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SEGMENT REPORTING | 12 Months Ended
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Dec. 31, 2016
Segment Reporting [Abstract] |
SEGMENT REPORTING | SEGMENT REPORTING We manage our casinos based on geographic regions within the United States. The casino/resort operations includes four segments: the Silver Slipper Casino and Hotel (Hancock County, Mississippi); Bronco Billy's Casino and Hotel (Cripple Creek, Colorado); the Rising Star Casino Resort (Rising Sun, Indiana); and the Northern Nevada segment, consisting of the Grand Lodge Casino (Incline Village, Nevada) and Stockman’s Casino (Fallon, Nevada). We began including Bronco Billy's Casino and Hotel on May 13, 2016, its acquisition date. The Company's management utilizes Adjusted Property EBITDA as the primary profit measure for its segments. Adjusted Property EBITDA is a non-GAAP measure defined as Adjusted EBITDA before corporate-related costs and expenses that are not allocated to each property. Adjusted EBITDA is a non-GAAP measure defined as earnings before interest and other non-operating income (expense), taxes, depreciation and amortization, pre-opening expenses, impairment charges, asset write-offs, recoveries, gain (loss) from asset disposals, project development and acquisition costs, and non-cash share-based compensation expense. Adjusted EBITDA and Adjusted Property EBITDA should not be construed as an alternative to operating income and net income for use as indicators of our performance; or as an alternative to cash flows from operating activities for use as a measure of liquidity; or as an alternative to any other measure determined in accordance with GAAP. We have significant uses of cash flows, including capital expenditures, interest payments, taxes and debt principal repayments, which are not reflected in Adjusted EBITDA and/or Adjusted Property EBITDA. Also, other companies in the gaming and hospitality industries that report Adjusted EBITDA and/or Adjusted Property EBITDA information may calculate Adjusted EBITDA or Adjusted Property EBITDA in a different manner. The following tables reflect selected operating information for our reporting segments for the year ended December 31, 2016 and 2015 and include a reconciliation of Adjusted Property EBITDA to operating income (loss) and net income (loss):
For the year ended December 31, 2016
(In thousands)
| Silver Slipper Casino & Hotel |  | Bronco Billy's Casino & Hotel |  | Rising Star Casino Resort |  | Northern Nevada |  | Corporate |  | Consolidated
Revenues, net | $ | 59,093 |  |  | $ | 16,220 |  |  | $ | 49,472 |  |  | $ | 21,207 |  |  | $ | — |  |  | $ | 145,992 |
Adjusted Property EBITDA | $ | 9,994 |  |  | $ | 3,423 |  |  | $ | 2,931 |  |  | $ | 3,941 |  |  | $ | — |  |  | $ | 20,289 |
Other operating costs and expenses: |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization | 3,308 |  |  | 1,215 |  |  | 2,645 |  |  | 746 |  |  | 14 |  |  | 7,928 |
Loss on asset disposals, net | 32 |  |  | 8 |  |  | 9 |  |  | 295 |  |  | — |  |  | 344 |
Corporate expenses | — |  |  | — |  |  | — |  |  | — |  |  | 4,105 |  |  | 4,105 |
Project development and acquisition costs | — |  |  | — |  |  | — |  |  | — |  |  | 1,314 |  |  | 1,314 |
Stock compensation | — |  |  | — |  |  | — |  |  | — |  |  | 409 |  |  | 409 |
Operating income (loss) | 6,654 |  |  | 2,200 |  |  | 277 |  |  | 2,900 |  |  | (5,842 | ) |  | 6,189 |
Non-operating expense (income): |  |  |  |  |  |  |  |  |  |  |
Interest expense | 18 |  |  | — |  |  | 208 |  |  | — |  |  | 9,260 |  |  | 9,486 |
Debt modification costs | — |  |  | — |  |  | — |  |  | — |  |  | 624 |  |  | 624 |
Adjustment to fair value of warrants and other | — |  |  | — |  |  | — |  |  | — |  |  | 543 |  |  | 543 |
Non-operating expense | 18 |  |  | — |  |  | 208 |  |  | — |  |  | 10,427 |  |  | 10,653 |
Income (loss) before income taxes | 6,636 |  |  | 2,200 |  |  | 69 |  |  | 2,900 |  |  | (16,269 | ) |  | (4,464 | )
Provision for income taxes | 402 |  |  | 209 |  |  | — |  |  | — |  |  | 19 |  |  | 630 |
Net income (loss) | $ | 6,234 |  |  | $ | 1,991 |  |  | $ | 69 |  |  | $ | 2,900 |  |  | $ | (16,288 | ) |  | $ | (5,094 | )
For the year ended December 31, 2015
(In thousands)
| Silver Slipper Casino & Hotel |  | Bronco Billy's Casino & Hotel |  | Rising Star Casino Resort |  | Northern Nevada |  | Corporate |  | Consolidated
Revenues, net | $ | 56,836 |  |  | $ | — |  |  | $ | 47,557 |  |  | $ | 20,038 |  |  | $ | — |  |  | $ | 124,431 |
Adjusted Property EBITDA | $ | 9,925 |  |  | $ | — |  |  | $ | 4,005 |  |  | $ | 3,877 |  |  | $ | — |  |  | $ | 17,807 |
Other operating costs and expenses: |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization | 4,383 |  |  | — |  |  | 2,714 |  |  | 781 |  |  | 15 |  |  | 7,893 |
Write-offs, recoveries and asset disposals | 3 |  |  | — |  |  | — |  |  | 80 |  |  | (446 | ) |  | (363 | )
Pre-opening costs | 156 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 156 |
Corporate expenses | — |  |  | — |  |  | — |  |  | — |  |  | 3,843 |  |  | 3,843 |
Project development and acquisition costs | — |  |  | — |  |  | — |  |  | — |  |  | 891 |  |  | 891 |
Stock compensation | — |  |  | — |  |  | — |  |  | — |  |  | 343 |  |  | 343 |
Operating income (loss) | 5,383 |  |  | — |  |  | 1,291 |  |  | 3,016 |  |  | (4,646 | ) |  | 5,044 |
Non-operating expense (income): |  |  |  |  |  |  |  |  |  |  |
Interest expense | 18 |  |  | — |  |  | 179 |  |  | — |  |  | 6,518 |  |  | 6,715 |
Other | — |  |  | — |  |  | (11 | ) |  | — |  |  | (1 | ) |  | (12 | )
Non-operating expense | 18 |  |  | — |  |  | 168 |  |  | — |  |  | 6,517 |  |  | 6,703 |
Income (loss) before income taxes | 5,365 |  |  | — |  |  | 1,123 |  |  | 3,016 |  |  | (11,163 | ) |  | (1,659 | )
Provision (benefit) for income taxes | 307 |  |  | — |  |  | (343 | ) |  | (168 | ) |  | (138 | ) |  | (342 | )
Net income (loss) | $ | 5,058 |  |  | $ | — |  |  | $ | 1,466 |  |  | $ | 3,184 |  |  | $ | (11,025 | ) |  | $ | (1,317 | )
Selected balance sheet data as of December 31, 2016 and 2015 is as follows:
At December 31, 2016 (In thousands) |  |  |  |  |  |  |
| Silver Slipper Casino and Hotel |  | Bronco Billy's Casino and Hotel |  | Rising Star Casino Resort |  | Northern Nevada |  | Corporate |  | Consolidated
Total assets | $ | 79,975 |  |  | $ | 36,732 |  |  | $ | 36,444 |  |  | $ | 12,722 |  |  | $ | 11,375 |  |  | $ | 177,248 |
Property and equipment, net | 58,856 |  |  | 16,020 |  |  | 29,819 |  |  | 6,202 |  |  | 568 |  |  | 111,465 |
Goodwill | 14,671 |  |  | 4,806 |  |  | — |  |  | 1,809 |  |  | — |  |  | 21,286 |
At December 31, 2015 (In thousands) |  |  |  |  |  |  |
| Silver Slipper Casino and Hotel |  | Bronco Billy's Casino and Hotel |  | Rising Star Casino Resort |  | Northern Nevada |  | Corporate |  | Consolidated
Total assets | $ | 82,621 |  |  | $ | — |  |  | $ | 37,141 |  |  | $ | 12,105 |  |  | $ | 9,600 |  |  | $ | 141,467 |
Property and equipment, net | 61,150 |  |  | — |  |  | 31,391 |  |  | 6,098 |  |  | 343 |  |  | 98,982 |
Goodwill | 14,671 |  |  | — |  |  | — |  |  | 1,809 |  |  | — |  |  | 16,480 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599 Reference 14: 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=68060357&loc=d3e8906-108599 + Details
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