Full House Resorts (FLL) 10-K 15 Mar 24 2023 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Mar. 13, 2024	Jun. 30, 2023
Document and Entity Information [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Entity File Number	001-32583
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 per Share
Trading Symbol	FLL
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Voluntary Filers	No
Entity Well-Known Seasoned Issuer	No
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	true
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		34,590,150
Entity Public Float			$ 218.4
Entity Central Index Key	0000891482
Current Fiscal Year End Date	--12-31
Document Fiscal Year End	2023
Document Fiscal Period Focus	FY
Amendment Flag	false
Auditor Name	Deloitte & Touche LLP
Auditor Firm ID	34
Auditor Location	Las Vegas, Nevada

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Revenues
Net revenues	$ 241,060	$ 163,281
Operating costs and expenses
Selling, general and administrative	85,746	59,706
Project development costs, net	53	228
Preopening costs	15,685	9,558
Depreciation and amortization	31,092	7,930
Loss on disposal of assets	7	42
Total operating costs and expenses	242,222	150,598
Operating loss	(1,162)	12,683
Other (expense) income
Interest expense, net	(22,977)	(22,988)
Loss on modification of debt		(4,530)
Gain on settlements	384
Total other expense	(22,593)	(27,518)
Loss before income taxes	(23,755)	(14,835)
Income tax expense (benefit)	1,149	(31)
Net loss	$ (24,904)	$ (14,804)
Basic loss per share (in dollars per share)	$ (0.72)	$ (0.43)
Diluted loss per share (in dollars per share)	$ (0.72)	$ (0.43)
Basic weighted average number of common shares outstanding (in shares)	34,519,993	34,354,847
Diluted weighted average number of common shares outstanding (in shares)	34,519,993	34,354,847
Casino
Revenues
Net revenues	$ 176,933	$ 113,876
Operating costs and expenses
Costs and expenses	68,061	39,788
Food and beverage
Revenues
Net revenues	33,980	26,494
Operating costs and expenses
Costs and expenses	33,240	26,372
Hotel
Revenues
Net revenues	9,428	9,282
Operating costs and expenses
Costs and expenses	4,840	4,806
Other operations, including contracted sports wagering
Revenues
Net revenues	20,719	13,629
Operating costs and expenses
Costs and expenses	$ 3,498	$ 2,168

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets
Cash and equivalents	$ 36,155	$ 56,589
Restricted cash	37,639	134,587
Accounts receivable, net of provision for credit losses of $1,189 and $249	5,332	4,082
Inventories	1,839	1,479
Prepaid expenses and other	3,674	6,184
Total current assets	84,639	202,921
Other long-term assets
Property and equipment, net	457,907	339,057
Operating lease right-of-use assets, net	44,704	15,771
Finance lease right-of-use assets, net	2,318	3,808
Goodwill	21,286	21,286
Other intangible assets, net	76,271	10,869
Deposits and other	1,332	1,617
Total Assets	688,457	595,329
Current liabilities
Accounts payable	12,794	4,602
Income taxes payable	489	0
Construction payable	20,667	30,279
Accrued payroll and related	4,097	3,784
Accrued interest	14,248	12,966
Other accrued expenses and current liabilities	19,779	9,964
Current portion of operating lease obligations	4,784	2,485
Current portion of finance lease obligation	1,694	1,581
Total current liabilities	78,552	65,661
Operating lease obligations, net of current portion	40,248	13,418
Finance lease obligations, net of current portion	2,705	4,727
Other long-term liabilities, net of current portion	16,075	0
Long-term debt, net	465,153	401,852
Deferred income taxes, net	1,684	1,024
Contract liabilities, net of current portion	6,192	8,856
Total liabilities	610,609	495,538
Commitments and contingencies (Note 9)
Stockholders' equity
Common stock, $0.0001 par value, 100,000,000 shares authorized; 35,302,549 and 35,302,549 shares issued and 34,590,150 and 34,407,654 shares outstanding	4	4
Additional paid-in capital	113,329	110,590
Treasury stock, 712,399 and 894,895 common shares	(869)	(1,091)
Accumulated deficit	(34,616)	(9,712)
Total stockholders' equity	77,848	99,791
Total liabilities and stockholders' equity	$ 688,457	$ 595,329

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
CONSOLIDATED BALANCE SHEETS
Accounts receivable reserves	$ 1,189	$ 249
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)	34,590,150	34,407,654
Treasury stock, common shares (in shares)	712,399	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	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]
Issuance of stock on options exercised and restricted stocks vested		(14)	$ 201		187
Issuance of stock on options exercised and restricted stocks vested (in shares)			(165)
Stock-based compensation		1,693			1,693
Net loss				(14,804)	(14,804)
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]
Issuance of stock on options exercised and restricted stocks vested		(143)	$ 222		79
Issuance of stock on options exercised and restricted stocks vested (in shares)			(183)
Stock-based compensation		2,882			2,882
Net loss				(24,904)	(24,904)
Balance at Dec. 31, 2023	$ 4	$ 113,329	$ (869)	$ (34,616)	$ 77,848
Balance (in shares) at Dec. 31, 2023	35,302		712

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash flows from operating activities:
Net loss	$ (24,904)	$ (14,804)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	31,092	7,930
Amortization of debt issuance costs, discounts and premiums	2,793	1,649
Non-cash change in ROU operating lease assets	3,586	3,397
Stock-based compensation	2,882	1,693
Loss on disposal of assets	7	42
Credit loss expense	940	(8)
Gain on settlement	(384)
Loss on modification of debt		4,530
Other operating activities	506	319
Deferred income taxes	660	(31)
Increases and decreases in operating assets and liabilities:
Accounts receivable	(2,190)	619
Prepaid expenses, inventories and other	2,150	(2,277)
Operating lease right-of-use assets		(386)
Income taxes payable	489
Operating lease liabilities	(3,390)	(3,509)
Contract liabilities	1,889	3,970
Accounts payable and other liabilities	6,219	1,243
Net cash provided by operating activities	22,345	4,377
Cash flows from investing activities:
Capital expenditures	(148,585)	(170,939)
Proceeds from insurance settlement related to property damage	355
Acquisition of intangible assets	(50,528)
Other		(1,175)
Net cash used in investing activities	(198,758)	(172,114)
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		2,000
Payment of debt discount and issuance costs	(6,493)	(7,945)
Borrowings under revolving credit facility	42,950
Repayment of revolving credit facility borrowings	(15,950)
Repayment of finance lease obligations	(1,477)	(514)
Proceeds from exercise of stock options	79	187
Other	(78)	(108)
Net cash provided by financing activities	59,031	93,620
Net decrease in cash, cash equivalents and restricted cash	(117,382)	(74,117)
Cash, cash equivalents and restricted cash, beginning of period	191,176	265,293
Cash, cash equivalents and restricted cash, end of period	73,794	191,176
Supplemental Cash Flow Disclosure:
Cash paid for interest, net of amounts capitalized	22,463	19,589
Supplemental Schedule of Non-Cash Investing and Financing Activities:
Accounts and construction payables related to property and equipment	22,507	30,995
Note payable incurred for asset acquisition	1,500
Accrued liability related to asset acquisition	14,905
Right-of-use assets obtained in exchange for operating lease liabilities	30,178	1,121
Financing leases		3,498
Operating lease right-of-use asset and liability remeasurements	2,341	$ 1,846
Financing leases Right-of-use asset and liability remeasurements	$ (150)

ORGANIZATION

ORGANIZATION	12 Months Ended
	Dec. 31, 2023
ORGANIZATION
ORGANIZATION	1. ORGANIZATION Formed as a Delaware corporation in 1987, Full House Resorts, Inc. owns, leases, operates, develops, manages, and/or invests in casinos and related hospitality and entertainment facilities. References in this document to “Full House,” the ”Company,” “we,” “our,” or “us” refer to Full House Resorts, Inc. and its subsidiaries, except where stated or the context otherwise indicates. The Company currently operates seven casinos: six on real estate that we own or lease and one located within a hotel owned by a third party. In December 2023, we began the phased opening of our newest property, Chamonix Casino Hotel (“Chamonix”), located adjacent to our existing Bronco Billy’s Casino and Hotel in Cripple Creek, Colorado. We are currently designing our permanent American Place casino destination, which will be built adjacent to a temporary facility that we opened in February 2023. We are currently permitted to operate the temporary American Place facility until August 2027. Additionally, we benefit from seven permitted sports wagering “skins” – three in Colorado, three in Indiana, and one in Illinois. Other companies currently operate the active online sports wagering websites under their brands, paying us a percentage of revenues, as defined, subject to annual minimum amounts. Regarding our remaining idle skins, we continue to evaluate whether to operate our remaining idle skins ourselves or to have other third parties operate them. However, there is no certainty that we will be able to enter into agreements with replacement operators or successfully operate the skins ourselves. 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 11 The following table presents selected information concerning our casino resort properties as of December 31, 2023: ​ ​ ​ ​ Segments and Properties ​ Locations Midwest & South ​ ​ American Place * ​ Waukegan, IL (northern suburb of Chicago) 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 Chamonix Casino Hotel * 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 __________ * The temporary American Place facility and Chamonix opened on February 17 and December 27, 2023, respectively.

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2023
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation and Accounting. The consolidated financial statements include the accounts of Full House and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated. Except when otherwise required by accounting principles generally accepted in the United States of America (“GAAP”) and disclosed herein, the Company measures all of its assets and liabilities on the historical cost basis of accounting. Use of Estimates. The consolidated financial statements have been prepared in conformity with GAAP. These principles require the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Fair Value and the Fair Value Input Hierarchy. Fair value measurements affect the Company’s accounting for net assets acquired in acquisition transactions and certain financial assets and liabilities. Fair value measurements are also used in its periodic assessments of long-lived tangible and intangible assets for possible impairment, including for property and equipment, goodwill, and other intangible assets. Fair value is defined as the expected price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. 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 include cash involved in operations and cash in excess of daily requirements that is invested in highly liquid, short-term investments with initial maturities of three months or less when purchased. Restricted cash balances consist of funds placed into a construction reserve account to fund the completion of the Chamonix construction project, in accordance with the Company’s debt covenants. Chamonix began its phased opening on December 27, 2023 and is expected to be fully complete in mid-2024. Accounts Receivable and Credit Risk. Accounts receivable consist primarily of casino, hotel, certain sports wagering contracts that pay us in arrears, and other receivables. Accounts receivable are typically non-interest bearing, recorded initially at cost, and are carried net of an appropriate reserve to approximate fair value. Loss reserves are estimated based on specific review of customer accounts including the customers’ willingness and ability to pay and nature of collateral, if any, as well as historical collection experience and current and expected economic and business conditions. Accounts are written off when management deems the account to be uncollectible and recoveries of accounts previously written off are recorded when received. ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ December 31, ​ ​ 2023 2022 Casino ​ $ 343 ​ $ 333 Hotel ​ ​ 1 ​ ​ 52 Trade Accounts ​ ​ 3,479 ​ ​ 1,114 Other Operations, excluding Contracted Sports Wagering ​ ​ 185 ​ ​ 175 Contracted Sports Wagering ​ ​ 1,932 ​ ​ 1,658 Other ​ ​ 581 ​ ​ 999 ​ ​ ​ 6,521 ​ ​ 4,331 Less: Provision for credit losses ​ ​ (1,189) ​ ​ (249) ​ ​ $ 5,332 ​ $ 4,082 ​ The following table shows the movement in the provision for credit losses recognized for accounts receivable that occurred during the period: ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ December 31, ​ ​ 2023 2022 Balance at January 1 ​ $ 249 ​ $ 257 Current period provision for credit losses ​ ​ 940 ​ ​ (8) Balance at December 31 ​ $ 1,189 ​ $ 249 ​ At December 31, 2023, estimated loss reserves include $1.0 million in connection with two online sports wagering agreements, which remain active in Colorado and Indiana as of this report date. Management continues to monitor economic conditions and forecasts in its evaluation of the adequacy of the recorded reserves and believes that, as of December 31, 2023, no significant concentrations of credit risk existed for which a reserve had not already been recorded. Inventories. Inventories consist primarily of food, beverage and retail items, and are stated at the lower of cost or net realizable value. Costs are determined using the first-in, first-out and the weighted average methods. Property and Equipment. Property and equipment are stated at cost and are capitalized and depreciated, while normal repairs and maintenance are expensed in the period incurred. A significant amount of the Company’s property and equipment was acquired through business combinations, and therefore, were recognized at fair value measured at the acquisition date. Gains or losses on dispositions of property and equipment are included in operating expenses, effectively as adjustments to depreciation estimates. Certain events or changes in circumstances may indicate that the recoverability of the carrying amount of property, plant and equipment should be assessed, including, among others, a significant decrease in market value, a significant change in the business climate in a particular market, or a current period operating or cash flow loss combined with historical losses or projected future losses. For assets to be held and used, the Company reviews for impairment whenever indicators of impairment exist. When such events or changes in circumstances are present, the Company estimates the future cash flows expected to result from the use of the asset (or asset group) and its eventual disposition. These estimated future cash flows are consistent with those we use in our internal planning. If the undiscounted cash flows exceed the carrying value, no impairment is indicated. If the sum of the expected future cash flows (undiscounted and without interest charges) is less than the carrying amount, then the Company would recognize an impairment loss based on the fair value of the asset, typically measured using a discounted cash flow model. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the assets or the term of the lease, whichever is appropriate under the circumstances. The Company determines the estimated useful lives based on our experience with similar assets, estimated usage of the asset, and industry practice. Whenever events or circumstances occur, which change the estimated useful life of an asset, the Company accounts for the change prospectively. Depreciation and amortization is provided over the following estimated useful lives: ​ ​ ​ ​ Estimated Class of Assets ​ Useful Lives Land improvements 10 to 18 years Buildings and improvements 3 to 44 years Furniture, fixtures and equipment 2 to 10 years ​ Capitalized Interest. Interest costs associated with major construction projects are capitalized and included in the cost of the projects. When no debt is incurred specifically for construction projects, interest is capitalized on amounts expended using the weighted average cost of the Company’s outstanding borrowings. Capitalization of interest ceases when the project is substantially complete or construction activity is suspended for more than a brief period. Leases. The Company determines if a contract is, or contains, a lease at inception or modification of the agreement. A contract is, or contains, a lease if there are identified assets and the right to control the use of an identified asset is conveyed for a period of time in exchange for consideration. Control over the use of the identified asset means that the lessee has both the right to obtain substantially all of the economic benefits from the use of the asset and the right to direct the use of the asset. 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, 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 on their own line, “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 by asset class for gaming-related equipment; as a result, the Company will not allocate contract consideration to the separate lease and non-lease components based on their relative standalone prices. 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. Goodwill and Indefinite-lived Intangible Assets. Goodwill represents the excess of the purchase price of Bronco Billy’s Casino and Hotel, Silver Slipper Casino and Hotel, and Stockman’s Casino over the estimated fair value of their net tangible and other intangible assets on the acquisition date, net of subsequent impairment charges, if any. The Company’s other indefinite-lived intangible assets primarily include certain license rights to conduct gaming in certain jurisdictions and trade names. Goodwill and other indefinite-lived intangible assets are not amortized, but are periodically tested for impairment. The impairment loss recognized is the amount by which the carrying amount exceeds the fair value. Tests of goodwill and indefinite-lived intangible assets start with a qualitative assessment to determine whether it is necessary to perform a quantitative test. Items that are considered in the qualitative assessment include, but are not limited to, the following: macroeconomic conditions, industry and market conditions and overall financial performance. If the results of the qualitative assessment indicate it is more likely than not that a reporting unit’s carrying value exceeds its fair value, or if the Company elects to bypass the qualitative assessment, a quantitative test is performed. If quantitative tests are performed, the Company estimates the fair value of the reporting unit and asset group using both income and market-based approaches. The evaluation of goodwill and other indefinite-lived intangible assets requires the use of estimates about future operating results, valuation multiples and discount rates to determine the estimated fair value. Changes in the assumptions can materially affect these estimates. Thus, to the extent that gaming volumes deteriorate in the near future, discount rates increase significantly, or reporting units do not meet projected performance, the Company could have impairments to record in the future and such impairments could be material. These tests for impairment are performed annually during the fourth quarter or when a triggering event occurs. Finite-lived Intangible Assets. The Company’s finite-lived intangible assets primarily include land lease acquisition costs and water rights. Finite-lived intangible assets are amortized over the shorter of their contractual or economic lives. The Company periodically evaluates the remaining useful lives of these intangible assets to determine whether events and circumstances warrant a revision to the remaining period of amortization and the possible need for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. If the sum of the expected future cash flows (undiscounted and without interest charges) is less than the carrying amount, then the Company would recognize an impairment loss. Debt Issuance Costs and Debt Discounts/Premiums. Debt issuance costs and debt discounts/premiums incurred in connection with the issuance of debt have been included as a component of the carrying amount of debt, and are amortized/accreted over the contractual term of the debt to interest expense, using the straight-line method, which approximates the effective interest method. When its existing debt agreements are determined to have been modified, the Company amortizes such costs to interest expense using the effective interest method over the terms of the modified debt agreement. Revenue Recognition: Accrued Club Points and Customer Loyalty Programs: Operating Revenues and Related Costs and Expenses. The Company’s revenues consist primarily of casino gaming, food and beverage, hotel, and other revenues (such as sports wagering, golf, RV park operations, and entertainment). The majority of its revenues are derived from casino gaming, principally slot machines. Gaming revenue is the difference between gaming wins and losses, not the total amount wagered. The Company accounts for its gaming transactions on a portfolio basis, as such wagers have similar characteristics and it would not be practical to view each wager 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 customers choose to earn points under its customer loyalty programs. The Company’s properties have separate customer loyalty programs: the Slipper Rewards Club, the Bronco Billy’s / Chamonix Casino’s Mile High Rewards Club, the Rising Star VIP Club, the Grand Lodge Players Advantage Club®, the Stockman’s Winner’s Club, and American Place’s Legacy Rewards. As points are accrued, the Company defers a portion of its gaming 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 under such loyalty programs for various benefits, such as “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. Liabilities based on the standalone retail value of such benefits was $0.8 million at December 31, 2023 and $0.7 million at December 31, 2022, and these amounts are included in “other accrued expenses and current liabilities” on the consolidated balance sheets. Deferred Revenues: Market Access Fees from Sports Wagering Agreements. ​ Indiana. Colorado. 10-year Illinois. eight-year 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 December 31, 2023, $4.9 million of such deferred revenue has been recognized during the year. Deferred revenues consisted of the following as discussed above: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ ​ ​ December 31, ​ Balance Sheet Location ​ 2023 2022 Deferred revenue, current ​ Other accrued expenses and current liabilities ​ $ 6,175 ​ $ 1,651 Deferred revenue, net of current portion ​ Contract liabilities, net of current portion ​ ​ 6,192 ​ ​ 8,856 ​ ​ ​ ​ $ 12,367 ​ $ 10,507 ​ ​ Other Revenues. The transaction price of rooms, food and beverage, and retail contracts is the net amount collected from the customer for such goods and services. The transaction price for such contracts is recorded as revenue when the good or service is transferred to the customer over their stay at the hotel or when the delivery is made for the food, beverage, retail and other contracts. Sales and usage-based taxes are excluded from revenues. Revenue by Source. The Company presents earned revenue as disaggregated by the type or nature of the good or service (casino, food and beverage, hotel, and other operations comprised mainly of retail, golf, entertainment, and contracted sports wagering) and by relevant geographic region within Note 11 . ​ Advertising Costs. Costs for advertising are expensed as incurred, or the first time the advertising takes place, and are included in selling, general and administrative expenses. Total advertising costs were $8.5 million and $2.7 million for the years ended December 31, 2023 and 2022, respectively. Project Development and Acquisition Costs. Project development and acquisition costs consist of amounts expended on the pursuit of new business opportunities and acquisitions, as well as other business development activities in the ordinary course of business, which are expensed as incurred. During 2023, a nominal amount was spent to explore the online casino space, as well as to find replacement operators for the Company’s three idle skins. In 2022, these costs were primarily associated with our efforts to successfully compete for the opportunity to develop American Place. Preopening costs. Preopening costs are related to the preopening phases of new ventures, in accordance with accounting standards regarding start-up activities, and are expensed as incurred. These costs consist of payroll, advertising, outside services, organizational costs and other expenses directly related to both the Chamonix and American Place developments. Stock-based Compensation. The Company has various stock-based compensation programs, which provide for equity awards including stock options, time-based restricted stock units (“RSUs”) and performance-based restricted stock units (“PSUs”). Stock-based compensation costs are measured at the grant date, based on the estimated fair value of the award using the Black-Scholes option pricing model for stock options, and based on the closing share price of the Company’s stock on the grant date for RSUs and PSUs. These costs are recognized as an expense on a straight-line basis over the recipient’s requisite service period (the vesting period of the award), net of forfeitures and cancellations, which are recognized as they occur, and are included within selling, general and administrative expense on the consolidated statements of operations. Estimated compensation costs for PSUs, in particular, reflect meeting certain growth-rate targets for the applicable year-to-date period and are subject to partial or full reversals if not completely met at year-end. Income Taxes. We classify deferred tax assets and liabilities, along with any related valuation allowance, as non-current on the consolidated balance sheets. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that included the enactment date. Valuation allowances are provided against DTAs when it is deemed more likely than not that some portion or all of the DTAs will not be realized within a reasonable time period. Our income tax returns are subject to examination by the Internal Revenue Service (“IRS”) and other tax authorities. Positions taken in tax returns are sometimes subject to uncertainty in the tax laws and may not ultimately be accepted by the IRS or other tax authorities. We assess our tax positions using a two-step process. A tax position is recognized if it meets a more-likely-than-not threshold, and is measured at the largest amount of benefit that is greater than 50 percent likely of being realized. Additionally, we recognize accrued interest and penalties, if any, related to unrecognized tax benefits in income tax expense. Reclassifications. To conform to the current-period presentation, the Company made certain minor financial statement presentation reclassifications to prior-period amounts. Such reclassifications had no effect on the previously reported results of operations or financial position. ​ Earnings (loss) per share. Earnings (loss) per share is computed by dividing net income (loss) applicable to common stock by the weighted-average number of common shares outstanding during the period. Diluted earnings per share reflects the additional dilution for all potentially-dilutive securities, including stock options, restricted stock and performance-based shares, using the treasury stock method. ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Year Ended ​ ​ December 31, ​ 2023 2022 Numerator: ​ ​ Net loss ─ basic ​ $ (24,904) ​ $ (14,804) Net loss ─ diluted ​ $ (24,904) ​ $ (14,804) ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ Weighted-average common shares ─ basic ​ 34,520 ​ 34,355 Potential dilution from share-based awards ​ ​ — ​ ​ — Weighted-average common and common share equivalents ─ diluted ​ 34,520 ​ 34,355 Anti-dilutive share-based awards excluded from the calculation of diluted loss per share ​ 4,015 ​ 3,710 ​ Accounting Pronouncements Measurement of Credit Losses on Financial Instruments. ASC 326 “Financial Instruments – Credit Losses (Topic 326): Measurements of Credit Losses on Financial Instruments” (“ASC 326”), which replaces the existing incurred loss model with a current expected credit loss (CECL) model that requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The Company adopted ASC 326 on January 1, 2023 , which did not have a material impact on its financial statements or accounting policies. The Company now utilizes a forward-looking current expected credit loss model for accounts receivable ASU 2023-09, Income Taxes, Topic 740, Improvements to Income Tax Disclosures (“Update 2023-09”) In December 2023, the FASB issued Update 2023-09 to improve income tax disclosure requirements, primarily related to rate reconciliations and income taxes paid. Update 2023-09 is effective for financial statements issued for annual periods beginning after December 15, 2024, with early adoption permitted. The Company is evaluating the impact of the adoption of Update 2023-09 to the consolidated financial statements. ASU 2023-07, Segment Reporting, Topic 280, Improvements to Reportable Segment Disclosures (“Update 2023-07”) In November 2023, the FASB issued Update 2023-07 to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. Update 2023-07 is to be applied retrospectively and is effective for financial statements issued for annual periods beginning after December 15, 2023, and interim periods beginning after December 15, 2024, with early adoption permitted. The Company is evaluating the impact of the adoption of Update 2023-07 to the consolidated financial statements. The Company believes that there are no other recently-issued accounting standards not yet effective that are currently likely to have a material impact on its financial statements.

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET	12 Months Ended
	Dec. 31, 2023
PROPERTY AND EQUIPMENT, NET
PROPERTY AND EQUIPMENT, NET	3. PROPERTY AND EQUIPMENT, NET Property and equipment, net consisted of the following: ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ December 31, ​ 2023 2022 Land and improvements ​ $ 37,601 ​ $ 26,477 Buildings and improvements ​ 256,722 ​ 120,732 Furniture and equipment ​ 88,522 ​ 51,336 Construction in progress ​ 188,841 ​ 227,006 ​ ​ 571,686 ​ 425,551 Less: Accumulated depreciation ​ (113,779) ​ (86,494) ​ ​ $ 457,907 ​ $ 339,057 ​ Property and equipment included assets under finance leases related to our hotel at Rising Star Casino Resort (see Note 7 ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ December 31, ​ ​ 2023 ​ 2022 Leased land and improvements ​ $ 215 ​ $ 215 Leased buildings and improvements ​ ​ 5,787 ​ ​ 5,787 Leased furniture and equipment (1) ​ ​ 1,133 ​ ​ 1,724 ​ ​ ​ 7,135 ​ ​ 7,726 Less: Accumulated amortization (1) ​ ​ (2,726) ​ ​ (3,160) ​ ​ $ 4,409 ​ $ 4,566 __________ (1) Amounts shown for December 31, 2023 are after the effects of $0.6 million in disposals made in the third quarter.

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES	12 Months Ended
	Dec. 31, 2023
GOODWILL AND OTHER INTANGIBLES
GOODWILL AND OTHER INTANGIBLES	4. GOODWILL AND OTHER INTANGIBLES Goodwill: The following table sets forth changes in the carrying value of goodwill by segment: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ ​ ​ ​ ​ ​ ​ Contracted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sports ​ ​ ​ ​ ​ Midwest & South ​ West ​ Wagering ​ Total Goodwill, Net Balance, January 1, 2022 ​ $ 14,671 ​ $ 6,615 ​ $ — ​ $ 21,286 Account activity ​ ​ — ​ ​ — ​ ​ — ​ ​ — Balance, December 31, 2022 ​ ​ 14,671 ​ ​ 6,615 ​ ​ — ​ ​ 21,286 Account activity ​ ​ — ​ ​ — ​ ​ — ​ ​ — Balance, December 31, 2023 ​ $ 14,671 ​ $ 6,615 ​ $ — ​ $ 21,286 ​ Other Intangible Assets: The following tables set forth changes in the carrying value of intangible assets other than goodwill: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ December 31, 2023 ​ Weighted Gross ​ ​ ​ ​ Other ​ ​ Useful Life ​ Carrying ​ ​ ​ Accumulated ​ Intangible ​ ​ (Years) ​ Value ​ Additions ​ Amortization ​ Assets, Net Land Lease and Water Rights 34.3 ​ $ 1,420 ​ $ — ​ $ (346) ​ $ 1,074 Development Agreement ​ 5.0 ​ ​ — ​ ​ 275 ​ ​ — ​ ​ 275 Gaming Licenses Indefinite ​ 7,843 ​ 65,155 ​ — ​ 72,998 Trade Names Indefinite ​ 1,800 ​ — ​ — ​ 1,800 Trademarks Indefinite ​ 121 ​ 3 ​ — ​ 124 ​ ​ ​ ​ $ 11,184 ​ $ 65,433 ​ $ (346) ​ $ 76,271 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ December 31, 2022 ​ Weighted Gross ​ ​ ​ ​ Other ​ ​ Useful Life ​ Carrying ​ ​ ​ Accumulated ​ Intangible ​ ​ (Years) ​ Value ​ Additions ​ Amortization ​ Assets, Net Land Lease and Water Rights 35.3 ​ $ 1,420 $ — $ (315) $ 1,105 Gaming Licenses Indefinite ​ 7,843 ​ — ​ — ​ 7,843 Trade Names Indefinite ​ 1,800 ​ — ​ — ​ 1,800 Trademarks Indefinite ​ 121 ​ — ​ — ​ 121 ​ ​ ​ ​ $ 11,184 ​ $ — ​ $ (315) ​ $ 10,869 ​ ​ There were no impairments to goodwill or other intangible assets during 2022 and 2023. Land Lease Acquisition Costs and Water Rights. Note 7 Development Agreement. 5-year Gaming Licenses. During 2023, a gaming license payment of $50.3 million was required to open American Place. At December 31, 2023, an additional $14.9 million was added to the estimated cost of such acquisition, reflecting the contingent component of the one-time gaming license fee in Illinois (see Note 9 Trade Names. Current and Future Amortization. ​ Future amortization expense for intangible assets is as follows: ​ ​ ​ ​ (In thousands) ​ ​ ​ ​ ​ ​ ​ For Years ending December 31, Amortization Expense 2024 ​ $ 77 2025 ​ 86 2026 ​ 86 2027 ​ 86 2028 ​ 86 Thereafter ​ 928 ​ ​ $ 1,349 ​

ACCRUED LIABILITIES

ACCRUED LIABILITIES	12 Months Ended
	Dec. 31, 2023
ACCRUED LIABILITIES
ACCRUED LIABILITIES	5. ACCRUED LIABILITIES Other accrued liabilities consisted of the following: ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ December 31, ​ ​ 2023 ​ 2022 Contract and contract-related liabilities: ​ ​ ​ ​ ​ ​ Players club points and progressive jackpots ​ $ 4,399 ​ $ 3,010 Outstanding chip liability ​ 527 ​ 416 Unpaid wagers and other ​ 338 ​ 122 Other gaming-related accruals ​ ​ 505 ​ ​ 421 Contract liabilities, current ​ ​ 6,175 ​ ​ 1,651 Other accrued liabilities: ​ ​ ​ ​ Gaming and other taxes ​ ​ 2,737 ​ ​ 1,497 Real estate and personal property taxes ​ ​ 3,048 ​ ​ 1,745 Professional fees ​ ​ 40 ​ ​ 232 Short term portion of note payable for asset acquisition ​ ​ 252 ​ ​ — Other ​ 1,758 ​ 870 ​ ​ $ 19,779 ​ $ 9,964 ​

LONG-TERM DEBT

LONG-TERM DEBT	12 Months Ended
	Dec. 31, 2023
LONG-TERM DEBT.
LONG-TERM DEBT	6. LONG-TERM DEBT Senior Secured Notes due 2028. On February 12, 2021, the Company refinanced all of its outstanding Senior Secured Notes due 2024 (the “Prior Notes”) with the issuance of $310 million aggregate principal amount of 8.25% Senior Secured Notes due 2028 (the “2028 Notes”). The net proceeds from the sale of the 2028 Notes were used to redeem all of the outstanding Prior Notes (including a 0.90% prepayment premium) and to repurchase all outstanding warrants. Additionally, $180 million of bond proceeds were initially placed into a construction reserve account to fund construction of Chamonix, which was later increased to $221 million in January 2022 to reflect an expansion of the project. On February 7, 2022, the Company closed a private offering for an additional $100 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 American Place facility, which the Company intends to operate while it designs and constructs its permanent 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 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 American Place, 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 (expected in early 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 7, 2022, the Company entered into a First Amendment to Credit Agreement with Capital One, N.A. (“Capital One”), which, among other things, increased the borrowing capacity under the Company’s Credit Agreement, dated as of March 31, 2021, from $15.0 million to $40.0 million. The amended $40.0 million senior secured revolving credit facility matures on March 31, 2026 and includes a letter of credit sub-facility. The senior secured revolving credit facility may be used for working capital and other ongoing general purposes. 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 the opening of Chamonix (as defined in the agreement), the interest rate per annum applicable to loans under the Credit Facility was 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%. Terms regarding the annual commitment fee, customary letter of credit fees, and repayment date of March 31, 2026, remain unchanged from the original Credit Agreement, dated as of March 31, 2021. 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 December 31, 2023, Company was in compliance with this financial covenant and $27.0 million of borrowings remain outstanding under the Credit Facility. Long-term debt consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ 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 ​ ​ (11,847) ​ ​ (8,148) ​ ​ $ 465,153 ​ $ 401,852 ​ Fair Value of Long-Term Debt. The estimated fair value of the Notes was approximately $423.0 million for December 31, 2023 and $360.6 million for December 31, 2022, which values were estimated using quoted market prices (Level 1 inputs). The fair value of the Credit Facility approximates its carrying amount, as it is revolving, variable rate debt, and is classified as a Level 2 measurement. Maturities of Long-Term Debt. As of December 31, 2023, future maturities under the Credit Facility and Notes are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving Credit ​ Senior Secured ​ ​ For Years ending December 31, Facility due 2026 Notes due 2028 Total 2024 ​ $ — ​ $ — ​ $ — 2025 ​ — ​ — ​ — 2026 ​ 27,000 ​ — ​ 27,000 2027 ​ — ​ — ​ — 2028 ​ — ​ 450,000 ​ 450,000 Thereafter ​ ​ — ​ ​ — ​ ​ — ​ ​ $ 27,000 ​ $ 450,000 ​ $ 477,000 ​ The following table summarizes information related to interest expense: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended (In thousands) ​ December 31, ​ 2023 2022 Interest expense (excluding bond fee amortization and discounts/premiums) ​ $ 39,860 ​ $ 33,496 Amortization of debt issuance costs and discounts/premiums ​ 2,793 ​ 1,649 Capitalized interest ​ (15,938) ​ (10,802) Interest income and other ​ ​ (3,738) ​ ​ (1,355) ​ ​ $ 22,977 ​ $ 22,988 ​

LEASES

LEASES	12 Months Ended
	Dec. 31, 2023
LEASES
LEASES	7. 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, as well as 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 98 years as of December 31, 2023. 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 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 Options 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. In the event that the Company sells or transfers either: (i) substantially all of the assets of Silver Slipper Casino Venture, LLC or (ii) its membership interests in Silver Slipper Casino Venture, LLC in its entirety, then the purchase price will increase to $17.1 million, plus the retained interest mentioned above. In either case, the Company also has an option to purchase a four-acre portion from the total 38 acres of leased land for $2.0 million in connection with the development of an owned hotel, which may be exercised at any time and would accordingly reduce the purchase price of the remaining land by $2.0 million. Bronco Billy’s / Chamonix Lease through January 2035 and Option to Purchase. three-year The Company’s related ROU asset and liability balances on its balance sheet factor in all renewal terms through January 2035, as the Company is deemed likely to exercise each renewal unless it exercises its purchase buyout right. Grand Lodge Casino Lease through December 2024. Note 6 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. We recognized $1.9 million of rent expense during 2023 and $1.8 million during 2022. Corporate Office Lease through January 2025. Finance Lease Rising Star Casino Hotel Lease through October 2027 and Option to Purchase. Note 3 The components of lease expense are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Year Ended ​ ​ Classification within ​ December 31, Lease Costs ​ Statement of Operations ​ 2023 2022 Operating leases: ​ ​ ​ Fixed/base rent Selling, General and Administrative Expenses ​ $ 7,933 ​ $ 4,833 Short-term payments ​ Selling, General and Administrative Expenses ​ ​ 22 ​ ​ 136 Variable payments Selling, General and Administrative Expenses ​ 1,213 ​ 1,366 Finance leases: ​ ​ ​ ​ ​ ​ ​ Amortization of leased assets Depreciation and Amortization ​ 1,496 ​ 266 Interest on lease liabilities Interest Expense, Net ​ 371 ​ 138 Total lease costs ​ ​ ​ $ 11,035 ​ $ 6,739 ​ Leases recorded on the balance sheet consist of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, Leases Balance Sheet Classification 2023 ​ 2022 Assets ​ ​ ​ ​ Operating lease assets Operating Lease Right-of-Use Assets, Net (1) $ 44,704 ​ $ 15,771 Finance lease assets Property and Equipment, Net (2) ​ 4,409 ​ 4,566 Finance lease assets ​ Finance Lease Right-of-Use Assets, Net (3) ​ ​ 2,318 ​ ​ 3,808 Total lease assets ​ $ 51,431 ​ $ 24,145 ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ Current ​ ​ ​ ​ ​ ​ Operating Current Portion of Operating Lease Obligations (1) ​ $ 4,784 ​ $ 2,485 Finance Current Portion of Finance Lease Obligations ​ 1,694 ​ 1,581 Noncurrent ​ ​ ​ ​ ​ ​ Operating Operating Lease Obligations, Net of Current Portion (1) ​ 40,248 ​ 13,418 Finance Finance Lease Obligations, Net of Current Portion ​ 2,705 ​ 4,727 Total lease liabilities ​ $ 49,431 ​ $ 22,211 __________ (1) The increases in operating lease assets and operating lease obligations are primarily due to the land lease for a portion of the American Place site. (2) Finance lease assets are recorded net of accumulated depreciation of $2.7 million (after the effects of $0.6 million in disposals) and $3.2 million as of December 31, 2023 and 2022, respectively. (3) 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 are summarized as follows: ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ ​ ​ ​ ​ ​ ​ Operating Finance Years Ending December 31, ​ Leases ​ Leases 2024 ​ $ 7,735 ​ $ 1,957 2025 ​ 5,722 ​ 1,721 2026 ​ 4,864 ​ 652 2027 ​ 4,515 ​ 489 2028 ​ 4,515 ​ — Thereafter ​ 312,066 ​ — Total future minimum lease payments ​ 339,417 ​ 4,819 Less: Amount representing interest ​ (294,385) ​ (420) Present value of lease liabilities ​ 45,032 ​ 4,399 Less: Current lease obligations ​ (4,784) ​ (1,694) Long-term lease obligations ​ $ 40,248 ​ $ 2,705 ​ ​ Other information related to lease term and discount rate is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, Lease Term and Discount Rate ​ 2023 ​ 2022 Weighted-average remaining lease term ​ ​ ​ Operating leases 67.9 years ​ 23.2 years Finance leases 2.8 years ​ 3.7 years Weighted-average discount rate ​ ​ ​ ​ ​ Operating leases 10.91 % ​ 9.73 % Finance leases 7.46 % ​ 7.08 % ​ ​ Supplemental cash flow information related to leases is as follows: ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) Year Ended ​ ​ December 31, Cash paid for amounts included in the measurement of lease liabilities: ​ 2023 ​ 2022 Operating cash flows for operating leases ​ $ 7,737 ​ $ 4,944 Operating cash flows for finance leases ​ $ 371 ​ $ 138 Financing cash flows for finance leases ​ $ 1,477 ​ $ 514 ​

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2023
INCOME TAXES
INCOME TAXES	8. INCOME TAXES The income tax expense (benefit) attributable to the Company’s loss before income taxes consisted of the following: ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Year Ended December 31, ​ 2023 2022 Current Taxes ​ ​ ​ ​ ​ ​ Federal ​ $ — ​ $ — State ​ 489 ​ — ​ ​ 489 ​ — Deferred Taxes ​ ​ Federal ​ (5,007) ​ (4,077) State ​ (3,108) ​ (1,279) Increase in valuation allowance ​ 8,775 ​ 5,325 ​ ​ 660 ​ (31) ​ ​ $ 1,149 ​ $ (31) ​ ​ A reconciliation of the federal income tax statutory rate and the Company’s effective tax rate is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Year Ended December 31, ​ ​ 2023 ​ 2022 Tax Rate Reconciliation Percent ​ Amount Percent ​ Amount Federal income tax benefit at U.S. statutory rate 21.0 % ​ $ (4,988) 21.0 % ​ $ (3,115) State taxes, net of federal benefit 11.0 % ​ (2,621) 8.6 % ​ (1,279) Change in valuation allowance (36.9) % ​ 8,775 (35.9) % ​ 5,325 Permanent differences (0.7) % ​ 168 (0.5) % ​ 77 Credits 0.8 % ​ (191) 0.7 % ​ (110) Other — % ​ 6 6.3 % ​ (929) ​ (4.8) % ​ $ 1,149 0.2 % ​ $ (31) ​ The Company’s deferred tax assets (liabilities) consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ December 31, ​ 2023 2022 Deferred tax assets: ​ ​ ​ ​ ​ ​ Deferred compensation ​ $ 2,452 ​ $ 1,673 Intangible assets and amortization ​ 6,071 ​ 3,972 Net operating loss carry-forwards ​ 12,158 ​ 8,364 Accrued expenses ​ 804 ​ 603 Credits ​ 1,152 ​ 916 Loan Fees ​ ​ 1,269 ​ ​ 1,206 Interest limitation ​ 4,418 ​ 1,668 Lease liabilities ​ ​ 12,085 ​ ​ 4,718 Deferred revenues ​ ​ 1,781 ​ ​ 789 Valuation allowance ​ (23,966) ​ (15,191) Other ​ ​ 354 ​ ​ 144 ​ ​ 18,578 ​ 8,862 Deferred tax liabilities: ​ ​ Depreciation of fixed assets ​ (1,777) ​ (423) Amortization of indefinite-lived intangibles ​ (5,621) ​ (4,021) Right-of-use assets ​ ​ (12,033) ​ ​ (4,739) Other ​ (831) ​ (703) ​ ​ (20,262) ​ (9,886) ​ ​ $ (1,684) ​ $ (1,024) ​ As of December 31, 2023, the Company had federal net operating loss carryforwards totaling $26.0 million and state tax carryforwards of $137.0 million. In general, our federal tax net operating loss carryforwards can be carried forward indefinitely and our state tax carryforwards can be carried forward 20 years. The Company also has general business credits of $1.2 million, which begin to expire in 2035. In assessing the realizability of its deferred tax assets (“DTAs”), the Company considered whether it is more likely than not that some portion or all of the DTAs will not be realized. The ultimate realization of DTAs is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. The Company considered all of the available positive and negative evidence when determining the need for a valuation allowance, including, but not limited to, the scheduled reversal of existing deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. As of December 31, 2023, the Company continues to provide a valuation allowance against its DTAs that cannot be offset by existing deferred tax liabilities. In accordance with ASC 740, this assessment has taken into consideration the jurisdictions in which these DTAs reside. The valuation allowance against DTAs has no effect on the actual taxes paid or owed by the Company. In the future, if it is determined that we meet the more-likely-than-not threshold of utilizing our deferred tax assets as required under ASC 740, we may reverse some or all of our valuation allowance. We will continue to evaluate the need for the valuation allowance during each interim period in 2024. Should net income improve in the future, the valuation allowance could be reversed by the end of 2024, absent any unforeseen impact to our operations. ​ The Company’s utilization of net operating loss (“NOL”) and the general business tax credit carryforwards may be subject to an annual limitation under Sections 382 and 383 of the Internal Revenue Code of 1986 (the “IRC”), and similar state provisions due to ownership changes that may have occurred or that could occur in the future. These ownership changes may limit the amount of NOL and tax credit carryforwards that can be utilized annually to offset future taxable income and tax, respectively. In general, an ownership change, as defined by IRC Sections 382 and 383, results from transactions increasing ownership of certain stockholders or public groups in the stock of the corporation by more than 50 percentage points over a three-year period. The Company has completed a Section 382 analysis as of the date of this report and determined that it is more likely than not that there have not been any of such greater-than-50% ownership changes within a three-year period during the last five years that would require an analysis of any potential limitation. Management has made an annual analysis of its federal and state tax returns and concluded that the Company has no recordable liability, as of December 31, 2023 or 2022, for unrecognized tax benefits as a result of uncertain tax positions taken. The Company files income tax returns in the U.S. federal jurisdiction and various state jurisdictions. The Company is generally not subject to federal or state examination for periods prior to December 31, 2020. However, as the Company utilizes its NOLs, prior periods can be subject to examination.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2023
COMMITMENTS AND CONTINGENCIES.
COMMITMENTS AND CONTINGENCIES.	9. 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 our financial position, results of operations and cash flows. Contingent Gaming License Fees in Illinois As required for its gaming licensure at 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 ​ As of December 31, 2023, management accrued for a long-term obligation, discounted at $14.9 million (with a corresponding increase to the Illinois gaming license valuation), in order to reflect performance of gaming operations at American Place during the year, net of $35.0 million that the Company paid in Position Fees. ​ Defined Contribution Plan The Company sponsors a defined contribution plan for all eligible employees providing voluntary contributions by eligible employees and matching contributions made by the Company. Matching contributions made by the Company were $0.3 million for 2023, and $0.2 million for 2022, excluding nominal administrative expenses. For both years, the Company’s employer matching contribution rate was at 50% and up to 4% of eligible compensation. ​ Liquidity, Concentrations and Economic Risks and Uncertainties The Company carries cash on deposit with financial institutions that may be in excess of federally-insured limits. The extent of any loss that might be incurred as a result of uninsured deposits in the event of a future failure of a bank or other financial institution, if any, is not subject to estimation at this time.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2023
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION	10. STOCK-BASED COMPENSATION 2015 Equity Incentive Plan. 10 Performance-Based Shares. one Restricted Stock Awards. As of December 31, 2023, the Company had 671,041 stock-based awards authorized by stockholders and available for grant from the 2015 Plan. Stock Options. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ ​ ​ ​ Weighted ​ Remaining ​ ​ ​ ​ ​ Number ​ Average ​ Contractual ​ Aggregate ​ ​ of Stock ​ Exercise ​ Term ​ Intrinsic ​ ​ Options ​ Price ​ (in years) ​ Value Options outstanding at January 1, 2023 3,503,235 ​ $ 2.80 ​ Granted 350,754 ​ 7.40 ​ Exercised (56,762) ​ 1.40 ​ Canceled/Forfeited (20,000) ​ 6.88 ​ Expired (20,000) ​ 3.22 ​ Options outstanding at December 31, 2023 3,757,227 ​ $ 3.22 4.31 ​ $ 10,280,758 Options exercisable at December 31, 2023 3,059,868 ​ $ 2.27 3.31 ​ $ 10,221,180 ​ ​ Compensation Cost. ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Year Ended ​ ​ December 31, Compensation Expense ​ 2023 ​ 2022 Stock options ​ $ 1,517 ​ $ 1,150 Restricted and performance-based shares ​ 1,365 ​ 543 ​ ​ $ 2,882 ​ $ 1,693 ​ As of December 31, 2023, there was approximately $2.1 million of unrecognized compensation cost related to unvested stock options granted by the Company, which is expected to be recognized over a weighted-average period of 1.9 years. As of such date, there was also $1.3 million of unrecognized compensation cost related to unvested restricted and performance shares, which is expected to be recognized over a weighted-average period of 1.2 years. The Company estimates the fair value of each stock option award on the grant date using the Black-Scholes valuation model. Option valuation models require the input of highly subjective assumptions, and changes in assumptions used can materially affect the fair value estimate. Option valuation weighted-average assumptions were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2023 ​ 2022 Expected volatility 69.54 % ​ 68.38 % Expected dividend yield — % ​ — % Expected term (in years) 6.00 ​ 6.00 ​ Weighted average risk-free rate 3.72 % ​ 2.56 % ​ Expected volatility is based on the historical volatility of our stock price. Dividend yield is based on the estimate of annual dividends expected to be paid at the time of the grant. The expected term considers the contractual term of the option as well as historical exercise and forfeiture behavior. The risk-free interest rate is based on the rates in effect on the grant date for U.S. Treasury instruments with maturities matching the relevant expected term of the award. Therefore, the weighted-average grant date fair value per share of options granted is as follows for 2022 and 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ 2023 ​ 2022 Weighted average grant date fair value ​ $ 4.79 ​ $ 4.39 ​

SEGMENT REPORTING AND DISAGGREG

SEGMENT REPORTING AND DISAGGREGATED REVENUE	12 Months Ended
	Dec. 31, 2023
SEGMENT REPORTING AND DISAGGREGATED REVENUE
SEGMENT REPORTING AND DISAGGREGATED REVENUE	11. 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 profitability 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, certain 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. The following tables present the Company’s segment information: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Year Ended December 31, 2023 ​ ​ ​ ​ ​ ​ Contracted ​ ​ ​ ​ ​ ​ ​ ​ Sports ​ ​ ​ ​ Midwest & South ​ West ​ Wagering ​ Total Revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Casino ​ $ 145,391 ​ $ 31,542 ​ $ — ​ $ 176,933 Food and beverage ​ 30,762 ​ 3,218 ​ — ​ 33,980 Hotel ​ 8,792 ​ 636 ​ — ​ 9,428 Other operations, ​ 7,413 ​ 492 ​ 12,814 ​ 20,719 ​ ​ $ 192,358 ​ $ 35,888 ​ $ 12,814 ​ $ 241,060 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Adjusted Segment EBITDA ​ $ 39,028 ​ $ 2,408 ​ $ 11,663 ​ $ 53,099 Other operating costs and expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation and amortization ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (31,092) Corporate expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (4,542) Project development costs ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (53) Preopening costs ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (15,685) Loss on disposal of assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (7) Stock-based compensation ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (2,882) Operating loss ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1,162) Other (expense) income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest expense, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (22,977) Gain on settlements ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 384 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (22,593) Loss before income taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (23,755) Income tax expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1,149 Net loss ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ (24,904) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Year Ended December 31, 2022 ​ ​ ​ ​ ​ ​ Contracted ​ ​ ​ ​ ​ ​ ​ ​ Sports ​ ​ ​ ​ Midwest & South ​ West ​ Wagering ​ Total Revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Casino ​ $ 81,681 ​ $ 32,195 ​ $ — ​ $ 113,876 Food and beverage ​ 23,717 ​ 2,777 ​ — ​ 26,494 Hotel ​ 8,650 ​ 632 ​ — ​ 9,282 Other operations, ​ 5,902 ​ 531 ​ 7,196 ​ 13,629 ​ ​ $ 119,950 ​ $ 36,135 ​ $ 7,196 ​ $ 163,281 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Adjusted Segment EBITDA ​ $ 26,376 ​ $ 4,220 ​ $ 7,127 ​ $ 37,723 Other operating costs and expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation and amortization ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (7,930) Corporate expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (5,589) Project development costs ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (228) Preopening costs ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (9,558) Loss on disposal of assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (42) Stock-based compensation ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1,693) Operating income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 12,683 Other expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest expense, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (22,988) Loss on modification of debt ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (4,530) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (27,518) Loss before income taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (14,835) Income tax benefit ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (31) Net loss ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ (14,804) ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ December 31, ​ 2023 2022 Total Assets ​ ​ ​ ​ ​ ​ Midwest & South ​ $ 298,072 ​ $ 194,033 West ​ 372,875 ​ 351,069 Contracted Sports Wagering ​ ​ 977 ​ ​ 1,658 Corporate and Other ​ 16,533 ​ 48,569 ​ ​ $ 688,457 ​ $ 595,329 ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ December 31, ​ 2023 2022 Property and Equipment, net ​ ​ ​ ​ ​ ​ Midwest & South ​ $ 152,106 ​ $ 150,214 West ​ 305,528 ​ 188,449 Contracted Sports Wagering ​ ​ — ​ ​ — Corporate and Other ​ 273 ​ 394 ​ ​ $ 457,907 ​ $ 339,057 ​

BASIS OF PRESENTATION AND SUMMA

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2023
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES
Principles of Consolidation and Accounting	Principles of Consolidation and Accounting. The consolidated financial statements include the accounts of Full House and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated. Except when otherwise required by accounting principles generally accepted in the United States of America (“GAAP”) and disclosed herein, the Company measures all of its assets and liabilities on the historical cost basis of accounting.
Use of Estimates	Use of Estimates. The consolidated financial statements have been prepared in conformity with GAAP. These principles require the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Fair Value and the Fair Value Input Hierarchy	Fair Value and the Fair Value Input Hierarchy. Fair value measurements affect the Company’s accounting for net assets acquired in acquisition transactions and certain financial assets and liabilities. Fair value measurements are also used in its periodic assessments of long-lived tangible and intangible assets for possible impairment, including for property and equipment, goodwill, and other intangible assets. Fair value is defined as the expected price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. 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. Cash equivalents include cash involved in operations and cash in excess of daily requirements that is invested in highly liquid, short-term investments with initial maturities of three months or less when purchased. Restricted cash balances consist of funds placed into a construction reserve account to fund the completion of the Chamonix construction project, in accordance with the Company’s debt covenants. Chamonix began its phased opening on December 27, 2023 and is expected to be fully complete in mid-2024.
Accounts Receivable and Credit Risk	Accounts Receivable and Credit Risk. Accounts receivable consist primarily of casino, hotel, certain sports wagering contracts that pay us in arrears, and other receivables. Accounts receivable are typically non-interest bearing, recorded initially at cost, and are carried net of an appropriate reserve to approximate fair value. Loss reserves are estimated based on specific review of customer accounts including the customers’ willingness and ability to pay and nature of collateral, if any, as well as historical collection experience and current and expected economic and business conditions. Accounts are written off when management deems the account to be uncollectible and recoveries of accounts previously written off are recorded when received. ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ December 31, ​ ​ 2023 2022 Casino ​ $ 343 ​ $ 333 Hotel ​ ​ 1 ​ ​ 52 Trade Accounts ​ ​ 3,479 ​ ​ 1,114 Other Operations, excluding Contracted Sports Wagering ​ ​ 185 ​ ​ 175 Contracted Sports Wagering ​ ​ 1,932 ​ ​ 1,658 Other ​ ​ 581 ​ ​ 999 ​ ​ ​ 6,521 ​ ​ 4,331 Less: Provision for credit losses ​ ​ (1,189) ​ ​ (249) ​ ​ $ 5,332 ​ $ 4,082 ​ The following table shows the movement in the provision for credit losses recognized for accounts receivable that occurred during the period: ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ December 31, ​ ​ 2023 2022 Balance at January 1 ​ $ 249 ​ $ 257 Current period provision for credit losses ​ ​ 940 ​ ​ (8) Balance at December 31 ​ $ 1,189 ​ $ 249 ​ At December 31, 2023, estimated loss reserves include $1.0 million in connection with two online sports wagering agreements, which remain active in Colorado and Indiana as of this report date. Management continues to monitor economic conditions and forecasts in its evaluation of the adequacy of the recorded reserves and believes that, as of December 31, 2023, no significant concentrations of credit risk existed for which a reserve had not already been recorded.
Inventories	Inventories. Inventories consist primarily of food, beverage and retail items, and are stated at the lower of cost or net realizable value. Costs are determined using the first-in, first-out and the weighted average methods.
Property and Equipment	Property and Equipment. Property and equipment are stated at cost and are capitalized and depreciated, while normal repairs and maintenance are expensed in the period incurred. A significant amount of the Company’s property and equipment was acquired through business combinations, and therefore, were recognized at fair value measured at the acquisition date. Gains or losses on dispositions of property and equipment are included in operating expenses, effectively as adjustments to depreciation estimates. Certain events or changes in circumstances may indicate that the recoverability of the carrying amount of property, plant and equipment should be assessed, including, among others, a significant decrease in market value, a significant change in the business climate in a particular market, or a current period operating or cash flow loss combined with historical losses or projected future losses. For assets to be held and used, the Company reviews for impairment whenever indicators of impairment exist. When such events or changes in circumstances are present, the Company estimates the future cash flows expected to result from the use of the asset (or asset group) and its eventual disposition. These estimated future cash flows are consistent with those we use in our internal planning. If the undiscounted cash flows exceed the carrying value, no impairment is indicated. If the sum of the expected future cash flows (undiscounted and without interest charges) is less than the carrying amount, then the Company would recognize an impairment loss based on the fair value of the asset, typically measured using a discounted cash flow model. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the assets or the term of the lease, whichever is appropriate under the circumstances. The Company determines the estimated useful lives based on our experience with similar assets, estimated usage of the asset, and industry practice. Whenever events or circumstances occur, which change the estimated useful life of an asset, the Company accounts for the change prospectively. Depreciation and amortization is provided over the following estimated useful lives: ​ ​ ​ ​ Estimated Class of Assets ​ Useful Lives Land improvements 10 to 18 years Buildings and improvements 3 to 44 years Furniture, fixtures and equipment 2 to 10 years
Capitalized Interest	Capitalized Interest. Interest costs associated with major construction projects are capitalized and included in the cost of the projects. When no debt is incurred specifically for construction projects, interest is capitalized on amounts expended using the weighted average cost of the Company’s outstanding borrowings. Capitalization of interest ceases when the project is substantially complete or construction activity is suspended for more than a brief period.
Leases	Leases. The Company determines if a contract is, or contains, a lease at inception or modification of the agreement. A contract is, or contains, a lease if there are identified assets and the right to control the use of an identified asset is conveyed for a period of time in exchange for consideration. Control over the use of the identified asset means that the lessee has both the right to obtain substantially all of the economic benefits from the use of the asset and the right to direct the use of the asset. 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, 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 on their own line, “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 by asset class for gaming-related equipment; as a result, the Company will not allocate contract consideration to the separate lease and non-lease components based on their relative standalone prices. 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.
Goodwill and Indefinite-lived Intangible Assets	Goodwill and Indefinite-lived Intangible Assets. Goodwill represents the excess of the purchase price of Bronco Billy’s Casino and Hotel, Silver Slipper Casino and Hotel, and Stockman’s Casino over the estimated fair value of their net tangible and other intangible assets on the acquisition date, net of subsequent impairment charges, if any. The Company’s other indefinite-lived intangible assets primarily include certain license rights to conduct gaming in certain jurisdictions and trade names. Goodwill and other indefinite-lived intangible assets are not amortized, but are periodically tested for impairment. The impairment loss recognized is the amount by which the carrying amount exceeds the fair value. Tests of goodwill and indefinite-lived intangible assets start with a qualitative assessment to determine whether it is necessary to perform a quantitative test. Items that are considered in the qualitative assessment include, but are not limited to, the following: macroeconomic conditions, industry and market conditions and overall financial performance. If the results of the qualitative assessment indicate it is more likely than not that a reporting unit’s carrying value exceeds its fair value, or if the Company elects to bypass the qualitative assessment, a quantitative test is performed. If quantitative tests are performed, the Company estimates the fair value of the reporting unit and asset group using both income and market-based approaches. The evaluation of goodwill and other indefinite-lived intangible assets requires the use of estimates about future operating results, valuation multiples and discount rates to determine the estimated fair value. Changes in the assumptions can materially affect these estimates. Thus, to the extent that gaming volumes deteriorate in the near future, discount rates increase significantly, or reporting units do not meet projected performance, the Company could have impairments to record in the future and such impairments could be material. These tests for impairment are performed annually during the fourth quarter or when a triggering event occurs.
Finite-lived Intangible Assets	Finite-lived Intangible Assets. The Company’s finite-lived intangible assets primarily include land lease acquisition costs and water rights. Finite-lived intangible assets are amortized over the shorter of their contractual or economic lives. The Company periodically evaluates the remaining useful lives of these intangible assets to determine whether events and circumstances warrant a revision to the remaining period of amortization and the possible need for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. If the sum of the expected future cash flows (undiscounted and without interest charges) is less than the carrying amount, then the Company would recognize an impairment loss.
Debt Issuance Costs and Debt Discounts	Debt Issuance Costs and Debt Discounts/Premiums. Debt issuance costs and debt discounts/premiums incurred in connection with the issuance of debt have been included as a component of the carrying amount of debt, and are amortized/accreted over the contractual term of the debt to interest expense, using the straight-line method, which approximates the effective interest method. When its existing debt agreements are determined to have been modified, the Company amortizes such costs to interest expense using the effective interest method over the terms of the modified debt agreement.
Revenue Recognition	Revenue Recognition: Accrued Club Points and Customer Loyalty Programs: Operating Revenues and Related Costs and Expenses. The Company’s revenues consist primarily of casino gaming, food and beverage, hotel, and other revenues (such as sports wagering, golf, RV park operations, and entertainment). The majority of its revenues are derived from casino gaming, principally slot machines. Gaming revenue is the difference between gaming wins and losses, not the total amount wagered. The Company accounts for its gaming transactions on a portfolio basis, as such wagers have similar characteristics and it would not be practical to view each wager 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 customers choose to earn points under its customer loyalty programs. The Company’s properties have separate customer loyalty programs: the Slipper Rewards Club, the Bronco Billy’s / Chamonix Casino’s Mile High Rewards Club, the Rising Star VIP Club, the Grand Lodge Players Advantage Club®, the Stockman’s Winner’s Club, and American Place’s Legacy Rewards. As points are accrued, the Company defers a portion of its gaming 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 under such loyalty programs for various benefits, such as “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. Liabilities based on the standalone retail value of such benefits was $0.8 million at December 31, 2023 and $0.7 million at December 31, 2022, and these amounts are included in “other accrued expenses and current liabilities” on the consolidated balance sheets. Deferred Revenues: Market Access Fees from Sports Wagering Agreements. ​ Indiana. Colorado. 10-year Illinois. eight-year 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 December 31, 2023, $4.9 million of such deferred revenue has been recognized during the year. Deferred revenues consisted of the following as discussed above: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ ​ ​ December 31, ​ Balance Sheet Location ​ 2023 2022 Deferred revenue, current ​ Other accrued expenses and current liabilities ​ $ 6,175 ​ $ 1,651 Deferred revenue, net of current portion ​ Contract liabilities, net of current portion ​ ​ 6,192 ​ ​ 8,856 ​ ​ ​ ​ $ 12,367 ​ $ 10,507 ​ ​ Other Revenues. The transaction price of rooms, food and beverage, and retail contracts is the net amount collected from the customer for such goods and services. The transaction price for such contracts is recorded as revenue when the good or service is transferred to the customer over their stay at the hotel or when the delivery is made for the food, beverage, retail and other contracts. Sales and usage-based taxes are excluded from revenues. Revenue by Source. The Company presents earned revenue as disaggregated by the type or nature of the good or service (casino, food and beverage, hotel, and other operations comprised mainly of retail, golf, entertainment, and contracted sports wagering) and by relevant geographic region within Note 11 .
Advertising Costs	Advertising Costs. Costs for advertising are expensed as incurred, or the first time the advertising takes place, and are included in selling, general and administrative expenses. Total advertising costs were $8.5 million and $2.7 million for the years ended December 31, 2023 and 2022, respectively.
Project Development and Acquisition Costs	Project Development and Acquisition Costs. Project development and acquisition costs consist of amounts expended on the pursuit of new business opportunities and acquisitions, as well as other business development activities in the ordinary course of business, which are expensed as incurred. During 2023, a nominal amount was spent to explore the online casino space, as well as to find replacement operators for the Company’s three idle skins. In 2022, these costs were primarily associated with our efforts to successfully compete for the opportunity to develop American Place.
Preopening costs	Preopening costs. Preopening costs are related to the preopening phases of new ventures, in accordance with accounting standards regarding start-up activities, and are expensed as incurred. These costs consist of payroll, advertising, outside services, organizational costs and other expenses directly related to both the Chamonix and American Place developments.
Share-based Compensation	Stock-based Compensation. The Company has various stock-based compensation programs, which provide for equity awards including stock options, time-based restricted stock units (“RSUs”) and performance-based restricted stock units (“PSUs”). Stock-based compensation costs are measured at the grant date, based on the estimated fair value of the award using the Black-Scholes option pricing model for stock options, and based on the closing share price of the Company’s stock on the grant date for RSUs and PSUs. These costs are recognized as an expense on a straight-line basis over the recipient’s requisite service period (the vesting period of the award), net of forfeitures and cancellations, which are recognized as they occur, and are included within selling, general and administrative expense on the consolidated statements of operations. Estimated compensation costs for PSUs, in particular, reflect meeting certain growth-rate targets for the applicable year-to-date period and are subject to partial or full reversals if not completely met at year-end.
Income Taxes	Income Taxes. We classify deferred tax assets and liabilities, along with any related valuation allowance, as non-current on the consolidated balance sheets. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that included the enactment date. Valuation allowances are provided against DTAs when it is deemed more likely than not that some portion or all of the DTAs will not be realized within a reasonable time period. Our income tax returns are subject to examination by the Internal Revenue Service (“IRS”) and other tax authorities. Positions taken in tax returns are sometimes subject to uncertainty in the tax laws and may not ultimately be accepted by the IRS or other tax authorities. We assess our tax positions using a two-step process. A tax position is recognized if it meets a more-likely-than-not threshold, and is measured at the largest amount of benefit that is greater than 50 percent likely of being realized. Additionally, we recognize accrued interest and penalties, if any, related to unrecognized tax benefits in income tax expense.
Reclassifications	Reclassifications. To conform to the current-period presentation, the Company made certain minor financial statement presentation reclassifications to prior-period amounts. Such reclassifications had no effect on the previously reported results of operations or financial position.
Earnings (loss) per share	Earnings (loss) per share. Earnings (loss) per share is computed by dividing net income (loss) applicable to common stock by the weighted-average number of common shares outstanding during the period. Diluted earnings per share reflects the additional dilution for all potentially-dilutive securities, including stock options, restricted stock and performance-based shares, using the treasury stock method. ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Year Ended ​ ​ December 31, ​ 2023 2022 Numerator: ​ ​ Net loss ─ basic ​ $ (24,904) ​ $ (14,804) Net loss ─ diluted ​ $ (24,904) ​ $ (14,804) ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ Weighted-average common shares ─ basic ​ 34,520 ​ 34,355 Potential dilution from share-based awards ​ ​ — ​ ​ — Weighted-average common and common share equivalents ─ diluted ​ 34,520 ​ 34,355 Anti-dilutive share-based awards excluded from the calculation of diluted loss per share ​ 4,015 ​ 3,710 ​
New Accounting Pronouncement Implemented	Accounting Pronouncements Measurement of Credit Losses on Financial Instruments. ASC 326 “Financial Instruments – Credit Losses (Topic 326): Measurements of Credit Losses on Financial Instruments” (“ASC 326”), which replaces the existing incurred loss model with a current expected credit loss (CECL) model that requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The Company adopted ASC 326 on January 1, 2023 , which did not have a material impact on its financial statements or accounting policies. The Company now utilizes a forward-looking current expected credit loss model for accounts receivable ASU 2023-09, Income Taxes, Topic 740, Improvements to Income Tax Disclosures (“Update 2023-09”) In December 2023, the FASB issued Update 2023-09 to improve income tax disclosure requirements, primarily related to rate reconciliations and income taxes paid. Update 2023-09 is effective for financial statements issued for annual periods beginning after December 15, 2024, with early adoption permitted. The Company is evaluating the impact of the adoption of Update 2023-09 to the consolidated financial statements. ASU 2023-07, Segment Reporting, Topic 280, Improvements to Reportable Segment Disclosures (“Update 2023-07”) In November 2023, the FASB issued Update 2023-07 to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. Update 2023-07 is to be applied retrospectively and is effective for financial statements issued for annual periods beginning after December 15, 2023, and interim periods beginning after December 15, 2024, with early adoption permitted. The Company is evaluating the impact of the adoption of Update 2023-07 to the consolidated financial statements. The Company believes that there are no other recently-issued accounting standards not yet effective that are currently likely to have a material impact on its financial statements.

ORGANIZATION (Tables)

ORGANIZATION (Tables)	12 Months Ended
	Dec. 31, 2023
ORGANIZATION
Schedule of Properties	​ ​ ​ ​ Segments and Properties ​ Locations Midwest & South ​ ​ American Place * ​ Waukegan, IL (northern suburb of Chicago) 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 Chamonix Casino Hotel * 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 __________ * The temporary American Place facility and Chamonix opened on February 17 and December 27, 2023, respectively.

BASIS OF PRESENTATION AND SIG_2

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2023
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES
Schedule of Accounts receivable	​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ December 31, ​ ​ 2023 2022 Casino ​ $ 343 ​ $ 333 Hotel ​ ​ 1 ​ ​ 52 Trade Accounts ​ ​ 3,479 ​ ​ 1,114 Other Operations, excluding Contracted Sports Wagering ​ ​ 185 ​ ​ 175 Contracted Sports Wagering ​ ​ 1,932 ​ ​ 1,658 Other ​ ​ 581 ​ ​ 999 ​ ​ ​ 6,521 ​ ​ 4,331 Less: Provision for credit losses ​ ​ (1,189) ​ ​ (249) ​ ​ $ 5,332 ​ $ 4,082
Credit losses recognized for accounts receivable	​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ December 31, ​ ​ 2023 2022 Balance at January 1 ​ $ 249 ​ $ 257 Current period provision for credit losses ​ ​ 940 ​ ​ (8) Balance at December 31 ​ $ 1,189 ​ $ 249
Schedule of estimated useful lives	Depreciation and amortization is provided over the following estimated useful lives: ​ ​ ​ ​ Estimated Class of Assets ​ Useful Lives Land improvements 10 to 18 years Buildings and improvements 3 to 44 years Furniture, fixtures and equipment 2 to 10 years
Schedule of Deferred revenues	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ ​ ​ December 31, ​ Balance Sheet Location ​ 2023 2022 Deferred revenue, current ​ Other accrued expenses and current liabilities ​ $ 6,175 ​ $ 1,651 Deferred revenue, net of current portion ​ Contract liabilities, net of current portion ​ ​ 6,192 ​ ​ 8,856 ​ ​ ​ ​ $ 12,367 ​ $ 10,507
Schedule of Earnings Per Share, Basic and Diluted	​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Year Ended ​ ​ December 31, ​ 2023 2022 Numerator: ​ ​ Net loss ─ basic ​ $ (24,904) ​ $ (14,804) Net loss ─ diluted ​ $ (24,904) ​ $ (14,804) ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ Weighted-average common shares ─ basic ​ 34,520 ​ 34,355 Potential dilution from share-based awards ​ ​ — ​ ​ — Weighted-average common and common share equivalents ─ diluted ​ 34,520 ​ 34,355 Anti-dilutive share-based awards excluded from the calculation of diluted loss per share ​ 4,015 ​ 3,710

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2023
PROPERTY AND EQUIPMENT, NET
Schedule of Property and Equipment	Property and equipment, net consisted of the following: ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ December 31, ​ 2023 2022 Land and improvements ​ $ 37,601 ​ $ 26,477 Buildings and improvements ​ 256,722 ​ 120,732 Furniture and equipment ​ 88,522 ​ 51,336 Construction in progress ​ 188,841 ​ 227,006 ​ ​ 571,686 ​ 425,551 Less: Accumulated depreciation ​ (113,779) ​ (86,494) ​ ​ $ 457,907 ​ $ 339,057
Schedule of finance leased property and equipment	​ ​ ​ ​ ​ ​ ​ (In thousands) ​ December 31, ​ ​ 2023 ​ 2022 Leased land and improvements ​ $ 215 ​ $ 215 Leased buildings and improvements ​ ​ 5,787 ​ ​ 5,787 Leased furniture and equipment (1) ​ ​ 1,133 ​ ​ 1,724 ​ ​ ​ 7,135 ​ ​ 7,726 Less: Accumulated amortization (1) ​ ​ (2,726) ​ ​ (3,160) ​ ​ $ 4,409 ​ $ 4,566 __________ (1) Amounts shown for December 31, 2023 are after the effects of $0.6 million in disposals made in the third quarter.

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES (Tables)	12 Months Ended
	Dec. 31, 2023
GOODWILL AND OTHER INTANGIBLES
Schedule of goodwill	The following table sets forth changes in the carrying value of goodwill by segment: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ ​ ​ ​ ​ ​ ​ Contracted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Sports ​ ​ ​ ​ ​ Midwest & South ​ West ​ Wagering ​ Total Goodwill, Net Balance, January 1, 2022 ​ $ 14,671 ​ $ 6,615 ​ $ — ​ $ 21,286 Account activity ​ ​ — ​ ​ — ​ ​ — ​ ​ — Balance, December 31, 2022 ​ ​ 14,671 ​ ​ 6,615 ​ ​ — ​ ​ 21,286 Account activity ​ ​ — ​ ​ — ​ ​ — ​ ​ — Balance, December 31, 2023 ​ $ 14,671 ​ $ 6,615 ​ $ — ​ $ 21,286
Schedule of other intangible assets, net	The following tables set forth changes in the carrying value of intangible assets other than goodwill: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ December 31, 2023 ​ Weighted Gross ​ ​ ​ ​ Other ​ ​ Useful Life ​ Carrying ​ ​ ​ Accumulated ​ Intangible ​ ​ (Years) ​ Value ​ Additions ​ Amortization ​ Assets, Net Land Lease and Water Rights 34.3 ​ $ 1,420 ​ $ — ​ $ (346) ​ $ 1,074 Development Agreement ​ 5.0 ​ ​ — ​ ​ 275 ​ ​ — ​ ​ 275 Gaming Licenses Indefinite ​ 7,843 ​ 65,155 ​ — ​ 72,998 Trade Names Indefinite ​ 1,800 ​ — ​ — ​ 1,800 Trademarks Indefinite ​ 121 ​ 3 ​ — ​ 124 ​ ​ ​ ​ $ 11,184 ​ $ 65,433 ​ $ (346) ​ $ 76,271 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ December 31, 2022 ​ Weighted Gross ​ ​ ​ ​ Other ​ ​ Useful Life ​ Carrying ​ ​ ​ Accumulated ​ Intangible ​ ​ (Years) ​ Value ​ Additions ​ Amortization ​ Assets, Net Land Lease and Water Rights 35.3 ​ $ 1,420 $ — $ (315) $ 1,105 Gaming Licenses Indefinite ​ 7,843 ​ — ​ — ​ 7,843 Trade Names Indefinite ​ 1,800 ​ — ​ — ​ 1,800 Trademarks Indefinite ​ 121 ​ — ​ — ​ 121 ​ ​ ​ ​ $ 11,184 ​ $ — ​ $ (315) ​ $ 10,869
Schedule of future amortization expense for intangible assets	Future amortization expense for intangible assets is as follows: ​ ​ ​ ​ (In thousands) ​ ​ ​ ​ ​ ​ ​ For Years ending December 31, Amortization Expense 2024 ​ $ 77 2025 ​ 86 2026 ​ 86 2027 ​ 86 2028 ​ 86 Thereafter ​ 928 ​ ​ $ 1,349 ​

ACCRUED LIABILITIES (Tables)

ACCRUED LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2023
ACCRUED LIABILITIES
Schedule of other accrued expenses	Other accrued liabilities consisted of the following: ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ December 31, ​ ​ 2023 ​ 2022 Contract and contract-related liabilities: ​ ​ ​ ​ ​ ​ Players club points and progressive jackpots ​ $ 4,399 ​ $ 3,010 Outstanding chip liability ​ 527 ​ 416 Unpaid wagers and other ​ 338 ​ 122 Other gaming-related accruals ​ ​ 505 ​ ​ 421 Contract liabilities, current ​ ​ 6,175 ​ ​ 1,651 Other accrued liabilities: ​ ​ ​ ​ Gaming and other taxes ​ ​ 2,737 ​ ​ 1,497 Real estate and personal property taxes ​ ​ 3,048 ​ ​ 1,745 Professional fees ​ ​ 40 ​ ​ 232 Short term portion of note payable for asset acquisition ​ ​ 252 ​ ​ — Other ​ 1,758 ​ 870 ​ ​ $ 19,779 ​ $ 9,964 ​

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	12 Months Ended
	Dec. 31, 2023
LONG-TERM DEBT.
Debt Instrument Redemption	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 %
Schedule of Long-Term Debt	​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ 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 ​ ​ (11,847) ​ ​ (8,148) ​ ​ $ 465,153 ​ $ 401,852 ​
Schedule of future maturities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revolving Credit ​ Senior Secured ​ ​ For Years ending December 31, Facility due 2026 Notes due 2028 Total 2024 ​ $ — ​ $ — ​ $ — 2025 ​ — ​ — ​ — 2026 ​ 27,000 ​ — ​ 27,000 2027 ​ — ​ — ​ — 2028 ​ — ​ 450,000 ​ 450,000 Thereafter ​ ​ — ​ ​ — ​ ​ — ​ ​ $ 27,000 ​ $ 450,000 ​ $ 477,000
Schedule of interest expense	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended (In thousands) ​ December 31, ​ 2023 2022 Interest expense (excluding bond fee amortization and discounts/premiums) ​ $ 39,860 ​ $ 33,496 Amortization of debt issuance costs and discounts/premiums ​ 2,793 ​ 1,649 Capitalized interest ​ (15,938) ​ (10,802) Interest income and other ​ ​ (3,738) ​ ​ (1,355) ​ ​ $ 22,977 ​ $ 22,988 ​

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2023
LEASES
Components of Lease Expense	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Year Ended ​ ​ Classification within ​ December 31, Lease Costs ​ Statement of Operations ​ 2023 2022 Operating leases: ​ ​ ​ Fixed/base rent Selling, General and Administrative Expenses ​ $ 7,933 ​ $ 4,833 Short-term payments ​ Selling, General and Administrative Expenses ​ ​ 22 ​ ​ 136 Variable payments Selling, General and Administrative Expenses ​ 1,213 ​ 1,366 Finance leases: ​ ​ ​ ​ ​ ​ ​ Amortization of leased assets Depreciation and Amortization ​ 1,496 ​ 266 Interest on lease liabilities Interest Expense, Net ​ 371 ​ 138 Total lease costs ​ ​ ​ $ 11,035 ​ $ 6,739
Balance Sheet Information For Leases	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, Leases Balance Sheet Classification 2023 ​ 2022 Assets ​ ​ ​ ​ Operating lease assets Operating Lease Right-of-Use Assets, Net (1) $ 44,704 ​ $ 15,771 Finance lease assets Property and Equipment, Net (2) ​ 4,409 ​ 4,566 Finance lease assets ​ Finance Lease Right-of-Use Assets, Net (3) ​ ​ 2,318 ​ ​ 3,808 Total lease assets ​ $ 51,431 ​ $ 24,145 ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ Current ​ ​ ​ ​ ​ ​ Operating Current Portion of Operating Lease Obligations (1) ​ $ 4,784 ​ $ 2,485 Finance Current Portion of Finance Lease Obligations ​ 1,694 ​ 1,581 Noncurrent ​ ​ ​ ​ ​ ​ Operating Operating Lease Obligations, Net of Current Portion (1) ​ 40,248 ​ 13,418 Finance Finance Lease Obligations, Net of Current Portion ​ 2,705 ​ 4,727 Total lease liabilities ​ $ 49,431 ​ $ 22,211 __________ (1) The increases in operating lease assets and operating lease obligations are primarily due to the land lease for a portion of the American Place site. (2) Finance lease assets are recorded net of accumulated depreciation of $2.7 million (after the effects of $0.6 million in disposals) and $3.2 million as of December 31, 2023 and 2022, respectively. (3) 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.
Operating Lease, Liability, Maturity	​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ ​ ​ ​ ​ ​ ​ Operating Finance Years Ending December 31, ​ Leases ​ Leases 2024 ​ $ 7,735 ​ $ 1,957 2025 ​ 5,722 ​ 1,721 2026 ​ 4,864 ​ 652 2027 ​ 4,515 ​ 489 2028 ​ 4,515 ​ — Thereafter ​ 312,066 ​ — Total future minimum lease payments ​ 339,417 ​ 4,819 Less: Amount representing interest ​ (294,385) ​ (420) Present value of lease liabilities ​ 45,032 ​ 4,399 Less: Current lease obligations ​ (4,784) ​ (1,694) Long-term lease obligations ​ $ 40,248 ​ $ 2,705
Finance Lease, Liability, Maturity	Maturities of lease liabilities are summarized as follows: ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ ​ ​ ​ ​ ​ ​ Operating Finance Years Ending December 31, ​ Leases ​ Leases 2024 ​ $ 7,735 ​ $ 1,957 2025 ​ 5,722 ​ 1,721 2026 ​ 4,864 ​ 652 2027 ​ 4,515 ​ 489 2028 ​ 4,515 ​ — Thereafter ​ 312,066 ​ — Total future minimum lease payments ​ 339,417 ​ 4,819 Less: Amount representing interest ​ (294,385) ​ (420) Present value of lease liabilities ​ 45,032 ​ 4,399 Less: Current lease obligations ​ (4,784) ​ (1,694) Long-term lease obligations ​ $ 40,248 ​ $ 2,705
Other Information Related To Lease Term And Discount Rate	Other information related to lease term and discount rate is as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, Lease Term and Discount Rate ​ 2023 ​ 2022 Weighted-average remaining lease term ​ ​ ​ Operating leases 67.9 years ​ 23.2 years Finance leases 2.8 years ​ 3.7 years Weighted-average discount rate ​ ​ ​ ​ ​ Operating leases 10.91 % ​ 9.73 % Finance leases 7.46 % ​ 7.08 % ​
Supplemental Cash Flow Information Related To Leases	​ ​ ​ ​ ​ ​ ​ ​ (In thousands) Year Ended ​ ​ December 31, Cash paid for amounts included in the measurement of lease liabilities: ​ 2023 ​ 2022 Operating cash flows for operating leases ​ $ 7,737 ​ $ 4,944 Operating cash flows for finance leases ​ $ 371 ​ $ 138 Financing cash flows for finance leases ​ $ 1,477 ​ $ 514 ​

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2023
INCOME TAXES
Schedule of components of income tax provision	The income tax expense (benefit) attributable to the Company’s loss before income taxes consisted of the following: ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Year Ended December 31, ​ 2023 2022 Current Taxes ​ ​ ​ ​ ​ ​ Federal ​ $ — ​ $ — State ​ 489 ​ — ​ ​ 489 ​ — Deferred Taxes ​ ​ Federal ​ (5,007) ​ (4,077) State ​ (3,108) ​ (1,279) Increase in valuation allowance ​ 8,775 ​ 5,325 ​ ​ 660 ​ (31) ​ ​ $ 1,149 ​ $ (31)
Schedule of effective income tax rate reconciliation	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Year Ended December 31, ​ ​ 2023 ​ 2022 Tax Rate Reconciliation Percent ​ Amount Percent ​ Amount Federal income tax benefit at U.S. statutory rate 21.0 % ​ $ (4,988) 21.0 % ​ $ (3,115) State taxes, net of federal benefit 11.0 % ​ (2,621) 8.6 % ​ (1,279) Change in valuation allowance (36.9) % ​ 8,775 (35.9) % ​ 5,325 Permanent differences (0.7) % ​ 168 (0.5) % ​ 77 Credits 0.8 % ​ (191) 0.7 % ​ (110) Other — % ​ 6 6.3 % ​ (929) ​ (4.8) % ​ $ 1,149 0.2 % ​ $ (31)
Schedule of deferred tax assets and liabilities	​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ December 31, ​ 2023 2022 Deferred tax assets: ​ ​ ​ ​ ​ ​ Deferred compensation ​ $ 2,452 ​ $ 1,673 Intangible assets and amortization ​ 6,071 ​ 3,972 Net operating loss carry-forwards ​ 12,158 ​ 8,364 Accrued expenses ​ 804 ​ 603 Credits ​ 1,152 ​ 916 Loan Fees ​ ​ 1,269 ​ ​ 1,206 Interest limitation ​ 4,418 ​ 1,668 Lease liabilities ​ ​ 12,085 ​ ​ 4,718 Deferred revenues ​ ​ 1,781 ​ ​ 789 Valuation allowance ​ (23,966) ​ (15,191) Other ​ ​ 354 ​ ​ 144 ​ ​ 18,578 ​ 8,862 Deferred tax liabilities: ​ ​ Depreciation of fixed assets ​ (1,777) ​ (423) Amortization of indefinite-lived intangibles ​ (5,621) ​ (4,021) Right-of-use assets ​ ​ (12,033) ​ ​ (4,739) Other ​ (831) ​ (703) ​ ​ (20,262) ​ (9,886) ​ ​ $ (1,684) ​ $ (1,024)

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2023
STOCK-BASED COMPENSATION
Schedule of Common Stock Options	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ ​ ​ ​ Weighted ​ Remaining ​ ​ ​ ​ ​ Number ​ Average ​ Contractual ​ Aggregate ​ ​ of Stock ​ Exercise ​ Term ​ Intrinsic ​ ​ Options ​ Price ​ (in years) ​ Value Options outstanding at January 1, 2023 3,503,235 ​ $ 2.80 ​ Granted 350,754 ​ 7.40 ​ Exercised (56,762) ​ 1.40 ​ Canceled/Forfeited (20,000) ​ 6.88 ​ Expired (20,000) ​ 3.22 ​ Options outstanding at December 31, 2023 3,757,227 ​ $ 3.22 4.31 ​ $ 10,280,758 Options exercisable at December 31, 2023 3,059,868 ​ $ 2.27 3.31 ​ $ 10,221,180
Schedule of compensation expense	​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Year Ended ​ ​ December 31, Compensation Expense ​ 2023 ​ 2022 Stock options ​ $ 1,517 ​ $ 1,150 Restricted and performance-based shares ​ 1,365 ​ 543 ​ ​ $ 2,882 ​ $ 1,693 ​
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2023 ​ 2022 Expected volatility 69.54 % ​ 68.38 % Expected dividend yield — % ​ — % Expected term (in years) 6.00 ​ 6.00 ​ Weighted average risk-free rate 3.72 % ​ 2.56 % ​
Schedule of weighted-average grant date fair value of options granted	Therefore, the weighted-average grant date fair value per share of options granted is as follows for 2022 and 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ 2023 ​ 2022 Weighted average grant date fair value ​ $ 4.79 ​ $ 4.39 ​

SEGMENT REPORTING AND DISAGGR_2

SEGMENT REPORTING AND DISAGGREGATED REVENUE (Tables)	12 Months Ended
	Dec. 31, 2023
SEGMENT REPORTING AND DISAGGREGATED REVENUE
Schedule of Total Revenues By Segment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Year Ended December 31, 2023 ​ ​ ​ ​ ​ ​ Contracted ​ ​ ​ ​ ​ ​ ​ ​ Sports ​ ​ ​ ​ Midwest & South ​ West ​ Wagering ​ Total Revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Casino ​ $ 145,391 ​ $ 31,542 ​ $ — ​ $ 176,933 Food and beverage ​ 30,762 ​ 3,218 ​ — ​ 33,980 Hotel ​ 8,792 ​ 636 ​ — ​ 9,428 Other operations, ​ 7,413 ​ 492 ​ 12,814 ​ 20,719 ​ ​ $ 192,358 ​ $ 35,888 ​ $ 12,814 ​ $ 241,060 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Adjusted Segment EBITDA ​ $ 39,028 ​ $ 2,408 ​ $ 11,663 ​ $ 53,099 Other operating costs and expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation and amortization ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (31,092) Corporate expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (4,542) Project development costs ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (53) Preopening costs ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (15,685) Loss on disposal of assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (7) Stock-based compensation ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (2,882) Operating loss ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1,162) Other (expense) income: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest expense, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (22,977) Gain on settlements ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 384 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (22,593) Loss before income taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (23,755) Income tax expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1,149 Net loss ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ (24,904) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (In thousands) ​ Year Ended December 31, 2022 ​ ​ ​ ​ ​ ​ Contracted ​ ​ ​ ​ ​ ​ ​ ​ Sports ​ ​ ​ ​ Midwest & South ​ West ​ Wagering ​ Total Revenues ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Casino ​ $ 81,681 ​ $ 32,195 ​ $ — ​ $ 113,876 Food and beverage ​ 23,717 ​ 2,777 ​ — ​ 26,494 Hotel ​ 8,650 ​ 632 ​ — ​ 9,282 Other operations, ​ 5,902 ​ 531 ​ 7,196 ​ 13,629 ​ ​ $ 119,950 ​ $ 36,135 ​ $ 7,196 ​ $ 163,281 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Adjusted Segment EBITDA ​ $ 26,376 ​ $ 4,220 ​ $ 7,127 ​ $ 37,723 Other operating costs and expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation and amortization ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (7,930) Corporate expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (5,589) Project development costs ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (228) Preopening costs ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (9,558) Loss on disposal of assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (42) Stock-based compensation ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (1,693) Operating income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 12,683 Other expenses: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest expense, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (22,988) Loss on modification of debt ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (4,530) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (27,518) Loss before income taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (14,835) Income tax benefit ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (31) Net loss ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ (14,804) ​ ​
Schedule of Total Assets By Segment	​

ORGANIZATION - Resort (Details)

ORGANIZATION - Resort (Details)	Dec. 31, 2023 item
Number of casinos operated	7
Number of casinos owned or leased	6
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 - Property and Equipment estimated useful lives (Details)	Dec. 31, 2023
Minimum | Land improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	10 years
Minimum | Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	3 years
Minimum | Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	2 years
Maximum | Land improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	18 years
Maximum | Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	44 years
Maximum | Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment useful life	10 years

BASIS OF PRESENTATION AND SUM_3

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Leases (Details)	Dec. 31, 2023
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES
Lease, Practical Expedient, Lessor Single Lease Component [true false]	true

BASIS OF PRESENTATION AND SUM_4

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Accounts Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Basis Of Presentation [Line Items]
Accounts receivable	$ 6,521	$ 4,331
Less: Reserves	(1,189)	(249)	$ (257)
Accounts receivable, net	5,332	4,082
Casino
Basis Of Presentation [Line Items]
Accounts receivable	343	333
Hotel
Basis Of Presentation [Line Items]
Accounts receivable	1	52
Trade Accounts Receivable [Member]
Basis Of Presentation [Line Items]
Accounts receivable	3,479	1,114
Other Operations, Excluding Contracting Sports Wagering [Member]
Basis Of Presentation [Line Items]
Accounts receivable	185	175
Contracting Sports Wagering [Member]
Basis Of Presentation [Line Items]
Accounts receivable	1,932	1,658
Other Accounts Receivables [Member]
Basis Of Presentation [Line Items]
Accounts receivable	581	$ 999
Sports Wagering Agreements
Basis Of Presentation [Line Items]
Less: Reserves	$ (1,000)

BASIS OF PRESENTATION AND SUM_5

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Credit Loss Recognized (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
ACCOUNTS RECEIVABLE
Balance at January 1	$ 249	$ 257
Current period provision for credit losses	940	(8)
Balance at December 31	$ 1,189	$ 249

BASIS OF PRESENTATION AND SUM_6

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Deferred Revenues (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred revenue, current	$ 6,175	$ 1,651
Deferred revenue, net of current portion	6,192	8,856
Contract with Customer, Liability, Total	12,367	10,507
Other accrued expenses and current liabilities
Deferred revenue, current	6,175	1,651
Contract liabilities, net of current portion
Deferred revenue, net of current portion	$ 6,192	$ 8,856

BASIS OF PRESENTATION AND SUM_7

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Deferred Revenues: Market Access Fees from Sports Wagering Agreements (Details)	1 Months Ended	3 Months Ended	12 Months Ended
	May 31, 2022 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) item	Dec. 31, 2022 USD ($)
Basis Of Presentation [Line Items]
Deferred revenues			$ 12,367,000	$ 10,507,000
Revenue from Contract with Customer, Excluding Assessed Tax		$ 1,500,000	241,060,000	163,281,000
Liabilities in other accrued expenses			800,000	700,000
Number of idle skins created each in Indiana and Colorado		1
Total operating costs and expenses			$ 242,222,000	$ 150,598,000
COLORADO
Basis Of Presentation [Line Items]
Term of agreement			10 years
Number of contracted mobile sports operators intended to cease operations | item			2
Minimum revenues receivable			$ 2,000,000
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
Minimum revenues receivable			$ 1,000,000
ILLINOIS
Basis Of Presentation [Line Items]
Deferred revenue			$ 4.9
Term of agreement	8 years
Upfront fee received	$ 5,000,000
Minimum revenues receivable	$ 5,000,000
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

BASIS OF PRESENTATION AND SUM_8

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Advertising and Project and Acquisition costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES
Advertising costs included in selling, general and administrative expenses	$ 8.5	$ 2.7

BASIS OF PRESENTATION AND SUM_9

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Earnings (Loss) Per Share (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
EARNINGS (LOSS) PER SHARE
Net loss - basic	$ (24,904)	$ (14,804)
Net loss diluted	$ (24,904)	$ (14,804)
Weighted-average common shares - basic (in shares)	34,519,993	34,354,847
Weighted-average common and common share equivalents - diluted (in shares)	34,519,993	34,354,847
Anti-dilutive share-based awards excluded from the calculation of diluted loss per share	4,015,000	3,710,000

BASIS OF PRESENTATION AND SU_10

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - New Accounting Pronouncement Implemented (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current period provision for credit losses	$ 940	$ (8)
Sports Wagering Agreements
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current period provision for credit losses	$ 1,000

PROPERTY AND EQUIPMENT, NET (De

PROPERTY AND EQUIPMENT, NET (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 571,686	$ 425,551
Less: Accumulated depreciation	(113,779)	(86,494)
Property and equipment, net of accumulated depreciation and amortization	457,907	339,057
Land and improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	37,601	26,477
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	256,722	120,732
Furniture and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	88,522	51,336
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 188,841	$ 227,006

PROPERTY AND EQUIPMENT, NET - L

PROPERTY AND EQUIPMENT, NET - Leased property and equipment (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Leased property and equipment gross		$ 7,135	$ 7,726
Less: Accumulated amortization		(2,726)	(3,160)
Leased property and equipment net		4,409	4,566
Property,plant and equipment disposal	$ 600
Land and improvements
Property, Plant and Equipment [Line Items]
Leased property and equipment gross		215	215
Buildings and improvements
Property, Plant and Equipment [Line Items]
Leased property and equipment gross		5,787	5,787
Furniture and equipment
Property, Plant and Equipment [Line Items]
Leased property and equipment gross		$ 1,133	$ 1,724

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLES - Carrying value of Goodwill by segment (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
GOODWILL AND OTHER INTANGIBLES
Goodwill	$ 21,286	$ 21,286
Goodwill	21,286	21,286
Midwest & South
GOODWILL AND OTHER INTANGIBLES
Goodwill	14,671	14,671
Goodwill	14,671	14,671
West
GOODWILL AND OTHER INTANGIBLES
Goodwill	6,615	6,615
Goodwill	$ 6,615	$ 6,615

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLES - Other Intangible Assets (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Amortizing intangible assets:
Accumulated Amortization	$ (346,000)	$ (315,000)
Finite-Lived Intangible Assets, Net, Total	1,349,000
Intangible assets, net (excluding goodwill) [Abstract]
Intangible Assets, Gross Carrying Value	11,184,000	11,184,000
Intangible Assets, Gross (Excluding Goodwill), Additions	65,433,000
Other Intangible Asset, Net	76,271,000	10,869,000
Goodwill and intangible asset impairment	0	0
Gaming Licenses
Non-amortizing intangible assets:
Gross Carrying Value	7,843,000	7,843,000
Additions	65,155,000
Other Intangible Assets, Net	72,998,000	7,843,000
Trade names
Non-amortizing intangible assets:
Gross Carrying Value	1,800,000	1,800,000
Other Intangible Assets, Net	1,800,000	1,800,000
Trademarks
Non-amortizing intangible assets:
Gross Carrying Value	121,000	121,000
Additions	3,000
Other Intangible Assets, Net	$ 124,000	$ 121,000
Land Lease and Water Rights
Amortizing intangible assets:
Weighted Useful Life (Years)	34 years 3 months 18 days	35 years 3 months 18 days
Gross Carrying Value	$ 1,420,000	$ 1,420,000
Accumulated Amortization	(346,000)	(315,000)
Finite-Lived Intangible Assets, Net, Total	$ 1,074,000	$ 1,105,000
Development Agreement
Amortizing intangible assets:
Weighted Useful Life (Years)	5 years
Additions	$ 275,000
Finite-Lived Intangible Assets, Net, Total	$ 275,000

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLES - Current & Future Amortization (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
GOODWILL AND OTHER INTANGIBLES
Amortization of intangible assets	$ 31,000	$ 31,000
2024	77,000
2025	86,000
2026	86,000
2027	86,000
2028	86,000
Thereafter	928,000
Finite-Lived Intangible Assets, Net, Total	$ 1,349,000

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLES - Land Lease and Water Rights (Details) - Silver Slipper Casino and Hotel - Cure Land Company, LLC - Land Lease and Water Rights $ in Thousands	Oct. 31, 2012 USD ($)
GOODWILL AND OTHER INTANGIBLES
Excess fair value of land over estimated net present value of land lease payments	$ 970
Fair value of water rights based on current market rate	$ 450

GOODWILL AND OTHER INTANGIBLE_6

GOODWILL AND OTHER INTANGIBLES - Development Agreement (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
GOODWILL AND OTHER INTANGIBLES
Acquisition of intangible assets	$ 50,528
Development Agreement
GOODWILL AND OTHER INTANGIBLES
Acquisition of intangible assets	$ 275
Weighted Useful Life (Years)	5 years

GOODWILL AND OTHER INTANGIBLE_7

GOODWILL AND OTHER INTANGIBLES - Gaming Licenses & Trade Names (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
GOODWILL AND OTHER INTANGIBLES
Payments to Acquire Intangible Assets	$ 50,528
American Place Project in Waukegan, Illinois | Gaming Licenses
GOODWILL AND OTHER INTANGIBLES
Payments to Acquire Intangible Assets	50,300
Additions	$ 14,900
Bronco Billy's Casino and Hotel | Trade names
GOODWILL AND OTHER INTANGIBLES
Period of existence (approximately)	32 years

ACCRUED LIABILITIES (Details)

ACCRUED LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Contract and contract-related liabilities:
Player club points and progressive jackpots	$ 4,399	$ 3,010
Outstanding chip liability	527	416
Unpaid wagers and other	338	122
Other gaming-related accruals	505	421
Contract liabilities, current	6,175	1,651
Other accrued liabilities:
Gaming and other taxes	2,737	1,497
Real estate and personal property taxes	3,048	1,745
Professional fees	40	232
Short term portion of note payable for asset acquisition	252
Other	1,758	870
Accrued Liabilities, Current, Total	$ 19,779	$ 9,964

LONG-TERM DEBT - Senior Secured

LONG-TERM DEBT - Senior Secured Notes Narrative (Details) - USD ($) $ in Thousands			1 Months Ended	12 Months Ended
	Feb. 21, 2023	Feb. 07, 2022	Feb. 28, 2023	Dec. 31, 2023	Dec. 31, 2022	Jan. 31, 2022	Feb. 12, 2021
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
Line of Credit Facility [Line Items]
Percentage of prepayment Premium							0.90%
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%			8.25%
Borrowed funds designated for constructing project						$ 221,000	$ 180,000
Proceeds from Senior Secured Notes due 2028 borrowings			$ 40,000

LONG-TERM DEBT - Redemption of

LONG-TERM DEBT - Redemption of Senior Secured Notes (Details) - Senior Secured Notes - Senior Secured Notes Due 2028	Feb. 12, 2021
February 15, 2024 to February 14, 2025
Line of Credit Facility [Line Items]
Percentage Premium	104.125%
February 15, 2025 to February 14, 2026
Line of Credit Facility [Line Items]
Percentage Premium	102.063%
February 15, 2026 and Thereafter
Line of Credit Facility [Line Items]
Percentage Premium	100%

LONG-TERM DEBT - Revolving Cred

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

LONG-TERM DEBT - Long-Term Debt

LONG-TERM DEBT - Long-Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Feb. 07, 2022	Feb. 12, 2021
Debt Instrument [Line Items]
Outstanding principal	$ 477,000
Unamortized debt issuance costs, discounts and premiums, net	(11,847)	$ (8,148)
Long-term debt, net	465,153	401,852
Senior Secured Notes
Debt Instrument [Line Items]
Outstanding principal	450,000
Revolving Credit Facility Due 2026
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%	8.25%
Estimated fair value	$ 423,000	$ 360,600

LONG-TERM DEBT - Scheduled Matu

LONG-TERM DEBT - Scheduled Maturities of Long-term Debt (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
2026	$ 27,000
2028	450,000
Outstanding Principal	477,000
Senior Secured Notes
Debt Instrument [Line Items]
2028	450,000
Outstanding Principal	450,000
Revolving Credit
Debt Instrument [Line Items]
2026	27,000
Outstanding Principal	$ 27,000

LONG-TERM DEBT - Interest Expen

LONG-TERM DEBT - Interest Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
LONG-TERM DEBT.
Interest expense (excluding bond fee amortization and premium)	$ 39,860	$ 33,496
Amortization of debt issuance costs, discounts and premiums	2,793	1,649
Capitalized interest	(15,938)	(10,802)
Interest income and other	(3,738)	(1,355)
Interest expense net	$ 22,977	$ 22,988

LEASES - Narrative (Details)

LEASES - Narrative (Details)		1 Months Ended	12 Months Ended			107 Months Ended
	Jan. 01, 2018 USD ($)	Jan. 31, 2023 USD ($) a	Dec. 31, 2023 USD ($) a lease Option ft² room	Dec. 31, 2022 USD ($)	Dec. 31, 2004 USD ($) a	Dec. 31, 2034 USD ($)	Mar. 31, 2020 USD ($)
Lessee, Lease, Description [Line Items]
Number of leases in which company is lessor | lease			0
Adjacent area parcel | a		10
EBITDA measurement period preceding acquisition			12 months
Area of land subject to purchase option | a			4
Land Lease Of Silver Slipper Casino Site
Lessee, Lease, Description [Line Items]
Percentage of gross gaming revenue					3%
Grand Lodge Casino facility
Lessee, Lease, Description [Line Items]
Rent	$ 2,000,000
Lessor acquisition price, EBITDA measurement period			12 months
Rent expenses			$ 1,900,000	$ 1,800,000
Corporate Office Lease
Lessee, Lease, Description [Line Items]
Operating Leases Rent Expense Base Monthly Payments			$ 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]
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
New purchase price if change in ownership of Silver Slipper			$ 17,100,000
Total leased land | a			38
Value of option to purchase four acre portion of land			$ 2,000,000
Operating purchase option, remaining net price			2,000,000
Land lease | Land Lease Of Silver Slipper Casino Site
Lessee, Lease, Description [Line Items]
Gross gaming revenue (in excess of)					$ 3,650,000
Rent			1,700,000	1,800,000
Contingent rent			800,000	$ 900,000
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 Two | Bronco Billy's Casino and Hotel
Lessee, Lease, Description [Line Items]
Operating Leases Annual Rent Payment			$ 400,000
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
Waukegan Ground Lease
Lessee, Lease, Description [Line Items]
Rent expenses			$ 2,600,000
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			2,200,000
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			98 years

LEASES - Balance Sheet Details

LEASES - Balance Sheet Details (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
LEASES
Operating lease assets	$ 44,704	$ 15,771
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Operating lease assets	Operating lease assets
Finance lease assets	$ 4,409	$ 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	$ 2,318	$ 3,808
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Finance lease assets
Total lease assets	$ 51,431	24,145
Current operating lease liability	$ 4,784	$ 2,485
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Current operating lease liability	Current operating lease liability
Current finance lease liability	$ 1,694	$ 1,581
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Current finance lease liability	Current finance lease liability
Noncurrent operating lease liability	$ 40,248	$ 13,418
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Noncurrent operating lease liability	Noncurrent operating lease liability
Noncurrent finance lease liability	$ 2,705	$ 4,727
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Noncurrent finance lease liability	Noncurrent finance lease liability
Total lease liabilities	$ 49,431	$ 22,211
Finance Lease, Right-of-Use Asset, Accumulated Amortization	2,726	3,160
Finance Lease, Right-of-Use Asset, Disposals	$ 600	$ 3,200

LEASES - Lease Expense (Details

LEASES - Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
LEASES
Fixed/base rent	$ 7,933	$ 4,833
Short-term payments	22	136
Variable payments	1,213	1,366
Amortization of leased assets	1,496	266
Interest on lease liabilities	371	138
Total lease costs	$ 11,035	$ 6,739

LEASES - Maturities of Lease Li

LEASES - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Operating Leases
2024	$ 7,735
2025	5,722
2026	4,864
2027	4,515
2028	4,515
Thereafter	312,066
Total future minimum lease payments	339,417
Less: Amount representing interest	(294,385)
Present value of lease liabilities	45,032
Less: Current lease obligations	(4,784)	$ (2,485)
Long-term lease obligations	40,248	13,418
Financing Lease
2024	1,957
2025	1,721
2026	652
2027	489
Total future minimum lease payments	4,819
Less: Amount representing interest	(420)
Present value of lease liabilities	4,399
Less: Current lease obligations	(1,694)	(1,581)
Long-term lease obligations	$ 2,705	$ 4,727

LEASES - Lease Term and Discoun

LEASES - Lease Term and Discount Rate (Details)	Dec. 31, 2023	Dec. 31, 2022
LEASES
Weighted-average remaining lease term, operating leases	67 years 10 months 24 days	23 years 2 months 12 days
Weighted-average remaining lease term, finance leases	2 years 9 months 18 days	3 years 8 months 12 days
Weighted-average discount rate, operating leases	10.91%	9.73%
Weighted-average discount rate, finance leases	7.46%	7.08%

LEASES - Supplemental Cash Flow

LEASES - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$ 7,737	$ 4,944
Operating cash flows for finance lease	$ 371	$ 138

INCOME TAXES - Income tax provi

INCOME TAXES - Income tax provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Current:
Federal	$ 0	$ 0
State	489	0
Total current tax	489	0
Deferred:
Federal	(5,007)	(4,077)
State	(3,108)	(1,279)
Increase (decrease) in valuation allowance	8,775	5,325
Total deferred tax	660	(31)
Income Tax Expense (Benefit), Total	$ 1,149	$ (31)

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of income tax provision relative to continuing operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Federal income tax benefit at U.S. statutory rate	21%	21%
State taxes, net of federal benefit	11%	8.60%
Change in valuation allowance	(36.90%)	(35.90%)
Permanent differences	(0.70%)	(0.50%)
Credits	0.80%	0.70%
Other		6.30%
Effective Income Tax Rate Reconciliation, Percent, Total	(4.80%)	0.20%
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Federal income tax benefit at U.S. statutory rate	$ (4,988)	$ (3,115)
State taxes, net of federal benefit	(2,621)	(1,279)
Change in valuation allowance	8,775	5,325
Permanent differences	168	77
Credits	(191)	(110)
Other	6	(929)
Income Tax Expense (Benefit), Total	$ 1,149	$ (31)

INCOME TAXES - Deferred tax ass

INCOME TAXES - Deferred tax assets (liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred Tax Assets
Deferred compensation	$ 2,452	$ 1,673
Intangible assets and amortization	6,071	3,972
Net operating loss carry-forwards	12,158	8,364
Accrued expenses	804	603
Credits	1,152	916
Loan Fees	1,269	1,206
Interest limitation	4,418	1,668
Lease liabilities	12,085	4,718
Deferred revenues	1,781	789
Valuation allowance	(23,966)	(15,191)
Other	354	144
Total deferred tax assets	18,578	8,862
Deferred tax liabilities:
Depreciation of fixed assets	(1,777)	(423)
Amortization of indefinite-lived intangibles	(5,621)	(4,021)
Right of use assets	(12,033)	(4,739)
Other	(831)	(703)
Total deferred tax liabilities	(20,262)	(9,886)
Total deferred tax assets (liabilities)	$ (1,684)	$ (1,024)

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Operating Loss Carryforwards [Line Items]
Unrecognized Tax Benefits	$ 0	$ 0
General Business Tax Credit Carryforward
Operating Loss Carryforwards [Line Items]
General business credit carry-forward	1.2
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carry-forwards	26
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating loss carry-forwards	$ 137
Tax Year 2023 to 2043 | Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforward term	20 years

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Long-term debt obligation			$ 14.9
Payment of position fees			$ 35
Defined Contribution Plan, Employer Matching Contribution, Percent of Match			50%	50%
Defined Contribution Plan, Employer Discretionary Contribution Amount			$ 0.3	$ 0.2
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay			4%	4%
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

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details) - USD ($) $ / shares in Units, $ in Millions		1 Months Ended	12 Months Ended
	May 18, 2023	May 31, 2017	Dec. 31, 2023	Dec. 31, 2022	May 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value of stock options (in dollars per share)			$ 4.79	$ 4.39
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost			$ 2.1
Weighted-average period of unrecognized compensation cost expected to be recognized			1 year 10 months 24 days
Restricted and performance shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost			$ 1.3
Weighted-average period of unrecognized compensation cost expected to be recognized			1 year 2 months 12 days
2015 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for issuance					4,500,000
Award terms		10 years
Number of Awards With Accelerated Vesting Under New Ownership Company		0
Number of shares available for future issuance (in shares)			671,041
2015 Equity Incentive Plan | 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			33.33%
2015 Equity Incentive Plan | Board of Directors | 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 | Executive Officer [Member] | Performance shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted			120,356

STOCK-BASED COMPENSATION - Summ

STOCK-BASED COMPENSATION - Summarizes information related to our common stock options (Details) - Employee Stock Option [Member]	12 Months Ended
	Dec. 31, 2023 USD ($) $ / 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	(56,762)
Canceled/Forfeited (in shares) | shares	(20,000)
Expired (in shares) | shares	(20,000)
Options outstanding, ending balance (in shares) | shares	3,757,227
Options exercisable (in shares) | shares	3,059,868
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	1.40
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
Weighted Average Remaining Contractual Term	4 years 3 months 21 days
Aggregate Intrinsic Value, Options outstanding | $	$ 10,280,758
Weighted Average Remaining Contractual Term, Options Exercisable	3 years 3 months 21 days
Aggregate Intrinsic Value, Options exercisable | $	$ 10,221,180

STOCK-BASED COMPENSATION - Comp

STOCK-BASED COMPENSATION - Compensation Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Compensation expense	$ 2,882	$ 1,693
Employee Stock Option [Member]
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Compensation expense	1,517	1,150
Restricted stocks and Performance-based shares
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Compensation expense	$ 1,365	$ 543

STOCK-BASED COMPENSATION - Opti

STOCK-BASED COMPENSATION - Option valuation assumptions for options granted (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
STOCK-BASED COMPENSATION
Expected volatility	69.54%	68.38%
Expected dividend yield	0%	0%
Expected life (in years)	6 years	6 years
Weighted average risk free rate	3.72%	2.56%

SEGMENT REPORTING AND DISAGGR_3

SEGMENT REPORTING AND DISAGGREGATED REVENUE - Selected Statement of Operations Data (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Net Revenues	$ 1,500	$ 241,060	$ 163,281
Adjusted Segment EBITDA		53,099	37,723
Depreciation and amortization		(31,092)	(7,930)
Corporate expenses		(4,542)	(5,589)
Project development costs		(53)	(228)
Preopening costs		(15,685)	(9,558)
Loss on disposal of assets		(7)	(42)
Stock-based compensation		(2,882)	(1,693)
Operating loss		(1,162)	12,683
Other (expense) income:
Interest expense, net		(22,977)	(22,988)
Loss on modification of debt			(4,530)
Gain on settlements		384
Nonoperating Income (Expense)		(22,593)	(27,518)
Loss before income taxes		(23,755)	(14,835)
Income tax expense		1,149	(31)
Net loss		(24,904)	(14,804)
Midwest and South
Segment Reporting Information [Line Items]
Net Revenues		192,358	119,950
Adjusted Segment EBITDA		39,028	26,376
West
Segment Reporting Information [Line Items]
Net Revenues		35,888	36,135
Adjusted Segment EBITDA		2,408	4,220
Contracted Sports Wagering
Segment Reporting Information [Line Items]
Net Revenues		12,814	7,196
Adjusted Segment EBITDA		11,663	7,127
Casino
Segment Reporting Information [Line Items]
Net Revenues		176,933	113,876
Casino | Midwest and South
Segment Reporting Information [Line Items]
Net Revenues		145,391	81,681
Casino | West
Segment Reporting Information [Line Items]
Net Revenues		31,542	32,195
Food and beverage
Segment Reporting Information [Line Items]
Net Revenues		33,980	26,494
Food and beverage | Midwest and South
Segment Reporting Information [Line Items]
Net Revenues		30,762	23,717
Food and beverage | West
Segment Reporting Information [Line Items]
Net Revenues		3,218	2,777
Hotel
Segment Reporting Information [Line Items]
Net Revenues		9,428	9,282
Hotel | Midwest and South
Segment Reporting Information [Line Items]
Net Revenues		8,792	8,650
Hotel | West
Segment Reporting Information [Line Items]
Net Revenues		636	632
Other operations, including contracted sports wagering
Segment Reporting Information [Line Items]
Net Revenues		20,719	13,629
Other operations, including contracted sports wagering | Midwest and South
Segment Reporting Information [Line Items]
Net Revenues		7,413	5,902
Other operations, including contracted sports wagering | West
Segment Reporting Information [Line Items]
Net Revenues		492	531
Other operations, including contracted sports wagering | Contracted Sports Wagering
Segment Reporting Information [Line Items]
Net Revenues		$ 12,814	$ 7,196

SEGMENT REPORTING AND DISAGGR_4

SEGMENT REPORTING AND DISAGGREGATED REVENUE - Selected Balance Sheet Data (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total Assets	$ 688,457	$ 595,329
Property and Equipment, net	457,907	339,057
Corporate and Other
Segment Reporting Information [Line Items]
Total Assets	16,533	48,569
Property and Equipment, net	273	394
Midwest and South | Operating Segments
Segment Reporting Information [Line Items]
Total Assets	298,072	194,033
Property and Equipment, net	152,106	150,214
West | Operating Segments
Segment Reporting Information [Line Items]
Total Assets	372,875	351,069
Property and Equipment, net	305,528	188,449
Contracted Sports Wagering | Operating Segments
Segment Reporting Information [Line Items]
Total Assets	$ 977	$ 1,658

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ (24,904)	$ (14,804)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false