(in thousands, except share and per share data)

The following table presents the condensed consolidated balance sheet as previously reported, restatement adjustments and the condensed consolidated balance sheet as restated at March 31, 2015:

	As Previously			Restatement
	Reported			Adjustments			As Restated

Assets
Current assets
Cash and cash equivalents	$	237,729		$	—		$	237,729
Receivables, net of allowance for doubtful accounts of $2,093	40,918			—			40,918
Prepaid expenses	82,381			4,039			86,420
Deferred income taxes	45,302			(11,395		)	33,907
Other current assets	10,913			—			10,913

Total current assets	417,243			(7,356		)	409,887

Property and equipment, net	802,520			1,880,141			2,682,661
Other assets
Investment in and advances to unconsolidated affiliates	175,574						175,574
Goodwill	276,173			598,011			874,184
Other intangible assets, net	370,602			47,503			418,105
Deferred income taxes	74,492			(74,492		)	—
Advances to the Jamul Tribe	86,443			—			86,443
Other assets	77,631			—			77,631

Total other assets	1,060,915			571,022			1,631,937

Total assets	$	2,280,678		$	2,443,807		$	4,724,485


Liabilities
Current liabilities
Current portion of financing obligation to GLPI	$	—		$	47,057		$	47,057
Current maturities of long-term debt	40,890			—			40,890
Accounts payable	66,587			—			66,587
Accrued expenses	135,518			2,221			137,739
Accrued interest	11,427			—			11,427
Accrued salaries and wages	69,671			—			69,671
Gaming, pari-mutuel, property, and other taxes	55,762			(36		)	55,726
Insurance financing	10,251			—			10,251
Other current liabilities	64,771			—			64,771

Total current liabilities	454,877			49,242			504,119


Long-term liabilities
Long-term financing obligation to GLPI, net of current portion	—			3,551,981			3,551,981
Long-term debt, net of current maturities and debt issuance costs	1,235,061			5,398			1,240,459
Deferred income taxes	—			90,336			90,336
Noncurrent tax liabilities	8,171			(1,063		)	7,108
Other noncurrent liabilities	7,570			19,540			27,110

Total long-term liabilities	1,250,802			3,666,192			4,916,994


Shareholders’ equity (deficit)
Series C Preferred stock ($.01 par value, 18,500 shares authorized, 8,624 shares issued and outstanding at March 31, 2015)	—			—			—
Common stock ($.01 par value, 200,000,000 shares authorized, 81,873,026 shares issued and 79,705,633 shares outstanding, at March 31, 2015)	791			27			818
Treasury stock, at cost (2,167,393 shares issued and held at March 31, 2015)	—			(28,414		)	(28,414		)
Additional paid-in capital	929,598			37,776			967,374
Retained deficit	(352,392		)	(1,281,016		)	(1,633,408		)
Accumulated other comprehensive (loss) income	(2,998		)	—			(2,998		)

Total shareholders’ equity (deficit)	574,999			(1,271,627		)	(696,628		)

Total liabilities and shareholders’ equity (deficit)	$	2,280,678		$	2,443,807		$	4,724,485

The following table presents the condensed consolidated balance sheet as previously reported, restatement adjustments and the condensed consolidated balance sheet as restated at December 31, 2014:

	As Previously			Restatement
	Reported			Adjustments			As Restated

Assets
Current assets
Cash and cash equivalents	$	208,673		$	—		$	208,673
Receivables, net of allowance for doubtful accounts of $2,004	41,618			—			41,618
Prepaid expenses	68,947			1,838			70,785
Deferred income taxes	55,579			(15,236		)	40,343
Other current assets	11,189			—			11,189

Total current assets	386,006			(13,398		)	372,608

Property and equipment, net	769,145			1,900,587			2,669,732
Other assets
Investment in and advances to unconsolidated affiliates	179,551			—			179,551
Goodwill	277,582			596,602			874,184
Other intangible assets, net	370,562			48,891			419,453
Deferred income taxes	79,067			(79,067		)	—
Advances to Jamul Tribe	62,048						62,048
Other assets	87,318			—			87,318

Total other assets	1,056,128			566,426			1,622,554

Total assets	$	2,211,279		$	2,453,615		$	4,664,894


Liabilities
Current liabilities
Current portion of financing obligation to GLPI	—			46,884			46,884
Current maturities of long-term debt	30,853			—			30,853
Accounts payable	43,136			—			43,136
Accrued expenses	130,818			2,274			133,092
Accrued interest	5,163			—			5,163
Accrued salaries and wages	84,034			—			84,034
Gaming, pari-mutuel, property, and other taxes	52,132			(160		)	51,972
Insurance financing	13,680			—			13,680
Other current liabilities	75,703			70			75,773

Total current liabilities	435,519			49,068			484,587


Long-term liabilities
Long-term financing obligation to GLPI, net of current portion	—			3,564,629			3,564,629
Long-term debt, net of current maturities and debt issuance costs	1,204,828			5,749			1,210,577
Deferred income taxes	—			78,633			78,633
Noncurrent tax liabilities	8,188			(1,153		)	7,035
Other noncurrent liabilities	8,258			19,189			27,447

Total long-term liabilities	1,221,274			3,667,047			4,888,321


Shareholders’ equity (deficit)
Series C Preferred stock ($.01 par value, 18,500 shares authorized, 8,624 shares issued and outstanding at December 31, 2014)	—			—			—
Common stock ($.01 par value, 200,000,000 shares authorized, 81,329,210 shares issued and 79,161,817 share outstanding, at December 31, 2014)	786			27			813
Treasury stock, at cost (2,167,393 shares held at December 31, 2014)	—			(28,414		)	(28,414		)
Additional paid-in capital	918,370			37,776			956,146
Retained deficit	(363,388		)	(1,271,889		)	(1,635,277		)
Accumulated other comprehensive (loss) income	(1,282		)	—			(1,282		)

Total shareholders’ equity (deficit)	554,486			(1,262,500		)	(708,014		)

Total liabilities and shareholders’ equity (deficit)	$	2,211,279		$	2,453,615		$	4,664,894

The following table presents the condensed consolidated statement of income as previously reported, restatement adjustments and the condensed consolidated statement of income as restated for the three months ended March 31, 2015:

	As Previously			Restatement
	Reported			Adjustments			As Restated

Revenues
Gaming	$	591,336		$	—		$	591,336
Food, beverage and other	108,763			—			108,763
Management service fee	1,927			—			1,927

Revenues	702,026			—			702,026
Less promotional allowances	(37,888		)	—			(37,888		)

Net revenues	664,138			—			664,138

Operating expenses
Gaming expense	294,895			—			294,895
Food, beverage and other	77,929			—			77,929
General and administrative	116,069			187			116,256
Rental expense related to Master Lease	108,845			(108,845		)	—
Depreciation and amortization	42,922			20,447			63,369

Total operating expenses	640,660			(88,211		)	552,449

Income from operations	23,478			88,211			111,689


Other income (expenses)
Interest expense	(12,163		)	(96,183		)	(108,346		)
Interest income	1,870			—			1,870
Income from unconsolidated affiliates	3,982			—			3,982
Other	3,089			—			3,089

Total other expenses	(3,222		)	(96,183		)	(99,405		)


Income from operations before income taxes	20,256			(7,972		)	12,284
Income tax (benefit) provision	9,260			1,155			10,415

Net income	$	10,996		$	(9,127	)	$	1,869


Earnings per common share:
Basic earnings per common share	$	0.12		$	(0.10	)	$	0.02
Diluted earnings per common share	$	0.12		$	(0.10	)	$	0.02

	As Previously			Restatement
	Reported			Adjustments			As Restated

Revenues
Gaming	$	570,683		$	—		$	570,683
Food, beverage and other	104,870			—			104,870
Management service fee	2,458			—			2,458

Revenues	678,011			—			678,011
Less promotional allowances	(36,931		)	—			(36,931		)

Net revenues	641,080			—			641,080

Operating expenses
Gaming expense	286,077			(2,809		)	283,268
Food, beverage and other	77,538			—			77,538
General and administrative	107,739			(164		)	107,575
Rental expense related to Master Lease	104,309			(104,309		)	—
Depreciation and amortization	47,366			22,819			70,185

Total operating expenses	623,029			(84,463		)	538,566

Income from operations	18,051			84,463			102,514


Other income (expenses)
Interest expense	(11,295		)	(93,219		)	(104,514		)
Interest income	467			—			467
Income from unconsolidated affiliates	2,483			—			2,483
Other	1,631			—			1,631

Total other expenses	(6,714		)	(93,219		)	(99,933		)


Income from operations before income taxes	11,337			(8,756		)	2,581
Income tax (benefit) provision	6,800			(4,799		)	2,001

Net income	$	4,537		$	(3,957	)	$	580


Earnings per common share:
Basic earnings per common share	$	0.05		$	(0.04	)	$	0.01
Diluted earnings per common share	$	0.05		$	(0.04	)	$	0.01

The following table presents the condensed consolidated statement of cash flow as previously reported, restatement adjustments and the condensed consolidated statement of cash flows as restated for the three months ended March 31, 2015:

	As Previously			Restatement
	Reported			Adjustments			As Restated

Three Months Ended March 31, 2015:
Operating activities
Net income	$	10,996		$	(9,127	)	$	1,869
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	42,922			20,447			63,369
Amortization of items charged to interest expense	1,505			—			1,505
Accretion of settlement value on other noncurrent liabilities	351			—			351
Loss on sale of fixed assets	153			—			153
Income from unconsolidated affiliates	(3,982		)	—			(3,982		)
Distributions of earnings from unconsolidated affiliates	8,000			—			8,000
Deferred income taxes	15,374			3,274			18,648
Charge for stock-based compensation	2,084			—			2,084
Decrease (increase)
Accounts receivable	727			—			727
Prepaid expenses and other current assets	(2,742		)	—			(2,742		)
Other assets	6,400			—			6,400
Increase (decrease)
Accounts payable	2,887			—			2,887
Accrued expenses	4,985			(54		)	4,931
Accrued interest	6,264			—			6,264
Accrued salaries and wages	(14,363		)	—			(14,363		)
Gaming, pari-mutuel, property and other taxes	3,630			124			3,754
Income taxes	(9,529		)	(2,209		)	(11,738		)
Other current and noncurrent liabilities	(11,620		)	(70		)	(11,690		)
Other noncurrent tax liabilities	1,519			90			1,609

Net cash provided by operating activities	65,561			12,475			78,036

Investing activities
Capital project expenditures, net of reimbursements	(36,929		)	—			(36,929		)
Capital maintenance expenditures	(11,860		)	—			(11,860		)
Advances to Jamul Tribe	(16,341		)	—			(16,341		)
Proceeds from sale of property and equipment	146			—			146
Investment in joint ventures	(328		)	—			(328		)

Net cash used in investing activities	(65,312		)	—			(65,312		)

Financing activities
Proceeds from exercise of options	2,743						2,743
Principal payments on financing obligation with GLPI	—			(12,475		)	(12,475		)
Proceeds from issuance of long-term debt, net of issuance costs	45,000			—			45,000
Principal payments on long-term debt	(21,886		)	—			(21,886		)
Proceeds from insurance financing	885			—			885
Payments on insurance financing	(4,314		)	—			(4,314		)
Tax benefit from stock options exercised	6,379			—			6,379

Net cash provided by (used in) financing activities	28,807			(12,475		)	16,332

Net increase (decrease) in cash and cash equivalents	29,056			—			29,056
Cash and cash equivalents at beginning of year	208,673			—			208,673

Cash and cash equivalents at end of year	$	237,729		$	—		$	237,729


Supplemental disclosure
Interest expense paid, net of amounts capitalized	$	4,036		$	96,143		$	100,179
Income taxes paid	$	226		$	—		$	226

	As Previously			Restatement
	Reported			Adjustments			As Restated

Three Months Ended March 31, 2014:
Operating activities
Net income	$	4,537		$	(3,957	)	$	580
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	47,366			22,819			70,185
Amortization of items charged to interest expense	1,507			—			1,507
Gain on sale of fixed assets	(49		)	—			(49		)
Income from unconsolidated affiliates	(2,483		)	—			(2,483		)
Distributions of earnings from unconsolidated affiliates	5,500			—			5,500
Deferred income taxes	1,803			(1,515		)	288
Charge for stock-based compensation	2,579			—			2,579
Decrease (increase)
Accounts receivable	(599		)	—			(599		)
Prepaid expenses and other current assets	(12,739		)	(365		)	(13,104		)
Other assets	(1,854		)	8,941			7,087
Increase (decrease)
Accounts payable	2,186			—			2,186
Accrued expenses	(11,384		)	(2,882		)	(14,266		)
Accrued interest	2,484			—			2,484
Accrued salaries and wages	(15,590		)	(40		)	(15,630		)
Gaming, pari-mutuel, property and other taxes	2,768			(27		)	2,741
Income taxes	(7,582		)	—			(7,582		)
Other current and noncurrent liabilities	669			138			807
Other noncurrent tax liabilities	4,489			(3,284		)	1,205

Net cash provided by operating activities	23,608			19,828			43,436

Investing activities
Capital project expenditures, net of reimbursements	(12,957		)	—			(12,957		)
Capital maintenance expenditures	(24,084		)	—			(24,084		)
Advances to Jamul Tribe	—			(8,573		)	(8,573		)
Proceeds from sale of property and equipment	129			—			129
Decrease in cash in escrow	18,000			—			18,000
Acquisition of gaming license	(25,586		)	—			(25,586		)

Net cash used in investing activities	(44,498		)	(8,573		)	(53,071		)

Financing activities
Proceeds from exercise of options	5,581			—			5,581
Principal payments on financing obligation with GLPI	—			(11,255		)	(11,255		)
Proceeds from issuance of long-term debt, net of issuance costs	(327		)	—			(327		)
Principal payments on long-term debt	(6,898		)	—			(6,898		)
Proceeds from insurance financing	14,335			—			14,335
Payments on insurance financing	(4,853		)	—			(4,853		)
Tax benefit from stock options exercised	7,752			—			7,752

Net cash provided by (used in) financing activities	15,590			(11,255		)	4,335

Net increase (decrease) in cash and cash equivalents	(5,300		)	—			(5,300		)
Cash and cash equivalents at beginning of year	292,995			—			292,995

Cash and cash equivalents at end of year	$	287,695		$	—		$	287,695


Supplemental disclosure
Interest expense paid, net of amounts capitalized	$	7,278		$	92,047		$	99,325
Income taxes paid	$	352		$	—		$	352