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Segment Information
 6 Months Ended
Jun. 30, 2021
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company conducts its business through two reportable operating segments: Casinos and Distributed Gaming. The Company’s Casinos segment involves the ownership and operation of resort casino properties in Nevada and Maryland. The Company’s Distributed Gaming segment involves the installation, maintenance and operation of slots and amusement devices in non-casino locations such as restaurants, bars, taverns, convenience stores, liquor stores and grocery stores in Nevada and Montana, and the operation of branded taverns targeting local patrons located primarily in the greater Las Vegas, Nevada metropolitan area. The Corporate and Other segment includes the Company’s cash and cash equivalents, miscellaneous receivables and corporate overhead. Costs recorded in the Corporate and Other segment have not been allocated to the Company’s reportable operating segments because these costs are not easily allocable and to do so would not be practical.
The Company evaluates each segment’s profitability based upon such segment’s Adjusted EBITDA, which represents each segment’s earnings before interest and other non-operating income (expense), income taxes, depreciation and amortization, impairment of goodwill and intangible assets, severance expenses, preopening and related expenses, gain or loss on disposal of assets, share-based compensation expenses, change in non-cash lease expense, change in fair value of derivative, and other non-cash charges, calculated before corporate overhead (which is not allocated to each segment).
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)CasinosDistributed GamingCorporate and OtherConsolidated
Revenues
Gaming$99,722 $105,235 $— $204,957 
Food and beverage31,150 13,788 — 44,938 
Rooms30,249 — — 30,249 
Other9,653 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 amortization21,151 4,897 634 26,682 
Change in non-cash lease expense123 77 21 221 
Share-based compensation— — 2,668 2,668 
Loss on disposal of assets179 431 — 610 
Preopening and related expenses (1)
4 16 89 109 
Other, net65 — 696 761 
Interest expense, net131 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)CasinosDistributed GamingCorporate and OtherConsolidated
Revenues
Gaming$25,210 $31,467 $— $56,677 
Food and beverage6,016 4,152 — 10,168 
Rooms5,987 — — 5,987 
Other2,219 720 203 3,142 
Total revenues$39,432 $36,339 $203 $75,974 
Net loss$(45,979)$(5,194)$(27,393)$(78,566)
Depreciation and amortization25,344 5,902 684 31,930 
Change in non-cash lease expense130 20 20 170 
Impairment of goodwill and intangible assets21,411 — — 21,411 
Share-based compensation— — 1,756 1,756 
Loss (gain) on disposal of assets683 24 (5)702 
Preopening and related expenses (1)
— (1)10 9 
Severance expenses189 134 44 367 
Other, net48 41 28 117 
Interest expense, net91 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)CasinosDistributed GamingCorporate and OtherConsolidated
Revenues
Gaming$181,116 $200,841 $— $381,957 
Food and beverage53,070 25,672 — 78,742 
Rooms48,647 — — 48,647 
Other17,391 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 amortization42,497 10,111 1,260 53,868 
Change in non-cash lease expense260 356 44 660 
Share-based compensation— — 5,673 5,673 
Loss on disposal of assets159 660 — 819 
Preopening and related expenses (1)
4 16 209 229 
Other, net521 74 2,334 2,929 
Interest expense, net288 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)CasinosDistributed GamingCorporate and OtherConsolidated
Revenues
Gaming$87,115 $96,777 $— $183,892 
Food and beverage35,821 15,894 — 51,715 
Rooms31,592 — — 31,592 
Other12,874 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 amortization50,057 11,767 1,262 63,086 
Change in non-cash lease expense273 13 45 331 
Impairment of goodwill and intangible assets27,872 — — 27,872 
Share-based compensation— — 4,002 4,002 
Loss (gain) on disposal of assets1,310 (14)(5)1,291 
Preopening and related expenses (1)
225 (1)115 339 
Severance expenses2,606 612 125 3,343 
Other, net95 238 141 474 
Interest expense, net336 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)CasinosDistributed GamingCorporate and OtherConsolidated
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