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Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2018
Fair Value Disclosures [Abstract] |
Schedule of carrying amounts and estimated fair values by input level | The carrying amounts and estimated fair values by input level of the Company’s financial instruments were as follows:
| December 31, 2018
(in thousands) | Carrying Amount |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Financial assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 479,598 |  |  | $ | 479,598 |  |  | $ | 479,598 |  |  | $ | — |  |  | $ | — |
Held-to-maturity securities | $ | 7,466 |  |  | $ | 7,879 |  |  | $ | — |  |  | $ | 7,879 |  |  | $ | — |
Promissory notes | $ | 16,853 |  |  | $ | 17,415 |  |  | $ | — |  |  | $ | 17,415 |  |  | $ | — |
Financial liabilities: |  |  |  |  |  |  |  |  |
Long-term debt |  |  |  |  |  |  |  |  |
Senior Secured Credit Facilities | $ | 1,907,932 |  |  | $ | 1,886,333 |  |  | $ | 1,886,333 |  |  | $ | — |  |  | $ | — |
5.625% Notes | $ | 399,332 |  |  | $ | 360,000 |  |  | $ | 360,000 |  |  | $ | — |  |  | $ | — |
Other long-term obligations | $ | 104,583 |  |  | $ | 96,338 |  |  | $ | — |  |  | $ | 96,338 |  |  | $ | — |
Other liabilities | $ | 21,863 |  |  | $ | 21,857 |  |  | $ | — |  |  | $ | 2,815 |  |  | $ | 19,042 |
| December 31, 2017
(in thousands) | Carrying Amount |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Financial assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 277,953 |  |  | $ | 277,953 |  |  | $ | 277,953 |  |  | $ | — |  |  | $ | — |
Loan to the JIVDC | $ | 20,900 |  |  | $ | 16,533 |  |  | $ | — |  |  | $ | — |  |  | $ | 16,533 |
Financial liabilities: |  |  |  |  |  |  |  |  |
Long-term debt |  |  |  |  |  |  |  |  |
Senior Secured Credit Facilities | $ | 730,787 |  |  | $ | 760,456 |  |  | $ | 760,456 |  |  | $ | — |  |  | $ | — |
5.625% Notes | $ | 399,249 |  |  | $ | 412,000 |  |  | $ | 412,000 |  |  | $ | — |  |  | $ | — |
Other long-term obligations | $ | 119,310 |  |  | $ | 113,460 |  |  | $ | — |  |  | $ | 113,460 |  |  | $ | — |
Other liabilities | $ | 22,696 |  |  | $ | 22,696 |  |  | $ | — |  |  | $ | — |  |  | $ | 22,696 |
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 measured on a recurring basis:
| Other Liabilities
(in thousands) | Contingent Purchase Price
Balance at January 1, 2016 | $ | 13,815 |
Additions | 34,945 |
Payments | (1,793 | )
Included in earnings (1) | 1,277 |
Balance at December 31, 2016 | 48,244 |
Additions | 905 |
Payments | (19,613 | )
Included in earnings (1) | (6,840 | )
Balance at December 31, 2017 | 22,696 |
Payments | (4,108 | )
Included in earnings (1) | 454 |
Balance at December 31, 2018 | $ | 19,042 |
(1) The charge (benefit) is included within “General and administrative” within our Consolidated Statement of Operations.
Schedule of the assets measured at fair value on a non-recurring basis | The following table sets forth the assets measured at fair value on a non-recurring basis during the years ended December 31, 2018 and 2017:
(in thousands) | Valuation Date |  | Valuation Technique |  | Level 1 |  | Level 2 |  | Level 3 |  | Total Balance |  | Total Reduction in Fair Value Recorded
Goodwill (1) | 9/30/2017 |  | Discounted Cash Flow |  | $ | — |  |  | $ | — |  |  | $ | 598 |  |  | $ | 598 |  |  | $ | (18,026 | )
Property and equipment (2) | 12/31/2018 |  | Cost and Market Approach |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (34,288 | )
(1) | See Note 3, “Summary of Significant Accounting Policies” for a description of the inputs and the information used to develop the inputs in calculating the fair value measurements of goodwill and indefinite-lived intangible assets.
(2) The fair value, which was concluded to be zero, of our property and equipment associated with Resorts Casino Tunica was determined using Level 2 inputs. See Note 7, “Property and Equipment” for more information.
Summary of significant unobservable inputs used in calculating Level 3 assets and liabilities | The following table summarizes the significant unobservable inputs used in calculating fair value for our Level 3 liabilities as of December 31, 2018:
| Valuation Technique |  | Unobservable Input |  | Discount Rate
Recurring basis: |  |  |  |  |
Contingent purchase price - Plainridge Park Casino | Discounted cash flow |  | Discount rate |  | 7.53%

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- 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). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 + Details
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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19279-110258 + Details
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