Caesars Entertainment (CZR) 10-Q 11 May 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2020	May 06, 2020
Cover [Abstract]
Entity Registrant Name	ELDORADO RESORTS, INC.
Entity Central Index Key	0001590895
Document Type	10-Q
Document Period End Date	Mar. 31, 2020
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		77,816,973
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Trading Symbol	ERI
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity File Number	001-36629
Entity Tax Identification Number	46-3657681
Entity Address, Address Line One	100 West Liberty Street
Entity Address, Address Line Two	Suite 1150
Entity Address, City or Town	Reno
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89501
City Area Code	775
Local Phone Number	328‑0100
Entity Incorporation, State or Country Code	NV
Document Quarterly Report	true
Document Transition Report	false
Title of 12(b) Security	Common Stock, $.00001 par value
Security Exchange Name	NASDAQ

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
CURRENT ASSETS:
Cash and cash equivalents	$ 671,747	$ 206,317
Restricted cash and investments	7,613	3,507
Marketable securities	31,385	34,634
Accounts receivable, net	43,693	53,899
Due from affiliates	696	3,806
Inventories	17,070	18,379
Prepaid expenses	27,741	30,966
Assets held for sale	442,461	253,135
Total current assets	1,242,406	604,643
Investment in and advances to unconsolidated affiliates	135,898	135,828
Property and equipment, net	2,455,332	2,614,524
Gaming licenses and other intangibles, net	1,063,169	1,111,398
Goodwill	810,187	909,717
Right-of-use assets	129,889	188,219
Other assets, net	54,291	76,224
Total assets	5,891,172	5,640,553
CURRENT LIABILITIES:
Current portion of long-term debt	246,109	246,175
Accounts payable	46,514	61,951
Accrued property, gaming and other taxes	29,891	43,050
Accrued payroll and related	65,246	62,337
Accrued interest	35,462	36,480
Income taxes payable	44,727	23,898
Short-term lease obligation	14,157	19,991
Accrued other liabilities	157,230	157,079
Liabilities related to assets held for sale	131,672	37,485
Total current liabilities	771,008	688,446
Long-term financing obligation to GLPI	973,122	970,519
Long-term debt, less current portion	2,780,691	2,324,541
Deferred income taxes	158,134	197,266
Long-term lease obligation	99,449	176,932
Other long-term liabilities	168,559	165,592
Total liabilities	4,950,963	4,523,296
Commitments and contingencies (Note 13)
STOCKHOLDERS' EQUITY:
Common stock, 200,000,000 shares authorized, 77,802,894 and 77,569,117 issued and outstanding, net of treasury shares, par value $0.00001 as of March 31, 2020 and December 31, 2019, respectively	1	1
Paid-in capital	758,137	759,547
Retained earnings	190,825	366,463
Treasury stock at cost, 223,823 shares held at March 31, 2020 and December 31, 2019	(9,131)	(9,131)
Accumulated other comprehensive income	377	377
Total stockholders’ equity	940,209	1,117,257
Total liabilities and stockholders’ equity	$ 5,891,172	$ 5,640,553

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	77,802,894	77,569,117
Common stock, shares outstanding	77,802,894	77,569,117
Common stock, par value	$ 0.00001	$ 0.00001
Treasury stock, shares	223,823	223,823

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
REVENUES:
Net revenues	$ 473,069	$ 635,823
EXPENSES:
Other	9,181	11,249
Marketing and promotions	24,953	32,301
General and administrative	91,675	119,888
Corporate	16,482	16,754
Impairment charges	160,758	958
Depreciation and amortization	50,433	57,757
Total operating expenses	588,161	533,248
Gain on sale or disposal of property and equipment	1,458	22,318
Transaction expenses	(9,294)	(1,894)
(Loss) income from unconsolidated affiliates	(252)	605
Operating (loss) income	(123,180)	123,604
OTHER EXPENSE:
Interest expense, net	(66,464)	(73,510)
Loss on extinguishment of debt	(158)
Unrealized loss on investments and marketable securities	(23,008)	(1,460)
Total other expense	(89,630)	(74,970)
(Loss) income before income taxes	(212,810)	48,634
Benefit (provision) for income taxes	37,172	(10,405)
Net (loss) income	$ (175,638)	$ 38,229
Net (loss) income per share of common stock:
Basic	$ (2.25)	$ 0.49
Diluted	$ (2.25)	$ 0.49
Weighted average number of shares outstanding:
Weighted average basic shares outstanding	77,954,038	77,567,147
Weighted average diluted shares outstanding	77,954,038	78,589,110
Casino and pari-mutuel Commissions
REVENUES:
Net revenues	$ 339,749	$ 470,686
EXPENSES:
Cost of goods and services	159,156	210,306
Food and Beverage
REVENUES:
Net revenues	56,246	75,281
EXPENSES:
Cost of goods and services	53,255	60,385
Hotel
REVENUES:
Net revenues	48,376	64,784
EXPENSES:
Cost of goods and services	22,268	23,650
Other
REVENUES:
Net revenues	$ 28,698	$ 25,072

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net (loss) income	$ (175,638)	$ 38,229
Comprehensive (loss) income, net of tax	$ (175,638)	$ 38,229

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income	Treasury Stock
Beginning Balance at Dec. 31, 2018	$ 1,029,153	$ 1	$ 748,076	$ 290,206	$ 1	$ (9,131)
Beginning Balance (in shares) at Dec. 31, 2018		77,438,889				223,823
Cumulative change in accounting principle, net of tax	(4,744)			(4,744)
Issuance of restricted stock units	4,948		4,948
Issuance of restricted stock units (in shares)		330,641
Net income (loss)	38,229			38,229
Shares withheld related to net share settlement of stock awards	(4,322)		(4,322)
Shares withheld related to net share settlement of stock awards (in shares)		(106,542)
Ending Balance at Mar. 31, 2019	1,063,264	$ 1	748,702	323,691	1	$ (9,131)
Ending Balance (in shares) at Mar. 31, 2019		77,662,988				223,823
Beginning Balance at Dec. 31, 2019	1,117,257	$ 1	759,547	366,463	377	$ (9,131)
Beginning Balance (in shares) at Dec. 31, 2019		77,792,940				223,823
Issuance of restricted stock units	5,742		5,742
Issuance of restricted stock units (in shares)		356,367
Net income (loss)	(175,638)			(175,638)
Shares withheld related to net share settlement of stock awards	(7,152)		(7,152)
Shares withheld related to net share settlement of stock awards (in shares)		(122,590)
Ending Balance at Mar. 31, 2020	$ 940,209	$ 1	$ 758,137	$ 190,825	$ 377	$ (9,131)
Ending Balance (in shares) at Mar. 31, 2020		78,026,717				223,823

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (175,638)	$ 38,229
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	50,433	57,757
Amortization of deferred financing costs, discount and debt premium	4,187	4,547
Deferred revenue	(1,889)	(1,397)
Equity in loss (gain) of unconsolidated affiliates	252	(605)
Loss on extinguishment of debt	158
Lease amortization	855	675
Unrealized loss on investments	23,008	1,460
Stock compensation expense	5,742	4,948
Gain on sale or disposal of property and equipment	(1,458)	(22,318)
Impairment charges	160,758	958
(Benefit) provision for deferred income taxes	(39,130)	5,224
Other	360	145
Change in operating assets and liabilities:
Accounts receivable	8,603	(3,933)
Prepaid expenses and other assets	589	14,331
Income taxes payable	20,829	(26,398)
Accounts payable and accrued other liabilities	(27,135)	(8,183)
Net cash provided by operating activities	30,524	65,440
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment, net	(23,201)	(38,360)
Purchase of restricted investments	(82)	(80)
Deposits and proceeds from sale of businesses, property and equipment, net of cash sold	10,515	167,945
Investment in and loans to unconsolidated affiliates	(321)
Net cash (used in) provided by investing activities	(13,089)	129,505
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments under Revolving Credit Facility		(205,000)
Borrowings under Revolving Credit Facility	465,000
Payments on Term Loan	(10,000)
Debt issuance costs		(386)
Taxes paid related to net share settlement of equity awards	(7,152)	(4,322)
Payments on other long-term payables	(109)	(118)
Net cash provided by (used in) financing activities	447,739	(209,826)
Increase (decrease) in cash, cash equivalents and restricted cash	465,174	(14,881)
Cash, cash equivalents and restricted cash, beginning of period	216,578	246,691
Cash, cash equivalents and restricted cash, end of period	681,752	231,810
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO AMOUNTS REPORTED WITHIN THE CONDENSED CONSOLIDATED BALANCE SHEETS:
Cash and cash equivalents	671,747	216,883
Restricted cash	3,567	7,892
Restricted and escrow cash included in other noncurrent assets	6,438	7,035
Cash, cash equivalents and restricted cash, end of period	681,752	231,810
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest paid	63,527	62,885
Income taxes (refunded) paid, net	(16,141)	38,898
NON-CASH FINANCING ACTIVITIES:
Payables for capital expenditures	$ 15,957	$ 10,676

Organization and Basis of Prese

Organization and Basis of Presentation	3 Months Ended
	Mar. 31, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization and Basis of Presentation	Note 1. Organization and Basis of Presentation Organization The accompanying consolidated financial statements include the accounts of Eldorado Resorts, Inc. (“ERI” or the “Company”), a Nevada corporation formed in September 2013, and its consolidated subsidiaries. The Company is a geographically diversified gaming and hospitality company with 23 gaming facilities in 11 states as of March 31, 2020. The Company’s properties, which are located in Colorado, Florida, Illinois, Indiana, Iowa, Mississippi, Missouri, Louisiana, Nevada, New Jersey and Ohio, feature approximately 23,900 slot machines, video lottery terminals (“VLTs”) and e-tables, approximately 660 table games and approximately 11,300 hotel rooms. The Company’s primary source of revenue is generated by gaming operations , and the Company utilizes its hotels, restaurants, bars, entertainment, racing, sportsbook offerings, retail shops and other services to attract customers to its properties . The Company was founded in 1973 by the Carano family with the opening of the Eldorado Hotel Casino in Reno, Nevada. In 1993, the Company partnered with MGM Resorts International to build Silver Legacy Resort Casino, the first mega-themed resort in Reno. In 2005, the Company acquired its first property outside of Reno when it purchased a casino in Shreveport, Louisiana, now known as Eldorado Shreveport. In September 2014, the Company merged with MTR Gaming Group, Inc. and acquired gaming and racing facilities in Ohio, Pennsylvania and West Virginia. The following year, in November 2015, the Company acquired Circus Circus Reno (“Circus Reno”) and the 50% membership interest in the Silver Legacy that was owned by MGM Resorts International. On May 1, 2017, the Company completed its acquisition of Isle of Capri Casinos, Inc. (“Isle” or “Isle of Capri”), adding 13 gaming properties to its portfolio (the “Isle Acquisition”) . On August 7, 2018, the Company acquired the Elgin Riverboat Resort – Riverboat Casino d/b/a Grand Victoria Casino (“Elgin”) (the “Elgin Acquisition”). On October 1, 2018, the Company completed its acquisition of Tropicana Entertainment, Inc. (“Tropicana”), adding seven properties to its portfolio (the “Tropicana Acquisition”). On January 11, 2019 and March 8, 2019, respectively, the Company completed its sales of Presque Isle Downs & Casino (“Presque”) and Lady Luck Casino Nemacolin (“Nemacolin”), which are both located in Pennsylvania. On December 6, 2019, the Company completed its sales of Mountaineer Casino, Racetrack and Resort (“Mountaineer”), Isle Casino Cape Girardeau (“Cape Girardeau”) and Lady Luck Casino Caruthersville (“Caruthersville”). Mountaineer is located in West Virginia and Cape Girardeau and Caruthersville are located in Missouri. On June 24, 2019, the Company entered into an Agreement and Plan of Merger (as amended by Amendment No. 1 to Agreement and Plan of Merger, dated as of August 15, 2019, and as it may be further amended from time to time, the “Merger Agreement”) with Caesars Entertainment Corporation (“Caesars”) pursuant to which a wholly-owned subsidiary of the Company will merge In connection with the execution of the Merger Agreement, the Company also entered into a Master Transaction Agreement (the “MTA”) with VICI Properties L.P., a Delaware limited partnership (“VICI”), pursuant to which, among other things, the Company has agreed to consummate one or more sale and leaseback transactions with VICI and/or its affiliates with respect to certain property described in the MTA. Consummation of the Merger is subject to the satisfaction or waiver of certain conditions, including anti-trust and regulatory approvals. The Company expects that the Merger will be consummated in mid-2020. On July 10, 2019, the Company entered into a definitive agreement to sell the equity interests of Rainbow Casino Vicksburg Partnership, L.P. and IOC-Kansas City, L.L.C., the entities that hold Lady Luck Casino Vicksburg and Isle of Capri Casino Kansas City, to Twin River Worldwide Holdings, Inc. (“Twin River”). The definitive agreement provides that the consummation of the sale is subject to satisfaction of customary conditions, including receipt of required regulatory approvals. The transaction is expected to be consummated in the second quarter of 2020. See Note 4. On January 13, 2020 and March 9, 2020, respectively, the Company entered into definitive purchase agreements to sell the equity interests of Eldorado Resort Casino Shreveport Joint Venture and Columbia Properties Tahoe, LLC, the entities that hold Eldorado Shreveport and MontBleu, to Maverick Gaming LLC (“Maverick”). On April 24, 2020, the agreements with Maverick were terminated and the Company entered into a definitive purchase agreement with Twin River Worldwide Holdings, Inc. and certain of its affiliates for the sale of for aggregate consideration of $155 million, subject to a working capital adjustment. , and further provides that the Company’s obligation to consummate the sale is subject to the closing of the Merger with Caesars and the buyer’s obligation to consummate the sale is subject to receipt of financing sufficient to enable it to pay the consideration due at closing. The transaction is expected to close in the first quarter of 2021 The following table sets forth certain information regarding our properties (listed by segment in which each property is reported) as of March 31, 2020: Segment Property Date Acquired State West Eldorado Resort Casino Reno ("Eldorado Reno") (a) Nevada Silver Legacy Resort Casino ("Silver Legacy") (a) Nevada Circus Circus Reno ("Circus Reno") (a) Nevada MontBleu Casino Resort & Spa ("MontBleu") October 1, 2018 (c) Nevada Tropicana Laughlin Hotel & Casino ("Laughlin") October 1, 2018 Nevada Isle Casino Hotel - Blackhawk ("Isle Black Hawk") May 1, 2017 Colorado Lady Luck Casino - Black Hawk ("Lady Luck Black Hawk") May 1, 2017 Colorado Midwest (b) Isle Casino Waterloo ("Waterloo") May 1, 2017 Iowa Isle Casino Bettendorf ("Bettendorf") May 1, 2017 Iowa Isle of Capri Casino Boonville ("Boonville") May 1, 2017 Missouri Isle of Capri Casino Kansas City ("Kansas City") May 1, 2017 (c) Missouri South Isle Casino Racing Pompano Park ("Pompano") May 1, 2017 Florida Eldorado Resort Casino Shreveport ("Eldorado Shreveport") (a) (c) Louisiana Isle of Capri Casino Hotel Lake Charles ("Lake Charles") May 1, 2017 Louisiana Belle of Baton Rouge Casino & Hotel ("Baton Rouge") October 1, 2018 Louisiana Isle of Capri Casino Lula ("Lula") May 1, 2017 Mississippi Lady Luck Casino Vicksburg ("Vicksburg") May 1, 2017 (c) Mississippi Trop Casino Greenville ("Greenville") October 1, 2018 Mississippi East (b) Eldorado Gaming Scioto Downs ("Scioto Downs") (a) Ohio Tropicana Casino and Resort, Atlantic City ("Trop AC") October 1, 2018 New Jersey Central Grand Victoria Casino ("Elgin") August 7, 2018 Illinois Lumière Place Casino ("Lumière") October 1, 2018 Missouri Tropicana Evansville ("Evansville") October 1, 2018 Indiana (a) Property was aggregated into segment prior to January 1, 2016. (b) Presque was sold on January 11, 2019, Nemacolin was sold on March 8, 2019 and Mountaineer was sold on December 6, 2019. All three properties were previously reported in the East segment. Cape Girardeau and Caruthersville were sold on December 6, 2019. Both properties were previously reported in the Midwest segment. (c) The Company entered into agreements to sell Kansas City, Vicksburg, Eldorado Shreveport and MontBleu. The Kansas City and Vicksburg sales are expected to close in the second quarter of 2020. The Eldorado Shreveport and MontBleu sales are expected to close in the first quarter of 2021. 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. The results of operations for these interim periods are not necessarily indicative of the operating results for other quarters, for the full year or any future period. The executive decision maker of our Company reviews operating results, assesses performance and makes decisions on a “significant market” basis. Management views each of our casinos as an operating segment. Operating segments are aggregated based on their similar economic characteristics, types of customers, types of services and products provided, and their management and reporting structure. The Company’s principal operating activities occur in five geographic regions and reportable segments. The reportable segments are based on the similar characteristics of the operating segments within the regions in which they operate: West, Midwest, South, East, and Central. See the table above for a listing of properties included in each segment. The presentation of financial information herein for periods after the Company’s sales of Presque and Nemacolin on January 11, 2019 and March 8, 2019, respectively, and the Company’s sales of Mountaineer, Cape Girardeau and Caruthersville on December 6, 2019 are not fully comparable to the periods prior to their respective sale dates. See Note 4. These unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. Recent Developments Related to COVID-19 In January 2020, an outbreak of a new strain of coronavirus (“COVID-19”) was identified and has since spread throughout much of the world, including the United States. All of the Company’s casino properties have been temporarily closed since March 18, 2020 due to orders issued by various state government agencies in connection with the COVID-19 pandemic. As a result of these closures, the COVID-19 pandemic has had an adverse effect on the Company’s business, financial condition and results of operations for the three months ended March 31, 2020. The Company continued to pay its full-time employees through April 10, 2020, including tips and tokes. Effective April 11, 2020, the Company furloughed approximately 90% of its employees, implemented salary reductions and committed to continue to provide benefits to its employees through June 30, 2020. As a result of these payroll changes combined with other cost saving measures, the Company’s daily operating expenses reduced significantly. In an effort to maintain liquidity and provide financial flexibility as the effects of COVID-19 continue to evolve and impact global financial markets, the Company borrowed $465 million under its revolving credit facility on March 16, 2020. The extent of the ongoing and future effects of the COVID-19 pandemic on the Company’s business and the casino resort industry generally is uncertain, but the Company expects that it will continue to have a significant impact on its business, results of operations and financial condition. The extent and duration of the impact of COVID-19 will ultimately depend on future developments, including but not limited to, the duration and severity of the outbreak, the length of time that the Company’s casinos remain closed, the Company’s ability to adapt to new operating procedures upon re-opening of its casinos, the impact on consumer demand and discretionary spending, the length of time it takes for demand to return and the Company’s ability to adjust its cost structures for the duration of the outbreak’s impact on its operations. Due to declines in recent performance and the expected impact on future cash flows as a result of COVID-19, the Company recognized impairment charges related to goodwill and trade names for the three months ended March 31, 2020. See Note 7 for details. Recently Issued Accounting Pronouncements Pronouncements Implemented in 2020 In June 2016 (modified in November 2018), the Financial Accounting Standards Board (“FASB”) issued ASU No 2016-13, Financial Instruments – Credit Losses related to the timing of recognizing impairment losses on financial assets. The new guidance lowers the threshold on when losses are incurred, from a determination that a loss is probable to a determination that a loss is expected. The change in guidance is applicable to our evaluation of the Casino Reinvestment Development Authority (“CRDA”) investments. The guidance is effective for interim and annual periods beginning after December 15, 2019. Adoption of the guidance required a modified-retrospective approach and a cumulative adjustment to retained earnings to the first reporting period that the update is effective. The Company adopted the new guidance on January 1, 2020. Adoption of this guidance did not have a material impact on the Company’s Consolidated Financial Statements. In August 2018, the FASB issued ASU 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract. This amendment aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal use software license). This generally means that an intangible asset is recognized for the software license and, to the extent that the payments attributable to the software license are made over time, a liability also is recognized. If a cloud computing arrangement does not include a software license, the entity should account for the arrangement as a service contract. This generally means that the fees associated with the hosting element (service) of the arrangement are expensed as incurred. The amendment was effective for annual and interim periods beginning after December 15, 2019. The Company adopted the new guidance on January 1, 2020. Adoption of this guidance did not have a material impact on the Company’s Consolidated Financial Statements. In August 2018, the FASB issued ASU 2018-13, Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement. This amendment modifies the disclosure requirements for fair value measurements and was effective for annual and interim periods beginning after December 15, 2019. The Company adopted the new guidance on January 1, 2020. Adoption of this guidance did not have a material impact on the Company’s Consolidated Financial Statements. Pronouncements To Be Implemented In Future Periods In August 2018, the FASB issued ASU No 2018-14, Compensation –Retirement Benefits – Defined Benefit Plans – General. This amendment improves disclosures over defined benefit plans and is effective for interim and annual periods ending after December 15, 2020 with early adoption allowed. The Company anticipates adopting this amendment during the first quarter of 2021, and currently does not expect it to have a significant impact on its Consolidated Financial Statements. In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes. This amendment modifies accounting guidelines for income taxes and is effective for annual and interim periods beginning after December 15, 2020 with early adoption allowed. The Company will adopt the new guidance on January 1, 2021. The Company is evaluating the qualitative and quantitative effect the new guidance will have on its Consolidated Financial Statements.

Leases

Leases	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Leases	Note 2. Leases The Company has operating and finance leases for various real estate and equipment. Certain of the Company’s lease agreements include rental payments based on a percentage of sales over specified contractual amounts, rental payments adjusted periodically for inflation and rental payments based on usage. The Company’s leases include options to extend the lease term one month to 60 years. Except for the Master Lease with GLP Capital, L.P., the operating partnership of Gaming and Leisure Properties, Inc. (“GLPI”), (see Note 9), the Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. The components of lease expense are as follows (in thousands): Classification on the Three Months Ended Three Months Ended Statement of Operations March 31, 2020 March 31, 2019 Operating lease expense: Operating lease expense Operating expense $ 4,448 $ 4,052 Short-term and variable lease expense Operating expense 8,804 11,814 Finance lease expense: Interest expense on lease liabilities Interest expense, net 24,821 24,603 Amortization of ROU assets Depreciation and amortization expense 4,089 2,511 Total lease expense $ 42,162 $ 42,980 Supplemental cash flow information related to leases is as follows (in thousands): Three Months Ended Three Months Ended March 31, 2020 March 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 5,246 $ 5,248 Operating cash flows for finance leases $ 22,298 $ 22,029 In addition to the payments made for operating leases noted above, the Company paid $8.8 million and $11.8 million in short-term and variable leases for the three months ended March 31, 2020 and 2019, respectively.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2020
Revenue From Contract With Customer [Abstract]
Revenue Recognition	Note 3. Revenue Recognition The Company recognizes as casino revenue the net win from gaming activities, which is the difference between gaming wins and losses, not the total amount wagered. Progressive jackpots are accrued and charged to revenue at the time the obligation to pay the jackpot is established. Gaming revenues are recognized net of certain cash and free play incentives. Pari-mutuel commissions consist of commissions earned from thoroughbred and harness racing and importing of simulcast signals from other race tracks and are recognized at the time wagers are made. Such commissions are a designated portion of the wagering handle as determined by state racing commissions and are shown net of the taxes assessed by state and local agencies, as well as purses and other contractual amounts paid to horsemen associations. The Company recognizes revenues from fees earned through the exporting of simulcast signals to other race tracks at the time wagers are made and recorded on a gross basis. Such fees are based upon a predetermined percentage of handle as contracted with the other race tracks. The Company’s consolidated statement of operations presents net revenue disaggregated by type or nature of the good or service. A summary of net revenues disaggregated by type of revenue and reportable segment is presented below (amounts in thousands). Refer to Notes 1 and 15 for additional information on the Company’s reportable segments. Three Months Ended March 31, 2020 West Midwest South East Central Corporate and Other Total Casino $ 44,977 $ 53,313 $ 79,652 $ 79,931 $ 81,876 $ — $ 339,749 Food and beverage 23,583 3,399 10,651 9,464 9,149 — 56,246 Hotel 21,845 2,544 4,934 13,560 5,493 — 48,376 Other 15,085 1,537 1,815 5,101 3,187 1,973 28,698 Net revenues $ 105,490 $ 60,793 $ 97,052 $ 108,056 $ 99,705 $ 1,973 $ 473,069 Three Months Ended March 31, 2019 West Midwest South East Central Corporate and Other Total Casino $ 53,406 $ 85,169 $ 109,350 $ 124,951 $ 97,810 $ — $ 470,686 Food and beverage 27,978 6,087 14,709 14,721 11,786 — 75,281 Hotel 27,508 3,622 6,337 19,997 7,320 — 64,784 Other 9,203 1,909 2,318 6,564 3,556 1,522 25,072 Net revenues $ 118,095 $ 96,787 $ 132,714 $ 166,233 $ 120,472 $ 1,522 $ 635,823 Contract and Contract Related Liabilities The Company records contract or contract-related liabilities related to differences between the timing of cash receipts from the customer and the recognition of revenue. The Company generally has three types of liabilities related to contracts with customers: (1) outstanding chip liability, which represents the amounts owed in exchange for gaming chips held by a customer, (2) player loyalty program obligations, which represents the deferred allocation of revenue relating to player loyalty program incentives earned, and (3) customer deposits and other deferred revenue, which is primarily funds deposited by customers related to gaming play, advance payments on goods and services yet to be provided (such as advance ticket sales and deposits on rooms and convention space or for unpaid wagers), and deferred revenues associated with the Company’s interests in William Hill (see Note 6) and The Stars Group (“TSG”). Except for deferred revenues related to William Hill and TSG, these liabilities are generally expected to be recognized as revenue within one year of being purchased, earned, or deposited and are recorded within accrued other liabilities on the Company’s Consolidated Balance Sheets. The following table summarizes the activity related to contract and contract-related liabilities (in thousands): Outstanding Chip Liability Player Loyalty Liability Customer Deposits and Other Deferred Revenue 2020 2019 2020 2019 2020 2019 Balance at January 1 $ 9,770 $ 8,930 $ 13,461 $ 17,639 $ 171,641 $ 27,588 Balance at March 31 7,166 8,775 12,336 17,285 172,027 175,915 Increase / (decrease) $ (2,604 ) $ (155 ) $ (1,125 ) $ (354 ) $ 386 $ 148,327 The March 31, 2020 balances exclude liabilities related to assets held for sale recorded in 2020 and 2019 (see Note 4). The significant change in customer deposits and other deferred revenue during the three months ended March 31, 2019 was primarily attributed to the initial recognition of the Company’s interests in William Hill, which is recorded in other long-term liabilities on the Consolidated Balance Sheets (see Note 6).

Assets Held for Sale

Assets Held for Sale	3 Months Ended
	Mar. 31, 2020
Discontinued Operations And Disposal Groups [Abstract]
Assets Held for Sale	Note 4. Assets Held for Sale Kansas City, Vicksburg, Eldorado Shreveport and MontBleu On July 10, 2019, the Company entered into a definitive agreement to sell the equity interests of the entities that hold Vicksburg and Kansas City to Twin River for approximately $230 million, subject to a working capital adjustment. The definitive agreements provide that the consummation of the sales are subject to satisfaction of customary conditions, including receipt of required regulatory approvals. On January 13, 2020 and March 9, 2020, respectively, the Company entered into definitive purchase agreements to sell the equity interests of Eldorado Resort Casino Shreveport Joint Venture and Columbia Properties Tahoe, LLC, the entities that hold Eldorado Shreveport and MontBleu, to Maverick. On April 24, 2020, the purchase agreements with Maverick were terminated and the Company entered into a definitive purchase agreement with Twin River and certain of its affiliates for the sale of the equity interests of Eldorado Resort Casino Shreveport Joint Venture and Columbia Properties Tahoe, LLC for aggregate consideration of $155 million. The definitive agreement provides that the consummation of the sale is subject to satisfaction of customary conditions, including receipt of required regulatory approvals , and further provides that the Company’s obligation to consummate the sale is subject to the closing of the Merger with Caesars and the buyer’s obligation to consummate the sale is subject to receipt of financing sufficient to enable it to pay the consideration due at closing Kansas City and Vicksburg met the requirements for presentation as assets held for sale under generally accepted accounting principles as of December 31, 2019 and March 31, 2020. Eldorado Shreveport and MontBleu met the requirements for presentation as assets held for sale as of March 31, 2020. However, none of the pending divestitures met the requirements for presentation as discontinued operations and are included in income from continuing operations in the periods presented. As . The assets and liabilities held for sale, accounted for at carrying value as it was lower than fair value, were as follows as of March 31, 2020 (in thousands): March 31, 2020 Shreveport MontBleu Kansas City Vicksburg Total Assets: Accounts receivable, net $ 1,760 $ 882 $ 361 $ 174 $ 3,177 Due from affiliates — 157 — (15 ) 142 Inventories 1,016 596 43 129 1,784 Right-of-use assets 12,156 27,720 36,776 — 76,652 Prepaid expenses and other 956 1,222 334 4,186 6,698 Property and equipment, net 85,010 36,317 39,148 31,493 191,968 Goodwill — — 39,623 8,806 48,429 Other intangibles, net 20,574 — 90,329 2,708 113,611 Assets held for sale $ 121,472 $ 66,894 $ 206,614 $ 47,481 $ 442,461 Liabilities: Accounts payable $ 596 $ 659 $ 147 $ 91 $ 1,493 Accrued payroll and related 2,381 1,248 723 421 4,773 Accrued property and other taxes 805 200 145 216 1,366 Short-term lease obligation 1,086 5,354 1,528 — 7,968 Long-term lease obligations 13,228 63,017 33,721 — 109,966 Accrued other liabilities 2,397 2,284 891 252 5,824 Other long-term liabilities 60 23 168 31 282 Liabilities related to assets held for sale $ 20,553 $ 72,785 $ 37,323 $ 1,011 $ 131,672 The assets and liabilities held for sale, accounted for at carrying value as it was lower than fair value, were as follows as of December 31, 2019 (in thousands): December 31, 2019 Kansas City Vicksburg Total Assets: Accounts receivable, net $ 285 $ 75 $ 360 Inventories 52 119 171 Right-of-use assets 36,135 — 36,135 Prepaid expenses and other 216 4,168 4,384 Property and equipment, net 39,126 31,493 70,619 Goodwill 39,623 8,806 48,429 Other intangibles, net 90,329 2,708 93,037 Assets held for sale $ 205,766 $ 47,369 $ 253,135 Liabilities: Accounts payable $ 307 $ 188 $ 495 Accrued payroll and related 567 327 894 Accrued property and other taxes 26 891 917 Short-term lease obligation 764 — 764 Long-term lease obligation 33,080 — 33,080 Accrued other liabilities 1,055 280 1,335 Liabilities related to assets held for sale $ 35,799 $ 1,686 $ 37,485 The following information presents the net revenues and net income (loss) for the Company’s properties that are held for sale (in thousands): Three Months ended March 31, 2020 Shreveport MontBleu Kansas City Vicksburg Net revenues $ 22,550 $ 8,617 $ 13,748 $ 4,530 Net income (loss) 1,679 (42,164 ) 3,214 (473 ) Mountaineer, Caruthersville and Cape Girardeau Divestitures The sales of Mountaineer, Caruthersville and Cape Girardeau were consummated on December 6, 2019. Mountaineer was previously reported in the East segment and Caruthersville and Cape Girardeau were previously reported in the Midwest segment. Prior to the closing date, Mountaineer, Cape Girardeau and Caruthersville met the requirements for presentation as assets held for sale. However, they did not meet the requirements for presentation as discontinued operations. Mountaineer was reported in the East segment and Cape Girardeau and Caruthersville were reported in Midwest segment. The following information presents the net revenues and net income of Mountaineer, Cape Girardeau and Caruthersville for the three months ended March 31, 2019 (in thousands): Three Months ended March 31, 2019 Mountaineer Cape Girardeau Caruthersville Net revenues $ 30,165 $ 15,401 $ 8,927 Net income 1,623 2,114 1,780 Presque and Nemacolin Divestitures The sale of Presque closed on January 11, 2019 resulting in a gain on sale of $22.1 million, net of final working capital adjustments, for the three months ended March 31, 2019. The sale of Nemacolin closed on March 8, 2019 resulting in a gain on sale of $0.1 million, net of final working capital adjustments, for the three months ended March 31, 2019. Presque and Nemacolin were both previously reported in the East segment. The following information presents the net revenues and net income (loss) of Presque and Nemacolin prior to the respective divestitures (in thousands): Three Months ended March 31, 2019 Presque Nemacolin Net revenues $ 3,235 $ 4,836 Net loss (42 ) (754 ) These amounts include historical operating results, adjusted to eliminate the internal allocation of interest expense that was not be assumed by the buyer.

Stock-Based Compensation and St

Stock-Based Compensation and Stockholders' Equity	3 Months Ended
	Mar. 31, 2020
Share Based Compensation [Abstract]
Stock-Based Compensation and Stockholders’ Equity	Note 5. Stock-Based Compensation and Stockholders’ Equity Share Repurchase Program In November 2018, the Company’s Board of Directors authorized a $150 million common stock repurchase program (the “Share Repurchase Program”) pursuant to which the Company may, from time to time, repurchase shares of common stock on the open market (either with or without a 10b5-1 plan) or through privately negotiated transactions. The Share Repurchase Program has no time limit and may be suspended or discontinued at any time without notice. There is no minimum number of shares of common stock that the Company is required to repurchase under the Share Repurchase Program. The Company acquired 223,823 shares of common stock at an aggregate value of $9.1 million and an average of $40.80 per share in 2018. No shares were repurchased in 2019 or during the three months ended March 31, 2020. Stock-Based Compensation The Company accounts for stock-based compensation in accordance with ASC 718, Compensation—Stock Compensation. Total stock-based compensation expense in the accompanying Consolidated Statements of Operations totaled $5.7 million and $4.9 million during the three months ended March 31, 2020 and 2019, respectively. These amounts are included in corporate expenses and, in the case of certain property positions, general and administrative expenses in the Company’s Consolidated Statements of Operations. The Company recognized an increase in income tax benefit of $2.8 million for the three months ended March 31, 2020, related to stock-based compensation. The Company recognized a reduction in income tax expense of $2.6 million for the three months ended March 31, 2019 for excess tax benefits related to stock-based compensation. A summary of the restricted stock unit (“RSU”) activity for the three months ended March 31, 2020 is presented in the following table: Restricted Stock Units Units Weighted- Average Grant Date Fair Value (in millions) Unvested outstanding as of December 31, 2019 1,246,641 $ 35.56 Granted (1) 293,367 57.73 Vested (371,108 ) 24.05 Forfeited (8,333 ) 42.13 Unvested outstanding as of March 31, 2020 1,160,567 $ 45.10 (1) Included are 20,615 RSUs granted to non-employee members of the Board of Directors during the three months ended March 31, 2020. As of March 31, 2020 and 2019, the Company had $34.2 million and $28.6 million, respectively, of unrecognized compensation expense. The RSUs are expected to be recognized over a weighted-average period of 1.9 years There was no stock option activity for the three months ended March 31, 2020. Outstanding options as of March 31, 2020 totaled 135,956, of which 125,331 options were exercisable.

Investments in and Advances to

Investments in and Advances to Unconsolidated Affiliates	3 Months Ended
	Mar. 31, 2020
Equity Method Investments And Joint Ventures [Abstract]
Investments in and Advances to Unconsolidated Affiliates	Note 6. Investments in and Advances to Unconsolidated Affiliates Pompano Joint Venture In April 2018, the Company entered into a joint venture with Cordish Companies (“Cordish”) to master plan and develop a mixed-use entertainment and hospitality destination expected to be located on unused land adjacent to the casino and racetrack at the Company’s Pompano property. As the managing member, Cordish will operate the business and manage the development, construction, financing, marketing, leasing, maintenance and day-to-day operation of the various phases of the project. Additionally, Cordish will be responsible for the development of the master plan for the project with the Company’s input and will submit it for the Company’s review and approval. The Company and Cordish have made cash contributions of $500,000 each and could be required to make additional contributions to a maximum of $2.0 million ($1.0 million per member) at the request of the managing member. The Company has agreed to contribute approximately 130 to 200 acres of land to the joint venture for the project. As of March 31, 2020 and December 31, 2019, we have contributed approximately 20 acres to the joint venture at a fair value of $6.6 million. While the Company holds a 50% variable interest in the joint venture, it is not the primary beneficiary; as such the investment in the joint venture is accounted for using the equity method. The Company participates evenly with Cordish in the profits and losses of the joint venture, which is included in income (loss) from unconsolidated affiliates on the Consolidated Statements of Operations. As of March 31, 2020 and December 31, 2019, the Company’s investment in the joint venture is recorded in investment in and advances to unconsolidated affiliates on the Consolidated Balance Sheets. William Hill In September 2018, the Company entered into a 25-year agreement, which became effective January 29, 2019, with William Hill PLC and William Hill US, its U.S. subsidiary (together, “William Hill”) pursuant to which the Company (i) granted to William Hill the right to conduct betting activities in retail channels and under the Company’s first skin and third skin for online channels with respect to the Company’s current and future properties located in the United States and the territories and possessions of the United States, including Puerto Rico and the U.S. Virgin Islands and (ii) agreed that William Hill will have the right to conduct real money online gaming activities utilizing the Company’s second skin available with respect to properties in such territories . The Company is accounting for its investment in William Hill US under the equity method. The fair value of the Company’s initial investment in William Hill US of $128.9 million at January 29, 2019 was determined using Level 3 inputs. As of March 31, 2020 and December 31, 2019, the carrying value of the Company’s interest in William Hill US totaled $127.2 million and $127.1 million, respectively, and is recorded in investment in and advances to unconsolidated affiliates on the Consolidated Balance Sheets. As of March 31, 2020 and December 31, 2019, the fair value of the William Hill PLC shares totaled $10.0 and $29.3 million, respectively, net of a cumulative unrealized loss of $17.4 million and a cumulative unrealized gain of $2.1 million, respectively, and included in other assets, net on the Consolidated Balance Sheets. The Company recorded unrealized losses totaling $19.3 million and $2.9 million during the three months ended March 31, 2020 and 2019, respectively. The Company also recorded deferred revenue associated with the William Hill US and William Hill PLC shares and is recognizing revenue on a straight-line basis over the 25-year agreement term. The Company recognized revenue of $1.5 million and $0.2 million during the three months ended March 31, 2020 and 2019, respectively. As of March 31, 2020 and December 31, 2019, the balance of the William Hill deferred revenue totaled $140.6 million and $142.1 million, respectively, and is recorded in other long-term liabilities on the Consolidated Balance Sheets.

Intangible Assets, Net

Intangible Assets, Net	3 Months Ended
	Mar. 31, 2020
Other And Intangible Assets Net Disclosure [Abstract]
Intangible Assets, Net	Note 7. Intangible Assets, net Other and intangible assets, net, include the following amounts (in thousands): March 31, December 31, 2020 2019 Useful Life Goodwill $ 810,187 $ 909,717 Indefinite Gaming licenses $ 872,158 $ 893,302 Indefinite Trade names 146,279 165,479 Indefinite Player loyalty programs 97,935 100,694 3 - 4 years Subtotal 1,116,372 1,159,475 Accumulated amortization player loyalty programs (53,203 ) (48,077 ) Total gaming licenses and other intangible assets, net $ 1,063,169 $ 1,111,398 Gaming licenses represent intangible assets acquired from the purchase of a gaming entity located in a gaming jurisdiction where competition is limited, such as when only a limited number of gaming operators are allowed to operate in the jurisdiction. These gaming license rights are not subject to amortization as the Company has determined that they have indefinite useful lives. Goodwill represents the excess of the purchase prices of acquiring MTR Gaming, Isle, Elgin and Tropicana over the fair market value of the net assets acquired. The following table presents the change to goodwill for the three months ended March 31, 2020 (in thousands): Goodwill Accumulated Impairment Goodwill, net December 31, 2019 $ 921,408 $ (11,691 ) $ 909,717 Impairments — (99,530 ) (99,530 ) Assets held for sale (see Note 4) (5 ) 5 — March 31, 2020 $ 921,403 $ (111,216 ) $ 810,187 During the three months ended March 31, 2020, the Company recognized impairment charges related to goodwill and trade names totaling $99.5 million and $15.6 million, respectively, due to declines in recent performance and the expected impact on future cash flows as a result of COVID-19. Additionally, in conjunction with the classification of MontBleu’s operations as assets held for sale as of March 31, 2020 (see Note 4) as a result of the announced sale, an impairment charge totaling $45.6 million was recorded due to the carrying value exceeding the estimate sales proceeds. Impairment charges recorded by segment for the three months ended March 31, 2020 (in thousands) were as follows: West South Midwest Total Goodwill $ 52,805 $ 15,625 $ 31,100 $ 99,530 Trade names 8,990 5,700 5,500 20,190 Property, plant and equipment (see Note 4) 23,228 — — 23,228 Right of use assets (see Note 4) 17,810 — — 17,810 $ 102,833 $ 21,325 $ 36,600 $ 160,758 Amortization expense with respect to player loyalty programs for the three months ended March 31, 2020 and 2019 totaled $7.5 million and $7.6 million, respectively, which is included in depreciation and amortization in the Consolidated Statements of Operations. Such amortization expense is expected to be $20.6 million for the remainder of 2020 and $21.2 million and $4.2 million for the years ended December 31, 2021 and 2022, respectively.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Note 8. Income Taxes The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was enacted on March 27, 2020. The CARES Act includes, among other things, refundable payroll tax credits, deferment of employer side social security payments, net operating loss carryback periods, alternative minimum tax credit refunds, modifications to the net interest deduction limitations, and technical amendments regarding the income tax depreciation of qualified improvement property placed in service after December 31, 2017. These amendments allow for retroactive accelerated income tax depreciation on certain of our leasehold improvement assets. The Company is currently assessing the financial impact of these technical amendments on our business. The Company estimates an annual effective income tax rate based on projected results for the year and applies this rate to income before taxes to calculate income tax expense. Any refinements made due to subsequent information that affects the estimated annual effective income tax rate are reflected as adjustments in the current period. For the three months ended March 31, 2020, the Company’s tax benefit was $37.2 million. For the three months ended March 31, 2019, the Company’s tax expense was $10.4 million. For the three months ended March 31, 2020, the difference between the effective rate and the statutory rate is attributed primarily to goodwill impairments, true-up of certain state tax benefits, state and local income taxes and changes in the valuation allowance. For the three months ended March 31, 2019, the difference between the effective rate and the statutory rate is attributed primarily to non-deductible expenses and state and local income taxes. As of March 31, 2020, there were no unrecognized tax benefits and the Company does not expect a significant increase or decrease to the total amounts of unrecognized tax benefits within the next twelve months. We recognize accrued interest and penalties related to unrecognized tax benefits in income tax expense. The Company and its subsidiaries file US federal income tax returns and various state and local income tax returns. The Company does not have tax sharing agreements with the other members within the consolidated ERI group. With few exceptions, the Company is no longer subject to US federal or state and local tax examinations by tax authorities for years before 2008.

Long-Term Financing Obligation

Long-Term Financing Obligation	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Long-Term Financing Obligation	Note 9. Long-Term Financing Obligation Under the prior lease accounting standard, the Company’s Master Lease with GLPI was accounted for as a failed sale-leaseback financing obligation equal to the fair value of the leased real estate assets and liabilities acquired in purchase accounting in conjunction with the acquisition of Tropicana in 2018. Upon adoption of ASC 842, the Company re-evaluated the Master Lease and determined this existing failed sale-leaseback transaction would continue to be accounted for as a financing obligation. The fair value of the real estate assets and the related failed sale-leaseback financing obligations were estimated based on the present value of the estimated future lease payments over the lease term of 35 years, including renewal options, using an imputed discount rate of approximately 10.2%. The value of the failed sale-leaseback financing obligations is dependent upon assumptions regarding the amount of the lease payments and the estimated discount rate of the lease payments required by a market participant. The Master Lease provides for the lease of land, buildings, structures and other improvements on the land (including barges and riverboats), easements and similar appurtenances to the land and improvements relating to the operation of the leased properties. The Master Lease provides for an initial term of fifteen years with no purchase option. At the Company’s option, the Master Lease may be extended for up to four five-year renewal terms beyond the initial 15-year term. If we elect to renew the term of the Master Lease, the renewal will be effective as to all, but not less than all, of the leased property then subject to the Master Lease. The Company does not have the ability to terminate its obligations under the Master Lease prior to its expiration without GLPI’s consent. The rent payable under the Master Lease is comprised of “Base Rent” and “Percentage Rent.” Base rent is the sum of: • Building Base Rent: a fixed component equal to $60.9 million during the first year of the Master Lease, and thereafter escalated annually by 2%, subject to a cap that would cause the preceding year’s adjusted revenue to rent ratio for the properties in the aggregate not to fall below 1.20:1.00 for the first five years of the Master Lease and 1.80:1.00 thereafter; plus • Land Base Rent: an additional fixed component equal to $13.4 million, subject to adjustment in the event of the termination of the Master Lease with respect to any of the leased properties. The percentage rent payable under the Master Lease is adjusted every two years based on the actual net revenues of the leased properties during the two-year period then ended. The initial variable rent, which is fixed for the first two years, is $13.4 million per year. The actual percentage increase is based on actual performance and is subject to change. The initial annual rent under the terms of the lease was approximately $87.6 million and subject to annual escalations as referenced in the table below. Under the Master Lease, the Company is required to pay the following, among other things: lease payments to the underlying ground lessor for properties that are subject to ground leases, facility maintenance costs, all insurance premiums for insurance with respect to the leased properties and the business conducted on the leased properties, taxes levied on or with respect to the leased properties (other than taxes on the income of the lessor and all utilities and other services necessary or appropriate for the leased properties and the business conducted on the leased properties). The estimated future lease payments include the minimum lease payments and were adjusted to reflect estimated lease payments as described in the agreements, including an annual escalator of up to 2%. The future minimum payments related to the Master Lease financing obligation with GLPI at March 31, 2020 were as follows (in thousands): 2020 (excluding the three months ended March 31, 2020) 66,953 2021 90,417 2022 91,691 2023 92,990 2024 94,315 Thereafter 3,412,357 Total future payments 3,848,723 Less: Amounts representing interest at 10.2% (3,295,701 ) Plus: Residual values 420,100 Financing obligation to GLPI $ 973,122 Total cash payments and interest expense related to the Master Lease totaled $22.2 million and $24.8 million, respectively, for the three months ended March 31, 2020. Total cash payments and interest expense related to the Master Lease totaled $21.9 million and $24.6 million, respectively, for the three months ended March 31, 2019. For the initial periods of the Master Lease, cash payments are less than the interest expense recognized, which causes the failed sale-leaseback obligation to increase during the initial years of the lease term. The Master Lease contains certain covenants, including minimum capital improvement expenditures and a rent coverage ratio. As of March 31, 2020, we were in compliance with all of the covenants under the Master Lease.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Long-Term Debt	Note 10. Long-Term Debt Long‑term debt consisted of the following (in thousands): March 31, December 31, 2020 2019 Term Loan $ 488,750 $ 498,750 Less: Unamortized discount and debt issuance costs (7,407 ) (7,982 ) Net 481,343 490,768 6% Senior Notes due 2026 600,000 600,000 Less: Unamortized debt issuance costs (17,420 ) (17,958 ) Net 582,580 582,042 6% Senior Notes due 2025 875,000 875,000 Plus: Unamortized debt premium 19,368 20,214 Less: Unamortized debt issuance costs (15,296 ) (15,939 ) Net 879,072 879,275 7% Senior Notes due 2023 375,000 375,000 Less: Unamortized discount and debt issuance costs (4,642 ) (4,923 ) Net 370,358 370,077 Revolving Credit Facility 465,000 — Lumière Loan 246,000 246,000 Long-term notes and other payables 2,447 2,554 Less: Current portion (246,109 ) (246,175 ) Total long-term debt $ 2,780,691 $ 2,324,541 Amortization of the debt issuance costs and the discount and/or premium associated with our indebtedness totaled $1.6 million and $1.9 million for the three months ended March 31, 2020 and 2019, respectively. Amortization of debt issuance costs is computed using the effective interest method and is included in interest expense. In accordance with ASC Topic 470-50, Debt Modifications and Extinguishments (“ASC 470-50”), the Company recognized a loss on the early retirement of debt totaling $0.2 million for the three months ended March 31, 2020 related to a pro-rated write off of deferred financing costs associated with permanent payments on our Term Loan. The Company did not incur a similar loss during the three months ended March 31, 2019. Scheduled maturities of long‑term debt are $246.0 million for the remainder of 2020, $0.2 million in 2021, $0.2 million in 2022, $840.1 million in 2023, $0.2 million in 2024, and $2.0 billion thereafter. Term Loan and Revolving Credit Facility The Company is party to a credit agreement with JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto dated as of April 17, 2017 (as amended the “Credit Facility”), consisting of a $1.45 billion term loan facility (the “Term Loan Facility” or “Term Loan”) and a $500.0 million revolving credit facility (the “Revolving Credit Facility”). As of March 31, 2020, the Company had $488.8 million outstanding on the Term Loan and $465.0 outstanding under the Revolving Credit Facility. During the three months ended March 31, 2020, the Company elected to draw down availability under the Revolving Credit Facility as a precautionary measure to enhance its liquidity and provide financial flexibility as the effects of COVID-19 continue to evolve and impact global financial markets. The Company had $16.8 million of available borrowing capacity, after consideration of $18.2 million in outstanding letters of credit under its Revolving Credit Facility, as of March 31, 2020. In 2019, the Company utilized $360.0 million and $150.0 million of net proceeds from the sales of Mountaineer, Cape Girardeau and Caruthersville and the sale of Presque, respectively, to repay a portion of amounts outstanding under the Term Loan. The interest rate per annum applicable to loans under the Revolving Credit Facility are, at our option, either LIBOR plus a margin ranging from 1.75% to 2.50% or a base rate plus a margin from 0.75% to 1.50%, the margin is based on our total leverage ratio. The interest rate per annum applicable to the loans under the Term Loan Facility is, at our option, either LIBOR plus 2.25%, or a base rate plus 1.25%; provided, however, that in no event will LIBOR be less than zero or the base rate be less than 1.00%. Additionally, the Company pays a commitment fee on the unused portion of the Revolving Credit Facility of 0.50% per annum. As of March 31, 2020, the weighted average interest rate on the Term Loan and Revolving Credit Facility were 3.25% and 2.81%, respectively. Lumière Loan We borrowed $246 million from GLPI to fund the purchase price of the real estate underlying Lumière. The Lumière Loan bears interest at a rate equal to (i) 9.09% until October 1, 2019 and (ii) 9.27% until October 1, 2020, and matures on October 1, 2020. The Lumière Loan was secured by a first priority mortgage on the Lumière real property that was released pursuant to its terms on October 1, 2019. In connection with the issuance of the Lumière Loan, we agreed to use our commercially reasonable efforts to transfer one or more of the Grand Victoria Casino, Isle Casino Bettendorf, Isle Casino Hotel Waterloo, Isle of Capri Lula, Lady Luck Casino Vicksburg and Mountaineer Casino, Racetrack and Resort or such other property or properties mutually acceptable to us and GLPI, provided that the aggregate value of such property, individually or collectively, is at least $246 million (the “Replacement Property”), to GLPI with a simultaneous leaseback to us of such Replacement Property. In connection with such Replacement Property sale, (i) we and GLPI will enter into an amendment to the Master Lease to revise the economic terms to include the Replacement Property, (ii) GLPI, or one of its affiliates, will assume the Lumière Loan and Tropicana St. Louis RE’s obligations under the Lumière Loan in consideration of the acquisition of the Replacement Property and our obligations under the Lumière Loan will be deemed to have been satisfied, and (iii) in the event the value of the Replacement Property is greater than the our outstanding obligations under the Lumière Loan, GLPI will pay us the difference between the value of the Replacement Property and the amount of outstanding obligations under the Lumière Loan. If such Replacement Property transaction is not consummated prior to the maturity date of the Lumière Loan, other than as a result of certain failures to perform by GLPI, then the amounts outstanding will be paid in full and the rent under the Master Lease will automatically increase, subject to certain escalations. Debt and Master Lease Covenant Compliance As of March 31, 2020, the Company was in compliance with all of the covenants under the 7% Senior Notes due 2023, 6% Senior Notes due 2025, 6% Senior Notes due 2026, the Credit Facility, the Lumière Loan and the Master Lease. However, the Company’s ability to remain in compliance with the quarterly maintenance covenants under its Credit Agreement and the Master Lease may be negatively impacted if the period of casino closures is prolonged or if the COVID-19 pandemic, measures implemented to curtail its spread or changes in the economy, discretionary spending and consumer confidence have a protracted negative effect on the Company’s business. Failure to satisfy the quarterly maintenance covenants contained in the Credit Agreement and the Master Lease would require the Company to seek waivers or amendments of the maintenance covenants. There can be no assurance that the Company will be able to obtain required waivers or amendments, as such matters depend, in part, on factors outside of its control. If the Company fails to satisfy its quarterly maintenance covenants and is unable to obtain such waivers or amendments, its creditors could exercise remedies under the applicable documents governing such indebtedness, including acceleration of such indebtedness, and the lessor under the Master Lease could terminate the Master Lease. The acceleration of indebtedness outstanding under the Credit Agreement or the termination of the Master Lease as a result of failure to satisfy the covenants applicable to such obligations would give rise to an event of default under its outstanding senior notes entitling the holders thereof to accelerate the obligations thereunder.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 11. Fair Value Measurements Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Accordingly, fair value is a market based measurement that is determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, there is a three‑tier fair value hierarchy, which prioritizes the inputs used in measuring fair values as follows: • Level 1 Inputs : Quoted market prices in active markets for identical assets or liabilities. • Level 2 Inputs : Observable market‑based inputs or unobservable inputs that are corroborated by market data. • Level 3 Inputs : Unobservable inputs that are not corroborated by market data. The following methods and assumptions are used to estimate the fair value of each class of financial instruments for which it is practical to estimate fair value: Cash and Cash Equivalents : Cash equivalents include cash held in money market funds and investments that can be redeemed immediately at the current net asset value per share. A money market fund is a mutual fund whose investments are primarily in short‑term debt securities designed to maximize current income with liquidity and capital preservation, usually maintaining per share net asset value at a constant amount, such as one dollar. Cash and cash equivalents also include cash maintained for gaming operations. The carrying amounts approximate the fair value because of the short maturity of those instruments (Level 1). Restricted Cash and Investments : The estimated fair values of our restricted cash and investments are based upon quoted prices available in active markets (Level 1), or quoted prices for similar assets in active and inactive markets (Level 2), or quoted prices available in active markets adjusted for time restrictions related to the sale of the investment (Level 3) and represent the amounts we would expect to receive if we sold our restricted cash and investments. Restricted investments include shares acquired in conjunction with the Company’s sports betting agreements that contain restrictions related to the ability to liquidate shares within a specified timeframe. Marketable Securities: Marketable securities consist primarily of trading securities held by the Company’s captive insurance subsidiary and unrestricted shares acquired in conjunction with the Company’s sports betting agreements. The estimated fair values of the Company’s marketable securities are determined on an individual asset basis based upon quoted prices of identical assets available in active markets (Level 1), quoted prices of identical assets in inactive markets, or quoted prices for similar assets in active and inactive markets (Level 2), and represent the amounts 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. 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, 2020 and December 31, 2019 (amounts in thousands): March 31, 2020 Assets: Level 1 Level 2 Level 3 Total Restricted cash and investments $ 11,036 $ 2,115 $ 14,011 $ 27,162 Marketable securities 24,301 7,084 — 31,385 December 31, 2019 Assets: Level 1 Level 2 Level 3 Total Restricted cash and investments $ 11,276 $ 2,050 $ 29,283 $ 42,609 Marketable securities 27,103 7,531 — 34,634 The change in restricted cash and investments valued using Level 3 inputs for the three months ended March 31, 2020 is as follows: Level 3 Investments Fair value of investment and liabilities at December 31, 2019 $ 29,283 Value of additional investment received 4,678 Unrealized loss (19,950 ) Fair value at March 31, 2020 $ 14,011 There were no transfers between Level 1, Level 2 and Level 3 investments during the three months ended March 31, 2020. In November 2018, the Company entered into a 20-year agreement with TSG pursuant to which it agreed to provide TSG with options to obtain access to a second skin for online sports wagering and third skin for real money online gaming and poker, in each case with respect to the Company’s properties in the United States. Under the terms of the agreement, the Company will receive a revenue share from the operation of the applicable verticals by TSG under the Company’s licenses. Pursuant to the terms of the TSG agreement, the Company received 1.1 million TSG common shares, and an additional $5.0 million in TSG common shares became payable to the Company upon TSG’s exercise of its first option; all shares are subject to a one year restriction from the date they are received. The Company may also receive additional TSG common shares in the future based on TSG net gaming revenue generated in its markets. As of March 31, 2020 and December 31, 2019, the fair value of unrestricted shares in TSG totaled $11.0 million and $14.0 million, respectively, net of cumulative unrealized gains of $0.6 million and $3.7 million, respectively, and is included in marketable securities on the Consolidated Balance Sheet. In addition, as of March 31, 2020, the fair value of restricted shares in TSG totaled $4.0 million, net of cumulative unrealized losses of $0.6 million, and is included in restricted cash and investments on the Consolidated Balance Sheet. The Company recorded unrealized losses of $3.4 million during the three months ended March 31, 2020 and unrealized gains of $1.4 million during the three months ended March 31, 2019. The estimated fair values of the Company’s financial instruments are as follows (amounts in thousands): March 31, 2020 December 31, 2019 Carrying Fair Carrying Fair Amount Value Amount Value Financial liabilities: 7% Senior Notes due 2023 $ 370,358 $ 327,656 $ 370,077 $ 390,938 6% Senior Notes due 2025 879,072 765,625 879,275 922,031 6% Senior Notes due 2026 582,580 552,000 582,042 662,250 Term Loan 481,343 422,769 490,768 498,127 Revolving Credit Facility 465,000 465,000 — — Lumière Loan 246,000 246,000 246,000 246,000 Other long-term debt 2,447 2,447 2,553 2,553

Earnings per Share

Earnings per Share	3 Months Ended
	Mar. 31, 2020
Earnings Per Share Basic And Diluted [Abstract]
Earnings per Share	Note 12. 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, 2020 and 2019 (dollars in thousands, except per share amounts): Three Months Ended March 31, 2020 2019 Net (loss) income available to common stockholders $ (175,638 ) $ 38,229 Shares outstanding: Weighted average shares outstanding – basic 77,954,038 77,567,147 Effect of dilutive securities: Stock options — 104,382 RSUs — 917,581 Weighted average shares outstanding – diluted 77,954,038 78,589,110 Net (loss) income per common share attributable to common stockholders – basic: $ (2.25 ) $ 0.49 Net (loss) income per common share attributable to common stockholders – diluted: $ (2.25 ) $ 0.49 The weighted average shares outstanding-diluted calculation above excludes 107,154 stock options and 623,999 RSUs for the three months ended March 31, 2020 as the inclusion of these shares would have an anti-dilutive effect.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 13. Commitments and Contingencies Litigation We are parties to various legal proceedings. Such proceedings can be costly, time consuming and unpredictable and, therefore, no assurance can be given that the final outcome of such proceedings will not materially impact our consolidated financial condition or results of operations. While we maintain insurance coverage that we believe is adequate to mitigate the risks of such proceedings, no assurance can be given that the amount or scope of existing insurance coverage will be sufficient to cover losses arising from such matters. Merger Litigation In September and October of 2019, eight putative class action lawsuits were filed against the Company and/or Caesars in connection with the Merger. The Company was named as a party in three of such actions: Cazer v. Caesars Entertainment Corp., et al Gershman v. Caesars Entertainment Corp., et al Palkon v. Caesars Entertainment Corp., et al Securities Action On September 23, 2019, the Company and certain of its officers were named as defendants in a putative class action complaint filed in the United States District Court for the District of New Jersey and captioned as Elberts v. Eldorado Resorts, Inc. General In addition, we are a party to various legal and administrative proceedings, which have arisen in the normal course of our business. Estimated losses are accrued for these proceedings when the loss is probable and can be estimated. The current liability for the estimated losses associated with these proceedings is not material to our consolidated financial condition and those estimated losses are not expected to have a material impact on our results of operations.

Related Affiliates

Related Affiliates	3 Months Ended
	Mar. 31, 2020
Related Party Transactions [Abstract]
Related Affiliates	Note 14. Related Affiliates REI As of March 31, 2020, Recreational Enterprises, Inc. (“REI”) owned approximately 11.1% of outstanding common stock of the Company. The directors of REI are the Company’s Executive Chairman of the Board, Gary L. Carano, its Chief Executive Officer and Board member, Thomas R. Reeg, and its former Senior Vice President of Regional Operations, Gene Carano. In addition, Gary L. Carano also serves as the Vice President of REI and Gene Carano also serves as the Secretary and Treasurer of REI. Members of the Carano family, including Gary L. Carano and Gene Carano, own the equity interests in REI. As such, the Carano family has the ability to significantly influence the affairs of the Company. During the three months ended March 31, 2020 and 2019, there were no related party transactions between the Company and the Carano family other than compensation, including salary and equity incentives, and the CSY Lease listed below. C. S. & Y. Associates The Company owns the entire parcel on which Eldorado Reno is located, except for approximately 30,000 square feet which is leased from C. S. & Y. Associates (“CSY”) which is an entity partially owned by REI (the “CSY Lease”). The CSY Lease expires on June 30, 2057. Rent pursuant to the CSY Lease is $0.6 million annually and paid quarterly during the year. As of March 31, 2020 and December 31, 2019, there were no amounts due to or from CSY. As a result of the impact of COVID-19 on Eldorado Reno’s revenues due to the closure of the casino in March 2020, an amendment was executed to defer rental payments for a portion of 2020, not to exceed three months, until 2021 and 2022.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Segment Information	Note 15. Segment Information The executive decision maker of our Company reviews operating results, assesses performance and makes decisions on a “significant market” basis. Management views each of our casinos as an operating segment. Operating segments are aggregated based on their similar economic characteristics, types of customers, types of services and products provided, and their management and reporting structure. The Company’s principal operating activities occur in five geographic regions and reportable segments. The reportable segments are based on the similar characteristics of the operating segments within the regions in which they operate. See Note 1 for a summary of these segments. Also see Notes 4 and 7 for a discussion of the impairment of intangibles and long-lived assets related to certain segments. The following table sets forth, for the periods indicated, certain operating data for our five reportable segments. Three Months Ended March 31, 2020 2019 (in thousands) Revenues and expenses West: Net revenues $ 105,490 $ 118,095 Depreciation and amortization 13,938 13,143 Operating (loss) income (97,457 ) 10,801 Midwest: Net revenues 60,793 96,787 Depreciation and amortization 4,522 8,421 Operating (loss) income (19,354 ) 27,833 South: Net revenues 97,052 132,714 Depreciation and amortization 7,120 11,015 Operating (loss) income (11,194 ) 27,515 East: Net revenues 108,056 166,233 Depreciation and amortization 11,241 12,149 Operating income 11,016 27,161 Central: Net revenues 99,705 120,472 Depreciation and amortization 11,763 11,210 Operating income 18,114 27,070 Corporate: Net revenues 1,973 1,522 Depreciation and amortization 1,849 1,819 Operating (loss) income (24,305 ) 3,224 Total Reportable Segments Net revenues $ 473,069 $ 635,823 Depreciation and amortization $ 50,433 $ 57,757 Operating (loss) income $ (123,180 ) $ 123,604 Reconciliations to consolidated net income: Operating (loss) income $ (123,180 ) $ 123,604 Unallocated (loss) income and expenses: Interest expense, net (66,464 ) (73,510 ) Loss on extinguishment of debt (158 ) — Unrealized loss on investments and marketable securities (23,008 ) (1,460 ) Benefit (provision) for income taxes 37,172 (10,405 ) Net (loss) income $ (175,638 ) $ 38,229 Three Months Ended March 31, 2020 2019 (in thousands) Capital Expenditures, Net West $ 8,586 $ 16,054 Midwest 1,636 4,123 South 3,780 3,764 East 5,597 10,574 Central 2,447 2,668 Corporate 1,155 1,177 Total $ 23,201 $ 38,360 Balance sheet as of March 31, 2020 2019 (in thousands) Total Assets West $ 1,659,542 $ 1,816,033 Midwest 1,119,005 1,157,882 South 1,129,003 1,161,622 East 1,573,068 1,590,364 Central 1,546,207 1,539,894 Corporate, Other and Eliminations (1,135,653 ) (1,625,242 ) Total $ 5,891,172 $ 5,640,553

Pending Acquisitions

Pending Acquisitions	3 Months Ended
	Mar. 31, 2020
Business Combinations [Abstract]
Pending Acquisitions	Note 16. Pending Acquisition Caesars Entertainment Corporation On June 24, 2019, the Company entered into an Agreement and Plan of Merger (as amended by Amendment No. 1 to Agreement and Plan of Merger, dated as of August 15, 2019, and as it may be further amended from time to time, the “Merger Agreement”) with Caesars Entertainment Corporation (“Caesars”) pursuant to which a wholly-owned subsidiary of the Company will merge with and into Caesars, with Caesars surviving as a wholly-owned subsidiary of the Company (the “Merger”) . Based on the terms and subject to the conditions set forth in the Merger Agreement, the aggregate consideration payable by the Company in respect of outstanding shares of common stock of Caesars will be (a) an amount of cash equal to (i) the sum of (A) $8.40 plus (B) an amount equal to $0.003333 for each day from March 25, 2020 until the closing date of the Merger (such aggregate amount, the “Per Share Cash Merger Consideration”), multiplied by (ii) a number of shares of Caesars common stock equal to (A) 682,161,838 (which includes 8,271,660 shares being held in escrow trust to satisfy unsecured claims pursuant to the Third Amended Joint Plan of Reorganization, filed with the U.S. Bankruptcy Court for the Northern District of Illinois in Chicago on January 13, 2017, at Docket No. 6318, which shares are not entitled to vote) plus (B) the number of shares of Caesars common stock (the “Aggregate Caesars Share Amount”) issued after June 24, 2019 and prior to the effective time of the Merger pursuant to the exercise of certain equity awards issued under Caesars stock plans or conversion of Caesars’ outstanding convertible notes and (b) a number of shares of common stock of Eldorado equal to 0.0899 multiplied by the Aggregate Caesars Share Amount (such amount per share of Caesars common stock, the “Merger Consideration”). Based on the number of shares of ERI and Caesars outstanding as of March 31, 2020, following the consummation of the Merger (assuming that all Caesars convertible notes are converted immediately following consummation of the Merger into the Per Share Cash Merger Consideration and 0.0899 shares of common stock of Eldorado for each share of Caesars common stock into which such Caesars convertible notes were convertible immediately prior to the Merger), Eldorado and former Caesars stockholders will hold approximately 50.2% and 49.8%, respectively, of the combined company's outstanding shares of common stock. The Merger Agreement contains customary representations and warranties by each of Caesars and Eldorado, and each party has agreed to customary covenants. The Merger Agreement also contains termination rights for each of Caesars and Eldorado under certain circumstances. If the Merger Agreement is terminated in certain circumstances relating to changes in the recommendation of the board of directors of Caesars in favor of the Merger, entry by Caesars into an alternative transaction or in certain circumstances following the failure of Caesars stockholders to approve the Merger, Caesars will be required to pay Eldorado a termination fee of approximately $418.4 million. The Merger Agreement provides that if it is terminated in certain circumstances relating to changes in the recommendation of the board of directors of Eldorado in favor of the issuance of shares of Eldorado common stock in the Merger or in certain circumstances following the failure of Eldorado stockholders to approve such issuance, then Eldorado will be required to pay Caesars a termination fee of approximately $154.9 million. It also provides that each party will be obligated to reimburse the other party’s expenses for an amount not to exceed $50.0 million if the Merger Agreement is terminated because of the failure to obtain the required approval of such party’s stockholders (creditable against any termination fee that may subsequently be paid by such party). The Merger Agreement also provides that Eldorado will be obligated to pay a termination fee of approximately $836.8 million to Caesars if the Merger Agreement is terminated (i) due to a law or order relating to gaming or antitrust laws that prohibits or permanently enjoins the consummation of the transactions, (ii) because the required regulatory approvals were not obtained prior to June 24, 2020 (subject to extension to a date no later than December 24, 2020 pursuant to the Merger Agreement) or (iii) due to Eldorado willfully and materially breaching certain obligations with respect to the actions required to be taken by Eldorado to obtain required antitrust approvals. Consummation of the Merger is subject to the satisfaction or waiver of certain conditions, including, among others, (1) the expiration or termination of any applicable waiting period under the HSR Act, and receipt of required gaming approvals, (2) the absence of any governmental order or law prohibiting the consummation of the Merger, (3) adoption of the Merger Agreement by holders of a majority of the outstanding shares of Caesars common stock, (4) the approval of the issuance of shares of Eldorado common stock in the Merger, (5) the effectiveness of the registration statement for Eldorado common stock to be issued in the Merger and the authorization for listing of those shares on the Nasdaq Stock Market, (6) absence of a material adverse effect on the other party, (7) the accuracy of the other party’s representations and warranties, subject to customary materiality standards, (8) compliance of the other party with its respective covenants under the Merger Agreement in all material respects and (9) conversion or certain amendments of, or another mutually agreed arrangement with respect to, Caesars’ 5.00% convertible senior notes due 2024. Caesars’ stockholders adopted the Merger Agreement, and the Company’s stockholders approved the issues of shares of Eldorado common stock in the Merger, at separate special meetings of stockholders on November 15, 2019. In addition, on November 27, 2019, Caesars entered into certain amendments with respect to Caesars’ 5.00% convertible senior notes due 2024. In connection with the execution of the Merger Agreement, on June 24, 2019, the Company entered into a debt financing commitment letter (the “Initial Commitment Letter”) and related fee letters with JPMorgan Chase Bank, N.A., Credit Suisse AG, Cayman Islands Branch, Credit Suisse Loan Funding LLC, Macquarie Capital (USA) Inc. and Macquarie Capital Funding LLC (the “Initial Commitment Parties”). On July 19, 2019, the Company entered into an amended and restated commitment letter (as amended, the “A&R Commitment Letter”) and related fee letters, which amended and restated the Initial Commitment Letter and related fee letters in their entirety to, among other things, add additional arrangers and lenders, including Bank of America, N.A., BofA Securities, Inc., Deutsche Bank Securities Inc., Deutsche Bank AG New York Branch, Deutsche Bank AG Cayman Islands Branch, Goldman Sachs Bank USA, SunTrust Bank, SunTrust Robinson Humphrey, Inc., U.S. Bank National Association, KeyBank National Association, KeyBanc Capital Markets Inc., Fifth Third Bank, and Citizens Bank, National Association (together with the Initial Commitment Parties, collectively, the “Commitment Parties”). Pursuant to the A&R Commitment Letter, the Commitment Parties committed to arrange and provide (i) the Company with: (w) a $1,000.0 million senior secured revolving credit facility, (x) a $3,000.0 million senior secured term loan B facility, (y) a $3,250.0 million senior secured 364-day bridge facility and (z) a $1,800.0 million senior unsecured bridge loan facility and (ii) Caesars Resort Collection, LLC, a subsidiary of Caesars, with a $2,400.0 million senior secured incremental term loan B facility (collectively, the “Debt Financing”). The proceeds of the Debt Financing will be used (a) to pay all or a portion of the cash consideration payable in the Merger, (b) to refinance all of the Company’s existing syndicated bank credit facilities and outstanding senior notes, (c) to refinance certain of Caesars’ and its subsidiaries’ existing debt, (d) to pay transaction fees and expenses related to the Merger and related transactions and (e) for working capital and general corporate purposes. The availability of the borrowings under the Debt Financing is subject to the satisfaction of certain customary conditions including the substantially concurrent closing of the Merger. On July 19, 2019, the Company entered into a commitment and engagement letter (as amended, the “Increase Commitment Letter”) and related fee letters to, if elected by the Company, increase the total size of the Debt Financing, including an increase to the senior secured term loan B facility to be arranged on a commercially reasonable efforts basis by the Commitment Parties in an amount to be agreed upon by the parties and an increase to the revolving credit facility by $830.0 million, the proceeds of which, if the Company elects to incur such financing, may be used to refinance certain existing indebtedness of Caesars Resort Collection, LLC and its subsidiaries and for working capital and general corporate purposes upon consummation of the Merger. The Increase Commitment Letter and a related engagement letter also contemplate the possibility of new senior secured and/or senior unsecured notes to be issued by the Company. In connection with the execution of the Merger Agreement, on June 24, 2019, the Company entered into the MTA with VICI, pursuant to which, among other things, the Company has agreed, subject to the consummation of the Merger and the other applicable conditions set forth therein and in any related documents, (i) through one or more of its subsidiaries (after giving effect to the Merger) to consummate one or more sale and leaseback transactions with VICI and/or its affiliates with respect to certain property described in the MTA, including Harrah’s New Orleans, Harrah’s Laughlin and Harrah’s Atlantic City (or, under certain circumstances, if necessary, certain replacement properties specified in the MTA), (ii) through one or more of its subsidiaries (after giving effect to the Merger) to amend the CPLV Lease, the Non-CPLV Lease and the Joliet Lease (each as defined in the MTA) in accordance with the terms of the MTA and receive certain consideration from VICI or its affiliates in respect thereof, (iii) to provide a guaranty in respect of each of the CPLV Lease, the Non-CPLV Lease and the Joliet Lease in accordance with the terms of the MTA, (iv) to enter into (or cause its applicable subsidiaries (after giving effect to the Merger) to enter into) certain right of first refusal agreements and a put-call right agreement in accordance with the terms of the MTA and (v) to undertake certain related transactions in connection with or related to the foregoing. The Company expects to apply the proceeds of the VICI transactions to pay a portion of the cash consideration payable in the Merger and transaction expenses associated with the Merger and related transactions. On September 26, 2019, the Company and VICI entered into definitive Purchase and Sale Agreements to effect the purchase and sale of Harrah’s New Orleans, Harrah’s Laughlin and Harrah’s Atlantic City in connection with the transactions described in clause (i) of the preceding paragraph. The Company expects that the Merger and related transactions will be consummated in mid-2020.

Organization and Basis of Pre_2

Organization and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2020
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. The results of operations for these interim periods are not necessarily indicative of the operating results for other quarters, for the full year or any future period. The executive decision maker of our Company reviews operating results, assesses performance and makes decisions on a “significant market” basis. Management views each of our casinos as an operating segment. Operating segments are aggregated based on their similar economic characteristics, types of customers, types of services and products provided, and their management and reporting structure. The Company’s principal operating activities occur in five geographic regions and reportable segments. The reportable segments are based on the similar characteristics of the operating segments within the regions in which they operate: West, Midwest, South, East, and Central. See the table above for a listing of properties included in each segment. The presentation of financial information herein for periods after the Company’s sales of Presque and Nemacolin on January 11, 2019 and March 8, 2019, respectively, and the Company’s sales of Mountaineer, Cape Girardeau and Caruthersville on December 6, 2019 are not fully comparable to the periods prior to their respective sale dates. See Note 4. These unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019.
Recent Developments Related to COVID-19	Recent Developments Related to COVID-19 In January 2020, an outbreak of a new strain of coronavirus (“COVID-19”) was identified and has since spread throughout much of the world, including the United States. All of the Company’s casino properties have been temporarily closed since March 18, 2020 due to orders issued by various state government agencies in connection with the COVID-19 pandemic. As a result of these closures, the COVID-19 pandemic has had an adverse effect on the Company’s business, financial condition and results of operations for the three months ended March 31, 2020. The Company continued to pay its full-time employees through April 10, 2020, including tips and tokes. Effective April 11, 2020, the Company furloughed approximately 90% of its employees, implemented salary reductions and committed to continue to provide benefits to its employees through June 30, 2020. As a result of these payroll changes combined with other cost saving measures, the Company’s daily operating expenses reduced significantly. In an effort to maintain liquidity and provide financial flexibility as the effects of COVID-19 continue to evolve and impact global financial markets, the Company borrowed $465 million under its revolving credit facility on March 16, 2020. The extent of the ongoing and future effects of the COVID-19 pandemic on the Company’s business and the casino resort industry generally is uncertain, but the Company expects that it will continue to have a significant impact on its business, results of operations and financial condition. The extent and duration of the impact of COVID-19 will ultimately depend on future developments, including but not limited to, the duration and severity of the outbreak, the length of time that the Company’s casinos remain closed, the Company’s ability to adapt to new operating procedures upon re-opening of its casinos, the impact on consumer demand and discretionary spending, the length of time it takes for demand to return and the Company’s ability to adjust its cost structures for the duration of the outbreak’s impact on its operations. Due to declines in recent performance and the expected impact on future cash flows as a result of COVID-19, the Company recognized impairment charges related to goodwill and trade names for the three months ended March 31, 2020. See Note 7 for details.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Pronouncements Implemented in 2020 In June 2016 (modified in November 2018), the Financial Accounting Standards Board (“FASB”) issued ASU No 2016-13, Financial Instruments – Credit Losses related to the timing of recognizing impairment losses on financial assets. The new guidance lowers the threshold on when losses are incurred, from a determination that a loss is probable to a determination that a loss is expected. The change in guidance is applicable to our evaluation of the Casino Reinvestment Development Authority (“CRDA”) investments. The guidance is effective for interim and annual periods beginning after December 15, 2019. Adoption of the guidance required a modified-retrospective approach and a cumulative adjustment to retained earnings to the first reporting period that the update is effective. The Company adopted the new guidance on January 1, 2020. Adoption of this guidance did not have a material impact on the Company’s Consolidated Financial Statements. In August 2018, the FASB issued ASU 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract. This amendment aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal use software license). This generally means that an intangible asset is recognized for the software license and, to the extent that the payments attributable to the software license are made over time, a liability also is recognized. If a cloud computing arrangement does not include a software license, the entity should account for the arrangement as a service contract. This generally means that the fees associated with the hosting element (service) of the arrangement are expensed as incurred. The amendment was effective for annual and interim periods beginning after December 15, 2019. The Company adopted the new guidance on January 1, 2020. Adoption of this guidance did not have a material impact on the Company’s Consolidated Financial Statements. In August 2018, the FASB issued ASU 2018-13, Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement. This amendment modifies the disclosure requirements for fair value measurements and was effective for annual and interim periods beginning after December 15, 2019. The Company adopted the new guidance on January 1, 2020. Adoption of this guidance did not have a material impact on the Company’s Consolidated Financial Statements. Pronouncements To Be Implemented In Future Periods In August 2018, the FASB issued ASU No 2018-14, Compensation –Retirement Benefits – Defined Benefit Plans – General. This amendment improves disclosures over defined benefit plans and is effective for interim and annual periods ending after December 15, 2020 with early adoption allowed. The Company anticipates adopting this amendment during the first quarter of 2021, and currently does not expect it to have a significant impact on its Consolidated Financial Statements. In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes. This amendment modifies accounting guidelines for income taxes and is effective for annual and interim periods beginning after December 15, 2020 with early adoption allowed. The Company will adopt the new guidance on January 1, 2021. The Company is evaluating the qualitative and quantitative effect the new guidance will have on its Consolidated Financial Statements.

Organization and Basis of Pre_3

Organization and Basis of Presentation (Tables)	3 Months Ended
	Mar. 31, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Summary of Information Regarding Properties Listed by Segment	The following table sets forth certain information regarding our properties (listed by segment in which each property is reported) as of March 31, 2020: Segment Property Date Acquired State West Eldorado Resort Casino Reno ("Eldorado Reno") (a) Nevada Silver Legacy Resort Casino ("Silver Legacy") (a) Nevada Circus Circus Reno ("Circus Reno") (a) Nevada MontBleu Casino Resort & Spa ("MontBleu") October 1, 2018 (c) Nevada Tropicana Laughlin Hotel & Casino ("Laughlin") October 1, 2018 Nevada Isle Casino Hotel - Blackhawk ("Isle Black Hawk") May 1, 2017 Colorado Lady Luck Casino - Black Hawk ("Lady Luck Black Hawk") May 1, 2017 Colorado Midwest (b) Isle Casino Waterloo ("Waterloo") May 1, 2017 Iowa Isle Casino Bettendorf ("Bettendorf") May 1, 2017 Iowa Isle of Capri Casino Boonville ("Boonville") May 1, 2017 Missouri Isle of Capri Casino Kansas City ("Kansas City") May 1, 2017 (c) Missouri South Isle Casino Racing Pompano Park ("Pompano") May 1, 2017 Florida Eldorado Resort Casino Shreveport ("Eldorado Shreveport") (a) (c) Louisiana Isle of Capri Casino Hotel Lake Charles ("Lake Charles") May 1, 2017 Louisiana Belle of Baton Rouge Casino & Hotel ("Baton Rouge") October 1, 2018 Louisiana Isle of Capri Casino Lula ("Lula") May 1, 2017 Mississippi Lady Luck Casino Vicksburg ("Vicksburg") May 1, 2017 (c) Mississippi Trop Casino Greenville ("Greenville") October 1, 2018 Mississippi East (b) Eldorado Gaming Scioto Downs ("Scioto Downs") (a) Ohio Tropicana Casino and Resort, Atlantic City ("Trop AC") October 1, 2018 New Jersey Central Grand Victoria Casino ("Elgin") August 7, 2018 Illinois Lumière Place Casino ("Lumière") October 1, 2018 Missouri Tropicana Evansville ("Evansville") October 1, 2018 Indiana (a) Property was aggregated into segment prior to January 1, 2016. (b) Presque was sold on January 11, 2019, Nemacolin was sold on March 8, 2019 and Mountaineer was sold on December 6, 2019. All three properties were previously reported in the East segment. Cape Girardeau and Caruthersville were sold on December 6, 2019. Both properties were previously reported in the Midwest segment. (c) The Company entered into agreements to sell Kansas City, Vicksburg, Eldorado Shreveport and MontBleu. The Kansas City and Vicksburg sales are expected to close in the second quarter of 2020. The Eldorado Shreveport and MontBleu sales are expected to close in the first quarter of 2021.

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Components of Lease Expense	The components of lease expense are as follows (in thousands): Classification on the Three Months Ended Three Months Ended Statement of Operations March 31, 2020 March 31, 2019 Operating lease expense: Operating lease expense Operating expense $ 4,448 $ 4,052 Short-term and variable lease expense Operating expense 8,804 11,814 Finance lease expense: Interest expense on lease liabilities Interest expense, net 24,821 24,603 Amortization of ROU assets Depreciation and amortization expense 4,089 2,511 Total lease expense $ 42,162 $ 42,980
Supplemental Cash Flow Information Related to Leases	Supplemental cash flow information related to leases is as follows (in thousands): Three Months Ended Three Months Ended March 31, 2020 March 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 5,246 $ 5,248 Operating cash flows for finance leases $ 22,298 $ 22,029

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2020
Disaggregation Of Revenue [Line Items]
Summary of Activity Related to Contract and Contract Related Liabilities	The following table summarizes the activity related to contract and contract-related liabilities (in thousands): Outstanding Chip Liability Player Loyalty Liability Customer Deposits and Other Deferred Revenue 2020 2019 2020 2019 2020 2019 Balance at January 1 $ 9,770 $ 8,930 $ 13,461 $ 17,639 $ 171,641 $ 27,588 Balance at March 31 7,166 8,775 12,336 17,285 172,027 175,915 Increase / (decrease) $ (2,604 ) $ (155 ) $ (1,125 ) $ (354 ) $ 386 $ 148,327
Adoption of ASC Topic 606
Disaggregation Of Revenue [Line Items]
Summary of Net Revenues Disaggregated Type of Revenue and Reportable Segment	The Company’s consolidated statement of operations presents net revenue disaggregated by type or nature of the good or service. A summary of net revenues disaggregated by type of revenue and reportable segment is presented below (amounts in thousands). Refer to Notes 1 and 15 for additional information on the Company’s reportable segments. Three Months Ended March 31, 2020 West Midwest South East Central Corporate and Other Total Casino $ 44,977 $ 53,313 $ 79,652 $ 79,931 $ 81,876 $ — $ 339,749 Food and beverage 23,583 3,399 10,651 9,464 9,149 — 56,246 Hotel 21,845 2,544 4,934 13,560 5,493 — 48,376 Other 15,085 1,537 1,815 5,101 3,187 1,973 28,698 Net revenues $ 105,490 $ 60,793 $ 97,052 $ 108,056 $ 99,705 $ 1,973 $ 473,069 Three Months Ended March 31, 2019 West Midwest South East Central Corporate and Other Total Casino $ 53,406 $ 85,169 $ 109,350 $ 124,951 $ 97,810 $ — $ 470,686 Food and beverage 27,978 6,087 14,709 14,721 11,786 — 75,281 Hotel 27,508 3,622 6,337 19,997 7,320 — 64,784 Other 9,203 1,909 2,318 6,564 3,556 1,522 25,072 Net revenues $ 118,095 $ 96,787 $ 132,714 $ 166,233 $ 120,472 $ 1,522 $ 635,823

Assets Held for Sale (Tables)

Assets Held for Sale (Tables)	3 Months Ended
	Mar. 31, 2020
Kansas City, Vicksburg, Eldorado Shreveport and MontBleu
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Schedule of Assets and Liabilities Held for Sale, Accounted Carrying Value Lower than Fair Value and Information of Net Operating Revenues and Net Income (Loss)	The assets and liabilities held for sale, accounted for at carrying value as it was lower than fair value, were as follows as of March 31, 2020 (in thousands): March 31, 2020 Shreveport MontBleu Kansas City Vicksburg Total Assets: Accounts receivable, net $ 1,760 $ 882 $ 361 $ 174 $ 3,177 Due from affiliates — 157 — (15 ) 142 Inventories 1,016 596 43 129 1,784 Right-of-use assets 12,156 27,720 36,776 — 76,652 Prepaid expenses and other 956 1,222 334 4,186 6,698 Property and equipment, net 85,010 36,317 39,148 31,493 191,968 Goodwill — — 39,623 8,806 48,429 Other intangibles, net 20,574 — 90,329 2,708 113,611 Assets held for sale $ 121,472 $ 66,894 $ 206,614 $ 47,481 $ 442,461 Liabilities: Accounts payable $ 596 $ 659 $ 147 $ 91 $ 1,493 Accrued payroll and related 2,381 1,248 723 421 4,773 Accrued property and other taxes 805 200 145 216 1,366 Short-term lease obligation 1,086 5,354 1,528 — 7,968 Long-term lease obligations 13,228 63,017 33,721 — 109,966 Accrued other liabilities 2,397 2,284 891 252 5,824 Other long-term liabilities 60 23 168 31 282 Liabilities related to assets held for sale $ 20,553 $ 72,785 $ 37,323 $ 1,011 $ 131,672 The assets and liabilities held for sale, accounted for at carrying value as it was lower than fair value, were as follows as of December 31, 2019 (in thousands): December 31, 2019 Kansas City Vicksburg Total Assets: Accounts receivable, net $ 285 $ 75 $ 360 Inventories 52 119 171 Right-of-use assets 36,135 — 36,135 Prepaid expenses and other 216 4,168 4,384 Property and equipment, net 39,126 31,493 70,619 Goodwill 39,623 8,806 48,429 Other intangibles, net 90,329 2,708 93,037 Assets held for sale $ 205,766 $ 47,369 $ 253,135 Liabilities: Accounts payable $ 307 $ 188 $ 495 Accrued payroll and related 567 327 894 Accrued property and other taxes 26 891 917 Short-term lease obligation 764 — 764 Long-term lease obligation 33,080 — 33,080 Accrued other liabilities 1,055 280 1,335 Liabilities related to assets held for sale $ 35,799 $ 1,686 $ 37,485 The following information presents the net revenues and net income (loss) for the Company’s properties that are held for sale (in thousands): Three Months ended March 31, 2020 Shreveport MontBleu Kansas City Vicksburg Net revenues $ 22,550 $ 8,617 $ 13,748 $ 4,530 Net income (loss) 1,679 (42,164 ) 3,214 (473 )
Mountaineer, Caruthersville and Cape Girardeau
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Schedule of Assets and Liabilities Held for Sale, Accounted Carrying Value Lower than Fair Value and Information of Net Operating Revenues and Net Income (Loss)	The following information presents the net revenues and net income of Mountaineer, Cape Girardeau and Caruthersville for the three months ended March 31, 2019 (in thousands): Three Months ended March 31, 2019 Mountaineer Cape Girardeau Caruthersville Net revenues $ 30,165 $ 15,401 $ 8,927 Net income 1,623 2,114 1,780
Presque and Nemacolin
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Schedule of Assets and Liabilities Held for Sale, Accounted Carrying Value Lower than Fair Value and Information of Net Operating Revenues and Net Income (Loss)	The following information presents the net revenues and net income (loss) of Presque and Nemacolin prior to the respective divestitures (in thousands): Three Months ended March 31, 2019 Presque Nemacolin Net revenues $ 3,235 $ 4,836 Net loss (42 ) (754 )

Stock-Based Compensation and _2

Stock-Based Compensation and Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2020
Share Based Compensation [Abstract]
Schedule of Share-based Compensation, Restricted Stock Units Activity	A summary of the restricted stock unit (“RSU”) activity for the three months ended March 31, 2020 is presented in the following table: Restricted Stock Units Units Weighted- Average Grant Date Fair Value (in millions) Unvested outstanding as of December 31, 2019 1,246,641 $ 35.56 Granted (1) 293,367 57.73 Vested (371,108 ) 24.05 Forfeited (8,333 ) 42.13 Unvested outstanding as of March 31, 2020 1,160,567 $ 45.10 (1) Included are 20,615 RSUs granted to non-employee members of the Board of Directors during the three months ended March 31, 2020.

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	3 Months Ended
	Mar. 31, 2020
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, 2020 2019 Useful Life Goodwill $ 810,187 $ 909,717 Indefinite Gaming licenses $ 872,158 $ 893,302 Indefinite Trade names 146,279 165,479 Indefinite Player loyalty programs 97,935 100,694 3 - 4 years Subtotal 1,116,372 1,159,475 Accumulated amortization player loyalty programs (53,203 ) (48,077 ) Total gaming licenses and other intangible assets, net $ 1,063,169 $ 1,111,398
Schedule of Change in Goodwill	The following table presents the change to goodwill for the three months ended March 31, 2020 (in thousands): Goodwill Accumulated Impairment Goodwill, net December 31, 2019 $ 921,408 $ (11,691 ) $ 909,717 Impairments — (99,530 ) (99,530 ) Assets held for sale (see Note 4) (5 ) 5 — March 31, 2020 $ 921,403 $ (111,216 ) $ 810,187
Schedule of Impairment Charges Recorded by Segment	Impairment charges recorded by segment for the three months ended March 31, 2020 (in thousands) were as follows: West South Midwest Total Goodwill $ 52,805 $ 15,625 $ 31,100 $ 99,530 Trade names 8,990 5,700 5,500 20,190 Property, plant and equipment (see Note 4) 23,228 — — 23,228 Right of use assets (see Note 4) 17,810 — — 17,810 $ 102,833 $ 21,325 $ 36,600 $ 160,758

Long-Term Financing Obligation

Long-Term Financing Obligation (Tables)	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Schedule of Future Minimum Payments Related to Master Lease Financing Obligation	The future minimum payments related to the Master Lease financing obligation with GLPI at March 31, 2020 were as follows (in thousands): 2020 (excluding the three months ended March 31, 2020) 66,953 2021 90,417 2022 91,691 2023 92,990 2024 94,315 Thereafter 3,412,357 Total future payments 3,848,723 Less: Amounts representing interest at 10.2% (3,295,701 ) Plus: Residual values 420,100 Financing obligation to GLPI $ 973,122

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Summary of Long-term Debt	Long‑term debt consisted of the following (in thousands): March 31, December 31, 2020 2019 Term Loan $ 488,750 $ 498,750 Less: Unamortized discount and debt issuance costs (7,407 ) (7,982 ) Net 481,343 490,768 6% Senior Notes due 2026 600,000 600,000 Less: Unamortized debt issuance costs (17,420 ) (17,958 ) Net 582,580 582,042 6% Senior Notes due 2025 875,000 875,000 Plus: Unamortized debt premium 19,368 20,214 Less: Unamortized debt issuance costs (15,296 ) (15,939 ) Net 879,072 879,275 7% Senior Notes due 2023 375,000 375,000 Less: Unamortized discount and debt issuance costs (4,642 ) (4,923 ) Net 370,358 370,077 Revolving Credit Facility 465,000 — Lumière Loan 246,000 246,000 Long-term notes and other payables 2,447 2,554 Less: Current portion (246,109 ) (246,175 ) Total long-term debt $ 2,780,691 $ 2,324,541

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2020
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, 2020 and December 31, 2019 (amounts in thousands): March 31, 2020 Assets: Level 1 Level 2 Level 3 Total Restricted cash and investments $ 11,036 $ 2,115 $ 14,011 $ 27,162 Marketable securities 24,301 7,084 — 31,385 December 31, 2019 Assets: Level 1 Level 2 Level 3 Total Restricted cash and investments $ 11,276 $ 2,050 $ 29,283 $ 42,609 Marketable securities 27,103 7,531 — 34,634
Schedule of Change in Restricted Investments Valued Using Level 3 Inputs	The change in restricted cash and investments valued using Level 3 inputs for the three months ended March 31, 2020 is as follows: Level 3 Investments Fair value of investment and liabilities at December 31, 2019 $ 29,283 Value of additional investment received 4,678 Unrealized loss (19,950 ) Fair value at March 31, 2020 $ 14,011
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, 2020 December 31, 2019 Carrying Fair Carrying Fair Amount Value Amount Value Financial liabilities: 7% Senior Notes due 2023 $ 370,358 $ 327,656 $ 370,077 $ 390,938 6% Senior Notes due 2025 879,072 765,625 879,275 922,031 6% Senior Notes due 2026 582,580 552,000 582,042 662,250 Term Loan 481,343 422,769 490,768 498,127 Revolving Credit Facility 465,000 465,000 — — Lumière Loan 246,000 246,000 246,000 246,000 Other long-term debt 2,447 2,447 2,553 2,553

Earnings per Share (Tables)

Earnings per Share (Tables)	3 Months Ended
	Mar. 31, 2020
Earnings Per Share Basic And Diluted [Abstract]
Schedule of Reconciliation of the Numerators and Denominators of the Basic and Diluted Net Income Per Share Computations	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, 2020 and 2019 (dollars in thousands, except per share amounts): Three Months Ended March 31, 2020 2019 Net (loss) income available to common stockholders $ (175,638 ) $ 38,229 Shares outstanding: Weighted average shares outstanding – basic 77,954,038 77,567,147 Effect of dilutive securities: Stock options — 104,382 RSUs — 917,581 Weighted average shares outstanding – diluted 77,954,038 78,589,110 Net (loss) income per common share attributable to common stockholders – basic: $ (2.25 ) $ 0.49 Net (loss) income per common share attributable to common stockholders – diluted: $ (2.25 ) $ 0.49

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Schedule of Operating Data for Reportable Segments	The following table sets forth, for the periods indicated, certain operating data for our five reportable segments. Three Months Ended March 31, 2020 2019 (in thousands) Revenues and expenses West: Net revenues $ 105,490 $ 118,095 Depreciation and amortization 13,938 13,143 Operating (loss) income (97,457 ) 10,801 Midwest: Net revenues 60,793 96,787 Depreciation and amortization 4,522 8,421 Operating (loss) income (19,354 ) 27,833 South: Net revenues 97,052 132,714 Depreciation and amortization 7,120 11,015 Operating (loss) income (11,194 ) 27,515 East: Net revenues 108,056 166,233 Depreciation and amortization 11,241 12,149 Operating income 11,016 27,161 Central: Net revenues 99,705 120,472 Depreciation and amortization 11,763 11,210 Operating income 18,114 27,070 Corporate: Net revenues 1,973 1,522 Depreciation and amortization 1,849 1,819 Operating (loss) income (24,305 ) 3,224 Total Reportable Segments Net revenues $ 473,069 $ 635,823 Depreciation and amortization $ 50,433 $ 57,757 Operating (loss) income $ (123,180 ) $ 123,604 Reconciliations to consolidated net income: Operating (loss) income $ (123,180 ) $ 123,604 Unallocated (loss) income and expenses: Interest expense, net (66,464 ) (73,510 ) Loss on extinguishment of debt (158 ) — Unrealized loss on investments and marketable securities (23,008 ) (1,460 ) Benefit (provision) for income taxes 37,172 (10,405 ) Net (loss) income $ (175,638 ) $ 38,229
Schedule of Capital Expenditures, Net for Reportable Segments	Three Months Ended March 31, 2020 2019 (in thousands) Capital Expenditures, Net West $ 8,586 $ 16,054 Midwest 1,636 4,123 South 3,780 3,764 East 5,597 10,574 Central 2,447 2,668 Corporate 1,155 1,177 Total $ 23,201 $ 38,360
Schedule of Balance Sheet Information for Reportable Segments	Balance sheet as of March 31, 2020 2019 (in thousands) Total Assets West $ 1,659,542 $ 1,816,033 Midwest 1,119,005 1,157,882 South 1,129,003 1,161,622 East 1,573,068 1,590,364 Central 1,546,207 1,539,894 Corporate, Other and Eliminations (1,135,653 ) (1,625,242 ) Total $ 5,891,172 $ 5,640,553

Organization and Basis of Pre_4

Organization and Basis of Presentation - Additional Information (Details)	Apr. 24, 2020USD ($)	Mar. 31, 2020FacilityStatepropertyGameHotelRegionsegment	Apr. 11, 2020	Mar. 16, 2020USD ($)	Oct. 01, 2018property	Apr. 17, 2017USD ($)	Nov. 24, 2015
Organization and Basis of Presentation
Number of gaming facilities | Facility		23
Number of states gaming facilities are located | State		11
Number of slot machines and video lottery terminals		23,900
Number of table games | Game		660
Number of room in hotel | Hotel		11,300
Number of geographic regions | Region		5
Number of reportable segments | segment		5
Revolving Credit Facility
Organization and Basis of Presentation
Credit facility | $				$ 465,000,000		$ 500,000,000
Subsequent Event
Organization and Basis of Presentation
Percentage of furloughed employees due to COVID-19 pandemic			90.00%
Eldorado Resort Casino Shreveport Joint Venture and Columbia Properties Tahoe, LLC | Subsequent Event
Organization and Basis of Presentation
Aggregate consideration subject to working capital adjustments | $	$ 155,000,000
Isle of Capri
Organization and Basis of Presentation
Acquisition date		May 1, 2017
Number of properties added to portfolio		13
Elgin Riverboat Resort
Organization and Basis of Presentation
Acquisition date		Aug. 7, 2018
Tropicana Entertainment Inc
Organization and Basis of Presentation
Acquisition date		Oct. 1, 2018
Number of properties added to portfolio					7
Silver Legacy Joint Venture
Organization and Basis of Presentation
Ownership interest							50.00%

Organization and Basis of Pre_5

Organization and Basis of Presentation - Summary of Information Regarding Properties Listed by Segment (Details)	3 Months Ended
	Mar. 31, 2020
West Segment | Eldorado Reno | NEVADA
Segment Reporting Information [Line Items]
Property	Eldorado Resort Casino Reno ("Eldorado Reno")
State	Nevada
West Segment | Silver Legacy | NEVADA
Segment Reporting Information [Line Items]
Property	Silver Legacy Resort Casino ("Silver Legacy")
State	Nevada
West Segment | Circus Reno | NEVADA
Segment Reporting Information [Line Items]
Property	Circus Circus Reno ("Circus Reno")
State	Nevada
West Segment | MontBleu | NEVADA
Segment Reporting Information [Line Items]
Property	MontBleu Casino Resort & Spa ("MontBleu")
Date Acquired	Oct. 1, 2018
State	Nevada
West Segment | Laughlin | NEVADA
Segment Reporting Information [Line Items]
Property	Tropicana Laughlin Hotel & Casino ("Laughlin")
Date Acquired	Oct. 1, 2018
State	Nevada
West Segment | Isle Black Hawk | COLORADO
Segment Reporting Information [Line Items]
Property	Isle Casino Hotel - Blackhawk ("Isle Black Hawk")
Date Acquired	May 1, 2017
State	Colorado
West Segment | Lady Luck Black Hawk | COLORADO
Segment Reporting Information [Line Items]
Property	Lady Luck Casino - Black Hawk ("Lady Luck Black Hawk")
Date Acquired	May 1, 2017
State	Colorado
Midwest Segment | Waterloo | IOWA
Segment Reporting Information [Line Items]
Property	Isle Casino Waterloo ("Waterloo")
Date Acquired	May 1, 2017
State	Iowa
Midwest Segment | Bettendorf | IOWA
Segment Reporting Information [Line Items]
Property	Isle Casino Bettendorf ("Bettendorf")
Date Acquired	May 1, 2017
State	Iowa
Midwest Segment | Boonville | Missouri
Segment Reporting Information [Line Items]
Property	Isle of Capri Casino Boonville ("Boonville")
Date Acquired	May 1, 2017
State	Missouri
Midwest Segment | Kansas City | Missouri
Segment Reporting Information [Line Items]
Property	Isle of Capri Casino Kansas City ("Kansas City")
Date Acquired	May 1, 2017
State	Missouri
South Segment | Pompano | FLORIDA
Segment Reporting Information [Line Items]
Property	Isle Casino Racing Pompano Park ("Pompano")
Date Acquired	May 1, 2017
State	Florida
South Segment | Eldorado Shreveport | LOUISIANA
Segment Reporting Information [Line Items]
Property	Eldorado Resort Casino Shreveport ("Eldorado Shreveport")
State	Louisiana
South Segment | Lake Charles | LOUISIANA
Segment Reporting Information [Line Items]
Property	Isle of Capri Casino Hotel Lake Charles ("Lake Charles")
Date Acquired	May 1, 2017
State	Louisiana
South Segment | Baton Rouge | LOUISIANA
Segment Reporting Information [Line Items]
Property	Belle of Baton Rouge Casino & Hotel ("Baton Rouge")
Date Acquired	Oct. 1, 2018
State	Louisiana
South Segment | Lula | MISSISSIPPI
Segment Reporting Information [Line Items]
Property	Isle of Capri Casino Lula ("Lula")
Date Acquired	May 1, 2017
State	Mississippi
South Segment | Vicksburg | MISSISSIPPI
Segment Reporting Information [Line Items]
Property	Lady Luck Casino Vicksburg ("Vicksburg")
Date Acquired	May 1, 2017
State	Mississippi
South Segment | Greenville | MISSISSIPPI
Segment Reporting Information [Line Items]
Property	Trop Casino Greenville ("Greenville")
Date Acquired	Oct. 1, 2018
State	Mississippi
East Segment | Scioto Downs | OHIO
Segment Reporting Information [Line Items]
Property	Eldorado Gaming Scioto Downs ("Scioto Downs")
State	Ohio
East Segment | Trop AC | NEW JERSEY
Segment Reporting Information [Line Items]
Property	Tropicana Casino and Resort, Atlantic City ("Trop AC")
Date Acquired	Oct. 1, 2018
State	New Jersey
Central Segment | Elgin | ILLINOIS
Segment Reporting Information [Line Items]
Property	Grand Victoria Casino ("Elgin")
Date Acquired	Aug. 7, 2018
State	Illinois
Central Segment | Lumière | Missouri
Segment Reporting Information [Line Items]
Property	Lumière Place Casino ("Lumière")
Date Acquired	Oct. 1, 2018
State	Missouri
Central Segment | Tropicana Evansville | Indiana
Segment Reporting Information [Line Items]
Property	Tropicana Evansville ("Evansville")
Date Acquired	Oct. 1, 2018
State	Indiana

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating Expenses
Lessee Lease Description [Line Items]
Short-term and variable lease expense	$ 8,804	$ 11,814
Minimum
Lessee Lease Description [Line Items]
Options to extend lease term	1 month
Maximum
Lessee Lease Description [Line Items]
Options to extend lease term	60 years

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Finance lease expense:
Total lease expense	$ 42,162	$ 42,980
Operating Expenses
Operating lease expense:
Operating lease expense	4,448	4,052
Short-term and variable lease expense	8,804	11,814
Interest Expense, Net
Finance lease expense:
Interest expense on lease liabilities	24,821	24,603
Depreciation and Amortization Expense
Finance lease expense:
Amortization of ROU assets	$ 4,089	$ 2,511

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$ 5,246	$ 5,248
Operating cash flows for finance leases	$ 22,298	$ 22,029

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, 2020	Mar. 31, 2019
Disaggregation Of Revenue [Line Items]
Net revenues	$ 473,069	$ 635,823
Casino
Disaggregation Of Revenue [Line Items]
Net revenues	339,749	470,686
Food and Beverage
Disaggregation Of Revenue [Line Items]
Net revenues	56,246	75,281
Hotel
Disaggregation Of Revenue [Line Items]
Net revenues	48,376	64,784
Other
Disaggregation Of Revenue [Line Items]
Net revenues	28,698	25,072
Corporate
Disaggregation Of Revenue [Line Items]
Net revenues	1,973	1,522
Corporate | Other
Disaggregation Of Revenue [Line Items]
Net revenues	1,973	1,522
West Segment | Operating Segment
Disaggregation Of Revenue [Line Items]
Net revenues	105,490	118,095
West Segment | Operating Segment | Casino
Disaggregation Of Revenue [Line Items]
Net revenues	44,977	53,406
West Segment | Operating Segment | Food and Beverage
Disaggregation Of Revenue [Line Items]
Net revenues	23,583	27,978
West Segment | Operating Segment | Hotel
Disaggregation Of Revenue [Line Items]
Net revenues	21,845	27,508
West Segment | Operating Segment | Other
Disaggregation Of Revenue [Line Items]
Net revenues	15,085	9,203
Midwest Segment | Operating Segment
Disaggregation Of Revenue [Line Items]
Net revenues	60,793	96,787
Midwest Segment | Operating Segment | Casino
Disaggregation Of Revenue [Line Items]
Net revenues	53,313	85,169
Midwest Segment | Operating Segment | Food and Beverage
Disaggregation Of Revenue [Line Items]
Net revenues	3,399	6,087
Midwest Segment | Operating Segment | Hotel
Disaggregation Of Revenue [Line Items]
Net revenues	2,544	3,622
Midwest Segment | Operating Segment | Other
Disaggregation Of Revenue [Line Items]
Net revenues	1,537	1,909
South Segment | Operating Segment
Disaggregation Of Revenue [Line Items]
Net revenues	97,052	132,714
South Segment | Operating Segment | Casino
Disaggregation Of Revenue [Line Items]
Net revenues	79,652	109,350
South Segment | Operating Segment | Food and Beverage
Disaggregation Of Revenue [Line Items]
Net revenues	10,651	14,709
South Segment | Operating Segment | Hotel
Disaggregation Of Revenue [Line Items]
Net revenues	4,934	6,337
South Segment | Operating Segment | Other
Disaggregation Of Revenue [Line Items]
Net revenues	1,815	2,318
East Segment | Operating Segment
Disaggregation Of Revenue [Line Items]
Net revenues	108,056	166,233
East Segment | Operating Segment | Casino
Disaggregation Of Revenue [Line Items]
Net revenues	79,931	124,951
East Segment | Operating Segment | Food and Beverage
Disaggregation Of Revenue [Line Items]
Net revenues	9,464	14,721
East Segment | Operating Segment | Hotel
Disaggregation Of Revenue [Line Items]
Net revenues	13,560	19,997
East Segment | Operating Segment | Other
Disaggregation Of Revenue [Line Items]
Net revenues	5,101	6,564
Central Segment | Operating Segment
Disaggregation Of Revenue [Line Items]
Net revenues	99,705	120,472
Central Segment | Operating Segment | Casino
Disaggregation Of Revenue [Line Items]
Net revenues	81,876	97,810
Central Segment | Operating Segment | Food and Beverage
Disaggregation Of Revenue [Line Items]
Net revenues	9,149	11,786
Central Segment | Operating Segment | Hotel
Disaggregation Of Revenue [Line Items]
Net revenues	5,493	7,320
Central Segment | Operating Segment | Other
Disaggregation Of Revenue [Line Items]
Net revenues	$ 3,187	$ 3,556

Revenue Recognition - Summary_2

Revenue Recognition - Summary of Activity Related to Contract and Contract Related Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Outstanding Chip Liability
Disaggregation Of Revenue [Line Items]
Balance at January 1	$ 9,770	$ 8,930
Balance at March 31	7,166	8,775
Increase / (decrease)	(2,604)	(155)
Player Loyalty Liability
Disaggregation Of Revenue [Line Items]
Balance at January 1	13,461	17,639
Balance at March 31	12,336	17,285
Increase / (decrease)	(1,125)	(354)
Customer Deposits And Other Deferred Revenue
Disaggregation Of Revenue [Line Items]
Balance at January 1	171,641	27,588
Balance at March 31	172,027	175,915
Increase / (decrease)	$ 386	$ 148,327

Assets Held for Sale - Addition

Assets Held for Sale - Additional Information (Details) - USD ($) $ in Thousands	Apr. 24, 2020	Jul. 10, 2019	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Impairment charges			$ 160,758	$ 958
Right-of-use assets			129,889		$ 188,219
Property and equipment, net			2,455,332		$ 2,614,524
MontBleu
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Impairment charges			45,600
Right-of-use assets			17,800
Property and equipment, net			23,200
Goodwill and other intangibles			4,600
Presque
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Gain (loss) on sale			22,100
Eldorado Resort Casino Shreveport Joint Venture and Columbia Properties Tahoe, LLC | Subsequent Event
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Aggregate consideration subject to working capital adjustments	$ 155,000
Nemacolin
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Gain (loss) on sale			$ 100
Twin River Worldwide Holdings Inc
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Purchase consideration		$ 230,000

Assets Held for Sale - Schedule

Assets Held for Sale - Schedule of Assets and Liabilities Held for Sale, Accounted Carrying Value Lower than Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
ASSETS
Assets held for sale	$ 442,461	$ 253,135
Liabilities:
Liabilities related to assets held for sale	131,672	37,485
Disposal Group, Held-for-sale, Not Discontinued Operations
ASSETS
Accounts receivable, net	3,177	360
Due from affiliates	142
Inventories	1,784	171
Right-of-use assets	76,652	36,135
Prepaid expenses and other	6,698	4,384
Property and equipment, net	191,968	70,619
Goodwill	48,429	48,429
Other intangibles, net	113,611	93,037
Assets held for sale	442,461	253,135
Liabilities:
Accounts payable	1,493	495
Accrued payroll and related	4,773	894
Accrued property and other taxes	1,366	917
Short-term lease obligation	7,968	764
Long-term lease obligations	109,966	33,080
Accrued other liabilities	5,824	1,335
Other long-term liabilities	282
Liabilities related to assets held for sale	131,672	37,485
Shreveport | Disposal Group, Held-for-sale, Not Discontinued Operations
ASSETS
Accounts receivable, net	1,760
Inventories	1,016
Right-of-use assets	12,156
Prepaid expenses and other	956
Property and equipment, net	85,010
Other intangibles, net	20,574
Assets held for sale	121,472
Liabilities:
Accounts payable	596
Accrued payroll and related	2,381
Accrued property and other taxes	805
Short-term lease obligation	1,086
Long-term lease obligations	13,228
Accrued other liabilities	2,397
Other long-term liabilities	60
Liabilities related to assets held for sale	20,553
MontBleu | Disposal Group, Held-for-sale, Not Discontinued Operations
ASSETS
Accounts receivable, net	882
Due from affiliates	157
Inventories	596
Right-of-use assets	27,720
Prepaid expenses and other	1,222
Property and equipment, net	36,317
Assets held for sale	66,894
Liabilities:
Accounts payable	659
Accrued payroll and related	1,248
Accrued property and other taxes	200
Short-term lease obligation	5,354
Long-term lease obligations	63,017
Accrued other liabilities	2,284
Other long-term liabilities	23
Liabilities related to assets held for sale	72,785
Kansas City | Disposal Group, Held-for-sale, Not Discontinued Operations
ASSETS
Accounts receivable, net	361	285
Inventories	43	52
Right-of-use assets	36,776	36,135
Prepaid expenses and other	334	216
Property and equipment, net	39,148	39,126
Goodwill	39,623	39,623
Other intangibles, net	90,329	90,329
Assets held for sale	206,614	205,766
Liabilities:
Accounts payable	147	307
Accrued payroll and related	723	567
Accrued property and other taxes	145	26
Short-term lease obligation	1,528	764
Long-term lease obligations	33,721	33,080
Accrued other liabilities	891	1,055
Other long-term liabilities	168
Liabilities related to assets held for sale	37,323	35,799
Vicksburg | Disposal Group, Held-for-sale, Not Discontinued Operations
ASSETS
Accounts receivable, net	174	75
Due from affiliates	(15)
Inventories	129	119
Prepaid expenses and other	4,186	4,168
Property and equipment, net	31,493	31,493
Goodwill	8,806	8,806
Other intangibles, net	2,708	2,708
Assets held for sale	47,481	47,369
Liabilities:
Accounts payable	91	188
Accrued payroll and related	421	327
Accrued property and other taxes	216	891
Accrued other liabilities	252	280
Other long-term liabilities	31
Liabilities related to assets held for sale	$ 1,011	$ 1,686

Assets Held for Sale - Schedu_2

Assets Held for Sale - Schedule of Information of Net Revenues and Net Income (Loss) (Details) - Disposal Group, Held-for-sale, Not Discontinued Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Shreveport
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Net revenues	$ 22,550
Net income (loss)	1,679
MontBleu
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Net revenues	8,617
Net income (loss)	(42,164)
Kansas City
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Net revenues	13,748
Net income (loss)	3,214
Vicksburg
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Net revenues	4,530
Net income (loss)	$ (473)
Mountaineer
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Net revenues		$ 30,165
Net income (loss)		1,623
Cape Girardeau
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Net revenues		15,401
Net income (loss)		2,114
Caruthersville
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Net revenues		8,927
Net income (loss)		1,780
Presque
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Net revenues		3,235
Net income (loss)		(42)
Nemacolin
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Net revenues		4,836
Net income (loss)		$ (754)

Stock-Based Compensation and _3

Stock-Based Compensation and Stockholders' Equity - Additional Information (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2018	Nov. 30, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	$ 5,742,000	$ 4,948,000
Increase (reduction) in income tax benefit related to stock based compensation	$ 2,800,000	(2,600,000)
Options outstanding, shares	135,956
Options exercisable, shares	125,331
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation expense	$ 34,200,000	$ 28,600,000
Recognition period of unrecognized compensation cost	1 year 10 months 24 days	1 year 10 months 24 days
Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock repurchase program, authorized amount					$ 150,000,000
Common stock shares acquired	0		0	223,823
Common stock acquired value				$ 9,100,000
Common stock acquired average price per share				$ 40.80

Stock-Based Compensation and _4

Stock-Based Compensation and Stockholders' Equity - Schedule of Share-based Compensation, Restricted Stock Units Activity (Details) - Restricted Stock Units (RSUs)	3 Months Ended
	Mar. 31, 2020$ / sharesshares
Restricted Stock Units
Outstanding at the beginning of the Period (in shares) | shares	1,246,641
Granted (in shares) | shares	293,367
Vested (in shares) | shares	(371,108)
Forfeited (in shares) | shares	(8,333)
Outstanding at the end of the Period (in shares) | shares	1,160,567
Weighted-Average Grant Date Fair Value
Unvested outstanding as of beginning of period | $ / shares	$ 35.56
Granted | $ / shares	57.73
Vested | $ / shares	24.05
Forfeited | $ / shares	42.13
Unvested outstanding as of end of period | $ / shares	$ 45.10

Stock-Based Compensation and _5

Stock-Based Compensation and Stockholders' Equity - Schedule of Share-based Compensation, Restricted Stock Units Activity (Parenthetical) (Details) - Restricted Stock Units (RSUs)	3 Months Ended
	Mar. 31, 2020shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
RSUs granted	293,367
Non-Employee Members of BOD
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
RSUs granted	20,615

Investments in and Advances t_2

Investments in and Advances to Unconsolidated Affiliates - Additional Information (Details) shares in Millions	Jan. 29, 2019USD ($)	Sep. 30, 2018	Apr. 30, 2018USD ($)a	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2019USD ($)a	Jan. 31, 2019shares
Investment in Unconsolidated Affiliates
Receivable from partnership				$ 696,000		$ 3,806,000
Investments in and advance to affiliates, subsidiaries, associates, and joint ventures				135,898,000		$ 135,828,000
Unrealized loss on investments				(23,008,000)	$ (1,460,000)
Pompano Joint Venture
Investment in Unconsolidated Affiliates
Cash contributions in joint venture			$ 500,000
Land | a			20			20
Fair value of land			$ 6,600,000			$ 6,600,000
Variable interest entity, ownership percentage			50.00%
Pompano Joint Venture | Maximum
Investment in Unconsolidated Affiliates
Additional contributions cap in joint venture			$ 2,000,000
Land | a			200
Pompano Joint Venture | Minimum
Investment in Unconsolidated Affiliates
Land | a			130
Cordish | Pompano Joint Venture
Investment in Unconsolidated Affiliates
Cash contributions in joint venture			$ 500,000
Additional contributions cap per member in joint venture			$ 1,000,000
William Hill
Investment in Unconsolidated Affiliates
Agreement period		25 years
Agreement effective date	Jan. 29, 2019
Percentage of equity stake							20.00%
Equity stake value in ordinary shares | shares							13.4
Receivable from partnership				$ 600,000		3,500,000
Recognizing revenue on straight-line basis over a period				25 years
Recognized revenue				$ 1,500,000	200,000
William Hill | Other Long Term Liabilities
Investment in Unconsolidated Affiliates
Deferred revenue				140,600,000		142,100,000
William Hill US
Investment in Unconsolidated Affiliates
Fair value of initial investment	$ 128,900,000
Investments in and advance to affiliates, subsidiaries, associates, and joint ventures				127,200,000		127,100,000
William Hill PLC
Investment in Unconsolidated Affiliates
Fair value of restricted investments				10,000,000		29,300,000
Cumulative unrealized loss				17,400,000
Cumulative unrealized gain						$ 2,100,000
Unrealized loss on investments				$ 19,300,000	$ 2,900,000

Intangible Assets, Net - Additi

Intangible Assets, Net - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Goodwill impairment	$ 99,530
Impairment charges	160,758	$ 958
Player Loyalty Program
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Amortization expense	7,500	$ 7,600
Remainder of 2020	20,600
2021	21,200
2022	4,200
MontBleu
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Impairment charges	45,600
MontBleu | Asset Held For Sale
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Impairment charges	45,600
Trade Names
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Impairment of intangible assets	$ 15,600

Intangible Assets, Net - Schedu

Intangible Assets, Net - Schedule of Other and Intangible Assets, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Goodwill	$ 810,187	$ 909,717
Goodwill, useful life	Indefinite
Intangible assets, excluding goodwill - gross	$ 1,116,372	1,159,475
Total gaming licenses and other intangible assets, net	1,063,169	1,111,398
Player Loyalty Program
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Finite-intangible assets, excluding goodwill - gross	97,935	100,694
Accumulated amortization	$ (53,203)	(48,077)
Player Loyalty Program | Minimum
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Finite-lived intangible asset, useful life	3 years
Player Loyalty Program | Maximum
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Finite-lived intangible asset, useful life	4 years
Trade Names-Indefinite
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Indefinite intangible assets, useful life	Indefinite
Indefinite intangible assets, excluding goodwill - gross	$ 146,279	165,479
Gaming licenses
Finite Lived And Indefinite Lived Intangible Assets By Major Class [Line Items]
Indefinite intangible assets, useful life	Indefinite
Indefinite intangible assets, excluding goodwill - gross	$ 872,158	$ 893,302

Intangible Assets, Net - Sche_2

Intangible Assets, Net - Schedule of Changes to Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Other And Intangible Assets Net Disclosure [Abstract]
Beginning Balance	$ 921,408
Assets held for sale (see Note 4)	(5)
Goodwill, gross	921,403
Accumulated Impairment	(11,691)
Impairments	(99,530)
Assets held for sale (see Note 4)	5
Accumulated Impairment	(111,216)
Beginning Balance	909,717
Ending Balance	$ 810,187

Intangible Assets, Net - Sche_3

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

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income tax (benefit) expense	$ (37,172,000)	$ 10,405,000
Unrecognized Tax Benefits	$ 0

Long-Term Financing Obligatio_2

Long-Term Financing Obligation - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Sale Leaseback Transaction [Line Items]
Lease term	35 years
Imputed discount rate	10.20%
Percentage of master lease on annual basic	2.00%
Master Lease
Sale Leaseback Transaction [Line Items]
Lessee, Operating Lease, Term of Contract	15 years
Lessee, operating lease, existence of option to extend	true
Lessee, operating lease, option to extend	The Master Lease provides for the lease of land, buildings, structures and other improvements on the land (including barges and riverboats), easements and similar appurtenances to the land and improvements relating to the operation of the leased properties. The Master Lease provides for an initial term of fifteen years with no purchase option. At the Company’s option, the Master Lease may be extended for up to four five-year renewal terms beyond the initial 15-year term. If we elect to renew the term of the Master Lease, the renewal will be effective as to all, but not less than all, of the leased property then subject to the Master Lease. The Company does not have the ability to terminate its obligations under the Master Lease prior to its expiration without GLPI’s consent
Lessee, operating lease, option to terminate	The Company does not have the ability to terminate its obligations under the Master Lease prior to its expiration without GLPI’s consent
Base rent	$ 13.4
Master Lease | Building
Sale Leaseback Transaction [Line Items]
Base rent	$ 60.9
Percentage of master lease on annual basic	2.00%
Revenue to rent ratio as base to compute building rent for first five years	120.00%
Revenue to rent ratio as base to compute building rent for thereafter	180.00%
Master Lease | Land
Sale Leaseback Transaction [Line Items]
Base rent	$ 13.4
Percentage of rent payable adjusted on actual net revenues leased properties term	2 years
Master Lease | GLPI
Sale Leaseback Transaction [Line Items]
Expected initial annual rent expense	$ 87.6
Lease cash payments	22.2	$ 21.9
Lease expense	$ 24.8	$ 24.6

Long-Term Financing Obligatio_3

Long-Term Financing Obligation - Schedule of Future Minimum Payments Related to Master Lease Financing Obligation (Details) $ in Thousands	Mar. 31, 2020USD ($)
Leases [Abstract]
2020 (excluding the three months ended March 31, 2020)	$ 66,953
2021	90,417
2022	91,691
2023	92,990
2024	94,315
Thereafter	3,412,357
Total future payments	3,848,723
Less: Amounts representing interest at 10.2%	(3,295,701)
Plus: Residual values	420,100
Financing obligation to GLPI	$ 973,122

Long-Term Financing Obligatio_4

Long-Term Financing Obligation - Schedule of Future Minimum Payments Related to Master Lease Financing Obligation (Parenthetical) (Details)	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Interest rate	10.20%

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long-term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Long-term debt
Long-term notes and other payables	$ 2,447	$ 2,554
Less: Current portion	(246,109)	(246,175)
Long-term debt, noncurrent	2,780,691	2,324,541
Term Loan
Long-term debt
Long-term debt, gross	488,750	498,750
Less: Unamortized discount and debt issuance costs	(7,407)	(7,982)
Long-term Debt	481,343	490,768
6% Senior Notes due 2026
Long-term debt
Long-term debt, gross	600,000	600,000
Less: Unamortized discount and debt issuance costs	(17,420)	(17,958)
Long-term Debt	582,580	582,042
6% Senior Notes due 2025
Long-term debt
Long-term debt, gross	875,000	875,000
Plus: Unamortized debt premium	19,368	20,214
Less: Unamortized debt issuance costs	(15,296)	(15,939)
Long-term Debt	879,072	879,275
7% Senior Notes due 2023
Long-term debt
Long-term debt, gross	375,000	375,000
Less: Unamortized discount and debt issuance costs	(4,642)	(4,923)
Long-term Debt	370,358	370,077
Revolving Credit Facility
Long-term debt
Revolving Credit Facility	465,000
Lumière Loan
Long-term debt
Lumière Loan	$ 246,000	$ 246,000

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Debt Disclosure [Abstract]
Amortization of deferred financing costs, discount and debt premium	$ 1,600	$ 1,900
Loss on early retirement of debt, net	158
Scheduled maturities of long-term debt for remainder of 2020	246,000
Scheduled maturities of long-term debt in 2021	200
Scheduled maturities of long-term debt in 2022	200
Scheduled maturities of long-term debt in 2023	840,100
Scheduled maturities of long-term debt in 2024	200
Scheduled maturities of long-term debt in thereafter	$ 2,000,000

Long-Term Debt - Term Loan and

Long-Term Debt - Term Loan and Revolving Credit Facility - Additional Information (Details) - USD ($)	Sep. 13, 2017	Mar. 31, 2020	Dec. 31, 2019	Mar. 16, 2020	Apr. 17, 2017
Long-term debt
Debt instrument interest rate terms		however, that in no event will LIBOR be less than zero or the base rate be less than 1.00%.
6% Senior Notes due 2025
Long-term debt
Interest rate (as a percent)	6.00%
Revolving Credit Facility
Long-term debt
Credit facility				$ 465,000,000	$ 500,000,000
Credit facility maturity date		Oct. 1, 2023
Amount outstanding		$ 465,000,000
Available borrowing capacity		$ 16,800,000
Commitment fee on unused portion of the credit facility		0.50%
Interest rates		2.81%
Revolving Credit Facility | Minimum | LIBOR
Long-term debt
Spread on variable rate (as a percent)		1.75%
Revolving Credit Facility | Minimum | Base rate
Long-term debt
Spread on variable rate (as a percent)		0.75%
Revolving Credit Facility | Maximum | LIBOR
Long-term debt
Spread on variable rate (as a percent)		2.50%
Revolving Credit Facility | Maximum | Base rate
Long-term debt
Spread on variable rate (as a percent)		1.50%
Revolving Credit Facility | Mountaineer, Caruthersville and Cape Girardeau
Long-term debt
Repayment of outstanding debt from property sale proceeds			$ 360,000,000
Revolving Credit Facility | Presque
Long-term debt
Repayment of outstanding debt from property sale proceeds			$ 150,000,000
Letter of Credit
Long-term debt
Amount outstanding		$ 18,200,000
Term Loan Under Secured Credit Facility
Long-term debt
Credit facility					$ 1,450,000,000
Credit facility maturity date		Apr. 17, 2024
Credit facility quarterly principal payments		$ 3,600,000
Credit facility principal prepayment	$ 444,500,000
Amount outstanding		$ 488,800,000
Interest rates		3.25%
Term Loan Under Secured Credit Facility | LIBOR
Long-term debt
Spread on variable rate (as a percent)		2.25%
Term Loan Under Secured Credit Facility | Base rate
Long-term debt
Spread on variable rate (as a percent)		1.25%

Long-Term Debt - Lumiere Loan -

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

Fair Value Measurements - 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, 2020	Dec. 31, 2019
Assets:
Restricted cash and investments	$ 27,162	$ 42,609
Marketable securities	31,385	34,634
Level 1
Assets:
Restricted cash and investments	11,036	11,276
Marketable securities	24,301	27,103
Level 2
Assets:
Restricted cash and investments	2,115	2,050
Marketable securities	7,084	7,531
Level 3
Assets:
Restricted cash and investments	$ 14,011	$ 29,283

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Change in Restricted Investments Valued Using Level 3 Inputs (Details) - Restricted Cash and Investments $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Fair Value, Assets
Fair value assets, beginning balance	$ 29,283
Value of additional investment received	4,678
Unrealized loss	(19,950)
Fair value assets, ending balance	$ 14,011

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) shares in Millions	1 Months Ended	3 Months Ended		12 Months Ended
	Nov. 30, 2018	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value assets, Level 1 to Level 2 transfers amount		$ 0
Fair value assets, Level 2 to Level 1 transfers amount		0
Fair value assets, Level 1 to Level 3 transfers amount		0
Fair value assets, Level 2 To Level 3 transfers amount		0
Fair value assets, Level 3 to Level 2 transfers amount		0
Fair value assets, Level 3 To Level 1 transfers amount		0
TSG
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Agreement period	20 years
Number of common shares received under agreement	1.1
Additional value of common shares receivable under agreement upon exercise of first option by TSG	$ 5,000,000
Common shares, sales restriction period, upon exercise of first option	1 year
Cumulative unrealized gains (losses)		(3,400,000)	$ 1,400,000
TSG | Marketable Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value, total		11,000,000		$ 14,000,000
Cumulative unrealized gains (losses)		600,000		$ 3,700,000
TSG | Restricted Cash and Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value, total		4,000,000
Cumulative unrealized gains (losses)		$ (600,000)

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Estimated Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Carrying Amount | 7% Senior Notes due 2023
Financial liabilities:
Long-term debt	$ 370,358	$ 370,077
Carrying Amount | 6% Senior Notes due 2025
Financial liabilities:
Long-term debt	879,072	879,275
Carrying Amount | 6% Senior Notes due 2026
Financial liabilities:
Long-term debt	582,580	582,042
Carrying Amount | Term Loan
Financial liabilities:
Long-term debt	481,343	490,768
Carrying Amount | Revolving Credit Facility
Financial liabilities:
Long-term debt	465,000	0
Carrying Amount | Lumière Loan
Financial liabilities:
Long-term debt	246,000	246,000
Carrying Amount | Other long-term debt
Financial liabilities:
Long-term debt	2,447	2,553
Fair Value | 7% Senior Notes due 2023
Financial liabilities:
Long-term debt	327,656	390,938
Fair Value | 6% Senior Notes due 2025
Financial liabilities:
Long-term debt	765,625	922,031
Fair Value | 6% Senior Notes due 2026
Financial liabilities:
Long-term debt	552,000	662,250
Fair Value | Term Loan
Financial liabilities:
Long-term debt	422,769	498,127
Fair Value | Revolving Credit Facility
Financial liabilities:
Long-term debt	465,000	0
Fair Value | Lumière Loan
Financial liabilities:
Long-term debt	246,000	246,000
Fair Value | Other long-term debt
Financial liabilities:
Long-term debt	$ 2,447	$ 2,553

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, 2020	Mar. 31, 2019
Net (loss) income available to common stockholders	$ (175,638)	$ 38,229
Shares outstanding:
Weighted average shares outstanding – basic	77,954,038	77,567,147
Weighted average shares outstanding – diluted	77,954,038	78,589,110
Net (loss) income per common share attributable to common stockholders – basic:	$ (2.25)	$ 0.49
Net (loss) income per common share attributable to common stockholders – diluted:	$ (2.25)	$ 0.49
Stock Options
Shares outstanding:
Effect of dilutive securities		104,382
Restricted Stock Units (RSUs)
Shares outstanding:
Effect of dilutive securities		917,581

Earnings per Share - Additional

Earnings per Share - Additional Information (Details)	3 Months Ended
	Mar. 31, 2020shares
Stock Options
Anti-dilutive shares excluded from calculation of Weighted average shares outstanding – diluted	107,154
Restricted Stock Units (RSUs)
Anti-dilutive shares excluded from calculation of Weighted average shares outstanding – diluted	623,999

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details)	3 Months Ended
	Mar. 31, 2020Lawsuit
Commitments And Contingencies Disclosure [Abstract]
Number of putative class action lawsuits filed	8

Related Affiliates - Additional

Related Affiliates - Additional Information (Details)	3 Months Ended
	Mar. 31, 2020USD ($)a	Mar. 31, 2019USD ($)	Dec. 31, 2019USD ($)
REI
Related affiliates
Percentage of outstanding shares owned	11.10%
Gary Carano Family
Related affiliates
Related party transactions	$ 0	$ 0
C. S. & Y. Associates
Related affiliates
Area of real property leased | a	30,000
Lease expiration date	Jun. 30, 2057
Annual rent payable	$ 600,000
Due to related parties	0		$ 0
Due from related parties	$ 0		$ 0

Segment Information - Additiona

Segment Information - Additional Information (Details)	3 Months Ended
	Mar. 31, 2020Regionsegment
Segment Reporting [Abstract]
Number of geographic regions | Region	5
Number of reportable segments | segment	5

Segment Information - Schedule

Segment Information - Schedule of Operating Data for Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenues and expenses
Net revenues	$ 473,069	$ 635,823
Depreciation and amortization	50,433	57,757
Operating (loss) income	(123,180)	123,604
Unallocated (loss) income and expenses:
Interest expense, net	(66,464)	(73,510)
Loss on extinguishment of debt	(158)
Unrealized loss on investments and marketable securities	(23,008)	(1,460)
Benefit (provision) for income taxes	37,172	(10,405)
Net (loss) income	(175,638)	38,229
Operating Segment | West Segment
Revenues and expenses
Net revenues	105,490	118,095
Depreciation and amortization	13,938	13,143
Operating (loss) income	(97,457)	10,801
Operating Segment | Midwest Segment
Revenues and expenses
Net revenues	60,793	96,787
Depreciation and amortization	4,522	8,421
Operating (loss) income	(19,354)	27,833
Operating Segment | South Segment
Revenues and expenses
Net revenues	97,052	132,714
Depreciation and amortization	7,120	11,015
Operating (loss) income	(11,194)	27,515
Operating Segment | East Segment
Revenues and expenses
Net revenues	108,056	166,233
Depreciation and amortization	11,241	12,149
Operating (loss) income	11,016	27,161
Operating Segment | Central Segment
Revenues and expenses
Net revenues	99,705	120,472
Depreciation and amortization	11,763	11,210
Operating (loss) income	18,114	27,070
Corporate
Revenues and expenses
Net revenues	1,973	1,522
Depreciation and amortization	1,849	1,819
Operating (loss) income	$ (24,305)	$ 3,224

Segment Information - Schedul_2

Segment Information - Schedule of Capital Expenditures, Net of Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Segment Reporting Information [Line Items]
Capital Expenditures, Net	$ 23,201	$ 38,360
Operating Segment | West Segment
Segment Reporting Information [Line Items]
Capital Expenditures, Net	8,586	16,054
Operating Segment | Midwest Segment
Segment Reporting Information [Line Items]
Capital Expenditures, Net	1,636	4,123
Operating Segment | South Segment
Segment Reporting Information [Line Items]
Capital Expenditures, Net	3,780	3,764
Operating Segment | East Segment
Segment Reporting Information [Line Items]
Capital Expenditures, Net	5,597	10,574
Operating Segment | Central Segment
Segment Reporting Information [Line Items]
Capital Expenditures, Net	2,447	2,668
Corporate
Segment Reporting Information [Line Items]
Capital Expenditures, Net	$ 1,155	$ 1,177

Segment Information - Schedul_3

Segment Information - Schedule of Balance Sheet Information for Reportable Segments (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	$ 5,891,172	$ 5,640,553	$ 5,640,553
Corporate, Other and Eliminations
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	(1,135,653)		(1,625,242)
West Segment | Operating Segment
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	1,659,542		1,816,033
Midwest Segment | Operating Segment
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	1,119,005		1,157,882
South Segment | Operating Segment
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	1,129,003		1,161,622
East Segment | Operating Segment
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	1,573,068		1,590,364
Central Segment | Operating Segment
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	$ 1,546,207		$ 1,539,894

Pending Acquisitions - Addition

Pending Acquisitions - Additional Information (Details)	Jun. 24, 2019USD ($)$ / sharesshares	Mar. 31, 2020shares	Dec. 31, 2019shares	Jul. 19, 2019USD ($)
Business Acquisition [Line Items]
Common stock, shares outstanding | shares		77,802,894	77,569,117
Caesars Entertainment Corporation
Business Acquisition [Line Items]
Common stock, shares outstanding | shares	682,161,838
Common stock, shares held in escrow trust to satisfy unsecured claims | shares	8,271,660
Caesars Entertainment Corporation
Business Acquisition [Line Items]
Date of merger agreement	Jun. 24, 2019
Right to receive per share | $ / shares	$ 8.40
Merger agreement consideration payable date	Mar. 25, 2020
Merger agreement price per common stock | $ / shares	$ 0.003333
Common stock conversion ratio	0.0899
Percentage of ownership on outstanding shares	50.20%
Termination fee on failure of stockholders to approve the merger	$ 418,400,000
Required to pay termination fee on failure of stockholders to approve issuance of share	154,900,000
Maximum of reimburse other party expenses	50,000,000
Obligated to pay termination fee	836,800,000
Caesars Entertainment Corporation | Senior Secured Revolving Credit Facility
Business Acquisition [Line Items]
Credit facility	1,000,000,000
Increase in revolving credit facility if elected by company				$ 830,000,000
Caesars Entertainment Corporation | Senior Secured Term Loan B Facility
Business Acquisition [Line Items]
Credit facility	3,000,000,000
Caesars Entertainment Corporation | Senior Secured 364-day Bridge Facility
Business Acquisition [Line Items]
Credit facility	3,250,000,000
Caesars Entertainment Corporation | Senior Unsecured Bridge Loan Facility
Business Acquisition [Line Items]
Credit facility	1,800,000,000
Caesars Entertainment Corporation | Senior Secured Incremental Term Loan B Facility
Business Acquisition [Line Items]
Credit facility	$ 2,400,000,000
Caesars Entertainment Corporation | 5.00% Convertible Senior Notes Due 2024
Business Acquisition [Line Items]
Interest rate (as a percent)	5.00%
Senior notes, maturity year	2024
Caesars Entertainment Corporation | Former Caesars Stockholders
Business Acquisition [Line Items]
Percentage of ownership on outstanding shares	49.80%