Quarterly report [Sections 13 or 15(d)]

SEGMENT INFORMATION (Tables)

v3.26.1
SEGMENT INFORMATION (Tables)
6 Months Ended
Jun. 30, 2026
SEGMENT INFORMATION  
Schedule of total revenues by segment

​

​

​

​

​

​

​

​

​

​

​

​

​

​

(In thousands)

​

Three Months Ended June 30, 2026

​

​

​

​

​

​

Contracted

​

​

​

​

​

​

​

​

Sports

​

​

​

​

Midwest & South

​

West

​

Wagering

​

Total

Revenues

​

​

​

​

​

​

​

​

​

​

​

​

Casino

​

$

49,272

​

$

11,018

​

$

—

​

$

60,290

Food and beverage

​

 

8,416

​

 

1,640

​

 

—

​

 

10,056

Hotel

​

 

1,788

​

 

2,366

​

 

—

​

 

4,154

Other operations,
including contracted sports wagering

​

 

1,543

​

 

515

​

 

1,506

​

 

3,564

Total consolidated revenues

​

​

61,019

​

​

15,539

​

​

1,506

​

​

78,064

​

​

​

​

​

​

​

​

​

​

​

​

​

Less:

​

​

​

​

​

​

​

​

​

​

​

​

Payroll and related costs

​

​

16,311

​

​

5,703

​

​

—

​

​

22,014

Cost of sales

​

​

4,587

​

​

853

​

​

—

​

​

5,440

Gaming taxes and other(1)

​

​

11,335

​

​

1,797

​

​

13

​

​

13,145

Other segment items(2)

​

​

15,431

​

​

7,279

​

​

41

​

​

22,751

Total segment expenses

​

​

47,664

​

​

15,632

​

​

54

​

​

63,350

​

​

​

​

​

​

​

​

​

​

​

​

​

Adjusted Segment EBITDA

​

​

13,355

​

​

(93)

​

​

1,452

​

​

14,714

Other operating costs and expenses:

​

​

​

​

​

​

​

​

​

​

​

​

Depreciation and amortization

​

​

​

​

​

​

​

​

​

​

 

(10,431)

Corporate expenses

​

​

​

​

​

​

​

​

​

​

 

(1,407)

Project development costs

​

​

​

​

​

​

​

​

​

​

 

(4)

Stock-based compensation

​

​

​

​

​

​

​

​

​

​

​

(602)

Operating income

​

​

​

​

​

​

​

​

​

​

 

2,270

Other expense:

​

​

​

​

​

​

​

​

​

​

​

​

Interest expense, net

​

​

​

​

​

​

​

​

​

​

 

(10,843)

Loss before income taxes

​

​

​

​

​

​

​

​

​

​

​

(8,573)

Income tax provision

​

​

​

​

​

​

​

​

​

​

 

121

Net loss

​

​

​

​

​

​

​

​

​

​

$

(8,694)

__________

(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 June 30, 2025

​

​

​

​

​

​

Contracted

​

​

​

​

​

​

​

​

Sports

​

​

​

​

Midwest & South

​

West

​

Wagering

​

Total

Revenues

​

​

​

​

​

​

​

​

​

​

​

​

Casino

​

$

46,155

​

$

10,828

​

$

—

​

$

56,983

Food and beverage

​

 

8,143

​

 

1,437

​

 

—

​

 

9,580

Hotel

​

 

1,847

​

 

1,873

​

 

—

​

 

3,720

Other operations,
including contracted sports wagering

​

 

1,657

​

 

347

​

 

1,659

​

 

3,663

Total consolidated revenues

​

​

57,802

​

​

14,485

​

​

1,659

​

​

73,946

​

​

​

​

​

​

​

​

​

​

​

​

​

Less:

​

​

​

​

​

​

​

​

​

​

​

​

Payroll and related costs

​

​

15,434

​

​

6,122

​

​

—

​

​

21,556

Cost of sales

​

​

4,135

​

​

674

​

​

—

​

​

4,809

Gaming taxes and other(1)

​

​

10,535

​

​

1,502

​

​

13

​

​

12,050

Other segment items(2)

​

​

14,941

​

​

7,325

​

​

35

​

​

22,301

Total segment expenses

​

​

45,045

​

​

15,623

​

​

48

​

​

60,716

​

​

​

​

​

​

​

​

​

​

​

​

​

Adjusted Segment EBITDA

​

​

12,757

​

​

(1,138)

​

​

1,611

​

​

13,230

Other operating costs and expenses:

​

​

​

​

​

​

​

​

​

​

​

​

Depreciation and amortization

​

​

​

​

​

​

​

​

​

​

 

(10,588)

Corporate expenses

​

​

​

​

​

​

​

​

​

​

​

(2,096)

Project development costs

​

​

​

​

​

​

​

​

​

​

 

(33)

Gain on sale of Stockman’s

​

​

​

​

​

​

​

​

​

​

​

7

Stock-based compensation

​

​

​

​

​

​

​

​

​

​

 

(594)

Operating loss

​

​

​

​

​

​

​

​

​

​

 

(74)

Other expenses:

​

​

​

​

​

​

​

​

​

​

​

​

Interest expense, net

​

​

​

​

​

​

​

​

​

​

 

(10,354)

Other

​

​

​

​

​

​

​

​

​

​

​

(50)

​

​

​

​

​

​

​

​

​

​

​

​

(10,404)

Loss before income taxes

​

​

​

​

​

​

​

​

​

​

​

(10,478)

Income tax benefit

​

​

​

​

​

​

​

​

​

​

 

(95)

Net loss

​

​

​

​

​

​

​

​

​

​

$

(10,383)

__________

(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)

​

Six Months Ended June 30, 2026

​

​

​

​

​

​

Contracted

​

​

​

​

​

​

​

​

Sports

​

​

​

​

Midwest & South

​

West

​

Wagering

​

Total

Revenues

​

​

​

​

​

​

​

​

​

​

​

​

Casino

​

$

95,575

​

$

20,422

​

$

—

​

$

115,997

Food and beverage

​

 

16,480

​

 

3,177

​

 

—

​

 

19,657

Hotel

​

 

3,399

​

 

4,541

​

 

—

​

 

7,940

Other operations,
including contracted sports wagering

​

 

4,916

​

 

978

​

 

2,997

​

 

8,891

Total consolidated revenues

​

​

120,370

​

​

29,118

​

​

2,997

​

​

152,485

​

​

​

​

​

​

​

​

​

​

​

​

​

Less:

​

​

​

​

​

​

​

​

​

​

​

​

Payroll and related costs

​

​

30,734

​

​

11,063

​

​

—

​

​

41,797

Cost of sales

​

​

8,864

​

​

1,622

​

​

—

​

​

10,486

Gaming taxes and other(1)

​

​

21,796

​

​

3,932

​

​

28

​

​

25,756

Other segment items(2)

​

​

30,796

​

​

14,361

​

​

81

​

​

45,238

Total segment expenses

​

​

92,190

​

​

30,978

​

​

109

​

​

123,277

​

​

​

​

​

​

​

​

​

​

​

​

​

Adjusted Segment EBITDA

​

​

28,180

​

​

(1,860)

​

​

2,888

​

​

29,208

Other operating costs and expenses:

​

​

​

​

​

​

​

​

​

​

​

​

Depreciation and amortization

​

​

​

​

​

​

​

​

​

​

 

(20,991)

Corporate expenses

​

​

​

​

​

​

​

​

​

​

​

(2,731)

Project development costs

​

​

​

​

​

​

​

​

​

​

 

(59)

Stock-based compensation, net

​

​

​

​

​

​

​

​

​

​

 

(807)

Operating income

​

​

​

​

​

​

​

​

​

​

 

4,620

Other expense:

​

​

​

​

​

​

​

​

​

​

​

​

Interest expense, net

​

​

​

​

​

​

​

​

​

​

 

(21,223)

Loss before income taxes

​

​

​

​

​

​

​

​

​

​

​

(16,603)

Income tax provision

​

​

​

​

​

​

​

​

​

​

 

241

Net loss

​

​

​

​

​

​

​

​

​

​

$

(16,844)

__________

(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)

​

Six Months Ended June 30, 2025

​

​

​

​

​

​

Contracted

​

​

​

​

​

​

​

​

Sports

​

​

​

​

Midwest & South

​

West

​

Wagering

​

Total

Revenues

​

​

​

​

​

​

​

​

​

​

​

​

Casino

​

$

90,199

​

$

22,084

​

$

—

​

$

112,283

Food and beverage

​

 

16,314

​

 

3,327

​

 

—

​

 

19,641

Hotel

​

 

3,548

​

 

4,014

​

 

—

​

 

7,562

Other operations,
including contracted sports wagering

​

 

4,915

​

 

664

​

 

3,939

​

 

9,518

Total consolidated revenues

​

​

114,976

​

​

30,089

​

​

3,939

​

​

149,004

​

​

​

​

​

​

​

​

​

​

​

​

​

Less:

​

​

​

​

​

​

​

​

​

​

​

​

Payroll and related costs

​

​

30,714

​

​

13,119

​

​

—

​

​

43,833

Cost of sales

​

​

8,108

​

​

1,630

​

​

—

​

​

9,738

Gaming taxes and other(1)

​

​

20,517

​

​

3,267

​

​

25

​

​

23,809

Other segment items(2)

​

​

29,772

​

​

15,679

​

​

123

​

​

45,574

Total segment expenses

​

​

89,111

​

​

33,695

​

​

148

​

​

122,954

​

​

​

​

​

​

​

​

​

​

​

​

​

Adjusted Segment EBITDA

​

​

25,865

​

​

(3,606)

​

​

3,791

​

​

26,050

Other operating costs and expenses:

​

​

​

​

​

​

​

​

​

​

​

​

Depreciation and amortization

​

​

​

​

​

​

​

​

​

​

​

(21,195)

Corporate expenses

​

​

​

​

​

​

​

​

​

​

​

(3,429)

Project development costs

​

​

​

​

​

​

​

​

​

​

 

(174)

Loss on disposal of assets

​

​

​

​

​

​

​

​

​

​

​

(6)

Loss on sale of Stockman’s, net

​

​

​

​

​

​

​

​

​

​

​

(205)

Stock-based compensation, net

​

​

​

​

​

​

​

​

​

​

 

(377)

Operating income

​

​

​

​

​

​

​

​

​

​

 

664

Other expenses:

​

​

​

​

​

​

​

​

​

​

​

​

Interest expense, net

​

​

​

​

​

​

​

​

​

​

 

(20,651)

Other

​

​

​

​

​

​

​

​

​

​

​

(50)

​

​

​

​

​

​

​

​

​

​

​

​

(20,701)

Loss before income taxes

​

​

​

​

​

​

​

​

​

​

​

(20,037)

Income tax provision

​

​

​

​

​

​

​

​

​

​

 

111

Net loss

​

​

​

​

​

​

​

​

​

​

$

(20,148)

__________

(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.
Schedule of segment information

The following tables present the Company’s segment information:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

(In thousands)

​

Three Months Ended June 30, 2026

​

​

​

​

​

​

Contracted

​

​

​

​

​

​

​

​

Sports

​

​

​

​

Midwest & South

​

West

​

Wagering

​

Total

Revenues

​

​

​

​

​

​

​

​

​

​

​

​

Casino

​

$

49,272

​

$

11,018

​

$

—

​

$

60,290

Food and beverage

​

 

8,416

​

 

1,640

​

 

—

​

 

10,056

Hotel

​

 

1,788

​

 

2,366

​

 

—

​

 

4,154

Other operations,
including contracted sports wagering

​

 

1,543

​

 

515

​

 

1,506

​

 

3,564

Total consolidated revenues

​

​

61,019

​

​

15,539

​

​

1,506

​

​

78,064

​

​

​

​

​

​

​

​

​

​

​

​

​

Less:

​

​

​

​

​

​

​

​

​

​

​

​

Payroll and related costs

​

​

16,311

​

​

5,703

​

​

—

​

​

22,014

Cost of sales

​

​

4,587

​

​

853

​

​

—

​

​

5,440

Gaming taxes and other(1)

​

​

11,335

​

​

1,797

​

​

13

​

​

13,145

Other segment items(2)

​

​

15,431

​

​

7,279

​

​

41

​

​

22,751

Total segment expenses

​

​

47,664

​

​

15,632

​

​

54

​

​

63,350

​

​

​

​

​

​

​

​

​

​

​

​

​

Adjusted Segment EBITDA

​

​

13,355

​

​

(93)

​

​

1,452

​

​

14,714

Other operating costs and expenses:

​

​

​

​

​

​

​

​

​

​

​

​

Depreciation and amortization

​

​

​

​

​

​

​

​

​

​

 

(10,431)

Corporate expenses

​

​

​

​

​

​

​

​

​

​

 

(1,407)

Project development costs

​

​

​

​

​

​

​

​

​

​

 

(4)

Stock-based compensation

​

​

​

​

​

​

​

​

​

​

​

(602)

Operating income

​

​

​

​

​

​

​

​

​

​

 

2,270

Other expense:

​

​

​

​

​

​

​

​

​

​

​

​

Interest expense, net

​

​

​

​

​

​

​

​

​

​

 

(10,843)

Loss before income taxes

​

​

​

​

​

​

​

​

​

​

​

(8,573)

Income tax provision

​

​

​

​

​

​

​

​

​

​

 

121

Net loss

​

​

​

​

​

​

​

​

​

​

$

(8,694)

__________

(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 June 30, 2025

​

​

​

​

​

​

Contracted

​

​

​

​

​

​

​

​

Sports

​

​

​

​

Midwest & South

​

West

​

Wagering

​

Total

Revenues

​

​

​

​

​

​

​

​

​

​

​

​

Casino

​

$

46,155

​

$

10,828

​

$

—

​

$

56,983

Food and beverage

​

 

8,143

​

 

1,437

​

 

—

​

 

9,580

Hotel

​

 

1,847

​

 

1,873

​

 

—

​

 

3,720

Other operations,
including contracted sports wagering

​

 

1,657

​

 

347

​

 

1,659

​

 

3,663

Total consolidated revenues

​

​

57,802

​

​

14,485

​

​

1,659

​

​

73,946

​

​

​

​

​

​

​

​

​

​

​

​

​

Less:

​

​

​

​

​

​

​

​

​

​

​

​

Payroll and related costs

​

​

15,434

​

​

6,122

​

​

—

​

​

21,556

Cost of sales

​

​

4,135

​

​

674

​

​

—

​

​

4,809

Gaming taxes and other(1)

​

​

10,535

​

​

1,502

​

​

13

​

​

12,050

Other segment items(2)

​

​

14,941

​

​

7,325

​

​

35

​

​

22,301

Total segment expenses

​

​

45,045

​

​

15,623

​

​

48

​

​

60,716

​

​

​

​

​

​

​

​

​

​

​

​

​

Adjusted Segment EBITDA

​

​

12,757

​

​

(1,138)

​

​

1,611

​

​

13,230

Other operating costs and expenses:

​

​

​

​

​

​

​

​

​

​

​

​

Depreciation and amortization

​

​

​

​

​

​

​

​

​

​

 

(10,588)

Corporate expenses

​

​

​

​

​

​

​

​

​

​

​

(2,096)

Project development costs

​

​

​

​

​

​

​

​

​

​

 

(33)

Gain on sale of Stockman’s

​

​

​

​

​

​

​

​

​

​

​

7

Stock-based compensation

​

​

​

​

​

​

​

​

​

​

 

(594)

Operating loss

​

​

​

​

​

​

​

​

​

​

 

(74)

Other expenses:

​

​

​

​

​

​

​

​

​

​

​

​

Interest expense, net

​

​

​

​

​

​

​

​

​

​

 

(10,354)

Other

​

​

​

​

​

​

​

​

​

​

​

(50)

​

​

​

​

​

​

​

​

​

​

​

​

(10,404)

Loss before income taxes

​

​

​

​

​

​

​

​

​

​

​

(10,478)

Income tax benefit

​

​

​

​

​

​

​

​

​

​

 

(95)

Net loss

​

​

​

​

​

​

​

​

​

​

$

(10,383)

__________

(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)

​

Six Months Ended June 30, 2026

​

​

​

​

​

​

Contracted

​

​

​

​

​

​

​

​

Sports

​

​

​

​

Midwest & South

​

West

​

Wagering

​

Total

Revenues

​

​

​

​

​

​

​

​

​

​

​

​

Casino

​

$

95,575

​

$

20,422

​

$

—

​

$

115,997

Food and beverage

​

 

16,480

​

 

3,177

​

 

—

​

 

19,657

Hotel

​

 

3,399

​

 

4,541

​

 

—

​

 

7,940

Other operations,
including contracted sports wagering

​

 

4,916

​

 

978

​

 

2,997

​

 

8,891

Total consolidated revenues

​

​

120,370

​

​

29,118

​

​

2,997

​

​

152,485

​

​

​

​

​

​

​

​

​

​

​

​

​

Less:

​

​

​

​

​

​

​

​

​

​

​

​

Payroll and related costs

​

​

30,734

​

​

11,063

​

​

—

​

​

41,797

Cost of sales

​

​

8,864

​

​

1,622

​

​

—

​

​

10,486

Gaming taxes and other(1)

​

​

21,796

​

​

3,932

​

​

28

​

​

25,756

Other segment items(2)

​

​

30,796

​

​

14,361

​

​

81

​

​

45,238

Total segment expenses

​

​

92,190

​

​

30,978

​

​

109

​

​

123,277

​

​

​

​

​

​

​

​

​

​

​

​

​

Adjusted Segment EBITDA

​

​

28,180

​

​

(1,860)

​

​

2,888

​

​

29,208

Other operating costs and expenses:

​

​

​

​

​

​

​

​

​

​

​

​

Depreciation and amortization

​

​

​

​

​

​

​

​

​

​

 

(20,991)

Corporate expenses

​

​

​

​

​

​

​

​

​

​

​

(2,731)

Project development costs

​

​

​

​

​

​

​

​

​

​

 

(59)

Stock-based compensation, net

​

​

​

​

​

​

​

​

​

​

 

(807)

Operating income

​

​

​

​

​

​

​

​

​

​

 

4,620

Other expense:

​

​

​

​

​

​

​

​

​

​

​

​

Interest expense, net

​

​

​

​

​

​

​

​

​

​

 

(21,223)

Loss before income taxes

​

​

​

​

​

​

​

​

​

​

​

(16,603)

Income tax provision

​

​

​

​

​

​

​

​

​

​

 

241

Net loss

​

​

​

​

​

​

​

​

​

​

$

(16,844)

__________

(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)

​

Six Months Ended June 30, 2025

​

​

​

​

​

​

Contracted

​

​

​

​

​

​

​

​

Sports

​

​

​

​

Midwest & South

​

West

​

Wagering

​

Total

Revenues

​

​

​

​

​

​

​

​

​

​

​

​

Casino

​

$

90,199

​

$

22,084

​

$

—

​

$

112,283

Food and beverage

​

 

16,314

​

 

3,327

​

 

—

​

 

19,641

Hotel

​

 

3,548

​

 

4,014

​

 

—

​

 

7,562

Other operations,
including contracted sports wagering

​

 

4,915

​

 

664

​

 

3,939

​

 

9,518

Total consolidated revenues

​

​

114,976

​

​

30,089

​

​

3,939

​

​

149,004

​

​

​

​

​

​

​

​

​

​

​

​

​

Less:

​

​

​

​

​

​

​

​

​

​

​

​

Payroll and related costs

​

​

30,714

​

​

13,119

​

​

—

​

​

43,833

Cost of sales

​

​

8,108

​

​

1,630

​

​

—

​

​

9,738

Gaming taxes and other(1)

​

​

20,517

​

​

3,267

​

​

25

​

​

23,809

Other segment items(2)

​

​

29,772

​

​

15,679

​

​

123

​

​

45,574

Total segment expenses

​

​

89,111

​

​

33,695

​

​

148

​

​

122,954

​

​

​

​

​

​

​

​

​

​

​

​

​

Adjusted Segment EBITDA

​

​

25,865

​

​

(3,606)

​

​

3,791

​

​

26,050

Other operating costs and expenses:

​

​

​

​

​

​

​

​

​

​

​

​

Depreciation and amortization

​

​

​

​

​

​

​

​

​

​

​

(21,195)

Corporate expenses

​

​

​

​

​

​

​

​

​

​

​

(3,429)

Project development costs

​

​

​

​

​

​

​

​

​

​

 

(174)

Loss on disposal of assets

​

​

​

​

​

​

​

​

​

​

​

(6)

Loss on sale of Stockman’s, net

​

​

​

​

​

​

​

​

​

​

​

(205)

Stock-based compensation, net

​

​

​

​

​

​

​

​

​

​

 

(377)

Operating income

​

​

​

​

​

​

​

​

​

​

 

664

Other expenses:

​

​

​

​

​

​

​

​

​

​

​

​

Interest expense, net

​

​

​

​

​

​

​

​

​

​

 

(20,651)

Other

​

​

​

​

​

​

​

​

​

​

​

(50)

​

​

​

​

​

​

​

​

​

​

​

​

(20,701)

Loss before income taxes

​

​

​

​

​

​

​

​

​

​

​

(20,037)

Income tax provision

​

​

​

​

​

​

​

​

​

​

 

111

Net loss

​

​

​

​

​

​

​

​

​

​

$

(20,148)

__________

(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)

​

June 30, 

​

December 31, 

​

  ​ ​ ​

2026

  ​ ​ ​

2025

Total Assets

​

​

​

​

​

​

Midwest & South

​

$

276,659

​

$

285,831

West

​

 

332,011

​

 

339,720

Contracted Sports Wagering

​

​

59

​

​

168

Corporate and Other

​

 

21,375

​

 

24,090

​

​

$

630,104

​

$

649,809

​