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v3.21.2

Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2021
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information | The following tables set forth, for the periods indicated, certain operating data for the Company’s segments, and reconciles net income (loss) to Adjusted EBITDA:
|  | Three Months Ended June 30, 2021
(In thousands) |  | Casinos |  | Distributed Gaming |  | Corporate and Other |  | Consolidated
Revenues |  |  |  |  |  |  |  |
Gaming |  | $ | 99,722 |  |  | $ | 105,235 |  |  | $ | — |  |  | $ | 204,957 |
Food and beverage |  | 31,150 |  |  | 13,788 |  |  | — |  |  | 44,938 |
Rooms |  | 30,249 |  |  | — |  |  | — |  |  | 30,249 |
Other |  | 9,653 |  |  | 2,380 |  |  | 290 |  |  | 12,323 |
Total revenues |  | $ | 170,774 |  |  | $ | 121,403 |  |  | $ | 290 |  |  | $ | 292,467 |
Net income |  | $ | 56,847 |  |  | $ | 19,428 |  |  | $ | 26,731 |  |  | $ | 103,006 |
Other non-operating income |  | — |  |  | — |  |  | (60,000) |  |  | (60,000) |
Depreciation and amortization |  | 21,151 |  |  | 4,897 |  |  | 634 |  |  | 26,682 |
Change in non-cash lease expense |  | 123 |  |  | 77 |  |  | 21 |  |  | 221 |
Share-based compensation |  | — |  |  | — |  |  | 2,668 |  |  | 2,668 |
Loss on disposal of assets |  | 179 |  |  | 431 |  |  | — |  |  | 610 |
Preopening and related expenses (1) |  | 4 |  |  | 16 |  |  | 89 |  |  | 109 |
Other, net |  | 65 |  |  | — |  |  | 696 |  |  | 761 |
Interest expense, net |  | 131 |  |  | 64 |  |  | 15,974 |  |  | 16,169 |
Income tax provision |  | — |  |  | — |  |  | 786 |  |  | 786 |
Adjusted EBITDA |  | $ | 78,500 |  |  | $ | 24,913 |  |  | $ | (12,401) |  |  | $ | 91,012 |
|  | Three Months Ended June 30, 2020
(In thousands) |  | Casinos |  | Distributed Gaming |  | Corporate and Other |  | Consolidated
Revenues |  |  |  |  |  |  |  |
Gaming |  | $ | 25,210 |  |  | $ | 31,467 |  |  | $ | — |  |  | $ | 56,677 |
Food and beverage |  | 6,016 |  |  | 4,152 |  |  | — |  |  | 10,168 |
Rooms |  | 5,987 |  |  | — |  |  | — |  |  | 5,987 |
Other |  | 2,219 |  |  | 720 |  |  | 203 |  |  | 3,142 |
Total revenues |  | $ | 39,432 |  |  | $ | 36,339 |  |  | $ | 203 |  |  | $ | 75,974 |
Net loss |  | $ | (45,979) |  |  | $ | (5,194) |  |  | $ | (27,393) |  |  | $ | (78,566) |
Depreciation and amortization |  | 25,344 |  |  | 5,902 |  |  | 684 |  |  | 31,930 |
Change in non-cash lease expense |  | 130 |  |  | 20 |  |  | 20 |  |  | 170 |
Impairment of goodwill and intangible assets |  | 21,411 |  |  | — |  |  | — |  |  | 21,411 |
Share-based compensation |  | — |  |  | — |  |  | 1,756 |  |  | 1,756 |
Loss (gain) on disposal of assets |  | 683 |  |  | 24 |  |  | (5) |  |  | 702 |
Preopening and related expenses (1) |  | — |  |  | (1) |  |  | 10 |  |  | 9 |
Severance expenses |  | 189 |  |  | 134 |  |  | 44 |  |  | 367 |
Other, net |  | 48 |  |  | 41 |  |  | 28 |  |  | 117 |
Interest expense, net |  | 91 |  |  | 10 |  |  | 16,306 |  |  | 16,407 |
Income tax provision |  | — |  |  | — |  |  | 206 |  |  | 206 |
Adjusted EBITDA |  | $ | 1,917 |  |  | $ | 936 |  |  | $ | (8,344) |  |  | $ | (5,491) |
(1) Preopening and related expenses consist of labor, food, utilities, training, initial licensing, rent and organizational costs incurred in connection with the opening of tavern and casino locations.
|  | Six Months Ended June 30, 2021
(In thousands) |  | Casinos |  | Distributed Gaming |  | Corporate and Other |  | Consolidated
Revenues |  |  |  |  |  |  |  |
Gaming |  | $ | 181,116 |  |  | $ | 200,841 |  |  | $ | — |  |  | $ | 381,957 |
Food and beverage |  | 53,070 |  |  | 25,672 |  |  | — |  |  | 78,742 |
Rooms |  | 48,647 |  |  | — |  |  | — |  |  | 48,647 |
Other |  | 17,391 |  |  | 4,799 |  |  | 627 |  |  | 22,817 |
Total revenues |  | $ | 300,224 |  |  | $ | 231,312 |  |  | $ | 627 |  |  | $ | 532,163 |
Net income (loss) |  | $ | 85,851 |  |  | $ | 34,438 |  |  | $ | (6,663) |  |  | $ | 113,626 |
Other non-operating income |  | — |  |  | — |  |  | (60,000) |  |  | (60,000) |
Depreciation and amortization |  | 42,497 |  |  | 10,111 |  |  | 1,260 |  |  | 53,868 |
Change in non-cash lease expense |  | 260 |  |  | 356 |  |  | 44 |  |  | 660 |
Share-based compensation |  | — |  |  | — |  |  | 5,673 |  |  | 5,673 |
Loss on disposal of assets |  | 159 |  |  | 660 |  |  | — |  |  | 819 |
Preopening and related expenses (1) |  | 4 |  |  | 16 |  |  | 209 |  |  | 229 |
Other, net |  | 521 |  |  | 74 |  |  | 2,334 |  |  | 2,929 |
Interest expense, net |  | 288 |  |  | 138 |  |  | 31,791 |  |  | 32,217 |
Income tax provision |  | — |  |  | — |  |  | 489 |  |  | 489 |
Adjusted EBITDA |  | $ | 129,580 |  |  | $ | 45,793 |  |  | $ | (24,863) |  |  | $ | 150,510 |
|  | Six Months Ended June 30, 2020
(In thousands) |  | Casinos |  | Distributed Gaming |  | Corporate and Other |  | Consolidated
Revenues |  |  |  |  |  |  |  |
Gaming |  | $ | 87,115 |  |  | $ | 96,777 |  |  | $ | — |  |  | $ | 183,892 |
Food and beverage |  | 35,821 |  |  | 15,894 |  |  | — |  |  | 51,715 |
Rooms |  | 31,592 |  |  | — |  |  | — |  |  | 31,592 |
Other |  | 12,874 |  |  | 2,652 |  |  | 406 |  |  | 15,932 |
Total revenues |  | $ | 167,402 |  |  | $ | 115,323 |  |  | $ | 406 |  |  | $ | 283,131 |
Net loss |  | $ | (48,917) |  |  | $ | (4,590) |  |  | $ | (57,679) |  |  | $ | (111,186) |
Depreciation and amortization |  | 50,057 |  |  | 11,767 |  |  | 1,262 |  |  | 63,086 |
Change in non-cash lease expense |  | 273 |  |  | 13 |  |  | 45 |  |  | 331 |
Impairment of goodwill and intangible assets |  | 27,872 |  |  | — |  |  | — |  |  | 27,872 |
Share-based compensation |  | — |  |  | — |  |  | 4,002 |  |  | 4,002 |
Loss (gain) on disposal of assets |  | 1,310 |  |  | (14) |  |  | (5) |  |  | 1,291 |
Preopening and related expenses (1) |  | 225 |  |  | (1) |  |  | 115 |  |  | 339 |
Severance expenses |  | 2,606 |  |  | 612 |  |  | 125 |  |  | 3,343 |
Other, net |  | 95 |  |  | 238 |  |  | 141 |  |  | 474 |
Interest expense, net |  | 336 |  |  | 25 |  |  | 34,792 |  |  | 35,153 |
Change in fair value of derivative |  | — |  |  | — |  |  | 1 |  |  | 1 |
Income tax provision |  | — |  |  | — |  |  | 258 |  |  | 258 |
Adjusted EBITDA |  | $ | 33,857 |  |  | $ | 8,050 |  |  | $ | (16,943) |  |  | $ | 24,964 |
(1)Preopening and related expenses consist of labor, food, utilities, training, initial licensing, rent and organizational costs incurred in connection with the opening of tavern and casino locations. Assets The Company’s assets by segment consisted of the following amounts:
(In thousands) | Casinos |  | Distributed Gaming |  | Corporate and Other |  | Consolidated
Balance at June 30, 2021 | $ | 1,062,040 |  |  | $ | 446,033 |  |  | $ | 156,629 |  |  | $ | 1,664,702 |
Balance at December 31, 2020 | $ | 1,085,510 |  |  | $ | 430,791 |  |  | $ | 54,648 |  |  | $ | 1,570,949 |

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
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