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Assets Held for Sale
 3 Months Ended
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 ResortDistributed GamingTotal
ASSETS
Current assets
Cash and cash equivalents$6,389 $39,340 $45,729 
Accounts receivables, net 1,929 2,900 4,829 
Prepaid expenses431 1,480 1,911 
Inventories642 3 645 
Other169 2,615 2,784 
Total current assets held for sale9,560 46,338 55,898 
Property and equipment, net23,877 28,087 51,964 
Operating lease right-of-use assets, net5,980 55,815 61,795 
Goodwill— 77,645 77,645 
Intangible assets, net1,064 38,506 39,570 
Other assets5 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 leases436 27,203 27,639 
Accounts payable1,291 992 2,283 
Accrued payroll and related1,092 1,231 2,323 
Other accrued liabilities2,413 5,353 7,766 
Total current liabilities related to assets held for sale5,336 34,779 40,115 
Non-current finance leases193 — 193 
Non-current operating leases5,206 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, 2023Three Months Ended March 31, 2022
(In thousands)Maryland Casino ResortDistributed GamingMaryland Casino ResortDistributed Gaming
Revenues$18,128 $90,401 $17,892 $90,768 
Pretax income5,117 7,543 4,488 8,364