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Leases | 12 Months Ended
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Dec. 31, 2021
Leases [Abstract] |
Leases | 9. 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 16 years. The Company 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, the Company impaired $7.3 million related to the CCB ROU asset to impairment – intangible and tangible assets on its consolidated statement of earnings (loss) for the year ended December 31, 2019. The components of lease expense were as follows: For the year ended December 31, Amounts in thousands 2021 2020 2019Operating lease expense $ 5,864 $ 5,250 $ 6,443 Finance lease expense: Amortization of right-of-use assets $ 128 $ 165 $ 303Interest on lease liabilities 6 15 44Total finance lease expense $ 134 $ 180 $ 347 Variable lease expense $ 1,290 $ 1,476 $ 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 December 31, Amounts in thousands 2021 2020 2019Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 6 $ 5 $ 48Operating cash flows from operating leases 5,201 6,355 7062Financing cash flows from finance leases 123 166 364 ‎ Supplemental balance sheet information related to leases was as follows: As of As ofAmounts in thousands December 31, 2021 December 31, 2020Operating leases Leased right-of-use assets, net $ 28,383 $ 34,074 Current portion of operating lease liabilities 3,915 4,327Operating lease liabilities, net of current portion 27,229 32,277Total operating lease liabilities 31,144 36,604 Finance leases Finance lease right-of-use assets, gross 424 552Accumulated depreciation (342) (338)Property and equipment, net 82 214 Current portion of finance lease liabilities 38 131Finance lease liabilities, net of current portion 43 83Total finance lease liabilities 81 214 Weighted-average remaining lease term Operating leases 11.2 years 11.3 yearsFinance leases 2.2 years 2.1 years Weighted-average discount rate Operating leases 4.7% 4.5%Finance leases 4.0% 4.7% Maturities of lease liabilities as of December 31, 2021 were as follows: Amounts in thousands Operating Leases Finance Leases2022 $ 5,101 $ 402023 4,528 252024 3,824 202025 2,762 —2026 2,477 —Thereafter 23,435 —Total lease payments 42,127 85Less imputed interest (10,983) (4)Total $ 31,144 $ 81 10

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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