Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING (Segment Reporting) (Details)

v3.8.0.1
SEGMENT REPORTING (Segment Reporting) (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Dec. 31, 2016
Revenues          
Golf course operations $ 62,034 $ 63,249 $ 168,969 $ 174,718  
Sales of food and beverages 19,657 19,913 53,223 55,086  
Total revenues 81,691 83,162 222,192 229,804  
Operating costs          
Operating expenses 67,385 69,251 187,730 195,670  
Cost of sales - food and beverages 5,721 6,026 15,762 17,139  
General and administrative expense 2,397 2,633 6,264 7,884  
General and administrative expense - acquisition and transaction expenses 1,931 1,055 4,851 2,464  
Management fee to affiliate 2,678 2,676 8,032 8,027  
Depreciation and amortization 6,187 6,735 17,952 19,250  
Impairment 28 611 60 3,564  
Realized and unrealized loss (gain) on investments (315) (6,605) 6,361 (3,136)  
Total operating costs 86,012 82,382 247,012 250,862  
Operating (loss) income (4,321) 780 (24,820) (21,058)  
Other income (expenses)          
Interest and investment income 8,418 32,310 22,701 73,770  
Interest expense, net (4,770) (13,138) (15,335) (39,089)  
Gain on deconsolidation 0 0 0 82,130  
Other (loss) income, net 202 505 372 1,339  
Total other income (expenses) 3,850 19,677 7,738 118,150  
Income tax (benefit) expense (2) (38) 1,047 144  
Net (Loss) Income (469) 20,495 (18,129) 96,948  
Preferred dividends (1,395) (1,395) (4,185) (4,185)  
Net income attributable to noncontrolling interest 0 (177) 0 (165)  
(Loss) Income Applicable to Common Stockholders (1,864) 18,923 (22,314) 92,598  
Total assets 536,115   536,115   $ 1,171,958
Total liabilities 339,807   339,807   953,891
Preferred stock 61,583   61,583   $ 61,583
Equity attributable to common stockholders 134,725   134,725    
Additions to property and equipment (including capital leases) during the nine months ended September 30, 2017     23,825    
Traditional Golf | Operating Segments          
Revenues          
Golf course operations 62,034 63,249 168,969 174,718  
Sales of food and beverages 19,657 19,913 53,223 55,086  
Total revenues 81,691 83,162 222,192 229,804  
Operating costs          
Operating expenses 67,244 69,251 187,539 195,670  
Cost of sales - food and beverages 5,721 6,026 15,762 17,139  
General and administrative expense 708 662 2,152 2,207  
General and administrative expense - acquisition and transaction expenses 72 173 558 1,182  
Management fee to affiliate 0 0 0 0  
Depreciation and amortization 6,171 6,735 17,936 19,250  
Impairment 0 0 0 0  
Realized and unrealized loss (gain) on investments 32 15 317 35  
Total operating costs 79,948 82,862 224,264 235,483  
Operating (loss) income 1,743 300 (2,072) (5,679)  
Other income (expenses)          
Interest and investment income 42 17 114 94  
Interest expense, net (3,830) (3,340) (11,500) (8,703)  
Gain on deconsolidation       0  
Other (loss) income, net (211) 0 (1,044) (272)  
Total other income (expenses) (3,999) (3,323) (12,430) (8,881)  
Income tax (benefit) expense 0 (38) 0 144  
Net (Loss) Income (2,256) (2,985) (14,502) (14,704)  
Preferred dividends 0 0 0 0  
Net income attributable to noncontrolling interest   (177)   (165)  
(Loss) Income Applicable to Common Stockholders (2,256) (3,162) (14,502) (14,869)  
Total assets 319,356   319,356    
Total liabilities 278,352   278,352    
Preferred stock 0   0    
Equity attributable to common stockholders 41,004   41,004    
Additions to property and equipment (including capital leases) during the nine months ended September 30, 2017     15,178    
Entertainment Golf | Operating Segments          
Revenues          
Golf course operations 0 0 0 0  
Sales of food and beverages 0 0 0 0  
Total revenues 0 0 0 0  
Operating costs          
Operating expenses 141 0 191 0  
Cost of sales - food and beverages 0 0 0 0  
General and administrative expense 60 3 203 5  
General and administrative expense - acquisition and transaction expenses 1,804 682 4,122 911  
Management fee to affiliate 0 0 0 0  
Depreciation and amortization 16 0 16 0  
Impairment 0 0 0 0  
Realized and unrealized loss (gain) on investments 0 0 0 0  
Total operating costs 2,021 685 4,532 916  
Operating (loss) income (2,021) (685) (4,532) (916)  
Other income (expenses)          
Interest and investment income 0 0 0 0  
Interest expense, net 0 0 0 0  
Gain on deconsolidation       0  
Other (loss) income, net 0 0 0 0  
Total other income (expenses) 0 0 0 0  
Income tax (benefit) expense 0 0 0 0  
Net (Loss) Income (2,021) (685) (4,532) (916)  
Preferred dividends 0 0 0 0  
Net income attributable to noncontrolling interest   0   0  
(Loss) Income Applicable to Common Stockholders (2,021) (685) (4,532) (916)  
Total assets 19,882   19,882    
Total liabilities 5,384   5,384    
Preferred stock 0   0    
Equity attributable to common stockholders 14,498   14,498    
Additions to property and equipment (including capital leases) during the nine months ended September 30, 2017     8,647    
Debt Investments | Operating Segments          
Revenues          
Golf course operations 0 0 0 0  
Sales of food and beverages 0 0 0 0  
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 10 32 10 70  
General and administrative expense - acquisition and transaction expenses 0 0 0 0  
Management fee to affiliate 0 0 0 0  
Depreciation and amortization 0 0 0 0  
Impairment 28 611 60 3,564  
Realized and unrealized loss (gain) on investments (347) (6,620) 6,044 (3,171)  
Total operating costs (309) (5,977) 6,114 463  
Operating (loss) income 309 5,977 (6,114) (463)  
Other income (expenses)          
Interest and investment income 8,085 32,286 22,137 73,661  
Interest expense, net (482) (9,405) (2,532) (28,482)  
Gain on deconsolidation       82,130  
Other (loss) income, net 413 505 1,416 1,611  
Total other income (expenses) 8,016 23,386 21,021 128,920  
Income tax (benefit) expense 0 0 0 0  
Net (Loss) Income 8,325 29,363 14,907 128,457  
Preferred dividends 0 0 0 0  
Net income attributable to noncontrolling interest   0   0  
(Loss) Income Applicable to Common Stockholders 8,325 29,363 14,907 128,457  
Total assets 23,514   23,514    
Total liabilities 170   170    
Preferred stock 0   0    
Equity attributable to common stockholders 23,344   23,344    
Additions to property and equipment (including capital leases) during the nine months ended September 30, 2017     0    
Corporate | Operating Segments          
Revenues          
Golf course operations 0 0 0 0  
Sales of food and beverages 0 0 0 0  
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 1,619 1,936 3,899 5,602  
General and administrative expense - acquisition and transaction expenses 55 200 171 371  
Management fee to affiliate 2,678 2,676 8,032 8,027  
Depreciation and amortization 0 0 0 0  
Impairment 0 0 0 0  
Realized and unrealized loss (gain) on investments 0 0 0 0  
Total operating costs 4,352 4,812 12,102 14,000  
Operating (loss) income (4,352) (4,812) (12,102) (14,000)  
Other income (expenses)          
Interest and investment income 291 7 450 15  
Interest expense, net (458) (393) (1,303) (1,904)  
Gain on deconsolidation       0  
Other (loss) income, net 0 0 0 0  
Total other income (expenses) (167) (386) (853) (1,889)  
Income tax (benefit) expense (2) 0 1,047 0  
Net (Loss) Income (4,517) (5,198) (14,002) (15,889)  
Preferred dividends (1,395) (1,395) (4,185) (4,185)  
Net income attributable to noncontrolling interest   0   0  
(Loss) Income Applicable to Common Stockholders (5,912) $ (6,593) (18,187) $ (20,074)  
Total assets 173,363   173,363    
Total liabilities 55,901   55,901    
Preferred stock 61,583   61,583    
Equity attributable to common stockholders $ 55,879   55,879    
Additions to property and equipment (including capital leases) during the nine months ended September 30, 2017     $ 0