XML 16 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
REVENUES:        
Casino $ 367,930 $ 184,604 $ 825,833 $ 532,141
Pari-mutuel commissions 5,162 3,527 9,945 7,104
Food and beverage 56,356 38,029 132,307 108,735
Hotel 38,536 28,001 85,473 73,843
Other 15,052 12,095 35,196 33,994
Gross revenues 483,036 266,256 1,088,754 755,817
Less-promotional allowances (38,162) (24,691) (87,776) (69,371)
Net operating revenues 444,874 241,565 1,000,978 686,446
EXPENSES:        
Casino 184,790 103,272 428,543 299,908
Pari-mutuel commissions 4,601 3,506 9,793 7,761
Food and beverage 26,457 21,046 66,711 61,557
Hotel 10,138 7,956 24,767 23,064
Other 7,792 7,298 18,689 19,990
Marketing and promotions 24,634 11,323 54,845 30,664
General and administrative 68,585 34,094 155,778 98,129
Corporate 7,718 4,426 21,734 15,684
Depreciation and amortization 29,122 15,810 69,635 47,597
Total operating expenses 363,837 208,731 850,495 604,354
GAIN (LOSS) ON SALE OF ASSET OR DISPOSAL OF PROPERTY 4 25 (51) (740)
ACQUISITION CHARGES (2,094) (4,750) (89,172) (5,326)
EQUITY IN LOSS OF UNCONSOLIDATED AFFILIATE (23)   (305)  
OPERATING (LOSS) INCOME 78,924 28,109 60,955 76,026
OTHER EXPENSE:        
Interest expense, net (29,183) (12,589) (69,380) (38,375)
Loss on early retirement of debt, net (10,030)   (37,347) (155)
Total other expense (39,213) (12,589) (106,727) (38,530)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 39,711 15,520 (45,772) 37,496
(PROVISION) BENEFIT FOR INCOME TAXES (11,595) (5,838) 27,625 (13,654)
INCOME (LOSS) FROM CONTINUING OPERATIONS 28,116 9,682 (18,147) 23,842
INCOME FROM DISCONTINUED OPERATIONS, NET OF TAXES 1,438   2,393  
NET INCOME (LOSS) $ 29,554 $ 9,682 $ (15,754) $ 23,842
Income (loss) per common share attributable to common stockholders - basic:        
Income (loss) from continuing operations $ 0.36 $ 0.21 $ (0.28) $ 0.51
Income from discontinued operations, net of income taxes 0.02   0.03  
Net income (loss) attributable to common stockholders 0.38 0.21 (0.25) 0.51
Income (loss) per common share attributable to common stockholders - diluted:        
Income (loss) from continuing operations 0.36 0.20 (0.28) 0.50
Income from discontinued operations, net of income taxes 0.02   0.03  
Net income (loss) attributable to common stockholders $ 0.38 $ 0.20 $ (0.25) $ 0.50
Weighted average number of shares outstanding:        
Weighted Average Basic Shares Outstanding 76,902,070 47,193,120 63,821,705 47,106,706
Weighted Average Diluted Shares Outstanding 77,959,689 47,834,644 64,768,174 47,737,592