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Leases | 12 Months Ended
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Dec. 31, 2019
Leases [Abstract] |
Leases | 10. LEASES ﻿ The Company determines if an arrangement is a lease at inception. ROU assets represent the Company’s right to use an underlying asset for the lease term, and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. The Company uses its incremental borrowing rate in each of the jurisdictions in which its subsidiaries operate to calculate the present value of lease payments. Lease terms may include options to extend or terminate the lease. These options are included in the lease term when it is reasonably certain that the Company will exercise those options. Operating lease expense is recorded on a straight-line basis over the lease term. ﻿ The Company accounts for lease agreements with lease and non-lease components as a single lease component for all asset classes. The Company does not establish ROU assets or lease liabilities for operating leases with terms of 12 months or less. ﻿ The Company’s operating and finance leases include land, casino space, corporate offices, and gaming and other equipment. The leases have remaining lease terms of one month to 20 years. ﻿ The Company has determined that the ROU asset at CCB was impaired based on the losses incurred by the casino since operations began and future forecasts of continued losses due to the current regulatory environment for casinos in England. As a result of this conclusion, the Company impaired $7.3 million related to the CCB ROU asset to impairment – intangible and tangible assets on its consolidated statement of (loss) earnings for the year ended December 31, 2019. ﻿ The components of lease expense were as follows: ﻿
﻿ |  |  |
﻿ |  | For the year ended
﻿Amounts in thousands |  | December 31, 2019
﻿Operating lease expense |  | $ | 6,443
﻿ |  |  |
﻿Finance lease expense: |  |  |
﻿Amortization of right-of-use assets |  | $ | 303
﻿Interest on lease liabilities |  |  | 44
﻿Total finance lease expense |  | $ | 347
﻿ |  |  |
﻿Short-term lease expense |  | $ | 697
﻿ |  |  |
﻿Variable lease expense |  | $ | 3,502
﻿ Variable lease expense relates primarily to rates based on a percentage of gaming revenue, changes in indexes that are excluded from the lease liability and fluctuations in foreign currency related to leases in Poland. ﻿ Supplemental cash flow information related to leases was as follows: ﻿
﻿ |  |  |
﻿ |  | For the year ended
﻿ |  | ended December 31,
﻿Amounts in thousands |  | 2019
﻿Cash paid for amounts included in the measurement of lease liabilities: |  |  |
﻿Operating cash flows from finance leases |  | $ | 48
﻿Operating cash flows from operating leases |  |  | 7,062
﻿Financing cash flows from finance leases |  |  | 364
﻿ ﻿ Supplemental balance sheet information related to leases was as follows: ﻿
﻿ |  |  |
﻿ |  | As of
﻿Amounts in thousands |  | December 31, 2019
﻿Operating leases |  |  |
﻿Leased right-of-use assets, net |  | $ | 37,040
﻿ |  |  |
﻿Current portion of operating lease liabilities |  |  | 4,235
﻿Operating lease liabilities, net of current portion |  |  | 42,942
﻿Total operating lease liabilities |  |  | 47,177
﻿ |  |  |
﻿Finance leases |  |  |
﻿Finance lease right-of-use assets, gross |  |  | 731
﻿Accumulated depreciation |  |  | (338)
﻿Property and equipment, net |  |  | 393
﻿ |  |  |
﻿Current portion of finance lease liabilities |  |  | 161
﻿Finance lease liabilities, net of current portion |  |  | 217
﻿Total finance lease liabilities |  |  | 378
﻿ |  |  |
﻿Weighted-average remaining lease term |  |  |
﻿Operating leases |  |  | 14.4 years
﻿Finance leases |  |  | 2.7 years
﻿ |  |  |
﻿Weighted-average discount rate |  |  |
﻿Operating leases |  |  | 4.8%
﻿Finance leases |  |  | 5.1%
﻿ |  |  |
﻿Right-of-use assets obtained - operating leases |  | $ | 56,001
﻿Right-of-use assets obtained - finance leases |  | $ | 1,477
﻿ Maturities of lease liabilities as of December 31, 2019 were as follows: ﻿ ﻿
﻿ |  |  |  |  |  |
﻿Amounts in thousands |  |  | Operating leases |  | Finance leases
﻿2020 |  | $ | 6,129 |  | $ | 174
﻿2021 |  |  | 6,088 |  |  | 141
﻿2022 |  |  | 5,844 |  |  | 40
﻿2023 |  |  | 5,111 |  |  | 26
﻿2024 |  |  | 4,120 |  |  | 20
﻿Thereafter |  |  | 41,661 |  |  | —
﻿Total lease payments |  |  | 68,953 |  |  | 401
﻿Less imputed interest |  |  | (21,776) |  |  | (23)
﻿Total |  | $ | 47,177 |  | $ | 378
﻿ 10 ﻿ As previously disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 and under the prior lease standard, the following table summarizes the future minimum lease obligations of our operating leases as of December 31, 2018: ﻿ ﻿
﻿ |  |  |
﻿Amounts in thousands |  |  |
﻿2019 |  | $ | 4,079
﻿2020 |  |  | 2,783
﻿2021 |  |  | 2,748
﻿2022 |  |  | 2,700
﻿2023 |  |  | 2,646
﻿Total |  | $ | 14,956
﻿ |  |  |
﻿

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 + Details
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