| Schedule of Total Revenues By Segment |
The following tables present the Company’s segment information:
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
|
Three Months Ended March 31, 2024 |
|
|
|
|
|
|
Contracted |
|
|
|
|
|
|
|
|
Sports |
|
|
|
|
Midwest & South |
|
West |
|
Wagering |
|
Total |
Revenues |
|
|
|
|
|
|
|
|
|
|
|
|
Casino |
|
$ |
40,909 |
|
$ |
10,764 |
|
$ |
— |
|
$ |
51,673 |
Food and beverage |
|
|
8,510 |
|
|
1,259 |
|
|
— |
|
|
9,769 |
Hotel |
|
|
2,008 |
|
|
844 |
|
|
— |
|
|
2,852 |
Other operations,
including contracted sports wagering |
|
|
3,205 |
|
|
165 |
|
|
2,260 |
|
|
5,630 |
|
|
$ |
54,632 |
|
$ |
13,032 |
|
$ |
2,260 |
|
$ |
69,924 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted Segment EBITDA |
|
$ |
12,682 |
|
$ |
(133) |
|
$ |
1,935 |
|
$ |
14,484 |
Other operating costs and expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization |
|
|
|
|
|
|
|
|
|
|
|
(10,625) |
Corporate expenses |
|
|
|
|
|
|
|
|
|
|
|
(2,075) |
Preopening costs |
|
|
|
|
|
|
|
|
|
|
|
(1,663) |
Loss on disposal of assets |
|
|
|
|
|
|
|
|
|
|
|
(18) |
Stock-based compensation |
|
|
|
|
|
|
|
|
|
|
|
(709) |
Operating loss |
|
|
|
|
|
|
|
|
|
|
|
(606) |
Other expense: |
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense, net |
|
|
|
|
|
|
|
|
|
|
|
(10,250) |
|
|
|
|
|
|
|
|
|
|
|
|
(10,250) |
Loss before income taxes |
|
|
|
|
|
|
|
|
|
|
|
(10,856) |
Income tax expense |
|
|
|
|
|
|
|
|
|
|
|
416 |
Net loss |
|
|
|
|
|
|
|
|
|
|
$ |
(11,272) |
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
|
Three Months Ended March 31, 2023 |
|
|
|
|
|
|
Contracted |
|
|
|
|
|
|
|
|
Sports |
|
|
|
|
Midwest & South |
|
West |
|
Wagering |
|
Total |
Revenues |
|
|
|
|
|
|
|
|
|
|
|
|
Casino |
|
$ |
28,852 |
|
$ |
7,135 |
|
$ |
— |
|
$ |
35,987 |
Food and beverage |
|
|
6,897 |
|
|
763 |
|
|
— |
|
|
7,660 |
Hotel |
|
|
2,040 |
|
|
104 |
|
|
— |
|
|
2,144 |
Other operations,
including contracted sports wagering |
|
|
3,013 |
|
|
122 |
|
|
1,180 |
|
|
4,315 |
|
|
$ |
40,802 |
|
$ |
8,124 |
|
$ |
1,180 |
|
$ |
50,106 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted Segment EBITDA |
|
$ |
10,687 |
|
$ |
56 |
|
$ |
1,161 |
|
$ |
11,904 |
Other operating costs and expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization |
|
|
|
|
|
|
|
|
|
|
|
(5,859) |
Corporate expenses |
|
|
|
|
|
|
|
|
|
|
|
(1,779) |
Project development costs |
|
|
|
|
|
|
|
|
|
|
|
(7) |
Preopening costs |
|
|
|
|
|
|
|
|
|
|
|
(10,497) |
Stock-based compensation |
|
|
|
|
|
|
|
|
|
|
|
(748) |
Operating loss |
|
|
|
|
|
|
|
|
|
|
|
(6,986) |
Other (expense) income: |
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense, net |
|
|
|
|
|
|
|
|
|
|
|
(4,819) |
Gain on insurance settlement |
|
|
|
|
|
|
|
|
|
|
|
355 |
|
|
|
|
|
|
|
|
|
|
|
|
(4,464) |
Loss before income taxes |
|
|
|
|
|
|
|
|
|
|
|
(11,450) |
Income tax benefit |
|
|
|
|
|
|
|
|
|
|
|
(35) |
Net loss |
|
|
|
|
|
|
|
|
|
|
$ |
(11,415) |
|
| Schedule of Total Assets By Segment |
|
|
|
|
|
|
|
(In thousands) |
|
March 31, |
|
December 31, |
|
|
2024 |
|
2023 |
Total Assets |
|
|
|
|
|
|
Midwest & South |
|
$ |
300,099 |
|
$ |
298,072 |
West |
|
|
359,974 |
|
|
372,875 |
Contracted Sports Wagering |
|
|
1,222 |
|
|
977 |
Corporate and Other |
|
|
9,144 |
|
|
16,533 |
|
|
$ |
670,439 |
|
$ |
688,457 |
|