Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING (Segment Reporting) (Details)

v3.8.0.1
SEGMENT REPORTING (Segment Reporting) (Details) - USD ($)
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
Revenues      
Golf course operations $ 53,554,000 $ 46,296,000  
Sales of food and beverages 13,106,000 12,845,000  
Total revenues 66,660,000 59,141,000  
Operating costs      
Operating expenses 57,379,000 50,509,000  
Cost of sales - food and beverages 4,040,000 4,032,000  
General and administrative expense 7,335,000 5,833,000  
General and administrative expense - acquisition and transaction expenses 1,857,000 1,654,000  
Management fee to affiliate 0 2,677,000  
Depreciation and amortization 5,548,000 5,793,000  
Pre-opening costs 1,556,000 0  
Impairment 1,473,000    
Realized and unrealized loss on investments (242,000) 3,389,000  
Total operating costs 78,946,000 73,887,000  
Operating loss (12,286,000) (14,746,000)  
Other income (expenses)      
Interest and investment income 446,000 7,888,000  
Interest expense, net (4,049,000) (5,434,000)  
Other (loss) income, net (406,000) (123,000)  
Total other income (expenses) (4,009,000) 2,331,000  
Income tax expense 0 539,000  
Net (loss) income (16,295,000) (12,954,000)  
Preferred dividends (1,395,000) (1,395,000)  
Loss Applicable to Common Stockholders (17,690,000) (14,349,000)  
Total assets 513,976,000   $ 536,648,000
Total liabilities 355,495,000   365,597,000
Preferred stock 61,583,000   61,583,000
Equity attributable to common stockholders 96,898,000    
Additions to property and equipment (including capital leases) during the three months ended March 31, 2018 13,538,000    
Amortization of intangibles 1,000,000 1,000,000  
Accretion of membership deposit liabilities 1,700,000 1,600,000  
Equity method investment 21,514,000   $ 21,135,000
Traditional Golf | Operating Segments      
Revenues      
Golf course operations 53,554,000 46,296,000  
Sales of food and beverages 13,106,000 12,845,000  
Total revenues 66,660,000 59,141,000  
Operating costs      
Operating expenses 57,379,000 50,509,000  
Cost of sales - food and beverages 4,040,000 4,032,000  
General and administrative expense 4,153,000 4,222,000  
General and administrative expense - acquisition and transaction expenses 307,000 276,000  
Management fee to affiliate   0  
Depreciation and amortization 5,513,000 5,793,000  
Pre-opening costs 0    
Impairment 1,326,000    
Realized and unrealized loss on investments (242,000) 120,000  
Total operating costs 72,476,000 64,952,000  
Operating loss (5,816,000) (5,811,000)  
Other income (expenses)      
Interest and investment income 51,000 39,000  
Interest expense, net (3,555,000) (3,817,000)  
Other (loss) income, net (938,000) (624,000)  
Total other income (expenses) (4,442,000) (4,402,000)  
Income tax expense 0 0  
Net (loss) income (10,258,000) (10,213,000)  
Preferred dividends 0 0  
Loss Applicable to Common Stockholders (10,258,000) (10,213,000)  
Total assets 320,491,000    
Total liabilities 290,553,000    
Preferred stock 0    
Equity attributable to common stockholders 29,938,000    
Additions to property and equipment (including capital leases) during the three months ended March 31, 2018 4,040,000    
Rental expenses recorded under operating leases 600,000 800,000  
Entertainment Golf | Operating Segments      
Revenues      
Golf course operations 0 0  
Sales of food and beverages 0 0  
Total revenues 0 0  
Operating costs      
Operating expenses 0 0  
Cost of sales - food and beverages 0 0  
General and administrative expense 1,102,000 15,000  
General and administrative expense - acquisition and transaction expenses 1,253,000 1,261,000  
Management fee to affiliate   0  
Depreciation and amortization 30,000 0  
Pre-opening costs 1,556,000    
Impairment 0    
Realized and unrealized loss on investments 0 0  
Total operating costs 3,941,000 1,276,000  
Operating loss (3,941,000) (1,276,000)  
Other income (expenses)      
Interest and investment income 28,000 0  
Interest expense, net 0 0  
Other (loss) income, net 0 0  
Total other income (expenses) 28,000 0  
Income tax expense 0 0  
Net (loss) income (3,913,000) (1,276,000)  
Preferred dividends 0 0  
Loss Applicable to Common Stockholders (3,913,000) (1,276,000)  
Total assets 81,575,000    
Total liabilities 9,160,000    
Preferred stock 0    
Equity attributable to common stockholders 72,415,000    
Additions to property and equipment (including capital leases) during the three months ended March 31, 2018 9,498,000    
Capitalized interest 400,000    
Debt Investments | Operating Segments      
Revenues      
Golf course operations 0 0  
Sales of food and beverages 0 0  
Total revenues 0 0  
Operating costs      
Operating expenses 0 0  
Cost of sales - food and beverages 0 0  
General and administrative expense 6,000 1,000  
General and administrative expense - acquisition and transaction expenses 0 0  
Management fee to affiliate   0  
Depreciation and amortization 0 0  
Pre-opening costs 0    
Impairment 147,000    
Realized and unrealized loss on investments 0 3,269,000  
Total operating costs 153,000 3,270,000  
Operating loss (153,000) (3,270,000)  
Other income (expenses)      
Interest and investment income 59,000 7,802,000  
Interest expense, net 0 (1,206,000)  
Other (loss) income, net 532,000 501,000  
Total other income (expenses) 591,000 7,097,000  
Income tax expense 0 0  
Net (loss) income 438,000 3,827,000  
Preferred dividends 0 0  
Loss Applicable to Common Stockholders 438,000 3,827,000  
Total assets 24,306,000    
Total liabilities 79,000    
Preferred stock 0    
Equity attributable to common stockholders 24,227,000    
Additions to property and equipment (including capital leases) during the three months ended March 31, 2018 0    
Equity method investment 21,500,000    
Corporate | Operating Segments      
Revenues      
Golf course operations 0 0  
Sales of food and beverages 0 0  
Total revenues 0 0  
Operating costs      
Operating expenses 0 0  
Cost of sales - food and beverages 0 0  
General and administrative expense 2,074,000 1,595,000  
General and administrative expense - acquisition and transaction expenses 297,000 117,000  
Management fee to affiliate   2,677,000  
Depreciation and amortization 5,000 0  
Pre-opening costs 0    
Impairment 0    
Realized and unrealized loss on investments 0 0  
Total operating costs 2,376,000 4,389,000  
Operating loss (2,376,000) (4,389,000)  
Other income (expenses)      
Interest and investment income 308,000 47,000  
Interest expense, net (494,000) (411,000)  
Other (loss) income, net 0 0  
Total other income (expenses) (186,000) (364,000)  
Income tax expense 0 539,000  
Net (loss) income (2,562,000) (5,292,000)  
Preferred dividends (1,395,000) (1,395,000)  
Loss Applicable to Common Stockholders (3,957,000) $ (6,687,000)  
Total assets 87,604,000    
Total liabilities 55,703,000    
Preferred stock 61,583,000    
Equity attributable to common stockholders (29,682,000)    
Additions to property and equipment (including capital leases) during the three months ended March 31, 2018 $ 0