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Quarterly Results of Operations (Unaudited) (Tables)
12 Months Ended
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Quarterly Results of Operations
(in millions, except per common share data)
Year Ended December 31, 2018
 
First Quarter(a)
 
Second Quarter
 
Third Quarter(b)
 
Fourth Quarter
Net revenues
$
189.3

 
$
379.4

 
$
221.3

 
$
219.0

Operating income
19.7

 
136.6

 
20.5

 
12.0

Income from continuing operations, net of tax
14.1

 
103.2

 
58.0

 
7.3

Income (loss) from discontinued operations, net of tax
167.9

 
(0.1
)
 
(1.7
)
 
4.1

 
 
 
 
 
 
 
 
Net income (loss) per common share - basic (d):
 
 
 
 
 
 
 
Continuing operations
$
0.33

 
$
2.54

 
$
1.43

 
$
0.18

Discontinued operations
$
3.88

 
$

 
$
(0.04
)
 
$
0.10

Net income per common share - basic
$
4.21

 
$
2.54

 
$
1.39

 
$
0.28

 
 
 
 
 
 
 
 
Net income (loss) per common share - diluted (d):
 
 
 
 
 
 
 
Continuing operations
$
0.32

 
$
2.52

 
$
1.42

 
$
0.18

Discontinued operations
$
3.86

 
$

 
$
(0.04
)
 
$
0.10

Net income per common share - diluted
$
4.18

 
$
2.52

 
$
1.38

 
$
0.28

(in millions, except per common share data)
Year Ended December 31, 2017
 
First Quarter
 
Second Quarter
 
Third Quarter
 
Fourth Quarter(c)
Net revenues
$
167.5

 
$
339.3

 
$
196.9

 
$
178.9

Operating income (loss)
8.4

 
123.3

 
26.8

 
(12.8
)
Income from continuing operations, net of tax
2.2

 
72.9

 
12.9

 
34.4

Income from discontinued operations, net of tax
5.1

 
5.4

 
3.8

 
3.8

 
 
 
 
 
 
 
 
Net income per common share - basic (d):
 
 
 
 
 
 
 
Continuing operations
$
0.04

 
$
1.50

 
$
0.28

 
$
0.75

Discontinued operations
0.11

 
0.11

 
0.08

 
0.08

Net income per common share - basic
$
0.15

 
$
1.61

 
$
0.36

 
$
0.83

 
 
 
 
 
 
 
 
Net income per common share - diluted (d):
 
 
 
 
 
 
 
Continuing operations
$
0.04

 
$
1.49

 
$
0.28

 
$
0.74

Discontinued operations
0.10

 
0.11

 
0.08

 
0.08

Net income per common share - diluted
$
0.14

 
$
1.60

 
$
0.36

 
$
0.82


(a)
First quarter of 2018 includes a $219.5 million gain on the Big Fish Games Transaction, which is included as a discontinued operation.
(b)
Third quarter of 2018 includes a $54.9 million gain on the Ocean Downs/Saratoga Transaction.
(c)
Fourth quarter of 2017 includes a $21.7 million impairment of tangible and intangible assets and a $20.7 million loss on extinguishment of debt. Additionally, fourth quarter of 2017 includes a $57.7 million income tax benefit resulting primarily from the re-measurement of our net deferred tax liabilities as a result of the Tax Act.
(d)
Net income per common share calculations for each quarter are based on the weighted average number of shares outstanding during the respective period. Accordingly, the sum of the quarters may not equal the full-year income (loss) per share.