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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Operating activities      
Net income $ 128,122 $ 138,807 $ 14,853
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 109,783 106,843 28,923
Amortization of debt issuance costs 14,016 8,057 1,270
Losses (gains) on dispositions of property 185 10 (39)
Deferred income taxes (813) (3,305) (5,646)
Stock-based compensation 16,811 12,258 1,566
Straight-line rent adjustments 55,825 44,877 6,677
(Increase) decrease,      
Prepaid expenses and other current assets (9,708) (10,601) (885)
Other assets (4) (1,660) (662)
(Decrease), increase      
Accounts payable (946) (1,650) 2,638
Accrued expenses 4,241 (8,444) 7,996
Accrued interest 95 (527) 17,216
Accrued salaries and wages 1,138 2,244 2,131
Gaming, property and other taxes (956) 527 (7)
Income taxes 0 (17,054) 4,018
Other current and noncurrent liabilities 1,899 2,877 583
Net cash provided by operating activities 319,688 273,259 80,632
Investing activities      
Capital project expenditures, net of reimbursements (16,149) (139,231) (12,198)
Capital maintenance expenditures (2,953) (3,538) (4,230)
Proceeds from sale of property and equipment 310 180 153
Funding of loan receivable 0 (43,000) 0
Principal payments on loan receivable 4,650 9,000 0
Acquisition of real estate 0 (140,730) 0
Net cash used in investing activities (14,142) (317,319) (16,275)
Financing activities      
Net advances to Penn National Gaming, Inc. 0 0 (6,982)
Cash contributions to Penn National Gaming, Inc. in connection with Spin-Off 0 0 (2,090,000)
Dividends paid (including the Purging Distribution in 2014) (251,732) (494,104) 0
Proceeds from exercise of options 29,686 29,931 1,431
Proceeds from issuance of long-term debt 0 291,950 2,350,000
Financing costs (9,500) (306) (48,147)
Payments of long-term debt (68,098) (32,024) 0
Distribution in connection with 2013 Pre-Spin tax matter agreement 0 (635) 0
Net cash (used in) provided by financing activities (299,644) (205,188) 206,302
Net increase (decrease) in cash and cash equivalents 5,902 (249,248) 270,659
Cash and cash equivalents at beginning of period 35,973 285,221 14,562
Cash and cash equivalents at end of period $ 41,875 $ 35,973 $ 285,221