XML 37 R27.htm IDEA: XBRL DOCUMENT
v3.21.2

Segment Information (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2021
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information |
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(In thousands) |  | 2021 |  | 2020 |  | 2021 |  | 2020
Revenues |  |  |  |  |  |  |  |
Casinos |  |  |  |  |  |  |  |
Gaming |  | $ | 91,155 |  |  | $ | 83,549 |  |  | $ | 272,271 |  |  | $ | 170,664 |
Food and beverage |  | 30,844 |  |  | 22,067 |  |  | 83,914 |  |  | 57,888 |
Rooms |  | 31,566 |  |  | 22,505 |  |  | 80,213 |  |  | 54,097 |
Other |  | 10,560 |  |  | 7,193 |  |  | 27,951 |  |  | 20,067 |
Casinos revenues |  | 164,125 |  |  | 135,314 |  |  | 464,349 |  |  | 302,716 |
Distributed Gaming |  |  |  |  |  |  |  |
Gaming |  | 102,012 |  |  | 61,972 |  |  | 302,853 |  |  | 158,749 |
Food and beverage |  | 13,427 |  |  | 6,618 |  |  | 39,099 |  |  | 22,512 |
Other |  | 2,496 |  |  | 1,313 |  |  | 7,295 |  |  | 3,965 |
Distributed Gaming revenues |  | 117,935 |  |  | 69,903 |  |  | 349,247 |  |  | 185,226 |
Corporate and Other |  | 362 |  |  | 179 |  |  | 989 |  |  | 585 |
Total revenues |  | $ | 282,422 |  |  | $ | 205,396 |  |  | $ | 814,585 |  |  | $ | 488,527 |
Net income (loss) |  | $ | 29,051 |  |  | $ | (6,956) |  |  | $ | 142,677 |  |  | $ | (118,142) |
Adjustments |  |  |  |  |  |  |  |
Other non-operating income |  | — |  |  | — |  |  | (60,000) |  |  | — |
Depreciation and amortization |  | 26,474 |  |  | 31,551 |  |  | 80,342 |  |  | 94,637 |
Change in non-cash lease expense |  | (143) |  |  | 425 |  |  | 517 |  |  | 756 |
Share-based compensation |  | 3,089 |  |  | 3,520 |  |  | 8,762 |  |  | 7,522 |
(Gain) loss on disposal of assets |  | (72) |  |  | (474) |  |  | 747 |  |  | 817 |
Loss on debt extinguishment and modification |  | 759 |  |  | — |  |  | 759 |  |  | — |
Preopening and related expenses (1) |  | 3 |  |  | 73 |  |  | 232 |  |  | 412 |
Severance expenses |  | 193 |  |  | 24 |  |  | 193 |  |  | 3,367 |
Impairment of goodwill and intangible assets |  | — |  |  | — |  |  | — |  |  | 27,872 |
Other, net |  | (1,338) |  |  | 1,286 |  |  | 1,591 |  |  | 1,760 |
Interest expense, net |  | 15,535 |  |  | 16,422 |  |  | 47,752 |  |  | 51,575 |
Change in fair value of derivative |  | — |  |  | — |  |  | — |  |  | 1 |
Income tax (benefit) provision |  | (123) |  |  | (17) |  |  | 366 |  |  | 241 |
Total Adjusted EBITDA |  | $ | 73,428 |  |  | $ | 45,854 |  |  | $ | 223,938 |  |  | $ | 70,818 |
Adjusted EBITDA |  |  |  |  |  |  |  |
Casinos |  | $ | 64,968 |  |  | $ | 50,759 |  |  | $ | 194,548 |  |  | $ | 84,615 |
Distributed Gaming |  | 21,158 |  |  | 4,867 |  |  | 66,951 |  |  | 12,917 |
Reportable segment Adjusted EBITDA |  | 86,126 |  |  | 55,626 |  |  | 261,499 |  |  | 97,532 |
Corporate and Other |  | (12,698) |  |  | (9,772) |  |  | (37,561) |  |  | (26,714) |
Total Adjusted EBITDA |  | $ | 73,428 |  |  | $ | 45,854 |  |  | $ | 223,938 |  |  | $ | 70,818 |
(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. The Company’s assets by segment consisted of the following amounts:
(In thousands) | Casinos |  | Distributed Gaming |  | Corporate and Other |  | Consolidated
Balance at September 30, 2021 | $ | 1,043,222 |  |  | $ | 417,704 |  |  | $ | 183,341 |  |  | $ | 1,644,267 |
Balance at December 31, 2020 | $ | 1,085,510 |  |  | $ | 430,791 |  |  | $ | 54,648 |  |  | $ | 1,570,949 |

X
- 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
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration