Annual report [Section 13 and 15(d), not S-K Item 405]

SEGMENT REPORTING (Tables)

v3.26.1
SEGMENT REPORTING (Tables)
12 Months Ended
Dec. 31, 2025
SEGMENT REPORTING  
Schedule of segment information

(In thousands)

December 31,

  ​ ​ ​

2025

  ​ ​ ​

2024

Total Assets

Midwest & South

$

285,831

$

293,466

West

 

339,720

 

360,057

Contracted Sports Wagering

168

68

Corporate and Other

 

24,090

 

19,743

$

649,809

$

673,334

(In thousands)

December 31,

  ​ ​ ​

2025

  ​ ​ ​

2024

Property and Equipment, net

Midwest & South

$

110,566

$

131,083

West

 

301,734

 

315,426

Contracted Sports Wagering

Corporate and Other

 

156

 

165

$

412,456

$

446,674

Schedule of total revenues by segment

(In thousands)

Year Ended December 31, 2025

Contracted

Sports

Midwest & South

West

Wagering

Total

Revenues

Casino

$

183,834

$

46,426

$

$

230,260

Food and beverage

 

32,647

 

6,655

 

 

39,302

Hotel

 

7,054

 

8,969

 

 

16,023

Other operations,
including contracted sports wagering

 

7,929

 

1,595

 

7,267

 

16,791

Total consolidated revenues

231,464

63,645

7,267

302,376

Less:

Payroll and related costs

61,489

24,415

85,904

Cost of sales

16,944

3,257

20,201

Gaming taxes and other(1)

42,326

6,095

47

48,468

Other segment items(2)

61,589

32,307

264

94,160

Total segment expenses

182,348

66,074

311

248,733

Adjusted Segment EBITDA

49,116

(2,429)

6,956

53,643

Other operating costs and expenses:

Depreciation and amortization

 

(42,609)

Corporate expenses

(5,512)

Project development costs

 

(310)

Loss on disposal of assets

(32)

Loss on sale of Stockman’s, net

(320)

Stock-based compensation, net

 

(1,736)

Operating income

 

3,124

Other expenses:

Interest expense, net

 

(42,741)

Other

(50)

(42,791)

Loss before income taxes

(39,667)

Income tax expense

 

530

Net loss

$

(40,197)

__________

(1) Excludes real estate and property taxes.
(2) For each reportable segment, the “Other segment items” category includes:
Midwest & South and West Advertising and marketing, rent expense, insurance, and other miscellaneous costs.
Contracted Sports Wagering ─ Credit loss expense net of recoveries, as well as certain overhead expenses.

(In thousands)

Year Ended December 31, 2024

Contracted

Sports

Midwest & South

West

Wagering

Total

Revenues

Casino

$

169,107

$

47,773

$

$

216,880

Food and beverage

 

34,410

 

7,461

 

 

41,871

Hotel

 

8,260

 

7,449

 

 

15,709

Other operations,
including contracted sports wagering

 

7,849

 

965

 

8,791

 

17,605

Total consolidated revenues

219,626

63,648

8,791

292,065

Less:

Payroll and related costs

57,822

25,010

82,832

Cost of sales

18,403

4,278

22,681

Gaming taxes and other(1)

37,810

6,090

57

43,957

Other segment items(2)

59,854

29,572

(769)

88,657

Total segment expenses

173,889

64,950

(712)

238,127

Adjusted Segment EBITDA

45,737

(1,302)

9,503

53,938

Other operating costs and expenses:

Depreciation and amortization

(42,101)

Corporate expenses

(5,290)

Project development costs

 

(368)

Preopening costs

(2,464)

Loss on disposal of assets

(18)

Gain on sale of Stockman’s

1,926

Stock-based compensation

 

(2,873)

Operating income

 

2,750

Other expense:

Interest expense, net

 

(43,201)

Loss before income taxes

(40,451)

Income tax expense

 

221

Net loss

$

(40,672)

__________

(1) Excludes real estate and property taxes.
(2) For each reportable segment, the “Other segment items” category includes:
Midwest & South and West Advertising and marketing, rent expense, insurance, and other miscellaneous costs.
Contracted Sports Wagering ─ Credit loss expense net of recoveries, as well as certain overhead expenses.