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

DISPOSITION

v3.26.1
DISPOSITION
12 Months Ended
Dec. 31, 2025
DISPOSITION  
DISPOSITION

3. DISPOSITION

On August 28, 2024, the Company entered into an agreement with a third party to sell Stockman’s for total gross proceeds of $9.2 million. The sale was completed in two phases: the sale of Stockman’s real property for $7.0 million, which closed on September 27, 2024 at a $1.9 million gain; and the sale of certain remaining operating assets and related liabilities for $2.2 million, which closed on April 1, 2025 at a $0.3 million loss. Accordingly, as of April 1, 2025, the Company no longer owns or operates Stockman’s Casino. The disposition of Stockman’s is not expected to have a major effect on the Company’s operations or financial results.

The carrying amounts of Stockman’s assets and liabilities held for sale, as of the most recent balance sheet date preceding the sale on April 1, 2025, were:

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(In thousands)

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March 31, 

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2025

ASSETS

 

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Current assets

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Cash

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$

250

Inventories

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28

Total current assets held for sale

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278

Property and equipment, net

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378

Goodwill

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1,809

Other intangible assets, net

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4

Valuation Allowance ─ Transaction Costs

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(212)

Total assets held for sale, net

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$

2,257

LIABILITIES

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Current liabilities

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Other accrued liabilities

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$

75

Total liabilities related to assets held for sale

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$

75

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