Revenue Recognition

9 Months Ended

Sep. 30, 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				For the nine months
	ended September 30,				ended September 30,
Amounts in thousands	2020		2019		2020		2019
Revenue from contracts with customers	$	95,706	$	52,935	$	219,466	$	150,990
Interest income		—		11		6		20
Cost recovery income		—		—		158		417
Dividend income		—		—		—		18
Total revenue	$	95,706	$	52,946	$	219,630	$	151,445

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 reportable segment is presented in the tables below.

	For the three months ended September 30, 2020
Amounts in thousands		United States		Canada		Poland		Corporate and Other		Total
Gaming	$	52,163	$	9,961	$	16,140	$	25	$	78,289
Hotel		1,981		—		—		—		1,981
Food and beverage		2,747		1,712		174		—		4,633
Other		5,756		4,904		25		118		10,803
Net operating revenue	$	62,647	$	16,577	$	16,339	$	143	$	95,706

	For the three months ended September 30, 2019
Amounts in thousands		United States		Canada		Poland		Corporate and Other		Total
Gaming	$	7,637	$	13,252	$	20,107	$	1,023	$	42,019
Hotel		443		119		—		—		562
Food and beverage		1,022		4,021		215		167		5,425
Other		97		4,671		38		123		4,929
Net operating revenue	$	9,199	$	22,063	$	20,360	$	1,313	$	52,935

	For the nine months ended September 30, 2020
Amounts in thousands		United States		Canada		Poland		Corporate and Other		Total
Gaming	$	119,796	$	22,243	$	39,643	$	821	$	182,503
Hotel		4,190		83		—		—		4,273
Food and beverage		7,273		4,526		432		105		12,336
Other		8,649		10,627		718		360		20,354
Net operating revenue	$	139,908	$	37,479	$	40,793	$	1,286	$	219,466

	For the nine months ended September 30, 2019
Amounts in thousands		United States		Canada		Poland		Corporate and Other		Total
Gaming	$	21,815	$	36,834	$	59,443	$	3,253	$	121,345
Hotel		1,137		365		—		—		1,502
Food and beverage		2,833		10,118		656		623		14,230
Other		288		13,036		122		467		13,913
Net operating revenue	$	26,073	$	60,353	$	60,221	$	4,343	$	150,990

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 for the three and nine months ended September 30, 2020 and $0.2 million for the three and nine months ended September 30, 2019. 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 September 30, 2020				ended September 30, 2019
Amounts in thousands	Receivables		Contract Liabilities		Receivables		Contract Liabilities
Opening	$	9		2,193	$	310	$	242
Closing		—		2,014		308		228
Increase/(decrease)	$	(9)	$	(179)	$	(2)	$	(14)
	For the nine months				For the nine months
	ended September 30, 2020				ended September 30, 2019
Amounts in thousands	Receivables		Contract Liabilities		Receivables		Contract Liabilities
Opening	$	326		663	$	305	$	219
Closing		—		2,014		308		228
Increase/(decrease)	$	(326)	$	1,351	$	3	$	9

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 nine months ended September 30, 2020. The increase in contract liabilities for the nine months ended September 30, 2020 relates to deferred revenue for a sports betting agreement entered into by the Company’s subsidiary that owns CRC.

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.