Revenue Recognition

3 Months Ended

Mar. 31, 2025

Revenue Recognition [Abstract]

Revenue Recognition

10.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	2025		2024
Revenue from contracts with customers	$	130,443	$	136,017
Total revenue	$	130,443	$	136,017

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 March 31, 2025
Amounts in thousands		United States		Canada		Poland		Corporate and Other		Total
Gaming	$	69,898	$	10,780	$	19,988	$	—	$	100,666
Pari-mutuel, sports betting and iGaming		987		1,898		—		—		2,885
Hotel		9,580		127		—		—		9,707
Food and beverage		9,393		2,488		225		—		12,106
Other		3,438		1,223		418		—		5,079
Net operating revenue	$	93,296	$	16,516	$	20,631	$	—	$	130,443

	For the three months ended March 31, 2024
Amounts in thousands		United States		Canada		Poland		Corporate and Other		Total
Gaming	$	72,307	$	12,015	$	21,096	$	—	$	105,418
Pari-mutuel, sports betting and iGaming		1,297		2,092		—		—		3,389
Hotel		9,177		125		—		—		9,302
Food and beverage		9,822		2,727		196		—		12,745
Other		3,431		1,362		357		13		5,163
Net operating revenue	$	96,034	$	18,321	$	21,649	$	13	$	136,017

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 $2.4 million for the three months ended March 31, 2025 and $2.8 million for the three months ended March 31, 2024. 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 ended				For the three months ended
	March 31, 2025				March 31, 2024
Amounts in thousands	Receivables		Contract Liabilities		Receivables		Contract Liabilities
Opening	$	553	$	3,644	$	1,640	$	4,714
Closing		493		4,808		1,109		6,064
(Decrease)/Increase	$	(60)	$	1,164	$	(531)	$	1,350

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.