Financial Reporting By Business Segments (Tables)

9 Months Ended

Sep. 30, 2021

Financial Reporting By Business Segments

Segments' Internal Financial Reports

The following information is derived directly from the segments’ internal financial reports used for corporate management purposes (amounts in thousands):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020
Revenues:
Hospitality	$	257,853	$	57,978	$	463,343	$	353,954
Entertainment		49,053		12,271		98,599		44,006
Corporate and Other		—		—		—		—
Total	$	306,906	$	70,249	$	561,942	$	397,960
Depreciation and amortization:
Hospitality	$	52,020	$	49,310	$	151,655	$	148,667
Entertainment		3,506		3,985		10,728		10,492
Corporate and Other		567		581		1,698		2,073
Total	$	56,093	$	53,876	$	164,081	$	161,232
Operating income (loss):
Hospitality	$	24,716	$	(78,322)	$	(65,846)	$	(154,633)
Entertainment		12,080		(9,057)		10,074		(26,632)
Corporate and Other		(10,983)		(7,880)		(28,620)		(24,766)
Preopening costs (1)		(118)		(96)		(734)		(1,597)
Gain on sale of assets (2)		—		—		317		1,261
Credit loss on held-to-maturity securities (3)		—		(7,811)		—		(32,784)
Total operating income (loss)		25,695		(103,166)		(84,809)		(239,151)
Interest expense		(32,413)		(28,127)		(93,056)		(87,527)
Interest income		1,433		1,540		4,254		5,765
Loss on extinguishment of debt		—		—		(2,949)		—
Loss from unconsolidated joint ventures		(2,312)		(1,767)		(5,831)		(5,482)
Other gains and (losses), net		53		1,729		254		(14,831)
Loss before income taxes	$	(7,544)	$	(129,791)	$	(182,137)	$	(341,226)

(1) Preopening costs for the nine months ended September 30, 2021 relate to the Hospitality segment. Preopening costs for the three months ended September 30, 2020 relate to the Hospitality segment. Preopening costs for the nine months ended September 30, 2020 include $0.2 million and $1.4 million for the Hospitality and Entertainment segments, respectively.

(2) Gain on sale of assets for the nine months ended September 30, 2021 and 2020 relates to the Hospitality segment.

(3) Credit loss on held-to-maturity securities for the three months and nine months ended September 30, 2020 relates to the Hospitality segment.