Full House Resorts, Inc. · NASDAQ:FLL
Full House Resorts — Q2 2019 Earnings Presentation
36 slides from Full House Resorts's earnings presentation, August 2019
Slide 1: August 2019
PUES August 2019
Slide 2: Forward-looking Statements & Regulation G
Forward-looking Statements & Regulation G 2 This presentation may contain statements that are "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assura
Slide 3: Silver Slipper
Silver Slipper 3 • Located near Bay St. Louis, Mississippi, Silver Slipper continues to benefit from recent property improvements: • 129-guestroom hotel in late-2016 • Beach Club and ingress improvements in mid-2017 • Oyster Bar in mid-2017 • Sports wagering area in August 2018 • Casino and buffet r
Slide 4: Silver Slipper: Beach Club and Improved Arrival
Silver Slipper: Beach Club and Improved Arrival 4
Slide 5: Silver Slipper: Oyster Bar
Silver Slipper: Oyster Bar 5
Slide 6: Silver Slipper: Sports Wagering Area
Silver Slipper: Sports Wagering Area 6
Slide 7: Silver Slipper: Casino Renovation
Silver Slipper: Casino Renovation 7 Before After
Slide 8: Silver Slipper: 2Q19
Silver Slipper: 2Q19 8 • Reflects recent investments and addition of sports betting
Slide 9: Rising Star
Rising Star 9 • Located near Cincinnati, Ohio, Rising Star has also seen several capital improvements and recently went through management changes • RV Park opened in mid-2017 • Pavilion and hotel lobby improvements in mid-2018 • Ferry service began operations in 3Q18 • Preparing for opening of Ben’
Slide 10: Rising Star: RV Park
Rising Star: RV Park 10
Slide 11: Rising Star: Ferry Service
Rising Star: Ferry Service 11
Slide 12: Rising Star: Ferry Ridership Continues to Improve
Rising Star: Ferry Ridership Continues to Improve 12
Slide 13: Rising Star: 2Q19
Rising Star: 2Q19 13 • Reflects continued road construction and management transition costs
Slide 14: Rising Star: Ben's Bistro
Rising Star: Ben’s Bistro 14
Slide 15: Rising Star: Ben's Bistro
Rising Star: Ben's Bistro_| Star: Ben's Bistro Ps]
Slide 16: Rising Star: Sports Wagering Preparing for Launch
Rising Star: Sports Wagering Preparing for Launch 16 • On-site sportsbook is expected to open in the fall • Our sportsbook partner has unique expertise in sports book operations • Sportsbook will replace the existing Big Vic’s Pub & Grub within the land pavilion, and is also expected to include appr
Slide 17: Bronco Billy's
Bronco Billy’s 17 • Located near Colorado Springs, Colorado, Bronco Billy’s is undergoing an expansion and recently went through management changes • Crippled Cow opened in July 2017 • Christmas Casino opened in November 2018 • Phase One’s parking garage is currently under construction • Phase Two –
Slide 18: Bronco Billy's: Crippled Cow
Bronco Billy’s: Crippled Cow 18
Slide 19: Bronco Billy's: Christmas Casino
Bronco Billy’s: Christmas Casino 19
Slide 20: Bronco Billy's: 2Q19
Bronco Billy’s: 2Q19 20 • Reflects management transition costs and additional costs for the Christmas Casino facility; marketing changes began in July
Slide 21: Bronco Billy's: Parking Garage Construction
Bronco Billy’s: Parking Garage Construction 21 Utility Relocation Work
Slide 22: Bronco Billy's: Phase Two Expansion
Bronco Billy’s: Phase Two Expansion 22
Slide 23: Northern Nevada
Northern Nevada 23 • Grand Lodge Casino underwent a significant $5 million renovation in mid-2017, principally funded by Hyatt • Also extended the lease expiration date to August 2023 • Stockman’s Casino underwent numerous improvements in 2017 and 2018, including: • Improved visibility from the main
Slide 24: Grand Lodge: Casino Renovation
Grand Lodge: Casino Renovation 24
Slide 25: Stockman's: Improved Arrival and New Porte Cochere
Stockman’s: Improved Arrival and New Porte Cochere 25
Slide 26: Northern Nevada: 2Q19
Northern Nevada: 2Q19 26 • Reflects delayed return of locals due to lingering snow
Slide 27: Net Revenue: +37% Since 2014
Net Revenue: +37% Since 2014 27
Slide 28: Adjusted EBITDA: +69% Since 2014
Adjusted EBITDA: +69% Since 2014 28
Slide 29: Casino Proposal: American Place in Waukegan, Illinois
Casino Proposal: American Place in Waukegan, Illinois 29 • On August 5, 2019, we responded to the City of Waukegan’s “Request for Qualifications and Proposals” to select a preferred operator per recent legislation expanding gaming in Illinois • Waukegan is located approximately 35 miles north of dow
Slide 30: Casino Proposal: American Place in Waukegan, Illinois
Casino Proposal: American Place in Waukegan, Illinois 30
Slide 31: Casino Proposal: American Place in Waukegan, Illinois
Casino Proposal: American Place in Waukegan, Illinois 31
Slide 32: Other Development Opportunities
Other Development Opportunities 32 • Sixth Racetrack Casino License in New Mexico • In 2018, the New Mexico Racing Commission announced a competitive process regarding the issuance of the state’s sixth and final racetrack casino license • In 4Q18, we formally presented our racetrack casino proposal
Slide 33: GAAP Reconciliation
GAAP Reconciliation 33 Reconciliation of Operating Income (Loss) to Adjusted Property EBITDA and Adjusted EBITDA (In Thousands, Unaudited)
Slide 34: GAAP Reconciliation
GAAP Reconciliation 34 Reconciliation of Operating Income (Loss) to Adjusted Property EBITDA and Adjusted EBITDA (In Thousands, Unaudited)
Slide 35: GAAP Reconciliation
GAAP Reconciliation 35 Reconciliation of Net Income (Loss) and Operating Income (Loss) to Adjusted EBITDA
Slide 36: GAAP Reconciliation
GAAP Reconciliation 36 Reconciliation of Net Income (Loss) and Operating Income (Loss) to Adjusted EBITDA