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Income Taxes (Tables)

12 Months Ended

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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