XML 58 R38.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Note 14 - Segment Information (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Notes Tables |
Reconciliation of Revenue from Segments to Consolidated [Table Text Block] |
|  | Year Ended December 31, 2023 |
|  |  |  |  |  | Food & |  |  |  |  |  |  |  |  |  |  | Management |  |  |  |  |  |  |  |  |
|  | Gaming |  |  | Beverage |  |  | Room |  |  | Online |  |  | Fee |  |  | Other |  |  | Total |
(In thousands) |  | Revenue |  |  | Revenue |  |  | Revenue |  |  | Revenue |  |  | Revenue |  |  | Revenue |  |  | Revenue |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Las Vegas Locals |  | $ | 684,661 |  |  | $ | 90,182 |  |  | $ | 96,157 |  |  | $ | — |  |  | $ | — |  |  | $ | 57,118 |  |  | $ | 928,118 |
Downtown Las Vegas |  |  | 143,899 |  |  |  | 42,252 |  |  |  | 24,986 |  |  |  | — |  |  |  | — |  |  |  | 11,270 |  |  |  | 222,407 |
Midwest & South |  |  | 1,741,068 |  |  |  | 155,983 |  |  |  | 77,974 |  |  |  | — |  |  |  | — |  |  |  | 66,920 |  |  |  | 2,041,945 |
Online |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 422,211 |  |  |  | — |  |  |  | — |  |  |  | 422,211 |
Managed & Other |  |  | 43,660 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 76,921 |  |  |  | 3,230 |  |  |  | 123,811 |
Total Revenues |  | $ | 2,613,288 |  |  | $ | 288,417 |  |  | $ | 199,117 |  |  | $ | 422,211 |  |  | $ | 76,921 |  |  | $ | 138,538 |  |  | $ | 3,738,492 |
|  | Year Ended December 31, 2022 (1) |
|  |  |  |  |  | Food & |  |  |  |  |  |  |  |  |  |  | Management |  |  |  |  |  |  |  |  |
|  | Gaming |  |  | Beverage |  |  | Room |  |  | Online |  |  | Fee |  |  | Other |  |  | Total |
(In thousands) |  | Revenue |  |  | Revenue |  |  | Revenue |  |  | Revenue |  |  | Revenue |  |  | Revenue |  |  | Revenue |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Las Vegas Locals |  | $ | 700,230 |  |  | $ | 88,219 |  |  | $ | 87,726 |  |  | $ | — |  |  | $ | — |  |  | $ | 54,555 |  |  | $ | 930,730 |
Downtown Las Vegas |  |  | 139,115 |  |  |  | 41,578 |  |  |  | 24,950 |  |  |  | — |  |  |  | — |  |  |  | 9,689 |  |  |  | 215,332 |
Midwest & South |  |  | 1,788,494 |  |  |  | 146,182 |  |  |  | 76,395 |  |  |  | — |  |  |  | — |  |  |  | 64,995 |  |  |  | 2,076,066 |
Online |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 253,898 |  |  |  | — |  |  |  | — |  |  |  | 253,898 |
Managed & Other |  |  | 46,891 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 26,905 |  |  |  | 5,555 |  |  |  | 79,351 |
Total Revenues |  | $ | 2,674,730 |  |  | $ | 275,979 |  |  | $ | 189,071 |  |  | $ | 253,898 |  |  | $ | 26,905 |  |  | $ | 134,794 |  |  | $ | 3,555,377 |
|  | Year Ended December 31, 2021 (1) |
|  |  |  |  |  | Food & |  |  |  |  |  |  |  |  |  |  | Management |  |  |  |  |  |  |  |  |
|  | Gaming |  |  | Beverage |  |  | Room |  |  | Online |  |  | Fee |  |  | Other |  |  | Total |
(In thousands) |  | Revenue |  |  | Revenue |  |  | Revenue |  |  | Revenue |  |  | Revenue |  |  | Revenue |  |  | Revenue |
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Las Vegas Locals |  | $ | 695,635 |  |  | $ | 74,771 |  |  | $ | 71,586 |  |  | $ | — |  |  | $ | — |  |  | $ | 44,062 |  |  | $ | 886,054 |
Downtown Las Vegas |  |  | 105,539 |  |  |  | 28,149 |  |  |  | 15,042 |  |  |  | — |  |  |  | — |  |  |  | 7,076 |  |  |  | 155,806 |
Midwest & South |  |  | 1,855,279 |  |  |  | 127,125 |  |  |  | 67,552 |  |  |  | — |  |  |  | — |  |  |  | 55,821 |  |  |  | 2,105,777 |
Online |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 172,518 |  |  |  | — |  |  |  | — |  |  |  | 172,518 |
Managed & Other |  |  | 49,070 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 585 |  |  |  | 49,655 |
Total Revenues |  | $ | 2,705,523 |  |  | $ | 230,045 |  |  | $ | 154,180 |  |  | $ | 172,518 |  |  | $ | — |  |  | $ | 107,544 |  |  | $ | 3,369,810 |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block] |
|  | Year Ended December 31, |
(In thousands) |  | 2023 |  |  | 2022 (1) |  |  | 2021 (1) |
Adjusted EBITDAR |  |  |  |  |  |  |  |  |  |  |  |
Las Vegas Locals |  | $ | 470,971 |  |  | $ | 481,643 |  |  | $ | 473,187 |
Downtown Las Vegas |  |  | 85,507 |  |  |  | 86,049 |  |  |  | 51,300 |
Midwest & South |  |  | 781,673 |  |  |  | 830,782 |  |  |  | 892,090 |
Online |  |  | 62,337 |  |  |  | 39,778 |  |  |  | 23,583 |
Managed & Other |  |  | 84,478 |  |  |  | 40,981 |  |  |  | 11,282 |
Corporate expense |  |  | (90,175 | ) |  |  | (88,724 | ) |  |  | (85,457 | )
Adjusted EBITDAR |  |  | 1,394,791 |  |  |  | 1,390,509 |  |  |  | 1,365,985 |
Other operating costs and expenses |  |  |  |  |  |  |  |  |  |  |  |
Deferred rent |  |  | 708 |  |  |  | 768 |  |  |  | 828 |
Master lease rent expense |  |  | 108,398 |  |  |  | 106,616 |  |  |  | 104,702 |
Depreciation and amortization |  |  | 256,780 |  |  |  | 258,179 |  |  |  | 267,787 |
Share-based compensation expense |  |  | 32,379 |  |  |  | 34,066 |  |  |  | 37,773 |
Project development, preopening and writedowns |  |  | (8,935 | ) |  |  | (18,936 | ) |  |  | 31,815 |
Impairment of assets |  |  | 107,837 |  |  |  | 40,775 |  |  |  | 8,200 |
Other operating items, net |  |  | (4,207 | ) |  |  | (12,183 | ) |  |  | 14,776 |
Total other operating costs and expenses |  |  | 492,960 |  |  |  | 409,285 |  |  |  | 465,881 |
Operating income |  |  | 901,831 |  |  |  | 981,224 |  |  |  | 900,104 |
Other expense (income) |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  | (23,886 | ) |  |  | (21,530 | ) |  |  | (1,819 | )
Interest expense, net of amounts capitalized |  |  | 171,247 |  |  |  | 151,249 |  |  |  | 199,442 |
Loss on early extinguishments and modifications of debt |  |  | — |  |  |  | 19,815 |  |  |  | 95,155 |
Other, net |  |  | 1,563 |  |  |  | 2,884 |  |  |  | 3,387 |
Total other expense, net |  |  | 148,924 |  |  |  | 152,418 |  |  |  | 296,165 |
Income before income taxes |  |  | 752,907 |  |  |  | 828,806 |  |  |  | 603,939 |
Income tax provision |  |  | (132,884 | ) |  |  | (189,429 | ) |  |  | (140,093 | )
Net income |  | $ | 620,023 |  |  | $ | 639,377 |  |  | $ | 463,846 |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] |
|  | December 31, |  |  | December 31, |
(In thousands) |  | 2023 |  |  | 2022 |
Assets |  |  |  |  |  |  |  |
Las Vegas Locals |  | $ | 1,634,732 |  |  | $ | 1,613,553 |
Downtown Las Vegas |  |  | 295,494 |  |  |  | 265,876 |
Midwest & South |  |  | 3,805,301 |  |  |  | 3,745,476 |
Online |  |  | 155,356 |  |  |  | 226,800 |
Managed & Other |  |  | 124,161 |  |  |  | 207,962 |
Corporate |  |  | 258,082 |  |  |  | 251,460 |
Total Assets |  | $ | 6,273,126 |  |  | $ | 6,311,127 |
Segment, Reconciliation of Other Items from Segments to Consolidated [Table Text Block] |
|  | Year Ended December 31, |
(In thousands) |  | 2023 |  |  | 2022 |  |  | 2021 |
Capital Expenditures |  |  |  |  |  |  |  |  |  |  |  |
Las Vegas Locals |  | $ | 82,918 |  |  | $ | 37,339 |  |  | $ | 24,724 |
Downtown Las Vegas |  |  | 42,233 |  |  |  | 52,423 |  |  |  | 36,954 |
Midwest & South |  |  | 200,577 |  |  |  | 109,475 |  |  |  | 88,668 |
Online |  |  | 224 |  |  |  | 462 |  |  |  | — |
Managed & Other |  |  | 5,001 |  |  |  | 4,104 |  |  |  | 2,326 |
Corporate |  |  | 55,776 |  |  |  | 67,874 |  |  |  | 49,953 |
Total Capital Expenditures |  |  | 386,729 |  |  |  | 271,677 |  |  |  | 202,625 |
Change in Accrued Capital Expenditure Additions |  |  | (12,779 | ) |  |  | (2,522 | ) |  |  | (3,173 | )
Cash-Based Capital Expenditures |  | $ | 373,950 |  |  | $ | 269,155 |  |  | $ | 199,452 |

X
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of reconciliation of other items from reportable segments to their consolidated amount. Excludes reconciliation of revenue, profit (loss), and assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ReconciliationOfOtherSignificantReconcilingItemsFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ReconciliationOfRevenueFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_TableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration