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SEGMENT REPORTING (Tables) | 6 Months Ended
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Jun. 30, 2022
Segment Reporting [Abstract] |
Schedule of Reportable Segment Information | The following tables set forth certain operating data for the Company’s three reportable segments. The Other category is included in the following tables in order to reconcile the segment information to the Company’s condensed consolidated financial statements.
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) | 2022 |  | 2021 |  | 2022 |  | 2021
Revenue |  |  |  |  |  |  |
Casinos & Resorts | $ | 299,875 |  |  | $ | 262,188 |  |  | $ | 579,845 |  |  | $ | 451,621 |
North America Interactive | 18,050 |  |  | 5,545 |  |  | 33,277 |  |  | 8,378 |
International Interactive | 234,571 |  |  | — |  |  | 487,645 |  |  | — |
Total | $ | 552,496 |  |  | $ | 267,733 |  |  | $ | 1,100,767 |  |  | $ | 459,999 |
Adjusted EBITDA(1) |  |  |  |  |  |  |
Casinos & Resorts | $ | 88,001 |  |  | $ | 91,806 |  |  | $ | 161,791 |  |  | $ | 149,426 |
North America Interactive | (16,961) |  |  | 93 |  |  | (36,286) |  |  | 1,490 |
International Interactive | 82,612 |  |  | — |  |  | 155,939 |  |  | — |
Other | (12,428) |  |  | (9,074) |  |  | (25,267) |  |  | (16,219) |
Total | 141,224 |  |  | 82,825 |  |  | 256,177 |  |  | 134,697 |
Operating income (expense) |  |  |  |  |  |  |
Depreciation and amortization | (74,773) |  |  | (25,717) |  |  | (153,654) |  |  | (38,503) |
Acquisition, integration and restructuring | (10,112) |  |  | (18,402) |  |  | (15,392) |  |  | (30,660) |
Share-based compensation | (6,322) |  |  | (3,901) |  |  | (11,417) |  |  | (8,384) |
Gain on sale-leaseback | 50,766 |  |  | 53,425 |  |  | 50,766 |  |  | 53,425 |
Other | (15,464) |  |  | (7,698) |  |  | (18,641) |  |  | (569) |
Income from operations | 85,319 |  |  | 80,532 |  |  | 107,839 |  |  | 110,006 |
Other income (expense) |  |  |  |  |  |  |
Interest expense, net of interest income | (45,828) |  |  | (21,299) |  |  | (91,513) |  |  | (41,573) |
Other | 25,444 |  |  | 36,690 |  |  | 44,923 |  |  | 11,955 |
Total other income (expense), net | (20,384) |  |  | 15,391 |  |  | (46,590) |  |  | (29,618) |
Income before income taxes | 64,935 |  |  | 95,923 |  |  | 61,249 |  |  | 80,388 |
(Provision) benefit for income taxes | (5,434) |  |  | (26,981) |  |  | 141 |  |  | (22,151) |
Net income | $ | 59,501 |  |  | $ | 68,942 |  |  | $ | 61,390 |  |  | $ | 58,237 |
__________________________________ (1) Adjusted EBITDA is defined as earnings, or loss, for the Company before interest expense, net of interest income, provision (benefit) for income taxes, depreciation and amortization, non-operating (income) expense, acquisition, integration and restructuring expense, share-based compensation, and certain other gains or losses as well as, when presented for our reporting segments, an adjustment related to the allocation of corporate cost among segments. Adjusted EBITDA should not be construed as an alternative to GAAP net income, its most directly comparable GAAP measure, nor is it directly comparable to similarly titled measures presented by other companies.
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) | 2022 |  | 2021 |  | 2022 |  | 2021
Capital Expenditures |  |  |  |  |  |  |
Casinos & Resorts | $ | 55,808 |  |  | $ | 19,659 |  |  | $ | 104,381 |  |  | $ | 34,530 |
North America Interactive | 291 |  |  | 183 |  |  | 466 |  |  | 251 |
International Interactive | 5,426 |  |  | — |  |  | 11,108 |  |  | — |
Other | 40 |  |  | 616 |  |  | 126 |  |  | 1,004 |
Total | $ | 61,565 |  |  | $ | 20,458 |  |  | $ | 116,081 |  |  | $ | 35,785 |
(in thousands) | June 30, 2022 |  | December 31, 2021
Total Assets |  |  |
Casinos & Resorts | $ | 2,615,281 |  |  | $ | 2,437,249 |
North America Interactive | 576,256 |  |  | 528,634 |
International Interactive | 3,209,863 |  |  | 3,429,725 |
Other | (165,407) |  |  | 157,609 |
Total | $ | 6,235,993 |  |  | $ | 6,553,217 |

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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 http://asc.fasb.org/extlink&oid=123359005&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 http://asc.fasb.org/extlink&oid=123359005&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 http://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 http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599 + Details
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