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SEGMENT REPORTING AND DISAGGREGATED REVENUE | 6 Months Ended
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Jun. 30, 2020
SEGMENT REPORTING AND DISAGGREGATED REVENUE |
SEGMENT REPORTING AND DISAGGREGATED REVENUE | 11. SEGMENT REPORTING AND DISAGGREGATED REVENUE The Company manages its casinos based on geographic regions within the United States. The casino/resort operations include four segments: Silver Slipper Casino and Hotel (Hancock County, Mississippi); Rising Star Casino Resort, consisting of Rising Star Casino Resort (Rising Sun, Indiana) and its ferry boat operations (connecting Rising Sun, Indiana with Boone County, Kentucky); Bronco Billy’s Casino and Hotel (including the Christmas Casino & Inn, both in Cripple Creek, Colorado); and the Northern Nevada segment, consisting of Grand Lodge Casino (Incline Village, Nevada) and Stockman’s Casino (Fallon, Nevada). The Company utilizes Adjusted Property EBITDA as the measure of segment profit in assessing performance and allocating resources at the reportable segment level. Adjusted Property EBITDA is 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, non-cash share-based compensation expense, and corporate-related costs and expenses that are not allocated to each property. The following tables present the Company’s segment information:
(In thousands) |  | Three Months Ended June 30, 2020
|  | Silver |  |  |  |  | Bronco |  |  |  |  |  |  |  |  |
|  | Slipper |  | Rising Star |  | Billy’s |  | Northern |  |  |  |  |  |
|  | Casino |  | Casino |  | Casino |  | Nevada |  |  |  |  |  |
|  | and Hotel |  | Resort |  | and Hotel |  | Casinos |  | Corporate |  | Total
Total Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Casino |  | $ | 6,645 |  | $ | 1,824 |  | $ | 1,486 |  | $ | 1,000 |  | $ | — |  | $ | 10,955
Food and beverage |  |  | 1,757 |  |  | 91 |  |  | 88 |  |  | 58 |  |  | — |  |  | 1,994
Hotel |  |  | 560 |  |  | 118 |  |  | 41 |  |  | — |  |  | — |  |  | 719
Other operations |  |  | 160 |  |  | 554 |  |  | 101 |  |  | 28 |  |  | — |  |  | 843
|  | $ | 9,122 |  | $ | 2,587 |  | $ | 1,716 |  | $ | 1,086 |  | $ | — |  | $ | 14,511
Adjusted Property EBITDA |  | $ | 1,200 |  | $ | (995) |  | $ | (118) |  | $ | (562) |  | $ | — |  | $ | (475)
Other operating costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,980)
Corporate expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (910)
Project development costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (259)
Loss on disposal of asset, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (439)
Stock-based compensation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (103)
Operating loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (4,166)
Other (expense) income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,447)
Adjustment to fair value of warrants |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (94)
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,541)
Loss before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (6,707)
Income tax benefit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (4)
Net loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (6,703)
(In thousands) |  | Three Months Ended June 30, 2019
|  | Silver |  |  |  |  | Bronco |  |  |  |  |  |  |  |  |
|  | Slipper |  | Rising Star |  | Billy’s |  | Northern |  |  |  |  |  |
|  | Casino |  | Casino |  | Casino |  | Nevada |  |  |  |  |  |
|  | and Hotel |  | Resort |  | and Hotel |  | Casinos |  | Corporate |  | Total
Total Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Casino |  | $ | 11,636 |  | $ | 7,526 |  | $ | 5,563 |  | $ | 3,725 |  | $ | — |  | $ | 28,450
Food and beverage |  |  | 5,515 |  |  | 1,800 |  |  | 1,051 |  |  | 497 |  |  | — |  |  | 8,863
Hotel |  |  | 1,305 |  |  | 1,560 |  |  | 186 |  |  | — |  |  | — |  |  | 3,051
Other operations |  |  | 436 |  |  | 712 |  |  | 77 |  |  | 74 |  |  | — |  |  | 1,299
|  | $ | 18,892 |  | $ | 11,598 |  | $ | 6,877 |  | $ | 4,296 |  | $ | — |  | $ | 41,663
Adjusted Property EBITDA |  | $ | 3,594 |  | $ | 604 |  | $ | 876 |  | $ | 417 |  | $ | — |  | $ | 5,491
Other operating costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,083)
Corporate expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,240)
Project development costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (142)
Gain on disposal of assets, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4
Stock-based compensation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (107)
Operating income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,923
Other (expense) income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,931)
Adjustment to fair value of warrants |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 141
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,790)
Loss before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (867)
Income tax provision |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 143
Net loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (1,010)
(In thousands) |  | Six Months Ended June 30, 2020
|  | Silver |  |  |  |  | Bronco |  |  |  |  |  |  |  |  |
|  | Slipper |  | Rising Star |  | Billy’s |  | Northern |  |  |  |  |  |
|  | Casino |  | Casino |  | Casino |  | Nevada |  |  |  |  |  |
|  | and Hotel |  | Resort |  | and Hotel |  | Casinos |  | Corporate |  | Total
Total Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Casino |  | $ | 15,715 |  | $ | 6,852 |  | $ | 5,491 |  | $ | 3,648 |  | $ | — |  | $ | 31,706
Food and beverage |  |  | 6,436 |  |  | 1,244 |  |  | 855 |  |  | 449 |  |  | — |  |  | 8,984
Hotel |  |  | 1,530 |  |  | 976 |  |  | 187 |  |  | — |  |  | — |  |  | 2,693
Other operations |  |  | 534 |  |  | 1,186 |  |  | 164 |  |  | 97 |  |  | — |  |  | 1,981
|  | $ | 24,215 |  | $ | 10,258 |  | $ | 6,697 |  | $ | 4,194 |  | $ | — |  | $ | 45,364
Adjusted Property EBITDA |  | $ | 3,032 |  | $ | (2,088) |  | $ | (596) |  | $ | (953) |  | $ | — |  | $ | (605)
Other operating costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (4,020)
Corporate expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,029)
Project development costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (315)
Loss on disposal of asset, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (439)
Stock-based compensation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (186)
Operating loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (7,594)
Other (expense) income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (4,938)
Adjustment to fair value of warrants |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,562
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (3,376)
Loss before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (10,970)
Income tax provision |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 91
Net loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (11,061)
(In thousands) |  | Six Months Ended June 30, 2019
|  | Silver |  |  |  |  | Bronco |  |  |  |  |  |  |  |  |
|  | Slipper |  | Rising Star |  | Billy’s |  | Northern |  |  |  |  |  |
|  | Casino |  | Casino |  | Casino |  | Nevada |  |  |  |  |  |
|  | and Hotel |  | Resort |  | and Hotel |  | Casinos |  | Corporate |  | Total
Total Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Casino |  | $ | 24,015 |  | $ | 14,869 |  | $ | 10,806 |  | $ | 7,058 |  | $ | — |  | $ | 56,748
Food and beverage |  |  | 10,886 |  |  | 3,613 |  |  | 2,025 |  |  | 997 |  |  | — |  |  | 17,521
Hotel |  |  | 2,449 |  |  | 2,983 |  |  | 334 |  |  | — |  |  | — |  |  | 5,766
Other operations |  |  | 824 |  |  | 1,000 |  |  | 152 |  |  | 146 |  |  | — |  |  | 2,122
|  | $ | 38,174 |  | $ | 22,465 |  | $ | 13,317 |  | $ | 8,201 |  | $ | — |  | $ | 82,157
Adjusted Property EBITDA |  | $ | 7,440 |  | $ | 1,007 |  | $ | 1,491 |  | $ | 408 |  | $ | — |  | $ | 10,346
Other operating costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (4,174)
Corporate expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,518)
Project development costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (275)
Gain on disposal of assets, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 5
Stock-based compensation |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (193)
Operating income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3,191
Other (expense) income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (5,634)
Adjustment to fair value of warrants |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 101
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (5,533)
Loss before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,342)
Income tax provision |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 285
Net loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (2,627)
(In thousands) |  | June 30, |  | December 31,
|  | 2020 |  | 2019
Total Assets |  |  |  |  |  |
Silver Slipper Casino and Hotel |  | $ | 84,928 |  | $ | 87,980
Rising Star Casino Resort |  |  | 39,813 |  |  | 40,277
Bronco Billy's Casino and Hotel |  |  | 46,505 |  |  | 45,034
Northern Nevada Casinos |  |  | 14,023 |  |  | 18,612
Corporate and Other |  |  | 18,122 |  |  | 19,432
|  | $ | 203,391 |  | $ | 211,335

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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