Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING (Segment Reporting) (Details)

v3.20.2
SEGMENT REPORTING (Segment Reporting) (Details) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2020
Jun. 30, 2020
Mar. 31, 2020
Sep. 30, 2019
Jun. 30, 2019
Mar. 31, 2019
Sep. 30, 2020
Sep. 30, 2019
Dec. 31, 2019
Revenues                  
Total revenues $ 66,465,000     $ 74,682,000     $ 159,700,000 $ 200,249,000  
Operating costs                  
Operating expenses 54,993,000     63,454,000     142,584,000 169,897,000  
Cost of sales - food and beverages 2,170,000     3,856,000     6,654,000 10,458,000  
General and administrative expense 6,815,000     10,400,000     20,987,000 34,039,000  
General and administrative expense - acquisition and transaction expenses 1,101,000     2,355,000     3,115,000 3,942,000  
Depreciation and amortization 6,853,000     5,723,000     20,329,000 15,769,000  
Pre-opening costs 227,000     4,350,000     1,049,000 7,229,000  
(Gain) Loss on lease terminations and impairment 302,000     1,872,000     (2,031,000) 6,077,000  
Realized and unrealized gain (loss) on investments 0           0 0  
Total operating costs 72,461,000     92,010,000     192,687,000 247,411,000  
Operating loss (5,996,000)     (17,328,000)     (32,987,000) (47,162,000)  
Other income (expenses)                  
Interest and investment income 135,000     191,000     400,000 799,000  
Interest expense (2,897,000)     (2,790,000)     (8,311,000) (8,241,000)  
Capitalized interest 1,000     729,000     79,000 2,233,000  
Other income (loss), net (157,000)     7,341,000     (24,212,000) 12,955,000  
Total other income (expenses) (2,918,000)     5,471,000     (32,044,000) 7,746,000  
Income tax expense 498,000     162,000     1,269,000 162,000  
Net loss (9,412,000) $ (39,526,000) $ (17,362,000) (12,019,000) $ (12,959,000) $ (14,600,000) (66,300,000) (39,578,000)  
Preferred dividends (1,395,000)     (1,395,000)     (4,185,000) (4,185,000)  
Loss applicable to common stockholders (10,807,000)     (13,414,000)     (70,485,000) (43,763,000)  
Total assets 449,489,000           449,489,000   $ 515,991,000
Total liabilities 449,864,000           449,864,000   450,416,000
Preferred stock 61,583,000           61,583,000   61,583,000
Equity (61,958,000)           (61,958,000)    
Additions to property and equipment (including finance leases) during the nine months ended September 30, 2020             9,505,000    
Severance expenses 400,000     500,000     1,100,000 1,600,000  
Equity method investment 0           0   $ 24,020,000
Golf operations                  
Revenues                  
Total revenues 58,766,000     60,797,000     137,066,000 162,889,000  
Food and beverages                  
Revenues                  
Total revenues 7,699,000     13,885,000     22,634,000 37,360,000  
Entertainment Golf                  
Other income (expenses)                  
Accretion of membership deposit liabilities 2,300,000     1,800,000     6,100,000 5,400,000  
Entertainment Golf | Operating Segments                  
Revenues                  
Total revenues 6,176,000     3,687,000     18,083,000 6,887,000  
Operating costs                  
Operating expenses 4,240,000     3,202,000     15,041,000 6,807,000  
Cost of sales - food and beverages 843,000     604,000     2,747,000 1,106,000  
General and administrative expense 1,749,000     3,433,000     6,278,000 10,349,000  
General and administrative expense - acquisition and transaction expenses 996,000     2,117,000     1,861,000 3,094,000  
Depreciation and amortization 2,991,000     1,450,000     9,012,000 3,119,000  
Pre-opening costs 227,000     4,350,000     1,049,000 7,229,000  
(Gain) Loss on lease terminations and impairment 16,000     1,152,000     16,000 1,270,000  
Realized and unrealized gain (loss) on investments 0           0 0  
Total operating costs 11,062,000     16,308,000     36,004,000 32,974,000  
Operating loss (4,886,000)     (12,621,000)     (17,921,000) (26,087,000)  
Other income (expenses)                  
Interest and investment income 0     64,000     1,000 311,000  
Interest expense (94,000)     (103,000)     (301,000) (245,000)  
Capitalized interest 0     0     0 0  
Other income (loss), net 0     0     0 (7,000)  
Total other income (expenses) (94,000)     (39,000)     (300,000) 59,000  
Income tax expense 1,000     0     1,000 0  
Net loss (4,981,000)     (12,660,000)     (18,222,000) (26,028,000)  
Preferred dividends 0     0     0 0  
Loss applicable to common stockholders (4,981,000)     (12,660,000)     (18,222,000) (26,028,000)  
Total assets 152,062,000           152,062,000    
Total liabilities 40,340,000           40,340,000    
Preferred stock 0           0    
Equity 111,722,000           111,722,000    
Additions to property and equipment (including finance leases) during the nine months ended September 30, 2020             5,506,000    
Entertainment Golf | Operating Segments | Golf operations                  
Revenues                  
Total revenues 2,736,000     1,431,000     7,408,000 2,720,000  
Entertainment Golf | Operating Segments | Food and beverages                  
Revenues                  
Total revenues 3,440,000     2,256,000     10,675,000 4,167,000  
Traditional Golf | Operating Segments                  
Revenues                  
Total revenues 60,289,000     70,995,000     141,617,000 193,362,000  
Operating costs                  
Operating expenses 50,753,000     60,252,000     127,543,000 163,090,000  
Cost of sales - food and beverages 1,327,000     3,252,000     3,907,000 9,352,000  
General and administrative expense 2,810,000     4,500,000     8,092,000 12,713,000  
General and administrative expense - acquisition and transaction expenses 41,000     207,000     196,000 539,000  
Depreciation and amortization 3,789,000     4,192,000     11,100,000 12,528,000  
Pre-opening costs 0     0     0 0  
(Gain) Loss on lease terminations and impairment 286,000     720,000     (2,047,000) 4,807,000  
Realized and unrealized gain (loss) on investments 0           0 0  
Total operating costs 59,006,000     73,123,000     148,791,000 203,029,000  
Operating loss 1,283,000     (2,128,000)     (7,174,000) (9,667,000)  
Other income (expenses)                  
Interest and investment income 18,000     24,000     56,000 84,000  
Interest expense (2,446,000)     (2,088,000)     (6,691,000) (6,140,000)  
Capitalized interest 1,000     169,000     23,000 583,000  
Other income (loss), net (215,000)     6,896,000     (381,000) 11,582,000  
Total other income (expenses) (2,642,000)     5,001,000     (6,993,000) 6,109,000  
Income tax expense 0     0     0 0  
Net loss (1,359,000)     2,873,000     (14,167,000) (3,558,000)  
Preferred dividends 0     0     0 0  
Loss applicable to common stockholders (1,359,000)     2,873,000     (14,167,000) (3,558,000)  
Total assets 285,262,000           285,262,000    
Total liabilities 345,851,000           345,851,000    
Preferred stock 0           0    
Equity (60,589,000)           (60,589,000)    
Additions to property and equipment (including finance leases) during the nine months ended September 30, 2020             3,596,000    
Traditional Golf | Operating Segments | Golf operations                  
Revenues                  
Total revenues 56,030,000     59,366,000     129,658,000 160,169,000  
Traditional Golf | Operating Segments | Food and beverages                  
Revenues                  
Total revenues 4,259,000     11,629,000     11,959,000 33,193,000  
Corporate | Operating Segments                  
Revenues                  
Total revenues 0     0     0 0  
Operating costs                  
Operating expenses 0     0     0 0  
Cost of sales - food and beverages 0     0     0 0  
General and administrative expense 2,256,000     2,467,000     6,617,000 10,977,000  
General and administrative expense - acquisition and transaction expenses 64,000     31,000     1,058,000 309,000  
Depreciation and amortization 73,000     81,000     217,000 122,000  
Pre-opening costs 0     0     0 0  
(Gain) Loss on lease terminations and impairment 0     0     0 0  
Realized and unrealized gain (loss) on investments 0           0 0  
Total operating costs 2,393,000     2,579,000     7,892,000 11,408,000  
Operating loss (2,393,000)     (2,579,000)     (7,892,000) (11,408,000)  
Other income (expenses)                  
Interest and investment income 117,000     103,000     343,000 404,000  
Interest expense (357,000)     (599,000)     (1,319,000) (1,856,000)  
Capitalized interest 0     560,000     56,000 1,650,000  
Other income (loss), net 58,000     445,000     (23,831,000) 1,380,000  
Total other income (expenses) (182,000)     509,000     (24,751,000) 1,578,000  
Income tax expense 497,000     162,000     1,268,000 162,000  
Net loss (3,072,000)     (2,232,000)     (33,911,000) (9,992,000)  
Preferred dividends (1,395,000)     (1,395,000)     (4,185,000) (4,185,000)  
Loss applicable to common stockholders (4,467,000)     (3,627,000)     (38,096,000) (14,177,000)  
Total assets 12,165,000           12,165,000    
Total liabilities 63,673,000           63,673,000    
Preferred stock 61,583,000           61,583,000    
Equity (113,091,000)           (113,091,000)    
Additions to property and equipment (including finance leases) during the nine months ended September 30, 2020             403,000    
Corporate | Operating Segments | Golf operations                  
Revenues                  
Total revenues 0     0     0 0  
Corporate | Operating Segments | Food and beverages                  
Revenues                  
Total revenues $ 0     $ 0     $ 0 $ 0