XML 47 R19.htm IDEA: XBRL DOCUMENT v3.20.1
Revenue Recognition
3 Months Ended
Mar. 31, 2020
Revenue Recognition [Abstract]  
Revenue Recognition 12.REVENUE RECOGNITION

The Company derives revenue and other income from contracts with customers and financial instruments. A breakout of the Company’s derived revenue and other income is presented in the table below.

For the three months

ended March 31,

Amounts in thousands

2020

2019

Revenue from contracts with customers

$

87,656

$

45,613

Interest income

1

4

Total revenue

$

87,657

$

45,617

The Company operates gaming establishments as well as related lodging, restaurant, horse racing (including off-track betting) and entertainment facilities around the world. The Company generates revenue at its properties by providing the following types of products and services: gaming, hotel, food and beverage, and pari-mutuel and other. Disaggregation of the Company’s revenue from contracts with customers by type of revenue and segment is presented in the tables below.

For the three months ended March 31, 2020

Amounts in thousands

United States

Canada

Poland

Corporate and Other

Total

Gaming

$

46,535

$

10,210

$

16,754

$

793

$

74,292

Hotel

1,733

83

1,816

Food and beverage

3,753

2,501

193

105

6,552

Other

1,406

3,393

115

82

4,996

Net operating revenue

$

53,427

$

16,187

$

17,062

$

980

$

87,656

For the three months ended March 31, 2019

Amounts in thousands

United States

Canada

Poland

Corporate and Other

Total

Gaming

$

6,799

$

9,931

$

19,460

$

1,150

$

37,340

Hotel

321

125

446

Food and beverage

863

2,441

227

221

3,752

Other

85

3,800

65

125

4,075

Net operating revenue

$

8,068

$

16,297

$

19,752

$

1,496

$

45,613

For the majority of the Company’s contracts with customers, payment is made in advance of the services and contracts are settled on the same day the sale occurs with revenue recognized on the date of the sale. For contracts that are not settled, a contract liability is created. The expected duration of the performance obligation is less than one year.

The amount of revenue recognized that was included in the opening contract liability balance was $0.6 million and $0.2 million for the three months ended March 31, 2020 and 2019, respectively. This revenue consists primarily of the Company’s deferred gaming revenue from player points earned through play at the Company’s casinos located in the United States. Activity in the Company’s receivables and contract liabilities is presented in the tables below.

For the three months

For the three months

ended March 31, 2020

ended March 31, 2019

Amounts in thousands

Receivables

Contract Liabilities

Receivables

Contract Liabilities

Opening

$

326

663

$

305

$

219

Closing

19

722

320

214

Increase/(decrease)

$

(307)

$

59

$

15

$

(5)


Receivables are included in accounts receivable and contract liabilities are included in accrued liabilities on the Company’s condensed consolidated balance sheets. In March 2020, the Company wrote-down its receivables related to MCE based on assessments made due to COVID-19 and future cash flows of MCE, and as a result, charged $0.3 million to general and administrative expenses during the three months ended March 31, 2020.

Substantially all of the Company’s contracts and contract liabilities have an original duration of one year or less. The Company applies the practical expedient for such contracts and does not consider the effects of the time value of money. Further, because of the short duration of these contracts, the Company has not disclosed the transaction price for the remaining performance obligations as of the end of each reporting period or when the Company expects to recognize this revenue.