Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2019

Accounting Policies [Abstract]

Schedule of Derivative Assets at Fair Value [Table Text Block]

The fair value of the derivative liabilities and asset was determined using a Monte Carlo simulation valuation approach with the following assumptions:

	March 31, 2019		December 31, 2018
	Derivative Liability - bet365	Contingent forward contract - bet365	Derivative Liability - bet365	Contingent forward contract - bet365
Equity value	$21.66	$21.66	$29.48	$29.48
Strike price	$20.00	$18.81	$20.00	$20.00
Expected term	3.08 years	2.76 years	3.46 years	3.13 years
Volatility	61%	61%	61%	62%
Risk-free rate	2.2%	2.2%	2.9%	2.9%
Dividend yield	—	—	—	—

The following table provides a roll forward of the aggregate fair values of the Company’s derivative liabilities and asset, for which fair value is determined using Level 3 inputs (in thousands):

	March 31, 2019
	Derivative Liability - bet365	Contingent forward contract -bet365
Balance as of December 31, 2018	$(879)	$1,865
Change in fair value	$(115)	$(1,761)
Balance as of March 31, 2019	$(994)	$104

Schedule of Derivative Instruments [Table Text Block]

The fair value of the derivative liability was determined using a Black Scholes valuation approach with the following assumptions:

	March 31, 2019	December 31, 2018
	Guaranty Liability - MHHA Horsemen	Guaranty Liability - MHHA Horsemen
Equity value	$10.05	$10.13
Strike price	$27.50	$27.50
Expected term	5.86 years	6.11 years
Volatility	68%	68%
Risk-free rate	2.2%	2.6%
Dividend yield	—	—

Disaggregation of Revenue

Complimentary food and beverage revenues and complimentary room revenues for the three-month periods ended March 31, 2019 and 2018, respectively, were as follows:

	Three Months Ended
	March 31, 2019	March 31, 2018
	(in thousands)
Complimentary food and beverage revenues	$5,152	$1,016
Complimentary room revenues	1,328	164

Schedule of Cash and Cash Equivalents

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same amounts shown in the statement of cash flows:

	March 31, 2019	December 31, 2018	March 31, 2018
	(in thousands)
Cash and cash equivalents	$13,958	$28,338	$29,632
Restricted cash	143	373	1,212
Restricted cash for Development Projects	15,889	21,039	33,799
Total cash, cash equivalents and restricted cash shown in the statement of cash flows	$29,990	$49,750	$64,643

Summary of the approximate number of common stock equivalents outstanding

The following table shows the approximate number of common stock equivalents outstanding at March 31, 2019 and 2018 that could potentially dilute basic loss per share in the future, but were not included in the calculation of diluted loss per share for the three-month periods ended March 31, 2019 and 2018, because their inclusion would have been anti-dilutive to the loss per common share:

	Outstanding at
	March 31, 2019	March 31, 2018
Unvested Restricted stock	19,000	151,000
Warrants	193,000	193,000
Restricted stock units ("RSUs")	443,000	73,000
Option matching rights	—	1,000
Options	—	12,000
Total	655,000	430,000

Fair Value, Assets Measured on Recurring Basis

The following table presents the carrying amount, fair values and classification level within the fair value hierarchy of financial instruments measured or disclosed at fair value on a recurring basis:

	March 31, 2019		December 31, 2018
	Carrying Amount	Fair Value	Carrying Amount	Fair Value	Level of Fair Value Hierarchy
Assets:	(in thousands)
Cash and cash equivalents	$13,958	$13,958	$28,338	$28,338	Level 1
Restricted cash	143	143	373	373	Level 1
Interest Rate Cap	19	19	143	143	Level 2
Restricted cash and cash equivalents for Development Projects	15,889	15,889	21,039	21,039	Level 1
Other assets:
Non-derivative financial asset - Series F Preferred Stock, redeemable	25,662	25,662	31,122	31,122	Level 2
Contingent forward contract - bet365	104	104	1,865	1,865	Level 3
Liabilities:
Term B Loan, net of discount	439,889	439,870	440,803	440,660	Level 2
Term A Loan	62,988	62,988	64,750	64,750	Level 2
Bangkok Bank Loan	20,000	20,000	20,000	20,000	Level 3
Revolving Credit Facility	15,000	15,000	15,000	15,000	Level 2
Long-term loan, related party, net of debt issuance costs	31,939	31,939	30,954	30,954	Level 3
Equipment loans	16,493	16,493	20,384	20,384	Level 3
Guaranty liability - MHHA agreement	2,306	2,306	2,300	2,300	Level 2
Derivative liability - bet365	994	994	879	879	Level 3

Fair Value, Liabilities Measured on Recurring Basis

he following table presents the carrying amount, fair values and classification level within the fair value hierarchy of financial instruments measured or disclosed at fair value on a recurring basis:

	March 31, 2019		December 31, 2018
	Carrying Amount	Fair Value	Carrying Amount	Fair Value	Level of Fair Value Hierarchy
Assets:	(in thousands)
Cash and cash equivalents	$13,958	$13,958	$28,338	$28,338	Level 1
Restricted cash	143	143	373	373	Level 1
Interest Rate Cap	19	19	143	143	Level 2
Restricted cash and cash equivalents for Development Projects	15,889	15,889	21,039	21,039	Level 1
Other assets:
Non-derivative financial asset - Series F Preferred Stock, redeemable	25,662	25,662	31,122	31,122	Level 2
Contingent forward contract - bet365	104	104	1,865	1,865	Level 3
Liabilities:
Term B Loan, net of discount	439,889	439,870	440,803	440,660	Level 2
Term A Loan	62,988	62,988	64,750	64,750	Level 2
Bangkok Bank Loan	20,000	20,000	20,000	20,000	Level 3
Revolving Credit Facility	15,000	15,000	15,000	15,000	Level 2
Long-term loan, related party, net of debt issuance costs	31,939	31,939	30,954	30,954	Level 3
Equipment loans	16,493	16,493	20,384	20,384	Level 3
Guaranty liability - MHHA agreement	2,306	2,306	2,300	2,300	Level 2
Derivative liability - bet365	994	994	879	879	Level 3

Schedule of Derivative Liabilities at Fair Value [Table Text Block]

The fair value of the derivative liabilities and asset was determined using a Monte Carlo simulation valuation approach with the following assumptions:

	March 31, 2019		December 31, 2018
	Derivative Liability - bet365	Contingent forward contract - bet365	Derivative Liability - bet365	Contingent forward contract - bet365
Equity value	$21.66	$21.66	$29.48	$29.48
Strike price	$20.00	$18.81	$20.00	$20.00
Expected term	3.08 years	2.76 years	3.46 years	3.13 years
Volatility	61%	61%	61%	62%
Risk-free rate	2.2%	2.2%	2.9%	2.9%
Dividend yield	—	—	—	—

The following table provides a roll forward of the aggregate fair values of the Company’s derivative liabilities and asset, for which fair value is determined using Level 3 inputs (in thousands):

	March 31, 2019
	Derivative Liability - bet365	Contingent forward contract -bet365
Balance as of December 31, 2018	$(879)	$1,865
Change in fair value	$(115)	$(1,761)
Balance as of March 31, 2019	$(994)	$104