XML 22 R10.htm IDEA: XBRL DOCUMENT v3.22.4
Assets Held for Sale
 12 Months Ended
Dec. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]  
Assets Held for Sale Assets Held for SaleThe Company classifies assets as held for sale when a sale is probable, is expected to be completed within one year, and the asset group meets all of the accounting criteria to be classified as held for sale. As discussed in “Note 1 — Nature of Business,” on August 24, 2022, the Company entered into definitive agreements to sell Rocky Gap. The Rocky Gap Transactions are expected to close in the second quarter of 2023, subject to satisfaction or waiver of customary regulatory approvals and closing conditions. As a result, the assets related to the Rocky Gap property were classified as held for sale as of September 30, 2022
and the Company ceased recording depreciation and amortization of the long-lived assets included in the sale from the date of execution of the definitive agreements. Operations of Rocky Gap have historically been represented in the Company’s Maryland Casino Resort reportable segment.
The carrying amounts of the assets and liabilities held for sale in the Rocky Gap Transactions consisted of the following:
(In thousands)December 31, 2022
ASSETS
Current assets
Cash and cash equivalents$5,145 
Accounts receivables, net 2,354 
Prepaid expenses539 
Inventories548 
Other46 
Total current assets held for sale8,632 
Property and equipment, net23,877 
Operating lease right-of-use assets, net5,980 
Intangible assets, net1,064 
Other assets9 
Total assets held for sale$39,562 
LIABILITIES
Current liabilities
Current portion of finance leases$103 
Current portion of operating leases436 
Accounts payable1,195 
Accrued payroll and related1,071 
Other accrued liabilities1,972 
Total current liabilities related to assets held for sale4,777 
Non-current finance leases204 
Non-current operating leases5,206 
Total liabilities related to assets held for sale$10,187 
Rocky Gap generated revenues of $78.0 million, $78.2 million, and $51.6 million, and pretax income of $23.0 million, $22.2 million, and $10.1 million for the years ended December 31, 2022, 2021, and 2020, respectively.