Revenue Recognition

6 Months Ended

Jun. 30, 2023

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	2023		2022		2023		2022
Revenue from contracts with customers	$	136,761	$	111,122	$	245,268	$	214,224
Cost recovery income		—		—		3,501		1,938
Century Casino Calgary sale earn out revenue		672		—		1,246		—
Total revenue	$	137,433	$	111,122	$	250,015	$	216,162

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, 2023
Amounts in thousands		United States		Canada		Poland		Corporate and Other		Total
Gaming	$	65,988	$	11,598	$	23,255	$	4	$	100,845
Pari-mutuel, sports betting and iGaming		2,387		2,670		—		—		5,057
Hotel		12,111		124		—		—		12,235
Food and beverage		8,569		3,010		239		—		11,818
Other		5,353		1,432		21		—		6,806
Net operating revenue	$	94,408	$	18,834	$	23,515	$	4	$	136,761

	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 six months ended June 30, 2023
Amounts in thousands		United States		Canada		Poland		Corporate and Other		Total
Gaming	$	124,378	$	22,199	$	48,503	$	61	$	195,141
Pari-mutuel, sports betting and iGaming		3,669		4,773		—		—		8,442
Hotel		14,514		243		—		—		14,757
Food and beverage		11,678		5,438		470		—		17,586
Other		6,533		2,689		120		—		9,342
Net operating revenue	$	160,772	$	35,342	$	49,093	$	61	$	245,268

	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 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 $1.5 million for the three and six months ended June 30, 2023, and $1.1 million and $1.2 million for the three and six months ended June 30, 2022, 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, 2023				ended June 30, 2022
Amounts in thousands	Receivables		Contract Liabilities		Receivables		Contract Liabilities
Opening	$	638	$	2,185	$	586	$	2,937
Closing		652		3,706		749		2,842
Increase/(Decrease)	$	14	$	1,521	$	163	$	(95)
	For the six months				For the six months
	ended June 30, 2023				ended June 30, 2022
Amounts in thousands	Receivables		Contract Liabilities		Receivables		Contract Liabilities
Opening	$	1,351	$	2,417	$	1,269	$	2,986
Closing		652		3,706		749		2,842
(Decrease)/Increase	$	(699)	$	1,289	$	(520)	$	(144)

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.