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Financial Reporting By Business Segments (Tables) | 12 Months Ended
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Dec. 31, 2021
Financial Reporting By Business Segments |
Segments' Internal Financial Reports | The following information (amounts in thousands) is derived directly from the segments’ internal financial reports used for corporate management purposes.
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2021 |  | 2020 |  | 2019
Revenues: |  | ​ |  |  | ​ |  |  | ​ |
Hospitality | ​ | $ | 786,583 | ​ | $ | 466,045 | ​ | $ | 1,421,446
Entertainment | ​ |  | 152,790 | ​ |  | 58,430 | ​ |  | 183,120
Corporate and Other | ​ |  | — | ​ |  | — | ​ |  | —
Total | ​ | $ | 939,373 | ​ | $ | 524,475 | ​ | $ | 1,604,566
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation and amortization: | ​ |  |  | ​ |  |  | ​ |  |
Hospitality | ​ | $ | 203,675 | ​ | $ | 198,073 | ​ | $ | 201,068
Entertainment | ​ |  | 14,655 | ​ |  | 14,371 | ​ |  | 11,150
Corporate and Other | ​ |  | 2,027 | ​ |  | 2,638 | ​ |  | 1,629
Total | ​ | $ | 220,357 | ​ | $ | 215,082 | ​ | $ | 213,847
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating income (loss): | ​ |  |  | ​ |  |  | ​ |  |
Hospitality | ​ | $ | (38,013) | ​ | $ | (204,868) | ​ | $ | 263,203
Entertainment | ​ |  | 20,382 | ​ |  | (34,242) | ​ |  | 45,361
Corporate and Other | ​ |  | (40,624) | ​ |  | (31,433) | ​ |  | (37,911)
Preopening costs (1) | ​ |  | (737) | ​ |  | (1,665) | ​ |  | (3,122)
Gain on sale of assets (2) | ​ | ​ | 317 | ​ | ​ | 1,161 | ​ | ​ | —
Credit loss on held-to-maturity securities (3) | ​ | ​ | — | ​ | ​ | (32,784) | ​ | ​ | —
Total operating income (loss) | ​ |  | (58,675) | ​ |  | (303,831) | ​ |  | 267,531
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest expense | ​ |  | (125,347) | ​ |  | (115,783) | ​ |  | (131,620)
Interest income | ​ |  | 5,685 | ​ |  | 7,304 | ​ |  | 11,769
Loss on extinguishment of debt | ​ | ​ | (2,949) | ​ | ​ | — | ​ | ​ | (494)
Loss from unconsolidated joint ventures (4) | ​ |  | (8,963) | ​ |  | (6,451) | ​ |  | (1,110)
Other gains and (losses), net | ​ |  | 405 | ​ |  | (14,976) | ​ |  | 693
Income (loss) before income taxes | ​ | $ | (189,844) | ​ | $ | (433,737) | ​ | $ | 146,769
| (1) | Preopening costs for 2021 relate to the Hospitality segment. Preopening costs for 2020 include $0.3 million and $1.4 million for the Hospitality and Entertainment segments, respectively. Preopening costs for 2019 include $1.3 million and $1.9 million for the Hospitality and Entertainment segments, respectively.
| (2) | Gain on sale of assets for 2021 and 2020 relates to the Hospitality segment.
| (3) | Credit loss on held-to-maturity securities for 2020 relates to the Hospitality segment.
| (4) | Loss from unconsolidated joint ventures relates to the Entertainment segment.
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, |  | December 31,
​ | ​ | 2021 | ​ | 2020
Identifiable assets: |  | ​ |  |  | ​ |
Hospitality | ​ | $ | 3,266,679 | ​ | $ | 3,279,238
Entertainment | ​ |  | 214,270 | ​ |  | 185,178
Corporate and Other | ​ |  | 99,576 | ​ |  | 92,079
Total identifiable assets | ​ | $ | 3,580,525 | ​ | $ | 3,556,495
​
Capital Expenditures for Continuing Operations | The following table represents the capital expenditures by segment for the years ended December 31 (amounts in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2021 |  | 2020 |  | 2019
Hospitality | ​ | $ | 73,199 | ​ | $ | 146,654 | ​ | $ | 120,899
Entertainment | ​ |  | 3,560 | ​ |  | 13,697 | ​ |  | 25,000
Corporate and other | ​ |  | 667 | ​ |  | 5,112 | ​ |  | 6,642
Total capital expenditures | ​ | $ | 77,426 | ​ | $ | 165,463 | ​ | $ | 152,541

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- Definition Tabular disclosure of each significant reconciling item, other than profit (loss), revenues, or assets, in the reconciliation of totals of such items in reportable segments to the entity's corresponding consolidated amount. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
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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=123359005&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=123359005&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=123359005&loc=d3e8906-108599 + Details
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