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Assets Held for Sale
 6 Months Ended
Jun. 30, 2020
Discontinued Operations and Disposal Groups [Abstract]  
Assets Held for Sale . Assets Held for Sale
Kansas City, Vicksburg, Eldorado Shreveport and MontBleu
On July 10, 2019, the Company entered into a definitive agreement to sell the equity interests of the entities that hold Vicksburg and Kansas City to Twin River for approximately $230 million, subject to a working capital adjustment. The definitive agreements provide that the consummation of the sales are subject to satisfaction of customary conditions, including receipt of required regulatory approvals. The sale of the equity interests closed on July 1, 2020 and resulted in a gain of approximately $8 million.
On April 24, 2020, the Company entered into a definitive purchase agreement with Twin River and certain of its affiliates for the sale of the equity interests of Eldorado Resort Casino Shreveport Joint Venture and Columbia Properties Tahoe, LLC, the entities that hold Eldorado Shreveport and MontBleu, respectively, for aggregate consideration of $155 million, subject to a working capital adjustment. The definitive agreement provides that the consummation of the sale is subject to satisfaction of customary conditions, including receipt of required regulatory approvals and is expected to close in the first quarter of 2021.
Kansas City and Vicksburg met the requirements for presentation as assets held for sale under generally accepted accounting principles as of June 30, 2020 and December 31, 2019. Eldorado Shreveport and MontBleu met the requirements for presentation as assets held for sale as of June 30, 2020. However, none of the pending divestitures met the requirements for presentation as discontinued operations and are included in income from continuing operations in the periods presented.
As a result of the agreement to sell MontBleu, an impairment charge totaling $45.6 million was recorded during the six months ended June 30, 2020 due to the carrying value exceeding the estimated net sales proceeds. The impairment charges resulted in a reduction to the carrying amounts of the right-of-use assets, property and equipment, goodwill and other intangibles totaling $17.8 million, $23.2 million and $4.6 million, respectively. See Note 8.
The assets and liabilities held for sale, accounted for at carrying value as it was lower than fair value, were as follows as of June 30, 2020 (in thousands):
June 30, 2020
ShreveportMontBleuKansas CityVicksburgTotal
Assets:
Accounts receivable, net$1,838  $1,170  $441  $162  $3,611  
Due from affiliates—  163  —  (9) 154  
Inventories1,039  606  42  122  1,809  
Right-of-use assets11,837  28,241  37,425  —  77,503  
Prepaid expenses and other847  845  364  4,311  6,367  
Property and equipment, net85,077  36,334  39,169  31,729  192,309  
Goodwill—  —  39,623  8,806  48,429  
Other intangibles, net20,574  —  90,329  2,708  113,611  
Assets held for sale$121,212  $67,359  $207,393  $47,829  $443,793  
Liabilities:
Accounts payable$743  $766  $152  $192  $1,853  
Accrued payroll and related748  351  403  278  1,780  
Accrued property and other taxes1,626  225  325  592  2,768  
Short-term lease obligation974  5,353  2,291  —  8,618  
Long-term lease obligations13,051  62,884  34,370  —  110,305  
Accrued other liabilities2,483  2,081  956  237  5,757  
Other long-term liabilities218  69  229  77  593  
Liabilities related to assets held for sale$19,843  $71,729  $38,726  $1,376  $131,674  

The assets and liabilities held for sale, accounted for at carrying value as it was lower than fair value, were as follows as of December 31, 2019 (in thousands):
December 31, 2019
Kansas CityVicksburgTotal
Assets:
Accounts receivable, net$285  $75  $360  
Inventories52  119  171  
Right-of-use assets36,135  —  36,135  
Prepaid expenses and other216  4,168  4,384  
Property and equipment, net39,126  31,493  70,619  
Goodwill39,623  8,806  48,429  
Other intangibles, net90,329  2,708  93,037  
Assets held for sale$205,766  $47,369  $253,135  
Liabilities:
Accounts payable$307  $188  $495  
Accrued payroll and related567  327  894  
Accrued property and other taxes26  891  917  
Short-term lease obligation764  —  764  
Long-term lease obligation33,080  —  33,080  
Accrued other liabilities1,055  280  1,335  
Liabilities related to assets held for sale$35,799  $1,686  $37,485  
The following information presents the net revenues and net (loss) income for the Company’s properties that are held for sale (in thousands):
Three Months Ended June 30, 2020
ShreveportMontBleuKansas CityVicksburg
Net revenues$7,757  $3,072  $4,301  $2,551  
Net (loss) income 2,714  2,329  (737) (202) 
Six Months Ended June 30, 2020
ShreveportMontBleuKansas CityVicksburg
Net revenues$30,307  $11,689  $18,049  $7,081  
Net (loss) income4,393  (39,835) 2,477  (675) 

Mountaineer, Caruthersville and Cape Girardeau Divestitures
The sales of Mountaineer, Caruthersville and Cape Girardeau were consummated on December 6, 2019. Prior to the closing date, Mountaineer, Cape Girardeau and Caruthersville met the requirements for presentation as assets held for sale. However, they did not meet the requirements for presentation as discontinued operations. Mountaineer was previously reported in the East segment and Cape Girardeau and Caruthersville were reported in Midwest segment.
The following information presents the net revenues and net income of Mountaineer, Cape Girardeau and Caruthersville for the three and six months ended June 30, 2019 (in thousands):
Three Months Ended June 30, 2019Six Months Ended June 30, 2019
MountaineerCape GirardeauCaruthersvilleMountaineerCape GirardeauCaruthersville
Net revenues$32,707  $14,340  $8,651  $62,873  $29,742  $17,577  
Net income2,414  1,578  1,907  4,037  3,692  3,687  

Presque and Nemacolin Divestitures
The sale of Presque closed on January 11, 2019 resulting in a gain on sale of $22.1 million, net of final working capital adjustments, for the six months ended June 30, 2019. The sale of Nemacolin closed on March 8, 2019 resulting in a gain on sale of $0.1 million, net of final working capital adjustments, for the six months ended June 30, 2019. Presque and Nemacolin were both previously reported in the East segment.
The following information presents the net revenues and net loss of Presque and Nemacolin prior to the respective divestitures (in thousands):
Six Months Ended June 30, 2019
PresqueNemacolin
Net revenues$3,235  $4,836  
Net loss(62) (754) 

These amounts include historical operating results, adjusted to eliminate the internal allocation of interest expense that was not be assumed by the buyer.