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Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2020	Jul. 31, 2020
Cover [Abstract]
Entity Registrant Name	CAESARS ENTERTAINMENT, INC.
Entity Central Index Key	0001590895
Document Type	10-Q
Document Period End Date	Jun. 30, 2020
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		160,833,608
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Trading Symbol	CZR
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity File Number	001-36629
Entity Tax Identification Number	46-3657681
Entity Address, Address Line One	100 West Liberty Street
Entity Address, Address Line Two	Suite 1150
Entity Address, City or Town	Reno
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89501
City Area Code	775
Local Phone Number	328-0100
Entity Information, Former Legal or Registered Name	Eldorado Resorts, Inc.
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false
Title of 12(b) Security	Common Stock, $.00001 par value
Security Exchange Name	NASDAQ

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
CURRENT ASSETS:
Cash and cash equivalents	$ 950,483	$ 206,317
Restricted cash and investments	9,035	3,507
Marketable securities	36,071	34,634
Accounts receivable, net	44,305	53,899
Due from affiliates	585	3,806
Inventories	17,369	18,379
Prepaid expenses	33,096	30,966
Assets held for sale	443,793	253,135
Total current assets	1,534,737	604,643
Investment in and advances to unconsolidated affiliates	134,939	135,828
Property and equipment, net	2,418,687	2,614,524
Gaming licenses and other intangibles, net	1,056,429	1,111,398
Goodwill	810,187	909,717
Right-of-use assets	127,550	188,219
Other assets, net	65,918	76,224
Total assets	6,148,447	5,640,553
CURRENT LIABILITIES:
Current portion of long-term debt	111	246,175
Accounts payable	40,079	61,951
Accrued property, gaming and other taxes	32,035	43,050
Accrued payroll and related	42,676	62,337
Accrued interest	36,496	36,480
Income taxes payable	25,188	23,898
Short-term lease obligation	13,933	19,991
Accrued other liabilities	153,810	157,079
Liabilities related to assets held for sale	131,674	37,485
Total current liabilities	476,002	688,446
Long-term financing obligation to GLPI	975,792	970,519
Long-term debt, less current portion	2,670,739	2,324,541
Deferred income taxes	144,973	197,266
Long-term lease obligation	98,040	176,932
Other long-term liabilities	166,452	165,592
Total liabilities	4,531,998	4,523,296
Commitments and contingencies (Note 14)
STOCKHOLDERS' EQUITY:
Common stock, 200,000,000 shares authorized, 98,565,678 and 77,569,117 issued and outstanding, net of treasury shares, par value $0.00001 as of June 30, 2020 and December 31, 2019, respectively	1	1
Retained earnings	1,534,373	759,547
Retained earnings	90,829	366,463
Treasury stock at cost, 223,823 shares held at June 30, 2020 and December 31, 2019	(9,131)	(9,131)
Accumulated other comprehensive income	377	377
Total stockholders’ equity	1,616,449	1,117,257
Total liabilities and stockholders’ equity	$ 6,148,447	$ 5,640,553

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	98,565,678	77,569,117
Common stock, shares outstanding (in shares)	98,565,678	77,569,117
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Treasury stock (in shares)	223,823	223,823

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
REVENUES:
Net revenues	$ 126,470	$ 637,121	$ 599,539	$ 1,272,944
EXPENSES:
Other	1,179	10,723	10,360	21,972
Marketing and promotions	5,105	32,080	30,058	64,381
General and administrative	64,862	117,431	156,537	237,319
Corporate	13,050	21,051	29,532	37,805
Impairment charges	0	0	160,758	958
Depreciation and amortization	48,939	56,533	99,372	114,290
Total operating expenses	190,585	525,691	778,746	1,058,939
(Loss) gain on sale or disposal of property and equipment	(65)	(366)	1,393	21,952
Transaction expenses	(12,697)	(7,292)	(21,991)	(9,186)
Loss from unconsolidated affiliates	(1,450)	(1,222)	(1,702)	(617)
Operating (loss) income	(78,327)	102,550	(201,507)	226,154
OTHER EXPENSE:
Interest expense, net	(68,136)	(71,798)	(134,600)	(145,308)
Loss on extinguishment of debt	0	0	(158)	0
Unrealized gain (loss) on investments and marketable securities	12,806	(1,398)	(10,202)	(2,858)
Total other expense	(55,330)	(73,196)	(144,960)	(148,166)
(Loss) income before income taxes	(133,657)	29,354	(346,467)	77,988
Benefit (provision) for income taxes	33,661	(10,418)	70,833	(20,823)
Net (loss) income	$ (99,996)	$ 18,936	$ (275,634)	$ 57,165
Net (loss) income per share of common stock:
Basic (in dollars per share)	$ (1.25)	$ 0.24	$ (3.49)	$ 0.74
Diluted (in dollars per share)	$ (1.25)	$ 0.24	$ (3.49)	$ 0.73
Weighted average number of shares outstanding:
Weighted average basic shares outstanding (in shares)	80,053,676	77,682,759	79,009,373	77,625,303
Weighted average diluted shares outstanding (in shares)	80,053,676	78,725,289	79,009,373	78,657,552
Casino and pari-mutuel commissions
REVENUES:
Net revenues	$ 101,479	$ 457,162	$ 441,228	$ 927,848
EXPENSES:
Cost of goods and services	43,354	203,240	202,510	413,546
Food and beverage
REVENUES:
Net revenues	6,567	75,356	62,813	150,637
EXPENSES:
Cost of goods and services	8,250	59,497	61,505	119,882
Hotel
REVENUES:
Net revenues	8,916	78,391	57,292	143,175
EXPENSES:
Cost of goods and services	5,846	25,136	28,114	48,786
Other
REVENUES:
Net revenues	$ 9,508	$ 26,212	$ 38,206	$ 51,284

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (99,996)	$ 18,936	$ (275,634)	$ 57,165
Other comprehensive income, net of tax	0	0	0	0
Comprehensive (loss) income, net of tax	$ (99,996)	$ 18,936	$ (275,634)	$ 57,165

- 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 (in shares) at Dec. 31, 2018		77,438,889				223,823
Beginning balance at Dec. 31, 2018	$ 1,029,153	$ 1	$ 748,076	$ 290,206	$ 1	$ (9,131)
Issuance of restricted stock units (in shares)		330,641
Issuance of restricted stock units	4,948		4,948
Net income (loss)	38,229			38,229
Cumulative change in accounting principle, net of tax	(4,744)			(4,744)
Shares withheld related to net share settlement of stock awards (in shares)		(106,542)
Shares withheld related to net share settlement of stock awards	(4,322)		(4,322)
Ending balance (in shares) at Mar. 31, 2019		77,662,988				223,823
Ending balance at Mar. 31, 2019	1,063,264	$ 1	748,702	323,691	1	$ (9,131)
Beginning balance (in shares) at Dec. 31, 2018		77,438,889				223,823
Beginning balance at Dec. 31, 2018	1,029,153	$ 1	748,076	290,206	1	$ (9,131)
Net income (loss)	57,165
Ending balance (in shares) at Jun. 30, 2019		77,766,924				223,823
Ending balance at Jun. 30, 2019	1,085,519	$ 1	752,021	342,627	1	$ (9,131)
Beginning balance (in shares) at Mar. 31, 2019		77,662,988				223,823
Beginning balance at Mar. 31, 2019	1,063,264	$ 1	748,702	323,691	1	$ (9,131)
Issuance of restricted stock units (in shares)		169,248
Issuance of restricted stock units	6,509		6,509
Net income (loss)	18,936			18,936
Shares withheld related to net share settlement of stock awards (in shares)		(65,312)
Shares withheld related to net share settlement of stock awards	(3,190)		(3,190)
Ending balance (in shares) at Jun. 30, 2019		77,766,924				223,823
Ending balance at Jun. 30, 2019	1,085,519	$ 1	752,021	342,627	1	$ (9,131)
Beginning balance (in shares) at Dec. 31, 2019		77,792,940				223,823
Beginning balance at Dec. 31, 2019	1,117,257	$ 1	759,547	366,463	377	$ (9,131)
Issuance of restricted stock units (in shares)		356,367
Issuance of restricted stock units	5,742		5,742
Net income (loss)	(175,638)			(175,638)
Shares withheld related to net share settlement of stock awards (in shares)		(122,590)
Shares withheld related to net share settlement of stock awards	(7,152)		(7,152)
Ending balance (in shares) at Mar. 31, 2020		78,026,717				223,823
Ending balance at Mar. 31, 2020	940,209	$ 1	758,137	190,825	377	$ (9,131)
Beginning balance (in shares) at Dec. 31, 2019		77,792,940				223,823
Beginning balance at Dec. 31, 2019	1,117,257	$ 1	759,547	366,463	377	$ (9,131)
Net income (loss)	$ (275,634)
Exercise of stock options (in shares)	15,300
Ending balance (in shares) at Jun. 30, 2020		98,789,501				223,823
Ending balance at Jun. 30, 2020	$ 1,616,449	$ 1	1,534,373	90,829	377	$ (9,131)
Beginning balance (in shares) at Mar. 31, 2020		78,026,717				223,823
Beginning balance at Mar. 31, 2020	940,209	$ 1	758,137	190,825	377	$ (9,131)
Issuance of restricted stock units (in shares)		71,887
Issuance of restricted stock units	4,229		4,229
Issuance of common stock, net (in shares)		20,700,000
Issuance of common stock, net	772,392		772,392
Net income (loss)	(99,996)			(99,996)
Exercise of stock options (in shares)		15,300
Exercise of stock options	62		62
Shares withheld related to net share settlement of stock awards (in shares)		(24,403)
Shares withheld related to net share settlement of stock awards	(447)		(447)
Ending balance (in shares) at Jun. 30, 2020		98,789,501				223,823
Ending balance at Jun. 30, 2020	$ 1,616,449	$ 1	$ 1,534,373	$ 90,829	$ 377	$ (9,131)

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (275,634)	$ 57,165
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation and amortization	99,372	114,290
Amortization of deferred financing costs, discount and debt premium	8,497	9,186
Deferred revenue	(3,752)	(3,182)
Equity in loss of unconsolidated affiliates	1,702	617
Loss on extinguishment of debt	158	0
Lease amortization	1,699	1,332
Unrealized loss on investments	10,202	2,858
Stock compensation expense	9,971	11,457
Gain on sale of property and equipment	(1,393)	(21,952)
Impairment charges	160,758	958
Benefit for deferred income taxes	(52,293)	(6,671)
Other	1,513	631
Change in operating assets and liabilities:
Accounts receivable	6,391	(3,786)
Prepaid expenses and other assets	(10,633)	3,347
Income taxes payable	1,291	(8,636)
Accounts payable and accrued other liabilities	(38,312)	(29,756)
Net cash (used in) provided by operating activities	(80,463)	127,858
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment, net	(41,014)	(97,114)
Purchase of restricted investments	(116)	0
Sale of restricted investments	0	4,985
Proceeds from sale of businesses, property and equipment, net of cash sold	543	167,609
Investment in unconsolidated affiliates	(812)	0
Net cash (used in) provided by investing activities	(41,399)	75,480
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under Revolving Credit Facility	465,000	0
Payments under Revolving Credit Facility	(357,000)	(245,000)
Payments on Term Loan	(10,000)	0
Debt issuance costs	0	(449)
Proceeds from issuance of common stock	772,392	0
Proceeds from exercise of stock options	62	0
Taxes paid related to net share settlement of equity awards	(7,599)	(7,512)
Payments on other long-term payables	(144)	(243)
Net cash (used in) provided by financing activities	862,711	(253,204)
Increase (decrease) in cash, cash equivalents and restricted cash	740,849	(49,866)
Cash, cash equivalents and restricted cash, beginning of period	216,578	246,691
Cash, cash equivalents and restricted cash, end of period	957,427	196,825
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO AMOUNTS REPORTED WITHIN THE CONSOLIDATED BALANCE SHEETS:
Total cash, cash equivalents and restricted cash	957,427	196,825
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest paid	126,485	134,083
Income taxes (refunded) paid, net	(17,352)	38,210
NON-CASH FINANCING ACTIVITIES:
Payables for capital expenditures	$ 4,129	$ 14,525

Organization and Basis of Presentation

6 Months Ended

Jun. 30, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Basis of Presentation

. Organization and Basis of Presentation

Organization

The accompanying consolidated financial statements include the accounts of Caesars Entertainment, Inc., a Delaware corporation formerly known as Eldorado Resorts, Inc. (“ERI” or “Eldorado”), and its consolidated subsidiaries which may be referred to as the “Company,” “we,” “our,” or “us” within these financial statements.

The Company is a geographically diversified gaming and hospitality company with 23 gaming facilities in 11 states as of June 30, 2020. As of June 30, 2020, the Company’s properties were located in Colorado, Florida, Illinois, Indiana, Iowa, Mississippi, Missouri, Louisiana, Nevada, New Jersey and Ohio, and featured approximately 23,900 slot machines, video lottery terminals (“VLTs”) and e-tables, approximately 660 table games and approximately 11,300 hotel rooms. On July 20, 2020, the Company completed the merger in which a wholly-owned subsidiary of the Company merged with and into Caesars Entertainment Corporation (“Former Caesars”) with Former Caesars surviving as a wholly-owned subsidiary of the Company (the “Merger”) pursuant to the Agreement and Plan of Merger dated as of June 24, 2019 (as amended by Amendment No. 1 to Agreement and Plan of Merger, dated as of August 15, 2019, the “Merger Agreement”). As a result of the Merger, the Company currently owns an aggregate of 54 domestic properties in 16 states with approximately 60,400 slot machines, VLTs and e-tables, approximately 3,350 table games and approximately 51,200 hotel rooms, which includes international operations in five countries outside of the U.S. The Company’s primary source of revenue is generated by gaming operations, and the Company utilizes its hotels, restaurants, bars, entertainment, racing, sportsbook offerings, retail shops and other services to attract customers to its properties.

The Company was founded in 1973 by the Carano family with the opening of the Eldorado Hotel Casino in Reno, Nevada, and in 1993, partnered with MGM Resorts International to build Silver Legacy Resort Casino in Reno, Nevada. Beginning in 2005, the Company grew through a series of acquisitions, including the acquisition of Eldorado Shreveport in 2005, MTR Gaming Group, Inc. in 2014, Circus Circus Reno (“Circus Reno”) and the 50% membership interest in the Silver Legacy that was owned by MGM Resorts International in 2015, Isle of Capri Casinos, Inc. (“Isle” or “Isle of Capri”) in 2017 and Grand Victoria Casino (“Elgin”) and Tropicana Entertainment, Inc. (“Tropicana”) in 2018.

On January 11, 2019 and March 8, 2019, respectively, the Company completed its sales of Presque Isle Downs & Casino (“Presque”) and Lady Luck Casino Nemacolin (“Nemacolin”), which are both located in Pennsylvania. On December 6, 2019, the Company completed its sales of Mountaineer Casino, Racetrack and Resort (“Mountaineer”), Isle Casino Cape Girardeau (“Cape Girardeau”) and Lady Luck Casino Caruthersville (“Caruthersville”). Mountaineer is located in West Virginia and Cape Girardeau and Caruthersville are located in Missouri. On July 1, 2020, the Company completed the sales of Isle of Capri Casino Kansas City (“Kansas City”) and Lady Luck Casino Vicksburg (“Vicksburg”). Kansas City is located in Missouri and Vicksburg is located in Mississippi. See Note 5.

In connection with the Merger, Caesars Entertainment Corporation changed its name to “Caesars Holdings, Inc.” and Eldorado Resorts, Inc. converted into a Delaware corporation and changed its name to “Caesars Entertainment, Inc.” In addition, effective as of July 21, 2020 the Company’s ticker symbol on the NASDAQ Stock Market changed from “ERI” to “CZR”. In connection with the execution of the Merger Agreement, the Company also entered into a Master Transaction Agreement (the “MTA”) with VICI Properties L.P., a Delaware limited partnership (“VICI”), pursuant to which, among other things, the Company agreed to consummate certain sale and leaseback transactions and amend certain lease agreements with VICI and/or its affiliates, with respect to certain property described in the MTA. See Note 2 for further discussion of the Merger and related transactions.

On April 24, 2020, the Company entered into a definitive purchase agreement with Twin River Worldwide Holdings, Inc. (“Twin River”) and certain of its affiliates for the sale of the equity interests of Eldorado Resort Casino Shreveport Joint Venture and Columbia Properties Tahoe, LLC, the entities that hold Eldorado Resort Casino Shreveport and MontBleu Casino Resort & Spa, for aggregate consideration of $155 million, subject to a working capital adjustment. The definitive agreement provides that the consummation of the sale is subject to satisfaction of customary conditions, including receipt of required regulatory approvals and is expected to close in the first quarter of 2021.

In connection with its review of the Merger, the Indiana Gaming Commission determined on July 16, 2020 that the Company will be required to divest three properties within the state of Indiana in order to avoid undue economic concentrations as conditions to the Indiana Gaming Commission’s approval of the Merger. As a result, the Company plans to enter into agreements to divest of Evansville, as well as two additional properties that the Company acquired as a result of the Merger, prior to December 31, 2020.

The following table sets forth certain information regarding our properties (listed by segment in which each property is reported) as of June 30, 2020:

Segment

Property

Date Acquired

State

West

Eldorado Resort Casino Reno (“Eldorado Reno”)

(a)

Nevada

Silver Legacy Resort Casino (“Silver Legacy”)

(a)

Nevada

Circus Circus Reno (“Circus Reno”)

(a)

Nevada

MontBleu Casino Resort & Spa (“MontBleu”)

October 1, 2018 (c)

Nevada

Tropicana Laughlin Hotel & Casino (“Laughlin”)

October 1, 2018

Nevada

Isle Casino Hotel - Blackhawk (“Isle Black Hawk”)

May 1, 2017

Colorado

Lady Luck Casino - Black Hawk (“Lady Luck Black Hawk”)

May 1, 2017

Colorado

Midwest (b)

Isle Casino Waterloo (“Waterloo”)

May 1, 2017

Iowa

Isle Casino Bettendorf (“Bettendorf”)

May 1, 2017

Iowa

Isle of Capri Casino Boonville (“Boonville”)

May 1, 2017

Missouri

Isle of Capri Casino Kansas City (“Kansas City”)

May 1, 2017 (c)

Missouri

South

Isle Casino Racing Pompano Park (“Pompano”)

May 1, 2017

Florida

Eldorado Resort Casino Shreveport (“Eldorado Shreveport”)

(a) (c)

Louisiana

Isle of Capri Casino Hotel Lake Charles (“Lake Charles”)

May 1, 2017

Louisiana

Belle of Baton Rouge Casino & Hotel (“Baton Rouge”)

October 1, 2018

Louisiana

Isle of Capri Casino Lula (“Lula”)

May 1, 2017

Mississippi

Lady Luck Casino Vicksburg (“Vicksburg”)

May 1, 2017 (c)

Mississippi

Trop Casino Greenville (“Greenville”)

October 1, 2018

Mississippi

East (b)

Eldorado Gaming Scioto Downs (“Scioto Downs”)

(a)

Ohio

Tropicana Casino and Resort, Atlantic City (“Trop AC”)

October 1, 2018

New Jersey

Central

Grand Victoria Casino (“Elgin”)

August 7, 2018

Illinois

Lumière Place Casino (“Lumière”)

October 1, 2018

Missouri

Tropicana Evansville (“Evansville”)

October 1, 2018 (c)

Indiana

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

(b)Presque was sold on January 11, 2019, Nemacolin was sold on March 8, 2019 and Mountaineer was sold on December 6, 2019. All three properties were previously reported in the East segment. Cape Girardeau and Caruthersville were sold on December 6, 2019. Both properties were previously reported in the Midwest segment.

(c)Kansas City and Vicksburg were sold on July 1, 2020. The Company entered into an agreement to sell Eldorado Shreveport and MontBleu, which are expected to close in the first quarter of 2021. The Company plans to enter into an agreement to divest Evansville prior to December 31, 2020.

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 (“U.S. GAAP”) 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 U.S. 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. 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 the Company reviews operating results, assesses performance and makes decisions on a “significant market” basis. Management views each of the Company’s 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. The Company’s principal operating activities occur in five geographic regions and reportable segments. 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 the table above for a listing of properties included in each segment.

The presentation of financial information herein for periods after the Company’s sales of Presque and Nemacolin on January 11, 2019 and March 8, 2019, respectively, and the Company’s sales of Mountaineer, Cape Girardeau and Caruthersville on December 6, 2019 are not fully comparable to the periods prior to their respective sale dates. 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, 2019.

Recent Developments Related to COVID-19

In January 2020, an outbreak of a new strain of coronavirus (“COVID-19”) was identified and has since spread throughout much of the world, including the United States. All of the Company’s casino properties were temporarily closed for the period from mid-March 2020 through mid-May 2020 due to orders issued by various state government agencies as part of certain precautionary measures intended to help slow the spread of the COVID-19 public health emergency. On May 18, 2020, the Company began reopening properties and has resumed certain operations at all properties as of June 30, 2020, with the exception of Elgin and Trop AC which reopened on July 1 and July 2, 2020, respectively. As a result of the temporary closures, the COVID-19 public health emergency has had a material adverse effect on the Company’s business, financial condition and results of operations for the three and six months ended June 30, 2020. The Company continued to pay its full-time employees through April 10, 2020, including tips and tokens. Effective April 11, 2020, the Company furloughed approximately 90% of its employees, implemented salary reductions and committed to continue to provide benefits to its employees through June 30, 2020. Subsequently, the benefit coverage for furloughed employees was extended through August 31, 2020. A portion of the workforce has returned to service as the properties have resumed with limited capacities and in compliance with operating restrictions in accordance with governmental orders, directives and guidelines. As a result of these payroll changes combined with other cost saving measures, the Company’s operating expenses were reduced significantly. Due to a triggering event resulting from the COVID-19 public health emergency, the Company recognized impairment charges related to goodwill and trade names during the six months ended June 30, 2020. See Note 8 for details.

On June 15, 2020, in order to address the effects of the property closures resulting from the ongoing COVID-19 public health emergency, the Company obtained waivers on the financial covenant on the existing credit facility agreements and the master lease with GLP Capital, L.P., the operating partnership of Gaming and Leisure Properties, Inc. (“GLPI”), that we entered into in connection with the acquisition of Tropicana (the “GLPI Master Lease”). The amendment to the GLPI Master Lease is subject to the receipt of applicable gaming regulatory approvals, the provision of applicable gaming regulatory notices and the expiration of applicable gaming regulatory advance notice periods. As of June 30, 2020, the amendment was not effective. See Note 11 for details.

The extent of the ongoing and future effects of the COVID-19 public health emergency on the Company’s business and the casino resort industry generally is uncertain, but the Company expects that it will continue to have a significant impact on its business, results of operations and financial condition. The extent and duration of the impact of COVID-19 will ultimately depend on future developments, including but not limited to, the duration and severity of the outbreak, varying levels of restrictions on operations imposed by governmental authorities, the potential for authorities reimposing stay at home orders or additional restrictions in response to continued developments with the COVID-19 public health emergency, the Company’s ability to adapt to evolving operating procedures, the impact on consumer demand and discretionary spending, the length of time it takes for demand to return and the Company’s ability to adjust its cost structures for the duration of the outbreak’s effect on its operations.

Recently Issued Accounting Pronouncements

Pronouncements Implemented in 2020

In June 2016 (modified in November 2018), the Financial Accounting Standards Board (“FASB”) issued ASU No 2016-13, Financial Instruments – Credit Losses related to the timing of 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 is applicable to the Company’s evaluation of the Casino Reinvestment Development Authority (“CRDA”) investments. The guidance is effective for interim and annual periods beginning after December 15, 2019. Adoption of the guidance required a modified-retrospective approach and a cumulative adjustment to retained earnings to the first reporting period that the update is effective. The Company adopted the new guidance on January 1, 2020. Adoption of this guidance did not have a material impact on the Company’s 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 was effective for annual and interim periods beginning after December 15, 2019. The Company adopted the new guidance on January 1, 2020. Adoption of this guidance did not have a material impact on the Company’s 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 was effective for annual and interim periods beginning after December 15, 2019. The Company adopted the new guidance on January 1, 2020. Adoption of this guidance did not have a material impact on the Company’s Consolidated Financial Statements.

Pronouncements To Be Implemented In Future Periods

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. The Company anticipates adopting this amendment during the first quarter of 2021, and currently does not expect it to have a significant impact on its Consolidated Financial Statements.

In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes. This amendment modifies accounting guidelines for income taxes and is effective for annual and interim periods beginning after December 15, 2020 with early adoption allowed. The Company will adopt the new guidance on January 1, 2021. The Company is evaluating the qualitative and quantitative effect the new guidance will have on its Consolidated Financial Statements.

In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform. The amendments in this update are intended to provide relief to the companies that have contracts, hedging relationships or other transactions that reference the London Inter-bank Offered Rate (“LIBOR”) or another reference rate which is expected to be discontinued because of reference rate reform. The amendments provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions if certain criteria are met. The amendments in this update are effective as of March 12, 2020 and companies may elect to apply the amendments prospectively through December 31, 2022. The Company is evaluating the qualitative and quantitative effect the new guidance will have on its Consolidated Financial Statements.

Merger Related Transactions	6 Months Ended
Merger Related Transactions	Jun. 30, 2020
Business Combinations [Abstract]
Merger Related Transactions	Merger Related Transactions Merger with Caesars Entertainment Corporation On July 20, 2020, the Merger was consummated and Former Caesars became a wholly-owned subsidiary of the Company. The strategic rationale for the Merger includes, but is not limited to, the following: •Creation of the largest owner, operator and manager of domestic gaming assets •The largest and most diversified domestic footprint •Iconic brands, rewards program and new gaming opportunities expected to enhance customer experience •Realization of significant identified synergies Based on the closing price of $38.00 per share of Company common stock, par value $0.00001 per share (“Company Common Stock”), reported on NASDAQ on July 17, 2020, the aggregate implied value of the aggregate merger consideration paid to former holders of Former Caesars common stock in connection with the Merger was approximately $8.46 billion, including approximately $2.37 billion in the Company Common Stock and approximately $6.09 billion in cash. The aggregate merger consideration transferred also included the repayment of certain outstanding debt balances of Former Caesars and the replacement of equity awards of certain employees attributable to services provided prior to the Merger. The cash consideration paid in the Merger was $12.41 per share (inclusive of the applicable ticking fee) of Former Caesars common stock for which cash consideration was payable and the stock consideration per share of Former Caesars common stock for which stock consideration was payable was 0.3085 shares of Company Common Stock, with a value equal to approximately $12.41 in cash (based on the volume weighted average price per share of Company Common Stock for the 10 trading days ending on July 16, 2020). Following the consummation of the Merger, the Company’s and Former Caesars’ stockholders hold approximately 56% and 44%, respectively, of the outstanding shares of Company Common Stock. The major classes of assets acquired through the Merger include cash, cash equivalents and restricted cash, accounts receivable, including receivables from affiliates, property and equipment, goodwill and intangible assets, and other assets. The major classes of liabilities assumed through the Merger include accounts payable, accrued expenses, contract liabilities, financing obligations and long-term debt, which includes $1.1 billion in aggregate principal amount of 5% convertible notes due 2024 that are convertible into the weighted average of the number of shares of Company Common Stock and amount of cash actually received by holders of common stock of Former Caesars that made elections for consideration in the Merger. Given the short period of time from the Merger completion date and the date of these consolidated financial statements and the size and complexity of the transaction, the initial accounting for the business combination is incomplete at this time. The Company is not able to provide the valuation of certain components of consideration transferred or provide the allocation of consideration paid to the assets acquired or liabilities assumed. Supplemental pro forma revenue and earnings of the combined company are predicated on the completion of the business combination accounting and allocation of consideration. The Company recognized acquisition-related transaction costs of $12.7 million and $22.0 million for the three and six months ended June 30, 2020, respectively, and $4.5 million for the three and six months ended June 30, 2019. Debt and Financing Activity On July 6, 2020, a wholly-owned subsidiary of the Company issued $3.4 billion aggregate principal amount of 6.250% Senior Secured Notes due 2025 (the “2025 Secured Notes”) and $1.8 billion aggregate principal amount of 8.125% Senior Notes due 2027 (the “2027 Senior Notes”). The Company assumed the obligations under the 2025 Secured Notes and 2027 Senior Notes upon consummation of the Merger. In addition, Caesars Resort Collection (“CRC”), a subsidiary of Former Caesars, issued $1.0 billion aggregate principal amount of 5.750% Senior Secured Notes due 2025 (the “CRC Secured Notes”). On July 20, 2020, in connection with the closing of the Merger, the Company entered into a new credit agreement which provides a five-year senior secured revolving credit facility for an aggregate principal amount of $1.0 billion (the “ERI Revolving Credit Facility”) and an additional revolving credit facility commitment under the ERI Revolving Credit Facility in an aggregate principal amount equal to $185 million, and CRC entered into an incremental agreement to its existing credit agreement dated as of December 22, 2017 for an aggregate principal amount of $1.8 billion of incremental term loan and an additional $25 million of revolving credit facility commitments. The additional capacities of $185 million under the ERI Revolving Credit Facility and $25 million under the existing CRC revolving credit facility are subject to approval from certain gaming authorities which we expect to receive in the third quarter of 2020. In addition, the borrowing capacity and obligations under CRC’s existing $1.0 billion revolving credit facility remain outstanding following the consummation of the Merger. A portion of the proceeds from these arrangements, as well as cash on hand of the Company, was used (a) to fund a portion of the cash consideration of the Merger, (b) to prepay in full the loans outstanding and terminate all commitments under the Company’s existing Credit Agreement, dated as of April 17, 2017, (c) to satisfy and discharge the Company’s 6% Senior Notes due 2025, the Senior Notes due 2026, and the 7% Senior Notes due 2023, (d) to repay $975 million of the outstanding amount under CRC’s existing revolving credit facility, (e) to repay in full the loans outstanding and terminate all commitments under the CEOC, LLC Credit Agreement, dated as of October 6, 2017, (f) to pay fees and expenses related to the financing arrangements, and (g) for general corporate use. See Note 11 for details. VICI Transactions In connection with the closing of the Merger on July 20, 2020, the Company consummated a series of transactions with VICI in accordance with the Master Transaction Agreement (“MTA”) entered on June 24, 2019 and the Purchase and Sales Agreement entered on September 26, 2019. The Company consummated the sale leaseback transactions related to Harrah’s New Orleans, Harrah’s Laughlin and Harrah’s Resort Atlantic City, including the Harrah’s Atlantic City Waterfront Conference Center, for approximately $1.82 billion of net proceeds. Additionally, the Company received a one-time payment from VICI of approximately $1.38 billion for amendments to VICI lease agreements. The Caesars Palace Las Vegas (“CPLV”) Lease with VICI was amended to include Harrah’s Las Vegas (“HLV”) under the CPLV lease and increased HLV’s annual rent by $15 million and CPLV’s annual rent by $84 million. In addition, Harrah’s New Orleans, Harrah’s Laughlin, Harrah’s Resort Atlantic City and the Harrah’s Atlantic City Waterfront Conference Center were added to the Non-CPLV lease with VICI, with an increase in total aggregate annual rent for these properties of $154 million. The CPLV, Non-CPLV and Joliet lease agreements, as well as the Golf Course Use Agreement, were extended such that there will be 15 years remaining until the expiration of the initial term. The amendment also contains a put-call agreement related to the Centaur properties pursuant to which CRC may require VICI or its applicable affiliate to purchase and lease back (as lessor) to the Company or its applicable affiliate(s) the real estate components of the gaming and racetrack facilities of Hoosier Park Racing & Casino (“Hoosier Park”) and Indiana Grand Racing & Casino (“Indiana Grand”) and VICI or its applicable affiliate may require CRC to sell to VICI or its affiliate(s) and lease back (as lessee) the real estate components of such gaming and racetrack facilities. On June 15, 2020, the Company entered into a non-binding letter of intent with VICI to borrow a new 5-year, $400 million mortgage loan (the “Convention Center Mortgage Loan”) and sell to VICI approximately 23 acres of land in the vicinity of, or adjacent to, The LINQ, Bally’s Paris and Planet Hollywood in Las Vegas, Nevada and commonly known as the Eastside Land (the “Eastside Land Sale”). The Convention Center Mortgage Loan and the Eastside Land Sale are expected to close concurrently and are subject to customary closing conditions, including completion of due diligence, and negotiation of definitive documents and receipt of regulatory approvals. These transactions are expected to close in the third quarter of 2020.

Leases

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Leases

. Leases

The Company has operating and finance leases for various real estate and equipment. Certain of the Company’s 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. As of June 30, 2020, 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.

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


		Three Months Ended June 30,						Six Months Ended June 30,
	Classification on the Statement of Operations	2020		2019		2020		2019
Operating lease expense:
Operating lease expense	Operating expense	$	4,432	$	4,273	$	8,880	$	8,325
Short-term and variable lease expense	Operating expense	563		11,251		9,367		23,065
Finance lease expense:
Interest expense on lease liabilities	Interest expense, net	24,886		24,632		49,707		49,235
Amortization of ROU assets	Depreciation and amortization expense	4,069		2,628		8,158		5,139
Total lease expense		$	33,950	$	42,784	$	76,112	$	85,764

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


	Six Months Ended June 30,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	10,411	$	13,698
Operating cash flows for financing obligation and finance leases	$	44,527	$	43,862

Revenue Recognition

6 Months Ended

Jun. 30, 2020

Revenue from Contract with Customer [Abstract]

Revenue Recognition

. 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, which are recorded on a gross basis. Such fees are based upon a predetermined percentage of handle as contracted with the other race tracks.

The Company’s consolidated statement of operations presents net revenue disaggregated by type or nature of the good or service. A summary of net revenues disaggregated by type of revenue and reportable segment is presented below (amounts in thousands). Refer to Note 1 and Note 16 for additional information on the Company’s reportable segments.


	Three Months Ended June 30, 2020
	West		Midwest		South		East		Central		Corporate and Other		Total
Casino and pari-mutuel commissions	$	15,276	$	21,119	$	27,303	$	19,777	$	18,004	$	—	$	101,479
Food and beverage	3,564		614		1,519		245		625		—		6,567
Hotel	6,171		616		1,378		—		751		—		8,916
Other	4,926		438		560		1,204		468		1,912		9,508
Net revenues	$	29,937	$	22,787	$	30,760	$	21,226	$	19,848	$	1,912	$	126,470


	Three Months Ended June 30, 2019
	West		Midwest		South		East		Central		Corporate and Other		Total
Casino and pari-mutuel commissions	$	55,493	$	85,223	$	94,871	$	124,052	$	97,523	$	—	$	457,162
Food and beverage	29,209		5,897		13,056		14,959		12,235		—		75,356
Hotel	33,943		4,101		6,838		24,336		9,173		—		78,391
Other	9,082		2,018		2,172		7,108		3,861		1,971		26,212
Net revenues	$	127,727	$	97,239	$	116,937	$	170,455	$	122,792	$	1,971	$	637,121


	Six Months Ended June 30, 2020
	West		Midwest		South		East		Central		Corporate and Other		Total
Casino and pari-mutuel commissions	$	60,253	$	74,432	$	106,955	$	99,708	$	99,880	$	—	$	441,228
Food and beverage	27,147		4,013		12,170		9,709		9,774		—		62,813
Hotel	28,016		3,160		6,312		13,560		6,244		—		57,292
Other	20,011		1,975		2,375		6,305		3,655		3,885		38,206
Net revenues	$	135,427	$	83,580	$	127,812	$	129,282	$	119,553	$	3,885	$	599,539


	Six Months Ended June 30, 2019
	West		Midwest		South		East		Central		Corporate and Other		Total
Casino and pari-mutuel commissions	$	108,899	$	170,392	$	204,221	$	249,003	$	195,333	$	—	$	927,848
Food and beverage	57,187		11,984		27,765		29,680		24,021		—		150,637
Hotel	61,451		7,723		13,175		44,333		16,493		—		143,175
Other	18,285		3,927		4,490		13,672		7,417		3,493		51,284
Net revenues	$	245,822	$	194,026	$	249,651	$	336,688	$	243,264	$	3,493	$	1,272,944

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, and (3) customer deposits and other deferred revenue, which is primarily funds deposited by customers related to gaming play, advance payments received for goods and services yet to be provided (such as advance ticket sales, deposits on rooms and convention space or for unpaid wagers), and deferred revenues associated with the Company’s interests in William Hill (see Note 7) and Flutter Entertainment PLC (“Flutter”), following Flutter’s acquisition of The Stars Group (“TSG”). 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 (in thousands):


	Outstanding Chip Liability						Player Loyalty Liability						Customer Deposits and Other Deferred Revenue
	2020		2019		2020		2019		2020		2019
Balance at January 1	$	9,770	$	8,930	$	13,461	$	17,639	$	171,641	$	27,588
Balance at June 30	7,041		7,802		12,975		14,723		167,245		174,287
Increase / (decrease)	$	(2,729)	$	(1,128)	$	(486)	$	(2,916)	$	(4,396)	$	146,699

The June 30, 2020 balances exclude liabilities related to assets held for sale recorded in 2020 and 2019 (see Note 5). The significant change in customer deposits and other deferred revenue during the six months ended June 30, 2019 was primarily attributed to the initial recognition of the Company’s interests in William Hill, which is recorded in other long-term liabilities on the Consolidated Balance Sheets (see Note 7).

Assets Held for Sale

6 Months Ended

Jun. 30, 2020

Discontinued Operations and Disposal Groups [Abstract]

Assets Held for Sale

. Assets Held for Sale

Kansas City, Vicksburg, Eldorado Shreveport and MontBleu

On July 10, 2019, the Company entered into a definitive agreement to sell the equity interests of the entities that hold Vicksburg and Kansas City to Twin River for approximately $230 million, subject to a working capital adjustment. The definitive agreements provide that the consummation of the sales are subject to satisfaction of customary conditions, including receipt of required regulatory approvals. The sale of the equity interests closed on July 1, 2020 and resulted in a gain of approximately $8 million.

On April 24, 2020, the Company entered into a definitive purchase agreement with Twin River and certain of its affiliates for the sale of the equity interests of Eldorado Resort Casino Shreveport Joint Venture and Columbia Properties Tahoe, LLC, the entities that hold Eldorado Shreveport and MontBleu, respectively, for aggregate consideration of $155 million, subject to a working capital adjustment. The definitive agreement provides that the consummation of the sale is subject to satisfaction of customary conditions, including receipt of required regulatory approvals and is expected to close in the first quarter of 2021.

Kansas City and Vicksburg met the requirements for presentation as assets held for sale under generally accepted accounting principles as of June 30, 2020 and December 31, 2019. Eldorado Shreveport and MontBleu met the requirements for presentation as assets held for sale as of June 30, 2020. However, none of the pending divestitures met the requirements for presentation as discontinued operations and are included in income from continuing operations in the periods presented.

As a result of the agreement to sell MontBleu, an impairment charge totaling $45.6 million was recorded during the six months ended June 30, 2020 due to the carrying value exceeding the estimated net sales proceeds. The impairment charges resulted in a reduction to the carrying amounts of the right-of-use assets, property and equipment, goodwill and other intangibles totaling $17.8 million, $23.2 million and $4.6 million, respectively. See Note 8.

The assets and liabilities held for sale, accounted for at carrying value as it was lower than fair value, were as follows as of June 30, 2020 (in thousands):


	June 30, 2020
	Shreveport		MontBleu		Kansas City		Vicksburg		Total
Assets:
Accounts receivable, net	$	1,838	$	1,170	$	441	$	162	$	3,611
Due from affiliates	—		163		—		(9)		154
Inventories	1,039		606		42		122		1,809
Right-of-use assets	11,837		28,241		37,425		—		77,503
Prepaid expenses and other	847		845		364		4,311		6,367
Property and equipment, net	85,077		36,334		39,169		31,729		192,309
Goodwill	—		—		39,623		8,806		48,429
Other intangibles, net	20,574		—		90,329		2,708		113,611
Assets held for sale	$	121,212	$	67,359	$	207,393	$	47,829	$	443,793

Liabilities:
Accounts payable	$	743	$	766	$	152	$	192	$	1,853
Accrued payroll and related	748		351		403		278		1,780
Accrued property and other taxes	1,626		225		325		592		2,768
Short-term lease obligation	974		5,353		2,291		—		8,618
Long-term lease obligations	13,051		62,884		34,370		—		110,305
Accrued other liabilities	2,483		2,081		956		237		5,757
Other long-term liabilities	218		69		229		77		593
Liabilities related to assets held for sale	$	19,843	$	71,729	$	38,726	$	1,376	$	131,674

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, 2019 (in thousands):


	December 31, 2019
	Kansas City		Vicksburg		Total
Assets:
Accounts receivable, net	$	285	$	75	$	360
Inventories	52		119		171
Right-of-use assets	36,135		—		36,135
Prepaid expenses and other	216		4,168		4,384
Property and equipment, net	39,126		31,493		70,619
Goodwill	39,623		8,806		48,429
Other intangibles, net	90,329		2,708		93,037
Assets held for sale	$	205,766	$	47,369	$	253,135
Liabilities:
Accounts payable	$	307	$	188	$	495
Accrued payroll and related	567		327		894
Accrued property and other taxes	26		891		917
Short-term lease obligation	764		—		764
Long-term lease obligation	33,080		—		33,080
Accrued other liabilities	1,055		280		1,335
Liabilities related to assets held for sale	$	35,799	$	1,686	$	37,485

The following information presents the net revenues and net (loss) income for the Company’s properties that are held for sale (in thousands):


	Three Months Ended June 30, 2020
	Shreveport		MontBleu		Kansas City		Vicksburg
Net revenues	$	7,757	$	3,072	$	4,301	$	2,551
Net (loss) income	2,714		2,329		(737)		(202)


	Six Months Ended June 30, 2020
	Shreveport		MontBleu		Kansas City		Vicksburg
Net revenues	$	30,307	$	11,689	$	18,049	$	7,081
Net (loss) income	4,393		(39,835)		2,477		(675)

Mountaineer, Caruthersville and Cape Girardeau Divestitures

The sales of Mountaineer, Caruthersville and Cape Girardeau were consummated on December 6, 2019. Prior to the closing date, Mountaineer, Cape Girardeau and Caruthersville met the requirements for presentation as assets held for sale. However, they did not meet the requirements for presentation as discontinued operations. Mountaineer was previously reported in the East segment and Cape Girardeau and Caruthersville were reported in Midwest segment.

The following information presents the net revenues and net income of Mountaineer, Cape Girardeau and Caruthersville for the three and six months ended June 30, 2019 (in thousands):


	Three Months Ended June 30, 2019										Six Months Ended June 30, 2019
	Mountaineer		Cape Girardeau		Caruthersville		Mountaineer		Cape Girardeau		Caruthersville
Net revenues	$	32,707	$	14,340	$	8,651	$	62,873	$	29,742	$	17,577
Net income	2,414		1,578		1,907		4,037		3,692		3,687

Presque and Nemacolin Divestitures

The sale of Presque closed on January 11, 2019 resulting in a gain on sale of $22.1 million, net of final working capital adjustments, for the six months ended June 30, 2019. The sale of Nemacolin closed on March 8, 2019 resulting in a gain on sale of $0.1 million, net of final working capital adjustments, for the six months ended June 30, 2019. Presque and Nemacolin were both previously reported in the East segment.

The following information presents the net revenues and net loss of Presque and Nemacolin prior to the respective divestitures (in thousands):


	Six Months Ended June 30, 2019
	Presque		Nemacolin
Net revenues	$	3,235	$	4,836
Net loss	(62)		(754)

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 Stockholders' Equity

6 Months Ended

Jun. 30, 2020

Share-based Payment Arrangement, Noncash Expense [Abstract]

Stock-Based Compensation and Stockholders’ Equity

. Stock-Based Compensation and Stockholders’ Equity

Common Stock Offering

On June 19, 2020, the Company completed the public offering of 20,700,000 shares (including the shares sold pursuant to the underwriters’ overallotment option) of Company Common Stock, at an offering price of $39.00 per share, which provided $772.4 million of proceeds, net of fees and estimated expenses of $34.9 million.

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.

As of June 30, 2020, the Company acquired 223,823 shares of common stock under the Share Repurchase Program at an aggregate value of $9.1 million and an average of $40.80 per share. No shares were repurchased during the six months ended June 30, 2020 and 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 Operations totaled $4.3 million and $6.5 million during the three months ended June 30, 2020 and 2019, respectively, and $10.0 million and $11.5 million during the six months ended June 30, 2020 and 2019, 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 Operations. The Company recognized an income tax benefit of $2.8 million for the six months ended June 30, 2020, related to stock-based compensation. The Company recognized an increase in income tax expense of $1.3 million for the three months ended June 30, 2019. The Company recognized a reduction in income tax expense of $1.3 million for the six months ended June 30, 2019 for excess tax benefits related to stock-based compensation.

A summary of the restricted stock units (“RSUs”) activity, including performance awards, for the six months ended June 30, 2020 is presented in the following table:


	Restricted Stock Units
	Units	Weighted- Average Grant Date Fair Value
		(in millions)
Unvested outstanding as of December 31, 2019	1,246,641	$	35.56
Granted (1)	247,357	57.05
Vested	(443,000)	27.10
Forfeited	(11,424)	30.74
Unvested outstanding as of June 30, 2020	1,039,574	44.73

(1)Included are 20,615 RSUs granted to non-employee members of the Board of Directors during the six months ended June 30, 2020.

As of both June 30, 2020 and 2019, the Company had $27.3 million of unrecognized compensation expense. The RSUs are expected to be recognized over a weighted-average period of 1.7 years.

There were 15,300 stock options exercised for the six months ended June 30, 2020. Outstanding options as of June 30, 2020 totaled 120,656, of which 115,857 options were exercisable.

Investments in and Advances to Unconsolidated Affiliates	6 Months Ended
	Jun. 30, 2020
Equity Method Investments and Joint Ventures [Abstract]
Investments in and Advances to Unconsolidated Affiliates	. Investments in and Advances to Unconsolidated Affiliates 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 has made cash contributions totaling $1.0 million and has agreed to contribute a total of approximately 130 to 200 acres of land to the joint venture for the project. As of June 30, 2020 and December 31, 2019, the Company has contributed approximately 20 acres to the joint venture at a fair value of $6.6 million. 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 participates 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 Operations. As of June 30, 2020 and December 31, 2019, the Company’s investment in the joint venture is 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 territories. 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. Additionally, the Company receives a profit share from the operations of betting and other gaming activities associated with the Company’s properties. “Skin” in the context of this agreement refers to the Company’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 the Company or its subsidiaries. As of June 30, 2020 and December 31, 2019, the Company’s receivable from William Hill totaled $0.4 million and $3.5 million, respectively, 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 June 30, 2020 and December 31, 2019, the carrying value of the Company’s interest in William Hill US totaled $125.7 million and $127.1 million, respectively, and is recorded in investment in and advances to unconsolidated affiliates on the Consolidated Balance Sheets. As of June 30, 2020 and December 31, 2019, the fair value of the William Hill PLC shares totaled $16.6 million and $29.3 million, respectively, net of a cumulative unrealized loss of $10.7 million and a cumulative unrealized gain of $2.0 million, respectively, and is included in other assets, net on the Consolidated Balance Sheets. The Company recorded an unrealized gain of $6.6 million and an unrealized loss of $1.5 million during the three months ended June 30, 2020 and 2019, respectively. The Company recorded unrealized losses totaling $12.7 million and $4.4 million during the six months ended June 30, 2020 and 2019, respectively. The Company also recorded deferred revenue associated with the William Hill US and William Hill PLC shares and is recognizing revenue on a straight-line basis over the 25-year agreement term. The Company recognized revenue of $3.7 million and $1.5 million for the three months ended June 30, 2020 and 2019, respectively, and $5.2 million and $2.6 million during the six months ended June 30, 2020 and 2019, respectively. As of June 30, 2020 and December 31, 2019, the balance of the William Hill deferred revenue totaled $136.9 million and $142.1 million, respectively, and is recorded in other long-term liabilities on the Consolidated Balance Sheets.

Intangible Assets, Net

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, Net

. Intangible Assets, net

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


	June 30, 2020		December 31, 2019		Useful Life
Goodwill	$	810,187	$	909,717	Indefinite

Gaming licenses	$	872,158	$	893,302	Indefinite
Trade names	146,279		165,479		Indefinite
Player loyalty programs	97,935		100,694		3 - 4 years
Subtotal	1,116,372		1,159,475
Accumulated amortization player loyalty programs	(59,943)		(48,077)
Total gaming licenses and other intangible assets, net	$	1,056,429	$	1,111,398

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

Goodwill represents the excess of the purchase prices of acquiring MTR Gaming, Isle, Elgin and Tropicana over the fair market value of the net assets acquired. The following table presents the change to goodwill for the six months ended June 30, 2020 (in thousands):


	Goodwill		Accumulated Impairment		Goodwill, net
December 31, 2019	$	921,408	$	(11,691)	$	909,717
Impairments	—		(99,530)		(99,530)
Assets held for sale (see Note 5)	(5)		5		—
June 30, 2020	$	921,403	$	(111,216)	$	810,187

During the six months ended June 30, 2020, the Company recognized impairment charges related to goodwill and trade names totaling $99.5 million and $15.6 million, respectively, due to declines in recent performance and the expected impact on future cash flows as a result of COVID-19.

Additionally, in conjunction with the classification of MontBleu’s operations as assets held for sale as of June 30, 2020 (see Note 5) as a result of the announced sale, an impairment charge totaling $45.6 million was recorded due to the carrying value exceeding the estimate sales proceeds. Trade names, property, plant and equipment and right-of-use assets were impaired by $4.6 million, $23.2 million and $17.8 million, respectively. Impairment charges recorded by segment for the six months ended June 30, 2020 (in thousands) were as follows:


	West		South		Midwest		Total
Goodwill	$	52,805	$	15,625	$	31,100	$	99,530
Trade names	8,990		5,700		5,500		20,190
Property, plant and equipment (see Note 5)	23,228		—		—		23,228
Right of use assets (see Note 5)	17,810		—		—		17,810
	$	102,833	$	21,325	$	36,600	$	160,758

Amortization expense with respect to player loyalty programs for the three months ended June 30, 2020 and 2019 totaled $6.7 million and $7.7 million, respectively, and $14.2 million and $15.3 million for the six months ended June 30, 2020 and 2019, respectively, which is included in depreciation and amortization in the Consolidated Statements of Operations. Such amortization expense is expected to be $12.8 million for the remainder of 2020 and $21.2 million and $4.2 million for the years ended December 31, 2021 and 2022, respectively.

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	. Income Taxes The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was enacted on March 27, 2020. The CARES Act includes, among other things, refundable payroll tax credits, deferment of employer side social security payments, net operating loss carryback periods, alternative minimum tax credit refunds, modifications to the net interest deduction limitations, and technical amendments regarding the income tax depreciation of qualified improvement property placed in service after December 31, 2017. These amendments allow for retroactive accelerated income tax depreciation on certain of the Company’s leasehold improvement assets. The Company is currently assessing the financial impact of these technical amendments on the business. 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 and six months ended June 30, 2020, the Company’s tax benefit was $33.7 million and $70.8 million, respectively, and for the three and six months ended June 30, 2019, the Company’s tax expense was $10.4 million and $20.8 million, respectively. For the three and six months ended June 30, 2020, the difference between the effective rate and the statutory rate is attributed primarily to goodwill impairments, true-up of certain state tax benefits, state and local income taxes and changes in the valuation allowance. For the three and six months ended June 30, 2019, the difference between the effective rate and the statutory rate is attributed primarily to excess tax benefits associated with stock compensation, state and local income taxes and changes in the valuation allowance. As of June 30, 2020, 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. The Company recognizes 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 its consolidated 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 2008.

Long-Term Financing Obligation

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Long-Term Financing Obligation

. Long-Term Financing Obligation

Under the prior lease accounting standard, the GLPI Master Lease 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 in conjunction with the acquisition of Tropicana in 2018. Upon adoption of ASC 842, the Company re-evaluated the GLPI Master Lease and determined this existing failed sale-leaseback transaction would 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 10.2%. The value of the failed sale-leaseback financing obligations is dependent upon assumptions regarding the amount of the lease payments and the estimated discount rate of the lease payments required by a market participant.

The GLPI 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 GLPI Master Lease provides for an initial term of 15 years with no purchase option. At the Company’s option, the GLPI Master Lease may be extended for up to four five-year renewal terms beyond the initial 15-year term. If the Company elects to renew the term of the GLPI Master Lease, the renewal will be effective as to all, but not less than all, of the leased property then subject to the GLPI Master Lease. The Company does not have the ability to terminate its obligations under the GLPI Master Lease prior to its expiration without GLPI’s consent.

On June 15, 2020, the Company entered into an Amended and Restated Master Lease with GLPI, which, among other things, (i) extended the initial term from 15 to 20 years (through September 2038), with four five-year renewals at the Company’s option, (ii) commencing October 1, 2020, removed the percentage rent payable in exchange for an increase to the non-escalating portion of land base rent to $23.5 million, (iii) amended the dates on which, and the amounts by which, the escalating portion of base rent escalates, and (iv) provided certain relief under the operating, capital expenditure and financial covenants in the event of facility closures due to public health emergencies, governmental restrictions and certain other instances of unavoidable delay. The GLPI Master Lease provides that the effectiveness is subject to the receipt of applicable gaming regulatory approvals, the provision of applicable gaming regulatory notices and the expiration of applicable gaming regulatory advance notice periods. Subsequent to June 30, 2020, the amendment to the GLPI Master Lease became effective as the Company obtained all necessary approvals and the applicable waiting period expired.

The rent payable under the GLPI 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 GLPI 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 GLPI 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 GLPI Master Lease with respect to any of the leased properties.

The percentage rent payable under the GLPI 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 percentage rent, 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.

The initial annual rent under the terms of the lease was approximately $87.7 million and subject to annual escalations as referenced in the table below.

Under the GLPI 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 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 GLPI Master Lease financing obligation at June 30, 2020 were as follows (in thousands):


2020 (excluding the six months ended June 30, 2020)	$	44,736
2021	90,417
2022	91,691
2023	92,990
2024	94,315
Thereafter	3,412,359
Total future payments	3,826,508
Less: Amounts representing interest at 10.2%	(3,270,816)
Plus: Residual values	420,100
Financing obligation to GLPI	$	975,792

Total cash payments and interest expense related to the GLPI Master Lease totaled $22.2 million and $24.9 million, respectively, for the three months ended June 30, 2020, and $44.4 million and $49.7 million, respectively, for the six months ended June 30, 2020. Total cash payments and interest expense related to the GLPI Master Lease totaled $21.9 million and $24.6 million, respectively, for the three months ended June 30, 2019, and $43.8 million and $49.2 million, respectively, for the six months ended June 30, 2019. For the initial periods of the GLPI 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 GLPI Master Lease, as amended, contains certain covenants, including minimum capital improvement expenditures and a rent coverage ratio for which certain relief is provided in the event of facility closures due to public health emergencies, governmental restrictions and certain other instances of unavoidable delay.

Long-Term Debt

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Long-Term Debt

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


	June 30, 2020		December 31, 2019
Term Loan	$	488,750	$	498,750
Less: Unamortized discount and debt issuance costs	(6,988)		(7,982)
Net	481,762		490,768
6% Senior Notes due 2026	600,000		600,000
Less: Unamortized debt issuance costs	(16,874)		(17,958)
Net	583,126		582,042
6% Senior Notes due 2025	875,000		875,000
Plus: Unamortized debt premium	18,512		20,214
Less: Unamortized debt issuance costs	(14,643)		(15,939)
Net	878,869		879,275
7% Senior Notes due 2023	375,000		375,000
Less: Unamortized discount and debt issuance costs	(4,317)		(4,923)
Net	370,683		370,077
Revolving Credit Facility	108,000		—
Lumière Loan	246,000		246,000
Long-term notes and other payables	2,410		2,554
Less: Current portion	(111)		(246,175)
Total long-term debt	$	2,670,739	$	2,324,541

Net amortization of the debt issuance costs and the discount and/or premium associated with the Company’s indebtedness totaled $1.6 million and $1.9 million for the three months ended June 30, 2020 and 2019, respectively, and $3.2 million and $3.8 million for the six months ended June 30, 2020 and 2019 respectively. Amortization of debt issuance costs is computed using the effective interest method and is included in interest expense.

As of June 30, 2020, scheduled maturities of long-term debt were $246.1 million for the remainder of 2020, $0.2 million in 2021, $0.2 million in 2022, $483.1 million in 2023, $488.9 million in 2024, and $1.5 billion thereafter. See “Lumière Loan” below regarding $246 million of scheduled maturities during 2020.

Term Loan and Revolving Credit Facility

The Company was 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 $1.5 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 were to mature on October 1, 2023 and the Company’s obligations under the Term Loan Facility were to mature on April 17, 2024.

In an effort to maintain liquidity and provide financial flexibility as the effects of COVID-19 continue to evolve and impact global financial markets, the Company borrowed $465.0 million under its revolving credit facility on March 16, 2020, of which the Company repaid $357.0 million of the outstanding balance as of June 30, 2020. The Company had $372.9 million of available borrowing capacity, after consideration of $19.1 million in outstanding letters of credit under its Revolving Credit Facility, as of June 30, 2020.

The interest rate per annum applicable to loans under the Revolving Credit Facility were, at the Company’s 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 the Company’s total leverage ratio. The interest rate per annum applicable to the loans under the Term Loan Facility was, at the Company’s 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 paid a commitment fee on the unused portion of the Revolving Credit Facility of 0.50% per annum. As of June 30, 2020, the weighted average interest rate on the Term Loan and Revolving Credit Facility was 3.25% and 3.13%, respectively.

On July 6, 2020, the Company issued $3.4 billion aggregate principal amount of 2025 Secured Notes, $1.8 billion aggregate principal amount of 2027 Senior Notes and $1.0 billion aggregate principal amount of CRC Secured Notes in connection with the Merger. Upon the closing of the Merger, a portion of the net proceeds from the issuance of these notes were used to prepay in full all amounts outstanding under the Term Loan and Revolving Credit Facility and to repay the Company’s 6% Senior Notes due 2025, the Senior Notes due 2026, and the 7% Senior Notes due 2023. As a result of these transactions, the Company may incur a loss on extinguishment of debt during the third quarter of 2020, which could be significant.

Lumière Loan

The Company borrowed $246 million from GLPI to fund the 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 was secured by a first priority mortgage on the Lumière real property that was released pursuant to its terms on October 1, 2019. On June 24, 2020, the Company received approval from Missouri Gaming Commission to sell Lumière to GLPI and leaseback the property under a long-term financing obligation. The loan is scheduled to mature during 2020; however, the Company classified the loan balance as long-term debt as of June 30, 2020 as the Lumière real estate will be refinanced under a long-term lease, or financing obligation, during the third quarter of 2020.

Debt and GLPI Master Lease Covenant Compliance

Due to the ongoing effects of the COVID-19 public health emergency, the Company’s ability to maintain compliance with the financial covenants under the Company’s Credit Facility was negatively impacted. On June 15, 2020, the Company entered into an amendment to the Credit Agreement which provided relief for the financial covenant requirement under the Credit Facility through September 30, 2021. During the covenant relief period the Company is required to maintain a minimum liquidity level, including unrestricted cash and unused commitments under the Revolving Credit Facility of $200.0 million.

Additionally, the GLPI Master Lease contains certain operating, capital expenditure and financial covenants thereunder, and the Company’s ability to maintain compliance with these covenants was also negatively impacted. On June 15, 2020, the Company entered into an amendment to the GLPI Master Lease which provides certain relief under these covenants in the event of facility closures due to public health emergencies, governmental restrictions and certain other instances of unavoidable delay. Subsequent to June 30, 2020, the amendment to the GLPI Master Lease became effective as the Company obtained all necessary approvals and the applicable waiting period expired.

As of June 30, 2020, the Company was in compliance with all of the applicable financial covenants under the 7% Senior Notes due 2023, 6% Senior Notes due 2025, 6% Senior Notes due 2026, and the Lumière Loan.

Fair Value Measurements

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurements

. 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 the Company’s 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 the Company would expect to receive if the Company sold the restricted cash and investments.

Restricted investments include shares acquired in conjunction with the Company’s sports betting agreements that contain restrictions related to the ability to liquidate shares within a specified timeframe.

Marketable Securities: Marketable securities consist primarily of trading securities held by the Company’s captive insurance subsidiary and unrestricted shares acquired in conjunction with the Company’s sports betting agreements. 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 the Company would expect to receive if the Company sold these marketable securities.

Long-term Debt: The fair value of the Company’s 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.

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 June 30, 2020 and December 31, 2019 (amounts in thousands):


	June 30, 2020
Assets:	Level 1		Level 2		Level 3		Total
Restricted cash and investments	$	8,018	$	2,108	$	22,639	$	32,765
Marketable securities	27,978		8,093		—		36,071

Liabilities:
Other liabilities related to restricted investments	—		—		3,009		3,009


	December 31, 2019
Assets:	Level 1		Level 2		Level 3		Total
Restricted cash and investments	$	11,276	$	2,050	$	29,283	$	42,609
Marketable securities	27,103		7,531		—		34,634

The change in restricted cash and investments and liabilities valued using Level 3 inputs for the six months ended June 30, 2020 is as follows (amounts in thousands):


	Level 3 Investments		Level 3 Other Liabilities
Fair value of investment and liabilities at December 31, 2019	$	29,283	$	—
Value of additional investment received	4,678		2,339
Unrealized gain (loss)	(11,322)		670
Fair value at June 30, 2020	$	22,639	$	3,009

There were no transfers between Level 1, Level 2 and Level 3 investments during the six months ended June 30, 2020.

In November 2018, the Company entered into a 20-year agreement with TSG pursuant to which it agreed to provide TSG with options to obtain access to a second skin for online sports wagering and third skin for real money online gaming and poker, in each case with respect to the Company’s properties in the United States. Under the terms of the agreement, the Company will receive a revenue share from the operation of the applicable verticals by TSG under the Company’s licenses. Pursuant to the terms of the TSG agreement, the Company received 1.1 million TSG common shares, and an additional approximately $5.0 million in TSG common shares became payable to the Company upon TSG’s exercise of its first option; all shares are subject to a one year restriction on transfer from the date they are received. The Company may also receive additional TSG common shares in the future based on TSG net gaming revenue generated in its markets. On May 5, 2020, Flutter completed the acquisition of all of the issued and outstanding common shares of TSG in exchange for 0.2253 Flutter shares per common share of TSG.

As of June 30, 2020 and December 31, 2019, the fair value of unrestricted shares totaled $15.8 million and $14.0 million, respectively, net of cumulative unrealized gains of $5.5 million and $3.7 million, respectively, and is included in marketable securities on the Consolidated Balance Sheet. In addition, as of June 30, 2020, the fair value of restricted shares in Flutter totaled $6.0 million, net of cumulative unrealized gains of $1.3 million, and is included in restricted cash and investments on the Consolidated Balance Sheet. The Company recorded unrealized gains of $6.5 million and $3.1 million during the three and six months ended June 30, 2020, respectively, and unrealized gains of $0.1 million and $1.5 million during the three and six months ended June 30, 2019, respectively.

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


	June 30, 2020						December 31, 2019
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Financial liabilities:
7% Senior Notes due 2023	$	370,683	$	382,943	$	370,077	$	390,938
6% Senior Notes due 2025	878,869		914,760		879,275		922,031
6% Senior Notes due 2026	583,126		652,782		582,042		662,250
Term Loan	481,762		483,882		490,768		498,127
Revolving Credit Facility	108,000		108,000		—		—
Lumière Loan	246,000		246,000		246,000		246,000
Other long-term debt	2,410		2,410		2,554		2,553

- 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

6 Months Ended

Jun. 30, 2020

Earnings Per Share, Basic and Diluted [Abstract]

Earnings per Share

. Earnings per Share

The following table illustrates the reconciliation of the numerators and denominators of the basic and diluted net (loss) income per share computations for the three and six months ended June 30, 2020 and 2019 (dollars in thousands, except per share amounts):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Net (loss) income available to common stockholders	$	(99,996)	$	18,936	$	(275,634)	$	57,165
Shares outstanding:
Weighted average shares outstanding – basic	80,053,676		77,682,759		79,009,373		77,625,303
Effect of dilutive securities:
Stock options	—		107,388		—		105,885
RSUs	—		935,142		—		926,364
Weighted average shares outstanding – diluted	80,053,676		78,725,289		79,009,373		78,657,552
Net (loss) income per common share attributable to common stockholders – basic:	$	(1.25)	$	0.24	$	(3.49)	$	0.74
Net (loss) income per common share attributable to common stockholders – diluted:	$	(1.25)	$	0.24	$	(3.49)	$	0.73

For a period in which the Company generated a net loss, the weighted average shares outstanding - basic was used in calculating diluted loss per share because using diluted shares would have been anti-dilutive to loss per share. As such, the weighted average shares outstanding - diluted calculation above excludes 79,759 stock options and 266,523 RSUs for the three months ended June 30, 2020, and excludes 93,456 stock options and 446,910 RSUs for the six months ended June 30, 2020.

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	. Commitments and Contingencies Litigation The Company is a party to various legal proceedings. Such proceedings can be costly, time consuming and unpredictable and, therefore, no assurance can be given that the final outcome of such proceedings will not materially impact the Company’s consolidated financial condition or results of operations. While the Company maintains insurance coverage that the Company believes is adequate to mitigate the risks of such proceedings, no assurance can be given that the amount or scope of existing insurance coverage will be sufficient to cover losses arising from such matters. General In addition, 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 the Company’s results of operations.

Related Affiliates	6 Months Ended
Related Affiliates	Jun. 30, 2020
Related Party Transactions [Abstract]
Related Affiliates	. Related Affiliates REI As of June 30, 2020, Recreational Enterprises, Inc. (“REI”) owned approximately 8.7% of outstanding common stock of the Company. The directors of REI are the 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 six months ended June 30, 2020 and 2019, 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 (“CSY”) 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 June 30, 2020 and December 31, 2019, there were no amounts due to or from CSY.

Segment Information

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Segment Information

. Segment InformationThe executive decision maker of the Company reviews operating results, assesses performance and makes decisions on a “significant market” basis. Management views each of the Company’s 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. The Company’s principal operating activities occur in five geographic regions and reportable segments. The reportable segments are based on the similar characteristics of the operating segments within the regions in which they operate. See Note 1 for a summary of these segments. Also, see Note 5 and Note 8 for a discussion of the impairment of intangibles and long-lived assets related to certain segments.

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


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
	(in thousands)
Revenues and expenses
West:
Net revenues	$	29,937	$	127,727	$	135,427	$	245,822
Depreciation and amortization	13,299		13,508		27,237		26,651
Operating (loss) income	(12,808)		20,613		(110,265)		31,414
Midwest:
Net revenues	22,787		97,239		83,580		194,026
Depreciation and amortization	4,148		7,714		8,670		16,135
Operating (loss) income	415		29,012		(18,939)		56,845
South:
Net revenues	30,760		116,937		127,812		249,651
Depreciation and amortization	6,786		9,850		13,906		20,865
Operating (loss) income	(9,473)		19,023		(20,667)		46,538
East:
Net revenues	21,226		170,455		129,282		336,688
Depreciation and amortization	11,046		12,240		22,287		24,389
Operating (loss) income	(21,231)		35,213		(10,215)		62,374
Central:
Net revenues	19,848		122,792		119,553		243,264
Depreciation and amortization	11,793		11,480		23,556		22,690
Operating (loss) income	(8,194)		28,033		9,920		55,103
Corporate and Other:
Net revenues	1,912		1,971		3,885		3,493
Depreciation and amortization	1,867		1,741		3,716		3,560
Operating loss	(27,036)		(29,344)		(51,341)		(26,120)
Total Reportable Segments
Net revenues	$	126,470	$	637,121	$	599,539	$	1,272,944
Depreciation and amortization	$	48,939	$	56,533	$	99,372	$	114,290
Operating (loss) income	$	(78,327)	$	102,550	$	(201,507)	$	226,154
Reconciliations to consolidated net (loss) income:
Operating (loss) income	$	(78,327)	$	102,550	$	(201,507)	$	226,154
Unallocated (loss) income and expenses:
Interest expense, net	(68,136)		(71,798)		(134,600)		(145,308)
Loss on extinguishment of debt	—		—		(158)		—
Unrealized gain (loss) on investments and marketable securities	12,806		(1,398)		(10,202)		(2,858)
Benefit (provision) for income taxes	33,661		(10,418)		70,833		(20,823)
Net (loss) income	$	(99,996)	$	18,936	$	(275,634)	$	57,165


	Six Months Ended June 30,
	2020		2019
	(in thousands)
Capital Expenditures, Net
West	$	15,699	$	49,450
Midwest	2,732		9,443
South	7,707		10,098
East	6,735		19,857
Central	3,561		5,308
Corporate	4,580		2,958
Total	$	41,014	$	97,114


	Balance Sheet as of
	June 30, 2020		December 31, 2019
	(in thousands)
Total Assets
West	$	1,231,649	$	1,385,982
Midwest	1,061,521		1,157,884
South	1,034,363		1,132,707
East	1,533,568		1,588,308
Central	1,491,265		1,522,023
Corporate, Other and Eliminations	(203,919)		(1,146,351)
Total	$	6,148,447	$	5,640,553

Organization and Basis of Presentation (Policies)	6 Months Ended
Organization and Basis of Presentation (Policies)	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [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 (“U.S. GAAP”) 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 U.S. 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. 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 the Company reviews operating results, assesses performance and makes decisions on a “significant market” basis. Management views each of the Company’s 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. The Company’s principal operating activities occur in five geographic regions and reportable segments. 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 the table above for a listing of properties included in each segment. The presentation of financial information herein for periods after the Company’s sales of Presque and Nemacolin on January 11, 2019 and March 8, 2019, respectively, and the Company’s sales of Mountaineer, Cape Girardeau and Caruthersville on December 6, 2019 are not fully comparable to the periods prior to their respective sale dates. 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, 2019.
Recent Developments Related to COVID-19	Recent Developments Related to COVID-19 In January 2020, an outbreak of a new strain of coronavirus (“COVID-19”) was identified and has since spread throughout much of the world, including the United States. All of the Company’s casino properties were temporarily closed for the period from mid-March 2020 through mid-May 2020 due to orders issued by various state government agencies as part of certain precautionary measures intended to help slow the spread of the COVID-19 public health emergency. On May 18, 2020, the Company began reopening properties and has resumed certain operations at all properties as of June 30, 2020, with the exception of Elgin and Trop AC which reopened on July 1 and July 2, 2020, respectively. As a result of the temporary closures, the COVID-19 public health emergency has had a material adverse effect on the Company’s business, financial condition and results of operations for the three and six months ended June 30, 2020. The Company continued to pay its full-time employees through April 10, 2020, including tips and tokens. Effective April 11, 2020, the Company furloughed approximately 90% of its employees, implemented salary reductions and committed to continue to provide benefits to its employees through June 30, 2020. Subsequently, the benefit coverage for furloughed employees was extended through August 31, 2020. A portion of the workforce has returned to service as the properties have resumed with limited capacities and in compliance with operating restrictions in accordance with governmental orders, directives and guidelines. As a result of these payroll changes combined with other cost saving measures, the Company’s operating expenses were reduced significantly. Due to a triggering event resulting from the COVID-19 public health emergency, the Company recognized impairment charges related to goodwill and trade names during the six months ended June 30, 2020. See Note 8 for details. On June 15, 2020, in order to address the effects of the property closures resulting from the ongoing COVID-19 public health emergency, the Company obtained waivers on the financial covenant on the existing credit facility agreements and the master lease with GLP Capital, L.P., the operating partnership of Gaming and Leisure Properties, Inc. (“GLPI”), that we entered into in connection with the acquisition of Tropicana (the “GLPI Master Lease”). The amendment to the GLPI Master Lease is subject to the receipt of applicable gaming regulatory approvals, the provision of applicable gaming regulatory notices and the expiration of applicable gaming regulatory advance notice periods. As of June 30, 2020, the amendment was not effective. See Note 11 for details. The extent of the ongoing and future effects of the COVID-19 public health emergency on the Company’s business and the casino resort industry generally is uncertain, but the Company expects that it will continue to have a significant impact on its business, results of operations and financial condition. The extent and duration of the impact of COVID-19 will ultimately depend on future developments, including but not limited to, the duration and severity of the outbreak, varying levels of restrictions on operations imposed by governmental authorities, the potential for authorities reimposing stay at home orders or additional restrictions in response to continued developments with the COVID-19 public health emergency, the Company’s ability to adapt to evolving operating procedures, the impact on consumer demand and discretionary spending, the length of time it takes for demand to return and the Company’s ability to adjust its cost structures for the duration of the outbreak’s effect on its operations.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Pronouncements Implemented in 2020 In June 2016 (modified in November 2018), the Financial Accounting Standards Board (“FASB”) issued ASU No 2016-13, Financial Instruments – Credit Losses related to the timing of 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 is applicable to the Company’s evaluation of the Casino Reinvestment Development Authority (“CRDA”) investments. The guidance is effective for interim and annual periods beginning after December 15, 2019. Adoption of the guidance required a modified-retrospective approach and a cumulative adjustment to retained earnings to the first reporting period that the update is effective. The Company adopted the new guidance on January 1, 2020. Adoption of this guidance did not have a material impact on the Company’s 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 was effective for annual and interim periods beginning after December 15, 2019. The Company adopted the new guidance on January 1, 2020. Adoption of this guidance did not have a material impact on the Company’s 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 was effective for annual and interim periods beginning after December 15, 2019. The Company adopted the new guidance on January 1, 2020. Adoption of this guidance did not have a material impact on the Company’s Consolidated Financial Statements. Pronouncements To Be Implemented In Future Periods 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. The Company anticipates adopting this amendment during the first quarter of 2021, and currently does not expect it to have a significant impact on its Consolidated Financial Statements. In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes. This amendment modifies accounting guidelines for income taxes and is effective for annual and interim periods beginning after December 15, 2020 with early adoption allowed. The Company will adopt the new guidance on January 1, 2021. The Company is evaluating the qualitative and quantitative effect the new guidance will have on its Consolidated Financial Statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform. The amendments in this update are intended to provide relief to the companies that have contracts, hedging relationships or other transactions that reference the London Inter-bank Offered Rate (“LIBOR”) or another reference rate which is expected to be discontinued because of reference rate reform. The amendments provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions if certain criteria are met. The amendments in this update are effective as of March 12, 2020 and companies may elect to apply the amendments prospectively through December 31, 2022. The Company is evaluating the qualitative and quantitative effect the new guidance will have on its Consolidated Financial Statements.

Organization and Basis of Presentation (Tables)

6 Months Ended

Jun. 30, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of Information Regarding Properties Listed by Segment

The following table sets forth certain information regarding our properties (listed by segment in which each property is reported) as of June 30, 2020:

Segment

Property

Date Acquired

State

West

Eldorado Resort Casino Reno (“Eldorado Reno”)

(a)

Nevada

Silver Legacy Resort Casino (“Silver Legacy”)

(a)

Nevada

Circus Circus Reno (“Circus Reno”)

(a)

Nevada

MontBleu Casino Resort & Spa (“MontBleu”)

October 1, 2018 (c)

Nevada

Tropicana Laughlin Hotel & Casino (“Laughlin”)

October 1, 2018

Nevada

Isle Casino Hotel - Blackhawk (“Isle Black Hawk”)

May 1, 2017

Colorado

Lady Luck Casino - Black Hawk (“Lady Luck Black Hawk”)

May 1, 2017

Colorado

Midwest (b)

Isle Casino Waterloo (“Waterloo”)

May 1, 2017

Iowa

Isle Casino Bettendorf (“Bettendorf”)

May 1, 2017

Iowa

Isle of Capri Casino Boonville (“Boonville”)

May 1, 2017

Missouri

Isle of Capri Casino Kansas City (“Kansas City”)

May 1, 2017 (c)

Missouri

South

Isle Casino Racing Pompano Park (“Pompano”)

May 1, 2017

Florida

Eldorado Resort Casino Shreveport (“Eldorado Shreveport”)

(a) (c)

Louisiana

Isle of Capri Casino Hotel Lake Charles (“Lake Charles”)

May 1, 2017

Louisiana

Belle of Baton Rouge Casino & Hotel (“Baton Rouge”)

October 1, 2018

Louisiana

Isle of Capri Casino Lula (“Lula”)

May 1, 2017

Mississippi

Lady Luck Casino Vicksburg (“Vicksburg”)

May 1, 2017 (c)

Mississippi

Trop Casino Greenville (“Greenville”)

October 1, 2018

Mississippi

East (b)

Eldorado Gaming Scioto Downs (“Scioto Downs”)

(a)

Ohio

Tropicana Casino and Resort, Atlantic City (“Trop AC”)

October 1, 2018

New Jersey

Central

Grand Victoria Casino (“Elgin”)

August 7, 2018

Illinois

Lumière Place Casino (“Lumière”)

October 1, 2018

Missouri

Tropicana Evansville (“Evansville”)

October 1, 2018 (c)

Indiana

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

Leases (Tables)

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Components of Lease Expense

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


		Three Months Ended June 30,						Six Months Ended June 30,
	Classification on the Statement of Operations	2020		2019		2020		2019
Operating lease expense:
Operating lease expense	Operating expense	$	4,432	$	4,273	$	8,880	$	8,325
Short-term and variable lease expense	Operating expense	563		11,251		9,367		23,065
Finance lease expense:
Interest expense on lease liabilities	Interest expense, net	24,886		24,632		49,707		49,235
Amortization of ROU assets	Depreciation and amortization expense	4,069		2,628		8,158		5,139
Total lease expense		$	33,950	$	42,784	$	76,112	$	85,764

Supplemental Cash Flow Information Related to Leases

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


	Six Months Ended June 30,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	10,411	$	13,698
Operating cash flows for financing obligation and finance leases	$	44,527	$	43,862

Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2020

Revenue from Contract with Customer [Abstract]

Summary of Net Revenues Disaggregated Type of Revenue and Reportable Segment


	Three Months Ended June 30, 2020
	West		Midwest		South		East		Central		Corporate and Other		Total
Casino and pari-mutuel commissions	$	15,276	$	21,119	$	27,303	$	19,777	$	18,004	$	—	$	101,479
Food and beverage	3,564		614		1,519		245		625		—		6,567
Hotel	6,171		616		1,378		—		751		—		8,916
Other	4,926		438		560		1,204		468		1,912		9,508
Net revenues	$	29,937	$	22,787	$	30,760	$	21,226	$	19,848	$	1,912	$	126,470


	Three Months Ended June 30, 2019
	West		Midwest		South		East		Central		Corporate and Other		Total
Casino and pari-mutuel commissions	$	55,493	$	85,223	$	94,871	$	124,052	$	97,523	$	—	$	457,162
Food and beverage	29,209		5,897		13,056		14,959		12,235		—		75,356
Hotel	33,943		4,101		6,838		24,336		9,173		—		78,391
Other	9,082		2,018		2,172		7,108		3,861		1,971		26,212
Net revenues	$	127,727	$	97,239	$	116,937	$	170,455	$	122,792	$	1,971	$	637,121


	Six Months Ended June 30, 2020
	West		Midwest		South		East		Central		Corporate and Other		Total
Casino and pari-mutuel commissions	$	60,253	$	74,432	$	106,955	$	99,708	$	99,880	$	—	$	441,228
Food and beverage	27,147		4,013		12,170		9,709		9,774		—		62,813
Hotel	28,016		3,160		6,312		13,560		6,244		—		57,292
Other	20,011		1,975		2,375		6,305		3,655		3,885		38,206
Net revenues	$	135,427	$	83,580	$	127,812	$	129,282	$	119,553	$	3,885	$	599,539


	Six Months Ended June 30, 2019
	West		Midwest		South		East		Central		Corporate and Other		Total
Casino and pari-mutuel commissions	$	108,899	$	170,392	$	204,221	$	249,003	$	195,333	$	—	$	927,848
Food and beverage	57,187		11,984		27,765		29,680		24,021		—		150,637
Hotel	61,451		7,723		13,175		44,333		16,493		—		143,175
Other	18,285		3,927		4,490		13,672		7,417		3,493		51,284
Net revenues	$	245,822	$	194,026	$	249,651	$	336,688	$	243,264	$	3,493	$	1,272,944

Summary of Activity Related to Contract and Contract Related Liabilities

The following table summarizes the activity related to contract and contract-related liabilities (in thousands):


	Outstanding Chip Liability						Player Loyalty Liability						Customer Deposits and Other Deferred Revenue
	2020		2019		2020		2019		2020		2019
Balance at January 1	$	9,770	$	8,930	$	13,461	$	17,639	$	171,641	$	27,588
Balance at June 30	7,041		7,802		12,975		14,723		167,245		174,287
Increase / (decrease)	$	(2,729)	$	(1,128)	$	(486)	$	(2,916)	$	(4,396)	$	146,699

Assets Held for Sale (Tables)

6 Months Ended

Jun. 30, 2020

Discontinued Operations and Disposal Groups [Abstract]

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

The assets and liabilities held for sale, accounted for at carrying value as it was lower than fair value, were as follows as of June 30, 2020 (in thousands):


	June 30, 2020
	Shreveport		MontBleu		Kansas City		Vicksburg		Total
Assets:
Accounts receivable, net	$	1,838	$	1,170	$	441	$	162	$	3,611
Due from affiliates	—		163		—		(9)		154
Inventories	1,039		606		42		122		1,809
Right-of-use assets	11,837		28,241		37,425		—		77,503
Prepaid expenses and other	847		845		364		4,311		6,367
Property and equipment, net	85,077		36,334		39,169		31,729		192,309
Goodwill	—		—		39,623		8,806		48,429
Other intangibles, net	20,574		—		90,329		2,708		113,611
Assets held for sale	$	121,212	$	67,359	$	207,393	$	47,829	$	443,793

Liabilities:
Accounts payable	$	743	$	766	$	152	$	192	$	1,853
Accrued payroll and related	748		351		403		278		1,780
Accrued property and other taxes	1,626		225		325		592		2,768
Short-term lease obligation	974		5,353		2,291		—		8,618
Long-term lease obligations	13,051		62,884		34,370		—		110,305
Accrued other liabilities	2,483		2,081		956		237		5,757
Other long-term liabilities	218		69		229		77		593
Liabilities related to assets held for sale	$	19,843	$	71,729	$	38,726	$	1,376	$	131,674

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, 2019 (in thousands):


	December 31, 2019
	Kansas City		Vicksburg		Total
Assets:
Accounts receivable, net	$	285	$	75	$	360
Inventories	52		119		171
Right-of-use assets	36,135		—		36,135
Prepaid expenses and other	216		4,168		4,384
Property and equipment, net	39,126		31,493		70,619
Goodwill	39,623		8,806		48,429
Other intangibles, net	90,329		2,708		93,037
Assets held for sale	$	205,766	$	47,369	$	253,135
Liabilities:
Accounts payable	$	307	$	188	$	495
Accrued payroll and related	567		327		894
Accrued property and other taxes	26		891		917
Short-term lease obligation	764		—		764
Long-term lease obligation	33,080		—		33,080
Accrued other liabilities	1,055		280		1,335
Liabilities related to assets held for sale	$	35,799	$	1,686	$	37,485

The following information presents the net revenues and net (loss) income for the Company’s properties that are held for sale (in thousands):


	Three Months Ended June 30, 2020
	Shreveport		MontBleu		Kansas City		Vicksburg
Net revenues	$	7,757	$	3,072	$	4,301	$	2,551
Net (loss) income	2,714		2,329		(737)		(202)


	Six Months Ended June 30, 2020
	Shreveport		MontBleu		Kansas City		Vicksburg
Net revenues	$	30,307	$	11,689	$	18,049	$	7,081
Net (loss) income	4,393		(39,835)		2,477		(675)

The following information presents the net revenues and net income of Mountaineer, Cape Girardeau and Caruthersville for the three and six months ended June 30, 2019 (in thousands):


	Three Months Ended June 30, 2019										Six Months Ended June 30, 2019
	Mountaineer		Cape Girardeau		Caruthersville		Mountaineer		Cape Girardeau		Caruthersville
Net revenues	$	32,707	$	14,340	$	8,651	$	62,873	$	29,742	$	17,577
Net income	2,414		1,578		1,907		4,037		3,692		3,687

The following information presents the net revenues and net loss of Presque and Nemacolin prior to the respective divestitures (in thousands):


	Six Months Ended June 30, 2019
	Presque		Nemacolin
Net revenues	$	3,235	$	4,836
Net loss	(62)		(754)

- Definition

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

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721677-107760

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Stock-Based Compensation and Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2020

Share-based Payment Arrangement, Noncash Expense [Abstract]

Schedule of Share-based Compensation, Restricted Stock Units Activity

A summary of the restricted stock units (“RSUs”) activity, including performance awards, for the six months ended June 30, 2020 is presented in the following table:


	Restricted Stock Units
	Units	Weighted- Average Grant Date Fair Value
		(in millions)
Unvested outstanding as of December 31, 2019	1,246,641	$	35.56
Granted (1)	247,357	57.05
Vested	(443,000)	27.10
Forfeited	(11,424)	30.74
Unvested outstanding as of June 30, 2020	1,039,574	44.73

(1)Included are 20,615 RSUs granted to non-employee members of the Board of Directors during the six months ended June 30, 2020.

Intangible Assets, Net (Tables)

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Other and Intangible Assets, Net

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


	June 30, 2020		December 31, 2019		Useful Life
Goodwill	$	810,187	$	909,717	Indefinite

Gaming licenses	$	872,158	$	893,302	Indefinite
Trade names	146,279		165,479		Indefinite
Player loyalty programs	97,935		100,694		3 - 4 years
Subtotal	1,116,372		1,159,475
Accumulated amortization player loyalty programs	(59,943)		(48,077)
Total gaming licenses and other intangible assets, net	$	1,056,429	$	1,111,398

Schedule of Change in Goodwill

The following table presents the change to goodwill for the six months ended June 30, 2020 (in thousands):


	Goodwill		Accumulated Impairment		Goodwill, net
December 31, 2019	$	921,408	$	(11,691)	$	909,717
Impairments	—		(99,530)		(99,530)
Assets held for sale (see Note 5)	(5)		5		—
June 30, 2020	$	921,403	$	(111,216)	$	810,187

Schedule of Impairment Charges Recorded by Segment

Impairment charges recorded by segment for the six months ended June 30, 2020 (in thousands) were as follows:


	West		South		Midwest		Total
Goodwill	$	52,805	$	15,625	$	31,100	$	99,530
Trade names	8,990		5,700		5,500		20,190
Property, plant and equipment (see Note 5)	23,228		—		—		23,228
Right of use assets (see Note 5)	17,810		—		—		17,810
	$	102,833	$	21,325	$	36,600	$	160,758

Long-Term Financing Obligation (Tables)

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Schedule of Future Minimum Payments Related to Master Lease Financing Obligation

The future minimum payments related to the GLPI Master Lease financing obligation at June 30, 2020 were as follows (in thousands):


2020 (excluding the six months ended June 30, 2020)	$	44,736
2021	90,417
2022	91,691
2023	92,990
2024	94,315
Thereafter	3,412,359
Total future payments	3,826,508
Less: Amounts representing interest at 10.2%	(3,270,816)
Plus: Residual values	420,100
Financing obligation to GLPI	$	975,792

Long-Term Debt (Tables)

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Summary of Long-term Debt

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


	June 30, 2020		December 31, 2019
Term Loan	$	488,750	$	498,750
Less: Unamortized discount and debt issuance costs	(6,988)		(7,982)
Net	481,762		490,768
6% Senior Notes due 2026	600,000		600,000
Less: Unamortized debt issuance costs	(16,874)		(17,958)
Net	583,126		582,042
6% Senior Notes due 2025	875,000		875,000
Plus: Unamortized debt premium	18,512		20,214
Less: Unamortized debt issuance costs	(14,643)		(15,939)
Net	878,869		879,275
7% Senior Notes due 2023	375,000		375,000
Less: Unamortized discount and debt issuance costs	(4,317)		(4,923)
Net	370,683		370,077
Revolving Credit Facility	108,000		—
Lumière Loan	246,000		246,000
Long-term notes and other payables	2,410		2,554
Less: Current portion	(111)		(246,175)
Total long-term debt	$	2,670,739	$	2,324,541

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Schedule of Assets Measured at Fair Value on a Recurring Basis


	June 30, 2020
Assets:	Level 1		Level 2		Level 3		Total
Restricted cash and investments	$	8,018	$	2,108	$	22,639	$	32,765
Marketable securities	27,978		8,093		—		36,071

Liabilities:
Other liabilities related to restricted investments	—		—		3,009		3,009


	December 31, 2019
Assets:	Level 1		Level 2		Level 3		Total
Restricted cash and investments	$	11,276	$	2,050	$	29,283	$	42,609
Marketable securities	27,103		7,531		—		34,634

Schedule of Change in Restricted Investments Valued Using Level 3 Inputs

The change in restricted cash and investments and liabilities valued using Level 3 inputs for the six months ended June 30, 2020 is as follows (amounts in thousands):


	Level 3 Investments		Level 3 Other Liabilities
Fair value of investment and liabilities at December 31, 2019	$	29,283	$	—
Value of additional investment received	4,678		2,339
Unrealized gain (loss)	(11,322)		670
Fair value at June 30, 2020	$	22,639	$	3,009

Schedule of Estimated Fair Value of Financial Instruments

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


	June 30, 2020						December 31, 2019
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Financial liabilities:
7% Senior Notes due 2023	$	370,683	$	382,943	$	370,077	$	390,938
6% Senior Notes due 2025	878,869		914,760		879,275		922,031
6% Senior Notes due 2026	583,126		652,782		582,042		662,250
Term Loan	481,762		483,882		490,768		498,127
Revolving Credit Facility	108,000		108,000		—		—
Lumière Loan	246,000		246,000		246,000		246,000
Other long-term debt	2,410		2,410		2,554		2,553

Earnings per Share (Tables)

6 Months Ended

Jun. 30, 2020

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 June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Net (loss) income available to common stockholders	$	(99,996)	$	18,936	$	(275,634)	$	57,165
Shares outstanding:
Weighted average shares outstanding – basic	80,053,676		77,682,759		79,009,373		77,625,303
Effect of dilutive securities:
Stock options	—		107,388		—		105,885
RSUs	—		935,142		—		926,364
Weighted average shares outstanding – diluted	80,053,676		78,725,289		79,009,373		78,657,552
Net (loss) income per common share attributable to common stockholders – basic:	$	(1.25)	$	0.24	$	(3.49)	$	0.74
Net (loss) income per common share attributable to common stockholders – diluted:	$	(1.25)	$	0.24	$	(3.49)	$	0.73

Segment Information (Tables)

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Schedule of Operating Data for Reportable Segments

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


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
	(in thousands)
Revenues and expenses
West:
Net revenues	$	29,937	$	127,727	$	135,427	$	245,822
Depreciation and amortization	13,299		13,508		27,237		26,651
Operating (loss) income	(12,808)		20,613		(110,265)		31,414
Midwest:
Net revenues	22,787		97,239		83,580		194,026
Depreciation and amortization	4,148		7,714		8,670		16,135
Operating (loss) income	415		29,012		(18,939)		56,845
South:
Net revenues	30,760		116,937		127,812		249,651
Depreciation and amortization	6,786		9,850		13,906		20,865
Operating (loss) income	(9,473)		19,023		(20,667)		46,538
East:
Net revenues	21,226		170,455		129,282		336,688
Depreciation and amortization	11,046		12,240		22,287		24,389
Operating (loss) income	(21,231)		35,213		(10,215)		62,374
Central:
Net revenues	19,848		122,792		119,553		243,264
Depreciation and amortization	11,793		11,480		23,556		22,690
Operating (loss) income	(8,194)		28,033		9,920		55,103
Corporate and Other:
Net revenues	1,912		1,971		3,885		3,493
Depreciation and amortization	1,867		1,741		3,716		3,560
Operating loss	(27,036)		(29,344)		(51,341)		(26,120)
Total Reportable Segments
Net revenues	$	126,470	$	637,121	$	599,539	$	1,272,944
Depreciation and amortization	$	48,939	$	56,533	$	99,372	$	114,290
Operating (loss) income	$	(78,327)	$	102,550	$	(201,507)	$	226,154
Reconciliations to consolidated net (loss) income:
Operating (loss) income	$	(78,327)	$	102,550	$	(201,507)	$	226,154
Unallocated (loss) income and expenses:
Interest expense, net	(68,136)		(71,798)		(134,600)		(145,308)
Loss on extinguishment of debt	—		—		(158)		—
Unrealized gain (loss) on investments and marketable securities	12,806		(1,398)		(10,202)		(2,858)
Benefit (provision) for income taxes	33,661		(10,418)		70,833		(20,823)
Net (loss) income	$	(99,996)	$	18,936	$	(275,634)	$	57,165

Schedule of Capital Expenditures, Net for Reportable Segments


	Six Months Ended June 30,
	2020		2019
	(in thousands)
Capital Expenditures, Net
West	$	15,699	$	49,450
Midwest	2,732		9,443
South	7,707		10,098
East	6,735		19,857
Central	3,561		5,308
Corporate	4,580		2,958
Total	$	41,014	$	97,114

Schedule of Balance Sheet Information for Reportable Segments


	Balance Sheet as of
	June 30, 2020		December 31, 2019
	(in thousands)
Total Assets
West	$	1,231,649	$	1,385,982
Midwest	1,061,521		1,157,884
South	1,034,363		1,132,707
East	1,533,568		1,588,308
Central	1,491,265		1,522,023
Corporate, Other and Eliminations	(203,919)		(1,146,351)
Total	$	6,148,447	$	5,640,553

Organization and Basis of Presentation - Additional Information (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2020 Facility State property Game Hotel u_eriRegionorSegment	Jun. 30, 2020 Facility State property Game Hotel segment	Jun. 30, 2020 Facility State property Game Hotel u_eriRegionorSegment	Jul. 20, 2020 State property Game Hotel country	Apr. 11, 2020	Nov. 24, 2015
Organization and Basis of Presentation
Number of gaming facilities \| Facility	23	23	23
Number of states gaming facilities are located \| State	11	11	11
Number of slot machines and video lottery terminals	23,900	23,900	23,900
Number of table games \| Game	660	660	660
Number of room in hotel \| Hotel	11,300	11,300	11,300
Number of reportable segments	5	5	5
Number of geographic regions \| u_eriRegionorSegment			5
Percentage Of Furloughed Employees					90.00%
Silver Legacy Joint Venture
Organization and Basis of Presentation
Ownership interest						50.00%
Subsequent Event
Organization and Basis of Presentation
Number of states gaming facilities are located \| State				16
Number of slot machines and video lottery terminals				60,400
Number of table games \| Game				3,350
Total number of properties				54
Number of room in hotel \| Hotel				51,200
Number of countries \| country				5

Merger Related Transactions - Merger with Caesars Entertainment Corporation (Details)		3 Months Ended		6 Months Ended
	Jun. 24, 2019 USD ($) $ / shares	Jun. 30, 2020 USD ($) $ / shares	Jun. 30, 2019 USD ($)	Jun. 30, 2020 USD ($) $ / shares	Jun. 30, 2019 USD ($)	Jul. 20, 2020 USD ($)	Jul. 17, 2020 $ / shares	Dec. 31, 2019 $ / shares
Business Acquisition [Line Items]
Common stock, par value (in dollars per share) \| $ / shares		$ 0.00001		$ 0.00001				$ 0.00001
Business combination, acquisition related costs		$ 12,700,000	$ 4,500,000	$ 22,000,000.0	$ 4,500,000
Convertible Notes 5% due 2024 \| Senior Notes \| Subsequent Event
Business Acquisition [Line Items]
Debt instrument, face amount						$ 1,100,000,000
Interest rate (as a percent)						5.00%
Caesars Entertainment Corporation
Business Acquisition [Line Items]
Common stock, par value (in dollars per share) \| $ / shares		$ 0.00001		$ 0.00001
Purchase consideration	$ 8,460,000,000
Business combination, consideration transferred, cash interest	$ 6,090,000,000.00
Right to receive per share \| $ / shares	$ 12.41
Common stock conversion ratio	0.3085
Equity interests issued and issuable, cash paid per acquiree share (in dollars per share)	$ 12.41
Percentage of ownership on outstanding shares	56.00%
Caesars Entertainment Corporation \| Subsequent Event
Business Acquisition [Line Items]
Business acquisition, share price (in dollars per share) \| $ / shares							$ 38.00
Caesars Entertainment Corporation \| Former Caesars Stockholders
Business Acquisition [Line Items]
Percentage of ownership on outstanding shares	44.00%
Caesars Entertainment Corporation \| Common Stock
Business Acquisition [Line Items]
Purchase consideration	$ 2,370,000,000

Merger Related Transactions - Debt and Financing Activity (Details) - USD ($)		6 Months Ended
	Jul. 20, 2020	Jun. 30, 2020	Jun. 30, 2019	Jul. 06, 2020	Jun. 15, 2020
Business Acquisition [Line Items]
Payments under Revolving Credit Facility		$ 357,000,000	$ 245,000,000
Line of Credit \| Revolving Credit Facility
Business Acquisition [Line Items]
Credit facility					$ 200,000,000.0
Line of Credit \| Revolving Credit Facility \| Subsequent Event
Business Acquisition [Line Items]
Line of credit facility, expiration period	5 years
Credit facility	$ 1,000,000,000.0
Line of Credit \| Revolving Credit Facility \| Subsequent Event \| Caesars Resort Collection
Business Acquisition [Line Items]
Credit facility	185,000,000
Line of credit facility, accordion feature, increase limit	25,000,000
Line of credit facility, accordion feature, higher borrowing capacity option	1,000,000,000.0
Payments under Revolving Credit Facility	975,000,000
Line of Credit \| Bridge Loan \| Subsequent Event \| Caesars Resort Collection
Business Acquisition [Line Items]
Credit facility	1,800,000,000
Senior Secured Notes 6.250 Due 2025 \| Senior Notes \| Subsequent Event
Business Acquisition [Line Items]
Debt instrument, face amount				$ 3,400,000,000
Interest rate (as a percent)				6.25%
Senior Secured Notes 8.125 Due 2027 \| Senior Notes \| Subsequent Event
Business Acquisition [Line Items]
Debt instrument, face amount				$ 1,800,000,000
Interest rate (as a percent)				8.125%
Senior Secured Notes 5.750 Due 2025 \| Senior Notes \| Subsequent Event
Business Acquisition [Line Items]
Debt instrument, face amount				$ 1,000,000,000.0
Interest rate (as a percent)				5.75%
Convertible Notes 5% due 2024 \| Senior Notes \| Subsequent Event
Business Acquisition [Line Items]
Debt instrument, face amount	$ 1,100,000,000
Interest rate (as a percent)	5.00%
Senior Notes 6% due 2025 \| Senior Notes \| Subsequent Event
Business Acquisition [Line Items]
Interest rate (as a percent)	6.00%
Senior Notes 7% due 2023 \| Senior Notes \| Subsequent Event
Business Acquisition [Line Items]
Interest rate (as a percent)	7.00%

Merger Related Transactions - VICI Transactions (Details) - VICI Properties L.P. $ in Millions	Jun. 30, 2020 USD ($)
Business Acquisition [Line Items]
Business combination, acquired sales-type lease receivable	$ 1,820
Business combination, proceeds from lease agreements	$ 1,380
Lessor, sales-type lease, term of contract	15 years
Harrah’s Las Vegas Lease
Business Acquisition [Line Items]
Lessor, current base rent	$ 15
Caesars Palace Las Vegas Lease
Business Acquisition [Line Items]
Lessor, current base rent	84
Non- Caesars Palace Las Vegas Lease
Business Acquisition [Line Items]
Lessor, current base rent	$ 154

Leases - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Operating expense
Lessee, Lease, Description [Line Items]
Short-term and variable lease expense	$ 563	$ 11,251	$ 9,367	$ 23,065
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 - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Finance lease expense:
Amortization of ROU assets			$ 1,699	$ 1,332
Total lease expense	$ 33,950	$ 42,784	76,112	85,764
Operating expense
Operating lease expense:
Operating lease expense	4,432	4,273	8,880	8,325
Short-term and variable lease expense	563	11,251	9,367	23,065
Interest expense, net
Finance lease expense:
Interest expense on lease liabilities	24,886	24,632	49,707	49,235
Depreciation and amortization expense
Finance lease expense:
Amortization of ROU assets	$ 4,069	$ 2,628	$ 8,158	$ 5,139

Leases - Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$ 10,411	$ 13,698
Operating cash flows for financing obligation and finance leases	$ 44,527	$ 43,862

Revenue Recognition - Summary of Net Revenues Disaggregated Type of Revenue and Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Net revenues	$ 126,470	$ 637,121	$ 599,539	$ 1,272,944
Casino and pari-mutuel commissions
Disaggregation of Revenue [Line Items]
Net revenues	101,479	457,162	441,228	927,848
Food and beverage
Disaggregation of Revenue [Line Items]
Net revenues	6,567	75,356	62,813	150,637
Hotel
Disaggregation of Revenue [Line Items]
Net revenues	8,916	78,391	57,292	143,175
Other
Disaggregation of Revenue [Line Items]
Net revenues	9,508	26,212	38,206	51,284
Corporate
Disaggregation of Revenue [Line Items]
Net revenues	1,912	1,971	3,885	3,493
Corporate \| Casino and pari-mutuel commissions
Disaggregation of Revenue [Line Items]
Net revenues	0	0	0	0
Corporate \| Food and beverage
Disaggregation of Revenue [Line Items]
Net revenues	0	0	0	0
Corporate \| Hotel
Disaggregation of Revenue [Line Items]
Net revenues	0	0	0	0
Corporate \| Other
Disaggregation of Revenue [Line Items]
Net revenues	1,912	1,971	3,885	3,493
West Segment \| Operating Segment
Disaggregation of Revenue [Line Items]
Net revenues	29,937	127,727	135,427	245,822
West Segment \| Operating Segment \| Casino and pari-mutuel commissions
Disaggregation of Revenue [Line Items]
Net revenues	15,276	55,493	60,253	108,899
West Segment \| Operating Segment \| Food and beverage
Disaggregation of Revenue [Line Items]
Net revenues	3,564	29,209	27,147	57,187
West Segment \| Operating Segment \| Hotel
Disaggregation of Revenue [Line Items]
Net revenues	6,171	33,943	28,016	61,451
West Segment \| Operating Segment \| Other
Disaggregation of Revenue [Line Items]
Net revenues	4,926	9,082	20,011	18,285
Midwest Segment \| Operating Segment
Disaggregation of Revenue [Line Items]
Net revenues	22,787	97,239	83,580	194,026
Midwest Segment \| Operating Segment \| Casino and pari-mutuel commissions
Disaggregation of Revenue [Line Items]
Net revenues	21,119	85,223	74,432	170,392
Midwest Segment \| Operating Segment \| Food and beverage
Disaggregation of Revenue [Line Items]
Net revenues	614	5,897	4,013	11,984
Midwest Segment \| Operating Segment \| Hotel
Disaggregation of Revenue [Line Items]
Net revenues	616	4,101	3,160	7,723
Midwest Segment \| Operating Segment \| Other
Disaggregation of Revenue [Line Items]
Net revenues	438	2,018	1,975	3,927
South Segment \| Operating Segment
Disaggregation of Revenue [Line Items]
Net revenues	30,760	116,937	127,812	249,651
South Segment \| Operating Segment \| Casino and pari-mutuel commissions
Disaggregation of Revenue [Line Items]
Net revenues	27,303	94,871	106,955	204,221
South Segment \| Operating Segment \| Food and beverage
Disaggregation of Revenue [Line Items]
Net revenues	1,519	13,056	12,170	27,765
South Segment \| Operating Segment \| Hotel
Disaggregation of Revenue [Line Items]
Net revenues	1,378	6,838	6,312	13,175
South Segment \| Operating Segment \| Other
Disaggregation of Revenue [Line Items]
Net revenues	560	2,172	2,375	4,490
East Segment \| Operating Segment
Disaggregation of Revenue [Line Items]
Net revenues	21,226	170,455	129,282	336,688
East Segment \| Operating Segment \| Casino and pari-mutuel commissions
Disaggregation of Revenue [Line Items]
Net revenues	19,777	124,052	99,708	249,003
East Segment \| Operating Segment \| Food and beverage
Disaggregation of Revenue [Line Items]
Net revenues	245	14,959	9,709	29,680
East Segment \| Operating Segment \| Hotel
Disaggregation of Revenue [Line Items]
Net revenues	0	24,336	13,560	44,333
East Segment \| Operating Segment \| Other
Disaggregation of Revenue [Line Items]
Net revenues	1,204	7,108	6,305	13,672
Central Segment \| Operating Segment
Disaggregation of Revenue [Line Items]
Net revenues	19,848	122,792	119,553	243,264
Central Segment \| Operating Segment \| Casino and pari-mutuel commissions
Disaggregation of Revenue [Line Items]
Net revenues	18,004	97,523	99,880	195,333
Central Segment \| Operating Segment \| Food and beverage
Disaggregation of Revenue [Line Items]
Net revenues	625	12,235	9,774	24,021
Central Segment \| Operating Segment \| Hotel
Disaggregation of Revenue [Line Items]
Net revenues	751	9,173	6,244	16,493
Central Segment \| Operating Segment \| Other
Disaggregation of Revenue [Line Items]
Net revenues	$ 468	$ 3,861	$ 3,655	$ 7,417

Revenue Recognition - Summary of Activity Related to Contract and Contract Related Liabilities (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Outstanding Chip Liability
Disaggregation of Revenue [Line Items]
Balance at January 1	$ 9,770	$ 8,930
Balance at June 30	7,041	7,802
Increase / (decrease)	(2,729)	(1,128)
Player Loyalty Liability
Disaggregation of Revenue [Line Items]
Balance at January 1	13,461	17,639
Balance at June 30	12,975	14,723
Increase / (decrease)	(486)	(2,916)
Customer Deposits and Other Deferred Revenue
Disaggregation of Revenue [Line Items]
Balance at January 1	171,641	27,588
Balance at June 30	167,245	174,287
Increase / (decrease)	$ (4,396)	$ 146,699

Assets Held for Sale - Additional Information (Details) - USD ($) $ in Thousands				3 Months Ended		6 Months Ended
	Jul. 01, 2020	Apr. 24, 2020	Jul. 10, 2019	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment charges				$ 0	$ 0	$ 160,758	$ 958
Right-of-use assets				127,550		127,550		$ 188,219
Property and equipment, net				2,418,687		2,418,687		$ 2,614,524
Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sale	$ 8,000
MontBleu
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment charges						45,600
Right-of-use assets				17,800		17,800
Property and equipment, net				23,200		23,200
Goodwill and other intangibles				$ 4,600		$ 4,600
Presque
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sale							22,100
Eldorado Resort Casino Shreveport Joint Venture and Columbia Properties Tahoe, LLC
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Aggregate consideration subject to working capital adjustments		$ 155,000
Nemacolin
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on sale							$ 100
Twin River Worldwide Holdings Inc
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase consideration			$ 230,000

Assets Held for Sale - Schedule of Assets and Liabilities Held for Sale, Accounted Carrying Value Lower than Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Liabilities:
Liabilities related to assets held for sale	$ 131,674	$ 37,485
Disposal Group, Held-for-sale, Not Discontinued Operations
Assets:
Accounts receivable, net	3,611	360
Due from affiliates	154
Inventories	1,809	171
Right-of-use assets	77,503	36,135
Prepaid expenses and other	6,367	4,384
Property and equipment, net	192,309	70,619
Goodwill	48,429	48,429
Other intangibles, net	113,611	93,037
Assets held for sale	443,793	253,135
Liabilities:
Accounts payable	1,853	495
Accrued payroll and related	1,780	894
Accrued property and other taxes	2,768	917
Short-term lease obligation	8,618	764
Long-term lease obligations	110,305	33,080
Accrued other liabilities	5,757	1,335
Other long-term liabilities	593
Liabilities related to assets held for sale	131,674	37,485
Shreveport \| Disposal Group, Held-for-sale, Not Discontinued Operations
Assets:
Accounts receivable, net	1,838
Due from affiliates	0
Inventories	1,039
Right-of-use assets	11,837
Prepaid expenses and other	847
Property and equipment, net	85,077
Goodwill	0
Other intangibles, net	20,574
Assets held for sale	121,212
Liabilities:
Accounts payable	743
Accrued payroll and related	748
Accrued property and other taxes	1,626
Short-term lease obligation	974
Long-term lease obligations	13,051
Accrued other liabilities	2,483
Other long-term liabilities	218
Liabilities related to assets held for sale	19,843
MontBleu \| Disposal Group, Held-for-sale, Not Discontinued Operations
Assets:
Accounts receivable, net	1,170
Due from affiliates	163
Inventories	606
Right-of-use assets	28,241
Prepaid expenses and other	845
Property and equipment, net	36,334
Goodwill	0
Other intangibles, net	0
Assets held for sale	67,359
Liabilities:
Accounts payable	766
Accrued payroll and related	351
Accrued property and other taxes	225
Short-term lease obligation	5,353
Long-term lease obligations	62,884
Accrued other liabilities	2,081
Other long-term liabilities	69
Liabilities related to assets held for sale	71,729
Kansas City \| Disposal Group, Held-for-sale, Not Discontinued Operations
Assets:
Accounts receivable, net	441	285
Due from affiliates	0
Inventories	42	52
Right-of-use assets	37,425	36,135
Prepaid expenses and other	364	216
Property and equipment, net	39,169	39,126
Goodwill	39,623	39,623
Other intangibles, net	90,329	90,329
Assets held for sale	207,393	205,766
Liabilities:
Accounts payable	152	307
Accrued payroll and related	403	567
Accrued property and other taxes	325	26
Short-term lease obligation	2,291	764
Long-term lease obligations	34,370	33,080
Accrued other liabilities	956	1,055
Other long-term liabilities	229
Liabilities related to assets held for sale	38,726	35,799
Vicksburg \| Disposal Group, Held-for-sale, Not Discontinued Operations
Assets:
Accounts receivable, net	162	75
Due from affiliates	(9)
Inventories	122	119
Right-of-use assets	0	0
Prepaid expenses and other	4,311	4,168
Property and equipment, net	31,729	31,493
Goodwill	8,806	8,806
Other intangibles, net	2,708	2,708
Assets held for sale	47,829	47,369
Liabilities:
Accounts payable	192	188
Accrued payroll and related	278	327
Accrued property and other taxes	592	891
Short-term lease obligation	0	0
Long-term lease obligations	0	0
Accrued other liabilities	237	280
Other long-term liabilities	77
Liabilities related to assets held for sale	$ 1,376	$ 1,686

Assets Held for Sale - Schedule of Information of Net Revenues and Net Income (Loss) (Details) - Disposal Group, Held-for-sale, Not Discontinued Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Shreveport
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net revenues	$ 7,757		$ 30,307
Net (loss) income	2,714		4,393
MontBleu
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net revenues	3,072		11,689
Net (loss) income	2,329		(39,835)
Kansas City
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net revenues	4,301		18,049
Net (loss) income	(737)		2,477
Vicksburg
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net revenues	2,551		7,081
Net (loss) income	$ (202)		$ (675)
Mountaineer
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net revenues		$ 32,707		$ 62,873
Net (loss) income		2,414		4,037
Cape Girardeau
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net revenues		14,340		29,742
Net (loss) income		1,578		3,692
Caruthersville
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net revenues		8,651		17,577
Net (loss) income		$ 1,907		3,687
Presque
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net revenues				3,235
Net (loss) income				(62)
Nemacolin
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net revenues				4,836
Net (loss) income				$ (754)

Stock-Based Compensation and Stockholders' Equity - Additional Information (Details) - USD ($)		3 Months Ended		6 Months Ended
	Jun. 19, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Nov. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Sale of stock, price per share (in dollars per share)	$ 39.00
Sale of stock, consideration received on transaction	$ 772,400,000
Payments of stock issuance costs	$ 34,900,000
Treasury stock (in shares)		223,823		223,823		223,823
Stock-based compensation expense		$ 4,300,000	$ 6,500,000	$ 9,971,000	$ 11,457,000
Increase (reduction) in income tax benefit related to stock based compensation			1,300,000	$ 2,800,000	1,300,000
Exercise of stock options (in shares)				15,300
Options outstanding (in shares)		120,656		120,656
Options exercisable (in shares)		115,857		115,857
Public Stock Offering
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Sale of stock, shares issued in transaction (in shares)	20,700,000
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs granted in period				247,357
Unrecognized compensation expense		$ 27,300,000	$ 27,300,000	$ 27,300,000	$ 27,300,000
Share-based payment arrangement, nonvested award, cost not yet recognized, period for recognition				1 year 8 months 12 days	1 year 8 months 12 days
Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program, authorized amount							$ 150,000,000
Treasury stock (in shares)		223,823		223,823
Common stock shares acquired				0	0
Common stock acquired value				$ 9,100,000
Common stock acquired average price per share				$ 40.80
Issuance of common stock, net (in shares)		20,700,000
Exercise of stock options (in shares)		15,300

Stock-Based Compensation and Stockholders' Equity - Schedule of Share-based Compensation, Restricted Stock Units Activity (Details) - Restricted Stock Units (RSUs)	6 Months Ended
	Jun. 30, 2020 $ / shares shares
Restricted Stock Units
Outstanding at the beginning of the Period (in shares)	1,246,641
Granted (in shares)	247,357
Vested (in shares)	(443,000)
Forfeited (in shares)	(11,424)
Outstanding at the end of the Period (in shares)	1,039,574
Weighted-Average Grant Date Fair Value
Unvested outstanding as of beginning of period (in dollars per share) \| $ / shares	$ 35.56
Granted (in dollars per share) \| $ / shares	57.05
Vested (in dollars per share) \| $ / shares	27.10
Forfeited (in dollars per share) \| $ / shares	30.74
Unvested outstanding as of end of period (in dollars per share) \| $ / shares	$ 44.73
Non Employee Members Of B O D
Restricted Stock Units
Granted (in shares)	20,615

Investments in and Advances to Unconsolidated Affiliates - Additional Information (Details) $ in Thousands, shares in Millions	1 Months Ended		3 Months Ended		6 Months Ended		12 Months Ended
	Sep. 30, 2018	Apr. 30, 2018 USD ($) a	Jun. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)	Jun. 30, 2020 USD ($) a	Jun. 30, 2019 USD ($)	Dec. 31, 2019 USD ($) a	Jan. 31, 2019 shares	Jan. 29, 2019 USD ($)
Investment in Unconsolidated Affiliates
Receivable from partnership			$ 585		$ 585		$ 3,806
Investments in and advance to affiliates, subsidiaries, associates, and joint ventures			134,939		134,939		$ 135,828
Unrealized loss on investments			12,806	$ (1,398)	$ (10,202)	$ (2,858)
Pompano Joint Venture
Investment in Unconsolidated Affiliates
Cash contributions in joint venture		$ 1,000
Land \| a					20		20
Fair value of land			6,600		$ 6,600		$ 6,600
Variable interest entity, ownership percentage		50.00%
Pompano Joint Venture \| Maximum
Investment in Unconsolidated Affiliates
Land \| a		200
Pompano Joint Venture \| Minimum
Investment in Unconsolidated Affiliates
Land \| a		130
William Hill
Investment in Unconsolidated Affiliates
Agreement period	25 years
Percentage of equity stake								20.00%
Equity stake value in ordinary shares \| shares								13.4
Receivable from partnership			$ 400		400		3,500
Recognizing revenue on straight-line basis over a period			25 years
Recognized revenue			$ 3,700	1,500	5,200	2,600
William Hill \| Other Long Term Liabilities
Investment in Unconsolidated Affiliates
Deferred revenue			136,900		136,900		142,100
William Hill US
Investment in Unconsolidated Affiliates
Fair value of initial investment									$ 128,900
Investments in and advance to affiliates, subsidiaries, associates, and joint ventures			125,700		125,700		127,100
William Hill PLC
Investment in Unconsolidated Affiliates
Fair value of restricted investments			16,600		16,600		29,300
Cumulative unrealized loss					10,700
Cumulative unrealized gain							$ 2,000
Unrealized loss on investments			$ 6,600	$ (1,500)	$ (12,700)	$ (4,400)

Intangible Assets, Net - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Goodwill impairment			$ 99,530
Impairment charges	$ 0	$ 0	160,758	$ 958
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)			20,190
Impairment of Long-Lived Assets Held-for-use			23,228
Operating Lease, Impairment Loss			17,810
Player Loyalty Program
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Amortization expense	6,700	$ 7,700	14,200	$ 15,300
Remainder of 2020	12,800		12,800
Finite-lived intangible assets, amortization expense, 2021	21,200		21,200
Finite-lived intangible assets, amortization expense, 2022	$ 4,200		4,200
MontBleu
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Impairment charges			45,600
MontBleu \| Asset Held For Sale
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Impairment charges			45,600
Trade Names
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Impairment of intangible assets			15,600
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)			4,600
Property, Plant and Equipment
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Impairment of Long-Lived Assets Held-for-use			23,200
Right-of Use Assets
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Operating Lease, Impairment Loss			$ 17,800

Intangible Assets, Net - Schedule of Other and Intangible Assets, Net (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Goodwill	$ 810,187	$ 909,717
Goodwill, useful life	Indefinite
Subtotal	$ 1,116,372	1,159,475
Total gaming licenses and other intangible assets, net	1,056,429	1,111,398
Player Loyalty Program
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Player loyalty programs	97,935	100,694
Accumulated amortization player loyalty programs	$ (59,943)	(48,077)
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
Trade Names-Indefinite
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Indefinite-lived intangible assets	$ 146,279	165,479
Indefinite intangible assets, useful life	Indefinite
Gaming licenses
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Indefinite-lived intangible assets	$ 872,158	$ 893,302
Indefinite intangible assets, useful life	Indefinite

Intangible Assets, Net - Schedule of Changes to Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, gross, beginning balance	$ 921,408
Assets held for sale, goodwill	(5)
Goodwill, gross, ending balance	921,403
Accumulated Impairment, beginning balance	(11,691)
Impairments	(99,530)
Assets held for sale	5
Accumulated Impairment, ending balance	(111,216)
Goodwill, net, beginning balance	909,717
Goodwill, net, ending balance	$ 810,187

Intangible Assets, Net - Schedule of Impairment Charges Recorded by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Goodwill			$ 99,530
Trade names			20,190
Property, plant and equipment			23,228
Right of use assets			17,810
Total impairment charges	$ 0	$ 0	160,758	$ 958
Trade Names
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Trade names			4,600
Property, Plant and Equipment
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Property, plant and equipment			23,200
Right-of Use Assets
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Right of use assets			17,800
West Segment
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Goodwill			52,805
Trade names			8,990
Property, plant and equipment			23,228
Right of use assets			17,810
Total impairment charges			102,833
South Segment
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Goodwill			15,625
Trade names			5,700
Property, plant and equipment			0
Right of use assets			0
Total impairment charges			21,325
Midwest Segment
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Goodwill			31,100
Trade names			5,500
Property, plant and equipment			0
Right of use assets			0
Total impairment charges			$ 36,600

Income Taxes - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Income tax (benefit) expense	$ (33,661,000)	$ 10,418,000	$ (70,833,000)	$ 20,823,000
Unrecognized tax benefits	$ 0		$ 0

Long-Term Financing Obligation - Additional Information (Details) $ in Millions		3 Months Ended		6 Months Ended
	Jun. 15, 2020 USD ($) u_eriOption	Jun. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)	Jun. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)
Sale Leaseback Transaction [Line Items]
Lease term	35 years
Imputed discount rate	10.20%			10.20%
Lease agreement, amount of percentage, base rent	$ 23.5
Master lease, term	5 years
Percentage of master lease on annual basic	2.00%
Master Lease
Sale Leaseback Transaction [Line Items]
Term of contract	15 years
Number of renewal options \| u_eriOption	4
Renewal term	5 years
Base rent	$ 13.4
Master Lease \| Minimum
Sale Leaseback Transaction [Line Items]
Term of contract	15 years
Master Lease \| Maximum
Sale Leaseback Transaction [Line Items]
Term of contract	20 years
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	1.20
Revenue to rent ratio as base to compute building rent for thereafter	1.80
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	$ 87.7
Lease cash payments		$ 22.2	$ 21.9	$ 44.4	$ 43.8
Lease expense		$ 24.9	$ 24.6	$ 49.7	$ 49.2

Long-Term Financing Obligation - Schedule of Future Minimum Payments Related to Master Lease Financing Obligation (Details) $ in Thousands	Jun. 30, 2020 USD ($)
Leases [Abstract]
2020 (excluding the six June 30, 2020)	$ 44,736
2021	90,417
2022	91,691
2023	92,990
2024	94,315
Thereafter	3,412,359
Total future payments	3,826,508
Less: Amounts representing interest at 10.2%	(3,270,816)
Plus: Residual values	420,100
Financing obligation to GLPI	$ 975,792

Long-Term Financing Obligation - Schedule of Future Minimum Payments Related to Master Lease Financing Obligation (Descriptors) (Details)		6 Months Ended
	Jun. 15, 2020	Jun. 30, 2020
Leases [Abstract]
Interest rate	10.20%	10.20%

Long-Term Debt - Summary of Long-term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Long-term debt
Long-term notes and other payables	$ 2,410	$ 2,554
Less: Current portion	(111)	(246,175)
Total long-term debt	2,670,739	2,324,541
Term Loan
Long-term debt
Long-term debt, gross	488,750	498,750
Less: Unamortized discount and debt issuance costs	(6,988)	(7,982)
Net	481,762	490,768
6% Senior Notes due 2026
Long-term debt
Long-term debt, gross	600,000	600,000
Less: Unamortized discount and debt issuance costs	(16,874)	(17,958)
Net	583,126	582,042
6% Senior Notes due 2025
Long-term debt
Long-term debt, gross	875,000	875,000
Plus: Unamortized debt premium	18,512	20,214
Less: Unamortized debt issuance costs	(14,643)	(15,939)
Net	878,869	879,275
7% Senior Notes due 2023
Long-term debt
Long-term debt, gross	375,000	375,000
Less: Unamortized discount and debt issuance costs	(4,317)	(4,923)
Net	370,683	370,077
Revolving Credit Facility
Long-term debt
Revolving Credit Facility	108,000	0
Lumière Loan
Long-term debt
Net	246,000	246,000
Lumière Loan	$ 246,000	$ 246,000
Senior Secured Notes 7 Due 2023 \| Senior Notes
Long-term debt
Interest rate (as a percent)	7.00%
Senior Secured Notes 6 Due 2025 \| Senior Notes
Long-term debt
Interest rate (as a percent)	6.00%
Senior Secured Notes 6 Due 2026 \| Senior Notes
Long-term debt
Interest rate (as a percent)	6.00%

Long-Term Debt - Additional Information (Details)	3 Months Ended		6 Months Ended
Long-Term Debt - Additional Information (Details)	Jun. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)	Jun. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)	Jun. 15, 2020 USD ($) a
Long-term debt
Amortization of deferred financing costs, discount and debt premium	$ 1,600,000	$ 1,900,000	$ 3,200,000	$ 3,800,000
Loss on extinguishment of debt	0	$ 0	158,000	$ 0
Scheduled maturities of long-term debt for remainder of 2020	246,100,000		246,100,000
Scheduled maturities of long-term debt in 2021	200,000		200,000
Scheduled maturities of long-term debt in 2022	200,000		200,000
Scheduled maturities of long-term debt in 2023	483,100,000		483,100,000
Scheduled maturities of long-term debt in 2024	488,900,000		488,900,000
Scheduled maturities of long-term debt in thereafter	$ 1,500,000,000		$ 1,500,000,000
VICI Properties L.P.
Long-term debt
Long-term debt, term					5 years
Long-term debt					$ 400,000,000
Area of land \| a					23
Senior Notes \| Senior Secured Notes 7 Due 2023
Long-term debt
Interest rate (as a percent)	7.00%		7.00%
Senior Notes \| Senior Secured Notes 6 Due 2025
Long-term debt
Interest rate (as a percent)	6.00%		6.00%
Senior Notes \| Senior Secured Notes 6 Due 2026
Long-term debt
Interest rate (as a percent)	6.00%		6.00%
Line of Credit \| Revolving Credit Facility
Long-term debt
Credit facility					$ 200,000,000.0

Long-Term Debt - Term Loan and Revolving Credit Facility - Additional Information (Details) - USD ($)		3 Months Ended	6 Months Ended
	Mar. 16, 2020	Jun. 30, 2020	Jun. 30, 2020	Jun. 30, 2019	Apr. 17, 2017
Long-term debt
Payments under Revolving Credit Facility			$ 357,000,000	$ 245,000,000
Revolving Credit Facility
Long-term debt
Payments under Revolving Credit Facility			357,000,000.0
Revolving Credit Facility
Long-term debt
Credit facility					$ 500,000,000.0
Proceeds from lines of credit	$ 465,000,000.0
Available borrowing capacity		$ 372,900,000	$ 372,900,000
Commitment fee on unused portion of the credit facility		0.50%
Interest rates		3.13%	3.13%
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		$ 19,100,000	$ 19,100,000
Term Loan Under Secured Credit Facility
Long-term debt
Credit facility					$ 1,500,000,000
Interest rates		3.25%	3.25%
Term Loan Under Secured Credit Facility \| LIBOR
Long-term debt
Spread on variable rate (as a percent)		2.25%
Term Loan Under Secured Credit Facility \| Base rate
Long-term debt
Spread on variable rate (as a percent)		1.25%

Long-Term Debt - Lumiere Loan - Additional Information (Details) - Lumière Loan - USD ($) $ in Thousands	Oct. 01, 2020	Oct. 01, 2019	Jun. 30, 2020	Dec. 31, 2019
Long-term debt
Loan amount to fund real property			$ 246,000	$ 246,000
Interest rate		9.09%
Scenario Forecast
Long-term debt
Interest rate	9.27%
Gaming and Leisure Properties
Long-term debt
Loan amount to fund real property			$ 246,000

Fair Value Measurements - Schedule of Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Assets:
Marketable securities	$ 36,071	$ 34,634
Fair Value Recurring Basis
Assets:
Restricted cash and investments	32,765	42,609
Marketable securities	36,071	34,634
Liabilities:
Other liabilities related to restricted investments	3,009
Fair Value Recurring Basis \| Level 1
Assets:
Restricted cash and investments	8,018	11,276
Marketable securities	27,978	27,103
Liabilities:
Other liabilities related to restricted investments	0
Fair Value Recurring Basis \| Level 2
Assets:
Restricted cash and investments	2,108	2,050
Marketable securities	8,093	7,531
Liabilities:
Other liabilities related to restricted investments	0
Fair Value Recurring Basis \| Level 3
Assets:
Restricted cash and investments	22,639	29,283
Marketable securities	0	$ 0
Liabilities:
Other liabilities related to restricted investments	$ 3,009

Fair Value Measurements - Schedule of Change in Restricted Investments Valued Using Level 3 Inputs (Details) - Fair Value Recurring Basis $ in Thousands	6 Months Ended
	Jun. 30, 2020 USD ($)
Fair Value, Assets
Investments, beginning balance	$ 42,609
Other liabilities, ending balance	3,009
Investments, ending balance	32,765
Level 3
Fair Value, Assets
Investments, beginning balance	29,283
Other liabilities, ending balance	3,009
Investments, ending balance	22,639
Other Liabilities \| Level 3
Fair Value, Assets
Other liabilities, beginning balance	0
Value of additional investment received	2,339
Unrealized gain (loss)	670
Other liabilities, ending balance	3,009
Restricted Cash and Investments \| Level 3
Fair Value, Assets
Investments, beginning balance	29,283
Value of additional investment received	4,678
Unrealized gain (loss)	(11,322)
Investments, ending balance	$ 22,639

Fair Value Measurements - Additional Information (Details) - USD ($)		1 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
	May 05, 2020	Nov. 30, 2018	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value assets, Level 1 to Level 2 transfers amount			$ 0		$ 0
Fair value assets, Level 2 to Level 1 transfers amount			0		0
Fair value assets, Level 1 to Level 3 transfers amount			0		0
Fair value assets, Level 2 To Level 3 transfers amount			0		0
Fair value assets, Level 3 to Level 2 transfers amount			0		0
Fair value assets, Level 3 To Level 1 transfers amount			0		0
TSG
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Agreement period		20 years
Number of common shares received under agreement (in shares)	0.2253	1,100,000
Additional value of common shares receivable under agreement upon exercise of first option by TSG		$ 5,000,000.0
Common shares, sales restriction period, upon exercise of first option		1 year
Cumulative unrealized gains (losses)			6,500,000	$ 100,000	3,100,000	$ 1,500,000
TSG \| Marketable Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, total			15,800,000		15,800,000		$ 14,000,000.0
Cumulative unrealized gains (losses)					5,500,000		$ 3,700,000
TSG \| Restricted Cash and Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, total			$ 6,000,000.0		6,000,000.0
Cumulative unrealized gains (losses)					$ 1,300,000

Fair Value Measurements - Summary of Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
7% Senior Notes due 2023
Financial liabilities:
Long-term debt	$ 382,943	$ 390,938
Long-term debt	370,683	370,077
6% Senior Notes due 2025
Financial liabilities:
Long-term debt	914,760	922,031
Long-term debt	878,869	879,275
6% Senior Notes due 2026
Financial liabilities:
Long-term debt	652,782	662,250
Long-term debt	583,126	582,042
Term Loan
Financial liabilities:
Long-term debt	483,882	498,127
Long-term debt	481,762	490,768
Revolving Credit Facility
Financial liabilities:
Long-term debt	108,000	0
Long-term debt	108,000	0
Lumière Loan
Financial liabilities:
Long-term debt	246,000	246,000
Long-term debt	246,000	246,000
Other long-term debt
Financial liabilities:
Long-term debt	2,410	2,553
Long-term debt	$ 2,410	$ 2,554
Senior Secured Notes 7 Due 2023 \| Senior Notes
Financial liabilities:
Interest rate (as a percent)	7.00%
Senior Secured Notes 6 Due 2025 \| Senior Notes
Financial liabilities:
Interest rate (as a percent)	6.00%
Senior Secured Notes 6 Due 2026 \| Senior Notes
Financial liabilities:
Interest rate (as a percent)	6.00%

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		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Net (loss) income available to common stockholders	$ (99,996)	$ 18,936	$ (275,634)	$ 57,165
Shares outstanding:
Weighted average shares outstanding – basic (in shares)	80,053,676	77,682,759	79,009,373	77,625,303
Weighted Average Number of Shares Outstanding, Diluted, Total	80,053,676	78,725,289	79,009,373	78,657,552
Net (loss) income per common share attributable to common stockholders – basic: (in dollars per share)	$ (1.25)	$ 0.24	$ (3.49)	$ 0.74
Net (loss) income per common share attributable to common stockholders – diluted: (in dollars per share)	$ (1.25)	$ 0.24	$ (3.49)	$ 0.73
Stock options
Shares outstanding:
Effect of dilutive securities		107,388		105,885
Restricted Stock Units (RSUs)
Shares outstanding:
Effect of dilutive securities		935,142		926,364

- 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

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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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

Earnings per Share - Additional Information (Details) - shares	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
Stock options
Earnings Per Share, Basic and Diluted [Line Items]
Anti-dilutive shares excluded from calculation of Weighted average shares outstanding – diluted (in shares)	79,759	93,456
Restricted Stock Units (RSUs)
Earnings Per Share, Basic and Diluted [Line Items]
Anti-dilutive shares excluded from calculation of Weighted average shares outstanding – diluted (in shares)	266,523	446,910

Related Affiliates - Additional Information (Details)	3 Months Ended	6 Months Ended
Related Affiliates - Additional Information (Details)	Jun. 30, 2020 USD ($) a	Jun. 30, 2020 USD ($) a	Jun. 30, 2019 USD ($)	Dec. 31, 2019 USD ($)
Gary Carano Family
Related affiliates
Related party transactions		$ 0	$ 0
C. S. & Y. Associates
Related affiliates
Area of real property leased \| a	30,000	30,000
Annual rent payable	$ 600,000
Due to related parties	0	$ 0		$ 0
Due from related parties	$ 0	$ 0		$ 0
REI
Related affiliates
Percentage of outstanding shares owned	8.70%	8.70%

Segment Information - Additional Information (Details)	3 Months Ended		6 Months Ended
Segment Information - Additional Information (Details)	Jun. 30, 2020 u_eriRegionorSegment	Jun. 30, 2020 segment	Jun. 30, 2020 u_eriRegionorSegment
Segment Reporting [Abstract]
Number of geographic regions			5
Number of reportable segments	5	5	5

Segment Information - Schedule of Operating Data for Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenues and expenses
Net revenues	$ 126,470	$ 637,121	$ 599,539	$ 1,272,944
Depreciation and amortization	48,939	56,533	99,372	114,290
Operating (loss) income	(78,327)	102,550	(201,507)	226,154
Unallocated (loss) income and expenses:
Interest expense, net	(68,136)	(71,798)	(134,600)	(145,308)
Loss on extinguishment of debt	0	0	158	0
Unrealized gain (loss) on investments and marketable securities	12,806	(1,398)	(10,202)	(2,858)
Benefit (provision) for income taxes	33,661	(10,418)	70,833	(20,823)
Net (loss) income	(99,996)	18,936	(275,634)	57,165
West Segment
Revenues and expenses
Depreciation and amortization	13,299	13,508	27,237	26,651
Operating (loss) income	(12,808)	20,613	(110,265)	31,414
Midwest Segment
Revenues and expenses
Depreciation and amortization	4,148	7,714	8,670	16,135
Operating (loss) income	415	29,012	(18,939)	56,845
South Segment
Revenues and expenses
Depreciation and amortization	6,786	9,850	13,906	20,865
Operating (loss) income	(9,473)	19,023	(20,667)	46,538
East Segment
Revenues and expenses
Depreciation and amortization	11,046	12,240	22,287	24,389
Operating (loss) income	(21,231)	35,213	(10,215)	62,374
Central Segment
Revenues and expenses
Depreciation and amortization	11,793	11,480	23,556	22,690
Operating (loss) income	(8,194)	28,033	9,920	55,103
Operating Segment \| West Segment
Revenues and expenses
Net revenues	29,937	127,727	135,427	245,822
Operating Segment \| Midwest Segment
Revenues and expenses
Net revenues	22,787	97,239	83,580	194,026
Operating Segment \| South Segment
Revenues and expenses
Net revenues	30,760	116,937	127,812	249,651
Operating Segment \| East Segment
Revenues and expenses
Net revenues	21,226	170,455	129,282	336,688
Operating Segment \| Central Segment
Revenues and expenses
Net revenues	19,848	122,792	119,553	243,264
Corporate
Revenues and expenses
Net revenues	1,912	1,971	3,885	3,493
Depreciation and amortization	1,867	1,741	3,716	3,560
Operating (loss) income	$ (27,036)	$ (29,344)	$ (51,341)	$ (26,120)

Segment Information - Schedule of Capital Expenditures, Net of Reportable Segments (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting Information [Line Items]
Capital Expenditures, Net	$ 41,014	$ 97,114
West Segment
Segment Reporting Information [Line Items]
Capital Expenditures, Net	15,699	49,450
Midwest Segment
Segment Reporting Information [Line Items]
Capital Expenditures, Net	2,732	9,443
South Segment
Segment Reporting Information [Line Items]
Capital Expenditures, Net	7,707	10,098
East Segment
Segment Reporting Information [Line Items]
Capital Expenditures, Net	6,735	19,857
Central Segment
Segment Reporting Information [Line Items]
Capital Expenditures, Net	3,561	5,308
Corporate
Segment Reporting Information [Line Items]
Capital Expenditures, Net	$ 4,580	$ 2,958

Segment Information - Schedule of Balance Sheet Information for Reportable Segments (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 6,148,447	$ 5,640,553
Corporate, Other and Eliminations
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	(203,919)	(1,146,351)
West Segment
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	1,231,649	1,385,982
Midwest Segment
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	1,061,521	1,157,884
South Segment
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	1,034,363	1,132,707
East Segment
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	1,533,568	1,588,308
Central Segment
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 1,491,265	$ 1,522,023

Label	Element	Value
Restricted And Escrow Cash Included In Other Noncurrent	eri_RestrictedAndEscrowCashIncludedInOtherNoncurrent	$ 3,927,000
Restricted And Escrow Cash Included In Other Noncurrent	eri_RestrictedAndEscrowCashIncludedInOtherNoncurrent	6,428,000
Restricted Cash and Cash Equivalents, Current	us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue	3,017,000
Restricted Cash and Cash Equivalents, Current	us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue	$ 7,258,000