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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2016

Fair Value Measurements

Schedule of carrying amount and estimated fair values of financial instruments

		December 31, 2016
		Carrying
		Amount			Fair Value			Level 1			Level 2			Level 3
Financial assets:
Cash and cash equivalents		$	229,510		$	229,510		$	229,510		$	—		$	—
Advances to Jamul Tribe			92,100			98,000			—			—			98,000
Financial liabilities:
Long-term debt
Senior secured credit facility			962,703			976,092			785,092			191,000			—
Senior unsecured notes			296,895			312,000			312,000			—			—
Other long-term obligations			154,084			152,132			—			152,132			—
Other liabilities			48,244			48,244			—			—			48,244

		December 31, 2015
		Carrying
		Amount			Fair Value			Level 1			Level 2			Level 3
Financial assets:
Cash and cash equivalents		$	237,009		$	237,009		$	237,009		$	—		$	—
Advances to Jamul Tribe			197,722			197,722			—			—			197,722
Financial liabilities:
Long-term debt
Senior secured credit facility			1,239,049			1,251,975			829,975			422,000			—
Senior unsecured notes			296,252			291,000			291,000			—			—
Other long-term obligations			146,992			147,358			—			147,358			—
Other liabilities			13,815			13,815			—			—			13,815

Summary of the changes in fair value of Level 3 liabilities

The following table summarizes the changes in fair value of the Company’s Level 3 liabilities (in thousands):

		Twelve Months Ended
		December 31, 2016 and 2015
		Liabilities
		Contingent
		Purchase Price
Balance at January 1, 2015		$	19,189
Included in earnings			(5,374)
Balance at December 31, 2015		$	13,815
Additions			34,945
Payments			(1,793)
Included in earnings			1,277
Balance at December 31, 2016		$	48,244

Summary of significant unobservable inputs used in calculating fair value Level 3 liabilities

		Valuation		Unobservable
		Technique		Input		Discount Rate			Volatility Rate
Contingent purchase price - Plainridge		Discounted cash flow		Discount rate		8.30	%		N/A	%
Contingent purchase price - Rocket Speed		Option pricing method		Discount rate, Volatility rate		11.50	%		87.32	%

Schedule of the assets measured at fair value on a nonrecurring basis

The following table sets forth the assets measured at fair value on a non-recurring basis during the year ended December 31, 2015 (in thousands):

																Total Reduction in
													Balance at			Fair Value
		Balance											December 31,			Recorded during
		Sheet											2015			the year ended
		Location		Level 1			Level 2			Level 3			Total			December 31, 2015,
Assets:
Intangible assets		Other intangible assets		$	—		$	—		$	110,436		$	110,436		$	(40,042)
																$	(40,042)

X

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

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Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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