XML 32 R19.htm IDEA: XBRL DOCUMENT v3.19.2
SEGMENT REPORTING
6 Months Ended
Jun. 30, 2019
Segment Reporting [Abstract]  
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