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Segment Information (Tables)
 6 Months Ended
Jun. 30, 2024
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)2024202320242023
Revenues
Nevada Casino Resorts
Gaming$38,313 $38,625 $78,602 $80,918 
Food and beverage23,951 24,473 48,214 48,704 
Rooms28,878 26,353 55,827 52,563 
Other9,951 13,111 19,462 20,553 
Nevada Casino Resorts revenues$101,093 $102,562 $202,105 $202,738 
Nevada Locals Casinos
Gaming$26,211 $28,796 $54,031 $58,445 
Food and beverage6,922 6,564 13,575 13,255 
Rooms2,544 2,416 4,995 5,238 
Other2,189 2,053 4,256 4,129 
Nevada Locals Casinos revenues$37,866 $39,829 $76,857 $81,067 
Nevada Taverns
Gaming$13,723 $13,187 $26,582 $26,212 
Food and beverage12,24012,96224,96826,267
Other2,1891,1704,4092,433
Nevada Taverns revenues$28,152 $27,319 $55,959 $54,912 
Distributed Gaming (1)
Gaming$— $87,326 $5,981 $175,932 
Food and beverage— 187 17 365 
Other— 1,571 21 3,188 
Distributed Gaming revenues$— $89,084 $6,019 $179,485 
Maryland Casino Resort (2)
Gaming$— $14,421 $— $28,935 
Food and beverage— 2,348 — 4,214 
Rooms— 2,149 — 3,694 
Other— 687 — 890 
Maryland Casino Resort revenues$— $19,605 $— $37,733 
Corporate and other223 8,282 441 8,797 
Total revenues$167,334 $286,681 $341,381 $564,732 
(1) Comprised of distributed gaming operations in Montana (for the three and six months ended June 30, 2023 only) and Nevada, which were sold on September 13, 2023 and January 10, 2024, respectively.
(2) Comprised of the operations of Rocky Gap, which was sold on July 25, 2023.
Three Months Ended June 30,Six Months Ended June 30,
(In thousands)2024202320242023
Adjusted EBITDA
Nevada Casino Resorts$27,392 $28,044 $54,283 $59,755 
Nevada Locals Casinos16,928 19,471 34,464 39,631 
Nevada Taverns7,791 8,450 15,352 16,988 
Distributed Gaming (1)
— 9,950 484 19,734 
Maryland Casino Resort (2)
— 5,898 — 11,026 
Corporate and other(10,919)(13,403)(22,399)(26,557)
Total Adjusted EBITDA41,192 58,410 82,184 120,577 
Adjustments
Depreciation and amortization(22,616)(21,454)(44,736)(44,962)
Non-cash lease benefit (expense)148 9 233 (24)
Share-based compensation(2,450)(3,288)(5,719)(7,181)
Gain (loss) on disposal of assets— 34 (14)120 
(Loss) gain on sale of business(792)— 68,944 — 
Loss on debt extinguishment and modification(4,446)(405)(4,446)(405)
Preopening and related expenses (3)
(4)(141)(143)(525)
Transaction costs(337)(170)(2,275)(277)
Other, net(1,606)2,338 (4,797)660 
Interest expense, net(8,610)(18,803)(19,296)(37,039)
Income tax benefit (provision)144 (4,248)(27,349)(7,032)
Net income$623 $12,282 $42,586 $23,912 
(1) Comprised of distributed gaming operations in Montana (for the three and six months ended June 30, 2023 only) and Nevada, which were sold on September 13, 2023 and January 10, 2024, respectively.
(2) Comprised of the operations of Rocky Gap, which was sold July 25, 2023.
(3) Preopening and related expenses consist of labor, food, utilities, training, initial licensing, rent and organizational costs incurred in connection with the opening of branded taverns and 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 ResortsNevada Locals CasinosNevada TavernsDistributed GamingCorporate and OtherConsolidated
Balance at June 30, 2024$736,170 $161,237 $158,986 $— $124,828 $1,181,221 
Balance at December 31, 2023$758,622 $160,059 $148,250 $204,271 $181,081 $1,452,283