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Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2018
Accounting Policies [Abstract]  
Schedule of complimentaries Revenues recorded to food and beverage, hotel, and other and offset to gaming revenues for the year ended December 31, 2018 were as follows:
(in thousands)
For the year ended December 31, 2018
Food and beverage
$
137,179

Hotel
60,859

Other
8,099

Total complimentaries associated with gaming contracts
$
206,137
Schedule of disaggregation of revenue Our revenue disaggregation by type of revenue and geographic location was as follows:
 
For the year ended December 31, 2018
(in thousands)
Northeast
 
South
 
West
 
Midwest
 
Other
 
Total
Revenues:
 
 
 
 
 
 
 
 
 
 
 
Gaming
$
1,644,176

 
$
302,842

 
$
228,055

 
$
719,753

 
$
35

 
$
2,894,861

Food and beverage
109,645

 
56,631

 
89,566

 
57,886

 
1,084

 
314,812

Hotel
23,208

 
23,320

 
90,824

 
26,323

 
—

 
163,675

Racing
20,275

 
—

 
580

 
—

 
5,926

 
26,781

Reimbursable management costs
46,822

 
—

 
10,459

 
—

 
—

 
57,281

Other
47,388

 
11,558

 
18,403

 
19,755

 
33,404

 
130,508

Revenues
$
1,891,514

 
$
394,351

 
$
437,887

 
$
823,717

 
$
40,449

 
$
3,587,918

 
For the year ended December 31, 2017
(in thousands)
Northeast
 
South
 
West
 
Midwest
 
Other
 
Total
Revenues:
 
 
 
 
 
 
 
 
 
 
 
Gaming
$
1,583,882

 
$
202,967

 
$
219,743

 
$
685,429

 
$
—

 
$
2,692,021

Food and beverage
114,993

 
35,532

 
82,406

 
58,414

 
1,052

 
292,397

Hotel
21,513

 
10,340

 
76,147

 
21,959

 
—

 
129,959

Racing
49,596

 
—

 
2,340

 
—

 
10,759

 
62,695

Reimbursable management costs
—

 
—

 
26,060

 
—

 
—

 
26,060

Other
48,645

 
6,263

 
16,605

 
16,404

 
40,417

 
128,334

 
1,818,629

 
255,102

 
423,301

 
782,206

 
52,228

 
3,331,466

Less: Promotional allowances
(62,050
)
 
(30,855
)
 
(42,883
)
 
(47,173
)
 
(535
)
 
(183,496
)
Revenues
$
1,756,579

 
$
224,247

 
$
380,418

 
$
735,033

 
$
51,693

 
$
3,147,970

 
For the year ended December 31, 2016
(in thousands)
Northeast
 
South
 
West
 
Midwest
 
Other
 
Total
Revenues:
 
 
 
 
 
 
 
 
 
 
 
Gaming
$
1,572,378

 
$
166,509

 
$
211,788

 
$
655,587

 
$
—

 
$
2,606,262

Food and beverage
115,834

 
30,692

 
80,003

 
58,370

 
1,313

 
286,212

Hotel
20,888

 
8,843

 
73,180

 
22,493

 
—

 
125,404

Racing
48,063

 
—

 
2,331

 
—

 
15,596

 
65,990

Reimbursable management costs
—

 
—

 
15,997

 
—

 
—

 
15,997

Other
46,900

 
5,646

 
16,260

 
15,454

 
24,916

 
109,176

 
1,804,063

 
211,690

 
399,559

 
751,904

 
41,825

 
3,209,041

Less: Promotional allowances
(62,254
)
 
(25,858
)
 
(38,783
)
 
(47,632
)
 
(134
)
 
(174,661
)
Revenues
$
1,741,809

 
$
185,832

 
$
360,776

 
$
704,272

 
$
41,691

 
$
3,034,380
Schedule of receivables The Company’s receivables as of December 31, 2018 and 2017 primarily consisted of the following:
 
December 31,
(in thousands)
2018
 
2017
Markers issued to customers
$
17,242

 
$
5,237

Cash, credit card, and other advances to customers
20,925

 
13,891

Receivables from automatic teller machine and cash kiosk transactions
19,244

 
2,785

Hotel and banquet receivables
8,142

 
4,566

Receivables due from the West Virginia Lottery (1)
4,358


6,088

Racing settlements
6,064


5,493

Reimbursement of payroll expenses (2)
3,439


3,366

Receivables due from platform providers for social casino game revenues
2,255


3,019

Other
28,329


21,343

Allowance for doubtful accounts
(3,161
)
 
(2,983
)
 
$
106,837

 
$
62,805

(1)
Related to gaming revenue settlements and capital reinvestment projects at Hollywood Casino at Charles Town Races
(2)
Reimbursement of payroll expenses paid on behalf of our joint venture in Kansas Entertainment (as defined below)
Schedule of estimated useful lives of property, plant and equipment Depreciation of property and equipment is recorded using the straight-line method over the following useful lives:
 
Years
Land improvements
15
Buildings and improvements
5 to 31
Vessels
10 to 35
Furniture, fixtures and equipment
3 to 31
Property and equipment, net, consisted of the following:
 
December 31,
(in thousands)
2018
 
2017
Property and equipment - non-Master Leases
 
 
 
Land and improvements
$
343,987

 
$
294,695

Building, vessels and improvements
342,944

 
429,015

Furniture, fixtures and equipment
1,565,830

 
1,385,889

Leasehold improvements
152,943

 
130,801

Construction in progress
25,473

 
15,617

 
2,431,177

 
2,256,017

Less: Accumulated depreciation
(1,400,198
)
 
(1,345,147
)
 
1,030,979

 
910,870

Property and equipment - Master Leases
 
 
 
Land and improvements
2,970,969

 
424,700

Building, vessels and improvements
3,845,062

 
2,258,577

 
6,816,031

 
2,683,277

Less: Accumulated depreciation
(978,242
)
 
(837,478
)
 
5,837,789

 
1,845,799

Property and equipment, net
$
6,868,768

 
$
2,756,669
Schedule of allocation of net income under the two-class method The following table sets forth the allocation of net income for the years ended December 31, 2018, 2017 and 2016 under the two-class method:
 
For the year ended December 31,
(in thousands)
2018
 
2017
 
2016
Net income attributable to Penn National Gaming, Inc.
$
93,519

 
$
473,463

 
$
109,310

Net income applicable to preferred stock
—

 
—

 
8,662

Net income applicable to common stock
$
93,519

 
$
473,463

 
$
100,648
Schedule of reconciliation of the weighted-average common shares outstanding The following table reconciles the weighted-average common shares outstanding used in the calculation of basic EPS to the weighted-average common shares outstanding used in the calculation of diluted EPS for the years ended December 31, 2018, 2017 and 2016:
 
For the year ended December 31,
(in thousands)
2018
 
2017
 
2016
Determination of shares:
 
 
 
 
 
Weighted-average common shares outstanding
97,105

 
90,854

 
82,929

Assumed conversion of dilutive employee stock-based awards
3,018

 
2,431

 
1,299

Assumed conversion of restricted stock
215

 
93

 
42

Diluted weighted-average common share outstanding before participating security
100,338

 
93,378

 
84,270

Assumed conversion of preferred stock
—

 
—

 
7,137

Diluted weighted-average common shares outstanding
100,338

 
93,378

 
91,407
Schedule of calculation of basic and diluted EPS The following table presents the calculation of basic and diluted EPS for the Company’s common stock for the years ended December 31, 2018, 2017 and 2016:
 
For the year ended December 31,
(in thousands, except per share data)
2018
 
2017
 
2016
Calculation of basic EPS:
 
 
 
 
 
Net income applicable to common stock
$
93,519

 
$
473,463

 
$
100,648

Weighted-average common shares outstanding
97,105

 
90,854

 
82,929

Basic EPS
$
0.96

 
$
5.21

 
$
1.21

Calculation of diluted EPS using two-class method:
 
 
 
 
 
Net income applicable to common stock
93,519

 
473,463

 
100,648

Diluted weighted-average common share outstanding before participating security
100,338

 
93,378

 
84,270

Diluted EPS
$
0.93

 
$
5.07

 
$
1.19
Schedule of operating segments within reportable segments For financial reporting purposes, as of December 31, 2018, we aggregate our operating segments into the following reportable segments:
Northeast segment (1)
Location
Ameristar East Chicago
East Chicago, Indiana
Hollywood Casino Bangor
Bangor, Maine
Hollywood Casino at Charles Town Races
Charles Town, West Virginia
Hollywood Casino Columbus
Columbus, Ohio
Hollywood Casino Lawrenceburg
Lawrenceburg, Indiana
Hollywood Casino at Penn National Race Course
Grantville, Pennsylvania
Hollywood Casino Toledo
Toledo, Ohio
Hollywood Gaming at Dayton Raceway
Dayton, Ohio
Hollywood Gaming at Mahoning Valley Race Course
Youngstown, Ohio
Meadows Racetrack and Casino
Washington, Pennsylvania
Plainridge Park Casino
Plainville, Massachusetts
 
 
South segment
Location
1st Jackpot Casino Tunica
Tunica, Mississippi
Ameristar Vicksburg
Vicksburg, Mississippi
Boomtown Biloxi
Biloxi, Mississippi
Boomtown Bossier City
Bossier City, Louisiana
Boomtown New Orleans
New Orleans, Louisiana
Hollywood Casino Tunica
Tunica, Mississippi
Hollywood Casino Gulf Coast
Bay St. Louis, Mississippi
L’Auberge Baton Rouge
Baton Rouge, Louisiana
L’Auberge Lake Charles
Lake Charles, Louisiana
Resorts Casino Tunica
Tunica, Mississippi
 
 
West segment (2)
Location
Ameristar Black Hawk
Black Hawk, Colorado
Cactus Petes and Horseshu
Jackpot, Nevada
M Resort
Henderson, Nevada
Tropicana Las Vegas
Las Vegas, Nevada
Zia Park Casino
Hobbs, New Mexico
 
 
Midwest segment
Location
Ameristar Council Bluffs
Council Bluffs, Iowa
Argosy Casino Alton
Alton, Illinois
Argosy Casino Riverside
Riverside, Missouri
Hollywood Casino Aurora
Aurora, Illinois
Hollywood Casino Joliet
Joliet, Illinois
Hollywood Casino at Kansas Speedway (3)
Kansas City, Kansas
Hollywood Casino St. Louis
Maryland Heights, Missouri
Prairie State Gaming
Illinois
River City Casino
St. Louis, Missouri
(1)
The Northeast segment also included the Company’s Casino Rama management service contract, which terminated in July 2018.
(2)
The West segment also included a management service contract with the JIVDC, which terminated in May 2018.
(3)
Pursuant to a joint venture with International Speedway Corporation (“International Speedway”) and includes the Company’s 50% investment in Kansas Entertainment, LLC (“Kansas Entertainment”), which owns the Hollywood Casino at Kansas Speedway.