Bally's (BALY) 10-Q 12 Aug 19 2019 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2019	Aug. 07, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2019
Document Transition Report	false
Entity File Number	001-38850
Entity Registrant Name	Twin River Worldwide Holdings, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-0904604
Entity Address, Address Line One	100 Westminster Street
Entity Address, City or Town	Providence,
Entity Address, State or Province	RI
Entity Address, Postal Zip Code	02903
City Area Code	401
Local Phone Number	475-8474
Title of 12(b) Security	Common stock, $0.01 par value
Trading Symbol	TRWH
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		38,607,688
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001747079
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Assets
Cash and cash equivalents	$ 383,431	$ 77,580
Restricted cash	7,455	3,851
Accounts receivable, net	27,874	22,966
Inventory	7,689	6,418
Prepaid expenses and other assets	17,690	11,647
Total current assets	444,139	122,462
Property and equipment, net	515,525	416,148
Right of use assets, net	17,717	0
Goodwill	132,746	132,035
Intangible assets, net	113,268	110,104
Other assets	6,069	1,603
Total assets	1,229,464	782,352
Liabilities and Shareholders’ Equity
Current portion of long-term debt	3,000	3,595
Current portion of lease obligations	1,000	0
Accounts payable	18,827	14,215
Accrued liabilities	76,696	57,778
Total current liabilities	99,523	75,588
Lease obligations, net of current portion	16,719	0
Pension benefit obligations	6,407	0
Deferred tax liability	5,647	17,526
Long-term debt, net of current portion	681,576	390,578
Other long-term liabilities	2,149	0
Total liabilities	812,021	483,692
Commitments and contingencies
Shareholders’ equity:
Common stock	411	380
Additional paid in capital	183,925	125,629
Treasury stock, at cost	(409)	(30,233)
Retained earnings	233,516	202,884
Total shareholders’ equity	417,443	298,660
Total liabilities and shareholders’ equity	$ 1,229,464	$ 782,352

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - $ / shares	Jun. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Common stock par value (in dollars per share)	$ 0.01	$ 0.01
Common stock authorized (in shares)	100,000,000	100,000,000
Common stock issued (in shares)	41,163,937	39,421,356
Common stock outstanding (in shares)	41,147,597	37,989,376
Treasury stock (in shares)	16,340	1,431,980

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenue:
Total Revenue	$ 143,218	$ 110,815	$ 263,849	$ 215,621
Operating costs and expenses:
Advertising, general and administrative	48,047	40,363	86,310	78,393
Expansion and pre-opening	0	451	0	485
Acquisition, integration and restructuring expense	2,239	664	9,117	664
Newport Grand disposal loss	0	0	0	5,885
Depreciation and amortization	8,233	5,135	15,002	10,347
Total operating costs and expenses	109,372	79,391	199,696	159,320
Income from operations	33,846	31,424	64,153	56,301
Other income (expense):
Interest income	754	38	767	78
Interest expense, net of amounts capitalized	(9,966)	(5,106)	(17,017)	(10,845)
Loss on extinguishment and modification of debt	(1,491)	0	(1,491)	0
Other, net	182	0	182	0
Total other expense, net	(10,521)	(5,068)	(17,559)	(10,767)
Income before provision for income taxes	23,325	26,356	46,594	45,534
Provision for income taxes	6,145	6,056	11,818	12,600
Net income	17,180	20,300	34,776	32,934
Deemed dividends related to changes in fair value of common stock subject to possible redemption	0	(1,305)	0	(2,610)
Net income applicable to common stockholders	$ 17,180	$ 18,995	$ 34,776	$ 30,324
Net income per share, basic (in dollars per share)	$ 0.42	$ 0.51	$ 0.88	$ 0.82
Weighted average common shares outstanding, basic (in shares)	41,137	36,925	39,701	36,874
Net income per share, diluted (in dollars per share)	$ 0.42	$ 0.49	$ 0.87	$ 0.79
Weighted average common shares outstanding, diluted (in shares)	41,261	38,541	39,822	38,572
Total comprehensive income	$ 17,180	$ 20,300	$ 34,776	$ 32,934
Gaming
Revenue:
Total Revenue	100,234	82,266	191,102	161,848
Operating costs and expenses:
Cost of net revenue	26,078	17,027	47,154	33,754
Racing
Revenue:
Total Revenue	3,783	3,870	6,723	7,154
Operating costs and expenses:
Cost of net revenue	2,833	2,545	5,024	4,724
Hotel
Revenue:
Total Revenue	11,390	5,486	17,695	9,940
Operating costs and expenses:
Cost of net revenue	4,183	2,056	6,897	3,816
Food and beverage
Revenue:
Total Revenue	18,801	12,298	32,312	23,786
Operating costs and expenses:
Cost of net revenue	15,634	9,696	26,741	18,668
Other
Revenue:
Total Revenue	9,010	6,895	16,017	12,893
Retail, entertainment and other
Operating costs and expenses:
Cost of net revenue	$ 2,125	$ 1,454	$ 3,451	$ 2,584

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings
Beginning balance (in shares) at Dec. 31, 2017		36,199,704
Beginning balance at Dec. 31, 2017	$ 176,803	$ 362	$ 67,910	$ (22,275)	$ 130,806
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Release of restricted stock (in shares)		25,136
Stock options exercised via repayment of non-recourse notes (in shares)		368,000
Stock options exercised via repayment of non-recourse notes	9,020	$ 4	9,016
Share-based compensation - equity awards	506		506
Common stock subject to possible redemption (in shares)		(25,136)
Common stock subject to possible redemption	(685)		(685)
Deemed dividends related to changes in fair value of common stock subject to possible redemption	(1,305)				(1,305)
Net income	12,634				12,634
Ending balance (in shares) at Mar. 31, 2018		36,567,704
Ending balance at Mar. 31, 2018	196,973	$ 366	76,747	(22,275)	142,135
Beginning balance (in shares) at Dec. 31, 2017		36,199,704
Beginning balance at Dec. 31, 2017	176,803	$ 362	67,910	(22,275)	130,806
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	32,934
Ending balance (in shares) at Jun. 30, 2018		36,567,704
Ending balance at Jun. 30, 2018	216,472	$ 366	77,251	(22,275)	161,130
Beginning balance (in shares) at Mar. 31, 2018		36,567,704
Beginning balance at Mar. 31, 2018	196,973	$ 366	76,747	(22,275)	142,135
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation - equity awards	504		504
Deemed dividends related to changes in fair value of common stock subject to possible redemption	(1,305)				(1,305)
Net income	20,300				20,300
Ending balance (in shares) at Jun. 30, 2018		36,567,704
Ending balance at Jun. 30, 2018	216,472	$ 366	77,251	(22,275)	161,130
Beginning balance (in shares) at Dec. 31, 2018		37,989,376
Beginning balance at Dec. 31, 2018	298,660	$ 380	125,629	(30,233)	202,884
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Release of restricted stock (in shares)		161,980
Release of restricted stock	1	$ 1
Share-based compensation - equity awards	151		151
Retirement of treasury shares	$ 0		(30,233)	30,233
Share repurchases (in shares)	(16,340)	(16,340)
Share repurchases	$ (409)			(409)
Stock issued for purchase of Dover Downs (in shares)		2,976,825
Stock issued for purchase of Dover Downs	86,780	$ 30	86,750
Net income	17,596				17,596
Ending balance (in shares) at Mar. 31, 2019		41,111,841
Ending balance at Mar. 31, 2019	402,779	$ 411	182,297	(409)	220,480
Beginning balance (in shares) at Dec. 31, 2018		37,989,376
Beginning balance at Dec. 31, 2018	298,660	$ 380	125,629	(30,233)	202,884
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	34,776
Ending balance (in shares) at Jun. 30, 2019		41,147,597
Ending balance at Jun. 30, 2019	417,443	$ 411	183,925	(409)	233,516
Beginning balance (in shares) at Mar. 31, 2019		41,111,841
Beginning balance at Mar. 31, 2019	402,779	$ 411	182,297	(409)	220,480
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Release of restricted stock (in shares)		35,756
Share-based compensation - equity awards	$ 1,628		1,628
Share repurchases (in shares)	0
Dividends	$ (4,144)				(4,144)
Net income	17,180				17,180
Ending balance (in shares) at Jun. 30, 2019		41,147,597
Ending balance at Jun. 30, 2019	$ 417,443	$ 411	$ 183,925	$ (409)	$ 233,516

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (unaudited) CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (unaudited) (Parenthetical) - $ / shares	Jun. 14, 2019	Jun. 30, 2019
Statement of Stockholders' Equity [Abstract]
Common stock cash dividend declared (in dollars per share)	$ 0.10	$ 100

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities:
Net income	$ 34,776	$ 32,934
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of property and equipment	12,113	7,609
Amortization of intangible assets	2,889	2,738
Amortization of operating lease right of use assets	722	0
Share-based compensation - liability awards	0	10,038
Share-based compensation - equity awards	1,779	1,010
Amortization of deferred financing costs and discounts on debt	1,428	1,847
Loss on debt extinguishment and modification of debt	1,491	0
Bad debt expense	58	116
Net pension and other postretirement benefit income	(39)	0
Newport Grand disposal loss	0	5,885
Gain on disposal of property and equipment	(8)	0
Changes in operating assets and liabilities:
Accounts receivable	708	(3,233)
Inventory	122	807
Prepaid expenses and other assets	(944)	1,158
Accounts payable	(300)	(6,399)
Accrued liabilities	1,871	925
Net cash provided by operating activities	56,666	55,435
Cash flows from investing activities:
Repayment of loans from officers and directors	0	1,073
Acquisition of Dover Downs Gaming & Entertainment, Inc., net of cash acquired	(9,606)	0
Proceeds from sale of property, plant and equipment	7	5
Capital expenditures, excluding Tiverton Casino Hotel and new hotel at Twin River Casino	(13,114)	(5,607)
Capital expenditures - Tiverton Casino Hotel	(1,824)	(58,740)
Capital expenditures - new hotel at Twin River Casino	(3,741)	(14,101)
Payments associated with gaming license	(942)	(155)
Net cash used in investing activities	(29,220)	(70,417)
Cash flows from financing activities:
Revolver borrowings	25,000	26,000
Revolver repayments	(80,000)	0
Term loan proceeds, net of fees	289,345	0
Term loan repayments	(342,439)	(32,127)
Senior note proceeds, net of fees	393,870	0
Payment of financing fees	(3,358)	0
Stock repurchases	(409)	0
Stock options exercised via repayment of non-recourse notes	0	890
Net cash provided by (used in) financing activities	282,009	(5,237)
Net change in cash and cash equivalents and restricted cash	309,455	(20,219)
Cash and cash equivalents and restricted cash, beginning of period	81,431	93,216
Cash and cash equivalents and restricted cash, end of period	390,886	72,997
Supplemental disclosure of cash flow information:
Cash paid for interest	10,960	11,046
Cash paid for income taxes	8,794	10,226
Non-cash investing and financing activities:
Unpaid property and equipment	614	18,161
Deposit applied to fixed asset purchases	981	0
Deemed dividends related to changes in fair value of common stock subject to possible redemption	0	2,610
Intrinsic value of stock options exercised via repayment of non-recourse notes	0	8,131
Termination of operating leases via purchase of underlying assets	1,665	0
Stock issued for acquisition of Dover Downs Gaming & Entertainment, Inc.	86,780	0
Sale of Newport Grand
Cash flows from investing activities:
Proceeds from sale of property, plant and equipment	$ 0	$ 7,108

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Statement of Cash Flows [Abstract]
Term loan proceeds, fees	$ 10,655	$ 10,655
Senior note proceeds, fees	$ 6,130	$ 6,130

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	SIGNIFICANT ACCOUNTING POLICIES Nature of Business Twin River Worldwide Holdings, Inc. (the “Company”, “TRWH”) is a diverse, multi-jurisdictional owner and operator of gaming and racing facilities, including slot machines and various casino table games. The Company, through its wholly owned subsidiary Twin River Management Group, Inc. (“TRMG”), owns and manages the Twin River Casino Hotel (“Twin River Casino Hotel”) in Lincoln, Rhode Island, the Tiverton Casino Hotel (“Tiverton Casino Hotel”) in Tiverton, Rhode Island, the Hard Rock Hotel & Casino (“Hard Rock Biloxi”) in Biloxi, Mississippi, the Dover Downs Hotel & Casino (“Dover Downs Casino Hotel”) in Dover, Delaware, and the Arapahoe Park racetrack and Havana Park off-track betting (“Mile High USA”) in Aurora, Colorado. Following the closure of the Newport Grand Casino (“Newport Grand”) in August 2018, we opened the Tiverton Casino Hotel on September 1, 2018. On March 28, 2019, we completed our acquisition of Dover Downs Gaming & Entertainment, Inc., which consisted of Dover Downs Casino Hotel, collectively (“Dover Downs”). On January 29, 2019, the Company entered into an agreement to acquire the operations and real estate of three casino properties in Black Hawk, Colorado and on July 10, 2019 the Company entered into an agreement to acquire the operations and real estate of Isle of Capri Casino Kansas City in Kansas City, Missouri and Lady Luck Casino Vicksburg in Vicksburg, Mississippi. See Note 4 . “Acquisitions” for further information. On March 29, 2019, the Company’s common stock was listed on the New York Stock Exchange and began trading under the ticker symbol “TRWH.” Principles of Consolidation The accompanying condensed consolidated financial statements of the Company include the accounts of the Company and its wholly-owned subsidiary TRMG and its subsidiaries. All intercompany transactions and balances have been eliminated in the consolidation. Certain prior year amounts have been reclassified to conform to the current year’s presentation. The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial information, including the instructions to Form 10-Q and Rule 10-01 of the SEC’s Regulation S-X. Accordingly, certain information and note disclosures normally required in complete financial statements prepared in conformity with accounting principles generally accepted in the United States have been condensed or omitted. In the Company’s opinion, these condensed consolidated financial statements include all adjustments necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods presented. However, the results of operations for interim periods may not be indicative of the results that may be expected for a full year or any future period. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. Except as described below and in the Notes to the condensed consolidated financial statements, there were no material changes in significant accounting policies from those described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. Stock Dividend On January 18, 2019, the Board of Directors of the Company approved a common stock dividend, accounted for as a stock split. The stock split was effected through a stock dividend of three shares for each share outstanding as of the approval date. The effect of this dividend has been retroactively applied to the condensed consolidated financial statements as of and for the period ended December 31, 2018 and resulted in an increase to the number of shares of common stock outstanding as of December 31, 2018 from 9,855,339 to 39,421,356 . All share and per share information included in the condensed consolidated financial statements has been retroactively adjusted to reflect the impact of the stock dividend. The shares of common stock authorized remained at 100 million , and the shares retained a par value per share of $0.01 . Capital Return Program and Quarterly Cash Dividend On June 14, 2019, the Company announced that its Board of Directors approved a capital return program under which the Company may expend a total of up to $250 million for a stock repurchase program and payment of dividends. In connection with this announcement, the Company declared a cash dividend of $0.10 per common share payable on July 23, 2019 to shareholders of record as of July 9, 2019. On July 26, 2019, the Company completed a modified Dutch auction tender offer. Refer to Note 13 . “Subsequent Events” for more information. Cash and Cash Equivalents and Restricted Cash The Company considers all cash balances and highly liquid investments with an original maturity of three months or less to be cash equivalents. As of June 30, 2019 and December 31, 2018 , restricted cash of $7.5 million and $3.9 million , respectively, was comprised of video lottery terminal (“VLT”) and table games cash payable to the State of Rhode Island which is unavailable for the Company’s use. The following table reconciles cash and restricted cash in the condensed consolidated balance sheets to the total shown on the condensed consolidated statements of cash flows. June 30, December 31, (in thousands) 2019 2018 Cash and cash equivalents $ 383,431 $ 77,580 Restricted cash 7,455 3,851 Total cash and cash equivalents and restricted cash $ 390,886 $ 81,431 Treasury Stock The Company records the repurchase of shares of common stock at cost based on the settlement date of the transaction. These shares are classified as treasury stock, which is a reduction to shareholders’ equity. Treasury stock is included in authorized and issued shares but excluded from outstanding shares. The Company retired 1,431,980 shares of its common stock held in treasury during the three months ended March 31, 2019. The shares were returned to the status of authorized but unissued. The Company repurchased 16,340 shares of its common stock at an aggregate cost of $0.4 million during the three months ended March 31, 2019. There were no shares retired or repurchased during the second quarter of 2019. Fair Value Measurements Fair value is determined using the principles of Financial Accounting Standards Board (“FASB”) Codification Topic 820, Fair Value Measurement (“ASC 820”). Fair value is described as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy prioritizes and defines the inputs to valuation techniques as follows: • Level 1: Observable quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2: Inputs are observable for the asset or liability either directly or through corroboration with observable market data. • Level 3: Unobservable inputs. The Company’s cash and cash equivalents, restricted cash, accounts receivable, accounts payable and accrued liabilities are carried at cost, which approximates fair value due to the short-term nature of these instruments. The carrying value of the Company’s term loans and revolving credit facilities, including the current portion, approximate fair value as the terms and conditions of these loans are consistent with comparable market debt issuances. These measurements fall within Level 2 of the fair value hierarchy. The inputs used to measure the fair value of an asset or a liability are categorized within levels of the fair value hierarchy. The fair value measurement is categorized in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the measurement. There were no transfers made among the three levels in the fair value hierarchy for the three months ended June 30, 2019 . Leases Effective January 1, 2019, the Company accounts for its leases under FASB Codification Topic 842, Leases (“ASC 842”). Under this guidance, arrangements meeting the definition of a lease are classified as operating or financing leases and are recorded on the condensed consolidated balance sheet as both a right of use asset and lease liability, calculated by discounting fixed lease payments over the lease term at the rate implicit in the lease or the Company’s incremental borrowing rate. Discount rates used to determine the present value of the lease payments are based on a credit-adjusted secured borrowing rate commensurate with the term of the lease. Lease liabilities are increased by interest and reduced by payments each period, and the right of use asset is amortized over the lease term. For operating leases, interest on the lease liability and the amortization of the right of use asset result in straight-line rent expense over the lease term. For finance leases, interest on the lease liability and the amortization of the right of use asset results in front-loaded expense over the lease term. Variable lease expenses are recorded when incurred. In calculating the right of use asset and lease liability, the Company accounts for both the lease component and the non-lease component as a single component for all classes of underlying assets. The Company excludes short-term leases having initial terms of 12 months or less from the new guidance as an accounting policy election and recognizes rent expense on a straight-line basis over the lease term. The Company also has leasing arrangements with third-party lessees at its properties. Leasing arrangements for which the Company acts as a lessor are not deemed to be material as of June 30, 2019 . The Company continues to account for leases in the prior period financial statements under ASC Topic 840. See Note 9 . “Leases” for further discussion. Change in Accounting Principle In the second quarter of 2019, the Company changed its accounting principle for reporting share-based compensation expense in the condensed consolidated statements of operations per FASB Codification Topic 718, Compensation - Stock Compensation (“ASC 718”). The new principle will be to record compensation expense for share-based compensation awards which contain only a service condition, i.e. time-based awards, using the straight-line method of accounting recognizing compensation expense over the requisite service period and treating all tranches as one award. The Company previously recorded share-based compensation expense for awards with graded vesting over the requisite service period on an accelerated basis, as if each tranche were a separate award. The straight-line method of accounting was adopted to better align the Company’s recognition of share-based compensation expense with its peers and to expense restricted stock units in a consistent manner that is representative of the requisite service period. This change in accounting principle was retrospectively applied but had an immaterial effect on the condensed consolidated balance sheets, condensed consolidated statements of operations, condensed consolidated statements of shareholders’ equity, and condensed consolidated statements of cash flows. As a result of this change in accounting principle, share-based compensation expense was reduced by $0.2 million and $0.1 million for the three and six months ended June 30, 2019, respectively. Net income for each of the three and six month periods ended June 30, 2019 increased by approximately $0.1 million with an immaterial impact to diluted earnings per share amounts.

RECENTLY ADOPTED AND ISSUED ACC

RECENTLY ADOPTED AND ISSUED ACCOUNTING PRONOUNCEMENTS	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
RECENTLY ADOPTED AND ISSUED ACCOUNTING PRONOUNCEMENTS	RECENTLY ADOPTED AND ISSUED ACCOUNTING PRONOUNCEMENTS Recently Adopted Accounting Pronouncements In February 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842) in order to increase transparency and comparability among organizations by, among other provisions, recognizing lease assets and lease liabilities on the balance sheet for those leases classified as operating leases under previous United States Generally Accepted Accounting Principles (“US GAAP”). For public companies, ASU 2016-02 is effective for fiscal years beginning after December 15, 2018 (including interim periods within those periods, which for the Company was the first quarter of 2019) using a modified retrospective approach and early adoption is permitted. In transition, entities may also elect a package of practical expedients that must be applied in its entirety to all leases commencing before the adoption date, unless the lease is modified, and permits entities to not reassess (a) the existence of a lease, (b) lease classification or (c) determination of initial direct costs, as of the adoption date, which effectively allows entities to carryforward accounting conclusions under previous U.S. GAAP. In July 2018, the FASB issued ASU 2018-11, Leases (Topic 842): Targeted Improvements , which provides entities an optional transition method to apply the guidance under Topic 842 as of the adoption date, rather than as of the earliest period presented. The Company adopted Topic 842 on January 1, 2019, using the optional transition method to apply the new guidance as of January 1, 2019, rather than as of the earliest period presented, and elected the entire package of practical expedients described above. Based on the analysis, on January 1, 2019, the Company recorded right of use assets and a corresponding lease liability of approximately $18.8 million . There was no impact to opening retained earnings. In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities, which changes the recognition and presentation requirements of hedge accounting, including eliminating the requirement to separately measure and report hedge ineffectiveness and presenting all items that affect earnings in the same income statement line item as the hedged item. The ASU also provides new alternatives for applying hedge accounting to additional hedging strategies, measuring the hedged item in fair value hedges of interest rate risk, reducing the cost and complexity of applying hedge accounting by easing the requirements for effectiveness testing, hedge documentation and application of the critical terms match method and reducing the risk of a material error correction if a company applies the shortcut method inappropriately. This ASU is effective for public companies in fiscal years beginning after December 15, 2018, which for the Company was the first quarter of 2019. The Company adopted the guidance in this ASU in the first quarter of 2019, with no impact to its condensed consolidated financial statements. Recently Issued Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326)—Measurement of Credit Losses on Financial Instruments . This standard amends several aspects of the measurement of credit losses on financial instruments, including trade receivables. The standard replaces the existing incurred credit loss model with the Current Expected Credit Losses (“CECL”) model and amends certain aspects of accounting for purchased financial assets with deterioration in credit quality since origination. Under CECL, the allowance for losses for financial assets that are measured at amortized cost reflects management’s estimate of credit losses over the remaining expected life of the financial assets, based on historical experience, current conditions and forecasts that affect the collectability of the reported amount. The standard is effective for annual and interim periods beginning after December 15, 2019, with early adoption permitted for annual and interim periods beginning after December 15, 2018. Adoption is through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective (a modified-retrospective approach). The Company anticipates adopting this standard in the first quarter of 2020. The impact of adoption on the Company’s consolidated financial statements will depend on, among other things, the economic environment and the type of financial assets held on the date of adoption. 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 does not expect it to have a significant impact on the condensed consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820),—Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement , which makes a number of changes meant to add, modify or remove certain disclosure requirements associated with the movement amongst or hierarchy associated with Level 1, Level 2 and Level 3 fair value measurements. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted upon issuance of the update. The Company anticipates adopting this amendment in the first quarter of 2020, and does not expect the adoption of this guidance to have a material impact on its condensed consolidated financial statements.

REVENUE RECOGNITION

REVENUE RECOGNITION	6 Months Ended
	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	REVENUE RECOGNITION The Company accounts for revenue earned from contracts with customers under ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) . The Company generates revenue from five principal sources: gaming services, hotel, racing, food and beverage and other. Gaming revenue includes Twin River Casino Hotel’s, Tiverton Casino Hotel’s (upon its opening on September 1, 2018) and Newport Grand’s (until its closing on August 28, 2018) share of VLT revenue as determined by their respective master VLT contracts with the State of Rhode Island. Twin River Casino Hotel is entitled to a 28.85% share of VLT revenue on the initial 3,002 units and a 26.00% share of VLT revenue generated from units in excess of 3,002 units. Tiverton Casino Hotel is (and Newport Grand was) entitled to receive a percentage of VLT revenue that is equivalent to the percentage received by Twin River Casino Hotel. Gaming revenue also includes Twin River Casino Hotel’s and Tiverton Casino Hotel’s share of table games revenue. Twin River Casino Hotel and Tiverton Casino Hotel were, as of June 30, 2019 , entitled to an 83.5% share of table games revenue. Revenue is recognized when the wager is complete, which is when the customer has received the benefits of the Company’s gaming services and the Company has a present right to payment. The Company records revenue from its Rhode Island operations on a net basis which is the percentage share of VLT and table games revenue received as the Company acts as an agent in operating the gaming service on behalf of the State of Rhode Island. Gaming revenue includes Dover Downs’ share of revenue as determined under the Delaware State Lottery Code from the date of its acquisition. Dover Downs is authorized to conduct video lottery, sports wagering, table game and internet gaming operations as one of three “Licensed Agents” under the Delaware State Lottery Code. Licensing, administration and control of gaming operations in Delaware is under the Delaware State Lottery Office and Delaware’s Department of Safety and Homeland Security, Division of Gaming Enforcement. As of June 30, 2019 , Dover Downs was entitled to an approximately 42% share of VLT revenue and an 80% share of table games revenue. Revenue is recognized when the wager is complete, which is when the customer has received the benefits of the Company’s gaming services and the Company has a present right to payment. The Company records revenue from its Delaware operations on a net basis which is the percentage share of VLT and table games revenue received as the Company acts as an agent in operating the gaming service on behalf of the State of Delaware. Gaming revenue also includes Hard Rock Biloxi’s casino revenue, which is the aggregate net difference between gaming wins and losses, with liabilities recognized for funds deposited by customers before gaming play occurs, for chips outstanding and “ticket-in, ticket-out” coupons in the customers’ possession, and for accruals related to the anticipated payout of progressive jackpots. Progressive slot machines, which contain base jackpots that increase at a progressive rate based on the number of credits played, are charged to revenue as the amount of the progressive jackpots increase. Gaming services contracts have two performance obligations for those customers earning incentives under the Company’s player loyalty programs and a single performance obligation for customers who do not participate in the programs. The Company applies a practical expedient by accounting for its gaming contracts on a portfolio basis as such wagers have similar characteristics and the Company reasonably expects the effects on the condensed consolidated financial statements of applying the revenue recognition guidance to the portfolio to not differ materially from that which would result if applying the guidance to an individual wagering contract. For purposes of allocating the transaction price in a wagering contract between the wagering performance obligation and the obligation associated with incentives earned under loyalty programs, the Company allocates an amount to the loyalty program contract liability based on the stand-alone selling price of the incentives earned for a hotel room stay, food and beverage or other amenities. The performance obligations for the incentives earned under the loyalty programs are deferred and recognized as revenue when the customer redeems the incentive. When redeemed, revenue is recognized in the department that provides the goods or service. After allocating revenue to other goods and services provided as part of casino wager contracts, the Company records the residual amount to gaming revenue as the stand-alone price for wagers is highly variable and no set established price exists for such wagers. The allocated revenue for gaming wagers is recognized when the wagers occur as all such wagers settle immediately. The estimated retail value related to goods and services provided to guests without charge or upon redemption under the Company’s player loyalty programs included in departmental revenues, and therefore reducing gaming revenues, are as follows for the three and six months ended June 30, 2019 and 2018 : Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2019 2018 2019 2018 Hotel $ 5,376 $ 2,792 $ 8,934 $ 5,325 Food and beverage 7,758 5,994 13,548 11,557 Other 1,783 1,516 3,161 2,578 $ 14,917 $ 10,302 $ 25,643 $ 19,460 Racing revenue includes Twin River Casino Hotel’s, Tiverton Casino Hotel’s (upon its opening on September 1, 2018), Newport Grand’s (until its closing on August 28, 2018), Mile High USA’s and Dover Downs’ share of wagering from live racing and the import of simulcast signals. Racing revenue is recognized when the wager is complete based on an established take-out percentage. The Company functions as an agent to the pari-mutuel pool. Therefore, fees and obligations related to the Company’s share of purse funding, simulcasting fees, tote fees, pari-mutuel taxes, and other fees directly related to the Company’s racing operations are reported on a net basis and included as a deduction to racing revenue. Hotel revenue is recognized at the time of occupancy, which is when the customer obtains control through occupancy of the room. Advance deposits for hotel rooms are recorded as liabilities until revenue recognition criteria are met. Food and beverage revenue are recognized at the time the goods are sold from Company-operated outlets. All other revenues are recognized at the time the goods are sold or the service is provided. Sales tax and other taxes collected on behalf of governmental authorities are accounted for on a net basis and are not included in revenue or operating expenses. The following tables provide a disaggregation of revenue by segment: (in thousands) Rhode Island Delaware Biloxi Other Total Three Months Ended June 30, 2019 Gaming $ 65,572 $ 13,906 $ 20,756 $ — $ 100,234 Racing 1,155 252 — 2,376 3,783 Hotel 1,694 4,192 5,504 — 11,390 Food and beverage 8,308 6,339 4,152 2 18,801 Other 6,127 1,062 1,706 115 9,010 Total revenue $ 82,856 $ 25,751 $ 32,118 $ 2,493 $ 143,218 Three Months Ended June 30, 2018 Gaming $ 61,915 n/a $ 20,351 $ — $ 82,266 Racing 1,111 n/a — 2,759 3,870 Hotel — n/a 5,486 — 5,486 Food and beverage 7,381 n/a 4,917 — 12,298 Other 5,528 n/a 1,262 105 6,895 Total revenue $ 75,935 n/a $ 32,016 $ 2,864 $ 110,815 Six Months Ended June 30, 2019 Rhode Island Delaware Biloxi Other Total Gaming $ 134,412 $ 14,875 $ 41,815 $ — $ 191,102 Racing 2,146 279 — 4,298 6,723 Hotel 3,235 4,336 10,124 — 17,695 Food and beverage 17,400 6,689 8,221 2 32,312 Other 11,787 1,096 2,989 145 16,017 Total revenue $ 168,980 $ 27,275 $ 63,149 $ 4,445 $ 263,849 Six Months Ended June 30, 2018 Gaming $ 121,358 n/a $ 40,490 $ — $ 161,848 Racing 1,983 n/a — 5,171 7,154 Hotel — n/a 9,940 — 9,940 Food and beverage 14,671 n/a 9,114 1 23,786 Other 10,296 n/a 2,480 117 12,893 Total revenue $ 148,308 n/a $ 62,024 $ 5,289 $ 215,621 Revenue included in operations from Dover Downs from the date of acquisition, March 28, 2019, through June 30, 2019 is reported in the “Delaware” segment. Refer to Note 4 . “Acquisitions” for further information. The Company’s receivables related to contracts with customers are primarily comprised of marker balances and other amounts due from gaming activities, amounts due for hotel stays, and amounts due from tracks and off track betting (“OTB”) locations. The Company’s receivables related to contracts with customers were $16.5 million and $13.3 million as of June 30, 2019 and December 31, 2018 , respectively. The Company has the following liabilities related to contracts with customers: liabilities for loyalty programs, deposits made in advance for goods and services yet to be provided, and unpaid wagers. All of the contract liabilities are short term in nature. Loyalty program incentives earned by customers are typically redeemed within one year from when they are earned and expire if a customer’s account is inactive for more than twelve months; therefore, the majority of these incentives outstanding at the end of a period will either be redeemed or expire within the next twelve months. The Company’s contract liabilities related to loyalty programs were $12.0 million , and $9.5 million as of June 30, 2019 and December 31, 2018 , respectively, and are included as accrued liabilities in the condensed consolidated balance sheets. The Company recognized $2.3 million and $2.1 million of revenue related to loyalty program redemptions for the three months ended June 30, 2019 and 2018 , respectively, and $4.6 million and $4.0 million for the six months ended June 30, 2019 and 2018 . Advance deposits are typically for future banquet events and to reserve hotel rooms. These deposits are usually received weeks or months in advance of the event or hotel stay. The Company’s contract liabilities related to deposits from customers were $2.1 million and $0.6 million as of June 30, 2019 and December 31, 2018 , respectively, and are included as accrued liabilities in the condensed consolidated balance sheets. Unpaid wagers include unpaid pari-mutuel tickets and unpaid sports bet tickets. Unpaid pari-mutual tickets not claimed within twelve months by the customer who earned them are escheated to the state. The Company’s contract liabilities related to unpaid wagers were $1.1 million and $0.9 million as of June 30, 2019 and December 31, 2018 , respectively, and are included as accrued liabilities in the condensed consolidated balance sheets. Topic 606 requires complimentary items to be considered a separate performance obligation, which requires the Company to allocate a portion of revenue from a gaming transaction to other operating revenue based on the estimated standalone selling prices of the promotional items provided. For example, when a casino customer is given a complimentary room, the Company is required to allocate a portion of the casino revenue earned from the customer to hotel revenue based on the estimated standalone selling price of the hotel room. The estimated standalone selling price of hotel rooms is determined based on observable prices. The standalone selling price of food and beverage, and other miscellaneous goods and services is determined based upon the actual retail prices charged customers for those items. Revenue is recognized in the period the goods or services are provided.

ACQUISITIONS

ACQUISITIONS	6 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
ACQUISITIONS	ACQUISITIONS Dover Downs Gaming & Entertainment, Inc. On July 22, 2018, the Company entered into a merger agreement with Dover Downs pursuant to which, among other things, a subsidiary of the Company merged with and into Dover Downs with Dover Downs becoming an indirect wholly-owned subsidiary of the Company as the merger was consummated on March 28, 2019. The merger resulted in Dover Downs’ shareholders exchanging their Dover Downs stock for Company common shares representing 7.225% of the outstanding shares of common stock in the combined company at closing. A total of 2,976,825 shares of common stock were issued at the transaction closing on March 28, 2019 and the valuation of those shares was based on the closing price of Dover Downs’ common stock on March 27, 2019. (in thousands, except share and per share data) March 28, 2019 Dover Downs shares outstanding 33,125,997 Closing Dover Downs share price on March 27, 2019 $ 2.62 Total fair value of stock purchased * $ 86,790 Cash paid by the Company at closing, including amounts to retire Dover Downs debt, inclusive of accrued interest $ 29,096 Consideration transferred $ 115,886 *Shares issued at approximately $29.15 per share when considering the fair value of stock purchased and number of Company shares issued in conjunction with the acquisition. The total consideration paid by the Company in connection with the Dover Downs acquisition was approximately $115.9 million , or $96.4 million , net of cash acquired of $19.5 million . This preliminary purchase price excludes transaction costs. During the three and six months ended June 30, 2019 , the Company incurred $0.8 million and $7.2 million , respectively, of transaction costs related to the merger and becoming a publicly traded company compared to $0.7 million in the prior year periods. These costs are included in acquisition, integration and restructuring expense in the condensed consolidated statements of operations and comprehensive income. The identifiable intangible assets recorded in connection with the closing of the merger based on preliminary valuations include trademarks of $3.9 million , rated player relationships of $0.8 million and hotel and conference pre-bookings of $0.4 million , which are being amortized on a straight-line basis over estimated useful lives of approximately ten years , eight years , and three years , respectively. The preliminary fair value of the identifiable intangible assets acquired was determined by using an income approach. Significant assumptions utilized in the income approach were based on company-specific information and projections, which are not observable in the market and are thus considered Level 3 measurements as defined by authoritative guidance. The Company accounted for the acquisition as a business combination using the acquisition method with Twin River as the accounting acquirer in accordance with FASB Codification Topic 805, Business Combinations (“ASC 805”) . Under this method of accounting the purchase price has been allocated to Dover Downs’ assets acquired and liabilities assumed based upon their estimated fair values at the acquisition date. The following table summarizes the consideration paid and the preliminary fair values of the assets acquired and liabilities assumed. As of June 30, 2019, the purchase price allocation was preliminary and will be finalized when valuations are complete and final assessments of the fair value of other acquired assets and assumed liabilities are completed. There can be no assurance that such finalizations will not result in material changes from the preliminary purchase price allocations. The Company’s estimates and assumptions are subject to change during the measurement period (up to one year from the acquisition date), as the Company finalizes the valuations of certain tangible and intangible assets acquired and liabilities assumed. During the second quarter of fiscal 2019, the Company recorded adjustments to the preliminary opening balance sheet, as reflected in the table below, as a result of valuation procedures performed on balance sheet amounts. As a result of these adjustments, the Company recorded goodwill of $0.7 million . While the Company is still completing the final purchase accounting adjustments, material changes are not expected to the amounts recorded in the condensed consolidated financial statements as of June 30, 2019 . As of March 28, 2019 (in thousands) Preliminary as of March 31, 2019 Adjustments in Current Quarter Preliminary as of June 30, 2019 Cash $ 19,500 $ — $ 19,500 Accounts receivable 5,674 — 5,674 Due from State of Delaware 2,535 — 2,535 Inventory 1,891 (498 ) 1,393 Prepaid expenses and other assets 2,586 — 2,586 Property and equipment 103,657 (5,378 ) 98,279 Right of use asset 1,333 — 1,333 Intangible assets 5,110 — 5,110 Deferred income tax assets 6,655 5,224 11,879 Other assets 320 — 320 Goodwill — 711 711 Accounts payable (7,470 ) 97 (7,373 ) Purses due to horseman (2,613 ) — (2,613 ) Accrued and other current liabilities (13,014 ) (128 ) (13,142 ) Lease obligations (1,333 ) — (1,333 ) Pension benefit obligations (6,613 ) — (6,613 ) Other long-term liabilities (2,332 ) (28 ) (2,360 ) Total purchase price $ 115,886 $ — $ 115,886 Dover Downs’ revenue for the three and six months ended June 30, 2019 was $25.8 million and $27.3 million , respectively. Net income for each of the three and six month periods ended June 30, 2019 was $1.3 million . The following table presents unaudited supplemental pro forma consolidated revenue and net income based on Dover Downs’ historical reporting periods as if the acquisition had occurred as of January 1, 2018: Three Months Ended Six Months Ended June 30, 2018 June 30, 2019 June 30, 2018 Revenue $ 134,365 $ 286,905 $ 261,946 Net income $ 21,368 $ 41,108 $ 34,101 Net income applicable to common stockholders $ 20,063 $ 41,108 $ 31,491 Net income per share, basic $ 0.50 $ 1.04 $ 0.79 Net income per share, diluted $ 0.48 $ 1.03 $ 0.74 Black Hawk, Colorado On January 29, 2019, the Company entered into an agreement to acquire a subsidiary of Affinity Gaming (“Affinity”) that owns three casino properties located in Black Hawk, Colorado: Golden Gates, Golden Gulch and Mardi Gras (“ Black Hawk, CO ”). Pending regulatory approval, and the satisfaction of other customary closing conditions, the transaction is expected to close in early 2020. Subsequent Event - Isle Kansas City and Lady Luck Vicksburg On July 10, 2019, the Company entered into a definitive agreement to acquire the operations and real estate of Isle of Capri Casino Kansas City in Kansas City, Missouri (“ Isle Kansas City ”) and Lady Luck Casino Vicksburg in Vicksburg, Mississippi (“ Lady Luck Vicksburg ”) from Eldorado Resorts, Inc. in a cash transaction for $230 million , subject to certain customary post-closing adjustments. The transaction is subject to the satisfaction of certain customary closing conditions, including approval by the gaming regulators in Mississippi and Missouri, and is expected to close in early 2020. The Company recorded acquisition costs related to pending acquisitions of Black Hawk, CO, Isle Kansas City and Lady Luck Vicksburg of $0.8 million and $1.2 million

SALE OF NEWPORT GRAND

SALE OF NEWPORT GRAND	6 Months Ended
	Jun. 30, 2019
Discontinued Operations and Disposal Groups [Abstract]
SALE OF NEWPORT GRAND	SALE OF NEWPORT GRAND On January 17, 2018, Newport Grand entered into a Purchase and Sale Agreement (the “Sale Agreement”) with a third party (the “Buyer”), pursuant to which the Buyer acquired the land and building relating to Newport Grand for $10.2 million in a transaction that closed on May 1, 2018. The Company leased back the Newport Grand from May 1, 2018 until November 1, 2018 at which time it vacated the property. This lease was accounted for as an operating lease. On August 28, 2018, Newport Grand was closed, and Tiverton Casino Hotel was opened on September 1, 2018. As of January 17, 2018, Newport Grand met the accounting guidance for assets held for sale, thus the Company recorded an impairment loss of $3.5 million during the three months ended March 31, 2018, for the difference between the fair value and the carrying value of the land, building and building improvements included in the Sale Agreement. The Company also recorded an expense of $2.4 million during the three months ended March 31, 2018, in accordance with ASC 450, Contingencies , as the amount due for certain liabilities became probable and reasonably estimable during the quarter ended March 31, 2018. The move from Newport Grand to Tiverton Casino Hotel occurred on September 1, 2018. The following sets forth the calculation of the Newport Grand disposal loss on the date the Company met the accounting guidance for assets held for sale for the six months ended June 30, 2018, all of which was recorded during the first quarter of 2018: (in thousands) Six Months Ended Stated sale price $ 10,150 Carrying value of Land, building and improvements (12,993 ) Transaction costs (669 ) Impairment loss (3,512 ) Participation fees (2,373 ) Newport Grand disposal loss $ (5,885 ) The sale of the Newport Grand assets did not qualify as a discontinued operation as the sale was not a strategic shift that has (or will have) a major effect on the Company’s operations and financial results.

ACCRUED LIABILITIES

ACCRUED LIABILITIES	6 Months Ended
	Jun. 30, 2019
Payables and Accruals [Abstract]
ACCRUED LIABILTIES	ACCRUED LIABILITIES As of June 30, 2019 and December 31, 2018 , accrued liabilities consisted of the following: (in thousands) June 30, December 31, Gaming liabilities $ 22,121 $ 18,740 Compensation 15,868 16,622 Legal 2,861 3,784 Construction accruals 89 3,677 Property taxes 3,589 2,582 Purses due to horsemen 4,866 — Dividend payable 4,144 — Interest payable 4,814 238 Other 18,344 12,135 Total accrued liabilities $ 76,696 $ 57,778

ACQUISITION, INTEGRATION AND RE

ACQUISITION, INTEGRATION AND RESTRUCTURING EXPENSE (Notes)	6 Months Ended
	Jun. 30, 2019
Restructuring and Related Activities [Abstract]
ACQUISITION, INTEGRATION AND RESTRUCTURING EXPENSE	ACQUISITION, INTEGRATION AND RESTRUCTURING EXPENSE The following table reflects acquisition, integration and restructuring expenses the Company recorded during the three and six months ended June 30, 2019 and 2018: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Acquisition and integration costs: Dover Downs merger and going public expenses $ 759 $ 664 $ 7,199 $ 664 Acquisition costs for other recently announced and pending acquisitions 764 — 1,202 — Total 1,523 664 8,401 664 Restructuring expense 716 — 716 — Total acquisition, integration and restructuring expense $ 2,239 $ 664 $ 9,117 $ 664 During the second quarter of 2019, the Company incurred restructuring expenses of $0.7 million related to severance costs incurred attributable to the acquisition of Dover Downs in the first quarter of 2019. The following table summarizes the change in the Company’s restructuring reserve recorded in “Accrued liabilities” of current liabilities in the condensed consolidated balance sheet as of June 30, 2019: Severance Restructuring liability as of December 31, 2018 $ — Additions 716 Payments (361 ) Restructuring liability as of June 30, 2019 $ 355 As of the end of the second quarter 2019, the Company is unable to estimate restructuring costs it expects to incur during the remainder of 2019; however, it does not expect such costs to exceed $0.5 million .

LONG TERM DEBT

LONG TERM DEBT	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
LONG TERM DEBT	LONG-TERM DEBT As of June 30, 2019 and December 31, 2018 , long-term debt consisted of the following: (in thousands) June 30, December 31, Term Loan principal $ 300,000 $ 342,439 Revolving Credit Facility — 55,000 6.75% Senior Notes due 2027 400,000 — Less: Unamortized original issue discount (2,142 ) (1,027 ) Less: Unamortized deferred financing fees (13,282 ) (2,239 ) Long-term debt, including current portion 684,576 394,173 Less: current portion of Term Loan and Revolving Credit Facility (3,000 ) (3,595 ) Long-term debt, net of discount and deferred financing fees, excluding current portion $ 681,576 $ 390,578 Senior Secured Credit Facility and 6.75% Senior Notes due 2027 On May 10, 2019, the Company entered into a credit agreement (“the “Credit Agreement”) with Citizens Bank, N.A., as administrative agent, (the “Agent”), and the lenders party thereto (the “Credit Facility”), consisting of a $300.0 million term loan B facility (the “Term Loan Facility”) and a $250.0 million revolving credit facility (the “Revolving Credit Facility”). The Company’s obligations under the Revolving Credit Facility will mature on May 10, 2024. The Company’s obligations under the Term Loan Facility will mature on May 10, 2026. The Company is required to make quarterly principal payments of $750,000 on the Term Loan Facility on the last business day of each fiscal quarter beginning on September 30, 2019. In addition, the Company is required to make mandatory payments of amounts outstanding under the Credit Facility with the proceeds of certain casualty events, debt issuances, and asset sales and, commencing with the fiscal year ending December 31, 2020, the Company is required to apply a portion of its excess cash flow to repay amounts outstanding under the Credit Facility. Borrowings under the Credit Facility bear interest at a rate equal to, at the Company’s option, either (1) LIBOR determined by reference to the costs of funds for U.S. dollar deposits for the interest period relevant to such borrowing, adjusted for certain additional costs and subject to a floor of 0.00% or (2) a base rate determined by reference to the greatest of the federal funds rate plus 0.50% , the prime rate as determined by the Agent, the one-month LIBOR rate plus 1.00% , and subject to a floor of 1.00% , in each case plus an applicable margin. In the event that the LIBOR rate is no longer available or no longer used to determine the interest rate of loans, the Company and the Agent will amend the Credit Agreement to replace LIBOR with an alternate benchmark rate that has been broadly accepted by the syndicated loan market in the United States in lieu of LIBOR and until such amendment has become effective, loans will be based on the base rate. In addition, on a quarterly basis, the Company is required to pay each lender under the Revolving Credit Facility a 0.5% commitment fee in respect of commitments under the Revolving Credit Facility, which may be subject to one or more step-downs based on the Company’s total net leverage ratio. As of June 30, 2019, the interest rate for the Credit Facility was 5.16% . There were no borrowings on the Revolving Credit Facility as of June 30, 2019. The Credit Facility allows the Company to (1) establish additional Term B Loans and/or establish one or more new tranches of term loans and/or (2) increase commitments under the Revolving Credit Facility and/or add one or more new tranches of revolving facilities, in an aggregate amount not to exceed (I) the greater of (x) $195 million and (y) 100% of consolidated EBITDA for the most recent four-quarter period plus or minus certain amounts as specified in the Credit Agreement, including an unlimited amount subject to compliance with a consolidated total secured net leverage ratio as set out in the Credit Agreement. The Company’s obligations under the Credit Facility are guaranteed by each of the Company’s existing and future wholly owned domestic restricted subsidiaries, subject to certain exceptions, and are secured by a first priority lien on substantially all of the Company’s and each of the guarantors’ existing and future property and assets, subject to certain exceptions. On May 10, 2019, the Company, issued $400 million aggregate principal amount of 6.75% unsecured senior notes due June 1, 2027 (the “Senior Notes”). Interest on the Senior Notes will be paid semi-annually in arrears on June 1 and December 1. The Company used a portion of the net proceeds from the Senior Notes, together with a portion of the proceeds from our Term Loan Facility, to repay borrowings under the Company’s prior credit agreement (the “Former Credit Facility”). The balance of such net proceeds is currently held in cash form. The Credit Facility and the indenture governing the Senior Notes (the “Indenture”) each contain covenants that limit the ability of the Company and its restricted subsidiaries to, among other things, incur additional indebtedness, pay dividends on or make distributions in respect of capital stock or make certain other restricted payments or investments, enter into certain transactions with affiliates, sell or otherwise dispose of assets, create or incur liens, and merge, consolidate or sell all or substantially all of the Company’s assets, in each case, subject to certain exceptions and qualifications. In addition, if more than 30% of the capacity of the Revolving Credit Facility is utilized, the Company must comply with a maximum total net leverage ratio, which is currently set at 5.50 :1.00. These covenants are subject to exceptions and qualifications set forth in the Credit Facility and the Indenture. The Company was in compliance with all such covenants as of June 30, 2019 . The Company may redeem some or all of the Senior Notes at any time prior to June 1, 2022 at a redemption price equal to 100% of the aggregate principal amount of the Senior Notes to be redeemed plus a “make-whole” premium and accrued and unpaid interest. In addition, prior to June 1, 2022, the Company may redeem up to 40% of the original principal amount of the Senior Notes with proceeds of certain equity offerings at a redemption price equal to 106.750% of the aggregate principal amount of such Senior Notes plus accrued and unpaid interest. On or after June 1, 2022, the Company may redeem some or all of the Senior Notes at the redemption prices set forth in the Indenture plus accrued and unpaid interest. The Senior Notes are subject to disposition and redemption requirements imposed by gaming laws and regulations of applicable gaming regulatory authorities. The Senior Notes are guaranteed, jointly and severally, by each of the Company’s restricted subsidiaries that guarantees our Credit Facility. Former Credit Agreements The Credit Facility replaced the Former Credit Facility, which was entered into on July 10, 2014, and included a term loan (“Former Term Loan”) in the principal amount of $480 million and an original issue discount of 1% , payable in quarterly installments of $1.2 million with the balance payable upon maturity on July 10, 2020 and a revolving credit facility (“Former Revolving Credit Facility”) with an original capacity of $40.0 million and a capacity on March 31, 2019 of $150 million as a result of several amendments, the last of which occurred on March 26, 2019 and increased the capacity from $100.0 million to $150.0 million to, among other things, help retire debt of Dover Downs at the closing of the acquisition on March 28, 2019. The interest rate for the Former Term Loan and the Former Revolving Credit Facility was based on LIBOR, with a LIBOR floor of 1.00% on the Former Term Loan, plus a 3.50% interest rate margin per annum in the case of both the Former Term Loan and Former Revolving Credit Facility. Both the Former Term Loan and the Former Revolving Credit Facility were pre-payable at any time, provided notice was given. The interest rate for the Former Term Loan was 6.30% as of December 31, 2018 . As of December 31, 2018 , the Former Revolving Credit Facility balance was $55.0 million . The Company repaid the Former Revolving Credit Facility and the Former Term Loan during the second quarter of 2019. There were no letters of credit issued as of December 31, 2018 . The weighted average interest rate on outstanding borrowings on the Former Revolving Credit facility was 6.26% on December 31, 2018 . There are no operations at TRWH. Cash held as of June 30, 2019 and December 31, 2018 was $261.9 million and $0.2 million , respectively, an increase driven by proceeds received from the Term Loan Facility and Senior Notes, as described above.

LEASES

LEASES	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
LEASES	LEASES Operating Leases The Company is committed under various operating lease agreements primarily related to submerged tidelands, property and equipment. Hard Rock Biloxi has an agreement with the State of Mississippi for the lease and use of approximately five acres of submerged tidelands for a primary term of thirty years , expiring September 30, 2037. Upon expiration of the primary term, Hard Rock Biloxi will have an option to extend the lease for a renewal term of thirty years ; the renewal option has not been included in the calculation of the lease liability or right of use asset as the Company is not reasonably certain to exercise the option. Annual rent for the lease as of June 30, 2019 is approximately $1.2 million and adjusts annually by the increase in the consumer price index (“CPI”). Future changes to the CPI are treated as variable lease payments and are recognized in the period in which the obligation for those payments are incurred. Hard Rock Biloxi also has a Lease and Air Space agreement with the City of Biloxi. The agreement grants the Company rights to a parking area, and to the airspace above two defined parcels of land along with certain support structure rights for the construction of a parking garage. The arrangement has a 40 -year term expiring November 18, 2043 with one 25 -year renewal option; the renewal option has not been included in the calculation of the lease liability or right of use asset as the Company is not reasonably certain to exercise the option. Monthly rent escalates every 5 years based on CPI, and the tenant is responsible for property taxes. Future changes to the CPI are treated as variable lease payments and are recognized in the period in which the obligation for those payments are incurred. Certain of the Company’s subsidiaries lease office, parking space, memorabilia and equipment under agreements classified as operating leases that expire on various dates through 2027. Certain of the Company’s leases include renewal options and escalation clauses; renewal options have not been included in the calculation of the lease liabilities and right of use assets as the Company is not reasonably certain to exercise the options. Discount rates used to determine the present value of the lease payments are based on a credit-adjusted secured borrowing rate commensurate with the term of the lease. Variable expenses generally represent the Company’s share of the landlord’s operating expenses and CPI increases. The Company does not have any leases classified as financing leases. During the six months ended June 30, 2019 , three equipment leases were terminated via purchase of the underlying assets. At June 30, 2019 , the Company had operating lease liabilities of approximately $17.7 million and right of use assets of approximately $17.7 million , which were included in the condensed consolidated balance sheet. The following summarizes quantitative information about the Company’s operating leases: (in thousands) Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Operating leases: Operating lease cost $ 544 $ 1,341 Variable lease cost 7 36 Operating lease expense 551 1,377 Short-term lease expense 450 883 Total lease expense $ 1,001 $ 2,260 (In thousands, except term and percentages) Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Other information Cash paid for amounts included in the lease liability - operating cash flows from operating leases $ 544 $ 1,353 Right of use assets obtained in exchange for operating lease liabilities $ 18,771 Weighted-average remaining lease term - operating leases 17.0 years Weighted-average discount rate - operating leases 6.8 % As of June 30, 2019 , future minimum rental commitments under noncancelable operating leases are as follows: (in thousands) Remaining 2019 $ 1,087 2020 2,157 2021 2,130 2022 1,846 2023 1,803 2024 1,753 Thereafter 19,503 Total 30,279 Less: present value discount (12,560 ) Operating lease obligations $ 17,719 As of December 31, 2018, as calculated under ASC 840, Leases , future undiscounted minimum rental commitments under noncancelable operating leases are as follows: (in thousands) 2019 $ 2,941 2020 2,308 2021 1,688 2022 1,627 2023 1,653 Thereafter 27,252 $ 37,469 The Company also has leasing arrangements with third-party lessees at its properties. Leasing arrangements for which the Company acts as a lessor are not deemed material as of June 30, 2019 .

BENEFIT PLANS

BENEFIT PLANS	6 Months Ended
	Jun. 30, 2019
Retirement Benefits [Abstract]
BENEFIT PLANS	BENEFIT PLANS The Company participates in and contributes to a number of multiemployer defined benefit pension plans under the terms of collective-bargaining agreements that cover certain of its union-represented employees. The Company acquired two defined benefit pension plans with the acquisition of Dover Downs on March 28, 2019, the Dover Downs Gaming & Entertainment, Inc. Pension Plan (“Dover Downs Pension Plan”) and the Dover Downs Gaming & Entertainment, Inc. Excess Pension Plan (“Excess Plan”). The acquisition resulted in a revaluation of the benefit pension plan obligation as of the acquisition date. Dover Downs Defined Benefit Pension Plan Dover Downs maintained the Dover Downs Pension Plan, a non-contributory, tax qualified defined benefit pension plan that has been frozen since July 2011. All full time employees, and part time employees who worked over 1,000 hours per year, were eligible to participate in the Dover Downs Pension Plan. Benefits provided by the qualified pension plan were based on years of service and employees’ remuneration over their term of employment. Compensation earned by employees up to July 31, 2011 is used for purposes of calculating benefits under the Dover Downs Pension Plan with no future benefit accruals after this date. As the Company consummated the acquisition of Dover Downs on March 28, 2019, the net periodic benefit (income) cost was immaterial for the three months ended March 31, 2019.The net periodic benefit (income) cost and other changes in plan assets and benefit obligations, excluding service cost, is set forth in the table below for the three and six months ended June 30, 2019. (in thousands) Three and Six Months Ended June 30, 2019 Service cost $ — Interest cost 221 Expected return on plan assets (325 ) Net periodic benefit (income) cost $ (104 ) The benefit obligation, fair value of plan assets and funded status of the Dover Downs Pension Plan assumed with the Dover Downs acquisition is as follows: (in thousands) March 28, Benefit obligation $ 24,067 Fair value of plan assets 17,454 Unfunded status $ (6,613 ) For the defined benefit pension plans, the accumulated benefit obligation is equal to the projected benefit obligation. The amount recognized in the condensed consolidated balance sheet as of the acquisition date is as follows: (in thousands) March 28, Pension benefit obligations $ 6,613 Assumptions The principal assumptions used to determine net periodic pension benefit cost and benefit obligation under the Dover Downs Pension Plan as of March 28, 2019 consisted of the following: Benefit Obligation Weighted-average discount rate 4.1 % Expected long-term rate of return on plan assets n/a The Company utilizes a spot rate approach to determine the benefit obligation and the subsequent years’ interest cost component of the net periodic pension benefit. This method uses individual spot rates along the yield curve that correspond with the timing of each benefit payment and will provide a more precise measurement of the interest cost by improving the correlation between projected benefit cash flows and the corresponding spot yield curve rates. The Society of Actuaries’ (“SOA”) RP 2014 Total Employee and Healthy Annuitant Mortality Tables rolled back to 2006 and projected with Mortality Improvement Scale MP-2018 are also utilized. For 2019 , the assumed long-term rate of return on plan assets is 7.5% . In developing the expected long-term rate of return assumption, the Company reviewed asset class return expectations and long-term inflation assumptions and considered its historical compounded return, which was consistent with its long-term rate of return assumption. Pension Plan Assets The Company’s investment goals for the Dover Downs Pension Plan assets are to achieve a combination of moderate growth of capital and income with moderate risk. Acceptable investment vehicles will include mutual funds, exchange-traded funds (“ETFs”), limited partnerships, and individual securities. Target allocations for plan assets are 60% equities and 40% fixed income. Of the equity portion, approximately 50% will be targeted to be invested in passively managed securities using ETFs and the other approximately 50% will be targeted to be invested in actively managed investment vehicles. Diversification is addressed by investing in mutual funds and ETFs which hold large, mid and small capitalization U.S. stocks, international (non-U.S.) equity, REITS, and real estate assets (consisting of inflation-linked bonds, real estate and natural resources). A percentage of investments are readily marketable in order to be sold to fund benefit payment obligations as they become payable. The asset allocation targets and the actual allocation of pension assets in the Dover Downs Pension Plan as of March 28, 2019 were as follows: Asset Category Target Asset Allocation as of March 28, 2019 Equity Securities 60 % 69 % Debt Securities 40 % 29 % Other — % 2 % Total 100 % 100 % The fair values of pension assets in the Dover Downs Pension Plan as of March 28, 2019 by asset category were as follows: (in thousands) Asset Category Total Level 1 Level 2 Level 3 Mutual funds/ETFs: Equity-large cap $ 4,932 $ 4,932 $ — $ — Equity-mid cap 2,044 2,044 — — Equity-small cap 2,465 2,465 — — Equity-international 2,681 2,681 — — Fixed income 4,981 4,981 — — Money market 351 351 — — Total mutual funds/ETFs $ 17,454 $ 17,454 $ — $ — Contributions Minimum pension contributions of $0.4 million are required to be made to the Dover Downs Pension Plan under the Employee Retirement Income Security Act of 1974, as amended, (“ERISA”) in 2019 . We expect to contribute approximately $0.4 million to the Dover Downs Pension Plan in 2019 . Estimated Future Benefit Payments The estimated future benefit payments under the Dover Downs Pension Plan are as follows: (in thousands) Remaining 2019 $ 522 2020 873 2021 911 2022 964 2023 1,035 Years 2024-2028 5,918 Excess Plan Dover Downs had historically maintained the Excess Plan, a non-qualified, non-contributory defined benefit pension plan for certain employees that had been frozen since July 2011. This Excess Plan provided benefits that would otherwise be provided under the qualified Dover Downs Pension Plan but for maximum benefit and compensation limits applicable under federal tax law. The cost associated with the Excess Plan is determined using the same actuarial methods and assumptions as those used for the qualified Dover Downs Pension Plan. The Excess Plan was settled as of March 31, 2019. The Company made a settlement payment of $0.5 million during the three months ended March 31, 2019. The settlement payment is recorded within accrued liabilities on the opening balance sheet as of the acquisition date. Supplemental Executive Retirement Plan The Company also acquired Dover Downs’ non-elective, non-qualified supplemental executive retirement plan (“SERP”) which provides deferred compensation to certain highly compensated employees of Dover Downs. The SERP is a discretionary defined contribution plan and contributions made to the SERP in any given year are not guaranteed and will be at the sole discretion of the committee responsible for administering the SERP. The liability for SERP pension benefits as of the acquisition date was de minimis. 401(k) Plan The Company has a retirement savings plan under Section 401(k) of the Internal Revenue Code covering non-union employees and certain union employees. The plan allows employees to defer up to the lesser of the Internal Revenue Code prescribed maximum amount or 100% of their income on a pre-tax basis through contributions to the plan. Total employer contribution expense to the 401(k) profit-sharing plan was $0.5 million and $0.8 million for the three and six months ended June 30, 2019 and $0.2 million and $0.5 million for the three and six months ended June 30, 2018 .

SEGMENT REPORTING

SEGMENT REPORTING	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTING As of June 30, 2019 , the Company has five operating segments: Twin River Casino Hotel, Hard Rock Biloxi, the Tiverton Casino Hotel, Dover Downs, and Mile High USA. Newport Grand, which represented an immaterial operating segment and operated up until its closing in August 2018, has been aggregated with Twin River Casino Hotel and Tiverton Casino Hotel to form the Rhode Island reportable segment. The Company’s Biloxi reportable segment includes only Hard Rock Biloxi. The Company is evaluating whether Dover Downs will be aggregated into one of the Company’s existing reportable segments or represent its own reportable segment. As of June 30, 2019 , and reflected in the table below, the Company reported Dover Downs separately under the “Delaware” segment, which includes only Dover Downs. The “Other” category includes Mile High USA, an immaterial operating segment. "Other" also includes interest expense for the Company and certain corporate operating expenses that are not allocated to the other segments, which include, among other expenses, share-based compensation, merger and acquisition costs, and certain non-recurring charges. The Company’s operations are all within the United States. The Company does not have any revenues from any individual customers that exceed 10% of total reported revenues. The following table shows revenues, income (loss), and identifiable assets for each of the Company’s reportable segments and reconciles these to amounts shown in the Company’s condensed consolidated financial statements. (in thousands) Rhode Island Delaware Biloxi Other Total Three Months Ended June 30, 2019 Total Revenue $ 82,856 $ 25,751 $ 32,118 $ 2,493 $ 143,218 Income (loss) from operations 31,552 1,862 5,655 (5,223 ) 33,846 Income (loss) before provision for income taxes 29,560 1,843 5,663 (13,741 ) 23,325 Depreciation and amortization 4,546 1,284 2,359 44 8,233 Interest expense 955 59 — 8,952 9,966 Capital expenditures 6,694 809 3,565 112 11,180 Goodwill 83,101 711 48,934 — 132,746 Total assets 588,224 137,914 268,092 235,234 1,229,464 Three Months Ended June 30, 2018 Total Revenue $ 75,935 n/a $ 32,016 $ 2,864 $ 110,815 Income (loss) from operations 32,776 n/a 5,914 (7,266 ) 31,424 Income (loss) before provision for income taxes 30,802 n/a 5,914 (10,360 ) 26,356 Depreciation and amortization 2,778 n/a 2,319 38 5,135 Interest expense 1,975 n/a 4 3,127 5,106 Capital expenditures 33,634 n/a 1,811 493 35,938 Goodwill 83,101 n/a 48,934 — 132,035 Total assets 393,606 n/a 246,344 106,379 746,329 (in thousands) Rhode Island Delaware Biloxi Other Total Six months ended June 30, 2019 Total Revenue $ 168,980 $ 27,275 $ 63,149 $ 4,445 $ 263,849 Income (loss) from operations 62,871 1,862 11,069 (11,649 ) 64,153 Income (loss) before provision for income taxes 58,567 1,843 11,081 (24,897 ) 46,594 Depreciation and amortization 8,961 1,284 4,666 91 15,002 Interest expense 3,275 59 — 13,683 17,017 Capital expenditures 13,597 809 4,148 125 18,679 Goodwill 83,101 711 48,934 — 132,746 Total assets 588,224 137,914 268,092 235,234 1,229,464 Six months ended June 30, 2018 Total Revenue $ 148,308 n/a $ 62,024 $ 5,289 $ 215,621 Income (loss) from operations 58,310 n/a 11,604 (13,613 ) 56,301 Income (loss) before provision for income taxes 53,869 n/a 11,602 (19,937 ) 45,534 Depreciation and amortization 5,641 n/a 4,632 74 10,347 Interest expense 4,443 n/a 8 6,394 10,845 Capital expenditures 51,501 n/a 3,080 23,867 78,448 Goodwill 83,101 n/a 48,934 — 132,035 Total assets 393,606 n/a 246,344 106,379 746,329

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE Basic earnings per common share (“EPS”) is calculated by dividing net income applicable to common shareholders by the weighted average number of common shares outstanding and Restricted Stock Units (“RSUs”) and Performance Stock Units (“PSUs”) for which no future service is required as a condition to the delivery of the underlying common stock (collectively, basic shares). Diluted EPS includes the determinants of basic EPS and, in addition, reflects the dilutive effect of the common stock deliverable for stock options, using the treasury stock method, and for RSUs and PSUs for which future service is required as a condition to the delivery of the underlying common stock. The table below presents the computations of basic and diluted EPS: Three Months Ended June 30, Six Months Ended June 30, (in thousands, except per share data) 2019 2018 2019 2018 Net income applicable to common stockholders $ 17,180 $ 18,995 $ 34,776 $ 30,324 Weighted average shares outstanding, basic 41,137 36,925 39,701 36,874 Weighted average effect of dilutive securities 124 1,616 121 1,698 Weighted average shares outstanding, diluted 41,261 38,541 39,822 38,572 Per share data Basic $ 0.42 $ 0.51 $ 0.88 $ 0.82 Diluted $ 0.42 $ 0.49 $ 0.87 $ 0.79 For the three and six months ended June 30, 2019 and 2018 , there were no share-based awards that were considered anti-dilutive.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On July 11, 2019, the Company announced that it had entered into a definitive agreement to purchase Isle Kansas City and Lady Luck Vicksburg . Refer to Note 4 . “Acquisitions” for more information. On July 26, 2019, the Company completed a modified Dutch auction tender offer (“Offer”) and repurchased approximately 2.5 million shares of its common stock for cash at a price of $29.50 per share for an aggregate purchase price of $75 million

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The accompanying condensed consolidated financial statements of the Company include the accounts of the Company and its wholly-owned subsidiary TRMG and its subsidiaries. All intercompany transactions and balances have been eliminated in the consolidation. Certain prior year amounts have been reclassified to conform to the current year’s presentation. The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for interim financial information, including the instructions to Form 10-Q and Rule 10-01 of the SEC’s Regulation S-X. Accordingly, certain information and note disclosures normally required in complete financial statements prepared in conformity with accounting principles generally accepted in the United States have been condensed or omitted. In the Company’s opinion, these condensed consolidated financial statements include all adjustments necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods presented. However, the results of operations for interim periods may not be indicative of the results that may be expected for a full year or any future period. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. Except as described below and in the Notes to the condensed consolidated financial statements, there were no material changes in significant accounting policies from those described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018.
Cash and Cash Equivalents and Restricted Cash	Cash and Cash Equivalents and Restricted Cash The Company considers all cash balances and highly liquid investments with an original maturity of three months or less to be cash equivalents.
Treasury Stock	Treasury Stock
Fair Value Measurement	Fair Value Measurements Fair value is determined using the principles of Financial Accounting Standards Board (“FASB”) Codification Topic 820, Fair Value Measurement (“ASC 820”). Fair value is described as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy prioritizes and defines the inputs to valuation techniques as follows: • Level 1: Observable quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2: Inputs are observable for the asset or liability either directly or through corroboration with observable market data. • Level 3: Unobservable inputs. The Company’s cash and cash equivalents, restricted cash, accounts receivable, accounts payable and accrued liabilities are carried at cost, which approximates fair value due to the short-term nature of these instruments. The carrying value of the Company’s term loans and revolving credit facilities, including the current portion, approximate fair value as the terms and conditions of these loans are consistent with comparable market debt issuances. These measurements fall within Level 2 of the fair value hierarchy.
Leases	Leases Effective January 1, 2019, the Company accounts for its leases under FASB Codification Topic 842, Leases (“ASC 842”). Under this guidance, arrangements meeting the definition of a lease are classified as operating or financing leases and are recorded on the condensed consolidated balance sheet as both a right of use asset and lease liability, calculated by discounting fixed lease payments over the lease term at the rate implicit in the lease or the Company’s incremental borrowing rate. Discount rates used to determine the present value of the lease payments are based on a credit-adjusted secured borrowing rate commensurate with the term of the lease. Lease liabilities are increased by interest and reduced by payments each period, and the right of use asset is amortized over the lease term. For operating leases, interest on the lease liability and the amortization of the right of use asset result in straight-line rent expense over the lease term. For finance leases, interest on the lease liability and the amortization of the right of use asset results in front-loaded expense over the lease term. Variable lease expenses are recorded when incurred. In calculating the right of use asset and lease liability, the Company accounts for both the lease component and the non-lease component as a single component for all classes of underlying assets. The Company excludes short-term leases having initial terms of 12 months or less from the new guidance as an accounting policy election and recognizes rent expense on a straight-line basis over the lease term. The Company also has leasing arrangements with third-party lessees at its properties. Leasing arrangements for which the Company acts as a lessor are not deemed to be material as of June 30, 2019 . The Company continues to account for leases in the prior period financial statements under ASC Topic 840. See Note 9 . “Leases” for further discussion.
Recently Adopted and Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements In February 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842) in order to increase transparency and comparability among organizations by, among other provisions, recognizing lease assets and lease liabilities on the balance sheet for those leases classified as operating leases under previous United States Generally Accepted Accounting Principles (“US GAAP”). For public companies, ASU 2016-02 is effective for fiscal years beginning after December 15, 2018 (including interim periods within those periods, which for the Company was the first quarter of 2019) using a modified retrospective approach and early adoption is permitted. In transition, entities may also elect a package of practical expedients that must be applied in its entirety to all leases commencing before the adoption date, unless the lease is modified, and permits entities to not reassess (a) the existence of a lease, (b) lease classification or (c) determination of initial direct costs, as of the adoption date, which effectively allows entities to carryforward accounting conclusions under previous U.S. GAAP. In July 2018, the FASB issued ASU 2018-11, Leases (Topic 842): Targeted Improvements , which provides entities an optional transition method to apply the guidance under Topic 842 as of the adoption date, rather than as of the earliest period presented. The Company adopted Topic 842 on January 1, 2019, using the optional transition method to apply the new guidance as of January 1, 2019, rather than as of the earliest period presented, and elected the entire package of practical expedients described above. Based on the analysis, on January 1, 2019, the Company recorded right of use assets and a corresponding lease liability of approximately $18.8 million . There was no impact to opening retained earnings. In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities, which changes the recognition and presentation requirements of hedge accounting, including eliminating the requirement to separately measure and report hedge ineffectiveness and presenting all items that affect earnings in the same income statement line item as the hedged item. The ASU also provides new alternatives for applying hedge accounting to additional hedging strategies, measuring the hedged item in fair value hedges of interest rate risk, reducing the cost and complexity of applying hedge accounting by easing the requirements for effectiveness testing, hedge documentation and application of the critical terms match method and reducing the risk of a material error correction if a company applies the shortcut method inappropriately. This ASU is effective for public companies in fiscal years beginning after December 15, 2018, which for the Company was the first quarter of 2019. The Company adopted the guidance in this ASU in the first quarter of 2019, with no impact to its condensed consolidated financial statements. Recently Issued Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326)—Measurement of Credit Losses on Financial Instruments . This standard amends several aspects of the measurement of credit losses on financial instruments, including trade receivables. The standard replaces the existing incurred credit loss model with the Current Expected Credit Losses (“CECL”) model and amends certain aspects of accounting for purchased financial assets with deterioration in credit quality since origination. Under CECL, the allowance for losses for financial assets that are measured at amortized cost reflects management’s estimate of credit losses over the remaining expected life of the financial assets, based on historical experience, current conditions and forecasts that affect the collectability of the reported amount. The standard is effective for annual and interim periods beginning after December 15, 2019, with early adoption permitted for annual and interim periods beginning after December 15, 2018. Adoption is through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective (a modified-retrospective approach). The Company anticipates adopting this standard in the first quarter of 2020. The impact of adoption on the Company’s consolidated financial statements will depend on, among other things, the economic environment and the type of financial assets held on the date of adoption. 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 does not expect it to have a significant impact on the condensed consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820),—Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement , which makes a number of changes meant to add, modify or remove certain disclosure requirements associated with the movement amongst or hierarchy associated with Level 1, Level 2 and Level 3 fair value measurements. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted upon issuance of the update. The Company anticipates adopting this amendment in the first quarter of 2020, and does not expect the adoption of this guidance to have a material impact on its condensed consolidated financial statements.

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Schedule of Cash and Restricted Cash	The following table reconciles cash and restricted cash in the condensed consolidated balance sheets to the total shown on the condensed consolidated statements of cash flows. June 30, December 31, (in thousands) 2019 2018 Cash and cash equivalents $ 383,431 $ 77,580 Restricted cash 7,455 3,851 Total cash and cash equivalents and restricted cash $ 390,886 $ 81,431
Schedule of Cash and Restricted Cash	The following table reconciles cash and restricted cash in the condensed consolidated balance sheets to the total shown on the condensed consolidated statements of cash flows. June 30, December 31, (in thousands) 2019 2018 Cash and cash equivalents $ 383,431 $ 77,580 Restricted cash 7,455 3,851 Total cash and cash equivalents and restricted cash $ 390,886 $ 81,431

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	6 Months Ended
	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Net Revenue	Six Months Ended June 30, 2019 Rhode Island Delaware Biloxi Other Total Gaming $ 134,412 $ 14,875 $ 41,815 $ — $ 191,102 Racing 2,146 279 — 4,298 6,723 Hotel 3,235 4,336 10,124 — 17,695 Food and beverage 17,400 6,689 8,221 2 32,312 Other 11,787 1,096 2,989 145 16,017 Total revenue $ 168,980 $ 27,275 $ 63,149 $ 4,445 $ 263,849 Six Months Ended June 30, 2018 Gaming $ 121,358 n/a $ 40,490 $ — $ 161,848 Racing 1,983 n/a — 5,171 7,154 Hotel — n/a 9,940 — 9,940 Food and beverage 14,671 n/a 9,114 1 23,786 Other 10,296 n/a 2,480 117 12,893 Total revenue $ 148,308 n/a $ 62,024 $ 5,289 $ 215,621 The following tables provide a disaggregation of revenue by segment: (in thousands) Rhode Island Delaware Biloxi Other Total Three Months Ended June 30, 2019 Gaming $ 65,572 $ 13,906 $ 20,756 $ — $ 100,234 Racing 1,155 252 — 2,376 3,783 Hotel 1,694 4,192 5,504 — 11,390 Food and beverage 8,308 6,339 4,152 2 18,801 Other 6,127 1,062 1,706 115 9,010 Total revenue $ 82,856 $ 25,751 $ 32,118 $ 2,493 $ 143,218 Three Months Ended June 30, 2018 Gaming $ 61,915 n/a $ 20,351 $ — $ 82,266 Racing 1,111 n/a — 2,759 3,870 Hotel — n/a 5,486 — 5,486 Food and beverage 7,381 n/a 4,917 — 12,298 Other 5,528 n/a 1,262 105 6,895 Total revenue $ 75,935 n/a $ 32,016 $ 2,864 $ 110,815 The estimated retail value related to goods and services provided to guests without charge or upon redemption under the Company’s player loyalty programs included in departmental revenues, and therefore reducing gaming revenues, are as follows for the three and six months ended June 30, 2019 and 2018 : Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2019 2018 2019 2018 Hotel $ 5,376 $ 2,792 $ 8,934 $ 5,325 Food and beverage 7,758 5,994 13,548 11,557 Other 1,783 1,516 3,161 2,578 $ 14,917 $ 10,302 $ 25,643 $ 19,460

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	6 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
Schedule of Consideration Transferred	(in thousands, except share and per share data) March 28, 2019 Dover Downs shares outstanding 33,125,997 Closing Dover Downs share price on March 27, 2019 $ 2.62 Total fair value of stock purchased * $ 86,790 Cash paid by the Company at closing, including amounts to retire Dover Downs debt, inclusive of accrued interest $ 29,096 Consideration transferred $ 115,886 *Shares issued at approximately $29.15 per share when considering the fair value of stock purchased and number of Company shares issued in conjunction with the acquisition.
Schedule of Assets Acquired and Liabilities Assumed	The following table summarizes the consideration paid and the preliminary fair values of the assets acquired and liabilities assumed. As of June 30, 2019, the purchase price allocation was preliminary and will be finalized when valuations are complete and final assessments of the fair value of other acquired assets and assumed liabilities are completed. There can be no assurance that such finalizations will not result in material changes from the preliminary purchase price allocations. The Company’s estimates and assumptions are subject to change during the measurement period (up to one year from the acquisition date), as the Company finalizes the valuations of certain tangible and intangible assets acquired and liabilities assumed. During the second quarter of fiscal 2019, the Company recorded adjustments to the preliminary opening balance sheet, as reflected in the table below, as a result of valuation procedures performed on balance sheet amounts. As a result of these adjustments, the Company recorded goodwill of $0.7 million . While the Company is still completing the final purchase accounting adjustments, material changes are not expected to the amounts recorded in the condensed consolidated financial statements as of June 30, 2019 . As of March 28, 2019 (in thousands) Preliminary as of March 31, 2019 Adjustments in Current Quarter Preliminary as of June 30, 2019 Cash $ 19,500 $ — $ 19,500 Accounts receivable 5,674 — 5,674 Due from State of Delaware 2,535 — 2,535 Inventory 1,891 (498 ) 1,393 Prepaid expenses and other assets 2,586 — 2,586 Property and equipment 103,657 (5,378 ) 98,279 Right of use asset 1,333 — 1,333 Intangible assets 5,110 — 5,110 Deferred income tax assets 6,655 5,224 11,879 Other assets 320 — 320 Goodwill — 711 711 Accounts payable (7,470 ) 97 (7,373 ) Purses due to horseman (2,613 ) — (2,613 ) Accrued and other current liabilities (13,014 ) (128 ) (13,142 ) Lease obligations (1,333 ) — (1,333 ) Pension benefit obligations (6,613 ) — (6,613 ) Other long-term liabilities (2,332 ) (28 ) (2,360 ) Total purchase price $ 115,886 $ — $ 115,886
Schedule of Supplemental Pro Forma Information	The following table presents unaudited supplemental pro forma consolidated revenue and net income based on Dover Downs’ historical reporting periods as if the acquisition had occurred as of January 1, 2018: Three Months Ended Six Months Ended June 30, 2018 June 30, 2019 June 30, 2018 Revenue $ 134,365 $ 286,905 $ 261,946 Net income $ 21,368 $ 41,108 $ 34,101 Net income applicable to common stockholders $ 20,063 $ 41,108 $ 31,491 Net income per share, basic $ 0.50 $ 1.04 $ 0.79 Net income per share, diluted $ 0.48 $ 1.03 $ 0.74

SALE OF NEWPORT GRAND (Tables)

SALE OF NEWPORT GRAND (Tables)	6 Months Ended
	Jun. 30, 2019
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Newport Grand Disposal Loss	The following sets forth the calculation of the Newport Grand disposal loss on the date the Company met the accounting guidance for assets held for sale for the six months ended June 30, 2018, all of which was recorded during the first quarter of 2018: (in thousands) Six Months Ended Stated sale price $ 10,150 Carrying value of Land, building and improvements (12,993 ) Transaction costs (669 ) Impairment loss (3,512 ) Participation fees (2,373 ) Newport Grand disposal loss $ (5,885 )

ACCRUED LIABILITIES (Tables)

ACCRUED LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2019
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	As of June 30, 2019 and December 31, 2018 , accrued liabilities consisted of the following: (in thousands) June 30, December 31, Gaming liabilities $ 22,121 $ 18,740 Compensation 15,868 16,622 Legal 2,861 3,784 Construction accruals 89 3,677 Property taxes 3,589 2,582 Purses due to horsemen 4,866 — Dividend payable 4,144 — Interest payable 4,814 238 Other 18,344 12,135 Total accrued liabilities $ 76,696 $ 57,778

ACQUISITION, INTEGRATION AND _2

ACQUISITION, INTEGRATION AND RESTRUCTURING EXPENSE (Tables)	6 Months Ended
	Jun. 30, 2019
Restructuring and Related Activities [Abstract]
Restructuring Charges	The following table reflects acquisition, integration and restructuring expenses the Company recorded during the three and six months ended June 30, 2019 and 2018: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Acquisition and integration costs: Dover Downs merger and going public expenses $ 759 $ 664 $ 7,199 $ 664 Acquisition costs for other recently announced and pending acquisitions 764 — 1,202 — Total 1,523 664 8,401 664 Restructuring expense 716 — 716 — Total acquisition, integration and restructuring expense $ 2,239 $ 664 $ 9,117 $ 664
Restructuring Reserve	The following table summarizes the change in the Company’s restructuring reserve recorded in “Accrued liabilities” of current liabilities in the condensed consolidated balance sheet as of June 30, 2019: Severance Restructuring liability as of December 31, 2018 $ — Additions 716 Payments (361 ) Restructuring liability as of June 30, 2019 $ 355 As of the end of the second quarter 2019, the Company is unable to estimate restructuring costs it expects to incur during the remainder of 2019; however, it does not expect such costs to exceed $0.5 million .

LONG TERM DEBT (Tables)

LONG TERM DEBT (Tables)	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Schedule of Long-term Debt	As of June 30, 2019 and December 31, 2018 , long-term debt consisted of the following: (in thousands) June 30, December 31, Term Loan principal $ 300,000 $ 342,439 Revolving Credit Facility — 55,000 6.75% Senior Notes due 2027 400,000 — Less: Unamortized original issue discount (2,142 ) (1,027 ) Less: Unamortized deferred financing fees (13,282 ) (2,239 ) Long-term debt, including current portion 684,576 394,173 Less: current portion of Term Loan and Revolving Credit Facility (3,000 ) (3,595 ) Long-term debt, net of discount and deferred financing fees, excluding current portion $ 681,576 $ 390,578

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Schedule of Quantitative Information of Operating Leases	The following summarizes quantitative information about the Company’s operating leases: (in thousands) Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Operating leases: Operating lease cost $ 544 $ 1,341 Variable lease cost 7 36 Operating lease expense 551 1,377 Short-term lease expense 450 883 Total lease expense $ 1,001 $ 2,260 (In thousands, except term and percentages) Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Other information Cash paid for amounts included in the lease liability - operating cash flows from operating leases $ 544 $ 1,353 Right of use assets obtained in exchange for operating lease liabilities $ 18,771 Weighted-average remaining lease term - operating leases 17.0 years Weighted-average discount rate - operating leases 6.8 %
Schedule of Future Minimum Rental Commitments	As of June 30, 2019 , future minimum rental commitments under noncancelable operating leases are as follows: (in thousands) Remaining 2019 $ 1,087 2020 2,157 2021 2,130 2022 1,846 2023 1,803 2024 1,753 Thereafter 19,503 Total 30,279 Less: present value discount (12,560 ) Operating lease obligations $ 17,719
Schedule of Future Minimum Rental Commitments Under ASC 840	As of December 31, 2018, as calculated under ASC 840, Leases , future undiscounted minimum rental commitments under noncancelable operating leases are as follows: (in thousands) 2019 $ 2,941 2020 2,308 2021 1,688 2022 1,627 2023 1,653 Thereafter 27,252 $ 37,469

BENEFIT PLANS (Tables)

BENEFIT PLANS (Tables)	6 Months Ended
	Jun. 30, 2019
Retirement Benefits [Abstract]
Schedule of Net Benefit Costs	The net periodic benefit (income) cost and other changes in plan assets and benefit obligations, excluding service cost, is set forth in the table below for the three and six months ended June 30, 2019. (in thousands) Three and Six Months Ended June 30, 2019 Service cost $ — Interest cost 221 Expected return on plan assets (325 ) Net periodic benefit (income) cost $ (104 )
Schedule of the Benefit Obligation, Fair Value of Plan Assets, and Funded Status	The benefit obligation, fair value of plan assets and funded status of the Dover Downs Pension Plan assumed with the Dover Downs acquisition is as follows: (in thousands) March 28, Benefit obligation $ 24,067 Fair value of plan assets 17,454 Unfunded status $ (6,613 )
Schedule of Amounts Recognized in Balance Sheet	The amount recognized in the condensed consolidated balance sheet as of the acquisition date is as follows: (in thousands) March 28, Pension benefit obligations $ 6,613
Schedule of Assumptions Used	The principal assumptions used to determine net periodic pension benefit cost and benefit obligation under the Dover Downs Pension Plan as of March 28, 2019 consisted of the following: Benefit Obligation Weighted-average discount rate 4.1 % Expected long-term rate of return on plan assets n/a
Schedule of Allocation of Plan Assets	The asset allocation targets and the actual allocation of pension assets in the Dover Downs Pension Plan as of March 28, 2019 were as follows: Asset Category Target Asset Allocation as of March 28, 2019 Equity Securities 60 % 69 % Debt Securities 40 % 29 % Other — % 2 % Total 100 % 100 % The fair values of pension assets in the Dover Downs Pension Plan as of March 28, 2019 by asset category were as follows: (in thousands) Asset Category Total Level 1 Level 2 Level 3 Mutual funds/ETFs: Equity-large cap $ 4,932 $ 4,932 $ — $ — Equity-mid cap 2,044 2,044 — — Equity-small cap 2,465 2,465 — — Equity-international 2,681 2,681 — — Fixed income 4,981 4,981 — — Money market 351 351 — — Total mutual funds/ETFs $ 17,454 $ 17,454 $ — $ —
Schedule of Estimated Future Benefit Payments	The estimated future benefit payments under the Dover Downs Pension Plan are as follows: (in thousands) Remaining 2019 $ 522 2020 873 2021 911 2022 964 2023 1,035 Years 2024-2028 5,918

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Schedule of Reportable Segment Information	The following table shows revenues, income (loss), and identifiable assets for each of the Company’s reportable segments and reconciles these to amounts shown in the Company’s condensed consolidated financial statements. (in thousands) Rhode Island Delaware Biloxi Other Total Three Months Ended June 30, 2019 Total Revenue $ 82,856 $ 25,751 $ 32,118 $ 2,493 $ 143,218 Income (loss) from operations 31,552 1,862 5,655 (5,223 ) 33,846 Income (loss) before provision for income taxes 29,560 1,843 5,663 (13,741 ) 23,325 Depreciation and amortization 4,546 1,284 2,359 44 8,233 Interest expense 955 59 — 8,952 9,966 Capital expenditures 6,694 809 3,565 112 11,180 Goodwill 83,101 711 48,934 — 132,746 Total assets 588,224 137,914 268,092 235,234 1,229,464 Three Months Ended June 30, 2018 Total Revenue $ 75,935 n/a $ 32,016 $ 2,864 $ 110,815 Income (loss) from operations 32,776 n/a 5,914 (7,266 ) 31,424 Income (loss) before provision for income taxes 30,802 n/a 5,914 (10,360 ) 26,356 Depreciation and amortization 2,778 n/a 2,319 38 5,135 Interest expense 1,975 n/a 4 3,127 5,106 Capital expenditures 33,634 n/a 1,811 493 35,938 Goodwill 83,101 n/a 48,934 — 132,035 Total assets 393,606 n/a 246,344 106,379 746,329 (in thousands) Rhode Island Delaware Biloxi Other Total Six months ended June 30, 2019 Total Revenue $ 168,980 $ 27,275 $ 63,149 $ 4,445 $ 263,849 Income (loss) from operations 62,871 1,862 11,069 (11,649 ) 64,153 Income (loss) before provision for income taxes 58,567 1,843 11,081 (24,897 ) 46,594 Depreciation and amortization 8,961 1,284 4,666 91 15,002 Interest expense 3,275 59 — 13,683 17,017 Capital expenditures 13,597 809 4,148 125 18,679 Goodwill 83,101 711 48,934 — 132,746 Total assets 588,224 137,914 268,092 235,234 1,229,464 Six months ended June 30, 2018 Total Revenue $ 148,308 n/a $ 62,024 $ 5,289 $ 215,621 Income (loss) from operations 58,310 n/a 11,604 (13,613 ) 56,301 Income (loss) before provision for income taxes 53,869 n/a 11,602 (19,937 ) 45,534 Depreciation and amortization 5,641 n/a 4,632 74 10,347 Interest expense 4,443 n/a 8 6,394 10,845 Capital expenditures 51,501 n/a 3,080 23,867 78,448 Goodwill 83,101 n/a 48,934 — 132,035 Total assets 393,606 n/a 246,344 106,379 746,329

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Schedule of Computations of Basic and Diluted EPS	The table below presents the computations of basic and diluted EPS: Three Months Ended June 30, Six Months Ended June 30, (in thousands, except per share data) 2019 2018 2019 2018 Net income applicable to common stockholders $ 17,180 $ 18,995 $ 34,776 $ 30,324 Weighted average shares outstanding, basic 41,137 36,925 39,701 36,874 Weighted average effect of dilutive securities 124 1,616 121 1,698 Weighted average shares outstanding, diluted 41,261 38,541 39,822 38,572 Per share data Basic $ 0.42 $ 0.51 $ 0.88 $ 0.82 Diluted $ 0.42 $ 0.49 $ 0.87 $ 0.79

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details) $ / shares in Units, $ in Thousands	Jun. 14, 2019USD ($)$ / shares	Jan. 29, 2019casino	Jan. 18, 2019$ / sharesshares	Jun. 30, 2019USD ($)$ / sharesshares	Mar. 31, 2019USD ($)shares	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Jun. 30, 2019USD ($)$ / sharesshares	Jun. 30, 2018USD ($)	Dec. 31, 2018USD ($)$ / sharesshares
Class of Stock [Line Items]
Number of businesses acquired | casino		3
Stock split, conversion ratio			3
Common stock issued (in shares) | shares				41,163,937				41,163,937		39,421,356
Common stock authorized (in shares) | shares			100,000,000	100,000,000				100,000,000		100,000,000
Common stock par value (in dollars per share) | $ / shares			$ 0.01	$ 0.01				$ 0.01		$ 0.01
Maximum expenditure for stock repurchase program and payment of dividends	$ 250,000
Common stock cash dividend declared (in dollars per share) | $ / shares	$ 0.10			$ 100
Restricted cash				$ 7,455				$ 7,455		$ 3,851
Treasury stock retired (in shares) | shares				0	1,431,980
Stock repurchased (in shares) | shares				0	16,340
Stock repurchased					$ 409
Increase in net income				$ 17,180	$ 17,596	$ 20,300	$ 12,634	34,776	$ 32,934
Accounting Standards Update 2016-09
Class of Stock [Line Items]
Reduction in share based compensation expense				200				100
Increase in net income				$ 100				$ 100
Previously Reported
Class of Stock [Line Items]
Common stock issued (in shares) | shares										9,855,339

SIGNIFICANT ACCOUNTING POLICI_5

SIGNIFICANT ACCOUNTING POLICIES - Schedule of Cash and Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Cash and cash equivalents	$ 383,431	$ 77,580
Restricted cash	7,455	3,851
Total cash and cash equivalents and restricted cash	$ 390,886	$ 81,431	$ 72,997	$ 93,216

RECENTLY ADOPTED AND ISSUED A_2

RECENTLY ADOPTED AND ISSUED ACCOUNTING PRONOUNCEMENTS (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right of use assets, net	$ 17,717		$ 0
Lease liability	$ 17,719
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right of use assets, net		$ 18,800
Lease liability		$ 18,800

REVENUE RECOGNITION - Addition

REVENUE RECOGNITION - Additional Information (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019USD ($)terminal	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)terminal	Jun. 30, 2018USD ($)	Dec. 31, 2018USD ($)
Disaggregation of Revenue [Line Items]
Contracts with customers receivables	$ 16.5		$ 16.5		$ 13.3
Loyalty Programs
Disaggregation of Revenue [Line Items]
Contract liabilities	12		12		9.5
Contract liabilities, revenue recognized	2.3	$ 2.1	4.6	$ 4
Customer Deposits
Disaggregation of Revenue [Line Items]
Contract liabilities	2.1		2.1		0.6
Unpaid Tickets
Disaggregation of Revenue [Line Items]
Contract liabilities	$ 1.1		$ 1.1		$ 0.9
Rhode Island | VLT Revenue
Disaggregation of Revenue [Line Items]
Number of Video Lottery Terminals (VLTs) | terminal	3,002		3,002
Rhode Island | Table Games Revenue
Disaggregation of Revenue [Line Items]
Percentage of share of revenues	83.50%		83.50%
Rhode Island | Threshold One | VLT Revenue
Disaggregation of Revenue [Line Items]
Percentage of share of revenues	28.85%		28.85%
Rhode Island | Threshold Two | VLT Revenue
Disaggregation of Revenue [Line Items]
Percentage of share of revenues	26.00%		26.00%
Delaware | VLT Revenue
Disaggregation of Revenue [Line Items]
Percentage of share of revenues	42.00%		42.00%
Delaware | Table Games Revenue
Disaggregation of Revenue [Line Items]
Percentage of share of revenues	80.00%		80.00%

REVENUE RECOGNITION - Loyalty

REVENUE RECOGNITION - Loyalty Programs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Hotel
Disaggregation of Revenue [Line Items]
Goods and services provided without charge	$ 5,376	$ 2,792	$ 8,934	$ 5,325
Food and beverage
Disaggregation of Revenue [Line Items]
Goods and services provided without charge	7,758	5,994	13,548	11,557
Other
Disaggregation of Revenue [Line Items]
Goods and services provided without charge	1,783	1,516	3,161	2,578
Loyalty Programs
Disaggregation of Revenue [Line Items]
Goods and services provided without charge	$ 14,917	$ 10,302	$ 25,643	$ 19,460

REVENUE RECOGNITION - Disaggre

REVENUE RECOGNITION - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Total Revenue	$ 143,218	$ 110,815	$ 263,849	$ 215,621
Gaming
Disaggregation of Revenue [Line Items]
Total Revenue	100,234	82,266	191,102	161,848
Racing
Disaggregation of Revenue [Line Items]
Total Revenue	3,783	3,870	6,723	7,154
Hotel
Disaggregation of Revenue [Line Items]
Total Revenue	11,390	5,486	17,695	9,940
Food and beverage
Disaggregation of Revenue [Line Items]
Total Revenue	18,801	12,298	32,312	23,786
Other
Disaggregation of Revenue [Line Items]
Total Revenue	9,010	6,895	16,017	12,893
Rhode Island
Disaggregation of Revenue [Line Items]
Total Revenue	82,856	75,935	168,980	148,308
Rhode Island | Gaming
Disaggregation of Revenue [Line Items]
Total Revenue	65,572	61,915	134,412	121,358
Rhode Island | Racing
Disaggregation of Revenue [Line Items]
Total Revenue	1,155	1,111	2,146	1,983
Rhode Island | Hotel
Disaggregation of Revenue [Line Items]
Total Revenue	1,694	0	3,235	0
Rhode Island | Food and beverage
Disaggregation of Revenue [Line Items]
Total Revenue	8,308	7,381	17,400	14,671
Rhode Island | Other
Disaggregation of Revenue [Line Items]
Total Revenue	6,127	5,528	11,787	10,296
Delaware
Disaggregation of Revenue [Line Items]
Total Revenue	25,751		27,275
Delaware | Gaming
Disaggregation of Revenue [Line Items]
Total Revenue	13,906		14,875
Delaware | Racing
Disaggregation of Revenue [Line Items]
Total Revenue	252		279
Delaware | Hotel
Disaggregation of Revenue [Line Items]
Total Revenue	4,192		4,336
Delaware | Food and beverage
Disaggregation of Revenue [Line Items]
Total Revenue	6,339		6,689
Delaware | Other
Disaggregation of Revenue [Line Items]
Total Revenue	1,062		1,096
Biloxi
Disaggregation of Revenue [Line Items]
Total Revenue	32,118	32,016	63,149	62,024
Biloxi | Gaming
Disaggregation of Revenue [Line Items]
Total Revenue	20,756	20,351	41,815	40,490
Biloxi | Racing
Disaggregation of Revenue [Line Items]
Total Revenue	0	0	0	0
Biloxi | Hotel
Disaggregation of Revenue [Line Items]
Total Revenue	5,504	5,486	10,124	9,940
Biloxi | Food and beverage
Disaggregation of Revenue [Line Items]
Total Revenue	4,152	4,917	8,221	9,114
Biloxi | Other
Disaggregation of Revenue [Line Items]
Total Revenue	1,706	1,262	2,989	2,480
Other
Disaggregation of Revenue [Line Items]
Total Revenue	2,493	2,864	4,445	5,289
Other | Gaming
Disaggregation of Revenue [Line Items]
Total Revenue	0	0	0	0
Other | Racing
Disaggregation of Revenue [Line Items]
Total Revenue	2,376	2,759	4,298	5,171
Other | Hotel
Disaggregation of Revenue [Line Items]
Total Revenue	0	0	0	0
Other | Food and beverage
Disaggregation of Revenue [Line Items]
Total Revenue	2	0	2	1
Other | Other
Disaggregation of Revenue [Line Items]
Total Revenue	$ 115	$ 105	$ 145	$ 117

ACQUISITIONS - Additional Info

ACQUISITIONS - Additional Information (Details) $ in Thousands	Jan. 01, 2020USD ($)casino	Mar. 28, 2019USD ($)shares	Jan. 29, 2019casino	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Business Acquisition [Line Items]
Total consideration paid, net of cash acquired						$ 9,606	$ 0
Transaction costs				$ 1,523	$ 664	8,401	664
Goodwill				132,746	132,035	132,746	132,035		$ 132,035
Number of businesses acquired | casino			3
Dover Downs
Business Acquisition [Line Items]
Percentage of common stock owned by acquiree		7.225%
Common stock issued (in shares) | shares		2,976,825
Total consideration paid		$ 115,886
Total consideration paid, net of cash acquired		96,400
Cash acquired		19,500
Transaction costs				759	664	7,199	664
Goodwill				711		711		$ 0
Net revenue from date of acquisition				25,800		27,300
Net income from date of acquisition				1,300		1,300
Dover Downs | Trademarks
Business Acquisition [Line Items]
Intangible assets acquired		$ 3,900
Acquired intangible assets, useful life		10 years
Dover Downs | Rated Player Relationships
Business Acquisition [Line Items]
Intangible assets acquired		$ 800
Acquired intangible assets, useful life		8 years
Dover Downs | Hotel and Conference Pre-bookings
Business Acquisition [Line Items]
Intangible assets acquired		$ 400
Acquired intangible assets, useful life		3 years
Isle Kansas City and Lady Luck Vicksburg
Business Acquisition [Line Items]
Transaction costs				$ 764	$ 0	$ 1,202	$ 0
Scenario, Forecast | Black Hawk
Business Acquisition [Line Items]
Number of businesses acquired | casino	3
Scenario, Forecast | Isle Kansas City and Lady Luck Vicksburg
Business Acquisition [Line Items]
Total consideration paid	$ 230,000

ACQUISITIONS - Consideration T

ACQUISITIONS - Consideration Transferred (Details) - Dover Downs $ / shares in Units, $ in Thousands	Mar. 28, 2019USD ($)$ / sharesshares
Business Acquisition [Line Items]
Dover Downs shares outstanding (in shares) | shares	33,125,997
Closing Dover Downs share price on March 27, 2019 (in dollars per share) | $ / shares	$ 2.62
Total fair value of stock purchased	$ 86,790
Cash paid by the Company at closing, including amounts to retire Dover Downs debt, inclusive of accrued interest	29,096
Consideration transferred	$ 115,886
Shares issued (in dollars per share) | $ / shares	$ 29.15

ACQUISITIONS - Assets Acquired

ACQUISITIONS - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018
Purchase Price Allocation
Goodwill	$ 132,746		$ 132,035	$ 132,035
Dover Downs
Purchase Price Allocation
Cash	19,500	$ 19,500
Accounts receivable	5,674	5,674
Due from State of Delaware	2,535	2,535
Inventory	1,393	1,891
Prepaid expenses and other assets	2,586	2,586
Property and equipment	98,279	103,657
Right of use asset	1,333	1,333
Intangible assets	5,110	5,110
Deferred income tax assets	11,879	6,655
Other assets	320	320
Goodwill	711	0
Accounts payable	(7,373)	(7,470)
Purses due to horseman	(2,613)	(2,613)
Accrued and other current liabilities	(13,142)	(13,014)
Lease obligations	(1,333)	(1,333)
Pension benefit obligations	(6,613)	(6,613)
Other long-term liabilities	(2,360)	(2,332)
Total purchase price	115,886	$ 115,886
Purchase Price Allocation Adjustment
Cash	0
Accounts receivable	0
Due from State of Delaware	0
Inventory	(498)
Prepaid expenses and other assets	0
Property and equipment	(5,378)
Right of use asset	0
Intangible assets	0
Deferred income tax assets	5,224
Other assets	0
Goodwill	711
Accounts payable	97
Purses due to horseman	0
Accrued and other current liabilities	(128)
Lease obligations	0
Pension benefit obligations	0
Other long-term liabilities	(28)
Total purchase price	$ 0

ACQUISITIONS - Supplemental Pr

ACQUISITIONS - Supplemental Pro Forma Information (Details) - Dover Downs - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Business Acquisition [Line Items]
Revenue	$ 134,365	$ 286,905	$ 261,946
Net income	21,368	41,108	34,101
Net income applicable to common stockholders	$ 20,063	$ 41,108	$ 31,491
Net income per share, basic (in dollars per share)	$ 0.50	$ 1.04	$ 0.79
Net income per share, diluted (in dollars per share)	$ 0.48	$ 1.03	$ 0.74

SALE OF NEWPORT GRAND - Additi

SALE OF NEWPORT GRAND - Additional Information (Details) - Sale of Newport Grand - Disposal Group, Held-for-sale, Not Discontinued Operations - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2018	Jun. 30, 2018	May 01, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Stated sale price		$ 10,150	$ 10,200
Impairment loss	$ 3,500	3,512
Contingencies expense	$ 2,400	$ 2,373

SALE OF NEWPORT GRAND - Loss o

SALE OF NEWPORT GRAND - Loss on Disposal (Details) - Sale of Newport Grand - Disposal Group, Held-for-sale, Not Discontinued Operations - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 31, 2018	Jun. 30, 2018	May 01, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Stated sale price		$ 10,150	$ 10,200
Carrying value of Land, building and improvements		(12,993)
Transaction costs		(669)
Impairment loss	$ (3,500)	(3,512)
Participation fees	$ (2,400)	(2,373)
Newport Grand disposal loss		$ (5,885)

ACCRUED LIABILITIES (Details)

ACCRUED LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Payables and Accruals [Abstract]
Gaming liabilities	$ 22,121	$ 18,740
Compensation	15,868	16,622
Legal	2,861	3,784
Construction accruals	89	3,677
Property taxes	3,589	2,582
Purses due to horsemen	4,866	0
Dividend payable	4,144	0
Interest payable	4,814	238
Other	18,344	12,135
Total accrued liabilities	$ 76,696	$ 57,778

ACQUISITION, INTEGRATION AND _3

ACQUISITION, INTEGRATION AND RESTRUCTURING EXPENSE - Restructuring Charges (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Restructuring Cost and Reserve [Line Items]
Acquisition costs for other recently announced and pending acquisitions	$ 1,523	$ 664	$ 8,401	$ 664
Restructuring expense	716	0	716	0
Total acquisition, integration and restructuring expense	2,239	664	9,117	664
Dover Downs Merger
Restructuring Cost and Reserve [Line Items]
Acquisition costs for other recently announced and pending acquisitions	759	664	7,199	664
Other Recently Announced and Pending Acquisitions
Restructuring Cost and Reserve [Line Items]
Acquisition costs for other recently announced and pending acquisitions	$ 764	$ 0	$ 1,202	$ 0

ACQUISITION, INTEGRATION AND _4

ACQUISITION, INTEGRATION AND RESTRUCTURING EXPENSE - Restructuring Reserve (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Restructuring Reserve [Roll Forward]
Restructuring liability as of December 31, 2018			$ 0
Additions	$ 716	$ 0	716	$ 0
Payments			(361)
Restructuring liability as of June 30, 2019	355		355
Estimated restructuring costs, not to exceed	$ 500		$ 500

LONG TERM DEBT - Schedule of L

LONG TERM DEBT - Schedule of Long Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Less: Unamortized original issue discount	$ (2,142)	$ (1,027)
Less: Unamortized deferred financing fees	(13,282)	(2,239)
Long-term debt, including current portion	684,576	394,173
Less: current portion of Term Loan and Revolving Credit Facility	(3,000)	(3,595)
Long-term debt, net of discount and deferred financing fees, excluding current portion	681,576	390,578
Line of Credit | Term Loan principal
Debt Instrument [Line Items]
Long-term debt, gross	300,000	342,439
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt, gross	0	55,000
6.75% Senior Notes due 2027
Debt Instrument [Line Items]
Long-term debt, gross	$ 400,000	$ 0

LONG TERM DEBT - Additional In

LONG TERM DEBT - Additional Information (Details) - USD ($)	May 10, 2019	Jul. 10, 2014	Jun. 30, 2019	Mar. 31, 2019	Mar. 26, 2019	Mar. 25, 2019	Dec. 31, 2018
Credit Facility
Debt Instrument [Line Items]
Interest rate							6.26%
Line of Credit | Senior Secured Credit Facility
Debt Instrument [Line Items]
Interest rate			5.16%
Commitment increase limit	$ 195,000,000
Commitment increase limit, EBITDA	100.00%
Line of Credit | Senior Secured Credit Facility | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
Floor on variable rate, option two	1.00%
Line of Credit | Senior Secured Credit Facility | Federal Funds Effective Swap Rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
Line of Credit | Credit Facility
Debt Instrument [Line Items]
Cash held			$ 261,900,000				$ 200,000
6.75% Senior Notes due 2027 | 6.75% Senior Notes due 2027
Debt Instrument [Line Items]
Interest rate	6.75%
Maximum capacity on line of credit	30.00%
Principal amount	$ 400,000,000
Maximum leverage ratio	5.50
Amount of principal amount redeemable			40.00%
Amount of notes redeemable plus accrued and unpaid interest			106.75%
Term Loan | Line of Credit | Senior Secured Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 300,000,000
Quarterly principal payment amounts	750,000
Term Loan | Line of Credit | Credit Facility
Debt Instrument [Line Items]
Quarterly principal payment amounts		$ 1,200,000
Interest rate							6.30%
Principal amount		$ 480,000,000
Discount at issuance		1.00%
Revolving Credit Facility | Line of Credit | Senior Secured Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 250,000,000
Commitment fee	0.50%
Outstanding balance			$ 0
Revolving Credit Facility | Line of Credit | Senior Secured Credit Facility | LIBOR
Debt Instrument [Line Items]
Floor on variable rate, option one	0.00%
Revolving Credit Facility | Line of Credit | Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 40,000,000		$ 150,000,000	$ 150,000,000	$ 100,000,000
Outstanding balance							$ 55,000,000
Revolving Credit Facility | Line of Credit | Credit Facility | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		3.50%
Floor on variable rate		1.00%
Letter of Credit | Line of Credit | Credit Facility
Debt Instrument [Line Items]
Outstanding balance							$ 0

LEASES - Additional Informatio

LEASES - Additional Information (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)aleaseparcel	Dec. 31, 2018USD ($)
Lessee, Lease, Description [Line Items]
Lease liability	$ 17,719
Right of use assets, net	$ 17,717	$ 0
Equipment
Lessee, Lease, Description [Line Items]
Number of leases terminated | lease	3
Tidelands In Mississippi
Lessee, Lease, Description [Line Items]
Area of lease | a	5
Term of contract	30 years
Renewal term	30 years
Annual rent	$ 1,200
Lease And Air Space Agreement
Lessee, Lease, Description [Line Items]
Term of contract	40 years
Renewal term	25 years
Number of parcels of land | parcel	2
Frequency of rent escalation	5 years

LEASES - Quantitative Informat

LEASES - Quantitative Information of Operating Leases (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2019USD ($)
Lease, Cost [Abstract]
Operating lease cost	$ 544	$ 1,341
Variable lease cost	7	36
Operating lease expense	551	1,377
Short-term lease expense	450	883
Total lease expense	1,001	2,260
Cash paid for amounts included in the lease liability - operating cash flows from operating leases	$ 544	1,353
Right of use assets obtained in exchange for operating lease liabilities		$ 18,771
Weighted-average remaining lease term - operating leases	17 years	17 years
Weighted-average discount rate - operating leases	6.80%	6.80%

LEASES - Future Minimum Rental

LEASES - Future Minimum Rental Commitments (Details) $ in Thousands	Jun. 30, 2019USD ($)
Leases [Abstract]
Remaining 2019	$ 1,087
2020	2,157
2021	2,130
2022	1,846
2023	1,803
2024	1,753
Thereafter	19,503
Total	30,279
Less: present value discount	(12,560)
Operating lease obligations	$ 17,719

LEASES - ASC 840 Future Minimu

LEASES - ASC 840 Future Minimum Rental Commitments (Details) $ in Thousands	Dec. 31, 2018USD ($)
Leases [Abstract]
2019	$ 2,941
2020	2,308
2021	1,688
2022	1,627
2023	1,653
Thereafter	27,252
Future minimum payments due	$ 37,469

BENEFIT PLANS - Additional Inf

BENEFIT PLANS - Additional Information (Details) $ in Millions	Mar. 28, 2019plan	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)hour	Jun. 30, 2018USD ($)
Defined Benefit Plan Disclosure [Line Items]
Number of defined benefit plans acquired | plan	2
Maximum percentage of employees income available for contribution					100.00%
Employer contribution expense		$ 0.5		$ 0.2	$ 0.8	$ 0.5
Dover Downs Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Eligibility hours worked per year | hour					1,000
Assumed long-term rate of return on plan assets					7.50%
Plan assets, target allocation			100.00%
Minimum required pension contributions		0.4			$ 0.4
Expected employer contributions		$ 0.4			$ 0.4
Dover Downs Pension Plan | Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation		60.00%	60.00%		60.00%
Dover Downs Pension Plan | Equity Securities | Passively Managed
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation		50.00%			50.00%
Dover Downs Pension Plan | Equity Securities | Actively Managed
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation		50.00%			50.00%
Dover Downs Pension Plan | Debt Securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation		40.00%	40.00%		40.00%
Excess Plan
Defined Benefit Plan Disclosure [Line Items]
Settlement payment			$ 0.5

BENEFIT PLANS - Net Periodic B

BENEFIT PLANS - Net Periodic Benefit (Income) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Retirement Benefits [Abstract]
Service cost	$ 0	$ 0
Interest cost	221	221
Expected return on plan assets	(325)	(325)
Net periodic benefit (income) cost	$ (104)	$ (104)

BENEFIT PLANS - Benefit Obliga

BENEFIT PLANS - Benefit Obligation, Fair Value of Plan Assets, and Funded Status (Details) - Dover Downs Pension Plan $ in Thousands	Mar. 28, 2019USD ($)
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation	$ 24,067
Fair value of plan assets	17,454
Unfunded status	$ (6,613)

BENEFIT PLANS - Amounts Recogn

BENEFIT PLANS - Amounts Recognized in Balance Sheet (Details) $ in Thousands	Mar. 28, 2019USD ($)
Dover Downs Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Pension benefit obligations	$ 6,613

BENEFIT PLANS - Assumptions Us

BENEFIT PLANS - Assumptions Used (Details)	Mar. 28, 2019
Dover Downs Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Weighted-average discount rate	4.10%

BENEFIT PLANS - Allocation of

BENEFIT PLANS - Allocation of Plan Assets (Details) - Dover Downs Pension Plan - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019	Mar. 28, 2019
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation		100.00%
Plan assets, actual allocation		100.00%
Fair value of plan assets			$ 17,454
Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets			17,454
Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets			0
Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets			0
Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation	60.00%	60.00%
Plan assets, actual allocation		69.00%
Debt Securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation	40.00%	40.00%
Plan assets, actual allocation		29.00%
Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets, target allocation		0.00%
Plan assets, actual allocation		2.00%
Equity-large cap
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets			4,932
Equity-large cap | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets			4,932
Equity-large cap | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets			0
Equity-large cap | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets			0
Equity-mid cap
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets			2,044
Equity-mid cap | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets			2,044
Equity-mid cap | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets			0
Equity-mid cap | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets			0
Equity-small cap
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets			2,465
Equity-small cap | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets			2,465
Equity-small cap | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets			0
Equity-small cap | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets			0
Equity-international
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets			2,681
Equity-international | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets			2,681
Equity-international | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets			0
Equity-international | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets			0
Fixed income
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets			4,981
Fixed income | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets			4,981
Fixed income | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets			0
Fixed income | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets			0
Money market
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets			351
Money market | Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets			351
Money market | Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets			0
Money market | Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets			$ 0

BENEFIT PLANS - Estimated Futu

BENEFIT PLANS - Estimated Future Benefit Payments (Details) - Dover Downs Pension Plan $ in Thousands	Jun. 30, 2019USD ($)
Defined Benefit Plan Disclosure [Line Items]
Remaining 2019	$ 522
2020	873
2021	911
2022	964
2023	1,035
Years 2024-2028	$ 5,918

SEGMENT REPORTING (Details)

SEGMENT REPORTING (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)segment	Jun. 30, 2018USD ($)	Dec. 31, 2018USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | segment			5
Total Revenue	$ 143,218	$ 110,815	$ 263,849	$ 215,621
Income (loss) from operations	33,846	31,424	64,153	56,301
Income (loss) before provision for income taxes	23,325	26,356	46,594	45,534
Depreciation and amortization	8,233	5,135	15,002	10,347
Interest expense	9,966	5,106	17,017	10,845
Capital expenditures	11,180	35,938	18,679	78,448
Goodwill	132,746	132,035	132,746	132,035	$ 132,035
Total assets	1,229,464	746,329	1,229,464	746,329	$ 782,352
Rhode Island
Segment Reporting Information [Line Items]
Total Revenue	82,856	75,935	168,980	148,308
Income (loss) from operations	31,552	32,776	62,871	58,310
Income (loss) before provision for income taxes	29,560	30,802	58,567	53,869
Depreciation and amortization	4,546	2,778	8,961	5,641
Interest expense	955	1,975	3,275	4,443
Capital expenditures	6,694	33,634	13,597	51,501
Goodwill	83,101	83,101	83,101	83,101
Total assets	588,224	393,606	588,224	393,606
Delaware
Segment Reporting Information [Line Items]
Total Revenue	25,751		27,275
Income (loss) from operations	1,862		1,862
Income (loss) before provision for income taxes	1,843		1,843
Depreciation and amortization	1,284		1,284
Interest expense	59		59
Capital expenditures	809		809
Goodwill	711		711
Total assets	137,914		137,914
Biloxi
Segment Reporting Information [Line Items]
Total Revenue	32,118	32,016	63,149	62,024
Income (loss) from operations	5,655	5,914	11,069	11,604
Income (loss) before provision for income taxes	5,663	5,914	11,081	11,602
Depreciation and amortization	2,359	2,319	4,666	4,632
Interest expense	0	4	0	8
Capital expenditures	3,565	1,811	4,148	3,080
Goodwill	48,934	48,934	48,934	48,934
Total assets	268,092	246,344	268,092	246,344
Other
Segment Reporting Information [Line Items]
Total Revenue	2,493	2,864	4,445	5,289
Income (loss) from operations	(5,223)	(7,266)	(11,649)	(13,613)
Income (loss) before provision for income taxes	(13,741)	(10,360)	(24,897)	(19,937)
Depreciation and amortization	44	38	91	74
Interest expense	8,952	3,127	13,683	6,394
Capital expenditures	112	493	125	23,867
Goodwill	0	0	0	0
Total assets	$ 235,234	$ 106,379	$ 235,234	$ 106,379

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Earnings Per Share [Abstract]
Net income applicable to common stockholders	$ 17,180	$ 18,995	$ 34,776	$ 30,324
Weighted average shares outstanding, basic (in shares)	41,137,000	36,925,000	39,701,000	36,874,000
Weighted average effect of dilutive securities (in shares)	124,000	1,616,000	121,000	1,698,000
Weighted average shares outstanding, diluted (in shares)	41,261,000	38,541,000	39,822,000	38,572,000
Per share data
Basic (in dollars per share)	$ 0.42	$ 0.51	$ 0.88	$ 0.82
Diluted (in dollars per share)	$ 0.42	$ 0.49	$ 0.87	$ 0.79
Share-based awards considered to be anti-dilutive (in shares)	0	0	0	0

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($) $ / shares in Units, $ in Thousands	Jul. 26, 2019	Jun. 30, 2019	Mar. 31, 2019
Subsequent Event [Line Items]
Stock repurchased (in shares)		0	16,340
Stock repurchased			$ 409
Subsequent Event
Subsequent Event [Line Items]
Stock repurchased (in shares)	2,500,000
Stock repurchased (in usd per share)	$ 29.50
Stock repurchased	$ 75,000