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Segment Information
 6 Months Ended
Jun. 30, 2011
Segment Reporting [Abstract]  
Segment Information
Segment Information
We use Adjusted EBITDA (as defined below) to compare operating results among our segments and allocate resources. The following table highlights our Adjusted EBITDA and reconciles Adjusted EBITDA to income from continuing operations the three and six months ended June 30, 2011 and 2010.
 
For the three months ended June 30,
 
For the six months ended June 30,
 
2011
 
2010
 
2011
 
2010
 
(in millions)
Revenues:
 
 
 
 
 
 
 
L'Auberge du Lac
$
96.1


 
$
83.7


 
$
184.9


 
$
170.0


St. Louis (a)
96.6


 
85.4


 
190.1


 
157.2


Boomtown New Orleans
33.4


 
34.2


 
70.4


 
69.0


Belterra Casino Resort
38.5


 
38.8


 
75.3


 
75.2


Boomtown Bossier City
21.3


 
21.1


 
44.3


 
45.5


Boomtown Reno
9.7


 
10.4


 
17.3


 
19.2


River Downs
3.5


 
—


 
4.5


 
—


Total Revenue
$
299.1


 
$
273.6


 
$
586.8


 
$
536.1


Adjusted EBITDA (b):
 
 
 
 
 
 
 
L'Auberge du Lac
$
30.6


 
$
22.1


 
$
56.2


 
$
46.1


St. Louis (a)
22.7


 
14.2


 
42.7


 
29.7


Boomtown New Orleans
11.4


 
10.4


 
24.5


 
21.0


Belterra Casino Resort
8.0


 
7.7


 
14.4


 
14.2


Boomtown Bossier City
4.7


 
4.7


 
10.4


 
11.2


Boomtown Reno
0.2


 
0.5


 
(0.5
)
 
(0.5
)
River Downs
(0.7
)
 
—


 
(1.0
)
 
—


 
76.9


 
59.6


 
146.7


 
121.7


Corporate expenses (c)
(7.9
)
 
(10.2
)
 
(15.9
)
 
(18.3
)
 
69.0


 
49.4


 
130.8


 
103.4


Other benefits (costs):
 
 
 
 
 
 
 
Depreciation and amortization
(26.5
)
 
(29.3
)
 
(53.2
)
 
(55.2
)
Pre-opening and development costs
(2.6
)
 
(2.1
)
 
(4.8
)
 
(11.0
)
Share-based compensation expense
(2.3
)
 
(2.1
)
 
(3.8
)
 
(3.5
)
Impairment of indefinite-lived intangible assets
—


 
(11.5
)
 
—


 
(11.5
)
Impairment of land and construction costs
—


 
(18.4
)
 
—


 
(18.4
)
Write-downs, reserves and recoveries, net
(5.9
)
 
(1.7
)
 
(6.6
)
 
4.4


Interest expense, net of capitalized interest
(25.7
)
 
(27.4
)
 
(51.8
)
 
(48.4
)
Loss on early extinguishment of debt
—


 
(0.4
)
 
—


 
(1.9
)
Other non-operating income
0.1


 
0.1


 
0.2


 
0.2


Income tax (expense) benefit
(0.6
)
 
2.7


 
(0.7
)
 
2.1


Income (loss) from continuing operations
$
5.5


 
$
(40.7
)
 
$
10.1


 
$
(39.8
)


 
For the six months ended
June 30,
 
2011
 
2010
 
(in millions)
Capital expenditures:
 
 
 
L'Auberge du Lac
$
7.8


 
$
7.5


St. Louis (a)
7.6


 
58.8


Boomtown New Orleans
1.6


 
1.4


Belterra Casino Resort
1.1


 
3.0


Boomtown Bossier City
1.6


 
2.8


Boomtown Reno
0.1


 
0.2


River Downs (d)
0.1


 
—


Corporate and other, including properties under development (e)
59.2


 
19.7


 
$
79.1


 
$
93.4






 
June 30,

2011
 
December 31,

2010
 
(in millions)
Assets
 
 
 
L'Auberge du Lac
$
314.6


 
$
314.8


St. Louis (a)
784.5


 
790.0


Boomtown New Orleans
62.1


 
64.0


Belterra Casino Resort
184.1


 
188.6


Boomtown Bossier City
87.0


 
88.9


Boomtown Reno
38.8


 
40.5


River Downs
45.4


 
—


Corporate and other, including development projects and discontinued operations
367.8


 
397.0


 
$
1,884.3


 
$
1,883.8




(a)
Our St. Louis segment consists of Lumière Place (which includes the Lumière Place Casino, the Pinnacle-owned Four Seasons Hotel St. Louis and HoteLumière) and River City.


(b)
We define Adjusted EBITDA for each segment as earnings before interest income and expense, income taxes, depreciation, amortization, pre-opening and development expenses, non-cash share-based compensation, asset impairment costs, write-downs, reserves, recoveries, gain (loss) on sale of certain assets, loss on early extinguishment of debt, loss on sale of discontinued operations, and discontinued operations. We use Adjusted EBITDA to compare operating results among our properties and between accounting periods.


(c)
Corporate expenses represent unallocated payroll, professional fees, travel expenses and other general and administrative expenses not directly related to our casino and hotel operations.


(d)
Capital expenditures for our River Downs segment includes items purchased since the initial acquisition of the racetrack in January 2011 and exclude the initial purchase price.
(e)
Includes capital expenditures for our various development projects not yet reflected as operating segments, including the following:
 
For the six months ended
June 30,
 
2011
 
2010
 
(in millions)
Baton Rouge
51.1


 
4.0