| Mar'20 | Dec'19 | Sep'19 | Jun'19 | Mar'19 | Dec'18 | Sep'18 | Jun'18 | Mar'18 |
|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||
Net (loss) income | ||||||||
-8,878 | 13,355 | 6,999 | 17,180 | 17,596 | 22,130 | 16,374 | 20,300 | 12,634 |
Adjustments to reconcile net (loss) income to net cash provided by operating activities: | ||||||||
Depreciation of property and equipment | ||||||||
7,401 | 7,539 | 6,807 | 6,711 | 5,402 | 5,423 | 3,829 | 3,768 | 3,841 |
Amortization of intangible assets | ||||||||
1,578 | 1,489 | 1,522 | 1,522 | 1,367 | 1,395 | 1,367 | 1,367 | 1,371 |
Amortization of operating lease right of use assets | ||||||||
256 | 249 | 244 | 240 | 482 | 0 | 0 | 0 | 0 |
Share-based compensation - liability awards | ||||||||
- | - | - | - | - | -8,818 | -4,386 | 5,526 | 4,512 |
Share-based compensation - equity awards | ||||||||
5,542 | 1,019 | 1,028 | 1,628 | 151 | -7 | 689 | 504 | 506 |
Amortization of debt financial costs and discounts on debt | ||||||||
676 | 724 | 548 | 736 | 692 | - | - | - | - |
Amortization of deferred financing fees | ||||||||
- | - | - | - | - | - | - | - | 857 |
Amortization of original issue discount | ||||||||
- | - | - | - | - | - | - | - | 344 |
Bad debt expense | ||||||||
1,277 | 104 | 77 | 36 | 22 | 20 | 66 | 71 | 45 |
Deferred income taxes | ||||||||
-3,954 | - | - | - | 0 | - | - | - | 452 |
Gain (Loss) on Disposition of Business | ||||||||
- | - | - | - | - | 27 | -656 | 0 | -5,885 |
Gain on disposal of property and equipment | ||||||||
0 | -103 | -3 | 6 | 2 | -11 | 0 | -5 | 5 |
Changes in operating assets and liabilities: | ||||||||
Accounts receivable | ||||||||
-14,400 | 769 | -5,272 | -4,140 | 3,432 | -2,276 | 3,900 | 1,242 | 1,991 |
Inventory | ||||||||
146 | -121 | 332 | -400 | 278 | 503 | -538 | -250 | -557 |
Prepaid expenses and other assets | ||||||||
-4,949 | 6,338 | 6,890 | 6,735 | -5,791 | -644 | 3,580 | 1,694 | -2,852 |
Accounts payable | ||||||||
-6,582 | 1,579 | -5,139 | -5,089 | 4,789 | -5,144 | 7,465 | -5,360 | -1,039 |
Accrued liabilities | ||||||||
-7,915 | -7,001 | 5,897 | 9,468 | -7,597 | 5,810 | 4,210 | 2,931 | -2,006 |
Lease obligations | ||||||||
- | - | - | - | - | - | - | - | 0 |
Net cash provided by operating activities | ||||||||
17,312 | 21,398 | 16,036 | 31,683 | 24,983 | 27,199 | 26,610 | 26,620 | 28,815 |
Cash flows from investing activities: | ||||||||
Repayment of loans from officers and directors | ||||||||
- | - | - | - | - | 4,287 | 0 | 0 | 1,073 |
Acquisition of Dover Downs Gaming & Entertainment, Inc., net of cash acquired | ||||||||
- | - | - | - | - | 0 | 0 | 0 | 0 |
Capital expenditures, excluding Tiverton Casino Hotel and new hotel at Twin River Casino | ||||||||
2,999 | 4,937 | 4,531 | 8,902 | 4,212 | 6,767 | -500 | 3,619 | 1,988 |
Capital expenditures - Tiverton Casino Hotel | ||||||||
0 | 31 | 0 | 547 | 1,277 | 15,571 | 20,270 | 27,354 | 31,386 |
Capital expenditures - new hotel at Twin River Casino | ||||||||
0 | 35 | 24 | 1,731 | 2,010 | 1,654 | 6,680 | 4,965 | 9,136 |
Payments associated with licenses | ||||||||
- | - | - | - | - | -1 | 54 | 126 | 29 |
Net cash used in investing activities | ||||||||
-53,450 | -5,000 | -4,705 | -12,115 | -17,105 | -19,698 | -27,485 | -28,951 | -41,466 |
Cash flows from financing activities: | ||||||||
Revolver borrowings | ||||||||
250,000 | 0 | 0 | 0 | 25,000 | 0 | 15,000 | 6,000 | 20,000 |
Term loan repayments | ||||||||
750 | 750 | 750 | 341,239 | 1,200 | 1,200 | 1,200 | 1,200 | 30,927 |
Share repurchases | ||||||||
31,341 | 59,961 | 162,705 | 0 | 409 | 7,958 | 0 | 0 | 0 |
Stock options exercised via repayment of non-recourse notes | ||||||||
- | - | - | - | - | 3,387 | 0 | 1 | 889 |
Payment of shareholder dividends | ||||||||
3,199 | - | - | - | 0 | - | - | - | - |
Net cash provided by financing activities | ||||||||
212,227 | -65,555 | -167,558 | 258,618 | 23,391 | -11,992 | 13,800 | 4,801 | -10,038 |
Net change in cash and cash equivalents and restricted cash | ||||||||
176,089 | -49,157 | -156,227 | 278,186 | 31,269 | -4,491 | 12,925 | 2,470 | -22,689 |
Supplemental disclosure of cash flow information: | ||||||||
Cash paid for interest | ||||||||
3,743 | 18,971 | 5,109 | 4,674 | 6,286 | 6,173 | 5,959 | 5,791 | 5,255 |
Income Taxes Paid | ||||||||
- | - | - | - | - | 5,183 | 6,791 | 10,173 | 53 |
Non-cash investing and financing activities: | ||||||||
Unpaid property and equipment | ||||||||
896 | -79 | -116 | -5,314 | 5,928 | -17,146 | 6,058 | 5,150 | 13,011 |
Deposit applied to fixed asset purchases | ||||||||
0 | 0 | 0 | 0 | 981 | 0 | 0 | 0 | 0 |
Temporary Equity, Dividends, Adjustment | ||||||||
- | - | - | - | - | -2,214 | -1,036 | 1,305 | 1,305 |
Termination of operating leases via purchase of underlying assets | ||||||||
0 | 0 | 0 | 393 | 1,272 | 0 | 0 | 0 | 0 |
Stock issued for acquisition of Dover Downs Gaming & Entertainment, Inc. | ||||||||
0 | 0 | 0 | 0 | 86,780 | 0 | 0 | 0 | 0 |
Goodwill and Intangible Asset Impairment | ||||||||
8,700 | - | - | - | 0 | - | - | - | - |
Payment, Tax Withholding, Share-based Payment Arrangement | ||||||||
2,483 | - | - | - | 0 | - | - | - | - |
Income Taxes Paid, Net | ||||||||
-165 | - | - | - | 0 | - | - | - | - |
Dover Downs | ||||||||
Acquisition of Dover Downs Gaming & Entertainment, Inc., net of cash acquired | ||||||||
0 | - | - | - | 9,606 | - | - | - | - |
Black Hawk Casinos | ||||||||
Acquisition of Dover Downs Gaming & Entertainment, Inc., net of cash acquired | ||||||||
50,500 | - | - | - | 0 | - | - | - | - |