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Segment Information (Tables)

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

Due to the Company’s use of Adjusted EBITDA as its measure of profit for its reportable segments, the Company includes a reconciliation of the total of the Company’s consolidated Adjusted EBITDA to the Company’s consolidated net income determined in accordance with GAAP. The Company also discloses Adjusted EBITDA at the reportable segment level, as set forth in the table below:

						Three Months Ended June 30,												Six Months Ended June 30,
(In thousands)						2023						2022						2023						2022
Revenues
Nevada Casino Resorts
Gaming						$	38,625					$	46,114					$	80,918					$	90,344
Food and beverage						24,473						23,123						48,704						44,507
Rooms						26,353						28,573						52,563						50,602
Other						13,111						9,688						20,553						18,480
Nevada Casino Resorts revenues						$	102,562					$	107,498					$	202,738					$	203,933
Nevada Locals Casinos
Gaming						$	28,796					$	29,048					$	58,445					$	58,429
Food and beverage						6,564						6,301						13,255						12,480
Rooms						2,416						2,529						5,238						4,773
Other						2,053						1,907						4,129						3,992
Nevada Locals Casinos revenues						$	39,829					$	39,785					$	81,067					$	79,674
Maryland Casino Resort
Gaming						$	14,421					$	15,456					$	28,935					$	29,913
Food and beverage						2,348						2,222						4,214						3,870
Rooms						2,149						2,072						3,694						3,545
Other						687						796						890						1,110
Maryland Casino Resort revenues						$	19,605					$	20,546					$	37,733					$	38,438
Nevada Taverns
Gaming						$	13,187					$	14,289					$	26,212					$	28,611
Food and beverage						12,962						12,630						26,267						25,683
Other						1,170						1,225						2,433						2,304
Nevada Taverns revenue						$	27,319					$	28,144					$	54,912					$	56,598
Distributed Gaming
Gaming						$	87,326					$	91,772					$	175,932					$	180,169
Food and beverage						187						175						365						367
Other						1,571						1,278						3,188						3,457
Distributed Gaming revenues						$	89,084					$	93,225					$	179,485					$	183,993
Corporate and other						8,282						174						8,797						380
Total revenues						$	286,681					$	289,372					$	564,732					$	563,016

						Three Months Ended June 30,												Six Months Ended June 30,
(In thousands)						2023						2022						2023						2022
Adjusted EBITDA
Nevada Casino Resorts						$	28,044					$	38,892					$	59,755					$	72,467
Nevada Locals Casinos						19,471						19,795						39,631						39,833
Maryland Casino Resort						5,898						7,242						11,026						12,814
Nevada Taverns						8,450						10,654						16,988						21,430
Distributed Gaming						9,950						11,540						19,734						22,817
Corporate and other						(13,403)						(13,107)						(26,557)						(27,020)
Total Adjusted EBITDA						58,410						75,016						120,577						142,341
Adjustments
Depreciation and amortization						(21,454)						(25,332)						(44,962)						(51,608)
Non-cash lease expense						9						(230)						(24)						(411)
Share-based compensation						(3,288)						(3,311)						(7,181)						(6,983)
Gain (loss) on disposal of assets						34						(710)						120						(669)
Loss on debt extinguishment and modification						(405)						(1,073)						(405)						(1,254)
Preopening and related expenses (1)						(141)						(4)						(525)						(59)
Other, net						2,168						(838)						383						(5,134)
Interest expense, net						(18,803)						(14,738)						(37,039)						(29,856)
Income tax (provision) benefit						(4,248)						(7,560)						(7,032)						10,919
Net Income						$	12,282					$	21,220					$	23,912					$	57,286

(1) Preopening and related expenses consist of labor, food, utilities, training, initial licensing, rent and organizational costs incurred in connection with the opening of branded tavern and casino locations as well as food and beverage and other venues within the casino locations.

The Company’s assets by reportable segment consisted of the following amounts:

(In thousands)			Nevada Casino Resorts						Nevada Locals Casinos						Maryland Casino Resort						Nevada Taverns						Distributed Gaming						Corporate and Other						Consolidated
Balance at June 30, 2023			$	780,041					$	159,834					$	41,236					$	134,849					$	248,574					$	129,712					$	1,494,246
Balance at December 31, 2022			$	784,242					$	164,580					$	39,562					$	145,065					$	258,260					$	116,961					$	1,508,670

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-25

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

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No definition available.

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