Full House Resorts Inc (NYSE: FLL) is a regional gaming company that owns and operates casino properties across the United States. Revenue comes primarily from slot machines and table games, supplemented by food and beverage, hotel, and other non-casino sources. For the year ended December 31, 2025, total revenues were $302.4 million, up 3.5% from $292.1 million in FY2024. Casino revenues of $230.3 million (FY2025) were split between slots at $191.2 million and table games at $38.3 million. Non-casino revenues totaled $72.1 million (FY2025), with food and beverage at $39.3 million and hotel at $16.0 million. The company operates properties under names including American Place (Waukegan, Illinois), Silver Slipper, Chamonix, Bronco Billy's, Rising Star, and Grand Lodge, with 1,557 full-time and 274 part-time casino employees as of December 31, 2025. Headquarters are in Las Vegas, Nevada. The company carries an accumulated deficit and reported net losses in both FY2024 and FY2025.

Revenue model

Transactional gaming revenue from slot machines (hold on coin-in) and table games (hold on drop), with ancillary revenue from food and beverage, hotel rooms, and other amenities. Slot hold percentage was 7.6% and table game hold percentage was 17.9% for both FY2025 and FY2024.

Products and services

Slot machine gaming, table game gaming, food and beverage service, hotel accommodations, and other resort amenities across multiple casino properties including American Place (temporary facility in Waukegan, IL, with permanent facility in design as of the 10-K filed 2026-03-16), Silver Slipper, Chamonix, Bronco Billy's, Rising Star, and Grand Lodge.

Customers and end markets

Regional gaming consumers at destination and local casino properties. No disclosed customer concentration data. End market demand is driven by regional discretionary consumer spending on gaming and hospitality.

Value-chain role

Casino owner-operator. Dependent on third-party slot machine manufacturers for gaming equipment, with some machines acquired via participation lease arrangements requiring fixed daily rental or percentage-of-win payments.

Geographic exposure

United States regional markets. Properties include Waukegan, Illinois (American Place, Midwest and South segment), plus Silver Slipper, Chamonix/Bronco Billy's, Rising Star, and Grand Lodge locations as of December 31, 2025. Corporate headquarters in Las Vegas, Nevada.

Source: SEC 10-K, filed 2026-03-16

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