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Note 2 - Property and Equipment, Net

9 Months Ended

Sep. 30, 2025

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

NOTE 2.    PROPERTY AND EQUIPMENT, NET

Property and equipment, net consists of the following:

		September 30,				December 31,
(In thousands)		2025				2024
Land		$	356,696			$	338,469
Buildings and improvements			3,461,165				3,398,700
Furniture and equipment			1,981,528				1,870,124
Riverboats and barges			208,196				211,879
Construction in progress			293,609				148,571
Total property and equipment			6,301,194				5,967,743
Less accumulated depreciation			(3,459,294	)			(3,288,467	)
Property and equipment, net		$	2,841,900			$	2,679,276

Depreciation expense is as follows:

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
(In thousands)		2025				2024				2025				2024
Depreciation expense		$	68,802			$	66,190			$	198,168			$	186,566

During the nine months ended September 30, 2025, as a result of our first quarter 2025 impairment review, the Company recorded a long-lived asset impairment charge of $32.3 million for property and equipment related to our Las Vegas Locals segment. In addition, as a result of our third quarter 2025 impairment review, the Company recorded long-lived asset impairment charges of $47.3 million for property and equipment related to our Midwest & South segment and $17.8 million for property and equipment related to our Las Vegas Locals segment. To determine the value of the long-lived asset and the resulting impairment, we utilized the income approach which focuses on the income-producing capability of the asset and the sales comparison approach which focuses on comparable sales transactions. These noncash impairment charges are recorded in impairment of assets on the condensed consolidated statement of operations. There were no impairments of our property and equipment long-lived assets during the nine months ended September 30, 2024.

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The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections.

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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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