Economic Sensitivity and Discretionary Spending Declines: The company's revenues are highly dependent on consumer discretionary spending, which can be negatively impacted by economic downturns, inflation, or other factors reducing consumer confidence and disposable income.

Intense Competition and Market Saturation: Full House Resorts operates in highly competitive markets against other land-based casinos, online gambling platforms, and other entertainment options, which could lead to reduced market share or pricing pressure.

Regulatory and Licensing Risks: The gaming industry is heavily regulated, and changes in gaming laws, tax policies, or the inability to obtain or maintain necessary licenses could materially impact operations and profitability.