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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues        
Revenues $ 1,354.5 $ 789.7 $ 3,960.2 $ 2,432.6
Operating expenses        
General and administrative 309.7 125.1 883.6 378.9
Depreciation and amortization 106.3 56.9 316.4 175.8
Recoveries on loan loss and unfunded loan commitments, net of impairment losses 0.0 0.0 0.0 (16.4)
Total operating expenses 1,174.7 633.9 3,399.6 1,922.9
Operating income 179.8 155.8 560.6 509.7
Other income (expenses)        
Interest expense, net (133.5) (114.6) (400.5) (345.7)
Income from unconsolidated affiliates 9.8 5.7 21.7 16.8
Loss on early extinguishment of debt 0.0 (0.3) 0.0 (3.8)
Other 7.2 (1.4) 7.2 (1.5)
Total other expenses (116.5) (110.6) (371.6) (334.2)
Income before income taxes 63.3 45.2 189.0 175.5
Income tax expense (19.6) (9.1) (53.0) (40.0)
Net income 43.7 36.1 136.0 135.5
Less: Net loss attributable to non-controlling interest 0.2 0.0 0.4 0.0
Net income attributable to Penn $ 43.9 $ 36.1 $ 136.4 $ 135.5
Earnings per common share:        
Basic earnings per common share (in dollars per share) $ 0.38 $ 0.39 $ 1.18 $ 1.48
Diluted earnings per common share (in dollars per share) $ 0.38 $ 0.38 $ 1.16 $ 1.43
Weighted average basic shares outstanding (in shares) 115.2 91.9 115.8 91.5
Weighted average diluted shares outstanding (in shares) 116.7 95.3 117.7 95.0
Gaming        
Revenues        
Revenues $ 1,088.5 $ 646.3 $ 3,185.2 $ 1,965.9
Operating expenses        
Cost of revenue 587.5 352.0 1,699.1 1,043.2
Food, beverage, hotel and other        
Revenues        
Revenues 266.0 138.8 775.0 403.4
Operating expenses        
Cost of revenue 171.2 96.0 500.5 284.1
Management service and license fees        
Revenues        
Revenues 0.0 0.7 0.0 6.0
Reimbursable management costs        
Revenues        
Revenues 0.0 3.9 0.0 57.3
Operating expenses        
Cost of revenue $ 0.0 $ 3.9 $ 0.0 $ 57.3