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Assets Held for Sale | 3 Months Ended
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Mar. 31, 2023
Discontinued Operations and Disposal Groups [Abstract] |
Assets Held for Sale | Assets Held for Sale The Company classifies assets as held for sale when a sale is probable, is expected to be completed within one year, and the asset group meets all of the accounting criteria to be classified as held for sale. As discussed in “Note 1 — Nature of Business and Basis of Presentation,” on August 24, 2022, the Company entered into definitive agreements to sell Rocky Gap. The Rocky Gap Transactions are expected to close in the second quarter of 2023, subject to satisfaction or waiver of customary regulatory approvals and closing conditions. As a result, the assets related to the Rocky Gap property were classified as held for sale as of September 30, 2022 and the Company ceased recording depreciation and amortization of the long-lived assets included in the sale from the date of execution of the definitive agreements. Operations of Rocky Gap have historically been presented in the Company’s Maryland Casino Resort reportable segment. As discussed in “Note 1 — Nature of Business and Basis of Presentation,” on March 3, 2023, the Company entered into definitive agreements to sell its Distributed Gaming Operations. The Distributed Gaming Transactions are expected to close during the fourth quarter of 2023, subject to satisfaction or waiver of customary regulatory approvals and closing conditions. As a result, the assets related to the Distributed Gaming Operations were classified as held for sale as of March 31, 2023 and the Company ceased recording depreciation and amortization of the long-lived assets included in the sale from the date of execution of the definitive agreements. Distributed Gaming Operations have historically been presented in the Company’s Distributed Gaming reportable segment. The carrying amounts of the assets and liabilities held for sale in the Rocky Gap Transactions and Distributed Gaming Transactions consisted of the following:
| March 31, 2023
(In thousands) | Maryland Casino Resort |  | Distributed Gaming |  | Total
ASSETS |  |  |  |  |
Current assets |  |  |  |  |
Cash and cash equivalents | $ | 6,389 |  |  | $ | 39,340 |  |  | $ | 45,729 |
Accounts receivables, net | 1,929 |  |  | 2,900 |  |  | 4,829 |
Prepaid expenses | 431 |  |  | 1,480 |  |  | 1,911 |
Inventories | 642 |  |  | 3 |  |  | 645 |
Other | 169 |  |  | 2,615 |  |  | 2,784 |
Total current assets held for sale | 9,560 |  |  | 46,338 |  |  | 55,898 |
Property and equipment, net | 23,877 |  |  | 28,087 |  |  | 51,964 |
Operating lease right-of-use assets, net | 5,980 |  |  | 55,815 |  |  | 61,795 |
Goodwill | — |  |  | 77,645 |  |  | 77,645 |
Intangible assets, net | 1,064 |  |  | 38,506 |  |  | 39,570 |
Other assets | 5 |  |  | 6,488 |  |  | 6,493 |
Total assets held for sale | $ | 40,486 |  |  | $ | 252,879 |  |  | $ | 293,365 |
LIABILITIES |  |  |  |  |
Current liabilities |  |  |  |  |
Current portion of finance leases | $ | 104 |  |  | $ | — |  |  | $ | 104 |
Current portion of operating leases | 436 |  |  | 27,203 |  |  | 27,639 |
Accounts payable | 1,291 |  |  | 992 |  |  | 2,283 |
Accrued payroll and related | 1,092 |  |  | 1,231 |  |  | 2,323 |
Other accrued liabilities | 2,413 |  |  | 5,353 |  |  | 7,766 |
Total current liabilities related to assets held for sale | 5,336 |  |  | 34,779 |  |  | 40,115 |
Non-current finance leases | 193 |  |  | — |  |  | 193 |
Non-current operating leases | 5,206 |  |  | 28,892 |  |  | 34,098 |
Other long-term obligations | — |  |  | 66 |  |  | 66 |
Total liabilities related to assets held for sale | $ | 10,735 |  |  | $ | 63,737 |  |  | $ | 74,472 |
Revenues and pretax income generated by the assets held for sale were as follows:
| Three Months Ended March 31, 2023 |  | Three Months Ended March 31, 2022
(In thousands) | Maryland Casino Resort |  | Distributed Gaming |  | Maryland Casino Resort |  | Distributed Gaming
Revenues | $ | 18,128 |  |  | $ | 90,401 |  |  | $ | 17,892 |  |  | $ | 90,768 |
Pretax income | 5,117 |  |  | 7,543 |  |  | 4,488 |  |  | 8,364 |

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- References No definition available. + Details
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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI https://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=2122178 + Details
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