating income 10,357 Other expense: Interest expense, net (5,867) Gain on settlements 29 (5,838) Income before income taxes 4,519 Income tax benefit (74) Net income $ 4,593 (In thousands) Nine Months Ended September 30, 2024 Contracted Sports Midwest & South West Wagering Total Revenues Casino $ 125,815 $ 36,659 $ — $ 162,474 Food and beverage 26,059 5,213 — 31,272 Hotel 6,269 5,018 — 11,287 Other operations, 6,456 681 6,933 14,070 $ 164,599 $ 47,571 $ 6,933 $ 219,103 Adjusted Segment EBITDA $ 35,206 $ 1,928 $ 6,549 $ 43,683 Other operating costs and expenses: Depreciation and amortization (31,444) Corporate expenses (5,391) Project development costs (55) Preopening costs (2,462) Loss on disposal of assets (18) Gain on sale of Stockman’s 2,000 Stock-based compensation (2,155) Operating income 4,158 Other expense: Interest expense, net (32,320) (32,320) Loss before income taxes (28,162) Income tax provision 211 Net loss $ (28,373) (In thousands) Nine Months Ended September 30, 2023 Contracted Sports Midwest & South West Wagering Total Revenues Casino $ 107,474 $ 24,112 $ — $ 131,586 Food and beverage 23,032 2,387 — 25,419 Hotel 6,638 414 — 7,052 Other operations, 6,123 384 10,467 16,974 $ 143,267 $ 27,297 $ 10,467 $ 181,031 Adjusted Segment EBITDA $ 31,830 $ 2,538 $ 10,373 $ 44,741 Other operating costs and expenses: Depreciation and amortization (22,482) Corporate expenses (3,479) Project development costs (45) Preopening costs (12,634) Loss on disposal of assets (7) Stock-based compensation (2,129) Operating income 3,965 Other (expense) income: Interest expense, net (16,319) Gain on settlements 384 (15,935) Loss before income taxes (11,970) Income tax provision 452 Net loss $ (12,422)
Schedule of Total Assets By Segment	(In thousands) September 30, December 31, 2024 2023 Total Assets Midwest & South $ 294,674 $ 298,072 West 364,446 372,875 Contracted Sports Wagering 185 977 Corporate and Other 9,413 16,533 $ 668,718 $ 688,457

ORGANIZATION - Resort (Details)

ORGANIZATION - Resort (Details)	Sep. 30, 2024 item
ORGANIZATION
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

BASIS OF PRESENTATION AND SIG_4

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Accounts Receivable (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Basis Of Presentation [Line Items]
Accounts receivable	$ 6,000		$ 6,521
Less: Provision for credit losses	(153)	$ (236)	(1,189)	$ (249)
Accounts receivable, net	5,847		5,332
Current period provision for (recovery of) credit losses	215	$ (13)
Casino
Basis Of Presentation [Line Items]
Accounts receivable	628		343
Trade Accounts
Basis Of Presentation [Line Items]
Accounts receivable	3,326		3,479
Other Operations, excluding Contracted Sports Wagering
Basis Of Presentation [Line Items]
Accounts receivable	196		185
Contracted Sports Wagering
Basis Of Presentation [Line Items]
Accounts receivable	185		1,932
Other
Basis Of Presentation [Line Items]
Accounts receivable	$ 1,665		$ 582

BASIS OF PRESENTATION AND SIG_5

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Credit Loss Recognized (Details) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended
	Jul. 31, 2024	Sep. 30, 2024	Sep. 30, 2023
ACCOUNTS RECEIVABLE
Beginning Balance		$ 1,189	$ 249
Current period provision for (recovery of) credit losses		215	(13)
Write-offs		(1,251)
Ending Balance		$ 153	$ 236
Cash inflow associated with settlement	$ 2,100

BASIS OF PRESENTATION AND SIG_6

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Other Intangible Assets (Details) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended
	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
GOODWILL AND OTHER INTANGIBLES
Acquisition of intangible assets		$ 1	$ 50,251
Amortized intangible assets of company retired		7,800
Intangible assets accumulated amortization		400		$ 8,100
Gaming Licenses \| Illinois
GOODWILL AND OTHER INTANGIBLES
Acquisition of intangible assets	$ 50,300
IGB Reconciliation Fee		42,574		22,092
Less: Amount representing interest		(11,675)		(7,187)
Present value of IGB Reconciliation Fee		$ 30,899		$ 14,905

BASIS OF PRESENTATION AND SIG_7

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Deferred Revenues (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Deferred revenue, net of current portion	$ 4,756	$ 6,192
Contract with Customer, Liability, Total	7,006	12,367
Other accrued expenses and current liabilities
Deferred revenue, current	2,250	6,175
Contract liabilities, net of current portion
Deferred revenue, net of current portion	$ 4,756	$ 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	9 Months Ended	14 Months Ended	34 Months Ended	52 Months Ended
	Jun. 30, 2024 USD ($)	Sep. 30, 2024 USD ($) item	Sep. 30, 2024 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2024 USD ($)	Jul. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Basis Of Presentation [Line Items]
Liabilities in other accrued expenses		$ 0.9	$ 0.9	$ 0.9	$ 0.9		$ 0.8
COLORADO
Basis Of Presentation [Line Items]
Minimum revenues receivable						$ 0.5
Number of idle skins operated itself or utilize replacement operators \| item		2
INDIANA
Basis Of Presentation [Line Items]
Minimum revenues receivable						$ 0.5
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
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)	Sep. 30, 2024
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES
Lease, Practical Expedient, Lessor Single Lease Component [true false]	true

BASIS OF PRESENTATION AND SI_10

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Stockholders' Equity and Stock Incentive Plans (Details) - Chief Executive Officer - Employee Stock Option - USD ($)	1 Months Ended	3 Months Ended	4 Months Ended	9 Months Ended
	Oct. 31, 2024	Sep. 30, 2024	Oct. 31, 2024	Sep. 30, 2024	Jun. 30, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for issuance		943,834		943,834	943,834
Shares Returned To Offset Exercise Costs		180,794		180,794
Shares Sold Under Trading Plan		70,530
Share-Based Payment Arrangement, Exercise Cost of Option				$ 898,546
Award terms				10 years
Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares Sold Under Trading Plan	154,470		225,000

ASSETS HELD FOR SALE (Details)

ASSETS HELD FOR SALE (Details) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
ASSETS HELD FOR SALE (Details) - USD ($) $ in Thousands	Sep. 27, 2024	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023	Aug. 28, 2024
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration for sale	$ 2,200
Amount of proceeds from sale of real estate property			$ 7,000	$ 0
Gain from the sale of real property		$ 2,000	2,000	$ 0
Current assets
Cash		250	250
Inventories		46	46
Total current assets held for sale		296	296
Property and equipment, net		378	378
Goodwill		1,809	1,809
Other intangible assets, net		4	4
Total assets held for sale		2,487	2,487
Current liabilities
Other accrued expenses and current liabilities		79	79
Total liabilities related to assets held for sale		79	$ 79
Disposal Group, Held-for-Sale, Not Discontinued Operations [Member] \| Stockman's Casino
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration for sale					$ 9,200
Amount of proceeds from sale of real estate property	$ 7,000
Gain from the sale of real property		2,000
Transaction costs		$ 700

LEASES - Narrative (Details)

1 Months Ended

9 Months Ended

12 Months Ended

63 Months Ended

108 Months Ended

120 Months Ended

Sep. 27, 2024 USD ($)

Feb. 28, 2026 USD ($)

Feb. 28, 2025 USD ($)

Sep. 30, 2024 USD ($) room

Jul. 31, 2024 USD ($)

Jan. 31, 2023 USD ($) a

Sep. 30, 2024 USD ($) a ft² room lease Option

Dec. 31, 2025 USD ($)

Dec. 31, 2004 USD ($) a

Apr. 30, 2030

Jan. 31, 2035 USD ($)

Dec. 31, 2034

Mar. 31, 2020 USD ($)

Lessee, Lease, Description [Line Items]

Number of leases in which company is lessor | lease

Adjacent area parcel | a

Monthly rental amount

$ 50,000

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

Annual increase in rent (as a percentage)

Corporate Office Lease

Lessee, Lease, Description [Line Items]

Rent

$ 200,000

Annual increase in rent (as a percentage)

Lease extension term

5 years

Office lease, square feet | ft²

4,479

Corporate Office Lease | Scenario, Forecast

Lessee, Lease, Description [Line Items]

Rent

$ 230,000

$ 170,000

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

Land lease | Land Lease Of Silver Slipper Casino Site

Lessee, Lease, Description [Line Items]

Percentage of gross gaming revenue

Land lease | Land Lease Of Silver Slipper Casino Site

Lessee, Lease, Description [Line Items]

Gross gaming revenue (in excess of)

$ 3,650,000

Cost to exercise purchase option

$ 15,500,000

Retained interest in percentages of net income

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

Land lease | Land Lease Of Silver Slipper Casino Site | Parcel

Lessee, Lease, Description [Line Items]

Area of land subject to ground lease | a

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

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

$ 1,800,000

1,800,000

Option price at lease maturity

$ 1

Option to purchase land area | a

3.01

Minimum

Lessee, Lease, Description [Line Items]

Lease terms

1 year

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

97 years

LEASES - Lease Expense (Details

LEASES - Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
LEASES - Lease Expense (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
LEASES
Fixed/base rent	$ 2,030	$ 2,008	$ 5,957	$ 5,970
Short-term payments	31		31	22
Variable payments	340	281	919	935
Amortization of leased assets	382	412	1,131	1,113
Interest on lease liabilities	61	89	210	309
Total lease costs	$ 2,844	$ 2,790	$ 8,248	$ 8,349

LEASES - Balance Sheet Details

LEASES - Balance Sheet Details (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
LEASES
Operating lease assets	$ 56,528	$ 44,704
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Operating lease assets	Operating lease assets
Finance lease assets	$ 4,284	$ 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	$ 1,312	$ 2,318
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Finance lease assets	Finance lease assets
Total lease assets	$ 62,124	$ 51,431
Current operating lease liability	$ 3,964	$ 4,784
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Current operating lease liability	Current operating lease liability
Current finance lease liability	$ 1,897	$ 1,694
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Current finance lease liability	Current finance lease liability
Noncurrent operating lease liability	$ 53,122	$ 40,248
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Noncurrent operating lease liability	Noncurrent operating lease liability
Noncurrent finance lease liability	$ 1,245	$ 2,705
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Noncurrent finance lease liability	Noncurrent finance lease liability
Total lease liabilities	$ 60,228	$ 49,431
Finance Lease, Right-of-Use Asset, Accumulated Amortization	$ 2,900	$ 2,700

LEASES - Maturities of Lease Li

LEASES - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Operating Leases
2024 (excluding the nine months ended September 30, 2024)	$ 2,007
2025	7,883
2026	7,147
2027	6,847
2028	6,895
Thereafter	326,137
Total future minimum lease payments	356,916
Less: Amount representing interest	(299,830)
Present value of lease liabilities	57,086
Less: Current lease obligations	(3,964)	$ (4,784)
Long-term lease obligations	53,122	40,248
Financing Lease
2024 (excluding the nine months ended September 30, 2024)	489
2025	1,721
2026	652
2027	489
Total future minimum lease payments	3,351
Less: Amount representing interest	(209)
Present value of lease liabilities	3,142
Less: Current lease obligations	(1,897)	(1,694)
Long-term lease obligations	$ 1,245	$ 2,705

LEASES - Lease Term and Discoun

LEASES - Lease Term and Discount Rate (Details)	Sep. 30, 2024	Dec. 31, 2023
LEASES
Weighted-average remaining lease term, operating leases	55 years 7 months 6 days	67 years 10 months 24 days
Weighted-average remaining lease term, finance leases	2 years 2 months 12 days	2 years 9 months 18 days
Weighted-average discount rate, operating leases	10.85%	10.91%
Weighted-average discount rate, finance leases	7%	7.46%

LEASES - Supplemental Cash Flow

LEASES - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$ 5,727	$ 5,813
Operating cash flows for finance leases	210	309
Financing cash flows for finance leases	$ 1,257	$ 1,159

LONG-TERM DEBT - Long-Term Debt

LONG-TERM DEBT - Long-Term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Feb. 07, 2022	Feb. 12, 2021
Debt Instrument [Line Items]
Less: Unamortized debt issuance costs and discounts/premiums, net	$ (9,611)	$ (11,847)
Long-term debt, net	467,389	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	$ 451,300	$ 423,000

LONG-TERM DEBT - Senior Secured

LONG-TERM DEBT - Senior Secured Notes Narrative (Details) $ in Thousands			9 Months Ended
	Feb. 21, 2023 USD ($)	Feb. 07, 2022 USD ($) item	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	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	Sep. 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		9 Months Ended
INCOME TAXES - Narrative (Details)	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
INCOME TAXES
Effective income tax rate	1.50%	(1.60%)	(0.70%)	(3.80%)

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - ILLINOIS - Contingent Gaming Licensing Fees	9 Months Ended
	Sep. 30, 2024
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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Numerator:
Net (loss) income basic	$ (8,472)	$ 4,593	$ (28,373)	$ (12,422)
Net (loss) income diluted	$ (8,472)	$ 4,593	$ (28,373)	$ (12,422)
Denominator:
Weighted-average common share - basic (in shares)	34,944	34,583	34,749	34,497
Potential dilution from share-based awards (in shares)		2,090
Weighted-average common and common share equivalents - diluted (in shares)	34,944	36,673	34,749	34,497
Anti-dilutive share-based awards excluded from the calculation of diluted loss per share	3,580	1,108	4,067	3,998

SEGMENT REPORTING AND DISAGGR_3

SEGMENT REPORTING AND DISAGGREGATED REVENUE - Selected Statement of Operations Data (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
Net Revenues	$ 75,687			$ 71,543			$ 219,103	$ 181,031
Adjusted Segment EBITDA	13,484			21,910			43,683	44,741
Depreciation and amortization	(10,493)			(8,468)			(31,444)	(22,482)
Corporate expenses	(1,742)			(1,280)			(5,391)	(3,479)
Project development costs	(52)			(21)			(55)	(45)
Preopening costs	(42)			(1,051)			(2,462)	(12,634)
Gain on sale of Stockman's	2,000						2,000	0
Loss on disposal of assets				(7)			(18)	(7)
Stock-based compensation	(706)			(726)			(2,155)	(2,129)
Operating income	2,449			10,357			4,158	3,965
Other (expense) income:
Interest expense, net	(11,047)			(5,867)			(32,320)	(16,319)
Gain on settlements				29				384
Nonoperating Income (Expense)	(11,047)			(5,838)			(32,320)	(15,935)
Income (Loss) before income taxes	(8,598)			4,519			(28,162)	(11,970)
Income tax (benefit) provision	(126)			(74)			211	452
Net (loss) income	(8,472)	$ (8,629)	$ (11,272)	4,593	$ (5,600)	$ (11,415)	(28,373)	(12,422)
Midwest and South
Segment Reporting Information [Line Items]
Net Revenues	54,510			52,553			164,599	143,267
Adjusted Segment EBITDA	10,249			11,750			35,206	31,830
West
Segment Reporting Information [Line Items]
Net Revenues	19,387			11,085			47,571	27,297
Adjusted Segment EBITDA	1,198			2,308			1,928	2,538
Contracted Sports Wagering
Segment Reporting Information [Line Items]
Net Revenues	1,790			7,905			6,933	10,467
Adjusted Segment EBITDA	2,037			7,852			6,549	10,373
Casino
Segment Reporting Information [Line Items]
Net Revenues	56,116			50,240			162,474	131,586
Casino \| Midwest and South
Segment Reporting Information [Line Items]
Net Revenues	41,855			40,341			125,815	107,474
Casino \| West
Segment Reporting Information [Line Items]
Net Revenues	14,261			9,899			36,659	24,112
Food and beverage
Segment Reporting Information [Line Items]
Net Revenues	11,100			9,086			31,272	25,419
Food and beverage \| Midwest and South
Segment Reporting Information [Line Items]
Net Revenues	8,866			8,242			26,059	23,032
Food and beverage \| West
Segment Reporting Information [Line Items]
Net Revenues	2,234			844			5,213	2,387
Hotel
Segment Reporting Information [Line Items]
Net Revenues	4,693			2,560			11,287	7,052
Hotel \| Midwest and South
Segment Reporting Information [Line Items]
Net Revenues	2,136			2,369			6,269	6,638
Hotel \| West
Segment Reporting Information [Line Items]
Net Revenues	2,557			191			5,018	414
Other operations, including contracted sports wagering
Segment Reporting Information [Line Items]
Net Revenues	3,778			9,657			14,070	16,974
Other operations, including contracted sports wagering \| Midwest and South
Segment Reporting Information [Line Items]
Net Revenues	1,653			1,601			6,456	6,123
Other operations, including contracted sports wagering \| West
Segment Reporting Information [Line Items]
Net Revenues	335			151			681	384
Other operations, including contracted sports wagering \| Contracted Sports Wagering
Segment Reporting Information [Line Items]
Net Revenues	$ 1,790			$ 7,905			$ 6,933	$ 10,467

SEGMENT REPORTING AND DISAGGR_4

SEGMENT REPORTING AND DISAGGREGATED REVENUE - Selected Balance Sheet Data (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total Assets	$ 668,718	$ 688,457
Corporate and Other
Segment Reporting Information [Line Items]
Total Assets	9,413	16,533
Midwest and South \| Operating Segments
Segment Reporting Information [Line Items]
Total Assets	294,674	298,072
West \| Operating Segments
Segment Reporting Information [Line Items]
Total Assets	364,446	372,875
Contracted Sports Wagering \| Operating Segments
Segment Reporting Information [Line Items]
Total Assets	$ 185	$ 977