Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Revenues    
Gross revenues [1] $ 163,876 $ 190,273
Less promotional allowances [1] 0 (29,006)
Net revenues 163,876 161,267
Operating costs and expenses    
Selling, general and administrative [1] 48,694 53,485
Preopening costs 274 0
Project development and acquisition costs 843 284
Depreciation and amortization 8,397 8,602
Loss (gain) on disposal of assets, net 79 (1)
Total operating costs and expenses 156,450 154,210
Operating income 7,426 7,057
Other (expense) income    
Interest expense, net of amounts capitalized of $346 and $130 (10,306) (10,856)
Loss on extinguishment of debt (2,673) 0
Adjustment to fair value of warrants 1,671 (1,379)
Other (13) 0
Non-operating expense (11,321) (12,235)
Loss before income taxes (3,895) (5,178)
Income tax expense (benefit) 476 (150)
Net loss $ (4,371) $ (5,028)
Basic loss per share (in dollars per share) $ (0.17) $ (0.22)
Diluted loss per share (in dollars per share) $ (0.23) $ (0.22)
Basic weighted average number of common shares outstanding (in shares) 26,012,381 22,882,960
Diluted weighted average number of common shares outstanding (in shares) 26,460,902 22,882,960
Casino    
Revenues    
Gross revenues [1] $ 114,313 $ 144,495
Operating costs and expenses    
Costs and expenses [1] 45,752 76,305
Food and beverage    
Revenues    
Gross revenues [1] 35,058 32,471
Operating costs and expenses    
Costs and expenses [1] 38,619 12,528
Hotel    
Revenues    
Gross revenues [1] 9,864 8,863
Operating costs and expenses    
Costs and expenses [1] 10,358 1,084
Other operations    
Revenues    
Gross revenues 4,641 4,444
Operating costs and expenses    
Costs and expenses [1] $ 3,434 $ 1,923
[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.