| SEGMENT REPORTING |
9. SEGMENT REPORTING
The following tables reflect selected information for our reporting segments for the three and nine months ended September 30, 2014 and 2013. The casino operation segments include the Silver Slipper Casino’s operation in Bay St. Louis, Mississippi, Rising Star Casino Resort’s operation in Rising Sun, Indiana, the Grand Lodge Casino’s operation in Lake Tahoe, Nevada and Stockman’s Casino operation in Fallon, Nevada. References to (i) Midwest segment refers to Rising Star Casino Resort, (ii) Gulf Coast segment refers to Silver Slipper Casino and (iii) Northern Nevada segment refers to Grand Lodge Casino and Stockman’s Casino. The development/management segment includes costs associated with casino development and management projects, including the management agreement with the Pueblo of Pojoaque for their gaming operations including the Buffalo Thunder Casino and Resort in Santa Fe, New Mexico. The Corporate segment includes our general and administrative expenses.
Selected statement of operations data for the three months ended September 30 (in thousands):
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2014
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Casino Operations
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Northern
Nevada
|
|
|
Midwest
|
|
|
Gulf
Coast
|
|
|
Development/
Management
|
|
|
Corporate
|
|
|
Consolidated
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net revenues
|
|
$ |
7,134 |
|
|
$ |
13,399 |
|
|
$ |
12,111 |
|
|
$ |
273 |
|
|
$ |
-- |
|
|
$ |
32,917 |
|
|
Selling, general and administrative expense
|
|
|
1,377 |
|
|
|
3,950 |
|
|
|
4,265 |
|
|
|
-- |
|
|
|
995 |
|
|
|
10,587 |
|
|
Depreciation and amortization
|
|
|
209 |
|
|
|
766 |
|
|
|
1,419 |
|
|
|
-- |
|
|
|
4 |
|
|
|
2,398 |
|
|
Impairment loss
|
|
|
-- |
|
|
|
-- |
|
|
|
-- |
|
|
|
-- |
|
|
|
-- |
|
|
|
-- |
|
|
Operating income (loss)
|
|
|
2,254 |
|
|
|
884 |
|
|
|
317 |
|
|
|
201 |
|
|
|
(999 |
) |
|
|
2,657 |
|
|
Net income (loss)
|
|
|
1,474 |
|
|
|
320 |
|
|
|
200 |
|
|
|
42 |
|
|
|
(2,802 |
) |
|
|
(766 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2013
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Casino Operations
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Nevada
|
|
|
Midwest
|
|
|
Gulf
Coast
|
|
|
Development/
Management
|
|
|
Corporate
|
|
|
Consolidated
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
$ |
7,164 |
|
|
$ |
17,001 |
|
|
$ |
12,964 |
|
|
$ |
313 |
|
|
$ |
-- |
|
|
$ |
37,442 |
|
|
Selling, general and administrative expense
|
|
|
1,477 |
|
|
|
4,316 |
|
|
|
4,434 |
|
|
|
-- |
|
|
|
1,006 |
|
|
|
11,233 |
|
|
Depreciation and amortization
|
|
|
172 |
|
|
|
749 |
|
|
|
1,573 |
|
|
|
-- |
|
|
|
4 |
|
|
|
2,498 |
|
|
Impairment loss
|
|
|
(4,000 |
) |
|
|
-- |
|
|
|
-- |
|
|
|
-- |
|
|
|
-- |
|
|
|
(4,000 |
) |
|
Operating (loss) income
|
|
|
(1,834 |
) |
|
|
359 |
|
|
|
971 |
|
|
|
291 |
|
|
|
(1,011 |
) |
|
|
(1,224 |
) |
|
Net (loss) income
|
|
|
(1,211 |
) |
|
|
745 |
|
|
|
639 |
|
|
|
(451 |
) |
|
|
(1,873 |
) |
|
|
(2,151 |
) |
Selected statement of operations data for the nine months ended September 30 (in thousands):
| |
|
|
|
|
|
|
|
|
|
|
|
|
| 2014 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Casino Operations
|
|
|
|
|
|
|
|
|
|
|
| |
|
Northern
Nevada
|
|
|
Midwest
|
|
|
Gulf
Coast
|
|
|
Development/
Management
|
|
|
Corporate
|
|
|
Consolidated
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net revenues
|
|
$ |
16,543 |
|
|
$ |
40,189 |
|
|
$ |
36,879 |
|
|
$ |
1,066 |
|
|
$ |
-- |
|
|
$ |
94,677 |
|
|
Selling, general and administrative expense
|
|
|
4,182 |
|
|
|
11,646 |
|
|
|
12,467 |
|
|
|
-- |
|
|
|
3,341 |
|
|
|
31,636 |
|
|
Depreciation and amortization
|
|
|
639 |
|
|
|
2,306 |
|
|
|
4,207 |
|
|
|
-- |
|
|
|
13 |
|
|
|
7,165 |
|
|
Impairment loss
|
|
|
-- |
|
|
|
(11,547 |
) |
|
|
-- |
|
|
|
-- |
|
|
|
-- |
|
|
|
(11,547 |
) |
|
Operating income (loss)
|
|
|
3,207 |
|
|
|
(11,357 |
) |
|
|
1,789 |
|
|
|
659 |
|
|
|
(3,353 |
) |
|
|
(9,055 |
) |
|
Net income (loss)
|
|
|
2,103 |
|
|
|
(7,724 |
) |
|
|
1,165 |
|
|
|
447 |
|
|
|
(6,330 |
) |
|
|
(10,339 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2013
|
| |
|
|
|
|
|
|
|
|
|
|
|
| |
Casino Operations
|
|
|
|
|
|
|
|
|
|
|
| |
|
Northern
Nevada
|
|
|
Midwest
|
|
|
Gulf
Coast
|
|
|
Development/
Management
|
|
|
Corporate
|
|
|
Consolidated
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net revenues
|
|
$ |
17,692 |
|
|
$ |
54,413 |
|
|
$ |
40,044 |
|
|
$ |
1,123 |
|
|
$ |
-- |
|
|
$ |
113,272 |
|
|
Selling, general and administrative expense
|
|
|
4,474 |
|
|
|
13,090 |
|
|
|
13,729 |
|
|
|
-- |
|
|
|
4,280 |
|
|
|
35,573 |
|
|
Depreciation and amortization
|
|
|
529 |
|
|
|
2,222 |
|
|
|
4,146 |
|
|
|
-- |
|
|
|
9 |
|
|
|
6,906 |
|
|
Impairment loss
|
|
|
(4,000 |
) |
|
|
-- |
|
|
|
-- |
|
|
|
-- |
|
|
|
-- |
|
|
|
(4,000 |
) |
|
Operating income (loss)
|
|
|
74 |
|
|
|
3,358 |
|
|
|
3,708 |
|
|
|
1,062 |
|
|
|
(4,289 |
) |
|
|
3,913 |
|
|
Net income (loss)
|
|
|
49 |
|
|
|
2,382 |
|
|
|
2,429 |
|
|
|
46 |
|
|
|
(6,523 |
) |
|
|
(1,617 |
) |
Selected balance sheet data as of September 30, 2014 and December 31, 2013 (in thousands):
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2014
|
| |
|
|
|
|
|
|
|
|
|
|
|
| |
Casino Operations
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Northern
Nevada
|
|
|
Midwest
|
|
|
Gulf
Coast
|
|
|
Development/ Management
|
|
|
Corporate
|
|
|
Consolidated
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets
|
|
$ |
12,332 |
|
|
$ |
40,554 |
|
|
$ |
73,151 |
|
|
$ |
59 |
|
|
$ |
19,896 |
|
|
$ |
145,992 |
|
|
Property and equipment, net
|
|
|
6,805 |
|
|
|
34,671 |
|
|
|
51,077 |
|
|
|
-- |
|
|
|
38 |
|
|
|
92,591 |
|
|
Goodwill
|
|
|
1,809 |
|
|
|
-- |
|
|
|
14,671 |
|
|
|
-- |
|
|
|
-- |
|
|
|
16,480 |
|
|
Liabilities
|
|
|
1,876 |
|
|
|
11,928 |
|
|
|
3,073 |
|
|
|
-- |
|
|
|
61,421 |
|
|
|
78,298 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2013
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Casino Operations
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Northern
Nevada
|
|
|
Midwest
|
|
|
Gulf
Coast
|
|
|
Development/
Management
|
|
|
Corporate
|
|
|
Consolidated
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets
|
|
$ |
13,838 |
|
|
$ |
55,523 |
|
|
$ |
71,662 |
|
|
$ |
59 |
|
|
$ |
13,205 |
|
|
$ |
154,287 |
|
|
Property and equipment, net
|
|
|
7,352 |
|
|
|
36,427 |
|
|
|
47,338 |
|
|
|
-- |
|
|
|
51 |
|
|
|
91,168 |
|
|
Goodwill
|
|
|
1,809 |
|
|
|
1,647 |
|
|
|
14,671 |
|
|
|
-- |
|
|
|
-- |
|
|
|
18,127 |
|
|
Liabilities
|
|
|
2,056 |
|
|
|
12,718 |
|
|
|
3,559 |
|
|
|
-- |
|
|
|
58,140 |
|
|
|
76,473 |
|
|