Full House Resorts Inc.

07/03/2024 | Press release | Distributed by Public on 07/03/2024 04:02

Material Agreement Form 8 K

Item 1.01 Entry into a Material Definitive Agreement

On July 1, 2024, Full House Resorts, Inc.'s wholly-owned subsidiary Gaming Entertainment (Nevada) LLC entered into a Seventh Amendment to Casino Operations Lease (the "Amendment") with Incline Hotel LLC (the "Landlord") amending the terms of that certain Casino Operations Lease dated June 28, 2011, as amended (the "Lease"). Prior to the Amendment, the Lease was scheduled to expire on December 31, 2024. The Amendment extends the initial term of the Lease by ten years to December 31, 2034; increases annual rent from $2,000,000 in 2024 to $2,010,857 for 2025, followed by annual increases of 2% for the remainder of the term; permits the Landlord to terminate the Lease early to renovate the premises; and makes certain other conforming changes. Except as set forth in the Amendment, all other terms of the Lease remain in full force and effect.

The foregoing description of the Amendment is qualified in its entirety by reference to the full text of the Amendment, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.