Caesars Entertainment (CZR) 10-Q 8 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 03, 2018
Document And Entity Information [Abstract]
Entity Registrant Name	Eldorado Resorts, Inc.
Entity Central Index Key	1,590,895
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		77,241,115
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Trading Symbol	ERI

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
CURRENT ASSETS:
Cash and cash equivalents	$ 183,138	$ 134,596
Restricted cash	3,659	3,267
Marketable securities	17,236	17,631
Accounts receivable, net	33,738	45,797
Due from affiliates	62	243
Inventories	15,210	16,870
Prepaid income taxes	606	4,805
Prepaid expenses and other	22,626	27,823
Assets held for sale	199,034
Total current assets	475,309	251,032
PROPERTY AND EQUIPMENT, NET	1,396,286	1,502,817
GAMING LICENSES AND OTHER INTANGIBLES, NET	917,110	996,816
GOODWILL	719,255	747,106
NON-OPERATING REAL PROPERTY	14,030	18,069
OTHER ASSETS, NET	30,230	30,632
Total assets	3,552,220	3,546,472
CURRENT LIABILITIES:
Current portion of long-term debt	553	615
Accounts payable	28,354	34,778
Due to affiliates	10
Accrued property, gaming and other taxes	36,107	43,212
Accrued payroll and related	49,944	53,330
Accrued interest	33,312	25,607
Income taxes payable	6	171
Accrued other liabilities	63,606	66,037
Liabilities related to assets held for sale	5,398
Total current liabilities	217,290	223,750
LONG-TERM DEBT, LESS CURRENT PORTION	2,190,110	2,189,578
DEFERRED INCOME TAXES	167,595	162,967
OTHER LONG-TERM LIABILITIES	18,594	28,579
Total liabilities	2,593,589	2,604,874
COMMITMENTS AND CONTINGENCIES (Note 11)
STOCKHOLDERS' EQUITY:
Common stock, 100,000,000 shares authorized, 77,241,115 and 76,825,966 issued and outstanding, par value $0.00001 as of March 31, 2018 and December 31, 2017, respectively	1
Paid-in capital	742,724	746,547
Retained earnings	215,827	194,972
Accumulated other comprehensive income	79	79
Total stockholders’ equity	958,631	941,598
Total liabilities and stockholders’ equity	$ 3,552,220	$ 3,546,472

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
Statement Of Financial Position [Abstract]
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	77,241,115	76,825,966
Common stock, shares outstanding	77,241,115	76,825,966
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
REVENUES:
Casino	$ 339,458	$ 141,554
Pari-mutuel commissions	4,070	636
Food and beverage	52,198	32,421
Hotel	30,741	19,305
Other	13,725	8,477
Net revenues	440,192	202,393
EXPENSES:
Casino	165,850	79,981
Pari-mutuel commissions	3,701	1,207
Food and beverage	44,776	26,018
Hotel	12,506	9,079
Other	7,405	6,169
Marketing and promotions	21,301	10,129
General and administrative	74,202	31,800
Corporate	11,569	6,574
Impairment charges	9,815
Depreciation and amortization	31,534	15,604
Total operating expenses	382,659	186,561
(LOSS) GAIN ON SALE OR DISPOSAL OF PROPERTY AND EQUIPMENT	(706)	32
TRANSACTION EXPENSES	(2,548)	(1,614)
EQUITY IN LOSS OF UNCONSOLIDATED AFFILIATES	(85)	(222)
OPERATING INCOME	54,194	14,028
OTHER INCOME (EXPENSE):
Interest expense, net	(31,251)	(12,670)
Total other expense	(31,251)	(12,670)
NET INCOME BEFORE INCOME TAXES	22,943	1,358
PROVISION FOR INCOME TAXES	(2,088)	(413)
NET INCOME	$ 20,855	$ 945
Net Income per share of Common Stock:
Basic	$ 0.27	$ 0.02
Diluted	$ 0.27	$ 0.02
Weighted average number of shares outstanding:
Weighted Average Basic Shares Outstanding	77,353,730	47,120,751
Weighted Average Diluted Shares Outstanding	78,080,049	48,081,281

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement Of Income And Comprehensive Income [Abstract]
NET INCOME	$ 20,855	$ 945
Other Comprehensive Income, net of tax:
Comprehensive Income, net of tax	$ 20,855	$ 945

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
NET INCOME	$ 20,855	$ 945
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	31,534	15,604
Amortization of deferred financing costs, discount and debt premium	1,446	877
Equity in loss of unconsolidated affiliates	85	222
Stock compensation expense	3,679	1,733
Loss (Gain) on sale or disposal of property and equipment	706	(32)
Provision for bad debt	375	218
Impairment charges	9,815
Provision for deferred income taxes	1,450	369
Other	23	16
Change in operating assets and liabilities:
Sale of trading securities	395
Accounts receivable	9,491	5,647
Inventory	(154)	(251)
Prepaid expenses and other assets	1,801	(1,423)
Interest payable	7,539	(10,006)
Income taxes payable	4,199	67
Accounts payable and accrued liabilities	(15,232)	(8,803)
Net cash provided by operating activities	78,007	5,183
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment, net	(21,271)	(6,206)
Proceeds from sale of property and equipment	150	32
Cash escrow related to acquisition		(376,750)
Decrease in other assets, net		(148)
Net cash used in investing activities	(21,121)	(383,072)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments on capital leases	(148)	(94)
Debt issuance costs	(304)	(7,016)
Taxes paid related to net share settlement of equity awards	(7,502)	(179)
Proceeds from exercise of stock options		434
Other	(22)
Net cash (used in) provided by financing activities	(7,976)	361,082
INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	48,910	(16,807)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR	147,749	63,443
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD	196,659	46,636
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO AMOUNTS REPORTED WITHIN THE CONDENSED CONSOLIDATED BALANCE SHEETS:
Cash and cash equivalents	183,138	44,574
Restricted cash	3,659	2,062
Restricted cash included in other noncurrent assets	9,862
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD	196,659	46,636
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest paid	21,814	23,546
Local income taxes paid (refunded)	186	(20)
NON-CASH FINANCING ACTIVITIES
Net change in payables for capital expenditures	$ 2,366	2,312
Prior Revolving Credit Facility
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under Revolving Credit Facility		23,000
Payments under Revolving Credit Facility		(29,000)
6% Senior Notes
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of Senior Notes		375,000
Term Loan
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments under Term Loan		$ (1,063)

CONSOLIDATED STATEMENTS OF CAS7

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical)	Mar. 31, 2017
6% Senior Notes
Interest rate on Senior Notes	6.00%

Organization and Basis of Prese

Organization and Basis of Presentation	3 Months Ended
	Mar. 31, 2018
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization and Basis of Presentation	Note 1. Organization and Basis of Presentation Organization The accompanying unaudited consolidated financial statements include the accounts of Eldorado Resorts, Inc. (“ERI” or the “Company”), a Nevada corporation formed in September 2013, and its consolidated subsidiaries. The Company acquired Mountaineer, Presque Isle Downs and Scioto Downs in September 2014 pursuant to a merger (the “MTR Merger”) with MTR Gaming Group, Inc. (“MTR Gaming”) and in November 2015 it acquired Circus Reno and the interests in the Silver Legacy that it did not own prior to such date (the “Reno Acquisition”). On May 1, 2017 (the “Isle Acquisition Date”), the Company completed its acquisition of Isle of Capri Casinos, Inc. pursuant to the Agreement and Plan of Merger (the “Merger Agreement”) dated as of September 19, 2016 with Isle of Capri Casinos, Inc., a Delaware corporation (“Isle” or “Isle of Capri”), Eagle I Acquisition Corp., a Delaware corporation and a direct wholly-owned subsidiary of the Company, and Eagle II Acquisition Company LLC, a Delaware limited liability company and a direct wholly-owned subsidiary of the Company (the “Isle Acquisition” or the “Isle Merger”). As a result of the Isle Merger, Isle became a wholly-owned subsidiary of ERI. ERI owns and operates the following properties: • Eldorado Resort Casino Reno ( “ ” — • Silver Legacy Resort Casino ( “ ” — • Circus Circus Reno ( “ ” — • Eldorado Resort Casino Shreveport ( “ ” — • Mountaineer Casino, Racetrack & Resort ( “ ” — ’ • Presque Isle Downs & Casino ( “ ” — • Eldorado Gaming Scioto Downs ( “ ” — “ ” s”) • Isle Casino Hotel — — • Lady Luck Casino — — • Isle Casino Racing Pompano Park (“Pompano”) — • Isle Casino Bettendorf (“Bettendorf”) — • Isle Casino Waterloo (“Waterloo”) — • Isle of Capri Casino Hotel Lake Charles (“Lake Charles”) — • Isle of Capri Casino Lula (“Lula”) — • Lady Luck Casino Vicksburg (“Vicksburg”) — • Isle of Capri Casino Boonville (“Boonville”) — • Isle Casino Cape Girardeau (“Cape Girardeau”) — • Lady Luck Casino Caruthersville (“Caruthersville ”)— • Isle of Capri Casino Kansas City (“Kansas City”) — • Lady Luck Casino Nemacolin (“Nemacolin”) — In addition, Scioto Downs, through its subsidiary RacelineBet, Inc., also operates Racelinebet.com, a national account wagering service that offers online and telephone wagering on horse races as a marketing affiliate of TwinSpires.com, an affiliate of Churchill Downs Incorporated. Reclassifications Certain reclassifications of prior year presentations have been made to conform to the current period presentation. Basis of Presentation The accompanying unaudited consolidated financial statements of the Company and its subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information with the instructions for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by US GAAP for complete financial statements. In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments, all of which are normal and recurring, considered necessary for a fair presentation and have been included herein. The results of operations for these interim periods are not necessarily indicative of the operating results for other quarters, for the full year or any future period. The financial information included for periods prior to our acquisition of Isle are those of ERI and its subsidiaries. The presentation of information herein for periods prior to our acquisition of Isle and after our acquisition of Isle are not fully comparable because the results of operations for Isle are not included for periods prior to our acquisition of Isle. 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, 2017. Recently Issued Accounting Pronouncements – New Developments and Adoptions of New Accounting Standards In May 2014 (amended January 2017), the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers,” (ASC Topic 606) which provides a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and eliminates existing industry guidance, including revenue recognition guidance specific to the gaming industry. The core principle of the revenue model indicates that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. We adopted this standard effective January 1, 2018, and elected to apply the full retrospective adoption method. The most significant impacts of the adoption are summarized below in Note 2. In February 2016, the FASB issued ASU No. 2016-02 which addresses the recognition and measurement of leases. Under the new guidance, for all leases (with the exception of short-term leases), at the commencement date, lessees will be required to recognize a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis, and a right-of-use (“ROU”) asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Under the new guidance, lessor accounting is largely unchanged. Further, the new lease guidance simplifies the accounting for sale and leaseback transactions primarily because lessees must recognize lease assets and liabilities, which no longer provides a source for off balance sheet financing. The effective date for this update is for the annual and interim periods beginning after December 15, 2018 with early adoption permitted. Lessees and lessors must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the consolidated financial statements. Currently, we do not have any material capital leases nor any material operating leases where we are the lessor. Our operating leases, primarily relating to certain ground leases and slot machines or VLTs, will be recorded on the balance sheet as an ROU asset with a corresponding lease liability, which will be amortized using the effective interest rate method as payments are made. The ROU asset will be depreciated on a straight-line basis and recognized as lease expense. The qualitative and quantitative effects of adoption of ASU 2016-02 are still being analyzed, and we are in the process of evaluating the full effect the new guidance will have on our consolidated financial statements and any new considerations with respect to any pending acquisitions. In November 2016, ASU No. 2016-18 was issued related to the inclusion of restricted cash in the statement of cash flows. This new guidance requires that a statement of cash flows present the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalent. This update is effective in fiscal years, including interim periods, beginning after December 15, 2017. The Company retrospectively adopted this guidance as of December 31, 2017. Upon adoption, the Company included a reconciliation of Cash and cash equivalents and restricted cash reported within the Consolidated Balance Sheets to the total shown in the Consolidated Statements of Cash Flows. Adoptions of this guidance had no other impact on the Consolidated Financial Statements or disclosures. Certain amounts have been retrospectively reclassified for the three months ended March 31, 2017 to conform to the current period presentation and reflect the change in the Company’s Consolidated Statements of Cash Flows required with the adoption of ASU No. 2016-15 as of January 1, 2018 related to the classification of certain items on the statement of cash flows and ASU No 2016-18 as of December 31, 2017 related to the inclusion of restricted cash in the statement of cash flows as further described above. In January 2017, the FASB issued ASU No. 2017-01, “Business Combinations – Clarifying the Definition of a Business.” This amendment is intended to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisition (or disposals) of assets or businesses. Amendments in this update provide a more robust framework to use in determining when a set of assets and activities is a business and to provide more consistency in applying the guidance, reduce the costs of application, and make the definition of a business more operable. The amendments are effective for interim and annual periods beginning after December 15, 2017, with early adoption allowed as follows: (1) transactions for which acquisition date occurs before the issuance date or effective date of the amendments, only when the transaction has not been reported in financial statements that have been issued or made available for issuance and (2) transactions in which a subsidiary is deconsolidated or a group of assets is derecognized that occur before the issuance date or effective date of the amendments, only when the transaction has not been reported in financial statements that have been issued or made available for issuance. We adopted this accounting standard during the first quarter of 2018, which did not have an impact on our consolidated financial statements, and will result in future acquisitions which do not involve substantive processes being accounted for as asset acquisitions.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2018
Revenue Recognition [Abstract]
Revenue Recognition	Note 2. Revenue Recognition The Company’s revenue contracts with customers consists primarily of casino wagers, pari-mutuel commissions, food and beverage transactions, hotel sales, retail and entertainment contracts. Casino Revenue and Pari-mutuel Commissions The Company recognizes as casino revenue (transaction price) 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. Such fees are based upon a predetermined percentage of handle as contracted with the other race tracks. Gaming wager contracts involve two performance obligations for those customers earning points under the Company’s loyalty program and a single performance obligation for customers who don’t participate in the program. The Company applies a practical expedient by accounting for its gaming contracts on a portfolio basis as such wagers have similar characteristics and the Company reasonably expects the effects on the financial statements of applying the revenue recognition guidance to the portfolio to not differ materially from that which would result if applying the guidance to an individual wagering contract. Loyalty Programs and Other Contract Obligations The Company offers programs at its properties whereby our participating customers can accumulate points for wagering that can be redeemed for credits for free play on slot machines, lodging, food and beverage, merchandise and in limited situations, cash. The incentives earned by customers under these programs are based on previous revenue transactions and represent separate performance obligations. Points earned, less breakage, are recorded as a reduction of casino revenues at the retail value of such benefits owed to the customer and recognized as departmental revenue based on where such points are redeemed, upon fulfillment of the performance obligation. The loyalty program liability represents a deferral of revenue until redemption occurs, which is typically less than one year. For purposes of allocating the transaction price in a wagering contract between the wagering performance obligation and the obligation associated with the loyalty points earned, the Company allocates an amount to the loyalty point contract liability based on the stand-alone selling price of the points earned, which is determined by the value of a point that can be redeemed for a non-gaming good or service. An amount is allocated to the gaming wager performance obligation using the residual approach as the stand-alone price for wagers is highly variable and no set established price exists for such wagers. The allocated revenue for gaming wagers is recognized when the wagers occur as all such wagers settle immediately. The loyalty point contract liability amount is deferred and recognized as revenue when the customer redeems the points for the non-gaming good or service at the time such goods or services are delivered to the customer. The Company’s liability for its loyalty point performance obligations totaled $11.5 million and $11.8 million at March 31, 2018 and December 31, 2017, respectively. Historically, the Company’s loyalty points earned and redeemed are substantially constant over time, which results in the loyalty point performance obligation balance remaining fairly consistent across our reporting periods. Non-gaming Revenue Hotel, food and beverage, and other operating revenues are recognized as services are performed. The transaction price for hotel, food and beverage contracts is the net amount collected from the customer for such goods and services. Hotel, food and beverage services have been determined to be separate, stand-alone performance obligations and the transaction price for such contracts is recorded as revenue as the good or service is transferred to the customer over the customer’s stay at the hotel or when the delivery is made for the food and beverage. Advance deposits for future hotel occupancy, convention space or food and beverage services contracts are recorded as deferred income until the revenue recognition criteria has been met. The Company also provides goods and services that may include multiple performance obligations, such as for packages, for which revenues are allocated on a pro rata basis based on each service's stand-alone selling price. Complimentaries The Company offers discretionary coupons and other discretionary complimentaries to customers outside of the loyalty program. The retail value of complimentary food, beverage, hotel rooms and other services provided to customers, including loyalty point redemptions, is recognized in revenues when the goods or services are transferred to the customer. Complimentaries provided by third parties at the discretion and under the control of the Company is recorded as an expense when incurred. The Company’s revenues included complimentaries and loyalty point redemptions of $47.2 million and $23.7 million for the three months ended March 31, 2018 and 2017, respectively. Adoption of ASC Topic 606 The adoption of ASC Topic 606 on January 1, 2018 principally affected the presentation of promotional allowances and how the Company measured the liability associated with our customer loyalty programs. The presentation of gross revenues for complimentary goods and services provided to guests with a corresponding offsetting amount included in promotional allowances was eliminated. This adjustment in presentation of promotional allowances did not have an impact on the Company’s historically reported net operating revenues. The majority of such amounts previously included in promotional allowances now offset casino revenues based on an allocation of revenues to performance obligations using stand-alone selling price. Food, beverage, lodging and other services furnished to our guests on a complimentary basis are measured at the respective estimated standalone selling prices and included as revenues within food and beverage, lodging, and retail, entertainment and other, which generally resulted in a corresponding decrease in gaming revenues. The costs of providing such complimentary goods and services are included as expenses within food and beverage, lodging, and retail, entertainment and other. Additionally, as a result of the adoption of the new standard, certain adjustments and other reclassifications to and between revenue categories and to and between expense categories were required; however, the amounts associated with such adjustments did not have a significant impact on the Company’s previously reported operating income or net income. Liabilities associated with our customer loyalty programs are no longer valued at cost; rather a deferred revenue model is used to account for the classification and timing of revenue to be recognized related to the redemption of loyalty program liabilities by our customers. Points earned under the Company’s loyalty programs are deemed to be separate performance obligations, and recorded as a reduction of casino revenues when earned at the retail value of such benefits owed to the customer and recognized as departmental revenue based on where such points are redeemed, upon fulfillment of the performance obligation. The Company elected to adopt the full retrospective method to apply the new guidance to each prior reporting period presented as if it had been in effect since January 1, 2015, with a pre-tax cumulative effect adjustment to our retained earnings upon adoption of $4.7 million. Net of tax, the cumulative effect adjustment to our retained earnings upon adoption was $3.5 million. This was primarily related to our loyalty program point liability, which increased from an estimated incremental cost model to a deferred revenue model at retail value. Adoption of the new standard did not have a significant impact on our previously reported net revenue, expenses, operating income, and net income. The impact of adoption of the new standard to previously reported selected financial statement information was as follows (in thousands): Three Months Ended March 31, 2017 As Reported Adjustments As Adjusted Gross revenues $ 219,546 $ (17,153 ) $ 202,393 Promotional allowances (18,621 ) 18,621 — Net revenues $ 200,925 $ 1,468 $ 202,393 Operating income (loss) $ 14,149 $ (121 ) $ 14,028 Net income (loss) $ 1,021 $ (76 ) $ 945 The Company’s consolidated statement of income presents net revenue disaggregated by type or nature of the good or service (i.e., casino, pari-mutuel, food and beverage, hotel and other). A summary of net revenues disaggregated by type of revenue and reportable segment is presented below (amounts in thousands). Refer to Note 13 for a discussion of the Company’s reportable segments. Three Months Ended March 31, 2018 West Midwest South East Corporate and Other Total Casino $ 49,734 $ 88,359 $ 97,509 $ 103,856 $ — $ 339,458 Pari-mutuel commissions — — 3,409 661 — 4,070 Food and beverage 23,211 6,916 13,860 8,211 — 52,198 Hotel 19,430 3,637 5,992 1,682 — 30,741 Other 7,204 1,883 2,030 2,481 127 13,725 Net revenues $ 99,579 $ 100,795 $ 122,800 $ 116,891 $ 127 $ 440,192 Three Months Ended March 31, 2017 West Midwest South East Corporate and Other Total Casino $ 23,833 $ — $ 23,169 $ 94,552 $ — $ 141,554 Pari-mutuel commissions — — — 636 — 636 Food and beverage 19,492 — 5,734 7,195 — 32,421 Hotel 14,651 — 2,924 1,730 — 19,305 Other 5,512 — 733 2,174 58 8,477 Net revenues $ 63,488 $ — $ 32,560 $ 106,287 $ 58 $ 202,393

Isle Acquisition and Final Purc

Isle Acquisition and Final Purchase Price Accounting	3 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
Isle Acquisition and Final Purchase Price Accounting	Note 3. Isle Acquisition and Final Purchase Price Accounting Final Purchase Price Accounting – Isle of Capri On May 1, 2017, the Company completed its acquisition of Isle. As of March 31, 2018, the Company finalized its purchase price accounting related to the Isle Acquisition The total purchase consideration in the Isle Acquisition was determined with reference to the fair value on the date of the Merger Agreement as follows: Purchase consideration calculation (dollars in thousands, except shares and stock price) Shares Per share Cash paid for outstanding Isle common stock (1) $ 552,050 Shares of ERI common stock issued for Isle common stock (2) 28,468,182 $ 19.12 544,312 Cash paid by ERI to retire Isle's long-term debt (3) 828,000 Shares of ERI common stock for Isle equity awards (4) 10,383 Purchase consideration $ 1,934,745 (1) The cash component of the consideration represents 58% of the aggregate consideration paid in the Isle Acquisition. The Merger Agreement provided that Isle stockholders could elect to exchange each share of Isle common stock for either $23.00 in cash or 1.638 shares of ERI common stock, subject to proration such that the outstanding shares of Isle common stock will be exchanged for aggregate consideration comprised of 58% cash and 42% ERI common stock. See discussion of Stock Consideration component in note (2) below. (2) The Stock Consideration component of the consideration represents 42% of the aggregate consideration paid in the Isle Acquisition. The Merger Agreement provided that 58% of the aggregate consideration would be paid by ERI in cash, as described in note (1) above. The remaining 42% of the aggregate consideration was paid in shares of ERI common stock. The total Stock Consideration and per share consideration above were based on the ERI stock price on April 28, 2017 (the last business day prior to Isle Acquisition Date) which was $19.12 per share. (3) In addition to the cash paid to retire the principal amounts outstanding of Isle’s long-term debt, ERI paid $26.6 million in premiums and interest. (4) This amount represents consideration paid for the replacement of Isle’s outstanding equity awards. As discussed in Note 1, Isle’s outstanding equity awards were replaced by ERI equity awards with similar terms. A portion of the fair value of ERI awards issued represents consideration transferred, while a portion represents compensation expense based on the vesting terms of the equity awards. The following table summarizes the final purchase accounting of the purchase consideration to the identifiable Current and other assets, net $ 135,925 Property and equipment 908,816 Goodwill 709,087 Intangible assets (i) 517,470 Other noncurrent assets 15,082 Total assets 2,286,380 Current liabilities (144,306 ) Deferred income taxes (ii) (189,952 ) Other noncurrent liabilities (17,377 ) Total liabilities (351,635 ) Net assets acquired $ 1,934,745 (i) Intangible assets consist of gaming licenses, trade names, and player relationships. (ii) Deferred tax liabilities were derived based on fair value adjustments for property and equipment and identified intangibles. During the three months ended March 31, 2018, the Company finalized its valuation procedures and adjusted the Isle of Capri preliminary purchase price accounting, as disclosed in the Annual Report on Form 10-K for the year ended December 31, 2017, to their updated values. Except for other long-term liabilities related to Bettendorf and Nemacolin (see Note 8) and a corresponding goodwill adjustment totaling $6.1 million (net of tax), the finalization of our purchase price accounting resulted in minimal changes and refinements by management as of, and for the three months ended March 31, 2018. Valuation methodologies under both a market and income approach used for the identifiable net assets acquired in the Isle Acquisition make use of Level 1 and Level 3 inputs including quoted prices in active markets and discounted cash flows using current interest rates and are provisional pending development of a final valuation. Trade receivables and payables, inventory and other current and noncurrent assets and liabilities were valued at the existing carrying values as they represented the estimated fair value of those items at the Isle Acquisition Date, based on management’s judgment and estimates. The fair value of land was determined using the market approach, which arrives at an indication of value by comparing the site being valued to sites that have been recently acquired in arm’s-length transactions. The market data is then adjusted for any significant differences, to the extent known, between the identified comparable sites and the site being valued. Building and site improvements were valued using the cost approach using a direct cost model built on estimates of replacement cost. With respect to personal property components of the assets, personal property assets with an active and identifiable secondary market such as riverboats, gaming equipment, computer equipment and vehicles were valued using the market approach. Other personal property assets such as furniture, fixtures, computer software, and restaurant equipment were valued using the cost approach which is based on replacement or reproduction costs of the asset. The cost approach is an estimation of fair value developed by computing the current cost of replacing a property and subtracting any depreciation resulting from one or more of the following factors: physical deterioration, functional obsolescence, and/or economic obsolescence. The income approach incorporates all tangible and intangible property and served as a ceiling for the fair values of the acquired assets of the ongoing business enterprise, while still taking into account the premise of highest and best use. In the instance where the business enterprise value developed via the income approach was exceeded by the initial fair values of the underlying assets, an adjustment to reflect economic obsolescence was made to the tangible assets on a pro rata basis to reflect the contributory value of each individual asset to the enterprise as a whole. The fair value of the gaming licenses was determined using the excess earnings or replacement cost methodology based on the respective states’ legislation. The excess earnings methodology, which is an income approach methodology that allocates the projected cash flows of the business to the gaming license intangible assets less charges for the use of other identifiable assets of Isle including working capital, fixed assets and other intangible assets. This methodology was considered appropriate as the gaming licenses are the primary asset of Isle and the licenses are linked to each respective facility. Under the respective state’s gaming legislation, the property specific licenses can only be acquired if a theoretical buyer were to acquire each existing facility. The existing licenses could not be acquired and used for a different facility. The properties’ estimated future cash flows were the primary assumption in the respective valuations. Cash flow estimates included net gaming revenue, gaming operating expenses, general and administrative expenses, and tax expense. The replacement cost methodology is a cost approach methodology based on replacement or reproduction cost of the gaming license as an indicator of fair value. The acquired Isle properties currently have licenses in Pennsylvania, Iowa, Missouri, Mississippi, Florida and Colorado. The renewal of each state’s gaming license depends on a number of factors, including payment of certain fees and taxes, providing certain information to the state’s gaming regulator, and meeting certain inspection requirements. However, ERI’s historical experience has not indicated, nor does ERI expect, any limitations regarding its ability to continue to renew each license. No other competitive, contractual, or economic factor limits the useful lives of these assets. Accordingly, ERI has concluded that the useful lives of these licenses are indefinite. Trademarks are valued using the relief from royalty method, which presumes that without ownership of such trademarks, ERI would have to make a stream of payments to a brand or franchise owner in return for the right to use their name. By virtue of this asset, ERI avoids any such payments and record the related intangible value of ERI’s ownership of the brand name. The primary assumptions in the valuation included revenue, pre-tax royalty rate, and tax expense. Trade names were valued using the relief‑from‑royalty method. The loyalty program was valued using a comparative business valuation method. Management has assigned trade names an indefinite useful life, in accordance with its review of applicable guidance of ASC Topic No. 350, “Intangibles-Goodwill and Other” (“ASC 350”). The standard required ERI to consider, among other things, the expected use of the asset, the expected useful life of other related asset or asset group, any legal, regulatory, or contractual provisions that may limit the useful life, ERI’s own historical experience in renewing similar arrangements, the effects of obsolescence, demand and other economic factors, and the maintenance expenditures required to obtain the expected cash flows. In that analysis, ERI determined that no legal, regulatory, contractual, competitive, economic or other factors limit the useful lives of these intangible assets. Isle Operating Results and Transaction Expenses For the three months ended March 31, 2018, Isle generated revenue of $231.9 million and net income of $30.4 million. Transaction expenses attributed to the Isle Acquisition are reported on the accompanying statements of income related to legal, accounting, financial advisory services, severance, stock awards and other costs and totaled $1.0 million and $1.6 million for the three months ended March 31, 2018 and 2017, respectively. Unaudited Pro Forma Information The following unaudited pro forma information presents the results of operations of the Company for the three months ended March 31, 2017, as if the Isle Acquisition had occurred on January 1, 2017 (in thousands). Three Months Ended March 31, 2017 Net operating revenues $ 448,469 Net loss (30,303 ) These pro forma results do not necessarily represent the results of operations that would have been achieved if the acquisition had taken place on January 1, 2017, nor are they indicative of the results of operations for future periods. The pro forma amounts include the historical operating results of the Company and Isle prior to the Isle Acquisition with adjustments directly attributable to the Isle Acquisition.

Assets Held for Sale

Assets Held for Sale	3 Months Ended
	Mar. 31, 2018
Discontinued Operations And Disposal Groups [Abstract]
Assets Held for Sale	Note 4. Assets Held for Sale On February 28, 2018, the Company entered into definitive agreements to sell substantially all of the assets and liabilities of Presque Isle Downs and Vicksburg to Churchill Downs Incorporated (“CDI”). Under the terms of the agreements, CDI will purchase Presque Isle Downs for cash consideration of approximately $178.9 million and Vicksburg for cash consideration of approximately $50.6 million, in each case subject to a customary working capital adjustment (the “Dispositions”). Additionally, an impairment charge was recorded related to Vicksburg during the three months ended March 31, 2018 (see Note 6). The Dispositions are subject to receipt of required regulatory approvals, termination of the waiting period under the Hart-Scott-Rodino Act (the “HSR Act”) and other customary closing conditions, including, in the case of Presque Isle Downs, the prior closing of the sale of Vicksburg or the entry into an agreement to acquire another asset of the Company. On May 7, 2018, the Company and CDI each received a Request for Additional Information and Documentary Materials, often referred to as a “Second Request,” from the Federal Trade Commission (“FTC”) in connection with the FTC’s review of the Vicksburg acquisition. The Second Request was issued under the HSR Act. Issuance of the Second Request extends the waiting period under the HSR Act until 30 days after the Company and CDI have substantially complied with the Second Request, unless the waiting period is extended voluntarily by the parties or terminated earlier by the FTC. The Company and CDI continue to cooperate fully with the FTC in its review. The Dispositions are expected to close in the third or fourth quarter of 2018 subject to satisfaction of closing conditions (including termination of the waiting period under the HSR Act and, in the case of Presque Isle Downs, the prior closing of the sale of Vicksburg or the entry into an agreement to acquire another asset of the Company. The Dispositions met the requirements for presentation as assets held for sale under generally accepted accounting principles as of March 31, 2018. The assets and liabilities held for sale were as follows (in thousands): March 31, 2018 Vicksburg Presque Isle Downs Total Assets: Accounts receivable, net $ 110 $ 2,083 $ 2,193 Inventories 283 1,530 1,813 Prepaid expenses and other 232 1,072 1,304 Property and equipment, net 35,615 68,039 103,654 Goodwill 8,806 3,122 11,928 Other intangibles, net 2,720 75,422 78,142 Assets held for sale $ 47,766 $ 151,268 $ 199,034 Liabilities: Accounts payable $ 181 $ 688 $ 869 Accrued payroll and related 183 537 720 Accrued property and other taxes — 61 61 Accrued other liabilities 367 3,381 3,748 Liabilities related to assets held for sale $ 731 $ 4,667 $ 5,398

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2018
Share Based Compensation [Abstract]
Stock-Based Compensation	Note 5. Stock-Based Compensation Common Stock and Stock‑Based Awards The Company has authorized common stock of 100,000,000 shares, par value $0.00001 per share. In February 2018, the Board of Directors approved and adopted an amendment (the “Common Stock Amendment”) to the Company’s Restated Certificate of , subject to approval by the Company’s stockholders that would increase the total number of authorized shares of common stock from 100,000,000 shares to 200,000,000 shares The Company accounts for stock-based compensation in accordance with ASC 718, Compensation—Stock Compensation The Board of Directors (“BOD”) adopted the Eldorado Resorts, Inc. 2015 Equity Incentive Plan (“2015 Plan”) on January 23, 2015 and our shareholders subsequently approved the adoption of the 2015 Plan on June 23, 2015. The Plan permits the granting of stock options, including incentive stock options (“ERI Stock Options”), stock appreciation rights, restricted stock or restricted stock units (“RSUs”), performance awards, and other stock-based awards and dividend equivalents. ERI Stock Options primarily vest ratably over three years and RSUs granted to employees and executive officers primarily vest and become non-forfeitable upon the third anniversary of the date of grant. The stock ownership guidelines require our non-employee directors to hold shares of our common stock with a minimum value equal to five times the director’s annual cash base retainer fee. Prior to achievement of the minimum stock ownership guideline, RSU grants will vest immediately; however, settlement will be mandatorily deferred until termination of Board service. After minimum stock ownership is achieved, unless the director voluntarily elects to defer settlement of the RSUs, the RSUs will vest and be settled immediately at the time of grant. The performance awards relate to the achievement of defined levels of performance and are generally measured over a one or two-year performance period depending upon the award agreement. If the performance award levels are achieved, the awards earned will vest and become payable at the end of the vesting period, defined as either a one or two calendar year period following the performance period. Payout ranges are from 0% up to 200% of the award target. Pursuant to the Merger Agreement, the outstanding equity awards of Isle were converted into comparable equity awards of ERI stock as follows: Isle stock options. Each option or other right to acquire Isle common stock (each an “Isle Stock Option”) that was outstanding immediately prior to the Isle Acquisition Date (whether vested or unvested), as of the Isle Acquisition Date, (i) continued to vest or accelerate (if unvested), as the case may be, in accordance with the applicable Isle stock plan, the award agreement pursuant to which such Isle Stock Option was granted and, if applicable, any other relevant agreements (such as an employment agreement), (ii) ceased to represent an option or right to acquire shares of Isle common stock, and (iii) was converted into an option or right to purchase that number of shares ERI common stock equal to the number of shares of Isle common stock subject to the Isle Stock Option multiplied by the Stock Consideration at an exercise price equal to the exercise price of the Isle Stock Option divided by the Stock Consideration, subject to the same restrictions and other terms as are set forth in the Isle equity incentive plan, the award agreement pursuant to which such Isle Stock Option was granted and, if applicable, any other relevant agreements (such as an employment agreement). Isle restricted stock awards. Each share of Isle common stock subject to vesting, repurchase or lapse restrictions (each an “Isle Restricted Share”) that was outstanding under any Isle equity plan or otherwise immediately prior to the Isle Acquisition Date, as of the Isle Acquisition Date, continued to vest or accelerate (if unvested), as the case may be, in accordance with the applicable Isle stock plan, the award agreement pursuant to which such Isle Restricted Share was granted, and, if applicable, any other relevant agreements (such as an employment agreement) and was exchanged for shares of ERI common stock (in an amount equal to the Stock Consideration, with aggregated fractional shares rounded to the nearest whole share) and remain subject to the same restrictions and other terms as are set forth in the Isle stock plan, the award agreement pursuant to which such Isle Restricted Share was granted, and, if applicable, any other relevant agreements (such as an employment agreement). Isle performance stock units. Each performance stock unit (each, an “Isle PSU”) that was outstanding immediately prior to the Isle Acquisition Date, as of the Isle Acquisition Date, (i) continued to vest or accelerate (if unvested), as the case may be, in accordance with the applicable Isle stock plan, the award agreement pursuant to which such Isle PSU was granted, and, if applicable, any other relevant agreements (such as an employment agreement), (ii) was converted into a number of performance stock units in respect of shares of ERI common stock, in an amount equal to the Stock Consideration (with aggregated fractional shares rounded to the nearest whole share) at the target level of performance, and (iii) remain subject to the same restrictions and other terms as are set forth in the Isle stock plan, the award agreement pursuant to which such Isle PSU was granted, and, if applicable, any other relevant agreements (such as an employment agreement). Isle restricted stock units. Each restricted stock unit, deferred stock unit or phantom unit in respect of a share of Isle common stock granted under the applicable Isle stock plan or otherwise, including any such units held in participant accounts under any employee benefit or compensation plan or arrangement of Isle, other than an Isle PSU (each an “Isle RSU”) that was outstanding immediately prior to the Isle Acquisition Date, as of the Isle Acquisition Date, (i) continued to vest or accelerate (if unvested), as the case may be, in accordance with the applicable Isle stock plan, the award agreement pursuant to which such Isle RSU was granted, and, if applicable, any other relevant agreements (such as an employment agreement or applicable employee benefit plan), (ii) was converted into a number of restricted stock units, deferred stock units or phantom units, as applicable, in respect of shares of ERI common stock, in an amount equal to the Stock Consideration (with aggregated fractional shares rounded to the nearest whole share), and (iii) remain subject to the same restrictions and other terms as are set forth in the Isle stock plan, the award agreement pursuant to which such Isle RSU was granted, and, if applicable, any other relevant agreements (such as an employment agreement or applicable employee benefit plan). On January 27, 2017, the Company granted 298,761 RSUs (time-based awards and performance awards with a two-year performance period) to executive officers and key employees, and 46,282 RSUs (time-based awards) to non-employee members of the BOD under the 2015 Plan. The performance awards granted in 2017 are subject to a two-year performance period (2017 and 2018), with a one‑year additional vesting requirement, resulting in a total vesting period of three years from the grant date. Performance achievement over the two-year performance period is measured by averaging the level of achievement attained during each of 2017 and 2018. PSUs are earned as follows: 50% of the target number of PSUs will be earned at threshold performance, 100% of the target number of PSUs will be earned at target performance, and up to 200% of the target number of PSUs will be earned at maximum performance. No award is earned if performance falls below the threshold level. Following the end of the two-year performance period, the vesting of earned PSUs are subject to an additional one-year service condition. The January 27, 2017, RSUs had a fair value of $15.50 per unit which was the NASDAQ closing price on that date. An additional 246,755 RSUs were also granted to key employees during the year ended December 31, 2017. On January 26, 2018, the Company granted 242,939 RSUs (time-based awards and performance awards with a two-year performance period) to executive officers, key employees, and 32,284 RSUs (time-based awards) to non-employee members of the BOD under the 2015 Plan. The RSUs had a fair value of $33.05 per unit which was the NASDAQ closing price on that date. An additional 7,415 RSUs were granted at 116% of target following the finalization of actual results of the first year of the two-year 2017 performance period. A summary of the RSU activity for the three months ended March 31, 2018 is presented in the following table: Equity Awards Weighted- Average Grant Date Fair Value Weighted- Average Remaining Contractual Life Aggregate Fair Value (in years) (in millions) Unvested outstanding as of December 31, 2017 1,579,499 $ 12.25 0.92 $ 19.35 Granted (1) 282,638 32.59 Vested (2) (665,704 ) 5.91 Unvested outstanding as of March 31, 2018 1,196,433 $ 20.59 1.58 $ 24.63 (1) Includes 78,674 of performance awards at 100% of target, 196,549 time-based awards at 100% of target and 7,415 of the first year of the two-year 2017 performance awards at 116% of target. (2) Represents 357,565 performance awards and 255,511 time-based awards granted in January 2015 which vested in January 2018, 9,786 Isle RSUs, 10,558 time-based awards granted to a key employee in May 2017 and 32,284 awards granted to non-employee board members in January 2018 which vested immediately. A summary of the ERI Stock Option activity for the three months ended March 31, 2018 is presented in the following table: Weighted- Weighted- Average Average Range of Exercise Remaining Aggregate Options Exercise Prices Price Contractual Life Intrinsic Value (in years) (in millions) Outstanding and Exercisable as of December 31, 2017 271,852 $ 3.94 $ 15.60 $ 9.63 5.22 $ 6.4 Exchanged — — — — Expired — — — — Exercised — — — — Outstanding and Exercisable as of March 31, 2018 271,852 $ 3.94 $ 15.60 $ 9.63 4.97 $ 6.2 A summary of the ERI Restricted Stock Awards activity for the three months ended March 31, 2018 is presented in the following table: Weighted- Average Grant Date Restricted Stock Fair Value Outstanding as of December 31, 2017 10,809 $ 19.13 Vested (2,403 ) 19.13 Outstanding as of March 31, 2018 8,406 $ 19.13 There were no options exercised or expired during the three months ended March 31, 2018. The Company’s unrecognized compensation cost for unvested restricted stock awards was $18,000 as of March 31, 2018.

Other and Intangible Assets, Ne

Other and Intangible Assets, Net	3 Months Ended
	Mar. 31, 2018
Other And Intangible Assets Net Disclosure [Abstract]
Other and Intangible Assets, Net	Note 6. Other and Intangible Assets, net Other and intangible assets, net, include the following amounts (in thousands): March 31, December 31, 2018 2017 Useful Life (unaudited) Goodwill $ 719,255 $ 747,106 Indefinite Gaming licenses $ 801,774 $ 877,174 Indefinite Trade names 105,550 108,250 Indefinite Trade names 5,100 6,700 1 - 3.5 years Loyalty programs 20,193 21,820 1 - 3 years Subtotal 932,617 1,013,944 Accumulated amortization trade names (5,100 ) (6,290 ) Accumulated amortization loyalty programs (10,407 ) (10,838 ) Total gaming licenses and other intangible assets $ 917,110 $ 996,816 Non-operating real property $ 14,030 $ 18,069 Unamortized debt issuance costs - New Revolving Credit Facility $ 8,115 $ 8,616 Restricted cash 9,862 9,886 Other 12,253 12,130 Total other assets, net $ 30,230 $ 30,632 Goodwill represents the excess of the purchase prices of acquiring MTR Gaming and Isle over the fair market value of the net assets acquired. In conjunction with the classification of Vicksburg’s operations as assets held for sale (see Note 4) as a result of the announced sale to Churchill Downs Incorporated, an impairment charge totaling $9.8 million was recorded for the three months ended March 31, 2018 due to the carrying value exceeding the estimated net sales proceeds. 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 an indefinite useful lives. Amortization expense related to trade names and loyalty programs for the three months ended March 31, 2018 and 2017 totaled $1.6 million and $0.5 million, respectively, and is included in depreciation and amortization expense in the consolidated statements of income. Such amortization expense is expected to be $3.5 million for the remainder of 2018 and $4.7 million and $1.6 million for the years ended December 31, 2019 and 2020, respectively.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Note 7. Income Taxes The SEC staff issued Staff Accounting Bulletin (“SAB”) 118, which provides guidance on accounting for the tax effects of the Tax Act. SAB 118 provides a measurement period that should not extend beyond one year from the Tax Act enactment date for companies to complete the accounting under ASC 740. In accordance with SAB 118, a company must reflect the income tax effects of those aspects of the Tax Act for which the accounting under ASC 740 is complete. To the extent that a company’s accounting for certain income tax effects of the Tax Act is incomplete but it is able to determine a reasonable estimate, it must record a provisional estimate in the financial statements. If a company cannot determine a provisional estimate to be included in the financial statements, it should continue to apply ASC 740 on the basis of the provisions of the tax laws that were in effect immediately before the enactment of the Tax Act. While we have not yet completed all of the computations necessary or completed an inventory of our 2017 expenditures that qualify for immediate deductions, we have recorded a provisional benefit based on our current intent to fully deduct all qualifying expenditures. This did not result in any significant change to our current income tax payable due to our federal and state net operating loss carry forwards. The Company estimates an annual effective income tax rate based on projected results for the year and applies this rate to income before taxes to calculate income tax expense. Any refinements made due to subsequent information that affects the estimated annual effective income tax rate are reflected as adjustments in the current period. For the three months ended March 31, 2018 and 2017, the Company’s tax expense was $2.1 million and $0.4 million, no The Company and its subsidiaries file US federal income tax returns and various state and local income tax returns. The Company does not have tax sharing agreements with the other members within the consolidated ERI group. With few exceptions, the Company is no longer subject to US federal or state and local tax examinations by tax authorities for years before 2012. The Company was notified by the Internal Revenue Service in October of 2016 that its federal tax return for the year ended December 31, 2014 had been selected for examination. In September 2017, the IRS informed the Company that they completed the examination o f the tax return and made no changes.

Long-Term Debt and Other Long-T

Long-Term Debt and Other Long-Term Liabilities	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Long-Term Debt and Other Long-Term Liabilities	Note 8. Long-Term Debt and Other Long-Term Liabilities Long‑term debt consisted of the following (in thousands): March 31, December 31, 2018 2017 (unaudited) New Term Loan $ 956,750 $ 956,750 Less: Unamortized discount and debt issuance costs (18,149 ) (18,748 ) Net 938,601 938,002 6% Senior Notes 875,000 875,000 Plus: Unamortized debt premium 25,841 26,605 Less: Unamortized debt issuance costs (20,152 ) (20,716 ) Net 880,689 880,889 7% Senior Notes 375,000 375,000 Less: Unamortized discount and debt issuance costs (6,905 ) (7,146 ) Net 368,095 367,854 Capital leases 769 917 Long-term notes payable 2,509 2,531 Less: Current portion (553 ) (615 ) Total long-term debt $ 2,190,110 $ 2,189,578 In connection with the Isle Acquisition, the Company completed a debt financing transaction comprised of: (a) a senior secured credit facility in an aggregate principal amount of $1.75 billion with a (i) term loan facility of $1.45 billion and (ii) revolving credit facility of $300.0 million and (b) $375.0 million of 6% senior unsecured notes. The proceeds of such borrowings were used to pay the cash portion of the consideration payable in the Isle Merger, refinance all of Isle’s existing credit facilities, redeem or otherwise repurchase all of Isle’s and senior and senior subordinated notes, refinance the Company’s existing credit facility and pay transaction fees and expenses related to the foregoing. On September 13, 2017, the Company issued an additional $500.0 million in aggregate principal amount of its 6% Senior Notes (as defined below) at an issue price equal to 105.5% of the principal amount. The 6% Senior Notes were issued as additional notes under the 6% Senior Notes Indenture dated March 29, 2017 (as defined below), as supplemented by the supplemental indenture dated as of May 1, 2017 between the Company, the guarantors party thereto and U.S. Bank National Association, pursuant to which the Company previously issued $375.0 million aggregate principal amount of 6% Senior Notes. The additional 6% Senior Notes formed part of a single class of securities together with the initial 6% Senior Notes for all purposes under the 6% Senior Notes Indenture, including waivers, amendments, redemptions and offers to purchase. The Company used the proceeds of the offering to repay all of the outstanding borrowings under the New Revolving Credit Facility (as defined below) totaling $78.0 million and used the remainder to repay outstanding borrowings totaling $444.5 million under the New Term Loan plus related accrued interest. Amortization of the debt issuance costs and the discount and premium associated with our indebtedness totaled $1.3 million and $0.9 million for the three months ended March 31, 2018 and 2017, respectively. Amortization of debt issuance costs is computed using the effective interest method and is included in interest expense. Scheduled maturities of long‑term debt are $375.0 million in 2023, $956.8 million in 2024, and $875.0 million in 2025. The Company is a holding company with no independent assets or operations. Our 6% Senior Notes and 7% Senior Notes are fully and unconditionally guaranteed, on a joint and several basis, by the subsidiary guarantors. As of March 31, 2018, there were no significant restrictions on the ability of our subsidiaries to distribute cash to us or our guarantor subsidiaries. Other Long-Term Liabilities In conjunction with the Isle Acquisition, the Company acquired the existing lease and management agreements at its Nemacolin location. Under the terms of the agreements, Nemacolin Woodland Resort (“Resort”) provided land, land improvements and a building for the casino property. In accordance with ASC 840, the Company was deemed, for accounting purposes only, to be the owner of these assets provided by the Resort during the construction and casino operating periods due to the Company’s continuing involvement. Therefore, the transaction was accounted for using the direct financing method. As of March 31, 2018 and December 31, 2017, the Company recorded property and equipment, net of accumulated depreciation, of $4.2 million in both periods and a liability of $2.4 million and $4.5 million, respectively, in other long-term liabilities related to the agreement. The decrease in the liability was primarily due to the Company finalizing its purchase price accounting related to the Isle Acquisition as of March 31, 2018. In conjunction with the Isle Acquisition, the Company acquired the existing lease and management agreements at its Bettendorf location. Under the terms of the agreements with the City of Bettendorf, Iowa, the Company leases, manages, and provides financial and operating support for the convention center (Quad-Cities Waterfront Convention Center). In accordance with ASC 840, the Company was deemed, for accounting purposes only, to be the owner of the convention center due to the Company’s continuing involvement. Therefore, the transaction was accounted for using the direct financing method. As of March 31, 2018 and December 31, 2017, the Company recorded property and equipment, net of accumulated depreciation, of $11.8 million and $11.9 million, respectively, and a liability of $5.5 million and $12.5 million, respectively, in other long-term liabilities related to the agreement. The decrease in the liability was primarily due to the Company finalizing its purchase price accounting related to the Isle Acquisition as of March 31, 2018. Senior Notes 7.0% Senior Notes On July 23, 2015, the Company issued at par $375.0 million in aggregate principal amount of 7.0% senior notes due 2023 (“7% Senior Notes”) pursuant to the Indenture, dated as of July 23, 2015 (the “Indenture”), between the Company and U.S. Bank, National Association, as Trustee. The 7% Senior Notes will mature on August 1, 2023, with interest payable semi-annually in arrears on February 1 and August 1 of each year. On or after August 1, 2018, the Company may redeem all or a portion of the 7% Senior Notes upon not less than 30 nor more than 60 days’ notice, at the redemption prices (expressed as percentages of the principal amount) set forth below plus accrued and unpaid interest and additional interest, if any, on the 7% Senior Notes redeemed, to the applicable redemption date, if redeemed during the twelve month period beginning on August 1 of the years indicated below: Year Percentage 2018 105.250 % 2019 103.500 % 2020 101.750 % 2021 and thereafter 100.000 % Prior to August 1, 2018, the Company may redeem all or a portion of the 7% Senior Notes at a price equal to 100% of the 7% Senior Notes redeemed plus accrued and unpaid interest to the redemption date, plus a “make-whole” premium. At any time prior to August 1, 2018, the Company is also entitled to redeem up to 35% of the original aggregate principal amount of the 7% Senior Notes with proceeds of certain equity financings at a redemption price equal to 107% of the principal amount of the 7% Senior Notes redeemed, plus accrued and unpaid interest. If the Company experiences certain change of control events (as defined in the 7% Senior Notes Indenture), it must offer to repurchase the 7% Senior Notes at 101% of their principal amount, plus accrued and unpaid interest to the applicable repurchase date. If the Company sells assets under certain circumstances and does not use the proceeds for specified purposes, the Company must offer to repurchase the 7% Senior Notes at 100% of their principal amount, plus accrued and unpaid interest to the applicable repurchase dates. The 7% Senior Notes are subject to redemption imposed by gaming laws and regulations of applicable gaming regulatory authorities. The 7% Senior Notes Indenture contains certain covenants limiting, among other things, the Company’s ability and the ability of its subsidiaries (other than its unrestricted subsidiaries) to: • pay dividends or distributions or make certain other restricted payments or investments; • incur or guarantee additional indebtedness or issue disqualified stock or create subordinated indebtedness that is not subordinated to the 7% Senior Notes or the guarantees of the 7% Senior Notes; • create liens; • transfer and sell assets; • merge, consolidate, or sell, transfer or otherwise dispose of all or substantially all of the Company’s assets; • enter into certain transactions with affiliates; • engage in lines of business other than the Company’s core business and related businesses; and • create restrictions on dividends or other payments by restricted subsidiaries. These covenants are subject to a number of exceptions and qualifications as set forth in the 7% Senior Notes Indenture. The 7% Senior Notes Indenture also provides for customary events of default which, if any of them occurs, would permit or require the principal of and accrued interest on such 7% Senior Notes to be declared due and payable. As of March 31, 2018, the Company was in compliance with all of the covenants under the 7% Senior Notes Indenture relating to the 7% Senior Notes. 6.0% Senior Notes On March 29, 2017, Eagle II Acquisition Company LLC (“Eagle II”), a wholly-owned subsidiary of the Company, issued $375.0 million aggregate principal amount of 6% Senior Notes due 2025 (the “6% Senior Notes”) pursuant to an indenture, dated as of March 29, 2017 (the “6% Senior Notes Indenture”), between Eagle II and U.S. Bank, National Association, as Trustee. The 6% Senior Notes will mature on April 1, 2025, with interest payable semi-annually in arrears on April 1 and October 1, commencing October 1, 2017. The proceeds of the offering, and additional funds in the amount of $1.9 million in respect of interest expected to be accrued on the 6% Senior Notes, were placed in escrow pending satisfaction of certain conditions, including consummation of the Isle Acquisition. In connection with the consummation of the Isle Acquisition on May 1, 2017, the escrowed funds were released and the Company assumed Eagle II’s obligations under the 6% Senior Notes and the 6% Senior Notes Indenture and certain of the Company’s subsidiaries (including Isle and certain of its subsidiaries) executed guarantees of the Company’s obligations under the 6% Senior Notes. On September 13, 2017, the Company issued an additional $500.0 million principal amount of its 6% Senior Notes at an issue price equal to 105.5% of the principal amount of the 6% Senior Notes. The additional notes were issued pursuant to the 6% Senior Notes Indenture that governs the 6% Senior Notes. The Company used the proceeds of the offering to repay $78.0 million of outstanding borrowings under the revolving credit facility and used the remainder to repay $444.5 million outstanding borrowings under the term loan facility and related accrued interest. On or after April 1, 2020, the Company may redeem all or a portion of the 6% Senior Notes upon not less than 30 nor more than 60 days’ notice, at the redemption prices (expressed as percentages of the principal amount) set forth below plus accrued and unpaid interest and additional interest, if any, on the 6% Senior Notes redeemed, to the applicable redemption date, if redeemed during the 12-month period beginning on April 1 of the years indicated below: Year Percentage 2020 104.500 % 2021 103.000 % 2022 101.500 % 2023 and thereafter 100.000 % Prior to April 1, 2020, the Company may redeem all or a portion of the 6% Senior Notes at a price equal to 100% of the 6% Senior Notes redeemed plus accrued and unpaid interest to the redemption date, plus a make-whole premium. At any time prior to April 1, 2020, the Company is also entitled to redeem up to 35% of the original aggregate principal amount of the 6% Senior Notes with proceeds of certain equity financings at a redemption price equal to 106% of the principal amount of the 6% Senior Notes redeemed, plus accrued and unpaid interest. If the Company experiences certain change of control events (as defined in the 6% Senior Notes Indenture), it must offer to repurchase the 6% Senior Notes at 101% of their principal amount, plus accrued and unpaid interest to the applicable repurchase date. If the Company sells assets under certain circumstances and does not use the proceeds for specified purposes, the Company must offer to repurchase the 6% Senior Notes at 100% of their principal amount, plus accrued and unpaid interest to the applicable repurchase date. The 6% Senior Notes are subject to redemption imposed by gaming laws and regulations of applicable gaming regulatory authorities. The 6% Senior Notes Indenture contains certain covenants limiting, among other things, the Company’s ability and the ability of its subsidiaries (other than its unrestricted subsidiaries) to: • pay dividends or distributions or make certain other restricted payments or investments; • incur or guarantee additional indebtedness or issue disqualified stock or create subordinated indebtedness that is not subordinated to the 6% Senior Notes or the guarantees of the 6% Senior Notes; • create liens; • transfer and sell assets; • merge, consolidate, or sell, transfer or otherwise dispose of all or substantially all of the Company’s assets; • enter into certain transactions with affiliates; • engage in lines of business other than the Company’s core business and related businesses; and • create restrictions on dividends or other payments by restricted subsidiaries. These covenants are subject to a number of exceptions and qualifications as set forth in the 6% Senior Notes Indenture. The 6% Senior Notes Indenture also provides for customary events of default which, if any of them occurs, would permit or require the principal of and accrued interest on such 6% Senior Notes to be declared due and payable. As of March 31, 2018, the Company was in compliance with all of the covenants under the 6% Senior Notes Indenture relating to the 6% Senior Notes. Refinancing of the Term Loan and Revolving Credit Facility Credit Facility On July 23, 2015, the Company entered into a $425.0 million seven year term loan (the “Term Loan”) and a $150.0 million five year revolving credit facility (the “Prior Revolving Credit Facility” and, together with the Term Loan, the “Prior Credit Facility”). The Term Loan bore interest at a rate per annum of, at the Company’s option, either LIBOR plus 3.25%, with a LIBOR floor of 1.0%, or a base rate plus 2.25%. Borrowings under the Prior Revolving Credit Facility bore interest at a rate per annum of, at the Company’s option, either LIBOR plus a spread ranging from 2.5% to 3.25% or a base rate plus a spread ranging from 1.5% to 2.25%, in each case with the spread determined based on the Company’s total leverage ratio. Additionally, the Company paid a commitment fee on the unused portion of the Prior Revolving Credit Facility not being utilized in the amount of 0.50% per annum. On May 1, 2017, all of the outstanding amounts under the Prior Credit Facility were repaid with proceeds of borrowings under the New Credit Facility and the Prior Credit Facility was terminated. New Credit Facility On April 17, 2017, Eagle II entered into a new credit agreement by and among Eagle II, as initial borrower, JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto dated as of April 17, 2017 (the “New Credit Facility”), consisting of a $1.45 billion term loan facility (the “New Term Loan Facility” or “New Term Loan”) and a $300.0 million revolving credit facility (the “New Revolving Credit Facility”), which was undrawn at closing. As of March 31, 2018, the Company had $956.8 million outstanding on the New Term Loan. There were no borrowings outstanding under the New Revolving Credit Facility as of March 31, 2018. The Company had $291.5 million of available borrowing capacity, after consideration of $8.5 million in outstanding letters of credit, under its New Revolving Credit Facility as of March 31, 2018. We have obtained commitments to increase our revolving credit facility from $300 million to $500 million effective at the time of the consummation of the Tropicana Acquisition. At March 31, 2018, the weighted average interest rate on the New Term Loan was 3.9% based upon the weighted average interest rate of borrowings outstanding during the three months ended March 31, 2018. The Company applied the net proceeds of the New Term Loan Facility and borrowings under the New Revolving Credit Facility, together with the proceeds of the 6% Senior Notes and cash on hand, to (i) pay the cash portion of the consideration payable in the Isle Merger, (ii) refinance all of the debt outstanding under Isle’s existing credit facility, (iii) redeem or otherwise repurchase all of Isle’s outstanding senior and senior subordinated notes, (iv) refinance the Company’s Prior Credit Facility and (v) pay fees and costs associated with the foregoing. We have obtained commitments to increase our revolving credit facility from $300 million to $500 million effective at the time of the consummation of the Tropicana Acquisition. The Company ’ The interest rate per annum applicable to loans under the New Revolving Credit Facility are, at our option, either (i) LIBOR plus a margin ranging from 1.75% to 2.50% or (ii) a base rate plus a margin ranging from 0.75% to 1.50%, which margin is based on our total leverage ratio. The interest rate per annum applicable to the loans under the New Term Loan Facility is, at our option, either (i) LIBOR plus 2.25%, or (ii) a base rate plus 1.25%; provided, however, that in no event will LIBOR be less than zero or the base rate be less than 1.00% over the term of the New Term Loan Facility or the New Revolving Credit Facility. Additionally, the Company pays a commitment fee on the unused portion of the New Revolving Credit Facility in the amount of 0.50% per annum. The New Credit Facility is secured by substantially all of the Company’s personal property assets and substantially all personal property assets of each subsidiary that guaranties the New Credit Facility (other than certain subsidiary guarantors designated as immaterial) (the “New Credit Facility Guarantors”), whether owned on the closing date of the New Credit Facility or thereafter acquired, and mortgages on certain real property and improvements owned or leased by us or the New Credit Facility Guarantors. The New Credit Facility is also secured by a pledge of all of the equity owned by the Company and the New Credit Facility Guarantors (subject to certain gaming law restrictions). The credit agreement governing the New Credit Facility contains a number of customary covenants that, among other things, restrict, subject to certain exceptions, the Company’s ability and the ability of the New Credit Facility Guarantors to incur additional indebtedness, create liens, engage in mergers, consolidations or asset dispositions, make distributions, make investments, loans or advances, engage in certain transactions with affiliates or subsidiaries or modify their lines of business. The New Credit Facility also includes certain financial covenants, including the requirements that we maintain throughout the term of the New Credit Facility and measured as of the end of each fiscal quarter, and solely with respect to loans under the New Revolving Credit Facility, a maximum consolidated total leverage ratio of not more than 6.50 to 1.00 for the period beginning on the closing date and ending with the fiscal quarter ending December 31, 2018, 6.00 to 1.00 for the period beginning with the fiscal quarter beginning January 1, 2019 and ending with the fiscal quarter ending December 31, 2019, and 5.50 to 1.00 for the period beginning with the fiscal quarter beginning January 1, 2020 and thereafter. The Company will also be required to maintain an interest coverage ratio in an amount not less than 2.00 to 1.00 measured on the last day of each fiscal quarter beginning on the closing date, and ending with the fiscal quarter ending December 31, 2018, 2.50 to 1.00 for the period beginning with the fiscal quarter beginning January 1, 2019 and ending with the fiscal quarter ending December 31, 2019, and 2.75 to 1.00 for the period beginning with the fiscal quarter beginning January 1, 2020 and thereafter. The New Credit Facility contains a number of customary events of default, including, among others, for the non-payment of principal, interest or other amounts, the inaccuracy of certain representations and warranties, the failure to perform or observe certain covenants, a cross default to our other indebtedness, including the Notes, certain events of bankruptcy or insolvency, certain ERISA events, the invalidity of certain loan documents, certain changes of control and the loss of certain classes of licenses to conduct gaming. If any event of default occurs, the lenders under the New Credit Facility would be entitled to take various actions, including accelerating amounts outstanding thereunder and taking all actions permitted to be taken by a secured creditor .

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 9. 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. Items Measured at Fair Value on a Recurring Basis : The following table sets forth the assets measured at fair value on a recurring basis, by input level, in the consolidated balance sheets at March 31, 2018 and December 31, 2017 (amounts in thousands): March 31, 2018 Assets: Level 1 Level 2 Total Restricted cash and investments $ 9,449 $ 4,072 $ 13,521 Marketable securities 8,284 8,952 17,236 December 31, 2017 Assets: Level 1 Level 2 Total Restricted cash and investments $ 9,055 $ 4,098 $ 13,153 Marketable securities 7,906 9,725 17,631 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 investments in money market funds. Investments in this category 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 includes cash maintained for gaming operations. The carrying amounts approximate the fair value because of the short maturity of those instruments (Level 1). Restricted Cash : Restricted cash includes cash reserved for unredeemed winning tickets from the Company’s racing operations, funds related to horsemen’s fines and certain simulcasting funds that are restricted to payments for improving horsemen’s facilities and racing purses, cash deposits that serve as collateral for letters of credit, surety bonds and short-term certificates of deposit that serve as collateral for certain bonding requirements. The estimated fair values of our restricted cash and investments are based upon quoted prices available in active markets (Level 1), or quoted prices for similar assets in active and inactive markets (Level 2), and represent the amounts we would expect to receive if we sold our restricted cash and investments. Restricted investments, included in Other Assets, net, relate to trading securities pledged as collateral by our captive insurance company. Accounts Receivable and Credit Risk : The allowance is estimated based on specific review of customer accounts as well as historical collection experience and current economic and business conditions. Management believes that no significant concentrations of credit risk related to receivables exists. Marketable Securities: Marketable securities consist primarily of trading securities held the Company’s captive insurance subsidiary. The estimated fair values of the Company’s marketable securities are determined on an individual asset basis based upon quoted prices of identical assets available in active markets (Level 1), quoted prices of identical assets in inactive markets, or quoted prices for similar assets in active and inactive markets (Level 2), and represent the amounts we would expect to receive if we sold these marketable securities. Long‑term Debt: The fair value of our long-term debt or other long-term obligations is estimated based on the quoted market price of the underlying debt issue (Level 1) or, when a quoted market price is not available, the discounted cash flow of future payments utilizing current rates available to us for the debt of similar remaining maturities (Level 2). Debt obligations with a short remaining maturity have a carrying amount that approximates fair value. There were no transfers between Level 1 and Level 2 investments. The estimated fair values of the Company’s financial instruments are as follows (amounts in thousands): March 31, 2018 December 31, 2017 Carrying Fair Carrying Fair Amount Value Amount Value Financial liabilities: 7% Senior Notes $ 368,095 $ 394,687 $ 367,854 $ 400,800 6% Senior Notes 880,689 881,563 880,889 914,375 New Term Loan 938,601 959,142 938,002 956,750 Other long-term debt 2,509 2,509 2,531 2,531 Capital leases 769 769 917 917

Earnings per Share

Earnings per Share	3 Months Ended
	Mar. 31, 2018
Earnings Per Share Basic And Diluted [Abstract]
Earnings per Share	Note 10. Earnings per Share The following table illustrates the reconciliation of the numerators and denominators of the basic and diluted net income per share computations for the three months ended March 31, 2018 and 2017 (dollars in thousands, except per share amounts): Three Months Ended March 31, 2018 2017 (unaudited) Net income available to common stockholders $ 20,855 $ 945 Shares outstanding: Weighted average shares outstanding – basic 77,353,730 47,120,751 Effect of dilutive securities: Stock options 152,906 50,799 RSUs 573,413 909,731 Weighted average shares outstanding – diluted 78,080,049 48,081,281 Net income per common share attributable to common stockholders – basic: $ 0.27 $ 0.02 Net income per common share attributable to common stockholders – diluted: $ 0.27 $ 0.02

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2018
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 11. Commitments and Contingencies Litigation. The Company is a party to various lawsuits, which have arisen in the normal course of business. Estimated losses are accrued for these lawsuits and claims when the loss is probable and can be estimated. The current liability for the estimated losses associated with those lawsuits is not material to the consolidated financial condition and those estimated losses are not expected to have a material impact on the results of operations. Agreements with Horsemen and Pari-mutuel Clerks . The Federal Interstate Horse Racing Act and the state racing laws in West Virginia, Ohio and Pennsylvania require that, in order to simulcast races, we have written agreements with the horse owners and trainers at those racetracks. In addition, in order to operate slot machines in West Virginia, we are required to enter into written agreements regarding the proceeds of the slot machines (a “proceeds agreement”) with a representative of a majority of the horse owners and trainers and with a representative of a majority of the pari‑mutuel clerks. In Pennsylvania and Ohio, we must have an agreement with the representative of the horse owners. We have the requisite agreements in place with the horsemen at Mountaineer until December 31, 2018. With respect to the Mountaineer pari‑mutuel clerks, we have a labor agreement in force until November 30, 2018, which will automatically renew for an additional one-year period, and a proceeds agreement until April 14, 2019. We are required to have a proceeds agreement in effect on July 1 of each year with the horsemen and the pari‑mutuel clerks as a condition to renewal of our video lottery license for such year. If the requisite proceeds agreement is not in place as of July 1 of a particular year, Mountaineer’s application for renewal of its video lottery license could be denied, in which case Mountaineer would not be permitted to operate either its slot machines or table games. Scioto Downs has the requisite agreement in place with the OHHA until December 31, 2023, with automatic two-year renewals unless either party requests re‑negotiation pursuant to its terms. Presque Isle Downs has the requisite agreement in place with the Pennsylvania Horsemen’s Benevolent and Protective Association until May 1, 2021. With the exception of the respective Mountaineer, Presque Isle Downs and Scioto Downs horsemen’s agreements and the agreement between Mountaineer and the pari‑mutuel clerks’ union described above, each of the agreements referred to in this paragraph may be terminated upon written notice by either party.

Related Affiliates

Related Affiliates	3 Months Ended
	Mar. 31, 2018
Related Party Transactions [Abstract]
Related Affiliates	Note 12. Related Affiliates The Company has a lease agreement with C.S. &Y. Associates (“CS&Y”) which is an entity partially owned by Recreational Enterprises, Inc. (“REI”), which is owned by members of the Carano family, including Gary L. Carano, and various trusts of which members of the Carano family are beneficiaries. In addition, each of Gary L. Carano and Thomas R. Reeg serve as members of the board of directors of REI. The Company owns the entire parcel on which Eldorado Reno is located, except for approximately 30,000 square feet which is leased from CS&Y. For the period ended March 31, 2018, the amount paid to CS&Y was $150,000. No amounts were due to or due from CS&Y as of March 31, 2018 and December 31, 2017. The Company holds a 42.1% variable interest in a partnership with other investors that developed a new 118-room Hampton Inn & Suites hotel at Scioto Downs that opened in March 2017. Pursuant to the terms of the partnership agreement, the Company contributed $1.0 million of cash and 2.4 acres of a leasehold immediately adjacent to The Brew Brothers

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Segment Information	Note 13. Segment Information The following table sets forth, for the period indicated, certain operating data for our reportable segments. The executive decision maker of our Company reviews operating results, assesses performance and makes decisions on a “significant market” basis. Management views each of our casinos as an operating segment. Operating segments are aggregated based on their similar economic characteristics, types of customers, types of services and products provided, and their management and reporting structure. Prior to the Isle Acquisition, the Company’s principal operating activities occurred in three geographic regions: Nevada, Louisiana and parts of the eastern United States. Following the Isle Acquisition, the Company’s principal operating activities expanded and now occur in four geographic regions and reportable segments based on the similar characteristics of the operating segments within the regions in which they operate. The previously reported segments, Nevada, Louisiana, and Eastern, are now included in the West, South, and East segments, respectively, which are summarized as follows, along with the Midwest segment. Segment Property State West Eldorado Reno Nevada Silver Legacy Nevada Circus Reno Nevada Isle Black Hawk Colorado Lady Luck Black Hawk Colorado Midwest Waterloo Iowa Bettendorf Iowa Boonville Missouri Cape Girardeau Missouri Caruthersville Missouri Kansas City Missouri South Pompano Florida Eldorado Shreveport Louisiana Lake Charles Louisiana Lula Mississippi Vicksburg Mississippi East Presque Isle Downs Pennsylvania Nemacolin Pennsylvania Scioto Downs Ohio Mountaineer West Virginia The following table sets forth, for the periods indicated, certain operating data for our four reportable segments. Amounts related to pre-acquisition periods (prior to May 1, 2017) conform to prior presentation as the additional operating segments associated with the Isle Acquisition are incremental to the previously disclosed reportable segments. Three Months Ended Ended March 31, 2018 2017 (in thousands, unaudited) Revenues and expenses West: Net operating revenues $ 99,579 $ 63,488 Operating income—West 10,139 1,355 Midwest: Net operating revenues $ 100,795 $ — Operating income—Midwest 26,676 — South: Net operating revenues $ 122,800 $ 32,560 Operating income—South 13,359 5,918 East: Net operating revenues $ 116,891 $ 106,287 Operating income—East 19,131 15,034 Corporate: Net operating revenues $ 127 $ 58 Operating loss—Corporate (15,111 ) (8,279 ) Total Reportable Segments Net operating revenues $ 440,192 $ 202,393 Operating income – Total Reportable Segments 54,194 14,028 Reconciliations to Consolidated Net Income: Operating Income — Total Reportable Segments $ 54,194 $ 14,028 Unallocated income and expenses: Interest expense, net (31,251 ) (12,670 ) Provision for income taxes (2,088 ) (413 ) Net income $ 20,855 $ 945 Three Months Ended March 31, 2018 2017 (in thousands, unaudited) Capital Expenditures West $ 10,181 $ 4,154 Midwest 2,741 — South 2,883 547 East 2,874 1,430 Corporate 2,592 75 Total $ 21,271 $ 6,206 West Midwest South East Corporate, Other & Eliminations Total Balance sheet as of March 31, 2018 (unaudited) (in thousands) Total assets $ 1,285,898 $ 1,199,909 $ 804,736 $ 1,189,210 $ (927,533 ) $ 3,552,220 Goodwill 152,762 322,745 180,044 63,704 — 719,255 Balance sheet as of December 31, 2017 Total assets $ 1,278,062 $ 1,188,758 $ 804,318 $ 1,185,806 $ (910,472 ) $ 3,546,472 Goodwill 152,775 327,088 200,417 66,826 — 747,106

Consolidating Condensed Financi

Consolidating Condensed Financial Information	3 Months Ended
	Mar. 31, 2018
Condensed Consolidating Financial Information [Abstract]
Consolidating Condensed Financial Information	Note 14. Consolidating Condensed Financial Information Certain of our wholly-owned subsidiaries have fully and unconditionally guaranteed on a joint and several basis, the payment of all obligations under our 7% Senior Notes, 6% Senior Notes and New Credit Facility. The following wholly-owned subsidiaries of the Company are guarantors, on a joint and several basis, under the 7% Senior Notes, 6% Senior Notes and New Credit Facility: Isle of Capri Casinos LLC; Eldorado Holdco LLC; Eldorado Resorts LLC; Eldorado Shreveport 1 LLC; Eldorado Shreveport 2 LLC; Eldorado Casino Shreveport Joint Venture; MTR Gaming Group Inc.; Mountaineer Park Inc.; Presque Isle Downs Inc.; Scioto Downs Inc.; Eldorado Limited Liability Company; Circus and Eldorado Joint Venture, LLC; CC Reno LLC; CCR Newco LLC; Black Hawk Holdings, L.L.C.; IC Holdings Colorado, Inc.; CCSC/Blackhawk, Inc.; IOC-Black Hawk Distribution Company, LLC; IOC-Black Hawk County, Inc.; Isle of Capri Bettendorf, L.C.; PPI, Inc.; Pompano Park Holdings LLC; IOC-Lula, Inc.; IOC-Kansas City, Inc.; IOC-Boonville, Inc.; IOC-Caruthersville, LLC; IOC Cape Girardeau, LLC; IOC-Vicksburg, Inc.; IOC-Vicksburg, L.L.C.; Rainbow Casino-Vicksburg Partnership, L.P.; IOC Holdings L.L.C. and St. Charles Gaming Company, L.L.C. Each of the subsidiaries’ guarantees is joint and several with the guarantees of the other subsidiaries. The consolidating condensed balance sheet as of March 31, 2018 is as follows: Balance Sheet Eldorado Resorts, Inc. (Parent Obligor) Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating and Eliminating Entries Eldorado Resorts, Inc. Consolidated (in thousands, unaudited) Current assets $ 68,033 $ 380,583 $ 26,693 $ — $ 475,309 Intercompany receivables 211,587 — 29,049 (240,636 ) — Investments in subsidiaries 2,480,728 — — (2,480,728 ) — Property and equipment, net 12,444 1,375,675 8,167 — 1,396,286 Other assets 47,511 1,656,163 22,925 (45,974 ) 1,680,625 Total assets $ 2,820,303 $ 3,412,421 $ 86,834 $ (2,767,338 ) $ 3,552,220 Current liabilities $ 43,159 $ 151,378 $ 22,753 $ — $ 217,290 Intercompany payables — 215,636 25,000 (240,636 ) — Long-term debt, less current maturities 1,814,801 375,000 309 — 2,190,110 Deferred income tax liabilities — 213,569 — (45,974 ) 167,595 Other accrued liabilities 3,791 12,019 2,784 — 18,594 Stockholders’ equity 958,552 2,444,819 35,988 (2,480,728 ) 958,631 Total liabilities and stockholders’ equity $ 2,820,303 $ 3,412,421 $ 86,834 $ (2,767,338 ) $ 3,552,220 The consolidating condensed balance sheet as of December 31, 2017 is as follows: Balance Sheet Eldorado Resorts, Inc. (Parent Obligor) Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating and Eliminating Entries Eldorado Resorts, Inc. Consolidated (in thousands) Current assets $ 27,572 $ 201,321 $ 22,139 $ — $ 251,032 Intercompany receivables 274,148 — 34,492 (308,640 ) — Investments in subsidiaries 2,437,287 — — (2,437,287 ) — Property and equipment, net 12,042 1,483,473 7,302 — 1,502,817 Other assets 37,458 1,764,291 27,283 (36,409 ) 1,792,623 Total assets $ 2,788,507 $ 3,449,085 $ 91,216 $ (2,782,336 ) $ 3,546,472 Current liabilities $ 28,676 $ 169,348 $ 25,726 $ — $ 223,750 Intercompany payables — 283,640 25,000 (308,640 ) — Long-term debt, less current maturities 1,814,185 375,000 393 — 2,189,578 Deferred income tax liabilities — 199,376 — (36,409 ) 162,967 Other accrued liabilities 4,127 19,624 4,828 — 28,579 Stockholders’ equity 941,519 2,402,097 35,269 (2,437,287 ) 941,598 Total liabilities and stockholders’ equity $ 2,788,507 $ 3,449,085 $ 91,216 $ (2,782,336 ) $ 3,546,472 The consolidating condensed statement of operations for the three months ended March 31, 2018 is as follows: Eldorado Resorts, Inc. (Parent Obligor) Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating and Eliminating Entries Eldorado Resorts, Inc. Consolidated (in thousands, unaudited) Revenues: Gaming and pari-mutuel commissions $ — $ 335,793 $ 7,735 $ — $ 343,528 Non-gaming — 94,023 2,641 — 96,664 Net revenues — 429,816 10,376 — 440,192 Operating expenses: Gaming and pari-mutuel commissions — 164,303 5,248 — 169,551 Non-gaming — 63,975 712 — 64,687 Marketing and promotions — 20,835 466 — 21,301 General and administrative — 72,427 1,775 — 74,202 Corporate 10,294 322 953 — 11,569 Impairment charges — 9,815 — — 9,815 Management fee (5,137 ) 5,137 — — — Depreciation and amortization 772 30,601 161 — 31,534 Total operating expenses 5,929 367,415 9,315 — 382,659 Loss on sale of asset or disposal of property and equipment — (706 ) — — (706 ) Transaction expenses (2,118 ) (430 ) — — (2,548 ) Equity in loss of unconsolidated affiliate — (85 ) — — (85 ) Operating (loss) income (8,047 ) 61,180 1,061 — 54,194 Interest expense, net (24,432 ) (6,286 ) (533 ) — (31,251 ) Subsidiary income (loss) 43,305 — — (43,305 ) — Income (loss) before income taxes 10,826 54,894 528 (43,305 ) 22,943 Income tax benefit (provision) 10,029 (12,303 ) 186 — (2,088 ) Net income (loss) $ 20,855 $ 42,591 $ 714 $ (43,305 ) $ 20,855 The consolidating condensed statement of operations for the three months ended March 31, 2017 is as follows: Eldorado Resorts, Inc. (Parent Obligor) Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating and Eliminating Entries Eldorado Resorts, Inc. Consolidated (in thousands, unaudited) Revenues: Gaming and pari-mutuel commissions $ — $ 142,185 $ 5 $ — $ 142,190 Non-gaming — 60,145 58 — 60,203 Net revenues — 202,330 63 — 202,393 Operating expenses: Gaming and pari-mutuel commissions — 81,188 — — 81,188 Non-gaming — 41,266 — — 41,266 Marketing and promotions — 10,125 4 — 10,129 General and administrative — 31,800 — — 31,800 Corporate 6,574 — — — 6,574 Management fee (6,574 ) 6,574 — — — Depreciation and amortization 149 15,455 — — 15,604 Total operating expenses 149 186,408 4 — 186,561 Loss on sale of asset or disposal of property and equipment — 32 — — 32 Transaction expenses (1,614 ) — — — (1,614 ) Equity in loss of unconsolidated affiliate — (222 ) — — (222 ) Operating (loss) income (1,763 ) 15,732 59 — 14,028 Interest expense, net (6,089 ) (6,581 ) — — (12,670 ) Subsidiary income (loss) 9,255 — — (9,255 ) — Income (loss) before income taxes 1,403 9,151 59 (9,255 ) 1,358 Income tax (provision) benefit (458 ) 45 — — (413 ) Net income (loss) $ 945 $ 9,196 $ 59 $ (9,255 ) $ 945 The consolidating condensed statement of cash flows for the three months ended March 31, 2018 is as follows: Eldorado Resorts, Inc. (Parent Obligor) Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating and Entries Eldorado Resorts, Inc. Consolidated (in thousands, unaudited) Net cash (used in) provided by operating activities $ (7,128 ) $ 87,253 $ (2,118 ) $ — $ 78,007 INVESTING ACTIVITIES: Purchase of property and equipment, net (1,233 ) (19,011 ) (1,027 ) — (21,271 ) Proceeds from sale of property and equipment — 150 — — 150 Net cash provided by (used in) investing activities (1,233 ) (18,861 ) (1,027 ) — (21,121 ) FINANCING ACTIVITIES: Net proceeds from (payments to) related parties 62,560 (66,660 ) 4,100 — — Payment of other long-term obligation (22 ) — — — (22 ) Payments on capital leases — (78 ) (70 ) — (148 ) Debt issuance costs (304 ) — — — (304 ) Taxes paid related to net share settlement of equity awards (7,502 ) — — — (7,502 ) Net cash provided by (used in) financing activities 54,732 (66,738 ) 4,030 — (7,976 ) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 46,371 1,654 885 — 48,910 CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR 13,836 118,483 15,430 — 147,749 CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD $ 60,207 $ 120,137 $ 16,315 $ — $ 196,659 RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO AMOUNTS REPORTED WITHIN THE CONDENSED CONSOLIDATED BALANCE SHEETS: Cash and cash equivalents $ 59,490 $ 116,394 $ 7,254 $ — $ 183,138 Restricted cash 717 2,743 199 — 3,659 Restricted cash included in other noncurrent assets — 1,000 8,862 — 9,862 TOTAL CASH, CASH EQUIVALENTS AND RESTRICTED CASH $ 60,207 $ 120,137 $ 16,315 $ — $ 196,659 The consolidating condensed statement of cash flows for the three months ended March 31, 2017 is as follows: Eldorado Resorts, Inc. (Parent Obligor) Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating and Eliminating Entries Eldorado Resorts, Inc. Consolidated (in thousands, unaudited) Net cash (used in) provided by operating activities $ (2,768 ) $ 7,862 $ 89 $ — $ 5,183 INVESTING ACTIVITIES: Purchase of property and equipment, net (151 ) (6,055 ) — — (6,206 ) Proceeds from sale of property and equipment — 32 — — 32 (Decrease) increase in other assets, net (565 ) 417 — — (148 ) Cash escrow related to acquisition (376,750 ) — — — (376,750 ) Net cash used in investing activities (377,466 ) (5,606 ) — — (383,072 ) FINANCING ACTIVITIES: Proceeds from issuance of 6% Senior Notes 375,000 — — — 375,000 Payments under Term Loan (1,063 ) — — — (1,063 ) Borrowings under Prior Revolving Credit Facility 23,000 — — — 23,000 Payments under Prior Revolving Credit Facility (29,000 ) — — — (29,000 ) Principal payments on capital leases — (94 ) — — (94 ) Debt issuance costs (7,016 ) — — — (7,016 ) Net proceeds from (payments to) related parties 18,746 (18,634 ) (112 ) — — Taxes paid related to net share settlement of equity awards (179 ) — — — (179 ) Proceeds from exercise of stock options 434 — — — 434 Net cash provided by (used in) financing activities 379,922 (18,728 ) (112 ) — 361,082 INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (312 ) (16,472 ) (23 ) — (16,807 ) CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR 1,409 61,702 332 — 63,443 CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD $ 1,097 $ 45,230 $ 309 $ — $ 46,636 RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO AMOUNTS REPORTED WITHIN THE CONDENSED CONSOLIDATED BALANCE SHEETS: Cash and cash equivalents $ 419 $ 43,846 $ 309 $ — $ 44,574 Restricted cash 678 1,384 — — 2,062 TOTAL CASH, CASH EQUIVALENTS AND RESTRICTED CASH $ 1,097 $ 45,230 $ 309 $ — $ 46,636

Pending Acquisitions

Pending Acquisitions	3 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
Pending Acquisitions	Note 15. Pending Acquisitions On April 16, 2018, the Company announced that it entered into a definitive agreement to acquire the Grand Victoria Casino in Elgin, Illinois for $327.5 million in cash, subject to a customary working capital adjustment (the “Grand Victoria Acquisition”). The Company intends to fund the consideration payable in the Grand Victoria Acquisition using cash from currently pending asset sales, cash from ongoing operations and borrowings under its revolving credit facility. Also on April 16, 2018, the Company announced that it entered into a definitive agreement to acquire Tropicana Entertainment Inc. (“Tropicana”) in a cash transaction that is valued at $1.85 billion. The definitive agreement provides that Gaming and Leisure Properties (“GLPI”) will pay $1.21 billion, excluding taxes and expenses, for substantially all of Tropicana’s real estate, will enter into a master lease with the Company for the acquired real estate, and the Company will fund the remaining $640 million of cash consideration payable in the acquisition (the “Tropicana Acquisition” and, together with the Elgin Acquisition, the “Acquisitions”). Pursuant to the transaction, GLPI is expected to acquire the real estate associated with the Tropicana property portfolio, except the MontBleu Casino Resort & Spa in South Lake Tahoe and the Tropicana Aruba Resort and Casino. Following the acquisition of the real estate portfolio by GLPI, the Company will enter into a triple net master lease for the acquired properties with an initial term of 15 years, with renewals of up to 20 years at the Company’s option. The initial annual rent under the terms of the lease is expected to be approximately $110 million. Tropicana intends to dispose of Tropicana Aruba Resort and Casino prior to closing. The Company intends to fund the consideration of approximately $640 million payable by the Company in the Tropicana Acquisition and repay debt outstanding under Tropicana’s credit facility with cash generated from our current operations, proceeds from pending asset sales, Tropicana’s cash on hand, cash flow generated from Tropicana operations through closing and $600 million of committed debt financing. In addition, the Company has obtained commitments to increase its revolving credit facility from $300 million to $500 million effective at the time of the consummation of the Tropicana Acquisition and expects to extend the maturity of the revolving credit facility to five years following the consummation of the Tropicana Acquisition. The Acquisitions are expected to close in the fourth quarter of 2018, subject to satisfaction of customary closing conditions including receipt of required regulatory approvals and termination of the waiting period under the Hart-Scott-Rodino Act. Transaction expenses attributed to the Grand Victoria Acquisition and the Tropicana Acquisition totaled $0.6 million and $1.0 million, respectively, for the three months ended March 31, 2018. As of March 31, 2018, $0.4 million and $0.8 million of accrued costs and expenses related to the Grand Victoria Acquisition and Tropicana Acquisition, respectively, are included in accrued other liabilities.

Summary of Significant Accounti

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Reclassifications	Reclassifications Certain reclassifications of prior year presentations have been made to conform to the current period presentation.
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements of the Company and its subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information with the instructions for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by US GAAP for complete financial statements. In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments, all of which are normal and recurring, considered necessary for a fair presentation and have been included herein. The results of operations for these interim periods are not necessarily indicative of the operating results for other quarters, for the full year or any future period. The financial information included for periods prior to our acquisition of Isle are those of ERI and its subsidiaries. The presentation of information herein for periods prior to our acquisition of Isle and after our acquisition of Isle are not fully comparable because the results of operations for Isle are not included for periods prior to our acquisition of Isle. 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, 2017.
Recently Issued Accounting Pronouncements – New Developments and Adoptions of New Accounting Standards	Recently Issued Accounting Pronouncements – New Developments and Adoptions of New Accounting Standards In May 2014 (amended January 2017), the Financial Accounting Standards Board (“FASB”) issued Accounting Standard Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers,” (ASC Topic 606) which provides a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and eliminates existing industry guidance, including revenue recognition guidance specific to the gaming industry. The core principle of the revenue model indicates that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. We adopted this standard effective January 1, 2018, and elected to apply the full retrospective adoption method. The most significant impacts of the adoption are summarized below in Note 2. In February 2016, the FASB issued ASU No. 2016-02 which addresses the recognition and measurement of leases. Under the new guidance, for all leases (with the exception of short-term leases), at the commencement date, lessees will be required to recognize a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis, and a right-of-use (“ROU”) asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Under the new guidance, lessor accounting is largely unchanged. Further, the new lease guidance simplifies the accounting for sale and leaseback transactions primarily because lessees must recognize lease assets and liabilities, which no longer provides a source for off balance sheet financing. The effective date for this update is for the annual and interim periods beginning after December 15, 2018 with early adoption permitted. Lessees and lessors must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the consolidated financial statements. Currently, we do not have any material capital leases nor any material operating leases where we are the lessor. Our operating leases, primarily relating to certain ground leases and slot machines or VLTs, will be recorded on the balance sheet as an ROU asset with a corresponding lease liability, which will be amortized using the effective interest rate method as payments are made. The ROU asset will be depreciated on a straight-line basis and recognized as lease expense. The qualitative and quantitative effects of adoption of ASU 2016-02 are still being analyzed, and we are in the process of evaluating the full effect the new guidance will have on our consolidated financial statements and any new considerations with respect to any pending acquisitions. In November 2016, ASU No. 2016-18 was issued related to the inclusion of restricted cash in the statement of cash flows. This new guidance requires that a statement of cash flows present the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalent. This update is effective in fiscal years, including interim periods, beginning after December 15, 2017. The Company retrospectively adopted this guidance as of December 31, 2017. Upon adoption, the Company included a reconciliation of Cash and cash equivalents and restricted cash reported within the Consolidated Balance Sheets to the total shown in the Consolidated Statements of Cash Flows. Adoptions of this guidance had no other impact on the Consolidated Financial Statements or disclosures. Certain amounts have been retrospectively reclassified for the three months ended March 31, 2017 to conform to the current period presentation and reflect the change in the Company’s Consolidated Statements of Cash Flows required with the adoption of ASU No. 2016-15 as of January 1, 2018 related to the classification of certain items on the statement of cash flows and ASU No 2016-18 as of December 31, 2017 related to the inclusion of restricted cash in the statement of cash flows as further described above. In January 2017, the FASB issued ASU No. 2017-01, “Business Combinations – Clarifying the Definition of a Business.” This amendment is intended to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisition (or disposals) of assets or businesses. Amendments in this update provide a more robust framework to use in determining when a set of assets and activities is a business and to provide more consistency in applying the guidance, reduce the costs of application, and make the definition of a business more operable. The amendments are effective for interim and annual periods beginning after December 15, 2017, with early adoption allowed as follows: (1) transactions for which acquisition date occurs before the issuance date or effective date of the amendments, only when the transaction has not been reported in financial statements that have been issued or made available for issuance and (2) transactions in which a subsidiary is deconsolidated or a group of assets is derecognized that occur before the issuance date or effective date of the amendments, only when the transaction has not been reported in financial statements that have been issued or made available for issuance. We adopted this accounting standard during the first quarter of 2018, which did not have an impact on our consolidated financial statements, and will result in future acquisitions which do not involve substantive processes being accounted for as asset acquisitions.

Revenue Recognition (Tables)

Revenue Recognition (Tables) - Adoption of ASC Topic 606	3 Months Ended
	Mar. 31, 2018
Schedule of Impact of Adoption New Standard to Previously reported Selected Financial Statement Information	Adoption of the new standard did not have a significant impact on our previously reported net revenue, expenses, operating income, and net income. The impact of adoption of the new standard to previously reported selected financial statement information was as follows (in thousands): Three Months Ended March 31, 2017 As Reported Adjustments As Adjusted Gross revenues $ 219,546 $ (17,153 ) $ 202,393 Promotional allowances (18,621 ) 18,621 — Net revenues $ 200,925 $ 1,468 $ 202,393 Operating income (loss) $ 14,149 $ (121 ) $ 14,028 Net income (loss) $ 1,021 $ (76 ) $ 945
Summary of Net Revenues Disaggregated Type of Revenue and Reportable Segment	The Company’s consolidated statement of income presents net revenue disaggregated by type or nature of the good or service (i.e., casino, pari-mutuel, food and beverage, hotel and other). A summary of net revenues disaggregated by type of revenue and reportable segment is presented below (amounts in thousands). Refer to Note 13 for a discussion of the Company’s reportable segments. Three Months Ended March 31, 2018 West Midwest South East Corporate and Other Total Casino $ 49,734 $ 88,359 $ 97,509 $ 103,856 $ — $ 339,458 Pari-mutuel commissions — — 3,409 661 — 4,070 Food and beverage 23,211 6,916 13,860 8,211 — 52,198 Hotel 19,430 3,637 5,992 1,682 — 30,741 Other 7,204 1,883 2,030 2,481 127 13,725 Net revenues $ 99,579 $ 100,795 $ 122,800 $ 116,891 $ 127 $ 440,192 Three Months Ended March 31, 2017 West Midwest South East Corporate and Other Total Casino $ 23,833 $ — $ 23,169 $ 94,552 $ — $ 141,554 Pari-mutuel commissions — — — 636 — 636 Food and beverage 19,492 — 5,734 7,195 — 32,421 Hotel 14,651 — 2,924 1,730 — 19,305 Other 5,512 — 733 2,174 58 8,477 Net revenues $ 63,488 $ — $ 32,560 $ 106,287 $ 58 $ 202,393

Isle Acquisition and Final Pu25

Isle Acquisition and Final Purchase Price Accounting (Tables)	3 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
Schedule of Purchase Consideration Calculation	Purchase consideration calculation (dollars in thousands, except shares and stock price) Shares Per share Cash paid for outstanding Isle common stock (1) $ 552,050 Shares of ERI common stock issued for Isle common stock (2) 28,468,182 $ 19.12 544,312 Cash paid by ERI to retire Isle's long-term debt (3) 828,000 Shares of ERI common stock for Isle equity awards (4) 10,383 Purchase consideration $ 1,934,745 (1) The cash component of the consideration represents 58% of the aggregate consideration paid in the Isle Acquisition. The Merger Agreement provided that Isle stockholders could elect to exchange each share of Isle common stock for either $23.00 in cash or 1.638 shares of ERI common stock, subject to proration such that the outstanding shares of Isle common stock will be exchanged for aggregate consideration comprised of 58% cash and 42% ERI common stock. See discussion of Stock Consideration component in note (2) below. (2) The Stock Consideration component of the consideration represents 42% of the aggregate consideration paid in the Isle Acquisition. The Merger Agreement provided that 58% of the aggregate consideration would be paid by ERI in cash, as described in note (1) above. The remaining 42% of the aggregate consideration was paid in shares of ERI common stock. The total Stock Consideration and per share consideration above were based on the ERI stock price on April 28, 2017 (the last business day prior to Isle Acquisition Date) which was $19.12 per share. (3) In addition to the cash paid to retire the principal amounts outstanding of Isle’s long-term debt, ERI paid $26.6 million in premiums and interest. (4) This amount represents consideration paid for the replacement of Isle’s outstanding equity awards. As discussed in Note 1, Isle’s outstanding equity awards were replaced by ERI equity awards with similar terms. A portion of the fair value of ERI awards issued represents consideration transferred, while a portion represents compensation expense based on the vesting terms of the equity awards.
Summary of the Preliminary Accounting of the Purchase Consideration to the Identifiable Assets Acquired and Liabilities Assumed	The following table summarizes the final purchase accounting of the purchase consideration to the identifiable Current and other assets, net $ 135,925 Property and equipment 908,816 Goodwill 709,087 Intangible assets (i) 517,470 Other noncurrent assets 15,082 Total assets 2,286,380 Current liabilities (144,306 ) Deferred income taxes (ii) (189,952 ) Other noncurrent liabilities (17,377 ) Total liabilities (351,635 ) Net assets acquired $ 1,934,745 (i) Intangible assets consist of gaming licenses, trade names, and player relationships. (ii) Deferred tax liabilities were derived based on fair value adjustments for property and equipment and identified intangibles.
Schedule of Unaudited Pro Forma Information	The following unaudited pro forma information presents the results of operations of the Company for the three months ended March 31, 2017, as if the Isle Acquisition had occurred on January 1, 2017 (in thousands). Three Months Ended March 31, 2017 Net operating revenues $ 448,469 Net loss (30,303 )

Assets Held for Sale (Tables)

Assets Held for Sale (Tables)	3 Months Ended
	Mar. 31, 2018
Discontinued Operations And Disposal Groups [Abstract]
Schedule of Assets and Liabilities Held for Sale	The assets and liabilities held for sale were as follows (in thousands): March 31, 2018 Vicksburg Presque Isle Downs Total Assets: Accounts receivable, net $ 110 $ 2,083 $ 2,193 Inventories 283 1,530 1,813 Prepaid expenses and other 232 1,072 1,304 Property and equipment, net 35,615 68,039 103,654 Goodwill 8,806 3,122 11,928 Other intangibles, net 2,720 75,422 78,142 Assets held for sale $ 47,766 $ 151,268 $ 199,034 Liabilities: Accounts payable $ 181 $ 688 $ 869 Accrued payroll and related 183 537 720 Accrued property and other taxes — 61 61 Accrued other liabilities 367 3,381 3,748 Liabilities related to assets held for sale $ 731 $ 4,667 $ 5,398

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2018
Share Based Compensation [Abstract]
Schedule of Share-based Compensation, Restricted Stock Units Award Activity	A summary of the RSU activity for the three months ended March 31, 2018 is presented in the following table: Equity Awards Weighted- Average Grant Date Fair Value Weighted- Average Remaining Contractual Life Aggregate Fair Value (in years) (in millions) Unvested outstanding as of December 31, 2017 1,579,499 $ 12.25 0.92 $ 19.35 Granted (1) 282,638 32.59 Vested (2) (665,704 ) 5.91 Unvested outstanding as of March 31, 2018 1,196,433 $ 20.59 1.58 $ 24.63 (1) Includes 78,674 of performance awards at 100% of target, 196,549 time-based awards at 100% of target and 7,415 of the first year of the two-year 2017 performance awards at 116% of target. (2) Represents 357,565 performance awards and 255,511 time-based awards granted in January 2015 which vested in January 2018, 9,786 Isle RSUs, 10,558 time-based awards granted to a key employee in May 2017 and 32,284 awards granted to non-employee board members in January 2018 which vested immediately.
Schedule of Share-based Compensation, Stock Options, Activity	A summary of the ERI Stock Option activity for the three months ended March 31, 2018 is presented in the following table: Weighted- Weighted- Average Average Range of Exercise Remaining Aggregate Options Exercise Prices Price Contractual Life Intrinsic Value (in years) (in millions) Outstanding and Exercisable as of December 31, 2017 271,852 $ 3.94 $ 15.60 $ 9.63 5.22 $ 6.4 Exchanged — — — — Expired — — — — Exercised — — — — Outstanding and Exercisable as of March 31, 2018 271,852 $ 3.94 $ 15.60 $ 9.63 4.97 $ 6.2
Summary of Restricted Stock Awards Activity	A summary of the ERI Restricted Stock Awards activity for the three months ended March 31, 2018 is presented in the following table: Weighted- Average Grant Date Restricted Stock Fair Value Outstanding as of December 31, 2017 10,809 $ 19.13 Vested (2,403 ) 19.13 Outstanding as of March 31, 2018 8,406 $ 19.13 There were no options exercised or expired during the three months ended March 31, 2018.

Other and Intangible Assets, 28

Other and Intangible Assets, Net (Tables)	3 Months Ended
	Mar. 31, 2018
Other And Intangible Assets Net Disclosure [Abstract]
Schedule of Other and Intangible Assets, Net	Other and intangible assets, net, include the following amounts (in thousands): March 31, December 31, 2018 2017 Useful Life (unaudited) Goodwill $ 719,255 $ 747,106 Indefinite Gaming licenses $ 801,774 $ 877,174 Indefinite Trade names 105,550 108,250 Indefinite Trade names 5,100 6,700 1 - 3.5 years Loyalty programs 20,193 21,820 1 - 3 years Subtotal 932,617 1,013,944 Accumulated amortization trade names (5,100 ) (6,290 ) Accumulated amortization loyalty programs (10,407 ) (10,838 ) Total gaming licenses and other intangible assets $ 917,110 $ 996,816 Non-operating real property $ 14,030 $ 18,069 Unamortized debt issuance costs - New Revolving Credit Facility $ 8,115 $ 8,616 Restricted cash 9,862 9,886 Other 12,253 12,130 Total other assets, net $ 30,230 $ 30,632

Long-Term Debt and Other Long29

Long-Term Debt and Other Long-Term Liabilities (Tables)	3 Months Ended
	Mar. 31, 2018
Summary of Long-term Debt	Long‑term debt consisted of the following (in thousands): March 31, December 31, 2018 2017 (unaudited) New Term Loan $ 956,750 $ 956,750 Less: Unamortized discount and debt issuance costs (18,149 ) (18,748 ) Net 938,601 938,002 6% Senior Notes 875,000 875,000 Plus: Unamortized debt premium 25,841 26,605 Less: Unamortized debt issuance costs (20,152 ) (20,716 ) Net 880,689 880,889 7% Senior Notes 375,000 375,000 Less: Unamortized discount and debt issuance costs (6,905 ) (7,146 ) Net 368,095 367,854 Capital leases 769 917 Long-term notes payable 2,509 2,531 Less: Current portion (553 ) (615 ) Total long-term debt $ 2,190,110 $ 2,189,578
7% Senior Notes
Schedule of Redemption Prices of Notes	On or after August 1, 2018, the Company may redeem all or a portion of the 7% Senior Notes upon not less than 30 nor more than 60 days’ notice, at the redemption prices (expressed as percentages of the principal amount) set forth below plus accrued and unpaid interest and additional interest, if any, on the 7% Senior Notes redeemed, to the applicable redemption date, if redeemed during the twelve month period beginning on August 1 of the years indicated below: Year Percentage 2018 105.250 % 2019 103.500 % 2020 101.750 % 2021 and thereafter 100.000 %
6% Senior Notes
Schedule of Redemption Prices of Notes	On or after April 1, 2020, the Company may redeem all or a portion of the 6% Senior Notes upon not less than 30 nor more than 60 days’ notice, at the redemption prices (expressed as percentages of the principal amount) set forth below plus accrued and unpaid interest and additional interest, if any, on the 6% Senior Notes redeemed, to the applicable redemption date, if redeemed during the 12-month period beginning on April 1 of the years indicated below: Year Percentage 2020 104.500 % 2021 103.000 % 2022 101.500 % 2023 and thereafter 100.000 %

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Schedule of Assets Measured at Fair Value on a Recurring Basis	Items Measured at Fair Value on a Recurring Basis : The following table sets forth the assets measured at fair value on a recurring basis, by input level, in the consolidated balance sheets at March 31, 2018 and December 31, 2017 (amounts in thousands): March 31, 2018 Assets: Level 1 Level 2 Total Restricted cash and investments $ 9,449 $ 4,072 $ 13,521 Marketable securities 8,284 8,952 17,236 December 31, 2017 Assets: Level 1 Level 2 Total Restricted cash and investments $ 9,055 $ 4,098 $ 13,153 Marketable securities 7,906 9,725 17,631
Schedule of estimated fair value of financial instruments	The estimated fair values of the Company’s financial instruments are as follows (amounts in thousands): March 31, 2018 December 31, 2017 Carrying Fair Carrying Fair Amount Value Amount Value Financial liabilities: 7% Senior Notes $ 368,095 $ 394,687 $ 367,854 $ 400,800 6% Senior Notes 880,689 881,563 880,889 914,375 New Term Loan 938,601 959,142 938,002 956,750 Other long-term debt 2,509 2,509 2,531 2,531 Capital leases 769 769 917 917

Earnings per Share (Tables)

Earnings per Share (Tables)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share Basic And Diluted [Abstract]
Schedule of Reconciliation of the Numerators and Denominators of the Basic and Diluted Net Income Per Share Computations	The following table illustrates the reconciliation of the numerators and denominators of the basic and diluted net income per share computations for the three months ended March 31, 2018 and 2017 (dollars in thousands, except per share amounts): Three Months Ended March 31, 2018 2017 (unaudited) Net income available to common stockholders $ 20,855 $ 945 Shares outstanding: Weighted average shares outstanding – basic 77,353,730 47,120,751 Effect of dilutive securities: Stock options 152,906 50,799 RSUs 573,413 909,731 Weighted average shares outstanding – diluted 78,080,049 48,081,281 Net income per common share attributable to common stockholders – basic: $ 0.27 $ 0.02 Net income per common share attributable to common stockholders – diluted: $ 0.27 $ 0.02

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Summary of Reportable Segment	The previously reported segments, Nevada, Louisiana, and Eastern, are now included in the West, South, and East segments, respectively, which are summarized as follows, along with the Midwest segment. Segment Property State West Eldorado Reno Nevada Silver Legacy Nevada Circus Reno Nevada Isle Black Hawk Colorado Lady Luck Black Hawk Colorado Midwest Waterloo Iowa Bettendorf Iowa Boonville Missouri Cape Girardeau Missouri Caruthersville Missouri Kansas City Missouri South Pompano Florida Eldorado Shreveport Louisiana Lake Charles Louisiana Lula Mississippi Vicksburg Mississippi East Presque Isle Downs Pennsylvania Nemacolin Pennsylvania Scioto Downs Ohio Mountaineer West Virginia
Schedule of Operating Data for Reportable Segments	The following table sets forth, for the periods indicated, certain operating data for our four reportable segments. Amounts related to pre-acquisition periods (prior to May 1, 2017) conform to prior presentation as the additional operating segments associated with the Isle Acquisition are incremental to the previously disclosed reportable segments. Three Months Ended Ended March 31, 2018 2017 (in thousands, unaudited) Revenues and expenses West: Net operating revenues $ 99,579 $ 63,488 Operating income—West 10,139 1,355 Midwest: Net operating revenues $ 100,795 $ — Operating income—Midwest 26,676 — South: Net operating revenues $ 122,800 $ 32,560 Operating income—South 13,359 5,918 East: Net operating revenues $ 116,891 $ 106,287 Operating income—East 19,131 15,034 Corporate: Net operating revenues $ 127 $ 58 Operating loss—Corporate (15,111 ) (8,279 ) Total Reportable Segments Net operating revenues $ 440,192 $ 202,393 Operating income – Total Reportable Segments 54,194 14,028 Reconciliations to Consolidated Net Income: Operating Income — Total Reportable Segments $ 54,194 $ 14,028 Unallocated income and expenses: Interest expense, net (31,251 ) (12,670 ) Provision for income taxes (2,088 ) (413 ) Net income $ 20,855 $ 945
Schedule of Capital Expenditures for Reportable Segments	Three Months Ended March 31, 2018 2017 (in thousands, unaudited) Capital Expenditures West $ 10,181 $ 4,154 Midwest 2,741 — South 2,883 547 East 2,874 1,430 Corporate 2,592 75 Total $ 21,271 $ 6,206
Schedule of Balance Sheet Information for Reportable Segments	West Midwest South East Corporate, Other & Eliminations Total Balance sheet as of March 31, 2018 (unaudited) (in thousands) Total assets $ 1,285,898 $ 1,199,909 $ 804,736 $ 1,189,210 $ (927,533 ) $ 3,552,220 Goodwill 152,762 322,745 180,044 63,704 — 719,255 Balance sheet as of December 31, 2017 Total assets $ 1,278,062 $ 1,188,758 $ 804,318 $ 1,185,806 $ (910,472 ) $ 3,546,472 Goodwill 152,775 327,088 200,417 66,826 — 747,106

Consolidating Condensed Finan33

Consolidating Condensed Financial Information (Tables)	3 Months Ended
	Mar. 31, 2018
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Consolidating Condensed Balance Sheet	The consolidating condensed balance sheet as of March 31, 2018 is as follows: Balance Sheet Eldorado Resorts, Inc. (Parent Obligor) Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating and Eliminating Entries Eldorado Resorts, Inc. Consolidated (in thousands, unaudited) Current assets $ 68,033 $ 380,583 $ 26,693 $ — $ 475,309 Intercompany receivables 211,587 — 29,049 (240,636 ) — Investments in subsidiaries 2,480,728 — — (2,480,728 ) — Property and equipment, net 12,444 1,375,675 8,167 — 1,396,286 Other assets 47,511 1,656,163 22,925 (45,974 ) 1,680,625 Total assets $ 2,820,303 $ 3,412,421 $ 86,834 $ (2,767,338 ) $ 3,552,220 Current liabilities $ 43,159 $ 151,378 $ 22,753 $ — $ 217,290 Intercompany payables — 215,636 25,000 (240,636 ) — Long-term debt, less current maturities 1,814,801 375,000 309 — 2,190,110 Deferred income tax liabilities — 213,569 — (45,974 ) 167,595 Other accrued liabilities 3,791 12,019 2,784 — 18,594 Stockholders’ equity 958,552 2,444,819 35,988 (2,480,728 ) 958,631 Total liabilities and stockholders’ equity $ 2,820,303 $ 3,412,421 $ 86,834 $ (2,767,338 ) $ 3,552,220 The consolidating condensed balance sheet as of December 31, 2017 is as follows: Balance Sheet Eldorado Resorts, Inc. (Parent Obligor) Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating and Eliminating Entries Eldorado Resorts, Inc. Consolidated (in thousands) Current assets $ 27,572 $ 201,321 $ 22,139 $ — $ 251,032 Intercompany receivables 274,148 — 34,492 (308,640 ) — Investments in subsidiaries 2,437,287 — — (2,437,287 ) — Property and equipment, net 12,042 1,483,473 7,302 — 1,502,817 Other assets 37,458 1,764,291 27,283 (36,409 ) 1,792,623 Total assets $ 2,788,507 $ 3,449,085 $ 91,216 $ (2,782,336 ) $ 3,546,472 Current liabilities $ 28,676 $ 169,348 $ 25,726 $ — $ 223,750 Intercompany payables — 283,640 25,000 (308,640 ) — Long-term debt, less current maturities 1,814,185 375,000 393 — 2,189,578 Deferred income tax liabilities — 199,376 — (36,409 ) 162,967 Other accrued liabilities 4,127 19,624 4,828 — 28,579 Stockholders’ equity 941,519 2,402,097 35,269 (2,437,287 ) 941,598 Total liabilities and stockholders’ equity $ 2,788,507 $ 3,449,085 $ 91,216 $ (2,782,336 ) $ 3,546,472
Consolidating Condensed Statements of Operations	The consolidating condensed statement of operations for the three months ended March 31, 2018 is as follows: Eldorado Resorts, Inc. (Parent Obligor) Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating and Eliminating Entries Eldorado Resorts, Inc. Consolidated (in thousands, unaudited) Revenues: Gaming and pari-mutuel commissions $ — $ 335,793 $ 7,735 $ — $ 343,528 Non-gaming — 94,023 2,641 — 96,664 Net revenues — 429,816 10,376 — 440,192 Operating expenses: Gaming and pari-mutuel commissions — 164,303 5,248 — 169,551 Non-gaming — 63,975 712 — 64,687 Marketing and promotions — 20,835 466 — 21,301 General and administrative — 72,427 1,775 — 74,202 Corporate 10,294 322 953 — 11,569 Impairment charges — 9,815 — — 9,815 Management fee (5,137 ) 5,137 — — — Depreciation and amortization 772 30,601 161 — 31,534 Total operating expenses 5,929 367,415 9,315 — 382,659 Loss on sale of asset or disposal of property and equipment — (706 ) — — (706 ) Transaction expenses (2,118 ) (430 ) — — (2,548 ) Equity in loss of unconsolidated affiliate — (85 ) — — (85 ) Operating (loss) income (8,047 ) 61,180 1,061 — 54,194 Interest expense, net (24,432 ) (6,286 ) (533 ) — (31,251 ) Subsidiary income (loss) 43,305 — — (43,305 ) — Income (loss) before income taxes 10,826 54,894 528 (43,305 ) 22,943 Income tax benefit (provision) 10,029 (12,303 ) 186 — (2,088 ) Net income (loss) $ 20,855 $ 42,591 $ 714 $ (43,305 ) $ 20,855 The consolidating condensed statement of operations for the three months ended March 31, 2017 is as follows: Eldorado Resorts, Inc. (Parent Obligor) Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating and Eliminating Entries Eldorado Resorts, Inc. Consolidated (in thousands, unaudited) Revenues: Gaming and pari-mutuel commissions $ — $ 142,185 $ 5 $ — $ 142,190 Non-gaming — 60,145 58 — 60,203 Net revenues — 202,330 63 — 202,393 Operating expenses: Gaming and pari-mutuel commissions — 81,188 — — 81,188 Non-gaming — 41,266 — — 41,266 Marketing and promotions — 10,125 4 — 10,129 General and administrative — 31,800 — — 31,800 Corporate 6,574 — — — 6,574 Management fee (6,574 ) 6,574 — — — Depreciation and amortization 149 15,455 — — 15,604 Total operating expenses 149 186,408 4 — 186,561 Loss on sale of asset or disposal of property and equipment — 32 — — 32 Transaction expenses (1,614 ) — — — (1,614 ) Equity in loss of unconsolidated affiliate — (222 ) — — (222 ) Operating (loss) income (1,763 ) 15,732 59 — 14,028 Interest expense, net (6,089 ) (6,581 ) — — (12,670 ) Subsidiary income (loss) 9,255 — — (9,255 ) — Income (loss) before income taxes 1,403 9,151 59 (9,255 ) 1,358 Income tax (provision) benefit (458 ) 45 — — (413 ) Net income (loss) $ 945 $ 9,196 $ 59 $ (9,255 ) $ 945
Consolidating Condensed Statement of Cash Flows	The consolidating condensed statement of cash flows for the three months ended March 31, 2018 is as follows: Eldorado Resorts, Inc. (Parent Obligor) Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating and Entries Eldorado Resorts, Inc. Consolidated (in thousands, unaudited) Net cash (used in) provided by operating activities $ (7,128 ) $ 87,253 $ (2,118 ) $ — $ 78,007 INVESTING ACTIVITIES: Purchase of property and equipment, net (1,233 ) (19,011 ) (1,027 ) — (21,271 ) Proceeds from sale of property and equipment — 150 — — 150 Net cash provided by (used in) investing activities (1,233 ) (18,861 ) (1,027 ) — (21,121 ) FINANCING ACTIVITIES: Net proceeds from (payments to) related parties 62,560 (66,660 ) 4,100 — — Payment of other long-term obligation (22 ) — — — (22 ) Payments on capital leases — (78 ) (70 ) — (148 ) Debt issuance costs (304 ) — — — (304 ) Taxes paid related to net share settlement of equity awards (7,502 ) — — — (7,502 ) Net cash provided by (used in) financing activities 54,732 (66,738 ) 4,030 — (7,976 ) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 46,371 1,654 885 — 48,910 CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR 13,836 118,483 15,430 — 147,749 CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD $ 60,207 $ 120,137 $ 16,315 $ — $ 196,659 RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO AMOUNTS REPORTED WITHIN THE CONDENSED CONSOLIDATED BALANCE SHEETS: Cash and cash equivalents $ 59,490 $ 116,394 $ 7,254 $ — $ 183,138 Restricted cash 717 2,743 199 — 3,659 Restricted cash included in other noncurrent assets — 1,000 8,862 — 9,862 TOTAL CASH, CASH EQUIVALENTS AND RESTRICTED CASH $ 60,207 $ 120,137 $ 16,315 $ — $ 196,659 The consolidating condensed statement of cash flows for the three months ended March 31, 2017 is as follows: Eldorado Resorts, Inc. (Parent Obligor) Guarantor Subsidiaries Non-Guarantor Subsidiaries Consolidating and Eliminating Entries Eldorado Resorts, Inc. Consolidated (in thousands, unaudited) Net cash (used in) provided by operating activities $ (2,768 ) $ 7,862 $ 89 $ — $ 5,183 INVESTING ACTIVITIES: Purchase of property and equipment, net (151 ) (6,055 ) — — (6,206 ) Proceeds from sale of property and equipment — 32 — — 32 (Decrease) increase in other assets, net (565 ) 417 — — (148 ) Cash escrow related to acquisition (376,750 ) — — — (376,750 ) Net cash used in investing activities (377,466 ) (5,606 ) — — (383,072 ) FINANCING ACTIVITIES: Proceeds from issuance of 6% Senior Notes 375,000 — — — 375,000 Payments under Term Loan (1,063 ) — — — (1,063 ) Borrowings under Prior Revolving Credit Facility 23,000 — — — 23,000 Payments under Prior Revolving Credit Facility (29,000 ) — — — (29,000 ) Principal payments on capital leases — (94 ) — — (94 ) Debt issuance costs (7,016 ) — — — (7,016 ) Net proceeds from (payments to) related parties 18,746 (18,634 ) (112 ) — — Taxes paid related to net share settlement of equity awards (179 ) — — — (179 ) Proceeds from exercise of stock options 434 — — — 434 Net cash provided by (used in) financing activities 379,922 (18,728 ) (112 ) — 361,082 INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (312 ) (16,472 ) (23 ) — (16,807 ) CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR 1,409 61,702 332 — 63,443 CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD $ 1,097 $ 45,230 $ 309 $ — $ 46,636 RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO AMOUNTS REPORTED WITHIN THE CONDENSED CONSOLIDATED BALANCE SHEETS: Cash and cash equivalents $ 419 $ 43,846 $ 309 $ — $ 44,574 Restricted cash 678 1,384 — — 2,062 TOTAL CASH, CASH EQUIVALENTS AND RESTRICTED CASH $ 1,097 $ 45,230 $ 309 $ — $ 46,636

Organization and Basis of Pre34

Organization and Basis of Presentation - Additional information (Details)	3 Months Ended
	Mar. 31, 2018roomMachineGameTerminalaHotel
Isle Casino Hotel
Organization and Basis of Presentation
Number of room in hotel	238
Number of slot machines | Machine	1,026
Number of table games | Game	27
Number of table poker room	9
Number of acre owned | a	10
Lady Luck Casino
Organization and Basis of Presentation
Number of room in hotel	164
Number of slot machines | Machine	452
Number of table games | Game	10
Number of table poker room	5
Isle Casino Racing Pompano
Organization and Basis of Presentation
Number of slot machines | Machine	1,455
Number of table poker room	45
Number of acre owned | a	223
Isle Casino Bettendorf
Organization and Basis of Presentation
Number of room in hotel	509
Number of slot machines | Machine	978
Number of table games | Game	20
Number of towers in hotel	2
Isle Casino Waterloo
Organization and Basis of Presentation
Number of room in hotel	194
Number of slot machines | Machine	940
Number of table games | Game	25
Isle of Capri Casino Hotel Lake Charles
Organization and Basis of Presentation
Number of room in hotel	493
Number of slot machines | Machine	1,173
Number of table games | Game	47
Number of table poker room	13
Number of acre owned | a	19
Number of hotels | Hotel	2
Isle of Capri Casino Lula
Organization and Basis of Presentation
Number of room in hotel	486
Number of slot machines | Machine	875
Number of table games | Game	20
Number of hotels | Hotel	2
Lady Luck Casino Vicksburg
Organization and Basis of Presentation
Number of room in hotel	89
Number of slot machines | Machine	616
Number of table games | Game	9
Isle of Capri Casino Boonville
Organization and Basis of Presentation
Number of room in hotel	140
Number of slot machines | Machine	893
Number of table games | Game	20
Isle Casino Cape Girardeau
Organization and Basis of Presentation
Number of slot machines | Machine	872
Number of table games | Game	24
Number of table poker room	4
Lady Luck Casino Caruthersville
Organization and Basis of Presentation
Number of slot machines | Machine	516
Number of table games | Game	9
Isle of Capri Casino Kansas City
Organization and Basis of Presentation
Number of slot machines | Machine	966
Number of table games | Game	18
Lady Luck Casino Nemacolin
Organization and Basis of Presentation
Number of slot machines | Machine	600
Number of table games | Game	28
Number of acre owned | a	2,000
Circus Reno
Organization and Basis of Presentation
Number of room in hotel	1,571
Number of slot machines | Machine	712
Number of table games | Game	24
Eldorado Reno
Organization and Basis of Presentation
Number of room in hotel	814
Number of slot machines | Machine	1,125
Number of table games | Game	46
Silver Legacy
Organization and Basis of Presentation
Number of slot machines | Machine	1,187
Number of table games | Game	63
Number of rooms in themed hotel	1,711
Number of table poker room	13
Eldorado Shreveport
Organization and Basis of Presentation
Number of slot machines | Machine	1,397
Number of table games | Game	52
Number of table poker room	8
Number of rooms in suite art deco-style hotel	403
Mountaineer
Organization and Basis of Presentation
Number of room in hotel	357
Number of slot machines | Machine	1,508
Number of table games | Game	36
Number of table poker room	10
Presque Isle Downs
Organization and Basis of Presentation
Number of slot machines | Machine	1,593
Number of table games | Game	33
Number of table poker room	7
Scioto Downs
Organization and Basis of Presentation
Number of room in hotel	118
Number of video lottery terminals | Terminal	2,245

Revenue Recognition - Additiona

Revenue Recognition - Additional information (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)Customer	Mar. 31, 2017USD ($)	Dec. 31, 2017USD ($)
Revenue Recognition [Line Items]
Number of performance obligation | Customer	2
Adoption of ASC Topic 606
Revenue Recognition [Line Items]
Cumulative effect on retained earnings, before tax	$ 4.7
Cumulative effect on retained earnings, net of tax	$ 3.5
Loyalty Programs
Revenue Recognition [Line Items]
Deferred revenue redemption	less than one year
Loyalty point performance obligation liability	$ 11.5		$ 11.8
Complimentaries
Revenue Recognition [Line Items]
Loyalty point redemption revenue	$ 47.2	$ 23.7

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Impact of Adoption New Standard to Previously reported Selected Financial Statement Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenue Recognition [Line Items]
Net revenues	$ 440,192	$ 202,393
Operating income (loss)	54,194	14,028
Net income (loss)	20,855	945
Adoption of ASC Topic 606
Revenue Recognition [Line Items]
Gross revenues		202,393,000
Net revenues	$ 440,192,000	202,393,000
Operating income (loss)		14,028,000
Net income (loss)		945,000
As Reported | Adoption of ASC Topic 606
Revenue Recognition [Line Items]
Gross revenues		219,546,000
Promotional allowances		(18,621,000)
Net revenues		200,925,000
Operating income (loss)		14,149,000
Net income (loss)		1,021,000
Adjustments | Adoption of ASC Topic 606
Revenue Recognition [Line Items]
Gross revenues		(17,153,000)
Promotional allowances		18,621,000
Net revenues		1,468,000
Operating income (loss)		(121,000)
Net income (loss)		$ (76,000)

Revenue Recognition - Summary o

Revenue Recognition - Summary of Net Revenues Disaggregated Type of Revenue and Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenue Recognition [Line Items]
Casino	$ 339,458	$ 141,554
Pari-mutuel commissions	4,070	636
Food and beverage	52,198	32,421
Hotel	30,741	19,305
Other	13,725	8,477
Net revenues	440,192	202,393
Adoption of ASC Topic 606
Revenue Recognition [Line Items]
Casino	339,458,000	141,554,000
Pari-mutuel commissions	4,070,000	636,000
Food and beverage	52,198,000	32,421,000
Hotel	30,741,000	19,305,000
Other	13,725,000	8,477,000
Net revenues	440,192,000	202,393,000
Adoption of ASC Topic 606 | West Segment
Revenue Recognition [Line Items]
Casino	49,734,000	23,833,000
Food and beverage	23,211,000	19,492,000
Hotel	19,430,000	14,651,000
Other	7,204,000	5,512,000
Net revenues	99,579,000	63,488,000
Adoption of ASC Topic 606 | Midwest Segment
Revenue Recognition [Line Items]
Casino	88,359,000
Food and beverage	6,916,000
Hotel	3,637,000
Other	1,883,000
Net revenues	100,795,000
Adoption of ASC Topic 606 | South Segment
Revenue Recognition [Line Items]
Casino	97,509,000	23,169,000
Pari-mutuel commissions	3,409,000
Food and beverage	13,860,000	5,734,000
Hotel	5,992,000	2,924,000
Other	2,030,000	733,000
Net revenues	122,800,000	32,560,000
Adoption of ASC Topic 606 | East Segment
Revenue Recognition [Line Items]
Casino	103,856,000	94,552,000
Pari-mutuel commissions	661,000	636,000
Food and beverage	8,211,000	7,195,000
Hotel	1,682,000	1,730,000
Other	2,481,000	2,174,000
Net revenues	116,891,000	106,287,000
Adoption of ASC Topic 606 | Corporate and Other Segment
Revenue Recognition [Line Items]
Other	127,000	58,000
Net revenues	$ 127,000	$ 58,000

Isle Acquisition and Final Pu38

Isle Acquisition and Final Purchase Price Accounting - Schedule of Purchase Consideration Calculation (Details) - USD ($) $ / shares in Units, $ in Thousands	May 01, 2017	Mar. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Shares of ERI common stock issued for Isle common stock, shares		77,241,115	76,825,966
Isle of Capri
Business Acquisition [Line Items]
Cash paid for outstanding Isle common stock	$ 552,050
Shares of ERI common stock issued for Isle common stock, shares	28,468,182
Shares of ERI common stock issued for Isle common stock, per share	$ 19.12
Shares of ERI common stock issued for Isle common stock	$ 544,312
Cash paid by ERI to retire Isle's long-term debt	828,000
Shares of ERI common stock for Isle equity awards	10,383
Purchase consideration	$ 1,934,745

Isle Acquisition and Final Pu39

Isle Acquisition and Final Purchase Price Accounting - Schedule of Purchase Consideration Calculation (Parenthetical) (Details) - Isle of Capri - USD ($) $ / shares in Units, $ in Millions	May 01, 2017	Apr. 28, 2017
Business Acquisition [Line Items]
Cash paid for premiums and interest on Isle's long term debt	$ 26.6
Merger Agreement
Business Acquisition [Line Items]
Cash consideration paid as percent of outstanding shares	58.00%
Equity consideration paid as percent of outstanding shares	42.00%
Right to receive per share	$ 23
Stock election exchange rate (as a percent)	42.00%
Stock consideration (per share)		$ 19.12
Merger Agreement | Converted to a Right to Receive 1.638 Share of ERI Stock
Business Acquisition [Line Items]
Number of shares granted on conversion (per share)	1.638

Isle Acquisition and Final Pu40

Isle Acquisition and Final Purchase Price Accounting - Summary of Preliminary Purchase Price Accounting to Identifiable Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Goodwill	$ 719,255	$ 747,106
Isle of Capri
Business Acquisition [Line Items]
Current and other assets, net	135,925
Property and equipment	908,816
Goodwill	709,087
Intangible assets	517,470
Other noncurrent assets	15,082
Total assets	2,286,380
Current liabilities	(144,306)
Deferred income taxes	(189,952)
Other noncurrent liabilities	(17,377)
Total liabilities	(351,635)
Net assets acquired	$ 1,934,745

Isle Acquisition and Final Pu41

Isle Acquisition and Final Purchase Price Accounting - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Business Acquisition [Line Items]
Goodwill adjustment	$ 6,100
Net revenues	440,192	$ 202,393
Net income (loss)	20,855	945
Transaction expenses	2,548	1,614
Isle of Capri
Business Acquisition [Line Items]
Net revenues	231,900
Net income (loss)	30,400
Transaction expenses	$ 1,000	$ 1,600

Isle Acquisition and Final Pu42

Isle Acquisition and Final Purchase Price Accounting - Unaudited Pro Forma Information - (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)
Pro Forma Information
Net operating revenues	$ 448,469
Net loss	$ (30,303)

Assets Held for Sale - Addition

Assets Held for Sale - Additional information (Details) - Disposal Group, Held-for-sale, Not Discontinued Operations $ in Millions	Feb. 28, 2018USD ($)
Presque Isle Downs
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Cash consideration on sale of assets and liabilities	$ 178.9
Vicksburg
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Cash consideration on sale of assets and liabilities	$ 50.6

Assets Held for Sale - Schedule

Assets Held for Sale - Schedule of Assets and Liabilities Held for Sale (Details) $ in Thousands	Mar. 31, 2018USD ($)
ASSETS
Assets held for sale	$ 199,034
Liabilities:
Liabilities related to assets held for sale	5,398
Disposal Group, Held-for-sale, Not Discontinued Operations
ASSETS
Accounts receivable, net	2,193
Inventories	1,813
Prepaid expenses and other	1,304
Property and equipment, net	103,654
Goodwill	11,928
Other intangibles, net	78,142
Assets held for sale	199,034
Liabilities:
Accounts payable	869
Accrued payroll and related	720
Accrued property and other taxes	61
Accrued other liabilities	3,748
Liabilities related to assets held for sale	5,398
Vicksburg | Disposal Group, Held-for-sale, Not Discontinued Operations
ASSETS
Accounts receivable, net	110
Inventories	283
Prepaid expenses and other	232
Property and equipment, net	35,615
Goodwill	8,806
Other intangibles, net	2,720
Assets held for sale	47,766
Liabilities:
Accounts payable	181
Accrued payroll and related	183
Accrued other liabilities	367
Liabilities related to assets held for sale	731
Presque Isle Downs | Disposal Group, Held-for-sale, Not Discontinued Operations
ASSETS
Accounts receivable, net	2,083
Inventories	1,530
Prepaid expenses and other	1,072
Property and equipment, net	68,039
Goodwill	3,122
Other intangibles, net	75,422
Assets held for sale	151,268
Liabilities:
Accounts payable	688
Accrued payroll and related	537
Accrued property and other taxes	61
Accrued other liabilities	3,381
Liabilities related to assets held for sale	$ 4,667

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($)	Jan. 26, 2018	Jan. 27, 2017	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	Jan. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock, shares authorized			100,000,000		100,000,000	100,000,000
Common stock, par value per share			$ 0.00001		$ 0.00001
Common stock, shares authorized subject to approval			200,000,000
Stock-based compensation expense			$ 3,679,000	$ 1,733,000
Plan 2,015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Description of stock ownership guidelines			The stock ownership guidelines require our non-employee directors to hold shares of our common stock with a minimum value equal to five times the director’s annual cash base retainer fee. Prior to achievement of the minimum stock ownership guideline, RSU grants will vest immediately; however, settlement will be mandatorily deferred until termination of Board service.
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			3 years
Performance Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted (in shares)			78,674
Percentage of target to be achieved to be eligible to receive performance awards			100.00%
PSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of shares earned at threshold performance		50.00%
Percentage of shares earned at target performance		100.00%
Percentage of shares earned at maximum performance		200.00%
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted (in shares)			282,638
Fair value, per unit		$ 15.50
Restricted Stock Units (RSUs) | Non Employee Board
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted (in shares)	32,284	46,282
Restricted Stock Units (RSUs) | Key Employees
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted (in shares)					246,755
Restricted Stock Units (RSUs) | Executive Officer
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted (in shares)	242,939
Fair value, per unit	$ 33.05
Restricted Stock Units (RSUs) | Executive Officer
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted (in shares)		298,761
Performance Awards Two
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted (in shares)	7,415		7,415
Percentage of target to be achieved to be eligible to receive performance awards	116.00%		116.00%
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation cost for unvested restricted stock			$ 18,000
Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance period			1 year
Minimum | Plan 2015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Payout range as a percent of award target			0.00%
Minimum | Performance Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			1 year
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance period			2 years
Maximum | Plan 2015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Payout range as a percent of award target			200.00%
Maximum | Performance Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period			2 years

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of RSU Activity (Details) - Restricted Stock Units (RSUs) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Equity Awards
Outstanding at the beginning of the Period (in shares)	1,579,499
Granted (in shares)	282,638
Vested	(665,704)
Outstanding at the end of the Period (in shares)	1,196,433	1,579,499
Weighted Average Grant Date Fair Value
Unvested outstanding as of beginning of period	$ 12.25
Granted	32.59
Vested	5.91
Unvested outstanding as of end of period	$ 20.59	$ 12.25
Weighted- Average Remaining Contractual Life
Weighted- Average Remaining Contractual Life (in years)	1 year 6 months 29 days	11 months 1 day
Aggregate Intrinsic Value
Aggregate Fair Value	$ 24,630	$ 19,350

Stock-Based Compensation - Su47

Stock-Based Compensation - Summary of RSU Activity (Parenthetical) (Details) - shares	Jan. 26, 2018	Jan. 31, 2018	May 31, 2017	Mar. 31, 2018	Dec. 31, 2017
Performance Awards
Summary of the RSU activity
Granted (in shares)				78,674
Percentage of target to be achieved to be eligible to receive performance awards				100.00%
Vested (in Shares)				357,565
Time-based Awards
Summary of the RSU activity
Granted (in shares)				196,549
Percentage of target to be achieved to be eligible to receive performance awards				100.00%
Vested (in Shares)				255,511
Time-based Awards | Key Employees
Summary of the RSU activity
Granted (in shares)			10,558
Performance Awards Two
Summary of the RSU activity
Granted (in shares)	7,415			7,415
Percentage of target to be achieved to be eligible to receive performance awards	116.00%			116.00%
Restricted Stock Units (RSUs)
Summary of the RSU activity
Granted (in shares)				282,638
Vested (in Shares)				665,704
Restricted Stock Units (RSUs) | Key Employees
Summary of the RSU activity
Granted (in shares)					246,755
Restricted Stock Units (RSUs) | Isle of Capri | Key Employees
Summary of the RSU activity
Granted (in shares)			9,786
Non Employee Board
Summary of the RSU activity
Granted (in shares)		32,284

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Share-based Compensation, Stock Options, Activity (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Options
Outstanding at the beginning of the Period (in shares)	271,852
Exercised (in shares)	0
Outstanding at the end of the Period (in shares)	271,852	271,852
Range of Exercise Price
Lower end of exercise price	$ 3.94	$ 3.94
Upper end of exercise price	15.60	15.60
Weighted-Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)	9.63
Outstanding at the end of the period (in dollars per share)	$ 9.63	$ 9.63
Weighted- Average Remaining Contractual Life
Weighted- Average Remaining Contractual Life (in years)	4 years 11 months 19 days	5 years 2 months 19 days
Aggregate Intrinsic Value
Aggregate Intrinsic Value	$ 6.2	$ 6.4

Stock-Based Compensation - Su49

Stock-Based Compensation - Summary of Restricted Stock Awards Activity (Details) - Restricted Stock	3 Months Ended
	Mar. 31, 2018$ / sharesshares
Equity Awards
Outstanding at the beginning of the Period (in shares) | shares	10,809
Vested | shares	(2,403)
Outstanding at the end of the Period (in shares) | shares	8,406
Weighted Average Grant Date Fair Value
Unvested outstanding as of beginning of period | $ / shares	$ 19.13
Vested | $ / shares	19.13
Unvested outstanding as of end of period | $ / shares	$ 19.13

Stock-Based Compensation - Su50

Stock-Based Compensation - Summary of Restricted Stock Awards Activity (Parenthetical) (Details)	3 Months Ended
	Mar. 31, 2018shares
Equity Awards
Exercise of stock options	0

Other and Intangible Assets, 51

Other and Intangible Assets, Net - Schedule of Other and Intangible Assets, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Goodwill	$ 719,255	$ 747,106
Goodwill, useful life	Indefinite
Intangible assets, excluding goodwill- gross	$ 932,617	1,013,944
Total gaming licenses and other intangible assets	917,110	996,816
Non-operating real property	14,030	18,069
Unamortized debt issuance costs - New Revolving Credit Facility	8,115	8,616
Restricted cash	9,862	9,886
Other	12,253	12,130
Total other assets, net	30,230	30,632
Trade Names
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Finite-intangible assets, excluding goodwill- gross	5,100	6,700
Accumulated amortization	$ (5,100)	(6,290)
Trade Names | Minimum
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Finite-lived intangible asset, useful life	1 year
Trade Names | Maximum
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Finite-lived intangible asset, useful life	3 years 6 months
Loyalty Program
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Finite-intangible assets, excluding goodwill- gross	$ 20,193	21,820
Accumulated amortization	$ (10,407)	(10,838)
Loyalty Program | Minimum
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Finite-lived intangible asset, useful life	1 year
Loyalty Program | Maximum
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Finite-lived intangible asset, useful life	3 years
Gaming licenses
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Indefinite intangible assets, excluding goodwill- gross	$ 801,774	877,174
Indefinite intangible assets, useful life	Indefinite
Trade Names-Indefinite
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Indefinite intangible assets, excluding goodwill- gross	$ 105,550	$ 108,250
Indefinite intangible assets, useful life	Indefinite

Other and Intangible Assets, 52

Other and Intangible Assets, Net - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Impairment charges	$ 9,815
Trade Names and Loyalty Program
Trade names and customer loyalty program
Amortization expense	1,600	$ 500
Remainder of 2018	3,500
2,019	4,700
2,020	1,600
Vicksburg’s | Churchill Downs Incorporated
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Impairment charges	$ 9,800

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Income tax (benefit) expense	$ 2,088,000	$ 413,000
Unrecognized Tax Benefits	$ 0	$ 0

Long-Term Debt and Other Long54

Long-Term Debt and Other Long-Term Liabilities - Summary of Long-term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Long-term debt
Less: Unamortized debt issuance costs	$ (8,115)	$ (8,616)
Capital leases	769	917
Long-term notes payable	2,509	2,531
Less: Current portion	(553)	(615)
Long-term debt, noncurrent	2,190,110	2,189,578
6% Senior Notes
Long-term debt
Long-term debt, gross	875,000	875,000
Plus: Unamortized debt premium	25,841	26,605
Less: Unamortized debt issuance costs	(20,152)	(20,716)
Long-term Debt	880,689	880,889
New Term Loan
Long-term debt
Long-term debt, gross	956,750	956,750
Less: Unamortized discount and debt issuance costs	(18,149)	(18,748)
Long-term Debt	938,601	938,002
7% Senior Notes
Long-term debt
Long-term debt, gross	375,000	375,000
Less: Unamortized discount and debt issuance costs	(6,905)	(7,146)
Long-term Debt	$ 368,095	$ 367,854

Long-Term Debt and Other Long55

Long-Term Debt and Other Long-Term Liabilities - Additional Information (Details) - USD ($)	Apr. 16, 2018	Sep. 13, 2017	Apr. 17, 2017	Mar. 29, 2017	Jul. 23, 2015	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	May 01, 2017
Long-term debt
Amortization of deferred financing costs, discount and debt premium						$ 1,300,000	$ 900,000
Scheduled maturities of long-term debt in 2023						375,000,000
Scheduled maturities of long-term debt in 2024						956,800,000
Scheduled maturities of long-term debt in 2025						875,000,000
Property and equipment, net						1,396,286,000		$ 1,502,817,000
Other long-term liabilities						$ 18,594,000		28,579,000
Debt instrument interest rate terms						however, that in no event will LIBOR be less than zero or the base rate be less than 1.00% over the term of the New Term Loan Facility or the New Revolving Credit Facility.
Isle Acquisition
Long-term debt
Acquisition date			May 1, 2017
Lease And Management Agreements [Member] | Nemacolin Woodland Resort
Long-term debt
Property and equipment, net						$ 4,200,000		4,200,000
Other long-term liabilities						2,400,000		4,500,000
Lease And Management Agreements [Member] | Quad-Cities Waterfront Convention Center
Long-term debt
Property and equipment, net						11,800,000		11,900,000
Other long-term liabilities						$ 5,500,000		$ 12,500,000
6% Senior Notes
Long-term debt
Interest rate (as a percent)		6.00%	6.00%	6.00%		6.00%
Long-term debt, gross		$ 500,000,000		$ 375,000,000
Percentage of issue price of principal amount		105.50%
Senior notes, maturity date						Apr. 1, 2025
ESCROW CASH				$ 1,900,000
Debt instrument interest rate terms						The 6% Senior Notes will mature on April 1, 2025, with interest payable semi-annually in arrears on April 1 and October 1, commencing October 1, 2017.
6% Senior Notes | Prior to April 1, 2020
Long-term debt
Redemption price on notes redeemed (as a percent)				106.00%
Percentage of issue price of principal amount				101.00%
Percentage of repurchase				100.00%
6% Senior Notes | Minimum
Long-term debt
Notification period on or after April 1, 2020						30 days
6% Senior Notes | Maximum
Long-term debt
Notification period on or after April 1, 2020						60 days
6% Senior Notes | Maximum | Prior to April 1, 2020
Long-term debt
Redemption price (as a percent)				35.00%
7% Senior Notes
Long-term debt
Interest rate (as a percent)					7.00%
Long-term debt, gross					$ 375,000,000
Senior notes, maturity date						Aug. 1, 2023
7% Senior Notes | Prior to August 1, 2018
Long-term debt
Redemption price on notes redeemed (as a percent)					107.00%
Percentage of issue price of principal amount					101.00%
Percentage of repurchase					100.00%
7% Senior Notes | Prior to April 1, 2020
Long-term debt
Redemption price (as a percent)						101.75%
7% Senior Notes | Maximum | Prior to August 1, 2018
Long-term debt
Redemption price (as a percent)					35.00%
6% Senior Unsecured Notes | JP Morgan Chase Bank, N.A
Long-term debt
Borrowing capacity									$ 375,000,000
Interest rate (as a percent)									6.00%
Notes | Prior to August 1, 2018
Long-term debt
Redemption price on notes redeemed (as a percent)					100.00%
Notes | Prior to April 1, 2020
Long-term debt
Redemption price on notes redeemed (as a percent)				100.00%
Senior Secured Credit Facility | JP Morgan Chase Bank, N.A
Long-term debt
Borrowing capacity									$ 1,750,000,000
New Revolving Credit Facility
Long-term debt
Repayment of credit facility		$ 78,000,000
Credit facility			$ 300,000,000
Commitment fee on unused portion of the credit facility						0.50%
Amount outstanding						$ 0
Available borrowing capacity						$ 291,500,000
Maximum required leverage ratio, year one						650.00%
Maximum required leverage ratio, year two						600.00%
Maximum required leverage ratio, after year two						550.00%
Minimum required interest coverage ratio, year one						200.00%
Minimum required interest coverage ratio, year two						250.00%
Minimum required interest coverage ratio, after year two						275.00%
New Revolving Credit Facility | Tropicana Entertainment Inc | Subsequent Event
Long-term debt
Credit facility	$ 500,000,000
Term of debt	5 years
New Revolving Credit Facility | Minimum | LIBOR
Long-term debt
Spread on variable rate (as a percent)						1.75%
New Revolving Credit Facility | Minimum | Base rate
Long-term debt
Spread on variable rate (as a percent)						0.75%
New Revolving Credit Facility | Maximum | LIBOR
Long-term debt
Spread on variable rate (as a percent)						2.50%
New Revolving Credit Facility | Maximum | Base rate
Long-term debt
Spread on variable rate (as a percent)						1.50%
New Revolving Credit Facility | JP Morgan Chase Bank, N.A
Long-term debt
Borrowing capacity									300,000,000
New Term Loan
Long-term debt
Repayments of term loan plus accrued interest		444,500,000
ESCROW CASH			4,500,000
Credit facility			$ 1,450,000,000
Amount outstanding						$ 956,800,000
Interest rate						3.90%
Credit facility maturity date						Apr. 17, 2024
Credit facility quarterly principal payments						$ 3,600,000
Credit facility, payment terms						The Company was required to make quarterly principal payments in an amount equal to $3.6 million on the New Term Loan Facility on the last day of each fiscal quarter beginning on June 30, 2017 but satisfied this requirement as a result of the principal prepayment of $444.5 million on September 13, 2017 in conjunction with the issuance of the additional 6% Senior Notes
Credit facility principal prepayment		444,500,000
New Term Loan | LIBOR
Long-term debt
Spread on variable rate (as a percent)						2.25%
New Term Loan | Base rate
Long-term debt
Spread on variable rate (as a percent)						1.25%
New Term Loan | JP Morgan Chase Bank, N.A
Long-term debt
Borrowing capacity									$ 1,450,000,000
7% Senior Notes | Minimum
Long-term debt
Notification period on or after August 1, 2018						30 days
7% Senior Notes | Maximum
Long-term debt
Notification period on or after August 1, 2018						60 days
Prior Revolving Credit Facility
Long-term debt
Repayment of credit facility		78,000,000
Credit facility					$ 150,000,000
Term of debt					5 years
Commitment fee on unused portion of the credit facility						0.50%
Prior Revolving Credit Facility | Minimum | LIBOR
Long-term debt
Spread on variable rate (as a percent)						2.50%
Prior Revolving Credit Facility | Minimum | Base rate
Long-term debt
Spread on variable rate (as a percent)						1.50%
Prior Revolving Credit Facility | Maximum | LIBOR
Long-term debt
Spread on variable rate (as a percent)						3.25%
Prior Revolving Credit Facility | Maximum | Base rate
Long-term debt
Spread on variable rate (as a percent)						2.25%
Term Loan
Long-term debt
Repayments of term loan plus accrued interest		$ 444,500,000
Credit facility					$ 425,000,000
Term of debt					7 years
Term Loan | LIBOR
Long-term debt
Spread on variable rate (as a percent)						3.25%
Floor rate (as a percent)						1.00%
Term Loan | Base rate
Long-term debt
Spread on variable rate (as a percent)						2.25%
Letter of Credit
Long-term debt
Amount outstanding						$ 8,500,000

Long-Term Debt and Other Long56

Long-Term Debt and Other Long-Term Liabilities - Schedule of Redemption Prices of Notes (Details)	3 Months Ended
	Mar. 31, 2018
7% Senior Notes | Year Beginning August 1, 2018
Long-term debt
Redemption price (as a percent)	105.25%
7% Senior Notes | Year Beginning August 1, 2019
Long-term debt
Redemption price (as a percent)	103.50%
7% Senior Notes | Year Beginning August 1, 2020
Long-term debt
Redemption price (as a percent)	101.75%
7% Senior Notes | Year Beginning August 1, 2021 and Thereafter
Long-term debt
Redemption price (as a percent)	100.00%
6% Senior Notes | Year Beginning August 1, 2020
Long-term debt
Redemption price (as a percent)	104.50%
6% Senior Notes | Year Beginning April 1, 2021
Long-term debt
Redemption price (as a percent)	103.00%
6% Senior Notes | Year Beginning April 1, 2022
Long-term debt
Redemption price (as a percent)	101.50%
6% Senior Notes | Year Beginning April 1, 2023 and Thereafter
Long-term debt
Redemption price (as a percent)	100.00%

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets Measured at Fair Value on a Recurring Basis (Details) - Fair Value Recurring Basis - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Assets:
Restricted cash and investments	$ 13,521	$ 13,153
Marketable securities	17,236	17,631
Level 1
Assets:
Restricted cash and investments	9,449	9,055
Marketable securities	8,284	7,906
Level 2
Assets:
Restricted cash and investments	4,072	4,098
Marketable securities	$ 8,952	$ 9,725

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details)	3 Months Ended
	Mar. 31, 2018USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value assets, Level 1 to Level 2 transfers amount	$ 0
Fair value assets, Level 2 to Level 1 transfers amount	0
Accounts Receivable
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Concentration Risk, Credit Risk, Financial Instruments	$ 0

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Financial liabilities:
Capital leases	$ 769	$ 917
7% Senior Notes
Financial liabilities:
Long-term debt	368,095	367,854
New Term Loan
Financial liabilities:
Long-term debt	938,601	938,002
Carrying Amount
Financial liabilities:
Capital leases	769	917
Carrying Amount | 7% Senior Notes
Financial liabilities:
Long-term debt	368,095	367,854
Carrying Amount | 6% Senior Notes
Financial liabilities:
Long-term debt	880,689	880,889
Carrying Amount | New Term Loan
Financial liabilities:
Long-term debt	938,601	938,002
Carrying Amount | Other long-term debt
Financial liabilities:
Long-term debt	2,509	2,531
Fair Value
Financial liabilities:
Capital leases	769	917
Fair Value | 7% Senior Notes
Financial liabilities:
Long-term debt	394,687	400,800
Fair Value | 6% Senior Notes
Financial liabilities:
Long-term debt	881,563	914,375
Fair Value | New Term Loan
Financial liabilities:
Long-term debt	959,142	956,750
Fair Value | Other long-term debt
Financial liabilities:
Long-term debt	$ 2,509	$ 2,531

Earnings per Share - Schedule o

Earnings per Share - Schedule of Reconciliation of the Numerators and Denominators of the Basic and Diluted Net Income Per Share Computations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Net income available to common stockholders	$ 20,855	$ 945
Shares outstanding:
Weighted average shares outstanding – basic	77,353,730	47,120,751
Weighted average shares outstanding – diluted	78,080,049	48,081,281
Net income per common share attributable to common stockholders – basic:	$ 0.27	$ 0.02
Net income per common share attributable to common stockholders – diluted:	$ 0.27	$ 0.02
Stock Options
Shares outstanding:
Effect of dilutive securities	152,906	50,799
Restricted Stock Units (RSUs)
Shares outstanding:
Effect of dilutive securities	573,413	909,731

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details)	3 Months Ended
	Mar. 31, 2018
Scioto Downs
Expenses under the terms of the ground lease
Renewal term	2 years
Mountaineer Pari-mutuel Clerks
Expenses under the terms of the ground lease
Renewal term	1 year

Related Affiliates - Additional

Related Affiliates - Additional Information (Details)	3 Months Ended
	Mar. 31, 2018USD ($)aroom	Dec. 31, 2017USD ($)
Related affiliates
Receivable from partnership	$ 62,000	$ 243,000
Payable to partnership	$ 10,000
Other Investors
Related affiliates
Variable interest entity, ownership percentage	42.10%
Number of new rooms developed | room	118
Cash	$ 1,000,000
Land | a	2.4
Cost of hotel construction	$ 16,000,000
Receivable from partnership	62,000
Payable to partnership	$ 10,000
C. S. & Y. Associates
Related affiliates
Area of real property leased | a	30,000
Due from related parties	$ 0	0
Payable to related parties	0	$ 0
Amount paid to related party	$ 150,000

Segment Information - Additiona

Segment Information - Additional Information (Details)	4 Months Ended	11 Months Ended
	Apr. 30, 2017Regionsegment	Mar. 31, 2018segmentitem
Segment Reporting [Abstract]
Number of geographic regions	3	4
Number of reportable segments	3	4

Segment Information - Summary o

Segment Information - Summary of Reportable Segment (Details)	11 Months Ended
	Mar. 31, 2018
West Segment | Eldorado Reno | NEVADA
Segment Reporting Information [Line Items]
Property	Eldorado Reno
State	Nevada
West Segment | Silver Legacy | NEVADA
Segment Reporting Information [Line Items]
Property	Silver Legacy
State	Nevada
West Segment | Circus Reno | NEVADA
Segment Reporting Information [Line Items]
Property	Circus Reno
State	Nevada
West Segment | Isle Black Hawk | COLORADO
Segment Reporting Information [Line Items]
Property	Isle Black Hawk
State	Colorado
West Segment | Lady Luck Black Hawk | COLORADO
Segment Reporting Information [Line Items]
Property	Lady Luck Black Hawk
State	Colorado
Midwest Segment | Waterloo | IOWA
Segment Reporting Information [Line Items]
Property	Waterloo
State	Iowa
Midwest Segment | Bettendorf | IOWA
Segment Reporting Information [Line Items]
Property	Bettendorf
State	Iowa
Midwest Segment | Boonville | MISSOURI
Segment Reporting Information [Line Items]
Property	Boonville
State	Missouri
Midwest Segment | Cape Girardeau | MISSOURI
Segment Reporting Information [Line Items]
Property	Cape Girardeau
State	Missouri
Midwest Segment | Caruthersville | MISSOURI
Segment Reporting Information [Line Items]
Property	Caruthersville
State	Missouri
Midwest Segment | Kansas City | MISSOURI
Segment Reporting Information [Line Items]
Property	Kansas City
State	Missouri
South Segment | Pompano | FLORIDA
Segment Reporting Information [Line Items]
Property	Pompano
State	Florida
South Segment | Eldorado Shreveport | LOUISIANA
Segment Reporting Information [Line Items]
Property	Eldorado Shreveport
State	Louisiana
South Segment | Lake Charles | LOUISIANA
Segment Reporting Information [Line Items]
Property	Lake Charles
State	Louisiana
South Segment | Lula | MISSISSIPPI
Segment Reporting Information [Line Items]
Property	Lula
State	Mississippi
South Segment | Vicksburg | MISSISSIPPI
Segment Reporting Information [Line Items]
Property	Vicksburg
State	Mississippi
East Segment | Presque Isle Downs | PENNSYLVANIA
Segment Reporting Information [Line Items]
Property	Presque Isle Downs
State	Pennsylvania
East Segment | Nemacolin | PENNSYLVANIA
Segment Reporting Information [Line Items]
Property	Nemacolin
State	Pennsylvania
East Segment | Scioto Downs | OHIO
Segment Reporting Information [Line Items]
Property	Scioto Downs
State	Ohio
East Segment | Mountaineer | WEST VIRGINIA
Segment Reporting Information [Line Items]
Property	Mountaineer
State	West Virginia

Segment Information - Schedule

Segment Information - Schedule of Operating Data for Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues and expenses
Net operating revenues	$ 440,192	$ 202,393
Operating (loss) income	54,194	14,028
Unallocated income and expenses:
Interest expense, net	(31,251)	(12,670)
PROVISION FOR INCOME TAXES	(2,088)	(413)
NET INCOME	20,855	945
Operating Segment | West Segment
Revenues and expenses
Net operating revenues	99,579	63,488
Operating (loss) income	10,139	1,355
Operating Segment | Midwest Segment
Revenues and expenses
Net operating revenues	100,795
Operating (loss) income	26,676
Operating Segment | South Segment
Revenues and expenses
Net operating revenues	122,800	32,560
Operating (loss) income	13,359	5,918
Operating Segment | East Segment
Revenues and expenses
Net operating revenues	116,891	106,287
Operating (loss) income	19,131	15,034
Corporate
Revenues and expenses
Net operating revenues	127	58
Operating (loss) income	$ (15,111)	$ (8,279)

Segment Information - Schedul66

Segment Information - Schedule of Capital Expenditures for Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Segment Reporting Information [Line Items]
Capital Expenditures	$ 21,271	$ 6,206
Operating Segment | West Segment
Segment Reporting Information [Line Items]
Capital Expenditures	10,181	4,154
Operating Segment | Midwest Segment
Segment Reporting Information [Line Items]
Capital Expenditures	2,741
Operating Segment | South Segment
Segment Reporting Information [Line Items]
Capital Expenditures	2,883	547
Operating Segment | East Segment
Segment Reporting Information [Line Items]
Capital Expenditures	2,874	1,430
Corporate
Segment Reporting Information [Line Items]
Capital Expenditures	$ 2,592	$ 75

Segment Information - Schedul67

Segment Information - Schedule of Balance Sheet Information for Reportable Segments (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	$ 3,552,220	$ 3,546,472
Goodwill	719,255	747,106
Corporate, Other & Eliminations
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	(927,533)	(910,472)
West Segment
Segment Reporting Asset Reconciling Item [Line Items]
Goodwill	152,762	152,775
West Segment | Operating Segment
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	1,285,898	1,278,062
Midwest Segment
Segment Reporting Asset Reconciling Item [Line Items]
Goodwill	322,745	327,088
Midwest Segment | Operating Segment
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	1,199,909	1,188,758
South Segment
Segment Reporting Asset Reconciling Item [Line Items]
Goodwill	180,044	200,417
South Segment | Operating Segment
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	804,736	804,318
East Segment
Segment Reporting Asset Reconciling Item [Line Items]
Goodwill	63,704	66,826
East Segment | Operating Segment
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	$ 1,189,210	$ 1,185,806

Consolidating Condensed Finan68

Consolidating Condensed Financial Information - Additional Information (Details)	Mar. 31, 2018	Sep. 13, 2017	Apr. 17, 2017	Mar. 29, 2017
7% Senior Notes
Condensed Financial Statements Captions [Line Items]
Interest rate (as a percent)	7.00%
6% Senior Notes
Condensed Financial Statements Captions [Line Items]
Interest rate (as a percent)	6.00%	6.00%	6.00%	6.00%

Consolidating Condensed Finan69

Consolidating Condensed Financial Information - Consolidating Condensed Balance Sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Condensed Balance Sheet
Current assets	$ 475,309	$ 251,032
Property and equipment, net	1,396,286	1,502,817
Other assets	1,680,625	1,792,623
Total assets	3,552,220	3,546,472
Current liabilities	217,290	223,750
Long-term debt, less current maturities	2,190,110	2,189,578
Deferred income tax liabilities	167,595	162,967
Other accrued liabilities	18,594	28,579
Stockholders’ equity	958,631	941,598
Total liabilities and stockholders’ equity	3,552,220	3,546,472
Reportable Legal Entities | Eldorado Resorts, Inc. (Parent Obligor)
Condensed Balance Sheet
Current assets	68,033	27,572
Intercompany receivables	211,587	274,148
Investments in subsidiaries	2,480,728	2,437,287
Property and equipment, net	12,444	12,042
Other assets	47,511	37,458
Total assets	2,820,303	2,788,507
Current liabilities	43,159	28,676
Long-term debt, less current maturities	1,814,801	1,814,185
Other accrued liabilities	3,791	4,127
Stockholders’ equity	958,552	941,519
Total liabilities and stockholders’ equity	2,820,303	2,788,507
Reportable Legal Entities | Guarantor Subsidiaries
Condensed Balance Sheet
Current assets	380,583	201,321
Property and equipment, net	1,375,675	1,483,473
Other assets	1,656,163	1,764,291
Total assets	3,412,421	3,449,085
Current liabilities	151,378	169,348
Intercompany payables	215,636	283,640
Long-term debt, less current maturities	375,000	375,000
Deferred income tax liabilities	213,569	199,376
Other accrued liabilities	12,019	19,624
Stockholders’ equity	2,444,819	2,402,097
Total liabilities and stockholders’ equity	3,412,421	3,449,085
Reportable Legal Entities | Non-Guarantor Subsidiaries
Condensed Balance Sheet
Current assets	26,693	22,139
Intercompany receivables	29,049	34,492
Property and equipment, net	8,167	7,302
Other assets	22,925	27,283
Total assets	86,834	91,216
Current liabilities	22,753	25,726
Intercompany payables	25,000	25,000
Long-term debt, less current maturities	309	393
Other accrued liabilities	2,784	4,828
Stockholders’ equity	35,988	35,269
Total liabilities and stockholders’ equity	86,834	91,216
Consolidating and Eliminating Entries
Condensed Balance Sheet
Intercompany receivables	(240,636)	(308,640)
Investments in subsidiaries	(2,480,728)	(2,437,287)
Other assets	(45,974)	(36,409)
Total assets	(2,767,338)	(2,782,336)
Intercompany payables	(240,636)	(308,640)
Deferred income tax liabilities	(45,974)	(36,409)
Stockholders’ equity	(2,480,728)	(2,437,287)
Total liabilities and stockholders’ equity	$ (2,767,338)	$ (2,782,336)

Consolidating Condensed Finan70

Consolidating Condensed Financial Information - Consolidating Condensed Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues:
Gaming and pari-mutuel commissions	$ 343,528	$ 142,190
Non-gaming	96,664	60,203
Net revenues	440,192	202,393
Operating expenses:
Gaming and pari-mutuel commissions	169,551	81,188
Non-gaming	64,687	41,266
Marketing and promotions	21,301	10,129
General and administrative	74,202	31,800
Corporate	11,569	6,574
Impairment charges	9,815
Depreciation and amortization	31,534	15,604
Total operating expenses	382,659	186,561
Loss on sale of asset or disposal of property and equipment	(706)	32
Transaction expenses	(2,548)	(1,614)
Equity in loss of unconsolidated affiliate	(85)	(222)
OPERATING INCOME	54,194	14,028
Interest expense, net	(31,251)	(12,670)
NET INCOME BEFORE INCOME TAXES	22,943	1,358
Income tax benefit (provision)	(2,088)	(413)
NET INCOME	20,855	945
Reportable Legal Entities | Eldorado Resorts, Inc. (Parent Obligor)
Operating expenses:
Corporate	10,294	6,574
Management fee	(5,137)	(6,574)
Depreciation and amortization	772	149
Total operating expenses	5,929	149
Transaction expenses	(2,118)	(1,614)
OPERATING INCOME	(8,047)	(1,763)
Interest expense, net	(24,432)	(6,089)
Subsidiary income (loss)	43,305	9,255
NET INCOME BEFORE INCOME TAXES	10,826	1,403
Income tax benefit (provision)	10,029	(458)
NET INCOME	20,855	945
Reportable Legal Entities | Guarantor Subsidiaries
Revenues:
Gaming and pari-mutuel commissions	335,793	142,185
Non-gaming	94,023	60,145
Net revenues	429,816	202,330
Operating expenses:
Gaming and pari-mutuel commissions	164,303	81,188
Non-gaming	63,975	41,266
Marketing and promotions	20,835	10,125
General and administrative	72,427	31,800
Corporate	322
Impairment charges	9,815
Management fee	5,137	6,574
Depreciation and amortization	30,601	15,455
Total operating expenses	367,415	186,408
Loss on sale of asset or disposal of property and equipment	(706)	32
Transaction expenses	(430)
Equity in loss of unconsolidated affiliate	(85)	(222)
OPERATING INCOME	61,180	15,732
Interest expense, net	(6,286)	(6,581)
NET INCOME BEFORE INCOME TAXES	54,894	9,151
Income tax benefit (provision)	(12,303)	45
NET INCOME	42,591	9,196
Reportable Legal Entities | Non-Guarantor Subsidiaries
Revenues:
Gaming and pari-mutuel commissions	7,735	5
Non-gaming	2,641	58
Net revenues	10,376	63
Operating expenses:
Gaming and pari-mutuel commissions	5,248
Non-gaming	712
Marketing and promotions	466	4
General and administrative	1,775
Corporate	953
Depreciation and amortization	161
Total operating expenses	9,315	4
OPERATING INCOME	1,061	59
Interest expense, net	(533)
NET INCOME BEFORE INCOME TAXES	528	59
Income tax benefit (provision)	186
NET INCOME	714	59
Consolidating and Eliminating Entries
Operating expenses:
Subsidiary income (loss)	(43,305)	(9,255)
NET INCOME BEFORE INCOME TAXES	(43,305)	(9,255)
NET INCOME	$ (43,305)	$ (9,255)

Consolidating Condensed Finan71

Consolidating Condensed Financial Information - Consolidating Condensed Statement of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
Condensed Statement of Cash Flows
Net cash (used in) provided by operating activities	$ 78,007	$ 5,183
INVESTING ACTIVITIES:
Purchase of property and equipment, net	(21,271)	(6,206)
Proceeds from sale of property and equipment	150	32
(Decrease) increase in other assets, net		(148)
Cash escrow related to acquisition		(376,750)
Net cash used in investing activities	(21,121)	(383,072)
FINANCING ACTIVITIES:
Payment of other long-term obligation	(22)
Payments on capital leases	(148)	(94)
Debt issuance costs	(304)	(7,016)
Taxes paid related to net share settlement of equity awards	(7,502)	(179)
Proceeds from exercise of stock options		434
Net cash (used in) provided by financing activities	(7,976)	361,082
INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	48,910	(16,807)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR	147,749	63,443
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD	196,659	46,636
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO AMOUNTS REPORTED WITHIN THE CONDENSED CONSOLIDATED BALANCE SHEETS:
Cash and cash equivalents			$ 183,138	$ 134,596	$ 44,574
Restricted cash			3,659	3,267	2,062
Restricted cash included in other noncurrent assets			9,862
TOTAL CASH, CASH EQUIVALENTS AND RESTRICTED CASH	147,749	63,443	196,659	147,749	46,636
6% Senior Notes
FINANCING ACTIVITIES:
Proceeds from issuance of 6% Senior Notes		375,000
Term Loan
FINANCING ACTIVITIES:
Payments under Term Loan		(1,063)
Prior Revolving Credit Facility
FINANCING ACTIVITIES:
Borrowings under Revolving Credit Facility		23,000
Payments under Revolving Credit Facility		(29,000)
Reportable Legal Entities | Eldorado Resorts, Inc. (Parent Obligor)
Condensed Statement of Cash Flows
Net cash (used in) provided by operating activities	(7,128)	(2,768)
INVESTING ACTIVITIES:
Purchase of property and equipment, net	(1,233)	(151)
(Decrease) increase in other assets, net		(565)
Cash escrow related to acquisition		(376,750)
Net cash used in investing activities	(1,233)	(377,466)
FINANCING ACTIVITIES:
Net proceeds from (payments to) related parties	62,560	18,746
Payment of other long-term obligation	(22)
Debt issuance costs	(304)	(7,016)
Taxes paid related to net share settlement of equity awards	(7,502)	(179)
Proceeds from exercise of stock options		434
Net cash (used in) provided by financing activities	54,732	379,922
INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	46,371	(312)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR	13,836	1,409
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD	60,207	1,097
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO AMOUNTS REPORTED WITHIN THE CONDENSED CONSOLIDATED BALANCE SHEETS:
Cash and cash equivalents			59,490		419
Restricted cash			717		678
TOTAL CASH, CASH EQUIVALENTS AND RESTRICTED CASH	13,836	1,409	60,207	13,836	1,097
Reportable Legal Entities | Eldorado Resorts, Inc. (Parent Obligor) | 6% Senior Notes
FINANCING ACTIVITIES:
Proceeds from issuance of 6% Senior Notes		375,000
Reportable Legal Entities | Eldorado Resorts, Inc. (Parent Obligor) | Term Loan
FINANCING ACTIVITIES:
Payments under Term Loan		(1,063)
Reportable Legal Entities | Eldorado Resorts, Inc. (Parent Obligor) | Prior Revolving Credit Facility
FINANCING ACTIVITIES:
Borrowings under Revolving Credit Facility		23,000
Payments under Revolving Credit Facility		(29,000)
Reportable Legal Entities | Guarantor Subsidiaries
Condensed Statement of Cash Flows
Net cash (used in) provided by operating activities	87,253	7,862
INVESTING ACTIVITIES:
Purchase of property and equipment, net	(19,011)	(6,055)
Proceeds from sale of property and equipment	150	32
(Decrease) increase in other assets, net		417
Net cash used in investing activities	(18,861)	(5,606)
FINANCING ACTIVITIES:
Net proceeds from (payments to) related parties	(66,660)	(18,634)
Payments on capital leases	(78)	(94)
Net cash (used in) provided by financing activities	(66,738)	(18,728)
INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	1,654	(16,472)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR	118,483	61,702
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD	120,137	45,230
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO AMOUNTS REPORTED WITHIN THE CONDENSED CONSOLIDATED BALANCE SHEETS:
Cash and cash equivalents			116,394		43,846
Restricted cash			2,743		1,384
Restricted cash included in other noncurrent assets			1,000
TOTAL CASH, CASH EQUIVALENTS AND RESTRICTED CASH	118,483	61,702	120,137	118,483	45,230
Reportable Legal Entities | Non-Guarantor Subsidiaries
Condensed Statement of Cash Flows
Net cash (used in) provided by operating activities	(2,118)	89
INVESTING ACTIVITIES:
Purchase of property and equipment, net	(1,027)
Net cash used in investing activities	(1,027)
FINANCING ACTIVITIES:
Net proceeds from (payments to) related parties	4,100	(112)
Payments on capital leases	(70)
Net cash (used in) provided by financing activities	4,030	(112)
INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	885	(23)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF YEAR	15,430	332
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD	16,315	309
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO AMOUNTS REPORTED WITHIN THE CONDENSED CONSOLIDATED BALANCE SHEETS:
Cash and cash equivalents			7,254		309
Restricted cash			199
Restricted cash included in other noncurrent assets			8,862
TOTAL CASH, CASH EQUIVALENTS AND RESTRICTED CASH	$ 15,430	$ 332	$ 16,315	$ 15,430	$ 309

Pending Acquisitions - Addition

Pending Acquisitions - Additional Information (Details) - USD ($)	Apr. 16, 2018	Mar. 31, 2018	Apr. 17, 2017
New Revolving Credit Facility
Business Acquisition [Line Items]
Credit facility			$ 300,000,000
Grand Victoria Casino
Business Acquisition [Line Items]
Business acquisition, transaction costs		$ 600,000
Business acquisition, accrued costs and expenses		400,000
Tropicana Entertainment Inc
Business Acquisition [Line Items]
Business acquisition, transaction costs		1,000,000
Business acquisition, accrued costs and expenses		$ 800,000
Subsequent Event | Grand Victoria Casino
Business Acquisition [Line Items]
Business acquisition, consideration payable	$ 327,500,000
Subsequent Event | Tropicana Entertainment Inc
Business Acquisition [Line Items]
Business acquisition, consideration payable	1,850,000,000
Subsequent Event | Tropicana Entertainment Inc | Committed debt financing
Business Acquisition [Line Items]
Business acquisition, consideration payable	600,000,000
Subsequent Event | Tropicana Entertainment Inc | New Revolving Credit Facility
Business Acquisition [Line Items]
Credit facility	$ 500,000,000
Term of debt	5 years
Subsequent Event | Tropicana Entertainment Inc | Gaming and Leisure Properties
Business Acquisition [Line Items]
Business acquisition, consideration payable	$ 1,210,000,000
Subsequent Event | Tropicana Entertainment Inc | Gaming and Leisure Properties | Master lease
Business Acquisition [Line Items]
Business acquisition, consideration payable	$ 640,000,000
Acquired lease properties, initial term	15 years
Acquired lease properties, renewal term	20 years
Expected initial annual rent expense	$ 110,000,000