Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING AND DISAGGREGATED REVENUE (Tables)

v3.21.2
SEGMENT REPORTING AND DISAGGREGATED REVENUE (Tables)
6 Months Ended
Jun. 30, 2021
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, 2021

Contracted

Sports

Mississippi

Indiana

Colorado

Nevada

Wagering

Total

Revenues

Casino

$

16,872

$

7,886

$

5,575

$

4,314

$

$

34,647

Food and beverage

 

5,561

 

939

 

624

 

316

 

 

7,440

Hotel

 

1,268

 

1,131

 

111

 

 

 

2,510

Other operations

 

538

 

621

 

72

 

85

 

1,529

 

2,845

$

24,239

$

10,577

$

6,382

$

4,715

$

1,529

$

47,442

Adjusted Segment EBITDA

$

8,983

$

2,666

$

1,839

$

1,412

$

1,500

$

16,400

Other operating costs and expenses:

Depreciation and amortization

 

(1,829)

Corporate expenses

 

(1,472)

Project development costs

 

(126)

Loss on disposal of assets, net

(568)

Stock-based compensation

(199)

Operating income

 

12,206

Other (expense) income:

Interest expense, net

 

(6,670)

Gain on extinguishment of debt

 

30

(6,640)

Income before income taxes

5,566

Income tax provision

 

82

Net income

$

5,484

(In thousands)

Three Months Ended June 30, 2020

Contracted

Sports

Mississippi

Indiana

Colorado

Nevada

Wagering

Total

Revenues

Casino

$

6,645

$

1,824

$

1,486

$

1,000

$

$

10,955

Food and beverage

 

1,757

 

91

 

88

 

58

 

 

1,994

Hotel

 

560

 

118

 

41

 

 

 

719

Other operations

 

160

 

174

 

18

 

28

 

463

 

843

$

9,122

$

2,207

$

1,633

$

1,086

$

463

$

14,511

Adjusted Segment EBITDA

$

1,200

$

(1,361)

$

(199)

$

(562)

$

447

$

(475)

Other operating costs and expenses:

Depreciation and amortization

 

(1,980)

Corporate expenses

(910)

Project development costs

 

(259)

Loss on disposal of assets, net

(439)

Stock-based compensation

 

(103)

Operating loss

 

(4,166)

Other expenses:

Interest expense, net

 

(2,447)

Adjustment to fair value of warrants

(94)

(2,541)

Loss before income taxes

(6,707)

Income tax benefit

 

(4)

Net loss

$

(6,703)

(In thousands)

Six Months Ended June 30, 2021

Contracted

Sports

Mississippi

Indiana

Colorado

Nevada

Wagering

Total

Revenues

Casino

$

32,912

$

14,601

$

10,839

$

8,359

$

$

66,711

Food and beverage

 

10,255

 

1,686

 

1,037

 

563

 

 

13,541

Hotel

 

2,439

 

2,050

 

232

 

 

 

4,721

Other operations

 

990

 

830

 

178

 

161

 

2,518

 

4,677

$

46,596

$

19,167

$

12,286

$

9,083

$

2,518

$

89,650

Adjusted Segment EBITDA

$

16,613

$

3,799

$

3,548

$

2,636

$

2,477

$

29,073

Other operating costs and expenses:

Depreciation and amortization

 

(3,629)

Corporate expenses

(3,376)

Project development costs

 

(173)

Loss on disposal of assets, net

(672)

Stock-based compensation

 

(323)

Operating income

 

20,900

Other expenses:

Interest expense, net

 

(11,126)

Loss on extinguishment of debt

 

(6,104)

Adjustment to fair value of warrants

(1,347)

(18,577)

Income before income taxes

2,323

Income tax expense

 

284

Net income

$

2,039

(In thousands)

Six Months Ended June 30, 2020

Contracted

Sports

Mississippi

Indiana

Colorado

Nevada

Wagering

Total

Revenues

Casino

$

15,715

$

6,852

$

5,491

$

3,648

$

$

31,706

Food and beverage

 

6,436

 

1,244

 

855

 

449

 

 

8,984

Hotel

 

1,530

 

976

 

187

 

 

 

2,693

Other operations

 

534

 

382

 

81

 

97

 

887

 

1,981

$

24,215

$

9,454

$

6,614

$

4,194

$

887

$

45,364

Adjusted Segment EBITDA

$

3,032

$

(2,851)

$

(669)

$

(953)

$

836

$

(605)

Other operating costs and expenses:

Depreciation and amortization

(4,020)

Corporate expenses

(2,029)

Project development costs

 

(315)

Loss on disposal of assets, net

(439)

Stock-based compensation

 

(186)

Operating loss

 

(7,594)

Other (expense) income:

Interest expense, net

 

(4,938)

Adjustment to fair value of warrants

1,562

(3,376)

Loss before income taxes

(10,970)

Income tax expense

 

91

Net loss

$

(11,061)

Schedule of Total Assets By Segment

(In thousands)

June 30, 

December 31, 

    

2021

    

2020

Total Assets

Mississippi

$

87,210

$

83,809

Indiana

 

36,584

 

37,798

Colorado

 

233,063

 

44,961

Nevada

 

13,747

 

13,248

Contracted Sports Wagering

1,859

1,329

Corporate and Other

 

95,691

 

31,471

$

468,154

$

212,616