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SEGMENT REPORTING | 12 Months Ended
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Dec. 31, 2020
SEGMENT REPORTING |
SEGMENT REPORTING | 12. SEGMENT REPORTING AND DISAGGREGATED REVENUE We manage our casinos based on geographic regions within the United States. The casino/resort operations include 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). Results related to our sports wagering agreements in Colorado are included in the Bronco Billy’s Casino and Hotel segment, and results related to our sports wagering agreements in Indiana are included in the Rising Star Casino Resort segment. 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 stock-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) |  | Year Ended December 31, 2020
|  | Silver |  |  |  |  | Bronco |  |  |  |  |  |
|  | Slipper |  | Rising Star |  | Billy’s |  | Northern |  |  |
|  | Casino |  | Casino |  | Casino |  | Nevada |  |  |
|  | and Hotel |  | Resort |  | and Hotel |  | Casinos |  | Total
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Casino |  | $ | 42,653 |  | $ | 20,337 |  | $ | 17,127 |  | $ | 10,695 |  | $ | 90,812
Food and beverage |  |  | 14,557 |  |  | 2,681 |  |  | 1,726 |  |  | 802 |  |  | 19,766
Hotel |  |  | 3,899 |  |  | 2,996 |  |  | 515 |  |  | — |  |  | 7,410
Other operations, including online/mobile sports |  |  | 1,404 |  |  | 5,014 |  |  | 948 |  |  | 235 |  |  | 7,601
|  | $ | 62,513 |  | $ | 31,028 |  | $ | 20,316 |  | $ | 11,732 |  | $ | 125,589
Adjusted Property EBITDA |  | $ | 14,669 |  | $ | 3,841 |  | $ | 4,479 |  | $ | 454 |  | $ | 23,443
Other operating costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (7,666)
Corporate expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (3,789)
Project development costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (423)
Loss on disposal of asset, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (684)
Stock-based compensation |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (405)
Operating income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 10,476
Other expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (9,823)
Adjustment to fair value of warrants |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (598)
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | (10,421)
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 55
Income tax benefit |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (92)
Net income |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 147
(In Thousands) |  | Year Ended December 31, 2019
|  | Silver |  |  |  |  | Bronco |  |  |  |  |  |
|  | Slipper |  | Rising Star |  | Billy’s |  | Northern |  |  |
|  | Casino |  | Casino |  | Casino |  | Nevada |  |  |
|  | and Hotel |  | Resort |  | and Hotel |  | Casinos |  | Total
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Casino |  | $ | 44,959 |  | $ | 29,585 |  | $ | 22,075 |  | $ | 16,771 |  | $ | 113,390
Food and beverage |  |  | 21,759 |  |  | 6,980 |  |  | 4,354 |  |  | 1,976 |  |  | 35,069
Hotel |  |  | 4,830 |  |  | 5,932 |  |  | 773 |  |  | — |  |  | 11,535
Other operations, including online/mobile sports |  |  | 1,653 |  |  | 3,123 |  |  | 305 |  |  | 357 |  |  | 5,438
|  | $ | 73,201 |  | $ | 45,620 |  | $ | 27,507 |  | $ | 19,104 |  | $ | 165,432
Adjusted Property EBITDA |  | $ | 13,159 |  | $ | 1,330 |  | $ | 3,000 |  | $ | 3,161 |  | $ | 20,650
Other operating costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (8,331)
Corporate expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (4,710)
Project development costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,037)
Loss on disposal of assets, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (8)
Stock-based compensation |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (348)
Operating income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 6,216
Other expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (10,728)
Adjustment to fair value of warrants |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,230)
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | (11,958)
Loss before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (5,742)
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 80
Net loss |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (5,822)
(In Thousands) |  | December 31,
|  | 2020 |  | 2019
Total Assets |  |  |  |  |  |
Silver Slipper Casino and Hotel |  | $ | 83,809 |  | $ | 87,980
Rising Star Casino Resort |  |  | 38,552 |  |  | 40,277
Bronco Billy’s Casino and Hotel |  |  | 45,536 |  |  | 45,034
Northern Nevada Casinos |  |  | 13,248 |  |  | 18,612
Corporate and Other |  |  | 31,471 |  |  | 19,432
|  | $ | 212,616 |  | $ | 211,335
(In Thousands) |  | December 31,
|  | 2020 |  | 2019
Property and Equipment, net |  |  |  |  |  |
Silver Slipper Casino and Hotel |  | $ | 52,096 |  | $ | 55,127
Rising Star Casino Resort |  |  | 30,571 |  |  | 32,824
Bronco Billy’s Casino and Hotel |  |  | 25,858 |  |  | 25,164
Northern Nevada Casinos |  |  | 6,322 |  |  | 7,297
Corporate and Other |  |  | 925 |  |  | 1,075
|  | $ | 115,772 |  | $ | 121,487

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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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