Exhibit 10.1

SIXTH AMENDMENT TO
FIRST LIEN CREDIT AGREEMENT

THIS SIXTH AMENDMENT TO FIRST LIEN CREDIT AGREEMENT (this “Amendment”), dated as
of March 11, 2016 (the “Effective Date”), is entered into by and among FULL
HOUSE RESORTS, INC., a Delaware corporation (the “Borrower”); each of the
undersigned financial institutions (collectively, the “Lenders”); and CAPITAL
ONE, NATIONAL ASSOCIATION (“Capital One”), as administrative agent for the
Lenders (in such capacity, the “Administrative Agent”), as L/C Issuer and as
Swing Line Lender (as such terms are defined in the Credit Agreement referenced
below).

RECITALS

A.    The Borrower, Administrative Agent and Lenders have executed a First Lien
Credit Agreement, dated as of June 29, 2012 (as amended, the “Credit Agreement”)
providing for a Revolving Loan in the maximum aggregate principal amount of
$5,000,000, a Term Loan in the original principal amount of $50,000,000, a Term
Loan (Hotel) in the maximum principal amount of $10,000,000 and a Swing Line
Loan in the maximum principal amount of $1,000,000. Capitalized terms used
herein and not otherwise defined herein shall have the meanings defined in the
Credit Agreement.

B.    The Borrower has requested an extension of the maturity date of the
Obligations. The Administrative Agent and the Lenders are willing to accept such
requests on the terms and conditions set forth below.

NOW, THEREFORE, in consideration of the above Recitals and the mutual covenants
herein contained, the parties hereto hereby agree as follows:

I. AMENDMENTS TO CREDIT AGREEMENT

1.Section 1.01 (Definitions) of the Credit Agreement is hereby amended to modify
the following definitions:

“Maturity Date” shall mean April 1, 2017.

2.    Except as specifically amended hereby, all of the remaining terms and
conditions of the Credit Agreement shall remain in full force and effect.

II. MISCELLANEOUS

1.Representations and Warranties. Borrower represents to the Administrative
Agent and the Lenders, as of December 31, 2015, as follows:

(a)The representations and warranties of the Loan Parties set forth in Article
IV of the Credit Agreement and in the other Credit Documents are true and
correct in all material respects (except to the extent that such representation
and warranty is qualified by materiality, in which case such representation and
warranty must be true in all respects) as
 

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if made on such date (except for representations and warranties expressly made
as of a specified date, which shall be true and correct in all material respects
(except to the extent that such representation and warranty is qualified by
materiality, in which case such representation and warranty must be true in all
respects) as of such date);

(b)No Default has occurred and is continuing; and

(c)No material adverse change in the business, operations, condition (financial
or otherwise), assets or liabilities (whether actual or contingent) of the
Borrower Parties taken as a whole has occurred since December 31, 2015.

2.Conditions Precedent. Upon the satisfaction of all of the following conditions
precedent, this Amendment shall, retroactively as of the Effective Date, become
effective: (i) the Borrower shall have paid or caused to be paid all costs and
expenses incurred by the Agent and the Lenders through the Effective Date and
(ii) the Agent and the Lenders shall have received the following, all of which
shall be in form and substance satisfactory to the Agent and in sufficient
counterparts:

(a)Executed counterparts of this Amendment signed by all of the Loan Parties.

(b)Acknowledgment of First Lien Guarantors to this Amendment.

(c)Acknowledgment of Second Lien Lenders to this Amendment.

(d)Flood hazard determination certificates for Silver Slipper Casino property,
if required by Administrative Agent.

(e)Certificate of Borrower stating that (i) all material consents necessary or
advisable in connection with the transactions contemplated by this Amendment
have been obtained, (ii) all of the foregoing conditions precedent have been
satisfied and (iii) the Effective Date has occurred; provided that if such
certificate is not received by June 30, 2015 (unless such date is extended by
the Administrative Agent), this Amendment shall become null and void.

(f)Such other documents as the Administrative Agent may reasonably request.

3.Counterparts. This Amendment may be executed in any number of identical
counterparts, any set of which signed by all the parties hereto shall be deemed
to constitute a complete, executed original for all purposes. Transmission by
facsimile, “pdf” or similar electronic copy of an executed counterpart of this
Amendment shall be deemed to constitute due and sufficient delivery of such
counterpart. Any party hereto may request an original counterpart of any party
delivering such electronic counterpart.

4.Effective Date. Upon the satisfaction of the conditions precedent set forth in
Section 2 of this Article II, this Amendment shall become effective as of the
Effective Date.

[Signatures on following pages]

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IN WITNESS WHEREOF, the Borrower, the Lenders, the Administrative Agent, the L/C
Issuer and the Swing Line Lender have caused this Agreement to be executed as of
the day and year first above written.

BORROWER:
FULL HOUSE RESORTS, INC.,
 
a Delaware corporation
 
 
By:
/s/ Daniel Lee
Name:
Daniel Lee
Title:
President and Chief Executive Officer

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ADMINISTRATIVE AGENT,
 
COLLATERAL TRUSTEE, L/C
 
ISSUER. SWING LINE LENDER
 
AND LENDER:
CAPITAL ONE, NATIONAL ASSOCIATION,
 
 
By:
/s/ Ross S. Wales
Name:
Ross S. Wales
Title:
Senior Vice President

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LENDERS:
NEVADA STATE BANK
 
 
By:
/s/ Troy Morris
Name:
Troy Morris
Title:
Vice President

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FIRST TENNESSEE BANK
 
NATIONAL ASSOCIATION
 
 
By:
/s/ James M. Hennigan
Name:
James M. Hennigan
Title:
Senior Vice President

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TRUSTMARK NATIONAL BANK
 
 
By:
/s/ Craig E. Sosebee
Name:
Craig E. Sosebee
Title:
First Vice President

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Western Alliance Bank, an Arizona corporation, as
 
successor-in-interest to Bank of Nevada
 
 
By:
/s/ Anthony J. Stelluto
Name:
Anthony J. Stelluto
Title:
Senior Vice President

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