The Company conducts its business through two reportable operating segments: Casinos and Distributed Gaming. The Company’s Casinos segment involves the ownership and operation of resort casino properties in Nevada and Maryland. The Company’s Distributed Gaming segment involves the installation, maintenance and operation of slots and amusement devices in non-casino locations such as restaurants, bars, taverns, convenience stores, liquor stores and grocery stores in Nevada and Montana, and the operation of branded taverns targeting local patrons located primarily in the greater Las Vegas, Nevada metropolitan area. The Corporate and Other segment includes the Company’s cash and cash equivalents, miscellaneous receivables and corporate overhead. Costs recorded in the Corporate and Other segment have not been allocated to the Company’s reportable operating segments because these costs are not easily allocable and to do so would not be practical.

The Company evaluates each segment’s profitability based upon such segment’s Adjusted EBITDA, which represents each segment’s earnings before interest and other non-operating income (expense), income taxes, depreciation and amortization, preopening expense, acquisition expenses, share-based compensation expenses, executive severance, rebranding, class action litigation expenses, gain/loss on disposal of property and equipment, gain on change in fair value of derivative and other losses, calculated before corporate overhead (which is not allocated to each segment).

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

	Three Months Ended June 30, 2019
(In thousands)	Casinos		Distributed Gaming		Corporate and Other			Consolidated
Revenues
Gaming	$	72,237	$	74,009	$	—		$	146,246
Food and beverage		39,049		13,055		—			52,104
Rooms		35,514		—		—			35,514
Other		11,916		2,089		201			14,206
Total revenues	$	158,716	$	89,153	$	201		$	248,070

Net income (loss)	$	22,471	$	7,347	$	(44,226	)	$	(14,408	)
Depreciation and amortization		24,052		5,569		355			29,976
Preopening and related expenses⁽¹⁾		700		660		137			1,497
Acquisition and severance expenses		101		9		1,013			1,123
Asset disposal and other writedowns		511		74		—			585
Share-based compensation		—		—		2,134			2,134
Other, net		81		—		406			487
Interest expense, net		64		23		19,048			19,135
Loss on extinguishment and modification of debt		—		—		9,150			9,150
Change in fair value of derivative		—		—		1,489			1,489
Income tax benefit		—		—		(1,344	)		(1,344	)
Adjusted EBITDA	$	47,980	$	13,682	$	(11,838	)	$	49,824

	Three Months Ended June 30, 2018
(In thousands)	Casinos		Distributed Gaming		Corporate and Other			Consolidated
Revenues
Gaming	$	61,929	$	70,617	$	—		$	132,546
Food and beverage		30,743		12,679		—			43,422
Rooms		27,660		—		—			27,660
Other		10,594		2,101		220			12,915
Total revenues	$	130,926	$	85,397	$	220		$	216,543

Net income (loss)	$	24,236	$	7,552	$	(28,194	)	$	3,594
Depreciation and amortization		17,412		4,979		463			22,854
Preopening expenses⁽¹⁾		—		88		301			389
Acquisition and severance expenses		168		2		395			565
Asset disposal and other writedowns		218		—		—			218
Share-based compensation		—		—		2,758			2,758
Other, net		123		195		99			417
Interest expense, net		25		26		16,015			16,066
Change in fair value of derivative		—		—		(1,462	)		(1,462	)
Income tax provision		—		—		897			897
Adjusted EBITDA	$	42,182	$	12,842	$	(8,728	)	$	46,296

	Six Months Ended June 30, 2019
(In thousands)	Casinos		Distributed Gaming		Corporate and Other			Consolidated
Revenues
Gaming	$	143,122	$	146,916	$	—		$	290,038
Food and beverage		75,491		26,371		—			101,862
Rooms		66,801		—		—			66,801
Other		24,676		4,223		362			29,261
Total revenues	$	310,090	$	177,510	$	362		$	487,962

Net income (loss)	$	45,160	$	14,953	$	(82,539	)	$	(22,426	)
Depreciation and amortization		45,695		10,898		648			57,241
Preopening and related expenses⁽¹⁾		2,354		1,226		149			3,729
Acquisition and severance expenses		387		35		2,245			2,667
Asset disposal and other writedowns		767		65		390			1,222
Share-based compensation		11		5		6,302			6,318
Other, net		92		—		1,259			1,351
Interest expense, net		116		39		37,115			37,270
Loss on extinguishment and modification of debt		—		—		9,150			9,150
Change in fair value of derivative		—		—		3,737			3,737
Income tax benefit		—		—		(1,995	)		(1,995	)
Adjusted EBITDA	$	94,582	$	27,221	$	(23,539	)	$	98,264

	Six Months Ended June 30, 2018
(In thousands)	Casinos		Distributed Gaming		Corporate and Other			Consolidated
Revenues
Gaming	$	126,388	$	140,021	$	—		$	266,409
Food and beverage		60,739		25,286		—			86,025
Rooms		53,787		—		—			53,787
Other		20,499		4,251		361			25,111
Total revenues	$	261,413	$	169,558	$	361		$	431,332

Net income (loss)	$	48,077	$	15,000	$	(55,553	)	$	7,524
Depreciation and amortization		37,047		10,127		917			48,091
Preopening expenses⁽¹⁾		—		236		601			837
Acquisition and severance expenses		219		37		1,608			1,864
Asset disposal and other writedowns		280		15		—			295
Share-based compensation		—		—		4,602			4,602
Other, net		160		362		203			725
Interest expense, net		49		72		30,688			30,809
Change in fair value of derivative		—		—		(4,673	)		(4,673	)
Income tax provision		—		—		2,116			2,116
Adjusted EBITDA	$	85,832	$	25,849	$	(19,491	)	$	92,190

(1)	Preopening expenses include rent, organizational costs, non-capital costs associated with the opening of tavern and casino locations, and expenses related to The Strat rebranding and the launch of the TrueRewards loyalty program.

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 June 30, 2019	$	1,213,701	$	431,956	$	49,013	$	1,694,670

Balance at December 31, 2018	$	1,006,292	$	299,697	$	60,580	$	1,366,569