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Revenue Recognition | 12 Months Ended
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Dec. 31, 2024
Revenue Recognition [Abstract] |
Revenue Recognition | 8. REVENUE RECOGNITION The Company derives revenue and other income primarily from contracts with customers. A breakout of the Company’s revenue and other income is presented in the table below.
|  | For the year
|  | ended December 31,
Amounts in thousands |  | 2024 |  | 2023 |  | 2022
Revenue from contracts with customers |  | $ | 575,919 |  | $ | 550,206 |  | $ | 430,529
Cost recovery income |  |  | 1,066 |  |  | 3,501 |  |  | 1,938
Century Casino Calgary sale earn out revenue |  |  | — |  |  | 1,660 |  |  | —
Total revenue |  | $ | 576,985 |  | $ | 555,367 |  | $ | 432,467
The Company operates gaming establishments as well as related lodging, restaurant, horse racing (including off-track betting), sports betting, iGaming, and entertainment facilities in the US, Canada and Poland. The Company generates revenue at its properties by providing the following types of products and services: gaming, pari-mutuel and sports betting, iGaming, hotel, food and beverage, and other. Disaggregation of the Company’s revenue from contracts with customers by type of revenue and geographical location is presented in the tables below.
| For the year ended December 31, 2024
Amounts in thousands |  | United States |  |  | Canada |  |  | Poland |  |  | Corporate and Other |  |  | Total
Gaming | $ | 293,702 |  | $ | 48,062 |  | $ | 78,184 |  | $ | — |  | $ | 419,948
Pari-mutuel, sports betting and iGaming |  | 9,597 |  |  | 9,419 |  |  | — |  |  | — |  |  | 19,016
Hotel |  | 47,675 |  |  | 578 |  |  | — |  |  | — |  |  | 48,253
Food and beverage |  | 45,548 |  |  | 12,566 |  |  | 833 |  |  | — |  |  | 58,947
Other |  | 23,146 |  |  | 5,692 |  |  | 883 |  |  | 34 |  |  | 29,755
Net operating revenue | $ | 419,668 |  | $ | 76,317 |  | $ | 79,900 |  | $ | 34 |  | $ | 575,919
| For the year ended December 31, 2023
Amounts in thousands |  | United States |  |  | Canada |  |  | Poland |  |  | Corporate and Other |  |  | Total
Gaming | $ | 272,499 |  | $ | 46,871 |  | $ | 92,957 |  | $ | 61 |  | $ | 412,388
Pari-mutuel, sports betting and iGaming |  | 10,145 |  |  | 10,020 |  |  | — |  |  | — |  |  | 20,165
Hotel |  | 41,750 |  |  | 519 |  |  | — |  |  | — |  |  | 42,269
Food and beverage |  | 36,803 |  |  | 12,532 |  |  | 927 |  |  | — |  |  | 50,262
Other |  | 19,394 |  |  | 5,507 |  |  | 221 |  |  | — |  |  | 25,122
Net operating revenue | $ | 380,591 |  | $ | 75,449 |  | $ | 94,105 |  | $ | 61 |  | $ | 550,206
| For the year ended December 31, 2022
Amounts in thousands |  | United States |  |  | Canada |  |  | Poland |  |  | Corporate and Other |  |  | Total
Gaming | $ | 232,871 |  | $ | 43,972 |  | $ | 88,959 |  | $ | 184 |  | $ | 365,986
Pari-mutuel, sports betting and iGaming |  | 8,728 |  |  | 10,879 |  |  | — |  |  | — |  |  | 19,607
Hotel |  | 9,159 |  |  | 469 |  |  | — |  |  | — |  |  | 9,628
Food and beverage |  | 12,394 |  |  | 10,860 |  |  | 843 |  |  | — |  |  | 24,097
Other |  | 5,430 |  |  | 5,392 |  |  | 367 |  |  | 22 |  |  | 11,211
Net operating revenue | $ | 268,582 |  | $ | 71,572 |  | $ | 90,169 |  | $ | 206 |  | $ | 430,529
For the majority of the Company’s contracts with customers, payment is made in advance of the services and contracts are settled on the same day the sale occurs with revenue recognized on the date of the sale. For contracts that are not settled, a contract liability is created. The expected duration of the performance obligation is less than one year. ‎ The amount of revenue recognized that was included in the opening contract liability balance was $4.1 million and $2.0 million for the years ended December 31, 2024 and 2023, respectively. This revenue consisted primarily of the Company’s deferred gaming revenue from player points earned through play at the Company’s casinos located in the United States and events at the Nugget. Activity in the Company’s receivables and contract liabilities is presented in the table below.
|  | For the year ended |  | For the year ended
|  | December 31, 2024 |  | December 31, 2023
Amounts in thousands |  | Receivables |  | Contract Liabilities |  | Receivables |  | Contract Liabilities
Opening |  | $ | 1,640 |  | $ | 4,714 |  | $ | 1,351 |  | $ | 2,417
Closing |  |  | 553 |  |  | 3,644 |  |  | 1,640 |  |  | 4,714
(Decrease)/Increase |  | $ | (1,087) |  | $ | (1,070) |  | $ | 289 |  | $ | 2,297
The 2023 increase in contract liabilities was due to the added contract liabilities from the Nugget and Rocky Gap. The 2024 decrease in contract liabilities was due to less deferred revenue as of December 31, 2024. Receivables are included in accounts receivable and contract liabilities are included in accrued liabilities on the Company’s consolidated balance sheets. Substantially all of the Company’s contracts and contract liabilities have an original duration of one year or less. The Company applies the practical expedient for such contracts and does not consider the effects of the time value of money. Further, because of the short duration of these contracts, the Company has not disclosed the transaction price for the remaining performance obligations as of the end of each reporting period or when the Company expects to recognize this revenue. Pari-mutuel, sports betting and iGaming revenue includes the following for the years ended December 31, 2024, 2023 and 2022:
|  | For the year ended December 31,
Amounts in thousands |  | 2024 |  | 2023 |  | 2022
Pari-mutuel revenue |  | $ | 15,202 |  | $ | 15,980 |  | $ | 16,310
Sports betting revenue |  |  | 2,058 |  |  | 3,053 |  |  | 2,734
iGaming revenue |  |  | 1,756 |  |  | 1,132 |  |  | 563
Total |  | $ | 19,016 |  | $ | 20,165 |  | $ | 19,607

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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