Revenue Recognition

12 Months Ended

Dec. 31, 2024

Revenue Recognition [Abstract]

Revenue Recognition

8.  REVENUE RECOGNITION

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

	For the year
	ended December 31,
Amounts in thousands	2024		2023		2022
Revenue from contracts with customers	$	575,919	$	550,206	$	430,529
Cost recovery income		1,066		3,501		1,938
Century Casino Calgary sale earn out revenue		—		1,660		—
Total revenue	$	576,985	$	555,367	$	432,467

The Company operates gaming establishments as well as related lodging, restaurant, horse racing (including off-track betting), sports betting, iGaming, and entertainment facilities in the US, Canada and Poland. 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 geographical location is presented in the tables below.

	For the year ended December 31, 2024
Amounts in thousands		United States		Canada		Poland		Corporate and Other		Total
Gaming	$	293,702	$	48,062	$	78,184	$	—	$	419,948
Pari-mutuel, sports betting and iGaming		9,597		9,419		—		—		19,016
Hotel		47,675		578		—		—		48,253
Food and beverage		45,548		12,566		833		—		58,947
Other		23,146		5,692		883		34		29,755
Net operating revenue	$	419,668	$	76,317	$	79,900	$	34	$	575,919

	For the year ended December 31, 2023
Amounts in thousands		United States		Canada		Poland		Corporate and Other		Total
Gaming	$	272,499	$	46,871	$	92,957	$	61	$	412,388
Pari-mutuel, sports betting and iGaming		10,145		10,020		—		—		20,165
Hotel		41,750		519		—		—		42,269
Food and beverage		36,803		12,532		927		—		50,262
Other		19,394		5,507		221		—		25,122
Net operating revenue	$	380,591	$	75,449	$	94,105	$	61	$	550,206

	For the year ended December 31, 2022
Amounts in thousands		United States		Canada		Poland		Corporate and Other		Total
Gaming	$	232,871	$	43,972	$	88,959	$	184	$	365,986
Pari-mutuel, sports betting and iGaming		8,728		10,879		—		—		19,607
Hotel		9,159		469		—		—		9,628
Food and beverage		12,394		10,860		843		—		24,097
Other		5,430		5,392		367		22		11,211
Net operating revenue	$	268,582	$	71,572	$	90,169	$	206	$	430,529

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 $4.1 million and $2.0 million for the years ended December 31, 2024 and 2023, respectively. This revenue consisted primarily of the Company’s deferred gaming revenue from player points earned through play at the Company’s casinos located in the United States and events at the Nugget. Activity in the Company’s receivables and contract liabilities is presented in the table below.

	For the year ended				For the year ended
	December 31, 2024				December 31, 2023
Amounts in thousands	Receivables		Contract Liabilities		Receivables		Contract Liabilities
Opening	$	1,640	$	4,714	$	1,351	$	2,417
Closing		553		3,644		1,640		4,714
(Decrease)/Increase	$	(1,087)	$	(1,070)	$	289	$	2,297

The 2023 increase in contract liabilities was due to the added contract liabilities from the Nugget and Rocky Gap. The 2024 decrease in contract liabilities was due to less deferred revenue as of December 31, 2024. Receivables are included in accounts receivable and contract liabilities are included in accrued liabilities on the Company’s 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.

Pari-mutuel, sports betting and iGaming revenue includes the following for the years ended December 31, 2024, 2023 and 2022:

	For the year ended December 31,
Amounts in thousands	2024		2023		2022
Pari-mutuel revenue	$	15,202	$	15,980	$	16,310
Sports betting revenue		2,058		3,053		2,734
iGaming revenue		1,756		1,132		563
Total	$	19,016	$	20,165	$	19,607