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Revenues

3 Months Ended

Dec. 31, 2018

Revenue from Contract with Customer [Abstract]

Revenues

4. Revenues

On October 1, 2018, the Company adopted ASC Topic 606, Revenue from Contracts with Customers (formerly ASU 2014-09). The Company recognizes revenue from the sale of alcoholic beverages, food and merchandise, service and other revenues at the point-of-sale upon receipt of cash, check, or credit card charge, net of discounts and promotional allowances based on consideration specified in implied contracts with customers. Sales and liquor taxes collected from customers and remitted to governmental authorities are presented on a net basis in the accompanying consolidated statements of income. The Company recognizes revenue when it satisfies a performance obligation (point in time of sale) by transferring control over a product or service to a customer.

Commission revenues, such as ATM commission, are recognized when the basis for such commission has transpired. Revenues from the sale of magazines and advertising content are recognized when the issue is published and shipped. Revenues and external expenses related to the Company’s annual Expo convention are recognized upon the completion of the convention, which normally occurs during our fiscal fourth quarter. Other rental revenues are recognized when earned (recognized over time) and are more appropriately covered by guidance under ASC Topic 840, Leases.

Revenues, as disaggregated by revenue type, timing of recognition, and reportable segment (see Note 11), are shown below.

		Nightclubs				Bombshells				Other
Quarter ended December 31, 2018:
Sales of alcoholic beverages		$	14,802			$	3,508			$	-
Sales of food and merchandise			3,207				2,483				-
Service revenues			17,313				18				-
Other revenues			2,406				4				282
		$	37,728			$	6,013			$	282

Recognized at a point in time		$	37,392			$	6,013			$	267
Recognized over time		$	336	*		$	-			$	15

Quarter ended December 31, 2017:
Sales of alcoholic beverages		$	14,125			$	3,680			$	-
Sales of food and merchandise			3,162				2,145				-
Service revenues			15,889				-				-
Other revenues			2,042				3				166
		$	35,218			$	5,828			$	166

Recognized at a point in time		$	34,927			$	5,828			$	145
Recognized over time		$	291	*		$	-			$	21

* Rental revenue (included in Other Revenues) as covered by ASC Topic 840. All other revenues are covered by ASC Topic 606.

The Company does not have contract assets with customers. The Company’s unconditional right to consideration for goods and services transferred to the customer is included in accounts receivable, net in our consolidated balance sheet. A reconciliation of contract liabilities with customers is presented below:

		Balance at September 30, 2018				Consideration Received				Recognized in Revenue				Balance at December 31, 2018
Ad revenue		$	126			$	274			$	(181	)		$	219
Expo revenue			-				201				-				201
Other			8				1				-				9
		$	134			$	476			$	(181	)		$	429

Contract liabilities with customers are included in accrued liabilities as unearned revenues in our consolidated balance sheets (see also Note 5), while the revenues associated with these contract liabilities are included in other revenues in our consolidated statements of income.