 - Strong Results Since the Relaunch of Operations- All Properties Reopened by Mid-June 2020- Companys First Mobile Sports Wagering Provider in Colorado Launched Operations in June 2020- Total Cash and Equivalents Increased to 26.5 Million at End of Second QuarterLAS VEGAS, Aug. 06, 2020 GLOBE NEWSWIRE -- Full House Resorts, Inc. Nasdaq: FLL today announced results for the second quarter ended June 30, 2020.Due to the COVID-19 pandemic, various state regulatory agencies required all of the Companys casinos to close in mid-March 2020. The Companys properties began reopening when permitted by local authorities, beginning with the Silver Slipper Casino and Hotel on May 21, 2020, Grand Lodge Casino and Stockmans Casino on June 4, 2020, and Bronco Billys Casino and Hotel and Rising Star Casino Resort on June 15, 2020.Because all of the Companys operations were closed in the first half of the quarter, the year-over-year comparisons are not particularly meaningful. The Company has thus, on a supplemental basis, provided the results for the month of June, in addition to the quarterly results. Recognize that not all of the Companys operations were open for the entirety of the month of June 2020, but management believes the June 2020 to June 2019 comparison to be more relevant than the year-over-year second quarter comparisons. The Company does not intend to release monthly results on an ongoing basis.June ResultsAfter a few months of closure to help slow the spread of the coronavirus, we began the process of reopening our properties in late-May. By mid-June, all of our properties were open, said Daniel R. Lee, President and Chief Executive Officer of Full House Resorts. We still have significant constraints on our operations in order to ensure social distancing and address appropriate health safety concerns. For example, we are not operating table games in Colorado and we have significantly limited our table game capacity in other markets. We are not offering entertainment or any special events that would result in group gatherings. Our restaurants are operating with reduced hours and reduced capacity. We are currently operating only about 1,650 slot machines to ensure proper distancing between slot players, versus the nearly 3,000 slot machines that we operated in the first quarter. We are also incurring additional costs to sanitize equipment between guests, to police social distancing, to take temperature scans at every entrance, to have employees serve guests at buffets that were previously self-serve, and to provide masks and other protective equipment to employees and guests.Despite these constraints, our properties have performed very well on an overall basis. In June 2020, for example, consolidated Adjusted EBITDAa increased 60 versus June 2019. That strong performance was led by our most important property, the Silver Slipper, which was our only property open for the entire month. On several metrics, June 2020 was the best month in the Silver Slippers 14-year history. Adjusted Property EBITDA at the Silver Slipper improved 28 in June 2020 from June 2019. Both Bronco Billys and Rising Star also performed well in June, despite not reopening until midway through the month. Their partial months of operation were strong enough to carry the full month of rent, utilities and other overhead expenses and still outperform the prior-year period, when they were open for the entire month. Partly offsetting the strong results from our larger properties, our Northern Nevada segment saw its operating performance decline in June 2020, as destination travel to our Lake Tahoe location is down and most visitors to the Navys air station in Fallon, where substantial training is performed, are prohibited from leaving the base.Continued Mr. Lee, Several months ago, we invested in new slot marketing systems at Rising Star and Bronco Billys. Those new slot systems provide an improved guest experience, as well as vastly improved analytics. This helps us market more effectively and efficiently. After extensive analysis during the shutdown period, we relaunched the loyalty programs at both properties upon reopening. We also used the shutdown period to reexamine our staffing levels company-wide and we chose to open conservatively in terms of amenities and hours of operation, given the uncertainty of the customer response to reopening in the midst of a pandemic. We are pleased that customers have generally responded positively, recognizing that it is possible to operate a casino with appropriate social distancing and health safety measures. We think our positive results also reflect that people generally drive rather than fly to our casinos and that we do not rely on casino resort amenities such as shows, nightclubs or convention facilities, which by their nature, result in group gatherings. Regarding online sports wagering, we continue to make great strides. Two of our six permitted skins, or sports wagering websites, are now live, as Smarkets launched its sports wagering app in Colorado on June 4, 2020. It joins Churchill Downs BetAmerica, which launched in Indiana at the end of last year. Our final four skins are expected to launch this quarter, pending the receipt of customary regulatory approvals. When all of our contracted sports wagering websites have commenced operations, our sports wagering revenue, based on the contractual minimums, should total at least 7.0 million on an annualized basis.Lastly, concluded Mr. Lee, we continue to focus on our financial liquidity. At the start of the pandemic, we stopped construction of our parking garage at Bronco Billys in order to conserve capital. We are currently in the process of finalizing a covenant waiver with our lenders for the June 30 period, and continue to discuss covenant amendments for future quarters. We continue to be very cautious, recognizing that the risks of the pandemic period are not yet entirely behind us.Second Quarter ResultsAs noted, the Companys casinos did not operate for much of the recent second quarter. Accordingly, consolidated net revenues in the second quarter of 2020 decreased to 14.5 million from 41.7 million in the prior-year period. Net loss for the second quarter of 2020 was 6.7 million, or 0.25 per diluted common share, compared to a net loss of 1.0 million, or 0.04 per diluted common share, in the prior-year period. Net loss in both periods was affected by the accounting for the fair market value of outstanding warrants. Adjusted EBITDA in the 2020 second quarter was 1.4 million versus 4.3 million in the second quarter of 2019. Results for the second quarter of 2020 also include 0.5 million of revenue related to a full quarter of operations for one of the Companys three permitted sports wagering websites in Indiana, as well as approximately one month of newly-launched operations for one of the Companys three permitted sports wagering websites in Colorado.Second Quarter Highlights and Subsequent Events At Silver Slipper Casino and Hotel, net revenues in the month of June 2020 were 6.4 million versus 6.6 million in June 2019. Adjusted Property EBITDA in June 2020 increased 28 to 1.7 million from 1.3 million in June 2019, despite the numerous operating restrictions. For the full quarter, net revenues at Silver Slipper Casino and Hotel declined to 9.1 million in the second quarter of 2020 from 18.9 million in the prior-year quarter. Adjusted Property EBITDA was 1.2 million and 3.6 million for the second quarters of 2020 and 2019, respectively. These results reflect the mandatory closure of the property from March 16, 2020 until May 21, 2020. As discussed above, operating profits at Silver Slipper since reopening have been meaningfully ahead of prior-year levels. At Rising Star Casino Resort, net revenues in the month of June 2020 were 2.3 million versus 3.8 million in June 2019. Adjusted Property EBITDA in June 2020 increased 33 to 168,000 from 126,000 in June 2019. For the full quarter, net revenues at Rising Star excluding contractual minimums related to the propertys sports revenue agreements declined for the second quarter of 2020 to 2.2 million from 11.6 million, reflecting the mandatory closure of the property from March 16, 2020 until June 15, 2020, as well as an increase in competition. A casino near Louisville opened a large new casino in mid-December, replacing its original casino boat. Additionally, on January 1, 2020, racetrack casinos near Indianapolis began offering live table games. Adjusted Property EBITDA excluding contractual minimums related to the propertys sports revenue agreements of 1.4 million in the second quarter of 2020 compares to 0.6 million in the prior-year period. Including the contracted sports revenues, revenues and Adjusted Property EBITDA for the second quarter of 2020 were 2.6 million and 1.0 million, respectively. The Company completed installation of a new slot system at Rising Star in the fourth quarter of 2019. The new slot system was installed to improve the customer experience, as well as the effectiveness and efficiency of the propertys marketing efforts. At Bronco Billys Casino and Hotel, net revenues in the month of June 2020 were 1.7 million versus 2.3 million in June 2019. Adjusted Property EBITDA in June 2020 increased 95 to 677,000 from 348,000 in June 2019. For the full quarter, net revenues at Bronco Billys excluding contractual minimums related to the propertys sports revenue agreements declined for the second quarter of 2020 to 1.6 million from 6.9 million. Adjusted Property EBITDA excluding contractual minimums related to the propertys sports revenue agreements declined to 0.2 million from 0.9 million. 