Financial Reporting By Business Segments (Tables)

9 Months Ended

Sep. 30, 2023

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,
	2023		2022		2023		2022
Revenues:
Hospitality	$	446,198	$	390,602	$	1,288,322	$	1,053,515
Entertainment		82,313		77,153		236,751		183,579
Corporate and Other		—		—		—		—
Total	$	528,511	$	467,755	$	1,525,073	$	1,237,094
Depreciation and amortization:
Hospitality	$	52,466	$	42,517	$	137,987	$	146,804
Entertainment		5,400		5,249		16,067		13,293
Corporate and Other		220		203		646		615
Total	$	58,086	$	47,969	$	154,700	$	160,712
Operating income (loss):
Hospitality	$	91,723	$	88,901	$	305,526	$	205,142
Entertainment		20,691		17,756		55,940		38,737
Corporate and Other		(10,323)		(9,652)		(31,228)		(32,038)
Preopening costs		(168)		—		(425)		(525)
Loss on sale of assets		—		—		—		(469)
Total operating income		101,923		97,005		329,813		210,847
Interest expense		(58,521)		(40,092)		(150,228)		(105,987)
Interest income		6,112		1,378		13,977		4,138
Loss on extinguishment of debt		—		—		(2,252)		(1,547)
Loss from unconsolidated joint ventures (1)		(12,566)		(2,720)		(17,525)		(8,348)
Other gains and (losses), net		5,993		2,058		5,470		2,222
Income before income taxes	$	42,941	$	57,629	$	179,255	$	101,325

(1) Loss from unconsolidated joint ventures relates to the Entertainment segment.

	September 30,		December 31,
	2023		2022
Total assets:
Hospitality	$	4,038,490	$	3,314,444
Entertainment		533,490		502,913
Corporate and Other		491,853		223,266
Total identifiable assets	$	5,063,833	$	4,040,623