Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING (Segment Reporting) (Details)

v3.22.2.2
SEGMENT REPORTING (Segment Reporting) (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2022
Mar. 31, 2022
Jun. 30, 2021
Mar. 31, 2021
Jun. 30, 2022
Jun. 30, 2021
Dec. 31, 2021
Revenues [Abstract]              
Total revenues $ 86,689   $ 73,879   $ 155,671 $ 134,971  
Operating costs              
Operating expenses 65,473   55,635   120,613 104,504  
Cost of sales - food and beverages 5,788   3,151   9,149 5,255  
General and administrative expense 11,558   7,852   20,622 15,640  
General and administrative expense - acquisition and transaction expenses     176     372  
Depreciation and amortization 6,132   5,784   12,325 12,029  
Pre-opening costs 1,938   789   2,685 1,345  
(Gain) loss on lease terminations and impairment 2,161   (561)   15,032 2,648  
Total operating costs 93,050   72,826   180,426 141,793  
Operating income (loss) (6,361)   1,053   (24,755) (6,822)  
Other income (expenses)              
Interest and investment income 216   159   416 312  
Interest expense (3,547)   (2,771)   (6,194) (5,420)  
Capitalized interest 0   58     81  
Other income (loss), net 993   (18)   3,640 (79)  
Total other income (expenses) (2,338)   (2,572)   (2,138) (5,106)  
Income tax expense 868   450   1,589 945  
Net income (loss) (9,567) $ (18,913) (1,969) $ (10,904) (28,482) (12,873)  
Less: net loss attributable to NCI (134)   0   (81) 0  
Net loss attributable to the company (9,433)   (1,969)   (28,401) (12,873)  
Preferred dividends (1,395)   (1,395)   (2,790) (2,790)  
Net income (loss) applicable to common stockholders (10,828)   (3,364)   (31,191) (15,663)  
Total assets 458,038   495,839   458,038 495,839 $ 482,790
Total liabilities 461,037   446,329   461,037 446,329 452,935
Preferred stock 61,583   61,583   61,583 61,583 61,583
Noncontrolling interest 2,065       2,065   $ 1,456
Equity (loss) attributable to common stockholders (66,647)   (12,073)   (66,647) (12,073)  
Additions to property and equipment (including finance leases)         8,618 14,267  
Severance expenses 200   100   400 100  
Accretion of membership deposit liabilities 2,900   2,100   4,900 4,100  
Golf operations              
Revenues [Abstract]              
Total revenues 67,577   61,750   122,861 114,912  
Sales of food and beverages              
Revenues [Abstract]              
Total revenues 19,112   12,129   32,810 20,059  
Operating Segments | Entertainment Golf              
Revenues [Abstract]              
Total revenues 15,713   11,589   29,893 19,812  
Operating costs              
Operating expenses 8,525   5,546   16,785 10,679  
Cost of sales - food and beverages 2,701   1,445   4,444 2,530  
General and administrative expense 1,074   2,274   4,800 4,472  
General and administrative expense - acquisition and transaction expenses     176     368  
Depreciation and amortization 3,401   2,952   6,842 5,904  
Pre-opening costs 1,938   788   2,685 1,344  
(Gain) loss on lease terminations and impairment 2,159   0   15,048 22  
Total operating costs 19,798   13,181   50,604 25,319  
Operating income (loss) (4,085)   (1,592)   (20,711) (5,507)  
Other income (expenses)              
Interest and investment income 2   0   2 0  
Interest expense (52)   (77)   (110) (159)  
Capitalized interest 0   0     0  
Other income (loss), net 0   0   (16) 0  
Total other income (expenses) (50)   (77)   (124) (159)  
Income tax expense 8   0   40 0  
Net income (loss) (4,143)   (1,669)   (20,875) (5,666)  
Less: net loss attributable to NCI 0       0    
Net loss attributable to the company (4,143)       (20,875)    
Preferred dividends 0   0   0 0  
Net income (loss) applicable to common stockholders (4,143)   (1,669)   (20,875) (5,666)  
Total assets 196,605   171,386   196,605 171,386  
Total liabilities 69,734   47,133   69,734 47,133  
Preferred stock 0   0   0 0  
Noncontrolling interest 2,579       2,579    
Equity (loss) attributable to common stockholders 124,292   124,253   124,292 124,253  
Additions to property and equipment (including finance leases)         6,276 10,903  
Operating Segments | Entertainment Golf | Golf operations              
Revenues [Abstract]              
Total revenues 7,397   5,316   13,827 8,737  
Operating Segments | Entertainment Golf | Sales of food and beverages              
Revenues [Abstract]              
Total revenues 8,316   6,273   16,066 11,075  
Operating Segments | Traditional Golf              
Revenues [Abstract]              
Total revenues 70,768   62,290   125,385 115,159  
Operating costs              
Operating expenses 56,968   50,087   103,783 93,823  
Cost of sales - food and beverages 3,087   1,706   4,705 2,725  
General and administrative expense 3,923   2,693   6,817 5,073  
General and administrative expense - acquisition and transaction expenses     0     0  
Depreciation and amortization 2,629   2,782   5,273 6,003  
Pre-opening costs 0   0   0 0  
(Gain) loss on lease terminations and impairment 2   (561)   (16) (561)  
Total operating costs 66,609   56,707   120,562 107,063  
Operating income (loss) 4,159   5,583   4,823 8,096  
Other income (expenses)              
Interest and investment income 15   16   41 36  
Interest expense (3,078)   (2,369)   (5,327) (4,620)  
Capitalized interest 0   20     28  
Other income (loss), net 962   (62)   3,590 (176)  
Total other income (expenses) (2,101)   (2,395)   (1,696) (4,732)  
Income tax expense 2   0   2 0  
Net income (loss) 2,056   3,188   3,125 3,364  
Less: net loss attributable to NCI 0       0    
Net loss attributable to the company 2,056       3,125    
Preferred dividends 0   0   0 0  
Net income (loss) applicable to common stockholders 2,056   3,188   3,125 3,364  
Total assets 248,672   262,049   248,672 262,049  
Total liabilities 325,114   336,894   325,114 336,894  
Preferred stock 0   0   0 0  
Noncontrolling interest 0       0    
Equity (loss) attributable to common stockholders (76,442)   (74,845)   (76,442) (74,845)  
Additions to property and equipment (including finance leases)         2,428 2,989  
Operating Segments | Traditional Golf | Golf operations              
Revenues [Abstract]              
Total revenues 59,972   56,434   108,641 106,175  
Operating Segments | Traditional Golf | Sales of food and beverages              
Revenues [Abstract]              
Total revenues 10,796   5,856   16,744 8,984  
Operating Segments | Corporate              
Revenues [Abstract]              
Total revenues 208   0   393 0  
Operating costs              
Operating expenses (20)   2   45 2  
Cost of sales - food and beverages 0   0   0 0  
General and administrative expense 6,561   2,885   9,005 6,095  
General and administrative expense - acquisition and transaction expenses     0     4  
Depreciation and amortization 102   50   210 122  
Pre-opening costs 0   1   0 1  
(Gain) loss on lease terminations and impairment 0   0   0 3,187  
Total operating costs 6,643   2,938   9,260 9,411  
Operating income (loss) (6,435)   (2,938)   (8,867) (9,411)  
Other income (expenses)              
Interest and investment income 199   143   373 276  
Interest expense (417)   (325)   (757) (641)  
Capitalized interest 0   38     53  
Other income (loss), net 31   44   66 97  
Total other income (expenses) (187)   (100)   (318) (215)  
Income tax expense 858   450   1,547 945  
Net income (loss) (7,480)   (3,488)   (10,732) (10,571)  
Less: net loss attributable to NCI (134)       (81)    
Net loss attributable to the company (7,346)       (10,651)    
Preferred dividends (1,395)   (1,395)   (2,790) (2,790)  
Net income (loss) applicable to common stockholders (8,741)   (4,883)   (13,441) (13,361)  
Total assets 12,761   62,404   12,761 62,404  
Total liabilities 66,189   62,302   66,189 62,302  
Preferred stock 61,583   61,583   61,583 61,583  
Noncontrolling interest (514)       (514)    
Equity (loss) attributable to common stockholders (114,497)   (61,481)   (114,497) (61,481)  
Additions to property and equipment (including finance leases)         (86) 375  
Operating Segments | Corporate | Golf operations              
Revenues [Abstract]              
Total revenues 208   0   393 0  
Operating Segments | Corporate | Sales of food and beverages              
Revenues [Abstract]              
Total revenues $ 0   $ 0   $ 0 $ 0