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Segment Information (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2017
Segment Information |
Schedule of information with respect to the Company's segments |
Three months ended June 30, 2017 |  | Northeast |  | South/West |  | Midwest |  | Other (1) |  | Total |
Income (loss) from operations |  | $ | 108,119 |  | $ | 20,062 |  | $ | 59,283 |  | $ | (52,475) |  | $ | 134,989 |
Charge for stock compensation |  |  | — |  |  | — |  |  | — |  |  | 1,801 |  |  | 1,801 |
Depreciation and amortization |  |  | 21,525 |  |  | 9,353 |  |  | 9,508 |  |  | 28,583 |  |  | 68,969 |
Contingent purchase price |  |  | 277 |  |  | — |  |  | 16 |  |  | 1,069 |  |  | 1,362 |
(Gain) loss on disposal of assets |  |  | (45) |  |  | (1) |  |  | 88 |  |  | 10 |  |  | 52 |
Impairment losses on Loans to the Jamul Tribe |  |  | — |  |  | 5,635 |  |  | — |  |  | — |  |  | 5,635 |
Income (loss) from unconsolidated affiliates |  |  | — |  |  | — |  |  | 5,286 |  |  | (265) |  |  | 5,021 |
Non-operating items for Kansas JV |  |  | — |  |  | — |  |  | 1,309 |  |  | — |  |  | 1,309 |
Adjusted EBITDA |  | $ | 129,876 |  | $ | 35,049 |  | $ | 75,490 |  | $ | (21,277) |  | $ | 219,138 |
Three months ended June 30, 2016 |  | Northeast |  | South/West |  | Midwest |  | Other (1) |  | Total |
Income (loss) from operations |  | $ | 103,695 |  | $ | 27,622 |  | $ | 57,446 |  | $ | (39,426) |  | $ | 149,337 |
Charge for stock compensation |  |  | — |  |  | — |  |  | — |  |  | 1,582 |  |  | 1,582 |
Depreciation and amortization |  |  | 23,209 |  |  | 8,839 |  |  | 9,460 |  |  | 24,674 |  |  | 66,182 |
Contingent purchase price |  |  | 119 |  |  | — |  |  | — |  |  | — |  |  | 119 |
Loss on disposal of assets |  |  | (14) |  |  | 11 |  |  | (52) |  |  | 496 |  |  | 441 |
Income (loss) from unconsolidated affiliates |  |  | — |  |  | — |  |  | 3,744 |  |  | (196) |  |  | 3,548 |
Non-operating items for Kansas JV |  |  | — |  |  | — |  |  | 2,571 |  |  | — |  |  | 2,571 |
Adjusted EBITDA |  | $ | 127,009 |  | $ | 36,472 |  | $ | 73,169 |  | $ | (12,870) |  | $ | 223,780 |
Six months ended June 30, 2017 |  | Northeast |  | South/West |  | Midwest |  | Other (1) |  | Total |
Income (loss) from operations |  | $ | 210,752 |  | $ | 47,180 |  | $ | 120,813 |  | $ | (103,469) |  | $ | 275,276 |
Charge for stock compensation |  |  | — |  |  | — |  |  | — |  |  | 3,974 |  |  | 3,974 |
Depreciation and amortization |  |  | 44,548 |  |  | 18,570 |  |  | 19,179 |  |  | 56,908 |  |  | 139,205 |
Contingent purchase price |  |  | 1,182 |  |  | — |  |  | 25 |  |  | 2,715 |  |  | 3,922 |
(Gain) loss on disposal of assets |  |  | (31) |  |  | 5 |  |  | 29 |  |  | 4 |  |  | 7 |
Impairment losses on Loans to the Jamul Tribe |  |  | — |  |  | 5,635 |  |  | — |  |  | — |  |  | 5,635 |
Income (loss) from unconsolidated affiliates |  |  | — |  |  | — |  |  | 10,290 |  |  | (721) |  |  | 9,569 |
Non-operating items for Kansas JV |  |  | — |  |  | — |  |  | 3,260 |  |  | — |  |  | 3,260 |
Adjusted EBITDA |  | $ | 256,451 |  | $ | 71,390 |  | $ | 153,596 |  | $ | (40,589) |  | $ | 440,848 |
Six months ended June 30, 2016 |  | Northeast |  | South/West |  | Midwest |  | Other (1) |  | Total |
Income (loss) from operations |  | $ | 204,616 |  | $ | 53,607 |  | $ | 115,670 |  | $ | (84,025) |  | $ | 289,868 |
Charge for stock compensation |  |  | — |  |  | — |  |  | — |  |  | 3,037 |  |  | 3,037 |
Depreciation and amortization |  |  | 46,202 |  |  | 17,604 |  |  | 19,028 |  |  | 49,368 |  |  | 132,202 |
Contingent purchase price |  |  | (1,081) |  |  | — |  |  | — |  |  | — |  |  | (1,081) |
Loss on disposal of assets |  |  | 7 |  |  | (14) |  |  | (45) |  |  | (608) |  |  | (660) |
Income (loss) from unconsolidated affiliates |  |  | — |  |  | — |  |  | 8,462 |  |  | (305) |  |  | 8,157 |
Non-operating items for Kansas JV |  |  | — |  |  | — |  |  | 5,141 |  |  | — |  |  | 5,141 |
Adjusted EBITDA |  | $ | 249,744 |  | $ | 71,197 |  | $ | 148,256 |  | $ | (32,533) |  | $ | 436,664 |
|  |  | Northeast |  |  | South/West |  |  | Midwest |  |  | Other (1) |  |  | Total |
|  | (in thousands) |
Three months ended June 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net revenues |  | $ | 405,099 |  | $ | 153,151 |  | $ | 224,847 |  | $ | 13,366 |  | $ | 796,463 |
Capital expenditures |  |  | 5,533 |  |  | 11,924 |  |  | 7,345 |  |  | 1,002 |  |  | 25,804 |
Three months ended June 30, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net revenues |  | $ | 401,516 |  | $ | 140,108 |  | $ | 220,256 |  | $ | 7,542 |  | $ | 769,422 |
Capital expenditures |  |  | 8,268 |  |  | 6,726 |  |  | 6,348 |  |  | 823 |  |  | 22,165 |
Six months ended June 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net revenues |  | $ | 798,564 |  | $ | 292,970 |  | $ | 453,185 |  | $ | 27,968 |  | $ | 1,572,687 |
Capital expenditures |  |  | 9,523 |  |  | 20,546 |  |  | 11,676 |  |  | 1,215 |  |  | 42,960 |
Six months ended June 30, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net revenues |  | $ | 794,722 |  | $ | 276,076 |  | $ | 441,334 |  | $ | 13,741 |  | $ | 1,525,873 |
Capital expenditures |  |  | 15,387 |  |  | 14,311 |  |  | 12,330 |  |  | 1,506 |  |  | 43,534 |
Balance sheet at June 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total assets |  | $ | 808,144 |  | $ | 876,910 |  | $ | 1,081,316 |  | $ | 2,217,649 |  | $ | 4,984,019 |
Investment in and advances to unconsolidated affiliates |  |  | 76 |  |  | — |  |  | 91,058 |  |  | 61,779 |  |  | 152,913 |
Goodwill and other intangible assets, net |  |  | 324,285 |  |  | 260,978 |  |  | 778,056 |  |  | 92,900 |  |  | 1,456,219 |
Balance sheet at December 31, 2016 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total assets |  | $ | 861,951 |  | $ | 840,076 |  | $ | 1,103,231 |  | $ | 2,169,226 |  | $ | 4,974,484 |
Investment in and advances to unconsolidated affiliates |  |  | 76 |  |  | — |  |  | 93,768 |  |  | 62,332 |  |  | 156,176 |
Goodwill and other intangible assets, net |  |  | 324,285 |  |  | 224,719 |  |  | 775,377 |  |  | 100,798 |  |  | 1,425,179 |
(1) Includes depreciation expense associated with the real property assets under the Master Lease with GLPI. In addition, total assets include these assets. The interest expense associated with the financing obligation is reflected in the other category. Net revenues and income (loss) from unconsolidated affiliates relate to the Company’s stand-alone racing operations, namely Rosecroft Raceway, which was sold on July 31, 2016, Sanford Orlando Kennel Club and the Company’s Texas and New Jersey joint ventures, which do not have gaming operations. Other also includes Penn Interactive Ventures, which is a wholly-owned subsidiary that is pursuing our interactive gaming strategy and our recent acquisition of Rocket Speed.

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8736-108599 + Details
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