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Segment Information (Tables)
 12 Months Ended
Dec. 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:
Year Ended December 31,
(In thousands)202320222021
Revenues
Nevada Casino Resorts
Gaming$160,371 $175,014 $179,793 
Food and beverage98,748 89,424 83,092 
Rooms109,996 104,375 94,952 
Other (1)
43,943 38,137 31,875 
Nevada Casino Resorts revenues$413,058 $406,950 $389,712 
Nevada Locals Casinos
Gaming$112,772 $114,388 $120,537 
Food and beverage26,372 25,219 24,036 
Rooms10,331 10,162 7,626 
Other (1)
7,960 7,745 7,656 
Nevada Locals Casinos revenues$157,435 $157,514 $159,855 
Maryland Casino Resort (2)
Gaming$33,159 $59,553 $60,797 
Food and beverage4,881 8,440 7,932 
Rooms4,322 7,787 7,224 
Other1,094 2,230 2,202 
Maryland Casino Resort revenues$43,456 $78,010 $78,155 
Nevada Taverns
Gaming$52,817 $53,619 $53,909 
Food and beverage51,642 51,564 52,002 
Other (1)
4,756 4,782 4,259 
Nevada Taverns revenues$109,215 $109,965 $110,170 
Distributed Gaming (3)
Gaming$315,182 $358,332 $351,274 
Food and beverage765 716 753 
Other (1)
4,733 6,424 5,387 
Distributed Gaming revenues$320,680 $365,472 $357,414 
Corporate and other9,305 3,808 1,237 
Total Revenues$1,053,149 $1,121,719 $1,096,543 
(1) Includes lease revenue accounted for under ASC 842 for the arrangements in which the Company is a lessor. Refer to “Note 2 — Summary of Significant Accounting Policies” and “Note 12 — Leases” for details.
(2) Comprised of the operations of Rocky Gap, which was sold on July 25, 2023.
(3) Comprised of distributed gaming operations in Nevada and Montana. On September 13, 2023, the Company completed the sale of its distributed gaming operations in Montana and on January 10, 2024, the Company completed the sale of its distributed gaming operations in Nevada. Refer to “Note 3 — Divestitures and Assets Held for Sale” and “Note 16 —Subsequent Events” for additional information.
Year Ended December 31,
(In thousands)202320222021
Adjusted EBITDA
Nevada Casino Resorts$120,256 $135,104 $149,077 
Nevada Locals Casinos73,846 75,848 80,005 
Maryland Casino Resort (1)
12,652 25,383 26,697 
Nevada Taverns32,682 37,610 39,762 
Distributed Gaming (2)
34,545 44,021 47,514 
Corporate and other(51,459)(50,886)(51,337)
Total Adjusted EBITDA222,522 267,080 291,718 
Adjustments
Other non-operating income— — 60,000 
Depreciation and amortization(88,933)(100,123)(106,692)
Non-cash lease expense15 (165)(762)
Share-based compensation(13,476)(13,433)(14,401)
Gain (loss) on disposal of assets228 (934)(1,260)
Gain on sale of businesses303,179 — — 
Loss on debt extinguishment and modification(1,734)(1,590)(975)
Preopening and related expenses (3)
(760)(161)(246)
Severance expenses(149)(378)(228)
Impairment of assets(12,072)— — 
Other, net(11,342)(3,939)(2,089)
Interest expense, net(65,515)(63,490)(62,853)
Income tax provision(76,207)(521)(436)
Net income$255,756 $82,346 $161,776 
(1) Comprised of the operations of Rocky Gap, which was sold on July 25, 2023.
(2) Comprised of distributed gaming operations in Nevada and Montana. On September 13, 2023, the Company completed the sale of its distributed gaming operations in Montana and on January 10, 2024, the Company completed the sale of its distributed gaming operations in Nevada. Refer to “Note 3 — Divestitures and Assets Held for Sale” and “Note 16 — Subsequent Events” for additional information.
(3) Preopening and related expenses consist of labor, food, utilities, training, initial licensing, rent and organizational costs incurred in connection with the opening of branded taverns and food and beverage and other venues within the casino locations.
Assets
The Company’s assets by segment consisted of the following amounts:
(In thousands)Nevada Casino ResortsNevada Locals CasinosMaryland Casino ResortNevada TavernsDistributed GamingCorporate and OtherConsolidated
Balance at December 31, 2023$758,622 $160,059 $— $148,250 $204,271 $181,081 $1,452,283 
Balance at December 31, 2022$784,242 $164,580 $39,562 $145,065 $258,260 $116,961 $1,508,670 
Capital Expenditures
The Company’s capital expenditures by segment consisted of the following amounts:
(In thousands)
Nevada Casino Resorts (1)
Nevada Locals Casinos (2)
Maryland Casino Resort
Nevada Taverns (3)
Distributed Gaming (4)
Corporate and Other (5)
Consolidated
For the year ended December 31, 2023$60,441 $5,691 $435 $3,369 $9,537 $6,404 $85,877 
For the year ended December 31, 2022$26,347 $4,035 $1,878 $2,712 $9,146 $7,301 $51,419 
For the year ended December 31, 2021$7,859 $2,813 $1,447 $1,573 $9,912 $5,655 $29,259 
(1)Capital expenditures in the Nevada Casino Resorts segment exclude non-cash purchases of property and equipment of $1.0 million, $5.0 million, and $0.6 million as of December 31, 2023, 2022, and 2021, respectively.
(2)Capital expenditures in the Nevada Locals Casinos segment exclude non-cash purchases of property and equipment of $0.1 million and $0.2 million as of December 31, 2022 and 2021, respectively.
(3)Capital expenditures in the Nevada Taverns segment exclude non-cash purchases of property and equipment of $0.7 million, $0.2 million, and $0.3 million as of December 31, 2023, 2022 and 2021, respectively.
(4)Capital expenditures in the Distributed Gaming segment exclude non-cash purchases of property and equipment of $0.2 million and $0.3 million as of December 31, 2023 and 2021, respectively.
(5)Capital expenditures for Corporate and Other exclude non-cash purchases of property and equipment of $0.3 million, $0.1 million and $0.5 million as of December 31, 2023, 2022 and 2021, respectively.