| Schedule of Total Revenues By Segment |
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
|
Year Ended December 31, 2023 |
|
|
|
|
|
|
Contracted |
|
|
|
|
|
|
|
|
Sports |
|
|
|
|
Midwest & South |
|
West |
|
Wagering |
|
Total |
Revenues |
|
|
|
|
|
|
|
|
|
|
|
|
Casino |
|
$ |
145,391 |
|
$ |
31,542 |
|
$ |
— |
|
$ |
176,933 |
Food and beverage |
|
|
30,762 |
|
|
3,218 |
|
|
— |
|
|
33,980 |
Hotel |
|
|
8,792 |
|
|
636 |
|
|
— |
|
|
9,428 |
Other operations,
including contracted sports wagering |
|
|
7,413 |
|
|
492 |
|
|
12,814 |
|
|
20,719 |
|
|
$ |
192,358 |
|
$ |
35,888 |
|
$ |
12,814 |
|
$ |
241,060 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted Segment EBITDA |
|
$ |
39,028 |
|
$ |
2,408 |
|
$ |
11,663 |
|
$ |
53,099 |
Other operating costs and expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization |
|
|
|
|
|
|
|
|
|
|
|
(31,092) |
Corporate expenses |
|
|
|
|
|
|
|
|
|
|
|
(4,542) |
Project development costs |
|
|
|
|
|
|
|
|
|
|
|
(53) |
Preopening costs |
|
|
|
|
|
|
|
|
|
|
|
(15,685) |
Loss on disposal of assets |
|
|
|
|
|
|
|
|
|
|
|
(7) |
Stock-based compensation |
|
|
|
|
|
|
|
|
|
|
|
(2,882) |
Operating loss |
|
|
|
|
|
|
|
|
|
|
|
(1,162) |
Other (expense) income: |
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense, net |
|
|
|
|
|
|
|
|
|
|
|
(22,977) |
Gain on settlements |
|
|
|
|
|
|
|
|
|
|
|
384 |
|
|
|
|
|
|
|
|
|
|
|
|
(22,593) |
Loss before income taxes |
|
|
|
|
|
|
|
|
|
|
|
(23,755) |
Income tax expense |
|
|
|
|
|
|
|
|
|
|
|
1,149 |
Net loss |
|
|
|
|
|
|
|
|
|
|
$ |
(24,904) |
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
|
Year Ended December 31, 2022 |
|
|
|
|
|
|
Contracted |
|
|
|
|
|
|
|
|
Sports |
|
|
|
|
Midwest & South |
|
West |
|
Wagering |
|
Total |
Revenues |
|
|
|
|
|
|
|
|
|
|
|
|
Casino |
|
$ |
81,681 |
|
$ |
32,195 |
|
$ |
— |
|
$ |
113,876 |
Food and beverage |
|
|
23,717 |
|
|
2,777 |
|
|
— |
|
|
26,494 |
Hotel |
|
|
8,650 |
|
|
632 |
|
|
— |
|
|
9,282 |
Other operations,
including contracted sports wagering |
|
|
5,902 |
|
|
531 |
|
|
7,196 |
|
|
13,629 |
|
|
$ |
119,950 |
|
$ |
36,135 |
|
$ |
7,196 |
|
$ |
163,281 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted Segment EBITDA |
|
$ |
26,376 |
|
$ |
4,220 |
|
$ |
7,127 |
|
$ |
37,723 |
Other operating costs and expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization |
|
|
|
|
|
|
|
|
|
|
|
(7,930) |
Corporate expenses |
|
|
|
|
|
|
|
|
|
|
|
(5,589) |
Project development costs |
|
|
|
|
|
|
|
|
|
|
|
(228) |
Preopening costs |
|
|
|
|
|
|
|
|
|
|
|
(9,558) |
Loss on disposal of assets |
|
|
|
|
|
|
|
|
|
|
|
(42) |
Stock-based compensation |
|
|
|
|
|
|
|
|
|
|
|
(1,693) |
Operating income |
|
|
|
|
|
|
|
|
|
|
|
12,683 |
Other expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense, net |
|
|
|
|
|
|
|
|
|
|
|
(22,988) |
Loss on modification of debt |
|
|
|
|
|
|
|
|
|
|
|
(4,530) |
|
|
|
|
|
|
|
|
|
|
|
|
(27,518) |
Loss before income taxes |
|
|
|
|
|
|
|
|
|
|
|
(14,835) |
Income tax benefit |
|
|
|
|
|
|
|
|
|
|
|
(31) |
Net loss |
|
|
|
|
|
|
|
|
|
|
$ |
(14,804) |
|