Acquisitions, Investments, Dispositions and Divestitures

Acquisitions and Investments

In January 2014, we acquired the land and non-gaming assets of the Atlantic Club in Atlantic City, New Jersey for $15.0 million, which was included in land within Property and Equipment, net at March 31, 2014. See Note 6, "Property and Equipment, net." We are actively pursuing a sale of these assets.

Dispositions and Divestitures

Harrah's Tunica, Mississippi

During the three months ended March 31, 2014, we announced our plans to permanently close the Harrah’s Tunica casino. As a result of this decision, we determined an impairment analysis was necessary. We completed our impairment analysis and determined the fair value of the related assets under the market approach. As a result of this analysis, we recorded intangible and tangible asset impairment charges totaling $68.0 million during the three months ended March 31, 2014.

Other Dispositions

Golden Nugget - During the three months ended March 31, 2014, we permanently closed the Golden Nugget casino in London. As a result, we recorded charges of $1.7 million related to the impairment of intangible and tangible assets and $13.1 million related to accrued exit costs. We have presented the operations of the Golden Nugget casino as discontinued operations in the Consolidated Condensed Statements of Operations for the three months ended March 31, 2014 and 2013.

Claridge Hotel Tower - In October 2013 we entered into an agreement to sell the Claridge Hotel Tower, which was part of the Bally's Atlantic City asset group, for $12.5 million, plus customary closing adjustments. We received these proceeds in February 2014 upon the transaction closing. The Claridge Hotel Tower assets of $11.9 million were classified as assets held for sale as of December 31, 2013.

Discontinued Operations

	Three Months Ended March 31,
(In millions)	2014			2013
Net revenues
Golden Nugget	$	1.3		$	2.1
Harrah's St. Louis	—			—
Macau	—			1.0
Alea Leeds	—			0.7
Total net revenues	$	1.3		$	3.8

Pre-tax income/(loss) from operations
Golden Nugget	$	(15.4	)	$	(1.0	)
Harrah's St. Louis	—			(0.7		)
Macau	—			(20.7		)
Alea Leeds	(0.5		)	(22.4		)
Total pre-tax income/(loss) from discontinued operations	$	(15.9	)	$	(44.8	)

Income/(loss), net of income taxes
Golden Nugget	$	(15.4	)	$	(1.0	)
Harrah's St. Louis	—			(0.4		)
Macau	—			(18.2		)
Alea Leeds	(0.5		)	(22.4		)
Total income/(loss) from discontinued operations, net of income taxes	$	(15.9	)	$	(42.0	)