XML 96 R79.htm IDEA: XBRL DOCUMENT v3.6.0.2
Schedule of Segment Reporting Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2016
Sep. 30, 2016
 [2]
Jun. 30, 2016
 [3]
Mar. 31, 2016
 [4]
Dec. 31, 2015
Sep. 30, 2015
 [6]
Jun. 28, 2015
 [7]
Mar. 29, 2015
 [8]
Dec. 31, 2016
Dec. 31, 2015
Dec. 28, 2014
Segment Reporting Information [Line Items]                      
Net Revenues $ 105,386 [1] $ 104,226 $ 102,558 $ 91,034 $ 86,435 [5] $ 62,512 $ 15,329 $ 12,766 $ 403,204 $ 177,042 $ 55,172
Adjusted EBITDA                 48,595 18,274 1,443
Merger expenses                 (614) (11,525) (482)
Disposition of notes receivable                   23,590  
Share-based compensation                 (3,878) (809) (270)
Impairments and other losses                   (682) (20,997)
Loss on extinguishment of debt                 18 (1,174)  
Depreciation and amortization                 (27,506) (10,798) (3,513)
Other operating items, net                 (4,176) (369) (884)
Income (loss) from operations 1,495 [1] 2,752 5,051 3,737 27,440 [5] (7,752) 16 (1,341) 13,035 18,363 (23,951)
Non-operating income (expense)                      
Interest expense, net                 (6,454) (2,728) (1,058)
Gain on sale of land held for sale                 4,525    
Loss on extinguishment of debt                 18 (1,174)  
Other, net                 869 90 164
Total non-operating expense, net                 (1,060) (3,812) (894)
Income (loss) before income tax benefit                 11,975 14,551 (24,845)
Income tax benefit (provision)                 4,325 9,969  
Net income (loss) 9,959 [1] $ 1,302 $ 2,800 $ 2,239 23,406 [5] $ 3,018 $ (179) $ (1,725) 16,300 24,520 (24,845)
Total assets 419,078       378,784       419,078 378,784 122,029
Capital Expenditures                 30,634 7,946 4,516
Operating Segments [Member] | Distributed Gaming [Member]                      
Segment Reporting Information [Line Items]                      
Net Revenues                 305,792 103,610  
Adjusted EBITDA                 43,555 14,254  
Depreciation and amortization                 (18,889) (5,315)  
Other operating items, net                 (2,139) (380)  
Income (loss) from operations                 22,527 8,559  
Non-operating income (expense)                      
Interest expense, net                 (144) (68)  
Other, net                   1  
Total non-operating expense, net                 (144) (67)  
Income (loss) before income tax benefit                 22,383 8,492  
Income tax benefit (provision)                 (60)    
Net income (loss)                 22,323 8,492  
Total assets 294,822       221,596       294,822 221,596  
Capital Expenditures                 17,730 4,595  
Operating Segments [Member] | Casinos [Member]                      
Segment Reporting Information [Line Items]                      
Net Revenues                 97,132 73,245 55,021
Adjusted EBITDA                 23,571 14,390 8,086
Loss on extinguishment of debt                   (1,174)  
Depreciation and amortization                 (7,351) (4,928) (3,283)
Other operating items, net                 (94) (8) (1,571)
Income (loss) from operations                 16,126 9,454 3,232
Non-operating income (expense)                      
Interest expense, net                 (9) (626)  
Loss on extinguishment of debt                   (1,174)  
Other, net                   (1,798)  
Total non-operating expense, net                 (9) (3,598)  
Income (loss) before income tax benefit                 16,117 5,856 3,232
Net income (loss)                 16,117 5,856 3,232
Total assets 108,418       112,962       108,418 112,962 35,688
Capital Expenditures                 10,267 2,594 4,345
Corporate and Other [Member]                      
Segment Reporting Information [Line Items]                      
Net Revenues                 280 1,985 1,722
Adjusted EBITDA                 (18,531) (10,370) (6,643)
Merger expenses                   (11,525)  
Disposition of notes receivable                   23,590  
Share-based compensation                 (3,878) (809)  
Impairments and other losses                     (20,997)
Depreciation and amortization                 (1,266) (555) (230)
Other operating items, net                 (1,943) 19 687
Income (loss) from operations                 (25,618) 350 (27,183)
Non-operating income (expense)                      
Interest expense, net                 (6,301) (2,034) (1,058)
Gain on sale of land held for sale                 4,525    
Other, net                 869 1,887 164
Total non-operating expense, net                 (907) (147) (894)
Income (loss) before income tax benefit                 (26,525) 203 (28,077)
Income tax benefit (provision)                 4,385 9,969  
Net income (loss)                 (22,140) 10,172 (28,077)
Total assets 69,236       $ 44,226       69,236 44,226 86,341
Capital Expenditures                 2,637 757 171
Consolidation, Eliminations [Member]                      
Segment Reporting Information [Line Items]                      
Net Revenues                   $ (1,798) $ (1,571)
Non-operating income (expense)                      
Total assets $ (53,398)               $ (53,398)    
[1] Results included a $4.1 million gain on sale of land held for sale, a $0.9 million gain on sale of interest rate swap, and $0.6 million in preopening expense related to tavern expansion. Share-based compensation expense was $1.4 million related primarily to stock options and RSUs granted subsequent to the Merger and the acceleration of unvested stock options related to terminated employees. Additionally, a $4.3 million income tax benefit was recorded resulting from the partial release of the valuation allowance against deferred tax assets.
[2] Results included $0.8 million in preopening expenses related to tavern expansion and a $0.3 million gain on disposal of property and equipment. Share-based compensation expense was $1.7 million related primarily to additional stock options granted, the acceleration of unvested stock options related to a terminated employee and incremental expense recorded for the equitable anti-dilutive adjustments made to the exercise prices of outstanding vested and unvested stock options during the period in connection with the payment of the Special Dividend in accordance with the Company’s equity incentive plans.
[3] Results included the operating results of the Second Montana Acquisition from and after April 23, 2016, following the completion of the business combination. Additionally, results included $0.5 million in preopening expenses related to the Second Montana Acquisition and tavern expansion, as well as $0.4 million in transaction-related costs associated with the Merger and the Company’s obligations under the Merger Agreement.
[4] Results included the operating results of the Initial Montana Acquisition from and after January 30, 2016, following the completion of the business combination. Additionally, results included $0.6 million in preopening expenses related to the Initial Montana Acquisition and tavern expansion.
[5] Results included the operating results of Sartini Gaming for the entire fourth quarter, a gain on recovery of impaired notes receivable of $23.6 million related to the disposition of the Jamul Note, approximately $0.9 million in transaction-related costs associated with the Merger and an income tax provision of $2.7 million.
[6] Results included the operating results of Sartini Gaming from and after August 1, 2015, following the consummation of the Merger, a $1.2 million loss on extinguishment of debt, approximately $9.3 million in transaction-related costs associated with the Merger and an income tax benefit of $12.9 million attributable primarily to the income tax benefit recorded from the reversal of an existing valuation allowance on deferred tax assets as a result of the net deferred tax liabilities assumed in connection with the Merger.
[7] Results included approximately $0.4 million in transaction-related costs associated with the Merger.
[8] Results included gain on sale of cost method investment of $0.8 million related to the investment in Rock Ohio Ventures and approximately $0.8 million in transaction-related costs associated with the Merger.