Segment Information

3 Months Ended

Mar. 31, 2016

Segment Information

Segment Information

Note 12. Segment Information

The following table sets forth, for the periods indicated, certain operating data for our reportable segments. Management views each of our properties as an operating segment. Operating segments are aggregated based on their similar economic characteristics, types of customers, types of services and products provided, and their management and reporting structure. The Company’s principal operating activities occur in three geographic regions: Nevada, Louisiana and parts of the eastern United States. The Company has aggregated its operating segments into three reportable segments: Eldorado Reno, Silver Legacy and Circus Reno as Nevada, Eldorado Shreveport as Louisiana, and Scioto Downs, Presque Isle and Mountaineer as Eastern.

	Three months ended
	March 31,
	2016		2015
	(in thousands, unaudited)
Revenues and expenses
Nevada:
Net operating revenues	$	72,771	$	23,753
Expenses, excluding depreciation and corporate		(61,777)		(21,322)
Gain on sale or disposal of property		34		—
Equity in loss of unconsolidated affiliate		—		(518)
Other		—		1
Depreciation		(5,463)		(1,933)
Operating income (loss)—Nevada	$	5,565	$	(19)
Louisiana:
Net operating revenues	$	34,442	$	34,634
Expenses, excluding depreciation and amortization		(25,995)		(27,516)
Gain on sale or disposal of property		1		—
Depreciation and amortization		(1,946)		(1,919)
Operating income—Louisiana	$	6,502	$	5,199
Eastern:
Net operating revenues	$	106,353	$	109,064
Expenses, excluding depreciation, amortization and corporate		(83,974)		(87,299)
Gain on sale or disposal of property		36		1
Depreciation and amortization		(8,684)		(10,525)
Operating income—Eastern	$	13,731	$	11,241
Corporate:
Corporate expenses	$	(6,904)	$	(4,160)
Acquisition charges		(520)		(84)
Other		—		(1)
Depreciation and amortization		(111)		(92)
Operating loss—Corporate	$	(7,535)	$	(4,337)
Total Reportable Segments
Net operating revenues	$	213,566	$	167,451
Expenses, excluding depreciation and amortization		(178,650)		(140,297)
Gain on sale or disposal of property		71		1
Equity in loss of unconsolidated affiliate		—		(518)
Acquisition charges		(520)		(84)
Depreciation and amortization		(16,204)		(14,469)
Operating income—Total Reportable Segments	$	18,263	$	12,084
Reconciliations to Consolidated Net Income (Loss):
Operating Income — Total Reportable Segments	$	18,263	$	12,084
Unallocated income and expenses:
Interest expense		(12,991)		(17,232)
Loss on early retirement of debt		(66)		—
Provision for income taxes		(1,836)		(1,016)
Net income (loss)	$	3,370	$	(6,164)

	March 31,
	2016		2015
	(in thousands, unaudited)
Capital Expenditures
Nevada	$	2,842	$	1,389
Louisiana		1,350		620
Eastern (1)		5,103		5,486
Corporate		1,329		—
Total	$	10,624	$	7,495

(1) Gross of West Virginia reimbursements

	As of		As of
	March 31,		December 31,
	2016		2015
	(unaudited)
	(in thousands)
Total Assets
Nevada	$	358,406	$	376,760
Louisiana		131,514		135,403
Eastern		859,318		883,344
Corporate		450,819		495,202
Eliminating entries (1)		(513,989)		(565,701)
Total	$	1,286,068	$	1,325,008

(1) Reflects the following eliminations for the periods indicated:

Reclass deferred tax assets against deferred tax liabilities	$	—	$	1,080
Accrued interest on the senior notes		4,375		11,521
Net investment in MTR		5,000		5,000
Net investment in Silver Legacy/Circus Circus		88,314		88,314
Intercompany receivables/payables		351,318		394,804
Net investment in and advances to Silver Legacy		56,500		56,500
Net investment in and advances to Eldorado Shreveport		8,482		8,482
	$	513,989	$	565,701