Segment Information (Tables)

3 Months Ended

Mar. 31, 2014

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The table below presents information about the reported segments for the three months ended March 31, 2014 and 2013 (in thousands):

	Three Months Ended March 31,
	2014			2013
Net revenues from external customers:
Churchill Downs	$	2,142		$	2,300
Arlington	6,122			7,241
Calder	8,024			2,280
Fair Grounds	14,291			15,992
Total Racing Operations	30,579			27,813
Calder Casino	20,583			20,486
Fair Grounds Slots	11,784			12,364
VSI	8,923			9,761
Harlow's Casino	14,451			15,354
Oxford Casino	17,519			—
Riverwalk Casino	13,295			14,124
Total Gaming	86,555			72,089
Online Business	46,084			42,916
Other Investments	3,837			4,902
Corporate	255			156
Net revenues from external customers	$	167,310		$	147,876
Intercompany net revenues:
Churchill Downs	$	228		$	189
Arlington	1,017			137
Calder	356			13
Fair Grounds	732			833
Total Racing Operations	2,333			1,172
Online Business	230			213
Other Investments	898			902
Eliminations	(3,461		)	(2,287		)
Net revenues	$	—		$	—
Reconciliation of segment Adjusted EBITDA to net (loss) earnings:
Racing Operations	$	(10,250	)	$	(11,257	)
Gaming	27,251			21,927
Online Business	9,950			11,335
Other Investments	(1,353		)	309
Total segment Adjusted EBITDA	25,598			22,314
Corporate Adjusted EBITDA	(1,106		)	(1,177		)
Insurance recoveries, net of losses	431			375
Share-based compensation expense	(5,241		)	(3,363		)
Pre-opening expenses	(27		)	(230		)
MVG interest expense, net	(540		)	—
Depreciation and amortization	(15,284		)	(15,035		)
Interest income (expense), net	(4,969		)	(1,466		)
Income tax benefit (provision)	438			(329		)
(Loss) earnings from continuing operations	(700		)	1,089
Discontinued operations, net of income taxes	—			(31		)
Net (loss) earnings and comprehensive income	$	(700	)	$	1,058

Reconciliation of Assets from Segment to Consolidated

The table below presents equity in earnings (losses) of unconsolidated investments included in the Company’s reported segments for the three months ended March 31, 2014 and 2013 (in thousands):

	Three Months Ended March 31,
	2014		2013
Gaming	$	2,041	$	(298	)
Online Business	220		109
Other Investments	29		25
	$	2,290	$	(164	)

The table below presents total capital expenditures for the reported segments for the three months ended March 31, 2014 and 2013 (in thousands):

	Three Months Ended March 31,
	2014		2013
Capital expenditures:
Racing Operations	$	14,037	$	5,002
Gaming	2,250		6,426
Online Business	1,592		1,985
Other Investments	2,290		281
	$	20,169	$	13,694

The table below presents total assets for the reported segments (in thousands):

	March 31, 2014		December 31, 2013
Total assets:
Racing Operations	$	507,807	$	513,345
Gaming	621,710		622,038
Online Business	189,746		186,621
Other Investments	31,820		30,257
	$	1,351,083	$	1,352,261