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Subsequent Events | 12 Months Ended
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Dec. 31, 2021
Subsequent Events [Abstract] |
Subsequent Events | 18. SUBSEQUENT EVENTS The Company evaluated subsequent events and accounting and disclosure requirements related to material subsequent events in its consolidated financial statements and related notes. On January 13, 2022, the Company announced that the Company’s subsidiary CRA entered into a definitive agreement to sell the land and building in Calgary, Alberta, Canada to Rowanwood Financial Properties Ltd. (the “Buyer”) for CAD 8.1 million ($6.5 million based on the exchange rate on January 12, 2022) subject to working capital adjustments. CRA operated Century Sports on a portion of the property and leased a portion of the property to a casino operator. The sale closed on February 10, 2022, at which point the Company received CAD 7.8 million ($6.2 million based on the exchange rate on February 10, 2022). Upon closing, CRA stopped operating Century Sports and transferred the lease agreement for the casino premises to the Buyer. On February 22, 2022, the Company entered into a definitive agreement with Marnell, pursuant to which a newly formed subsidiary of the Company will purchase from Marnell (i) 50% of the membership interests in PropCo, and (ii) 100% of the membership interests in OpCo. OpCo owns and operates the Nugget Casino Resort in Sparks, Nevada, and PropCo owns the real property on which the casino is located. At the First Closing, PropCo will enter into a lease with OpCo for an annual rent of $15.0 million. The Company will purchase 50% of the membership interests in PropCo for approximately $95.0 million (subject to certain adjustments) at the First Closing, which is expected to occur early in the second quarter of 2022. Subject to approval from the Nevada Gaming Commission, the Company’s purchase of 100% of the membership interests in OpCo for approximately $100.0 million (subject to certain adjustments) is expected to close within one year after the First Closing. Following the Second Closing, the Company will own the operating assets of Nugget Casino Resort and 50% of the membership interests in PropCo. The Company also will have a five-year option to acquire the remaining 50% of the membership interests in PropCo for $105 million plus 2% per annum.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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