| Schedule of Total Revenues By Segment |
As a result of the change in reportable segments described above, we have recast previously-reported segment information to conform to the current presentation in the following tables:
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
|
Three Months Ended March 31, 2023 |
|
|
|
|
|
|
Contracted |
|
|
|
|
|
|
|
|
Sports |
|
|
|
|
Midwest & South |
|
West |
|
Wagering |
|
Total |
Revenues |
|
|
|
|
|
|
|
|
|
|
|
|
Casino |
|
$ |
28,852 |
|
$ |
7,135 |
|
$ |
— |
|
$ |
35,987 |
Food and beverage |
|
|
6,897 |
|
|
763 |
|
|
— |
|
|
7,660 |
Hotel |
|
|
2,040 |
|
|
104 |
|
|
— |
|
|
2,144 |
Other operations, including
contracted sports wagering |
|
|
3,013 |
|
|
122 |
|
|
1,180 |
|
|
4,315 |
|
|
$ |
40,802 |
|
$ |
8,124 |
|
$ |
1,180 |
|
$ |
50,106 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted Segment EBITDA |
|
$ |
10,687 |
|
$ |
56 |
|
$ |
1,161 |
|
$ |
11,904 |
Other operating costs and expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization |
|
|
|
|
|
|
|
|
|
|
|
(5,859) |
Corporate expenses |
|
|
|
|
|
|
|
|
|
|
|
(1,779) |
Project development costs |
|
|
|
|
|
|
|
|
|
|
|
(7) |
Preopening costs |
|
|
|
|
|
|
|
|
|
|
|
(10,497) |
Stock-based compensation |
|
|
|
|
|
|
|
|
|
|
|
(748) |
Operating loss |
|
|
|
|
|
|
|
|
|
|
|
(6,986) |
Other (expense) income: |
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense, net |
|
|
|
|
|
|
|
|
|
|
|
(4,819) |
Gain on insurance settlement |
|
|
|
|
|
|
|
|
|
|
|
355 |
|
|
|
|
|
|
|
|
|
|
|
|
(4,464) |
Loss before income taxes |
|
|
|
|
|
|
|
|
|
|
|
(11,450) |
Income tax benefit |
|
|
|
|
|
|
|
|
|
|
|
(35) |
Net loss |
|
|
|
|
|
|
|
|
|
|
$ |
(11,415) |
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
|
Three Months Ended March 31, 2022 |
|
|
|
|
|
|
Contracted |
|
|
|
|
|
|
|
|
Sports |
|
|
|
|
Midwest & South |
|
West |
|
Wagering |
|
Total |
Revenues |
|
|
|
|
|
|
|
|
|
|
|
|
Casino |
|
$ |
21,399 |
|
$ |
7,685 |
|
$ |
— |
|
$ |
29,084 |
Food and beverage |
|
|
5,812 |
|
|
699 |
|
|
— |
|
|
6,511 |
Hotel |
|
|
2,044 |
|
|
135 |
|
|
— |
|
|
2,179 |
Other operations,
including contracted sports wagering |
|
|
694 |
|
|
125 |
|
|
2,830 |
|
|
3,649 |
|
|
$ |
29,949 |
|
$ |
8,644 |
|
$ |
2,830 |
|
$ |
41,423 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted Segment EBITDA |
|
$ |
7,088 |
|
$ |
509 |
|
$ |
2,767 |
|
$ |
10,364 |
Other operating costs and expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization |
|
|
|
|
|
|
|
|
|
|
|
(1,792) |
Corporate expenses |
|
|
|
|
|
|
|
|
|
|
|
(1,967) |
Project development costs |
|
|
|
|
|
|
|
|
|
|
|
(165) |
Preopening costs |
|
|
|
|
|
|
|
|
|
|
|
(786) |
Loss on disposal of assets |
|
|
|
|
|
|
|
|
|
|
|
(8) |
Stock-based compensation |
|
|
|
|
|
|
|
|
|
|
|
(343) |
Operating income |
|
|
|
|
|
|
|
|
|
|
|
5,303 |
Other expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense, net |
|
|
|
|
|
|
|
|
|
|
|
(6,399) |
Loss on modification of debt |
|
|
|
|
|
|
|
|
|
|
|
(4,406) |
Loss before income taxes |
|
|
|
|
|
|
|
|
|
|
|
(5,502) |
Income tax benefit |
|
|
|
|
|
|
|
|
|
|
|
(5,612) |
Net income |
|
|
|
|
|
|
|
|
|
|
$ |
110 |
|
| Schedule of Total Assets By Segment |
|
|
|
|
|
|
|
(In thousands) |
|
March 31, |
|
December 31, |
|
|
2023 |
|
2022 |
Total Assets |
|
|
|
|
|
|
Midwest & South |
|
$ |
300,213 |
|
$ |
194,033 |
West |
|
|
347,917 |
|
|
351,069 |
Contracted Sports Wagering |
|
|
1,408 |
|
|
1,658 |
Corporate and Other |
|
|
24,959 |
|
|
48,569 |
|
|
$ |
674,497 |
|
$ |
595,329 |
|