Summarized Quarterly Data (Unaudited)

12 Months Ended

Dec. 31, 2016

Summarized Quarterly Data (Unaudited)

16.Summarized Quarterly Data (Unaudited)

The following table summarizes the quarterly results of operations for the years ended December 31, 2016 and 2015:


	Fiscal Quarter
	First		Second		Third (1)		Fourth (2)
	(in thousands, except per share data)
2016
Net revenues	$	756,451	$	769,422	$	765,597	$	742,910
Income from operations		140,531		149,337		139,300		113,848
Net income		23,708		34,035		46,535		5,032
Earnings per common share:
Basic earnings per common share	$	0.26	$	0.38	$	0.52	$	0.06
Diluted earnings per common share	$	0.26	$	0.37	$	0.51	$	0.05

	Fiscal Quarter
	First		Second		Third (3)		Fourth
	(in thousands, except per share data)
2015
Net revenues	$	664,138	$	700,956	$	739,297	$	733,967
Income from operations		111,689		123,361		142,172		90,624
Net income (loss)		1,869		2,983		4,900		(9,066)
Earnings (loss) per common share:
Basic earnings (loss) per common share	$	0.02	$	0.03	$	0.06	$	(0.11)
Diluted earnings (loss) per common share	$	0.02	$	0.03	$	0.05	$	(0.11)

(1)

On August 1, 2016 the Company acquired Rocket Speed, Inc.

(2)

On October 3, 2016 and November 1, 2016 the Company acquired Slot Kings, LLC and Bell Gaming, LLC, respectively.

(3)

On August 25, 2015 and September 1, 2015 the Company acquired Tropicana Las Vegas and Prairie State Gaming, LLC, respectively.

During the fourth quarter of 2015, the Company recorded other intangible assets impairment charges of $40.0 million related to the write-off of its Plainridge Park Casino gaming license and a partial write-down of the gaming license at Hollywood Gaming at Dayton Raceway due to a reduction in the long term earnings forecast at both of these locations. In addition, the three months ended December 31, 2015 included favorable property tax settlements of approximately $16.8 million.