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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2019	May 03, 2019
Document And Entity Information [Abstract]
Entity Registrant Name	Eldorado Resorts, Inc.
Entity Central Index Key	0001590895
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		77,472,148
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Trading Symbol	ERI

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
CURRENT ASSETS:
Cash and cash equivalents	$ 216,883	$ 230,752
Restricted cash and investments	25,236	24,892
Marketable securities	16,899	16,957
Accounts receivable, net	65,604	60,169
Due from affiliates	3,130	327
Inventories	20,775	20,595
Income taxes receivable	2,009	15,731
Prepaid expenses	32,454	48,002
Assets held for sale		155,771
Total current assets	382,990	573,196
Investment in and advances to unconsolidated affiliates	132,240	1,892
Property and equipment, net	2,870,120	2,882,606
Gaming licenses and other intangibles, net	1,354,364	1,362,006
Goodwill	1,008,316	1,008,316
Other assets, net	366,488	83,446
Total assets	6,114,518	5,911,462
CURRENT LIABILITIES:
Current portion of long-term debt	415	462
Accounts payable	89,932	58,524
Accrued property, gaming and other taxes	53,847	51,931
Accrued payroll and related	70,501	87,332
Accrued interest	39,052	42,780
Income taxes payable	12	47,475
Accrued other liabilities	135,585	102,982
Liabilities related to assets held for sale		10,691
Total current liabilities	389,344	402,177
Long-term financing obligation to GLPI	962,505	959,835
Long-term debt, less current portion	3,057,151	3,261,273
Deferred income taxes	204,022	200,010
Other long-term liabilities	438,232	59,014
Total liabilities	5,051,254	4,882,309
Commitments and contingencies (Note 14)
STOCKHOLDERS' EQUITY:
Common stock, 200,000,000 shares authorized, 77,439,165 and 77,215,066 issued and outstanding, net of treasury shares, par value $0.00001 as of March 31, 2019 and December 31, 2018, respectively	1	1
Paid-in capital	748,702	748,076
Retained earnings	323,691	290,206
Treasury stock at cost, 223,823 shares held at March 31, 2019 and December 31, 2018	(9,131)	(9,131)
Accumulated other comprehensive income	1	1
Total stockholders’ equity	1,063,264	1,029,153
Total liabilities and stockholders’ equity	$ 6,114,518	$ 5,911,462

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
Statement Of Financial Position [Abstract]
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	77,439,165	77,215,066
Common stock, shares outstanding	77,439,165	77,215,066
Common stock, par value	$ 0.00001	$ 0.00001
Treasury stock, shares	223,823	223,823

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
REVENUES:
Net revenues	$ 635,823	$ 440,192
EXPENSES:
Other	11,249	7,405
Marketing and promotions	32,301	21,301
General and administrative	119,888	74,202
Corporate	16,754	11,569
Impairment charges	958	9,815
Depreciation and amortization	57,757	31,534
Total operating expenses	533,248	382,659
Gain (loss) on sale or disposal of property and equipment	22,318	(706)
Transaction expenses	(1,894)	(2,548)
Income (loss) from unconsolidated affiliates	605	(85)
Operating (loss) income	123,604	54,194
OTHER EXPENSE:
Interest expense, net	(73,510)	(31,251)
Unrealized loss on restricted investments	(1,460)
Total other expense	(74,970)	(31,251)
Income before income taxes	48,634	22,943
Provision for income taxes	(10,405)	(2,088)
Net income	$ 38,229	$ 20,855
Net income per share of common stock:
Basic	$ 0.49	$ 0.27
Diluted	$ 0.49	$ 0.27
Weighted average number of shares outstanding:
Weighted average basic shares outstanding	77,567,147	77,353,730
Weighted average diluted shares outstanding	78,589,110	78,080,049
Casino and pari-mutuel Commissions
REVENUES:
Net revenues	$ 470,851	$ 343,528
EXPENSES:
Cost of goods and services	210,306	169,551
Food and Beverage
REVENUES:
Net revenues	75,209	52,198
Net revenues	75,209	52,198
EXPENSES:
Cost of goods and services	60,385	44,776
Hotel
REVENUES:
Net revenues	64,691	30,741
Net revenues	64,691	30,741
EXPENSES:
Cost of goods and services	23,650	12,506
Other
REVENUES:
Net revenues	25,072	13,725
Net revenues	$ 25,072	$ 13,725

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 38,229	$ 20,855
Other comprehensive income, net of tax:
Comprehensive income, net of tax	$ 38,229	$ 20,855

- 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 STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income	Treasury Stock
Beginning Balance at Dec. 31, 2017	$ 941,597		$ 746,547	$ 194,971	$ 79
Beginning Balance (in shares) at Dec. 31, 2017		76,825,966
Issuance of restricted stock units	3,679		3,679
Issuance of restricted stock units (in shares)		645,047
Net income	20,855			20,855
Shares withheld related to net share settlement of stock awards	(7,502)		(7,502)
Shares withheld related to net share settlement of stock awards (in shares)		(229,898)
Ending Balance at Mar. 31, 2018	958,629		742,724	215,826	79
Ending Balance (in shares) at Mar. 31, 2018		77,241,115
Beginning Balance at Dec. 31, 2018	1,029,153	$ 1	748,076	290,206	1	$ (9,131)
Beginning Balance (in shares) at Dec. 31, 2018		77,438,889				223,823
Cumulative change in accounting principle, net of tax	(4,744)			(4,744)
Issuance of restricted stock units	4,948		4,948
Issuance of restricted stock units (in shares)		330,641
Net income	38,229			38,229
Shares withheld related to net share settlement of stock awards	(4,322)		(4,322)
Shares withheld related to net share settlement of stock awards (in shares)		(106,542)
Ending Balance at Mar. 31, 2019	$ 1,063,264	$ 1	$ 748,702	$ 323,691	$ 1	$ (9,131)
Ending Balance (in shares) at Mar. 31, 2019		77,662,988				223,823

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

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+ Details

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 38,229	$ 20,855
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	57,757	31,534
Amortization of deferred financing costs, discount and debt premium	4,547	1,446
Deferred revenue	(1,397)
Unrealized loss on restricted investment	1,460
Stock compensation expense	4,948	3,679
(Gain) loss on sale or disposal of property and equipment	(22,318)	706
Impairment charges	958	9,815
Provision for deferred income taxes	(5,224)	(1,450)
Other	215	483
Change in operating assets and liabilities:
Accounts receivable	(3,933)	9,491
Prepaid expenses and other assets	14,331	2,042
Accrued interest	(6,562)	7,539
Income taxes payable	(26,398)	4,199
Accounts payable and accrued other liabilities	(1,621)	(15,232)
Net cash provided by operating activities	65,440	78,007
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment, net	(38,360)	(21,271)
Purchase of restricted investments	(80)
Proceeds from sale of property and equipment, net of cash sold	167,945	150
Net cash provided by (used in) investing activities	129,505	(21,121)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net payments under Revolving Credit Facility	(205,000)
Debt issuance costs	(386)	(304)
Taxes paid related to net share settlement of equity awards	(4,322)	(7,502)
Payments on other long-term payables	(118)	(170)
Net cash used in financing activities	(209,826)	(7,976)
(Decrease) Increase in cash, cash equivalents and restricted cash	(14,881)	48,910
Cash, cash equivalents and restricted cash, beginning of period	246,691	147,749
Cash, cash equivalents and restricted cash, end of period	231,810	196,659
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO AMOUNTS REPORTED WITHIN THE CONDENSED CONSOLIDATED BALANCE SHEETS:
Cash and cash equivalents	216,883	183,138
Restricted cash	7,892	3,659
Restricted and escrow cash included in other noncurrent assets	7,035	9,862
Cash, cash equivalents and restricted cash, end of period	231,810	196,659
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest paid	62,885	21,814
Income taxes paid , net	38,898	186
NON-CASH FINANCING ACTIVITIES:
Payables for capital expenditures	$ 23,048	$ 7,642

Organization and Basis of Presentation

3 Months Ended

Mar. 31, 2019

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Organization and Basis of Presentation

Note 1. Organization and Basis of Presentation

Organization

The accompanying unaudited 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 acquired Mountaineer, Presque Isle Downs and Scioto Downs in September 2014 pursuant to a merger with MTR Gaming Group, Inc. (“MTR Gaming”) and in November 2015 it acquired Circus Reno and the interests in the Silver Legacy that it did not own prior to such date.

On May 1, 2017, the Company completed its acquisition of Isle of Capri Casinos, Inc. pursuant to the Agreement and Plan of Merger dated as of September 19, 2016 with Isle of Capri Casinos, Inc. (“Isle” or “Isle of Capri”). As a result of the Isle Merger, Isle became a wholly-owned subsidiary of ERI.

On August 7, 2018, the Company completed its acquisition of the outstanding partnership interests of Elgin Riverboat Resort – Riverboat Casino d/b/a Grand Victoria Casino, an Illinois partnership (“Elgin”), the owner of Grand Victoria Casino, located in Elgin, Illinois (the “Elgin Acquisition”). On October 1, 2018, we completed our acquisition of Tropicana Entertainment, Inc. (“Tropicana”), adding seven properties to our portfolio (the “Tropicana Acquisition”).

On January 11, 2019 and March 8, 2019, respectively, the Company closed on its sales of Presque Isle Downs & Casino (“Presque Isle Downs”) and Lady Luck Casino Nemacolin (“Nemacolin”), which are both located in Pennsylvania.

As of March 31, 2019, we 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;

•

Eldorado Gaming Scioto Downs (“Scioto Downs”)—A modern “racino” offering 2,238 video lottery terminals (“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;

•

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 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 1,401 slot machines, 48 table games, 10 poker tables and 494 hotel rooms;

•

Tropicana Laughlin Hotel and Casino (“Laughlin”)—A casino in Laughlin, Nevada that includes 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 474 slot machines, 17 table games and 438 hotel rooms;

•

Trop Casino Greenville (“Greenville”)—A landside gaming facility located in Greenville, Mississippi with 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 773 slot machines, 14 table games and 288 hotel rooms; and

•

Grand Victoria Casino (“Elgin”)—A casino located in Elgin, Illinois featuring 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.

Reclassifications

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

Basis of Presentation

The accompanying unaudited consolidated financial statements of the Company and its subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information with the instructions for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by US GAAP for complete financial statements. In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments, all of which are normal and recurring, considered necessary for a fair presentation and have been included herein. The results of operations for these interim periods are not necessarily indicative of the operating results for other quarters, for the full year or any future period.

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 the Elgin and Tropicana acquisitions, the Company’s principal operating activities occurred in four geographic regions and reportable segments. Following the Elgin and Tropicana acquisitions, a fifth segment, Central, was added. The reportable segments are based on the similar characteristics of the operating segments within the regions in which they operate: West, Midwest, South, East, and Central. (See Note 16 for a listing of properties included in each segment).

The presentation of information herein for periods prior to our acquisitions of Elgin and Tropicana and after our acquisitions of Elgin and Tropicana are not fully comparable because the results of operations for Elgin and Tropicana are not included for periods prior to August 7, 2018 and October 1, 2018, respectively. Additionally, the Company closed on its sales of Presque Isle Downs and Nemacolin in January 2019 and March 2019, respectively. (See Note 5).

These unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018.

Recently Issued Accounting Pronouncements

Pronouncements Implemented in 2019

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, 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. The liability is measured on a discounted basis. Lessees will also recognize 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 is for the annual and interim periods beginning after December 15, 2018. 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 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 prior lease accounting guidance.

The Company adopted ASC 842 on January 1, 2019 using the prospective approach, and therefore, comparative periods will continue to be reported under prior lease accounting guidance consistent with previously issued financial statements. We elected the package of practical expedients permitted under the transition guidance within ASC 842, which among other things, allowed 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 also made 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.

Our operating leases, in which we are the lessee, are recorded on the balance sheet as a ROU asset with a corresponding lease liability. The lease liability will be remeasured each reporting period with a corresponding change to the ROU asset. ROU assets and lease liabilities for operating leases totaled $282.4 million and $287.1 million, respectively, as of March 31, 2019. The adoption of this guidance did not have an impact on net income; however, upon adoption we recorded a cumulative adjustment to our retained earnings of $4.7 million, net of tax, primarily related to the Company’s lease and management agreements at its Bettendorf location. (See Note 2 for more information). Adoption of this guidance did not have a material impact on the Company’s other financing leases.

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 (see Note 8). 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 requires a modified-retrospective approach and a cumulative adjustment to retained earnings to the first reporting period that the update is effective. We expect to adopt the new guidance on January 1, 2020 and currently we 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. We 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.

Leases

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Leases

Note 2. Leases

The Company’s management determines if a contract is or contains a lease at inception or modification of a contract. A contract is or contains a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Control over the use of the identified asset means the lessee has both (a) the right to obtain substantially all of the economic benefits from the use of the asset and (b) the right to direct the use of the asset.

Finance and operating lease ROU assets and liabilities are recognized based on the present value of future minimum lease payments over the expected lease term at commencement date. As the implicit rate is not determinable in most of the Company’s leases, management uses the Company’s incremental borrowing rate based on the information available at the lease commencement date in determining the present value of future payments. The expected lease terms include options to extend or terminate the lease when it is reasonably certain the Company will exercise such options. Lease expense for operating leases with minimum lease payments is recognized on a straight-line basis over the expected lease term.

The Company’s lease arrangements have lease and non-lease components. For leases in which the Company is the lessee, the Company accounts for the lease components and non-lease components as a single lease component for all classes of underlying assets. Leases, in which the Company is the lessor, are substantially all accounted for as operating leases and the lease components and non-lease components are accounted for separately, which is consistent with the Company’s historical accounting. Leases with an expected or initial term of 12 months or less are not accounted for on the balance sheet and the related lease expense is recognized on a straight-line basis over the expected lease term.

The Company has operating and finance leases for various real estate and equipment. Certain of our lease agreements include rental payments based on a percentage of sales over specified contractual amounts, rental payments adjusted periodically for inflation and rental payments based on usage. The Company’s leases include options to extend the lease term one month to 60 years. Except for the GLPI Master Lease (see Note 10), the Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.

Leases recorded on the balance sheet consist of the following (in thousands):

Leases	Classification on the Balance Sheet	March 31, 2019
Assets
Operating lease ROU assets	Other assets, net	$	282,363
Finance lease ROU assets	Property and equipment, net(1)	$	949,839
Liabilities
Current
Operating	Accrued other liabilities	$	20,232
Finance	Current portion of long-term debt	$	314
Noncurrent
Operating	Other long-term liabilities	$	266,898
Finance	Long-term financing obligation and debt	$	962,685

(1)

Finance lease ROU assets are recorded net of accumulated depreciation of $8.1 million as of March 31, 2019.

Other information related to lease terms and discount rates are as follows:

	March 31, 2019
Weighted Average Remaining Lease Term
Operating leases		34.6 years
Finance leases		34.5 years
Weighted Average Discount Rate
Operating leases(1)		7.1%
Finance leases		10.2%

(1)

Upon adoption of the new lease standard, discount rates used for existing operating leases were established on January 1, 2019.

The components of lease expense are as follows (in thousands):

	Three Months Ended
	March 31, 2019
Operating lease cost
Operating lease cost	$	7,456
Short-term and variable lease cost		1,975
Finance lease cost
Interest expense on lease liabilities		24,603
Amortization of ROU assets		2,511
Total lease cost	$	36,545

Supplemental cash flow information related to leases is as follows (in thousands):

	Three Months Ended
	March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$	7,840
Operating cash flows for finance leases	$	21,934

Maturities of lease liabilities are summarized as follows (in thousands):

	Operating Leases			Finance Leases
Year ending December 31,
2019 (excluding the three months ended March 31, 2019)	$	21,216		$	66,370
2020		24,331			89,227
2021		22,698			90,463
2022		21,754			91,745
2023		21,783			92,990
Thereafter		832,524			3,506,672
Total future minimum lease payments		944,306			3,937,467
Less: amount representing interest		(657,176	)		(3,394,568	)
Present value of future minimum lease payments		287,130			542,899
Less: current lease obligations		(20,232	)		(314	)
Plus: residual values - GLPI		—			420,100
Long-term lease obligations	$	266,898		$	962,685

Revenue Recognition

3 Months Ended

Mar. 31, 2019

Revenue From Contract With Customer [Abstract]

Revenue Recognition

Note 3. Revenue Recognition

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.

Hotel, food and beverage services have been determined to be separate, stand-alone performance obligations and are 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 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 player loyalty program liability represents a deferral of revenue until redemption occurs, which is typically less than one year.

The Company offers discretionary coupons and other discretionary complimentaries to customers outside of the player 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 consolidated statement of operations presents net revenue disaggregated by type or nature of the good or service (i.e., casino, pari-mutuel, food and beverage, hotel and other). A summary of net revenues disaggregated by type of revenue and reportable segment is presented below (amounts in thousands). Refer to Note 16 for a discussion of the Company’s reportable segments.

	Three Months Ended March 31, 2019
	West		Midwest		South		East		Central		Corporate and Other		Total
Casino	$	53,571	$	85,169	$	105,819	$	124,509	$	97,810	$	—	$	466,878
Pari-mutuel commissions		—		—		3,531		442		—		—		3,973
Food and beverage		27,906		6,087		14,709		14,721		11,786		—		75,209
Hotel		27,415		3,622		6,337		19,997		7,320		—		64,691
Other		9,203		1,909		2,318		6,564		3,556		1,522		25,072
Net revenues	$	118,095	$	96,787	$	132,714	$	166,233	$	120,472	$	1,522	$	635,823

	Three Months Ended March 31, 2018
	West		Midwest		South		East		Central		Corporate and Other		Total
Casino	$	49,734	$	88,359	$	97,509	$	103,856	$	—	$	—	$	339,458
Pari-mutuel commissions		—		—		3,409		661		—		—		4,070
Food and beverage		23,211		6,916		13,860		8,211		—		—		52,198
Hotel		19,430		3,637		5,992		1,682		—		—		30,741
Other		7,204		1,883		2,030		2,481		—		127		13,725
Net revenues	$	99,579	$	100,795	$	122,800	$	116,891	$	—	$	127	$	440,192

Contract and Contract Related Liabilities

The Company records contract or contract-related liabilities related to differences between the timing of cash receipts from the customer and the recognition of revenue. The Company generally has three types of liabilities related to contracts with customers: (1) outstanding chip liability, which represents the amounts owed in exchange for gaming chips held by a customer, (2) player loyalty program obligations, which represents the deferred allocation of revenue relating to player loyalty program incentives earned, as discussed above, and (3) customer deposits and other deferred revenue, which is primarily funds deposited by customers related to gaming play, advance payments on goods and services yet to be provided (such as advance ticket sales and deposits on rooms and convention space or for unpaid wagers), and deferred revenues associated with the Company’s interests in William Hill and TSG (see Note 7 and Note 8). Except for deferred revenues related to William Hill and TSG, these liabilities are generally expected to be recognized as revenue within one year of being purchased, earned, or deposited and are recorded within “Accrued other liabilities” on the Company’s Consolidated Balance Sheets.

The following table summarizes the activity related to contract and contract-related liabilities:

	Outstanding Chip Liability					Player Loyalty Liability						Customer Deposits and Other Deferred Revenue
	2019			2018		2019			2018			2019		2018
Balance at January 1	$	8,930		$	4,743	$	17,639		$	11,752		$	27,588	$	5,487
Balance at March 31		8,775			5,071		17,285			10,823			175,915		6,642
Increase / (decrease)	$	(155	)	$	328	$	(354	)	$	(929	)	$	148,327	$	1,155

The change in customer deposits and other deferred revenue during the three months ended March 31, 2019 is primarily attributed to the Company’s interests in William Hill, which is recorded in other long term liabilities on the Consolidated Balance Sheet (see Note 7 for more information).

Acquisitions, Preliminary Purchase Price Accounting and Pro Forma Information

3 Months Ended

Mar. 31, 2019

Business Combinations [Abstract]

Acquisitions, Purchase Price Accounting and Pro Forma Information

Note 4. Acquisitions, Preliminary 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 Gaming and Leisure Properties, Inc. (“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 three months ended March 31, 2019 and 2018 totaled $1.5 million and $1.0 million, respectively.

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 March 31, 2019 (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, inventories 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. 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 multi period 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 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 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 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, 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. In that analysis, the Company 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 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 January 1, 2019 through March 31, 2019, Tropicana generated net revenues of $207.3 million and net income of $4.2 million.

Elgin

Acquisition Summary

On August 7, 2018, the Company completed its acquisition of one hundred percent of the partnership interests in Elgin. As a result of the Elgin Acquisition, Elgin became an indirect wholly-owned subsidiary of the Company. The Company purchased Elgin for $327.5 million plus a $1.3 million working capital adjustment. The Elgin Acquisition was financed using cash on hand and borrowings under the Company’s revolving credit facility.

Transaction expenses related to the Elgin Acquisition totaled $31,000 and $0.6 million for the three months ended March 31, 2019 and 2018, respectively.

Preliminary Purchase Price Accounting – Elgin

The total purchase consideration for the Elgin Acquisition was $328.8 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	$	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 March 31, 2019 (dollars in thousands):

Cash and cash equivalents	$	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 relationships valued at $28.8 million.

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. 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.

The Company has assigned an indefinite useful life to the gaming licenses, in accordance with its review of the applicable guidance of ASC 350. 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, the Company’s historical experience has not indicated, nor does the Company 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, the Company 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 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. The Company 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, 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. In that analysis, the Company 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 January 1, 2019 through March 31, 2019, Elgin generated net revenues of $37.0 million and net income of $5.5 million.

Unaudited Pro Forma Information

Tropicana

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

	Three Months Ended
	March 31, 2018
Net operating revenues	$	658,006
Net income		14,441

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 three months ended March 31, 2018, as if only the Elgin Acquisition had occurred on January 1, 2017 (in thousands).

	Three Months Ended
	March 31, 2018
Net operating revenues	$	480,387
Net income		24,790

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.

Assets Held for Sale

3 Months Ended

Mar. 31, 2019

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 was 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 was recorded in the third quarter of 2018 due to the carrying value of the net property and equipment being sold exceeding the estimated net sales proceeds.

The sale of Presque Isle Downs closed on January 11, 2019 resulting in a gain on sale of $21.6 million for the three months ended March 31, 2019. The sale of Nemacolin closed on March 8, 2019 resulting in a gain on sale of $0.5 million for the three months ended March 31, 2019.

Prior to the respective closing dates, the dispositions of Nemacolin and Presque Isle Downs, both of which were reported in the East segment, met the requirements for presentation as assets held for sale under generally accepted accounting principles. Due to the termination of the Vicksburg sale, Vicksburg was 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 as of December 31, 2018 (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 (loss) income of Presque Isle Downs and Nemacolin prior to the respective dispositions (in thousands):

	Three Months ended March 31, 2019						Three Months ended March 31, 2018
	Presque Isle Downs			Nemacolin			Presque Isle Downs		Nemacolin
Net operating revenues	$	3,235		$	4,836		$	33,177	$	8,494
Net (loss) income		(42	)		(754	)		2,135		(118	)

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

Stock-Based Compensation and Stockholder’s Equity

3 Months Ended

Mar. 31, 2019

Share Based Compensation [Abstract]

Stock-Based Compensation and Stockholder’s Equity

Note 6. Stock-Based Compensation and Stockholder’s Equity

Common Stock

The Company has authorized common stock of 200,000,000 shares, par value $0.00001 per share. In June 2018 the Company amended its certificate of incorporation to increase the total number of authorized shares of common stock from 100,000,000 shares to 200,000,000 shares.

Share Repurchase Program

In November 2018, the Company’s Board of Directors 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. No shares were repurchased during the three months ended March 31, 2019.

Stock-Based Compensation

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 totaled $4.9 million and $3.7 million during the three months ended March 31, 2019 and 2018, 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 $2.6 million and $3.4 million for the three months ended March 31, 2019 and 2018, respectively, for excess tax benefits related to stock-based compensation.

A summary of the restricted stock unit (RSU) activity for the three months ended March 31, 2019 is presented in the following table:

	Restricted Stock Units
	Units				Weighted- Average Grant Date Fair Value
					(in millions)
Unvested outstanding as of December 31, 2018		1,283,372		$		23.93
Granted (1)		352,869
Vested		(352,584	)
Unvested outstanding as of March 31, 2019		1,283,657		$		32.19

(1)

Included are 30,135 RSUs granted to non-employee members of the Board of Directors during the three months ended March 31, 2019.

As of March 31, 2019 and 2018, the Company had $28.6 million and $16.6 million, respectively, of unrecognized compensation expense. The RSUs are expected to be recognized over a weighted-average period of 1.90 years and 1.58 years, respectively.

There was no ERI stock option activity for the three months ended March 31, 2019. Outstanding options as of March 31, 2019 totaled 135,956, of which 119,505 options were exercisable.

Investments in and Advances to Unconsolidated Affiliates

3 Months Ended

Mar. 31, 2019

Equity Method Investments And Joint Ventures [Abstract]

Investments in and Advances to Unconsolidated Affiliates

Note 7. 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 land 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 March 31, 2019 and December 31, 2018, the Company’s investment in the partnership totaled $1.2 million and $1.3 million, respectively, recorded in investment in and advances to unconsolidated affiliates on the Consolidated Balance Sheets, representing the Company’s maximum loss exposure. As of March 31, 2019 and December 31, 2018, the Company’s receivable from the partnership totaled $0.1 million and $0.3 million, respectively, 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 income (loss) from unconsolidated affiliates on the Consolidated Statements of Income. At March 31, 2019 and December 31, 2018, the Company’s investment in the joint venture totaled $0.7 million and $0.6 million, respectively, recorded in investment in and advances to unconsolidated affiliates on the Consolidated Balance Sheets.

William Hill

In September 2018, the Company entered into a 25-year agreement, which became effective January 29, 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% ownership interest in William Hill US as well as 13.4 million ordinary shares of William Hill PLC, which carry certain time restrictions on when they can be sold, 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. As of March 31, 2019, based on the Company’s existing sportsbook operations with William Hill, the Company’s receivable from William Hill totaled $3.1 million and is reflected in due from affiliates on the Consolidated Balance Sheets.

The Company is accounting for its investment in William Hill US under the equity method. The fair value of the Company’s initial investment in William Hill US of $128.9 million at January 29, 2019 was determined using Level 3 inputs. As of March 31, 2019, the carrying value of the Company’s interest in William Hill US was $130.3 million recorded in investment in and advances to unconsolidated affiliates on the Consolidated Balance Sheet. The Company also recorded deferred revenue associated with the ownership interest received in William Hill US and is recognizing revenue on a straight-line basis over the 25 year agreement term. The Company recognized revenue of $0.8 million during the three months ended March 31, 2019. As of March 31, 2019, the balance of the William Hill US deferred revenue totaled $128.1 million and is recorded in other long term liabilities on the Consolidated Balance Sheet.

As of March 31, 2019, the fair value of the William Hill PLC shares totaled $24.4 million, net of an unrealized loss of $2.8 million, and included in other assets, net on the Consolidated Balance Sheet. The Company also recorded deferred revenue associated with the William Hill PLC shares and is recognizing revenue on a straight-line basis over the 25 year agreement term. The Company recognized revenue of $0.2 million during the three months ended March 31, 2019. As of March 31, 2019, the balance of the William Hill PLC deferred revenue totaled $27.1 million and is recorded in other long term liabilities on the Consolidated Balance Sheet.

Intangible Assets, Net and Other Long Term Assets

3 Months Ended

Mar. 31, 2019

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

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

	March 31,			December 31,
	2019			2018			Useful Life
Goodwill	$	1,008,316		$	1,008,316		Indefinite

Gaming licenses	$	1,090,682		$	1,090,682		Indefinite
Trade names		187,929			187,929		Indefinite
Player loyalty programs		105,005			105,005		3 - 4 years
Subtotal		1,383,616			1,383,616
Accumulated amortization player loyalty programs		(29,252	)		(21,610	)
Total gaming licenses and other intangible assets, net	$	1,354,364		$	1,362,006

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.

Amortization expense with respect to player loyalty programs for the three months ended March 31, 2019 and 2018 totaled $7.6 million and $1.6 million, respectively, which is included in depreciation and amortization in the Consolidated Statements of Income. Such amortization expense is expected to be $23.0 million for the remainder of 2019 and $27.4 million, $21.2 million and $4.2 million for the years ended December 31, 2020, 2021 and 2022, respectively.

Goodwill represents the excess of the purchase prices of acquiring MTR Gaming, Isle, Elgin and Tropicana over the fair market value of the net assets acquired. 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 in 2018.

Other Assets, Net

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

	March 31,		December 31,
	2019		2018
CRDA bonds and deposits, net	$	6,403	$	6,694
Unamortized debt issuance costs - Revolving Credit Facility		8,992		9,533
Non-operating real property		16,852		17,880
Long-term prepaid rent		164		20,198
Restricted cash and investments		39,556		15,064
ROU assets (see Note 2)		282,363		—
Other		12,158		14,077
Total other assets, net	$	366,488	$	83,446

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.

Non-operating real property consists principally of land and undeveloped properties for which the Company has designated as non-operating and has declared its intent to sell such assets. As a result of a pending sale offer for certain non-operating real property located in Pennsylvania, the Company recognized an impairment charge of $1.0 million for the three months ended March 31, 2019.

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 120 months which commenced upon the opening of the property in January 2018. The current term of the lease expires November 30, 2027. Upon adoption of the new lease accounting guidance this pre-payment of rent is included with the Company’s ROU assets and no longer included in long-term prepaid rent.

In November 2018, we entered into a 20-year agreement with 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.

At March 31, 2019, the fair value of the Company’s shares of TSG totaled $17.3 million net of a liability to William Hill PLC of $8.7 million, and is recorded in restricted cash and investments on the Consolidated Balance Sheet. Upon the closing of TSG, the Company also recorded deferred revenue associated with the shares received and recognized revenue of $0.4 million during the three months ended March 31, 2019. As of March 31, 2019, the balance of the TSG deferred revenue totaled $18.2 million and is recorded in other long term liabilities on the Consolidated Balance Sheet.

In September 2018, we entered into a 25-year agreement, which became effective January 2019, with William Hill pursuant to which we received 13.4 million ordinary shares of William Hill PLC which carry certain time restrictions on when they can be sold. As of March 31, 2019, the fair value of the William Hill PLC shares totaled $24.4 million, net of an unrealized loss of $2.8 million, and is included in other assets, net on the Consolidated Balance Sheet.

Income Taxes

3 Months Ended

Mar. 31, 2019

Income Tax Disclosure [Abstract]

Income Taxes

Note 9. Income Taxes

The Company estimates an annual effective income tax rate based on projected results for the year and applies this rate to income before taxes to calculate income tax expense. Any refinements made due to subsequent information that affects the estimated annual effective income tax rate are reflected as adjustments in the current period.

For the three months ended March 31, 2019 and 2018, the Company’s tax expense was $10.4 million and $2.1 million, respectively. For the three months ended March 31, 2019, the difference between the effective rate and the statutory rate is primarily due to non-deductible expenses, excess tax benefits associated with stock compensation, and state and local income taxes. For the three months ended March 31, 2018, the difference between the effective rate and the statutory rate is primarily due to state and local income taxes less excess tax benefits associated with stock compensation.

As of March 31, 2019, 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 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.

Long-Term Financing Obligation

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Long-Term Financing Obligation

Note 10. Long-Term Financing Obligation

As of December 31, 2018, under the prior lease accounting standard the Company’s Master Lease with GLPI was accounted for as a failed sale-leaseback financing obligation equal to the fair value of the leased real estate assets and liabilities acquired in purchase accounting. Upon adoption of ASC 842 (see Note 2), the Company re-evaluated the Master Lease and determined this existing failed sale-leaseback transaction will continue to be accounted for as a financing obligation.

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 10.22%. 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 March 31, 2019 were as follows (in thousands):

2019 (excluding the three months ended March 31, 2019)	$	66,034
2020		89,168
2021		90,417
2022		91,691
2023		92,990
Thereafter		3,506,672
Total future payments		3,936,972
Less: amounts representing interest at 10.22%		(3,394,567	)
Plus: residual values		420,100
Financing obligation to GLPI	$	962,505

Total payments and interest expense related to the Master Lease were $21.9 million and $24.6 million, respectively, for the three months ended March 31, 2019. 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

3 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

Long-Term Debt

Note 11. Long-Term Debt

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

	March 31,			December 31,
	2019			2018

Term Loan	$	956,750		$	956,750
Less: Unamortized discount and debt issuance costs		(17,679	)		(18,426	)
Net		939,071			938,324
6% Senior Notes due 2026		600,000			600,000
Less: Unamortized debt issuance costs		(19,485	)		(19,630	)
Net		580,515			580,370
6% Senior Notes due 2025		875,000			875,000
Plus: Unamortized debt premium		22,687			23,491
Less: Unamortized debt issuance costs		(17,803	)		(18,405	)
Net		879,884			880,086
7% Senior Notes due 2023		375,000			375,000
Less: Unamortized discount and debt issuance costs		(5,814	)		(6,075	)
Net		369,186			368,925
Revolving Credit Facility		40,000			245,000
Lumière Loan		246,000			246,000
Long-term notes and other payables		2,910			3,030
Less: Current portion		(415	)		(462	)
Total long-term debt	$	3,057,151		$	3,261,273

Amortization of the debt issuance costs and the discount and/or premium associated with our indebtedness totaled $1.9 million and $1.3 million for the three months ended March 31, 2019 and 2018, respectively. Amortization of debt issuance costs is computed using the effective interest method and is included in interest expense.

Scheduled maturities of long‑term debt are $0.4 million for the remainder of 2019, $246.2 million in 2020, $0.2 million in 2021, $0.2 million in 2022, $415.1 million in 2023, and $2.4 billion thereafter.

Term Loan and Revolving Credit Facility

The Company is party to a credit agreement with JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto dated as of April 17, 2017 (as amended the “Credit Facility”), consisting of a $1.45 billion term loan facility (the “Term Loan Facility” or “Term Loan”) and a $500.0 million revolving credit facility (the “Revolving Credit Facility”). The Company’s obligations under the Revolving Credit Facility will mature on October 1, 2023. The Company’s obligations under the Term Loan Facility will mature on April 17, 2024. The Company was required to make quarterly principal payments of $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.

As of March 31, 2019, the Company had $956.8 million outstanding on the Term Loan and $40.0 million outstanding under the Revolving Credit Facility. The Company had $447.7 million of available borrowing capacity, after consideration of $12.3 million in outstanding letters of credit under its Revolving Credit Facility as of March 31, 2019. The Company applied approximately $150.0 million of proceeds from the sale of Presque Isle Downs to temporarily repay amounts outstanding under the Revolving Credit Facility. Pursuant to the terms of the indentures governing the Company’s senior notes, the Company will be required to make an offer to purchase a portion of its outstanding senior notes with the excess proceeds from such sale unless it applies the net proceeds of such sale to either permanently repay outstanding indebtedness or make specified acquisitions or capital expenditures within 365 days of the sale of Presque Isle Downs.

The interest rate per annum applicable to loans under the Revolving Credit Facility are, at our option, either LIBOR plus a margin ranging from 1.75% to 2.50% or a base rate plus a margin from 0.75% to 1.50%, the 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 LIBOR plus 2.25%, or 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%. Additionally, the Company pays a commitment fee on the unused portion of the Revolving Credit Facility of 0.50% per annum. At March 31, 2019, the weighted average interest rates on the Term Loan and Revolving Credit Facility were 4.88% and 4.50%, respectively.

Senior Notes

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 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 every semi-annually in arrears on March 15 and September 15.

The 6% Senior Notes due 2026 were general unsecured obligations of Escrow Issuer’s upon issuance and, upon the assumption of such obligations by the Company and the subsidiary guarantors (the “Guarantors”) upon consummation of the Tropicana Acquisition, became general unsecured obligations of the Company and the Guarantors, ranking senior in right of payment to all of the Company’s existing and future debt that is expressly subordinated in right of payment to the 6% Senior Notes due 2026 and the guarantees, ranking equally in right of payment with all of the applicable obligor’s existing and future senior liabilities, including the obligations under the Company’s existing 7% Senior Notes due 2023 and 6% Senior Notes due 2025, and are effectively subordinated to all of the applicable obligor’s existing and future secured debt, including indebtedness under the Company’s existing senior secured credit facility and the Lumière Note (as defined in the 2026 Indenture), in each case, to the extent of the value of the collateral securing such debt. In addition, the 6% Senior Notes due 2026 and the related guarantees are structurally subordinated to all existing and future indebtedness and other liabilities of the Company’s subsidiaries and other entities in which the Company has an equity interest that do not guarantee the 6% Senior Notes due 2026 (other than indebtedness and liabilities owed to the Company or the Guarantors).

6% Senior Notes due 2025

On March 29, 2017, the Company issued at par $375.0 million 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 due 2025 will mature on April 1, 2025, with interest payable semi-annually in arrears on April 1 and October 1. In connection with the consummation of the Isle Acquisition on May 1, 2017, 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.

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 an 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.

Lumière Loan

We borrowed $246 million from GLPI to fund the entire purchase price of the real estate underlying Lumière. 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, we agreed to use our 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 us 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 us of such Replacement Property. In connection with such Replacement Property sale, (i) we 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 our obligations 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 our outstanding obligations under the Lumière Loan, GLPI will pay us 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 March 31, 2019, 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.

Fair Value Measurements

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

Fair Value Measurements

Note 12. 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.

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.

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 March 31, 2019 and December 31, 2018.

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 March 31, 2019 and December 31, 2018 (amounts in thousands):

	March 31, 2019
Assets:	Level 1		Level 2		Level 3			Total
Restricted cash and investments	$	19,775	$	3,050	$	41,775		$	64,600
Marketable securities		9,816		7,083		—			16,899

Liabilities:
Other liabilities related to restricted investments		—		—		(8,672	)		(8,672	)

	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

The change in restricted cash and investments valued using Level 3 inputs for the three months ended March 31, 2019 is as follows:

	Level 3 Investments			Level 3 Other Liabilities
Fair value of investment and liabilities at December 31, 2018	$	16,008		$	—
Value of additional investment received		27,329			(8,774	)
Change in other liabilities related to restricted investments		—			102
Unrealized loss in restricted investments		(1,562	)		—
Fair value at March 31, 2019	$	41,775		$	(8,672	)

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

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

	March 31, 2019				December 31, 2018
	Carrying		Fair		Carrying		Fair
	Amount		Value		Amount		Value
Financial liabilities:
7% Senior Notes due 2023	$	369,186	$	392,812	$	368,925	$	385,312
6% Senior Notes due 2025		879,884		892,500		880,086		840,000
6% Senior Notes due 2026		580,515		594,000		580,370		567,000
Term Loan		939,071		947,183		938,324		916,088
Revolving Credit Facility		40,000		40,000		245,000		245,000
Lumière Loan		246,000		246,000		246,000		246,000
Other long-term debt		2,910		2,910		3,030		3,030

- 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

Earnings per Share

3 Months Ended

Mar. 31, 2019

Earnings Per Share Basic And Diluted [Abstract]

Earnings per Share

Note 13. Earnings per Share

The following table illustrates the reconciliation of the numerators and denominators of the basic and diluted net income per share computations for the three months ended March 31, 2019 and 2018 (dollars in thousands, except per share amounts):

	Three Months Ended
	March 31,
	2019		2018

Net income available to common stockholders	$	38,229	$	20,855
Shares outstanding:
Weighted average shares outstanding – basic		77,567,147		77,353,730
Effect of dilutive securities:
Stock options		104,382		152,906
RSUs		917,581		573,413
Weighted average shares outstanding – diluted		78,589,110		78,080,049
Net income per common share attributable to common stockholders – basic:	$	0.49	$	0.27
Net income per common share attributable to common stockholders – diluted:	$	0.49	$	0.27

Commitments and Contingencies

3 Months Ended

Mar. 31, 2019

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 14. Commitments and Contingencies

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 Company’s existing insurance coverage will be sufficient to cover losses, if any, arising from such proceedings.

Agreements with Horsemen and Pari-mutuel Clerks. The Federal Interstate Horse Racing Act and the state racing laws in West Virginia and Ohio 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 Ohio, we must have an agreement with the representative of the horse owners. We currently have all the requisite agreements in place referenced in this sub section at Mountaineer and Scioto Downs. Certain agreements referenced above may be terminated upon written notice by either party.

Related Affiliates

3 Months Ended

Mar. 31, 2019

Related Affiliates

Note 15. Related Affiliates

REI

As of March 31, 2019, Recreational Enterprises, Inc. (“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. During the three months end March 31, 2019 and 2018, 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.

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 is $0.6 million annually and paid quarterly during the year. As of March 31, 2019 and December 31, 2018 there were no amounts due to or from C.S. & Y. Associates.

Segment Information

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Segment Information

Note 16. Segment Information

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 the Elgin and Tropicana acquisitions, the Company’s principal operating activities occurred in four geographic regions and reportable segments. As referenced in Note 1, following the Elgin and Tropicana acquisitions a fifth segment, Central, was added in the third quarter of 2018. The reportable segments are based on the similar characteristics of the operating segments within the regions in which they operate. These segments are summarized as follows:

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) (b)	Pennsylvania
	Nemacolin	5/1/2017 (b)	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.

(b)

Presque Isle Downs was sold on January 11, 2019 and Nemacolin was sold on March 8, 2019.

The following table sets forth, for the periods indicated, certain operating data for our five reportable segments.

	Three Months Ended
	Ended March 31,
	2019			2018
	(in thousands)
Revenues and expenses
West:
Net operating revenues	$	118,095		$	99,579
Depreciation and amortization		13,143			8,189
Operating income		10,801			10,139
Midwest:
Net operating revenues		96,787			100,795
Depreciation and amortization		8,421			7,645
Operating income		27,833			26,676
South:
Net operating revenues		132,714			122,800
Depreciation and amortization		11,015			8,531
Operating income		27,515			13,359
East:
Net operating revenues		166,233			116,891
Depreciation and amortization		12,149			6,049
Operating income		27,161			19,131
Central:
Net operating revenues		120,472			—
Depreciation and amortization		11,210			—
Operating income		27,070			—
Corporate:
Net operating revenues		1,522			127
Depreciation and amortization		1,819			1,120
Operating income (loss)		3,224			(15,111	)
Total Reportable Segments
Net operating revenues	$	635,823		$	440,192
Depreciation and amortization	$	57,757		$	31,534
Operating income	$	123,604		$	54,194
Reconciliations to consolidated net income:
Operating income	$	123,604		$	54,194
Unallocated income and expenses:
Interest expense, net		(73,510	)		(31,251	)
Unrealized loss on restricted investment		(1,460	)		—
Provision for income taxes		(10,405	)		(2,088	)
Net income	$	38,229		$	20,855

	Three Months Ended March 31,
	2019		2018
	(in thousands)
Capital Expenditures, Net
West	$	16,054	$	10,181
Midwest		4,123		2,741
South		3,764		2,883
East		10,574		2,874
Central		2,668		—
Corporate		1,177		2,592
Total	$	38,360	$	21,271

		West		Midwest		South		East		Central		Corporate, Other & Eliminations			Total
Balance sheet as of March 31, 2019	(in thousands)
Total assets		$	1,829,237	$	1,285,862	$	1,145,605	$	1,968,176	$	1,508,821	$	(1,623,183	)	$	6,114,518
Goodwill			220,861		322,745		213,150		177,486		74,074		—			1,008,316

Balance sheet as of December 31, 2018
Total assets		$	1,710,375	$	1,245,521	$	1,068,258	$	2,166,730	$	1,457,961	$	(1,737,383	)	$	5,911,462
Goodwill			220,861		322,745		213,150		177,486		74,074		—			1,008,316

Consolidating Condensed Financial Information

3 Months Ended

Mar. 31, 2019

Condensed Consolidating Financial Information [Abstract]

Consolidating Condensed Financial Information

Note 17. 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.

As of March 31, 2019, 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.; Old PID, Inc. (f/k/a 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 Riverboat Resort–Riverboat Casino; 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 March 31, 2019 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	$	69,364	$	294,777	$	24,184	$	(5,335	)	$	382,990
Intercompany receivables		—		235,559		21,914		(257,473	)		—
Investment in and advances to unconsolidated affiliates		130,338		1,902		—		—			132,240
Investments in subsidiaries		3,716,505		—		—		(3,716,505	)		—
Property and equipment, net		17,775		2,847,556		4,789		—			2,870,120
Other assets		63,993		2,673,033		24,574		(32,432	)		2,729,168
Total assets	$	3,997,975	$	6,052,827	$	75,461	$	(4,011,745	)	$	6,114,518

Current liabilities	$	94,871	$	283,102	$	16,706	$	(5,335	)	$	389,344
Intercompany payables		232,473		—		25,000		(257,473	)		—
Long-term financing obligation to GLPI		—		962,505		—		—			962,505
Long-term debt, less current maturities		2,435,971		621,180		—		—			3,057,151
Deferred income tax liabilities		—		236,454		—		(32,432	)		204,022
Other accrued liabilities		171,397		266,835		—		—			438,232
Stockholders’ equity		1,063,263		3,682,751		33,755		(3,716,505	)		1,063,264
Total liabilities and stockholders’ equity	$	3,997,975	$	6,052,827	$	75,461	$	(4,011,745	)	$	6,114,518

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	)		—
Investment in and advances to unconsolidated affiliates		—		1,892		—		—			1,892
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		2,423,807		26,674		(31,785	)		2,453,768
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 statement of operations for the three months ended March 31, 2019 is as follows:

	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	$	—			466,441		$	4,410		$	—		$	470,851
Non-gaming		1,397			161,502			2,073			—			164,972
Net revenues		1,397			627,943			6,483			—			635,823

Operating expenses:
Gaming and pari-mutuel commissions		—			207,142			3,164			—			210,306
Non-gaming		—			94,884			400			—			95,284
Marketing and promotions		—			32,053			248			—			32,301
General and administrative		—			118,552			1,336			—			119,888
Corporate		16,141			529			84			—			16,754
Impairment charges		—			958			—			—			958
Management fee		(4,735	)		4,735			—			—			—
Depreciation and amortization		1,150			56,607			—			—			57,757
Total operating expenses		12,556			515,460			5,232			—			533,248

Gain on sale or disposal of property and equipment		409			21,396			513			—			22,318
Transaction expenses		(1,227	)		(475	)		(192	)		—			(1,894	)
Income (loss) from unconsolidated affiliates		655			(50	)		—			—			605
Operating (loss) income		(11,322	)		133,354			1,572			—			123,604

Interest expense, net		(37,432	)		(35,834	)		(244	)		—			(73,510	)
Unrealized loss on restricted investments		(1,460	)		—			—			—			(1,460	)
Subsidiary income (loss)		72,255			—			—			(72,255	)		—
Income (loss) before income taxes		22,041			97,520			1,328			(72,255	)		48,634
Income tax benefit (provision)		16,188			(26,265	)		(328	)		—			(10,405	)
Net income (loss)	$	38,229		$	71,255		$	1,000		$	(72,255	)	$	38,229

The consolidating condensed statement of operations for the three months ended March 31, 2018 is as follows:

	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	$	—		$	335,793		$	7,735		$	—		$	343,528
Non-gaming		—			94,023			2,641			—			96,664
Net revenues		—			429,816			10,376			—			440,192

Operating expenses:
Gaming and pari-mutuel commissions		—			164,303			5,248			—			169,551
Non-gaming		—			63,975			712			—			64,687
Marketing and promotions		—			20,835			466			—			21,301
General and administrative		—			72,427			1,775			—			74,202
Corporate		10,294			322			953			—			11,569
Impairment charges		—			9,815			—			—			9,815
Management fee		(5,137	)		5,137			—			—			—
Depreciation and amortization		772			30,601			161			—			31,534
Total operating expenses		5,929			367,415			9,315			—			382,659

Loss on sale or disposal of property and equipment		—			(706	)		—			—			(706	)
Transaction expenses		(2,118	)		(430	)		—			—			(2,548	)
Loss from unconsolidated affiliates		—			(85	)		—			—			(85	)
Operating (loss) income		(8,047	)		61,180			1,061			—			54,194

Interest expense, net		(24,432	)		(6,286	)		(533	)		—			(31,251	)
Subsidiary income (loss)		43,305			—			—			(43,305	)		—
Income (loss) before income taxes		10,826			54,894			528			(43,305	)		22,943
Income tax benefit (provision)		10,029			(12,303	)		186			—			(2,088	)
Net income (loss)	$	20,855		$	42,591		$	714		$	(43,305	)	$	20,855

The consolidating condensed statement of cash flows for the three months ended March 31, 2019 is as follows:

	Eldorado Resorts, Inc. (Parent Obligor)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating and Eliminating Entries		Eldorado Resorts, Inc. Consolidated
	(in thousands)
Net cash provided by (used in) operating activities	$	13,524		$	53,239		$	(1,323	)	$	—	$	65,440
INVESTING ACTIVITIES:
Purchase of property and equipment, net		(1,154	)		(37,198	)		(8	)		—		(38,360	)
Proceeds from sale of property and equipment, net of cash sold		550			168,997			(1,602	)		—		167,945
Purchase of restricted investments		—			—			(80	)		—		(80	)
Net cash (used in) provided by investing activities		(604	)		131,799			(1,690	)		—		129,505
FINANCING ACTIVITIES:
Payments under Revolving Credit Facility		(205,000	)		—			—			—		(205,000	)
Net proceeds from (payments to) related parties		221,599			(223,672	)		2,073			—		—
Payments on other long-term payables		(23	)		(12	)		(83	)		—		(118	)
Debt issuance costs		(386	)		—			—			—		(386	)
Taxes paid related to net share settlement of equity awards		(4,322	)		—			—			—		(4,322	)
Net cash provided by (used in) financing activities		11,868			(223,684	)		1,990			—		(209,826	)
Increase (decrease) in cash, cash equivalents and restricted cash		24,788			(38,646	)		(1,023	)		—		(14,881	)
Cash, cash equivalents and restricted cash, beginning of period		12,844			222,672			11,175			—		246,691
Cash, cash equivalents and restricted cash, end of period	$	37,632		$	184,026		$	10,152		$	—	$	231,810

RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO AMOUNTS REPORTED WITHIN THE CONDENSED CONSOLIDATED BALANCE SHEETS:
Cash and cash equivalents	$	37,632			170,099			9,152		$	—	$	216,883
Restricted cash		—			7,892			—			—		7,892
Restricted and escrow cash included in other noncurrent assets		—			6,035			1,000			—		7,035
Total cash, cash equivalents and restricted cash	$	37,632		$	184,026		$	10,152		$	—	$	231,810

The consolidating condensed statement of cash flows for the three months ended March 31, 2018 is as follows:

	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	$	(7,128	)	$	87,253		$	(2,118	)	$	—	$	78,007
INVESTING ACTIVITIES:
Purchase of property and equipment, net		(1,233	)		(19,011	)		(1,027	)		—		(21,271	)
Proceeds from sale of property and equipment		—			150			—			—		150
Net cash used in investing activities		(1,233	)		(18,861	)		(1,027	)		—		(21,121	)
FINANCING ACTIVITIES:
Net proceeds from (payments to) related parties		62,560			(66,660	)		4,100			—		—
Payments on other long-term payables		(22	)		(78	)		(70	)		—		(170	)
Debt issuance costs		(304	)		—			—			—		(304	)
Taxes paid related to net share settlement of equity awards		(7,502	)		—			—			—		(7,502	)
Net cash provided by (used in) financing activities		54,732			(66,738	)		4,030			—		(7,976	)
INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH		46,371			1,654			885			—		48,910
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR		13,836			118,483			15,430			—		147,749
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD	$	60,207		$	120,137		$	16,315		$	—	$	196,659

RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO AMOUNTS REPORTED WITHIN THE CONDENSED CONSOLIDATED BALANCE SHEETS:
Cash and cash equivalents	$	59,490		$	116,394		$	7,254		$	—	$	183,138
Restricted cash		717			2,743			199			—		3,659
Restricted cash included in other noncurrent assets		—			1,000			8,862			—		9,862
TOTAL CASH, CASH EQUIVALENTS AND RESTRICTED CASH	$	60,207		$	120,137		$	16,315		$	—	$	196,659

Organization and Basis of Presentation (Policies)	3 Months Ended
Organization and Basis of Presentation (Policies)	Mar. 31, 2019
Accounting Policies [Abstract]
Reclassifications	Reclassifications Certain reclassifications of prior year presentations have been made to conform to the current period presentation.
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements of the Company and its subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information with the instructions for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by US GAAP for complete financial statements. In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments, all of which are normal and recurring, considered necessary for a fair presentation and have been included herein. The results of operations for these interim periods are not necessarily indicative of the operating results for other quarters, for the full year or any future period. 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 the Elgin and Tropicana acquisitions, the Company’s principal operating activities occurred in four geographic regions and reportable segments. Following the Elgin and Tropicana acquisitions, a fifth segment, Central, was added. The reportable segments are based on the similar characteristics of the operating segments within the regions in which they operate: West, Midwest, South, East, and Central. (See Note 16 for a listing of properties included in each segment). The presentation of information herein for periods prior to our acquisitions of Elgin and Tropicana and after our acquisitions of Elgin and Tropicana are not fully comparable because the results of operations for Elgin and Tropicana are not included for periods prior to August 7, 2018 and October 1, 2018, respectively. Additionally, the Company closed on its sales of Presque Isle Downs and Nemacolin in January 2019 and March 2019, respectively. (See Note 5). These unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Pronouncements Implemented in 2019 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, 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. The liability is measured on a discounted basis. Lessees will also recognize 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 is for the annual and interim periods beginning after December 15, 2018. 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 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 prior lease accounting guidance. The Company adopted ASC 842 on January 1, 2019 using the prospective approach, and therefore, comparative periods will continue to be reported under prior lease accounting guidance consistent with previously issued financial statements. We elected the package of practical expedients permitted under the transition guidance within ASC 842, which among other things, allowed 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 also made 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. Our operating leases, in which we are the lessee, are recorded on the balance sheet as a ROU asset with a corresponding lease liability. The lease liability will be remeasured each reporting period with a corresponding change to the ROU asset. ROU assets and lease liabilities for operating leases totaled $282.4 million and $287.1 million, respectively, as of March 31, 2019. The adoption of this guidance did not have an impact on net income; however, upon adoption we recorded a cumulative adjustment to our retained earnings of $4.7 million, net of tax, primarily related to the Company’s lease and management agreements at its Bettendorf location. (See Note 2 for more information). Adoption of this guidance did not have a material impact on the Company’s other financing leases. 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 (see Note 8). 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 requires a modified-retrospective approach and a cumulative adjustment to retained earnings to the first reporting period that the update is effective. We expect to adopt the new guidance on January 1, 2020 and currently we 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. We 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.

Leases (Tables)

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Schedule of Leases Recorded on Balance Sheet

Leases recorded on the balance sheet consist of the following (in thousands):

Leases	Classification on the Balance Sheet	March 31, 2019
Assets
Operating lease ROU assets	Other assets, net	$	282,363
Finance lease ROU assets	Property and equipment, net(1)	$	949,839
Liabilities
Current
Operating	Accrued other liabilities	$	20,232
Finance	Current portion of long-term debt	$	314
Noncurrent
Operating	Other long-term liabilities	$	266,898
Finance	Long-term financing obligation and debt	$	962,685

(1)

Finance lease ROU assets are recorded net of accumulated depreciation of $8.1 million as of March 31, 2019.

Schedule of Other Information Related to Lease Terms and Discount Rates

Other information related to lease terms and discount rates are as follows:

	March 31, 2019
Weighted Average Remaining Lease Term
Operating leases		34.6 years
Finance leases		34.5 years
Weighted Average Discount Rate
Operating leases(1)		7.1%
Finance leases		10.2%

(1)

Upon adoption of the new lease standard, discount rates used for existing operating leases were established on January 1, 2019.

Components of Lease Expense

The components of lease expense are as follows (in thousands):

	Three Months Ended
	March 31, 2019
Operating lease cost
Operating lease cost	$	7,456
Short-term and variable lease cost		1,975
Finance lease cost
Interest expense on lease liabilities		24,603
Amortization of ROU assets		2,511
Total lease cost	$	36,545

Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases is as follows (in thousands):

	Three Months Ended
	March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$	7,840
Operating cash flows for finance leases	$	21,934

Summary of Maturities of Lease Liabilities

Maturities of lease liabilities are summarized as follows (in thousands):

	Operating Leases			Finance Leases
Year ending December 31,
2019 (excluding the three months ended March 31, 2019)	$	21,216		$	66,370
2020		24,331			89,227
2021		22,698			90,463
2022		21,754			91,745
2023		21,783			92,990
Thereafter		832,524			3,506,672
Total future minimum lease payments		944,306			3,937,467
Less: amount representing interest		(657,176	)		(3,394,568	)
Present value of future minimum lease payments		287,130			542,899
Less: current lease obligations		(20,232	)		(314	)
Plus: residual values - GLPI		—			420,100
Long-term lease obligations	$	266,898		$	962,685

Revenue Recognition (Tables)

3 Months Ended

Mar. 31, 2019

Disaggregation Of Revenue [Line Items]

Summary of Activity Related to Contract and Contract Related Liabilities

The following table summarizes the activity related to contract and contract-related liabilities:

	Outstanding Chip Liability					Player Loyalty Liability						Customer Deposits and Other Deferred Revenue
	2019			2018		2019			2018			2019		2018
Balance at January 1	$	8,930		$	4,743	$	17,639		$	11,752		$	27,588	$	5,487
Balance at March 31		8,775			5,071		17,285			10,823			175,915		6,642
Increase / (decrease)	$	(155	)	$	328	$	(354	)	$	(929	)	$	148,327	$	1,155

Adoption of ASC Topic 606

Disaggregation Of Revenue [Line Items]

Summary of Net Revenues Disaggregated Type of Revenue and Reportable Segment

	Three Months Ended March 31, 2019
	West		Midwest		South		East		Central		Corporate and Other		Total
Casino	$	53,571	$	85,169	$	105,819	$	124,509	$	97,810	$	—	$	466,878
Pari-mutuel commissions		—		—		3,531		442		—		—		3,973
Food and beverage		27,906		6,087		14,709		14,721		11,786		—		75,209
Hotel		27,415		3,622		6,337		19,997		7,320		—		64,691
Other		9,203		1,909		2,318		6,564		3,556		1,522		25,072
Net revenues	$	118,095	$	96,787	$	132,714	$	166,233	$	120,472	$	1,522	$	635,823

	Three Months Ended March 31, 2018
	West		Midwest		South		East		Central		Corporate and Other		Total
Casino	$	49,734	$	88,359	$	97,509	$	103,856	$	—	$	—	$	339,458
Pari-mutuel commissions		—		—		3,409		661		—		—		4,070
Food and beverage		23,211		6,916		13,860		8,211		—		—		52,198
Hotel		19,430		3,637		5,992		1,682		—		—		30,741
Other		7,204		1,883		2,030		2,481		—		127		13,725
Net revenues	$	99,579	$	100,795	$	122,800	$	116,891	$	—	$	127	$	440,192

Acquisitions, Preliminary Purchase Price Accounting and Pro Forma Information (Tables)

3 Months Ended

Mar. 31, 2019

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 March 31, 2019 (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

	Three Months Ended
	March 31, 2018
Net operating revenues	$	658,006
Net income		14,441

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 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 March 31, 2019 (dollars in thousands):

Cash and cash equivalents	$	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 relationships valued at $28.8 million.

Schedule of Unaudited Pro Forma Information

	Three Months Ended
	March 31, 2018
Net operating revenues	$	480,387
Net income		24,790

Assets Held for Sale (Tables)

3 Months Ended

Mar. 31, 2019

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 (Loss) Income

The assets and liabilities held for sale, accounted for at carrying value as it was lower than fair value, were as follows as of December 31, 2018 (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 (loss) income of Presque Isle Downs and Nemacolin prior to the respective dispositions (in thousands):

	Three Months ended March 31, 2019						Three Months ended March 31, 2018
	Presque Isle Downs			Nemacolin			Presque Isle Downs		Nemacolin
Net operating revenues	$	3,235		$	4,836		$	33,177	$	8,494
Net (loss) income		(42	)		(754	)		2,135		(118	)

- 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.

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+ Details

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

3 Months Ended

Mar. 31, 2019

Share Based Compensation [Abstract]

Schedule of Share-based Compensation, Restricted Stock Units Activity

A summary of the restricted stock unit (RSU) activity for the three months ended March 31, 2019 is presented in the following table:

	Restricted Stock Units
	Units				Weighted- Average Grant Date Fair Value
					(in millions)
Unvested outstanding as of December 31, 2018		1,283,372		$		23.93
Granted (1)		352,869
Vested		(352,584	)
Unvested outstanding as of March 31, 2019		1,283,657		$		32.19

(1)

Included are 30,135 RSUs granted to non-employee members of the Board of Directors during the three months ended March 31, 2019.

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

3 Months Ended

Mar. 31, 2019

Other And Intangible Assets Net Disclosure [Abstract]

Schedule of Other and Intangible Assets, Net

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

	March 31,			December 31,
	2019			2018			Useful Life
Goodwill	$	1,008,316		$	1,008,316		Indefinite

Gaming licenses	$	1,090,682		$	1,090,682		Indefinite
Trade names		187,929			187,929		Indefinite
Player loyalty programs		105,005			105,005		3 - 4 years
Subtotal		1,383,616			1,383,616
Accumulated amortization player loyalty programs		(29,252	)		(21,610	)
Total gaming licenses and other intangible assets, net	$	1,354,364		$	1,362,006

Schedule of Other Assets, Net

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

	March 31,		December 31,
	2019		2018
CRDA bonds and deposits, net	$	6,403	$	6,694
Unamortized debt issuance costs - Revolving Credit Facility		8,992		9,533
Non-operating real property		16,852		17,880
Long-term prepaid rent		164		20,198
Restricted cash and investments		39,556		15,064
ROU assets (see Note 2)		282,363		—
Other		12,158		14,077
Total other assets, net	$	366,488	$	83,446

Long-Term Financing Obligation (Tables)

3 Months Ended

Mar. 31, 2019

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 March 31, 2019 were as follows (in thousands):

2019 (excluding the three months ended March 31, 2019)	$	66,034
2020		89,168
2021		90,417
2022		91,691
2023		92,990
Thereafter		3,506,672
Total future payments		3,936,972
Less: amounts representing interest at 10.22%		(3,394,567	)
Plus: residual values		420,100
Financing obligation to GLPI	$	962,505

Long-Term Debt (Tables)

3 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

Summary of Long-term Debt

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

	March 31,			December 31,
	2019			2018

Term Loan	$	956,750		$	956,750
Less: Unamortized discount and debt issuance costs		(17,679	)		(18,426	)
Net		939,071			938,324
6% Senior Notes due 2026		600,000			600,000
Less: Unamortized debt issuance costs		(19,485	)		(19,630	)
Net		580,515			580,370
6% Senior Notes due 2025		875,000			875,000
Plus: Unamortized debt premium		22,687			23,491
Less: Unamortized debt issuance costs		(17,803	)		(18,405	)
Net		879,884			880,086
7% Senior Notes due 2023		375,000			375,000
Less: Unamortized discount and debt issuance costs		(5,814	)		(6,075	)
Net		369,186			368,925
Revolving Credit Facility		40,000			245,000
Lumière Loan		246,000			246,000
Long-term notes and other payables		2,910			3,030
Less: Current portion		(415	)		(462	)
Total long-term debt	$	3,057,151		$	3,261,273

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

Schedule of Assets Measured at Fair Value on a Recurring Basis

	March 31, 2019
Assets:	Level 1		Level 2		Level 3			Total
Restricted cash and investments	$	19,775	$	3,050	$	41,775		$	64,600
Marketable securities		9,816		7,083		—			16,899

Liabilities:
Other liabilities related to restricted investments		—		—		(8,672	)		(8,672	)

	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

Schedule of Change in Restricted Investments Valued Using Level 3 Inputs

The change in restricted cash and investments valued using Level 3 inputs for the three months ended March 31, 2019 is as follows:

	Level 3 Investments			Level 3 Other Liabilities
Fair value of investment and liabilities at December 31, 2018	$	16,008		$	—
Value of additional investment received		27,329			(8,774	)
Change in other liabilities related to restricted investments		—			102
Unrealized loss in restricted investments		(1,562	)		—
Fair value at March 31, 2019	$	41,775		$	(8,672	)

Schedule of Estimated Fair Value of Financial Instruments

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

	March 31, 2019				December 31, 2018
	Carrying		Fair		Carrying		Fair
	Amount		Value		Amount		Value
Financial liabilities:
7% Senior Notes due 2023	$	369,186	$	392,812	$	368,925	$	385,312
6% Senior Notes due 2025		879,884		892,500		880,086		840,000
6% Senior Notes due 2026		580,515		594,000		580,370		567,000
Term Loan		939,071		947,183		938,324		916,088
Revolving Credit Facility		40,000		40,000		245,000		245,000
Lumière Loan		246,000		246,000		246,000		246,000
Other long-term debt		2,910		2,910		3,030		3,030

Earnings per Share (Tables)

3 Months Ended

Mar. 31, 2019

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

	Three Months Ended
	March 31,
	2019		2018

Net income available to common stockholders	$	38,229	$	20,855
Shares outstanding:
Weighted average shares outstanding – basic		77,567,147		77,353,730
Effect of dilutive securities:
Stock options		104,382		152,906
RSUs		917,581		573,413
Weighted average shares outstanding – diluted		78,589,110		78,080,049
Net income per common share attributable to common stockholders – basic:	$	0.49	$	0.27
Net income per common share attributable to common stockholders – diluted:	$	0.49	$	0.27

Segment Information (Tables)

3 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Summary of Reportable Segment

These segments are summarized as follows:

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) (b)	Pennsylvania
	Nemacolin	5/1/2017 (b)	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.

(b)

Presque Isle Downs was sold on January 11, 2019 and Nemacolin was sold on March 8, 2019.

Schedule of Operating Data for Reportable Segments

The following table sets forth, for the periods indicated, certain operating data for our five reportable segments.

	Three Months Ended
	Ended March 31,
	2019			2018
	(in thousands)
Revenues and expenses
West:
Net operating revenues	$	118,095		$	99,579
Depreciation and amortization		13,143			8,189
Operating income		10,801			10,139
Midwest:
Net operating revenues		96,787			100,795
Depreciation and amortization		8,421			7,645
Operating income		27,833			26,676
South:
Net operating revenues		132,714			122,800
Depreciation and amortization		11,015			8,531
Operating income		27,515			13,359
East:
Net operating revenues		166,233			116,891
Depreciation and amortization		12,149			6,049
Operating income		27,161			19,131
Central:
Net operating revenues		120,472			—
Depreciation and amortization		11,210			—
Operating income		27,070			—
Corporate:
Net operating revenues		1,522			127
Depreciation and amortization		1,819			1,120
Operating income (loss)		3,224			(15,111	)
Total Reportable Segments
Net operating revenues	$	635,823		$	440,192
Depreciation and amortization	$	57,757		$	31,534
Operating income	$	123,604		$	54,194
Reconciliations to consolidated net income:
Operating income	$	123,604		$	54,194
Unallocated income and expenses:
Interest expense, net		(73,510	)		(31,251	)
Unrealized loss on restricted investment		(1,460	)		—
Provision for income taxes		(10,405	)		(2,088	)
Net income	$	38,229		$	20,855

Schedule of Capital Expenditures, Net for Reportable Segments

	Three Months Ended March 31,
	2019		2018
	(in thousands)
Capital Expenditures, Net
West	$	16,054	$	10,181
Midwest		4,123		2,741
South		3,764		2,883
East		10,574		2,874
Central		2,668		—
Corporate		1,177		2,592
Total	$	38,360	$	21,271

Schedule of Balance Sheet Information for Reportable Segments

		West		Midwest		South		East		Central		Corporate, Other & Eliminations			Total
Balance sheet as of March 31, 2019	(in thousands)
Total assets		$	1,829,237	$	1,285,862	$	1,145,605	$	1,968,176	$	1,508,821	$	(1,623,183	)	$	6,114,518
Goodwill			220,861		322,745		213,150		177,486		74,074		—			1,008,316

Balance sheet as of December 31, 2018
Total assets		$	1,710,375	$	1,245,521	$	1,068,258	$	2,166,730	$	1,457,961	$	(1,737,383	)	$	5,911,462
Goodwill			220,861		322,745		213,150		177,486		74,074		—			1,008,316

Consolidating Condensed Financial Information (Tables)

3 Months Ended

Mar. 31, 2019

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Consolidating Condensed Balance Sheet

The consolidating condensed balance sheet as of March 31, 2019 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	$	69,364	$	294,777	$	24,184	$	(5,335	)	$	382,990
Intercompany receivables		—		235,559		21,914		(257,473	)		—
Investment in and advances to unconsolidated affiliates		130,338		1,902		—		—			132,240
Investments in subsidiaries		3,716,505		—		—		(3,716,505	)		—
Property and equipment, net		17,775		2,847,556		4,789		—			2,870,120
Other assets		63,993		2,673,033		24,574		(32,432	)		2,729,168
Total assets	$	3,997,975	$	6,052,827	$	75,461	$	(4,011,745	)	$	6,114,518

Current liabilities	$	94,871	$	283,102	$	16,706	$	(5,335	)	$	389,344
Intercompany payables		232,473		—		25,000		(257,473	)		—
Long-term financing obligation to GLPI		—		962,505		—		—			962,505
Long-term debt, less current maturities		2,435,971		621,180		—		—			3,057,151
Deferred income tax liabilities		—		236,454		—		(32,432	)		204,022
Other accrued liabilities		171,397		266,835		—		—			438,232
Stockholders’ equity		1,063,263		3,682,751		33,755		(3,716,505	)		1,063,264
Total liabilities and stockholders’ equity	$	3,997,975	$	6,052,827	$	75,461	$	(4,011,745	)	$	6,114,518

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	)		—
Investment in and advances to unconsolidated affiliates		—		1,892		—		—			1,892
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		2,423,807		26,674		(31,785	)		2,453,768
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

Consolidating Condensed Statements of Operations

The consolidating condensed statement of operations for the three months ended March 31, 2019 is as follows:

	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	$	—			466,441		$	4,410		$	—		$	470,851
Non-gaming		1,397			161,502			2,073			—			164,972
Net revenues		1,397			627,943			6,483			—			635,823

Operating expenses:
Gaming and pari-mutuel commissions		—			207,142			3,164			—			210,306
Non-gaming		—			94,884			400			—			95,284
Marketing and promotions		—			32,053			248			—			32,301
General and administrative		—			118,552			1,336			—			119,888
Corporate		16,141			529			84			—			16,754
Impairment charges		—			958			—			—			958
Management fee		(4,735	)		4,735			—			—			—
Depreciation and amortization		1,150			56,607			—			—			57,757
Total operating expenses		12,556			515,460			5,232			—			533,248

Gain on sale or disposal of property and equipment		409			21,396			513			—			22,318
Transaction expenses		(1,227	)		(475	)		(192	)		—			(1,894	)
Income (loss) from unconsolidated affiliates		655			(50	)		—			—			605
Operating (loss) income		(11,322	)		133,354			1,572			—			123,604

Interest expense, net		(37,432	)		(35,834	)		(244	)		—			(73,510	)
Unrealized loss on restricted investments		(1,460	)		—			—			—			(1,460	)
Subsidiary income (loss)		72,255			—			—			(72,255	)		—
Income (loss) before income taxes		22,041			97,520			1,328			(72,255	)		48,634
Income tax benefit (provision)		16,188			(26,265	)		(328	)		—			(10,405	)
Net income (loss)	$	38,229		$	71,255		$	1,000		$	(72,255	)	$	38,229

The consolidating condensed statement of operations for the three months ended March 31, 2018 is as follows:

	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	$	—		$	335,793		$	7,735		$	—		$	343,528
Non-gaming		—			94,023			2,641			—			96,664
Net revenues		—			429,816			10,376			—			440,192

Operating expenses:
Gaming and pari-mutuel commissions		—			164,303			5,248			—			169,551
Non-gaming		—			63,975			712			—			64,687
Marketing and promotions		—			20,835			466			—			21,301
General and administrative		—			72,427			1,775			—			74,202
Corporate		10,294			322			953			—			11,569
Impairment charges		—			9,815			—			—			9,815
Management fee		(5,137	)		5,137			—			—			—
Depreciation and amortization		772			30,601			161			—			31,534
Total operating expenses		5,929			367,415			9,315			—			382,659

Loss on sale or disposal of property and equipment		—			(706	)		—			—			(706	)
Transaction expenses		(2,118	)		(430	)		—			—			(2,548	)
Loss from unconsolidated affiliates		—			(85	)		—			—			(85	)
Operating (loss) income		(8,047	)		61,180			1,061			—			54,194

Interest expense, net		(24,432	)		(6,286	)		(533	)		—			(31,251	)
Subsidiary income (loss)		43,305			—			—			(43,305	)		—
Income (loss) before income taxes		10,826			54,894			528			(43,305	)		22,943
Income tax benefit (provision)		10,029			(12,303	)		186			—			(2,088	)
Net income (loss)	$	20,855		$	42,591		$	714		$	(43,305	)	$	20,855

Consolidating Condensed Statement of Cash Flows

The consolidating condensed statement of cash flows for the three months ended March 31, 2019 is as follows:

	Eldorado Resorts, Inc. (Parent Obligor)			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating and Eliminating Entries		Eldorado Resorts, Inc. Consolidated
	(in thousands)
Net cash provided by (used in) operating activities	$	13,524		$	53,239		$	(1,323	)	$	—	$	65,440
INVESTING ACTIVITIES:
Purchase of property and equipment, net		(1,154	)		(37,198	)		(8	)		—		(38,360	)
Proceeds from sale of property and equipment, net of cash sold		550			168,997			(1,602	)		—		167,945
Purchase of restricted investments		—			—			(80	)		—		(80	)
Net cash (used in) provided by investing activities		(604	)		131,799			(1,690	)		—		129,505
FINANCING ACTIVITIES:
Payments under Revolving Credit Facility		(205,000	)		—			—			—		(205,000	)
Net proceeds from (payments to) related parties		221,599			(223,672	)		2,073			—		—
Payments on other long-term payables		(23	)		(12	)		(83	)		—		(118	)
Debt issuance costs		(386	)		—			—			—		(386	)
Taxes paid related to net share settlement of equity awards		(4,322	)		—			—			—		(4,322	)
Net cash provided by (used in) financing activities		11,868			(223,684	)		1,990			—		(209,826	)
Increase (decrease) in cash, cash equivalents and restricted cash		24,788			(38,646	)		(1,023	)		—		(14,881	)
Cash, cash equivalents and restricted cash, beginning of period		12,844			222,672			11,175			—		246,691
Cash, cash equivalents and restricted cash, end of period	$	37,632		$	184,026		$	10,152		$	—	$	231,810

RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO AMOUNTS REPORTED WITHIN THE CONDENSED CONSOLIDATED BALANCE SHEETS:
Cash and cash equivalents	$	37,632			170,099			9,152		$	—	$	216,883
Restricted cash		—			7,892			—			—		7,892
Restricted and escrow cash included in other noncurrent assets		—			6,035			1,000			—		7,035
Total cash, cash equivalents and restricted cash	$	37,632		$	184,026		$	10,152		$	—	$	231,810

The consolidating condensed statement of cash flows for the three months ended March 31, 2018 is as follows:

	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	$	(7,128	)	$	87,253		$	(2,118	)	$	—	$	78,007
INVESTING ACTIVITIES:
Purchase of property and equipment, net		(1,233	)		(19,011	)		(1,027	)		—		(21,271	)
Proceeds from sale of property and equipment		—			150			—			—		150
Net cash used in investing activities		(1,233	)		(18,861	)		(1,027	)		—		(21,121	)
FINANCING ACTIVITIES:
Net proceeds from (payments to) related parties		62,560			(66,660	)		4,100			—		—
Payments on other long-term payables		(22	)		(78	)		(70	)		—		(170	)
Debt issuance costs		(304	)		—			—			—		(304	)
Taxes paid related to net share settlement of equity awards		(7,502	)		—			—			—		(7,502	)
Net cash provided by (used in) financing activities		54,732			(66,738	)		4,030			—		(7,976	)
INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH		46,371			1,654			885			—		48,910
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR		13,836			118,483			15,430			—		147,749
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD	$	60,207		$	120,137		$	16,315		$	—	$	196,659

RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO AMOUNTS REPORTED WITHIN THE CONDENSED CONSOLIDATED BALANCE SHEETS:
Cash and cash equivalents	$	59,490		$	116,394		$	7,254		$	—	$	183,138
Restricted cash		717			2,743			199			—		3,659
Restricted cash included in other noncurrent assets		—			1,000			8,862			—		9,862
TOTAL CASH, CASH EQUIVALENTS AND RESTRICTED CASH	$	60,207		$	120,137		$	16,315		$	—	$	196,659

Organization and Basis of Presentation - Additional information (Details) $ in Thousands		3 Months Ended		6 Months Ended
	Oct. 01, 2020	Mar. 31, 2019 USD ($) room Machine Game Terminal a Hotel segment	Sep. 30, 2018 Region segment	Jun. 30, 2018 Region segment	Oct. 01, 2018 property
Organization and Basis of Presentation
Number of geographic regions \| Region			4	4
Number of reportable segments \| segment		5	4	4
Operating Lease, ROU assets \| $		$ 282,363
Operating lease, liability \| $		287,130
Cumulative adjustmenst to retained earnings, net of tax \| $		$ 4,700
Isle Casino Hotel
Organization and Basis of Presentation
Number of room in hotel		238
Number of slot machines \| Machine		966
Number of table games \| Game		28
Number of table poker room		10
Number of acre owned \| a		10
Lady Luck Casino
Organization and Basis of Presentation
Number of room in hotel		164
Number of slot machines \| Machine		442
Number of table games \| Game		7
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 room in hotel		509
Number of slot machines \| Machine		969
Number of table games \| Game		15
Number of towers in hotel		2
Isle Casino Waterloo
Organization and Basis of Presentation
Number of room in hotel		194
Number of slot machines \| Machine		939
Number of table games \| Game		23
Isle of Capri Casino Hotel Lake Charles
Organization and Basis of Presentation
Number of room in hotel		493
Number of slot machines \| Machine		1,164
Number of table games \| Game		34
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 room in hotel		486
Number of slot machines \| Machine		862
Number of table games \| Game		25
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 room in hotel		140
Number of slot machines \| Machine		881
Number of table games \| Game		20
Isle Casino Cape Girardeau
Organization and Basis of Presentation
Number of slot machines \| Machine		863
Number of table games \| Game		20
Number of table poker room		4
Lady Luck Casino Caruthersville
Organization and Basis of Presentation
Number of slot machines \| Machine		507
Number of table games \| Game		9
Isle of Capri Casino Kansas City
Organization and Basis of Presentation
Number of slot machines \| Machine		938
Number of table games \| Game		13
Tropicana Casino and Resort - Atlanctic City
Organization and Basis of Presentation
Number of room in hotel		2,366
Number of slot machines \| Machine		2,464
Number of table games \| Game		107
Number of table poker room		18
Number of acre owned \| a		15
Tropicana Evansville
Organization and Basis of Presentation
Number of room in hotel		338
Number of slot machines \| Machine		1,128
Number of table games \| Game		33
Number of table poker room		8
Number of hotels \| Hotel		2
Lumiere Place Casino
Organization and Basis of Presentation
Number of room in hotel		494
Number of slot machines \| Machine		1,401
Number of table games \| Game		48
Number of table poker room		10
Number of acre owned \| a		20
Tropicana Laughlin
Organization and Basis of Presentation
Number of room in hotel		1,487
Number of slot machines \| Machine		895
Number of table games \| Game		20
Mont Bleu Casino Resort & Spa
Organization and Basis of Presentation
Number of room in hotel		438
Number of slot machines \| Machine		474
Number of table games \| Game		17
Number of acre owned \| a		21
Trop Casino Greenville
Organization and Basis of Presentation
Number of room in hotel		40
Number of slot machines \| Machine		590
Number of table games \| Game		10
Belle of Baton Rough
Organization and Basis of Presentation
Number of room in hotel		288
Number of slot machines \| Machine		773
Number of table games \| Game		14
Number of acre owned \| a		23
Grand Victoria Casino Elgin
Organization and Basis of Presentation
Number of slot machines \| Machine		1,088
Number of table games \| Game		30
Eldorado Reno
Organization and Basis of Presentation
Number of room in hotel		814
Number of slot machines \| Machine		1,117
Number of table games \| Game		36
Silver Legacy
Organization and Basis of Presentation
Number of slot machines \| Machine		1,685
Number of table games \| Game		48
Number of rooms in themed hotel		1,119
Number of table poker room		13
Eldorado Shreveport
Organization and Basis of Presentation
Number of slot machines \| Machine		1,388
Number of table games \| Game		52
Number of table poker room		8
Number of rooms in suite art deco-style hotel		403
Mountaineer
Organization and Basis of Presentation
Number of room in hotel		357
Number of slot machines \| Machine		1,486
Number of table games \| Game		36
Number of table poker room		10
Scioto Downs
Organization and Basis of Presentation
Number of room in hotel		118
Number of video lottery terminals \| Terminal		2,238
Isle of Capri
Organization and Basis of Presentation
Acquisition date	May 01, 2017
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

Leases - Additional information (Details)	3 Months Ended
Leases - Additional information (Details)	Mar. 31, 2019
Lessee Lease Description [Line Items]
Operating lease expected or initial term	12 months
Minimum
Lessee Lease Description [Line Items]
Options to extend lease term	1 month
Maximum
Lessee Lease Description [Line Items]
Options to extend lease term	60 years

Leases - Schedule of Leases Recorded on Balance Sheet (Details) $ in Thousands	Mar. 31, 2019 USD ($)
Assets
Operating lease ROU assets	$ 282,363
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:OtherAssetsNoncurrent
Finance lease ROU assets	$ 949,839
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:PropertyPlantAndEquipmentNet
Liabilities
Operating	$ 20,232
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherAccruedLiabilitiesCurrent
Finance	$ 314
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:LongTermDebtCurrent
Operating	$ 266,898
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesNoncurrent
Finance	$ 962,685
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	eri:LongTermFinancingObligationAndDebt

Leases - Schedule of Leases Recorded on Balance Sheet (Parenthetical) (Details) $ in Millions	Mar. 31, 2019 USD ($)
Leases [Abstract]
Finance lease ROU assets net of accumulated depreciation	$ 8.1

Leases - Schedule of Other Information Related to Lease Terms and Discount Rates (Details)	Mar. 31, 2019
Leases [Abstract]
Weighted Average Remaining Lease Term, Operating leases	34 years 7 months 6 days
Weighted Average Remaining Lease Term, Finance leases	34 years 6 months
Weighted Average Discount Rate, Operating leases	7.10%
Weighted Average Discount Rate, Finance leases	10.20%

Leases - Components of Lease Expense (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019 USD ($)
Operating lease cost
Operating lease cost	$ 7,456
Short-term and variable lease cost	1,975
Finance lease cost
Amortization of ROU assets	2,511
Interest expense on lease liabilities	24,603
Total lease cost	$ 36,545

Leases - Supplemental Cash Flow Information Related to Leases (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019 USD ($)
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$ 7,840
Operating cash flows for finance leases	$ 21,934

Leases - Summary of Maturities of Lease Liabilities (Details) $ in Thousands	Mar. 31, 2019 USD ($)
Operating Leases
2019 (excluding the three months ended March 31, 2019)	$ 21,216
2020	24,331
2021	22,698
2022	21,754
2023	21,783
Thereafter	832,524
Total future minimum lease payments	944,306
Less: amount representing interest	(657,176)
Present value of future minimum lease payments	287,130
Less: current lease obligations	(20,232)
Long-term lease obligations	266,898
Finance Leases
2019 (excluding the three months ended March 31, 2019)	66,370
2020	89,227
2021	90,463
2022	91,745
2023	92,990
Thereafter	3,506,672
Total future minimum lease payments	3,937,467
Less: amount representing interest	(3,394,568)
Present value of future minimum lease payments	542,899
Less: current lease obligations	(314)
Plus: residual values - GLPI	420,100
Long-term lease obligations	$ 962,685

Revenue Recognition - Summary of Net Revenues Disaggregated Type of Revenue and Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Disaggregation Of Revenue [Line Items]
Net revenues	$ 635,823	$ 440,192
Casino
Disaggregation Of Revenue [Line Items]
Net revenues	466,878	339,458
Pari-mutuel Commissions
Disaggregation Of Revenue [Line Items]
Net revenues	3,973	4,070
Food and Beverage
Disaggregation Of Revenue [Line Items]
Net revenues	75,209	52,198
Hotel
Disaggregation Of Revenue [Line Items]
Net revenues	64,691	30,741
Other
Disaggregation Of Revenue [Line Items]
Net revenues	25,072	13,725
Corporate
Disaggregation Of Revenue [Line Items]
Net revenues	1,522	127
Corporate \| Other
Disaggregation Of Revenue [Line Items]
Net revenues	1,522	127
West Segment \| Operating Segment
Disaggregation Of Revenue [Line Items]
Net revenues	118,095	99,579
West Segment \| Operating Segment \| Casino
Disaggregation Of Revenue [Line Items]
Net revenues	53,571	49,734
West Segment \| Operating Segment \| Food and Beverage
Disaggregation Of Revenue [Line Items]
Net revenues	27,906	23,211
West Segment \| Operating Segment \| Hotel
Disaggregation Of Revenue [Line Items]
Net revenues	27,415	19,430
West Segment \| Operating Segment \| Other
Disaggregation Of Revenue [Line Items]
Net revenues	9,203	7,204
Midwest Segment \| Operating Segment
Disaggregation Of Revenue [Line Items]
Net revenues	96,787	100,795
Midwest Segment \| Operating Segment \| Casino
Disaggregation Of Revenue [Line Items]
Net revenues	85,169	88,359
Midwest Segment \| Operating Segment \| Food and Beverage
Disaggregation Of Revenue [Line Items]
Net revenues	6,087	6,916
Midwest Segment \| Operating Segment \| Hotel
Disaggregation Of Revenue [Line Items]
Net revenues	3,622	3,637
Midwest Segment \| Operating Segment \| Other
Disaggregation Of Revenue [Line Items]
Net revenues	1,909	1,883
South Segment \| Operating Segment
Disaggregation Of Revenue [Line Items]
Net revenues	132,714	122,800
South Segment \| Operating Segment \| Casino
Disaggregation Of Revenue [Line Items]
Net revenues	105,819	97,509
South Segment \| Operating Segment \| Pari-mutuel Commissions
Disaggregation Of Revenue [Line Items]
Net revenues	3,531	3,409
South Segment \| Operating Segment \| Food and Beverage
Disaggregation Of Revenue [Line Items]
Net revenues	14,709	13,860
South Segment \| Operating Segment \| Hotel
Disaggregation Of Revenue [Line Items]
Net revenues	6,337	5,992
South Segment \| Operating Segment \| Other
Disaggregation Of Revenue [Line Items]
Net revenues	2,318	2,030
East Segment \| Operating Segment
Disaggregation Of Revenue [Line Items]
Net revenues	166,233	116,891
East Segment \| Operating Segment \| Casino
Disaggregation Of Revenue [Line Items]
Net revenues	124,509	103,856
East Segment \| Operating Segment \| Pari-mutuel Commissions
Disaggregation Of Revenue [Line Items]
Net revenues	442	661
East Segment \| Operating Segment \| Food and Beverage
Disaggregation Of Revenue [Line Items]
Net revenues	14,721	8,211
East Segment \| Operating Segment \| Hotel
Disaggregation Of Revenue [Line Items]
Net revenues	19,997	1,682
East Segment \| Operating Segment \| Other
Disaggregation Of Revenue [Line Items]
Net revenues	6,564	$ 2,481
Central Segment \| Operating Segment
Disaggregation Of Revenue [Line Items]
Net revenues	120,472
Central Segment \| Operating Segment \| Casino
Disaggregation Of Revenue [Line Items]
Net revenues	97,810
Central Segment \| Operating Segment \| Food and Beverage
Disaggregation Of Revenue [Line Items]
Net revenues	11,786
Central Segment \| Operating Segment \| Hotel
Disaggregation Of Revenue [Line Items]
Net revenues	7,320
Central Segment \| Operating Segment \| Other
Disaggregation Of Revenue [Line Items]
Net revenues	$ 3,556

Revenue Recognition - Summary of Activity Related to Contract and Contract Related Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Outstanding Chip Liability
Disaggregation Of Revenue [Line Items]
Balance at January 1	$ 8,930	$ 4,743
Balance at March 31	8,775	5,071
Increase / (decrease)	(155)	328
Player Loyalty Liability
Disaggregation Of Revenue [Line Items]
Balance at January 1	17,639	11,752
Balance at March 31	17,285	10,823
Increase / (decrease)	(354)	(929)
Customer Deposits and Other Deferred Revenue
Disaggregation Of Revenue [Line Items]
Balance at January 1	27,588	5,487
Balance at March 31	175,915	6,642
Increase / (decrease)	$ 148,327	$ 1,155

Acquisitions, Preliminary Purchase Price Accounting and Pro Forma Information - Tropicana Acquisition - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended
	Oct. 01, 2018	Mar. 31, 2019	Mar. 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%
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			$ 1,900,000
Cash consideration paid	$ 640,000
Purchase price of real property	927,300
Business acquisition, transaction costs		1,500	$ 1,000
Purchase consideration	927,333
Net revenues generated from the acquisition date		207,300
Net income (loss) generated from the acquisition date		$ 4,200
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, Premilinary Purchase Price Accounting and Pro Forma Information - Schedule of Purchase Consideration Calculation (Details) - USD ($) $ in Thousands	Oct. 01, 2018	Aug. 07, 2018
Tropicana Entertainment Inc
Business Acquisition [Line Items]
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
Elgin Acquisition
Business Acquisition [Line Items]
Cash consideration paid		$ 327,500
Working capital and other adjustments		1,304
Purchase consideration		$ 328,804

Acquisitions, Preliminary Purchase Price Accounting and Pro Forma Information - Summary of Purchase Consideration to Identifiable Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Apr. 15, 2018
Business Acquisition [Line Items]
Goodwill	$ 1,008,316	$ 1,008,316
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 to GLPI	(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

Acquisitions, Preliminary Purchase Price Accounting and Pro Forma Information - Summary of Purchase Consideration to Identifiable Assets Acquired and Liabilities Assumed (Parenthetical) (Details) $ in Thousands	Mar. 31, 2019 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 Relationships
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

Acquisitions, Preliminary Purchase Price Accounting and Pro Forma Information - Elgin - Additional Information (Details) - Elgin Acquisition - USD ($)		3 Months Ended
	Aug. 07, 2018	Mar. 31, 2019	Mar. 31, 2018
Business Acquisition [Line Items]
Acquisition date		Aug. 07, 2018
Cash consideration paid	$ 327,500,000
Percentage of partnership interest	100.00%
Working capital and other adjustments	$ 1,304,000
Business acquisition, transaction costs		$ 31,000	$ 600,000
Purchase consideration	$ 328,804,000
Net revenues generated from the acquisition date		37,000,000
Net income (loss) generated from the acquisition date		$ 5,500,000
Player Loyalty Programs
Business Acquisition [Line Items]
Estimated useful life		4 years

Acquisitions, Preliminary Purchase Price Accounting and Pro Forma Information - Unaudited Pro Forma Information - (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018 USD ($)
Tropicana Entertainment Inc
Business Acquisition [Line Items]
Net operating revenues	$ 658,006
Net income	14,441
Elgin Acquisition
Business Acquisition [Line Items]
Net operating revenues	480,387
Net income	$ 24,790

Assets Held for Sale - Additional information (Details) - USD ($) $ in Thousands		3 Months Ended
	Jul. 06, 2018	Mar. 31, 2019	Sep. 30, 2018	Mar. 31, 2018	Aug. 10, 2018	Feb. 28, 2018
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Impairment charges		$ 958		$ 9,815
Nemacolin
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Gain (loss) on sale		500
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
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
Impairment charge of net assets being sold			$ 3,800
Vicksburg's \| Churchill Downs Incorporated
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Impairment charges		9,800
Presque Isle Downs
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Gain (loss) on sale		$ 21,600
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
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

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 (Loss) Income (Details) - Disposal Group, Held-for-sale, Not Discontinued Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Presque Isle Downs
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Net operating revenues	$ 3,235	$ 33,177
Net (loss) income	(42)	2,135
Nemacolin
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Net operating revenues	4,836	8,494
Net (loss) income	$ (754)	$ (118)

Stock-Based Compensation and Stockholder's Equity - Additional Information (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018	Nov. 30, 2018	Jun. 30, 2018	May 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock, shares authorized	200,000,000		200,000,000			100,000,000
Common stock, par value per share	$ 0.00001		$ 0.00001
Common stock, shares authorized subject to approval					200,000,000
Stock-based compensation expense	$ 4,948,000	$ 3,679,000
Reduction in income tax expense related to stock based compensation	$ 2,600,000	3,400,000
Options outstanding, shares	135,956
Options exercisable, shares	119,505
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation expense	$ 28,600,000	$ 16,600,000
Recognition period of unrecognized compensation cost	1 year 10 months 24 days	1 year 6 months 29 days
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	0		223,823
Common stock acquired value			$ 9,100,000
Common stock acquired average price per share			$ 40.80

Stock-Based Compensation and Stockholder's Equity - Schedule of Share-based Compensation, Restricted Stock Units Activity (Details) - Restricted Stock Units (RSUs)	3 Months Ended
	Mar. 31, 2019 $ / shares shares
Restricted Stock Units
Outstanding at the beginning of the Period (in shares)	1,283,372
Granted (in shares)	352,869
Vested (in shares)	(352,584)
Outstanding at the end of the Period (in shares)	1,283,657
Weighted-Average Grant Date Fair Value
Unvested outstanding as of beginning of period \| $ / shares	$ 23.93
Unvested outstanding as of end of period \| $ / shares	$ 32.19

Stock-Based Compensation and Stockholder's Equity - Schedule of Share-based Compensation, Restricted Stock Units Activity (Parenthetical) (Details) - Restricted Stock Units (RSUs)	3 Months Ended
	Mar. 31, 2019 shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
RSUs granted	352,869
Non-Employee Members of BOD
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
RSUs granted	30,135

Investments in and Advances to Unconsolidated Affiliates - Additional Information (Details) shares in Millions		1 Months Ended			3 Months Ended
	Jan. 29, 2019 USD ($)	Sep. 30, 2018	Apr. 30, 2018 USD ($)	Nov. 30, 2017 USD ($)	Mar. 31, 2019 USD ($) a room	Jan. 31, 2019 shares	Dec. 31, 2018 USD ($)
Investment in Unconsolidated Affiliates
Investments in and advance to affiliates, subsidiaries, associates, and joint ventures					$ 132,240,000		$ 1,892,000
Receivable from partnership					3,130,000		327,000
Pompano Joint Venture
Investment in Unconsolidated Affiliates
Variable interest entity, ownership percentage			50.00%
Investments in and advance to affiliates, subsidiaries, associates, and joint ventures					700,000		600,000
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
Receivable from partnership					3,100,000
Agreement period		25 years
Agreement effective date	Jan. 29, 2019
Percentage of equity stake						20.00%
Equity stake value in ordinary shares \| shares						13.4
William Hill US
Investment in Unconsolidated Affiliates
Investments in and advance to affiliates, subsidiaries, associates, and joint ventures					$ 130,300,000
Fair value of initial investment	$ 128,900,000
Recognizing revenue on straight-line basis over a period					25 years
Recognized revenue					$ 800,000
William Hill US \| Other Long Term Liabilities
Investment in Unconsolidated Affiliates
Deferred revenue					$ 128,100,000
William Hill PLC
Investment in Unconsolidated Affiliates
Agreement period		25 years
Equity stake value in ordinary shares \| shares						13.4
Recognizing revenue on straight-line basis over a period					25 years
Recognized revenue					$ 200,000
Fair value of restricted investments					24,400,000
Unrealized loss					2,800,000
William Hill PLC \| Other Long Term Liabilities
Investment in Unconsolidated Affiliates
Deferred revenue					27,100,000
Hampton Inn & Suites
Investment in Unconsolidated Affiliates
Investments in and advance to affiliates, subsidiaries, associates, and joint ventures					$ 1,200,000		1,300,000
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					$ 100,000		$ 300,000

Intangible Assets, Net and Other Long Term Assets - Schedule of Other and Intangible Assets, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Goodwill	$ 1,008,316	$ 1,008,316
Goodwill, useful life	Indefinite
Intangible assets, excluding goodwill- gross	$ 1,383,616	1,383,616
Total gaming licenses and other intangible assets, net	1,354,364	1,362,006
Player Loyalty Program
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Finite-intangible assets, excluding goodwill- gross	105,005	105,005
Accumulated amortization	$ (29,252)	(21,610)
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	1,090,682
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	$ 187,929
Indefinite intangible assets, useful life	Indefinite

Intangible Assets, Net and Other Long Term Assets - Additional Information (Details) $ in Thousands, shares in Millions	1 Months Ended			3 Months Ended
	Jan. 31, 2019 shares	Nov. 30, 2018 USD ($) shares	Sep. 30, 2018	Mar. 31, 2019 USD ($) a	Mar. 31, 2018 USD ($)	Dec. 31, 2018 USD ($)	Jan. 31, 2018 USD ($)
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Impairment charges				$ 958	$ 9,815
Contractual term maturity				40 years
Area of real property leased \| a				20
Pre-payment of lease rent				$ 164		$ 20,198
TSG
Finite Lived And Indefinite Lived Intangible Assets By Major Class [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
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
Recognized revenue				400
TSG \| Restricted Cash and Investments
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Fair value, total				17,300
TSG \| Other Long Term Liabilities
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Deferred revenue				18,200
Pennsylvania
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Impairment charges				$ 1,000
Indiana \| Tropicana Evansville
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
William Hill
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Agreement period			25 years
Equity stake value in ordinary shares \| shares	13.4
William Hill \| TSG \| Restricted Cash and Investments
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Net of liability				$ 8,700
William Hill PLC
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Agreement period			25 years
Recognized revenue				200
Agreement effective month and year	2019-01
Equity stake value in ordinary shares \| shares	13.4
Unrealized loss				2,800
William Hill PLC \| Other Assets, Net
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Fair value, total				24,400
Unrealized loss				2,800
Vicksburg's \| Churchill Downs Incorporated
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Impairment charges				9,800
Player Loyalty Program
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Amortization expense				7,600	$ 1,600
Remainder of 2019				23,000
2020				27,400
2021				21,200
2022				$ 4,200

Intangible Assets, Net and Other Long Term Assets - Schedule of Other Assets, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Unamortized debt issuance costs - Revolving Credit Facility	$ 8,992	$ 9,533
Non-operating real property	16,852	17,880
Long-term prepaid rent	164	20,198
Restricted cash and investments	39,556	15,064
ROU assets (see Note 2)	282,363
Other	12,158	14,077
Total other assets, net	366,488	83,446
CRDA
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
CRDA bonds and deposits, net	$ 6,403	$ 6,694

Income Taxes - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income tax (benefit) expense	$ 10,405,000	$ 2,088,000
Unrecognized Tax Benefits	$ 0

Long-Term Financing Obligation - Additional Information (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019 USD ($)
Sale Leaseback Transaction [Line Items]
Lease term	35 years
Imputed discount rate	10.22%
Lessee, Operating Lease, Term of Contract	12 months
Percentage of master lease on annual basic	2.00%
Master Lease
Sale Leaseback Transaction [Line Items]
Lessee, Operating Lease, Term of Contract	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	$ 13.4
Master Lease \| Building
Sale Leaseback Transaction [Line Items]
Base rent	$ 60.9
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	$ 13.4
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	$ 87.6
Lease payments	21.9
Lease expense	$ 24.6

Long-Term Financing Obligation - Schedule of Future Minimum Payments Related to Master Lease Financing Obligation (Details) $ in Thousands	Mar. 31, 2019 USD ($)
Leases [Abstract]
2019 (excluding the three months ended March 31, 2019)	$ 66,034
2020	89,168
2021	90,417
2022	91,691
2023	92,990
Thereafter	3,506,672
Total future payments	3,936,972
Less: amounts representing interest at 10.22%	(3,394,567)
Plus: residual values	420,100
Financing obligation to GLPI	$ 962,505

Long-Term Financing Obligation - Schedule of Future Minimum Payments Related to Master Lease Financing Obligation (Parenthetical) (Details)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Interest rate	10.22%

Long-Term Debt - Summary of Long-term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Sep. 20, 2018	Sep. 13, 2017	Mar. 29, 2017	Jul. 23, 2015
Long-term debt
Less: Unamortized debt issuance costs	$ (8,992)	$ (9,533)
Long-term notes and other payables	2,910	3,030
Less: Current portion	(415)	(462)
Long-term debt, noncurrent	3,057,151	3,261,273
Term Loan
Long-term debt
Long-term debt, gross	956,750	956,750
Less: Unamortized discount and debt issuance costs	(17,679)	(18,426)
Long-term Debt	939,071	938,324
6% Senior Notes due 2026
Long-term debt
Long-term debt, gross	600,000	600,000	$ 600,000
Less: Unamortized discount and debt issuance costs	(19,485)	(19,630)
Long-term Debt	580,515	580,370
6% Senior Notes due 2025
Long-term debt
Long-term debt, gross	875,000	875,000		$ 500,000	$ 375,000
Plus: Unamortized debt premium	22,687	23,491
Less: Unamortized debt issuance costs	(17,803)	(18,405)
Long-term Debt	879,884	880,086
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	(5,814)	(6,075)
Long-term Debt	369,186	368,925
Revolving Credit Facility
Long-term debt
Revolving Credit Facility	40,000	245,000
Lumière Loan
Long-term debt
Lumière Loan	$ 246,000	$ 246,000

Long-Term Debt - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Debt Disclosure [Abstract]
Amortization of deferred financing costs, discount and debt premium	$ 1.9	$ 1.3
Scheduled maturities of long-term debt for remainder of 2019	0.4
Scheduled maturities of long-term debt in 2020	246.2
Scheduled maturities of long-term debt in 2021	0.2
Scheduled maturities of long-term debt in 2022	0.2
Scheduled maturities of long-term debt in 2023	415.1
Scheduled maturities of long-term debt in thereafter	$ 2,400.0

Long-Term Debt - Term Loan and Revolving Credit Facility - Additional Information (Details) - USD ($)		3 Months Ended
	Sep. 13, 2017	Mar. 31, 2019	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%.
6% Senior Notes
Long-term debt
Interest rate (as a percent)	6.00%
Term Loan
Long-term debt
Credit facility			$ 1,450,000,000
Credit facility maturity date		Apr. 17, 2024
Credit facility quarterly principal payments		$ 3,600,000
Credit facility principal prepayment	$ 444,500,000
Amount outstanding		$ 956,800,000
Interest rates		4.88%
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%
Revolving Credit Facility
Long-term debt
Credit facility			$ 500,000,000
Credit facility maturity date		Oct. 01, 2023
Amount outstanding		$ 40,000,000
Available borrowing capacity		$ 447,700,000
Interest rates		4.50%
Commitment fee on unused portion of the credit facility		0.50%
Revolving Credit Facility \| Presque Isle Downs
Long-term debt
Repayment of outstanding debt from property sale proceeds		$ 150,000,000
Revolving Credit Facility \| Minimum \| LIBOR
Long-term debt
Spread on variable rate (as a percent)		1.75%
Revolving Credit Facility \| Minimum \| Base rate
Long-term debt
Spread on variable rate (as a percent)		0.75%
Revolving Credit Facility \| Maximum \| LIBOR
Long-term debt
Spread on variable rate (as a percent)		2.50%
Revolving Credit Facility \| Maximum \| Base rate
Long-term debt
Spread on variable rate (as a percent)		1.50%
Letter of Credit
Long-term debt
Amount outstanding		$ 12,300,000

Long-Term Debt - 6% Senior Notes due 2026 - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended
	Oct. 01, 2018	Mar. 31, 2019	Dec. 31, 2018	Sep. 20, 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%.
6% Senior Notes due 2026
Long-term debt
Long-term debt, gross		$ 600,000	$ 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 every semi-annually in arrears on March 15 and September 15.

Long-Term Debt - 6% Senior Notes due 2025 - Additional Information (Details) - USD ($) $ in Thousands			3 Months Ended
	Oct. 01, 2020	Sep. 13, 2017	Mar. 31, 2019	Dec. 31, 2018	Mar. 29, 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%.
Repayment of credit facility			$ 205,000
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	$ 875,000	$ 875,000	$ 375,000
Interest rate (as a percent)			6.00%		6.00%
Senior notes, maturity date			Apr. 01, 2025
Debt instrument interest rate terms			The 6% Senior Notes due 2025 will mature on April 1, 2025, with interest payable semi-annually in arrears on April 1 and October 1
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

Long-Term Debt - 7% Senior Notes due 2023 - Additional Information (Details) - 7% Senior Notes due 2023 - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Jul. 23, 2015
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

Long-Term Debt - Lumiere Loan - Additional Information (Details) - Lumière Loan - USD ($) $ in Thousands	Oct. 01, 2020	Oct. 01, 2019	Mar. 31, 2019	Dec. 31, 2018
Long-term debt
Loan amount to fund real property			$ 246,000	$ 246,000
Scenario Forecast
Long-term debt
Interest rate	9.27%	9.09%
Minimum
Long-term debt
Loan amount to fund real property			246,000
Gaming and Leisure Properties
Long-term debt
Loan amount to fund real property			$ 246,000

Fair Value Measurements - Additional Information (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
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
Accrued Other Liabilities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Acquisition related contingent considerations	$ 500,000	$ 500,000

Fair Value Measurements - Schedule of Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Assets:
Restricted cash and investments	$ 39,556	$ 15,064
Fair Value Recurring Basis
Assets:
Restricted cash and investments	64,600	39,956
Marketable securities	16,899	16,957
Liabilities:
Other liabilities related to restricted investments	(8,672)
Fair Value Recurring Basis \| Level 1
Assets:
Restricted cash and investments	19,775	19,481
Marketable securities	9,816	9,515
Fair Value Recurring Basis \| Level 2
Assets:
Restricted cash and investments	3,050	4,467
Marketable securities	7,083	7,442
Fair Value Recurring Basis \| Level 3
Assets:
Restricted cash and investments	41,775	$ 16,008
Liabilities:
Other liabilities related to restricted investments	$ (8,672)

Fair Value Measurements - Schedule of Change in Restricted Investments Valued Using Level 3 Inputs (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019 USD ($)
Other Liabilities
Fair Value, Liabilities
Value of additional investment received	$ (8,774)
Change in other liabilities related to restricted investments	102
Fair value liabilities, ending balance	(8,672)
Restricted Investments
Fair Value, Assets
Fair value assets, beginning balance	16,008
Value of additional investment received	27,329
Unrealized loss in restricted investments	(1,562)
Fair value assets, ending balance	$ 41,775

Fair Value Measurements - Summary of Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Carrying Amount \| 7% Senior Notes due 2023
Financial liabilities:
Long-term debt	$ 369,186	$ 368,925
Carrying Amount \| 6% Senior Notes due 2025
Financial liabilities:
Long-term debt	879,884	880,086
Carrying Amount \| 6% Senior Notes due 2026
Financial liabilities:
Long-term debt	580,515	580,370
Carrying Amount \| Term Loan
Financial liabilities:
Long-term debt	939,071	938,324
Carrying Amount \| Revolving Credit Facility
Financial liabilities:
Long-term debt	40,000	245,000
Carrying Amount \| Lumière Loan
Financial liabilities:
Long-term debt	246,000	246,000
Carrying Amount \| Other long-term debt
Financial liabilities:
Long-term debt	2,910	3,030
Fair Value \| 7% Senior Notes due 2023
Financial liabilities:
Long-term debt	392,812	385,312
Fair Value \| 6% Senior Notes due 2025
Financial liabilities:
Long-term debt	892,500	840,000
Fair Value \| 6% Senior Notes due 2026
Financial liabilities:
Long-term debt	594,000	567,000
Fair Value \| Term Loan
Financial liabilities:
Long-term debt	947,183	916,088
Fair Value \| Revolving Credit Facility
Financial liabilities:
Long-term debt	40,000	245,000
Fair Value \| Lumière Loan
Financial liabilities:
Long-term debt	246,000	246,000
Fair Value \| Other long-term debt
Financial liabilities:
Long-term debt	$ 2,910	$ 3,030

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
	Mar. 31, 2019	Mar. 31, 2018
Net income available to common stockholders	$ 38,229	$ 20,855
Shares outstanding:
Weighted average shares outstanding – basic	77,567,147	77,353,730
Weighted average shares outstanding – diluted	78,589,110	78,080,049
Net income per common share attributable to common stockholders – basic:	$ 0.49	$ 0.27
Net income per common share attributable to common stockholders – diluted:	$ 0.49	$ 0.27
Stock Options
Shares outstanding:
Effect of dilutive securities	104,382	152,906
Restricted Stock Units (RSUs)
Shares outstanding:
Effect of dilutive securities	917,581	573,413

- Definition

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

+ References

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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

Related Affiliates - Additional Information (Details)	3 Months Ended
Related Affiliates - Additional Information (Details)	Mar. 31, 2019 USD ($) a	Mar. 31, 2018 USD ($)	Dec. 31, 2018 USD ($)
Related affiliates
Area of real property leased \| a	20
REI
Related affiliates
Percentage of outstanding shares owned	14.40%
Gary Carano Family
Related affiliates
Related party transactions	$ 0	$ 0
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
Due to related parties	0		$ 0
Due from related parties	$ 0		$ 0

Segment Information - Additional Information (Details)	3 Months Ended		6 Months Ended
Segment Information - Additional Information (Details)	Mar. 31, 2019 segment	Sep. 30, 2018 Region segment	Jun. 30, 2018 Region segment
Segment Reporting [Abstract]
Number of geographic regions \| Region		4	4
Number of reportable segments \| segment	5	4	4

Segment Information - Summary of Reportable Segment (Details)	3 Months Ended
	Mar. 31, 2019
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
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
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
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
Central Segment \| Elgin \| ILLINOIS
Segment Reporting Information [Line Items]
Property	Elgin
Date Acquired	Aug. 07, 2018
State	Illinois
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

Segment Information - Schedule of Operating Data for Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues and expenses
Net operating revenues	$ 635,823	$ 440,192
Depreciation and amortization	57,757	31,534
Operating income (loss)	123,604	54,194
Unallocated income and expenses:
Interest expense, net	(73,510)	(31,251)
Unrealized loss on restricted investment	(1,460)
Provision for income taxes	(10,405)	(2,088)
Net income	38,229	20,855
Operating Segment \| West Segment
Revenues and expenses
Net operating revenues	118,095	99,579
Depreciation and amortization	13,143	8,189
Operating income (loss)	10,801	10,139
Operating Segment \| Midwest Segment
Revenues and expenses
Net operating revenues	96,787	100,795
Depreciation and amortization	8,421	7,645
Operating income (loss)	27,833	26,676
Operating Segment \| South Segment
Revenues and expenses
Net operating revenues	132,714	122,800
Depreciation and amortization	11,015	8,531
Operating income (loss)	27,515	13,359
Operating Segment \| East Segment
Revenues and expenses
Net operating revenues	166,233	116,891
Depreciation and amortization	12,149	6,049
Operating income (loss)	27,161	19,131
Operating Segment \| Central Segment
Revenues and expenses
Net operating revenues	120,472
Depreciation and amortization	11,210
Operating income (loss)	27,070
Corporate
Revenues and expenses
Net operating revenues	1,522	127
Depreciation and amortization	1,819	1,120
Operating income (loss)	$ 3,224	$ (15,111)

Segment Information - Schedule of Capital Expenditures, Net of Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Information [Line Items]
Capital Expenditures, Net	$ 38,360	$ 21,271
Operating Segment \| West Segment
Segment Reporting Information [Line Items]
Capital Expenditures, Net	16,054	10,181
Operating Segment \| Midwest Segment
Segment Reporting Information [Line Items]
Capital Expenditures, Net	4,123	2,741
Operating Segment \| South Segment
Segment Reporting Information [Line Items]
Capital Expenditures, Net	3,764	2,883
Operating Segment \| East Segment
Segment Reporting Information [Line Items]
Capital Expenditures, Net	10,574	2,874
Operating Segment \| Central Segment
Segment Reporting Information [Line Items]
Capital Expenditures, Net	2,668
Corporate
Segment Reporting Information [Line Items]
Capital Expenditures, Net	$ 1,177	$ 2,592

Segment Information - Schedule of Balance Sheet Information for Reportable Segments (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	$ 6,114,518	$ 5,911,462
Goodwill	1,008,316	1,008,316
Corporate, Other & Eliminations
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	(1,623,183)	(1,737,383)
West Segment
Segment Reporting Asset Reconciling Item [Line Items]
Goodwill	220,861	220,861
West Segment \| Operating Segment
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	1,829,237	1,710,375
Midwest Segment
Segment Reporting Asset Reconciling Item [Line Items]
Goodwill	322,745	322,745
Midwest Segment \| Operating Segment
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	1,285,862	1,245,521
South Segment
Segment Reporting Asset Reconciling Item [Line Items]
Goodwill	213,150	213,150
South Segment \| Operating Segment
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	1,145,605	1,068,258
East Segment
Segment Reporting Asset Reconciling Item [Line Items]
Goodwill	177,486	177,486
East Segment \| Operating Segment
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	1,968,176	2,166,730
Central Segment
Segment Reporting Asset Reconciling Item [Line Items]
Goodwill	74,074	74,074
Central Segment \| Operating Segment
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	$ 1,508,821	$ 1,457,961

Consolidating Condensed Financial Information - Additional Information (Details)	Mar. 31, 2019	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	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Condensed Balance Sheet
Current assets	$ 382,990	$ 573,196
Investment in and advances to unconsolidated affiliates	132,240	1,892
Property and equipment, net	2,870,120	2,882,606
Other assets	2,729,168	2,453,768
Total assets	6,114,518	5,911,462
Current liabilities	389,344	402,177
Long-term financing obligation to GLPI	962,505	959,835
Long-term debt, less current maturities	3,057,151	3,261,273
Deferred income tax liabilities	204,022	200,010
Other accrued liabilities	438,232	59,014
Stockholders’ equity	1,063,264	1,029,153	$ 958,629	$ 941,597
Total liabilities and stockholders’ equity	6,114,518	5,911,462
Reportable Legal Entities \| Eldorado Resorts, Inc. (Parent Obligor)
Condensed Balance Sheet
Current assets	69,364	48,268
Investment in and advances to unconsolidated affiliates	130,338
Investments in subsidiaries	3,716,505	3,648,961
Property and equipment, net	17,775	18,555
Other assets	63,993	35,072
Total assets	3,997,975	3,750,856
Current liabilities	94,871	48,579
Intercompany payables	232,473	10,873
Long-term debt, less current maturities	2,435,971	2,640,046
Other accrued liabilities	171,397	22,206
Stockholders’ equity	1,063,263	1,029,152
Total liabilities and stockholders’ equity	3,997,975	3,750,856
Reportable Legal Entities \| Guarantor Subsidiaries
Condensed Balance Sheet
Current assets	294,777	497,309
Intercompany receivables	235,559	11,885
Investment in and advances to unconsolidated affiliates	1,902	1,892
Property and equipment, net	2,847,556	2,859,271
Other assets	2,673,033	2,423,807
Total assets	6,052,827	5,794,164
Current liabilities	283,102	328,319
Long-term financing obligation to GLPI	962,505	959,835
Long-term debt, less current maturities	621,180	621,193
Deferred income tax liabilities	236,454	231,795
Other accrued liabilities	266,835	36,808
Stockholders’ equity	3,682,751	3,616,214
Total liabilities and stockholders’ equity	6,052,827	5,794,164
Reportable Legal Entities \| Non-Guarantor Subsidiaries
Condensed Balance Sheet
Current assets	24,184	27,619
Intercompany receivables	21,914	23,988
Property and equipment, net	4,789	4,780
Other assets	24,574	26,674
Total assets	75,461	83,061
Current liabilities	16,706	25,279
Intercompany payables	25,000	25,000
Long-term debt, less current maturities		34
Stockholders’ equity	33,755	32,748
Total liabilities and stockholders’ equity	75,461	83,061
Consolidating and Eliminating Entries
Condensed Balance Sheet
Current assets	(5,335)
Intercompany receivables	(257,473)	(35,873)
Investments in subsidiaries	(3,716,505)	(3,648,961)
Other assets	(32,432)	(31,785)
Total assets	(4,011,745)	(3,716,619)
Current liabilities	(5,335)
Intercompany payables	(257,473)	(35,873)
Deferred income tax liabilities	(32,432)	(31,785)
Stockholders’ equity	(3,716,505)	(3,648,961)
Total liabilities and stockholders’ equity	$ (4,011,745)	$ (3,716,619)

Consolidating Condensed Financial Information - Consolidating Condensed Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues:
Net revenues	$ 635,823	$ 440,192
Operating expenses:
Marketing and promotions	32,301	21,301
General and administrative	119,888	74,202
Corporate	16,754	11,569
Impairment charges	958	9,815
Depreciation and amortization	57,757	31,534
Total operating expenses	533,248	382,659
Gain (Loss) on sale or disposal of property and equipment	22,318	(706)
Transaction expenses	(1,894)	(2,548)
Income (loss) from unconsolidated affiliates	605	(85)
Operating (loss) income	123,604	54,194
Interest expense, net	(73,510)	(31,251)
Unrealized loss on restricted investments	(1,460)
Income before income taxes	48,634	22,943
Income tax benefit (provision)	(10,405)	(2,088)
Net income	38,229	20,855
Gaming and Pari-mutuel Commissions
Revenues:
Net revenues	470,851	343,528
Operating expenses:
Operating expenses	210,306	169,551
Non-gaming
Revenues:
Net revenues	164,972	96,664
Operating expenses:
Operating expenses	95,284	64,687
Reportable Legal Entities \| Eldorado Resorts, Inc. (Parent Obligor)
Revenues:
Net revenues	1,397
Operating expenses:
Corporate	16,141	10,294
Management fee	(4,735)	(5,137)
Depreciation and amortization	1,150	772
Total operating expenses	12,556	5,929
Gain (Loss) on sale or disposal of property and equipment	409
Transaction expenses	(1,227)	(2,118)
Income (loss) from unconsolidated affiliates	655
Operating (loss) income	(11,322)	(8,047)
Interest expense, net	(37,432)	(24,432)
Unrealized loss on restricted investments	(1,460)
Subsidiary income (loss)	72,255	43,305
Income before income taxes	22,041	10,826
Income tax benefit (provision)	16,188	10,029
Net income	38,229	20,855
Reportable Legal Entities \| Guarantor Subsidiaries
Revenues:
Net revenues	627,943	429,816
Operating expenses:
Marketing and promotions	32,053	20,835
General and administrative	118,552	72,427
Corporate	529	322
Impairment charges	958	9,815
Management fee	4,735	5,137
Depreciation and amortization	56,607	30,601
Total operating expenses	515,460	367,415
Gain (Loss) on sale or disposal of property and equipment	21,396	(706)
Transaction expenses	(475)	(430)
Income (loss) from unconsolidated affiliates	(50)	(85)
Operating (loss) income	133,354	61,180
Interest expense, net	(35,834)	(6,286)
Income before income taxes	97,520	54,894
Income tax benefit (provision)	(26,265)	(12,303)
Net income	71,255	42,591
Reportable Legal Entities \| Non-Guarantor Subsidiaries
Revenues:
Net revenues	6,483	10,376
Operating expenses:
Marketing and promotions	248	466
General and administrative	1,336	1,775
Corporate	84	953
Depreciation and amortization		161
Total operating expenses	5,232	9,315
Gain (Loss) on sale or disposal of property and equipment	513
Transaction expenses	(192)
Operating (loss) income	1,572	1,061
Interest expense, net	(244)	(533)
Income before income taxes	1,328	528
Income tax benefit (provision)	(328)	186
Net income	1,000	714
Reportable Legal Entities \| Gaming and Pari-mutuel Commissions \| Guarantor Subsidiaries
Revenues:
Net revenues	466,441	335,793
Operating expenses:
Operating expenses	207,142	164,303
Reportable Legal Entities \| Gaming and Pari-mutuel Commissions \| Non-Guarantor Subsidiaries
Revenues:
Net revenues	4,410	7,735
Operating expenses:
Operating expenses	3,164	5,248
Reportable Legal Entities \| Non-gaming \| Eldorado Resorts, Inc. (Parent Obligor)
Revenues:
Net revenues	1,397
Reportable Legal Entities \| Non-gaming \| Guarantor Subsidiaries
Revenues:
Net revenues	161,502	94,023
Operating expenses:
Operating expenses	94,884	63,975
Reportable Legal Entities \| Non-gaming \| Non-Guarantor Subsidiaries
Revenues:
Net revenues	2,073	2,641
Operating expenses:
Operating expenses	400	712
Consolidating and Eliminating Entries
Operating expenses:
Subsidiary income (loss)	(72,255)	(43,305)
Income before income taxes	(72,255)	(43,305)
Net income	$ (72,255)	$ (43,305)

Consolidating Condensed Financial Information - Consolidating Condensed Statement of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Condensed Statement of Cash Flows
Net cash provided by (used in) operating activities	$ 65,440	$ 78,007
INVESTING ACTIVITIES:
Purchase of property and equipment, net	(38,360)	(21,271)
Proceeds from sale of property and equipment, net of cash sold	167,945	150
Purchase of restricted investments	(80)
Net cash provided by (used in) investing activities	129,505	(21,121)
FINANCING ACTIVITIES:
Payments under Revolving Credit Facility	(205,000)
Payments on other long-term payables	(118)	(170)
Debt issuance costs	(386)	(304)
Taxes paid related to net share settlement of equity awards	(4,322)	(7,502)
Net cash used in financing activities	(209,826)	(7,976)
(Decrease) Increase in cash, cash equivalents and restricted cash	(14,881)	48,910
Cash, cash equivalents and restricted cash, beginning of period	246,691	147,749
Cash, cash equivalents and restricted cash, end of period	231,810	196,659
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO AMOUNTS REPORTED WITHIN THE CONDENSED CONSOLIDATED BALANCE SHEETS:
Cash and cash equivalents	216,883	183,138	$ 230,752
Restricted cash	7,892	3,659
Restricted and escrow cash included in other noncurrent assets	7,035	9,862
Restricted cash included in other noncurrent assets		9,862
Cash, cash equivalents and restricted cash, end of period	231,810	196,659
Reportable Legal Entities \| Eldorado Resorts, Inc. (Parent Obligor)
Condensed Statement of Cash Flows
Net cash provided by (used in) operating activities	13,524	(7,128)
INVESTING ACTIVITIES:
Purchase of property and equipment, net	(1,154)	(1,233)
Proceeds from sale of property and equipment, net of cash sold	550
Net cash provided by (used in) investing activities	(604)	(1,233)
FINANCING ACTIVITIES:
Payments under Revolving Credit Facility	(205,000)
Net proceeds from (payments to) related parties	221,599	62,560
Payments on other long-term payables	(23)	(22)
Debt issuance costs	(386)	(304)
Taxes paid related to net share settlement of equity awards	(4,322)	(7,502)
Net cash used in financing activities	11,868	54,732
(Decrease) Increase in cash, cash equivalents and restricted cash	24,788	46,371
Cash, cash equivalents and restricted cash, beginning of period	12,844	13,836
Cash, cash equivalents and restricted cash, end of period	37,632	60,207
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO AMOUNTS REPORTED WITHIN THE CONDENSED CONSOLIDATED BALANCE SHEETS:
Cash and cash equivalents	37,632	59,490
Restricted cash		717
Cash, cash equivalents and restricted cash, end of period	37,632	60,207
Reportable Legal Entities \| Guarantor Subsidiaries
Condensed Statement of Cash Flows
Net cash provided by (used in) operating activities	53,239	87,253
INVESTING ACTIVITIES:
Purchase of property and equipment, net	(37,198)	(19,011)
Proceeds from sale of property and equipment, net of cash sold	168,997	150
Net cash provided by (used in) investing activities	131,799	(18,861)
FINANCING ACTIVITIES:
Net proceeds from (payments to) related parties	(223,672)	(66,660)
Payments on other long-term payables	(12)	(78)
Net cash used in financing activities	(223,684)	(66,738)
(Decrease) Increase in cash, cash equivalents and restricted cash	(38,646)	1,654
Cash, cash equivalents and restricted cash, beginning of period	222,672	118,483
Cash, cash equivalents and restricted cash, end of period	184,026	120,137
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO AMOUNTS REPORTED WITHIN THE CONDENSED CONSOLIDATED BALANCE SHEETS:
Cash and cash equivalents	170,099	116,394
Restricted cash	7,892	2,743
Restricted and escrow cash included in other noncurrent assets	6,035
Restricted cash included in other noncurrent assets		1,000
Cash, cash equivalents and restricted cash, end of period	184,026	120,137
Reportable Legal Entities \| Non-Guarantor Subsidiaries
Condensed Statement of Cash Flows
Net cash provided by (used in) operating activities	(1,323)	(2,118)
INVESTING ACTIVITIES:
Purchase of property and equipment, net	(8)	(1,027)
Proceeds from sale of property and equipment, net of cash sold	(1,602)
Purchase of restricted investments	(80)
Net cash provided by (used in) investing activities	(1,690)	(1,027)
FINANCING ACTIVITIES:
Net proceeds from (payments to) related parties	2,073	4,100
Payments on other long-term payables	(83)	(70)
Net cash used in financing activities	1,990	4,030
(Decrease) Increase in cash, cash equivalents and restricted cash	(1,023)	885
Cash, cash equivalents and restricted cash, beginning of period	11,175	15,430
Cash, cash equivalents and restricted cash, end of period	10,152	16,315
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO AMOUNTS REPORTED WITHIN THE CONDENSED CONSOLIDATED BALANCE SHEETS:
Cash and cash equivalents	9,152	7,254
Restricted cash		199
Restricted and escrow cash included in other noncurrent assets	1,000
Restricted cash included in other noncurrent assets		8,862
Cash, cash equivalents and restricted cash, end of period	$ 10,152	$ 16,315