Revenue Recognition

6 Months Ended

Jun. 30, 2022

Revenue Recognition [Abstract]

Revenue Recognition

11.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 six months
	ended June 30,				ended June 30,
Amounts in thousands	2022		2021		2022		2021
Revenue from contracts with customers	$	111,122	$	92,185	$	214,224	$	164,599
Cost recovery income		—		—		1,938		655
Total revenue	$	111,122	$	92,185	$	216,162	$	165,254

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The Company operates gaming establishments as well as related lodging, restaurant, horse racing (including off-track betting), sports betting, iGaming, and entertainment facilities around the world. The Company generates revenue at its properties by providing the following types of products and services: gaming, pari-mutuel and sports betting, iGaming, hotel, food and beverage, 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 June 30, 2022
Amounts in thousands		United States		Canada		Poland		Corporate and Other		Total
Gaming	$	61,130	$	11,910	$	21,378	$	54	$	94,472
Pari-mutuel, sports betting and iGaming		2,373		2,886		—		—		5,259
Hotel		2,420		121		—		—		2,541
Food and beverage		3,063		2,747		216		—		6,026
Other		1,327		1,373		113		11		2,824
Net operating revenue	$	70,313	$	19,037	$	21,707	$	65	$	111,122

	For the three months ended June 30, 2021
Amounts in thousands		United States		Canada		Poland		Corporate and Other		Total
Gaming	$	67,680	$	3,024	$	8,183	$	15	$	78,902
Pari-mutuel, sports betting and iGaming		2,275		2,382		—		—		4,657
Hotel		2,221		—		—		—		2,221
Food and beverage		3,043		506		55		—		3,604
Other		1,481		746		451		123		2,801
Net operating revenue	$	76,700	$	6,658	$	8,689	$	138	$	92,185

	For the six months ended June 30, 2022
Amounts in thousands		United States		Canada		Poland		Corporate and Other		Total
Gaming	$	119,372	$	21,887	$	43,004	$	84	$	184,347
Pari-mutuel, sports betting and iGaming		3,335		5,354		—		—		8,689
Hotel		4,410		205		—		—		4,615
Food and beverage		5,996		4,662		406		—		11,064
Other		2,443		2,931		121		14		5,509
Net operating revenue	$	135,556	$	35,039	$	43,531	$	98	$	214,224

	For the six months ended June 30, 2021
Amounts in thousands		United States		Canada		Poland		Corporate and Other		Total
Gaming	$	125,591	$	3,021	$	13,702	$	15	$	142,329
Pari-mutuel, sports betting and iGaming		3,206		3,935		—		—		7,141
Hotel		3,971		—		—		—		3,971
Food and beverage		5,727		542		55		—		6,324
Other		2,577		1,168		842		247		4,834
Net operating revenue	$	141,072	$	8,666	$	14,599	$	262	$	164,599

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 $1.1 million and $1.2 million for the three and six months ended June 30, 2022, respectively, and $0.5 million and $0.5 million for the three and six months ended June 30, 2021, 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 June 30, 2022				ended June 30, 2021
Amounts in thousands	Receivables		Contract Liabilities		Receivables		Contract Liabilities
Opening	$	586		2,937	$	472	$	2,227
Closing		749		2,842		739		2,769
Increase/(Decrease)	$	163	$	(95)	$	267	$	542
	For the six months				For the six months
	ended June 30, 2022				ended June 30, 2021
Amounts in thousands	Receivables		Contract Liabilities		Receivables		Contract Liabilities
Opening	$	1,269	$	2,986	$	1,103	$	2,200
Closing		749		2,842		739		2,769
(Decrease)/Increase	$	(520)	$	(144)	$	(364)	$	569

Receivables are included in accounts receivable and contract liabilities are included in accrued liabilities on the Company’s condensed consolidated balance sheets.

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.