XML 28 R18.htm IDEA: XBRL DOCUMENT v3.5.0.2
Segment Information
 9 Months Ended
Sep. 30, 2016
Segment Reporting [Abstract]  
Segment Information

Note 13 – Segment Information

During the third quarter of 2015, the Company redefined its reportable segments to reflect the change in its business following the Merger. As a result of the Merger, the Company now conducts its business through two reportable operating segments: Distributed Gaming and Casinos. Prior to the Merger, the Company conducted its business through the following two segments: Rocky Gap and Other. Prior period information has been recast to reflect the new segment structure and present comparative year-over-year results.

The Company’s Distributed Gaming segment involves the installation, maintenance and operation of gaming and amusement devices in certain strategic, high-traffic, non-casino locations (such as grocery stores, convenience stores, restaurants, bars, taverns, saloons and liquor stores) in Nevada and Montana, and the operation of traditional, branded taverns targeting local patrons, primarily in the greater Las Vegas, Nevada metropolitan area. The Company’s Casinos segment includes results of operations and assets related to Rocky Gap in Flintstone, Maryland and its three casino properties in Pahrump, Nevada. The Corporate and Other segment includes the Company’s cash and cash equivalents, short-term investments, cost method investments and corporate overhead. Costs recorded in the Corporate and Other segment have not been allocated to the Company’s reportable operating segments because these costs are not easily allocable and to do so would not be practical. Amounts in the Eliminations column represent the intercompany management fee for Rocky Gap. 

 

 

 

Distributed

Gaming

 

 

Casinos

 

 

Corporate

and Other

 

 

Eliminations

 

 

Consolidated

 

 

 

(In thousands)

 

Three months ended September 30, 2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net revenues

 

$

78,253

 

 

$

25,909

 

 

$

64

 

 

$

—

 

 

$

104,226

 

Depreciation and amortization expense

 

 

(4,871

)

 

 

(2,034

)

 

 

(318

)

 

 

—

 

 

 

(7,223

)

Income (loss) from operations

 

 

4,961

 

 

 

4,477

 

 

 

(6,356

)

 

 

—

 

 

 

3,082

 

Interest expense, net

 

 

(43

)

 

 

(3

)

 

 

(1,643

)

 

 

—

 

 

 

(1,689

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended September 30, 2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net revenues

 

$

40,331

 

 

$

22,133

 

 

$

598

 

 

$

(550

)

 

$

62,512

 

Management fee revenue (expense)

 

 

—

 

 

 

(550

)

 

 

550

 

 

 

—

 

 

 

—

 

Depreciation and amortization expense

 

 

(2,952

)

 

 

(1,882

)

 

 

(266

)

 

 

—

 

 

 

(5,100

)

Income (loss) from operations

 

 

2,204

 

 

 

2,662

 

 

 

(12,618

)

 

 

—

 

 

 

(7,752

)

Interest expense, net

 

 

(28

)

 

 

(89

)

 

 

(863

)

 

 

—

 

 

 

(980

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine months ended September 30, 2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net revenues

 

$

224,602

 

 

$

73,031

 

 

$

185

 

 

$

—

 

 

$

297,818

 

Depreciation and amortization expense

 

 

(13,166

)

 

 

(5,720

)

 

 

(976

)

 

 

—

 

 

 

(19,862

)

Income (loss) from operations

 

 

17,258

 

 

 

12,398

 

 

 

(17,786

)

 

 

—

 

 

 

11,870

 

Interest expense, net

 

 

(118

)

 

 

(4

)

 

 

(4,664

)

 

 

—

 

 

 

(4,786

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine months ended September 30, 2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net revenues

 

$

40,331

 

 

$

50,138

 

 

$

1,505

 

 

$

(1,367

)

 

$

90,607

 

Management fee revenue (expense)

 

 

—

 

 

 

(1,367

)

 

 

1,367

 

 

 

—

 

 

 

—

 

Impairments and other losses

 

 

—

 

 

 

—

 

 

 

(682

)

 

 

—

 

 

 

(682

)

Depreciation and amortization expense

 

 

(2,952

)

 

 

(3,603

)

 

 

(304

)

 

 

—

 

 

 

(6,859

)

Income (loss) from operations

 

 

2,204

 

 

 

4,635

 

 

 

(15,916

)

 

 

—

 

 

 

(9,077

)

Interest expense, net

 

 

(28

)

 

 

(626

)

 

 

(769

)

 

 

—

 

 

 

(1,423

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of September 30, 2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

$

287,282

 

 

$

105,723

 

 

$

15,323

 

 

$

—

 

 

$

408,328

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

$

221,596

 

 

$

112,962

 

 

$

44,226

 

 

$

—

 

 

$

378,784