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SEGMENT REPORTING AND DISAGGREGATED REVENUE (Tables) | 9 Months Ended
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Sep. 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 September 30, 2024
​ | ​ | ​ | ​ | ​ | ​ | Contracted | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Sports | ​ | ​
​ | ​ | Midwest & South | ​ | West | ​ | Wagering | ​ | Total
Revenues | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Casino | ​ | $ | 41,855 | ​ | $ | 14,261 | ​ | $ | — | ​ | $ | 56,116
Food and beverage | ​ |  | 8,866 | ​ |  | 2,234 | ​ |  | — | ​ |  | 11,100
Hotel | ​ |  | 2,136 | ​ |  | 2,557 | ​ |  | — | ​ |  | 4,693
Other operations, including contracted sports wagering | ​ |  | 1,653 | ​ |  | 335 | ​ |  | 1,790 | ​ |  | 3,778
​ | ​ | $ | 54,510 | ​ | $ | 19,387 | ​ | $ | 1,790 | ​ | $ | 75,687
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Adjusted Segment EBITDA | ​ | $ | 10,249 | ​ | $ | 1,198 | ​ | $ | 2,037 | ​ | $ | 13,484
Other operating costs and expenses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation and amortization | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (10,493)
Corporate expenses | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (1,742)
Project development costs | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (52)
Preopening costs | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (42)
Gain on sale of Stockman’s | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 2,000
Stock-based compensation | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (706)
Operating income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 2,449
Other expense: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest expense, net | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (11,047)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (11,047)
Loss before income taxes | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (8,598)
Income tax benefit | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (126)
Net loss | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | (8,472)
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(In thousands) | ​ | Three Months Ended September 30, 2023
​ | ​ | ​ | ​ | ​ | ​ | Contracted | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Sports | ​ | ​
​ | ​ | Midwest & South | ​ | West | ​ | Wagering | ​ | Total
Revenues | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Casino | ​ | $ | 40,341 | ​ | $ | 9,899 | ​ | $ | — | ​ | $ | 50,240
Food and beverage | ​ |  | 8,242 | ​ |  | 844 | ​ |  | — | ​ |  | 9,086
Hotel | ​ |  | 2,369 | ​ |  | 191 | ​ |  | — | ​ |  | 2,560
Other operations, including contracted sports wagering | ​ |  | 1,601 | ​ |  | 151 | ​ |  | 7,905 | ​ |  | 9,657
​ | ​ | $ | 52,553 | ​ | $ | 11,085 | ​ | $ | 7,905 | ​ | $ | 71,543
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Adjusted Segment EBITDA | ​ | $ | 11,750 | ​ | $ | 2,308 | ​ | $ | 7,852 | ​ | $ | 21,910
Other operating costs and expenses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation and amortization | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (8,468)
Corporate expenses | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (1,280)
Project development costs | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (21)
Preopening costs | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (1,051)
Loss on disposal of assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (7)
Stock-based compensation | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (726)
Operating income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 10,357
Other expense: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest expense, net | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (5,867)
Gain on settlements | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 29
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (5,838)
Income before income taxes | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 4,519
Income tax benefit | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (74)
Net income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 4,593
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(In thousands) | ​ | Nine Months Ended September 30, 2024
​ | ​ | ​ | ​ | ​ | ​ | Contracted | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Sports | ​ | ​
​ | ​ | Midwest & South | ​ | West | ​ | Wagering | ​ | Total
Revenues | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Casino | ​ | $ | 125,815 | ​ | $ | 36,659 | ​ | $ | — | ​ | $ | 162,474
Food and beverage | ​ |  | 26,059 | ​ |  | 5,213 | ​ |  | — | ​ |  | 31,272
Hotel | ​ |  | 6,269 | ​ |  | 5,018 | ​ |  | — | ​ |  | 11,287
Other operations, including contracted sports wagering | ​ |  | 6,456 | ​ |  | 681 | ​ |  | 6,933 | ​ |  | 14,070
​ | ​ | $ | 164,599 | ​ | $ | 47,571 | ​ | $ | 6,933 | ​ | $ | 219,103
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Adjusted Segment EBITDA | ​ | $ | 35,206 | ​ | $ | 1,928 | ​ | $ | 6,549 | ​ | $ | 43,683
Other operating costs and expenses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation and amortization | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (31,444)
Corporate expenses | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (5,391)
Project development costs | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (55)
Preopening costs | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (2,462)
Loss on disposal of assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (18)
Gain on sale of Stockman’s | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 2,000
Stock-based compensation | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (2,155)
Operating income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 4,158
Other expense: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest expense, net | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (32,320)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (32,320)
Loss before income taxes | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (28,162)
Income tax provision | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 211
Net loss | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | (28,373)
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(In thousands) | ​ | Nine Months Ended September 30, 2023
​ | ​ | ​ | ​ | ​ | ​ | Contracted | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Sports | ​ | ​
​ | ​ | Midwest & South | ​ | West | ​ | Wagering | ​ | Total
Revenues | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Casino | ​ | $ | 107,474 | ​ | $ | 24,112 | ​ | $ | — | ​ | $ | 131,586
Food and beverage | ​ |  | 23,032 | ​ |  | 2,387 | ​ |  | — | ​ |  | 25,419
Hotel | ​ |  | 6,638 | ​ |  | 414 | ​ |  | — | ​ |  | 7,052
Other operations, including contracted sports wagering | ​ |  | 6,123 | ​ |  | 384 | ​ |  | 10,467 | ​ |  | 16,974
​ | ​ | $ | 143,267 | ​ | $ | 27,297 | ​ | $ | 10,467 | ​ | $ | 181,031
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Adjusted Segment EBITDA | ​ | $ | 31,830 | ​ | $ | 2,538 | ​ | $ | 10,373 | ​ | $ | 44,741
Other operating costs and expenses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation and amortization | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (22,482)
Corporate expenses | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (3,479)
Project development costs | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (45)
Preopening costs | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (12,634)
Loss on disposal of assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (7)
Stock-based compensation | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (2,129)
Operating income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 3,965
Other (expense) income: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest expense, net | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (16,319)
Gain on settlements | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 384
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (15,935)
Loss before income taxes | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (11,970)
Income tax provision | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 452
Net loss | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | (12,422)
​
Schedule of Total Assets By Segment | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(In thousands) | ​ | September 30, | ​ | December 31,
​ |  | 2024 |  | 2023
Total Assets | ​ | ​ | ​ | ​ | ​ | ​
Midwest & South | ​ | $ | 294,674 | ​ | $ | 298,072
West | ​ |  | 364,446 | ​ |  | 372,875
Contracted Sports Wagering | ​ | ​ | 185 | ​ | ​ | 977
Corporate and Other | ​ |  | 9,413 | ​ |  | 16,533
​ | ​ | $ | 668,718 | ​ | $ | 688,457
​

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