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Segment Information (Tables)
 12 Months Ended
Dec. 31, 2016
Segment Reporting [Abstract]  
Net Revenue From External Customers and Intercompany Revenue From Each Operating Segment
The tables below present net revenue from external customers and intercompany revenue from each of our operating segments, Adjusted EBITDA by segment and reconciles Comprehensive Income to Adjusted EBITDA:
 
Years Ended December 31,
(in millions)
2016
 
2015
 
2014
Net revenue from external customers:
 
 
 
 
 
Racing:
 
 
 
 
 
Churchill Downs
$
155.2

 
$
151.1

 
$
143.2

Arlington
55.3

 
54.4

 
60.3

Fair Grounds
38.0

 
39.8

 
38.6

Calder
2.6

 
2.7

 
19.3

Total Racing
251.1

 
248.0

 
261.4

Casinos:
 
 
 
 
 
Oxford Casino
84.6

 
80.4

 
76.5

Riverwalk Casino
46.1

 
49.8

 
50.1

Harlow’s Casino
48.4

 
49.0

 
50.2

Calder Casino
79.1

 
77.4

 
77.0

Fair Grounds Slots
36.9

 
39.0

 
40.8

VSI
36.9

 
36.9

 
33.7

Saratoga
0.8

 
0.4

 
—

Total Casinos
332.8

 
332.9

 
328.3

TwinSpires
220.6

 
200.2

 
191.0

Big Fish Games:
 
 
 
 
 
Social casino
182.5

 
193.4

 
7.6

Casual and mid-core free-to-play
212.7

 
125.3

 
2.1

Premium
91.0

 
95.0

 
4.2

Total Big Fish Games
486.2

 
413.7

 
13.9

Other Investments
16.9

 
16.6

 
16.5

Corporate
1.0

 
0.9

 
1.1

Net revenue from external customers
$
1,308.6

 
$
1,212.3

 
$
812.2

Intercompany net revenue:
 
 
 
 
 
Racing:
 
 
 
 
 
Churchill Downs
$
10.0

 
$
7.8

 
$
7.0

Arlington
5.5

 
5.1

 
5.8

Fair Grounds
1.5

 
1.3

 
1.1

Calder
—

 
—

 
0.7

Total Racing
17.0

 
14.2

 
14.6

TwinSpires
1.3

 
1.1

 
1.0

Other Investments
3.9

 
3.5

 
4.1

Eliminations
(22.2
)
 
(18.8
)
 
(19.7
)
Intercompany net revenue
$
—

 
$
—

 
$
—
Schedule of Segment Reporting Information
 
Years Ended December 31,
(in millions)
2016
 
2015
 
2014
Reconciliation of Comprehensive Income to Adjusted EBITDA:
 
 
 
 
 
 
 
 
 
 
 
Comprehensive income
$
107.5

 
$
64.7

 
$
46.3

Foreign currency translation, net of tax
(0.2
)
 
0.5

 
0.1

Net change in pension benefits, net of tax
0.8

 
—

 
—

Net income
108.1

 
65.2

 
46.4

Additions:
 
 
 
 
 
Depreciation and amortization
108.6

 
109.7

 
68.3

Interest expense
43.7

 
28.6

 
20.8

Income tax provision
60.0

 
46.9

 
30.1

EBITDA
$
320.4

 
$
250.4

 
$
165.6

 
 
 
 
 
 
Adjustments to EBITDA:
 
 
 
 
 
Selling, general and administrative:
 
 
 
 
 
Stock-based compensation expense
18.9

 
13.8

 
11.9

Other charges
2.5

 
—

 
(0.4
)
TwinSpires operating expense
—

 
—

 
3.2

Other income, expense:
 
 
 
 
 
Interest, depreciation and amortization expense related to equity investments
10.0

 
8.5

 
8.7

Other charges and recoveries, net
0.5

 
(5.8
)
 
2.6

Acquisition expense, net
3.4

 
21.7

 
10.2

Gain on Calder land sale
(23.7
)
 
—

 
—

Calder exit costs
2.5

 
13.9

 
2.3

Total adjustments to EBITDA
14.1

 
52.1

 
38.5

Adjusted EBITDA
$
334.5

 
$
302.5

 
$
204.1

 
 
 
 
 
 
Adjusted EBITDA by segment:
 
 
 
 
 
Racing
$
79.7

 
$
71.8

 
$
61.2

Casinos
125.8

 
114.9

 
107.2

TwinSpires
55.2

 
48.6

 
39.8

Big Fish Games
79.1

 
68.5

 
(0.7
)
Other Investments
2.7

 
2.9

 
1.6

Corporate
(8.0
)
 
(4.2
)
 
(5.0
)
Adjusted EBITDA
$
334.5

 
$
302.5

 
$
204.1

Adjusted EBITDA by segment is comprised of the following:
 
Year Ended December 31, 2016
(in millions)
Racing
 
Casinos
 
TwinSpires
 
Big Fish
Games
 
Other Investments
 
Corporate
Net revenue
$
268.1

 
$
332.8

 
$
221.9

 
$
486.2

 
$
20.8

 
$
1.0

 
 
 
 
 
 
 
 
 
 
 
 
Taxes & purses
(64.2
)
 
(110.9
)
 
(11.7
)
 
—

 
—

 
—

Platform & development fees
—

 
—

 
—

 
(179.9
)
 
—

 
—

Marketing & advertising
(4.6
)
 
(12.7
)
 
(6.3
)
 
(127.9
)
 
—

 
—

Salaries & benefits
(40.9
)
 
(50.8
)
 
(9.4
)
 
(25.0
)
 
(10.9
)
 
—

Content expense
(15.6
)
 
—

 
(107.6
)
 
—

 
—

 
—

SG&A expense
(16.2
)
 
(21.2
)
 
(11.9
)
 
(18.5
)
 
(3.4
)
 
(8.6
)
Research & development
—

 
—

 
—

 
(39.0
)
 
—

 
—

Other operating expense
(47.4
)
 
(39.1
)
 
(19.8
)
 
(15.9
)
 
(4.1
)
 
(0.6
)
Other income (expense)
0.5

 
27.7

 
—

 
(0.9
)
 
0.3

 
0.2

 
 
 
 
 
 
 
 
 
 
 
 
Adjusted EBITDA
$
79.7

 
$
125.8

 
$
55.2

 
$
79.1

 
$
2.7

 
$
(8.0
)
 
Year Ended December 31, 2015
(in millions)
Racing
 
Casinos
 
TwinSpires
 
Big Fish
Games
 
Other Investments
 
Corporate
Net revenue
$
262.2

 
$
332.9

 
$
201.3

 
$
413.7

 
$
20.1

 
$
0.9

 
 
 
 
 
 
 
 
 
 
 
 
Taxes & purses
(63.6
)
 
(109.9
)
 
(10.6
)
 
—

 
—

 
—

Platform & development fees
—

 
—

 
—

 
(143.6
)
 
—

 
—

Marketing & advertising
(6.1
)
 
(12.4
)
 
(4.8
)
 
(107.7
)
 
—

 
—

Salaries & benefits
(39.2
)
 
(49.7
)
 
(9.9
)
 
(22.3
)
 
(11.1
)
 
—

Content expense
(14.6
)
 
—

 
(97.9
)
 
—

 
—

 
—

SG&A expense
(16.6
)
 
(24.1
)
 
(11.5
)
 
(16.8
)
 
(2.5
)
 
(6.3
)
Research & development
—

 
—

 
—

 
(39.4
)
 
—

 
—

Other operating expense
(50.9
)
 
(41.3
)
 
(18.0
)
 
(14.8
)
 
(3.8
)
 
1.1

Other income (expense)
0.6

 
19.4

 
—

 
(0.6
)
 
0.2

 
0.1

 
 
 
 
 
 
 
 
 
 
 
 
Adjusted EBITDA
$
71.8

 
$
114.9

 
$
48.6

 
$
68.5

 
$
2.9

 
$
(4.2
)
 
Year Ended December 31, 2014
(in millions)
Racing
 
Casinos
 
TwinSpires
 
Big Fish
Games
 
Other Investments
 
Corporate
Net revenue
$
276.0

 
$
328.3

 
$
192.0

 
$
13.9

 
$
20.6

 
$
1.1

 
 
 
 
 
 
 
 
 
 
 
 
Taxes & purses
(72.7
)
 
(108.0
)
 
(9.2
)
 
—

 
—

 
—

Platform & development fees
—

 
—

 
—

 
(5.1
)
 
—

 
—

Marketing & advertising
(6.1
)
 
(12.5
)
 
(4.7
)
 
(5.7
)
 
—

 
—

Salaries & benefits
(45.1
)
 
(49.1
)
 
(11.5
)
 
(2.6
)
 
(11.8
)
 
(0.2
)
Content expense
(19.0
)
 
—

 
(92.6
)
 
—

 
—

 
—

SG&A expense
(18.4
)
 
(25.5
)
 
(13.0
)
 
(0.8
)
 
(2.8
)
 
(5.3
)
Research & development
—

 
—

 
—

 
—

 
—

 
—

Other operating expense
(54.1
)
 
(43.5
)
 
(21.2
)
 
(0.4
)
 
(4.5
)
 
(0.7
)
Other income (expense)
0.6

 
17.5

 
—

 
—

 
0.1

 
0.1

 
 
 
 
 
 
 
 
 
 
 
 
Adjusted EBITDA
$
61.2

 
$
107.2

 
$
39.8

 
$
(0.7
)
 
$
1.6

 
$
(5.0
)
The table below presents information about earnings (losses) from equity investments, net included in our reported segments:
 
Years Ended December 31,
(in millions)
2016
 
2015
 
2014
Casinos
$
17.4

 
$
10.9

 
$
8.9

TwinSpires
—

 
—

 
(0.1
)
Other Investments
—

 
0.3

 
(2.5
)
 
$
17.4

 
$
11.2

 
$
6.3
Schedule of Total Assets and Capital Expenditures by Operating Segment
The table below presents total asset information for each of our operating segments:
 
As of December 31,
(in millions)
2016
 
2015
Total assets:
 
 
 
Racing
$
454.6

 
$
437.1

Casinos
628.7

 
631.3

TwinSpires
209.9

 
202.4

Big Fish Games
893.8

 
947.1

Other Investments
11.1

 
12.2

Corporate
56.3

 
47.3

 
$
2,254.4

 
$
2,277.4

The table below presents total capital expenditures for each of our operating segments:
 
Years Ended December 31,
(in millions)
2016
 
2015
 
2014
Capital expenditures:
 
 
 
 
 
Racing
$
26.1

 
$
12.3

 
$
33.9

Casinos
13.9

 
18.8

 
7.7

TwinSpires
7.0

 
4.3

 
5.8

Big Fish Games
5.5

 
6.4

 
0.1

Other Investments
1.0

 
0.8

 
5.3

Corporate
1.2

 
0.9

 
1.7

 
$
54.7

 
$
43.5

 
$
54.5