| Schedule of total revenues by segment |
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
|
Three Months Ended March 31, 2026 |
|
|
|
|
|
|
Contracted |
|
|
|
|
|
|
|
|
Sports |
|
|
|
|
Midwest & South |
|
West |
|
Wagering |
|
Total |
Revenues |
|
|
|
|
|
|
|
|
|
|
|
|
Casino |
|
$ |
46,304 |
|
$ |
9,403 |
|
$ |
— |
|
$ |
55,707 |
Food and beverage |
|
|
8,064 |
|
|
1,537 |
|
|
— |
|
|
9,601 |
Hotel |
|
|
1,611 |
|
|
2,175 |
|
|
— |
|
|
3,786 |
Other operations,
including contracted sports wagering |
|
|
3,374 |
|
|
462 |
|
|
1,491 |
|
|
5,327 |
Total consolidated revenues |
|
|
59,353 |
|
|
13,577 |
|
|
1,491 |
|
|
74,421 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: |
|
|
|
|
|
|
|
|
|
|
|
|
Payroll and related costs |
|
|
14,422 |
|
|
5,360 |
|
|
— |
|
|
19,782 |
Cost of sales |
|
|
4,277 |
|
|
769 |
|
|
— |
|
|
5,046 |
Gaming taxes and other(1) |
|
|
10,461 |
|
|
2,135 |
|
|
16 |
|
|
12,612 |
Other segment items(2) |
|
|
15,366 |
|
|
7,081 |
|
|
39 |
|
|
22,486 |
Total segment expenses |
|
|
44,526 |
|
|
15,345 |
|
|
55 |
|
|
59,926 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted Segment EBITDA |
|
|
14,827 |
|
|
(1,768) |
|
|
1,436 |
|
|
14,495 |
Other operating costs and expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization |
|
|
|
|
|
|
|
|
|
|
|
(10,560) |
Corporate expenses |
|
|
|
|
|
|
|
|
|
|
|
(1,325) |
Project development costs |
|
|
|
|
|
|
|
|
|
|
|
(55) |
Stock-based compensation, net |
|
|
|
|
|
|
|
|
|
|
|
(205) |
Operating income |
|
|
|
|
|
|
|
|
|
|
|
2,350 |
Other expense: |
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense, net |
|
|
|
|
|
|
|
|
|
|
|
(10,380) |
Loss before income taxes |
|
|
|
|
|
|
|
|
|
|
|
(8,030) |
Income tax provision |
|
|
|
|
|
|
|
|
|
|
|
120 |
Net loss |
|
|
|
|
|
|
|
|
|
|
$ |
(8,150) |
__________
| (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 ─ Certain overhead expenses.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
|
Three Months Ended March 31, 2025 |
|
|
|
|
|
|
Contracted |
|
|
|
|
|
|
|
|
Sports |
|
|
|
|
Midwest & South |
|
West |
|
Wagering |
|
Total |
Revenues |
|
|
|
|
|
|
|
|
|
|
|
|
Casino |
|
$ |
44,044 |
|
$ |
11,256 |
|
$ |
— |
|
$ |
55,300 |
Food and beverage |
|
|
8,171 |
|
|
1,890 |
|
|
— |
|
|
10,061 |
Hotel |
|
|
1,700 |
|
|
2,142 |
|
|
— |
|
|
3,842 |
Other operations,
including contracted sports wagering |
|
|
3,257 |
|
|
318 |
|
|
2,280 |
|
|
5,855 |
Total consolidated revenues |
|
|
57,172 |
|
|
15,606 |
|
|
2,280 |
|
|
75,058 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Less: |
|
|
|
|
|
|
|
|
|
|
|
|
Payroll and related costs |
|
|
15,280 |
|
|
6,997 |
|
|
— |
|
|
22,277 |
Cost of sales |
|
|
3,972 |
|
|
956 |
|
|
— |
|
|
4,928 |
Gaming taxes and other(1) |
|
|
9,982 |
|
|
1,764 |
|
|
13 |
|
|
11,759 |
Other segment items(2) |
|
|
14,831 |
|
|
8,356 |
|
|
87 |
|
|
23,274 |
Total segment expenses |
|
|
44,065 |
|
|
18,073 |
|
|
100 |
|
|
62,238 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted Segment EBITDA |
|
|
13,107 |
|
|
(2,467) |
|
|
2,180 |
|
|
12,820 |
Other operating costs and expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization |
|
|
|
|
|
|
|
|
|
|
|
(10,607) |
Corporate expenses |
|
|
|
|
|
|
|
|
|
|
|
(1,333) |
Project development costs |
|
|
|
|
|
|
|
|
|
|
|
(141) |
Loss on disposal of assets |
|
|
|
|
|
|
|
|
|
|
|
(6) |
Impairment of assets held for sale at Stockman’s |
|
|
|
|
|
|
|
|
|
|
|
(212) |
Stock-based compensation, net |
|
|
|
|
|
|
|
|
|
|
|
217 |
Operating income |
|
|
|
|
|
|
|
|
|
|
|
738 |
Other expense: |
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense, net |
|
|
|
|
|
|
|
|
|
|
|
(10,297) |
Loss before income taxes |
|
|
|
|
|
|
|
|
|
|
|
(9,559) |
Income tax provision |
|
|
|
|
|
|
|
|
|
|
|
206 |
Net loss |
|
|
|
|
|
|
|
|
|
|
$ |
(9,765) |
__________
| (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.
|
|