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Segment Information (Tables)

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

Due to the Company’s use of Adjusted EBITDA as its measure of profit for its reportable segments, the Company includes a reconciliation of the total of the Company’s consolidated Adjusted EBITDA to the Company’s consolidated net income determined in accordance with GAAP. The Company also discloses Adjusted EBITDA at the reportable segment level, as set forth in the table below:

						Three Months Ended June 30,												Six Months Ended June 30,
(In thousands)						2022						2021						2022						2021
Revenues
Nevada Casino Resorts
Gaming						$	46,114					$	50,018					$	90,344					$	88,844
Food and beverage						23,123						22,716						44,507						37,681
Rooms						28,573						26,164						50,602						41,792
Other						9,688						7,109						18,480						12,495
Nevada Casino Resorts revenues						$	107,498					$	106,007					$	203,933					$	180,812
Nevada Locals Casinos
Gaming						$	29,048					$	33,253					$	58,429					$	62,789
Food and beverage						6,301						6,323						12,480						11,836
Rooms						2,529						2,084						4,773						3,562
Other						1,907						1,867						3,992						3,885
Nevada Locals Casinos revenues						$	39,785					$	43,527					$	79,674					$	82,072
Maryland Casino Resort
Gaming						$	15,456					$	16,451					$	29,913					$	29,483
Food and beverage						2,222						2,111						3,870						3,553
Rooms						2,072						2,001						3,545						3,293
Other						796						677						1,110						1,011
Maryland Casino Resort revenues						$	20,546					$	21,240					$	38,438					$	37,340
Distributed Gaming
Gaming						$	106,061					$	105,235					$	208,780					$	200,841
Food and beverage						12,805						13,788						26,050						25,672
Other						2,503						2,380						5,761						4,799
Distributed gaming revenues						$	121,369					$	121,403					$	240,591					$	231,312
Corporate and other						174						290						380						627
Total revenues						$	289,372					$	292,467					$	563,016					$	532,163

						Three Months Ended June 30,												Six Months Ended June 30,
(In thousands)						2022						2021						2022						2021
Adjusted EBITDA
Nevada Casino Resorts						$	38,892					$	46,635					$	72,467					$	73,291
Nevada Locals Casinos						19,795						23,576						39,833						43,127
Maryland Casino Resort						7,242						8,289						12,814						13,162
Distributed Gaming						22,194						24,913						44,247						45,793
Corporate and other						(13,107)						(12,401)						(27,020)						(24,863)
Total Adjusted EBITDA						75,016						91,012						142,341						150,510
Adjustments
Other non-operating income						—						60,000						—						60,000
Depreciation and amortization						(25,332)						(26,682)						(51,608)						(53,868)
Change in non-cash lease expense						(230)						(221)						(411)						(660)
Share-based compensation						(3,311)						(2,668)						(6,983)						(5,673)
Loss on disposal of assets						(710)						(610)						(669)						(819)
Loss on debt extinguishment						(1,073)						—						(1,254)						—
Preopening and related expenses (1)						(4)						(109)						(59)						(229)
Other, net						(838)						(761)						(5,134)						(2,929)
Interest expense, net						(14,738)						(16,169)						(29,856)						(32,217)
Income tax (expense) benefit						(7,560)						(786)						10,919						(489)
Net Income						$	21,220					$	103,006					$	57,286					$	113,626

(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 reportable segment consisted of the following amounts:

(In thousands)			Nevada Casino Resorts						Nevada Locals Casinos						Maryland Casino Resort						Distributed Gaming						Corporate and Other						Consolidated
Balance at June 30, 2022			$	791,927					$	160,664					$	40,988					$	407,644					$	145,626					$	1,546,849
Balance at December 31, 2021			$	811,016					$	165,362					$	41,403					$	411,342					$	186,441					$	1,615,564

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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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://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 https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

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- References

No definition available.

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