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Document and Entity Information - USD ($) $ in Billions	12 Months Ended
Document and Entity Information - USD ($) $ in Billions	Dec. 31, 2018	Feb. 25, 2019	Jun. 30, 2018
Document And Entity Information [Abstract]
Entity Registrant Name	Eldorado Resorts, Inc.
Entity Central Index Key	0001590895
Document Type	10-K
Document Period End Date	Dec. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 2.5
Entity Common Stock, Shares Outstanding		77,433,982
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY
Trading Symbol	ERI

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
CURRENT ASSETS:
Cash and cash equivalents	$ 230,752	$ 134,596
Restricted cash and investments	24,892	3,267
Marketable securities	16,957	17,631
Accounts receivable, net	60,169	45,797
Due from affiliates	327	243
Inventories	20,595	16,870
Income taxes receivable	15,731	4,805
Prepaid expenses	48,002	27,823
Assets held for sale	155,771
Total current assets	573,196	251,032
Property and equipment, net	2,882,606	1,502,817
Gaming licenses and other intangibles, net	1,362,006	996,816
Goodwill	1,008,316	747,106
Other assets, net	85,338	48,701
Total assets	5,911,462	3,546,472
CURRENT LIABILITIES:
Current portion of long-term debt	462	615
Accounts payable	58,524	34,778
Accrued property, gaming and other taxes	51,931	43,212
Accrued payroll and related	87,332	53,330
Accrued interest	42,780	25,607
Income taxes payable	47,475	171
Accrued other liabilities	102,982	66,038
Liabilities related to assets held for sale	10,691
Total current liabilities	402,177	223,751
Long-term financing obligation to GLPI	959,835
Long-term debt, less current portion	3,261,273	2,189,578
Deferred income taxes	200,010	162,967
Other long-term liabilities	59,014	28,579
Total liabilities	4,882,309	2,604,875
Commitments and contingencies (Note 17)
STOCKHOLDERS' EQUITY:
Common stock, 200,000,000 and 100,000,000 shares authorized, 77,438,889 and 76,825,966 issued and outstanding, net of treasury shares, par value $0.00001 as of December 31, 2018 and December 31, 2017, respectively	1
Paid-in capital	748,076	746,547
Retained earnings	290,206	194,971
Treasury stock at cost, 223,823 shares held at December 31, 2018	(9,131)
Accumulated other comprehensive income	1	79
Total stockholders’ equity	1,029,153	941,597
Total liabilities and stockholders’ equity	$ 5,911,462	$ 3,546,472

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2018	Dec. 31, 2017
Statement Of Financial Position [Abstract]
Common stock, shares authorized	200,000,000	100,000,000
Common stock, shares issued	77,438,889	76,825,966
Common stock, shares outstanding, net of treasury shares	77,438,889	76,825,966
Common stock, par value	$ 0.00001	$ 0.00001
Treasury stock, shares	223,823

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
REVENUES:
Net revenues	$ 2,056,007	$ 1,480,798	$ 900,465
EXPENSES:
Other	38,676	32,156	30,776
Marketing and promotions	106,161	83,174	40,890
General and administrative	349,598	241,037	130,720
Corporate	46,632	30,739	19,880
Impairment charges	13,602	38,016
Depreciation and amortization	157,429	105,891	63,449
Total operating expenses	1,729,014	1,312,525	801,745
Loss on sale or disposal of property and equipment	(835)	(319)	(836)
Proceeds from terminated sales	5,000	20,000
Transaction expenses	(20,842)	(92,777)	(9,184)
Loss from unconsolidated affiliates	(213)	(367)
Operating (loss) income	310,103	94,810	88,700
OTHER EXPENSE:
Interest expense, net	(171,732)	(99,769)	(50,917)
Loss on early retirement of debt, net	(162)	(38,430)	(155)
Unrealized loss on restricted investment	(2,587)
Total other expense	(174,481)	(138,199)	(51,072)
Net income (loss) before income taxes	135,622	(43,389)	37,628
(Provision) benefit for income taxes	(40,387)	116,769	(13,101)
Net income	$ 95,235	$ 73,380	$ 24,527
Net income per share of common stock:
Basic	$ 1.23	$ 1.09	$ 0.52
Diluted	$ 1.22	$ 1.08	$ 0.51
Weighted average number of shares outstanding:
Weighted average basic shares outstanding	77,458,902	67,133,531	47,033,311
Weighted average diluted shares outstanding	78,282,101	68,102,814	47,701,562
Casino
REVENUES:
Net revenues	$ 1,534,954	$ 1,085,014	$ 591,471
EXPENSES:
Cost of goods and services	732,580	547,438	342,433
Pari-mutuel Commissions
REVENUES:
Net revenues	18,437	14,013	8,544
EXPENSES:
Cost of goods and services	16,709	13,651	9,787
Food and Beverage
REVENUES:
Net revenues	247,332	198,246	155,217
EXPENSES:
Cost of goods and services	202,618	169,848	122,598
Hotel
REVENUES:
Net revenues	183,798	133,338	100,462
EXPENSES:
Cost of goods and services	65,009	50,575	41,212
Other
REVENUES:
Net revenues	$ 71,486	$ 50,187	$ 44,771

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 95,235	$ 73,380	$ 24,527
Other comprehensive (loss) income, net of tax:
Defined benefit pension plan—amortization of net (loss) income, net of tax of $(1) and $36 for 2018 and 2017, respectively	(78)	67
Other comprehensive (loss) income	(78)	67
Comprehensive income, net of tax	$ 95,157	$ 73,447	$ 24,527

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Statement Of Income And Comprehensive Income [Abstract]
Defined benefit pension plan-amortization of net (loss) income, tax	$ (1)	$ 36

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income	Treasury Stock
Beginning Balance at Dec. 31, 2015	$ 268,460		$ 170,897	$ 97,551	$ 12
Beginning Balance (in shares) at Dec. 31, 2015		46,817,829
Issuance of restricted stock units	3,341		3,341
Issuance of restricted stock units (in shares)		217,997
Net income	24,527			24,527
Exercise of stock options	$ 385		385
Exercise of stock options (in shares)	132,900	132,900
Shares withheld related to net share settlement of stock awards	$ (744)		(744)
Shares withheld related to net share settlement of stock awards (in shares)		(62,982)
Ending Balance at Dec. 31, 2016	295,969		173,879	122,078	12
Ending Balance (in shares) at Dec. 31, 2016		47,105,744
Isle common stock exchanged at merger	574,811		574,811
Isle common stock exchanged at merger (in shares)		28,468,182
Issuance of restricted stock units	6,322		6,322
Issuance of restricted stock units (in shares)		1,070,552
Other	(487)			(487)
Net income	73,380			73,380
Other comprehensive (loss) income	67				67
Exercise of stock options	$ 2,900		2,900
Exercise of stock options (in shares)	1,185,745	1,185,745
Shares withheld related to net share settlement of stock awards	$ (11,365)		(11,365)
Shares withheld related to net share settlement of stock awards (in shares)		(1,004,257)
Ending Balance at Dec. 31, 2017	941,597		746,547	194,971	79
Ending Balance (in shares) at Dec. 31, 2017		76,825,966
Issuance of restricted stock units	13,084	$ 1	13,083
Issuance of restricted stock units (in shares)		848,737
Purchase of treasury shares	(9,131)	$ (9,100)				$ (9,131)
Purchase of treasury shares, (in shares)		223,823				223,823
Net income	95,235			95,235
Other comprehensive (loss) income	(78)				(78)
Exercise of stock options	$ 154		154
Exercise of stock options (in shares)	120,120	67,336
Shares withheld related to net share settlement of stock awards	$ (11,708)		(11,708)
Shares withheld related to net share settlement of stock awards (in shares)		(303,150)
Ending Balance at Dec. 31, 2018	$ 1,029,153	$ 1	$ 748,076	$ 290,206	$ 1	$ (9,131)
Ending Balance (in shares) at Dec. 31, 2018		77,438,889				223,823

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 95,235	$ 73,380	$ 24,527
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	157,429	105,891	63,449
Amortization of deferred financing costs, discount and debt premium	8,175	6,289	3,520
Loss on early retirement of debt	162	38,430	155
Unrealized loss on restricted investment	2,587
Stock compensation expense	13,084	6,322	3,341
Provision for bad debt	1,552	531	161
Impairment charges	13,602	38,016
Provision (benefit) for deferred income taxes	33,865	(112,561)	11,201
Other	1,662	723	893
Change in operating assets and liabilities:
Sale of trading securities	674	101
Accounts receivable	6,104	(19,110)	(4,874)
Inventories	596	105	687
Prepaid expenses and other assets	(1,215)	(629)	(995)
Accrued interest	1,490	10,974	(344)
Income taxes payable	6,945	(470)
Accounts payable and accrued other liabilities	(18,667)	(18,106)	(6,349)
Net cash provided by operating activities	323,280	129,886	95,372
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment, net	(147,415)	(83,161)	(43,173)
Purchase of restricted investments	(8,008)
Proceeds from sale of property and equipment	1,002	135	1,560
Net cash used in business combinations	(1,113,227)	(1,313,051)	(194)
Investments in and loans to unconsolidated affiliates	(581)	(604)
Net cash used in investing activities	(1,268,229)	(1,396,681)	(41,807)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of long-term debt	846,000	2,325,000
Borrowings under Revolving Credit Facility	315,358	207,953	73,000
Payments under long-term debt		(911,875)	(4,250)
Payments under Revolving Credit Facility	(70,358)	(236,953)	(137,500)
Debt premium proceeds		27,500
Debt issuance costs	(25,758)	(51,526)	(4,288)
Taxes paid related to net share settlement of equity awards	(11,708)	(11,365)	(744)
Proceeds from exercise of stock options	154	2,900	385
Purchase of treasury stock	(9,131)
Payments on other long-term payables	(666)	(533)	(274)
Net cash provided by (used in) financing activities	1,043,891	1,351,101	(73,671)
Increase (decrease) in cash, cash equivalents and restricted cash	98,942	84,306	(20,106)
Cash, cash equivalents and restricted cash, beginning of period	147,749	63,443	83,549
Cash, cash equivalents and restricted cash, end of period	246,691	147,749	63,443
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO AMOUNTS REPORTED WITHIN THE CONSOLIDATED BALANCE SHEETS:
Cash and cash equivalents	230,752	134,596	61,029
Restricted cash	8,884	3,267	$ 2,414
Restricted cash included in other noncurrent assets	$ 7,055	$ 9,886
Restricted Cash,Statement of Financial Position [Extensible List]	us-gaap:OtherAssetsNoncurrent	us-gaap:OtherAssetsNoncurrent	us-gaap:OtherAssetsNoncurrent
Cash, cash equivalents and restricted cash, end of period	$ 246,691	$ 147,749	$ 63,443
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest paid	166,007	84,604	47,696
Income taxes (refunded) paid	(4,134)	246	1,662
NON-CASH FINANCING ACTIVITIES:
Net change in liabilities for capital expenditures	(2,786)	$ (317)	$ 4,222
Change in real property subject to financing obligation	$ (957,300)

Organization and Basis of Presentation

12 Months Ended

Dec. 31, 2018

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Organization and Basis of Presentation

Note 1. Organization and Basis of Presentation

The accompanying consolidated financial statements include the accounts of Eldorado Resorts, Inc. (“ERI” or the “Company”), a Nevada corporation formed in September 2013, and its consolidated subsidiaries.

The Company is a geographically diversified gaming and hospitality company with 28 gaming facilities in 13 states as of December 31, 2018. The Company’s properties, which are located in Ohio, Louisiana, Nevada, New Jersey, Pennsylvania, West Virginia, Colorado, Florida, Iowa, Mississippi, Illinois, Indiana and Missouri, feature approximately 30,000 slot machines and video lottery terminals (“VLTs”), approximately 800 table games and approximately 12,600 hotel rooms. The Company’s primary source of revenue is generated by gaming operations, and the Company utilizes its hotels, restaurants, bars, entertainment, racing, retail shops and other services to attract customers to its properties.

The Company was founded in 1973 by the Carano family with the opening of the Eldorado Hotel Casino in Reno, Nevada. In 1993, the Company partnered with MGM Resorts International to build Silver Legacy Resort Casino, the first mega-themed resort in Reno. In 2005, the Company acquired its first property outside of Reno when it purchased a casino in Shreveport, Louisiana, now known as Eldorado Shreveport. In September 2014, the Company merged with MTR Gaming Group, Inc. and acquired its three gaming and racing facilities in Ohio, Pennsylvania and West Virginia. The following year, in November 2015, the Company acquired Circus Circus Reno and the 50% membership interest in the Silver Legacy that was owned by MGM Resorts International. On May 1, 2017, the Company completed its acquisition of Isle of Capri Casinos, Inc. (“Isle” or “Isle of Capri”), adding 13 gaming properties to its portfolio. On August 7, 2018, the Company acquired the Elgin Riverboat Resort – Riverboat Casino d/b/a Grand Victoria Casino (“Elgin”) (“Elgin Acquisition”). On October 1, 2018, the Company completed its acquisition of Tropicana Entertainment, Inc. (“Tropicana”), adding seven properties to its portfolio (the “Tropicana Acquisition”).

As of December 31, 2018, ERI owned and operated the following properties:

•

Eldorado Resort Casino Reno (“Eldorado Reno”)—A 814-room hotel, casino and entertainment facility connected via an enclosed skywalk to Silver Legacy and Circus Reno located in downtown Reno, Nevada that includes 1,117 slot machines and 36 table games;

•

Silver Legacy Resort Casino (“Silver Legacy”)—A 1,685-room themed hotel and casino connected via an enclosed skywalk to Eldorado Reno and Circus Reno that includes 1,119 slot machines, 48 table games and a 13-table poker room;

•

Circus Circus Reno (“Circus Reno”)—A 1,571-room hotel-casino and entertainment complex connected via an enclosed skywalk to Eldorado Reno and Silver Legacy that includes 722 slot machines;

•

Eldorado Resort Casino Shreveport (“Eldorado Shreveport”)—A 403-room, all suite art deco-style hotel and tri-level riverboat dockside casino situated on the Red River in Shreveport, Louisiana that includes 1,388 slot machines, 52 table games and an eight-table poker room;

•

Mountaineer Casino, Racetrack & Resort (“Mountaineer”)—A 357-room hotel, casino, entertainment and live thoroughbred horse racing facility located on the Ohio River at the northern tip of West Virginia’s northwestern panhandle that includes 1,486 slot machines, 36 table games and a 10-table poker room;

•

Presque Isle Downs & Casino (“Presque Isle Downs”)—A casino and live thoroughbred horse racing facility with 1,596 slot machines, 32 table games and a seven-table poker room located in Erie, Pennsylvania;

•

Eldorado Gaming Scioto Downs (“Scioto Downs”)—A modern “racino” offering 2,238 VLTs, harness racing and a 118-room third party hotel connected to Scioto Downs located 15 minutes from downtown Columbus, Ohio;

•

Isle Casino Hotel—Black Hawk (“Isle Black Hawk”)—A land-based casino on an approximately 10-acre site in Black Hawk, Colorado that includes 966 slot machines, 28 table games, a 10-table poker room and a 238-room hotel;

•

Lady Luck Casino—Black Hawk (“Lady Luck Black Hawk”)—A land-based casino across the intersection from Isle Casino Hotel in Black Hawk Colorado, that includes 442 slot machines, seven table games and a 164-room hotel with a parking structure connecting Isle Black Hawk and Lady Luck Black Hawk;

•

Isle Casino Racing Pompano Park (“Pompano”)—A casino and harness racing track on an approximately 223-acre owned site in Pompano Beach, Florida that includes 1,596 slot machines and a 39-table poker room;

•

Isle Casino Bettendorf (“Bettendorf”)—A land-based single-level casino located off Interstate 74 in Bettendorf, Iowa that includes 969 slot machines and 15 table games with two hotel towers with 509 hotel rooms;

•

Isle Casino Waterloo (“Waterloo”)—A single-level land-based casino in Waterloo, Iowa that includes 939 slot machines, 23 table games, and a 194-room hotel;

•

Isle of Capri Casino Hotel Lake Charles (“Lake Charles”)—A gaming vessel on an approximately 19-acre site in Lake Charles, Louisiana, with 1,164 slot machines, 34 table games, 11 poker tables, and two hotels offering 493 rooms;

•

Isle of Capri Casino Lula (“Lula”)—Two dockside casinos in Lula, Mississippi with 862 slot machines and 25 table games, two on-site hotels with a total of 486 rooms and a 28-space RV Park;

•

Lady Luck Casino Vicksburg (“Vicksburg”)—A dockside casino in Vicksburg, Mississippi that includes 607 slot machines and a hotel with a total of 89 rooms;

•

Isle of Capri Casino Boonville (“Boonville”)—A single-level dockside casino in Boonville, Missouri that includes 881 slot machines, 20 table games and a 140-room hotel;

•

Isle Casino Cape Girardeau (“Cape Girardeau”)—A dockside casino and pavilion and entertainment center in Cape Girardeau, Missouri that includes 863 slot machines, 20 table games and four poker tables;

•

Lady Luck Casino Caruthersville (“Caruthersville”)—A riverboat casino located along the Mississippi River in Caruthersville, Missouri that includes 507 slot machines and nine table games;

•

Isle of Capri Casino Kansas City (“Kansas City”)—A dockside casino located close to downtown Kansas City, Missouri offering 938 slot machines and 13 table games;

•

Lady Luck Casino Nemacolin (“Nemacolin”)—A casino property located on the 2,000-acre Nemacolin Woodlands Resort in Western Pennsylvania that includes 600 slot machines and 28 table games;

•

Tropicana Casino and Resort, Atlantic City (“Trop AC”)—A casino and resort situated on approximately 15 acres with approximately 660 feet of ocean frontage in Atlantic City, New Jersey that includes approximately 2,464 slot machines, 107 table games, 18 poker tables and 2,366 hotel rooms;

•

Tropicana Evansville (“Evansville”)—A casino hotel and entertainment complex in Evansville, Indiana featuring 1,128 slot machines, 33 table games, eight poker tables and two on-site hotels with a total of 338 rooms;

•

Lumière Place Casino (“Lumière”)—A casino located on approximately 20 acres, located in historic downtown St. Louis, Missouri near business and entertainment districts and overlooks the Mississippi River with approximately 1,401 slot machines, 48 table games, 10 poker tables and 494 hotel rooms;

•

Tropicana Laughlin Hotel and Casino (“Laughlin”)—A casino in Casino Drive, Laughlin, Nevada that includes approximately 895 slot machines, 20 table games and 1,487 hotel rooms;

•

MontBleu Casino Resort & Spa (“MontBleu”)—A casino situated on approximately 21 acres in South Lake Tahoe, Nevada surrounded by the Sierra Nevada Mountains featuring approximately 474 slot machines, 17 table games and 438 hotel rooms;

•

Trop Casino Greenville (“Greenville”)—A landside gaming facility located in Greenville, Mississippi with approximately 590 slot machines, 10 table games and 40 hotel rooms;

•

Belle of Baton Rouge Casino & Hotel (“Baton Rouge”)—A dockside riverboat situated on approximately 23 acres on the Mississippi River in the downtown historic district of Baton Rouge featuring approximately 773 slot machines, 14 table games and 288 hotel rooms; and

•

Grand Victoria Casino (“Elgin”)—A casino located in Elgin, Illinois featuring approximately 1,088 slot machines and 30 table games.

In addition, Scioto Downs, through its subsidiary RacelineBet, Inc., also operates Racelinebet.com, a national account wagering service that offers online and telephone wagering on horse races as a marketing affiliate of TwinSpires.com, an affiliate of Churchill Downs Incorporated.

The Company sold Presque Isle Downs in January 2019 and has entered into an agreement to sell Nemacolin. The Nemacolin sale is expected to close in the first quarter of 2019 (See Note 5).

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 2. Summary of Significant Accounting Policies

Principles of Consolidation. The accompanying consolidated financial statements include the accounts of the Company as described in Note 1. All significant intercompany transactions have been eliminated in consolidation.

Use of Estimates. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates incorporated into the Company’s consolidated financial statements include useful lives for depreciable and amortizable assets, allowance for doubtful accounts receivable, cash flows in assessing goodwill and indefinite-lived intangible assets for impairment and the recoverability of long‑lived assets, self‑insurance reserves, players’ loyalty program liabilities, contingencies and litigation, claims and assessments, and fair value measurements related to the Company’s long‑term debt. Actual results could differ from these estimates.

Cash and Cash Equivalents. Cash equivalents include investments in money market funds. Investments can be redeemed immediately at the current net asset value per share. A money market fund is a mutual fund whose investments are primarily in short‑term debt securities designed to maximize current income with liquidity and capital preservation, usually maintaining per share net asset value at a constant amount, such as one dollar. Cash and cash equivalents also include cash maintained for gaming operations. The carrying amounts approximate the fair value because of the short maturity of those instruments (Level 1).

Restricted Cash and Investments. Restricted cash includes cash and certificates of deposit; restricted investments consist primarily of trading securities held by the Company’s captive insurance subsidiary. The trading securities are primarily debt and equity securities that are purchased with the intention to resell in the near term. The trading securities are carried at fair value with changes in fair value recognized in current period income. Balances are reserved for unredeemed winning tickets from the Company’s racing operations, funds related to horsemen’s fines and certain simulcasting funds that are restricted to payments for improving horsemen’s facilities and racing purses, cash deposits that serve as collateral for letters of credit, surety bonds and certificates of deposit that serve as collateral for certain bonding requirements, and serve as security for certain insurance coverage and land leases. In addition, the Company holds shares in a publicly traded company with a time restriction on when they can be sold. The restriction expires in November 2019.

The estimated fair values of our restricted cash and investments are based upon quoted prices available in active markets (Level 1), or quoted prices for similar assets in active and inactive markets (Level 2), or unobservable inputs that are not corroborated by market data (Level 3) and represent the amounts we would expect to receive if we sold our restricted cash and investments. Restricted cash and investments are reported on the face of the Consolidated Balance Sheets and in Other assets, net.

Marketable Securities. Marketable securities consist primarily of trading securities held by the Company’s captive insurance subsidiary. The trading securities are primarily debt and equity securities that are purchased with the intention to resell in the near term. The trading securities are carried at fair value with changes in fair value recognized in current period income. For the year ended December 31, 2018, we recorded a $43,000 loss related to the change in fair value which is included in corporate expenses in the accompanying statements of income.

CRDA Investments. The New Jersey Casino Reinvestment Development Authority (“CRDA”) cash deposits made by Trop AC are carried at fair value. The CRDA deposits are used to purchase CRDA bonds that carry below market interest rates. An allowance is established by a charge to the Consolidated Statements of Income as part of general and administrative expense. When the CRDA deposits are used to purchase CRDA bonds, the allowance is transferred to the bonds as a discount, which is amortized to interest income using the interest method. The CRDA bonds are classified as held-to-maturity securities and are carried at amortized cost less any adjustments for other than temporary impairments.

Accounts Receivable and Credit Risk. Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of casino accounts receivable. The Company issues markers to approved casino customers following background checks and assessments of creditworthiness. Trade receivables, including casino and hotel receivables, are typically non‑interest bearing. Accounts are written off when management deems the account to be uncollectible. Recoveries of accounts previously written off are recorded when received. An estimated allowance for doubtful accounts is maintained to reduce the Company’s receivables to their carrying amount, which approximates fair value. The allowance is estimated based on specific review of customer accounts as well as historical collection experience and current economic and business conditions. Management believes that as of December 31, 2018 and 2017, no significant concentrations of credit risk related to receivables existed.

Inventories. Inventories are stated at the lower of average cost, using a first‑in, first‑out basis, or net realizable value. Inventories consist primarily of food and beverage, retail merchandise and operating supplies.

Corporate Expense. Corporate expense represents unallocated payroll, travel costs, professional fees and various other expenses not directly related to the Company’s casino resort operations. In addition, corporate expense includes costs associated with the Company’s evaluation and pursuit of new business opportunities, which are expensed as incurred.

Preopening and Start-up Expenses. Preopening and start-up costs, including organizational costs, are expensed as incurred. Costs classified as preopening and start-up expenses include payroll, outside services, advertising, and other expenses related to new or start-up operations. Expenses are reported in operating expenses on the Consolidated Statements of Income.

Property and Equipment. Property and equipment are stated at cost. Depreciation is computed using the straight‑line method over the estimated useful life of the asset or the term of the lease, whichever is less. Costs of major improvements are capitalized, while costs of normal repairs and maintenance are charged to expense as incurred. Gains or losses on the disposal of property and equipment are included in operating income.


Buildings and improvements		10 to 40 years
Land improvements		10 to 20 years
Furniture, fixtures and equipment		3 to 20 years
Riverboats		5 to 25 years

The Company evaluates its property and equipment and other long-lived assets for impairment based on its classification as held for sale or to be held and used. Several criteria must be met before an asset is classified as held for sale, including that management with the appropriate authority commits to a plan to sell the asset at a reasonable price in relation to its fair value and is actively seeking a buyer. For assets held for sale, the Company recognizes the asset at the lower of carrying value or fair market value less costs to sell, as estimated based on comparable asset sales, offers received, or a discounted cash flow model. For assets to be held and used, the Company reviews for impairment whenever indicators of impairment exist. The Company then compares the estimated future cash flows of the asset, on an undiscounted basis, to the carrying value of the asset. If the undiscounted cash flows exceed the carrying value, no impairment is indicated. If the undiscounted cash flows do not exceed the carrying value, then an impairment charge is recorded. All recognized impairment losses, whether for assets held for sale or assets to be held and used, are recorded as operating expenses. For the years ended December 31, 2018, 2017 and 2016, no impairment charges were recorded for assets held and used. For the year ended December 31, 2018, an impairment charge of $3.8 million was recorded related to the property and equipment held for sale at Nemacolin (see Note 5); no impairment was recorded for the years ended December 31, 2017 and 2016.

Investments in and Advances to Unconsolidated Affiliates. The Company’s investments in unconsolidated affiliates which are 50% or less owned are accounted for under the equity method and are included in other assets, net. The Company does have variable interests in variable interest entities; however, we are not the primary beneficiary. All intercompany balances and transactions have been eliminated in consolidation.

The Company considers whether the fair values of any of its equity method investments have declined below their carrying value whenever adverse events or changes in circumstances indicate that recorded values may not be recoverable. Estimated fair value is determined using a discounted cash flow analysis based on estimated future results of the investee. There were no impairments of the Company’s equity method investments during 2018, 2017 or 2016.

Goodwill and Other Intangible Assets. Goodwill represents the excess of purchase price over fair market value of net assets acquired in business combinations. Goodwill and indefinite-lived intangible assets must be reviewed for impairment at least annually and between annual test dates in certain circumstances. The Company performs its annual impairment tests as of October 1 of each fiscal year. As a result of the annual impairment review for goodwill and indefinite-lived intangible assets, the Company recorded impairment charges of $34.9 million and $3.1 million related to goodwill and trade names, respectively, in 2017. No impairments were indicated as a result of the annual impairment review for goodwill and indefinite-lived intangible assets in 2018 and 2016. However, in conjunction with the classification of Vicksburg’s operations as assets held for sale at March 31, 2018, an impairment charge totaling $9.8 million to goodwill was recorded (see Note 5).

Indefinite‑lived intangible assets consist primarily of expenditures associated with obtaining racing and gaming licenses. Indefinite‑lived intangible assets are not subject to amortization but are subject to an annual impairment test. If the carrying amount of an indefinite‑lived intangible asset exceeds its fair value, an impairment loss is recognized in an amount equal to that excess amount.

Finite-lived intangible assets consist of trade names and player loyalty programs acquired in business combinations. Amortization is completed using the straight-line method over the estimated useful life of the asset. The Company evaluates for impairment whenever indicators of impairment exist. When indicators are noted, the Company then compares estimated future cash flows, undiscounted, to the carrying value of the asset. If the undiscounted cash flows exceed the carrying value, no impairment is recorded. For the years ended December 31, 2018, 2017 and 2016, no impairment charges were recorded.

Non‑Operating Real Properties. We have designated certain assets, consisting principally of land and undeveloped properties, as non‑operating real property and have declared our intent to sell those assets. However, we do not anticipate that we will sell the majority of the assets within the next twelve months. As such, these properties are not classified as held‑for‑sale as of December 31, 2018. For undeveloped properties, including non‑operating real properties, when indicators of impairment are present, properties are evaluated for impairment and losses are recorded when undiscounted cash flows estimated to be generated by an asset or market comparisons are less than the asset’s carrying amount. The amount of the impairment loss is calculated as the excess of the asset’s carrying value over its fair value, which is determined using a discounted cash flow analysis, management estimates or market comparisons. No impairment indicators were noted for the years ended December 31, 2018, 2017 and 2016.

Financing Obligation with GLPI. Substantially concurrently with the consummation of the Tropicana Acquisition, the Company entered into the Master Lease with Gaming and Leisure Properties Inc. (“GLPI”) (see Note 3). The Master Lease was evaluated as a sale-leaseback of real estate; however, based on certain prohibited forms of continuing involvement in the leased assets, the Master Lease did not qualify for sale-leaseback accounting and was accounted for as a financing obligation. Under a failed sale-leaseback transaction, the real estate assets generally remain on the consolidated balance sheet at their historical net book value and are depreciated over their remaining useful lives with a failed sale-leaseback financing obligation recognized for the proceeds received. However, in the absence of cash proceeds, the value of the failed sale-leaseback financing obligations recognized is determined to be the fair value of the leased real estate assets. As a result, the Company calculated a financing obligation at the inception of the Master Lease based on the fair value of the real estate assets subject to the Master Lease (see Note 10).

As described above, for failed sale-leaseback transactions, the Company continues to reflect the real estate assets on the Consolidated Balance Sheets as if the Company were the legal owner, and the Company continues to recognize depreciation expense over the estimated useful lives. We do not recognize rent expense related to these leased assets, rather we have recorded a liability for the failed sale-leaseback obligation and the minimum lease payments are recognized as interest expense. In the initial periods, cash payments are less than the interest expense recognized in the Consolidated Statements of Income, which causes the failed sale-leaseback obligation to increase during the initial years of the lease term (see Note 10).

Self‑Insurance Reserves. The Company is self‑insured for various levels of general liability, employee medical insurance coverage and workers’ compensation coverage. Insurance claims and reserves include accruals of estimated settlements for known claims, as well as accruals of estimates for claims incurred but not yet reported. We utilize independent consultants to assist management in its determination of estimated insurance liabilities. While the total cost of claims incurred depends on future developments, in managements’ opinion, recorded reserves are adequate to cover future claims payments. Self-insurance reserves for employee medical claims and workers’ compensations are included in accrued payroll and related on the Consolidated Balance Sheets. Self-insurance reserves for general liability claims are included in accrued other liabilities on the Consolidated Balance Sheets.

Treasury Shares. We account for the repurchase of our shares at the amount of consideration paid. The repurchased shares are classified as treasury shares and are presented as a deduction from equity. When treasury shares are sold or reissued subsequently, the amount received is recognized as an increase in equity and the resulting surplus or deficit on the transaction is presented within additional paid-in capital.

Outstanding Chip Liability. The Company recognizes the impact on gaming revenues on an annual basis to reflect an estimate of the change in the value of outstanding chips that are not expected to be redeemed. This estimate is determined by measuring the difference between the total value of chips placed in service less the value of chips in the inventory of chips under our control. This measurement is performed on an annual basis utilizing a methodology in which a consistent formula is applied to estimate the percentage value of chips not in custody that are not expected to be redeemed. In addition to the formula, certain judgments are made with regard to various denominations and souvenir chips. The outstanding chip liability is included in accrued other liabilities on the Consolidated Balance Sheets.

Player Loyalty Program. The Company offers programs at its properties whereby participating customers can accumulate points for wagering that can be redeemed for credits for free play on slot machines, lodging, food and beverage, merchandise and, in limited situations, cash. The incentives earned by customers under these programs are based on previous revenue transactions and represent separate performance obligations. Points earned, less estimated breakage, are recorded as a reduction of casino revenues at the standalone selling price of the points when earned based upon the retail value of the benefits, historical redemption rates and estimated breakage and recognized as departmental revenue based on where such points are redeemed upon fulfillment of the performance obligation. The loyalty program liability represents a deferral of revenue until redemption occurs, which is typically less than one year.

Complimentaries. The Company offers discretionary coupons and other discretionary complimentaries to customers outside of the loyalty program. The retail value of complimentary food, beverage, hotel rooms and other services provided to customers is recognized as a reduction to the revenues for the department which issued the complimentary and a credit to the revenue for the department redeemed. Complimentaries provided by third parties at the discretion and under the control of the Company is recorded as an expense when incurred.

The Company’s revenues included complimentaries and loyalty point redemptions totaling $210.8 million, $172.4 million and $112.8 million for the years ended December 31, 2018, 2017 and 2016, respectively.

Casino Revenue and Pari-mutuel Commissions. The Company recognizes as casino revenue the net win from gaming activities, which is the difference between gaming wins and losses, not the total amount wagered. Progressive jackpots are accrued and charged to revenue at the time the obligation to pay the jackpot is established. Gaming revenues are recognized net of certain cash and free play incentives. Pari-mutuel commissions consist of commissions earned from thoroughbred and harness racing and importing of simulcast signals from other race tracks and are recognized at the time wagers are made. Such commissions are a designated portion of the wagering handle as determined by state racing commissions and are shown net of the taxes assessed by state and local agencies, as well as purses and other contractual amounts paid to horsemen associations. The Company recognizes revenues from fees earned through the exporting of simulcast signals to other race tracks at the time wagers are made and recorded on a gross basis. Such fees are based upon a predetermined percentage of handle as contracted with the other race tracks.

Non-gaming Revenue. Hotel, food and beverage, and other operating revenues are recognized as services are performed and is the net amount collected from the customer for such goods and services. Hotel, food and beverage services have been determined to be separate, stand-alone performance obligations and is recorded as revenue as the good or service is transferred to the customer over the customer’s stay at the hotel or when the delivery is made for the food and beverage. Advance deposits for future hotel occupancy, convention space or food and beverage services contracts are recorded as deferred income until the revenue recognition criteria has been met. The Company also provides goods and services that may include multiple performance obligations, such as for packages, for which revenues are allocated on a pro rata basis based on each service's stand-alone selling price.

The Company’s Consolidated Statements of Income presents net revenue disaggregated by type or nature of the good or service. A summary of net revenues disaggregated by type of revenue and reportable segment is presented below (amounts in thousands). Refer to Note 19 for a discussion of the Company’s reportable segments.

	Year Ended December 31, 2018
	West		Midwest		South		East		Central		Corporate and Other		Total
Casino	$	230,571	$	345,499	$	365,365	$	476,993	$	116,526	$	—	$	1,534,954
Pari-mutuel commissions		—		—		10,383		8,054		—		—		18,437
Food and beverage		109,038		27,364		52,924		43,167		14,839		—		247,332
Hotel		108,327		16,365		24,792		26,694		7,620		—		183,798
Other		35,596		7,780		7,717		16,364		3,500		529		71,486
Net revenues	$	483,532	$	397,008	$	461,181	$	571,272	$	142,485	$	529	$	2,056,007

	Year Ended December 31, 2017
	West		Midwest		South		East		Central		Corporate and Other		Total
Casino	$	186,779	$	231,366	$	262,937	$	403,932	$	—	$	—	$	1,085,014
Pari-mutuel commissions		—		—		5,743		8,270		—		—		14,013
Food and beverage		102,244		20,452		42,114		33,436		—		—		198,246
Hotel		91,811		12,177		21,459		7,891		—		—		133,338
Other		29,485		4,884		6,006		9,306		—		506		50,187
Net revenues	$	410,319	$	268,879	$	338,259	$	462,835	$	—	$	506	$	1,480,798

	Year Ended December 31, 2016
	West		Midwest		South		East		Central		Corporate and Other		Total
Casino	$	121,623	$	—	$	92,108	$	377,740	$	—	$	—	$	591,471
Pari-mutuel commissions		—		—		—		8,544		—		—		8,544
Food and beverage		96,708		—		26,133		32,376		—		—		155,217
Hotel		79,880		—		12,246		8,336		—		—		100,462
Other		29,330		—		3,070		12,371		—		—		44,771
Net revenues	$	327,541	$	—	$	133,557	$	439,367	$	—	$	—	$	900,465

Advertising. Advertising costs are expensed in the period the advertising initially takes place and are included in marketing and promotions expenses. Advertising costs included in marketing and promotion expenses were $33.9 million, $33.0 million and $15.5 million for the years ended December 31, 2018, 2017 and 2016, respectively.

Income Taxes. We account for income taxes in accordance with ASC Topic 740, Income Taxes (“ASC 740”). ASC 740 requires the recognition of deferred income tax liabilities and deferred income tax assets for the difference between the book basis and tax basis of assets and liabilities. We have recorded valuation allowances related to certain state-specific net operating loss carry forwards and temporary differences. Recognizable future tax benefits are subject to a valuation allowance, unless such tax benefits are determined to be more-likely-than-not realizable. We recognize accrued interest and penalties related to unrecognized tax benefits in income tax expense.

Stock‑Based Compensation. We account for stock‑based compensation in accordance with ASC Topic 718, Compensation—Stock Compensation (“ASC 718”). ASC 718 requires all share‑based payments to employees and non‑employee members of the Board of Directors, including grants of stock options and restricted stock units (“RSUs”), to be recognized in the Consolidated Statements of Income based on their fair values and that compensation expense be recognized for awards over the requisite service period of the award or until an employee’s eligible retirement date, if earlier.

Earnings per Share. Basic earnings per share is computed by dividing net income (loss) by the weighted average shares outstanding during the reporting period. Diluted earnings per share is computed similarly to basic earnings per share except that the weighted average shares outstanding are increased to include additional shares from the assumed exercise of stock options and the assumed vesting of restricted share units, if dilutive. The number of additional shares is calculated by assuming that outstanding stock options were exercised, that outstanding restricted share units were released and that the proceeds from such activities were used to acquire shares of common stock at the average market price during the reporting period.

Reclassifications

Certain reclassifications of prior period presentations have been made to conform to the current period presentation.

Recently Issued Accounting Pronouncements

Pronouncements Implemented in 2018

In May 2014 (amended January 2017), the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (ASC 606) which provides a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and eliminates existing industry guidance, including revenue recognition guidance specific to the gaming industry. The core principle of the revenue model indicates that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.

The Company adopted this standard effective January 1, 2018 and elected to apply the full retrospective adoption method. The adoption of ASC 606 on January 1, 2018 principally affected the presentation of promotional allowances and how the Company measured the liability associated with our customer loyalty programs. The presentation of gross revenues for complimentary goods and services provided to guests with a corresponding offsetting amount included in promotional allowances was eliminated. This adjustment in presentation of promotional allowances did not have an impact on the Company’s historically reported net revenues. The majority of such amounts previously included in promotional allowances now offset casino revenues based on an allocation of revenues using stand-alone selling price. Food, beverage, hotel and other services furnished to our guests on a complimentary basis are measured at the respective estimated standalone selling prices and included as revenues within food and beverage, hotel, and other, which generally resulted in a corresponding decrease in gaming revenues. The costs of providing such complimentary goods and services are included as expenses within food and beverage, hotel, and other.

Additionally, as a result of the adoption of the new standard, certain adjustments and other reclassifications to and between revenue categories and to and between expense categories were required; however, the amounts associated with such adjustments did not have a significant impact on the Company’s previously reported operating income or net income.

Liabilities associated with our player loyalty programs are no longer valued at cost; rather a deferred revenue model is used to account for the classification and timing of revenue to be recognized related to the redemption of player loyalty program liabilities by our customers. Points earned under the Company’s player loyalty programs are deemed to be separate performance obligations and recorded as a reduction of casino revenues when earned at the retail value of such benefits owed to the customer and recognized as departmental revenue based on where such points are redeemed, upon fulfillment of the performance obligation.

The Company elected to adopt the full retrospective method to apply the new guidance to each prior reporting period presented as if it had been in effect since January 1, 2015, with a pre-tax cumulative effect adjustment to our retained earnings upon adoption totaling $4.7 million. Net of tax, the cumulative effect adjustment to our retained earnings upon adoption was $3.5 million. This was primarily related to our player loyalty program point liability, which increased from an estimated incremental cost model to a deferred revenue model at retail value.

In January 2017, the FASB issued ASU No. 2017-01, Business Combinations – Clarifying the Definition of a Business. This amendment was intended to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisition (or disposals) of assets or businesses. Amendments in this update provide a more robust framework to use in determining when a set of assets and activities is a business and to provide more consistency in applying the guidance, reduce the costs of application, and make the definition of a business more operable. The amendments were effective for interim and annual periods beginning after December 15, 2017. We adopted this accounting standard during the first quarter of 2018, and it had no impact on our Consolidated Financial Statements or disclosures.

In November 2016, the FASB issued ASU No. 2016-18, Statement of Cashflows (Topic 230): Restricted Cash related to the inclusion of restricted cash in the statement of cash flows. This new guidance required that a statement of cash flows present the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalent. This update was effective in fiscal years, including interim periods, beginning after December 15, 2017. The Company adopted this standard effective January 1, 2018 and elected to apply the full retrospective adoption method. Upon adoption, the Company included a reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Balance Sheets to the total shown in the Consolidated Statements of Cash Flows. Adoptions of this guidance had no other impact on the Consolidated Financial Statements or disclosures. Certain amounts have been retrospectively reclassified for the years ended December 31, 2017 and 2016 to reflect the change in the Company’s Consolidated Statements of Cash Flows required with the adoption of ASU No. 2016-18.

In August 2016, the FASB issued ASU No. 2016-15, Classification of Certain Cash Receipts and Cash Payments. This new guidance was intended to reduce diversity in practice in how certain cash receipts and payments are classified in the Statement of Cash Flows, including debt prepayment or extinguishment costs, the settlement of contingent liabilities arising from a business combination, proceeds from insurance settlements, and distributions from certain equity method investees. The guidance was effective for interim and annual periods beginning after December 15, 2017. The guidance required application using a retrospective transition method. We adopted this standard effective January 1, 2018. The adoption of this standard did not have a significant impact on our Consolidated Statements of Cash Flows.

Pronouncements to Be Implemented in Future Periods

In June 2016 (modified in November 2018), the FASB issued ASU No 2016-13, Financial Instruments – Credit Losses related to timing on recognizing impairment losses on financial assets. The new guidance lowers the threshold on when losses are incurred, from a determination that a loss is probable to a determination that a loss is expected. The change in guidance will be applicable to our evaluation of the CRDA investments obtained through the Tropicana acquisition. The guidance is effective for interim and annual periods beginning after December 15, 2019, and early adoption is allowed for interim and annual periods beginning after December 15, 2018. Adoption of the guidance will require a modified-retrospective approach and a cumulative adjustment to retained earnings to the first reporting period that the update is effective. We currently anticipate adopting this guidance during the first quarter of 2019 and do not expect a cumulative effect on our Consolidated Financial Statements.

In August 2018, the FASB issued ASU 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract. This amendment aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal use software license). This generally means that an intangible asset is recognized for the software license and, to the extent that the payments attributable to the software license are made over time, a liability also is recognized. If a cloud computing arrangement does not include a software license, the entity should account for the arrangement as a service contract. This generally means that the fees associated with the hosting element (service) of the arrangement are expensed as incurred. The amendment is effective for annual and interim periods beginning after December 15, 2019, with early adoption allowed. We expect to adopt the new guidance on January 1, 2020 and are evaluating the qualitative and quantitative effects of the new guidance, but do not believe it will have a significant impact on our Consolidated Financial Statements.

In August 2018, the FASB issued ASU No 2018-14, Compensation –Retirement Benefits – Defined Benefit Plans – General. This amendment improves disclosures over defined benefit plans and is effective for interim and annual periods ending after December 15, 2020 with early adoption allowed. We anticipate adopting this amendment during the first quarter of 2021, and do not expect it to have a significant impact on our Consolidated Financial Statements

In August 2018, the FASB issued ASU 2018-13, Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement. This amendment modifies the disclosure requirements for fair value measurements and is effective for annual and interim periods beginning after December 15, 2019, with early adoption allowed. The Company is evaluating the qualitative and quantitative effect the new guidance will have on our Consolidated Financial Statements.

In February 2016 (as amended through December 2018), the FASB issued ASU No. 2016-02 codified as Accounting Standards Codification (“ASC”) 842, Leases, (“ASC 842”) which addresses the recognition and measurement of leases. Under the new guidance, for all leases (with the exception of short-term leases), at the commencement date, lessees will be required to recognize a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis, and a right-of-use (“ROU”) asset, which is an asset that represents the lessee’s right to control the use of a specified asset for the lease term. Under the new guidance, lessor accounting is largely unchanged. The effective date for this update is for the annual and interim periods beginning after December 15, 2018 with early adoption permitted. ASC 842 requires a transition adoption election using either 1) a modified retrospective approach with periods prior to the adoption date being recast or 2) a prospective adoption approach with a cumulative-effect adjustment recognized to the opening balance of retained earnings on the adoption date with prior periods continuing to be reported under current lease accounting guidance.

The Company will adopt ASC 842 on January 1, 2019 using the prospective adoption approach, and therefore, comparative periods will continue to be reported under current lease accounting guidance consistent with previously issued financial statements. We currently expect to elect the package of practical expedients permitted under the transition guidance within ASC 842, which among other things, allows us to carry forward the historical lease identification, lease classification and treatment of initial direct costs for leases entered into prior to January 1, 2019. We will also make an accounting policy election to not record short-term leases with an initial term of 12 months or less on the balance sheet for all classes of underlying assets. We have also elected to not adopt the hindsight practical expedient for determining lease terms.

Currently, the Company has operating leases in which the Company is the lessor and we expect such arrangements will be accounted for in the same manner. Our operating leases, in which we are the lessee, will be recorded on the balance sheet as an ROU asset with a corresponding lease liability. The lease liability will be remeasured each reporting period with a corresponding change to the ROU. The qualitative and quantitative effects of adoption of ASC 842 are still being analyzed, and the Company is in the process of evaluating the full effect, including the total amount of both financing and operating leases, the new guidance will have on our Consolidated Financial Statements. We have substantially completed the process of collecting and analyzing the Company’s lease contracts but our implementation effort for our new leasing software and selection of incremental borrowing rates are ongoing. Additionally, we are in the process of evaluating our existing failed sale leaseback transactions that are currently accounted for as financing obligations. While our assessment of the impacts of the standard remains open, we do not believe the standard will significantly impact our consolidated net income.

Acquisitions, Purchase Price Accounting and Pro forma Information

12 Months Ended

Dec. 31, 2018

Business Combinations [Abstract]

Acquisitions, Purchase Price Accounting and Pro forma Information

Note 3. Acquisitions, Purchase Price Accounting and Pro forma Information

Tropicana

Acquisition Summary

On April 15, 2018 the Company announced that it had entered into a definitive agreement to acquire Tropicana in a cash transaction valued at $1.9 billion. At the closing of the transaction on October 1, 2018, a subsidiary of the Company merged into Tropicana and Tropicana became a wholly-owned subsidiary of the Company. Immediately prior to the merger, Tropicana sold Tropicana Aruba Resort and Casino and GLPI acquired substantially all of Tropicana’s real estate, other than the real estate underlying MontBleu and Lumière, for approximately $964 million and the Company acquired Tropicana’s operations and certain real estate for $927.3 million. Substantially concurrently with the acquisition of the real estate portfolio by GLPI, the Company also entered into a triple net master lease (see Note 10). The Company funded the purchase of the real estate underlying Lumière with the proceeds of a $246 million loan (see Note 11) and funded the remaining consideration payable with cash on hand at the Company and Tropicana, borrowings under the Company’s revolving credit facility and proceeds from the Company’s offering of $600 million in aggregate principal amount of 6% senior notes due 2026.

Transaction expenses related to the Tropicana Acquisition for the year ended December 31, 2018 totaled $18.3 million. As of December 31, 2018, $0.5 million of accrued costs and expenses related to the Tropicana Acquisition are included in accrued other liabilities.

Preliminary Purchase Price Accounting

The total purchase consideration for the Tropicana Acquisition was $927.3 million. The estimated purchase consideration in the acquisition was determined with reference to its acquisition date fair value.

Purchase consideration calculation (dollars in thousands)
Cash consideration paid	$	640,000
Lumière Loan		246,000
Cash paid to retire Tropicana's long-term debt		35,000
ERI portion of taxes due		6,333
Purchase consideration	$	927,333

The fair values are based on management’s analysis including preliminary work performed by third party valuation specialists, which are subject to finalization and review. The purchase price accounting for Tropicana is preliminary as it relates to determining the fair value of certain assets and liabilities, including goodwill, and is subject to change. The following table summarizes the preliminary allocation of the purchase consideration to the identifiable assets acquired and liabilities assumed of Tropicana, with the excess recorded as goodwill as of December 31, 2018 (dollars in thousands):

Current and other assets	$	183,292
Property and equipment		432,758
Property subject to the financing obligation		957,300
Goodwill		220,482
Intangible assets (i)		247,976
Other noncurrent assets		38,276
Total assets		2,080,084
Current liabilities		(168,856	)
Financing obligation to GLPI		(957,300	)
Noncurrent liabilities		(26,595	)
Total liabilities		(1,152,751	)
Net assets acquired	$	927,333

(i)	Intangible assets consist of gaming licenses valued at $124.9 million, trade names valued at $67.1 million and player loyalty programs valued at $55.9 million.

Valuation methodologies under both a market and income approach used for the identifiable net assets acquired in the Tropicana Acquisition make use of Level 3 inputs including discounted cash flows.

Trade receivables and payables, inventory and other current and noncurrent assets and liabilities were valued at the existing carrying values as they represented the estimated fair value of those items at the Tropicana Acquisition date.

The fair value of land (excluding the real property acquired by GLPI) was determined using the market approach, which arrives at an indication of value by comparing the site being valued to sites that have been recently acquired in arm’s-length transactions. The market data is then adjusted for any significant differences, to the extent known, between the identified comparable sites and the site being valued. Building and site improvements were valued using the cost approach using a direct cost model built on estimates of replacement cost. With respect to personal property components of the assets, personal property assets with an active and identifiable secondary market such as riverboats, gaming equipment, computer equipment and vehicles were valued using the market approach. Other personal property assets such as furniture, fixtures, computer software, and restaurant equipment were valued using the cost approach which is based on replacement or reproduction costs of the asset. The cost approach is an estimation of fair value developed by computing the current cost of replacing a property and subtracting any depreciation resulting from one or more of the following factors: physical deterioration, functional obsolescence, and/or economic obsolescence. The income approach incorporates all tangible and intangible property and served as a ceiling for the fair values of the acquired assets of the ongoing business enterprise, while still taking into account the premise of highest and best use. In the instance where the business enterprise value developed via the income approach was exceeded by the initial fair values of the underlying assets, an adjustment to reflect economic obsolescence was made to the tangible assets on a pro rata basis to reflect the contributory value of each individual asset to the enterprise as a whole.

The real estate assets that were sold to GLPI and leased back by the Company were first adjusted to fair value concurrently with the acquisition of Tropicana. The fair value of the properties was determined utilizing the direct capitalization method of the income approach. In allocating the fair value to the underlying acquired assets, a fair value for the buildings and improvements was determined using the above mentioned cost approach method. To determine the underlying land value, the extraction method was applied wherein the fair value of the building and improvements was deducted from the fair value of the property as derived from the direct capitalization approach to determine the fair value of the land. The fair value of GLPI’s real estate assets was determined to be $957.3 million.

The fair value of the gaming licenses was determined using the excess earnings or replacement cost methodology, based on whether the license resides in gaming jurisdictions where competition is limited to a specified number of licensed gaming operators. The excess earnings methodology is an income approach methodology that estimates the projected cash flows of the business attributable to the gaming license intangible asset, which is net of charges for the use of other identifiable assets of the business including working capital, fixed assets and other intangible assets. Under the respective state’s gaming legislation, the property specific licenses can only be acquired if a theoretical buyer were to acquire each existing facility. The existing licenses could not be acquired and used for a different facility. The properties’ estimated future cash flows were the primary assumption in the respective valuations. Cash flow estimates included net gaming revenue, gaming operating expenses, general and administrative expenses, and tax expense. The replacement cost methodology is a cost approach methodology based on replacement or reproduction cost of the gaming license as an indicator of fair value.

The Company has preliminarily assigned an indefinite useful life to the gaming licenses, in accordance with its review of the applicable guidance of ASC 350. The Company considered, among other things, the expected use of the asset, the expected useful life of other related assets or asset groups, any legal, regulatory, or contractual provisions that may limit the useful life, the Company’s own historical experience in renewing similar arrangements, the effects of obsolescence, demand and other economic factors, and the maintenance expenditures required to obtain the expected cash flows. The Company determined that no legal, regulatory, contractual, competitive, economic or other factors limit the useful lives of these intangible assets. Tropicana had licenses in New Jersey, Missouri, Mississippi, Nevada, Indiana, and Louisiana. The renewal of each state’s gaming license depends on a number of factors, including payment of certain fees and taxes, providing certain information to the state’s gaming regulator, and meeting certain inspection requirements. However, the Company’s historical experience has not indicated, nor does the Company expect, any limitations regarding its ability to continue to renew each license. No other competitive, contractual, or economic factor limits the useful lives of these assets. Accordingly, the Company has preliminarily concluded that the useful lives of these licenses are indefinite.

Trade names are valued using the relief from royalty method, which presumes that without ownership of such trademarks, the Company would have to make a stream of payments to a brand or franchise owner in return for the right to use their name. By virtue of this asset, the Company avoids any such payments and records the related intangible value of the Company’s ownership of the brand name. The primary assumptions in the valuation included revenue, pre-tax royalty rate, and tax expense. The Company has preliminarily assigned an indefinite useful life to the trade names after considering, among other things, the expected use of the asset, the expected useful life of other related assets or asset groups, any legal, regulatory, or contractual provisions that may limit the useful life, ERI’s own historical experience in renewing similar arrangements, the effects of obsolescence, demand and other economic factors, and the maintenance expenditures required to obtain the expected cash flows. In that analysis, ERI determined that no legal, regulatory, contractual, competitive, economic or other factors limit the useful lives of these intangible assets.

Player loyalty programs were valued using the cost approach and the incremental cash flow method under the income approach. The incremental cash flow method is used to estimate the fair value of an intangible asset based on a residual cash flow notion. This method measures the benefits (e.g., cash flows) derived from ownership of an acquired intangible asset as if it were in place, as compared to the acquirer’s expected cash flows as if the intangible asset were not in place (i.e., with-and-without). The residual or net cash flows of the two models is ascribable to the intangible asset. The Company has preliminarily estimated a 3-year useful life on the player loyalty programs.

Goodwill is the result of expected synergies from combining operations of the acquired and acquirer. The goodwill acquired is fully amortizable for tax purposes.

For the period from the Tropicana acquisition date of October 1, 2018 through December 31, 2018, Tropicana generated net revenues of $205.1 million and net loss of $8.7 million.

Elgin

Preliminary Purchase Price Accounting

On August 7, 2018, the Company completed its acquisition of one hundred percent of the partnership interests in Elgin. The total purchase consideration for the Elgin Acquisition was $328.8 million, which was funded by cash on hand and borrowings from the Company’s revolving credit facility. The estimated purchase consideration in the acquisition was determined with reference to its acquisition date fair value.

Purchase consideration calculation (dollars in thousands)
Cash consideration paid	$	327,500
Working capital and other adjustments		1,304
Purchase consideration	$	328,804

The fair values are based on management’s analysis including preliminary work performed by third party valuation specialists, which are subject to finalization and review. The purchase price accounting for Elgin is preliminary as it relates to determining the fair value of the long-lived assets, including goodwill, and is subject to change. The following table summarizes the preliminary allocation of the purchase consideration to the identifiable assets acquired and liabilities assumed of Elgin, with the excess recorded as goodwill as of December 31, 2018 (dollars in thousands):

Current and other	$	25,349
Property and equipment		60,792
Goodwill		59,774
Intangible assets (i)		205,296
Other noncurrent assets		915
Total assets		352,126
Current liabilities		(21,572	)
Noncurrent liabilities		(1,750	)
Total liabilities		(23,322	)
Net assets acquired	$	328,804

(i)	Intangible assets consist of gaming license valued at $163.9 million, trade names valued at $12.6 million and player loyalty programs valued at $28.8 million.

During the three months ended December 31, 2018, the Company adjusted the Elgin preliminary purchase price accounting previously disclosed in our September 30, 2018 Form 10-Q filings, to their updated values. The updated purchase price accounting resulted in minimal changes due to refinements made by management.

Valuation methodologies under both a market and income approach used for the identifiable net assets acquired in the Elgin Acquisition make use of Level 3 inputs including discounted cash flows.

The fair value of land was determined using the market approach, which arrives at an indication of value by comparing the site being valued to sites that have been recently acquired in arm’s-length transactions. The market data is then adjusted for any significant differences, to the extent known, between the identified comparable sites and the site being valued. Building and site improvements were valued using the cost approach using a direct cost model built on estimates of replacement cost. With respect to personal property components of the assets, personal property assets with an active and identifiable secondary market such as riverboats, gaming equipment, computer equipment and vehicles were valued using the market approach. Other personal property assets such as furniture, fixtures, computer software, and restaurant equipment were valued using the cost approach which is based on replacement or reproduction costs of the asset.

The fair value of the gaming license was determined using the multi period excess earnings method. The excess earnings methodology, which is an income approach methodology that allocates the projected cash flows of the business to the gaming license intangible assets less charges for the use of other identifiable assets of Elgin including working capital, fixed assets and other intangible assets. This methodology was considered appropriate as the gaming license is the primary asset of Elgin. The property’s estimated future cash flows were the primary assumption in the respective valuations. Cash flow estimates included net gaming revenue, gaming operating expenses, general and administrative expenses, and tax expense. The renewal of the gaming license depends on a number of factors, including payment of certain fees and taxes, providing certain information to the state’s gaming regulator, and meeting certain inspection requirements. However, ERI’s historical experience has not indicated, nor does ERI expect, any limitations regarding its ability to continue to renew the license. No other competitive, contractual, or economic factor limits the useful lives of this asset. Accordingly, ERI has concluded that the useful life of this license is indefinite.

The player loyalty program was valued using the cost approach and the incremental cash flow method under the income approach. The incremental cash flow method is used to estimate the fair value of an intangible asset based on a residual cash flow notion. This method measures the benefits (e.g., cash flows) derived from ownership of an acquired intangible asset as if it were in place, as compared to the acquirer’s expected cash flows as if the intangible asset were not in place (i.e., with-and-without). The residual or net cash flows of the two models is ascribable to the intangible asset. The Company has preliminarily estimated a 4-year useful life on the player loyalty programs.

The trade name was valued using the relief‑from‑royalty method. The primary assumptions in the valuation included revenue, pre-tax royalty rate, and tax expense. ERI has assigned the trade name an indefinite useful life after considering, among other things, the expected use of the asset, the expected useful life of other related assets or asset groups, any legal, regulatory, or contractual provisions that may limit the useful life, ERI’s own historical experience in renewing similar arrangements, the effects of obsolescence, demand and other economic factors, and the maintenance expenditures required to obtain the expected cash flows. In that analysis, ERI determined that no legal, regulatory, contractual, competitive, economic or other factors limit the useful lives of these intangible assets.

Goodwill is the result of expected synergies from combining operations of the acquired and acquirer. The goodwill acquired is fully amortizable for tax purposes.

For the period from the Elgin acquisition date on August 7, 2018 through December 31, 2018, Elgin generated net revenues of $63.0 million and net income of $7.6 million.

Isle

Final Purchase Price Accounting

On May 1, 2017, the Company completed its acquisition of Isle. As of March 31, 2018, the Company finalized its purchase price accounting related to the Isle Acquisition. The total purchase consideration in the Isle Acquisition was determined with reference to the fair value on the date of the Merger Agreement relating to the Isle Acquisition (the “Isle Merger Agreement”) as follows:

Purchase consideration calculation (dollars in thousands, except shares and stock price)	Shares		Per share
Cash paid for outstanding Isle common stock (1)					$	552,050
Shares of ERI common stock issued for Isle common stock (2)		28,468,182	$	19.12		544,312
Cash paid by ERI to retire Isle's long-term debt (3)						828,000
Shares of ERI common stock for Isle equity awards (4)						10,383
Purchase consideration					$	1,934,745

(1)

The cash component of the consideration represents 58% of the aggregate consideration paid in the Isle Acquisition. The Isle Merger Agreement provided that Isle stockholders could elect to exchange each share of Isle common stock for either $23.00 in cash or 1.638 shares of ERI common stock, subject to proration such that the outstanding shares of Isle common stock will be exchanged for aggregate consideration comprised of 58% cash and 42% ERI common stock. See discussion of the stock consideration component in note (2) below.

(2)

The Stock Consideration component of the consideration represents 42% of the aggregate consideration paid in the Isle Acquisition. The Merger Agreement provided that 58% of the aggregate consideration would be paid by ERI in cash, as described in note (1) above. The remaining 42% of the aggregate consideration was paid in shares of ERI common stock. The total Stock Consideration and per share consideration above were based on the ERI stock price on April 28, 2017 (the last business day prior to Isle Acquisition Date) which was $19.12 per share.

(3)	In addition to the cash paid to retire the principal amounts outstanding of Isle’s long-term debt, ERI paid $26.6 million in premiums and interest.

(4)

This amount represents consideration paid for the replacement of Isle’s outstanding equity awards. As discussed in Note 1, Isle’s outstanding equity awards were replaced by ERI equity awards with similar terms. A portion of the fair value of ERI awards issued represents consideration transferred, while a portion represents compensation expense based on the vesting terms of the equity awards.

The following table summarizes the purchase accounting of the purchase consideration to the identifiable assets acquired and liabilities assumed in the Isle Acquisition as of the Isle Acquisition Date, with the excess recorded as goodwill. The fair values were based on management’s analysis, including work performed by third-party valuation specialists. The following table summarizes our final purchase price accounting of the acquired assets and liabilities as of December 31, 2018 (dollars in thousands):

Current and other assets, net	$	135,925
Property and equipment		908,816
Goodwill		709,087
Intangible assets (i)		517,470
Other noncurrent assets		15,082
Total assets		2,286,380
Current liabilities		(144,306	)
Deferred income taxes (ii)		(189,952	)
Other noncurrent liabilities		(17,377	)
Total liabilities		(351,635	)
Net assets acquired	$	1,934,745

(i)	Intangible assets consist of gaming licenses valued at $395.1 million, trade names valued at $108.3 million, and player loyalty programs valued at $14.1 million.

(ii)	Deferred tax liabilities were derived based on fair value adjustments for property and equipment and identified intangibles.

During the three months ended March 31, 2018, the Company finalized its valuation procedures and adjusted the Isle of Capri preliminary purchase price accounting, as disclosed in the Annual Report on Form 10-K for the year ended December 31, 2017, to their updated values. Except for other long-term liabilities related to Bettendorf and Nemacolin (see Note 11) and a corresponding goodwill adjustment totaling $6.1 million (net of tax), the finalization of our purchase price accounting resulted in minimal changes and refinements by management as of, and for the three months ended, March 31, 2018.

Valuation methodologies under both a market and income approach used for the identifiable net assets acquired in the Isle Acquisition make use of Level 3 inputs.

The cost approach is an estimation of fair value developed by computing the current cost of replacing a property and subtracting any depreciation resulting from one or more of the following factors: physical deterioration, functional obsolescence, and/or economic obsolescence. The income approach incorporates all tangible and intangible property and served as a ceiling for the fair values of the acquired assets of the ongoing business enterprise, while still taking into account the premise of highest and best use. In the instance where the business enterprise value developed via the income approach was exceeded by the initial fair values of the underlying assets, an adjustment to reflect economic obsolescence was made to the tangible assets on a pro rata basis to reflect the contributory value of each individual asset to the enterprise as a whole.

The fair value of the gaming licenses was determined using the excess earnings or replacement cost methodology based on the respective states’ legislation. The excess earnings methodology, which is an income approach methodology that allocates the projected cash flows of the business to the gaming license intangible assets less charges for the use of other identifiable assets of Isle including working capital, fixed assets and other intangible assets. This methodology was considered appropriate as the gaming licenses are the primary asset of Isle and the licenses are linked to each respective facility. Under the respective state’s gaming legislation, the property specific licenses can only be acquired if a theoretical buyer were to acquire each existing facility. The existing licenses could not be acquired and used for a different facility. The properties’ estimated future cash flows were the primary assumption in the respective valuations. Cash flow estimates included net gaming revenue, gaming operating expenses, general and administrative expenses, and tax expense. The replacement cost methodology is a cost approach methodology based on replacement or reproduction cost of the gaming license as an indicator of fair value.

Player loyalty programs were valued using the cost approach and the incremental cash flow method under the income approach. The incremental cash flow method is used to estimate the fair value of an intangible asset based on a residual cash flow notion. This method measures the benefits (e.g., cash flows) derived from ownership of an acquired intangible asset as if it were in place, as compared to the acquirer’s expected cash flows as if the intangible asset were not in place (i.e., with-and-without). The residual or net cash flows of the two models is ascribable to the intangible asset. The Company has estimated a 3-year useful life on the player loyalty programs.

Trademarks are valued using the relief from royalty method, which presumes that without ownership of such trademarks, ERI would have to make a stream of payments to a brand or franchise owner in return for the right to use their name. By virtue of this asset, ERI avoids any such payments and record the related intangible value of ERI’s ownership of the brand name. The primary assumptions in the valuation included revenue, pre-tax royalty rate, and tax expense. ERI has assigned the trade name an indefinite useful life after considering, among other things, the expected use of the asset, the expected useful life of other related assets or asset groups, any legal, regulatory, or contractual provisions that may limit the useful life, ERI’s own historical experience in renewing similar arrangements, the effects of obsolescence, demand and other economic factors, and the maintenance expenditures required to obtain the expected cash flows. In that analysis, ERI determined that no legal, regulatory, contractual, competitive, economic or other factors limit the useful lives of these intangible assets.

ERI has assigned an indefinite useful life to the gaming licenses, in accordance with its review of the applicable guidance of ASC Topic 350, Intangibles-Goodwill and Other (“ASC 350”). The standard required ERI to consider, among other things, the expected use of the asset, the expected useful life of other related assets or asset groups, any legal, regulatory, or contractual provisions that may limit the useful life, ERI’s own historical experience in renewing similar arrangements, the effects of obsolescence, demand and other economic factors, and the maintenance expenditures required to obtain the expected cash flows. In that analysis, ERI determined that no legal, regulatory, contractual, competitive, economic or other factors limit the useful lives of these intangible assets. The acquired Isle properties currently have licenses in Louisiana, Pennsylvania, Iowa, Missouri, Mississippi, Florida and Colorado. The renewal of each state’s gaming license depends on a number of factors, including payment of certain fees and taxes, providing certain information to the state’s gaming regulator, and meeting certain inspection requirements. However, ERI’s historical experience has not indicated, nor does ERI expect, any limitations regarding its ability to continue to renew each license. No other competitive, contractual, or economic factor limits the useful lives of these assets. Accordingly, ERI has concluded that the useful lives of these licenses are indefinite.

For the period from the Isle Acquisition date of May 1, 2017 through December 31, 2017, Isle and its subsidiaries generated net revenue of $600.1 million and net income of $102.5 million.

Unaudited Pro Forma Information

Tropicana

The following unaudited pro forma information presents the results of operations of the Company for the year ended December 31, 2018 and 2017, as if the Tropicana Acquisition had occurred on January 1, 2017 (in thousands).

	Year Ended			Year Ended
	December 31, 2018		December 31, 2017
Net operating revenues	$	2,735,760	$		2,361,372
Net income		92,556			16,651

These pro forma results do not necessarily represent the results of operations that would have been achieved if the acquisition had taken place on January 1, 2017, nor are they indicative of the results of operations for future periods. The pro forma amounts include the historical operating results of the Company and Tropicana prior to the Tropicana Acquisition with adjustments directly attributable to the Tropicana Acquisition.

Elgin

The following unaudited pro forma information presents the results of operations of the Company for the year ended December 31, 2018 and 2017, as if the Elgin Acquisition had occurred on January 1, 2017 (in thousands).

	Year Ended			Year Ended
	December 31, 2018		December 31, 2017
Net operating revenues	$	2,152,948	$		1,644,907
Net income		105,689			79,158

These pro forma results do not necessarily represent the results of operations that would have been achieved if the acquisition had taken place on January 1, 2017, nor are they indicative of the results of operations for future periods. The pro forma amounts include the historical operating results of the Company and Elgin prior to the Elgin Acquisition with adjustments directly attributable to the Elgin Acquisition.

Isle

The following unaudited pro forma information presents the results of operations of the Company for the year ended December 31, 2017 as if the Isle Acquisition, which closed on May 1, 2017, had occurred on January 1, 2016 (in thousands).

	Year Ended
	December 31, 2017
Net operating revenues	$	1,810,815
Net income		173,027

These pro forma results do not necessarily represent the results of operations that would have been achieved if the acquisition had taken place on January 1, 2016, nor are they indicative of the results of operations for future periods. The pro forma amounts include the historical operating results of the Company and Isle prior to the Isle Acquisition with adjustments directly attributable to the Isle Acquisition.

Accounts Receivable

12 Months Ended

Dec. 31, 2018

Receivables [Abstract]

Accounts Receivable

Note 4. Accounts Receivable

Components of accounts receivable, net are as follows (in thousands):

	December 31,
	2018			2017
Accounts receivable	$	63,843		$	47,017
Allowance for doubtful accounts		(3,674	)		(1,220	)
Total	$	60,169		$	45,797

Reserve for Uncollectible Accounts Receivable

We reserve an estimated amount for receivables that may not be collected. Methodologies for estimating bad debt reserves range from specific reserves to various percentages applied to aged receivables. Historical collection rates are considered, as are customer relationships, in determining specific reserves. As with many estimates, management must make judgments about potential actions by third parties in establishing and evaluating our reserves for bad debts. In the years ended December 31, 2018 and 2017, the Company’s bad debt expense totaled $1.6 million and $0.5 million, respectively.

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References + Details

Assets Held for Sale

12 Months Ended

Dec. 31, 2018

Discontinued Operations And Disposal Groups [Abstract]

Assets Held for Sale

Note 5. Assets Held for Sale

On February 28, 2018, the Company entered into definitive agreements to sell substantially all of the assets and liabilities of Presque Isle Downs and Vicksburg to Churchill Downs Incorporated (“CDI”). Under the terms of the agreements, CDI agreed to purchase Presque Isle Downs for cash consideration of approximately $178.9 million and Vicksburg for cash consideration of approximately $50.6 million, in each case subject to a customary working capital adjustment. In conjunction with the classification of Vicksburg’s operations as assets held for sale at March 31, 2018, as a result of the announced sale to CDI, an impairment charge totaling $9.8 million was recorded due to the carrying value exceeding the estimated net sales proceeds.

The definitive agreements provided that the dispositions were subject to receipt of required regulatory approvals, termination of the waiting period under the Hart-Scott-Rodino Act and other customary closing conditions, including, in the case of Presque Isle Downs, the prior closing of the sale of Vicksburg or the entry into an agreement to acquire another asset of the Company. On May 7, 2018, the Company and CDI each received a Request for Additional Information and Documentary Materials, often referred to as a “Second Request,” from the Federal Trade Commission in connection with its review of the Vicksburg acquisition.

On July 6, 2018, in consideration of the time and expense needed to reply to the Second Request, the Company and CDI entered into a termination agreement and release pursuant to which the parties agreed to terminate the asset purchase agreement with respect to Vicksburg and to enter into an asset purchase agreement pursuant to which CDI would acquire and assume the rights and obligations to operate Nemacolin (the “Vicksburg Termination Agreement”). The Vicksburg Termination Agreement also provided that CDI would pay the Company a $5.0 million termination fee upon execution of a definitive agreement with respect to the Nemacolin transaction, which is recorded as proceeds from terminated sale on the Consolidated Statements of Income. On August 10, 2018, the Company entered into a definitive agreement to sell substantially all of the assets and liabilities of Nemacolin to CDI. Under the terms of the agreement, CDI agreed to purchase Nemacolin for cash consideration of approximately $0.1 million, subject to a customary working capital adjustment.

As a result of the agreement to sell Nemacolin, an impairment charge of $3.8 million for the year ended December 31, 2018 was recorded due to the carrying value of the net property and equipment being sold exceeding the estimated net sales proceeds.

The Nemacolin transaction is expected to close in the first quarter of 2019, subject to satisfaction of closing conditions, including receipt of Pennsylvania regulatory approvals. The Presque transaction was consummated in accordance with the terms noted above on January 11, 2019.

The dispositions of Nemacolin and Presque Isle Downs, both of which are reported in the East segment, met the requirements for presentation as assets held for sale under generally accepted accounting principles as of December 31, 2018. Due to the termination of the Vicksburg sale, Vicksburg is no longer presented as an asset held for sale.

The assets and liabilities held for sale, accounted for at carrying value as it was lower than fair value, were as follows (in thousands):

	December 31, 2018
	Nemacolin		Presque Isle Downs		Total
Assets:
Accounts receivable, net	$	272	$	2,208	$	2,480
Inventories		79		1,607		1,686
Prepaid expenses and other		370		773		1,143
Property and equipment, net		1,784		70,134		71,918
Goodwill		—		3,122		3,122
Other intangibles, net		—		75,422		75,422
Assets held for sale	$	2,505	$	153,266	$	155,771

Liabilities:
Accounts payable	$	147	$	683	$	830
Accrued payroll and related		838		596		1,434
Accrued property and other taxes		552		71		623
Accrued other liabilities		1,628		3,659		5,287
Other long-term liabilities		105		—		105
Long term obligation		2,412		—		2,412
Liabilities related to assets held for sale	$	5,682	$	5,009	$	10,691

The following information presents the net operating revenues and net income (in thousands):

	Year Ended December 31, 2018
	Nemacolin			Presque Isle Downs
Net operating revenues	$	33,461		$	139,993
Net (loss) income		(3,571	)		13,935

These amounts include historical operating results, adjusted to eliminate the internal allocation of interest expense that will not be assumed by the buyer.

Investments in and Advances to Unconsolidated Affiliates

12 Months Ended

Dec. 31, 2018

Equity Method Investments And Joint Ventures [Abstract]

Investments in and Advances to Unconsolidated Affiliates

Note 6. Investments in and Advances to Unconsolidated Affiliates

Hampton Inn & Suites

The Company holds a 42.1% variable interest in a partnership with other investors that developed a new 118-room Hampton Inn & Suites hotel at Scioto Downs that opened in March 2017. Pursuant to the terms of the partnership agreement, the Company contributed $1.0 million of cash and 2.4 acres of a leasehold immediately adjacent to The Brew Brothers microbrewery and restaurant at Scioto Downs. The partnership constructed the hotel at a cost of $16.0 million and other investor members operate the hotel. In November 2017, the Company contributed $0.6 million to the partnership for its proportionate share of additional construction costs pursuant to the partnership agreement. At December 31, 2018 and 2017, the Company’s investment in the partnership totaled $1.3 million and $1.5 million, respectively, recorded in other assets, net in the Consolidated Balance Sheets, representing the Company’s maximum loss exposure. As of December 31, 2018, the Company’s receivable from the partnership totaled $0.3 million and is reflected in due from affiliates on the Consolidated Balance Sheets.

Pompano Joint Venture

In April 2018, the Company entered into a joint venture with Cordish Companies (“Cordish”) to master plan and develop a mixed-use entertainment and hospitality destination expected to be located on unused land adjacent to the casino and racetrack at the Company’s Pompano property. As the managing member, Cordish will operate the business and manage the development, construction, financing, marketing, leasing, maintenance and day-to-day operation of the various phases of the project. Additionally, Cordish will be responsible for the development of the master plan for the project with the Company’s input and will submit it for the Company’s review and approval. The Company and Cordish have made initial cash contributions of $250,000 each and could be required to make additional contributions to a maximum of $2.0 million ($1.0 million per member) at the request of the managing member. The Company has agreed to contribute land to the joint venture for the project. While the Company holds a 50% variable interest in the joint venture, it is not the primary beneficiary; as such the investment in the joint venture is accounted for using the equity method. The Company will participate evenly with Cordish in the profits and losses of the joint venture, which is included in loss from unconsolidated affiliates on the Consolidated Statements of Income.

William Hill

In September 2018, the Company entered into a 25-year agreement, which became effective January 2019, with William Hill PLC and William Hill US, its U.S. subsidiary (together, “William Hill”) pursuant to which the Company (i) granted to William Hill the right to conduct betting activities in retail channels and under the Company’s first skin and third skin for online channels with respect to the Company’s current and future properties located in the United States and the territories and possessions of the United States, including Puerto Rico and the U.S. Virgin Islands and (ii) agreed that William Hill will have the right to conduct real money online gaming activities utilizing the Company’s second skin available with respect to properties in such territory. Pursuant to the terms of the agreement, in January 2019 the Company received a 20% equity stake in William Hill US as well as 13.4 million ordinary shares of William Hill PLC, and the Company will receive a revenue share from the operation of retail betting and online betting and gaming activities. “Skin” in the context of this agreement refers to Eldorado’s ability to grant to William Hill an online channel that allows William Hill to operate online casino and sports gaming activities in reliance on, and utilizing the benefit of, any licenses granted to Eldorado or its subsidiaries.

Property and Equipment

12 Months Ended

Dec. 31, 2018

Property Plant And Equipment Net [Abstract]

Property and Equipment

Note 7. Property and Equipment

Property and equipment consisted of the following (in thousands):

	December 31,
	2018			2017
Non-Master Lease:
Land and improvements	$	316,456		$	284,374
Buildings and other leasehold improvements		1,472,516			1,187,642
Riverboats		81,762			61,091
Furniture, fixtures and equipment		586,404			420,399
Furniture, fixtures and equipment held under capital leases (Note 17)		193			870
Construction in progress		41,346			14,451
		2,498,677			1,968,827
Less—Accumulated depreciation and amortization		(569,073	)		(466,010	)
		1,929,604			1,502,817
Master Lease:
Land and improvements		377,150			—
Buildings and other leasehold improvements		578,250			—
Riverboats		1,900			—
		957,300			—
Less—Accumulated depreciation and amortization		(4,298	)		—
		953,002			—
Property and equipment, net	$	2,882,606		$	1,502,817

Substantially all non-Master Lease property and equipment are pledged as collateral under our long‑term debt (see Note 11).

Depreciation expense, including amortization expense on capital leases, was $140.3 million, $100.9 million and $58.9 million for the years ended December 31, 2018, 2017 and 2016, respectively. Depreciation expense on the Master Lease assets was $4.3 million for the year ended December 31, 2018. `

Intangible Assets, Net and Other Long Term Assets

12 Months Ended

Dec. 31, 2018

Other And Intangible Assets Net Disclosure [Abstract]

Intangible Assets, Net and Other Long Term Assets

Note 8. Intangible Assets, net and Other Long Term Assets

Intangible assets, net, include the following amounts (in thousands):

	December 31,
	2018			2017			Useful Life
Goodwill	$	1,008,316		$	747,106		Indefinite

Gaming licenses	$	1,090,682		$	877,174		Indefinite
Trade names		187,929			108,250		Indefinite
Trade names		5,100			6,700		3.5 years
Player loyalty programs		105,005			21,820		3 - 4 years
Subtotal		1,388,716			1,013,944
Accumulated amortization trade names		(5,100	)		(6,290	)
Accumulated amortization player loyalty programs		(21,610	)		(10,838	)
Total gaming licenses and other intangible assets, net	$	1,362,006		$	996,816

Gaming licenses represent intangible assets acquired from the purchase of a gaming entity located in a gaming jurisdiction where competition is limited, such as when only a limited number of gaming operators are allowed to operate in the jurisdiction. These gaming license rights are not subject to amortization as the Company has determined that they have indefinite useful lives.

Goodwill represents the excess of the purchase price of acquiring MTR Gaming, Isle, Elgin and Tropicana over the fair market value of the net assets acquired.

Amortization expense with respect to trade names and loyalty program for the years ended December 31, 2018 and 2017 totaled $12.7 million and $5.1 million, respectively, which is included in depreciation and amortization in the Consolidated Statements of Income. Such amortization expense is expected to be $30.6 million, $27.4 million, $21.2 million and $4.2 million for the years ended December 31, 2019, 2020, 2021 and 2022, respectively.

In conjunction with the classification of Presque’s assets being held for sale, $75.4 million in licenses, $1.6 million in finite lived trade names and amortization were transferred to assets held for sale on the Consolidated Balance Sheet.

The following table presents changes to goodwill for the years ended December 31, 2018 and 2017 (in thousands):



	Goodwill			Accumulated Impairment			Goodwill, net
January 1, 2017	$	66,826		$	—		$	66,826
Acquisitions		715,196			—			715,196
Impairments		—			(34,916	)		(34,916	)
December 31, 2017		782,022			(34,916	)		747,106
Acquisitions		280,256			—			280,256
Finalization of purchase price accounting		(6,109	)		—			(6,109	)
Assets held for sale		(3,122	)		—			(3,122	)
Impairments		—			(9,815	)		(9,815	)
December 31, 2018	$	1,053,047		$	(44,731	)	$	1,008,316

On October 1, 2018 the Company performed its annual impairment tests of its intangible assets by reviewing each of its reporting units. During the impairment test, no reporting units were noted to have a carrying value in excess of fair value. As a result, no impairments were indicated as a result of this testing for goodwill.

In conjunction with the classification of Vicksburg’s operations as assets held for sale at March 31, 2018 (see Note 5) as a result of the announced sale to CDI, an impairment charge totaling $9.8 million was recorded due to the carrying value exceeding the estimated net sales proceeds. The impairment reduced the value of goodwill in the South segment.

On October 1, 2017 the Company performed its annual impairment tests of its intangible assets by reviewing each of its reporting units. The goodwill analysis of the Company’s Lake Charles, Lula and Vicksburg reporting units indicated the fair value of Lake Charles’ and Vicksburg’s goodwill and all three reporting units’ trade names were less than their carrying values.

As a result of its analysis, the Company recorded a $38.0 million impairment charge in 2017 comprised of the following: $1.5 million, $0.3 million and $1.3 million related to trade names for Lake Charles, Lula and Vicksburg, respectively, and $11.7 million and $23.2 million related to goodwill for Lake Charles and Vicksburg, respectively.

The Company’s goodwill impairment charges in 2017 were primarily the result of expected decreases in future cash flows as a result of unfavorable economic conditions and the impact of changes in our competitors. The non-recurring fair values used in our determination of the goodwill impairment charges considered Level 3 inputs, including the review of comparable activities in the marketplace, discounted cash flows and market based multiple valuation methods.

The Company’s trade name impairment charges in 2017 were primarily the result of expected decreases in future net revenues. The non-recurring fair values used in our determination of the trade name impairment charges considered Level 3 inputs, including use of the relief‑from‑royalty method.

Other assets, net

Other assets, net, include the following amounts (in thousands):

		December 31,
		2018			2017
CRDA bonds and deposits			6,694			—
Unamortized debt issuance costs - Revolving Credit Facility			9,533			8,616
Non-operating real property			17,880			18,069
Long-term prepaid rent			20,198			—
Restricted cash and investments			15,064			9,886
Other			15,969			12,130
Total other assets, net	$		85,338	$		48,701

The CRDA bonds have various contractual maturities that range up to 40 years. Actual maturities may differ from contractual maturities because of prepayment rights. The Company treats CRDA bonds as held-to-maturity since the Company has the ability and the intent to hold these bonds to maturity and under the CRDA, the Company is not permitted to do otherwise.

After the initial determination of fair value, the Company analyzes the CRDA bonds for recoverability on a quarterly basis based on management's historical collection experience and other information received from the CRDA. If indications exist that the CRDA bond is impaired, additional valuation allowances are recorded.

Approximately ten acres of the approximately 20 acres on which Tropicana Evansville is situated is subject to a lease with the City of Evansville, Indiana. Under the terms of the agreement, a pre-payment of lease rent in the amount of $25 million was due at the commencement of the construction project. The prepayments will be applied against future rent in equal monthly amounts over a period of one hundred and twenty (120) months which commenced upon the opening of the property in January 2018. The current term of the lease expires November 30, 2027.

Accrued Other Liabilities

12 Months Ended

Dec. 31, 2018

Payables And Accruals [Abstract]

Accrued Other Liabilities

Note 9. Accrued Other Liabilities

Accrued other liabilities consisted of the following (in thousands):

	December 31,
	2018		2017
Accrued general liability claims	$	16,465	$	13,816
Unclaimed chips		8,930		4,743
Accrued purses and track related liabilities		1,899		3,256
Jackpot progressives and other accrued gaming liabilities		26,383		18,724
Player loyalty program point liability		17,639		11,753
Accrued Illinois donation liability		8,912		—
Accrued rent		4,324		2,074
Other		18,430		11,672
Total accrued other liabilities	$	102,982	$	66,038

In connection with the Company’s gaming license in the State of Illinois, the Company has agreed to contribute to both the County of Kane and the Grand Victoria Foundation, a foundation established for the benefit of education, environmental and economic development programs in the region, a donation equal to 20% of annual adjusted net operating income. The expense for the period from the Elgin Acquisition date through December 31, 2018 totaled $3.5 million and is included in general and administrative expense. Payment of the donation is due 120 days after the end of the fiscal year.

Long-Term Financing Obligation

12 Months Ended

Dec. 31, 2018

Leases [Abstract]

Long-Term Financing Obligation

Note 10. Long-Term Financing Obligation

The Company’s Master Lease with GLPI is accounted for as a failed sale-leaseback financing obligation equal to the fair value of the leased real estate assets. Under the terms of the Master Lease, and based on certain prohibited forms of continuing involvement in the leased assets, the Master Lease did not qualify for sale-leaseback accounting and was accounted for as a financing obligation.

When cash proceeds are exchanged, a failed sale-leaseback financing obligation is equal to the proceeds received for the assets that are sold and then leased back. However, in the absence of cash proceeds, the value of the failed sale-leaseback financing obligations recognized in this transaction was determined to be the fair value of the leased real estate assets. In subsequent periods, a portion of the periodic lease payment under the Master Lease will be recognized as interest expense with the remainder of the lease payment reducing the failed sale-leaseback financing obligation using the effective interest method. However, the failed sale-leaseback obligations will not be reduced to less than the net book value of the leased real estate assets as of the end of the lease term, which is estimated to be $372.8 million.

The fair value of the real estate assets and the related failed sale-leaseback financing obligations were estimated based on the present value of the estimated future lease payments over the lease term of 35 years, including renewal options, using an imputed discount rate of approximately 10.2%. The value of the failed sale-leaseback financing obligations is dependent upon assumptions regarding the amount of the lease payments and the estimated discount rate of the lease payments required by a market participant.

The Master Lease provides for the lease of land, buildings, structures and other improvements on the land (including barges and riverboats), easements and similar appurtenances to the land and improvements relating to the operation of the leased properties. The Master Lease provides for an initial term of fifteen years with no purchase option. At the Company’s option, the Master Lease may be extended for up to four five-year renewal terms beyond the initial 15-year term. If we elect to renew the term of the Master Lease, the renewal will be effective as to all, but not less than all, of the leased property then subject to the Master Lease. The Company does not have the ability to terminate its obligations under the Master Lease prior to its expiration without GLPI’s consent.

The rent payable under the Master Lease is comprised of “Base Rent” and “Percentage Rent.” Base rent is the sum of:

•

Building Base Rent: a fixed component equal to $60.9 million during the first year of the Master Lease, and thereafter escalated annually by 2%, subject to a cap that would cause the preceding year’s adjusted revenue to rent ratio for the properties in the aggregate not to fall below 1.20:1.00 for the first five years of the Master Lease and 1.80:1.00 thereafter; plus

•

Land Base Rent: an additional fixed component equal to $13.4 million, subject to adjustment in the event of the termination of the Master Lease with respect to any of the leased properties.

The percentage rent payable under the Master Lease is adjusted every two years based on the actual net revenues of the leased properties during the two-year period then ended. The initial variable rent percentage, which is fixed for the first two years, is $13.4 million per year. The actual percentage increase is based on actual performance and is subject to change.

Under the Master Lease, the Company is required to pay the following, among other things: lease payments to the underlying ground lessor for properties that are subject to ground leases, facility maintenance costs, all insurance premiums for insurance with respect to the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties (other than taxes on the income of the lessor and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties).

The initial annual rent under the terms of the lease is $87.6 million.

The estimated future lease payments include the minimum lease payments and were adjusted to reflect estimated lease payments as described in the agreements, including an annual escalator of up to 2%.

The future minimum payments related to the Master Lease financing obligation with GLPI at December 31, 2018 are as follows (in thousands):

2019	$	87,943
2020		89,168
2021		90,417
2022		91,691
2023		92,990
Thereafter		3,506,673
Total future payments		3,958,882
Less: Amounts representing interest at 10.2%		(3,371,847	)
Plus: Residual values		372,800
Financing obligation to GLPI	$	959,835

Total payments and interest expense related to the Master Lease were $21.9 million and $24.4 million, respectively, for the period from October 1, 2018 to December 31, 2018. For the initial periods of the Master Lease, cash payments are less than the interest expense recognized, which causes the failed sale-leaseback obligation to increase during the initial years of the lease term.

The Master Lease contains certain covenants, including minimum capital improvement expenditures.

Long-Term Debt and Other Long-Term Liabilities

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Long-Term Debt and Other Long-Term Liabilities

Note 11. Long‑Term Debt and Other Long-Term Liabilities

Long-term debt consisted of the following (in thousands):

	December 31,			December 31,
	2018			2017
Term Loan	$	956,750		$	956,750
Less: Unamortized discount and debt issuance costs		(18,426	)		(18,748	)
Net		938,324			938,002
6% Senior Notes due 2026		600,000			—
Less: Unamortized debt issuance costs		(19,630	)		—
Net		580,370			—
6% Senior Notes due 2025		875,000			875,000
Plus: Unamortized debt premium		23,491			26,605
Less: Unamortized debt issuance costs		(18,405	)		(20,716	)
Net		880,086			880,889
7% Senior Notes due 2023		375,000			375,000
Less: Unamortized discount and debt issuance costs		(6,075	)		(7,146	)
Net		368,925			367,854
Revolving Credit Facility		245,000			—
Lumière Loan		246,000			—
Capital leases		590			917
Long-term notes payable		2,440			2,531
Less: Current portion		(462	)		(615	)
Total long-term debt	$	3,261,273		$	2,189,578

Maturities of the principal amount of the Company’s long-term debt as of December 31, 2018 are as follows:

Years ending December 31,	(In thousands)
2019	$	462
2020		246,235
2021		167
2022		173
2023		620,138
Thereafter		2,433,605
	$	3,300,780

Amortization of the debt issuance costs and the discount and premium associated with our indebtedness totaled $5.6 million, $6.3 million and $3.5 million for the years ended December 31, 2018, 2017 and 2016, respectively. Amortization of debt issuance costs is computed using the effective interest method and is included in interest expense.

In accordance with ASC Topic 470-50, Debt Modifications and Extinguishments (“ASC 470-50”), the Company recognized a loss totaling $27.3 million for the year ended December 31, 2017 as a result of the refinance of the Prior Credit Facility (as defined below) in May 2017. The Company also recognized a loss totaling $11.1 million as a result of the issuance of additional 6% Senior Notes due 2025 (as defined below) in September 2017 resulting in a combined total loss of $38.4 million for the year ended December 31, 2017.

The Company is a holding company with no independent assets or operations. Our 6% Senior Notes due 2025, 6% Senior Notes due 2026 (as defined below) and 7% Senior Notes due 2023 (as defined below) are fully and unconditionally guaranteed, on a joint and several basis, by the subsidiary guarantors. As of December 31, 2018, there were no significant restrictions on the ability of our subsidiaries to distribute cash to us or our guarantor subsidiaries.

Senior Notes

7% Senior Notes due 2023

On July 23, 2015, the Company issued at par $375.0 million in aggregate principal amount of 7.0% senior notes due 2023 (“7% Senior Notes due 2023”) pursuant to the Indenture, dated as of July 23, 2015 (the “2023 Indenture”), between the Company and U.S. Bank, National Association, as Trustee. The 7% Senior Notes due 2023 will mature on August 1, 2023, with interest payable semi-annually in arrears on February 1 and August 1 of each year.

On or after August 1, 2018, the Company may redeem all or a portion of the Senior Notes upon not less than 30 nor more than 60 days’ notice, at the redemption prices (expressed as percentages of the principal amount) set forth below plus accrued and unpaid interest and additional interest, if any, on the Senior Notes redeemed, to the applicable redemption date, if redeemed during the twelve month period beginning on August 1 of the years indicated below:

Year	Percentage
2018		105.250	%
2019		103.500	%
2020		101.750	%
2021 and thereafter		100.000	%

If the Company experiences certain change of control events (as defined in the 2023 Indenture), it must offer to repurchase the 7% Senior Notes due 2023 at 101% of their principal amount, plus accrued and unpaid interest to the applicable repurchase date. If the Company sells assets under certain circumstances and does not use the proceeds for specified purposes, the Company must offer to repurchase the 7% Senior Notes due 2023 at 100% of their principal amount, plus accrued and unpaid interest to the applicable repurchase dates.

The 7% Senior Notes due 2023 are subject to redemption imposed by gaming laws and regulations of applicable gaming regulatory authorities.

The 2023 Indenture contains certain covenants limiting, among other things, the Company’s ability and the ability of its subsidiaries (other than its unrestricted subsidiaries) to:

•

pay dividends or distributions or make certain other restricted payments or investments;

•

incur or guarantee additional indebtedness or issue disqualified stock or create subordinated indebtedness that is not subordinated to the 7% Senior Notes due 2023 or the guarantees of the 7% Senior Notes due 2023;

•

create liens;

•

transfer and sell assets;

•

merge, consolidate, or sell, transfer or otherwise dispose of all or substantially all of the Company’s assets;

•

enter into certain transactions with affiliates;

•

engage in lines of business other than the Company’s core business and related businesses; and

•

create restrictions on dividends or other payments by restricted subsidiaries.

These covenants are subject to a number of exceptions and qualifications as set forth in the 2023 Indenture. The 2023 Indenture also provides for customary events of default which, if any of them occurs, would permit or require the principal of and accrued interest on such 7% Senior Notes due 2023 to be declared due and payable.

6% Senior Notes due 2025

On March 29, 2017, Eagle II Acquisition Company LLC (“Eagle II”), a wholly-owned subsidiary of the Company, issued $375.0 million in aggregate principal amount of 6.0% senior notes due 2025 (the “6% Senior Notes due 2025”) pursuant to an indenture, dated as of March 29, 2017 (the “2025 Indenture”), between Eagle II and U.S. Bank, National Association, as Trustee. The 6% Senior Notes will mature on April 1, 2025, with interest payable semi-annually in arrears on April 1 and October 1, commencing October 1, 2017. The proceeds of the offering, and additional funds in the amount of $1.9 million in respect of interest expected to be accrued on the 6% Senior Notes due 2025, were placed in escrow pending satisfaction of certain conditions, including consummation of the Isle Acquisition. In connection with the consummation of the Isle Acquisition on May 1, 2017, the escrowed funds were released, and the Company assumed Eagle II’s obligations under the 6% Senior Notes due 2025 and the 2025 Indenture and certain of the Company’s subsidiaries (including Isle and certain of its subsidiaries) executed guarantees of the Company’s obligations under the 6% Senior Notes due 2025.

On September 13, 2017, the Company issued an additional $500.0 million principal amount of its 6% Senior Notes due 2025 at an issue price equal to 105.5% of the principal amount of the 6% Senior Notes due 2025. The additional notes were issued pursuant to the 2025 Indenture that governs the 6% Senior Notes due 2025. The Company used the proceeds of the offering to repay $78.0 million of outstanding borrowings under the previous revolving credit facility and used the remainder to repay $444.5 million outstanding borrowings under the previous term loan facility and related accrued interest.

On or after April 1, 2020, the Company may redeem all or a portion of the 6% Senior Notes due 2025 upon not less than 30 nor more than 60 days’ notice, at the redemption prices (expressed as percentages of the principal amount) set forth below plus accrued and unpaid interest and additional interest, if any, on the 6% Senior Notes due 2025 redeemed, to the applicable redemption date, if redeemed during the 12-month period beginning on April 1 of the years indicated below:

Year	Percentage
2020		104.500	%
2021		103.000	%
2022		101.500	%
2023 and thereafter		100.000	%

Prior to April 1, 2020, the Company may redeem all or a portion of the 6% Senior Notes due 2025 at a price equal to 100% of the 6% Senior Notes due 2025 redeemed plus accrued and unpaid interest to the redemption date, plus a make-whole premium. At any time prior to April 1, 2020, the Company is also entitled to redeem up to 35% of the original aggregate principal amount of the 6% Senior Notes due 2025 with proceeds of certain equity financings at a redemption price equal to 106% of the principal amount of the 6% Senior Notes due 2025 redeemed, plus accrued and unpaid interest. If the Company experiences certain change of control events (as defined in the 2025 Indenture), it must offer to repurchase the 6% Senior Notes due 2025 at 101% of their principal amount, plus accrued and unpaid interest to the applicable repurchase date. If the Company sells assets under certain circumstances and does not use the proceeds for specified purposes, the Company must offer to repurchase the 6% Senior Notes due 2025 at 100% of their principal amount, plus accrued and unpaid interest to the applicable repurchase date.

The 6% Senior Notes due 2025 are subject to redemption imposed by gaming laws and regulations of applicable gaming regulatory authorities.

The 2025 Indenture contains certain covenants limiting, among other things, the Company’s ability and the ability of its subsidiaries (other than its unrestricted subsidiaries) to:

•

pay dividends or distributions or make certain other restricted payments or investments;

•

incur or guarantee additional indebtedness or issue disqualified stock or create subordinated indebtedness that is not subordinated to the 6% Senior Notes due 2025 or the guarantees of the 6% Senior Notes due 2025;

•

create liens;

•

transfer and sell assets;

•

merge, consolidate, or sell, transfer or otherwise dispose of all or substantially all of the Company’s assets;

•

enter into certain transactions with affiliates;

•

engage in lines of business other than the Company’s core business and related businesses; and

•

create restrictions on dividends or other payments by restricted subsidiaries.

These covenants are subject to a number of exceptions and qualifications as set forth in the 2025 Indenture. The 2025 Indenture also provides for customary events of default which, if any of them occurs, would permit or require the principal of and accrued interest on such 6% Senior Notes due 2025 to be declared due and payable.

6% Senior Notes due 2026

On September 20, 2018, Delta Merger Sub, Inc. (“Escrow Issuer”), a Delaware corporation and a wholly-owned subsidiary of the Company, issued $600 million in aggregate principal amount of 6.0% senior notes due 2026 (the “6% Senior Notes due 2026”) pursuant to an indenture, dated as of September 20, 2018 (the “2026 Indenture”), between Escrow Issuer and U.S. Bank, National Association, as Trustee. Interest on the 6% Senior Notes due 2026 will be paid semi-annually in arrears on March 15 and September 15, commencing March 15, 2019. The Company and the subsidiary guarantors assumed the obligations under the 2026 Indenture in connection with the consummation of the Tropicana Acquisition.

On or after September 15, 2021, the Company may redeem all or a portion of the 6% Senior Notes due 2026 upon not less than 30 nor more than 60 days’ notice, at the redemption prices (expressed as percentages of the principal amount) set forth below plus accrued and unpaid interest and additional interest, if any, on the 6% Senior Notes due 2026 redeemed, to the applicable redemption date, if redeemed during the 12-month period beginning on September 15 of the years indicated below:

Year	Percentage
2021		104.500	%
2022		103.000	%
2023		101.500	%
2024 and thereafter		100.000	%

Prior to September 15, 2021, we may redeem all or a portion of the 6% Senior Notes due 2026 at a price equal to 100% of the 6% Senior Notes due 2026 redeemed plus accrued and unpaid interest to the redemption date, plus a make-whole premium. At any time prior to September 15, 2021, we are also entitled to redeem up to 35% of the original aggregate principal amount of the 6% Senior Notes due 2026 with proceeds of certain equity financings at a redemption price equal to 106% of the principal amount of the 6% Senior Notes due 2026 redeemed, plus accrued and unpaid interest. Upon the occurrence of a Change of Control (if the 6% Senior Notes due 2026 do not have investment grade status) or a Change of Control Triggering Event (each as defined in the 2026 Indenture), the Company must offer to repurchase the 6% Senior Notes due 2026 at 101% of their principal amount, plus accrued and unpaid interest to the applicable repurchase date.

If the Company sells assets under certain circumstances and does not use the proceeds for specified purposes, the Company must apply the net proceeds of such sale to make an offer to repurchase the 6% Senior Notes due 2026 at 100% of their principal amount, plus accrued and unpaid interest to the applicable repurchase date.

The 6% Senior Notes due 2026 are subject to redemption imposed by gaming laws and regulations of applicable gaming regulatory authorities.

The 2026 Indenture contains certain covenants limiting, among other things, the Company’s ability to:

•

incur additional indebtedness;

•

create, incur or suffer to exist certain liens;

•

pay dividends or make distributions on capital stock or repurchase capital stock;

•

make certain investments;

•

place restrictions on the ability of subsidiaries to pay dividends or make other distributions to the Issuer;

•

sell certain assets or merge with or consolidate into other companies; and

•

enter into certain types of transactions with the stockholders and affiliates.

These covenants are subject to a number of exceptions and qualifications as set forth in the 2026 Indenture. The 2026 Indenture also provides for events of default which, if any of them occurs, would permit or require the principal of and accrued interest on such 6% Senior Notes due 2026 to be declared due and payable.

The Company applied the net proceeds of the sale of the 6% Senior Notes due 2026, together with borrowings under its existing revolving credit, cash on hand and Tropicana’s cash on hand, to pay the consideration payable by the Company pursuant to the merger agreement, repay all of the debt outstanding under Tropicana’s existing credit facility and pay fees and costs associated with the Tropicana Acquisition that closed on October 1, 2018.

Credit Facility

On April 17, 2017, Eagle II entered into a credit agreement by and among Eagle II, as initial borrower, JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto dated as of April 17, 2017 (the “Credit Facility”), consisting of a $1.45 billion term loan facility (the “Term Loan Facility” or “Term Loan”) and a $300.0 million revolving credit facility (the “Revolving Credit Facility”), which was undrawn at closing. The proceeds of the Term Loan Facility, and additional funds in the amount of $4.5 million in respect of interest expected to be accrued on the Term Loan Facility, were placed in escrow pending satisfaction of certain conditions, including consummation of the Isle Acquisition. In connection with the consummation of the Isle Acquisition on May 1, 2017, the escrowed funds were released and ERI assumed Eagle II’s obligations under the Credit Facility and certain of ERI’s subsidiaries (including Isle and certain of its subsidiaries) executed guarantees of ERI’s obligations under the Credit Facility.

As of December 31, 2018, the Company had $956.8 million outstanding under the Term Loan and $245.0 million of borrowings outstanding under the Revolving Credit Facility. The Company had $242.3 million of available borrowing capacity, after consideration of $12.7 million in outstanding letters of credit, under its Revolving Credit Facility as of December 31, 2017. At December 31, 2018, the weighted average interest rate on the Term Loan was 4.3%, and the weighted average interest rate on the Revolving Credit Facility was 4.6%.

The Company applied the net proceeds of the Term Loan Facility and borrowings under the Revolving Credit Facility, together with the proceeds of the 6% Senior Notes due 2025 and cash on hand, to (i) pay the cash portion of the consideration payable in the Isle Merger, (ii) refinance all of the debt outstanding under Isle’s existing credit facility, (iii) redeem or otherwise repurchase all of Isle’s outstanding senior and senior subordinated notes, (iv) refinance the Company’s Prior Credit Facility and (v) pay fees and costs associated with the foregoing.

The Company’s obligations under the Revolving Credit Facility will mature on April 17, 2022. The Company’s obligations under the Term Loan Facility will mature on April 17, 2024. The Company was required to make quarterly principal payments in an amount equal to $3.6 million on the Term Loan Facility on the last day of each fiscal quarter beginning on June 30, 2017 but satisfied this requirement as a result of the principal prepayment of $444.5 million on September 13, 2017 in conjunction with the issuance of the additional 6% Senior Notes due 2025. In addition, the Company is required to make mandatory payments of amounts outstanding under the Credit Facility with the proceeds of certain casualty events, debt issuances, and asset sales and, depending on its consolidated total leverage ratio, the Company may be required to apply a portion of its excess cash flow to repay amounts outstanding under the Credit Facility.

The interest rate per annum applicable to loans under the Revolving Credit Facility are, at our option, either (i) LIBOR plus a margin ranging from 1.75% to 2.50% or (ii) a base rate plus a margin ranging from 0.75% to 1.50%, which margin is based on our total leverage ratio. The interest rate per annum applicable to the loans under the Term Loan Facility is, at our option, either (i) LIBOR plus 2.25%, or (ii) a base rate plus 1.25%; provided, however, that in no event will LIBOR be less than zero or the base rate be less than 1.00% over the term of the Term Loan Facility or the Revolving Credit Facility. Additionally, the Company pays a commitment fee on the unused portion of the Revolving Credit Facility not being utilized in the amount of 0.50% per annum.

The Credit Facility contains a number of customary covenants that, among other things, restrict, subject to certain exceptions, the Company’s ability and the ability of the subsidiary guarantors to incur debt; create liens; engage in mergers, consolidations or asset dispositions; pay dividends or make distributions; make investments, loans or advances; engage in certain transactions with affiliates or subsidiaries; or modify their lines of business.

The Credit Facility is secured by substantially all of the Company’s personal property assets and substantially all personal property assets of each subsidiary that guaranties the Credit Facility (other than certain subsidiary guarantors designated as immaterial) (the “Credit Facility Guarantors”), whether owned on the closing date of the Credit Facility or thereafter acquired, and mortgages on the real property and improvements owned or leased us or the Credit Facility Guarantors. The Credit Facility is also secured by a pledge of all of the equity owned by the Company and the Credit Facility Guarantors (subject to certain gaming law restrictions). The credit agreement governing the Credit Facility contains a number of customary covenants that, among other things, restrict, subject to certain exceptions, the Company’s ability and the ability of the Credit Facility Guarantors to incur additional indebtedness, create liens, engage in mergers, consolidations or asset dispositions, make distributions, make investments, loans or advances, engage in certain transactions with affiliates or subsidiaries or make capital expenditures.

The Credit Facility also includes certain financial covenants, including the requirements that we maintain throughout the term of the Credit Facility and measured as of the end of each fiscal quarter, and solely with respect to loans under the Revolving Credit Facility, a maximum consolidated total leverage ratio of not more than 6.50 to 1.00 for the period beginning on the closing date and ending with the fiscal quarter ending December 31, 2018, 6.00 to 1.00 for the period beginning with the fiscal quarter beginning January 1, 2019 and ending with the fiscal quarter ending December 31, 2019, and 5.50 to 1.00 for the period beginning with the fiscal quarter beginning January 1, 2020 and thereafter. The Company will also be required to maintain an interest coverage ratio in an amount not less than 2.00 to 1.00 measured on the last day of each fiscal quarter beginning on the closing date, and ending with the fiscal quarter ending December 31, 2018, 2.50 to 1.00 for the period beginning with the fiscal quarter beginning January 1, 2019 and ending with the fiscal quarter ending December 31, 2019, and 2.75 to 1.00 for the period beginning with the fiscal quarter beginning January 1, 2020 and thereafter.

The Credit Facility contains a number of customary events of default, including, among others, for the non-payment of principal, interest or other amounts, the inaccuracy of certain representations and warranties, the failure to perform or observe certain covenants, a cross default to our other indebtedness including the Notes, certain events of bankruptcy or insolvency; certain ERISA events, the invalidity of certain loan documents, certain changes of control and the loss of certain classes of licenses to conduct gaming. If any event of default occurs, the lenders under the Credit Facility would be entitled to take various actions, including accelerating amounts outstanding thereunder and taking all actions permitted to be taken by a secured creditor.

On June 6, 2018, the Company executed an amendment that modified certain covenants in the Credit Facility to allow for considerations related to the acquisition of Tropicana. The borrowing capacity of the Revolving Credit Facility increased from $300 million to $500 million effective substantially concurrently with the consummation of the Tropicana Acquisition on October 1, 2018 and the maturity date of the Revolving Credit Facility extended to October 1, 2023.

Lumière Loan

In connection with the purchase of the real estate related to Lumière, GLPI, Tropicana St. Louis RE LLC, a Wholly owned subsidiary of the Company (“Tropicana St. Louis RE”), and the Company entered into a loan agreement, dated as of October 1, 2018 (the “Lumière Loan”), relating to a loan of $246 million by GLPI to Tropicana St. Louis RE to fund the entire purchase price of the real estate underlying Lumière and a guaranty by the Company of the amounts owed by Tropicana St. Louis RE. The Lumière Loan bears interest at a rate equal to (i) 9.09% until October 1, 2019 and (ii) 9.27% until October 1, 2020, and matures on October 1, 2020. The Lumière Loan is secured by a first priority mortgage on the Lumière Real Property until October 1, 2019. In connection with the issuance of the Lumière Loan, the Company agreed to use its commercially reasonable efforts to transfer one or more of the Grand Victoria Casino, Isle Casino Bettendorf, Isle Casino Hotel Waterloo, Isle of Capri Lula, Lady Luck Casino Vicksburg and Mountaineer Casino, Racetrack and Resort or such other property or properties mutually acceptable to Tropicana St. Louis RE and GLPI, provided that the aggregate value of such property, individually or collectively, is at least $246 million (the “Replacement Property”), to GLPI with a simultaneous leaseback to the Company of such Replacement Property. In connection with such Replacement Property sale, (i) the Company and GLPI will enter into an amendment to the Master Lease to revise the economic terms to include the Replacement Property, (ii) GLPI, or one of its affiliates, will assume the Lumière Loan and Tropicana St. Louis RE’s obligations under the Lumière Loan in consideration of the acquisition of the Replacement Property and the obligations of Tropicana St. Louis RE and the Company under the Lumière Loan will be deemed to have been satisfied, (iii) the Lumière Real Property will be released from the lien placed on it in connection with the Lumière Loan (if such lien has not yet been released in accordance with the terms of the Lumière Loan) and (iv) in the event the value of the Replacement Property is greater than the outstanding obligations of Tropicana St. Louis RE under the Lumière Loan, GLPI will pay Tropicana St. Louis RE the difference between the value of the Replacement Property and the amount of outstanding obligations under the Lumière Loan. If such Replacement Property transaction is not consummated prior to the maturity date of the Lumière Loan, other than as a result of certain failures to perform by GLPI, then the amounts outstanding will be paid in full and the rent under the Master Lease will automatically increase, subject to certain escalations.

Debt Covenant Compliance

As of December 31, 2018, we were in compliance with all of the covenants under the 7% Senior Notes due 2023, 6% Senior Notes due 2025, 6% Senior Notes due 2026, the Credit Facility, the Lumière Loan and the Master Lease.

Other Long-Term Liabilities

In conjunction with the Isle Acquisition, the Company acquired the existing lease and management agreements at its Nemacolin location. Under the terms of the agreements, Nemacolin Woodland Resort (“Resort”) provided land, land improvements and a building for the casino property. The Company was deemed, for accounting purposes only, to be the owner of these assets provided by the Resort during the construction and casino operating periods due to the Company’s continuing involvement. Therefore, the transaction was accounted for using the direct financing method. As of December 31, 2018 and December 31, 2017, the Company recorded property and equipment, net of accumulated depreciation, of $1.2 million and $4.2 million, respectively, and a liability of $2.4 and $4.5 million, respectively. The decreases in the assets and liability were primarily due to the impairment charges (see Note 5) and the Company’s finalization of its purchase price accounting related to the Isle Acquisition. These assets and liabilities are reported as held for sale at December 31, 2018.

In conjunction with the Isle Acquisition, the Company acquired the existing lease and management agreements at its Bettendorf location. Under the terms of the agreements with the City of Bettendorf, Iowa, the Company leases, manages, and provides financial and operating support for the convention center (Quad-Cities Waterfront Convention Center). The Company was deemed, for accounting purposes only, to be the owner of the convention center due to the Company’s continuing involvement. Therefore, the transaction was accounted for using the direct financing method. As of December 31, 2018 and 2017, the Company recorded property and equipment, net of accumulated depreciation, of $11.7 million and $11.9 million, respectively, and a liability of $5.8 million and $12.5 million, respectively, in other long-term liabilities related to the agreement. The changes in property and equipment and in the liability were primarily due to the Company’s finalization of its purchase price accounting related to the Isle Acquisition.

Income Taxes

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Income Taxes

Note 12. Income Taxes

On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the “Tax Act”). The Tax Act makes broad and complex changes to the U.S. tax code, including, but not limited to, (1) reducing the U.S. federal corporate tax rate from 35% to 21%; (2) eliminating the corporate alternative minimum tax (AMT) and changing how existing AMT credits can be realized; (3) creating a new limitation on deductible interest expense; (4) changing rules related to uses and limitations of net operating loss carryforwards created in tax years beginning after December 31, 2017; (5) bonus depreciation that will allow for full expensing of qualified property; and (6) limitations on the deductibility of certain executive compensation.

The SEC staff issued Staff Accounting Bulletin (“SAB”) 118, which provides guidance on accounting for the tax effects of the Tax Act. SAB 118 provides a measurement period that should not extend beyond one year from the Tax Act enactment date for companies to complete the accounting under ASC 740. In accordance with SAB 118, a company must reflect the income tax effects of those aspects of the Tax Act for which the accounting under ASC 740 is complete. To the extent that a company’s accounting for certain income tax effects of the Tax Act is incomplete but it is able to determine a reasonable estimate, it must record a provisional estimate in the financial statements. If a company cannot determine a provisional estimate to be included in the financial statements, it should continue to apply ASC 740 on the basis of the provisions of the tax laws that were in effect immediately before the enactment of the Tax Act.

As of the fourth quarter of the year ended December 31, 2018, we have completed our accounting for the effects of the Tax Act.

As of December 31, 2017, in connection with our initial analysis of the impact of the Tax Act, for certain of our net deferred tax liabilities, we recorded a decrease of $111.9 million, net of the related change in valuation allowance, with a corresponding net adjustment to deferred income tax benefit as a result of the corporate rate reduction. We recorded a provisional benefit for 2017 expenditures based on our intent to fully expense all qualifying expenditures. We have made immaterial adjustments to the provisional amount as of December 31, 2018.

The components of the Company’s provision (benefit) for income taxes for the years ended December 31, 2018, 2017 and 2016 are presented below (amounts in thousands).

	2018			2017			2016
Current:
Federal	$	3,813		$	(3,959	)	$	(12	)
State		2,445			380			1,173
Local		304			(627	)		739
Total current		6,562			(4,206	)		1,900
Deferred:
Federal		16,561			(104,400	)		12,748
State		17,574			(186	)		(1,458	)
Local		(310	)		(7,977	)		(89	)
Total deferred		33,825			(112,563	)		11,201
Income tax (benefit) expense	$	40,387		$	(116,769	)	$	13,101

The following is a reconciliation of the statutory federal income tax rate to the Company’s effective tax rate for the years ended December 31, 2018, 2017 and 2016:

	2018				2017				2016
Federal statutory rate		21.0		%		35.0		%		35.0		%
State and local taxes		3.7		%		2.8		%		4.3		%
State tax rate adjustment		8.9		%		5.7		%		—		%
Stock compensation		(1.8	)	%		0.8		%		(0.9	)	%
Goodwill impairment		—		%		(27.1	)	%		—		%
Transaction expenses		—		%		(10.7	)	%		—		%
Tax Cuts and Jobs Act		(1.6	)	%		264.0		%		—		%
Valuation allowance		(0.3	)	%		(2.3	)	%		(3.6	)	%
Tax credits		(1.1	)	%		3.5		%		(1.8	)	%
Other		1.0		%		(2.6	)	%		1.8		%
Effective income tax rate		29.8		%		269.1		%		34.8		%

For the year ended December 31, 2018, the difference between the effective rate and the statutory rate is attributable primarily to state tax rate adjustment and changes in the effective state tax rate associated with the acquisitions of Elgin and Tropicana. The Company continues to provide for a valuation allowance against net federal and state deferred tax assets associated with non-operating land, the sale of which could result in capital losses that can only be offset against capital gains. The Company also continues to provide for a valuation allowance against net state deferred tax assets relating to certain operations in a few states. Management determined it was not more-likely-than-not that the Company will realize these net deferred tax assets.

For the year ended December 31, 2017, the difference between the effective rate and the statutory rate is attributable primarily to the impact of the Tax Act, non-deductible asset impairment charges and non-deductible transaction costs incurred and changes in the effective state tax rate associated with the acquisition of Isle.

For the year ended December 31, 2016, the difference between the effective rate and the statutory rate is attributable primarily to the release of a majority of the state valuation allowances on the Company’s West Virginia deferred tax assets and excess tax benefits on stock compensation under Accounting Standards Update 2016-09, Compensation – Stock Compensation, which the Company adopted effective the first quarter of 2016.

A valuation allowance is recognized if, based on the weight of available evidence, it is more-likely-than-not that some portion, or all, of the deferred tax asset will not be realized. Management must analyze all available positive and negative evidence regarding realization of the deferred tax assets and make an assessment of the likelihood of sufficient future taxable income. For the years ended December 31, 2018, 2017 and 2016, the Company released valuation allowances of $0.5 million, $5.2 million and $1.4 million, respectively.

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s net deferred taxes related to continuing operations at December 31, 2018 and 2017 are as follows (amounts in thousands):

	2018			2017
Deferred tax assets:
Loss carryforwards	$	31,880		$	58,245
Accrued expenses		19,306			10,806
Credit carryforwards		8,986			19,838
Financing obligation to GLPI		126,368			—
Other		9,623			11,336
		196,163			100,225
Deferred tax liabilities:
Identified intangibles		(214,756	)		(203,015	)
Fixed assets		(149,491	)		(28,375	)
Other		(6,560	)		(5,531	)
		(370,807	)		(236,921	)
Valuation allowance		(25,366	)		(26,271	)
Net deferred tax liabilities	$	(200,010	)	$	(162,967	)

As of December 31, 2018, the Company had federal and state net operating loss carryforwards of $40.7 million and $361.2 million, respectively. State net operating losses began to expire in 2018 and federal net operating losses begin to expire in 2030. As of December 31, 2018, the Company had federal jobs credit carryforwards of $9.0 million, which begin to expire in 2024.

The acquisitions of Elgin and Tropicana were treated as asset acquisitions for tax purposes and the assets and liabilities were stepped up to fair value. As a result, there are no deferred tax assets or liabilities recorded upon acquisition.

Utilization of net operating loss, credit, and other carryforwards are subject to annual limitations due to ownership changes as provided by the Internal Revenue Code of 1986, as amended and similar state provisions. An ownership change is defined as a greater than 50% change in ownership by 5% stockholders in any three‑year period. Under Sections 382 and 383 of the Internal Revenue Code of 1986, as amended, the Company had a “change in ownership” event that limits the utilization of net operating loss, credit, and other carryforwards that were previously available to Isle and the Company to offset future taxable income. The “change in ownership” event for Isle and the Company occurred on May 1, 2017 in connection with the merger with Isle of Capri. This limitation resulted in no significant loss of federal attributes, but did result in significant loss of state attributes. The federal and state net operating loss credit and other carryforwards are stated net of limitations.

As of December 31, 2018, there were no unrecognized tax benefits and the Company does not expect a significant increase or decrease to the total amounts of unrecognized tax benefits within the next twelve months. We recognize accrued interest and penalties related to unrecognized tax benefits in income tax expense.

The Company was notified by the Internal Revenue Service in October of 2016 that its federal tax return for the year ended December 31, 2014 had been selected for examination. In September 2017, the IRS informed the Company that they completed the examination of the tax return and made no changes. However, the Company may be subject to audit in the future and the outcome of tax audits cannot be predicted with certainty.

The Company and its subsidiaries file US federal income tax returns and various state and local income tax returns. The Company does not have tax sharing agreements with the other members within the consolidated ERI group. With few exceptions, the Company is no longer subject to US federal or state and local tax examinations by tax authorities for years before 2012.

Employee Benefit Plans

12 Months Ended

Dec. 31, 2018

Employee Benefits And Share Based Compensation [Abstract]

Employee Benefit Plans

Note 13. Employee Benefit Plans

401(k) Plans

The Company offers several 401(k) plans to substantially all employees who are not covered by collective bargaining agreements, who meet certain eligibility requirements, namely terms of service. Employer match policies vary between the plans.

The Company’s matching contributions totaled $2.4 million, $2.6 million and $1.5 million for the years ended December 31, 2018, 2017 and 2016, respectively.

Mountaineer’s qualified defined contribution plan (established by West Virginia legislation) covers substantially all of its employees. Contributions to the plan are based on 1/4% of the race track and simulcast wagering handles and approximately 1% of the net win from gaming operations until the racetrack reaches its Excess Net Terminal Income threshold, which for Mountaineer is approximately $160 million per year based on the state’s June 30 fiscal year. Contributions to the ERI 401(k) Plan for the benefit of Mountaineer employees were $1.1 million, $1.1 million and $1.2 million for the years ended December 31, 2018, 2017 and 2016, respectively.

Defined Benefit-Plan

Scioto Downs sponsors a noncontributory defined-benefit plan covering all full-time employees meeting certain age and service requirements. On May 31, 2001, the plan was amended to freeze eligibility, accrual of years of service and benefits. As of December 31, 2018, the fair value of the plan assets was $1.0 million, and the fair value of the benefit obligations was $0.7 million, resulting in an over-funded status of $0.3 million. The plan assets are comprised primarily of money market and mutual funds whose values are determined based on quoted market prices and are classified in Level 1 of the fair value hierarchy. We did not make cash contributions to the Scioto Downs pension plan during 2018, 2017 and 2016.

Trop AC Employees Variable Annuity Pension Plan

In connection with the collective bargaining agreement and related settlement agreement (the “Settlement Agreement”) that was executed in May 2014 between Trop AC and UNITE HERE Local 54 (“Local 54”), the parties agreed that Trop AC would establish a Variable Annuity Pension Plan (“VAPP”), a defined benefit pension plan, for certain Trop AC Local 54 employees.

Contributions to the VAPP through the end of the current collective bargaining agreement of February 29, 2020, will be calculated at $1.93 per straight time hour paid to employees covered by the agreement.

The components of net periodic benefit costs for the period beginning with the Tropicana Acquisition date of October 1, 2018 through December 31, 2018 related to the VAPP consists of the following (in thousands):

Service costs	$	808
Interest costs		150
Expected return on plan assets		(178	)
Amortization of net (gain) loss		—
Net periodic benefit cost	$	780

Net periodic benefit costs are reported in the various operation departments in the Consolidated Statements of Income.

The change in the projected benefit obligation, change in plan assets and funded status for the period beginning with the Tropicana Acquisition date of October 1, 2018 through December 31, 2018 is as follows (in thousands):

Change in benefit obligations:
Projected benefit obligation beginning of period	$	12,024
Service and interest cost during period		958
Benefit payments during period		—
Expenses during period		(29	)
Actuarial gain		(303	)
Projected benefit obligation end of period	$	12,650
Change in plan assets:
Fair value of plan assets at beginning of period	$	14,283
Return on plan assets during period		76
Benefit payments during period		—
Expenses during period		(29	)
Employer contributions		—
Fair value of plan assets at end of period	$	14,330
Funded status at end of period	$	1,680

As of December 31, 2018, the VAPP was in an overfunded status in the amount of $1.7 million, which is included in other assets, net on the Consolidated Balance Sheet. Actuarial assumptions used to determine the benefit obligations for the VAPP include an expected rate of return on assets of 5%, discount rate of 5.0% pre-retirement and a discount rate of 3.0% post-retirement, which, as defined in the Settlement Agreement, will result in no adjustments to the plan benefit.

The plan assets are comprised primarily of money market and mutual funds whose value is determined based on quoted market prices and are classified as Level 1 within the fair value hierarchy.

Future estimated expected benefit payments for 2019 through 2028 are as follows (in thousands):

		Expected Benefit Payments
2019	$		125
2020			172
2021			236
2022			346
2023			446
2024 through 2028			3,879
	$		5,204

Trop AC’s net periodic pension cost for the year ended December 31, 2019 is expected to be approximately $3.1 million.

Stock-Based Compensation and Stockholder's Equity

12 Months Ended

Dec. 31, 2018

Share Based Compensation [Abstract]

Stock-Based Compensation

Note 14. Stock-Based Compensation and Stockholder’s Equity

Stock‑Based Awards

The Board of Directors (“BOD”) adopted the Eldorado Resorts, Inc. 2015 Equity Incentive Plan (“2015 Plan”) on January 23, 2015 and our stockholders subsequently approved the adoption of the 2015 Plan on June 23, 2015. The Plan permits the granting of stock options, including incentive stock options (“ERI Stock Options”), stock appreciation rights, restricted stock or restricted stock units (“RSUs”), performance awards, and other stock-based awards and dividend equivalents. ERI Stock Options primarily vest ratably over three years and RSUs granted to employees and executive officers primarily vest and become non-forfeitable upon the third anniversary of the date of grant. RSUs granted to non-employee directors vest immediately and are delivered upon the date that is the earlier of termination of service on the BOD or the consummation of a change of control of the Company. The performance awards relate to the achievement of defined levels of performance and are generally measured over a one or two-year performance period depending upon the award agreement. If the performance award levels are achieved, the awards earned will vest and become payable at the end of the vesting period, defined as either a one or two calendar year period following the performance period. Payout ranges are from 0% up to 200% of the award target.

The outstanding equity awards of Isle were converted into comparable equity awards of ERI stock upon consummation of the merger in May 2017.

A summary of the RSU activity, including performance awards and converted Isle awards, for the years ended December 31, 2016, 2017 and 2018 is as follows:

	Units				Weighted- Average Grant Date Fair Value		Weighted-Average Remaining Contractual Life			Aggregate Fair Value
					(in millions)					(in millions)
Unvested outstanding as of January 1, 2016		827,383		$		4.09		2.12	$		3.40
Granted (1)		410,694				10.81
Vested		(255,707	)			5.83
Unvested outstanding as of December 31, 2016		982,370		$		6.45		1.41			6.33
Granted (1)		600,206				20.91
Exchanged		860,557				18.94
Forfeited		(11,870	)			15.74
Vested		(851,764	)			18.37
Unvested outstanding as of December 31, 2017		1,579,499		$		12.25		0.92			19.35
Granted (1)		574,753				33.91
Vested		(860,995	)			9.79
Canceled		(9,885	)			19.13
Unvested outstanding as of December 31, 2018		1,283,372		$		23.93		1.41	$		30.71

(1)	Included are 32,284, 46,282, and 34,920 RSUs granted to non-employee members of the BOD during the year ended December 31, 2018, 2017 and 2016, respectively.

As of December 31, 2018 and 2017, the Company had $18.0 million and $11.1 million, respectively, of unrecognized compensation expense. The RSUs are expected to be recognized over a weighted-average period of 1.41 years and 0.92 years, respectively.

The Company accounts for stock-based compensation in accordance with ASC 718, Compensation—Stock Compensation. Total stock-based compensation expense in the accompanying consolidated statements of income was $13.1 million, $6.3 million and $3.3 million during the years ended December 31, 2018, 2017 and 2016, respectively. These amounts are included in corporate expenses and, in the case of certain property positions, general and administrative expenses in the Company’s Consolidated Statements of Income. We recognized a reduction in income tax expense of $4.8 million, $1.0 million and $0.8 million for the year ended December 31, 2018, 2017 and 2016, respectively, for excess tax benefits related to stock-based compensation.

A summary of the ERI Stock Option activity for the years ended December 31, 2016, 2017 and 2018:

				Weighted-
				Average
				Exercise
	Options			Price
Outstanding as of January 1, 2016 (1)		312,200		$	6.94
Expired		(10,000	)		11.30
Exercised		(132,900	)		2.89
Outstanding as of December 31, 2016 (1)		169,300			9.94
Exchanged		1,351,168			10.12
Expired		(62,871	)		4.63
Exercised		(1,185,745	)		10.45
Outstanding as of December 31, 2017 (1)		271,852			9.63
Expired		(15,776	)		10.89
Exercised		(120,120	)		9.09
Outstanding as of December 31, 2018 (1)		135,956		$	9.96

(1)	119,505 and 228,143 options were exercisable as of December 31, 2018 and 2017, respectively. All outstanding options as of December 31, 2016 and January 1, 2016 were exercisable.

Cash received from the exercise of stock options was $0.2 million and $2.9 million for the years ended December 31, 2018 and 2017, respectively.

A summary of the ERI Restricted Stock Awards activity for the years ended December 31, 2016, 2017 and 2018 is as follows:

				Weighted-
				Average
				Grant Date
	Restricted Stock			Fair Value
Outstanding as of December 31, 2016		—		$	—
Exchanged (1)		180,374			19.23
Forfeited		(1,602	)		19.13
Vested		(167,963	)		19.24
Outstanding as of December 31, 2017		10,809			19.13
Vested		(10,809	)		19.13
Outstanding as of December 31, 2018		—		$	—

(1)	Represents exchanged Isle Restricted Stock Awards as a result of the Isle Acquisition.

Share Repurchase Program

In November 2018 the BOD authorized a $150 million common stock repurchase program (the “Share Repurchase Program”) pursuant to which the Company may, from time to time, repurchase shares of common stock on the open market (either with or without a 10b5-1 plan) or through privately negotiated transactions. The Share Repurchase Program has no time limit and may be suspended or discontinued at any time without notice. There is no minimum number of shares of common stock that the Company is required to repurchase under the Share Repurchase Program.

The Company acquired 223,823 shares of common stock at an aggregate value of $9.1 million and an average of $40.80 per share during the year ended December 31, 2018.

Earnings per Share

12 Months Ended

Dec. 31, 2018

Earnings Per Share Basic And Diluted [Abstract]

Earnings per Share

Note 15. Earnings per Share

The following table illustrates the required disclosure of the reconciliation of the numerators and denominators of the basic and diluted net income per share computations during the years ended December 31, 2018, 2017 and 2016 (dollars in thousands, except per share amounts):

	2018		2017		2016
Net income available to common stockholders	$	95,235	$	73,380	$	24,527

Shares outstanding:
Weighted average shares outstanding – basic		77,458,902		67,133,531		47,033,311
Effect of dilutive securities:
Stock options		119,418		98,294		96,515
RSUs		703,781		870,989		571,736
Weighted average shares outstanding – diluted		78,282,101		68,102,814		47,701,562

Net income per common share attributable to common stockholders – basic:	$	1.23	$	1.09	$	0.52
Net income per common share attributable to common stockholders – diluted:	$	1.22	$	1.08	$	0.51

Fair Value Measurements

12 Months Ended

Dec. 31, 2018

Fair Value Disclosures [Abstract]

Fair Value Measurements

Note 16. Fair Value Measurements

Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Accordingly, fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, there is a three‑tier fair value hierarchy, which prioritizes the inputs used in measuring fair values as follows:

•

Level 1 Inputs: Quoted market prices in active markets for identical assets or liabilities.

•

Level 2 Inputs: Observable market‑based inputs or unobservable inputs that are corroborated by market data.

•

Level 3 Inputs: Unobservable inputs that are not corroborated by market data. Level 3 assets include financial instruments whose value is determined using pricing models relying on stock volatility of 44% and risk free rate of 2.7%.

The following methods and assumptions are used to estimate the fair value of each class of financial instruments for which it is practical to estimate fair value:

Cash and Cash Equivalents: Cash equivalents include cash held in money market funds and investments that can be redeemed immediately at the current net asset value per share. A money market fund is a mutual fund whose investments are primarily in short‑term debt securities designed to maximize current income with liquidity and capital preservation, usually maintaining per share net asset value at a constant amount, such as one dollar. Cash and cash equivalents also include cash maintained for gaming operations. The carrying amounts approximate the fair value because of the short maturity of those instruments (Level 1).

Restricted Cash and Investments: The estimated fair values of our restricted cash and investments are based upon quoted prices available in active markets (Level 1), or quoted prices for similar assets in active and inactive markets (Level 2), or quoted prices available in active markets adjusted for time restrictions related to the sale of the investment (Level 3) and represent the amounts we would expect to receive if we sold our restricted cash and investments.

Restricted Investment: In November 2018, we entered into a 20-year agreement with The Stars Group Inc. (“TSG”) pursuant to which we agreed to provide TSG with options to obtain access to our second skin for online sports wagering and third skin for real money online gaming and poker, in each case with respect to our properties in the United States. Under the terms of the agreement, we will receive a revenue share from the operation of the applicable verticals by TSG under our licenses. Pursuant to the terms of the TSG agreement, we received 1.1 million TSG common shares and we may receive an additional $5.0 million in TSG common shares upon the exercise of the first option by TSG. We may also receive additional TSG common shares in the future based on TSG net gaming revenue generated in our markets. The initial 1.1 million shares are subject to a restriction on transfer and may not be sold until November 2019.

Accounts Receivable and Credit Risk: The allowance is estimated based on specific review of customer accounts as well as historical collection experience and current economic and business conditions. Management believes that no significant concentrations of credit risk related to receivables existed.

Marketable Securities: Marketable securities consist primarily of trading securities held the Company’s captive insurance subsidiary. The estimated fair values of the Company’s marketable securities are determined on an individual asset basis based upon quoted prices of identical assets available in active markets (Level 1), quoted prices of identical assets in inactive markets, or quoted prices for similar assets in active and inactive markets (Level 2), and represent the amounts we would expect to receive if we sold these marketable securities.

Long‑term Debt: The fair value of our long-term debt or other long-term obligations is estimated based on the quoted market price of the underlying debt issue (Level 1) or, when a quoted market price is not available, the discounted cash flow of future payments utilizing current rates available to us for the debt of similar remaining maturities (Level 2). Debt obligations with a short remaining maturity have a carrying amount that approximates fair value.

Acquisition‑Related Contingent Considerations: Contingent consideration related to the July 2003 acquisition of Scioto Downs represents the estimate of amounts to be paid to former stockholders of Scioto Downs under certain earn-out provisions. Acquisition related contingent considerations of $0.5 million is included in accrued other liabilities on the Consolidated Balance Sheets as of December 31, 2018 and 2017.

Items Measured at Fair Value on a Recurring Basis: The following table sets forth the assets measured at fair value on a recurring basis, by input level, in the Consolidated Balance Sheets at December 31, 2018:

	December 31, 2018
Assets:	Level 1		Level 2		Level 3			Total
Restricted cash and investments	$	19,481	$	4,467	$		16,008		$	39,956
Marketable securities		9,515		7,442			—			16,957

	December 31, 2017
Assets:	Level 1		Level 2			Level 3		Total
Restricted cash and investments	$	9,055	$	4,098	$		—		$	13,153
Marketable securities		7,906		9,725			—			17,631

The change in restricted investments valued using Level 3 inputs for the year ended December 31, 2018 is as follows:

		Level 3 Investment
Value of investment received	$		18,595
Unrealized loss in restricted investments			(2,587	)
Fair value at December 31, 2018	$		16,008

There were no transfers between Level 1, Level 2 and Level 3 investments.

The estimated fair values of the Company’s financial instruments are as follows (amounts in thousands):

	December 31, 2018				December 31, 2017
	Carrying		Fair		Carrying		Fair
	Amount		Value		Amount		Value
Financial liabilities:
7% Senior Notes due 2023	$	368,925	$	385,312	$	367,854	$	400,800
6% Senior Notes due 2025		880,086		840,000		880,889		914,375
6% Senior Notes due 2026		580,370		567,000		—		—
Term Loan		938,324		916,088		938,002		956,750
Revolving Credit Facility		245,000		245,000		—		—
Lumière Loan		246,000		246,000		—		—
Other long-term debt		2,440		2,440		2,531		2,531
Capital leases		590		590		917		917

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Commitments and Contingencies

12 Months Ended

Dec. 31, 2018

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 17. Commitments and Contingencies

Capital Leases. The Company leases certain equipment under agreements classified as capital leases. The future minimum lease payments, including interest, at December 31, 2018 were $0.5 million, $0.1 million, $0.1 million and $0.1 million in 2019, 2020, 2021 and 2022, respectively. After reducing these amounts for interest of $0.1 million, the present value of the minimum lease payments at December 31, 2018 was $0.5 million.

Operating Leases. The Company leases land and certain equipment, including some of our slot machines, timing and photo finish equipment, videotape and closed-circuit television equipment, and certain pari‑mutuel equipment, under operating leases. Future minimum payments under non‑cancellable operating leases with initial terms of one year or more consisted of the following at December 31, 2018 (in thousands):

	Leases
2019	$	23,250
2020		20,172
2021		18,605
2022		17,467
2023		17,362
Thereafter		178,247
	$	275,103

Total rental expense under operating leases totaled $42.9 million, $28.2 million and $17.0 million for the years ended December 31, 2018, 2017 and 2016, respectively.

Litigation. The Company is a party to various legal and administrative proceedings, which have arisen in the normal course of its business. Estimated losses are accrued for these proceedings when the loss is probable and can be estimated. The current liability for the estimated losses associated with these proceedings is not material to the Company’s consolidated financial condition and those estimated losses are not expected to have a material impact on its results of operations. In addition, the Company maintains what it believes is adequate insurance coverage to further mitigate the risks of such proceedings. However, such proceedings can be costly, time consuming and unpredictable and, therefore, no assurance can be given that the final outcome of such proceedings may not materially impact the Company’s consolidated financial condition or results of operations. Further, no assurance can be given that the amount of scope of existing insurance coverage will be sufficient to cover losses arising from such matter.

Collective Bargaining Agreements. As of December 31, 2018, we had approximately 18,700 employees and 21 collective bargaining agreements covering approximately 3,400 employees. Two collective bargaining agreements are scheduled to expire in 2019, and we are currently renegotiating three that expired in 2018. There can be no assurance that we will be able to extend or enter into replacement agreements. If we are able to extend or enter into replacement agreements, there can be no assurance as to whether the terms will on comparable terms to the existing agreements.

Agreements with Horsemen and Pari-mutuel Clerks. The Federal Interstate Horse Racing Act and the state racing laws in West Virginia, Ohio and Pennsylvania require that, in order to simulcast races, we have written agreements with the horse owners and trainers at those racetracks. In addition, in order to operate slot machines in West Virginia, we are required to enter into written agreements regarding the proceeds of the slot machines (a “proceeds agreement”) with a representative of a majority of the horse owners and trainers and with a representative of a majority of the pari‑mutuel clerks. We are required to have a proceeds agreement in effect on July 1 of each year with the horsemen and the pari‑mutuel clerks as a condition to renewal of our video lottery license for such year. If the requisite proceeds agreement is not in place as of July 1 of a particular year, Mountaineer’s application for renewal of its video lottery license could be denied, in which case Mountaineer would not be permitted to operate either its slot machines or table games. In Pennsylvania and Ohio, we must have an agreement with the representative of the horse owners. We have all the requisite agreements in place referenced in this sub section at Mountaineer, Scioto Downs and Presque Isle Downs. Certain agreements referenced above may be terminated upon written notice by either party.

Related Parties

12 Months Ended

Dec. 31, 2018

Related Parties

Note 18. Related Parties

REI

As of December 31, 2018, REI owned approximately 14.4% of outstanding common stock of the Company. The directors of REI are Company’s Executive Chairman of the Board, Gary L. Carano, its Chief Executive Officer and Board member, Thomas R. Reeg, and its former Senior Vice President of Regional Operations, Gene Carano. In addition, Gary L. Carano also serves as the Vice President of REI and Gene Carano also serves as the Secretary and Treasurer of REI. Members of the Carano Family, including Gary L. Carano and Gene Carano, own the equity interests in REI. As such, the Carano Family has the ability to significantly influence the affairs of the Company. Donald L. Carano, who was formerly the president and a director of REI, received remuneration in the amount of, $0.3 million and $0.4 million in 2017 and 2016, respectively, for his service to ERI and its subsidiaries. For each of the years ended December 31, 2018, 2017 and 2016, there were no related party transactions between the Company and the Carano Family other than compensation, including salary and equity incentives and the CSY Lease listed below.

Hotel Casino Management, Inc.

Prior to November 2017, Hotel Casino Management, Inc., which is beneficially owned by members of the Poncia family, including Raymond J. Poncia, owned more than 5% of the outstanding common stock of the Company. Raymond J. Poncia received remuneration in the amount of $0.2 million in each of 2018, 2017 and 2016 for services that he provided to ERI and its subsidiaries.

C. S. & Y. Associates

The Company owns the entire parcel on which Eldorado Reno is located, except for approximately 30,000 square feet which is leased from C. S. & Y. Associates which is an entity partially owned by REI (the “CSY Lease”). The CSY Lease expires on June 30, 2057. Rent pursuant to the CSY Lease amounted to $0.6 million in each of the years ended December 31, 2018, 2017 and 2016. As of December 31, 2018 and 2017 there were no amounts due to or from C.S. & Y. Associates.

Segment Information

12 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

Segment Information

Note 19. Segment Information

The following table sets forth, for the period indicated, certain operating data for our reportable segments. The executive decision maker of our Company reviews operating results, assesses performance and makes decisions on a “significant market” basis. Management views each of our casinos as an operating segment. Operating segments are aggregated based on their similar economic characteristics, types of customers, types of services and products provided, and their management and reporting structure. Prior to our acquisition of Isle, our principal operating activities occurred in three geographic regions: Nevada, Louisiana and parts of the eastern United States. Following the Isle Acquisition, the Company’s principal operating activities occurred in four geographic regions and reportable segments: West, Midwest, South and East. Following the Tropicana Acquisition and Elgin Acquisition, and additional segment, Central, was added increasing our reportable segments to five.

The following table summarizes our current segments and dates at which each property was aggregated into the segment:

Segment	Property	Date Acquired	State
West	Eldorado Reno	(a)	Nevada
	Silver Legacy	(a)	Nevada
	Circus Reno	(a)	Nevada
	MontBleu	October 1, 2018	Nevada
	Laughlin	October 1, 2018	Nevada
	Isle Black Hawk	May 1, 2017	Colorado
	Lady Luck Black Hawk	May 1, 2017	Colorado

Midwest	Waterloo	May 1, 2017	Iowa
	Bettendorf	May 1, 2017	Iowa
	Boonville	May 1, 2017	Missouri
	Cape Girardeau	May 1, 2017	Missouri
	Caruthersville	May 1, 2017	Missouri
	Kansas City	May 1, 2017	Missouri

South	Pompano	May 1, 2017	Florida
	Eldorado Shreveport	(a)	Louisiana
	Lake Charles	May 1, 2017	Louisiana
	Baton Rouge	October 1, 2018	Louisiana
	Lula	May 1, 2017	Mississippi
	Vicksburg	May 1, 2017	Mississippi
	Greenville	October 1, 2018	Mississippi

East	Presque Isle Downs	(a)	Pennsylvania
	Nemacolin	May 1, 2017	Pennsylvania
	Scioto Downs	(a)	Ohio
	Mountaineer	(a)	West Virginia
	Trop AC	October 1, 2018	New Jersey

Central	Elgin	August 7, 2018	Illinois
	Lumière	October 1, 2018	Missouri
	Evansville	October 1, 2018	Indiana

(a)	Property was aggregated into segment prior to January 1, 2016.

	For the Year Ended December 31,
	2018		2017		2016
	(in thousands)
Capital Expenditures, Net
West	$	75,297	$	44,952	$	22,812
Midwest		18,889		9,115		—
South		18,149		7,672		5,842
East		19,334		9,794		14,284
Central		3,868		—		—
Corporate		11,878		11,628		235
Total	$	147,415	$	83,161	$	43,173

	Year ended
	Ended December 31,
	2018			2017			2016
	(in thousands)
Revenues and expenses
West:
Net operating revenues	$	483,532		$	410,319		$	327,541
Depreciation and amortization		40,131			26,950			20,221
Operating income		84,548			66,108			41,451
Midwest:
Net operating revenues		397,008			268,879			—
Depreciation and amortization		33,083			20,997			—
Operating income		105,809			62,071			—
South:
Net operating revenues		461,181			338,259			133,557
Depreciation and amortization		37,357			25,307			7,861
Operating income		64,851			3,680			23,378
East:
Net operating revenues		571,272			462,835			439,367
Depreciation and amortization		27,913			30,517			34,887
Operating income		97,963			68,101			53,361
Central:
Net operating revenues		142,485			—			—
Depreciation and amortization		13,583			—			—
Operating income		24,240			—			—
Corporate:
Net operating revenues		529			506			—
Depreciation and amortization		5,362			2,120			480
Operating loss		(67,308	)		(105,150	)		(29,490	)
Total Reportable Segments
Net operating revenues	$	2,056,007		$	1,480,798		$	900,465
Depreciation and amortization		157,429			105,891			63,449
Operating income	$	310,103		$	94,810		$	88,700
Reconciliations to consolidated net income:
Operating income	$	310,103		$	94,810		$	88,700
Unallocated income and expenses:
Interest expense, net		(171,732	)		(99,769	)		(50,917	)
Loss on early retirement of debt, net		(162	)		(38,430	)		(155	)
Unrealized loss on restricted investment		(2,587	)		—			—
(Provision) benefit for income taxes		(40,387	)		116,769			(13,101	)
Net income	$	95,235		$	73,380		$	24,527

		West		Midwest		South		East		Central		Corporate, Other & Eliminations			Total
Balance sheet as of December 31, 2018	(in thousands)
Total assets		$	1,710,375	$	1,245,521	$	1,068,258	$	2,166,730	$	1,457,961	$	(1,737,383	)	$	5,911,462

Balance sheet as of December 31, 2017
Total assets		$	1,278,062	$	1,188,758	$	804,318	$	1,185,806	$	—	$	(910,472	)	$	3,546,472


			Balance at January 1, 2018			Acquisitions			Impairments				Finalization of Isle Purchase Price Accounting				Assets Held for Sale				Balance at December 31, 2018
	(in thousands)
Goodwill by reportable segment:
West		$		152,775	$		68,100	$		—				(14	)			—		$		220,861
Midwest				327,088			—			—				(4,343	)			—				322,745
South				200,417			24,300			(9,815	)			(1,752	)			—				213,150
East				66,826			113,782			—				—				(3,122	)			177,486
Central				—			74,074			—				—				—				74,074
Total Goodwill		$		747,106	$		280,256	$		(9,815	)	$		(6,109	)	$		(3,122	)	$		1,008,316


			Balance at January 1, 2017			Acquisitions			Impairments				Finalization of Isle Purchase Price Accounting				Assets Held for Sale				Balance at December 31, 2017
	(in thousands)
Goodwill by reportable segment:
West		$		—	$		152,775	$		—				—				—		$		152,775
Midwest				—			327,088			—				—				—				327,088
South				—			235,333			(34,916	)			—				—				200,417
East				66,826			—			—				—				—				66,826
Central				—			—			—				—				—				—
		$		66,826	$		715,196	$		(34,916	)	$		—		$		—		$		747,106

Consolidating Condensed Financial Information

12 Months Ended

Dec. 31, 2018

Condensed Consolidating Financial Information [Abstract]

Consolidating Condensed Financial Information

Note 20. Consolidating Condensed Financial Information

Certain of our wholly-owned subsidiaries have fully and unconditionally guaranteed on a joint and several basis, the payment of all obligations under our 7% Senior Notes due 2023, 6% Senior Notes due 2025, 6% Senior Notes due 2026 and Credit Facility.

The following wholly-owned subsidiaries of the Company are guarantors, on a joint and several basis, under the 7% Senior Notes due 2023, 6% Senior Notes due 2025, 6% Senior Notes due 2026 and Credit Facility: Isle of Capri Casinos LLC; Eldorado Holdco LLC; Eldorado Resorts LLC; Eldorado Shreveport 1 LLC; Eldorado Shreveport 2 LLC; Eldorado Casino Shreveport Joint Venture; MTR Gaming Group Inc.; Mountaineer Park Inc.; Presque Isle Downs Inc.; Scioto Downs Inc.; Eldorado Limited Liability Company; Circus and Eldorado Joint Venture, LLC; CC Reno LLC; CCR Newco LLC; Black Hawk Holdings, L.L.C.; IC Holdings Colorado, Inc.; CCSC/Blackhawk, Inc.; IOC-Black Hawk Distribution Company, LLC; IOC-Black Hawk County, Inc.; Isle of Capri Bettendorf, L.C.; PPI, Inc.; Pompano Park Holdings LLC; IOC-Lula, Inc.; IOC-Kansas City, Inc.; IOC-Boonville, Inc.; IOC-Caruthersville, LLC; IOC Cape Girardeau, LLC; IOC-Vicksburg, Inc.; IOC-Vicksburg, L.L.C.; Rainbow Casino-Vicksburg Partnership, L.P.; IOC Holdings L.L.C.; St. Charles Gaming Company, L.L.C Elgin Holdings I LLC; Elgin Holdings II LLC, PPI Development Holdings LLC; PPI Development LLC; Tropicana Entertainment, Inc.; New Tropicana Holdings, Inc.; New Tropicana OpCo, Inc.; TLH LLC; TropWorld Games LLC; TEI R7 Investment LLC; TEI Management Services LLC; Tropicana St. Louis LLC; TEI (St. Louis) RE, LLC; TEI (STLH), LLC; TEI (ES), LLC; Aztar Riverboat Holding Company, LLC; Aztar Indiana Gaming Company, LLC ; New Jazz Enterprises, LLC; Catfish Queen Partnership in Commendam; Centroplex Centre Convention Hotel LLC; Columbia Properties Tahoe, LLC; MB Development, LLC; Lighthouse Point, LLC and Tropicana Laughlin, LLC. Each of the subsidiaries’ guarantees is joint and several with the guarantees of the other subsidiaries.

The consolidating condensed balance sheet as of December 31, 2018 is as follows:

Balance Sheet	Eldorado Resorts, Inc. (Parent Obligor)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating and Eliminating Entries			Eldorado Resorts, Inc. Consolidated
	(in thousands)
Current assets	$	48,268	$	497,309	$	27,619	$	—		$	573,196
Intercompany receivables		—		11,885		23,988		(35,873	)		—
Investments in subsidiaries		3,648,961		—		—		(3,648,961	)		—
Property and equipment, net		18,555		2,859,271		4,780		—			2,882,606
Other assets		35,072		2,425,699		26,674		(31,785	)		2,455,660
Total assets	$	3,750,856	$	5,794,164	$	83,061	$	(3,716,619	)	$	5,911,462

Current liabilities	$	48,579	$	328,319	$	25,279	$	—		$	402,177
Intercompany payables		10,873		—		25,000		(35,873	)		—
Long-term financing obligation to GLPI		—		959,835		—		—			959,835
Long-term debt, less current maturities		2,640,046		621,193		34		—			3,261,273
Deferred income tax liabilities		—		231,795		—		(31,785	)		200,010
Other accrued liabilities		22,206		36,808		—		—			59,014
Stockholders’ equity		1,029,152		3,616,214		32,748		(3,648,961	)		1,029,153
Total liabilities and stockholders’ equity	$	3,750,856	$	5,794,164	$	83,061	$	(3,716,619	)	$	5,911,462

The consolidating condensed balance sheet as of December 31, 2017 is as follows:

Balance Sheet	Eldorado Resorts, Inc. (Parent Obligor)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating and Eliminating Entries			Eldorado Resorts, Inc. Consolidated
	(in thousands)
Current assets	$	27,572	$	201,321	$	22,139	$	—		$	251,032
Intercompany receivables		274,148		—		34,492		(308,640	)		—
Investments in subsidiaries		2,437,287		—		—		(2,437,287	)		—
Property and equipment, net		12,042		1,483,473		7,302		—			1,502,817
Other assets		37,458		1,764,291		27,283		(36,409	)		1,792,623
Total assets	$	2,788,507	$	3,449,085	$	91,216	$	(2,782,336	)	$	3,546,472

Current liabilities	$	28,677	$	169,348	$	25,726	$	—		$	223,751
Intercompany payables		—		283,640		25,000		(308,640	)		—
Long-term debt, less current maturities		1,814,185		375,000		393		—			2,189,578
Deferred income tax liabilities		—		199,376		—		(36,409	)		162,967
Other accrued liabilities		4,127		19,624		4,828		—			28,579
Stockholders’ equity		941,518		2,402,097		35,269		(2,437,287	)		941,597
Total liabilities and stockholders’ equity	$	2,788,507	$	3,449,085	$	91,216	$	(2,782,336	)	$	3,546,472

The consolidating condensed statements of income for the year ended December 31, 2018 is as follows:

Statements of Income:

	Eldorado Resorts, Inc. (Parent Obligor)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating and Eliminating Entries			Eldorado Resorts, Inc. Consolidated
	(in thousands)
Revenues:
Gaming and pari-mutuel commissions	$	—		$	1,522,572		$	30,819		$	—		$	1,553,391
Non-gaming		11			492,679			9,926			—			502,616
Net revenues		11			2,015,251			40,745			—			2,056,007

Operating expenses:
Gaming and pari-mutuel commissions		—			728,709			20,580			—			749,289
Non-gaming		—			303,706			2,597			—			306,303
Marketing and promotions		—			104,402			1,759			—			106,161
General and administrative		—			342,185			7,413			—			349,598
Corporate		42,466			2,405			1,761			—			46,632
Impairment charges		—			9,815			3,787			—			13,602
Management fee		(25,340	)		25,340			—			—			—
Depreciation and amortization		3,655			153,396			378			—			157,429
Total operating expenses		20,781			1,669,958			38,275			—			1,729,014

Loss on sale of asset or disposal of property and equipment		—			(828	)		(7	)		—			(835	)
Proceeds from terminated sale		5,000			—			—			—			5,000
Transaction expenses		(11,369	)		(9,473	)		—			—			(20,842	)
Equity in loss of unconsolidated affiliate		—			(213	)		—			—			(213	)
Operating (loss) income		(27,139	)		334,779			2,463			—			310,103

Interest expense, net		(115,745	)		(54,226	)		(1,761	)		—			(171,732	)
Loss on early retirement of debt, net		(162	)		—			—			—			(162	)
Unrealized loss		(2,587	)		—									(2,587	)
Subsidiary income (loss)		201,353			—			—			(201,353	)		—
Income (loss) before income taxes		55,720			280,553			702			(201,353	)		135,622
Income tax benefit (provision)		39,515			(80,474	)		572			—			(40,387	)
Net income (loss)	$	95,235		$	200,079		$	1,274		$	(201,353	)	$	95,235

The consolidating condensed statements of income for the year ended December 31, 2017 is as follows:

Statements of Income:

	Eldorado Resorts, Inc. (Parent Obligor)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating and Eliminating Entries			Eldorado Resorts, Inc. Consolidated
	(in thousands)
Revenues:
Gaming and pari-mutuel commissions	$	—		$	1,076,957		$	22,070		$	—		$	1,099,027
Non-gaming		—			374,246			7,525			—			381,771
Net revenues		—			1,451,203			29,595			—			1,480,798

Operating expenses:
Gaming and pari-mutuel commissions		—			546,207			14,882			—			561,089
Non-gaming		—			250,160			2,419			—			252,579
Marketing and promotions		—			80,893			2,281			—			83,174
General and administrative		—			235,905			5,132			—			241,037
Corporate		31,620			(4,318	)		3,437			—			30,739
Impairment charges		—			38,016			—			—			38,016
Management fee		(31,620	)		31,620			—			—			—
Depreciation and amortization		1,030			104,454			407			—			105,891
Total operating expenses		1,030			1,282,937			28,558			—			1,312,525

Loss on sale of asset or disposal of property and equipment		(20	)		(299	)		—			—			(319	)
Proceeds from terminated sale		—			20,000									20,000
Transaction expenses		(70,865	)		(21,912	)		—			—			(92,777	)
Equity in loss of unconsolidated affiliate		—			(367	)		—			—			(367	)
Operating (loss) income		(71,915	)		165,688			1,037			—			94,810

Interest expense, net		(73,448	)		(25,221	)		(1,100	)		—			(99,769	)
Loss on early retirement of debt, net		(38,430	)		—			—			—			(38,430	)
Subsidiary income (loss)		205,251			—			—			(205,251	)		—
Income (loss) before income taxes		21,458			140,467			(63	)		(205,251	)		(43,389	)
Income tax benefit (provision)		51,922			69,787			(4,940	)		—			116,769
Net income (loss)	$	73,380		$	210,254		$	(5,003	)	$	(205,251	)	$	73,380

The consolidating condensed statements of income for the year ended December 31, 2016 is as follows:

Statements of Income:

	Eldorado Resorts, Inc. (Parent Obligor)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating and Eliminating Entries			Eldorado Resorts, Inc. Consolidated
Revenues:
Gaming and pari-mutuel commissions	$	—		$	599,750		$	265		$	—		$	600,015
Non-gaming		—			300,360			90			—			300,450
Net revenues		—			900,110			355			—			900,465

Operating expenses:
Gaming and pari-mutuel commissions		—			352,220			—			—			352,220
Non-gaming		—			194,586			—			—			194,586
Marketing and promotions		—			40,886			4			—			40,890
General and administrative		—			130,720			—			—			130,720
Corporate		19,560			320			—			—			19,880
Management fee		(19,841	)		19,841			—			—			—
Depreciation and amortization		454			62,995			—			—			63,449
Total operating expenses		173			801,568			4			—			801,745

Loss on sale of asset or disposal of property and equipment		—			(836	)		—			—			(836	)
Transaction expenses		(9,184	)		—			—			—			(9,184	)
Operating (loss) income		(9,357	)		97,706			351			—			88,700

Interest expense, net		(24,562	)		(26,355	)		—			—			(50,917	)
Loss on early retirement of debt, net		(155	)		—			—			—			(155	)
Subsidiary income (loss)		45,372			—			—			(45,372	)		—
Income (loss) before income taxes		11,298			71,351			351			(45,372	)		37,628
Income tax benefit		13,229			(26,207	)		(123	)		—			(13,101	)
Net income (loss)	$	24,527		$	45,144		$	228		$	(45,372	)	$	24,527

The consolidating condensed statement of cash flows for the year ended December 31, 2018 is as follows:

Statement of Cash Flows

	Eldorado Resorts, Inc. (Parent Obligor)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating and Eliminating Entries		Eldorado Resorts, Inc. Consolidated
	(in thousands)
Net cash (used in) provided by operating activities	$	(65,836	)	$	387,576		$	1,540		$	—	$	323,280
INVESTING ACTIVITIES:
Purchase of property and equipment, net		(8,467	)		(136,102	)		(2,846	)		—		(147,415	)
Purchase of restricted investments		—			—			(8,008	)		—		(8,008	)
Proceeds from sale of property and equipment		—			1,002			—			—		1,002
Cash (used in) provided by business combinations		(1,010,175	)		(103,052	)		—			—		(1,113,227	)
Investments in and advances to unconsolidated affiliate		—			(581	)		—			—		(581	)
Net cash used in investing activities		(1,018,642	)		(238,733	)		(10,854	)		—		(1,268,229	)
FINANCING ACTIVITIES:
Proceeds from issuance of long-term debt		600,000			246,000			—			—		846,000
Borrowings under Revolving Credit Facility		315,358			—			—			—		315,358
Payments under Revolving Credit Facility		(70,358	)		—			—			—		(70,358	)
Net proceeds from (payments to) related parties		285,026			(290,312	)		5,286			—		—
Debt issuance costs		(25,758	)		—			—			—		(25,758	)
Taxes paid related to net share settlement of equity awards		(11,708	)		—			—			—		(11,708	)
Proceeds from exercise of stock options		154			—			—			—		154
Purchase of treasury stock		(9,131	)		—			—			—		(9,131	)
Payments on other long-term payables		(92	)		(278	)		(296	)		—		(666	)
Net cash provided by (used in) financing activities		1,083,491			(44,590	)		4,990			—		1,043,891
Increase in cash, cash equivalents and restricted cash		(987	)		104,253			(4,324	)		—		98,942
Cash, cash equivalents and restricted cash, beginning of period		13,831			118,419			15,499			—		147,749
Cash, cash equivalents and restricted cash, end of period	$	12,844		$	222,672		$	11,175		$	—	$	246,691

RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO AMOUNTS REPORTED WITHIN THE CONDENSED CONSOLIDATED BALANCE SHEETS:
Cash and cash equivalents	$	12,127		$	208,697			9,928		$	—	$	230,752
Restricted cash		717			7,920			247			—		8,884
Restricted and escrow cash included in other noncurrent assets		—			6,055			1,000			—		7,055
Total cash, cash equivalents and restricted cash	$	12,844		$	222,672		$	11,175		$	—	$	246,691

The consolidating condensed statement of cash flows for the year ended December 31, 2017 is as follows:

Statement of Cash Flows

	Eldorado Resorts, Inc. (Parent Obligor)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating and Eliminating Entries		Eldorado Resorts, Inc. Consolidated
	(in thousands)
Net cash (used in) provided by operating activities	$	(44,737	)	$	170,553		$	4,070		$	—	$	129,886
INVESTING ACTIVITIES:
Purchase of property and equipment, net		(11,073	)		(70,449	)		(1,639	)		—		(83,161	)
Proceeds from sale of property and equipment		—			135			—			—		135
Net cash (used in) provided by business combinations		(1,355,370	)		37,103			5,216			—		(1,313,051	)
Investments in and advances to unconsolidated affiliate		—			(604	)		—			—		(604	)
Net cash used in investing activities		(1,366,443	)		(33,815	)		3,577			—		(1,396,681	)
FINANCING ACTIVITIES:
Proceeds from issuance of long-term debt		2,325,000			—			—			—		2,325,000
Borrowings under Revolving Credit Facility		207,953			—			—			—		207,953
Payments under long-term debt		(911,875	)		—			—			—		(911,875	)
Payments under Revolving Credit Facility		(236,953	)		—			—			—		(236,953	)
Net proceeds from (payments to) related parties		72,011			(79,634	)		7,623			—		—
Debt premium proceeds		27,500			—			—					27,500
Payments on other long-term payables		(43	)		(318	)		(172	)		—		(533	)
Debt issuance costs		(51,526	)		—			—			—		(51,526	)
Taxes paid related to net share settlement of equity awards		(11,365	)		—			—			—		(11,365	)
Proceeds from exercise of stock options		2,900			—			—			—		2,900
Net cash provided by (used in) financing activities		1,423,602			(79,952	)		7,451			—		1,351,101
Increase in cash, cash equivalents and restricted cash		12,422			56,786			15,098			—		84,306
Cash, cash equivalents and restricted cash, beginning of period		1,409			61,633			401			—		63,443
Cash, cash equivalents and restricted cash, end of period	$	13,831		$	118,419		$	15,499		$	—	$	147,749

RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO AMOUNTS REPORTED WITHIN THE CONDENSED CONSOLIDATED BALANCE SHEETS:
Cash and cash equivalents	$	13,202		$	114,925		$	6,469		$	—	$	134,596
Restricted cash		629			2,495			143			—		3,267
Restricted cash included in other noncurrent assets		—			999			8,887			—		9,886
Total cash, cash equivalents and restricted cash	$	13,831		$	118,419		$	15,499		$	—	$	147,749

The consolidating condensed statement of cash flows for the year ended December 31, 2016 is as follows:

Statement of Cash Flows

	Eldorado Resorts, Inc. (Parent Obligor)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating and Eliminating Entries		Eldorado Resorts, Inc. Consolidated
Net cash (used in) provided by operating activities	$	(16,337	)	$	111,608		$	101		$	—	$	95,372
INVESTING ACTIVITIES:
Purchase of property and equipment, net		133			(43,305	)		(1	)		—		(43,173	)
Proceeds from sale of property and equipment		—			1,560			—			—		1,560
Net cash used in business combinations		—			(194	)		—			—		(194	)
Net cash used in by investing activities		133			(41,939	)		(1	)		—		(41,807	)
FINANCING ACTIVITIES:
Payments under long-term debt		(4,250	)		—			—			—		(4,250	)
Borrowings under Revolving Credit Facility		73,000			—			—			—		73,000
Payments under Revolving Credit Facility		(137,500	)		—			—			—		(137,500	)
Principal payments on capital leases		(4,288	)		—			—			—		(4,288	)
Net proceeds from (payments to) related parties		90,353			(90,486	)		133			—		—
Taxes paid related to net share settlement of equity awards		(744	)		—			—			—		(744	)
Proceeds from exercise of stock options		385			—			—			—		385
Payments on other long-term payables		—			(274	)		—			—		(274	)
Net cash provided by (used in) financing activities		16,956			(90,760	)		133			—		(73,671	)
Increase in cash, cash equivalents and restricted cash		752			(21,091	)		233			—		(20,106	)
Cash, cash equivalents and restricted cash, beginning of period		657			82,724			168			—		83,549
Cash, cash equivalents and restricted cash, end of period	$	1,409		$	61,633		$	401		$	—	$	63,443

Quarterly Data (Unaudited)

12 Months Ended

Dec. 31, 2018

Quarterly Financial Data [Abstract]

Quarterly Data (Unaudited)

Note 21. Quarterly Data (Unaudited)

The following table sets forth certain consolidated quarterly financial information for the years ended December 31, 2018, 2017 and 2016. The quarterly information only includes the operations of Elgin from the Elgin Acquisition date through December 31, 2018, operations of Tropicana from the Tropicana Acquisition date through December 31, 2018 and operations of Isle from the Isle Acquisition Date through December 31, 2018.

	Quarter Ended
	March 31,		June 30,		September 30,		December 31,
	(Dollars in thousands, except per share amounts)
2018:
Net revenues		440,192		456,802		487,253		671,760
Operating expenses		382,659		376,439		396,220		573,696
Operating income		54,194		77,414		91,769		86,726
Net income (loss)	$	20,855	$	36,796	$	37,704	$	(120	)
Basic net income (loss) per common share	$	0.27	$	0.48	$	0.49	$	0.00
Diluted net income (loss) per common share	$	0.27	$	0.47	$	0.48	$	0.00
Weighted average shares outstanding—basic		77,353,730		77,458,584		77,522,664		77,503,732
Weighted average shares outstanding—diluted (1)		78,080,049		78,258,629		78,283,588		77,503,732

(1)	Excluded from “Weighted average shares outstanding-diluted” are 100,091 stock options and 905,420 RSUs for the three months ended December 31, 2018 as the inclusion of these shares would have an anti-dilutive effect.

	Quarter Ended
	March 31,		June 30,			September 30,		December 31,
	(Dollars in thousands, except per share amounts)
2017:
Net revenues		202,393	$	375,626		$	472,878	$	429,901
Operating expenses		186,561		320,480			389,273		416,211
Operating income (loss)		14,028		(30,467	)		81,493		29,756
Net income (loss)	$	945	$	(46,190	)	$	29,687	$	88,938
Basic net income (loss) per common share	$	0.02	$	(0.68	)	$	0.39	$	1.16
Diluted net income (loss) per common share	$	0.02	$	(0.68	)	$	0.38	$	1.14
Weighted average shares outstanding—basic		47,120,751		67,453,095			76,902,070		76,961,015
Weighted average shares outstanding—diluted		48,081,281		67,453,095			77,959,689		77,998,742

(2)	Excluded from ““Weighted average shares outstanding-diluted” are 78,435 stock options and 937,661 RSUs for the three months ended June 30, 2017 as the inclusion of these shares would have an anti-dilutive effect

	Quarter Ended
	March 31,		June 30,		September 30,		December 31,
	(Dollars in thousands, except per share amounts)
2016:
Net revenues		215,583	$	233,493	$	243,049	$	208,340
Operating expenses		196,855		203,016		210,584		191,290
Operating income		18,281		29,585		27,739		13,095
Net income	$	3,379	$	10,737	$	9,450	$	961
Basic net income per common share	$	0.07	$	0.23	$	0.20	$	0.02
Diluted net income per common share	$	0.07	$	0.22	$	0.20	$	0.02
Weighted average shares outstanding—basic		46,933,094		47,071,608		47,193,120		47,105,744
Weighted average shares outstanding—diluted		47,534,761		47,721,075		47,834,644		47,849,554

Schedule II - Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2018

Valuation And Qualifying Accounts [Abstract]

Schedule II - Valuation and Qualifying Accounts

ELDORADO RESORTS, INC.

SCHEDULE II—VALUATION AND QUALIFYING ACCOUNTS

Column A	Column B Balance at Beginning of Period			Column C Acquisitions		Column D Additions(1)		Column E Deductions(2)		Column F Balance at End of Period
Year ended December 31, 2018:
Allowance for doubtful accounts	$	1,220	$		2,394	$	1,407	$	1,347	$	3,674
Year ended December 31, 2017:
Allowance for doubtful accounts	$	1,221	$		461	$	531	$	993	$	1,220
Year ended December 31, 2016:
Allowance for doubtful accounts	$	2,074	$		—	$	161	$	1,014	$	1,221

(1)	Amounts charged to costs and expenses, net of recoveries.

(2)	Uncollectible accounts written off, net of recoveries of $0.1 million and $0.7 million in 2018 and 2017, respectively. There were no recoveries in 2016.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Principles of Consolidation

Use of Estimates

Cash and Cash Equivalents

Restricted Cash and Investment

Marketable Securities

CRDA Investments

Accounts Receivable and Credit Risk

Inventories

Corporate Expense

Preopening and Start-up Expenses

Property and Equipment


Buildings and improvements		10 to 40 years
Land improvements		10 to 20 years
Furniture, fixtures and equipment		3 to 20 years
Riverboats		5 to 25 years

Investments in and Advances to Unconsolidated Affiliates

Goodwill and Other Intangible Assets

Non-Operating Real Properties

Financing Obligation with GLPI

Self-Insurance Reserves

Treasury Shares

Outstanding Chip Liability

Player Loyalty Program

Complimentaries

Casino Revenue and Pari-mutuel Commissions

Non-gaming Revenue

	Year Ended December 31, 2018
	West		Midwest		South		East		Central		Corporate and Other		Total
Casino	$	230,571	$	345,499	$	365,365	$	476,993	$	116,526	$	—	$	1,534,954
Pari-mutuel commissions		—		—		10,383		8,054		—		—		18,437
Food and beverage		109,038		27,364		52,924		43,167		14,839		—		247,332
Hotel		108,327		16,365		24,792		26,694		7,620		—		183,798
Other		35,596		7,780		7,717		16,364		3,500		529		71,486
Net revenues	$	483,532	$	397,008	$	461,181	$	571,272	$	142,485	$	529	$	2,056,007

	Year Ended December 31, 2017
	West		Midwest		South		East		Central		Corporate and Other		Total
Casino	$	186,779	$	231,366	$	262,937	$	403,932	$	—	$	—	$	1,085,014
Pari-mutuel commissions		—		—		5,743		8,270		—		—		14,013
Food and beverage		102,244		20,452		42,114		33,436		—		—		198,246
Hotel		91,811		12,177		21,459		7,891		—		—		133,338
Other		29,485		4,884		6,006		9,306		—		506		50,187
Net revenues	$	410,319	$	268,879	$	338,259	$	462,835	$	—	$	506	$	1,480,798

	Year Ended December 31, 2016
	West		Midwest		South		East		Central		Corporate and Other		Total
Casino	$	121,623	$	—	$	92,108	$	377,740	$	—	$	—	$	591,471
Pari-mutuel commissions		—		—		—		8,544		—		—		8,544
Food and beverage		96,708		—		26,133		32,376		—		—		155,217
Hotel		79,880		—		12,246		8,336		—		—		100,462
Other		29,330		—		3,070		12,371		—		—		44,771
Net revenues	$	327,541	$	—	$	133,557	$	439,367	$	—	$	—	$	900,465

Advertising

Income Taxes

Stock-Based Compensation

Earnings per Share

Reclassifications

Certain reclassifications of prior period presentations have been made to conform to the current period presentation.

Recently Issued Accounting Pronouncements

Pronouncements Implemented in 2018

Pronouncements to Be Implemented in Future Periods

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Property, Plant and Equipment, Estimated Useful Life


Buildings and improvements		10 to 40 years
Land improvements		10 to 20 years
Furniture, fixtures and equipment		3 to 20 years
Riverboats		5 to 25 years

Adoption of ASC Topic 606

Summary of Net Revenues Disaggregated Type of Revenue and Reportable Segment

	Year Ended December 31, 2018
	West		Midwest		South		East		Central		Corporate and Other		Total
Casino	$	230,571	$	345,499	$	365,365	$	476,993	$	116,526	$	—	$	1,534,954
Pari-mutuel commissions		—		—		10,383		8,054		—		—		18,437
Food and beverage		109,038		27,364		52,924		43,167		14,839		—		247,332
Hotel		108,327		16,365		24,792		26,694		7,620		—		183,798
Other		35,596		7,780		7,717		16,364		3,500		529		71,486
Net revenues	$	483,532	$	397,008	$	461,181	$	571,272	$	142,485	$	529	$	2,056,007

	Year Ended December 31, 2017
	West		Midwest		South		East		Central		Corporate and Other		Total
Casino	$	186,779	$	231,366	$	262,937	$	403,932	$	—	$	—	$	1,085,014
Pari-mutuel commissions		—		—		5,743		8,270		—		—		14,013
Food and beverage		102,244		20,452		42,114		33,436		—		—		198,246
Hotel		91,811		12,177		21,459		7,891		—		—		133,338
Other		29,485		4,884		6,006		9,306		—		506		50,187
Net revenues	$	410,319	$	268,879	$	338,259	$	462,835	$	—	$	506	$	1,480,798

	Year Ended December 31, 2016
	West		Midwest		South		East		Central		Corporate and Other		Total
Casino	$	121,623	$	—	$	92,108	$	377,740	$	—	$	—	$	591,471
Pari-mutuel commissions		—		—		—		8,544		—		—		8,544
Food and beverage		96,708		—		26,133		32,376		—		—		155,217
Hotel		79,880		—		12,246		8,336		—		—		100,462
Other		29,330		—		3,070		12,371		—		—		44,771
Net revenues	$	327,541	$	—	$	133,557	$	439,367	$	—	$	—	$	900,465

Acquisitions, Purchase Price Accounting and Pro forma Information (Tables)

12 Months Ended

Dec. 31, 2018

Tropicana Entertainment Inc

Schedule of Purchase Consideration Calculation

The estimated purchase consideration in the acquisition was determined with reference to its acquisition date fair value.

Purchase consideration calculation (dollars in thousands)
Cash consideration paid	$	640,000
Lumière Loan		246,000
Cash paid to retire Tropicana's long-term debt		35,000
ERI portion of taxes due		6,333
Purchase consideration	$	927,333

Summary of Purchase Consideration to Identifiable Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary allocation of the purchase consideration to the identifiable assets acquired and liabilities assumed of Tropicana, with the excess recorded as goodwill as of December 31, 2018 (dollars in thousands):

Current and other assets	$	183,292
Property and equipment		432,758
Property subject to the financing obligation		957,300
Goodwill		220,482
Intangible assets (i)		247,976
Other noncurrent assets		38,276
Total assets		2,080,084
Current liabilities		(168,856	)
Financing obligation to GLPI		(957,300	)
Noncurrent liabilities		(26,595	)
Total liabilities		(1,152,751	)
Net assets acquired	$	927,333

(i)	Intangible assets consist of gaming licenses valued at $124.9 million, trade names valued at $67.1 million and player loyalty programs valued at $55.9 million.

Schedule of Unaudited Pro Forma Information

	Year Ended			Year Ended
	December 31, 2018		December 31, 2017
Net operating revenues	$	2,735,760	$		2,361,372
Net income		92,556			16,651

Elgin Acquisition

Schedule of Purchase Consideration Calculation

Purchase consideration calculation (dollars in thousands)
Cash consideration paid	$	327,500
Working capital and other adjustments		1,304
Purchase consideration	$	328,804

Summary of Purchase Consideration to Identifiable Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary allocation of the purchase consideration to the identifiable assets acquired and liabilities assumed of Elgin, with the excess recorded as goodwill as of December 31, 2018 (dollars in thousands):

Current and other	$	25,349
Property and equipment		60,792
Goodwill		59,774
Intangible assets (i)		205,296
Other noncurrent assets		915
Total assets		352,126
Current liabilities		(21,572	)
Noncurrent liabilities		(1,750	)
Total liabilities		(23,322	)
Net assets acquired	$	328,804

(i)	Intangible assets consist of gaming license valued at $163.9 million, trade names valued at $12.6 million and player loyalty programs valued at $28.8 million.

Schedule of Unaudited Pro Forma Information

	Year Ended			Year Ended
	December 31, 2018		December 31, 2017
Net operating revenues	$	2,152,948	$		1,644,907
Net income		105,689			79,158

Isle of Capri

Schedule of Purchase Consideration Calculation

Purchase consideration calculation (dollars in thousands, except shares and stock price)	Shares		Per share
Cash paid for outstanding Isle common stock (1)					$	552,050
Shares of ERI common stock issued for Isle common stock (2)		28,468,182	$	19.12		544,312
Cash paid by ERI to retire Isle's long-term debt (3)						828,000
Shares of ERI common stock for Isle equity awards (4)						10,383
Purchase consideration					$	1,934,745

(1)

(2)

(3)	In addition to the cash paid to retire the principal amounts outstanding of Isle’s long-term debt, ERI paid $26.6 million in premiums and interest.

(4)

Summary of Purchase Consideration to Identifiable Assets Acquired and Liabilities Assumed

Current and other assets, net	$	135,925
Property and equipment		908,816
Goodwill		709,087
Intangible assets (i)		517,470
Other noncurrent assets		15,082
Total assets		2,286,380
Current liabilities		(144,306	)
Deferred income taxes (ii)		(189,952	)
Other noncurrent liabilities		(17,377	)
Total liabilities		(351,635	)
Net assets acquired	$	1,934,745

(i)	Intangible assets consist of gaming licenses valued at $395.1 million, trade names valued at $108.3 million, and player loyalty programs valued at $14.1 million.

(ii)	Deferred tax liabilities were derived based on fair value adjustments for property and equipment and identified intangibles.

Schedule of Unaudited Pro Forma Information

	Year Ended
	December 31, 2017
Net operating revenues	$	1,810,815
Net income		173,027

Accounts Receivable (Tables)

12 Months Ended

Dec. 31, 2018

Receivables [Abstract]

Schedule of Accounts Receivable

Components of accounts receivable, net are as follows (in thousands):

	December 31,
	2018			2017
Accounts receivable	$	63,843		$	47,017
Allowance for doubtful accounts		(3,674	)		(1,220	)
Total	$	60,169		$	45,797

Assets Held for Sale (Tables)

12 Months Ended

Dec. 31, 2018

Discontinued Operations And Disposal Groups [Abstract]

Schedule of Assets and Liabilities Held for Sale, Accounted Carrying Value Lower than Fair Value and Information of Net Operating Revenues and Net Income

The assets and liabilities held for sale, accounted for at carrying value as it was lower than fair value, were as follows (in thousands):

	December 31, 2018
	Nemacolin		Presque Isle Downs		Total
Assets:
Accounts receivable, net	$	272	$	2,208	$	2,480
Inventories		79		1,607		1,686
Prepaid expenses and other		370		773		1,143
Property and equipment, net		1,784		70,134		71,918
Goodwill		—		3,122		3,122
Other intangibles, net		—		75,422		75,422
Assets held for sale	$	2,505	$	153,266	$	155,771

Liabilities:
Accounts payable	$	147	$	683	$	830
Accrued payroll and related		838		596		1,434
Accrued property and other taxes		552		71		623
Accrued other liabilities		1,628		3,659		5,287
Other long-term liabilities		105		—		105
Long term obligation		2,412		—		2,412
Liabilities related to assets held for sale	$	5,682	$	5,009	$	10,691

The following information presents the net operating revenues and net income (in thousands):

	Year Ended December 31, 2018
	Nemacolin			Presque Isle Downs
Net operating revenues	$	33,461		$	139,993
Net (loss) income		(3,571	)		13,935

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2018

Property Plant And Equipment [Abstract]

Summary of Property and Equipment

Property and equipment consisted of the following (in thousands):

	December 31,
	2018			2017
Non-Master Lease:
Land and improvements	$	316,456		$	284,374
Buildings and other leasehold improvements		1,472,516			1,187,642
Riverboats		81,762			61,091
Furniture, fixtures and equipment		586,404			420,399
Furniture, fixtures and equipment held under capital leases (Note 17)		193			870
Construction in progress		41,346			14,451
		2,498,677			1,968,827
Less—Accumulated depreciation and amortization		(569,073	)		(466,010	)
		1,929,604			1,502,817
Master Lease:
Land and improvements		377,150			—
Buildings and other leasehold improvements		578,250			—
Riverboats		1,900			—
		957,300			—
Less—Accumulated depreciation and amortization		(4,298	)		—
		953,002			—
Property and equipment, net	$	2,882,606		$	1,502,817

Intangible Assets, Net and Other Long Term Assets (Tables)

12 Months Ended

Dec. 31, 2018

Other And Intangible Assets Net Disclosure [Abstract]

Schedule of Intangible Assets, Net

Intangible assets, net, include the following amounts (in thousands):

	December 31,
	2018			2017			Useful Life
Goodwill	$	1,008,316		$	747,106		Indefinite

Gaming licenses	$	1,090,682		$	877,174		Indefinite
Trade names		187,929			108,250		Indefinite
Trade names		5,100			6,700		3.5 years
Player loyalty programs		105,005			21,820		3 - 4 years
Subtotal		1,388,716			1,013,944
Accumulated amortization trade names		(5,100	)		(6,290	)
Accumulated amortization player loyalty programs		(21,610	)		(10,838	)
Total gaming licenses and other intangible assets, net	$	1,362,006		$	996,816

Schedule of Change in Goodwill

The following table presents changes to goodwill for the years ended December 31, 2018 and 2017 (in thousands):



	Goodwill			Accumulated Impairment			Goodwill, net
January 1, 2017	$	66,826		$	—		$	66,826
Acquisitions		715,196			—			715,196
Impairments		—			(34,916	)		(34,916	)
December 31, 2017		782,022			(34,916	)		747,106
Acquisitions		280,256			—			280,256
Finalization of purchase price accounting		(6,109	)		—			(6,109	)
Assets held for sale		(3,122	)		—			(3,122	)
Impairments		—			(9,815	)		(9,815	)
December 31, 2018	$	1,053,047		$	(44,731	)	$	1,008,316

Schedule of Other Assets, Net

Other assets, net, include the following amounts (in thousands):

		December 31,
		2018			2017
CRDA bonds and deposits			6,694			—
Unamortized debt issuance costs - Revolving Credit Facility			9,533			8,616
Non-operating real property			17,880			18,069
Long-term prepaid rent			20,198			—
Restricted cash and investments			15,064			9,886
Other			15,969			12,130
Total other assets, net	$		85,338	$		48,701

Accrued Other Liabilities (Tables)

12 Months Ended

Dec. 31, 2018

Payables And Accruals [Abstract]

Schedule of Accrued Other Liabilities

Accrued other liabilities consisted of the following (in thousands):

	December 31,
	2018		2017
Accrued general liability claims	$	16,465	$	13,816
Unclaimed chips		8,930		4,743
Accrued purses and track related liabilities		1,899		3,256
Jackpot progressives and other accrued gaming liabilities		26,383		18,724
Player loyalty program point liability		17,639		11,753
Accrued Illinois donation liability		8,912		—
Accrued rent		4,324		2,074
Other		18,430		11,672
Total accrued other liabilities	$	102,982	$	66,038

Long-Term Financing Obligation (Tables)

12 Months Ended

Dec. 31, 2018

Leases [Abstract]

Schedule of Future Minimum Payments Related to Master Lease Financing Obligation

The future minimum payments related to the Master Lease financing obligation with GLPI at December 31, 2018 are as follows (in thousands):

2019	$	87,943
2020		89,168
2021		90,417
2022		91,691
2023		92,990
Thereafter		3,506,673
Total future payments		3,958,882
Less: Amounts representing interest at 10.2%		(3,371,847	)
Plus: Residual values		372,800
Financing obligation to GLPI	$	959,835

Long-Term Debt and Other Long-Term Liabilities (Tables)

12 Months Ended

Dec. 31, 2018

Summary of Long-term Debt

Long-term debt consisted of the following (in thousands):

	December 31,			December 31,
	2018			2017
Term Loan	$	956,750		$	956,750
Less: Unamortized discount and debt issuance costs		(18,426	)		(18,748	)
Net		938,324			938,002
6% Senior Notes due 2026		600,000			—
Less: Unamortized debt issuance costs		(19,630	)		—
Net		580,370			—
6% Senior Notes due 2025		875,000			875,000
Plus: Unamortized debt premium		23,491			26,605
Less: Unamortized debt issuance costs		(18,405	)		(20,716	)
Net		880,086			880,889
7% Senior Notes due 2023		375,000			375,000
Less: Unamortized discount and debt issuance costs		(6,075	)		(7,146	)
Net		368,925			367,854
Revolving Credit Facility		245,000			—
Lumière Loan		246,000			—
Capital leases		590			917
Long-term notes payable		2,440			2,531
Less: Current portion		(462	)		(615	)
Total long-term debt	$	3,261,273		$	2,189,578

Schedule of Maturities of Principal Amount of Long-term Debt

Maturities of the principal amount of the Company’s long-term debt as of December 31, 2018 are as follows:

Years ending December 31,	(In thousands)
2019	$	462
2020		246,235
2021		167
2022		173
2023		620,138
Thereafter		2,433,605
	$	3,300,780

7% Senior Notes due 2023

Schedule of Redemption Prices of Notes

Year	Percentage
2018		105.250	%
2019		103.500	%
2020		101.750	%
2021 and thereafter		100.000	%

6% Senior Notes due 2025

Schedule of Redemption Prices of Notes

Year	Percentage
2020		104.500	%
2021		103.000	%
2022		101.500	%
2023 and thereafter		100.000	%

6% Senior Notes due 2026

Schedule of Redemption Prices of Notes

Year	Percentage
2021		104.500	%
2022		103.000	%
2023		101.500	%
2024 and thereafter		100.000	%

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The components of the Company’s provision (benefit) for income taxes for the years ended December 31, 2018, 2017 and 2016 are presented below (amounts in thousands).

	2018			2017			2016
Current:
Federal	$	3,813		$	(3,959	)	$	(12	)
State		2,445			380			1,173
Local		304			(627	)		739
Total current		6,562			(4,206	)		1,900
Deferred:
Federal		16,561			(104,400	)		12,748
State		17,574			(186	)		(1,458	)
Local		(310	)		(7,977	)		(89	)
Total deferred		33,825			(112,563	)		11,201
Income tax (benefit) expense	$	40,387		$	(116,769	)	$	13,101

Schedule of Effective Income Tax Rate Reconciliation

The following is a reconciliation of the statutory federal income tax rate to the Company’s effective tax rate for the years ended December 31, 2018, 2017 and 2016:

	2018				2017				2016
Federal statutory rate		21.0		%		35.0		%		35.0		%
State and local taxes		3.7		%		2.8		%		4.3		%
State tax rate adjustment		8.9		%		5.7		%		—		%
Stock compensation		(1.8	)	%		0.8		%		(0.9	)	%
Goodwill impairment		—		%		(27.1	)	%		—		%
Transaction expenses		—		%		(10.7	)	%		—		%
Tax Cuts and Jobs Act		(1.6	)	%		264.0		%		—		%
Valuation allowance		(0.3	)	%		(2.3	)	%		(3.6	)	%
Tax credits		(1.1	)	%		3.5		%		(1.8	)	%
Other		1.0		%		(2.6	)	%		1.8		%
Effective income tax rate		29.8		%		269.1		%		34.8		%

Schedule of Deferred Tax Assets and Liabilities

	2018			2017
Deferred tax assets:
Loss carryforwards	$	31,880		$	58,245
Accrued expenses		19,306			10,806
Credit carryforwards		8,986			19,838
Financing obligation to GLPI		126,368			—
Other		9,623			11,336
		196,163			100,225
Deferred tax liabilities:
Identified intangibles		(214,756	)		(203,015	)
Fixed assets		(149,491	)		(28,375	)
Other		(6,560	)		(5,531	)
		(370,807	)		(236,921	)
Valuation allowance		(25,366	)		(26,271	)
Net deferred tax liabilities	$	(200,010	)	$	(162,967	)

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2018

Employee Benefits And Share Based Compensation [Abstract]

Net Periodic Benefit Costs

Service costs	$	808
Interest costs		150
Expected return on plan assets		(178	)
Amortization of net (gain) loss		—
Net periodic benefit cost	$	780

Projected Benefit Obligation, Change in Plan Assets

Change in benefit obligations:
Projected benefit obligation beginning of period	$	12,024
Service and interest cost during period		958
Benefit payments during period		—
Expenses during period		(29	)
Actuarial gain		(303	)
Projected benefit obligation end of period	$	12,650
Change in plan assets:
Fair value of plan assets at beginning of period	$	14,283
Return on plan assets during period		76
Benefit payments during period		—
Expenses during period		(29	)
Employer contributions		—
Fair value of plan assets at end of period	$	14,330
Funded status at end of period	$	1,680

Future Estimated Expected Benefit Payments

Future estimated expected benefit payments for 2019 through 2028 are as follows (in thousands):

		Expected Benefit Payments
2019	$		125
2020			172
2021			236
2022			346
2023			446
2024 through 2028			3,879
	$		5,204

Stock-Based Compensation and Stockholder's Equity (Tables)

12 Months Ended

Dec. 31, 2018

Share Based Compensation [Abstract]

Summary of RSU Activity Including Performance Awards and Converted Isle Awards

A summary of the RSU activity, including performance awards and converted Isle awards, for the years ended December 31, 2016, 2017 and 2018 is as follows:

	Units				Weighted- Average Grant Date Fair Value		Weighted-Average Remaining Contractual Life			Aggregate Fair Value
					(in millions)					(in millions)
Unvested outstanding as of January 1, 2016		827,383		$		4.09		2.12	$		3.40
Granted (1)		410,694				10.81
Vested		(255,707	)			5.83
Unvested outstanding as of December 31, 2016		982,370		$		6.45		1.41			6.33
Granted (1)		600,206				20.91
Exchanged		860,557				18.94
Forfeited		(11,870	)			15.74
Vested		(851,764	)			18.37
Unvested outstanding as of December 31, 2017		1,579,499		$		12.25		0.92			19.35
Granted (1)		574,753				33.91
Vested		(860,995	)			9.79
Canceled		(9,885	)			19.13
Unvested outstanding as of December 31, 2018		1,283,372		$		23.93		1.41	$		30.71

(1)	Included are 32,284, 46,282, and 34,920 RSUs granted to non-employee members of the BOD during the year ended December 31, 2018, 2017 and 2016, respectively.

Schedule of Share-based Compensation, Stock Options Activity

A summary of the ERI Stock Option activity for the years ended December 31, 2016, 2017 and 2018:

				Weighted-
				Average
				Exercise
	Options			Price
Outstanding as of January 1, 2016 (1)		312,200		$	6.94
Expired		(10,000	)		11.30
Exercised		(132,900	)		2.89
Outstanding as of December 31, 2016 (1)		169,300			9.94
Exchanged		1,351,168			10.12
Expired		(62,871	)		4.63
Exercised		(1,185,745	)		10.45
Outstanding as of December 31, 2017 (1)		271,852			9.63
Expired		(15,776	)		10.89
Exercised		(120,120	)		9.09
Outstanding as of December 31, 2018 (1)		135,956		$	9.96

(1)	119,505 and 228,143 options were exercisable as of December 31, 2018 and 2017, respectively. All outstanding options as of December 31, 2016 and January 1, 2016 were exercisable.

Summary of Restricted Stock Awards Activity

A summary of the ERI Restricted Stock Awards activity for the years ended December 31, 2016, 2017 and 2018 is as follows:

				Weighted-
				Average
				Grant Date
	Restricted Stock			Fair Value
Outstanding as of December 31, 2016		—		$	—
Exchanged (1)		180,374			19.23
Forfeited		(1,602	)		19.13
Vested		(167,963	)		19.24
Outstanding as of December 31, 2017		10,809			19.13
Vested		(10,809	)		19.13
Outstanding as of December 31, 2018		—		$	—

(1)	Represents exchanged Isle Restricted Stock Awards as a result of the Isle Acquisition.

Earnings per Share (Tables)

12 Months Ended

Dec. 31, 2018

Earnings Per Share Basic And Diluted [Abstract]

Schedule of Reconciliation of the Numerators and Denominators of the Basic and Diluted Net Income Per Share Computations

	2018		2017		2016
Net income available to common stockholders	$	95,235	$	73,380	$	24,527

Shares outstanding:
Weighted average shares outstanding – basic		77,458,902		67,133,531		47,033,311
Effect of dilutive securities:
Stock options		119,418		98,294		96,515
RSUs		703,781		870,989		571,736
Weighted average shares outstanding – diluted		78,282,101		68,102,814		47,701,562

Net income per common share attributable to common stockholders – basic:	$	1.23	$	1.09	$	0.52
Net income per common share attributable to common stockholders – diluted:	$	1.22	$	1.08	$	0.51

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2018

Fair Value Disclosures [Abstract]

Schedule of Assets Measured at Fair Value on a Recurring Basis

	December 31, 2018
Assets:	Level 1		Level 2		Level 3			Total
Restricted cash and investments	$	19,481	$	4,467	$		16,008		$	39,956
Marketable securities		9,515		7,442			—			16,957

	December 31, 2017
Assets:	Level 1		Level 2			Level 3		Total
Restricted cash and investments	$	9,055	$	4,098	$		—		$	13,153
Marketable securities		7,906		9,725			—			17,631

Schedule of Change in Restricted Investments Valued Using Level 3 Inputs

The change in restricted investments valued using Level 3 inputs for the year ended December 31, 2018 is as follows:

		Level 3 Investment
Value of investment received	$		18,595
Unrealized loss in restricted investments			(2,587	)
Fair value at December 31, 2018	$		16,008

Schedule of Estimated Fair Value of Financial Instruments

The estimated fair values of the Company’s financial instruments are as follows (amounts in thousands):

	December 31, 2018				December 31, 2017
	Carrying		Fair		Carrying		Fair
	Amount		Value		Amount		Value
Financial liabilities:
7% Senior Notes due 2023	$	368,925	$	385,312	$	367,854	$	400,800
6% Senior Notes due 2025		880,086		840,000		880,889		914,375
6% Senior Notes due 2026		580,370		567,000		—		—
Term Loan		938,324		916,088		938,002		956,750
Revolving Credit Facility		245,000		245,000		—		—
Lumière Loan		246,000		246,000		—		—
Other long-term debt		2,440		2,440		2,531		2,531
Capital leases		590		590		917		917

Commitment and Contingencies (Tables)

12 Months Ended

Dec. 31, 2018

Commitments And Contingencies Disclosure [Abstract]

Schedule of Future Minimum Rental Payments for Operating Leases

The Company leases land and certain equipment, including some of our slot machines, timing and photo finish equipment, videotape and closed-circuit television equipment, and certain pari‑mutuel equipment, under operating leases. Future minimum payments under non‑cancellable operating leases with initial terms of one year or more consisted of the following at December 31, 2018 (in thousands):

	Leases
2019	$	23,250
2020		20,172
2021		18,605
2022		17,467
2023		17,362
Thereafter		178,247
	$	275,103

Segment Information (Tables)

12 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

Summary of Reportable Segment

The following table summarizes our current segments and dates at which each property was aggregated into the segment:

Segment	Property	Date Acquired	State
West	Eldorado Reno	(a)	Nevada
	Silver Legacy	(a)	Nevada
	Circus Reno	(a)	Nevada
	MontBleu	October 1, 2018	Nevada
	Laughlin	October 1, 2018	Nevada
	Isle Black Hawk	May 1, 2017	Colorado
	Lady Luck Black Hawk	May 1, 2017	Colorado

Midwest	Waterloo	May 1, 2017	Iowa
	Bettendorf	May 1, 2017	Iowa
	Boonville	May 1, 2017	Missouri
	Cape Girardeau	May 1, 2017	Missouri
	Caruthersville	May 1, 2017	Missouri
	Kansas City	May 1, 2017	Missouri

South	Pompano	May 1, 2017	Florida
	Eldorado Shreveport	(a)	Louisiana
	Lake Charles	May 1, 2017	Louisiana
	Baton Rouge	October 1, 2018	Louisiana
	Lula	May 1, 2017	Mississippi
	Vicksburg	May 1, 2017	Mississippi
	Greenville	October 1, 2018	Mississippi

East	Presque Isle Downs	(a)	Pennsylvania
	Nemacolin	May 1, 2017	Pennsylvania
	Scioto Downs	(a)	Ohio
	Mountaineer	(a)	West Virginia
	Trop AC	October 1, 2018	New Jersey

Central	Elgin	August 7, 2018	Illinois
	Lumière	October 1, 2018	Missouri
	Evansville	October 1, 2018	Indiana

(a)	Property was aggregated into segment prior to January 1, 2016.

Schedule of Capital Expenditures, Net for Reportable Segments

	For the Year Ended December 31,
	2018		2017		2016
	(in thousands)
Capital Expenditures, Net
West	$	75,297	$	44,952	$	22,812
Midwest		18,889		9,115		—
South		18,149		7,672		5,842
East		19,334		9,794		14,284
Central		3,868		—		—
Corporate		11,878		11,628		235
Total	$	147,415	$	83,161	$	43,173

Schedule of Operating Data for Reportable Segments

	Year ended
	Ended December 31,
	2018			2017			2016
	(in thousands)
Revenues and expenses
West:
Net operating revenues	$	483,532		$	410,319		$	327,541
Depreciation and amortization		40,131			26,950			20,221
Operating income		84,548			66,108			41,451
Midwest:
Net operating revenues		397,008			268,879			—
Depreciation and amortization		33,083			20,997			—
Operating income		105,809			62,071			—
South:
Net operating revenues		461,181			338,259			133,557
Depreciation and amortization		37,357			25,307			7,861
Operating income		64,851			3,680			23,378
East:
Net operating revenues		571,272			462,835			439,367
Depreciation and amortization		27,913			30,517			34,887
Operating income		97,963			68,101			53,361
Central:
Net operating revenues		142,485			—			—
Depreciation and amortization		13,583			—			—
Operating income		24,240			—			—
Corporate:
Net operating revenues		529			506			—
Depreciation and amortization		5,362			2,120			480
Operating loss		(67,308	)		(105,150	)		(29,490	)
Total Reportable Segments
Net operating revenues	$	2,056,007		$	1,480,798		$	900,465
Depreciation and amortization		157,429			105,891			63,449
Operating income	$	310,103		$	94,810		$	88,700
Reconciliations to consolidated net income:
Operating income	$	310,103		$	94,810		$	88,700
Unallocated income and expenses:
Interest expense, net		(171,732	)		(99,769	)		(50,917	)
Loss on early retirement of debt, net		(162	)		(38,430	)		(155	)
Unrealized loss on restricted investment		(2,587	)		—			—
(Provision) benefit for income taxes		(40,387	)		116,769			(13,101	)
Net income	$	95,235		$	73,380		$	24,527

Schedule of Balance Sheet Information for Reportable Segments

		West		Midwest		South		East		Central		Corporate, Other & Eliminations			Total
Balance sheet as of December 31, 2018	(in thousands)
Total assets		$	1,710,375	$	1,245,521	$	1,068,258	$	2,166,730	$	1,457,961	$	(1,737,383	)	$	5,911,462

Balance sheet as of December 31, 2017
Total assets		$	1,278,062	$	1,188,758	$	804,318	$	1,185,806	$	—	$	(910,472	)	$	3,546,472

Schedule of Goodwill by Reportable Segment


			Balance at January 1, 2018			Acquisitions			Impairments				Finalization of Isle Purchase Price Accounting				Assets Held for Sale				Balance at December 31, 2018
	(in thousands)
Goodwill by reportable segment:
West		$		152,775	$		68,100	$		—				(14	)			—		$		220,861
Midwest				327,088			—			—				(4,343	)			—				322,745
South				200,417			24,300			(9,815	)			(1,752	)			—				213,150
East				66,826			113,782			—				—				(3,122	)			177,486
Central				—			74,074			—				—				—				74,074
Total Goodwill		$		747,106	$		280,256	$		(9,815	)	$		(6,109	)	$		(3,122	)	$		1,008,316


			Balance at January 1, 2017			Acquisitions			Impairments				Finalization of Isle Purchase Price Accounting				Assets Held for Sale				Balance at December 31, 2017
	(in thousands)
Goodwill by reportable segment:
West		$		—	$		152,775	$		—				—				—		$		152,775
Midwest				—			327,088			—				—				—				327,088
South				—			235,333			(34,916	)			—				—				200,417
East				66,826			—			—				—				—				66,826
Central				—			—			—				—				—				—
		$		66,826	$		715,196	$		(34,916	)	$		—		$		—		$		747,106

Consolidating Condensed Financial Information (Tables)

12 Months Ended

Dec. 31, 2018

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Consolidating Condensed Balance Sheet

The consolidating condensed balance sheet as of December 31, 2018 is as follows:

Balance Sheet	Eldorado Resorts, Inc. (Parent Obligor)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating and Eliminating Entries			Eldorado Resorts, Inc. Consolidated
	(in thousands)
Current assets	$	48,268	$	497,309	$	27,619	$	—		$	573,196
Intercompany receivables		—		11,885		23,988		(35,873	)		—
Investments in subsidiaries		3,648,961		—		—		(3,648,961	)		—
Property and equipment, net		18,555		2,859,271		4,780		—			2,882,606
Other assets		35,072		2,425,699		26,674		(31,785	)		2,455,660
Total assets	$	3,750,856	$	5,794,164	$	83,061	$	(3,716,619	)	$	5,911,462

Current liabilities	$	48,579	$	328,319	$	25,279	$	—		$	402,177
Intercompany payables		10,873		—		25,000		(35,873	)		—
Long-term financing obligation to GLPI		—		959,835		—		—			959,835
Long-term debt, less current maturities		2,640,046		621,193		34		—			3,261,273
Deferred income tax liabilities		—		231,795		—		(31,785	)		200,010
Other accrued liabilities		22,206		36,808		—		—			59,014
Stockholders’ equity		1,029,152		3,616,214		32,748		(3,648,961	)		1,029,153
Total liabilities and stockholders’ equity	$	3,750,856	$	5,794,164	$	83,061	$	(3,716,619	)	$	5,911,462

The consolidating condensed balance sheet as of December 31, 2017 is as follows:

Balance Sheet	Eldorado Resorts, Inc. (Parent Obligor)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating and Eliminating Entries			Eldorado Resorts, Inc. Consolidated
	(in thousands)
Current assets	$	27,572	$	201,321	$	22,139	$	—		$	251,032
Intercompany receivables		274,148		—		34,492		(308,640	)		—
Investments in subsidiaries		2,437,287		—		—		(2,437,287	)		—
Property and equipment, net		12,042		1,483,473		7,302		—			1,502,817
Other assets		37,458		1,764,291		27,283		(36,409	)		1,792,623
Total assets	$	2,788,507	$	3,449,085	$	91,216	$	(2,782,336	)	$	3,546,472

Current liabilities	$	28,677	$	169,348	$	25,726	$	—		$	223,751
Intercompany payables		—		283,640		25,000		(308,640	)		—
Long-term debt, less current maturities		1,814,185		375,000		393		—			2,189,578
Deferred income tax liabilities		—		199,376		—		(36,409	)		162,967
Other accrued liabilities		4,127		19,624		4,828		—			28,579
Stockholders’ equity		941,518		2,402,097		35,269		(2,437,287	)		941,597
Total liabilities and stockholders’ equity	$	2,788,507	$	3,449,085	$	91,216	$	(2,782,336	)	$	3,546,472

Consolidating Condensed Statements of Income

The consolidating condensed statements of income for the year ended December 31, 2018 is as follows:

Statements of Income:

	Eldorado Resorts, Inc. (Parent Obligor)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating and Eliminating Entries			Eldorado Resorts, Inc. Consolidated
	(in thousands)
Revenues:
Gaming and pari-mutuel commissions	$	—		$	1,522,572		$	30,819		$	—		$	1,553,391
Non-gaming		11			492,679			9,926			—			502,616
Net revenues		11			2,015,251			40,745			—			2,056,007

Operating expenses:
Gaming and pari-mutuel commissions		—			728,709			20,580			—			749,289
Non-gaming		—			303,706			2,597			—			306,303
Marketing and promotions		—			104,402			1,759			—			106,161
General and administrative		—			342,185			7,413			—			349,598
Corporate		42,466			2,405			1,761			—			46,632
Impairment charges		—			9,815			3,787			—			13,602
Management fee		(25,340	)		25,340			—			—			—
Depreciation and amortization		3,655			153,396			378			—			157,429
Total operating expenses		20,781			1,669,958			38,275			—			1,729,014

Loss on sale of asset or disposal of property and equipment		—			(828	)		(7	)		—			(835	)
Proceeds from terminated sale		5,000			—			—			—			5,000
Transaction expenses		(11,369	)		(9,473	)		—			—			(20,842	)
Equity in loss of unconsolidated affiliate		—			(213	)		—			—			(213	)
Operating (loss) income		(27,139	)		334,779			2,463			—			310,103

Interest expense, net		(115,745	)		(54,226	)		(1,761	)		—			(171,732	)
Loss on early retirement of debt, net		(162	)		—			—			—			(162	)
Unrealized loss		(2,587	)		—									(2,587	)
Subsidiary income (loss)		201,353			—			—			(201,353	)		—
Income (loss) before income taxes		55,720			280,553			702			(201,353	)		135,622
Income tax benefit (provision)		39,515			(80,474	)		572			—			(40,387	)
Net income (loss)	$	95,235		$	200,079		$	1,274		$	(201,353	)	$	95,235

The consolidating condensed statements of income for the year ended December 31, 2017 is as follows:

Statements of Income:

	Eldorado Resorts, Inc. (Parent Obligor)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating and Eliminating Entries			Eldorado Resorts, Inc. Consolidated
	(in thousands)
Revenues:
Gaming and pari-mutuel commissions	$	—		$	1,076,957		$	22,070		$	—		$	1,099,027
Non-gaming		—			374,246			7,525			—			381,771
Net revenues		—			1,451,203			29,595			—			1,480,798

Operating expenses:
Gaming and pari-mutuel commissions		—			546,207			14,882			—			561,089
Non-gaming		—			250,160			2,419			—			252,579
Marketing and promotions		—			80,893			2,281			—			83,174
General and administrative		—			235,905			5,132			—			241,037
Corporate		31,620			(4,318	)		3,437			—			30,739
Impairment charges		—			38,016			—			—			38,016
Management fee		(31,620	)		31,620			—			—			—
Depreciation and amortization		1,030			104,454			407			—			105,891
Total operating expenses		1,030			1,282,937			28,558			—			1,312,525

Loss on sale of asset or disposal of property and equipment		(20	)		(299	)		—			—			(319	)
Proceeds from terminated sale		—			20,000									20,000
Transaction expenses		(70,865	)		(21,912	)		—			—			(92,777	)
Equity in loss of unconsolidated affiliate		—			(367	)		—			—			(367	)
Operating (loss) income		(71,915	)		165,688			1,037			—			94,810

Interest expense, net		(73,448	)		(25,221	)		(1,100	)		—			(99,769	)
Loss on early retirement of debt, net		(38,430	)		—			—			—			(38,430	)
Subsidiary income (loss)		205,251			—			—			(205,251	)		—
Income (loss) before income taxes		21,458			140,467			(63	)		(205,251	)		(43,389	)
Income tax benefit (provision)		51,922			69,787			(4,940	)		—			116,769
Net income (loss)	$	73,380		$	210,254		$	(5,003	)	$	(205,251	)	$	73,380

The consolidating condensed statements of income for the year ended December 31, 2016 is as follows:

Statements of Income:

	Eldorado Resorts, Inc. (Parent Obligor)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating and Eliminating Entries			Eldorado Resorts, Inc. Consolidated
Revenues:
Gaming and pari-mutuel commissions	$	—		$	599,750		$	265		$	—		$	600,015
Non-gaming		—			300,360			90			—			300,450
Net revenues		—			900,110			355			—			900,465

Operating expenses:
Gaming and pari-mutuel commissions		—			352,220			—			—			352,220
Non-gaming		—			194,586			—			—			194,586
Marketing and promotions		—			40,886			4			—			40,890
General and administrative		—			130,720			—			—			130,720
Corporate		19,560			320			—			—			19,880
Management fee		(19,841	)		19,841			—			—			—
Depreciation and amortization		454			62,995			—			—			63,449
Total operating expenses		173			801,568			4			—			801,745

Loss on sale of asset or disposal of property and equipment		—			(836	)		—			—			(836	)
Transaction expenses		(9,184	)		—			—			—			(9,184	)
Operating (loss) income		(9,357	)		97,706			351			—			88,700

Interest expense, net		(24,562	)		(26,355	)		—			—			(50,917	)
Loss on early retirement of debt, net		(155	)		—			—			—			(155	)
Subsidiary income (loss)		45,372			—			—			(45,372	)		—
Income (loss) before income taxes		11,298			71,351			351			(45,372	)		37,628
Income tax benefit		13,229			(26,207	)		(123	)		—			(13,101	)
Net income (loss)	$	24,527		$	45,144		$	228		$	(45,372	)	$	24,527

Consolidating Condensed Statement of Cash Flows

The consolidating condensed statement of cash flows for the year ended December 31, 2018 is as follows:

Statement of Cash Flows

	Eldorado Resorts, Inc. (Parent Obligor)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating and Eliminating Entries		Eldorado Resorts, Inc. Consolidated
	(in thousands)
Net cash (used in) provided by operating activities	$	(65,836	)	$	387,576		$	1,540		$	—	$	323,280
INVESTING ACTIVITIES:
Purchase of property and equipment, net		(8,467	)		(136,102	)		(2,846	)		—		(147,415	)
Purchase of restricted investments		—			—			(8,008	)		—		(8,008	)
Proceeds from sale of property and equipment		—			1,002			—			—		1,002
Cash (used in) provided by business combinations		(1,010,175	)		(103,052	)		—			—		(1,113,227	)
Investments in and advances to unconsolidated affiliate		—			(581	)		—			—		(581	)
Net cash used in investing activities		(1,018,642	)		(238,733	)		(10,854	)		—		(1,268,229	)
FINANCING ACTIVITIES:
Proceeds from issuance of long-term debt		600,000			246,000			—			—		846,000
Borrowings under Revolving Credit Facility		315,358			—			—			—		315,358
Payments under Revolving Credit Facility		(70,358	)		—			—			—		(70,358	)
Net proceeds from (payments to) related parties		285,026			(290,312	)		5,286			—		—
Debt issuance costs		(25,758	)		—			—			—		(25,758	)
Taxes paid related to net share settlement of equity awards		(11,708	)		—			—			—		(11,708	)
Proceeds from exercise of stock options		154			—			—			—		154
Purchase of treasury stock		(9,131	)		—			—			—		(9,131	)
Payments on other long-term payables		(92	)		(278	)		(296	)		—		(666	)
Net cash provided by (used in) financing activities		1,083,491			(44,590	)		4,990			—		1,043,891
Increase in cash, cash equivalents and restricted cash		(987	)		104,253			(4,324	)		—		98,942
Cash, cash equivalents and restricted cash, beginning of period		13,831			118,419			15,499			—		147,749
Cash, cash equivalents and restricted cash, end of period	$	12,844		$	222,672		$	11,175		$	—	$	246,691

RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO AMOUNTS REPORTED WITHIN THE CONDENSED CONSOLIDATED BALANCE SHEETS:
Cash and cash equivalents	$	12,127		$	208,697			9,928		$	—	$	230,752
Restricted cash		717			7,920			247			—		8,884
Restricted and escrow cash included in other noncurrent assets		—			6,055			1,000			—		7,055
Total cash, cash equivalents and restricted cash	$	12,844		$	222,672		$	11,175		$	—	$	246,691

The consolidating condensed statement of cash flows for the year ended December 31, 2017 is as follows:

Statement of Cash Flows

	Eldorado Resorts, Inc. (Parent Obligor)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating and Eliminating Entries		Eldorado Resorts, Inc. Consolidated
	(in thousands)
Net cash (used in) provided by operating activities	$	(44,737	)	$	170,553		$	4,070		$	—	$	129,886
INVESTING ACTIVITIES:
Purchase of property and equipment, net		(11,073	)		(70,449	)		(1,639	)		—		(83,161	)
Proceeds from sale of property and equipment		—			135			—			—		135
Net cash (used in) provided by business combinations		(1,355,370	)		37,103			5,216			—		(1,313,051	)
Investments in and advances to unconsolidated affiliate		—			(604	)		—			—		(604	)
Net cash used in investing activities		(1,366,443	)		(33,815	)		3,577			—		(1,396,681	)
FINANCING ACTIVITIES:
Proceeds from issuance of long-term debt		2,325,000			—			—			—		2,325,000
Borrowings under Revolving Credit Facility		207,953			—			—			—		207,953
Payments under long-term debt		(911,875	)		—			—			—		(911,875	)
Payments under Revolving Credit Facility		(236,953	)		—			—			—		(236,953	)
Net proceeds from (payments to) related parties		72,011			(79,634	)		7,623			—		—
Debt premium proceeds		27,500			—			—					27,500
Payments on other long-term payables		(43	)		(318	)		(172	)		—		(533	)
Debt issuance costs		(51,526	)		—			—			—		(51,526	)
Taxes paid related to net share settlement of equity awards		(11,365	)		—			—			—		(11,365	)
Proceeds from exercise of stock options		2,900			—			—			—		2,900
Net cash provided by (used in) financing activities		1,423,602			(79,952	)		7,451			—		1,351,101
Increase in cash, cash equivalents and restricted cash		12,422			56,786			15,098			—		84,306
Cash, cash equivalents and restricted cash, beginning of period		1,409			61,633			401			—		63,443
Cash, cash equivalents and restricted cash, end of period	$	13,831		$	118,419		$	15,499		$	—	$	147,749

RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO AMOUNTS REPORTED WITHIN THE CONDENSED CONSOLIDATED BALANCE SHEETS:
Cash and cash equivalents	$	13,202		$	114,925		$	6,469		$	—	$	134,596
Restricted cash		629			2,495			143			—		3,267
Restricted cash included in other noncurrent assets		—			999			8,887			—		9,886
Total cash, cash equivalents and restricted cash	$	13,831		$	118,419		$	15,499		$	—	$	147,749

The consolidating condensed statement of cash flows for the year ended December 31, 2016 is as follows:

Statement of Cash Flows

	Eldorado Resorts, Inc. (Parent Obligor)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating and Eliminating Entries		Eldorado Resorts, Inc. Consolidated
Net cash (used in) provided by operating activities	$	(16,337	)	$	111,608		$	101		$	—	$	95,372
INVESTING ACTIVITIES:
Purchase of property and equipment, net		133			(43,305	)		(1	)		—		(43,173	)
Proceeds from sale of property and equipment		—			1,560			—			—		1,560
Net cash used in business combinations		—			(194	)		—			—		(194	)
Net cash used in by investing activities		133			(41,939	)		(1	)		—		(41,807	)
FINANCING ACTIVITIES:
Payments under long-term debt		(4,250	)		—			—			—		(4,250	)
Borrowings under Revolving Credit Facility		73,000			—			—			—		73,000
Payments under Revolving Credit Facility		(137,500	)		—			—			—		(137,500	)
Principal payments on capital leases		(4,288	)		—			—			—		(4,288	)
Net proceeds from (payments to) related parties		90,353			(90,486	)		133			—		—
Taxes paid related to net share settlement of equity awards		(744	)		—			—			—		(744	)
Proceeds from exercise of stock options		385			—			—			—		385
Payments on other long-term payables		—			(274	)		—			—		(274	)
Net cash provided by (used in) financing activities		16,956			(90,760	)		133			—		(73,671	)
Increase in cash, cash equivalents and restricted cash		752			(21,091	)		233			—		(20,106	)
Cash, cash equivalents and restricted cash, beginning of period		657			82,724			168			—		83,549
Cash, cash equivalents and restricted cash, end of period	$	1,409		$	61,633		$	401		$	—	$	63,443

Quarterly Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2018

Quarterly Financial Data [Abstract]

Quarterly Data (Unaudited)

	Quarter Ended
	March 31,		June 30,		September 30,		December 31,
	(Dollars in thousands, except per share amounts)
2018:
Net revenues		440,192		456,802		487,253		671,760
Operating expenses		382,659		376,439		396,220		573,696
Operating income		54,194		77,414		91,769		86,726
Net income (loss)	$	20,855	$	36,796	$	37,704	$	(120	)
Basic net income (loss) per common share	$	0.27	$	0.48	$	0.49	$	0.00
Diluted net income (loss) per common share	$	0.27	$	0.47	$	0.48	$	0.00
Weighted average shares outstanding—basic		77,353,730		77,458,584		77,522,664		77,503,732
Weighted average shares outstanding—diluted (1)		78,080,049		78,258,629		78,283,588		77,503,732

(1)	Excluded from “Weighted average shares outstanding-diluted” are 100,091 stock options and 905,420 RSUs for the three months ended December 31, 2018 as the inclusion of these shares would have an anti-dilutive effect.

	Quarter Ended
	March 31,		June 30,			September 30,		December 31,
	(Dollars in thousands, except per share amounts)
2017:
Net revenues		202,393	$	375,626		$	472,878	$	429,901
Operating expenses		186,561		320,480			389,273		416,211
Operating income (loss)		14,028		(30,467	)		81,493		29,756
Net income (loss)	$	945	$	(46,190	)	$	29,687	$	88,938
Basic net income (loss) per common share	$	0.02	$	(0.68	)	$	0.39	$	1.16
Diluted net income (loss) per common share	$	0.02	$	(0.68	)	$	0.38	$	1.14
Weighted average shares outstanding—basic		47,120,751		67,453,095			76,902,070		76,961,015
Weighted average shares outstanding—diluted		48,081,281		67,453,095			77,959,689		77,998,742

(2)	Excluded from ““Weighted average shares outstanding-diluted” are 78,435 stock options and 937,661 RSUs for the three months ended June 30, 2017 as the inclusion of these shares would have an anti-dilutive effect

	Quarter Ended
	March 31,		June 30,		September 30,		December 31,
	(Dollars in thousands, except per share amounts)
2016:
Net revenues		215,583	$	233,493	$	243,049	$	208,340
Operating expenses		196,855		203,016		210,584		191,290
Operating income		18,281		29,585		27,739		13,095
Net income	$	3,379	$	10,737	$	9,450	$	961
Basic net income per common share	$	0.07	$	0.23	$	0.20	$	0.02
Diluted net income per common share	$	0.07	$	0.22	$	0.20	$	0.02
Weighted average shares outstanding—basic		46,933,094		47,071,608		47,193,120		47,105,744
Weighted average shares outstanding—diluted		47,534,761		47,721,075		47,834,644		47,849,554

Organization and Basis of Presentation - Additional information (Details)	12 Months Ended
	Dec. 31, 2018 Facility State property Game Hotel room Machine Terminal a	Oct. 01, 2018 property	May 01, 2017 property	Nov. 24, 2015	Sep. 30, 2014 Facility
Organization and Basis of Presentation
Number of gaming facilities \| Facility	28
Number of states gaming facilities are located \| State	13
Number of slot machines and video lottery terminals \| property	30,000
Number of table games \| Game	800
Number of room in hotel \| Hotel	12,600
Eldorado Reno
Organization and Basis of Presentation
Number of table games \| Game	36
Number of room in hotel	814
Number of slot machines \| Machine	1,117
Silver Legacy
Organization and Basis of Presentation
Number of table games \| Game	48
Number of slot machines \| Machine	1,119
Number of rooms in themed hotel	1,685
Number of table poker room	13
Eldorado Shreveport
Organization and Basis of Presentation
Number of table games \| Game	52
Number of slot machines \| Machine	1,388
Number of table poker room	8
Number of rooms in suite art deco-style hotel	403
Mountaineer
Organization and Basis of Presentation
Number of table games \| Game	36
Number of room in hotel	357
Number of slot machines \| Machine	1,486
Number of table poker room	10
Presque Isle Downs
Organization and Basis of Presentation
Number of table games \| Game	32
Number of slot machines \| Machine	1,596
Number of table poker room	7
Scioto Downs
Organization and Basis of Presentation
Number of room in hotel	118
Number of video lottery terminals \| Terminal	2,238
MTR Gaming Group, Inc
Organization and Basis of Presentation
Number of gaming and racing facilities acuired \| Facility					3
Isle of Capri
Organization and Basis of Presentation
Acquisition date	May 01, 2017
Number of properties added to portfolio \| property			13
Elgin Acquisition
Organization and Basis of Presentation
Acquisition date	Aug. 07, 2018
Tropicana Entertainment Inc
Organization and Basis of Presentation
Acquisition date	Oct. 01, 2018
Number of properties added to portfolio \| property		7
Circus Reno
Organization and Basis of Presentation
Number of room in hotel	1,571
Number of slot machines \| Machine	722
Silver Legacy Joint Venture
Organization and Basis of Presentation
Ownership interest	50.00%			50.00%
Isle Casino Hotel
Organization and Basis of Presentation
Number of table games \| Game	28
Number of room in hotel	238
Number of slot machines \| Machine	966
Number of table poker room	10
Number of acre owned \| a	10
Lady Luck Casino
Organization and Basis of Presentation
Number of table games \| Game	7
Number of room in hotel	164
Number of slot machines \| Machine	442
Isle Casino Racing Pompano
Organization and Basis of Presentation
Number of slot machines \| Machine	1,596
Number of table poker room	39
Number of acre owned \| a	223
Isle Casino Bettendorf
Organization and Basis of Presentation
Number of table games \| Game	15
Number of room in hotel	509
Number of slot machines \| Machine	969
Number of towers in hotel	2
Isle Casino Waterloo
Organization and Basis of Presentation
Number of table games \| Game	23
Number of room in hotel	194
Number of slot machines \| Machine	939
Isle of Capri Casino Hotel Lake Charles
Organization and Basis of Presentation
Number of table games \| Game	34
Number of room in hotel	493
Number of slot machines \| Machine	1,164
Number of table poker room	11
Number of acre owned \| a	19
Number of hotels \| Hotel	2
Isle of Capri Casino Lula
Organization and Basis of Presentation
Number of table games \| Game	25
Number of room in hotel	486
Number of slot machines \| Machine	862
Number of hotels \| Hotel	2
Lady Luck Casino Vicksburg
Organization and Basis of Presentation
Number of room in hotel	89
Number of slot machines \| Machine	607
Isle of Capri Casino Boonville
Organization and Basis of Presentation
Number of table games \| Game	20
Number of room in hotel	140
Number of slot machines \| Machine	881
Isle Casino Cape Girardeau
Organization and Basis of Presentation
Number of table games \| Game	20
Number of slot machines \| Machine	863
Number of table poker room	4
Lady Luck Casino Caruthersville
Organization and Basis of Presentation
Number of table games \| Game	9
Number of slot machines \| Machine	507
Isle of Capri Casino Kansas City
Organization and Basis of Presentation
Number of table games \| Game	13
Number of slot machines \| Machine	938
Lady Luck Casino Nemacolin
Organization and Basis of Presentation
Number of table games \| Game	28
Number of slot machines \| Machine	600
Number of acre owned \| a	2,000
Tropicana Casino and Resort - Atlanctic City
Organization and Basis of Presentation
Number of table games \| Game	107
Number of room in hotel	2,366
Number of slot machines \| Machine	2,464
Number of table poker room	18
Number of acre owned \| a	15
Tropicana Evansville
Organization and Basis of Presentation
Number of table games \| Game	33
Number of room in hotel	338
Number of slot machines \| Machine	1,128
Number of table poker room	8
Number of hotels \| Hotel	2
Lumiere Place Casino
Organization and Basis of Presentation
Number of table games \| Game	48
Number of room in hotel	494
Number of slot machines \| Machine	1,401
Number of table poker room	10
Number of acre owned \| a	20
Tropicana Laughlin
Organization and Basis of Presentation
Number of table games \| Game	20
Number of room in hotel	1,487
Number of slot machines \| Machine	895
Mont Bleu Casino Resort & Spa
Organization and Basis of Presentation
Number of table games \| Game	17
Number of room in hotel	438
Number of slot machines \| Machine	474
Number of acre owned \| a	21
Trop Casino Greenville
Organization and Basis of Presentation
Number of table games \| Game	10
Number of room in hotel	40
Number of slot machines \| Machine	590
Belle of Baton Rough
Organization and Basis of Presentation
Number of table games \| Game	14
Number of room in hotel	288
Number of slot machines \| Machine	773
Number of acre owned \| a	23
Grand Victoria Casino Elgin
Organization and Basis of Presentation
Number of table games \| Game	30
Number of slot machines \| Machine	1,088

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)	3 Months Ended												12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Nov. 24, 2015
Restricted Cash
Loss related to change in fair value													$ 43,000
Property and Equipment
Impairment charge of assets being held and used													0	$ 0	$ 0
Investment in Unconsolidated Affiliates
Impairment charge													0	0	0
Goodwill and Intangible Asset Impairment
Impairment charges related to goodwill													9,815,000	34,916,000
Impairment charges related to trade names														3,100,000
Impairment of goodwill and indefinite-lived intangible assets													0		0
Impairment charges													13,602,000	38,016,000
Impairment charges													0	0	0
Impairment of non operating real property													0	0	0
Disaggregation of Revenue
Net revenues	$ 671,760,000	$ 487,253,000	$ 456,802,000	$ 440,192,000	$ 429,901,000	$ 472,878,000	$ 375,626,000	$ 202,393,000	$ 208,340,000	$ 243,049,000	$ 233,493,000	$ 215,583,000	2,056,007,000	1,480,798,000	900,465,000
Advertising
Advertising Costs													33,900,000	33,000,000	15,500,000
Adoption of ASC Topic 606
Advertising
Cumulative effect on retained earnings, before tax													4,700,000
Cumulative effect on retained earnings, net of tax													3,500,000
Complimentaries and Loyalty Point Redemptions
Disaggregation of Revenue
Net revenues													$ 210,800,000	172,400,000	112,800,000
Silver Legacy Joint Venture
Investment in Unconsolidated Affiliates
Ownership interest	50.00%												50.00%			50.00%
Nemacolin \| Disposal Group, Held-for-sale, Not Discontinued Operations
Property and Equipment
Impairment charge of net assets being sold													$ 3,800,000	0	$ 0
Churchill Downs Incorporated \| Vicksburg's
Goodwill and Intangible Asset Impairment
Impairment charges													9,800,000
Accounts Receivable
Accounts Receivable and Credit Risk
Concentration Risk, Credit Risk, Financial Instruments													$ 0	$ 0
Maximum
Loyalty Program
Loyalty program liability redemption period													1 year

Summary of Significant Accounting Policies - Schedule of Property, Plant and Equipment, Estimated Useful Life (Details)	12 Months Ended
	Dec. 31, 2018
Buildings and Improvements \| Minimum
Property Plant And Equipment [Line Items]
Property, plant and equipment, useful life	10 years
Buildings and Improvements \| Maximum
Property Plant And Equipment [Line Items]
Property, plant and equipment, useful life	40 years
Land Improvements \| Minimum
Property Plant And Equipment [Line Items]
Property, plant and equipment, useful life	10 years
Land Improvements \| Maximum
Property Plant And Equipment [Line Items]
Property, plant and equipment, useful life	20 years
Furniture, Fixtures and Equipment \| Minimum
Property Plant And Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Furniture, Fixtures and Equipment \| Maximum
Property Plant And Equipment [Line Items]
Property, plant and equipment, useful life	20 years
Riverboats \| Minimum
Property Plant And Equipment [Line Items]
Property, plant and equipment, useful life	5 years
Riverboats \| Maximum
Property Plant And Equipment [Line Items]
Property, plant and equipment, useful life	25 years

Summary of Significant Accounting Policies - Summary of Net Revenues Disaggregated Type of Revenue and Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disaggregation Of Revenue [Line Items]
Net revenues	$ 671,760	$ 487,253	$ 456,802	$ 440,192	$ 429,901	$ 472,878	$ 375,626	$ 202,393	$ 208,340	$ 243,049	$ 233,493	$ 215,583	$ 2,056,007	$ 1,480,798	$ 900,465
Casino
Disaggregation Of Revenue [Line Items]
Net revenues													1,534,954	1,085,014	591,471
Pari-mutuel Commissions
Disaggregation Of Revenue [Line Items]
Net revenues													18,437	14,013	8,544
Food and Beverage
Disaggregation Of Revenue [Line Items]
Net revenues													247,332	198,246	155,217
Hotel
Disaggregation Of Revenue [Line Items]
Net revenues													183,798	133,338	100,462
Other
Disaggregation Of Revenue [Line Items]
Net revenues													71,486	50,187	44,771
Corporate
Disaggregation Of Revenue [Line Items]
Net revenues													529	506
Corporate \| Other
Disaggregation Of Revenue [Line Items]
Net revenues													529	506
West Segment \| Operating Segment
Disaggregation Of Revenue [Line Items]
Net revenues													483,532	410,319	327,541
West Segment \| Operating Segment \| Casino
Disaggregation Of Revenue [Line Items]
Net revenues													230,571	186,779	121,623
West Segment \| Operating Segment \| Food and Beverage
Disaggregation Of Revenue [Line Items]
Net revenues													109,038	102,244	96,708
West Segment \| Operating Segment \| Hotel
Disaggregation Of Revenue [Line Items]
Net revenues													108,327	91,811	79,880
West Segment \| Operating Segment \| Other
Disaggregation Of Revenue [Line Items]
Net revenues													35,596	29,485	29,330
Midwest Segment \| Operating Segment
Disaggregation Of Revenue [Line Items]
Net revenues													397,008	268,879
Midwest Segment \| Operating Segment \| Casino
Disaggregation Of Revenue [Line Items]
Net revenues													345,499	231,366
Midwest Segment \| Operating Segment \| Food and Beverage
Disaggregation Of Revenue [Line Items]
Net revenues													27,364	20,452
Midwest Segment \| Operating Segment \| Hotel
Disaggregation Of Revenue [Line Items]
Net revenues													16,365	12,177
Midwest Segment \| Operating Segment \| Other
Disaggregation Of Revenue [Line Items]
Net revenues													7,780	4,884
South Segment \| Operating Segment
Disaggregation Of Revenue [Line Items]
Net revenues													461,181	338,259	133,557
South Segment \| Operating Segment \| Casino
Disaggregation Of Revenue [Line Items]
Net revenues													365,365	262,937	92,108
South Segment \| Operating Segment \| Pari-mutuel Commissions
Disaggregation Of Revenue [Line Items]
Net revenues													10,383	5,743
South Segment \| Operating Segment \| Food and Beverage
Disaggregation Of Revenue [Line Items]
Net revenues													52,924	42,114	26,133
South Segment \| Operating Segment \| Hotel
Disaggregation Of Revenue [Line Items]
Net revenues													24,792	21,459	12,246
South Segment \| Operating Segment \| Other
Disaggregation Of Revenue [Line Items]
Net revenues													7,717	6,006	3,070
East Segment \| Operating Segment
Disaggregation Of Revenue [Line Items]
Net revenues													571,272	462,835	439,367
East Segment \| Operating Segment \| Casino
Disaggregation Of Revenue [Line Items]
Net revenues													476,993	403,932	377,740
East Segment \| Operating Segment \| Pari-mutuel Commissions
Disaggregation Of Revenue [Line Items]
Net revenues													8,054	8,270	8,544
East Segment \| Operating Segment \| Food and Beverage
Disaggregation Of Revenue [Line Items]
Net revenues													43,167	33,436	32,376
East Segment \| Operating Segment \| Hotel
Disaggregation Of Revenue [Line Items]
Net revenues													26,694	7,891	8,336
East Segment \| Operating Segment \| Other
Disaggregation Of Revenue [Line Items]
Net revenues													16,364	$ 9,306	$ 12,371
Central Segment \| Operating Segment
Disaggregation Of Revenue [Line Items]
Net revenues													142,485
Central Segment \| Operating Segment \| Casino
Disaggregation Of Revenue [Line Items]
Net revenues													116,526
Central Segment \| Operating Segment \| Food and Beverage
Disaggregation Of Revenue [Line Items]
Net revenues													14,839
Central Segment \| Operating Segment \| Hotel
Disaggregation Of Revenue [Line Items]
Net revenues													7,620
Central Segment \| Operating Segment \| Other
Disaggregation Of Revenue [Line Items]
Net revenues													$ 3,500

Acquisitions, Purchase Price Accounting and Pro forma Information - Tropicana Acquisition - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended	12 Months Ended
	Oct. 01, 2018	Dec. 31, 2018	Dec. 31, 2018	Sep. 20, 2018	Apr. 15, 2018
6% Senior Notes due 2026
Business Acquisition [Line Items]
Proceeds from issuance of senior notes	$ 600,000
Interest rate (as a percent)	6.00%	6.00%	6.00%	6.00%
Senior notes, maturity year	2026		2026
Tropicana Entertainment Inc
Business Acquisition [Line Items]
Acquisition agreement date			Apr. 15, 2018
Acquisition date			Oct. 01, 2018
Business acquisition, consideration payable		$ 927,333	$ 927,333		$ 1,900,000
Cash consideration paid	$ 640,000
Purchase price of real property	927,300
Business acquisition, transaction costs			18,300
Business acquisition, accrued costs and expenses		500	$ 500
Purchase consideration	927,333
Net revenues generated from the acquisition date		205,100
Net income (loss) generated from the acquisition date		$ (8,700)
Tropicana Entertainment Inc \| Player Loyalty Programs
Business Acquisition [Line Items]
Estimated useful life			3 years
Tropicana Entertainment Inc \| Tropicana Aruba Resort, Casino and GLPI
Business Acquisition [Line Items]
Cash consideration paid	964,000
Tropicana Entertainment Inc \| GLPI
Business Acquisition [Line Items]
Loan amount to fund real property	246,000
Fair value of real estate	$ 957,300

Acquisitions, Purchase Price Accounting and Pro forma Information - Schedule of Purchase Consideration Calculation (Details) - USD ($) $ / shares in Units, $ in Thousands	Oct. 01, 2018	Aug. 07, 2018	May 01, 2017	Dec. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Shares of ERI common stock issued for Isle common stock, shares				77,438,889	76,825,966
Tropicana Entertainment Inc
Business Acquisition [Line Items]
Cash consideration paid	$ 640,000
Lumière Loan	246,000
Cash paid to retire long term debt	35,000
ERI portion of taxes due	6,333
Purchase consideration	$ 927,333
Elgin Acquisition
Business Acquisition [Line Items]
Cash consideration paid		$ 327,500
Working capital and other adjustments		1,304
Purchase consideration		$ 328,804
Isle of Capri
Business Acquisition [Line Items]
Cash consideration paid			$ 552,050
Shares of ERI common stock issued for Isle common stock, shares			28,468,182
Shares of ERI common stock issued for Isle common stock, per share			$ 19.12
Shares of ERI common stock issued for Isle common stock			$ 544,312
Cash paid to retire long term debt			828,000
Shares of ERI common stock for Isle equity awards			10,383
Purchase consideration			$ 1,934,745

Acquisitions, Purchase Price Accounting and Pro forma Information - Summary of Purchase Consideration to Identifiable Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Apr. 15, 2018	Dec. 31, 2017	Dec. 31, 2016
Business Acquisition [Line Items]
Goodwill	$ 1,008,316		$ 747,106	$ 66,826
Tropicana Entertainment Inc
Business Acquisition [Line Items]
Current and other assets	183,292
Property and equipment	432,758
Property subject to the financing obligation	957,300
Goodwill	220,482
Intangible assets	247,976
Other noncurrent assets	38,276
Total assets	2,080,084
Current liabilities	(168,856)
Financing obligation	(957,300)
Noncurrent liabilities	(26,595)
Total liabilities	(1,152,751)
Net assets acquired	927,333	$ 1,900,000
Elgin Acquisition
Business Acquisition [Line Items]
Cash and cash equivalents	25,349
Property and equipment	60,792
Goodwill	59,774
Intangible assets	205,296
Other noncurrent assets	915
Total assets	352,126
Current liabilities	(21,572)
Noncurrent liabilities	(1,750)
Total liabilities	(23,322)
Net assets acquired	328,804
Isle of Capri
Business Acquisition [Line Items]
Current and other assets	135,925
Property and equipment	908,816
Goodwill	709,087
Intangible assets	517,470
Other noncurrent assets	15,082
Total assets	2,286,380
Current liabilities	(144,306)
Deferred income taxes	(189,952)
Other noncurrent liabilities	(17,377)
Total liabilities	(351,635)
Net assets acquired	$ 1,934,745

Acquisitions, Purchase Price Accounting and Pro forma Information - Summary of Purchase Consideration to Identifiable Assets Acquired and Liabilities Assumed (Parenthetical) (Details) $ in Thousands	Dec. 31, 2018 USD ($)
Tropicana Entertainment Inc
Business Acquisition [Line Items]
Intangible asset acuired	$ 247,976
Tropicana Entertainment Inc \| Player Loyalty Programs
Business Acquisition [Line Items]
Intangible asset acuired	55,900
Tropicana Entertainment Inc \| Gaming licenses
Business Acquisition [Line Items]
Intangible asset acuired	124,900
Tropicana Entertainment Inc \| Trade Names
Business Acquisition [Line Items]
Intangible asset acuired	67,100
Elgin Acquisition
Business Acquisition [Line Items]
Intangible asset acuired	205,296
Elgin Acquisition \| Player Loyalty Programs
Business Acquisition [Line Items]
Intangible asset acuired	28,800
Elgin Acquisition \| Gaming licenses
Business Acquisition [Line Items]
Intangible asset acuired	163,900
Elgin Acquisition \| Trade Names
Business Acquisition [Line Items]
Intangible asset acuired	12,600
Isle of Capri
Business Acquisition [Line Items]
Intangible asset acuired	517,470
Isle of Capri \| Player Loyalty Programs
Business Acquisition [Line Items]
Intangible asset acuired	14,100
Isle of Capri \| Trade Names
Business Acquisition [Line Items]
Intangible asset acuired	108,300
Isle of Capri \| Gaming Licenses
Business Acquisition [Line Items]
Intangible asset acuired	$ 395,100

Acquisitions, Purchase Price Accounting and Pro forma Information - Elgin - Additional Information (Details) - Elgin Acquisition - USD ($) $ in Thousands		5 Months Ended	12 Months Ended
	Aug. 07, 2018	Dec. 31, 2018	Dec. 31, 2018
Business Acquisition [Line Items]
Acquisition date			Aug. 07, 2018
Purchase consideration	$ 328,804
Percentage of partnership interest	100.00%
Net revenues generated from the acquisition date		$ 63,000
Net income (loss) generated from the acquisition date		$ 7,600
Player Loyalty Programs
Business Acquisition [Line Items]
Estimated useful life			4 years

Acquisitions, Purchase Price Accounting and Pro forma Information - Schedule of Purchase Consideration Calculation (Parenthetical) (Details) - Isle of Capri - USD ($) $ / shares in Units, $ in Millions	May 01, 2017	Apr. 28, 2017
Business Acquisition [Line Items]
Cash paid for premiums and interest on Isle's long term debt	$ 26.6
Merger Agreement
Business Acquisition [Line Items]
Cash consideration paid as percent of outstanding shares	58.00%
Equity consideration paid as percent of outstanding shares	42.00%
Right to receive per share	$ 23.00
Stock election exchange rate (as a percent)	42.00%
Stock consideration (per share)		$ 19.12
Merger Agreement \| Converted to a Right to Receive 1.638 Share of ERI Stock
Business Acquisition [Line Items]
Number of shares granted on conversion (per share)	1.638

Acquisitions, Purchase Price Accounting and Pro forma Information - Isle - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended	8 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Dec. 31, 2018
Business Acquisition [Line Items]
Goodwill adjustment			$ (6,109)
Isle of Capri
Business Acquisition [Line Items]
Goodwill adjustment	$ 6,100
Net revenues generated from the acquisition date		$ 600,100
Net income (loss) generated from the acquisition date		$ 102,500
Isle of Capri \| Player Loyalty Programs
Business Acquisition [Line Items]
Estimated useful life			3 years

Acquisitions, Purchase Price Accounting and Pro forma Information - Unaudited Pro Forma Information - (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Tropicana Entertainment Inc
Business Acquisition [Line Items]
Net operating revenues	$ 2,735,760	$ 2,361,372
Net income	92,556	16,651
Elgin Acquisition
Business Acquisition [Line Items]
Net operating revenues	2,152,948	1,644,907
Net income	$ 105,689	79,158
Isle of Capri
Business Acquisition [Line Items]
Net operating revenues		1,810,815
Net income		$ 173,027

Accounts Receivable - Schedule of Accounts Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Receivables [Abstract]
Accounts receivable	$ 63,843	$ 47,017
Allowance for doubtful accounts	(3,674)	(1,220)
Total	$ 60,169	$ 45,797

Accounts Receivable - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Receivables [Abstract]
Bad debt expense	$ 1.6	$ 0.5

Assets Held for Sale - Additional information (Details) - USD ($)		12 Months Ended
	Jul. 06, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Aug. 10, 2018	Feb. 28, 2018
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Impairment charges		$ 13,602,000	$ 38,016,000
Disposal Group, Held-for-sale, Not Discontinued Operations \| Churchill Downs Incorporated
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Termination fee	$ 5,000,000
Disposal Group, Held-for-sale, Not Discontinued Operations \| Nemacolin
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Cash consideration on sale of assets and liabilities					$ 100,000
Impairment charge of net assets being sold		3,800,000	$ 0	$ 0
Vicksburg's \| Churchill Downs Incorporated
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Impairment charges		$ 9,800,000
Presque Isle Downs \| Disposal Group, Held-for-sale, Not Discontinued Operations
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Cash consideration on sale of assets and liabilities						$ 178,900,000
Vicksburg \| Disposal Group, Held-for-sale, Not Discontinued Operations
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Cash consideration on sale of assets and liabilities						$ 50,600,000

Assets Held for Sale - Schedule of Assets and Liabilities Held for Sale, Accounted Carrying Value Lower than Fair Value (Details) $ in Thousands	Dec. 31, 2018 USD ($)
ASSETS
Assets held for sale	$ 155,771
Liabilities:
Liabilities related to assets held for sale	10,691
Disposal Group, Held-for-sale, Not Discontinued Operations
ASSETS
Accounts receivable, net	2,480
Inventories	1,686
Prepaid expenses and other	1,143
Property and equipment, net	71,918
Goodwill	3,122
Other intangibles, net	75,422
Assets held for sale	155,771
Liabilities:
Accounts payable	830
Accrued payroll and related	1,434
Accrued property and other taxes	623
Accrued other liabilities	5,287
Other long-term liabilities	105
Long term obligation	2,412
Liabilities related to assets held for sale	10,691
Nemacolin \| Disposal Group, Held-for-sale, Not Discontinued Operations
ASSETS
Accounts receivable, net	272
Inventories	79
Prepaid expenses and other	370
Property and equipment, net	1,784
Assets held for sale	2,505
Liabilities:
Accounts payable	147
Accrued payroll and related	838
Accrued property and other taxes	552
Accrued other liabilities	1,628
Other long-term liabilities	105
Long term obligation	2,412
Liabilities related to assets held for sale	5,682
Presque Isle Downs \| Disposal Group, Held-for-sale, Not Discontinued Operations
ASSETS
Accounts receivable, net	2,208
Inventories	1,607
Prepaid expenses and other	773
Property and equipment, net	70,134
Goodwill	3,122
Other intangibles, net	75,422
Assets held for sale	153,266
Liabilities:
Accounts payable	683
Accrued payroll and related	596
Accrued property and other taxes	71
Accrued other liabilities	3,659
Liabilities related to assets held for sale	$ 5,009

Assets Held for Sale - Schedule of Information of Net Operating Revenues and Net Income (Details) - Disposal Group, Held-for-sale, Not Discontinued Operations $ in Thousands	12 Months Ended
	Dec. 31, 2018 USD ($)
Nemacolin
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Net operating revenues	$ 33,461
Net (loss) income	(3,571)
Presque Isle Downs
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Net operating revenues	139,993
Net (loss) income	$ 13,935

Investments in and Advances to Unconsolidated Affiliates - Additional Information (Details) shares in Millions	1 Months Ended				12 Months Ended
	Jan. 31, 2019 shares	Sep. 30, 2018	Apr. 30, 2018 USD ($)	Nov. 30, 2017 USD ($)	Dec. 31, 2018 USD ($) a room	Dec. 31, 2017 USD ($)
Investment in Unconsolidated Affiliates
Investments in and advance to affiliates, subsidiaries, associates, and joint ventures					$ 1,300,000	$ 1,500,000
Receivable from partnership					$ 327,000	$ 243,000
Pompano Joint Venture
Investment in Unconsolidated Affiliates
Variable interest entity, ownership percentage			50.00%
Initial cash contributions in joint venture			$ 250,000
Pompano Joint Venture \| Maximum
Investment in Unconsolidated Affiliates
Additional contributions cap in joint venture			2,000,000
Cordish \| Pompano Joint Venture
Investment in Unconsolidated Affiliates
Initial cash contributions in joint venture			250,000
Additional contributions cap per member in joint venture			$ 1,000,000
William Hill
Investment in Unconsolidated Affiliates
Agreement period		25 years
William Hill \| Subsequent Event
Investment in Unconsolidated Affiliates
Agreement effective month and year	2019-01
Percentage of equity stake	20.00%
Equity stake value in ordinary shares \| shares	13.4
Other Investors
Investment in Unconsolidated Affiliates
Variable interest entity, ownership percentage					42.10%
Number of new rooms developed \| room					118
Cash					$ 1,000,000
Land \| a					2.4
Cost of hotel construction					$ 16,000,000
Contribution towards partnership for proportionate share of additional construction costs				$ 600,000
Receivable from partnership					$ 300,000

Property and Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Property Plant And Equipment [Line Items]
Property and equipment, net	$ 2,882,606	$ 1,502,817
Non Master Lease
Property Plant And Equipment [Line Items]
Property and equipment, gross	2,498,677	1,968,827
Less—Accumulated depreciation and amortization	(569,073)	(466,010)
Property and equipment, net	1,929,604	1,502,817
Non Master Lease \| Land and Improvements
Property Plant And Equipment [Line Items]
Property and equipment, gross	316,456	284,374
Non Master Lease \| Building and Other Leasehold Improvements
Property Plant And Equipment [Line Items]
Property and equipment, gross	1,472,516	1,187,642
Non Master Lease \| Riverboats
Property Plant And Equipment [Line Items]
Property and equipment, gross	81,762	61,091
Non Master Lease \| Furniture, Fixtures and Equipment
Property Plant And Equipment [Line Items]
Property and equipment, gross	586,404	420,399
Non Master Lease \| Furniture, Fixtures and Equipment Held Under Capital Leases
Property Plant And Equipment [Line Items]
Property and equipment, gross	193	870
Non Master Lease \| Construction in Progress
Property Plant And Equipment [Line Items]
Property and equipment, gross	41,346	$ 14,451
Master Lease
Property Plant And Equipment [Line Items]
Property and equipment, gross	957,300
Less—Accumulated depreciation and amortization	(4,298)
Property and equipment, net	953,002
Master Lease \| Land and Improvements
Property Plant And Equipment [Line Items]
Property and equipment, gross	377,150
Master Lease \| Building and Other Leasehold Improvements
Property Plant And Equipment [Line Items]
Property and equipment, gross	578,250
Master Lease \| Riverboats
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 1,900

Property and Equipment - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Property Plant And Equipment [Line Items]
Depreciation, depletion and amortization, nonproduction	$ 157,429	$ 105,891	$ 63,449
Depreciation expense including amortization expense on capital leases		$ 100,900	$ 58,900
Master Lease
Property Plant And Equipment [Line Items]
Depreciation expenses	4,300
Capital Leases
Property Plant And Equipment [Line Items]
Depreciation, depletion and amortization, nonproduction	$ 140,300

Intangible Assets, Net and Other Long Term Assets - Schedule of Intangible Assets, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Goodwill	$ 1,008,316	$ 747,106	$ 66,826
Goodwill, useful life	Indefinite
Intangible assets, excluding goodwill- gross	$ 1,388,716	1,013,944
Total gaming licenses and other intangible assets, net	1,362,006	996,816
Trade Names
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Finite-intangible assets, excluding goodwill- gross	$ 5,100	6,700
Finite-lived intangible asset, useful life	3 years 6 months
Accumulated amortization	$ (5,100)	(6,290)
Player Loyalty Program
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Finite-intangible assets, excluding goodwill- gross	105,005	21,820
Accumulated amortization	$ (21,610)	(10,838)
Player Loyalty Program \| Minimum
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Finite-lived intangible asset, useful life	3 years
Player Loyalty Program \| Maximum
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Finite-lived intangible asset, useful life	4 years
Gaming licenses
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Indefinite intangible assets, excluding goodwill- gross	$ 1,090,682	877,174
Indefinite intangible assets, useful life	Indefinite
Trade Names-Indefinite
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Indefinite intangible assets, excluding goodwill- gross	$ 187,929	$ 108,250
Indefinite intangible assets, useful life	Indefinite

Intangible Assets, Net and Other Long Term Assets - Additional Information (Details) $ in Thousands		12 Months Ended
	Oct. 01, 2017 Hotel	Dec. 31, 2018 USD ($) a	Dec. 31, 2017 USD ($)	Jan. 31, 2018 USD ($)
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Number of reporting units \| Hotel	3
Impairment charges		$ 13,602	$ 38,016
Impairment charges related to trade names			3,100
Goodwill impairment loss		$ 9,815	34,916
Contractual term maturity		40 years
Area of real property leased \| a		20
Pre-payment of lease rent		$ 20,198
Isle of Capri Casino Hotel Lake Charles
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Impairment charges related to trade names			1,500
Goodwill impairment loss			11,700
Isle of Capri Casino Lula
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Impairment charges related to trade names			300
Lady Luck Casino Vicksburg
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Impairment charges related to trade names			1,300
Goodwill impairment loss			23,200
Tropicana Evansville \| Indiana
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Area of real property leased \| a		10
Pre-payment of lease rent				$ 25,000
Future lease rent payment period		120 months
Lease expiration date		Nov. 30, 2027
Churchill Downs Incorporated \| Vicksburg's
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Impairment charges		$ 9,800
Gaming licenses
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Assets held for sale intangible assets		75,400
Trade Names and Loyalty Program
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Amortization expense		12,700	$ 5,100
2019		30,600
2020		27,400
2021		21,200
2022		4,200
Trade Names
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Assets held for sale intangible assets		$ 1,600

Intangible Assets, Net and Other Long Term Assets - Schedule of Changes to Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Goodwill [Roll Forward]
Beginning Balance	$ 747,106	$ 66,826
Acquisitions	280,256	715,196
Finalization of purchase price accounting	(6,109)
Assets Held for Sale	(3,122)
Impairments	(9,815)	(34,916)
Ending Balance	1,008,316	747,106
Goodwill, gross	1,053,047	782,022	$ 66,826
Accumulated Impairment	$ (44,731)	$ (34,916)

Intangible Assets, Net and Other Long Term Assets - Schedule of Other Assets, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Unamortized debt issuance costs - Revolving Credit Facility	$ 9,533	$ 8,616
Non-operating real property	17,880	18,069
Long-term prepaid rent	20,198
Restricted cash and investments	15,064	9,886
Other	15,969	12,130
Total other assets, net	85,338	$ 48,701
CRDA
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
CRDA bonds and deposits	$ 6,694

Accrued Other Liabilities - Schedule of Accrued Other Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Payables And Accruals [Abstract]
Accrued general liability claims	$ 16,465	$ 13,816
Unclaimed chips	8,930	4,743
Accrued purses and track related liabilities	1,899	3,256
Jackpot progressives and other accrued gaming liabilities	26,383	18,724
Player loyalty program point liability	17,639	11,753
Accrued Illinois donation liability	8,912
Accrued rent	4,324	2,074
Other	18,430	11,672
Total accrued other liabilities	$ 102,982	$ 66,038

Accrued Other Liabilities - Additional Information (Details) - USD ($) $ in Millions	5 Months Ended	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2018
Accrued Other Liabilities [Line Items]
Donation percentage of annual adjusted net operating income		20.00%
Payment of donation due period		120 days
Elgin Acquisition \| General and Administrative Expense
Accrued Other Liabilities [Line Items]
Business acquisition, transaction costs	$ 3.5

Long-Term Financing Obligation - Additional Information (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2018 USD ($)	Dec. 31, 2018 USD ($)
Sale Leaseback Transaction [Line Items]
Residual values	$ 372,800	$ 372,800
Lease term		35 years
Imputed discount rate		10.20%
Percentage of master lease on annual basic		2.00%
Master Lease
Sale Leaseback Transaction [Line Items]
Lessee, Operating Lease, Term of Contract	15 years	15 years
Lessee, operating lease, existence of option to extend		true
Lessee, operating lease, option to extend		The Master Lease provides for an initial term of fifteen years with no purchase option. At the Company’s option, the Master Lease may be extended for up to four five-year renewal terms beyond the initial 15-year term. If we elect to renew the term of the Master Lease, the renewal will be effective as to all, but not less than all, of the leased property then subject to the Master Lease.
Lessee, operating lease, option to terminate		The Company does not have the ability to terminate its obligations under the Master Lease prior to its expiration without GLPI’s consent.
Base rent		$ 13,400
Master Lease \| Building
Sale Leaseback Transaction [Line Items]
Base rent		$ 60,900
Percentage of master lease on annual basic		2.00%
Revenue to rent ratio as base to compute building rent for first five years		120.00%
Revenue to rent ratio as base to compute building rent for thereafter		180.00%
Master Lease \| Land
Sale Leaseback Transaction [Line Items]
Base rent		$ 13,400
Percentage of rent payable adjusted on actual net revenues leased properties term		2 years
Master Lease \| GLPI
Sale Leaseback Transaction [Line Items]
Expected initial annual rent expense	$ 87,600	$ 87,600
Lease payments	21,900
Lease expense	$ 24,400

Long-Term Financing Obligation - Schedule of Future Minimum Payments Related to Master Lease Financing Obligation (Details) $ in Thousands	Dec. 31, 2018 USD ($)
Leases [Abstract]
2019	$ 87,943
2020	89,168
2021	90,417
2022	91,691
2023	92,990
Thereafter	3,506,673
Total future payments	3,958,882
Less: Amounts representing interest at 10.2%	(3,371,847)
Plus: Residual values	372,800
Financing obligation to GLPI	$ 959,835

Long-Term Financing Obligation - Schedule of Future Minimum Payments Related to Master Lease Financing Obligation (Parenthetical) (Details)	12 Months Ended
	Dec. 31, 2018
Leases [Abstract]
Interest rate	10.20%

Long-Term Debt and Other Long-Term Liabilities - Summary of Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Sep. 20, 2018	Dec. 31, 2017	Sep. 13, 2017	Mar. 29, 2017	Jul. 23, 2015
Long-term debt
Less: Unamortized debt issuance costs	$ (9,533)		$ (8,616)
Long-term Debt	3,300,780
Capital leases	590		917
Long-term notes payable	2,440		2,531
Less: Current portion	(462)		(615)
Long-term debt, noncurrent	3,261,273		2,189,578
Term Loan
Long-term debt
Long-term debt, gross	956,750		956,750
Less: Unamortized discount and debt issuance costs	(18,426)		(18,748)
Long-term Debt	938,324		938,002
6% Senior Notes due 2025
Long-term debt
Long-term debt, gross	875,000		875,000	$ 500,000	$ 375,000
Plus: Unamortized debt premium	23,491		26,605
Less: Unamortized debt issuance costs	(18,405)		(20,716)
Long-term Debt	880,086		880,889
6% Senior Notes due 2026
Long-term debt
Long-term debt, gross	600,000	$ 600,000
Less: Unamortized discount and debt issuance costs	(19,630)
Long-term Debt	580,370
7% Senior Notes due 2023
Long-term debt
Long-term debt, gross	375,000		375,000			$ 375,000
Less: Unamortized discount and debt issuance costs	(6,075)		(7,146)
Long-term Debt	368,925		$ 367,854
Revolving Credit Facility
Long-term debt
Revolving Credit Facility	245,000
Lumière Loan
Long-term debt
Lumière Loan	$ 246,000

Long-Term Debt and Other Long-Term Liabilities - Schedule of Maturities of Principal Amount of Long-term Debt (Details) $ in Thousands	Dec. 31, 2018 USD ($)
Debt Disclosure [Abstract]
2019	$ 462
2020	246,235
2021	167
2022	173
2023	620,138
Thereafter	2,433,605
Long-term Debt	$ 3,300,780

Long-Term Debt and Other Long-Term Liabilities - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Long-term debt
Amortization of deferred financing costs, discount and debt premium		$ 5,600	$ 6,300	$ 3,500
Loss on early retirement of debt, net		$ (162)	(38,430)	$ (155)
6% Senior Notes Due 2025
Long-term debt
Loss on early retirement of debt, net	$ (11,100)		(38,400)
Credit Facility
Long-term debt
Loss on early retirement of debt, net			$ (27,300)

Long-Term Debt and Other Long-Term Liabilities - 7% Senior Notes due 2023 - Additional Information (Details) - 7% Senior Notes due 2023 - USD ($) $ in Thousands		12 Months Ended
	Jul. 23, 2015	Dec. 31, 2018	Dec. 31, 2017
Long-term debt
Long-term debt, gross	$ 375,000	$ 375,000	$ 375,000
Interest rate (as a percent)	7.00%	7.00%
Senior notes, maturity date			Aug. 01, 2023
Redemption period start date		Aug. 01, 2018
Percentage of issue price of principal amount	101.00%
Percentage of repurchase	100.00%
Minimum
Long-term debt
Notification period		30 days
Maximum
Long-term debt
Notification period		60 days

Long-Term Debt and Other Long-Term Liabilities - Schedule of Redemption Prices of Notes (Details)	12 Months Ended
	Dec. 31, 2018
7% Senior Notes due 2023 \| 2018
Long-term debt
Redemption price (as a percent)	105.25%
7% Senior Notes due 2023 \| 2019
Long-term debt
Redemption price (as a percent)	103.50%
7% Senior Notes due 2023 \| 2020
Long-term debt
Redemption price (as a percent)	101.75%
7% Senior Notes due 2023 \| 2021 and thereafter
Long-term debt
Redemption price (as a percent)	100.00%
6% Senior Notes due 2025 \| 2020
Long-term debt
Redemption price (as a percent)	104.50%
6% Senior Notes due 2025 \| 2021
Long-term debt
Redemption price (as a percent)	103.00%
6% Senior Notes due 2025 \| 2022
Long-term debt
Redemption price (as a percent)	101.50%
6% Senior Notes due 2025 \| 2023 and thereafter
Long-term debt
Redemption price (as a percent)	100.00%
6% Senior Notes due 2026 \| 2021
Long-term debt
Redemption price (as a percent)	104.50%
6% Senior Notes due 2026 \| 2022
Long-term debt
Redemption price (as a percent)	103.00%
6% Senior Notes due 2026 \| 2023
Long-term debt
Redemption price (as a percent)	101.50%
6% Senior Notes due 2026 \| 2024 and thereafter
Long-term debt
Redemption price (as a percent)	100.00%

Long-Term Debt and Other Long-Term Liabilities - 6% Senior Notes due 2025 - Additional Information (Details) - USD ($) $ in Thousands			12 Months Ended
	Sep. 13, 2017	Mar. 29, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Apr. 17, 2017
Long-term debt
Debt instrument interest rate terms			however, that in no event will LIBOR be less than zero or the base rate be less than 1.00% over the term of the Term Loan Facility or the Revolving Credit Facility.
Repayment of credit facility			$ 70,358	$ 236,953	$ 137,500
Payments under Term Loan				911,875	$ 4,250
Notes \| Prior to April 1, 2020
Long-term debt
Redemption price on notes redeemed (as a percent)		100.00%
Prior Revolving Credit Facility
Long-term debt
Repayment of credit facility	$ 78,000
Term Loan
Long-term debt
Payments under Term Loan	444,500
Isle of Capri
Long-term debt
Acquisition date			May 01, 2017
6% Senior Notes due 2025
Long-term debt
Long-term debt, gross	$ 500,000	$ 375,000	$ 875,000	$ 875,000
Interest rate (as a percent)		6.00%	6.00%
Senior notes, maturity date			Apr. 01, 2025
Escrow cash		$ 1,900
Debt instrument interest rate terms			The 6% Senior Notes will mature on April 1, 2025, with interest payable semi-annually in arrears on April 1 and October 1, commencing October 1, 2017.
Percentage of issue price of principal amount	105.50%
6% Senior Notes due 2025 \| Isle of Capri
Long-term debt
Acquisition date			May 01, 2017
6% Senior Notes Due 2025
Long-term debt
Interest rate (as a percent)						6.00%
Redemption period start date			Apr. 01, 2020
6% Senior Notes Due 2025 \| Prior to April 1, 2020
Long-term debt
Redemption price on notes redeemed (as a percent)		106.00%
Percentage of issue price of principal amount		101.00%
Percentage of repurchase		100.00%
6% Senior Notes Due 2025 \| Minimum
Long-term debt
Notification period			30 days
6% Senior Notes Due 2025 \| Maximum
Long-term debt
Notification period			60 days
6% Senior Notes Due 2025 \| Maximum \| Prior to April 1, 2020
Long-term debt
Redemption price (as a percent)		35.00%

Long-Term Debt and Other Long-Term Liabilities - 6% Senior Notes Due 2026 - Additional Information (Details) - USD ($) $ in Thousands			12 Months Ended
	Oct. 01, 2018	Sep. 20, 2018	Dec. 31, 2018
Long-term debt
Debt instrument interest rate terms			however, that in no event will LIBOR be less than zero or the base rate be less than 1.00% over the term of the Term Loan Facility or the Revolving Credit Facility.
Notes \| Prior to September 15, 2021
Long-term debt
Redemption price on notes redeemed (as a percent)		100.00%
6% Senior Notes due 2026
Long-term debt
Long-term debt, gross		$ 600,000	$ 600,000
Interest rate (as a percent)	6.00%	6.00%	6.00%
Senior notes, maturity year	2026		2026
Debt instrument interest rate terms			Interest on the 6% Senior Notes due 2026 will be paid semi-annually in arrears on March 15 and September 15, commencing March 15, 2019.
Redemption period start date			Sep. 15, 2021
Percentage of repurchase			100.00%
6% Senior Notes due 2026 \| Prior to September 15, 2021
Long-term debt
Redemption price on notes redeemed (as a percent)		106.00%
Percentage of issue price of principal amount		101.00%
6% Senior Notes due 2026 \| Minimum
Long-term debt
Notification period			30 days
6% Senior Notes due 2026 \| Maximum
Long-term debt
Notification period			60 days
6% Senior Notes due 2026 \| Maximum \| Prior to September 15, 2021
Long-term debt
Redemption price (as a percent)		35.00%

Long-Term Debt and Other Long-Term Liabilities - Credit Facility - Additional Information (Details) - USD ($)		12 Months Ended
	Sep. 13, 2017	Dec. 31, 2018	Dec. 31, 2017	Oct. 01, 2018	Apr. 17, 2017
Long-term debt
Debt instrument interest rate terms		however, that in no event will LIBOR be less than zero or the base rate be less than 1.00% over the term of the Term Loan Facility or the Revolving Credit Facility.
6% Senior Notes Due 2025
Long-term debt
Interest rate (as a percent)					6.00%
Isle Acquisition
Long-term debt
Acquisition date		May 01, 2017
Tropicana Entertainment Inc
Long-term debt
Acquisition date		Oct. 01, 2018
Revolving Credit Facility
Long-term debt
Credit facility					$ 300,000,000
Amount outstanding		$ 245,000,000
Available borrowing capacity		$ 242,300,000
Interest rate			4.60%
Credit facility maturity date		Apr. 17, 2022
Commitment fee on unused portion of the credit facility		0.50%
Credit facility extended maturity date		Oct. 01, 2023
Revolving Credit Facility \| LIBOR \| Minimum
Long-term debt
Spread on variable rate (as a percent)		1.75%
Revolving Credit Facility \| LIBOR \| Maximum
Long-term debt
Spread on variable rate (as a percent)		2.50%
Revolving Credit Facility \| Base rate \| Minimum
Long-term debt
Spread on variable rate (as a percent)		0.75%
Revolving Credit Facility \| Base rate \| Maximum
Long-term debt
Spread on variable rate (as a percent)		1.50%
Revolving Credit Facility \| Tropicana Entertainment Inc
Long-term debt
Credit facility				$ 500,000,000
Letter of Credit
Long-term debt
Amount outstanding		$ 12,700,000
Term Loan
Long-term debt
Credit facility					1,450,000,000
Escrow cash					$ 4,500,000
Amount outstanding		$ 956,800,000
Interest rate		4.30%
Credit facility maturity date		Apr. 17, 2024
Credit facility quarterly principal payments		$ 3,600,000
Credit facility, payment terms		The Company was required to make quarterly principal payments in an amount equal to $3.6 million on the Term Loan Facility on the last day of each fiscal quarter beginning on June 30, 2017 but satisfied this requirement as a result of the principal prepayment of $444.5 million on September 13, 2017 in conjunction with the issuance of the additional 6% Senior Notes due 2025.
Credit facility principal prepayment	$ 444,500,000
Term Loan \| LIBOR
Long-term debt
Spread on variable rate (as a percent)		2.25%
Term Loan \| Base rate
Long-term debt
Spread on variable rate (as a percent)		1.25%
New Revolving Credit Facility
Long-term debt
Maximum required leverage ratio, year one		650.00%
Maximum required leverage ratio, year two		600.00%
Maximum required leverage ratio, after year two		550.00%
Minimum required interest coverage ratio, year one		200.00%
Minimum required interest coverage ratio, year two		250.00%
Minimum required interest coverage ratio, after year two		275.00%

Long-Term Debt and Other Long-Term Liabilities - Lumiere Loan - Additional Information (Details) - USD ($) $ in Thousands			12 Months Ended
	Oct. 01, 2020	Oct. 01, 2019	Dec. 31, 2018	Oct. 01, 2018
Lumière Loan
Long-term debt
Loan amount to fund real property			$ 246,000
Tropicana Entertainment Inc
Long-term debt
Acquisition date			Oct. 01, 2018
Tropicana Entertainment Inc \| Gaming and Leisure Properties
Long-term debt
Loan amount to fund real property				$ 246,000
Tropicana Entertainment Inc \| Lumière Loan \| Scenario Forecast
Long-term debt
Interest rate	9.27%	9.09%
Tropicana Entertainment Inc \| Lumière Loan \| Minimum
Long-term debt
Loan amount to fund real property				246,000
Tropicana Entertainment Inc \| Lumière Loan \| Gaming and Leisure Properties
Long-term debt
Loan amount to fund real property				$ 246,000

Long-Term Debt and Other Long-Term Liabilities - Other Long-Term Liabilities - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Long-term debt
Property and equipment, net	$ 2,882,606	$ 1,502,817
Other long-term liabilities	59,014	28,579
Lease And Management Agreements \| Nemacolin Woodland Resort
Long-term debt
Property and equipment, net	1,200	4,200
Other long-term liabilities	2,400	4,500
Lease And Management Agreements \| Quad-Cities Waterfront Convention Center
Long-term debt
Property and equipment, net	11,700	11,900
Other long-term liabilities	$ 5,800	$ 12,500

Income Taxes - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Effective income tax rate	21.00%	35.00%	35.00%
Tax Cuts and Jobs Act of 2017 Accounting Complete	true
Decrease in net deferred tax liabilities		$ 111,900,000
Released valuation allowances	$ 500,000	5,200,000	$ 1,400,000
Federal jobs credit carryforwards	$ 9,000,000
Federal jobs credit carryforwards, expiration year	2024
Deferred tax liabilities	$ 200,010,000	$ 162,967,000
Limitation of loss carryforwards, minimum percentage for ownership change	50.00%
Percentage of shareholders holding change in ownership	5.00%
Change in ownership period by the stockholders	3 years
Operating loss carryforwards, limitations	Utilization of net operating loss, credit, and other carryforwards are subject to annual limitations due to ownership changes as provided by the Internal Revenue Code of 1986, as amended and similar state provisions. An ownership change is defined as a greater than 50% change in ownership by 5% stockholders in any threeyear period. Under Sections 382 and 383 of the Internal Revenue Code of 1986, as amended, the Company had a “change in ownership” event that limits the utilization of net operating loss, credit, and other carryforwards that were previously available to Isle and the Company to offset future taxable income. The “change in ownership” event for Isle and the Company occurred on May 1, 2017 in connection with the merger with Isle of Capri. This limitation resulted in no significant loss of federal attributes, but did result in significant loss of state attributes. The federal and state net operating loss credit and other carryforwards are stated net of limitations.
Unrecognized Tax Benefits	$ 0
Elgin and Tropicana
Deferred tax assets	0
Deferred tax liabilities	0
Federal
Net operating loss carryforwards	$ 40,700,000
Net operating loss, expiration year	2030
State
Net operating loss carryforwards	$ 361,200,000
Net operating loss, expiration year	2018

Income Taxes - Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Current:
Federal	$ 3,813	$ (3,959)	$ (12)
State	2,445	380	1,173
Local	304	(627)	739
Total current	6,562	(4,206)	1,900
Deferred:
Federal	16,561	(104,400)	12,748
State	17,574	(186)	(1,458)
Local	(310)	(7,977)	(89)
Total deferred	33,825	(112,563)	11,201
Income tax (benefit) expense	$ 40,387	$ (116,769)	$ 13,101

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Reconciliation of the expected statutory federal income tax provision
Federal statutory rate	21.00%	35.00%	35.00%
State and local taxes	3.70%	2.80%	4.30%
State tax rate adjustment	8.90%	5.70%
Stock compensation	(1.80%)	0.80%	(0.90%)
Goodwill impairment		(27.10%)
Transaction expenses		(10.70%)
Tax Cuts and Jobs Act	(1.60%)	264.00%
Valuation allowance	(0.30%)	(2.30%)	(3.60%)
Tax credits	(1.10%)	3.50%	(1.80%)
Other	1.00%	(2.60%)	1.80%
Effective income tax rate	29.80%	269.10%	34.80%

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Deferred tax assets:
Loss carryforwards	$ 31,880	$ 58,245
Accrued expenses	19,306	10,806
Credit carryforwards	8,986	19,838
Financing obligation to GLPI	126,368
Other	9,623	11,336
Deferred tax assets	196,163	100,225
Deferred tax liabilities:
Identified intangibles	(214,756)	(203,015)
Fixed assets	(149,491)	(28,375)
Other	(6,560)	(5,531)
Deferred tax liabilities	(370,807)	(236,921)
Valuation allowance	(25,366)	(26,271)
Net deferred tax liabilities	$ (200,010)	$ (162,967)

Employee Benefit Plans - Additional Information (Details)		3 Months Ended	12 Months Ended
	Feb. 29, 2020 USD ($)	Dec. 31, 2018 USD ($) Employee	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($) Employee	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Oct. 01, 2018 USD ($)
Matching Contributions				$ 2,400,000	$ 2,600,000	$ 1,500,000
Fair value of plan assets		$ 14,330,000		14,330,000			$ 14,283,000
Funded status of plan		1,680,000		1,680,000
Defined benefit plan net periodic benefit cost		780,000
Scenario Forecast
Defined benefit plan net periodic benefit cost			$ 3,100,000
VAPP
Funded status of plan		$ 1,700,000		$ 1,700,000
Defined contribution plan per hour amount paid to regular employees	$ 1.93
Defined benefit plan, assumptions, description				Actuarial assumptions used to determine the benefit obligations for the VAPP include an expected rate of return on assets of 5%, discount rate of 5.0% pre-retirement and a discount rate of 3.0% post-retirement, which, as defined in the Settlement Agreement, will result in no adjustments to the plan benefit.
VAPP \| Pre Retirement
Actuarial assumptions used to determine the benefit obligations discount rate		5.00%		5.00%
VAPP \| Post Retirement
Actuarial assumptions used to determine the benefit obligations discount rate		3.00%		3.00%
VAPP \| Tropicana Atlantic City Employees Variable Annuity Pension Plan
Number of Participants \| Employee		54		54
Mountaineer
Matching Contributions				$ 1,100,000	1,100,000	1,200,000
Race track and simulcast wagering handles - Percent				0.25%
Net win from gaming operations - Percent				1.00%
Excess Net Terminal Income threshold				$ 160,000,000
Scioto Downs
Fair value of plan assets		$ 1,000,000		1,000,000
Fair value of benefit obligations		700,000		700,000
Funded status of plan		$ 300,000		300,000
Cash contributions to pension plan				$ 0	$ 0	$ 0

Employee Benefit Plans - Net Periodic Benefit Costs (Details) $ in Thousands	3 Months Ended
	Dec. 31, 2018 USD ($)
Defined Benefit Plan Net Periodic Benefit Cost [Abstract]
Service costs	$ 808
Interest costs	150
Expected return on plan assets	(178)
Net periodic benefit cost	$ 780

Employee Benefit Plans - Projected Benefit Obligation, Change in Plan Assets and Funded Status (Details) $ in Thousands	3 Months Ended
	Dec. 31, 2018 USD ($)
Change in benefit obligations:
Projected benefit obligation beginning of period	$ 12,024
Service and interest cost during period	958
Expenses during period	(29)
Actuarial gain	(303)
Projected benefit obligation end of period	12,650
Change in plan assets:
Fair value of plan assets at beginning of period	14,283
Return on plan assets during period	76
Expenses during period	(29)
Fair value of plan assets at end of period	14,330
Funded status of plan	$ 1,680

Employee Benefit Plans - Future Estimated Expected Benefit Payments (Details) $ in Thousands	Dec. 31, 2018 USD ($)
Expected Benefit Payments
2019	$ 125
2020	172
2021	236
2022	346
2023	446
2024 through 2028	3,879
Total	$ 5,204

Stock-Based Compensation and Stockholder's Equity - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Nov. 30, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	$ 13,084,000	$ 6,322,000	$ 3,341,000
Reduction in income tax expense related to stock based compensation	4,800,000	1,000,000	800,000
Cash received from the exercise of stock options	154,000	2,900,000	$ 385,000
Common stock acquired value	$ 9,131,000
Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock repurchase program, authorized amount				$ 150,000,000
Common stock shares acquired	223,823
Common stock acquired value	$ 9,100,000
Common stock acquired average price per share	$ 40.80
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	3 years
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation expense	$ 18,000,000	$ 11,100,000
Recognition period of unrecognized compensation cost	1 year 4 months 28 days	11 months 1 day
Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance period	1 year
Minimum \| Plan 2015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Payout range as a percent of award target	0.00%
Minimum \| Performance Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	1 year
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance period	2 years
Maximum \| Plan 2015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Payout range as a percent of award target	200.00%
Maximum \| Performance Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	2 years

Stock-Based Compensation and Stockholder's Equity - Summary of RSU Activity Including Performance Awards and Converted Isle Awards (Details) - Restricted Stock Units (RSUs) - USD ($) $ / shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Restricted Stock Units
Outstanding at the beginning of the Period (in shares)	1,579,499	982,370	827,383
Granted (in shares)	574,753	600,206	410,694
Exchanged		860,557
Forfeited/Cancelled	(9,885)	(11,870)
Vested	(860,995)	(851,764)	(255,707)
Outstanding at the end of the Period (in shares)	1,283,372	1,579,499	982,370	827,383
Weighted-Average Grant Date Fair Value
Unvested outstanding as of beginning of period	$ 12,250	$ 6,450	$ 4,090
Granted	33,910	20,910	10,810
Exchanged		18,940
Forfeited	19,130	15,740
Vested	9,790	18,370	5,830
Unvested outstanding as of end of period	$ 23,930	$ 12,250	$ 6,450	$ 4,090
Weighted- Average Remaining Contractual Life
Weighted- Average Remaining Contractual Life (in years)	1 year 4 months 28 days	11 months 1 day	1 year 4 months 28 days	2 years 1 month 13 days
Aggregate Intrinsic Value
Aggregate Fair Value	$ 30,710	$ 19,350	$ 6,330	$ 3,400

Stock-Based Compensation and Stockholder's Equity - Summary of RSU Activity Including Performance Awards and Converted Isle Awards (Parenthetical) (Details) - Restricted Stock Units (RSUs) - shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
RSUs granted	574,753	600,206	410,694
Non-Employee Members of BOD
RSUs granted	32,284	46,282	34,920

Stock-Based Compensation and Stockholder's Equity - Schedule of Share-based Compensation, Stock Options Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Options
Outstanding at the beginning of the Period (in shares)	271,852	169,300	312,200
Exchanged (in shares)		1,351,168
Expired (in shares)	(15,776)	(62,871)	(10,000)
Exercised (in shares)	(120,120)	(1,185,745)	(132,900)
Outstanding at the end of the Period (in shares)	135,956	271,852	169,300
Weighted-Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)	$ 9.63	$ 9.94	$ 6.94
Exchanged (in dollars per share)		10.12
Expired (in dollars per share)	10.89	4.63	11.30
Exercised (in dollars per share)	9.09	10.45	2.89
Outstanding at the end of the period (in dollars per share)	$ 9.96	$ 9.63	$ 9.94

Stock-Based Compensation and Stockholder's Equity - Schedule of Share-based Compensation, Stock Options Activity (Parenthetical) (Details) - shares	Dec. 31, 2018	Dec. 31, 2017
Share Based Compensation [Abstract]
Options exercisable	119,505	228,143

Stock-Based Compensation and Stockholder's Equity - Summary of Restricted Stock Awards Activity (Details) - Restricted Stock Awards - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Restricted Stock
Outstanding at the beginning of the Period (in shares)	10,809
Exchanged		180,374
Forfeited/Cancelled		(1,602)
Vested	(10,809)	(167,963)
Outstanding at the end of the Period (in shares)		10,809
Weighted-Average Grant Date Fair Value
Unvested outstanding as of beginning of period	$ 19.13
Exchanged		$ 19.23
Forfeited		19.13
Vested	$ 19.13	19.24
Unvested outstanding as of end of period		$ 19.13

Earnings per Share - Schedule of Reconciliation of the Numerators and Denominators of the Basic and Diluted Net Income Per Share Computations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Net income available to common stockholders	$ (120)	$ 37,704	$ 36,796	$ 20,855	$ 88,938	$ 29,687	$ (46,190)	$ 945	$ 961	$ 9,450	$ 10,737	$ 3,379	$ 95,235	$ 73,380	$ 24,527
Shares outstanding:
Weighted average shares outstanding – basic	77,503,732	77,522,664	77,458,584	77,353,730	76,961,015	76,902,070	67,453,095	47,120,751	47,105,744	47,193,120	47,071,608	46,933,094	77,458,902	67,133,531	47,033,311
Weighted average shares outstanding – diluted	77,503,732	78,283,588	78,258,629	78,080,049	77,998,742	77,959,689	67,453,095	48,081,281	47,849,554	47,834,644	47,721,075	47,534,761	78,282,101	68,102,814	47,701,562
Net income per common share attributable to common stockholders – basic:	$ 0.00	$ 0.49	$ 0.48	$ 0.27	$ 1.16	$ 0.39	$ (0.68)	$ 0.02	$ 0.02	$ 0.20	$ 0.23	$ 0.07	$ 1.23	$ 1.09	$ 0.52
Net income per common share attributable to common stockholders – diluted:	$ 0.00	$ 0.48	$ 0.47	$ 0.27	$ 1.14	$ 0.38	$ (0.68)	$ 0.02	$ 0.02	$ 0.20	$ 0.22	$ 0.07	$ 1.22	$ 1.08	$ 0.51
Stock Options
Shares outstanding:
Effect of dilutive securities													119,418	98,294	96,515
Restricted Stock Units (RSUs)
Shares outstanding:
Effect of dilutive securities													703,781	870,989	571,736

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Fair Value Measurements - Additional Information (Details) shares in Millions	1 Months Ended
	Nov. 30, 2018 USD ($) shares	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value assets, Level 1 to Level 2 transfers amount		$ 0
Fair value assets, Level 2 to Level 1 transfers amount		0
Fair value assets, Level 1 to Level 3 transfers amount		0
Fair value assets, Level 2 To Level 3 transfers amount		0
Fair value assets, Level 3 to Level 2 transfers amount		0
Fair value assets, Level 3 To Level 1 transfers amount		0
Accrued Other Liabilities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Acquisition related contingent considerations		$ 500,000	$ 500,000
The Stars Group Inc. (“TSG”)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Agreement period	20 years
Number of common shares received under agreement \| shares	1.1
Additional value of common shares receivable under agreement upon exercise of first option by TSG	$ 5,000,000
Number of initial common shares received under agreement restricted \| shares	1.1
Restriction expiration month and year on transfer that may not be sold	2019-11
Level 3 Inputs \| Stock Volatility
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Financial instruments, measurement input		0.44
Level 3 Inputs \| Risk Free Rate
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Financial instruments, measurement input		0.027

Fair Value Measurements - Schedule of Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Assets:
Restricted cash and investments	$ 15,064	$ 9,886
Fair Value Recurring Basis
Assets:
Restricted cash and investments	39,956	13,153
Marketable securities	16,957	17,631
Fair Value Recurring Basis \| Level 1
Assets:
Restricted cash and investments	19,481	9,055
Marketable securities	9,515	7,906
Fair Value Recurring Basis \| Level 2
Assets:
Restricted cash and investments	4,467	4,098
Marketable securities	7,442	$ 9,725
Fair Value Recurring Basis \| Level 3
Assets:
Restricted cash and investments	$ 16,008

Fair Value Measurements - Schedule of Change in Restricted Investments Valued Using Level 3 Inputs (Details) - Restricted Investments $ in Thousands	12 Months Ended
	Dec. 31, 2018 USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Value of investment received	$ 18,595
Unrealized loss in restricted investments	(2,587)
Fair value at December 31, 2018	$ 16,008

Fair Value Measurements - Summary of Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Carrying Amount
Financial liabilities:
Capital leases	$ 590	$ 917
Carrying Amount \| 7% Senior Notes due 2023
Financial liabilities:
Long-term debt	368,925	367,854
Carrying Amount \| 6% Senior Notes due 2025
Financial liabilities:
Long-term debt	880,086	880,889
Carrying Amount \| 6% Senior Notes due 2026
Financial liabilities:
Long-term debt	580,370	0
Carrying Amount \| Term Loan
Financial liabilities:
Long-term debt	938,324	938,002
Carrying Amount \| Lumière Loan
Financial liabilities:
Long-term debt	246,000	0
Carrying Amount \| Other long-term debt
Financial liabilities:
Long-term debt	2,440	2,531
Carrying Amount \| Revolving Credit Facility
Financial liabilities:
Long-term debt	245,000	0
Fair Value
Financial liabilities:
Capital leases	590	917
Fair Value \| 7% Senior Notes due 2023
Financial liabilities:
Long-term debt	385,312	400,800
Fair Value \| 6% Senior Notes due 2025
Financial liabilities:
Long-term debt	840,000	914,375
Fair Value \| 6% Senior Notes due 2026
Financial liabilities:
Long-term debt	567,000	0
Fair Value \| Term Loan
Financial liabilities:
Long-term debt	916,088	956,750
Fair Value \| Lumière Loan
Financial liabilities:
Long-term debt	246,000	0
Fair Value \| Other long-term debt
Financial liabilities:
Long-term debt	2,440	2,531
Fair Value \| Revolving Credit Facility
Financial liabilities:
Long-term debt	$ 245,000	$ 0

Commitments and Contingencies - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018 USD ($) Employee Agreement	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Capital lease
Future minimum lease payments - 2019	$ 0.5
Future minimum lease payments - 2020	0.1
Future minimum lease payments - 2021	0.1
Future minimum lease payments - 2022	0.1
Interest reduced to arrive at present value of minimum lease payments	0.1
Present value of minimum lease payments	$ 0.5
Bond requirements
Entity number of employees \| Employee	18,700
Number of collective bargaining agreements \| Agreement	21
Number of employees covered under collective bargaining agreements \| Employee	3,400
Other Operating Leases
Future minimum payments under non-cancellable operating leases
Rental expense	$ 42.9	$ 28.2	$ 17.0

Commitments and Contingencies - Schedule of Future Minimum Rental Payments For Operating Leases (Details) - Shreveport Ground Operating Lease $ in Thousands	Dec. 31, 2018 USD ($)
Future minimum payments under non-cancellable operating leases
2019	$ 23,250
2020	20,172
2021	18,605
2022	17,467
2023	17,362
Thereafter	178,247
Total	$ 275,103

Related Parties - Additional Information (Details)	12 Months Ended
Related Parties - Additional Information (Details)	Dec. 31, 2018 USD ($) a	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Oct. 31, 2017
Related affiliates
Area of real property leased \| a	20
REI
Related affiliates
Percentage of outstanding shares owned	14.40%
Raymond J Poncial
Related affiliates
Financial advisory fees	$ 200,000	$ 200,000	$ 200,000
Donald L Carano
Related affiliates
Financial advisory fees		300,000	400,000
Gary Carano Family
Related affiliates
Related party transactions	$ 0	0	0
Hotel Casino Management, Inc. \| Raymond J Poncial \| Minimum
Related affiliates
Percentage of outstanding shares owned				5.00%
C. S. & Y. Associates
Related affiliates
Area of real property leased \| a	30,000
Lease expiration date	Jun. 30, 2057
Annual rent payable	$ 600,000	600,000	$ 600,000
Due to related parties	0	0
Due from related parties	$ 0	$ 0

Segment Information - Additional Information (Details)			12 Months Ended
Segment Information - Additional Information (Details)	May 01, 2017 Region segment	Apr. 30, 2017 Region	Dec. 31, 2018 segment
Segment Reporting [Abstract]
Number of geographic regions \| Region	4	3
Number of reportable segments \| segment	4		5

Segment Information - Summary of Reportable Segment (Details)	12 Months Ended
	Dec. 31, 2018
West Segment \| Eldorado Reno \| NEVADA
Segment Reporting Information [Line Items]
Property	Eldorado Reno
State	Nevada
West Segment \| Silver Legacy \| NEVADA
Segment Reporting Information [Line Items]
Property	Silver Legacy
State	Nevada
West Segment \| Circus Reno \| NEVADA
Segment Reporting Information [Line Items]
Property	Circus Reno
State	Nevada
West Segment \| MontBleu \| NEVADA
Segment Reporting Information [Line Items]
Property	MontBleu
Date Acquired	Oct. 01, 2018
State	Nevada
West Segment \| Laughlin \| NEVADA
Segment Reporting Information [Line Items]
Property	Laughlin
Date Acquired	Oct. 01, 2018
State	Nevada
West Segment \| Isle Black Hawk \| COLORADO
Segment Reporting Information [Line Items]
Property	Isle Black Hawk
Date Acquired	May 01, 2017
State	Colorado
West Segment \| Lady Luck Black Hawk \| COLORADO
Segment Reporting Information [Line Items]
Property	Lady Luck Black Hawk
Date Acquired	May 01, 2017
State	Colorado
East Segment \| Mountaineer \| WEST VIRGINIA
Segment Reporting Information [Line Items]
Property	Mountaineer
State	West Virginia
East Segment \| Trop AC \| NEW JERSEY
Segment Reporting Information [Line Items]
Property	Trop AC
Date Acquired	Oct. 01, 2018
State	New Jersey
East Segment \| Presque Isle Downs \| PENNSYLVANIA
Segment Reporting Information [Line Items]
Property	Presque Isle Downs
State	Pennsylvania
East Segment \| Nemacolin \| PENNSYLVANIA
Segment Reporting Information [Line Items]
Property	Nemacolin
Date Acquired	May 01, 2017
State	Pennsylvania
East Segment \| Scioto Downs \| OHIO
Segment Reporting Information [Line Items]
Property	Scioto Downs
State	Ohio
Central Segment \| Lumière \| Missouri
Segment Reporting Information [Line Items]
Property	Lumière
Date Acquired	Oct. 01, 2018
State	Missouri
Central Segment \| Evansville \| Indiana
Segment Reporting Information [Line Items]
Property	Evansville
Date Acquired	Oct. 01, 2018
State	Indiana
Central Segment \| Elgin \| ILLINOIS
Segment Reporting Information [Line Items]
Property	Elgin
Date Acquired	Aug. 07, 2018
State	Illinois
Midwest Segment \| Waterloo \| IOWA
Segment Reporting Information [Line Items]
Property	Waterloo
Date Acquired	May 01, 2017
State	Iowa
Midwest Segment \| Bettendorf \| IOWA
Segment Reporting Information [Line Items]
Property	Bettendorf
Date Acquired	May 01, 2017
State	Iowa
Midwest Segment \| Boonville \| Missouri
Segment Reporting Information [Line Items]
Property	Boonville
Date Acquired	May 01, 2017
State	Missouri
Midwest Segment \| Cape Girardeau \| Missouri
Segment Reporting Information [Line Items]
Property	Cape Girardeau
Date Acquired	May 01, 2017
State	Missouri
Midwest Segment \| Caruthersville \| Missouri
Segment Reporting Information [Line Items]
Property	Caruthersville
Date Acquired	May 01, 2017
State	Missouri
Midwest Segment \| Kansas City \| Missouri
Segment Reporting Information [Line Items]
Property	Kansas City
Date Acquired	May 01, 2017
State	Missouri
South Segment \| Pompano \| FLORIDA
Segment Reporting Information [Line Items]
Property	Pompano
Date Acquired	May 01, 2017
State	Florida
South Segment \| Eldorado Shreveport \| LOUISIANA
Segment Reporting Information [Line Items]
Property	Eldorado Shreveport
State	Louisiana
South Segment \| Lake Charles \| LOUISIANA
Segment Reporting Information [Line Items]
Property	Lake Charles
Date Acquired	May 01, 2017
State	Louisiana
South Segment \| Baton Rouge \| LOUISIANA
Segment Reporting Information [Line Items]
Property	Baton Rouge
Date Acquired	Oct. 01, 2018
State	Louisiana
South Segment \| Lula \| MISSISSIPPI
Segment Reporting Information [Line Items]
Property	Lula
Date Acquired	May 01, 2017
State	Mississippi
South Segment \| Vicksburg \| MISSISSIPPI
Segment Reporting Information [Line Items]
Property	Vicksburg
Date Acquired	May 01, 2017
State	Mississippi
South Segment \| Greenville \| MISSISSIPPI
Segment Reporting Information [Line Items]
Property	Greenville
Date Acquired	Oct. 01, 2018
State	Mississippi

Segment Information - Schedule of Capital Expenditures, Net of Reportable Segments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Capital Expenditures, Net	$ 147,415	$ 83,161	$ 43,173
Operating Segment \| West Segment
Segment Reporting Information [Line Items]
Capital Expenditures, Net	75,297	44,952	22,812
Operating Segment \| Midwest Segment
Segment Reporting Information [Line Items]
Capital Expenditures, Net	18,889	9,115
Operating Segment \| South Segment
Segment Reporting Information [Line Items]
Capital Expenditures, Net	18,149	7,672	5,842
Operating Segment \| East Segment
Segment Reporting Information [Line Items]
Capital Expenditures, Net	19,334	9,794	14,284
Operating Segment \| Central Segment
Segment Reporting Information [Line Items]
Capital Expenditures, Net	3,868
Corporate
Segment Reporting Information [Line Items]
Capital Expenditures, Net	$ 11,878	$ 11,628	$ 235

Segment Information - Schedule of Operating Data for Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues and expenses
Net operating revenues	$ 671,760	$ 487,253	$ 456,802	$ 440,192	$ 429,901	$ 472,878	$ 375,626	$ 202,393	$ 208,340	$ 243,049	$ 233,493	$ 215,583	$ 2,056,007	$ 1,480,798	$ 900,465
Depreciation and amortization													157,429	105,891	63,449
Operating (loss) income	86,726	91,769	77,414	54,194	29,756	81,493	(30,467)	14,028	13,095	27,739	29,585	18,281	310,103	94,810	88,700
Unallocated income and expenses:
Interest expense, net													(171,732)	(99,769)	(50,917)
Loss on early retirement of debt, net													(162)	(38,430)	(155)
Unrealized loss on restricted investment													(2,587)
(Provision) benefit for income taxes													(40,387)	116,769	(13,101)
Net income	$ (120)	$ 37,704	$ 36,796	$ 20,855	$ 88,938	$ 29,687	$ (46,190)	$ 945	$ 961	$ 9,450	$ 10,737	$ 3,379	95,235	73,380	24,527
Operating Segment \| West Segment
Revenues and expenses
Net operating revenues													483,532	410,319	327,541
Depreciation and amortization													40,131	26,950	20,221
Operating (loss) income													84,548	66,108	41,451
Operating Segment \| Midwest Segment
Revenues and expenses
Net operating revenues													397,008	268,879
Depreciation and amortization													33,083	20,997
Operating (loss) income													105,809	62,071
Operating Segment \| South Segment
Revenues and expenses
Net operating revenues													461,181	338,259	133,557
Depreciation and amortization													37,357	25,307	7,861
Operating (loss) income													64,851	3,680	23,378
Operating Segment \| East Segment
Revenues and expenses
Net operating revenues													571,272	462,835	439,367
Depreciation and amortization													27,913	30,517	34,887
Operating (loss) income													97,963	68,101	53,361
Operating Segment \| Central Segment
Revenues and expenses
Net operating revenues													142,485
Depreciation and amortization													13,583
Operating (loss) income													24,240
Corporate
Revenues and expenses
Net operating revenues													529	506
Depreciation and amortization													5,362	2,120	480
Operating (loss) income													$ (67,308)	$ (105,150)	$ (29,490)

Segment Information - Schedule of Balance Sheet Information for Reportable Segments (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	$ 5,911,462	$ 3,546,472
Corporate, Other & Eliminations
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	(1,737,383)	(910,472)
West Segment \| Operating Segment
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	1,710,375	1,278,062
Midwest Segment \| Operating Segment
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	1,245,521	1,188,758
South Segment \| Operating Segment
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	1,068,258	804,318
East Segment \| Operating Segment
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	2,166,730	$ 1,185,806
Central Segment \| Operating Segment
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	$ 1,457,961

Segment Information - Schedule of Goodwill by Reportable Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Beginning Balance	$ 747,106	$ 66,826
Acquisitions	280,256	715,196
Impairments	(9,815)	(34,916)
Finalization of Isle Purchase Price Accounting	(6,109)
Assets Held for Sale	(3,122)
Ending Balance	1,008,316	747,106
West Segment
Segment Reporting Information [Line Items]
Beginning Balance	152,775
Acquisitions	68,100	152,775
Finalization of Isle Purchase Price Accounting	(14)
Ending Balance	220,861	152,775
Midwest Segment
Segment Reporting Information [Line Items]
Beginning Balance	327,088
Acquisitions		327,088
Finalization of Isle Purchase Price Accounting	(4,343)
Ending Balance	322,745	327,088
South Segment
Segment Reporting Information [Line Items]
Beginning Balance	200,417
Acquisitions	24,300	235,333
Impairments	(9,815)	(34,916)
Finalization of Isle Purchase Price Accounting	(1,752)
Ending Balance	213,150	200,417
East Segment
Segment Reporting Information [Line Items]
Beginning Balance	66,826	66,826
Acquisitions	113,782
Assets Held for Sale	(3,122)
Ending Balance	177,486	$ 66,826
Central Segment
Segment Reporting Information [Line Items]
Acquisitions	74,074
Ending Balance	$ 74,074

Consolidating Condensed Financial Information - Additional Information (Details)	Dec. 31, 2018	Oct. 01, 2018	Sep. 20, 2018	Mar. 29, 2017	Jul. 23, 2015
7% Senior Notes Due 2023
Condensed Financial Statements Captions [Line Items]
Interest rate (as a percent)	7.00%				7.00%
6% Senior Notes due 2025
Condensed Financial Statements Captions [Line Items]
Interest rate (as a percent)	6.00%			6.00%
6% Senior Notes due 2026
Condensed Financial Statements Captions [Line Items]
Interest rate (as a percent)	6.00%	6.00%	6.00%

Consolidating Condensed Financial Information - Consolidating Condensed Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Condensed Balance Sheet
Current assets	$ 573,196	$ 251,032
Property and equipment, net	2,882,606	1,502,817
Other assets	2,455,660	1,792,623
Total assets	5,911,462	3,546,472
Current liabilities	402,177	223,751
Long-term financing obligation to GLPI	959,835
Long-term debt, less current maturities	3,261,273	2,189,578
Deferred income tax liabilities	200,010	162,967
Other accrued liabilities	59,014	28,579
Stockholders’ equity	1,029,153	941,597	$ 295,969	$ 268,460
Total liabilities and stockholders’ equity	5,911,462	3,546,472
Reportable Legal Entities \| Eldorado Resorts, Inc. (Parent Obligor)
Condensed Balance Sheet
Current assets	48,268	27,572
Intercompany receivables		274,148
Investments in subsidiaries	3,648,961	2,437,287
Property and equipment, net	18,555	12,042
Other assets	35,072	37,458
Total assets	3,750,856	2,788,507
Current liabilities	48,579	28,677
Intercompany payables	10,873
Long-term debt, less current maturities	2,640,046	1,814,185
Other accrued liabilities	22,206	4,127
Stockholders’ equity	1,029,152	941,518
Total liabilities and stockholders’ equity	3,750,856	2,788,507
Reportable Legal Entities \| Guarantor Subsidiaries
Condensed Balance Sheet
Current assets	497,309	201,321
Intercompany receivables	11,885
Property and equipment, net	2,859,271	1,483,473
Other assets	2,425,699	1,764,291
Total assets	5,794,164	3,449,085
Current liabilities	328,319	169,348
Intercompany payables		283,640
Long-term financing obligation to GLPI	959,835
Long-term debt, less current maturities	621,193	375,000
Deferred income tax liabilities	231,795	199,376
Other accrued liabilities	36,808	19,624
Stockholders’ equity	3,616,214	2,402,097
Total liabilities and stockholders’ equity	5,794,164	3,449,085
Reportable Legal Entities \| Non-Guarantor Subsidiaries
Condensed Balance Sheet
Current assets	27,619	22,139
Intercompany receivables	23,988	34,492
Property and equipment, net	4,780	7,302
Other assets	26,674	27,283
Total assets	83,061	91,216
Current liabilities	25,279	25,726
Intercompany payables	25,000	25,000
Long-term debt, less current maturities	34	393
Other accrued liabilities		4,828
Stockholders’ equity	32,748	35,269
Total liabilities and stockholders’ equity	83,061	91,216
Consolidating and Eliminating Entries
Condensed Balance Sheet
Intercompany receivables	(35,873)	(308,640)
Investments in subsidiaries	(3,648,961)	(2,437,287)
Other assets	(31,785)	(36,409)
Total assets	(3,716,619)	(2,782,336)
Intercompany payables	(35,873)	(308,640)
Deferred income tax liabilities	(31,785)	(36,409)
Stockholders’ equity	(3,648,961)	(2,437,287)
Total liabilities and stockholders’ equity	$ (3,716,619)	$ (2,782,336)

Consolidating Condensed Financial Information - Consolidating Condensed Statements of Income (Details) - USD ($) $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues:
Net revenues	$ 671,760	$ 487,253	$ 456,802	$ 440,192	$ 429,901	$ 472,878	$ 375,626	$ 202,393	$ 208,340	$ 243,049	$ 233,493	$ 215,583	$ 2,056,007	$ 1,480,798	$ 900,465
Operating expenses:
Marketing and promotions													106,161	83,174	40,890
General and administrative													349,598	241,037	130,720
Corporate													46,632	30,739	19,880
Impairment charges													13,602	38,016
Depreciation and amortization													157,429	105,891	63,449
Total operating expenses	573,696	396,220	376,439	382,659	416,211	389,273	320,480	186,561	191,290	210,584	203,016	196,855	1,729,014	1,312,525	801,745
Loss on sale of asset or disposal of property and equipment													(835)	(319)	(836)
Proceeds from terminated sale													5,000	20,000
Transaction expenses													(20,842)	(92,777)	(9,184)
Equity in loss of unconsolidated affiliate													(213)	(367)
Operating (loss) income	86,726	91,769	77,414	54,194	29,756	81,493	(30,467)	14,028	13,095	27,739	29,585	18,281	310,103	94,810	88,700
Interest expense, net													(171,732)	(99,769)	(50,917)
Loss on early retirement of debt, net													(162)	(38,430)	(155)
Unrealized loss													(2,587)
Net income (loss) before income taxes													135,622	(43,389)	37,628
Income tax benefit (provision)													(40,387)	116,769	(13,101)
Net income	$ (120)	$ 37,704	$ 36,796	$ 20,855	$ 88,938	$ 29,687	$ (46,190)	$ 945	$ 961	$ 9,450	$ 10,737	$ 3,379	95,235	73,380	24,527
Gaming and Pari-mutuel Commissions
Revenues:
Net revenues													1,553,391	1,099,027	600,015
Operating expenses:
Operating expenses													749,289	561,089	352,220
Non-gaming
Revenues:
Net revenues													502,616	381,771	300,450
Operating expenses:
Operating expenses													306,303	252,579	194,586
Reportable Legal Entities \| Eldorado Resorts, Inc. (Parent Obligor)
Revenues:
Net revenues													11
Operating expenses:
Corporate													42,466	31,620	19,560
Management fee													(25,340)	(31,620)	(19,841)
Depreciation and amortization													3,655	1,030	454
Total operating expenses													20,781	1,030	173
Loss on sale of asset or disposal of property and equipment														(20)
Proceeds from terminated sale													5,000
Transaction expenses													(11,369)	(70,865)	(9,184)
Operating (loss) income													(27,139)	(71,915)	(9,357)
Interest expense, net													(115,745)	(73,448)	(24,562)
Loss on early retirement of debt, net													(162)	(38,430)	(155)
Unrealized loss													(2,587)
Subsidiary income (loss)													201,353	205,251	45,372
Net income (loss) before income taxes													55,720	21,458	11,298
Income tax benefit (provision)													39,515	51,922	13,229
Net income													95,235	73,380	24,527
Reportable Legal Entities \| Guarantor Subsidiaries
Revenues:
Net revenues													2,015,251	1,451,203	900,110
Operating expenses:
Marketing and promotions													104,402	80,893	40,886
General and administrative													342,185	235,905	130,720
Corporate													2,405	(4,318)	320
Impairment charges													9,815	38,016
Management fee													25,340	31,620	19,841
Depreciation and amortization													153,396	104,454	62,995
Total operating expenses													1,669,958	1,282,937	801,568
Loss on sale of asset or disposal of property and equipment													(828)	(299)	(836)
Proceeds from terminated sale														20,000
Transaction expenses													(9,473)	(21,912)
Equity in loss of unconsolidated affiliate													(213)	(367)
Operating (loss) income													334,779	165,688	97,706
Interest expense, net													(54,226)	(25,221)	(26,355)
Net income (loss) before income taxes													280,553	140,467	71,351
Income tax benefit (provision)													(80,474)	69,787	(26,207)
Net income													200,079	210,254	45,144
Reportable Legal Entities \| Non-Guarantor Subsidiaries
Revenues:
Net revenues													40,745	29,595	355
Operating expenses:
Marketing and promotions													1,759	2,281	4
General and administrative													7,413	5,132
Corporate													1,761	3,437
Impairment charges													3,787
Depreciation and amortization													378	407
Total operating expenses													38,275	28,558	4
Loss on sale of asset or disposal of property and equipment													(7)
Operating (loss) income													2,463	1,037	351
Interest expense, net													(1,761)	(1,100)
Net income (loss) before income taxes													702	(63)	351
Income tax benefit (provision)													572	(4,940)	(123)
Net income													1,274	(5,003)	228
Reportable Legal Entities \| Gaming and Pari-mutuel Commissions \| Guarantor Subsidiaries
Revenues:
Net revenues													1,522,572	1,076,957	599,750
Operating expenses:
Operating expenses													728,709	546,207	352,220
Reportable Legal Entities \| Gaming and Pari-mutuel Commissions \| Non-Guarantor Subsidiaries
Revenues:
Net revenues													30,819	22,070	265
Operating expenses:
Operating expenses													20,580	14,882
Reportable Legal Entities \| Non-gaming \| Eldorado Resorts, Inc. (Parent Obligor)
Revenues:
Net revenues													11
Reportable Legal Entities \| Non-gaming \| Guarantor Subsidiaries
Revenues:
Net revenues													492,679	374,246	300,360
Operating expenses:
Operating expenses													303,706	250,160	194,586
Reportable Legal Entities \| Non-gaming \| Non-Guarantor Subsidiaries
Revenues:
Net revenues													9,926	7,525	90
Operating expenses:
Operating expenses													2,597	2,419
Consolidating and Eliminating Entries
Operating expenses:
Subsidiary income (loss)													(201,353)	(205,251)	(45,372)
Net income (loss) before income taxes													(201,353)	(205,251)	(45,372)
Net income													$ (201,353)	$ (205,251)	$ (45,372)

Consolidating Condensed Financial Information - Consolidating Condensed Statement of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Condensed Statement of Cash Flows
Net cash (used in) provided by operating activities	$ 323,280	$ 129,886	$ 95,372
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment, net	(147,415)	(83,161)	(43,173)
Purchase of restricted investments	(8,008)
Proceeds from sale of property and equipment	1,002	135	1,560
Net cash (used in) provided by business combinations	(1,113,227)	(1,313,051)	(194)
Investments in and loans to unconsolidated affiliates	(581)	(604)
Net cash used in investing activities	(1,268,229)	(1,396,681)	(41,807)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of long-term debt	846,000	2,325,000
Borrowings under Revolving Credit Facility	315,358	207,953	73,000
Payments under long-term debt		(911,875)	(4,250)
Payments under Revolving Credit Facility	(70,358)	(236,953)	(137,500)
Principal payments on capital leases			(4,288)
Debt premium proceeds		27,500
Debt issuance costs	(25,758)	(51,526)	(4,288)
Taxes paid related to net share settlement of equity awards	(11,708)	(11,365)	(744)
Proceeds from exercise of stock options	154	2,900	385
Purchase of treasury stock	(9,131)
Payments on other long-term payables	(666)	(533)	(274)
Net cash provided by (used in) financing activities	1,043,891	1,351,101	(73,671)
Increase (decrease) in cash, cash equivalents and restricted cash	98,942	84,306	(20,106)
Cash, cash equivalents and restricted cash, beginning of period	147,749	63,443	83,549
Cash, cash equivalents and restricted cash, end of period	246,691	147,749	63,443
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO AMOUNTS REPORTED WITHIN THE CONDENSED CONSOLIDATED BALANCE SHEETS:
Cash and cash equivalents	230,752	134,596	61,029
Restricted cash	8,884	3,267	2,414
Restricted and escrow cash included in other noncurrent assets	7,055	9,886
Cash, cash equivalents and restricted cash, end of period	246,691	147,749	63,443
Reportable Legal Entities \| Eldorado Resorts, Inc. (Parent Obligor)
Condensed Statement of Cash Flows
Net cash (used in) provided by operating activities	(65,836)	(44,737)	(16,337)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment, net	(8,467)	(11,073)	133
Net cash (used in) provided by business combinations	(1,010,175)	(1,355,370)
Net cash used in investing activities	(1,018,642)	(1,366,443)	133
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of long-term debt	600,000	2,325,000
Borrowings under Revolving Credit Facility	315,358	207,953	73,000
Payments under long-term debt		(911,875)	(4,250)
Payments under Revolving Credit Facility	(70,358)	(236,953)	(137,500)
Principal payments on capital leases			(4,288)
Net proceeds from (payments to) related parties	285,026	72,011	90,353
Debt premium proceeds		27,500
Debt issuance costs	(25,758)	(51,526)
Taxes paid related to net share settlement of equity awards	(11,708)	(11,365)	(744)
Proceeds from exercise of stock options	154	2,900	385
Purchase of treasury stock	(9,131)
Payments on other long-term payables	(92)	(43)
Net cash provided by (used in) financing activities	1,083,491	1,423,602	16,956
Increase (decrease) in cash, cash equivalents and restricted cash	(987)	12,422	752
Cash, cash equivalents and restricted cash, beginning of period	13,831	1,409	657
Cash, cash equivalents and restricted cash, end of period	12,844	13,831	1,409
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO AMOUNTS REPORTED WITHIN THE CONDENSED CONSOLIDATED BALANCE SHEETS:
Cash and cash equivalents	12,127	13,202
Restricted cash	717	629
Cash, cash equivalents and restricted cash, end of period	12,844	13,831	1,409
Reportable Legal Entities \| Guarantor Subsidiaries
Condensed Statement of Cash Flows
Net cash (used in) provided by operating activities	387,576	170,553	111,608
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment, net	(136,102)	(70,449)	(43,305)
Proceeds from sale of property and equipment	1,002	135	1,560
Net cash (used in) provided by business combinations	(103,052)	37,103	(194)
Investments in and loans to unconsolidated affiliates	(581)	(604)
Net cash used in investing activities	(238,733)	(33,815)	(41,939)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of long-term debt	246,000
Net proceeds from (payments to) related parties	(290,312)	(79,634)	(90,486)
Payments on other long-term payables	(278)	(318)	(274)
Net cash provided by (used in) financing activities	(44,590)	(79,952)	(90,760)
Increase (decrease) in cash, cash equivalents and restricted cash	104,253	56,786	(21,091)
Cash, cash equivalents and restricted cash, beginning of period	118,419	61,633	82,724
Cash, cash equivalents and restricted cash, end of period	222,672	118,419	61,633
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO AMOUNTS REPORTED WITHIN THE CONDENSED CONSOLIDATED BALANCE SHEETS:
Cash and cash equivalents	208,697	114,925
Restricted cash	7,920	2,495
Restricted and escrow cash included in other noncurrent assets	6,055	999
Cash, cash equivalents and restricted cash, end of period	222,672	118,419	61,633
Reportable Legal Entities \| Non-Guarantor Subsidiaries
Condensed Statement of Cash Flows
Net cash (used in) provided by operating activities	1,540	4,070	101
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment, net	(2,846)	(1,639)	(1)
Purchase of restricted investments	(8,008)
Net cash (used in) provided by business combinations		5,216
Net cash used in investing activities	(10,854)	3,577	(1)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net proceeds from (payments to) related parties	5,286	7,623	133
Payments on other long-term payables	(296)	(172)
Net cash provided by (used in) financing activities	4,990	7,451	133
Increase (decrease) in cash, cash equivalents and restricted cash	(4,324)	15,098	233
Cash, cash equivalents and restricted cash, beginning of period	15,499	401	168
Cash, cash equivalents and restricted cash, end of period	11,175	15,499	401
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO AMOUNTS REPORTED WITHIN THE CONDENSED CONSOLIDATED BALANCE SHEETS:
Cash and cash equivalents	9,928	6,469
Restricted cash	247	143
Restricted and escrow cash included in other noncurrent assets	1,000	8,887
Cash, cash equivalents and restricted cash, end of period	$ 11,175	$ 15,499	$ 401

Quarterly Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended												12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Net revenues	$ 671,760	$ 487,253	$ 456,802	$ 440,192	$ 429,901	$ 472,878	$ 375,626	$ 202,393	$ 208,340	$ 243,049	$ 233,493	$ 215,583	$ 2,056,007	$ 1,480,798	$ 900,465
Operating expenses	573,696	396,220	376,439	382,659	416,211	389,273	320,480	186,561	191,290	210,584	203,016	196,855	1,729,014	1,312,525	801,745
Operating income (loss)	86,726	91,769	77,414	54,194	29,756	81,493	(30,467)	14,028	13,095	27,739	29,585	18,281	310,103	94,810	88,700
Net income (loss)	$ (120)	$ 37,704	$ 36,796	$ 20,855	$ 88,938	$ 29,687	$ (46,190)	$ 945	$ 961	$ 9,450	$ 10,737	$ 3,379	$ 95,235	$ 73,380	$ 24,527
Earnings Per Share, Basic [Abstract]
Basic net income (loss) per common share	$ 0.00	$ 0.49	$ 0.48	$ 0.27	$ 1.16	$ 0.39	$ (0.68)	$ 0.02	$ 0.02	$ 0.20	$ 0.23	$ 0.07	$ 1.23	$ 1.09	$ 0.52
Weighted average shares outstanding—basic	77,503,732	77,522,664	77,458,584	77,353,730	76,961,015	76,902,070	67,453,095	47,120,751	47,105,744	47,193,120	47,071,608	46,933,094	77,458,902	67,133,531	47,033,311
Earnings Per Share, Diluted [Abstract]
Diluted net income (loss) per common share	$ 0.00	$ 0.48	$ 0.47	$ 0.27	$ 1.14	$ 0.38	$ (0.68)	$ 0.02	$ 0.02	$ 0.20	$ 0.22	$ 0.07	$ 1.22	$ 1.08	$ 0.51
Weighted average shares outstanding—diluted	77,503,732	78,283,588	78,258,629	78,080,049	77,998,742	77,959,689	67,453,095	48,081,281	47,849,554	47,834,644	47,721,075	47,534,761	78,282,101	68,102,814	47,701,562

Quarterly Data (Unaudited) (Parenthetical) (Details) - shares	3 Months Ended
	Dec. 31, 2018	Jun. 30, 2017
Stock Options
Quarterly Data [Line Items]
Anti-dilutive shares excluded from calculation of Weighted average shares outstanding – diluted	100,091	78,435
Restricted Stock Units (RSUs)
Quarterly Data [Line Items]
Anti-dilutive shares excluded from calculation of Weighted average shares outstanding – diluted	905,420	937,661

Schedule II - Valuation and Qualifying Accounts (Details) - Allowance for Doubtful Accounts - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Balance at Beginning of Period	$ 1,220	$ 1,221	$ 2,074
Acquisition	2,394	461
Additions	1,407	531	161
Deductions	1,347	993	1,014
Balance at End of Period	$ 3,674	$ 1,220	$ 1,221

Schedule II - Valuation and Qualifying Accounts (Parenthetical) (Details) - Allowance for Doubtful Accounts - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Uncollectible accounts written off	$ 100,000	$ 700,000
Uncollectible accounts recoveries			$ 0