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Revenue Recognition
3 Months Ended
Mar. 31, 2023
Revenue Recognition [Abstract]  
Revenue Recognition 11.REVENUE RECOGNITION

The Company derives revenue and other income from contracts with customers and financial instruments. A breakout of the Company’s derived revenue and other income is presented in the table below.

For the three months

ended March 31,

Amounts in thousands

2023

2022

Revenue from contracts with customers

$

108,508

$

103,103

Cost recovery income

3,501

1,938

Century Casino Calgary sale earn out revenue

574

Total revenue

$

112,583

$

105,041


The Company operates gaming establishments as well as related lodging, restaurant, horse racing (including off-track betting), sports betting, iGaming, and entertainment facilities around the world. The Company generates revenue at its properties by providing the following types of products and services: gaming, pari-mutuel and sports betting, iGaming, hotel, food and beverage, and other. Disaggregation of the Company’s revenue from contracts with customers by type of revenue and reportable segment is presented in the tables below.

For the three months ended March 31, 2023

Amounts in thousands

United States

Canada

Poland

Corporate and Other

Total

Gaming

$

58,393

$

10,598

$

25,249

$

57

$

94,297

Pari-mutuel, sports betting and iGaming

1,282

2,103

3,385

Hotel

2,403

119

2,522

Food and beverage

3,110

2,426

231

5,767

Other

1,181

1,257

99

2,537

Net operating revenue

$

66,369

$

16,503

$

25,579

$

57

$

108,508

For the three months ended March 31, 2022

Amounts in thousands

United States

Canada

Poland

Corporate and Other

Total

Gaming

$

58,245

$

9,976

$

21,625

$

30

$

89,876

Pari-mutuel, sports betting and iGaming

963

2,467

3,430

Hotel

1,990

84

2,074

Food and beverage

2,934

1,914

190

5,038

Other

1,116

1,558

9

2

2,685

Net operating revenue

$

65,248

$

15,999

$

21,824

$

32

$

103,103

For the majority of the Company’s contracts with customers, payment is made in advance of the services and contracts are settled on the same day the sale occurs with revenue recognized on the date of the sale. For contracts that are not settled, a contract liability is created. The expected duration of the performance obligation is less than one year.

The amount of revenue recognized that was included in the opening contract liability balance was $1.1 million for each of the three months ended March 31, 2023 and 2022, respectively. This revenue consists primarily of the Company’s deferred gaming revenue from player points earned through play at the Company’s casinos located in the United States. Activity in the Company’s receivables and contract liabilities is presented in the tables below.

For the three months

For the three months

ended March 31, 2023

ended March 31, 2022

Amounts in thousands

Receivables

Contract Liabilities

Receivables

Contract Liabilities

Opening

$

1,351

$

2,417

$

1,269

$

2,986

Closing

638

2,185

586

2,937

Decrease

$

(713)

$

(232)

$

(683)

$

(49)

Receivables are included in accounts receivable and contract liabilities are included in accrued liabilities on the Company’s condensed consolidated balance sheets.

Substantially all of the Company’s contracts and contract liabilities have an original duration of one year or less. The Company applies the practical expedient for such contracts and does not consider the effects of the time value of money. Further, because of the short duration of these contracts, the Company has not disclosed the transaction price for the remaining performance obligations as of the end of each reporting period or when the Company expects to recognize this revenue.