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NEW ACCOUNTING STANDARDS (Tables)
 3 Months Ended
Dec. 31, 2018
Accounting Changes and Error Corrections [Abstract]  
Schedule of New Accounting Pronouncements
The impact of adopting ASC 606 on the Company’s condensed consolidated statement of income for three months ended December 31, 2018 was as follows (in thousands):
 
 
 
 
 
 
 
Promotional
 
 
 
 
 
 
 
 
 
 
 
 
 
Promotional
 
Allowances
 
Gross vs.
 
 
 
 
 
 
 
For the
 
 
 
Allowances
 
(Non-
 
Net
 
 
 
 
 
Effect of
 
Three Months Ended
 
Loyalty
 
(Discretionary
 
Discretionary
 
Presentation
 
Cash
 
Balance
 
Change
 
December 31, 2018
 
Points
 
Complimentaries)
 
Complimentaries)
 
and Other
 
Giveaways
 
without
 
Higher/
 
2018
 
(1)
 
(2)
 
(2)
 
(3)
 
(4)
 
ASC 606
 
(Lower)
Revenues:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gaming
$
221,935

 
$
1,219

 
$
(30,736
)
 
$
(17,847
)
 
$
5,650

 
$
(2,679
)
 
$
266,328

 
$
(44,393
)
Food and beverage
34,806

 
—

 
10,101

 
—

 
1,149

 
—

 
23,556

 
11,250

Hotel
22,977

 
—

 
5,998

 
—

 
164

 
—

 
16,815

 
6,162

Retail, entertainment and other
39,782

 
—

 
152

 
1,605

 
(1,962
)
 
—

 
39,987

 
(205
)
Gross revenues
319,500

 
1,219

 
(14,485
)
 
(16,242
)
 
5,001

 
(2,679
)
 
346,686

 
(27,186
)
Less-Promotional allowances
—

 
—

 
15,650

 
6,381

 
706

 
—

 
(22,737
)
 
22,737

Net revenues
319,500

 
1,219

 
1,165

 
(9,861
)
 
5,707

 
(2,679
)
 
323,949

 
(4,449
)
Operating costs and expenses:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Gaming
128,664

 
(95
)
 
(1,711
)
 
(29,629
)
 
5,752

 
(2,679
)
 
157,026

 
(28,362
)
Food and beverage
26,447

 
—

 
2,876

 
7,355

 
1,149

 
—

 
15,067

 
11,380

Hotel
9,803

 
—

 
—

 
2,591

 
164

 
—

 
7,048

 
2,755

Retail, entertainment and other
20,762

 
—

 
—

 
9,822

 
(1,467
)
 
—

 
12,407

 
8,355

Advertising, general and administrative
49,018

 
—

 
—

 
—

 
109

 
—

 
48,909

 
109

Corporate
12,425

 
—

 
—

 
—

 
—

 
—

 
12,425

 
—

Depreciation and amortization
27,090

 
—

 
—

 
—

 
—

 
—

 
27,090

 
—

Other, net
1,921

 
—

 
—

 
—

 
—

 
—

 
1,921

 
—

Total operating costs and expenses
276,130

 
(95
)
 
1,165

 
(9,861
)
 
5,707

 
(2,679
)
 
281,893

 
(5,763
)
Income from operations
$
43,370

 
$
1,314

 
$
—

 
$
—

 
$
—

 
$
—

 
$
42,056

 
$
1,314

The most significant impacts were as follows:
(1) ASC 606 modified the accounting related to loyalty points. The Company’s loyalty reward programs allow patrons to utilize their reward membership cards to earn loyalty points that are redeemable for complimentary items such as food and beverage, lodging and retail products. Under ASC 606, the Company is required to utilize a deferred revenue model to reduce gaming revenues by the estimated fair value of loyalty points earned by patrons and recognize the related revenues when such loyalty points are redeemed. The deferred revenue liability is based on the estimated stand-alone selling price (“SSP”) of the loyalty points earned after factoring in the likelihood of redemption ("Breakage"). Prior to the adoption of ASC 606, the liability for unredeemed loyalty points was estimated based on expected redemption rates and estimated costs of the goods and services to be provided.
(2) ASC 606 modified the accounting related to promotional allowances. The Company no longer recognizes revenues for complimentary items provided to patrons, as well as for goods and services provided to patrons in connection with loyalty point redemptions, as gross revenues with a corresponding offset to promotional allowances to arrive at net revenues. The majority of such amounts previously included within promotional allowances now offset gaming revenues based on an allocation of revenues to performance obligations utilizing SSP. These changes resulted in the elimination of promotional allowances and the reclassification of revenues between the various revenue line items.

(3) ASC 606 modified gross versus net presentation. The Company now records mandatory service charges on food and beverage items and wide area progressive operator fees on a gross basis, with amounts received from patrons recorded as revenues and the corresponding amounts paid recorded as expenses. This change resulted in an increase in revenues with a corresponding increase in expenses.

(4)
The impact of adopting ASC 606 on the Company’s condensed consolidated balance sheet as of December 31, 2018 was as follows (in thousands):
 
Balance under ASC 606
 
Balance without ASC 606
 
Effect of Change
 
December 31, 2018
 
December 31, 2018
 
Higher/ (Lower)
Other current liabilities
$
176,033

 
$
135,774

 
$
40,259

Retained earnings
$
203,255

 
$
243,514

 
$
(40,259
)
    
Disaggregation of Revenue
Contract with Customer
The following table summarizes these liabilities (in thousands):
 
December 31, 2018
 
October 1, 2018
 
Increase/ (Decrease)
Outstanding gaming chips and slot tickets liability
$
6,690

 
$
3,298

 
$
3,392

Loyalty points deferred revenue liability
$
41,061

 
$
42,314

 
$
(1,253
)
Patron advances and other liability
$
20,029

 
$
17,530

 
$
2,499