Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING (Segment Reporting) (Details)

v3.19.2
SEGMENT REPORTING (Segment Reporting) (Details) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Dec. 31, 2018
Revenues          
Total revenues $ 71,615,000 $ 91,004,000 $ 125,567,000 $ 157,664,000  
Operating costs          
Operating expenses 58,720,000 67,042,000 106,443,000 124,421,000  
Cost of sales - food and beverages 3,904,000 6,193,000 6,601,000 10,233,000  
General and administrative expense 12,432,000 9,809,000 23,652,000 17,362,000  
General and administrative expense - acquisition and transaction expenses 1,175,000 459,000 1,574,000 2,100,000  
Depreciation and amortization 5,122,000 4,315,000 10,046,000 9,863,000  
Pre-opening costs 1,700,000 247,000 2,879,000 1,803,000  
Impairment 118,000 0 4,206,000 1,473,000  
Realized and unrealized (gain) loss on investments 0 (89,000) 0 (331,000)  
Total operating costs 83,171,000 87,976,000 155,401,000 166,924,000  
Operating income (loss) (11,556,000) 3,028,000 (29,834,000) (9,260,000)  
Other income (expenses)          
Interest and investment income 265,000 469,000 608,000 915,000  
Interest expense (2,632,000) (4,731,000) (5,449,000) (9,163,000)  
Capitalized interest 837,000 130,000 1,502,000 513,000  
Other (loss) income, net 127,000 (3,699,000) 5,614,000 (4,105,000)  
Total other income (expenses) (1,403,000) (7,831,000) 2,275,000 (11,840,000)  
Income tax expense 0 0 0 0  
Net Loss (12,959,000) (4,803,000) (27,559,000) (21,100,000)  
Preferred dividends (1,395,000) (1,395,000) (2,790,000) (2,790,000)  
Loss Applicable to Common Stockholders (14,354,000) (6,198,000) (30,349,000) (23,890,000)  
Total assets 559,075,000   559,075,000   $ 401,947,000
Total liabilities 461,953,000   461,953,000   267,280,000
Preferred stock 61,583,000   61,583,000   61,583,000
Equity attributable to common stockholders 35,539,000   35,539,000    
Additions to property and equipment (including finance leases) during the six months ended June 30, 2019     55,387,000    
Rental expenses recorded under operating leases 200,000 600,000      
Rental expenses recorded under operating leases     500,000 1,100,000  
Severance expenses 700,000 0 1,100,000 100,000  
Equity method investment 23,300,000   23,300,000   $ 22,613,000
Golf operations          
Revenues          
Total revenues 57,386,000 69,150,000 102,092,000 122,704,000  
Food and beverages          
Revenues          
Total revenues 14,229,000 21,854,000 23,475,000 34,960,000  
Entertainment Golf | Operating Segments          
Revenues          
Total revenues 1,479,000 1,807,000 3,199,000 1,807,000  
Operating costs          
Operating expenses 1,857,000 1,835,000 3,605,000 1,835,000  
Cost of sales - food and beverages 251,000 228,000 501,000 228,000  
General and administrative expense 3,551,000 1,535,000 6,930,000 2,638,000  
General and administrative expense - acquisition and transaction expenses 806,000 200,000 963,000 1,454,000  
Depreciation and amortization 961,000 504,000 1,670,000 535,000  
Pre-opening costs 1,700,000 247,000 2,879,000 1,803,000  
Impairment 118,000 0 118,000 0  
Realized and unrealized (gain) loss on investments 0 0 0 0  
Total operating costs 9,244,000 4,549,000 16,666,000 8,493,000  
Operating income (loss) (7,765,000) (2,742,000) (13,467,000) (6,686,000)  
Other income (expenses)          
Interest and investment income 114,000 84,000 246,000 112,000  
Interest expense (142,000) 0 (142,000) 0  
Capitalized interest 0 0 0 0  
Other (loss) income, net 0 0 (7,000) 0  
Total other income (expenses) (28,000) 84,000 97,000 112,000  
Income tax expense 0 0 0 0  
Net Loss (7,793,000) (2,658,000) (13,370,000) (6,574,000)  
Preferred dividends 0 0 0 0  
Loss Applicable to Common Stockholders (7,793,000) (2,658,000) (13,370,000) (6,574,000)  
Total assets 180,343,000   180,343,000    
Total liabilities 46,035,000   46,035,000    
Preferred stock 0   0    
Equity attributable to common stockholders 134,308,000   134,308,000    
Additions to property and equipment (including finance leases) during the six months ended June 30, 2019     47,249,000    
Entertainment Golf | Operating Segments | Golf operations          
Revenues          
Total revenues 607,000 855,000 1,288,000 855,000  
Entertainment Golf | Operating Segments | Food and beverages          
Revenues          
Total revenues 872,000 952,000 1,911,000 952,000  
Traditional Golf          
Other income (expenses)          
Accretion of membership deposit liabilities 1,600,000 1,700,000 3,600,000 3,400,000  
Traditional Golf | Operating Segments          
Revenues          
Total revenues 70,136,000 89,197,000 122,368,000 155,857,000  
Operating costs          
Operating expenses 56,863,000 65,207,000 102,838,000 122,586,000  
Cost of sales - food and beverages 3,653,000 5,965,000 6,100,000 10,005,000  
General and administrative expense 4,316,000 4,313,000 8,212,000 8,467,000  
General and administrative expense - acquisition and transaction expenses 179,000 200,000 333,000 508,000  
Depreciation and amortization 4,118,000 3,808,000 8,335,000 9,320,000  
Pre-opening costs 0 0 0 0  
Impairment 0 0 4,088,000 1,326,000  
Realized and unrealized (gain) loss on investments 0 (89,000) 0 (331,000)  
Total operating costs 69,129,000 79,404,000 129,906,000 151,881,000  
Operating income (loss) 1,007,000 9,793,000 (7,538,000) 3,976,000  
Other income (expenses)          
Interest and investment income 23,000 45,000 61,000 96,000  
Interest expense (1,861,000) (4,161,000) (4,051,000) (8,099,000)  
Capitalized interest 226,000 87,000 413,000 342,000  
Other (loss) income, net (343,000) (4,228,000) 4,688,000 (5,166,000)  
Total other income (expenses) (1,955,000) (8,257,000) 1,111,000 (12,827,000)  
Income tax expense 0 0 0 0  
Net Loss (948,000) 1,536,000 (6,427,000) (8,851,000)  
Preferred dividends 0 0 0 0  
Loss Applicable to Common Stockholders (948,000) 1,536,000 (6,427,000) (8,851,000)  
Total assets 336,484,000   336,484,000    
Total liabilities 354,116,000   354,116,000    
Preferred stock 0   0    
Equity attributable to common stockholders (17,632,000)   (17,632,000)    
Additions to property and equipment (including finance leases) during the six months ended June 30, 2019     6,490,000    
Traditional Golf | Operating Segments | Golf operations          
Revenues          
Total revenues 56,779,000 68,295,000 100,804,000 121,849,000  
Traditional Golf | Operating Segments | Food and beverages          
Revenues          
Total revenues 13,357,000 20,902,000 21,564,000 34,008,000  
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 4,565,000 3,961,000 8,510,000 6,257,000  
General and administrative expense - acquisition and transaction expenses 190,000 59,000 278,000 138,000  
Depreciation and amortization 43,000 3,000 41,000 8,000  
Pre-opening costs 0 0 0 0  
Impairment 0 0 0 147,000  
Realized and unrealized (gain) loss on investments 0 0 0 0  
Total operating costs 4,798,000 4,023,000 8,829,000 6,550,000  
Operating income (loss) (4,798,000) (4,023,000) (8,829,000) (6,550,000)  
Other income (expenses)          
Interest and investment income 128,000 340,000 301,000 707,000  
Interest expense (629,000) (570,000) (1,256,000) (1,064,000)  
Capitalized interest 611,000 43,000 1,089,000 171,000  
Other (loss) income, net 470,000 529,000 933,000 1,061,000  
Total other income (expenses) 580,000 342,000 1,067,000 875,000  
Income tax expense 0 0 0 0  
Net Loss (4,218,000) (3,681,000) (7,762,000) (5,675,000)  
Preferred dividends (1,395,000) (1,395,000) (2,790,000) (2,790,000)  
Loss Applicable to Common Stockholders (5,613,000) (5,076,000) (10,552,000) (8,465,000)  
Total assets 42,248,000   42,248,000    
Total liabilities 61,802,000   61,802,000    
Preferred stock 61,583,000   61,583,000    
Equity attributable to common stockholders (81,137,000)   (81,137,000)    
Additions to property and equipment (including finance leases) during the six months ended June 30, 2019     1,648,000    
Equity method investment 23,300,000   23,300,000    
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