Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING (Tables)

v3.5.0.2
SEGMENT REPORTING (Tables)
6 Months Ended
Jun. 30, 2016
Segment Reporting [Abstract]  
Schedule of selected statement of operations data
The following tables reflect selected operating information for our reporting segments for the three and six months ended June 30, 2016 and 2015 and include a reconciliation of Adjusted Property EBITDA to operating income (loss) and net income (loss):
For the three months ended June 30, 2016
(In thousands, unaudited)
 
Casino/Resort Operations
 
 
 
 
 
Silver Slipper
Casino & Hotel
 
Rising Star
Casino Resort
 
Bronco Billy's Casino & Hotel
 
Northern Nevada
 
Corporate
 
Consolidated
Revenues, net
$
14,494

 
$
12,053

 
$
3,584

 
$
4,716

 
$

 
$
34,847

 
 
 
 
 
 
 
 
 
 
 
 
Adjusted Property EBITDA
$
2,369

 
$
432

 
$
1,088

 
$
624

 
$

 
$
4,513

 
 
 
 
 
 
 
 
 
 
 
 
Other operating costs and expenses:
 
 
 
 
 
 
 
 
 
 
 
Depreciation and amortization
835

 
664

 
219

 
178

 
3

 
1,899

Corporate expenses

 

 

 

 
1,113

 
1,113

Project development and acquisition costs

 

 

 

 
485

 
485

Stock compensation

 

 

 

 
164

 
164

Operating income (loss)
1,534


(232
)

869


446

 
(1,765
)
 
852

Non-operating expense:
 
 
 
 
 
 
 
 
 
 


Interest expense
4

 
52

 

 

 
2,174

 
2,230

Debt modification costs

 

 

 

 
601

 
601

Adjustment to fair value of warrants

 

 

 

 
241

 
241

Non-operating expense
4


52





 
3,016


3,072

Income (loss) before income taxes
1,530


(284
)

869


446

 
(4,781
)

(2,220
)
Provision for income taxes
143

 

 
31

 

 
6

 
180

Net income (loss)
$
1,387


$
(284
)

$
838


$
446

 
$
(4,787
)
 
$
(2,400
)
For the three months ended June 30, 2015
(In thousands, unaudited)
 
Casino/Resort Operations
 
 
 
 
 
Silver Slipper
Casino & Hotel
 
Rising Star
Casino Resort
 
Bronco Billy's Hotel & Casino
 
Northern Nevada
 
Corporate
 
Consolidated
Revenues, net
$
14,350

 
$
11,766

 
$

 
$
4,610

 
$

 
$
30,726

 
 
 
 
 
 
 
 
 
 
 
 
Adjusted Property EBITDA
$
2,665

 
$
592

 
$

 
$
679

 
$

 
$
3,936

 
 
 
 
 
 
 
 
 
 
 
 
Other operating costs and expenses:
 
 
 
 
 
 
 
 
 
 
 
Depreciation and amortization
1,159

 
673

 

 
194

 
4

 
2,030

Other losses (recoveries)

 

 

 

 
(450
)
 
(450
)
Corporate expenses

 

 

 

 
995

 
995

Project development and acquisition costs

 

 

 

 
48

 
48

Pre-opening
75

 

 

 

 

 
75

Stock compensation

 

 

 

 
191

 
191

Operating income (loss)
1,431

 
(81
)
 

 
485

 
(788
)
 
1,047

Non-operating expense:
 
 
 
 
 
 
 
 
 
 


Interest expense, net of amounts capitalized
4

 
42

 

 

 
1,477

 
1,523

Non-operating expense
4

 
42

 

 

 
1,477

 
1,523

Income (loss) before income taxes
1,427


(123
)


 
485

 
(2,265
)

(476
)
Provision (benefit) for income taxes
(49
)
 

 

 

 

 
(49
)
Net income (loss)
$
1,476


$
(123
)

$

 
$
485

 
$
(2,265
)

$
(427
)





For the six months ended June 30, 2016
(In thousands, unaudited)
 
Casino/Resort Operations
 
 
 
 
 
Silver Slipper
Casino & Hotel
 
Rising Star
Casino Resort
 
Bronco Billy's Hotel & Casino
 
Northern Nevada
 
Corporate
 
Consolidated
Revenues, net
$
29,339

 
$
24,299

 
$
3,584

 
$
9,632

 
$

 
$
66,854

 
 
 
 
 
 
 
 
 
 
 
 
Adjusted Property EBITDA
$
5,030

 
$
1,733

 
$
1,088

 
$
1,390

 
$

 
$
9,241

 
 
 
 
 
 
 
 
 
 
 
 
Other operating costs and expenses:
 
 
 
 
 
 
 
 
 
 
 
Depreciation and amortization
1,664

 
1,333

 
219

 
368

 
7

 
3,591

Corporate expenses

 

 

 

 
2,275

 
2,275

Project development and acquisition costs

 

 

 

 
772

 
772

Stock compensation

 

 

 

 
220

 
220

Operating income (loss)
3,366

 
400

 
869

 
1,022

 
(3,274
)
 
2,383

Non-operating expense:
 
 
 
 
 
 
 
 
 
 
 
Interest expense
9

 
106

 

 

 
3,877

 
3,992

Debt modification costs

 

 

 

 
601

 
601

Adjustment to fair value of warrants

 

 

 

 
241

 
241

Non-operating expense
9

 
106

 

 

 
4,719

 
4,834

Income (loss) before income taxes
3,357

 
294

 
869

 
1,022

 
(7,993
)
 
(2,451
)
Provision for income taxes
241

 
1

 
31

 
1

 
6

 
280

Net income (loss)
$
3,116

 
$
293

 
$
838

 
$
1,021

 
$
(7,999
)
 
$
(2,731
)
For the six months ended June 30, 2015
(In thousands, unaudited)
 
Casino/Resort Operations
 
 
 
 
 
Silver Slipper
Casino & Hotel
 
Rising Star
Casino Resort
 
Bronco Billy's Hotel & Casino
 
Northern Nevada
 
Corporate
 
Consolidated
Revenues, net
$
28,074

 
$
22,881

 
$

 
$
8,855

 
$

 
$
59,810

 
 
 
 
 
 
 
 
 
 
 
 
Adjusted Property EBITDA
$
5,362

 
$
797

 
$

 
$
1,042

 
$

 
$
7,201

 
 
 
 
 
 
 
 
 
 
 
 
Other operating costs and expenses:
 
 
 
 
 
 
 
 
 
 
 
Depreciation and amortization
2,260

 
1,361

 

 
394

 
7

 
4,022

Impairments

 

 

 
80

 
4

 
84

Other losses (recoveries)

 

 

 

 
(450
)
 
(450
)
Corporate expenses

 

 

 

 
2,121

 
2,121

Project development and acquisition costs

 

 

 

 
51

 
51

Pre-opening
113

 

 

 

 

 
113

Stock compensation

 

 

 

 
228

 
228

Operating income (loss)
2,989

 
(564
)
 

 
568

 
(1,961
)
 
1,032

Non-operating expense:
 
 
 
 
 
 
 
 
 
 
 
Interest expense, net of amounts capitalized
9

 
84

 

 
 
 
2,954

 
3,047

Other

 
(11
)
 

 

 
(1
)
 
(12
)
Non-operating expense
9

 
73

 

 

 
2,953

 
3,035

Income (loss) before income taxes
2,980

 
(637
)
 

 
568

 
(4,914
)
 
(2,003
)
Provision for income taxes
178

 
1

 

 

 

 
179

Net income (loss)
$
2,802

 
$
(638
)
 
$

 
$
568

 
$
(4,914
)
 
$
(2,182
)

Selected balance sheet data is as follows:
As of June 30, 2016
(In thousands, unaudited)
 
Casino/Resort Operations
 
 
 
 
 
Silver Slipper
Casino & Hotel
 
Rising Star
Casino Resort
 
Bronco Billy's Hotel & Casino
 
Northern Nevada
 
Corporate
 
Consolidated
Total assets
$
80,494

 
$
36,301

 
$
35,868

 
$
12,437

 
$
8,311

 
$
173,411

Property and equipment, net
59,727

 
30,119

 
16,128

 
5,799

 
116

 
111,889

Goodwill
14,671

 

 
4,649

 
1,809

 

 
21,129

Liabilities
3,382

 
9,962

 
3,155

 
2,218

 
100,682

 
119,399


As of December 31, 2015
(In thousands)
 
Casino/Resort Operations
 
 
 
 
 
Silver Slipper
Casino & Hotel
 
Rising Star
Casino Resort
 
Bronco Billy's Hotel & Casino
 
Northern Nevada
 
Corporate
 
Consolidated
Total assets
$
82,621

 
$
37,141

 
$

 
$
12,105

 
$
9,600

 
$
141,467

Property and equipment, net
61,150

 
31,391

 

 
6,098

 
343

 
98,982

Goodwill
14,671

 

 

 
1,809

 

 
16,480

Liabilities
3,389

 
10,034

 

 
1,834

 
69,687

 
84,944