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Financial Reporting By Business Segments (Tables) | 12 Months Ended
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Dec. 31, 2023
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.
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021
Revenues: |  | ​ |  |  | ​ |  |  | ​ |
Hospitality | ​ | $ | 1,833,478 | ​ | $ | 1,537,974 | ​ | $ | 786,583
Entertainment | ​ |  | 324,658 | ​ |  | 267,995 | ​ |  | 152,790
Corporate and Other | ​ |  | — | ​ |  | — | ​ |  | —
Total | ​ | $ | 2,158,136 | ​ | $ | 1,805,969 | ​ | $ | 939,373
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation and amortization: | ​ |  |  | ​ |  |  | ​ |  |
Hospitality | ​ | $ | 186,749 | ​ | $ | 189,375 | ​ | $ | 203,675
Entertainment | ​ |  | 23,611 | ​ |  | 18,420 | ​ |  | 14,655
Corporate and Other | ​ |  | 867 | ​ |  | 821 | ​ |  | 2,027
Total | ​ | $ | 211,227 | ​ | $ | 208,616 | ​ | $ | 220,357
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating income (loss): | ​ |  |  | ​ |  |  | ​ |  |
Hospitality | ​ | $ | 421,264 | ​ | $ | 310,924 | ​ | $ | (38,013)
Entertainment | ​ |  | 77,384 | ​ |  | 61,030 | ​ |  | 20,382
Corporate and Other | ​ |  | (43,656) | ​ |  | (43,803) | ​ |  | (40,624)
Preopening costs | ​ |  | (1,308) | ​ |  | (532) | ​ |  | (737)
Loss on sale of assets | ​ | ​ | — | ​ | ​ | (469) | ​ | ​ | 317
Total operating income (loss) | ​ |  | 453,684 | ​ |  | 327,150 | ​ |  | (58,675)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest expense | ​ |  | (211,370) | ​ |  | (148,406) | ​ |  | (125,347)
Interest income | ​ |  | 21,423 | ​ |  | 5,750 | ​ |  | 5,685
Loss on extinguishment of debt | ​ | ​ | (2,252) | ​ | ​ | (1,547) | ​ | ​ | (2,949)
Loss from unconsolidated joint ventures (1) | ​ |  | (17,308) | ​ |  | (10,967) | ​ |  | (8,963)
Other gains and (losses), net | ​ |  | 3,921 | ​ |  | 1,743 | ​ |  | 405
Income (loss) before income taxes | ​ | $ | 248,098 | ​ | $ | 173,723 | ​ | $ | (189,844)
(1) Loss from unconsolidated joint ventures relates to the Entertainment segment.
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, |  | December 31,
​ | ​ | 2023 | ​ | 2022
Total assets: |  | ​ |  |  | ​ |
Hospitality | ​ | $ | 4,039,804 | ​ | $ | 3,314,444
Entertainment | ​ |  | 610,663 | ​ |  | 502,913
Corporate and Other | ​ |  | 538,070 | ​ |  | 223,266
Total assets | ​ | $ | 5,188,537 | ​ | $ | 4,040,623
​
Capital Expenditures for Continuing Operations | The following table represents the capital expenditures by segment for the years ended December 31 (amounts in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021
Hospitality | ​ | $ | 145,805 | ​ | $ | 70,406 | ​ | $ | 73,199
Entertainment | ​ |  | 60,428 | ​ |  | 18,767 | ​ |  | 3,560
Corporate and other | ​ |  | 543 | ​ |  | 347 | ​ |  | 667
Total capital expenditures | ​ | $ | 206,776 | ​ | $ | 89,520 | ​ | $ | 77,426
​

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- 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
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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 -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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