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 6 Months Ended
Jun. 30, 2021
Mar. 31, 2021
Jun. 30, 2020
Mar. 31, 2020
Jun. 30, 2021
Jun. 30, 2020
Dec. 31, 2020
Revenues              
Revenues $ 73,879   $ 32,100   $ 134,971 $ 93,235  
Operating costs              
Operating expenses 55,635   33,224   104,504 87,591  
Cost of sales - food and beverages 3,151   829   5,255 4,484  
General and administrative expense 7,852   5,532   15,640 14,172  
General and administrative expense - acquisition and transaction expenses 176   836   372 2,014  
Depreciation and amortization 5,784   6,682   12,029 13,476  
Pre-opening costs 789   270   1,345 822  
(Gain) Loss on lease terminations and impairment (561)   (3,125)   2,648 (2,333)  
Total operating costs 72,826   44,248   141,793 120,226  
Operating income (loss) 1,053   (12,148)   (6,822) (26,991)  
Other income (expenses)              
Interest and investment income 159   135   312 265  
Interest expense (2,771)   (2,636)   (5,420) (5,414)  
Capitalized interest 58   45   81 78  
Other income (loss), net (18)   (24,422)   (79) (24,055)  
Total other income (expenses) (2,572)   (26,878)   (5,106) (29,126)  
Income tax expense 450   500   945 771  
Net loss (1,969) $ (10,904) (39,526) $ (17,362) (12,873) (56,888)  
Preferred dividends (1,395)   (1,395)   (2,790) (2,790)  
Loss applicable to common stockholders (3,364)   (40,921)   (15,663) (59,678)  
Total assets 495,839   457,073   495,839 457,073 $ 457,054
Total liabilities 446,329   448,405   446,329 448,405 447,017
Preferred stock 61,583   61,583   61,583 61,583 $ 61,583
Equity (12,073)   (52,915)   (12,073) (52,915)  
Additions to property and equipment (including finance leases)         14,267 7,702  
Severance expenses 0   0   100 700  
Accretion of membership deposit liabilities 2,100   1,900   4,100 3,600  
Golf operations              
Revenues              
Revenues 61,750   29,675   114,912 78,300  
Sales of food and beverages              
Revenues              
Revenues 12,129   2,425   20,059 14,935  
Operating Segments | Entertainment Golf              
Revenues              
Revenues 11,589   1,790   19,812 11,907  
Operating costs              
Operating expenses 5,546   2,629   10,679 10,801  
Cost of sales - food and beverages 1,445   294   2,530 1,904  
General and administrative expense 2,274   1,360   4,472 4,529  
General and administrative expense - acquisition and transaction expenses 176   831   368 865  
Depreciation and amortization 2,952   3,001   5,904 6,021  
Pre-opening costs 788   270   1,344 822  
(Gain) Loss on lease terminations and impairment 0       22 0  
Total operating costs 13,181   8,385   25,319 24,942  
Operating income (loss) (1,592)   (6,595)   (5,507) (13,035)  
Other income (expenses)              
Interest and investment income 0   0   0 1  
Interest expense (77)   (102)   (159) (207)  
Capitalized interest 0   0   0 0  
Other income (loss), net 0   0   0 0  
Total other income (expenses) (77)   (102)   (159) (206)  
Income tax expense 0   0   0 0  
Net loss (1,669)   (6,697)   (5,666) (13,241)  
Preferred dividends 0   0   0 0  
Loss applicable to common stockholders (1,669)   (6,697)   (5,666) (13,241)  
Total assets 171,386   158,187   171,386 158,187  
Total liabilities 47,133   41,997   47,133 41,997  
Preferred stock 0   0   0 0  
Equity 124,253   116,190   124,253 116,190  
Additions to property and equipment (including finance leases)         10,903 4,297  
Operating Segments | Entertainment Golf | Golf operations              
Revenues              
Revenues 5,316   762   8,737 4,672  
Operating Segments | Entertainment Golf | Sales of food and beverages              
Revenues              
Revenues 6,273   1,028   11,075 7,235  
Operating Segments | Traditional Golf              
Revenues              
Revenues 62,290   30,310   115,159 81,328  
Operating costs              
Operating expenses 50,087   30,595   93,823 76,790  
Cost of sales - food and beverages 1,706   535   2,725 2,580  
General and administrative expense 2,693   2,189   5,073 5,282  
General and administrative expense - acquisition and transaction expenses 0   33   0 155  
Depreciation and amortization 2,782   3,608   6,003 7,311  
Pre-opening costs 0   0   0 0  
(Gain) Loss on lease terminations and impairment (561)       (561) (2,333)  
Total operating costs 56,707   33,835   107,063 89,785  
Operating income (loss) 5,583   (3,525)   8,096 (8,457)  
Other income (expenses)              
Interest and investment income 16   23   36 38  
Interest expense (2,369)   (2,098)   (4,620) (4,245)  
Capitalized interest 20   13   28 22  
Other income (loss), net (62)   (120)   (176) (166)  
Total other income (expenses) (2,395)   (2,182)   (4,732) (4,351)  
Income tax expense 0   0   0 0  
Net loss 3,188   (5,707)   3,364 (12,808)  
Preferred dividends 0   0   0 0  
Loss applicable to common stockholders 3,188   (5,707)   3,364 (12,808)  
Total assets 262,049   284,874   262,049 284,874  
Total liabilities 336,894   343,136   336,894 343,136  
Preferred stock 0   0   0 0  
Equity (74,845)   (58,262)   (74,845) (58,262)  
Additions to property and equipment (including finance leases)         2,989 2,982  
Operating Segments | Traditional Golf | Golf operations              
Revenues              
Revenues 56,434   28,913   106,175 73,628  
Operating Segments | Traditional Golf | Sales of food and beverages              
Revenues              
Revenues 5,856   1,397   8,984 7,700  
Operating Segments | Corporate              
Revenues              
Revenues 0   0   0 0  
Operating costs              
Operating expenses 2   0   2 0  
Cost of sales - food and beverages 0   0   0 0  
General and administrative expense 2,885   1,983   6,095 4,361  
General and administrative expense - acquisition and transaction expenses 0   (28)   4 994  
Depreciation and amortization 50   73   122 144  
Pre-opening costs 1   0   1 0  
(Gain) Loss on lease terminations and impairment 0       3,187 0  
Total operating costs 2,938   2,028   9,411 5,499  
Operating income (loss) (2,938)   (2,028)   (9,411) (5,499)  
Other income (expenses)              
Interest and investment income 143   112   276 226  
Interest expense (325)   (436)   (641) (962)  
Capitalized interest 38   32   53 56  
Other income (loss), net 44   (24,302)   97 (23,889)  
Total other income (expenses) (100)   (24,594)   (215) (24,569)  
Income tax expense 450   500   945 771  
Net loss (3,488)   (27,122)   (10,571) (30,839)  
Preferred dividends (1,395)   (1,395)   (2,790) (2,790)  
Loss applicable to common stockholders (4,883)   (28,517)   (13,361) (33,629)  
Total assets 62,404   14,012   62,404 14,012  
Total liabilities 62,302   63,272   62,302 63,272  
Preferred stock 61,583   61,583   61,583 61,583  
Equity (61,481)   (110,843)   (61,481) (110,843)  
Additions to property and equipment (including finance leases)         375 423  
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