Acquisition (Tables)

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Summary of Assets Acquired and Liabilities Assumed

The following table summarizes the final fair values of the assets acquired and liabilities assumed, net of cash acquired of $8.4 million, at the date of the acquisition.

(in millions)	Total
Current assets	$	2.1
Property and equipment	78.5
Goodwill	26.1
Intangible assets	71.2
Current liabilities	(5.2)
Non-current liabilities	(0.6)
	$	172.1

The following table summarizes the final fair values of the assets acquired and liabilities assumed, net of cash acquired of $13.1 million, at the acquisition date.

(in millions)	Total
Current assets	$	1.9
Property and equipment	57.4
Goodwill	20.4
Intangible assets	95.4
Current liabilities	(5.2)
Debt	(54.7)
	$	115.2

Schedule of Indefinite-lived Intangible Assets Acquired as Part of Business Combination

The fair value of the intangible assets consists of the following:

(in millions)	Fair Value Recognized		Weighted-Average Useful Life
Gaming rights	$	56.0	N/A
Trademark	15.2		N/A
Total intangible assets	$	71.2

The final fair value of the intangible assets consisted of the following:

(in millions)	Fair Value Recognized		Weighted-Average Useful Life
Gaming rights	$	87.0	N/A
Trademark	8.3		N/A
Other	0.1		1.3 years
Total intangible assets	$	95.4

Business Acquisition, Pro Forma Information

The following unaudited pro forma consolidated financial information for the Company has been prepared assuming the Company's acquisition of Presque Isle occurred as of January 1, 2018. The unaudited pro forma financial information is not necessarily indicative of either future results of operations or results of operations that might have been achieved had the acquisition been consummated as of January 1, 2018. The unaudited pro forma net income giving effect to the Presque Isle Transaction was not materially different than our historical net income.

	Year Ended December 31,
(in millions)	2019		2018
Net revenue	$	1,332.9	$	1,150.8

The following unaudited pro forma consolidated financial information for the Company has been prepared assuming the Company's acquisition of the remaining 50% interest in Ocean Downs occurred as of January 1, 2018 and excludes the gain recognized from the Ocean Downs/Saratoga Transaction. The unaudited pro forma financial information is not necessarily indicative of either future results of operations or results of operations that might have been achieved had the acquisition been consummated as of January 1, 2018. The unaudited pro forma net income giving effect to the Ocean Downs/Saratoga Transaction was not materially different than our historical net income.

	Years Ended December 31,
(in millions)	2018
Net revenue	$	1,065.4

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination

The final fair value of the intangible assets consisted of the following:

(in millions)	Fair Value Recognized		Weighted-Average Useful Life
Gaming rights	$	87.0	N/A
Trademark	8.3		N/A
Other	0.1		1.3 years
Total intangible assets	$	95.4