Revenue Recognition

9 Months Ended

Sep. 30, 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				For the nine months
	ended September 30,				ended September 30,
Amounts in thousands	2023		2022		2023		2022
Revenue from contracts with customers	$	161,179	$	112,552	$	406,448	$	326,776
Cost recovery income		—		—		3,501		1,938
Century Casino Calgary sale earn out revenue		341		—		1,587		—
Total revenue	$	161,520	$	112,552	$	411,536	$	328,714

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 September 30, 2023
Amounts in thousands		United States		Canada		Poland		Corporate and Other		Total
Gaming	$	75,711	$	12,407	$	23,114	$	—	$	111,232
Pari-mutuel, sports betting and iGaming		3,178		2,917		—		—		6,095
Hotel		15,791		146		—		—		15,937
Food and beverage		14,242		4,012		238		—		18,492
Other		7,939		1,439		45		—		9,423
Net operating revenue	$	116,861	$	20,921	$	23,397	$	—	$	161,179

	For the three months ended September 30, 2022
Amounts in thousands		United States		Canada		Poland		Corporate and Other		Total
Gaming	$	60,150	$	11,841	$	21,478	$	36	$	93,505
Pari-mutuel, sports betting and iGaming		2,965		3,102		—		—		6,067
Hotel		2,485		134		—		—		2,619
Food and beverage		3,319		3,509		203		—		7,031
Other		1,799		1,479		52		—		3,330
Net operating revenue	$	70,718	$	20,065	$	21,733	$	36	$	112,552

‎

	For the nine months ended September 30, 2023
Amounts in thousands		United States		Canada		Poland		Corporate and Other		Total
Gaming	$	200,089	$	34,606	$	71,617	$	61	$	306,373
Pari-mutuel, sports betting and iGaming		6,847		7,690		—		—		14,537
Hotel		30,305		389		—		—		30,694
Food and beverage		25,922		9,449		707		—		36,078
Other		14,473		4,128		165		—		18,766
Net operating revenue	$	277,636	$	56,262	$	72,489	$	61	$	406,448

	For the nine months ended September 30, 2022
Amounts in thousands		United States		Canada		Poland		Corporate and Other		Total
Gaming	$	179,524	$	33,728	$	64,481	$	120	$	277,853
Pari-mutuel, sports betting and iGaming		6,300		8,455		—		—		14,755
Hotel		6,895		339		—		—		7,234
Food and beverage		9,314		8,171		610		—		18,095
Other		4,242		4,412		174		11		8,839
Net operating revenue	$	206,275	$	55,105	$	65,265	$	131	$	326,776

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 $3.0 million and $1.8 million for the three and nine months ended September 30, 2023, respectively, and $1.1 million and $1.3 million for the three and nine months ended September 30, 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 September 30, 2023				ended September 30, 2022
Amounts in thousands	Receivables		Contract Liabilities		Receivables		Contract Liabilities
Opening	$	652	$	3,706	$	749	$	2,842
Closing		1,080		4,702		1,299		2,607
Increase/(Decrease)	$	428	$	996	$	550	$	(235)
	For the nine months				For the nine months
	ended September 30, 2023				ended September 30, 2022
Amounts in thousands	Receivables		Contract Liabilities		Receivables		Contract Liabilities
Opening	$	1,351	$	2,417	$	1,269	$	2,986
Closing		1,080		4,702		1,299		2,607
(Decrease)/Increase	$	(271)	$	2,285	$	30	$	(379)

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.