Full House Resorts (FLL) 10-Q 8 Nov 23 2023 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2023	Nov. 06, 2023
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	1-32583
Entity Registrant Name	FULL HOUSE RESORTS INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-3391527
Entity Address, Address Line One	One Summerlin, 1980 Festival Plaza Drive, Suite 680
Entity Address, City or Town	Las Vegas
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89135
City Area Code	702
Local Phone Number	221-7800
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	FLL
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		34,587,350
Entity Central Index Key	0000891482
Current Fiscal Year End Date	--12-31
Document Fiscal Year End	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenues
Net revenues	$ 71,543	$ 41,393	$ 181,031	$ 127,199
Operating costs and expenses
Selling, general and administrative	22,017	15,218	61,823	44,795
Project development costs, net	21	(149)	45	33
Preopening costs	1,051	2,594	12,634	4,914
Depreciation and amortization	8,468	2,386	22,482	6,012
Loss on disposal of assets	7		7	3
Total operating costs and expenses	61,186	38,998	177,066	111,282
Operating income	10,357	2,395	3,965	15,917
Other (expense) income
Interest expense, net	(5,867)	(5,838)	(16,319)	(19,225)
Loss on modification of debt		(105)	0	(4,530)
Gain on settlements	29		384	0
Total other expense	(5,838)	(5,943)	(15,935)	(23,755)
Income (loss) before income taxes	4,519	(3,548)	(11,970)	(7,838)
Income tax (benefit) provision	(74)	29	452	(16)
Net income	$ 4,593	$ (3,577)	$ (12,422)	$ (7,822)
Basic earnings (loss) per share (in dollars per share)	$ 0.13	$ (0.10)	$ (0.36)	$ (0.23)
Diluted earnings (loss) per share (in dollars per share)	$ 0.13	$ (0.10)	$ (0.36)	$ (0.23)
Casino
Revenues
Net revenues	$ 50,240	$ 29,721	$ 131,586	$ 88,293
Operating costs and expenses
Costs and expenses	19,437	10,292	49,771	30,273
Food and beverage
Revenues
Net revenues	9,086	6,811	25,419	20,255
Operating costs and expenses
Costs and expenses	8,330	6,814	24,815	20,134
Hotel
Revenues
Net revenues	2,560	2,490	7,052	7,076
Operating costs and expenses
Costs and expenses	1,164	1,256	3,611	3,524
Other operations, including contracted sports wagering
Revenues
Net revenues	9,657	2,371	16,974	11,575
Operating costs and expenses
Costs and expenses	$ 691	$ 587	$ 1,878	$ 1,594

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets
Cash and equivalents	$ 25,945	$ 56,589
Restricted cash	58,047	134,587
Accounts receivable, net of reserves of $236 and $249	8,272	4,082
Inventories	1,736	1,479
Prepaid expenses and other	6,570	6,184
Total current assets	100,570	202,921
Other long-term assets
Property and equipment, net	432,719	339,057
Operating lease right-of-use assets, net	45,480	15,771
Finance lease right-of-use assets, net	2,661	3,808
Goodwill	21,286	21,286
Other intangible assets, net	61,097	10,869
Deposits and other	1,291	1,617
Total Assets	665,104	595,329
Current liabilities
Accounts payable	5,861	4,602
Construction payable	23,007	30,279
Accrued payroll and related	4,190	3,784
Accrued interest	4,758	12,966
Other accrued expenses and current liabilities	13,603	9,964
Current portion of operating lease obligations	4,141	2,485
Current portion of finance lease obligation	1,659	1,581
Total current liabilities	57,219	65,661
Operating lease obligations, net of current portion	41,627	13,418
Finance lease obligations, net of current portion	3,141	4,727
Long-term debt, net	464,401	401,852
Deferred income taxes, net	1,476	1,024
Contract liabilities, net of current portion	6,432	8,856
Other long-term liabilities, net of current portion	1,235
Total liabilities	575,531	495,538
Commitments and contingencies (Note 6)
Stockholders' equity
Common stock, $0.0001 par value, 100,000,000 shares authorized; 35,302,549 and 35,302,549 shares issued and 34,587,350 and 34,407,654 shares outstanding	4	4
Additional paid-in capital	112,575	110,590
Treasury stock, 715,199 and 894,895 common shares	(872)	(1,091)
Accumulated deficit	(22,134)	(9,712)
Total stockholders' equity	89,573	99,791
Total liabilities and stockholders' equity	$ 665,104	$ 595,329

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parentheticals) - $ / shares	Sep. 30, 2023	Dec. 31, 2022
CONSOLIDATED BALANCE SHEETS (Unaudited)
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	35,302,549	35,302,549
Common stock, shares outstanding (in shares)	34,587,350	34,407,654
Treasury stock, common shares (in shares)	715,199	894,895

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Common Stock	Additional Paid-in Capital	Treasury Stock, Common [Member]	Retained Earnings (Accumulated Deficit)	Total
Balance at Dec. 31, 2021	$ 4	$ 108,911	$ (1,292)	$ 5,092	$ 112,715
Balance (in shares) at Dec. 31, 2021	35,302		1,060
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Options exercised and restricted stocks vested		14	$ 125		139
Options exercised and restricted stocks vested (in shares)			(103)
Stock-based compensation		343			343
Net (loss) income				110	110
Balance at Mar. 31, 2022	$ 4	109,268	$ (1,167)	5,202	113,307
Balance (in shares) at Mar. 31, 2022	35,302		957
Balance at Dec. 31, 2021	$ 4	108,911	$ (1,292)	5,092	112,715
Balance (in shares) at Dec. 31, 2021	35,302		1,060
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income					(7,822)
Balance at Sep. 30, 2022	$ 4	110,249	$ (1,102)	(2,730)	106,421
Balance (in shares) at Sep. 30, 2022	35,302		903
Balance at Mar. 31, 2022	$ 4	109,268	$ (1,167)	5,202	113,307
Balance (in shares) at Mar. 31, 2022	35,302		957
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stocks vested		(47)	$ 47
Restricted stocks vested, (in shares)			(39)
Stock-based compensation		487			487
Net (loss) income				(4,355)	(4,355)
Balance at Jun. 30, 2022	$ 4	109,708	$ (1,120)	847	109,439
Balance (in shares) at Jun. 30, 2022	35,302		918
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Options exercised		9	$ 18		27
Options exercised (in shares)			(15)
Stock-based compensation		532			532
Net (loss) income				(3,577)	(3,577)
Balance at Sep. 30, 2022	$ 4	110,249	$ (1,102)	(2,730)	106,421
Balance (in shares) at Sep. 30, 2022	35,302		903
Balance at Dec. 31, 2022	$ 4	110,590	$ (1,091)	(9,712)	99,791
Balance (in shares) at Dec. 31, 2022	35,302		895
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Options exercised		12	$ 5		17
Options exercised (in shares)			(4)
Stock-based compensation		748			748
Net (loss) income				(11,415)	(11,415)
Balance at Mar. 31, 2023	$ 4	111,350	$ (1,086)	(21,127)	89,141
Balance (in shares) at Mar. 31, 2023	35,302		891
Balance at Dec. 31, 2022	$ 4	110,590	$ (1,091)	(9,712)	99,791
Balance (in shares) at Dec. 31, 2022	35,302		895
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income					(12,422)
Balance at Sep. 30, 2023	$ 4	112,575	$ (872)	(22,134)	89,573
Balance (in shares) at Sep. 30, 2023	35,302		715
Balance at Mar. 31, 2023	$ 4	111,350	$ (1,086)	(21,127)	89,141
Balance (in shares) at Mar. 31, 2023	35,302		891
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Options exercised and restricted stocks vested		(65)	$ 202		137
Options exercised and restricted stocks vested (in shares)			(166)
Stock-based compensation		655			655
Net (loss) income				(5,600)	(5,600)
Balance at Jun. 30, 2023	$ 4	111,940	$ (884)	(26,727)	84,333
Balance (in shares) at Jun. 30, 2023	35,302		725
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stocks vested		(91)	$ 12		(79)
Restricted stocks vested, (in shares)			(10)
Stock-based compensation		726			726
Net (loss) income				4,593	4,593
Balance at Sep. 30, 2023	$ 4	$ 112,575	$ (872)	$ (22,134)	$ 89,573
Balance (in shares) at Sep. 30, 2023	35,302		715

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net loss	$ (12,422)	$ (7,822)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization	22,482	6,012
Amortization of debt issuance costs, discounts and premiums	2,042	1,227
Non-cash change in ROU operating lease assets	2,810	2,506
Stock-based compensation	2,129	1,362
Loss on disposal of assets	7	3
Gain on settlement	(384)	0
Loss on modification of debt	0	4,530
Other operating activities	437	0
Deferred income taxes	452	(16)
Increases and decreases in operating assets and liabilities:
Accounts receivable	(4,190)	1,887
Prepaid expenses, inventories and other	(643)	(2,784)
Operating lease liabilities	(2,654)	(2,626)
Contract liabilities	(1,611)	2,635
Accounts payable and other liabilities	(5,248)	(6,874)
Net cash (used in) provided by operating activities	3,207	40
Cash flows from investing activities:
Capital expenditures	(119,898)	(116,148)
Proceeds from insurance settlement related to property damage	355	0
Acquisition of intangible assets	(50,251)	0
Other	0	(1,086)
Net cash used in investing activities	(169,794)	(117,234)
Cash flows from financing activities:
Proceeds from Senior Secured Notes due 2028 borrowings	40,000	100,000
Proceeds from premium on Senior Secured Notes due 2028 borrowings	0	2,000
Payment of debt discount and issuance costs	(6,494)	(7,945)
Borrowings under revolving credit facility	42,950	0
Repayment of revolving credit facility borrowings	(15,950)	0
Repayment of finance lease obligations	(1,159)	(383)
Proceeds from exercise of stock options	75	166
Other	(19)	(108)
Net cash provided by financing activities	59,403	93,730
Net decrease in cash, cash equivalents and restricted cash	(107,184)	(23,464)
Cash, cash equivalents and restricted cash, beginning of period	191,176	265,293
Cash, cash equivalents and restricted cash, end of period	83,992	241,829
Supplemental Cash Flow Disclosure:
Cash paid for interest, net of amounts capitalized	25,539	27,726
Supplemental Schedule of Non-Cash Investing and Financing Activities:
Accounts payable related capital expenditures	23,065	17,312
Note payable incurred for asset acquisition	1,500
Right-of-use assets obtained in exchange for operating lease liabilities	30,178	475
Operating lease right-of-use asset and liability remeasurements	2,341	$ 1,773
Financing leases Right-of-use asset and liability remeasurements	$ (151)

ORGANIZATION

ORGANIZATION	9 Months Ended
	Sep. 30, 2023
ORGANIZATION
ORGANIZATION	1. ORGANIZATION Organization. The Company currently operates six casinos: five on real estate that we own or lease and one located within a hotel owned by a third party. We are currently constructing our seventh property, Chamonix Casino Hotel (“Chamonix”), adjacent to our existing Bronco Billy’s Casino and Hotel in Cripple Creek, Colorado. We are also designing our permanent American Place casino destination, which will be built adjacent to a temporary facility that we opened in February 2023, named The Temporary by American Place (“The Temporary”). Additionally, we benefit from seven permitted sports wagering “skins” – three in Colorado, three in Indiana, and one in Illinois. Other companies operate or will operate these online sports wagering websites under their brands, paying us a percentage of revenues, as defined, subject to annual minimum amounts. ​ Starting in the first quarter of 2023, the Company updated its reportable segments to Midwest & South, West, and Contracted Sports Wagering. This change reflects a realignment within the Company as a result of our continued growth. See Note 9 The following table presents selected information concerning our segments: ​ ​ ​ ​ Segments and Properties ​ Locations Midwest & South ​ ​ The Temporary by American Place (opened on February 17, 2023) ​ Waukegan, IL Silver Slipper Casino and Hotel Hancock County, MS (near New Orleans) Rising Star Casino Resort Rising Sun, IN (near Cincinnati) West ​ ​ Bronco Billy’s Casino and Hotel Cripple Creek, CO (near Colorado Springs) Chamonix Casino Hotel (scheduled to open on December 26, 2023) ​ Cripple Creek, CO (near Colorado Springs) Grand Lodge Casino Incline Village, NV Stockman’s Casino Fallon, NV (one hour east of Reno) Contracted Sports Wagering ​ ​ Three sports wagering websites (“skins”), one of which is currently idle ​ Colorado Three sports wagering websites (“skins”), two of which are currently idle ​ Indiana One sports wagering website (“skin”), commenced in August 2023 ​ Illinois ​ ​ ​

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2023
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation. The interim consolidated financial statements of the Company included herein reflect all adjustments (consisting of normal recurring adjustments) that are, in the opinion of management, necessary to present fairly the financial position and results of operations for the interim periods presented. The results of operations for the interim periods are not necessarily indicative of annualized results for an entire year. The consolidated financial statements include the accounts of Full House and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Fair Value and the Fair Value Input Hierarchy. GAAP categorizes the inputs used for fair value into a three-level hierarchy: ● Level 1: Observable inputs, such as quoted prices in active markets for identical assets or liabilities; ● Level 2: Comparable inputs other than quoted prices that are observable for similar assets or liabilities in less active markets; and ● Level 3: Unobservable inputs which may include metrics that market participants would use to estimate values, such as revenue and earnings multiples and relative rates of return. Methods and assumptions used to estimate the fair value of financial instruments are affected by the duration of the instruments and other factors used by market participants to estimate value. The carrying amounts for cash and equivalents, restricted cash, accounts receivable, and accounts payable approximate their estimated fair value because of the short durations of the instruments and inconsequential rates of interest. Cash Equivalents and Restricted Cash. Restricted cash balances consist of funds placed into a construction reserve, interest-bearing account to fund the completion of the Chamonix construction project, in accordance with the Company’s debt covenants. Accounts Receivable. ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ September 30, ​ December 31, ​ ​ 2023 2022 Accounts receivable ​ $ 8,508 ​ $ 4,331 Less: Reserves ​ ​ (236) ​ ​ (249) ​ ​ $ 8,272 ​ $ 4,082 ​ At September 30, 2023, the balance in accounts receivables includes $3.6 million in connection with two online sports wagering agreements that ceased operations in September 2023. We received all of such amount in October 2023. Management believes that, as of September 30, 2023, no significant concentrations of credit risk existed for which a reserve had not already been recorded. Other Intangible Assets. In March 2023, the Company paid $50.3 million to the Illinois Gaming Board (“IGB”) for required gaming license fees to operate The Temporary, and upon its opening, American Place. Management has deemed the gaming license in Illinois as having an indefinite economic life, as such license is eligible for renewal every four years if all regulatory requirements are met. There may be an additional one-time reconciliation fee, depending on interim gaming revenues, which is calculated three years after commencing operations and can be paid over a six-year period. See Note 6 for details. Revenue Recognition: Accrued Club Points and Customer Loyalty Programs: Operating Revenues and Related Costs and Expenses. The transaction price for a casino wager is the difference between gaming wins and losses, not the total amount wagered. As such wagers have similar characteristics, the Company accounts for its gaming transactions on a portfolio basis by recognizing net win per gaming day versus on an individual basis. The Company sometimes provides discretionary complimentary goods and services (“discretionary comps”). For these types of transactions, the Company allocates revenue to the department providing the complimentary goods or services based upon its estimated standalone selling price, offset by a reduction in casino revenues. Many of the Company’s casino customers choose to earn points under its customer loyalty programs. As points are accrued, the Company defers a portion of its casino revenue based on the estimated standalone value of loyalty points being earned by the customer. The standalone value of loyalty points is derived from the retail value of food, beverages, hotel rooms, and other goods or services for which such points may be redeemed. A liability related to these customer loyalty points is recorded, net of estimated breakage and other factors, until the customer redeems these points for various loyalty program benefits, primarily for “free casino play,” complimentary dining, or hotel stays, among others, depending on each property’s specific offers. Upon redemption, the related revenue is recognized at retail value within the department providing the goods or services. Unredeemed points are forfeited if the customer becomes and remains inactive for a specified period of time. Such liabilities were approximately $0.8 million for September 30, 2023 and $0.7 million for December 31, 2022, and these amounts are included in “other accrued expenses and current liabilities” on the consolidated balance sheets. Revenue for food and beverage, hotel, and other revenue transactions is typically the net amount collected from customers for such goods and services, plus the retail value of (i) discretionary comps and (ii) comps provided in return for redemption of loyalty points. The Company records such revenue as the good or service is transferred to the customer. Additionally, the Company may collect deposits in advance for future hotel reservations or entertainment, among other services, which represent obligations of the Company until the service is provided to the customer. Deferred Revenues: Market Access Fees from Sports Wagering Agreements. Indiana. Colorado. Illinois. In addition to the “market access” fees, deferred revenue includes quarterly and annual prepayments of contracted revenue, as required in four of the Sports Agreements. As of September 30, 2023, $3.4 million of such deferred revenue has been recognized during the year. Deferred revenues consisted of the following, as discussed above: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ ​ ​ September 30, ​ December 31, ​ Balance Sheet Location ​ 2023 2022 Deferred revenue, current ​ Other accrued expenses and current liabilities ​ $ 2,435 ​ $ 1,651 Deferred revenue, net of current portion ​ Contract liabilities, net of current portion ​ ​ 6,432 ​ ​ 8,856 ​ ​ ​ ​ $ 8,867 ​ $ 10,507 ​ Other Revenues. Revenue by Source. Note 9 Income Taxes. Reclassifications. Earnings (Loss) Per Share. Leases. For material leases with terms greater than a year, the Company records right-of-use (“ROU”) assets and lease liabilities on the balance sheet, as measured on a discounted basis. For finance leases, the Company recognizes interest expense associated with the lease liability, as well as depreciation (or amortization) expense associated with the ROU asset, depending on whether those ROU assets are expected to transfer to the Company upon lease expiration. If ownership of a finance lease ROU asset is expected to transfer to the Company upon lease expiration, then it is included with the Company’s property and equipment; other qualifying finance lease ROU assets, based on other classifying criteria under Accounting Standards Codification 842 (“ASC 842”), are disclosed separately as “Finance Lease Right-of-Use Assets, Net.” For operating leases, the Company recognizes straight-line rent expense. The Company does not recognize ROU assets or lease liabilities for leases with a term of 12 months or less. However, costs related to short-term leases with terms greater than one month, which the Company deems material, are disclosed as a component of lease expenses when applicable. Additionally, the Company accounts for new and existing leases containing both lease and non-lease components (“embedded leases”) together as a single lease component Finance and operating lease ROU assets and liabilities are recognized based on the present value of future minimum lease payments over the expected lease term at commencement, plus any qualifying initial direct costs paid prior to commencement for ROU assets. As the implicit rate is not determinable in most of the Company’s leases, management uses the Company’s incremental borrowing rate as estimated by third-party valuation specialists in determining the present value of future payments based on the information available at the commencement date and/or modification date. The expected lease terms include options to extend or terminate the lease when it is reasonably certain that the Company will exercise such options. Lease expense for minimum lease payments is recognized on a straight-line basis over the expected lease term for operating leases. For finance leases, the ROU asset depreciates/amortizes on a straight-line basis over the shorter of the lease term or useful life of the ROU asset as applicable, and the lease liability accretes interest based on the interest method using the discount rate determined at lease commencement. ​ Preopening costs. ​ Debt Issuance Costs and Debt Discounts/Premiums. ​ Recently Issued Accounting Pronouncements Not Yet Adopted.

LEASES

LEASES	9 Months Ended
	Sep. 30, 2023
LEASES
LEASES	3. LEASES The Company has no material leases in which it is the lessor. As lessee, the Company has finance leases for a hotel and certain equipment and operating leases for land, casino and office space, equipment, and buildings. The Company’s remaining lease terms, including extensions, range from one month to approximately 99 years. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants, but the land leases at Silver Slipper and The Temporary/American Place do include contingent rent, as further discussed below. Operating Leases Waukegan Ground Lease through February 2122 and Option to Purchase. The Company has the right to purchase the City-Owned Parcel at any time during the term of the Ground Lease for $30 million. If it does so prior to the opening of the permanent American Place facility, then it must continue to pay rent due to the City under the Ground Lease until the permanent casino is open. Silver Slipper Casino Land Lease through April 2058 and Option to Purchase. Through October 1, 2027, the Company may buy out the lease for $15.5 million, plus a seller-retained interest in Silver Slipper Casino and Hotel’s operations of 3% of net income (as defined) for 10 years following the purchase date. Bronco Billy’s / Chamonix Lease through January 2035 and Option to Purchase. three-year Grand Lodge Casino Lease through December 2024. Note 4 The current annual rent of $2.0 million is applicable through the remaining lease term. In February 2023, the lease was amended to extend the current term through December 31, 2024 (with no changes to rent). Accordingly, the Company remeasured this lease’s related ROU asset and liability balances on its balance sheet upon the effective date of the amendment. Corporate Office Lease through January 2025. Finance Lease Rising Star Casino Hotel Lease through October 2027 and Option to Purchase. ​ The components of lease expenses are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Three Months Ended Nine Months Ended ​ ​ Classification within ​ September 30, ​ September 30, Lease Costs ​ Statement of Operations ​ 2023 2022 ​ 2023 2022 Operating leases: ​ ​ ​ ​ ​ ​ Fixed/base rent Selling, General and Administrative Expenses ​ $ 2,008 ​ $ 1,206 ​ $ 5,970 ​ $ 3,549 Short-term payments ​ Selling, General and Administrative Expenses ​ ​ — ​ ​ 33 ​ ​ 22 ​ ​ 103 Variable payments Selling, General and Administrative Expenses ​ 281 ​ 314 ​ 935 ​ 1,069 Finance leases: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization of leased assets Depreciation and Amortization ​ 412 ​ 39 ​ 1,113 ​ 118 Interest on lease liabilities Interest Expense, Net ​ 89 ​ 34 ​ 309 ​ 106 Total lease costs ​ ​ ​ $ 2,790 ​ $ 1,626 ​ $ 8,349 ​ $ 4,945 ​ ​ Leases recorded on the balance sheet consist of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, Leases Balance Sheet Classification 2023 ​ 2022 Assets ​ ​ ​ ​ Operating lease assets Operating Lease Right-of-Use Assets, Net $ 45,480 ​ $ 15,771 Finance lease assets Property and Equipment, Net (1) ​ 4,448 ​ 4,566 Finance lease assets ​ Finance Lease Right-of-Use Assets, Net (2) ​ ​ 2,661 ​ ​ 3,808 Total lease assets ​ $ 52,589 ​ $ 24,145 ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ Current ​ ​ ​ ​ ​ ​ Operating Current Portion of Operating Lease Obligations ​ $ 4,141 ​ $ 2,485 Finance Current Portion of Finance Lease Obligations ​ 1,659 ​ 1,581 Noncurrent ​ ​ ​ ​ ​ ​ Operating Operating Lease Obligations, Net of Current Portion ​ 41,627 ​ 13,418 Finance Finance Lease Obligations, Net of Current Portion ​ 3,141 ​ 4,727 Total lease liabilities ​ $ 50,568 ​ $ 22,211 __________ (1) Finance lease assets are recorded net of accumulated amortization of $2.7 million (after the effects of $0.6 million in disposals) for September 30, 2023 and $3.2 million for December 31, 2022. (2) These finance lease assets are recorded separately from Property and Equipment due to meeting qualifying classification criteria under ASC 842, but ownership of such assets is not expected to transfer to the Company upon term expiration. Additionally, amortization of these assets are expensed over the duration of the lease term or the assets’ estimated useful lives, whichever is earlier. ​ Maturities of lease liabilities as of September 30, 2023 are summarized as follows: ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ ​ ​ ​ ​ ​ ​ Operating Finance Years Ending December 31, ​ Leases ​ Leases 2023 (excluding the nine months ended September 30, 2023) ​ $ 1,923 ​ $ 489 2024 ​ 7,735 ​ 1,957 2025 ​ 5,722 ​ 1,721 2026 ​ 4,864 ​ 652 2027 ​ 4,515 ​ 489 Thereafter ​ 316,582 ​ — Total future minimum lease payments ​ 341,341 ​ 5,308 Less: Amount representing interest ​ (295,573) ​ (508) Present value of lease liabilities ​ 45,768 ​ 4,800 Less: Current lease obligations ​ (4,141) ​ (1,659) Long-term lease obligations ​ $ 41,627 ​ $ 3,141 ​ Other information related to lease term and discount rate is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, Lease Term and Discount Rate ​ 2023 ​ 2022 Weighted-average remaining lease term ​ ​ ​ Operating leases 67.1 years ​ 23.2 years Finance leases 3.0 years ​ 3.7 years Weighted-average discount rate ​ ​ ​ ​ ​ Operating leases 10.90 % ​ 9.73 % Finance leases 7.56 % ​ 7.08 % ​ Supplemental cash flow information related to leases is as follows: ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) Nine Months Ended ​ ​ September 30, Cash paid for amounts included in the measurement of lease liabilities: ​ 2023 ​ 2022 Operating cash flows for operating leases ​ $ 5,813 ​ $ 3,670 Operating cash flows for finance leases ​ $ 309 ​ $ 106 Financing cash flows for finance leases ​ $ 1,159 ​ $ 383 ​

LONG-TERM DEBT

LONG-TERM DEBT	9 Months Ended
	Sep. 30, 2023
LONG-TERM DEBT.
LONG-TERM DEBT	4 . LONG-TERM DEBT Long-term debt consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ September 30, ​ December 31, ​ ​ 2023 ​ 2022 Revolving Credit Facility due 2026 ​ $ 27,000 ​ $ — 8.25% Senior Secured Notes due 2028 ​ ​ 450,000 ​ ​ 410,000 Less: Unamortized debt issuance costs and discounts/premiums, net ​ ​ (12,599) ​ ​ (8,148) ​ ​ $ 464,401 ​ $ 401,852 ​ Senior Secured Notes due 2028. ​ On February 7, 2022, the Company closed a private offering for an additional $100.0 million of Senior Secured Notes due 2028, which sold at a price of 102.0% of such principal amount. Proceeds from this sale were used: (i) to develop, equip and open The Temporary, which the Company intends to operate while it designs and constructs its permanent American Place facility, (ii) to pay the transaction fees and expenses of such offer and sale, and (iii) for general corporate purposes. The additional notes from this sale were issued pursuant to the indenture, dated as of February 12, 2021 (the “Original Indenture”), to which the Company issued the $310.0 million of 2028 Notes described above. In connection with the issuance of the additional notes in February 2022, the Company and the subsidiary guarantors party to the Original Indenture also entered into three Supplemental Indentures with Wilmington Trust, National Association, as trustee. On February 21, 2023, the Company issued an additional $40.0 million of senior secured notes (the “Additional Notes”), thereby increasing the outstanding borrowing under the 2028 Notes to $450.0 million (collectively, the “Notes”). Related to the issuance of the Additional Notes, the Company further amended the indenture governing the Notes (collectively, the “Amended Indenture”) and amended its revolving credit facility. Proceeds from the offering of the Additional Notes, net of related expenses and discounts, were approximately $34 million and were used: (i) to open The Temporary, including the payment of related Illinois gaming license fees in March 2023, and (ii) for general corporate purposes. The Additional Notes are essentially identical to the 2028 Notes, as they are treated as a single series of senior secured debt securities with the 2028 Notes and also as a single class for all purposes under the Amended Indenture, including, without limitation, waivers, amendments, redemptions and offers to purchase. The Notes bear interest at a fixed rate of 8.25% per year and mature on February 15, 2028. There is no mandatory debt amortization prior to the maturity date. Interest on the Notes is payable on February 15 and August 15 of each year. The Notes are guaranteed, jointly and severally (such guarantees, the “Guarantees”), by each of the Company’s restricted subsidiaries (collectively, the “Guarantors”). The Notes and the Guarantees are the Company’s and the Guarantors’ general senior secured obligations, subject to the terms of the Collateral Trust Agreement (as defined in the Amended Indenture), ranking senior in right of payment to all of the Company’s and the Guarantors’ existing and future debt that is expressly subordinated in right of payment to the Notes and the Guarantees, if any. The Notes and the Guarantees will rank equally in right of payment with all of the Company’s and the Guarantors’ existing and future senior debt. The Notes contain representations and warranties, covenants, and restrictions on dividends customary for notes of this type. Mandatory prepayments, in whole or in part, of the Notes will be required upon the occurrence of certain events, including sales of certain assets (unless such net proceeds are reinvested in the business), upon certain changes of control, or should the Company have certain unused funds in the construction disbursement account following the completion of Chamonix. On or prior to February 15, 2024, the Company may redeem up to 35% of the original principal amount of the Notes with proceeds of certain equity offerings at a redemption price of 108.25%, plus accrued and unpaid interest to the redemption date. In addition, the Company may redeem some or all of the Notes prior to February 15, 2024 at a redemption price of 100% of the principal amount of the Notes, plus accrued and unpaid interest to the redemption date and a “make-whole” premium. At any time on or after February 15, 2024, the Company may redeem some or all of the Notes for cash at the following redemption prices: ​ ​ ​ ​ Redemption Periods Percentage Premium February 15, 2024 to February 14, 2025 104.125 % February 15, 2025 to February 14, 2026 102.063 % February 15, 2026 and Thereafter ​ 100.000 % ​ ​ Revolving Credit Facility due 2026. On February 21, 2023, the Company entered into a Second Amendment to Credit Agreement with Capital One, which, among other things, increased the amount of additional indebtedness permitted under the Company’s Credit Agreement from $25.0 million to $40.0 million (collectively, the “Credit Facility”). Such amendment permitted the issuance of the Additional Notes, as described above. The interest rate per annum applicable to loans under the Credit Facility is currently, at the Company’s option, either (i) the Secured Overnight Financing Rate (“SOFR”) plus a margin equal to 3.50% and a Term SOFR adjustment of 0.15%, or (ii) a base rate plus a margin equal to 2.50%. Upon completion of Chamonix (as defined in the agreement), the interest rate per annum applicable to loans under the Credit Facility will be reduced to, at the Company’s option, either (i) SOFR plus a margin equal to 3.00% and a Term SOFR adjustment of 0.15%, or (ii) a base rate plus a margin equal to 2.00%. The Credit Facility is equally and ratably secured by the same assets and guarantees securing the Notes. The Company may make prepayments of any amounts outstanding under the Credit Facility (without any reduction of the revolving commitments) in whole or in part at any time without penalty. The Credit Facility contains a number of negative covenants that, subject to certain exceptions, are substantially similar to the covenants contained in the Notes. The Credit Facility also requires compliance with a financial covenant as of the last day of each fiscal quarter, such that Adjusted EBITDA (as defined) for the trailing 12-month period must equal or exceed the utilized portion of the Credit Facility, if drawn. As of September 30, 2023, the Company was in compliance with this financial covenant and $27.0 million of borrowings remain outstanding under the Credit Facility. Fair Value of Long-Term Debt.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2023
INCOME TAXES
INCOME TAXES	5. INCOME TAXES The Company’s effective income tax rates for the three and nine months ended September 30, 2023 were (1.6%) and (3.8%), respectively, compared to effective income tax rates of (0.8%) and 0.2% for the corresponding prior-year periods. The changes in the effective income tax rates were primarily due to the Company’s projections for pre-tax book income in 2023, the effects of tax amortization on indefinite-lived intangibles in 2023, valuation allowances, and certain permanent differences between tax and financial reporting purposes. The Company’s income tax provision or benefit for interim periods has been determined using an estimate of its annual effective tax rate (“AETR”), adjusted for discrete items. ​ The Company continues to assess the realizability of deferred tax assets (“DTAs”) and concluded that it has not met the “more likely than not” threshold. As of September 30, 2023, the Company continues to provide a valuation allowance against its DTAs that cannot be offset by existing deferred tax liabilities. In accordance with Accounting Standards Codification 740 (“ASC 740”), this assessment has taken into consideration the jurisdictions in which these DTAs reside. ​ ​

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2023
COMMITMENTS AND CONTINGENCIES.
COMMITMENTS AND CONTINGENCIES.	6. COMMITMENTS AND CONTINGENCIES Litigation The Company is party to a number of pending legal proceedings related to matters that occurred in the normal course of business. Management does not expect that the outcome of any such proceedings, either individually or in the aggregate, will have a material effect on the Company’s financial position, results of operations and cash flows. Contingent Gaming License Fees in Illinois As required for its gaming licensure at The Temporary/American Place, the Company may be required to make a “Reconciliation Payment” to the State of Illinois. The Reconciliation Payment is calculated three years after the commencement of gaming operations in Illinois in an amount equal to 75% of the adjusted gross receipts for the most lucrative trailing 12-month period six years ​ ​

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE	9 Months Ended
	Sep. 30, 2023
EARNINGS (LOSS) PER SHARE
EARNINGS (LOSS) PER SHARE	7. EARNINGS (LOSS) PER SHARE The table below reconciles basic and diluted earnings (loss) per share of common stock: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30, ​ September 30, ​ 2023 2022 2023 2022 Numerator: ​ ​ ​ ​ Net income (loss) ─ basic ​ $ 4,593 ​ $ (3,577) ​ $ (12,422) ​ $ (7,822) Net income (loss) ─ diluted ​ $ 4,593 ​ $ (3,577) ​ $ (12,422) ​ $ (7,822) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ Weighted-average common shares ─ basic ​ 34,583 ​ 34,390 ​ 34,497 ​ 34,339 Potential dilution from share-based awards ​ ​ 2,090 ​ ​ 89 ​ ​ — ​ ​ 60 Weighted-average common and common share equivalents ─ diluted ​ 36,673 ​ 34,479 ​ 34,497 ​ 34,399 Anti-dilutive share-based awards excluded from the calculation of diluted earnings (loss) per share ​ 1,108 ​ 3,512 ​ 3,998 ​ 2,466 ​

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2023
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION	8. SHARE-BASED COMPENSATION Performance-Based Shares. one one In April 2023, the Compensation Committee approved the satisfaction of certain performance criteria related to our operations in 2022. Such performance measures involved multi-year growth rates for EBITDA and free cash flow per share. As a result, a total of 73,885 shares were approved to vest upon the later of (a) such approval by the Compensation Committee or (b) the anniversary date of their grant. During the second quarter of 2023, a total of 64,223 shares vested, while the remaining 9,662 shares vested in the third quarter of 2023. Restricted Stock Awards. As of September 30, 2023, the Company had 671,041 share-based awards authorized by shareholders and available for grant from the 2015 Plan. The following table summarizes information related to the Company’s common stock options as of September 30, 2023: ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ Number ​ Average ​ ​ of Stock ​ Exercise ​ ​ Options ​ Price Options outstanding at January 1, 2023 3,503,235 ​ $ 2.80 Granted 350,754 ​ 7.40 Exercised (53,962) ​ 1.38 Canceled/Forfeited (20,000) ​ 6.88 Expired (20,000) ​ 3.22 Options outstanding at September 30, 2023 3,760,027 ​ $ 3.22 Options exercisable at September 30, 2023 3,062,668 ​ $ 2.27 ​ ​ Components of compensation expense are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30, ​ September 30, Compensation Expense ​ 2023 ​ 2022 ​ 2023 ​ 2022 Stock options ​ $ 394 ​ $ 325 ​ $ 1,096 ​ $ 846 Restricted and performance-based shares ​ 332 ​ 207 ​ 1,033 ​ 516 ​ ​ $ 726 ​ $ 532 ​ $ 2,129 ​ $ 1,362 ​ As of September 30, 2023, there was approximately $2.5 million of unrecognized compensation cost related to unvested stock options previously granted that is expected to be recognized over a weighted-average period of approximately 2.0 years. As of such date, there was also $1.7 million of unrecognized compensation cost related to unvested restricted and performance-based shares, which is expected to be recognized over a weighted-average period of 1.3 years.

SEGMENT REPORTING AND DISAGGREG

SEGMENT REPORTING AND DISAGGREGATED REVENUE	9 Months Ended
	Sep. 30, 2023
SEGMENT REPORTING AND DISAGGREGATED REVENUE
SEGMENT REPORTING AND DISAGGREGATED REVENUE	9. SEGMENT REPORTING AND DISAGGREGATED REVENUE The Company manages its reporting segments based on geographic regions within the United States and type of income. Starting in the first quarter of 2023, the Company changed its reportable segments to Midwest & South, West, and Contracted Sports Wagering. This change reflects a realignment within the Company as a result of its continued growth. The Company’s management views the regions where each of its casino resorts are located as reportable segments, in addition to its contracted sports wagering segment. Reportable segments are aggregated based on geography, economic characteristics, types of customers, types of services and products provided, the regulatory environments in which they operate, and their management and reporting structure. The Company utilizes Adjusted Segment EBITDA as the measure of segment profit in assessing performance and allocating resources at the reportable segment level. Adjusted Segment EBITDA is defined as earnings before interest and other non-operating income (expense), taxes, depreciation and amortization, preopening expenses, impairment charges, asset write-offs, recoveries, gain (loss) from asset disposals, project development and acquisition costs, non-cash share-based compensation expense, and corporate-related costs and expenses that are not allocated to each segment. As a result of the change in reportable segments described above, the Company has recast previously-reported segment information to conform to the current presentation in the following tables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Three Months Ended September 30, 2023 ​ ​ ​ ​ ​ ​ Contracted ​ ​ ​ ​ ​ ​ ​ ​ Sports ​ ​ ​ ​ Midwest & South ​ West ​ Wagering ​ Total Revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Casino ​ $ 40,341 ​ $ 9,899 ​ $ — ​ $ 50,240 Food and beverage ​ 8,242 ​ 844 ​ — ​ 9,086 Hotel ​ 2,369 ​ 191 ​ — ​ 2,560 Other operations, including ​ 1,601 ​ 151 ​ 7,905 ​ 9,657 ​ ​ $ 52,553 ​ $ 11,085 ​ $ 7,905 ​ $ 71,543 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Adjusted Segment EBITDA ​ $ 11,750 ​ $ 2,308 ​ $ 7,852 ​ $ 21,910 Other operating costs and expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation and amortization ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (8,468) Corporate expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1,280) Project development costs ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (21) Preopening costs ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1,051) Loss on disposal of assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (7) Stock-based compensation ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (726) Operating income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 10,357 Other (expense) income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest expense, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (5,867) Gain on settlements ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 29 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (5,838) Income before income taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 4,519 Income tax benefit ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (74) Net income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 4,593 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Three Months Ended September 30, 2022 ​ ​ ​ ​ ​ ​ Contracted ​ ​ ​ ​ ​ ​ ​ ​ Sports ​ ​ ​ ​ Midwest & South ​ West ​ Wagering ​ Total Revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Casino ​ $ 20,153 ​ $ 9,568 ​ $ — ​ $ 29,721 Food and beverage ​ 6,078 ​ 733 ​ — ​ 6,811 Hotel ​ 2,267 ​ 223 ​ — ​ 2,490 Other operations, ​ 1,122 ​ 151 ​ 1,098 ​ 2,371 ​ ​ $ 29,620 ​ $ 10,675 ​ $ 1,098 ​ $ 41,393 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Adjusted Segment EBITDA ​ $ 5,578 ​ $ 2,316 ​ $ 1,083 ​ $ 8,977 Other operating costs and expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation and amortization ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (2,386) Corporate expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1,219) Project development costs ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 149 Preopening costs ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (2,594) Stock-based compensation ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (532) Operating income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2,395 Other expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest expense, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (5,838) Loss on modification of debt ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (105) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (5,943) Loss before income taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (3,548) Income tax provision ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 29 Net loss ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ (3,577) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Nine Months Ended September 30, 2023 ​ ​ ​ ​ ​ ​ Contracted ​ ​ ​ ​ ​ ​ ​ ​ Sports ​ ​ ​ ​ Midwest & South ​ West ​ Wagering ​ Total Revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Casino ​ $ 107,474 ​ $ 24,112 ​ $ — ​ $ 131,586 Food and beverage ​ 23,032 ​ 2,387 ​ — ​ 25,419 Hotel ​ 6,638 ​ 414 ​ — ​ 7,052 Other operations, ​ 6,123 ​ 384 ​ 10,467 ​ 16,974 ​ ​ $ 143,267 ​ $ 27,297 ​ $ 10,467 ​ $ 181,031 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Adjusted Segment EBITDA ​ $ 31,830 ​ $ 2,538 ​ $ 10,373 ​ $ 44,741 Other operating costs and expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation and amortization ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (22,482) Corporate expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (3,479) Project development costs ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (45) Preopening costs ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (12,634) Loss on disposal of assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (7) Stock-based compensation ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (2,129) Operating income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3,965 Other (expense) income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest expense, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (16,319) Gain on settlements ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 384 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (15,935) Loss before income taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (11,970) Income tax provision ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 452 Net loss ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ (12,422) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Nine Months Ended September 30, 2022 ​ ​ ​ ​ ​ ​ Contracted ​ ​ ​ ​ ​ ​ ​ ​ Sports ​ ​ ​ ​ Midwest & South ​ West ​ Wagering ​ Total Revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Casino ​ $ 62,747 ​ $ 25,546 ​ $ — ​ $ 88,293 Food and beverage ​ 18,126 ​ 2,129 ​ — ​ 20,255 Hotel ​ 6,573 ​ 503 ​ — ​ 7,076 Other operations, ​ 5,055 ​ 422 ​ 6,098 ​ 11,575 ​ ​ $ 92,501 ​ $ 28,600 ​ $ 6,098 ​ $ 127,199 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Adjusted Segment EBITDA ​ $ 21,816 ​ $ 4,508 ​ $ 6,047 ​ $ 32,371 Other operating costs and expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation and amortization ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (6,012) Corporate expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (4,130) Project development costs ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (33) Preopening costs ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (4,914) Loss on disposal of assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (3) Stock-based compensation ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1,362) Operating income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 15,917 Other expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest expense, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (19,225) Loss on modification of debt ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (4,530) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (23,755) Loss before income taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (7,838) Income tax benefit ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (16) Net loss ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ (7,822) ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ September 30, ​ December 31, ​ 2023 2022 Total Assets ​ ​ ​ ​ ​ ​ Midwest & South ​ $ 287,358 ​ $ 194,033 West ​ 359,610 ​ 351,069 Contracted Sports Wagering ​ ​ 5,027 ​ ​ 1,658 Corporate and Other ​ 13,109 ​ 48,569 ​ ​ $ 665,104 ​ $ 595,329 ​

BASIS OF PRESENTATION AND SUMMA

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2023
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation	Basis of Presentation. The interim consolidated financial statements of the Company included herein reflect all adjustments (consisting of normal recurring adjustments) that are, in the opinion of management, necessary to present fairly the financial position and results of operations for the interim periods presented. The results of operations for the interim periods are not necessarily indicative of annualized results for an entire year. The consolidated financial statements include the accounts of Full House and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.
Fair Value and the Fair Value Input Hierarchy	Fair Value and the Fair Value Input Hierarchy. GAAP categorizes the inputs used for fair value into a three-level hierarchy: ● Level 1: Observable inputs, such as quoted prices in active markets for identical assets or liabilities; ● Level 2: Comparable inputs other than quoted prices that are observable for similar assets or liabilities in less active markets; and ● Level 3: Unobservable inputs which may include metrics that market participants would use to estimate values, such as revenue and earnings multiples and relative rates of return. Methods and assumptions used to estimate the fair value of financial instruments are affected by the duration of the instruments and other factors used by market participants to estimate value. The carrying amounts for cash and equivalents, restricted cash, accounts receivable, and accounts payable approximate their estimated fair value because of the short durations of the instruments and inconsequential rates of interest.
Cash Equivalents and Restricted Cash	Cash Equivalents and Restricted Cash. Restricted cash balances consist of funds placed into a construction reserve, interest-bearing account to fund the completion of the Chamonix construction project, in accordance with the Company’s debt covenants.
Accounts Receivable	Accounts Receivable. ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ September 30, ​ December 31, ​ ​ 2023 2022 Accounts receivable ​ $ 8,508 ​ $ 4,331 Less: Reserves ​ ​ (236) ​ ​ (249) ​ ​ $ 8,272 ​ $ 4,082 ​ At September 30, 2023, the balance in accounts receivables includes $3.6 million in connection with two online sports wagering agreements that ceased operations in September 2023. We received all of such amount in October 2023. Management believes that, as of September 30, 2023, no significant concentrations of credit risk existed for which a reserve had not already been recorded.
Other Intangible Assets	Other Intangible Assets. In March 2023, the Company paid $50.3 million to the Illinois Gaming Board (“IGB”) for required gaming license fees to operate The Temporary, and upon its opening, American Place. Management has deemed the gaming license in Illinois as having an indefinite economic life, as such license is eligible for renewal every four years if all regulatory requirements are met. There may be an additional one-time reconciliation fee, depending on interim gaming revenues, which is calculated three years after commencing operations and can be paid over a six-year period. See Note 6 for details.
Revenue Recognition	Revenue Recognition: Accrued Club Points and Customer Loyalty Programs: Operating Revenues and Related Costs and Expenses. The transaction price for a casino wager is the difference between gaming wins and losses, not the total amount wagered. As such wagers have similar characteristics, the Company accounts for its gaming transactions on a portfolio basis by recognizing net win per gaming day versus on an individual basis. The Company sometimes provides discretionary complimentary goods and services (“discretionary comps”). For these types of transactions, the Company allocates revenue to the department providing the complimentary goods or services based upon its estimated standalone selling price, offset by a reduction in casino revenues. Many of the Company’s casino customers choose to earn points under its customer loyalty programs. As points are accrued, the Company defers a portion of its casino revenue based on the estimated standalone value of loyalty points being earned by the customer. The standalone value of loyalty points is derived from the retail value of food, beverages, hotel rooms, and other goods or services for which such points may be redeemed. A liability related to these customer loyalty points is recorded, net of estimated breakage and other factors, until the customer redeems these points for various loyalty program benefits, primarily for “free casino play,” complimentary dining, or hotel stays, among others, depending on each property’s specific offers. Upon redemption, the related revenue is recognized at retail value within the department providing the goods or services. Unredeemed points are forfeited if the customer becomes and remains inactive for a specified period of time. Such liabilities were approximately $0.8 million for September 30, 2023 and $0.7 million for December 31, 2022, and these amounts are included in “other accrued expenses and current liabilities” on the consolidated balance sheets. Revenue for food and beverage, hotel, and other revenue transactions is typically the net amount collected from customers for such goods and services, plus the retail value of (i) discretionary comps and (ii) comps provided in return for redemption of loyalty points. The Company records such revenue as the good or service is transferred to the customer. Additionally, the Company may collect deposits in advance for future hotel reservations or entertainment, among other services, which represent obligations of the Company until the service is provided to the customer. Deferred Revenues: Market Access Fees from Sports Wagering Agreements. Indiana. Colorado. Illinois. In addition to the “market access” fees, deferred revenue includes quarterly and annual prepayments of contracted revenue, as required in four of the Sports Agreements. As of September 30, 2023, $3.4 million of such deferred revenue has been recognized during the year. Deferred revenues consisted of the following, as discussed above: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ ​ ​ September 30, ​ December 31, ​ Balance Sheet Location ​ 2023 2022 Deferred revenue, current ​ Other accrued expenses and current liabilities ​ $ 2,435 ​ $ 1,651 Deferred revenue, net of current portion ​ Contract liabilities, net of current portion ​ ​ 6,432 ​ ​ 8,856 ​ ​ ​ ​ $ 8,867 ​ $ 10,507 ​ Other Revenues. Revenue by Source. Note 9
Income Taxes	Income Taxes.
Reclassifications	Reclassifications.
Earnings (loss) per share	Earnings (Loss) Per Share.
Leases	Leases. For material leases with terms greater than a year, the Company records right-of-use (“ROU”) assets and lease liabilities on the balance sheet, as measured on a discounted basis. For finance leases, the Company recognizes interest expense associated with the lease liability, as well as depreciation (or amortization) expense associated with the ROU asset, depending on whether those ROU assets are expected to transfer to the Company upon lease expiration. If ownership of a finance lease ROU asset is expected to transfer to the Company upon lease expiration, then it is included with the Company’s property and equipment; other qualifying finance lease ROU assets, based on other classifying criteria under Accounting Standards Codification 842 (“ASC 842”), are disclosed separately as “Finance Lease Right-of-Use Assets, Net.” For operating leases, the Company recognizes straight-line rent expense. The Company does not recognize ROU assets or lease liabilities for leases with a term of 12 months or less. However, costs related to short-term leases with terms greater than one month, which the Company deems material, are disclosed as a component of lease expenses when applicable. Additionally, the Company accounts for new and existing leases containing both lease and non-lease components (“embedded leases”) together as a single lease component Finance and operating lease ROU assets and liabilities are recognized based on the present value of future minimum lease payments over the expected lease term at commencement, plus any qualifying initial direct costs paid prior to commencement for ROU assets. As the implicit rate is not determinable in most of the Company’s leases, management uses the Company’s incremental borrowing rate as estimated by third-party valuation specialists in determining the present value of future payments based on the information available at the commencement date and/or modification date. The expected lease terms include options to extend or terminate the lease when it is reasonably certain that the Company will exercise such options. Lease expense for minimum lease payments is recognized on a straight-line basis over the expected lease term for operating leases. For finance leases, the ROU asset depreciates/amortizes on a straight-line basis over the shorter of the lease term or useful life of the ROU asset as applicable, and the lease liability accretes interest based on the interest method using the discount rate determined at lease commencement.
Preopening costs	Preopening costs.
Debt Issuance Costs and Debt Discounts	Debt Issuance Costs and Debt Discounts/Premiums.
Recently Issued Accounting Pronouncements Not Yet Adopted	Recently Issued Accounting Pronouncements Not Yet Adopted.

ORGANIZATION (Tables)

ORGANIZATION (Tables)	9 Months Ended
	Sep. 30, 2023
ORGANIZATION
Schedule of Properties	​ ​ ​ ​ Segments and Properties ​ Locations Midwest & South ​ ​ The Temporary by American Place (opened on February 17, 2023) ​ Waukegan, IL Silver Slipper Casino and Hotel Hancock County, MS (near New Orleans) Rising Star Casino Resort Rising Sun, IN (near Cincinnati) West ​ ​ Bronco Billy’s Casino and Hotel Cripple Creek, CO (near Colorado Springs) Chamonix Casino Hotel (scheduled to open on December 26, 2023) ​ Cripple Creek, CO (near Colorado Springs) Grand Lodge Casino Incline Village, NV Stockman’s Casino Fallon, NV (one hour east of Reno) Contracted Sports Wagering ​ ​ Three sports wagering websites (“skins”), one of which is currently idle ​ Colorado Three sports wagering websites (“skins”), two of which are currently idle ​ Indiana One sports wagering website (“skin”), commenced in August 2023 ​ Illinois ​

BASIS OF PRESENTATION AND SIG_2

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Sep. 30, 2023
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES
Schedule of Accounts receivable	​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ September 30, ​ December 31, ​ ​ 2023 2022 Accounts receivable ​ $ 8,508 ​ $ 4,331 Less: Reserves ​ ​ (236) ​ ​ (249) ​ ​ $ 8,272 ​ $ 4,082
Schedule of Deferred revenues	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ ​ ​ September 30, ​ December 31, ​ Balance Sheet Location ​ 2023 2022 Deferred revenue, current ​ Other accrued expenses and current liabilities ​ $ 2,435 ​ $ 1,651 Deferred revenue, net of current portion ​ Contract liabilities, net of current portion ​ ​ 6,432 ​ ​ 8,856 ​ ​ ​ ​ $ 8,867 ​ $ 10,507
Schedule of Earnings Per Share, Basic and Diluted	The table below reconciles basic and diluted earnings (loss) per share of common stock: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30, ​ September 30, ​ 2023 2022 2023 2022 Numerator: ​ ​ ​ ​ Net income (loss) ─ basic ​ $ 4,593 ​ $ (3,577) ​ $ (12,422) ​ $ (7,822) Net income (loss) ─ diluted ​ $ 4,593 ​ $ (3,577) ​ $ (12,422) ​ $ (7,822) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ Weighted-average common shares ─ basic ​ 34,583 ​ 34,390 ​ 34,497 ​ 34,339 Potential dilution from share-based awards ​ ​ 2,090 ​ ​ 89 ​ ​ — ​ ​ 60 Weighted-average common and common share equivalents ─ diluted ​ 36,673 ​ 34,479 ​ 34,497 ​ 34,399 Anti-dilutive share-based awards excluded from the calculation of diluted earnings (loss) per share ​ 1,108 ​ 3,512 ​ 3,998 ​ 2,466 ​

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Sep. 30, 2023
LEASES
Balance Sheet Information For Leases	Leases recorded on the balance sheet consist of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, Leases Balance Sheet Classification 2023 ​ 2022 Assets ​ ​ ​ ​ Operating lease assets Operating Lease Right-of-Use Assets, Net $ 45,480 ​ $ 15,771 Finance lease assets Property and Equipment, Net (1) ​ 4,448 ​ 4,566 Finance lease assets ​ Finance Lease Right-of-Use Assets, Net (2) ​ ​ 2,661 ​ ​ 3,808 Total lease assets ​ $ 52,589 ​ $ 24,145 ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ Current ​ ​ ​ ​ ​ ​ Operating Current Portion of Operating Lease Obligations ​ $ 4,141 ​ $ 2,485 Finance Current Portion of Finance Lease Obligations ​ 1,659 ​ 1,581 Noncurrent ​ ​ ​ ​ ​ ​ Operating Operating Lease Obligations, Net of Current Portion ​ 41,627 ​ 13,418 Finance Finance Lease Obligations, Net of Current Portion ​ 3,141 ​ 4,727 Total lease liabilities ​ $ 50,568 ​ $ 22,211 __________ (1) Finance lease assets are recorded net of accumulated amortization of $2.7 million (after the effects of $0.6 million in disposals) for September 30, 2023 and $3.2 million for December 31, 2022. (2) These finance lease assets are recorded separately from Property and Equipment due to meeting qualifying classification criteria under ASC 842, but ownership of such assets is not expected to transfer to the Company upon term expiration. Additionally, amortization of these assets are expensed over the duration of the lease term or the assets’ estimated useful lives, whichever is earlier.
Components of Lease Expense	The components of lease expenses are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Three Months Ended Nine Months Ended ​ ​ Classification within ​ September 30, ​ September 30, Lease Costs ​ Statement of Operations ​ 2023 2022 ​ 2023 2022 Operating leases: ​ ​ ​ ​ ​ ​ Fixed/base rent Selling, General and Administrative Expenses ​ $ 2,008 ​ $ 1,206 ​ $ 5,970 ​ $ 3,549 Short-term payments ​ Selling, General and Administrative Expenses ​ ​ — ​ ​ 33 ​ ​ 22 ​ ​ 103 Variable payments Selling, General and Administrative Expenses ​ 281 ​ 314 ​ 935 ​ 1,069 Finance leases: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization of leased assets Depreciation and Amortization ​ 412 ​ 39 ​ 1,113 ​ 118 Interest on lease liabilities Interest Expense, Net ​ 89 ​ 34 ​ 309 ​ 106 Total lease costs ​ ​ ​ $ 2,790 ​ $ 1,626 ​ $ 8,349 ​ $ 4,945
Finance Lease, Liability, Maturity	​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ ​ ​ ​ ​ ​ ​ Operating Finance Years Ending December 31, ​ Leases ​ Leases 2023 (excluding the nine months ended September 30, 2023) ​ $ 1,923 ​ $ 489 2024 ​ 7,735 ​ 1,957 2025 ​ 5,722 ​ 1,721 2026 ​ 4,864 ​ 652 2027 ​ 4,515 ​ 489 Thereafter ​ 316,582 ​ — Total future minimum lease payments ​ 341,341 ​ 5,308 Less: Amount representing interest ​ (295,573) ​ (508) Present value of lease liabilities ​ 45,768 ​ 4,800 Less: Current lease obligations ​ (4,141) ​ (1,659) Long-term lease obligations ​ $ 41,627 ​ $ 3,141 ​
Other Information Related To Lease Term And Discount Rate	Other information related to lease term and discount rate is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, Lease Term and Discount Rate ​ 2023 ​ 2022 Weighted-average remaining lease term ​ ​ ​ Operating leases 67.1 years ​ 23.2 years Finance leases 3.0 years ​ 3.7 years Weighted-average discount rate ​ ​ ​ ​ ​ Operating leases 10.90 % ​ 9.73 % Finance leases 7.56 % ​ 7.08 %
Supplemental Cash Flow Information Related To Leases	​ ​ ​ ​ ​ ​ ​ ​ (In thousands) Nine Months Ended ​ ​ September 30, Cash paid for amounts included in the measurement of lease liabilities: ​ 2023 ​ 2022 Operating cash flows for operating leases ​ $ 5,813 ​ $ 3,670 Operating cash flows for finance leases ​ $ 309 ​ $ 106 Financing cash flows for finance leases ​ $ 1,159 ​ $ 383 ​

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	9 Months Ended
	Sep. 30, 2023
LONG-TERM DEBT.
Schedule of Long-Term Debt	​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ September 30, ​ December 31, ​ ​ 2023 ​ 2022 Revolving Credit Facility due 2026 ​ $ 27,000 ​ $ — 8.25% Senior Secured Notes due 2028 ​ ​ 450,000 ​ ​ 410,000 Less: Unamortized debt issuance costs and discounts/premiums, net ​ ​ (12,599) ​ ​ (8,148) ​ ​ $ 464,401 ​ $ 401,852
Debt Instrument Redemption	At any time on or after February 15, 2024, the Company may redeem some or all of the Notes for cash at the following redemption prices: ​ ​ ​ ​ Redemption Periods Percentage Premium February 15, 2024 to February 14, 2025 104.125 % February 15, 2025 to February 14, 2026 102.063 % February 15, 2026 and Thereafter ​ 100.000 %

EARNINGS (LOSS) PER SHARE (Tabl

EARNINGS (LOSS) PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2023
EARNINGS (LOSS) PER SHARE
Schedule of Earnings Per Share, Basic and Diluted	The table below reconciles basic and diluted earnings (loss) per share of common stock: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30, ​ September 30, ​ 2023 2022 2023 2022 Numerator: ​ ​ ​ ​ Net income (loss) ─ basic ​ $ 4,593 ​ $ (3,577) ​ $ (12,422) ​ $ (7,822) Net income (loss) ─ diluted ​ $ 4,593 ​ $ (3,577) ​ $ (12,422) ​ $ (7,822) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ Weighted-average common shares ─ basic ​ 34,583 ​ 34,390 ​ 34,497 ​ 34,339 Potential dilution from share-based awards ​ ​ 2,090 ​ ​ 89 ​ ​ — ​ ​ 60 Weighted-average common and common share equivalents ─ diluted ​ 36,673 ​ 34,479 ​ 34,497 ​ 34,399 Anti-dilutive share-based awards excluded from the calculation of diluted earnings (loss) per share ​ 1,108 ​ 3,512 ​ 3,998 ​ 2,466 ​

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2023
STOCK-BASED COMPENSATION
Schedule of Common Stock Options	The following table summarizes information related to the Company’s common stock options as of September 30, 2023: ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ Number ​ Average ​ ​ of Stock ​ Exercise ​ ​ Options ​ Price Options outstanding at January 1, 2023 3,503,235 ​ $ 2.80 Granted 350,754 ​ 7.40 Exercised (53,962) ​ 1.38 Canceled/Forfeited (20,000) ​ 6.88 Expired (20,000) ​ 3.22 Options outstanding at September 30, 2023 3,760,027 ​ $ 3.22 Options exercisable at September 30, 2023 3,062,668 ​ $ 2.27
Schedule of compensation expense	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Three Months Ended ​ Nine Months Ended ​ ​ September 30, ​ September 30, Compensation Expense ​ 2023 ​ 2022 ​ 2023 ​ 2022 Stock options ​ $ 394 ​ $ 325 ​ $ 1,096 ​ $ 846 Restricted and performance-based shares ​ 332 ​ 207 ​ 1,033 ​ 516 ​ ​ $ 726 ​ $ 532 ​ $ 2,129 ​ $ 1,362

SEGMENT REPORTING AND DISAGGR_2

SEGMENT REPORTING AND DISAGGREGATED REVENUE (Tables)	9 Months Ended
	Sep. 30, 2023
SEGMENT REPORTING AND DISAGGREGATED REVENUE
Schedule of Total Revenues By Segment	As a result of the change in reportable segments described above, the Company has recast previously-reported segment information to conform to the current presentation in the following tables: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Three Months Ended September 30, 2023 ​ ​ ​ ​ ​ ​ Contracted ​ ​ ​ ​ ​ ​ ​ ​ Sports ​ ​ ​ ​ Midwest & South ​ West ​ Wagering ​ Total Revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Casino ​ $ 40,341 ​ $ 9,899 ​ $ — ​ $ 50,240 Food and beverage ​ 8,242 ​ 844 ​ — ​ 9,086 Hotel ​ 2,369 ​ 191 ​ — ​ 2,560 Other operations, including ​ 1,601 ​ 151 ​ 7,905 ​ 9,657 ​ ​ $ 52,553 ​ $ 11,085 ​ $ 7,905 ​ $ 71,543 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Adjusted Segment EBITDA ​ $ 11,750 ​ $ 2,308 ​ $ 7,852 ​ $ 21,910 Other operating costs and expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation and amortization ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (8,468) Corporate expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1,280) Project development costs ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (21) Preopening costs ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1,051) Loss on disposal of assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (7) Stock-based compensation ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (726) Operating income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 10,357 Other (expense) income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest expense, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (5,867) Gain on settlements ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 29 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (5,838) Income before income taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 4,519 Income tax benefit ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (74) Net income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 4,593 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Three Months Ended September 30, 2022 ​ ​ ​ ​ ​ ​ Contracted ​ ​ ​ ​ ​ ​ ​ ​ Sports ​ ​ ​ ​ Midwest & South ​ West ​ Wagering ​ Total Revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Casino ​ $ 20,153 ​ $ 9,568 ​ $ — ​ $ 29,721 Food and beverage ​ 6,078 ​ 733 ​ — ​ 6,811 Hotel ​ 2,267 ​ 223 ​ — ​ 2,490 Other operations, ​ 1,122 ​ 151 ​ 1,098 ​ 2,371 ​ ​ $ 29,620 ​ $ 10,675 ​ $ 1,098 ​ $ 41,393 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Adjusted Segment EBITDA ​ $ 5,578 ​ $ 2,316 ​ $ 1,083 ​ $ 8,977 Other operating costs and expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation and amortization ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (2,386) Corporate expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1,219) Project development costs ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 149 Preopening costs ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (2,594) Stock-based compensation ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (532) Operating income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2,395 Other expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest expense, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (5,838) Loss on modification of debt ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (105) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (5,943) Loss before income taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (3,548) Income tax provision ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 29 Net loss ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ (3,577) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Nine Months Ended September 30, 2023 ​ ​ ​ ​ ​ ​ Contracted ​ ​ ​ ​ ​ ​ ​ ​ Sports ​ ​ ​ ​ Midwest & South ​ West ​ Wagering ​ Total Revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Casino ​ $ 107,474 ​ $ 24,112 ​ $ — ​ $ 131,586 Food and beverage ​ 23,032 ​ 2,387 ​ — ​ 25,419 Hotel ​ 6,638 ​ 414 ​ — ​ 7,052 Other operations, ​ 6,123 ​ 384 ​ 10,467 ​ 16,974 ​ ​ $ 143,267 ​ $ 27,297 ​ $ 10,467 ​ $ 181,031 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Adjusted Segment EBITDA ​ $ 31,830 ​ $ 2,538 ​ $ 10,373 ​ $ 44,741 Other operating costs and expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation and amortization ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (22,482) Corporate expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (3,479) Project development costs ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (45) Preopening costs ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (12,634) Loss on disposal of assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (7) Stock-based compensation ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (2,129) Operating income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3,965 Other (expense) income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest expense, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (16,319) Gain on settlements ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 384 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (15,935) Loss before income taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (11,970) Income tax provision ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 452 Net loss ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ (12,422) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Nine Months Ended September 30, 2022 ​ ​ ​ ​ ​ ​ Contracted ​ ​ ​ ​ ​ ​ ​ ​ Sports ​ ​ ​ ​ Midwest & South ​ West ​ Wagering ​ Total Revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Casino ​ $ 62,747 ​ $ 25,546 ​ $ — ​ $ 88,293 Food and beverage ​ 18,126 ​ 2,129 ​ — ​ 20,255 Hotel ​ 6,573 ​ 503 ​ — ​ 7,076 Other operations, ​ 5,055 ​ 422 ​ 6,098 ​ 11,575 ​ ​ $ 92,501 ​ $ 28,600 ​ $ 6,098 ​ $ 127,199 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Adjusted Segment EBITDA ​ $ 21,816 ​ $ 4,508 ​ $ 6,047 ​ $ 32,371 Other operating costs and expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation and amortization ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (6,012) Corporate expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (4,130) Project development costs ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (33) Preopening costs ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (4,914) Loss on disposal of assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (3) Stock-based compensation ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1,362) Operating income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 15,917 Other expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest expense, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (19,225) Loss on modification of debt ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (4,530) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (23,755) Loss before income taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (7,838) Income tax benefit ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (16) Net loss ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ (7,822) ​
Schedule of Total Assets By Segment	​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ September 30, ​ December 31, ​ 2023 2022 Total Assets ​ ​ ​ ​ ​ ​ Midwest & South ​ $ 287,358 ​ $ 194,033 West ​ 359,610 ​ 351,069 Contracted Sports Wagering ​ ​ 5,027 ​ ​ 1,658 Corporate and Other ​ 13,109 ​ 48,569 ​ ​ $ 665,104 ​ $ 595,329 ​

ORGANIZATION - Resort (Details)

ORGANIZATION - Resort (Details)	Sep. 30, 2023 item
Number of casinos operated	6
Number of casinos owned or leased	5
Number of casinos located within a hotel owned by a third party	1
Number of sports skins operating	7
INDIANA
Number of sports skins operating	3
COLORADO
Number of sports skins operating	3
ILLINOIS
Number of sports skins operating	1

BASIS OF PRESENTATION AND SUM_2

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Leases (Details)	Sep. 30, 2023
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES
Lease, Practical Expedient, Lessor Single Lease Component [true false]	true

BASIS OF PRESENTATION AND SIG_3

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - Other Intangible Assets (Details) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended
	Mar. 31, 2023	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Intangible assets, net (excluding goodwill) [Abstract]
Other intangible assets, net		$ 61,097		$ 10,869
Acquisition of intangible assets		$ (50,251)	$ 0
Gaming Licenses
Intangible assets, net (excluding goodwill) [Abstract]
Acquisition of intangible assets	$ (50,300)

BASIS OF PRESENTATION AND SUM_3

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Accounts Receivable (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Basis Of Presentation [Line Items]
Accounts receivable	$ 8,508	$ 4,331
Less: Reserves	(236)	(249)
Accounts receivable, net	8,272	$ 4,082
Sports Wagering Agreements
Basis Of Presentation [Line Items]
Accounts receivable	$ 3,600

BASIS OF PRESENTATION AND SUM_4

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Deferred Revenues (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES
Deferred revenue, current	$ 2,435	$ 1,651
Deferred revenue, net of current portion	6,432	8,856
Contract with Customer, Liability, Total	$ 8,867	$ 10,507

BASIS OF PRESENTATION AND SUM_5

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Deferred Revenues: Market Access Fees from Sports Wagering Agreements (Details) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	May 31, 2022 USD ($)	Sep. 30, 2023 USD ($) item	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) item	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Basis Of Presentation [Line Items]
Deferred revenues		$ 8,867		$ 8,867		$ 10,507
Revenue from Contract with Customer, Excluding Assessed Tax		71,543	$ 41,393	181,031	$ 127,199
Liabilities in other accrued expenses		$ 800		800		$ 700
Number of idle skins created each in Indiana and Colorado | item		1
Total operating costs and expenses		$ 61,186	$ 38,998	$ 177,066	$ 111,282
COLORADO
Basis Of Presentation [Line Items]
Term of agreement				10 years
Number of contracted mobile sports operators intended to cease operations | item		2		2
Minimum revenues receivable		$ 2,000		$ 2,000
INDIANA
Basis Of Presentation [Line Items]
Number of idle skins operated itself or utilize replacement operators | item		2
Number of contracted mobile sports operators intended to cease operations | item		2		2
Minimum revenues receivable		$ 1,000		$ 1,000
ILLINOIS
Basis Of Presentation [Line Items]
Deferred revenue				$ 3,400
Term of agreement	8 years
Upfront fee received	$ 5,000
Minimum revenues receivable	$ 5,000
Sports Wagering Agreements | COLORADO
Basis Of Presentation [Line Items]
Number of contracted mobile sports operators in operations | item				3
Sports Wagering Agreements | INDIANA
Basis Of Presentation [Line Items]
Number of contracted mobile sports operators in operations | item				3
Sports Wagering Agreements | ILLINOIS
Basis Of Presentation [Line Items]
Number of contracted mobile sports in operation that includes both quarterly and annual prepayments of contracted revenue | item		4
Market Access Fee from Sports Wagering Agreements
Basis Of Presentation [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax		$ 1,500

LEASES - Narrative (Details)

LEASES - Narrative (Details)		1 Months Ended		9 Months Ended	12 Months Ended	108 Months Ended
	Jan. 01, 2018 USD ($)	Jan. 31, 2023 USD ($) a	Jun. 30, 2017 USD ($) ft²	Sep. 30, 2023 USD ($) a room Option	Dec. 31, 2004 USD ($) a	Jan. 31, 2035 USD ($)	Mar. 31, 2020 USD ($)
Grand Lodge Casino facility
Lessee, Lease, Description [Line Items]
Rent	$ 2
Corporate Office Lease
Lessee, Lease, Description [Line Items]
Rent			$ 200,000
Office lease, square feet | ft²			4,479
Land Lease With City of Waukegan, Illinois
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Term of Contract		99 years
Area of land subject to ground lease | a		32
Land lease | Land Lease Of Silver Slipper Casino Site
Lessee, Lease, Description [Line Items]
Percentage of gross gaming revenue					3%
Gross gaming revenue (in excess of)					$ 3,650,000
Cost to exercise purchase option							$ 15,500,000
Retained interest in percentages of net income					3%
Retained interest in percentages of net income, term					10 years
Annual Guaranteed Minimum Rent					$ 900,000
Land lease | Land Lease Of Silver Slipper Casino Site | Marshland
Lessee, Lease, Description [Line Items]
Area of land subject to ground lease | a					31
Land lease | Land Lease Of Silver Slipper Casino Site | Parcel
Lessee, Lease, Description [Line Items]
Area of land subject to ground lease | a					7
Certain parking lots and buildings | Bronco Billy's Casino and Hotel
Lessee, Lease, Description [Line Items]
Cost to exercise purchase option				$ 7,600,000
Number of original renewal options | Option				6
Certain parking lots and buildings | Lease Terms, Option One | Bronco Billy's Casino and Hotel
Lessee, Lease, Description [Line Items]
Lease extension term				3 years
Certain parking lots and buildings | Lease Terms, Option Two | Bronco Billy's Casino and Hotel
Lessee, Lease, Description [Line Items]
Operating Leases Annual Rent Payment				$ 400,000
Waukegan Ground Lease
Lessee, Lease, Description [Line Items]
Adjacent area parcel | a		10
Annual Guaranteed Minimum Rent		$ 3,000,000
Adjusted Gross Receipts (in percent)		2.50%
Amount required to purchase lease area		$ 30,000,000
Rising Star Casino Resort | Rising Sun/Ohio County First, Inc
Lessee, Lease, Description [Line Items]
Number of hotel rooms | room				104
Project actual cost				$ 7,700,000
Potential purchase price				2,400,000
Option price at lease maturity				$ 1
Option to purchase land area | a				3.01
Minimum
Lessee, Lease, Description [Line Items]
Lease terms				1 month
Minimum | Certain parking lots and buildings | Bronco Billy's Casino and Hotel | Scenario, Forecast
Lessee, Lease, Description [Line Items]
Operating Leases Annual Rent Payment						$ 500,000
Maximum
Lessee, Lease, Description [Line Items]
Lease terms				99 years

LEASES - Balance Sheet Details

LEASES - Balance Sheet Details (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
LEASES
Operating lease assets	$ 45,480	$ 15,771
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Operating lease assets	Operating lease assets
Finance lease assets	$ 4,448	$ 4,566
Finance Lease Right of Use Asset, Net Included in Property Plant and Equipment [Extensible Enumeration]	Property Plant And Equipment And Partial Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization	Property Plant And Equipment And Partial Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
Finance lease assets	$ 2,661	$ 3,808
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Finance lease assets	Finance lease assets
Total lease assets	$ 52,589	$ 24,145
Current operating lease liability	$ 4,141	$ 2,485
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Current operating lease liability	Current operating lease liability
Current finance lease liability	$ 1,659	$ 1,581
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Current finance lease liability	Current finance lease liability
Noncurrent operating lease liability	$ 41,627	$ 13,418
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Noncurrent operating lease liability	Noncurrent operating lease liability
Noncurrent finance lease liability	$ 3,141	$ 4,727
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Noncurrent finance lease liability	Noncurrent finance lease liability
Total lease liabilities	$ 50,568	$ 22,211
Finance Lease, Right-of-Use Asset, Accumulated Amortization	2,700	$ 3,200
Finance Lease, Right-of-Use Asset, Disposals	$ 600

LEASES - Lease Expense (Details

LEASES - Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
LEASES
Fixed/base rent	$ 2,008	$ 1,206	$ 5,970	$ 3,549
Short-term payments		33	22	103
Variable payments	281	314	935	1,069
Amortization of leased assets	412	39	1,113	118
Interest on lease liabilities	89	34	309	106
Total lease costs	$ 2,790	$ 1,626	$ 8,349	$ 4,945

LEASES - Maturities of Lease Li

LEASES - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Operating Leases
2023 (excluding the nine months ended September 30, 2023)	$ 1,923
2024	7,735
2025	5,722
2026	4,864
2027	4,515
Thereafter	316,582
Total future minimum lease payments	341,341
Less: Amount representing interest	(295,573)
Present value of lease liabilities	45,768
Less: Current lease obligations	(4,141)	$ (2,485)
Long-term lease obligations	41,627	13,418
Financing Lease
2023 (excluding the nine months ended September 30, 2023)	489
2024	1,957
2025	1,721
2026	652
2027	489
Total future minimum lease payments	5,308
Less: Amount representing interest	(508)
Present value of lease liabilities	4,800
Less: Current lease obligations	(1,659)	(1,581)
Long-term lease obligations	$ 3,141	$ 4,727

LEASES - Lease Term and Discoun

LEASES - Lease Term and Discount Rate (Details)	Sep. 30, 2023	Dec. 31, 2022
LEASES
Weighted-average remaining lease term, operating leases	67 years 1 month 6 days	23 years 2 months 12 days
Weighted-average remaining lease term, finance leases	3 years	3 years 8 months 12 days
Weighted-average discount rate, operating leases	10.90%	9.73%
Weighted-average discount rate, finance leases	7.56%	7.08%

LEASES - Supplemental Cash Flow

LEASES - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$ 5,813	$ 3,670
Operating cash flows for finance lease	309	106
Financing cash flows for finance lease	$ 1,159	$ 383

LONG-TERM DEBT - Senior Secured

LONG-TERM DEBT - Senior Secured Notes Narrative (Details) $ in Thousands			9 Months Ended
	Feb. 21, 2023 USD ($)	Feb. 07, 2022 USD ($) item	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Jan. 31, 2022 USD ($)	Feb. 12, 2021 USD ($)
Line of Credit Facility [Line Items]
Proceeds from Senior Secured Notes due 2028 borrowings			$ 40,000	$ 100,000
Proceeds from the offering, net of related expenses and discounts	$ 34,000
Senior Secured Notes Due 2028 | Senior Secured Notes
Line of Credit Facility [Line Items]
Proceeds from Senior Secured Notes due 2028 borrowings	40,000
Number of Supplemental Indentures Entered | item		3
Senior Secured Notes Due 2028 | Senior Secured Notes
Line of Credit Facility [Line Items]
Aggregate principal amount	$ 450,000					$ 310,000
Additional principal amount of debt issued		$ 100,000
Issue price, percentage		102%
Interest rate			8.25%			8.25%
Borrowed funds designated for constructing project					$ 221,000	$ 180,000

LONG-TERM DEBT - Redemption of

LONG-TERM DEBT - Redemption of Senior Secured Notes (Details) - Senior Secured Notes		9 Months Ended
	Feb. 12, 2021	Sep. 30, 2023
Senior Secured Notes Due 2028
Line of Credit Facility [Line Items]
Percentage of principal amount of debt redeemed	35%
Percentage Premium		100%
Percentage of redemption of equity offering	108.25%
February 15, 2024 to February 14, 2025 | Senior Secured Notes Due 2028
Line of Credit Facility [Line Items]
Percentage of principal amount of debt redeemed	104.125%
February 15, 2025 to February 14, 2026 | Senior Secured Notes Due 2028
Line of Credit Facility [Line Items]
Percentage of principal amount of debt redeemed	102.063%
February 15, 2026 and Thereafter | Senior Secured Notes Due 2028
Line of Credit Facility [Line Items]
Percentage of principal amount of debt redeemed	100%

LONG-TERM DEBT - Revolving Cred

LONG-TERM DEBT - Revolving Credit Facility (Details) - Revolving Credit Facility - USD ($) $ in Millions	Feb. 07, 2022	Sep. 30, 2023	Feb. 21, 2023	Mar. 31, 2021
Debt Instrument [Line Items]
Agreement of revolving credit facility	$ 40			$ 15
Line of Credit Facility, Additional Borrowing Capacity			$ 40	$ 25
Outstanding borrowings		$ 27
SOFR | Until Completion of Chamonix Project
Debt Instrument [Line Items]
Applicable margin rate	3.50%
Adjustment rate	0.15%
SOFR | After Completion of Chamonix Project
Debt Instrument [Line Items]
Applicable margin rate	3%
Adjustment rate	0.15%
Base Rate | Until Completion of Chamonix Project
Debt Instrument [Line Items]
Applicable margin rate	2.50%
Base Rate | After Completion of Chamonix Project
Debt Instrument [Line Items]
Applicable margin rate	2%

LONG-TERM DEBT - Long-Term Debt

LONG-TERM DEBT - Long-Term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	Feb. 12, 2021
Debt Instrument [Line Items]
Unamortized debt issuance costs, discounts and premiums, net	$ (12,599)	$ (8,148)
Long-term debt, net	464,401	401,852
Revolving Credit Facility Due 2026 | Senior Secured Notes
Debt Instrument [Line Items]
Outstanding principal	27,000
Senior Secured Notes Due 2028 | Senior Secured Notes
Debt Instrument [Line Items]
Outstanding principal	$ 450,000	410,000
Debt Instrument, Interest Rate, Stated Percentage	8.25%		8.25%
Estimated fair value	$ 394,700	$ 360,600

INCOME TAXES (Details)

INCOME TAXES (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
INCOME TAXES
Effective income tax rate	(1.60%)	(0.80%)	(3.80%)	0.20%

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended	9 Months Ended
	Mar. 31, 2023	May 31, 2022	Mar. 31, 2023	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Paid for option agreement				$ 5,813	$ 3,670
Deferred revenues				8,867		$ 10,507
COLORADO
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Minimum revenues receivable				$ 2,000
Term of agreement				10 years
ILLINOIS
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Upfront fee received		$ 5,000
Minimum revenues receivable		$ 5,000
Term of agreement		8 years
ILLINOIS | Contingent Gaming Licensing Fees [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Other Commitment, Reconciliation Payment, Percentage of Adjusted Gross Receipt	75%		75%
Other Commitment, Reconciliation Payment Calculation, Gross Receipt Trailing Months	12 months
Reconciliation payments, Installment period			6 years

EARNINGS (LOSS) PER SHARE - Rec

EARNINGS (LOSS) PER SHARE - Reconciliation of Earnings Per Share (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Numerator:
Net income (loss) basic	$ 4,593	$ (3,577)	$ (12,422)	$ (7,822)
Net income (loss) diluted	$ 4,593	$ (3,577)	$ (12,422)	$ (7,822)
Denominator:
Weighted-average common share - basic (in shares)	34,583	34,390	34,497	34,339
Potential dilution from share-based awards (in shares)	2,090	89		60
Weighted-average common and common share equivalents - diluted (in shares)	36,673	34,479	34,497	34,399
Anti-dilutive share-based awards excluded from the calculation of diluted earning (loss) per share	1,108	3,512	3,998	2,466

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details) $ in Millions		1 Months Ended	3 Months Ended		9 Months Ended
	May 18, 2023 shares	Apr. 30, 2023 shares	Sep. 30, 2023 USD ($) item shares	Jun. 30, 2023 shares	Sep. 30, 2023 USD ($) shares
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost | $			$ 2.5		$ 2.5
Weighted-average period of unrecognized compensation cost expected to be recognized					2 years
Performance shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
No .of performance based shares vested			9,662	64,223
Number of shares approved for vesting		73,885
Performance shares | Vest on the anniversary date of the award if the Company's annual Adjusted EBITDA for 2023 reflects at least 10% per annum growth
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rights, percentage					16.67%
Stock Based Awards Incentive Marker 1 Percentage					10%
Performance shares | Vest on the anniversary date if the Company's annual Free Cash Flow Per Share for 2023 reflects at least 12% per annum growth
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rights, percentage					16.67%
Stock Based Awards Incentive Marker 2 Percentage					12%
Restricted and performance shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost | $			$ 1.7		$ 1.7
Weighted-average period of unrecognized compensation cost expected to be recognized					1 year 3 months 18 days
Non Executive Director [Member] | Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted	70,945
Vesting period of remaining shares	1 year
2015 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for future issuance (in shares)			671,041		671,041
2015 Equity Incentive Plan | Three Company Executives | Performance shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted			79,815		40,541
Number Of Executives | item			4

SHARE-BASED COMPENSATION - Summ

SHARE-BASED COMPENSATION - Summarizes information related to our common stock options (Details) - Stock options	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Number of Stock Options
Options outstanding, beginning balance (in shares) | shares	3,503,235
Granted (in shares) | shares	350,754
Exercised (in shares) | shares	(53,962)
Canceled/Forfeited (in shares) | shares	(20,000)
Expired (in shares) | shares	(20,000)
Options outstanding, ending balance (in shares) | shares	3,760,027
Options exercisable (in shares) | shares	3,062,668
Weighted Average Exercise Price
Weighted average exercise price, Options outstanding (in dollars per share) | $ / shares	$ 2.80
Granted (in dollars per share) | $ / shares	7.40
Exercised (in dollars per share) | $ / shares	1.38
Canceled/Forfeited (in dollars per share) | $ / shares	6.88
Expired (in dollars per share) | $ / shares	3.22
Weighted average exercise price, Options outstanding (in dollars per share) | $ / shares	3.22
Weighted average exercise price, Options exercisable (in dollars per share) | $ / shares	$ 2.27

SHARE-BASED COMPENSATION - Comp

SHARE-BASED COMPENSATION - Compensation Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Compensation expense	$ 726	$ 532	$ 2,129	$ 1,362
Stock options
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Compensation expense	394	325	1,096	846
Restricted stocks and Performance-based shares
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Compensation expense	$ 332	$ 207	$ 1,033	$ 516

SEGMENT REPORTING AND DISAGGR_3

SEGMENT REPORTING AND DISAGGREGATED REVENUE - Selected Statement of Operations Data (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Net Revenues	$ 71,543			$ 41,393			$ 181,031	$ 127,199
Adjusted Segment EBITDA	21,910			8,977			44,741	32,371
Depreciation and amortization	(8,468)			(2,386)			(22,482)	(6,012)
Corporate expenses	(1,280)			(1,219)			(3,479)	(4,130)
Project development costs	(21)			149			(45)	(33)
Preopening costs	(1,051)			(2,594)			(12,634)	(4,914)
Loss on disposal of assets	(7)						(7)	(3)
Stock-based compensation	(726)			(532)			(2,129)	(1,362)
Operating income	10,357			2,395			3,965	15,917
Other (expense) income:
Interest expense, net	(5,867)			(5,838)			(16,319)	(19,225)
Loss on modification of debt				(105)			0	(4,530)
Gain on settlements	29						384	0
Nonoperating Income (Expense)	(5,838)			(5,943)			(15,935)	(23,755)
Income (Loss) before income taxes	4,519			(3,548)			(11,970)	(7,838)
Income tax benefit	(74)			29			452	(16)
Net income	4,593	$ (5,600)	$ (11,415)	(3,577)	$ (4,355)	$ 110	(12,422)	(7,822)
Midwest and South
Segment Reporting Information [Line Items]
Net Revenues	52,553			29,620			143,267	92,501
Adjusted Segment EBITDA	11,750			5,578			31,830	21,816
West
Segment Reporting Information [Line Items]
Net Revenues	11,085			10,675			27,297	28,600
Adjusted Segment EBITDA	2,308			2,316			2,538	4,508
Contracted Sports Wagering
Segment Reporting Information [Line Items]
Net Revenues	7,905			1,098			10,467	6,098
Adjusted Segment EBITDA	7,852			1,083			10,373	6,047
Casino
Segment Reporting Information [Line Items]
Net Revenues	50,240			29,721			131,586	88,293
Casino | Midwest and South
Segment Reporting Information [Line Items]
Net Revenues	40,341			20,153			107,474	62,747
Casino | West
Segment Reporting Information [Line Items]
Net Revenues	9,899			9,568			24,112	25,546
Food and beverage
Segment Reporting Information [Line Items]
Net Revenues	9,086			6,811			25,419	20,255
Food and beverage | Midwest and South
Segment Reporting Information [Line Items]
Net Revenues	8,242			6,078			23,032	18,126
Food and beverage | West
Segment Reporting Information [Line Items]
Net Revenues	844			733			2,387	2,129
Hotel
Segment Reporting Information [Line Items]
Net Revenues	2,560			2,490			7,052	7,076
Hotel | Midwest and South
Segment Reporting Information [Line Items]
Net Revenues	2,369			2,267			6,638	6,573
Hotel | West
Segment Reporting Information [Line Items]
Net Revenues	191			223			414	503
Other operations, including contracted sports wagering
Segment Reporting Information [Line Items]
Net Revenues	9,657			2,371			16,974	11,575
Other operations, including contracted sports wagering | Midwest and South
Segment Reporting Information [Line Items]
Net Revenues	1,601			1,122			6,123	5,055
Other operations, including contracted sports wagering | West
Segment Reporting Information [Line Items]
Net Revenues	151			151			384	422
Other operations, including contracted sports wagering | Contracted Sports Wagering
Segment Reporting Information [Line Items]
Net Revenues	$ 7,905			$ 1,098			$ 10,467	$ 6,098

SEGMENT REPORTING AND DISAGGR_4

SEGMENT REPORTING AND DISAGGREGATED REVENUE - Selected Balance Sheet Data (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total Assets	$ 665,104	$ 595,329
Corporate and Other
Segment Reporting Information [Line Items]
Total Assets	13,109	48,569
Midwest and South | Operating Segments
Segment Reporting Information [Line Items]
Total Assets	287,358	194,033
West | Operating Segments
Segment Reporting Information [Line Items]
Total Assets	359,610	351,069
Contracted Sports Wagering | Operating Segments
Segment Reporting Information [Line Items]
Total Assets	$ 5,027	$ 1,658