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Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table

Average

Average

Value of Initial Fixed $100

Summary

Compensation

Summary

Compensation

Investment Based on:

Compensation

Actually

Compensation

Actually

Peer Group

Table Total

Paid

Table Total for

Paid to

Total

Total

for

to

non-PEO

non-PEO

Shareholder

Shareholder

Adjusted

Year

PEO (1)(3)

PEO (1)(5)

NEO (2)(3)

NEO (2)(5)

Return (6)

Return (6)(7)

Net Income

EBITDA (8)

2020

$

2,253,287

$

6,047,734

$

638,818

$

1,673,016

$

126.10

 

$

115.48

$

23,678,675

$

43,161,156

2021

$

5,442,917

(4)

$

10,571,793

(4)

$

1,192,276

(4)

$

2,730,885

(4)

$

152.32

 

$

113.77

$

68,487,227

$

137,294,593

2022

$

3,496,113

$

6,859,004

$

961,573

$

1,892,490

$

158.37

 

$

90.05

$

87,478,678

$

167,085,251

2023

$

3,209,187

$

3,968,862

$

904,481

 

$

1,082,691

$

154.22

 

$

104.02

$

82,448,188

$

170,832,406

(1)

During the period 2021-2023, our PEO was our CEO, John Farahi.

(2)

During the period 2021-2023, our non-PEO NEOs were our President, Bob Farahi, and our CAO, Edwin S. Koenig.

(3)

Amounts derived directly from the “Summary Compensation Table”.

(4)

The amount includes a one-time stock bonus awards granted to the CEO and the President for successful completion of the 5-year expansion project.

(5)

Reconciliation of Compensation Actually Paid to Summary Compensation Total.

Year

Summary Compensation Table Total

Fair Value at Grant Date of Stock Awards Granted in the Covered Fiscal Year (deduct)

Fair Value at Grant Date of Option Awards Granted in the Covered Fiscal Year (deduct)

Fair Value at Fiscal Year-End of Stock Awards Granted in the Covered Fiscal Year (add)

Fair Value at Fiscal Year-End of Option Awards Granted in the Covered Fiscal Year (add)

Change in Fair Value at Fiscal Year-End from that at Prior Year-End of any Outstanding and Unvested at Year-End Option Awards Granted in Prior Years (add)

Change in Fair Value at Vesting Date from that at Prior Year-End of any Option Awards Vested During the Current Year and Granted in Prior Years (add)

Compensation Actually Paid

PEO

2020

$

2,253,287

$

$

1,632,278

$

$

4,081,415

$

1,689,316

$

(344,007)

$

6,047,734

2021

$

5,442,917

$

1,272,900

$

2,114,758

$

1,109,250

$

4,929,951

$

1,697,342

$

779,992

$

10,571,793

2022

$

3,496,113

$

$

2,573,722

$

$

5,125,949

$

392,002

$

418,662

$

6,859,004

2023

$

3,209,187

$

$

2,302,418

$

$

4,610,092

$

(1,031,990)

$

(516,010)

$

3,968,862

Average Non-PEO NEO

2020

$

638,818

$

$

436,721

$

$

1,122,377

$

464,565

$

(116,022)

$

1,673,016

2021

$

1,192,276

$

318,225

$

641,983

$

277,313

$

1,540,637

$

466,765

$

214,102

$

2,730,885

2022

$

961,573

$

$

689,592

$

$

1,409,624

$

115,151

$

95,733

$

1,892,490

2023

$

904,481

$

$

634,916

$

$

1,269,929

$

(303,149)

$

(153,654)

$

1,082,691

(6)

Amounts derived from the performance graph presented in Company’s Annual Report on SEC Form 10-K for the Year Ended December 31, 2023, filed on February 28, 2024.

(7)

Peer group is S&P 1500 Casino & Gaming Index.

(8)

Adjusted EBITDA, a non-GAAP financial measure, consists of net income plus loss on disposal of assets, provision for income taxes, stock-based compensation expense, other one-time charges, pre-opening expenses, construction litigation expenses, acquisition expenses, interest expense, depreciation and amortization less interest income, any benefit for income taxes and gain on disposal of assets. Adjusted EBITDA should not be construed as an alternative to operating income (as determined in accordance with US Generally Accepted Accounting Principles), as an indicator of the Company's operating performance, as an alternative to cash flows from operating activities (as determined in accordance with US GAAP) or as a measure of liquidity. This measure enables comparison of the Company's performance over multiple periods, as well as against the performance of other companies in our industry that report Adjusted EBITDA, although some companies do not calculate this measure in the same manner and, therefore, the measure as presented may not be comparable to similarly titled measures presented by other companies.

     
Company Selected Measure Name Adjusted EBITDA      
Named Executive Officers, Footnote

(1)

During the period 2021-2023, our PEO was our CEO, John Farahi.

(2)

During the period 2021-2023, our non-PEO NEOs were our President, Bob Farahi, and our CAO, Edwin S. Koenig.

     
Peer Group Issuers, Footnote

(7)

Peer group is S&P 1500 Casino & Gaming Index.

     
PEO Total Compensation Amount $ 3,209,187 $ 3,496,113 $ 5,442,917 $ 2,253,287
PEO Actually Paid Compensation Amount $ 3,968,862 6,859,004 10,571,793 6,047,734
Adjustment To PEO Compensation, Footnote

(5)

Reconciliation of Compensation Actually Paid to Summary Compensation Total.

Year

Summary Compensation Table Total

Fair Value at Grant Date of Stock Awards Granted in the Covered Fiscal Year (deduct)

Fair Value at Grant Date of Option Awards Granted in the Covered Fiscal Year (deduct)

Fair Value at Fiscal Year-End of Stock Awards Granted in the Covered Fiscal Year (add)

Fair Value at Fiscal Year-End of Option Awards Granted in the Covered Fiscal Year (add)

Change in Fair Value at Fiscal Year-End from that at Prior Year-End of any Outstanding and Unvested at Year-End Option Awards Granted in Prior Years (add)

Change in Fair Value at Vesting Date from that at Prior Year-End of any Option Awards Vested During the Current Year and Granted in Prior Years (add)

Compensation Actually Paid

PEO

2020

$

2,253,287

$

$

1,632,278

$

$

4,081,415

$

1,689,316

$

(344,007)

$

6,047,734

2021

$

5,442,917

$

1,272,900

$

2,114,758

$

1,109,250

$

4,929,951

$

1,697,342

$

779,992

$

10,571,793

2022

$

3,496,113

$

$

2,573,722

$

$

5,125,949

$

392,002

$

418,662

$

6,859,004

2023

$

3,209,187

$

$

2,302,418

$

$

4,610,092

$

(1,031,990)

$

(516,010)

$

3,968,862

Average Non-PEO NEO

2020

$

638,818

$

$

436,721

$

$

1,122,377

$

464,565

$

(116,022)

$

1,673,016

2021

$

1,192,276

$

318,225

$

641,983

$

277,313

$

1,540,637

$

466,765

$

214,102

$

2,730,885

2022

$

961,573

$

$

689,592

$

$

1,409,624

$

115,151

$

95,733

$

1,892,490

2023

$

904,481

$

$

634,916

$

$

1,269,929

$

(303,149)

$

(153,654)

$

1,082,691

     
Non-PEO NEO Average Total Compensation Amount $ 904,481 961,573 1,192,276 638,818
Non-PEO NEO Average Compensation Actually Paid Amount $ 1,082,691 1,892,490 2,730,885 1,673,016
Adjustment to Non-PEO NEO Compensation Footnote

(5)

Reconciliation of Compensation Actually Paid to Summary Compensation Total.

Year

Summary Compensation Table Total

Fair Value at Grant Date of Stock Awards Granted in the Covered Fiscal Year (deduct)

Fair Value at Grant Date of Option Awards Granted in the Covered Fiscal Year (deduct)

Fair Value at Fiscal Year-End of Stock Awards Granted in the Covered Fiscal Year (add)

Fair Value at Fiscal Year-End of Option Awards Granted in the Covered Fiscal Year (add)

Change in Fair Value at Fiscal Year-End from that at Prior Year-End of any Outstanding and Unvested at Year-End Option Awards Granted in Prior Years (add)

Change in Fair Value at Vesting Date from that at Prior Year-End of any Option Awards Vested During the Current Year and Granted in Prior Years (add)

Compensation Actually Paid

PEO

2020

$

2,253,287

$

$

1,632,278

$

$

4,081,415

$

1,689,316

$

(344,007)

$

6,047,734

2021

$

5,442,917

$

1,272,900

$

2,114,758

$

1,109,250

$

4,929,951

$

1,697,342

$

779,992

$

10,571,793

2022

$

3,496,113

$

$

2,573,722

$

$

5,125,949

$

392,002

$

418,662

$

6,859,004

2023

$

3,209,187

$

$

2,302,418

$

$

4,610,092

$

(1,031,990)

$

(516,010)

$

3,968,862

Average Non-PEO NEO

2020

$

638,818

$

$

436,721

$

$

1,122,377

$

464,565

$

(116,022)

$

1,673,016

2021

$

1,192,276

$

318,225

$

641,983

$

277,313

$

1,540,637

$

466,765

$

214,102

$

2,730,885

2022

$

961,573

$

$

689,592

$

$

1,409,624

$

115,151

$

95,733

$

1,892,490

2023

$

904,481

$

$

634,916

$

$

1,269,929

$

(303,149)

$

(153,654)

$

1,082,691

     
Compensation Actually Paid vs. Total Shareholder Return

Graphic

     
Compensation Actually Paid vs. Net Income

Graphic

     
Compensation Actually Paid vs. Company Selected Measure

Graphic

     
Total Shareholder Return Vs Peer Group

Graphic

     
Tabular List, Table

Financial Performance Measures List

The following are financial performance measures, which in the Company’s assessment, represent the most important financial performance measures used by the Company to link compensation actually paid to the NEOs for 2023:

Net Revenue
Net Income
Adjusted EBITDA
Adjusted EBITDA Margin
Diluted Earnings per Share
Free Cash Flow
Leverage Ratio
     
Total Shareholder Return Amount $ 154.22 158.37 152.32 126.10
Peer Group Total Shareholder Return Amount 104.02 90.05 113.77 115.48
Net Income (Loss) $ 82,448,188 $ 87,478,678 $ 68,487,227 $ 23,678,675
Company Selected Measure Amount 170,832,406 167,085,251 137,294,593 43,161,156
PEO Name John Farahi      
Period of Expansion Project 5 years      
Measure:: 1        
Pay vs Performance Disclosure        
Name Net Revenue      
Non-GAAP Measure Description

(8)

Adjusted EBITDA, a non-GAAP financial measure, consists of net income plus loss on disposal of assets, provision for income taxes, stock-based compensation expense, other one-time charges, pre-opening expenses, construction litigation expenses, acquisition expenses, interest expense, depreciation and amortization less interest income, any benefit for income taxes and gain on disposal of assets. Adjusted EBITDA should not be construed as an alternative to operating income (as determined in accordance with US Generally Accepted Accounting Principles), as an indicator of the Company's operating performance, as an alternative to cash flows from operating activities (as determined in accordance with US GAAP) or as a measure of liquidity. This measure enables comparison of the Company's performance over multiple periods, as well as against the performance of other companies in our industry that report Adjusted EBITDA, although some companies do not calculate this measure in the same manner and, therefore, the measure as presented may not be comparable to similarly titled measures presented by other companies.

     
Measure:: 2        
Pay vs Performance Disclosure        
Name Net Income      
Measure:: 3        
Pay vs Performance Disclosure        
Name Adjusted EBITDA      
Measure:: 4        
Pay vs Performance Disclosure        
Name Adjusted EBITDA Margin      
Measure:: 5        
Pay vs Performance Disclosure        
Name Diluted Earnings per Share      
Measure:: 6        
Pay vs Performance Disclosure        
Name Free Cash Flow      
Measure:: 7        
Pay vs Performance Disclosure        
Name Leverage Ratio      
PEO | Fair Value at Grant Date of Stock Awards Granted in the Covered Fiscal Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount     $ (1,272,900)  
PEO | Fair Value at Grant Date of Option Awards Granted in the Covered Fiscal Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (2,302,418) $ (2,573,722) (2,114,758) $ (1,632,278)
PEO | Fair Value at Fiscal Year-End of Stock Awards Granted in the Covered Fiscal Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount     1,109,250  
PEO | Fair Value at Fiscal Year-End of Option Awards Granted in the Covered Fiscal Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 4,610,092 5,125,949 4,929,951 4,081,415
PEO | Change in Fair Value at Fiscal Year-End from that at Prior Year-End of any Outstanding and Unvested at Year-End Option Awards Granted in Prior Years        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (1,031,990) 392,002 1,697,342 1,689,316
PEO | Change in Fair Value at Vesting Date from that at Prior Year-End of any Option Awards Vested During the Current Year and Granted in Prior Years        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (516,010) 418,662 779,992 (344,007)
Non-PEO NEO | Fair Value at Grant Date of Stock Awards Granted in the Covered Fiscal Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount     (318,225)  
Non-PEO NEO | Fair Value at Grant Date of Option Awards Granted in the Covered Fiscal Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (634,916) (689,592) (641,983) (436,721)
Non-PEO NEO | Fair Value at Fiscal Year-End of Stock Awards Granted in the Covered Fiscal Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount     277,313  
Non-PEO NEO | Fair Value at Fiscal Year-End of Option Awards Granted in the Covered Fiscal Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,269,929 1,409,624 1,540,637 1,122,377
Non-PEO NEO | Change in Fair Value at Fiscal Year-End from that at Prior Year-End of any Outstanding and Unvested at Year-End Option Awards Granted in Prior Years        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (303,149) 115,151 466,765 464,565
Non-PEO NEO | Change in Fair Value at Vesting Date from that at Prior Year-End of any Option Awards Vested During the Current Year and Granted in Prior Years        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (153,654) $ 95,733 $ 214,102 $ (116,022)