Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING (Segment Reporting) (Details)

v3.21.2
SEGMENT REPORTING (Segment Reporting) (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Jun. 30, 2021
Mar. 31, 2021
Sep. 30, 2020
Jun. 30, 2020
Mar. 31, 2020
Sep. 30, 2021
Sep. 30, 2020
Dec. 31, 2020
Revenues                  
Revenues $ 76,366     $ 66,465     $ 211,337 $ 159,700  
Operating costs                  
Operating expenses 60,729     54,993     165,234 142,584  
Cost of sales - food and beverages 3,696     2,170     8,951 6,654  
General and administrative expense 9,225     6,815     24,864 20,987  
General and administrative expense - acquisition and transaction expenses 460     1,101     833 3,115  
Depreciation and amortization 5,823     6,853     17,852 20,329  
Pre-opening costs 2,030     227     3,375 1,049  
(Gain) Loss on lease terminations and impairment 324     302     2,972 (2,031)  
Total operating costs 82,287     72,461     224,081 192,687  
Operating income (loss) (5,921)     (5,996)     (12,744) (32,987)  
Other income (expenses)                  
Interest and investment income 190     135     502 400  
Interest expense (2,623)     (2,897)     (8,042) (8,311)  
Capitalized interest (3)     1     78 79  
Other income (loss), net 107     (157)     29 (24,212)  
Total other income (expenses) (2,329)     (2,918)     (7,433) (32,044)  
Income tax expense 616     498     1,562 1,269  
Net loss (8,866) $ (1,969) $ (10,904) (9,412) $ (39,526) $ (17,362) (21,739) (66,300)  
Less: net loss attributable to noncontrolling interest (15)     0     (15) 0  
Net loss attributable to the Company (8,851)     (9,412)     (21,724) (66,300)  
Preferred dividends (1,395)     (1,395)     (4,185) (4,185)  
Loss applicable to common stockholders (10,246)     (10,807)     (25,909) (70,485)  
Total assets 484,476     449,489     484,476 449,489 $ 457,054
Total liabilities 443,661     449,864     443,661 449,864 447,017
Preferred stock 61,583     61,583     61,583 61,583 61,583
Noncontrolling interest 1,026           1,026   $ 0
Equity (21,794)     (61,958)     (21,794) (61,958)  
Additions to property and equipment (including finance leases)             23,662 9,505  
Severance expenses 100     400     200 1,100  
Accretion of membership deposit liabilities 2,000     2,300     6,200 6,100  
Golf operations                  
Revenues                  
Revenues 62,257     58,766     177,170 137,066  
Sales of food and beverages                  
Revenues                  
Revenues 14,109     7,699     34,167 22,634  
Operating Segments | Entertainment Golf                  
Revenues                  
Revenues 11,309     6,176     31,121 18,083  
Operating costs                  
Operating expenses 6,718     4,240     17,397 15,041  
Cost of sales - food and beverages 1,453     843     3,982 2,747  
General and administrative expense 3,697     1,749     8,171 6,278  
General and administrative expense - acquisition and transaction expenses 456     996     824 1,861  
Depreciation and amortization 3,038     2,991     8,942 9,012  
Pre-opening costs 2,030     227     3,374 1,049  
(Gain) Loss on lease terminations and impairment 0           22 16  
Total operating costs 17,392     11,062     42,712 36,004  
Operating income (loss) (6,083)     (4,886)     (11,591) (17,921)  
Other income (expenses)                  
Interest and investment income 0     0     0 1  
Interest expense (71)     (94)     (230) (301)  
Capitalized interest (24)     0     (24) 0  
Other income (loss), net 3     0     3 0  
Total other income (expenses) (92)     (94)     (251) (300)  
Income tax expense 0     1     0 1  
Net loss (6,175)     (4,981)     (11,842) (18,222)  
Less: net loss attributable to noncontrolling interest (15)           (15)    
Net loss attributable to the Company (6,160)           (11,827)    
Preferred dividends 0     0     0 0  
Loss applicable to common stockholders (6,160)     (4,981)     (11,827) (18,222)  
Total assets 168,463     152,062     168,463 152,062  
Total liabilities 51,128     40,340     51,128 40,340  
Preferred stock 0     0     0 0  
Noncontrolling interest 1,026           1,026    
Equity 116,309     111,722     116,309 111,722  
Additions to property and equipment (including finance leases)             17,810 5,506  
Operating Segments | Entertainment Golf | Golf operations                  
Revenues                  
Revenues 5,239     2,736     13,976 7,408  
Operating Segments | Entertainment Golf | Sales of food and beverages                  
Revenues                  
Revenues 6,070     3,440     17,145 10,675  
Operating Segments | Traditional Golf                  
Revenues                  
Revenues 65,057     60,289     180,216 141,617  
Operating costs                  
Operating expenses 53,998     50,753     147,822 127,543  
Cost of sales - food and beverages 2,248     1,327     4,974 3,907  
General and administrative expense 2,628     2,810     7,700 8,092  
General and administrative expense - acquisition and transaction expenses 0     41     0 196  
Depreciation and amortization 2,851     3,789     8,854 11,100  
Pre-opening costs 0     0     0 0  
(Gain) Loss on lease terminations and impairment 324           (237) (2,047)  
Total operating costs 62,049     59,006     169,113 148,791  
Operating income (loss) 3,008     1,283     11,103 (7,174)  
Other income (expenses)                  
Interest and investment income 19     18     55 56  
Interest expense (2,229)     (2,446)     (6,848) (6,691)  
Capitalized interest 9     1     37 23  
Other income (loss), net 60     (215)     (115) (381)  
Total other income (expenses) (2,141)     (2,642)     (6,871) (6,993)  
Income tax expense 0     0     0 0  
Net loss 867     (1,359)     4,232 (14,167)  
Less: net loss attributable to noncontrolling interest 0           0    
Net loss attributable to the Company 867           4,232    
Preferred dividends 0     0     0 0  
Loss applicable to common stockholders 867     (1,359)     4,232 (14,167)  
Total assets 254,878     285,262     254,878 285,262  
Total liabilities 329,173     345,851     329,173 345,851  
Preferred stock 0     0     0 0  
Noncontrolling interest 0           0    
Equity (74,295)     (60,589)     (74,295) (60,589)  
Additions to property and equipment (including finance leases)             5,477 3,596  
Operating Segments | Traditional Golf | Golf operations                  
Revenues                  
Revenues 57,018     56,030     163,194 129,658  
Operating Segments | Traditional Golf | Sales of food and beverages                  
Revenues                  
Revenues 8,039     4,259     17,022 11,959  
Operating Segments | Corporate                  
Revenues                  
Revenues 0     0     0 0  
Operating costs                  
Operating expenses 13     0     15 0  
Cost of sales - food and beverages (5)     0     (5) 0  
General and administrative expense 2,900     2,256     8,993 6,617  
General and administrative expense - acquisition and transaction expenses 4     64     9 1,058  
Depreciation and amortization (66)     73     56 217  
Pre-opening costs 0     0     1 0  
(Gain) Loss on lease terminations and impairment 0           3,187 0  
Total operating costs 2,846     2,393     12,256 7,892  
Operating income (loss) (2,846)     (2,393)     (12,256) (7,892)  
Other income (expenses)                  
Interest and investment income 171     117     447 343  
Interest expense (323)     (357)     (964) (1,319)  
Capitalized interest 12     0     65 56  
Other income (loss), net 44     58     141 (23,831)  
Total other income (expenses) (96)     (182)     (311) (24,751)  
Income tax expense 616     497     1,562 1,268  
Net loss (3,558)     (3,072)     (14,129) (33,911)  
Less: net loss attributable to noncontrolling interest 0           0    
Net loss attributable to the Company (3,558)           (14,129)    
Preferred dividends (1,395)     (1,395)     (4,185) (4,185)  
Loss applicable to common stockholders (4,953)     (4,467)     (18,314) (38,096)  
Total assets 61,135     12,165     61,135 12,165  
Total liabilities 63,360     63,673     63,360 63,673  
Preferred stock 61,583     61,583     61,583 61,583  
Noncontrolling interest 0           0    
Equity (63,808)     (113,091)     (63,808) (113,091)  
Additions to property and equipment (including finance leases)             375 403  
Operating Segments | Corporate | Golf operations                  
Revenues                  
Revenues 0     0     0 0  
Operating Segments | Corporate | Sales of food and beverages                  
Revenues                  
Revenues $ 0     $ 0     $ 0 $ 0