BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
|
12 Months Ended |
Dec. 31, 2024 |
|---|
| BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
|
| Schedule of Accounts receivable |
|
|
|
|
|
|
|
(In thousands) |
|
December 31, |
|
|
2024 |
|
2023 |
Casino |
|
$ |
653 |
|
$ |
343 |
Trade Accounts |
|
|
2,898 |
|
|
3,479 |
Other Operations, excluding Contracted Sports Wagering |
|
|
144 |
|
|
185 |
Contracted Sports Wagering(1) |
|
|
1,017 |
|
|
1,932 |
Other |
|
|
527 |
|
|
582 |
|
|
|
5,239 |
|
|
6,521 |
Less: Provision for credit losses |
|
|
(138) |
|
|
(1,189) |
|
|
$ |
5,101 |
|
$ |
5,332 |
__________
| (1) |
Starting in July 2024, annual prepayments of contracted revenue are now required in all of the Company’s active sports wagering contracts.
|
|
| Credit losses recognized for accounts receivable |
|
|
|
|
|
|
|
(In thousands) |
|
|
|
|
|
|
|
|
2024 |
|
2023 |
Balance at January 1 |
|
$ |
1,189 |
|
$ |
249 |
Current period provision for credit losses |
|
|
212 |
|
|
940 |
Write-offs |
|
|
(1,263) |
|
|
— |
Balance at December 31 |
|
$ |
138 |
|
$ |
1,189 |
|
| Schedule of estimated useful lives |
Depreciation and amortization is provided over the following estimated useful lives:
|
|
|
|
|
Estimated |
Class of Assets |
|
Useful Lives |
Land improvements |
|
10 to 18 years |
Buildings and improvements |
|
3 to 44 years |
Furniture, fixtures and equipment |
|
2 to 10 years |
|
| Schedule of Deferred revenues |
|
|
|
|
|
|
|
|
|
(In thousands) |
|
|
|
December 31, |
|
|
Balance Sheet Location |
|
2024 |
|
2023 |
Deferred revenue, current |
|
Other accrued liabilities |
|
$ |
5,854 |
|
$ |
6,175 |
Deferred revenue, net of current portion |
|
Contract liabilities, net of current portion |
|
|
4,550 |
|
|
6,192 |
|
|
|
|
$ |
10,404 |
|
$ |
12,367 |
|
| Schedule of Contract With Customer Liability [Table Text Block] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding |
|
Players |
|
Contracted |
|
Progressive |
(In thousands) |
|
Chip Liability |
|
Club Points |
|
Sports Wagering(1) |
|
Jackpots and Other |
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
|
2024 |
|
2023 |
|
2024 |
|
2023 |
Balance at January 1 |
|
$ |
527 |
|
$ |
416 |
|
$ |
765 |
|
$ |
710 |
|
$ |
12,367 |
|
$ |
10,507 |
|
$ |
4,477 |
|
$ |
2,843 |
Balance at December 31 |
|
|
683 |
|
|
527 |
|
|
930 |
|
|
765 |
|
|
10,404 |
|
|
12,367 |
|
|
5,767 |
|
|
4,477 |
Increase / (Decrease) |
|
$ |
156 |
|
$ |
111 |
|
$ |
165 |
|
$ |
55 |
|
$ |
(1,963) |
|
$ |
1,860 |
|
$ |
1,290 |
|
$ |
1,634 |
__________
| (1) |
There were three active skins at December 31, 2024, compared to four active skins at December 31, 2023. |
|
| Schedule of Earnings Per Share, Basic and Diluted |
|
|
|
|
|
|
|
(In thousands) |
|
Year Ended |
|
|
December 31, |
|
|
2024 |
|
2023 |
Numerator: |
|
|
|
|
|
|
Net loss ─ basic |
|
$ |
(40,672) |
|
$ |
(24,904) |
Net loss ─ diluted |
|
$ |
(40,672) |
|
$ |
(24,904) |
|
|
|
|
|
|
|
Denominator: |
|
|
|
|
|
|
Weighted-average common shares ─ basic |
|
|
34,965 |
|
|
34,520 |
Potential dilution from share-based awards |
|
|
— |
|
|
— |
Weighted-average common and common share equivalents ─ diluted |
|
|
34,965 |
|
|
34,520 |
Anti-dilutive share-based awards excluded from the calculation of diluted loss per share |
|
|
3,876 |
|
|
4,015 |
|