FULL HOUSE RESORTS INC
FLL · Hotels & Motels · 36.3M shares · +7%/yr ↑ dilution · EDGAR filings ↗
Reference price $3.54 · est. market cap ~$128M — last insider purchase, 2025-08-13 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D45Small regional casino operator with extreme leverage and deep losses while ramping costly development projects.
Strengths
- Improving asset base as American Place and Chamonix ramp; high accounting gross margin (93.6th–95.6th pct)
- Long cash-runway metric (94th pct) provides near-term breathing room despite negative FCF
Risks
- Debt/equity 187 (100th pct) with net margin -13.3% (17th pct), ROA -6.2% (10th pct) and ROE -15.8 (5th pct)
- Only $40.7M cash (5th pct), current ratio 0.72 and negative FCF; concentrated in a few jurisdictions with secured-debt covenant risk
Notable findings
- High leverageHigh leverage (debt/equity 186.62)
- Net lossNet loss (net margin -13.3%)
- Cash burnNegative free cash flow (-2.7M)
- Weak liquidityCurrent ratio 0.72 (<1)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
93.3%
Operating margin
1.0%
Net margin
-13.3%
Return on equity
-1583.8%
Return on assets
-6.2%
ROIC
0.5%
Revenue growth (QoQ)
-1.3%
Debt / equity
186.6×
Net debt / EBITDA
9.5×
Current ratio
0.7×
Free cash flow
-$3M
EBITDA
$46M
Tangible book value
-$126M
Cash & investments
$41M
Cash runway
61q
Stock comp / revenue
0.6%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-14 | LEE DANIEL R | Tax withheld | 670 | $3.32 |
| 2026-06-14 | LEE DANIEL R | Grant | 2.8K | — |
| 2026-05-19 | Guidroz Elaine | Tax withheld | 1.3K | $2.72 |
| 2026-05-19 | Fanger Lewis A. | Tax withheld | 2.9K | $2.72 |
| 2026-05-19 | Fanger Lewis A. | Tax withheld | 5.8K | $2.72 |
| 2026-05-19 | Guidroz Elaine | Grant | 4.7K | — |
| 2026-05-19 | Guidroz Elaine | Tax withheld | 2.6K | $2.72 |
| 2026-05-19 | Fanger Lewis A. | Grant | 12K | — |
| 2026-05-18 | Fanger Lewis A. | Grant | 6.0K | — |
| 2026-05-18 | Fanger Lewis A. | Tax withheld | 1.4K | $2.73 |
| 2026-05-18 | Guidroz Elaine | Tax withheld | 667 | $2.73 |
| 2026-05-18 | Guidroz Elaine | Grant | 2.3K | — |
| 2026-05-14 | Braunlich Carl G | Grant | 25K | — |
| 2026-05-14 | Handler Lynn M | Grant | 25K | — |
| 2026-05-14 | Green Eric J | Grant | 25K | — |
| 2026-05-14 | Fanger Lewis A. | Grant | 104K | — |
| 2026-05-14 | Guidroz Elaine | Grant | 44K | — |
| 2026-05-14 | Shaunnessy Michael P | Grant | 25K | — |
| 2026-05-14 | Caracciolo Kathleen M | Grant | 25K | — |
| 2026-05-14 | LEE DANIEL R | Grant | 117K | — |
| 2026-05-08 | Fanger Lewis A. | Option exercise | 50K | $1.70 |
| 2026-05-08 | Fanger Lewis A. | Tax withheld | 4.3K | $2.97 |
| 2026-05-08 | Fanger Lewis A. | Grant | 8.9K | — |
| 2026-05-08 | Fanger Lewis A. | Tax withheld | 2.2K | $2.97 |
| 2026-05-08 | Guidroz Elaine | Tax withheld | 2.1K | $2.97 |
| 2026-05-08 | Guidroz Elaine | Grant | 3.4K | — |
| 2026-05-08 | Guidroz Elaine | Tax withheld | 1.2K | $2.97 |
| 2026-05-08 | Fanger Lewis A. | Tax withheld | 33K | $2.57 |
| 2026-04-24 | LEE DANIEL R | Option exercise | 100K | $1.70 |
| 2026-04-24 | LEE DANIEL R | Tax withheld | 69K | $2.48 |
| 2026-04-20 | Braunlich Carl G | Tax withheld | 6.6K | $2.73 |
| 2026-04-20 | Braunlich Carl G | Option exercise | 11K | $1.70 |
| 2026-03-25 | LEE DANIEL R | Grant | 11K | — |
| 2026-03-25 | LEE DANIEL R | Grant | 6.8K | — |
| 2026-03-25 | LEE DANIEL R | Grant | 9.7K | — |
| 2026-03-16 | Guidroz Elaine | Tax withheld | 31K | $2.62 |
| 2026-03-16 | Guidroz Elaine | Option exercise | 40K | $1.70 |
| 2026-03-16 | Guidroz Elaine | Tax withheld | 31K | $2.65 |
| 2026-03-16 | Guidroz Elaine | Option exercise | 40K | $1.70 |
| 2026-03-12 | Caracciolo Kathleen M | Option exercise | 5.9K | $1.70 |
| 2026-03-12 | Caracciolo Kathleen M | Tax withheld | 3.7K | $2.71 |
| 2025-08-13 | Green Eric J | Buy | 10K | $3.54 |
| 2025-07-23 | LEE DANIEL R | Option exercise | 184K | $4.75 |
| 2025-07-11 | Fanger Lewis A. | Grant | 10K | — |
| 2025-07-11 | Guidroz Elaine | Grant | 6.2K | — |
| 2025-06-13 | LEE DANIEL R | Buy | 92K | $4.75 |
| 2025-06-13 | LEE DANIEL R | Buy | 184K | $4.75 |
| 2025-05-19 | Handler Lynn M | Grant | 20K | — |
| 2025-05-19 | Shaunnessy Michael P | Grant | 20K | — |
| 2025-05-19 | Caracciolo Kathleen M | Grant | 20K | — |
| 2025-05-19 | Green Eric J | Grant | 20K | — |
| 2025-05-19 | Braunlich Carl G | Grant | 20K | — |
| 2025-05-19 | Guidroz Elaine | Grant | 28K | — |
| 2025-05-19 | Fanger Lewis A. | Grant | 72K | — |
| 2025-05-13 | Green Eric J | Buy | 25K | $3.40 |
| 2025-01-27 | Fanger Lewis A. | Option exercise | 91K | $1.37 |
| 2025-01-24 | Fanger Lewis A. | Option exercise | 105K | $1.37 |
| 2025-01-24 | Fanger Lewis A. | Sell | 105K | $4.62 |
| 2025-01-21 | Fanger Lewis A. | Option exercise | 1.0K | $1.37 |
| 2025-01-21 | Fanger Lewis A. | Sell | 1.0K | $5.01 |
| 2025-01-17 | Fanger Lewis A. | Sell | 7.6K | $5.00 |
| 2025-01-17 | Fanger Lewis A. | Option exercise | 7.6K | $1.37 |
| 2025-01-06 | Fanger Lewis A. | Option exercise | 200 | $1.37 |
| 2025-01-06 | Fanger Lewis A. | Sell | 200 | $5.00 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-20 | Shareholder vote | filing ↗ |
| 2026-05-07 | ResultsExhibits | filing ↗ |
| 2026-03-05 | Material agreementResultsExhibits | filing ↗ |
| 2025-11-06 | ResultsExhibits | filing ↗ |
| 2025-08-07 | ResultsExhibits | filing ↗ |
| 2025-07-15 | Exec/director changeExhibits | filing ↗ |
| 2025-06-17 | Exec/director changeExhibits | filing ↗ |
| 2025-05-16 | Exec/director changeShareholder voteExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-20 | 2026-05-14 | 0000891482-26-000028 ↗ |
| 8-K | 2026-05-07 | 2026-05-07 | 0000891482-26-000023 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0000891482-26-000025 ↗ |
| 10-K | 2026-03-16 | 2025-12-31 | 0000891482-26-000007 ↗ |
| 8-K | 2026-03-05 | 2026-03-03 | 0000891482-26-000004 ↗ |
| 8-K | 2025-11-06 | 2025-11-06 | 0000891482-25-000054 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0000891482-25-000056 ↗ |
| 10-Q | 2025-08-08 | 2025-06-30 | 0000891482-25-000048 ↗ |
| 8-K | 2025-08-07 | 2025-08-07 | 0000891482-25-000046 ↗ |
| 8-K | 2025-07-15 | 2025-07-11 | 0000891482-25-000042 ↗ |
| 8-K | 2025-06-17 | 2025-06-14 | 0000891482-25-000036 ↗ |
| 8-K | 2025-05-16 | 2025-05-15 | 0000891482-25-000033 ↗ |