XML 39 R28.htm IDEA: XBRL DOCUMENT v3.10.0.1
Segment Information (Tables)
9 Months Ended
Sep. 30, 2018
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information

The following tables set forth, for the periods indicated, certain operating data for the Company’s segments, and reconciles Adjusted EBITDA to net income (loss):

 

 

 

Three Months Ended September 30, 2018

 

(In thousands)

 

Casinos

 

 

Distributed

Gaming

 

 

Corporate and

Other

 

 

Consolidated

 

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gaming

 

$

60,440

 

 

$

67,324

 

 

$

 

 

$

127,764

 

Food and beverage

 

 

29,666

 

 

 

12,333

 

 

 

 

 

 

41,999

 

Rooms

 

 

28,104

 

 

 

 

 

 

 

 

 

28,104

 

Other

 

 

10,627

 

 

 

1,531

 

 

 

312

 

 

 

12,470

 

Total revenues

 

$

128,837

 

 

$

81,188

 

 

$

312

 

 

$

210,337

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

19,113

 

 

$

5,014

 

 

$

(27,251

)

 

$

(3,124

)

Depreciation and amortization

 

 

17,667

 

 

 

5,292

 

 

 

371

 

 

 

23,330

 

Acquisition expenses

 

 

 

 

 

 

 

 

1,123

 

 

 

1,123

 

Loss on disposal of property and equipment

 

 

770

 

 

 

4

 

 

 

 

 

 

774

 

Share-based compensation

 

 

37

 

 

 

3

 

 

 

2,743

 

 

 

2,783

 

Preopening expenses

 

 

 

 

 

73

 

 

 

(52

)

 

 

21

 

Class action litigation expenses

 

 

 

 

 

 

 

 

219

 

 

 

219

 

Executive severance

 

 

54

 

 

 

1

 

 

 

65

 

 

 

120

 

Other, net

 

 

 

 

 

 

 

 

50

 

 

 

50

 

Interest expense, net

 

 

25

 

 

 

21

 

 

 

16,245

 

 

 

16,291

 

Change in fair value of derivative

 

 

 

 

 

 

 

 

(1,222

)

 

 

(1,222

)

Income tax benefit

 

 

 

 

 

 

 

 

(2,222

)

 

 

(2,222

)

Adjusted EBITDA

 

$

37,666

 

 

$

10,408

 

 

$

(9,931

)

 

$

38,143

 

 

 

 

Three Months Ended September 30, 2017

 

(In thousands)

 

Casinos

 

 

Distributed

Gaming

 

 

Corporate and

Other

 

 

Consolidated

 

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gaming

 

$

19,958

 

 

$

66,686

 

 

$

 

 

$

86,644

 

Food and beverage

 

 

3,674

 

 

 

11,495

 

 

 

 

 

 

15,169

 

Rooms

 

 

2,237

 

 

 

 

 

 

 

 

 

2,237

 

Other

 

 

1,552

 

 

 

1,966

 

 

 

92

 

 

 

3,610

 

Total revenues

 

$

27,421

 

 

$

80,147

 

 

$

92

 

 

$

107,660

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

6,686

 

 

$

7,517

 

 

$

(5,648

)

 

$

8,555

 

Depreciation and amortization

 

 

2,202

 

 

 

4,937

 

 

 

400

 

 

 

7,539

 

Acquisition expenses

 

 

 

 

 

 

 

 

2,975

 

 

 

2,975

 

Loss on disposal of property and equipment

 

 

35

 

 

 

272

 

 

 

1

 

 

 

308

 

Gain on contingent consideration

 

 

 

 

 

(1,719

)

 

 

 

 

 

(1,719

)

Share-based compensation

 

 

 

 

 

 

 

 

1,603

 

 

 

1,603

 

Preopening expenses

 

 

 

 

 

121

 

 

 

161

 

 

 

282

 

Class action litigation expenses

 

 

 

 

 

 

 

 

1,530

 

 

 

1,530

 

Sign-on bonuses

 

 

 

 

 

 

 

 

166

 

 

 

166

 

Interest expense, net

 

 

5

 

 

 

41

 

 

 

1,839

 

 

 

1,885

 

Income tax benefit

 

 

 

 

 

 

 

 

(8,051

)

 

 

(8,051

)

Adjusted EBITDA

 

$

8,928

 

 

$

11,169

 

 

$

(5,024

)

 

$

15,073

 

 

 

 

Nine Months Ended September 30, 2018

 

(In thousands)

 

Casinos

 

 

Distributed

Gaming

 

 

Corporate and

Other

 

 

Consolidated

 

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gaming

 

$

186,828

 

 

$

207,345

 

 

$

 

 

$

394,173

 

Food and beverage

 

 

90,405

 

 

 

37,619

 

 

 

 

 

 

128,024

 

Rooms

 

 

81,737

 

 

 

 

 

 

 

 

 

81,737

 

Other

 

 

31,280

 

 

 

5,782

 

 

 

673

 

 

 

37,735

 

Total revenues

 

$

390,250

 

 

$

250,746

 

 

$

673

 

 

$

641,669

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

67,190

 

 

$

20,014

 

 

$

(82,804

)

 

$

4,400

 

Depreciation and amortization

 

 

54,714

 

 

 

15,419

 

 

 

1,288

 

 

 

71,421

 

Acquisition expenses

 

 

 

 

 

 

 

 

2,429

 

 

 

2,429

 

Loss on disposal of property and equipment

 

 

1,050

 

 

 

19

 

 

 

 

 

 

1,069

 

Share-based compensation

 

 

37

 

 

 

3

 

 

 

7,345

 

 

 

7,385

 

Preopening expenses

 

 

 

 

 

309

 

 

 

549

 

 

 

858

 

Class action litigation expenses

 

 

16

 

 

 

195

 

 

 

343

 

 

 

554

 

Executive severance

 

 

273

 

 

 

38

 

 

 

367

 

 

 

678

 

Other, net

 

 

144

 

 

 

167

 

 

 

129

 

 

 

440

 

Interest expense, net

 

 

74

 

 

 

93

 

 

 

46,933

 

 

 

47,100

 

Change in fair value of derivative

 

 

 

 

 

 

 

 

(5,895

)

 

 

(5,895

)

Income tax benefit

 

 

 

 

 

 

 

 

(106

)

 

 

(106

)

Adjusted EBITDA

 

$

123,498

 

 

$

36,257

 

 

$

(29,422

)

 

$

130,333

 

 

 

 

Nine Months Ended September 30, 2017

 

(In thousands)

 

Casinos

 

 

Distributed

Gaming

 

 

Corporate and

Other

 

 

Consolidated

 

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gaming

 

$

57,385

 

 

$

204,694

 

 

$

 

 

$

262,079

 

Food and beverage

 

 

10,747

 

 

 

34,314

 

 

 

 

 

 

45,061

 

Rooms

 

 

5,646

 

 

 

 

 

 

 

 

 

5,646

 

Other

 

 

4,112

 

 

 

6,263

 

 

 

267

 

 

 

10,642

 

Total revenues

 

$

77,890

 

 

$

245,271

 

 

$

267

 

 

$

323,428

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

16,365

 

 

$

23,596

 

 

$

(24,351

)

 

$

15,610

 

Depreciation and amortization

 

 

5,798

 

 

 

14,513

 

 

 

1,188

 

 

 

21,499

 

Acquisition expenses

 

 

 

 

 

 

 

 

5,041

 

 

 

5,041

 

Loss on disposal of property and equipment

 

 

35

 

 

 

272

 

 

 

1

 

 

 

308

 

Gain on contingent consideration

 

 

 

 

 

(1,719

)

 

 

 

 

 

(1,719

)

Share-based compensation

 

 

 

 

 

 

 

 

5,352

 

 

 

5,352

 

Preopening expenses

 

 

 

 

 

730

 

 

 

398

 

 

 

1,128

 

Class action litigation expenses

 

 

 

 

 

 

 

 

1,585

 

 

 

1,585

 

Sign-on bonuses

 

 

 

 

 

 

 

 

166

 

 

 

166

 

Interest expense, net

 

 

(34

)

 

 

361

 

 

 

5,241

 

 

 

5,568

 

Income tax benefit

 

 

 

 

 

 

 

 

(10,893

)

 

 

(10,893

)

Adjusted EBITDA

 

$

22,164

 

 

$

37,753

 

 

$

(16,272

)

 

$

43,645

 

 

Total Segment Assets

The Company’s assets by segment consisted of the following amounts:

 

(In thousands)

 

Casinos

 

 

Distributed

Gaming

 

 

Corporate and

Other

 

 

Consolidated

 

Balance at September 30, 2018

 

$

1,012,607

 

 

$

297,151

 

 

$

80,502

 

 

$

1,390,260

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at December 31, 2017

 

$

1,039,025

 

 

$

298,453

 

 

$

27,697

 

 

$

1,365,175