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Segment Information (Tables)

9 Months Ended

Sep. 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 September 30,												Nine Months Ended September 30,
(In thousands)						2022						2021						2022						2021
Revenues
Nevada Casino Resorts
Gaming						$	42,812					$	46,216					$	133,156					$	135,060
Food and beverage						21,537						22,449						66,044						60,129
Rooms						26,068						27,643						76,670						69,436
Other						8,439						8,072						26,919						20,567
Nevada Casino Resorts revenues						$	98,856					$	104,380					$	302,789					$	285,192
Nevada Locals Casinos
Gaming						$	27,457					$	28,437					$	85,886					$	91,226
Food and beverage						6,208						6,081						18,688						17,918
Rooms						2,325						1,858						7,098						5,419
Other						1,745						1,729						5,737						5,614
Nevada Locals Casinos revenues						$	37,735					$	38,105					$	117,409					$	120,177
Maryland Casino Resort
Gaming						$	16,027					$	16,502					$	45,940					$	45,985
Food and beverage						2,463						2,314						6,333						5,867
Rooms						2,372						2,065						5,917						5,358
Other						762						759						1,872						1,770
Maryland Casino Resort revenues						$	21,624					$	21,640					$	60,062					$	58,980
Distributed Gaming
Gaming						$	102,124					$	102,012					$	310,904					$	302,853
Food and beverage						12,827						13,427						38,877						39,099
Other						2,695						2,496						8,456						7,295
Distributed gaming revenues						$	117,646					$	117,935					$	358,237					$	349,247
Corporate and other						3,132						362						3,512						989
Total revenues						$	278,993					$	282,422					$	842,009					$	814,585

						Three Months Ended September 30,												Nine Months Ended September 30,
(In thousands)						2022						2021						2022						2021
Adjusted EBITDA
Nevada Casino Resorts						$	30,122					$	39,196					$	102,589					$	112,486
Nevada Locals Casinos						16,818						18,103						56,651						61,230
Maryland Casino Resort						7,446						7,669						20,260						20,831
Distributed Gaming						18,845						21,158						63,092						66,952
Corporate and other						(12,176)						(12,698)						(39,196)						(37,561)
Total Adjusted EBITDA						61,055						73,428						203,396						223,938
Adjustments
Other non-operating income						—						—						—						60,000
Depreciation and amortization						(24,286)						(26,474)						(75,894)						(80,342)
Change in non-cash lease expense						298						143						(113)						(517)
Share-based compensation						(3,286)						(3,089)						(10,269)						(8,762)
(Loss) gain on disposal of assets						(266)						72						(935)						(747)
Loss on debt extinguishment						(158)						(759)						(1,412)						(759)
Preopening and related expenses (1)						(2)						(3)						(61)						(232)
Other, net						1,539						1,145						(3,595)						(1,784)
Interest expense, net						(15,709)						(15,535)						(45,565)						(47,752)
Income tax (provision) benefit						(5,182)						123						5,737						(366)
Net Income						$	14,003					$	29,051					$	71,289					$	142,677

(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 September 30, 2022			$	783,693					$	163,863					$	41,210					$	408,156					$	150,751					$	1,547,673
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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