Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

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CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues        
Casino [1] $ 28,632 $ 35,787 $ 55,602 $ 71,693
Food and beverage [1] 8,783 8,100 16,722 15,999
Hotel [1] 2,582 2,237 4,865 4,315
Other operations 1,230 1,243 1,969 2,017
Gross revenues 41,227 47,367 79,158 94,024
Less promotional allowances [1] 0 (7,246) 0 (14,283)
Net revenues 41,227 40,121 79,158 79,741
Operating costs and expenses        
Casino [1] 11,282 18,874 22,366 37,454
Food and beverage [1] 9,757 3,160 18,883 6,132
Hotel [1] 2,652 276 5,139 478
Other operations [1] 834 571 1,348 851
Selling, general and administrative [1] 12,462 13,728 24,424 26,812
Project development and acquisition costs 130 53 167 185
Depreciation and amortization 2,038 2,138 4,206 4,235
Loss (gain) on disposal of assets, net 69 (14) 79 (1)
Total operating costs and expenses 39,224 38,786 76,612 76,146
Operating income 2,003 1,335 2,546 3,595
Other (expense) income        
Interest expense, net of $171 and $216 capitalized for the three and six months ended June 30, 2018 (2,466) (2,705) (5,006) (5,384)
Loss on extinguishment of debt 0 0 (2,673) 0
Adjustment to fair value of warrants (80) 30 423 30
Total other (expense) income (2,546) (2,675) (7,256) (5,354)
Loss before income taxes (543) (1,340) (4,710) (1,759)
Provision for income taxes 118 184 237 368
Net loss $ (661) $ (1,524) $ (4,947) $ (2,127)
Basic loss per share (in dollars per share) $ (0.02) $ (0.07) $ (0.20) $ (0.09)
Diluted loss per share (in dollars per share) $ (0.02) $ (0.07) $ (0.21) $ (0.09)
[1] On January 1, 2018, the Company adopted Accounting Standards Codification No. 606, Revenue from Contracts with Customers (“ASC 606”), using the modified retrospective method, which impacts the comparability of these line items.