Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING AND DISAGGREGATED REVENUE (Tables)

v3.19.2
SEGMENT REPORTING AND DISAGGREGATED REVENUE (Tables)
6 Months Ended
Jun. 30, 2019
Segment Reporting [Abstract]  
Schedule of Disaggregation of Revenue
The following tables present the Company’s segment information:

(In thousands, unaudited)
Three Months Ended June 30, 2019
 
Silver Slipper Casino and Hotel
 
Rising Star Casino Resort
 
Bronco Billy’s Casino and Hotel
 
Northern Nevada Casinos
 
Corporate
 
Total
Revenues
 
 
 
 
 
 
 
 
 
 
 
Casino
$
11,636

 
$
7,526

 
$
5,563

 
$
3,725

 
$

 
$
28,450

Food and beverage
5,515

 
1,800

 
1,051

 
497

 

 
8,863

Hotel
1,305

 
1,560

 
186

 

 

 
3,051

Other operations
436

 
712

 
77

 
74

 

 
1,299

 
$
18,892

 
$
11,598

 
$
6,877

 
$
4,296

 
$

 
$
41,663

 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
$
2,655

 
$
(41
)
 
$
397

 
$
245

 
$
(4,266
)
 
$
(1,010
)
Interest expense, net
5

 
52

 

 

 
2,874

 
2,931

Adjustment to fair value of warrants

 

 

 

 
(141
)
 
(141
)
Income tax provision
65

 

 
49

 
23

 
6

 
143

Operating income (loss)
2,725

 
11

 
446

 
268

 
(1,527
)
 
1,923

Depreciation and amortization
869

 
593

 
434

 
149

 
38

 
2,083

Gain on sale or disposal of asset, net

 

 
(4
)
 

 

 
(4
)
Project development and acquisition costs

 

 

 

 
142

 
142

Share-based compensation

 

 

 

 
107

 
107

Corporate

 

 

 

 
1,240

 
1,240

Adjusted Property EBITDA
$
3,594

 
$
604

 
$
876

 
$
417

 
$

 
$
5,491


(In thousands, unaudited)
Three Months Ended June 30, 2018
 
Silver Slipper Casino and Hotel
 
Rising Star Casino Resort
 
Bronco Billy’s Casino and Hotel
 
Northern Nevada Casinos
 
Corporate
 
Total
Revenues
 
 
 
 
 
 
 
 
 
 
 
Casino
$
11,438

 
$
7,974

 
$
5,373

 
$
3,847

 
$

 
$
28,632

Food and beverage
4,824

 
2,291

 
1,182

 
486

 

 
8,783

Hotel
835

 
1,586

 
161

 

 

 
2,582

Other operations
395

 
677

 
79

 
79

 

 
1,230

 
$
17,492

 
$
12,528

 
$
6,795

 
$
4,412

 
$

 
$
41,227

 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
$
2,302

 
$
114

 
$
762

 
$
265

 
$
(4,104
)
 
$
(661
)
Interest expense, net
5

 
58

 

 

 
2,403

 
2,466

Adjustment to fair value of warrants

 

 

 

 
80

 
80

Income tax provision
65

 

 
49

 

 
4

 
118

Operating income (loss)
2,372

 
172

 
811

 
265

 
(1,617
)
 
2,003

Depreciation and amortization
811

 
603

 
377

 
208

 
39

 
2,038

Loss on sale or disposal of asset, net

 
1

 
68

 

 

 
69

Project development and acquisition costs

 

 

 

 
130

 
130

Share-based compensation

 

 

 

 
175

 
175

Corporate

 

 

 

 
1,273

 
1,273

Adjusted Property EBITDA
$
3,183

 
$
776

 
$
1,256

 
$
473

 
$

 
$
5,688

(In thousands, unaudited)
Six Months Ended June 30, 2019
 
Silver Slipper Casino and Hotel
 
Rising Star Casino Resort
 
Bronco Billy’s Casino and Hotel
 
Northern Nevada Casinos
 
Corporate
 
Total
Revenues
 
 
 
 
 
 
 
 
 
 
 
Casino
$
24,015

 
$
14,869

 
$
10,806

 
$
7,058

 
$

 
$
56,748

Food and beverage
10,886

 
3,613

 
2,025

 
997

 

 
17,521

Hotel
2,449

 
2,983

 
334

 

 

 
5,766

Other operations
824

 
1,000

 
152

 
146

 

 
2,122

 
$
38,174

 
$
22,465

 
$
13,317

 
$
8,201

 
$

 
$
82,157

 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
$
5,582

 
$
(298
)
 
$
515

 
$
60

 
$
(8,486
)
 
$
(2,627
)
Interest expense, net
12

 
106

 

 
(1
)
 
5,517

 
5,634

Adjustment to fair value of warrants

 

 

 

 
(101
)
 
(101
)
Income tax provision
131

 

 
99

 
47

 
8

 
285

Operating income (loss)
5,725

 
(192
)
 
614

 
106

 
(3,062
)
 
3,191

Depreciation and amortization
1,716

 
1,199

 
881

 
302

 
76

 
4,174

Gain on sale or disposal of asset, net
(1
)
 

 
(4
)
 

 

 
(5
)
Project development and acquisition costs

 

 

 

 
275

 
275

Share-based compensation

 

 

 

 
193

 
193

Corporate

 

 

 

 
2,518

 
2,518

Adjusted Property EBITDA
$
7,440

 
$
1,007

 
$
1,491

 
$
408

 
$

 
$
10,346

 
 
 
 
 
 
 
 
 
 
 
 
(In thousands, unaudited)
Six Months Ended June 30, 2018
 
Silver Slipper Casino and Hotel
 
Rising Star Casino Resort
 
Bronco Billy’s Casino and Hotel
 
Northern Nevada Casinos
 
Corporate
 
Total
Revenues
 
 
 
 
 
 
 
 
 
 
 
Casino
$
22,488

 
$
15,499

 
$
10,347

 
$
7,268

 
$

 
$
55,602

Food and beverage
9,169

 
4,348

 
2,258

 
947

 

 
16,722

Hotel
1,612

 
2,974

 
279

 

 

 
4,865

Other operations
732

 
934

 
153

 
150

 

 
1,969

 
$
34,001

 
$
23,755

 
$
13,037

 
$
8,365

 
$

 
$
79,158

 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
$
4,294

 
$
(88
)
 
$
944

 
$
44

 
$
(10,141
)
 
$
(4,947
)
Interest expense, net
9

 
116

 

 

 
4,881

 
5,006

Loss on extinguishment of debt

 

 

 

 
2,673

 
2,673

Adjustment to fair value of warrants

 

 

 

 
(423
)
 
(423
)
Income tax provision
131

 

 
99

 

 
7

 
237

Operating income (loss)
4,434

 
28

 
1,043

 
44

 
(3,003
)
 
2,546

Depreciation and amortization
1,631

 
1,232

 
849

 
416

 
78

 
4,206

Loss on sale or disposal of asset, net
1

 
9

 
69

 

 

 
79

Project development and acquisition costs

 

 

 

 
167

 
167

Share-based compensation

 

 

 

 
407

 
407

Corporate

 

 

 

 
2,351

 
2,351

Adjusted Property EBITDA
$
6,066

 
$
1,269

 
$
1,961

 
$
460

 
$

 
$
9,756

Schedule of Selected Statement of Operations Data
The following tables present the Company’s segment information:

(In thousands, unaudited)
Three Months Ended June 30, 2019
 
Silver Slipper Casino and Hotel
 
Rising Star Casino Resort
 
Bronco Billy’s Casino and Hotel
 
Northern Nevada Casinos
 
Corporate
 
Total
Revenues
 
 
 
 
 
 
 
 
 
 
 
Casino
$
11,636

 
$
7,526

 
$
5,563

 
$
3,725

 
$

 
$
28,450

Food and beverage
5,515

 
1,800

 
1,051

 
497

 

 
8,863

Hotel
1,305

 
1,560

 
186

 

 

 
3,051

Other operations
436

 
712

 
77

 
74

 

 
1,299

 
$
18,892

 
$
11,598

 
$
6,877

 
$
4,296

 
$

 
$
41,663

 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
$
2,655

 
$
(41
)
 
$
397

 
$
245

 
$
(4,266
)
 
$
(1,010
)
Interest expense, net
5

 
52

 

 

 
2,874

 
2,931

Adjustment to fair value of warrants

 

 

 

 
(141
)
 
(141
)
Income tax provision
65

 

 
49

 
23

 
6

 
143

Operating income (loss)
2,725

 
11

 
446

 
268

 
(1,527
)
 
1,923

Depreciation and amortization
869

 
593

 
434

 
149

 
38

 
2,083

Gain on sale or disposal of asset, net

 

 
(4
)
 

 

 
(4
)
Project development and acquisition costs

 

 

 

 
142

 
142

Share-based compensation

 

 

 

 
107

 
107

Corporate

 

 

 

 
1,240

 
1,240

Adjusted Property EBITDA
$
3,594

 
$
604

 
$
876

 
$
417

 
$

 
$
5,491


(In thousands, unaudited)
Three Months Ended June 30, 2018
 
Silver Slipper Casino and Hotel
 
Rising Star Casino Resort
 
Bronco Billy’s Casino and Hotel
 
Northern Nevada Casinos
 
Corporate
 
Total
Revenues
 
 
 
 
 
 
 
 
 
 
 
Casino
$
11,438

 
$
7,974

 
$
5,373

 
$
3,847

 
$

 
$
28,632

Food and beverage
4,824

 
2,291

 
1,182

 
486

 

 
8,783

Hotel
835

 
1,586

 
161

 

 

 
2,582

Other operations
395

 
677

 
79

 
79

 

 
1,230

 
$
17,492

 
$
12,528

 
$
6,795

 
$
4,412

 
$

 
$
41,227

 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
$
2,302

 
$
114

 
$
762

 
$
265

 
$
(4,104
)
 
$
(661
)
Interest expense, net
5

 
58

 

 

 
2,403

 
2,466

Adjustment to fair value of warrants

 

 

 

 
80

 
80

Income tax provision
65

 

 
49

 

 
4

 
118

Operating income (loss)
2,372

 
172

 
811

 
265

 
(1,617
)
 
2,003

Depreciation and amortization
811

 
603

 
377

 
208

 
39

 
2,038

Loss on sale or disposal of asset, net

 
1

 
68

 

 

 
69

Project development and acquisition costs

 

 

 

 
130

 
130

Share-based compensation

 

 

 

 
175

 
175

Corporate

 

 

 

 
1,273

 
1,273

Adjusted Property EBITDA
$
3,183

 
$
776

 
$
1,256

 
$
473

 
$

 
$
5,688

(In thousands, unaudited)
Six Months Ended June 30, 2019
 
Silver Slipper Casino and Hotel
 
Rising Star Casino Resort
 
Bronco Billy’s Casino and Hotel
 
Northern Nevada Casinos
 
Corporate
 
Total
Revenues
 
 
 
 
 
 
 
 
 
 
 
Casino
$
24,015

 
$
14,869

 
$
10,806

 
$
7,058

 
$

 
$
56,748

Food and beverage
10,886

 
3,613

 
2,025

 
997

 

 
17,521

Hotel
2,449

 
2,983

 
334

 

 

 
5,766

Other operations
824

 
1,000

 
152

 
146

 

 
2,122

 
$
38,174

 
$
22,465

 
$
13,317

 
$
8,201

 
$

 
$
82,157

 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
$
5,582

 
$
(298
)
 
$
515

 
$
60

 
$
(8,486
)
 
$
(2,627
)
Interest expense, net
12

 
106

 

 
(1
)
 
5,517

 
5,634

Adjustment to fair value of warrants

 

 

 

 
(101
)
 
(101
)
Income tax provision
131

 

 
99

 
47

 
8

 
285

Operating income (loss)
5,725

 
(192
)
 
614

 
106

 
(3,062
)
 
3,191

Depreciation and amortization
1,716

 
1,199

 
881

 
302

 
76

 
4,174

Gain on sale or disposal of asset, net
(1
)
 

 
(4
)
 

 

 
(5
)
Project development and acquisition costs

 

 

 

 
275

 
275

Share-based compensation

 

 

 

 
193

 
193

Corporate

 

 

 

 
2,518

 
2,518

Adjusted Property EBITDA
$
7,440

 
$
1,007

 
$
1,491

 
$
408

 
$

 
$
10,346

 
 
 
 
 
 
 
 
 
 
 
 
(In thousands, unaudited)
Six Months Ended June 30, 2018
 
Silver Slipper Casino and Hotel
 
Rising Star Casino Resort
 
Bronco Billy’s Casino and Hotel
 
Northern Nevada Casinos
 
Corporate
 
Total
Revenues
 
 
 
 
 
 
 
 
 
 
 
Casino
$
22,488

 
$
15,499

 
$
10,347

 
$
7,268

 
$

 
$
55,602

Food and beverage
9,169

 
4,348

 
2,258

 
947

 

 
16,722

Hotel
1,612

 
2,974

 
279

 

 

 
4,865

Other operations
732

 
934

 
153

 
150

 

 
1,969

 
$
34,001

 
$
23,755

 
$
13,037

 
$
8,365

 
$

 
$
79,158

 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
$
4,294

 
$
(88
)
 
$
944

 
$
44

 
$
(10,141
)
 
$
(4,947
)
Interest expense, net
9

 
116

 

 

 
4,881

 
5,006

Loss on extinguishment of debt

 

 

 

 
2,673

 
2,673

Adjustment to fair value of warrants

 

 

 

 
(423
)
 
(423
)
Income tax provision
131

 

 
99

 

 
7

 
237

Operating income (loss)
4,434

 
28

 
1,043

 
44

 
(3,003
)
 
2,546

Depreciation and amortization
1,631

 
1,232

 
849

 
416

 
78

 
4,206

Loss on sale or disposal of asset, net
1

 
9

 
69

 

 

 
79

Project development and acquisition costs

 

 

 

 
167

 
167

Share-based compensation

 

 

 

 
407

 
407

Corporate

 

 

 

 
2,351

 
2,351

Adjusted Property EBITDA
$
6,066

 
$
1,269

 
$
1,961

 
$
460

 
$

 
$
9,756


(In thousands)
June 30,
2019
 
December 31,
2018
 
(Unaudited)
 
 
Total Assets
 
 
 
     Silver Slipper Casino and Hotel
$
87,526

 
$
79,094

     Rising Star Casino Resort
40,110

 
39,722

     Bronco Billy’s Casino and Hotel
43,327

 
42,780

     Northern Nevada Casinos
18,739

 
12,395

     Corporate and Other
15,397

 
8,281

 
$
205,099

 
$
182,272