XML 15 R4.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
REVENUES:        
Net revenues $ 126,470 $ 637,121 $ 599,539 $ 1,272,944
EXPENSES:        
Other 1,179 10,723 10,360 21,972
Marketing and promotions 5,105 32,080 30,058 64,381
General and administrative 64,862 117,431 156,537 237,319
Corporate 13,050 21,051 29,532 37,805
Impairment charges 0 0 160,758 958
Depreciation and amortization 48,939 56,533 99,372 114,290
Total operating expenses 190,585 525,691 778,746 1,058,939
(Loss) gain on sale or disposal of property and equipment (65) (366) 1,393 21,952
Transaction expenses (12,697) (7,292) (21,991) (9,186)
Loss from unconsolidated affiliates (1,450) (1,222) (1,702) (617)
Operating (loss) income (78,327) 102,550 (201,507) 226,154
OTHER EXPENSE:        
Interest expense, net (68,136) (71,798) (134,600) (145,308)
Loss on extinguishment of debt 0 0 (158) 0
Unrealized gain (loss) on investments and marketable securities 12,806 (1,398) (10,202) (2,858)
Total other expense (55,330) (73,196) (144,960) (148,166)
(Loss) income before income taxes (133,657) 29,354 (346,467) 77,988
Benefit (provision) for income taxes 33,661 (10,418) 70,833 (20,823)
Net (loss) income $ (99,996) $ 18,936 $ (275,634) $ 57,165
Net (loss) income per share of common stock:        
Basic (in dollars per share) $ (1.25) $ 0.24 $ (3.49) $ 0.74
Diluted (in dollars per share) $ (1.25) $ 0.24 $ (3.49) $ 0.73
Weighted average number of shares outstanding:        
Weighted average basic shares outstanding (in shares) 80,053,676 77,682,759 79,009,373 77,625,303
Weighted average diluted shares outstanding (in shares) 80,053,676 78,725,289 79,009,373 78,657,552
Casino and pari-mutuel commissions        
REVENUES:        
Net revenues $ 101,479 $ 457,162 $ 441,228 $ 927,848
EXPENSES:        
Cost of goods and services 43,354 203,240 202,510 413,546
Food and beverage        
REVENUES:        
Net revenues 6,567 75,356 62,813 150,637
EXPENSES:        
Cost of goods and services 8,250 59,497 61,505 119,882
Hotel        
REVENUES:        
Net revenues 8,916 78,391 57,292 143,175
EXPENSES:        
Cost of goods and services 5,846 25,136 28,114 48,786
Other        
REVENUES:        
Net revenues $ 9,508 $ 26,212 $ 38,206 $ 51,284