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SEGMENT REPORTING AND DISAGGREGATED REVENUE (Tables) | 6 Months Ended
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Jun. 30, 2024
SEGMENT REPORTING AND DISAGGREGATED REVENUE |
Schedule of Total Revenues By Segment | The following tables present the Company’s segment information: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(In thousands) | ​ | Three Months Ended June 30, 2024
​ | ​ | ​ | ​ | ​ | ​ | Contracted | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Sports | ​ | ​
​ | ​ | Midwest & South | ​ | West | ​ | Wagering | ​ | Total
Revenues | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Casino | ​ | $ | 43,051 | ​ | $ | 11,634 | ​ | $ | — | ​ | $ | 54,685
Food and beverage | ​ |  | 8,683 | ​ |  | 1,720 | ​ |  | — | ​ |  | 10,403
Hotel | ​ |  | 2,126 | ​ |  | 1,616 | ​ |  | — | ​ |  | 3,742
Other operations, including contracted sports wagering | ​ |  | 1,598 | ​ |  | 181 | ​ |  | 2,883 | ​ |  | 4,662
​ | ​ | $ | 55,458 | ​ | $ | 15,151 | ​ | $ | 2,883 | ​ | $ | 73,492
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Adjusted Segment EBITDA | ​ | $ | 12,275 | ​ | $ | 865 | ​ | $ | 2,577 | ​ | $ | 15,717
Other operating costs and expenses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation and amortization | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (10,326)
Corporate expenses | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (1,576)
Project development costs | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (3)
Preopening costs | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (757)
Stock-based compensation | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (740)
Operating income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 2,315
Other expense: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest expense, net | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (11,023)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (11,023)
Loss before income taxes | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (8,708)
Income tax benefit | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (79)
Net loss | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | (8,629)
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(In thousands) | ​ | Three Months Ended June 30, 2023
​ | ​ | ​ | ​ | ​ | ​ | Contracted | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Sports | ​ | ​
​ | ​ | Midwest & South | ​ | West | ​ | Wagering | ​ | Total
Revenues | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Casino | ​ | $ | 38,281 | ​ | $ | 7,078 | ​ | $ | — | ​ | $ | 45,359
Food and beverage | ​ |  | 7,894 | ​ |  | 779 | ​ |  | — | ​ |  | 8,673
Hotel | ​ |  | 2,229 | ​ |  | 119 | ​ |  | — | ​ |  | 2,348
Other operations, including contracted sports wagering | ​ |  | 1,507 | ​ |  | 113 | ​ |  | 1,382 | ​ |  | 3,002
​ | ​ | $ | 49,911 | ​ | $ | 8,089 | ​ | $ | 1,382 | ​ | $ | 59,382
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Adjusted Segment EBITDA | ​ | $ | 9,391 | ​ | $ | 177 | ​ | $ | 1,361 | ​ | $ | 10,929
Other operating costs and expenses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation and amortization | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (8,155)
Corporate expenses | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (422)
Project development costs | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (17)
Preopening costs | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (1,086)
Stock-based compensation | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (655)
Operating income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 594
Other expense: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest expense, net | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (5,633)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (5,633)
Loss before income taxes | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (5,039)
Income tax provision | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 561
Net loss | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | (5,600)
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(In thousands) | ​ | Six Months Ended June 30, 2024
​ | ​ | ​ | ​ | ​ | ​ | Contracted | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Sports | ​ | ​
​ | ​ | Midwest & South | ​ | West | ​ | Wagering | ​ | Total
Revenues | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Casino | ​ | $ | 83,960 | ​ | $ | 22,398 | ​ | $ | — | ​ | $ | 106,358
Food and beverage | ​ |  | 17,193 | ​ |  | 2,979 | ​ |  | — | ​ |  | 20,172
Hotel | ​ |  | 4,132 | ​ |  | 2,462 | ​ |  | — | ​ |  | 6,594
Other operations, including contracted sports wagering | ​ |  | 4,803 | ​ |  | 346 | ​ |  | 5,143 | ​ |  | 10,292
​ | ​ | $ | 110,088 | ​ | $ | 28,185 | ​ | $ | 5,143 | ​ | $ | 143,416
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Adjusted Segment EBITDA | ​ | $ | 24,958 | ​ | $ | 731 | ​ | $ | 4,512 | ​ | $ | 30,201
Other operating costs and expenses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation and amortization | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (20,951)
Corporate expenses | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (3,651)
Project development costs | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (3)
Preopening costs | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (2,420)
Loss on disposal of assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (18)
Stock-based compensation | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (1,449)
Operating income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 1,709
Other expense: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest expense, net | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (21,273)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (21,273)
Loss before income taxes | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (19,564)
Income tax provision | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 337
Net loss | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | (19,901)
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(In thousands) | ​ | Six Months Ended June 30, 2023
​ | ​ | ​ | ​ | ​ | ​ | Contracted | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Sports | ​ | ​
​ | ​ | Midwest & South | ​ | West | ​ | Wagering | ​ | Total
Revenues | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Casino | ​ | $ | 67,133 | ​ | $ | 14,213 | ​ | $ | — | ​ | $ | 81,346
Food and beverage | ​ |  | 14,791 | ​ |  | 1,542 | ​ |  | — | ​ |  | 16,333
Hotel | ​ |  | 4,269 | ​ |  | 223 | ​ |  | — | ​ |  | 4,492
Other operations, including contracted sports wagering | ​ |  | 4,520 | ​ |  | 235 | ​ |  | 2,562 | ​ |  | 7,317
​ | ​ | $ | 90,713 | ​ | $ | 16,213 | ​ | $ | 2,562 | ​ | $ | 109,488
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Adjusted Segment EBITDA | ​ | $ | 20,077 | ​ | $ | 234 | ​ | $ | 2,522 | ​ | $ | 22,833
Other operating costs and expenses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation and amortization | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (14,014)
Corporate expenses | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (2,201)
Project development costs | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (24)
Preopening costs | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (11,583)
Stock-based compensation | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (1,403)
Operating loss | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (6,392)
Other (expense) income: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest expense, net | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (10,452)
Gain on insurance settlement | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 355
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (10,097)
Loss before income taxes | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (16,489)
Income tax provision | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 526
Net loss | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | (17,015)
​
Schedule of Total Assets By Segment | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(In thousands) | ​ | June 30, | ​ | December 31,
​ |  | 2024 |  | 2023
Total Assets | ​ | ​ | ​ | ​ | ​ | ​
Midwest & South | ​ | $ | 297,567 | ​ | $ | 298,072
West | ​ |  | 359,933 | ​ |  | 372,875
Contracted Sports Wagering | ​ | ​ | 1,477 | ​ | ​ | 977
Corporate and Other | ​ |  | 14,941 | ​ |  | 16,533
​ | ​ | $ | 673,918 | ​ | $ | 688,457
​

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