Transactions With Related Parties

12 Months Ended

Dec. 31, 2024

Transactions With Related Parties [Abstract]

Transactions With Related Parties

17.  TRANSACTIONS WITH RELATED PARTIES

The Company has entered into separate management agreements with Flyfish Management & Consulting AG (“Flyfish”), a management company controlled by Co CEO Erwin Haitzmann, and with Focus Lifestyle and Entertainment AG (“Focus”), a management company controlled by Co CEO Peter Hoetzinger’s family trust/foundation, to secure the services of each officer and related management company. Both Co CEOs are responsible for planning, directing, and controlling the activities of the Company. Included in the consolidated statements of (loss) earnings are payments to both Flyfish and Focus for a total of $0.8 million, $0.8 million, and $0.7 million for the years ended December 31, 2024, 2023 and 2022, respectively.

The Company had a liability with Marnell, with which the Company owns 50% of Smooth Bourbon, of less than $0.1 million related to open invoices in accounts payable for general contracting and consulting services on its consolidated balance sheet for the year ended December 31, 2023. There were no liabilities related to Marnell on the Company’s consolidated balance sheet for the year ended December 31, 2024.

The Company also entered into a consulting agreement with Marnell for services after the Nugget Acquisition was completed. Fees incurred under the agreement were $0.4 million for the year ended December 31, 2023 and were recorded as general and administrative expenses in the United States segment. The agreement ended on September 30, 2023. Additional expenses related to Marnell were less than $0.1 million for the years ended December 31, 2024 and 2023 and were recorded as general and administrative expenses in the United States segment.