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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Revenues      
Revenues $ 3,587,918 $ 3,331,466 $ 3,209,041
Less: Promotional allowance 0 (183,496) (174,661)
Revenues 3,587,918 3,147,970 3,034,380
Operating expenses      
General and administrative 618,951 514,487 462,302
Depreciation and amortization 268,990 267,062 271,214
Provision for loan loss and unfunded loan commitments to the JIVDC, net of recoveries, and impairment losses 17,921 107,810 0
Total operating expenses 2,953,826 2,702,256 2,491,364
Operating income 634,092 445,714 543,016
Interest expense (539,417) (466,761) (459,243)
Interest income 1,005 3,552 24,186
Income from unconsolidated affiliates 22,326 18,671 14,337
Loss on early extinguishment of debt (20,964) (23,963) 0
Other (7,121) (2,257) (1,679)
Total other expenses (544,171) (470,758) (422,399)
Income (loss) before income taxes 89,921 (25,044) 120,617
Income tax benefit (expense) 3,593 498,507 (11,307)
Net income 93,514 473,463 109,310
Less: Net loss attributable to non-controlling interest 5 0 0
Net income attributable to Penn National Gaming, Inc. $ 93,519 $ 473,463 $ 109,310
Earnings per common share      
Basic earnings per common share (in dollars per share) $ 0.96 $ 5.21 $ 1.21
Diluted earnings per common share (in dollars per share) $ 0.93 $ 5.07 $ 1.19
Weighted average basic shares outstanding (in shares) 97,105 90,854 82,929
Weighted average diluted shares outstanding (in shares) 100,338 93,378 91,407
Gaming      
Revenues      
Revenues $ 2,894,861 $ 2,692,021 $ 2,606,262
Operating expenses      
Cost of revenue 1,551,430 1,364,989 1,334,980
Food, beverage, hotel and other      
Revenues      
Revenues 629,733 601,731 575,434
Operating expenses      
Cost of revenue 439,253 421,848 406,871
Management service and license fees      
Revenues      
Revenues 6,043 11,654 11,348
Reimbursable management costs      
Revenues      
Revenues 57,281 26,060 15,997
Operating expenses      
Cost of revenue $ 57,281 $ 26,060 $ 15,997