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Revenues

12 Months Ended

Sep. 30, 2019

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 (under ASC 842 commencing on October 1, 2019).

Revenues, as disaggregated by revenue type, timing of recognition, and reportable segment (see also Note 18), are shown below (in thousands).

		Fiscal 2019
		Nightclubs				Bombshells				Other				Total
Sales of alcoholic beverages		$	57,277			$	17,863			$	-			$	75,140
Sales of food and merchandise			13,051				12,779				-				25,830
Service revenues			67,893				162				-				68,055
Other revenues			10,385				24				1,625				12,034
		$	148,606			$	30,828			$	1,625			$	181,059

Recognized at a point in time		$	146,938			$	30,828			$	1,572			$	179,338
Recognized over time			1,668				-				53				1,721
		$	148,606			$	30,828			$	1,625			$	181,059

		Fiscal 2018
		Nightclubs				Bombshells				Other				Total
Sales of alcoholic beverages		$	54,800			$	14,320			$	-			$	69,120
Sales of food and merchandise			12,732				9,701				-				22,433
Service revenues			64,054				50				-				64,104
Other revenues			8,474				23				1,594				10,091
		$	140,060			$	24,094			$	1,594			$	165,748

Recognized at a point in time		$	138,847			$	24,094			$	1,516			$	164,457
Recognized over time			1,213				-				78				1,291
		$	140,060			$	24,094			$	1,594			$	165,748

		Fiscal 2017
		Nightclubs				Bombshells				Other				Total
Sales of alcoholic beverages		$	48,655			$	11,784			$	-			$	60,439
Sales of food and merchandise			11,346				6,910				-				18,256
Service revenues			58,013				119				-				58,132
Other revenues			6,673				17				1,379				8,069
		$	124,687			$	18,830			$	1,379			$	144,896

Recognized at a point in time		$	123,557			$	18,830			$	1,273			$	143,660
Recognized over time			1,130				-				106				1,236
		$	124,687			$	18,830			$	1,379			$	144,896

* Rental revenue (included in Other Revenues) is covered by ASC Topic 840 until the end of fiscal 2019. Effective October 1, 2019, rental revenue will be reported under the guidance of ASC 842. 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, included in accrued liabilities in our consolidated balance sheets, is presented below:

		Balance at September 30, 2018				Consideration Received				Recognized in Revenue				Balance at September 30, 2019
Ad revenue		$	126			$	602			$	(652	)		$	76
Expo revenue			-				602				(602	)			-
Other			8				52				(53	)			7
		$	134			$	1,256			$	(1,307	)		$	83