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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Taxes [Abstract] |
US And Foreign Pre-Tax Income (Loss) |
Amounts in thousands |  | 2023 |  | 2022 |  | 2021
(Loss) income before taxes: |  |  |  |  |  |  |  |  |
US |  | $ | (30,793) |  | $ | (10,142) |  | $ | 29,715
Foreign |  |  | 6,961 |  |  | 16,152 |  |  | (1,566)
Total (loss) income before taxes |  | $ | (23,832) |  | $ | 6,010 |  | $ | 28,149
(Benefit) Provision For Income Taxes |
|  | For the year ended December 31,
Amounts in thousands |  |  | 2023 |  |  | 2022 |  |  | 2021
US - Current |  | $ | 1,088 |  | $ | 3,176 |  | $ | 5,160
US - Deferred |  |  | (6,504) |  |  | (14,981) |  |  | —
(Benefit) provision for US income taxes |  | $ | (5,416) |  | $ | (11,805) |  | $ | 5,160
Foreign - Current |  | $ | 17,085 |  | $ | 4,291 |  | $ | 866
Foreign - Deferred |  |  | (17,012) |  |  | (146) |  |  | 345
Provision for foreign income taxes |  | $ | 73 |  | $ | 4,145 |  | $ | 1,211
Total (benefit) provision for income taxes |  | $ | (5,343) |  | $ | (7,660) |  | $ | 6,371
Reconciliation Of Effective Income Tax Rate Statutory Federal Income Tax Rate |
Amounts in thousands | 2023 | 2022 | 2021
US federal income tax statutory rate | 21.0% | 21.0% | 21.0%
Foreign tax rate differential | 23.3% | 18.6% | (0.5%)
State income tax (net of federal benefit) | 2.1% | 0.9% | 3.0%
Income taxed to owners of non-controlling interest (Smooth Bourbon) | 4.7% | — | —
Meals, entertainment, gifts and giveaways | (1.0%) | 3.7% | 0.4%
Statutory to US GAAP adjustments, including foreign currency | 0.8% | (3.7%) | 2.6%
Valuation allowance | (5.5%) | (173.5%) | (4.6%)
Unrecognized tax benefit | (0.3%) | (4.7%) | (0.3%)
Stock options | (1.0%) | 7.0% | 1.3%
Global Intangible Low-Taxed Income ("GILTI"), net foreign tax credits | — | 2.5% | —
Foreign dividend withholding - current | (5.1%) | — | —
Foreign dividend withholding - unremitted earnings | (15.0%) | — | —
Permanent and other items | (1.6%) | 0.7% | (0.3%)
Total provision for income taxes | 22.4% | (127.5%) | 22.6%
Deferred Tax Assets And Liabilities |
Amounts in thousands |  |  | 2023 |  |  | 2022
Deferred tax assets (liabilities) - US Federal and state: |  |  |  |  |  |
Deferred tax assets |  |  |  |  |  |
Amortization of goodwill for tax |  | $ | 8,115 |  | $ | 8,101
Financing obligation to VICI Properties, Inc. subsidiaries |  |  | 127,074 |  |  | 69,356
NOL carryforward |  |  | 2,705 |  |  | —
Operating and finance leases |  |  | 394 |  |  | 462
Disallowed interest expense |  |  | 11,036 |  |  | 3,588
Accrued liabilities and other |  |  | 1,780 |  |  | 1,040
|  |  | 151,104 |  |  | 82,547
Valuation allowance |  |  | — |  |  | —
|  | $ | 151,104 |  | $ | 82,547
Deferred tax liabilities |  |  |  |  |  |
Property and equipment |  | $ | (126,426) |  | $ | (66,062)
Operating and finance leases |  |  | (375) |  |  | (444)
Prepaid expenses |  |  | (475) |  |  | (342)
Unremitted foreign subsidiary earnings |  |  | (2,343) |  |  | —
Other |  |  | — |  |  | (718)
|  | $ | (129,619) |  | $ | (67,566)
Long-term deferred tax asset |  | $ | 21,485 |  | $ | 14,981
Deferred tax assets (liabilities) - foreign |  |  |  |  |  |
Deferred tax assets |  |  |  |  |  |
Property and equipment |  | $ | 314 |  | $ | 276
Financing obligation to VICI Properties, Inc. subsidiaries |  |  | 38,354 |  |  | —
NOL carryforward |  |  | 10,245 |  |  | 7,464
Accrued liabilities and other |  |  | 978 |  |  | 984
Operating and finance leases |  |  | 5,138 |  |  | 8,415
Subsidiary liquidation |  |  | 2,378 |  |  | 2,810
Exchange rate gain |  |  | 589 |  |  | 926
|  |  | 57,996 |  |  | 20,875
Valuation allowance |  |  | (11,389) |  |  | (9,907)
|  | $ | 46,607 |  | $ | 10,968
Deferred tax liabilities |  |  |  |  |  |
Property and equipment |  | $ | (24,425) |  | $ | (3,823)
Exchange rate loss |  |  | (4) |  |  | (4)
Intangibles |  |  | (1,062) |  |  | (1,037)
Operating and finance leases |  |  | (4,485) |  |  | (7,726)
Unremitted foreign subsidiary earnings |  |  | (1,225) |  |  | —
Others |  |  | (609) |  |  | (592)
|  | $ | (31,810) |  | $ | (13,182)
Long-term deferred tax asset (liability) |  | $ | 14,797 |  | $ | (2,214)
Periods Subject To Examination Of Tax Returns |
Jurisdiction |  | Periods |
US Federal |  | 2017(1), 2020-2022 |
US State - Colorado |  | 2019-2022 |
US State – Missouri |  | 2020-2022 |
US State – West Virginia |  | 2020-2022 |
Canada |  | 2008-2022 |
Mauritius |  | 2020-2022 |
Poland |  | 2018-2022 |
Austria |  | 2018-2022 |
(1)The 2017 tax period subject to examination only applies to the Company’s transition tax liability in the United States.
Deferred Tax Assets Expiration |
Amounts in thousands |  |  |
2023 - 2033 |  | $ | 153
2034 - 2043 |  |  | 8,747
No expiration |  |  | 4,050
Total deferred tax assets |  | $ | 12,950
Unrecognized Tax Benefits |
Amounts in thousands |  | 2023 |  | 2022
Unrecognized tax benefit - January 1 |  | $ | 528 |  | $ | 777
Gross increases - tax positions in prior period |  |  | 11 |  |  | —
Gross decreases - tax positions in prior period |  |  | — |  |  | (31)
Gross increases - tax positions in current period |  |  | — |  |  | —
Settlements |  |  | — |  |  | —
Lapse of statute of limitations |  |  | — |  |  | (218)
Unrecognized tax benefit - December 31 |  | $ | 539 |  | $ | 528

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