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Segment Information (Tables)

3 Months Ended

Mar. 31, 2023

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 March 31,
(In thousands)						2023						2022
Revenues
Nevada Casino Resorts
Gaming						$	42,293					$	44,230
Food and beverage						24,231						21,384
Rooms						26,210						22,029
Other						7,442						8,792
Nevada Casino Resorts revenues						$	100,176					$	96,435
Nevada Locals Casinos
Gaming						$	29,649					$	29,381
Food and beverage						6,691						6,179
Rooms						2,822						2,244
Other						2,076						2,085
Nevada Locals Casinos revenues						$	41,238					$	39,889
Maryland Casino Resort
Gaming						$	14,514					$	14,457
Food and beverage						1,866						1,648
Rooms						1,545						1,473
Other						203						314
Maryland Casino Resort revenues						$	18,128					$	17,892
Nevada Taverns
Gaming						$	13,025					$	14,322
Food and beverage						13,305						13,053
Other						1,263						1,079
Nevada Taverns revenue						$	27,593					$	28,454
Distributed Gaming
Gaming						$	88,606					$	88,397
Food and beverage						178						192
Other						1,617						2,179
Distributed Gaming revenues						$	90,401					$	90,768
Corporate and other						515						206
Total revenues						$	278,051					$	273,644

						Three Months Ended March 31,
(In thousands)						2023						2022
Adjusted EBITDA
Nevada Casino Resorts						$	31,711					$	33,575
Nevada Locals Casinos						20,160						20,038
Maryland Casino Resort						5,128						5,572
Nevada Taverns						8,538						10,778
Distributed Gaming						9,784						11,275
Corporate and other						(13,154)						(13,913)
Total Adjusted EBITDA						62,167						67,325
Adjustments
Depreciation and amortization						(23,508)						(26,276)
Non-cash lease expense						(33)						(181)
Share-based compensation						(3,893)						(3,672)
Gain on disposal of assets						86						41
Loss on debt extinguishment						—						(181)
Preopening and related expenses (1)						(384)						(55)
Other, net						(1,785)						(4,296)
Interest expense, net						(18,236)						(15,118)
Income tax (provision) benefit						(2,784)						18,479
Net Income						$	11,630					$	36,066

(1) Preopening and related expenses consist of labor, food, utilities, training, initial licensing, rent and organizational costs incurred in connection with the opening of branded tavern and casino locations as well as food and beverage and other venues within the casino locations.

Assets

The Company’s assets by reportable segment consisted of the following amounts:

(In thousands)			Nevada Casino Resorts						Nevada Locals Casinos						Maryland Casino Resort						Nevada Taverns						Distributed Gaming						Corporate and Other						Consolidated
Balance at March 31, 2023			$	782,939					$	160,393					$	40,486					$	137,853					$	252,879					$	125,334					$	1,499,884
Balance at December 31, 2022			$	784,242					$	164,580					$	39,562					$	145,065					$	258,260					$	116,961					$	1,508,670

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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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