SEGMENT REPORTING |
SEGMENT REPORTING As of June 30, 2019, the Company has five operating segments: Twin River Casino Hotel, Hard Rock Biloxi, the Tiverton Casino Hotel, Dover Downs, and Mile High USA. Newport Grand, which represented an immaterial operating segment and operated up until its closing in August 2018, has been aggregated with Twin River Casino Hotel and Tiverton Casino Hotel to form the Rhode Island reportable segment. The Company’s Biloxi reportable segment includes only Hard Rock Biloxi. The Company is evaluating whether Dover Downs will be aggregated into one of the Company’s existing reportable segments or represent its own reportable segment. As of June 30, 2019, and reflected in the table below, the Company reported Dover Downs separately under the “Delaware” segment, which includes only Dover Downs. The “Other” category includes Mile High USA, an immaterial operating segment. "Other" also includes interest expense for the Company and certain corporate operating expenses that are not allocated to the other segments, which include, among other expenses, share-based compensation, merger and acquisition costs, and certain non-recurring charges. The Company’s operations are all within the United States. The Company does not have any revenues from any individual customers that exceed 10% of total reported revenues. The following table shows revenues, income (loss), and identifiable assets for each of the Company’s reportable segments and reconciles these to amounts shown in the Company’s condensed consolidated financial statements. | | | | | | | | | | | | | | | | | | | | | (in thousands) | Rhode Island | | Delaware | | Biloxi | | Other | | Total | Three Months Ended June 30, 2019 | |
| | | | |
| | |
| | |
| Total Revenue | $ | 82,856 |
| | $ | 25,751 |
| | $ | 32,118 |
| | $ | 2,493 |
| | $ | 143,218 |
| Income (loss) from operations | 31,552 |
| | 1,862 |
| | 5,655 |
| | (5,223 | ) | | 33,846 |
| Income (loss) before provision for income taxes | 29,560 |
| | 1,843 |
| | 5,663 |
| | (13,741 | ) | | 23,325 |
| Depreciation and amortization | 4,546 |
| | 1,284 |
| | 2,359 |
| | 44 |
| | 8,233 |
| Interest expense | 955 |
| | 59 |
| | — |
| | 8,952 |
| | 9,966 |
| Capital expenditures | 6,694 |
| | 809 |
| | 3,565 |
| | 112 |
| | 11,180 |
| Goodwill | 83,101 |
| | 711 |
| | 48,934 |
| | — |
| | 132,746 |
| Total assets | 588,224 |
| | 137,914 |
| | 268,092 |
| | 235,234 |
| | 1,229,464 |
| | | | | | | | | | | Three Months Ended June 30, 2018 | | | | | | | | | | Total Revenue | $ | 75,935 |
| | n/a |
| | $ | 32,016 |
| | $ | 2,864 |
| | $ | 110,815 |
| Income (loss) from operations | 32,776 |
| | n/a |
| | 5,914 |
| | (7,266 | ) | | 31,424 |
| Income (loss) before provision for income taxes | 30,802 |
| | n/a |
| | 5,914 |
| | (10,360 | ) | | 26,356 |
| Depreciation and amortization | 2,778 |
| | n/a |
| | 2,319 |
| | 38 |
| | 5,135 |
| Interest expense | 1,975 |
| | n/a |
| | 4 |
| | 3,127 |
| | 5,106 |
| Capital expenditures | 33,634 |
| | n/a |
| | 1,811 |
| | 493 |
| | 35,938 |
| Goodwill | 83,101 |
| | n/a |
| | 48,934 |
| | — |
| | 132,035 |
| Total assets | 393,606 |
| | n/a |
| | 246,344 |
| | 106,379 |
| | 746,329 |
|
| | | | | | | | | | | | | | | | | | | | | (in thousands) | Rhode Island | | Delaware | | Biloxi | | Other | | Total | Six months ended June 30, 2019 | |
| | | | |
| | |
| | |
| Total Revenue | $ | 168,980 |
| | $ | 27,275 |
| | $ | 63,149 |
| | $ | 4,445 |
| | $ | 263,849 |
| Income (loss) from operations | 62,871 |
| | 1,862 |
| | 11,069 |
| | (11,649 | ) | | 64,153 |
| Income (loss) before provision for income taxes | 58,567 |
| | 1,843 |
| | 11,081 |
| | (24,897 | ) | | 46,594 |
| Depreciation and amortization | 8,961 |
| | 1,284 |
| | 4,666 |
| | 91 |
| | 15,002 |
| Interest expense | 3,275 |
| | 59 |
| | — |
| | 13,683 |
| | 17,017 |
| Capital expenditures | 13,597 |
| | 809 |
| | 4,148 |
| | 125 |
| | 18,679 |
| Goodwill | 83,101 |
| | 711 |
| | 48,934 |
| | — |
| | 132,746 |
| Total assets | 588,224 |
| | 137,914 |
| | 268,092 |
| | 235,234 |
| | 1,229,464 |
| | | | | | | | | | | Six months ended June 30, 2018 | | | | | | | | | | Total Revenue | $ | 148,308 |
| | n/a |
| | $ | 62,024 |
| | $ | 5,289 |
| | $ | 215,621 |
| Income (loss) from operations | 58,310 |
| | n/a |
| | 11,604 |
| | (13,613 | ) | | 56,301 |
| Income (loss) before provision for income taxes | 53,869 |
| | n/a |
| | 11,602 |
| | (19,937 | ) | | 45,534 |
| Depreciation and amortization | 5,641 |
| | n/a |
| | 4,632 |
| | 74 |
| | 10,347 |
| Interest expense | 4,443 |
| | n/a |
| | 8 |
| | 6,394 |
| | 10,845 |
| Capital expenditures | 51,501 |
| | n/a |
| | 3,080 |
| | 23,867 |
| | 78,448 |
| Goodwill | 83,101 |
| | n/a |
| | 48,934 |
| | — |
| | 132,035 |
| Total assets | 393,606 |
| | n/a |
| | 246,344 |
| | 106,379 |
| | 746,329 |
|
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