Certain of our wholly-owned subsidiaries have fully and unconditionally guaranteed on a joint and several basis, the payment of all obligations under our 7% Senior Notes due 2023, 6% Senior Notes due 2025, 6% Senior Notes due 2026 and Credit Facility.

The following wholly-owned subsidiaries of the Company are guarantors, on a joint and several basis, under the 7% Senior Notes due 2023, 6% Senior Notes due 2025, 6% Senior Notes due 2026 and Credit Facility: Isle of Capri Casinos LLC; Eldorado Holdco LLC; Eldorado Resorts LLC; Eldorado Shreveport #1, LLC; Eldorado Shreveport #2, LLC; Eldorado Casino Shreveport Joint Venture; MTR Gaming Group, Inc.; Old PID, Inc. (f/k/a Presque Isle Downs, Inc.); Scioto Downs, Inc.; Eldorado Limited Liability Company; Circus and Eldorado Joint Venture, LLC; CC-Reno, LLC; CCR Newco, LLC; Black Hawk Holdings, L.L.C.; IC Holdings Colorado, Inc.; CCSC/Blackhawk, Inc.; Isle of Capri Black Hawk, L.L.C.; IOC-Black Hawk Distribution Company, LLC; IOC-Black Hawk County, Inc.; Isle of Capri Bettendorf, L.C.; PPI, Inc.; Pompano Park Holdings, L.L.C.; IOC-Lula, Inc.; IOC-Kansas City, Inc.; IOC-Boonville, Inc.; IOC-Vicksburg, Inc.; IOC-Vicksburg, L.L.C.; Rainbow Casino-Vicksburg Partnership, L.P.; IOC Holdings L.L.C.; St. Charles Gaming Company, L.L.C; Elgin Riverboat Resort-Riverboat Casino; Elgin Holdings I LLC; Elgin Holdings II LLC, PPI Development Holdings LLC; PPI Development LLC; Tropicana Entertainment, Inc.; New Tropicana Holdings, Inc.; New Tropicana OpCo, Inc.; TropWorld Games LLC; TEI R7 Investment LLC; Tropicana St. Louis LLC; TEI (ST. LOUIS RE), LLC; TEI (STLH), LLC; TEI (ES), LLC; Aztar Riverboat Holding Company, LLC; Aztar Indiana Gaming Company, LLC ; New Jazz Enterprises, LLC; Catfish Queen Partnership in Commendam; Centroplex Centre Convention Hotel, L.L.C.; Columbia Properties Tahoe, LLC; MB Development, LLC; Lighthouse Point, LLC; Tropicana Atlantic City Corp.; Tropicana St. Louis RE LLC, Tropicana Laughlin, LLC, ELDO FIT, LLC and CRS ANNEX, LLC. Each of the subsidiaries’ guarantees is joint and several with the guarantees of the other subsidiaries.

The consolidating condensed balance sheet as of December 31, 2019 is as follows:

Balance Sheet	Eldorado Resorts, Inc. (Parent Obligor)			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Consolidating and Eliminating Entries			Eldorado Resorts, Inc. Consolidated
	(in thousands)
Current assets	$	79,522		$	516,500	$	21,725		$	(13,104	)	$	604,643
Intercompany receivables		(562,128	)		796,390		(1,786	)		(232,476	)		—
Investment in and advances to unconsolidated affiliates		127,062			8,769		(3	)		—			135,828
Investments in subsidiaries		3,854,405			—		—			(3,854,405	)		—
Property and equipment, net		17,552			2,596,344		628			—			2,614,524
Other assets		111,476			2,228,933		15,210			(70,061	)		2,285,558
Total assets	$	3,627,889		$	6,146,936	$	35,774		$	(4,170,046	)	$	5,640,553

Current liabilities	$	162,158		$	524,346	$	15,046		$	(13,104	)	$	688,446
Intercompany payables		232,473			3		—			(232,476	)		—
Long-term financing obligation to GLPI		—			970,519		—			—			970,519
Long-term debt, less current maturities		1,949,398			375,143		—			—			2,324,541
Deferred income tax liabilities		320			267,029		(22	)		(70,061	)		197,266
Other accrued liabilities		166,660			175,864		—			—			342,524
Stockholders’ equity		1,116,880			3,834,032		20,750			(3,854,405	)		1,117,257
Total liabilities and stockholders’ equity	$	3,627,889		$	6,146,936	$	35,774		$	(4,170,046	)	$	5,640,553

The consolidating condensed balance sheet as of December 31, 2018 is as follows:

Balance Sheet	Eldorado Resorts, Inc. (Parent Obligor)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating and Eliminating Entries			Eldorado Resorts, Inc. Consolidated
	(in thousands)
Current assets	$	48,268	$	497,309	$	27,619	$	—		$	573,196
Intercompany receivables		—		7,831		28,042		(35,873	)		—
Investment in and advances to unconsolidated affiliates		—		1,892		—		—			1,892
Investments in subsidiaries		3,648,961		—		—		(3,648,961	)		—
Property and equipment, net		18,555		2,863,311		740		—			2,882,606
Other assets		35,072		2,423,807		26,674		(31,785	)		2,453,768
Total assets	$	3,750,856	$	5,794,150	$	83,075	$	(3,716,619	)	$	5,911,462

Current liabilities	$	48,579	$	328,319	$	25,279	$	—		$	402,177
Intercompany payables		10,873		—		25,000		(35,873	)		—
Long-term financing obligation to GLPI		—		959,835		—		—			959,835
Long-term debt, less current maturities		2,640,046		621,193		34		—			3,261,273
Deferred income tax liabilities		—		231,795		—		(31,785	)		200,010
Other accrued liabilities		22,206		36,808		—		—			59,014
Stockholders’ equity		1,029,152		3,616,200		32,762		(3,648,961	)	$	1,029,153
Total liabilities and stockholders’ equity	$	3,750,856	$	5,794,150	$	83,075	$	(3,716,619	)	$	5,911,462

The consolidating condensed statements of income for the year ended December 31, 2019 is as follows:

	Eldorado Resorts, Inc. (Parent Obligor)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating and Eliminating Entries			Eldorado Resorts, Inc. Consolidated
	(in thousands)
Revenues:
Gaming and pari-mutuel commissions	$	—		$	1,803,515		$	4,671		$	—		$	1,808,186
Non-gaming		6,751			707,063			6,249			—			720,063
Net revenues		6,751			2,510,578			10,920			—			2,528,249

Operating expenses:
Gaming and pari-mutuel commissions		—			799,163			3,164			—			802,327
Non-gaming		—			383,422			400			—			383,822
Marketing and promotions		—			129,123			250			—			129,373
General and administrative		—			475,549			1,202			—			476,751
Corporate		65,128			229			639			—			65,996
Impairment charges		—			958			—			—			958
Management fee		(22,334	)		22,334			—			—			—
Depreciation and amortization		5,076			216,337			112			—			221,525
Total operating expenses		47,870			2,027,115			5,767			—			2,080,752

Gain on sale of asset or disposal of property and equipment		29,032			20,476			67			—			49,575
Transaction expenses		(83,498	)		(914	)		(246	)		—			(84,658	)
(Loss) from equity in unconsolidated affiliate		(2,656	)		215			—			—			(2,441	)
Operating (loss) income		(98,241	)		503,240			4,974			—			409,973

Interest expense, net		(141,081	)		(159,275	)		14,108			—			(286,248	)
Loss on early retirement of debt, net		(7,512	)		—			—			—			(7,512	)
Unrealized gain on restricted investment		8,765			—			—			—			8,765
Subsidiary income (loss)		210,144			—			—			(210,144	)		—
Net (loss) income before income taxes		(27,925	)		343,965			19,082			(210,144	)		124,978
Income tax benefit (provision)		108,926			(148,308	)		(4,595	)		—			(43,977	)
Net income (loss)	$	81,001		$	195,657		$	14,487		$	(210,144	)	$	81,001

The consolidating condensed statements of income for the year ended December 31, 2018 is as follows:

	Eldorado Resorts, Inc. (Parent Obligor)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating and Eliminating Entries			Eldorado Resorts, Inc. Consolidated
	(in thousands)
Revenues:
Gaming and pari-mutuel commissions	$	—		$	1,522,559		$	30,819		$	—		$	1,553,378
Non-gaming		11			492,692			9,926			—			502,629
Net revenues		11			2,015,251			40,745			—			2,056,007

Operating expenses:
Gaming and pari-mutuel commissions		—			728,709			20,580			—			749,289
Non-gaming		—			303,706			2,597			—			306,303
Marketing and promotions		—			104,402			1,759			—			106,161
General and administrative		—			342,185			7,413			—			349,598
Corporate		42,466			2,416			1,750			—			46,632
Impairment charges		—			9,815			3,787			—			13,602
Management fee		(25,340	)		25,340			—			—			—
Depreciation and amortization		3,655			153,396			378			—			157,429
Total operating expenses		20,781			1,669,969			38,264			—			1,729,014

Loss on sale of asset or disposal of property and equipment		—			(828	)		(7	)		—			(835	)
Proceeds from terminated sale		5,000			—			—			—			5,000
Transaction expenses		(11,369	)		(9,473	)		—			—			(20,842	)
Loss from unconsolidated affiliate		—			(213	)		—			—			(213	)
Operating income (loss)		(27,139	)		334,768			2,474			—			310,103

Interest expense, net		(115,745	)		(54,226	)		(1,761	)		—			(171,732	)
Loss on early retirement of debt, net		(162	)		—			—			—			(162	)
Unrealized loss on restricted investment		(2,587	)		—									(2,587	)
Subsidiary income (loss)		201,353			—			—			(201,353	)		—
Net income (loss) before income taxes		55,720			280,542			713			(201,353	)		135,622
Income tax benefit (provision)		39,515			(80,474	)		572			—			(40,387	)
Net income (loss)	$	95,235		$	200,068		$	1,285		$	(201,353	)	$	95,235

The consolidating condensed statements of income for the year ended December 31, 2017 is as follows:

	Eldorado Resorts, Inc. (Parent Obligor)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating and Eliminating Entries			Eldorado Resorts, Inc. Consolidated
	(in thousands)
Revenues:
Gaming and pari-mutuel commissions	$	—		$	1,076,957		$	22,070		$	—		$	1,099,027
Non-gaming		—			374,246			7,525			—			381,771
Net revenues		—			1,451,203			29,595			—			1,480,798
Operating expenses:
Gaming and pari-mutuel commissions		—			546,207			14,882			—			561,089
Non-gaming		—			250,160			2,419			—			252,579
Marketing and promotions		—			80,893			2,281			—			83,174
General and administrative		—			235,905			5,132			—			241,037
Corporate		31,620			(4,318	)		3,437			—			30,739
Impairment charges		—			38,016			—			—			38,016
Management fee		(31,620	)		31,620			—			—			—
Depreciation and amortization		1,030			104,454			407			—			105,891
Total operating expenses		1,030			1,282,937			28,558			—			1,312,525
Loss on sale of asset or disposal of property and equipment		(20	)		(299	)		—			—			(319	)
Proceeds from terminated sale		—			20,000									20,000
Transaction expenses		(70,865	)		(21,912	)		—			—			(92,777	)
Loss from unconsolidated affiliate		—			(367	)		—			—			(367	)
Operating income (loss)		(71,915	)		165,688			1,037			—			94,810

Interest expense, net		(73,448	)		(25,221	)		(1,100	)		—			(99,769	)
Loss on early retirement of debt, net		(38,430	)		—			—			—			(38,430	)
Subsidiary income (loss)		205,251			—			—			(205,251	)		—
Net income (loss) before income taxes		21,458			140,467			(63	)		(205,251	)		(43,389	)
Income tax benefit (provision)		51,922			69,787			(4,940	)		—			116,769
Net income (loss)	$	73,380		$	210,254		$	(5,003	)	$	(205,251	)	$	73,380

The consolidating condensed statement of cash flows for the year ended December 31, 2019 is as follows:

	Eldorado Resorts, Inc. (Parent Obligor)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating and Eliminating Entries		Eldorado Resorts, Inc. Consolidated
	(in thousands)
Net cash (used in) provided by operating activities	$	(64,023	)	$	390,562		$	(14,013	)	$	—	$	312,526
INVESTING ACTIVITIES:
Purchase of property and equipment, net		(5,380	)		(165,386	)		—			—		(170,766	)
Proceeds from sale of investments		—			—			4,944			—		4,944
Proceeds from sale of businesses, property and equipment, net of cash sold		(208,911	)		765,714			(20,670	)		—		536,133
Investments in and advances to unconsolidated affiliate		(771	)		—			—			—		(771	)
Net cash (used in) provided by investing activities		(215,062	)		600,328			(15,726	)		—		369,540
FINANCING ACTIVITIES:
Payments on Term Loan		(458,000	)		—			—			—		(458,000	)
Borrowings under Revolving Credit Facility		33,000			—			—			—		33,000
Payments under Revolving Credit Facility		(278,000	)		—			—			—		(278,000	)
Net proceeds from (payments to) related parties		1,021,818			(1,051,647	)		29,829			—		—
Debt issuance costs		(456	)		—			—			—		(456	)
Taxes paid related to net share settlement of equity awards		(8,247	)		—			—			—		(8,247	)
Payments on other long-term payables		(97	)		(50	)		(329	)		—		(476	)
Dividends (paid) received					7,900			(7,900	)
Net cash provided by (used in) financing activities		310,018			(1,043,797	)		21,600			—		(712,179	)
Increase in cash, cash equivalents and restricted cash		30,933			(52,907	)		(8,139	)		—		(30,113	)
Cash, cash equivalents and restricted cash, beginning of period		12,844			222,672			11,175			—		246,691
Cash, cash equivalents and restricted cash, end of period	$	43,777		$	169,765		$	3,036		$	—	$	216,578

RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO AMOUNTS REPORTED WITHIN THE CONDENSED CONSOLIDATED BALANCE SHEETS:
Cash and cash equivalents	$	43,777		$	159,739			2,801		$	—	$	206,317
Restricted cash		—			3,272			235			—		3,507
Restricted and escrow cash included in other noncurrent assets		—			6,754			—			—		6,754
Total cash, cash equivalents and restricted cash	$	43,777		$	169,765		$	3,036		$	—	$	216,578

The consolidating condensed statement of cash flows for the year ended December 31, 2018 is as follows:

	Eldorado Resorts, Inc. (Parent Obligor)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating and Eliminating Entries		Eldorado Resorts, Inc. Consolidated
	(in thousands)
Net cash provided by (used in) operating activities	$	(65,836	)	$	387,576		$	1,540		$	—	$	323,280
INVESTING ACTIVITIES:
Purchase of property and equipment, net		(8,467	)		(136,102	)		(2,846	)		—		(147,415	)
Purchase of restricted investments		—			—			(8,008	)		—		(8,008	)
Proceeds from sale of property and equipment		—			1,002			—			—		1,002
Cash (used in) provided by business combinations		(1,010,175	)		(103,052	)		—			—		(1,113,227	)
Investments in and advances to unconsolidated affiliate		—			(581	)		—			—		(581	)
Net cash used in investing activities		(1,018,642	)		(238,733	)		(10,854	)		—		(1,268,229	)
FINANCING ACTIVITIES:
Proceeds from issuance of long-term debt		600,000			246,000			—			—		846,000
Borrowings under Revolving Credit Facility		315,358			—			—			—		315,358
Payments under Revolving Credit Facility		(70,358	)		—			—			—		(70,358	)
Net proceeds from (payments to) related parties		285,026			(290,312	)		5,286			—		—
Debt issuance costs		(25,758	)		—			—			—		(25,758	)
Taxes paid related to net share settlement of equity awards		(11,708	)		—			—			—		(11,708	)
Proceeds from exercise of stock options		154			—			—			—		154
Purchase of treasury stock		(9,131	)		—			—			—		(9,131	)
Payments on other long-term payables		(92	)		(278	)		(296	)		—		(666	)
Net cash provided by (used in) financing activities		1,083,491			(44,590	)		4,990			—		1,043,891
Increase in cash, cash equivalents and restricted cash		(987	)		104,253			(4,324	)		—		98,942
Cash, cash equivalents and restricted cash, beginning of period		13,831			118,419			15,499			—		147,749
Cash, cash equivalents and restricted cash, end of period	$	12,844		$	222,672		$	11,175		$	—	$	246,691

RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO AMOUNTS REPORTED WITHIN THE CONDENSED CONSOLIDATED BALANCE SHEETS:
Cash and cash equivalents	$	12,127		$	208,697			9,928		$	—	$	230,752
Restricted cash		717			7,920			247			—		8,884
Restricted and escrow cash included in other noncurrent assets		—			6,055			1,000			—		7,055
Total cash, cash equivalents and restricted cash	$	12,844		$	222,672		$	11,175		$	—	$	246,691

The consolidating condensed statement of cash flows for the year ended December 31, 2017 is as follows:

	Eldorado Resorts, Inc. (Parent Obligor)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating and Eliminating Entries		Eldorado Resorts, Inc. Consolidated
	(in thousands)
Net cash provided by (used in) operating activities	$	(44,737	)	$	170,553		$	4,070		$	—	$	129,886
INVESTING ACTIVITIES:
Purchase of property and equipment, net		(11,073	)		(70,449	)		(1,639	)		—		(83,161	)
Proceeds from sale of property and equipment		—			135			—			—		135
Net cash (used in) provided by business combinations		(1,355,370	)		37,103			5,216			—		(1,313,051	)
Investments in and advances to unconsolidated affiliate		—			(604	)		—			—		(604	)
Net cash provided by (used in) investing activities		(1,366,443	)		(33,815	)		3,577			—		(1,396,681	)
FINANCING ACTIVITIES:
Proceeds from issuance of long-term debt		2,325,000			—			—			—		2,325,000
Borrowings under Revolving Credit Facility		207,953			—			—			—		207,953
Payments under long-term debt		(911,875	)		—			—			—		(911,875	)
Payments under Revolving Credit Facility		(236,953	)		—			—			—		(236,953	)
Net proceeds from (payments to) related parties		72,011			(79,634	)		7,623			—		—
Debt premium proceeds		27,500			—			—					27,500
Payments on other long-term payables		(43	)		(318	)		(172	)		—		(533	)
Debt issuance costs		(51,526	)		—			—			—		(51,526	)
Taxes paid related to net share settlement of equity awards		(11,365	)		—			—			—		(11,365	)
Proceeds from exercise of stock options		2,900			—			—			—		2,900
Net cash provided by (used in) financing activities		1,423,602			(79,952	)		7,451			—		1,351,101
Increase in cash, cash equivalents and restricted cash		12,422			56,786			15,098			—		84,306
Cash, cash equivalents and restricted cash, beginning of period		1,409			61,633			401			—		63,443
Cash, cash equivalents and restricted cash, end of period	$	13,831		$	118,419		$	15,499		$	—	$	147,749
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO AMOUNTS REPORTED WITHIN THE CONDENSED CONSOLIDATED BALANCE SHEETS:
Cash and cash equivalents	$	13,202		$	114,925		$	6,469		$	—	$	134,596
Restricted cash		629			2,495			143			—		3,267
Restricted cash included in other noncurrent assets		—			999			8,887			—		9,886
Total cash, cash equivalents and restricted cash	$	13,831		$	118,419		$	15,499		$	—	$	147,749