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Financial Reporting By Business Segments (Tables) | 9 Months Ended
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Sep. 30, 2020
Financial Reporting By Business Segments |
Segments' Internal Financial Reports | The following information is derived directly from the segments’ internal financial reports used for corporate management purposes (amounts in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Nine Months Ended | ​
​ | ​ | September 30, | ​ | September 30, | ​
​ |  | 2020 |  | 2019 |  | 2020 |  | 2019 |
Revenues: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Hospitality | ​ | $ | 57,978 | ​ | $ | 328,257 | ​ | $ | 353,954 | ​ | $ | 1,022,896 | ​
Entertainment | ​ |  | 12,271 | ​ |  | 51,530 | ​ |  | 44,006 | ​ |  | 135,385 | ​
Corporate and Other | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​
Total | ​ | $ | 70,249 | ​ | $ | 379,787 | ​ | $ | 397,960 | ​ | $ | 1,158,281 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation and amortization: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​
Hospitality | ​ | $ | 49,310 | ​ | $ | 50,445 | ​ | $ | 148,667 | ​ | $ | 150,909 | ​
Entertainment | ​ |  | 3,985 | ​ |  | 3,132 | ​ |  | 10,492 | ​ |  | 8,441 | ​
Corporate and Other | ​ |  | 581 | ​ |  | 421 | ​ |  | 2,073 | ​ |  | 1,210 | ​
Total | ​ | $ | 53,876 | ​ | $ | 53,998 | ​ | $ | 161,232 | ​ | $ | 160,560 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating income: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​
Hospitality | ​ | $ | (78,322) | ​ | $ | 52,116 | ​ | $ | (154,633) | ​ | $ | 191,563 | ​
Entertainment | ​ |  | (9,057) | ​ |  | 14,376 | ​ |  | (26,632) | ​ |  | 34,222 | ​
Corporate and Other | ​ |  | (7,880) | ​ |  | (9,825) | ​ |  | (24,766) | ​ |  | (27,728) | ​
Preopening costs (1) | ​ |  | (96) | ​ |  | (164) | ​ |  | (1,597) | ​ |  | (2,274) | ​
Gain on sale of assets (2) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,261 | ​ | ​ | — | ​
Credit loss on held-to-maturity securities (3) | ​ | ​ | (7,811) | ​ | ​ | — | ​ | ​ | (32,784) | ​ | ​ | — | ​
Total operating income (loss) | ​ |  | (103,166) | ​ |  | 56,503 | ​ |  | (239,151) | ​ |  | 195,783 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest expense | ​ |  | (28,127) | ​ |  | (35,261) | ​ |  | (87,527) | ​ |  | (100,840) | ​
Interest income | ​ |  | 1,540 | ​ |  | 2,878 | ​ |  | 5,765 | ​ |  | 8,756 | ​
Loss from extinguishment of debt | ​ | ​ | — | ​ | ​ | (494) | ​ | ​ | — | ​ | ​ | (494) | ​
Loss from unconsolidated joint ventures | ​ |  | (1,767) | ​ |  | (308) | ​ |  | (5,482) | ​ |  | (475) | ​
Other gains and (losses), net | ​ |  | 1,729 | ​ |  | 1,109 | ​ |  | (14,831) | ​ |  | 857 | ​
Income (loss) before income taxes | ​ | $ | (129,791) | ​ | $ | 24,427 | ​ | $ | (341,226) | ​ | $ | 103,587 | ​
| (1) | Preopening costs for the three months ended September 30, 2020 relates to the Hospitality segment. Preopening costs for the nine months ended September 30, 2020 include $0.2 million and $1.4 million for the Hospitality and Entertainment segments, respectively. Preopening costs for the three months ended September 30, 2019 relate to the Entertainment segment. Preopening costs of the nine months ended September 30, 2019 include $0.6 million and $1.6 million for the Hospitality and Entertainment segments, respectively.
| (2) | Gain on sale of assets for the nine months ended September 30, 2020 relates to the Hospitality segment.
| (3) | Credit loss on held-to-maturity securities for the three months and nine months ended September 30, 2020 relates to the Hospitality segment.
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 30, |  | December 31,
​ | ​ | 2020 | ​ | 2019
Identifiable assets: |  | ​ |  |  | ​ |
Hospitality | ​ | $ | 3,310,128 | ​ | $ | 3,494,084
Entertainment | ​ |  | 188,848 | ​ |  | 181,036
Corporate and Other | ​ |  | 88,775 | ​ |  | 413,348
Total identifiable assets | ​ | $ | 3,587,751 | ​ | $ | 4,088,468

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599 + Details
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