| REVENUES |
REVENUES
The majority of the Company’s revenue is recognized at a point in time which is at the time of sale to customers at the Company’s Entertainment Golf venues and Traditional Golf properties, including green fees, cart rentals, bay play, events and sales of food, beverages and merchandise. Revenue from membership dues is recognized in the month earned. Membership dues received in advance are included in deferred revenue and recognized as revenue ratably over the appropriate period, which is generally twelve months or less for private club members and the following month for The Players Club members.
The Company’s revenue is all generated within the Entertainment and Traditional Golf segments. The following tables disaggregate revenue by category: Entertainment golf venues, public and private golf properties (owned and leased) and managed golf properties.
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Three Months Ended September 30, 2019 |
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Nine Months Ended September 30, 2019 |
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Ent. golf venues |
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Public golf properties |
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Private golf properties |
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Managed golf properties (A) |
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Total |
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Ent. golf venues |
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Public golf properties |
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Private golf properties |
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Managed golf properties (A) |
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Total |
Golf operations |
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$ |
1,431 |
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$ |
30,258 |
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$ |
11,902 |
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$ |
17,206 |
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$ |
60,797 |
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$ |
2,720 |
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$ |
76,624 |
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$ |
40,707 |
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$ |
42,838 |
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$ |
162,889 |
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Sales of food and beverages |
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2,256 |
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9,053 |
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2,576 |
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— |
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13,885 |
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4,167 |
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24,646 |
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8,547 |
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— |
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37,360 |
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Total revenues |
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$ |
3,687 |
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$ |
39,311 |
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$ |
14,478 |
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$ |
17,206 |
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$ |
74,682 |
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$ |
6,887 |
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$ |
101,270 |
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$ |
49,254 |
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$ |
42,838 |
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$ |
200,249 |
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Three Months Ended September 30, 2018 |
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Nine Months Ended September 30, 2018 |
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Ent. golf venues |
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Public golf properties |
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Private golf properties |
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Managed golf properties (A) |
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Total |
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Ent. golf venues |
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Public golf properties |
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Private golf properties |
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Managed golf properties (A) |
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Total |
Golf operations |
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$ |
710 |
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$ |
34,689 |
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$ |
25,362 |
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$ |
8,167 |
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$ |
68,928 |
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$ |
1,565 |
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$ |
91,668 |
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$ |
78,202 |
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$ |
20,197 |
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$ |
191,632 |
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Sales of food and beverages |
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830 |
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10,757 |
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6,904 |
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— |
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18,491 |
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1,782 |
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30,271 |
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21,398 |
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— |
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53,451 |
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Total revenues |
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$ |
1,540 |
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$ |
45,446 |
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$ |
32,266 |
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$ |
8,167 |
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$ |
87,419 |
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$ |
3,347 |
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$ |
121,939 |
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$ |
99,600 |
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$ |
20,197 |
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$ |
245,083 |
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(A) |
Includes $15.7 million and $38.5 million for the three and nine months ended September 30, 2019, respectively, and $7.4 million and $18.2 million for the three and nine months ended September 30, 2018, respectively, due to management contract reimbursements reported under the new revenue standard.
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