SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2026

SEGMENT INFORMATION

Schedule of segment information


(In thousands)		September 30,			December 31,
		2026			2025
Total Assets
Midwest & South		$	264,097		$	285,831
West			325,712			339,720
Contracted Sports Wagering			1			168
Corporate and Other			18,442			24,090
		$	608,252		$	649,809

Schedule of total revenues by segment


(In thousands)		Three Months Ended September 30, 2026
								Contracted
								Sports
		Midwest & South			West			Wagering			Total
Revenues
Casino		$	49,987		$	13,068		$	—		$	63,055
Food and beverage			8,608			1,873			—			10,481
Hotel			1,845			2,709			—			4,554
Other operations, including contracted sports wagering			1,625			550			1,512			3,687
Total consolidated revenues			62,065			18,200			1,512			81,777

Less:
Payroll and related costs			16,295			6,099			—			22,394
Cost of sales			4,693			934			—			5,627
Gaming taxes and other⁽¹⁾			11,586			2,175			20			13,781
Other segment items⁽²⁾			15,854			7,954			70			23,878
Total segment expenses			48,428			17,162			90			65,680

Adjusted Segment EBITDA			13,637			1,038			1,422			16,097
Other operating costs and expenses:
Depreciation and amortization												(9,452)
Corporate expenses												(1,519)
Project development costs												(10)
Stock-based compensation												(696)
Operating income												4,420
Other expense:
Interest expense, net												(12,999)
Loss before income taxes												(8,579)
Income tax provision												70
Net loss											$	(8,649)

__________

(1)	Excludes real estate and property taxes.

(2)	For each reportable segment, the “Other segment items” category includes:

●

Midwest & South and West ─ Advertising and marketing, rent expense, insurance, and other miscellaneous costs.

●

Contracted Sports Wagering ─ Certain overhead expenses.


(In thousands)		Three Months Ended September 30, 2025
								Contracted
								Sports
		Midwest & South			West			Wagering			Total
Revenues
Casino		$	46,667		$	13,156		$	—		$	59,823
Food and beverage			8,248			1,702			—			9,950
Hotel			1,777			2,688			—			4,465
Other operations, including contracted sports wagering			1,633			447			1,632			3,712
Total consolidated revenues			58,325			17,993			1,632			77,950

Less:
Payroll and related costs			15,622			5,874			—			21,496
Cost of sales			4,460			827			—			5,287
Gaming taxes and other⁽¹⁾			10,782			766			13			11,561
Other segment items⁽²⁾			15,909			7,317			77			23,303
Total segment expenses			46,773			14,784			90			61,647

Adjusted Segment EBITDA			11,552			3,209			1,542			16,303
Other operating costs and expenses:
Depreciation and amortization												(10,641)
Corporate expenses												(1,491)
Project development costs												(57)
Loss on sale of Stockman’s												(4)
Stock-based compensation												(674)
Operating income												3,436
Other expense:
Interest expense, net												(11,128)
Loss before income taxes												(7,692)
Income tax benefit												(14)
Net loss											$	(7,678)

__________

(1)	Excludes real estate and property taxes.

(2)	For each reportable segment, the “Other segment items” category includes:

●

Midwest & South and West ─ Advertising and marketing, rent expense, insurance, and other miscellaneous costs.

●

Contracted Sports Wagering ─ Credit loss expense net of recoveries, as well as certain overhead expenses.


(In thousands)		Nine Months Ended September 30, 2026
								Contracted
								Sports
		Midwest & South			West			Wagering			Total
Revenues
Casino		$	145,562		$	33,490		$	—		$	179,052
Food and beverage			25,087			5,051			—			30,138
Hotel			5,243			7,251			—			12,494
Other operations, including contracted sports wagering			6,542			1,527			4,509			12,578
Total consolidated revenues			182,434			47,319			4,509			234,262

Less:
Payroll and related costs			47,026			17,162			—			64,188
Cost of sales			13,557			2,555			—			16,112
Gaming taxes and other⁽¹⁾			33,382			6,107			49			39,538
Other segment items⁽²⁾			46,652			22,316			150			69,118
Total segment expenses			140,617			48,140			199			188,956

Adjusted Segment EBITDA			41,817			(821)			4,310			45,306
Other operating costs and expenses:
Depreciation and amortization												(30,443)
Corporate expenses												(4,251)
Project development costs												(69)
Stock-based compensation, net												(1,503)
Operating income												9,040
Other expense:
Interest expense, net												(34,222)
Loss before income taxes												(25,182)
Income tax provision												311
Net loss											$	(25,493)

__________

(1)	Excludes real estate and property taxes.

(2)	For each reportable segment, the “Other segment items” category includes:

●

Midwest & South and West ─ Advertising and marketing, rent expense, insurance, and other miscellaneous costs.

●

Contracted Sports Wagering ─ Certain overhead expenses.


(In thousands)		Nine Months Ended September 30, 2025
								Contracted
								Sports
		Midwest & South			West			Wagering			Total
Revenues
Casino		$	136,865		$	35,241		$	—		$	172,106
Food and beverage			24,562			5,029			—			29,591
Hotel			5,325			6,702			—			12,027
Other operations, including contracted sports wagering			6,548			1,111			5,571			13,230
Total consolidated revenues			173,300			48,083			5,571			226,954

Less:
Payroll and related costs			46,337			18,993			—			65,330
Cost of sales			12,568			2,457			—			15,025
Gaming taxes and other⁽¹⁾			31,298			4,033			38			35,369
Other segment items⁽²⁾			45,683			22,995			200			68,878
Total segment expenses			135,886			48,478			238			184,602

Adjusted Segment EBITDA			37,414			(395)			5,333			42,352
Other operating costs and expenses:
Depreciation and amortization												(31,836)
Corporate expenses												(4,919)
Project development costs												(231)
Loss on disposal of assets												(6)
Loss on sale of Stockman’s, net												(209)
Stock-based compensation, net												(1,051)
Operating income												4,100
Other expenses:
Interest expense, net												(31,779)
Other												(50)
												(31,829)
Loss before income taxes												(27,729)
Income tax provision												97
Net loss											$	(27,826)

__________

(1)	Excludes real estate and property taxes.

(2)	For each reportable segment, the “Other segment items” category includes:

●

Midwest & South and West ─ Advertising and marketing, rent expense, insurance, and other miscellaneous costs.

●

Contracted Sports Wagering ─ Credit loss expense net of recoveries, as well as certain overhead expenses.