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SEGMENT REPORTING (Tables) | 9 Months Ended
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Sep. 30, 2015
Segment Reporting [Abstract] |
Schedule of selected statement of operations data | The following tables reflect selected operating information for our reporting segments for the three and nine months ended September 30, 2015 and 2014 and include a reconciliation of Adjusted Property EBITDA to operating income (loss) and net income (loss):
For the three months ended September 30, 2015
(In thousands, unaudited)
| Casino/Resort Operations |  |  |  |  |  |
| Northern Nevada |  | Rising Star Casino Resort |  | Silver Slipper Casino & Hotel |  | Development/ Management |  | Corporate |  | Consolidated
Revenues, net | $ | 6,809 |  |  | $ | 12,563 |  |  | $ | 14,894 |  |  | $ | — |  |  | $ | — |  |  | $ | 34,266 |
Adjusted Property EBITDA | $ | 2,227 |  |  | $ | 2,455 |  |  | $ | 2,413 |  |  | $ | — |  |  | $ | — |  |  | $ | 7,095 |
Other operating costs and expenses: |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization | 199 |  |  | 678 |  |  | 1,322 |  |  | — |  |  | 4 |  |  | 2,203 |
Preopening costs | — |  |  | — |  |  | 21 |  |  | — |  |  | — |  |  | 21 |
Corporate expenses | — |  |  | — |  |  | — |  |  | — |  |  | 844 |  |  | 844 |
Project development and acquisition costs | — |  |  | — |  |  | — |  |  | 709 |  |  | — |  |  | 709 |
Stock compensation | — |  |  | — |  |  | — |  |  | — |  |  | 57 |  |  | 57 |
Operating income (loss) | 2,028 |  |  | 1,777 |  |  | 1,070 |  |  | (709 | ) |  | (905 | ) |  | 3,261 |
Non-operating expense: |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net of amounts capitalized | — |  |  | 40 |  |  | 4 |  |  | — |  |  | 1,785 |  |  | 1,829 |
Non-operating expense | — |  |  | 40 |  |  | 4 |  |  | — |  |  | 1,785 |  |  | 1,829 |
Income (loss) before income taxes | 2,028 |  |  | 1,737 |  |  | 1,066 |  |  | (709 | ) |  | (2,690 | ) |  | 1,432 |
Provision (benefit) for income taxes | — |  |  | (61 | ) |  | 3 |  |  | — |  |  | (545 | ) |  | (603 | )
Net income (loss) | $ | 2,028 |  |  | $ | 1,798 |  |  | $ | 1,063 |  |  | $ | (709 | ) |  | $ | (2,145 | ) |  | $ | 2,035 |
For the three months ended September 30, 2014
(In thousands, unaudited)
| Casino/Resort Operations |  |  |  |  |  |
| Northern Nevada |  | Rising Star Casino Resort |  | Silver Slipper Casino & Hotel |  | Development/ Management |  | Corporate |  | Consolidated
Revenues, net | $ | 7,134 |  |  | $ | 13,399 |  |  | $ | 12,111 |  |  | $ | 273 |  |  | $ | — |  |  | $ | 32,917 |
Adjusted Property EBITDA | $ | 2,463 |  |  | $ | 1,650 |  |  | $ | 1,736 |  |  | $ | 273 |  |  | $ | — |  |  | $ | 6,122 |
Other operating costs and expenses: |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization | 209 |  |  | 766 |  |  | 1,419 |  |  | — |  |  | 4 |  |  | 2,398 |
Corporate expenses | — |  |  | — |  |  | — |  |  | — |  |  | 936 |  |  | 936 |
Project development and acquisition costs | — |  |  | — |  |  | — |  |  | 72 |  |  | — |  |  | 72 |
Stock compensation | — |  |  | — |  |  | — |  |  | — |  |  | 59 |  |  | 59 |
Operating income (loss) | 2,254 |  |  | 884 |  |  | 317 |  |  | 201 |  |  | (999 | ) |  | 2,657 |
Non-operating expense: |  |  |  |  |  |  |  |  |  |  |
Interest expense, net of amounts capitalized | — |  |  | 62 |  |  | 5 |  |  | — |  |  | 1,547 |  |  | 1,614 |
Settlement loss | — |  |  | — |  |  | — |  |  | — |  |  | 1,700 |  |  | 1,700 |
Other | 21 |  |  | 31 |  |  | 9 |  |  | — |  |  | — |  |  | 61 |
Non-operating expense | 21 |  |  | 93 |  |  | 14 |  |  | — |  |  | 3,247 |  |  | 3,375 |
Income (loss) before income taxes | 2,233 |  |  | 791 |  |  | 303 |  |  | 201 |  |  | (4,246 | ) |  | (718 | )
Provision (benefit) for income taxes | 759 |  |  | 471 |  |  | 103 |  |  | 159 |  |  | (1,444 | ) |  | 48 |
Net income (loss) | $ | 1,474 |  |  | $ | 320 |  |  | $ | 200 |  |  | $ | 42 |  |  | $ | (2,802 | ) |  | $ | (766 | )
For the nine months ended September 30, 2015
(In thousands, unaudited)
| Casino/Resort Operations |  |  |  |  |  |
| Northern Nevada |  | Rising Star Casino Resort |  | Silver Slipper Casino & Hotel |  | Development/ Management |  | Corporate |  | Consolidated
Revenues, net | $ | 15,665 |  |  | $ | 35,444 |  |  | $ | 42,967 |  |  | $ | — |  |  | $ | — |  |  | $ | 94,076 |
Adjusted Property EBITDA | $ | 3,269 |  |  | $ | 3,251 |  |  | $ | 7,774 |  |  | $ | — |  |  | $ | — |  |  | $ | 14,294 |
Other operating costs and expenses: |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization | 593 |  |  | 2,039 |  |  | 3,582 |  |  | — |  |  | 11 |  |  | 6,225 |
Write-offs, recoveries and asset disposals | 80 |  |  | — |  |  | — |  |  | — |  |  | (446 | ) |  | (366 | )
Preopening costs | — |  |  | — |  |  | 134 |  |  | — |  |  | — |  |  | 134 |
Corporate expenses | — |  |  | — |  |  | — |  |  | — |  |  | 2,964 |  |  | 2,964 |
Project development and acquisition costs | — |  |  | — |  |  | — |  |  | 760 |  |  | — |  |  | 760 |
Stock compensation | — |  |  | — |  |  | — |  |  | — |  |  | 285 |  |  | 285 |
Operating income (loss) | 2,596 |  |  | 1,212 |  |  | 4,058 |  |  | (760 | ) |  | (2,814 | ) |  | 4,292 |
Non-operating expense (income): |  |  |  |  |  |  |  |  |  |  |
Interest expense, net of amounts capitalized | — |  |  | 124 |  |  | 13 |  |  | — |  |  | 4,739 |  |  | 4,876 |
Other | — |  |  | (11 | ) |  | — |  |  | — |  |  | (1 | ) |  | (12 | )
Non-operating expense | — |  |  | 113 |  |  | 13 |  |  | — |  |  | 4,738 |  |  | 4,864 |
Income (loss) before income taxes | 2,596 |  |  | 1,099 |  |  | 4,045 |  |  | (760 | ) |  | (7,552 | ) |  | (572 | )
Provision (benefit) for income taxes | — |  |  | (61 | ) |  | 8 |  |  | — |  |  | (372 | ) |  | (425 | )
Net income (loss) | $ | 2,596 |  |  | $ | 1,160 |  |  | $ | 4,037 |  |  | $ | (760 | ) |  | $ | (7,180 | ) |  | $ | (147 | )
For the nine months ended September 30, 2014
(In thousands, unaudited)
| Casino/Resort Operations |  |  |  |  |  |
| Northern Nevada |  | Rising Star Casino Resort |  | Silver Slipper Casino & Hotel |  | Development/ Management |  | Corporate |  | Consolidated
Revenues, net | $ | 16,543 |  |  | $ | 40,188 |  |  | $ | 36,879 |  |  | $ | 1,066 |  |  | $ | — |  |  | $ | 94,676 |
Adjusted Property EBITDA | $ | 3,847 |  |  | $ | 2,503 |  |  | $ | 6,009 |  |  | $ | 1,066 |  |  | $ | — |  |  | $ | 13,425 |
Other operating costs and expenses: |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization | 640 |  |  | 2,305 |  |  | 4,207 |  |  | — |  |  | 13 |  |  | 7,165 |
Impairment | — |  |  | 11,547 |  |  | — |  |  | — |  |  | — |  |  | 11,547 |
Write-offs, recoveries and asset disposals | — |  |  | 8 |  |  | 13 |  |  | — |  |  | 30 |  |  | 51 |
Corporate expenses | — |  |  | — |  |  | — |  |  | — |  |  | 3,091 |  |  | 3,091 |
Project development and acquisition costs | — |  |  | — |  |  | — |  |  | 407 |  |  | — |  |  | 407 |
Stock compensation | — |  |  | — |  |  | — |  |  | — |  |  | 219 |  |  | 219 |
Operating income (loss) | 3,207 |  |  | (11,357 | ) |  | 1,789 |  |  | 659 |  |  | (3,353 | ) |  | (9,055 | )
Non-operating expense: |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net of amounts capitalized | — |  |  | 157 |  |  | 7 |  |  | — |  |  | 4,538 |  |  | 4,702 |
Settlement loss | — |  |  | — |  |  | — |  |  | — |  |  | 1,700 |  |  | 1,700 |
Other | 20 |  |  | 31 |  |  | 17 |  |  | — |  |  | — |  |  | 68 |
Non-operating expense | 20 |  |  | 188 |  |  | 24 |  |  | — |  |  | 6,238 |  |  | 6,470 |
Income (loss) before income taxes | 3,187 |  |  | (11,545 | ) |  | 1,765 |  |  | 659 |  |  | (9,591 | ) |  | (15,525 | )
Provision (benefit) for income taxes | 1,084 |  |  | (3,821 | ) |  | 600 |  |  | 212 |  |  | (3,261 | ) |  | (5,186 | )
Net income (loss) | $ | 2,103 |  |  | $ | (7,724 | ) |  | $ | 1,165 |  |  | $ | 447 |  |  | $ | (6,330 | ) |  | $ | (10,339 | )
Selected balance sheet data as of September 30, 2015 and December 31, 2014 follows:
As of September 30, 2015
(In thousands, unaudited)
| Casino/Resort Operations |  |
| Northern Nevada |  | Rising Star Casino Resort |  | Silver Slipper Casino & Hotel |  | Development/ Management |  | Corporate |  | Consolidated
Total assets | $ | 12,110 |  |  | $ | 37,231 |  |  | $ | 83,035 |  |  | $ | 2,742 |  |  | $ | 11,168 |  |  | $ | 146,286 |
Property, equipment and capital lease, net | 6,220 |  |  | 31,792 |  |  | 61,856 |  |  | 242 |  |  | 24 |  |  | 100,134 |
Goodwill | 1,809 |  |  | — |  |  | 14,671 |  |  | — |  |  | — |  |  | 16,480 |
Liabilities | 1,649 |  |  | 10,856 |  |  | 4,048 |  |  | — |  |  | 72,098 |  |  | 88,651 |
As of December 31, 2014
(In thousands)
| Casino/Resort Operations |  |
| Northern Nevada |  | Rising Star Casino Resort |  | Silver Slipper Casino & Hotel |  | Development/ Management |  | Corporate |  | Consolidated
Total assets | $ | 12,471 |  |  | $ | 39,101 |  |  | $ | 76,898 |  |  | $ | — |  |  | $ | 12,474 |  |  | $ | 140,944 |
Property, equipment and capital lease, net | 6,656 |  |  | 33,801 |  |  | 54,548 |  |  | — |  |  | 35 |  |  | 95,040 |
Goodwill | 1,809 |  |  | — |  |  | 14,671 |  |  | — |  |  | — |  |  | 16,480 |
Liabilities | 1,970 |  |  | 11,543 |  |  | 4,182 |  |  | — |  |  | 65,752 |  |  | 83,447 |

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8736-108599 + Details
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