Bally's (BALY) 10-Q 14 May 20 2020 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2020	Apr. 30, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
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		30,432,066
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001747079
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents	$ 361,591	$ 182,581
Restricted cash	0	2,921
Accounts receivable, net	7,455	23,190
Inventory	8,186	7,900
Prepaid expenses and other assets	24,335	28,439
Total current assets	401,567	245,031
Property and equipment, net	546,617	510,436
Right of use assets, net	17,085	17,225
Goodwill, net	133,082	133,082
Intangible assets, net	111,455	110,373
Other assets	5,517	5,740
Total assets	1,215,323	1,021,887
Liabilities and Shareholders’ Equity
Current portion of long-term debt	3,000	3,000
Current portion of lease obligations	1,040	1,014
Accounts payable	9,434	14,921
Accrued liabilities	65,213	70,849
Total current liabilities	78,687	89,784
Lease obligations, net of current portion	16,049	16,214
Pension benefit obligations	8,451	8,688
Deferred tax liability	9,836	13,790
Long-term debt, net of current portion	930,304	680,601
Other long-term liabilities	977	1,399
Total liabilities	1,044,304	810,476
Commitments and contingencies
Shareholders’ equity:
Common stock	306	412
Additional paid-in-capital	139,984	185,544
Treasury stock, at cost	0	(223,075)
Retained earnings	32,617	250,418
Accumulated other comprehensive loss	(1,888)	(1,888)
Total shareholders’ equity	171,019	211,411
Total liabilities and shareholders’ equity	$ 1,215,323	$ 1,021,887

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - $ / shares	Mar. 31, 2020	Dec. 31, 2019
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)	30,594,691	41,193,018
Common stock outstanding (in shares)	30,594,691	32,113,328
Treasury stock (in shares)	0	9,079,690

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenue:
Total revenue	$ 109,148	$ 120,631
Operating costs and expenses:
Advertising, general and administrative	49,609	38,263
Acquisition, integration and restructuring expense	1,786	6,878
Depreciation and amortization	8,979	6,769
Total operating costs and expenses	112,317	90,324
(Loss) income from operations	(3,169)	30,307
Other income (expense):
Interest income	143	13
Interest expense, net of amounts capitalized	(11,516)	(7,051)
Total other expense, net	(11,373)	(7,038)
(Loss) income before provision for income taxes	(14,542)	23,269
(Benefit) provision for income taxes	(5,664)	5,673
Net (loss) income	(8,878)	17,596
Net income applicable to common stockholders	$ (8,878)	$ 17,596
Net income per share, basic (in dollars per share)	$ (0.28)	$ 0.46
Weighted average common shares outstanding, basic (in shares)	31,569	38,248
Net income per share, diluted (in dollars per share)	$ (0.28)	$ 0.46
Weighted average common shares outstanding, diluted (in shares)	31,660	38,367
Goodwill and Intangible Asset Impairment	$ 8,708	$ 0
Insured Event, Gain (Loss)	(883)	0
Gaming
Revenue:
Total revenue	75,836	90,868
Operating costs and expenses:
Cost of net revenue	23,213	21,076
Racing
Revenue:
Total revenue	2,957	2,940
Operating costs and expenses:
Cost of net revenue	2,407	2,191
Hotel
Revenue:
Total revenue	7,646	6,305
Operating costs and expenses:
Cost of net revenue	3,292	2,714
Food and beverage
Revenue:
Total revenue	15,316	13,511
Operating costs and expenses:
Cost of net revenue	13,276	11,107
Other
Revenue:
Total revenue	7,393	7,007
Retail, entertainment and other
Operating costs and expenses:
Cost of net revenue	$ 1,930	$ 1,326

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	AOCI Attributable to Noncontrolling Interest
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	$ 0
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)	0	(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
Bad debt expense	22
Net loss	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	0
Beginning balance (in shares) at Dec. 31, 2019		32,113,328
Beginning balance at Dec. 31, 2019	211,411	$ 412	185,544	(223,075)	250,418	(1,888)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Release of restricted stock (in shares)		131,131
Release of restricted stock	$ (2,483)	$ 1	(2,484)
Common stock cash dividend declared (in dollars per share)	$ 0.10
Dividends	$ (3,174)				(3,174)
Share-based compensation - equity awards	5,542		5,542
Retirement of treasury shares	$ 0	$ (107)	(48,618)	254,416	(205,691)
Share repurchases (in shares)	(1,649,768)	(1,649,768)
Share repurchases	$ (31,341)			(31,341)
Bad debt expense	1,277
Net loss	(8,878)				(8,878)
Ending balance (in shares) at Mar. 31, 2020		30,594,691
Ending balance at Mar. 31, 2020	$ 171,019	$ 306	$ 139,984	$ 0	$ 32,617	$ (1,888)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (unaudited) (Parenthetical)	3 Months Ended
	Mar. 31, 2020$ / shares
Statement of Stockholders' Equity [Abstract]
Common stock cash dividend declared (in dollars per share)	$ 0.10

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities:
Net (loss) income	$ (8,878,000)	$ 17,596,000
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation of property and equipment	7,401,000	5,402,000
Amortization of intangible assets	1,578,000	1,367,000
Amortization of operating lease right of use assets	256,000	482,000
Share-based compensation - equity awards	5,542,000	151,000
Amortization of debt financial costs and discounts on debt	676,000	692,000
Bad debt expense	1,277,000	22,000
Deferred income taxes	(3,954,000)	0
Gain on disposal of property and equipment	0	(2,000)
Changes in operating assets and liabilities:
Accounts receivable	14,400,000	(3,432,000)
Inventory	(146,000)	(278,000)
Prepaid expenses and other assets	4,949,000	5,791,000
Accounts payable	(6,582,000)	4,789,000
Accrued liabilities	(7,915,000)	(7,597,000)
Net cash provided by operating activities	17,312,000	24,983,000
Cash flows from investing activities:
Capital expenditures, excluding Tiverton Casino Hotel and new hotel at Twin River Casino	(2,999,000)	(4,212,000)
Capital expenditures - Tiverton Casino Hotel	0	(1,277,000)
Capital expenditures - new hotel at Twin River Casino	0	(2,010,000)
Net cash used in investing activities	(53,450,000)	(17,105,000)
Cash flows from financing activities:
Revolver borrowings	250,000,000	25,000,000
Term loan repayments	(750,000)	(1,200,000)
Share repurchases	(31,341,000)	(409,000)
Payment of shareholder dividends	(3,199,000)	0
Net cash provided by financing activities	212,227,000	23,391,000
Net change in cash and cash equivalents and restricted cash	176,089,000	31,269,000
Cash and cash equivalents and restricted cash, beginning of period	185,502,000	81,431,000
Cash and cash equivalents and restricted cash, end of period	361,591,000	112,700,000
Supplemental disclosure of cash flow information:
Cash paid for interest	3,743,000	6,286,000
Non-cash investing and financing activities:
Unpaid property and equipment	896,000	5,928,000
Deposit applied to fixed asset purchases	0	981,000
Termination of operating leases via purchase of underlying assets	0	1,272,000
Stock issued for acquisition of Dover Downs Gaming & Entertainment, Inc.	0	86,780,000
Goodwill and Intangible Asset Impairment	8,708,000	0
Payment, Tax Withholding, Share-based Payment Arrangement	2,483,000	0
Income Taxes Paid, Net	(165,000)	0
Dover Downs
Cash flows from investing activities:
Acquisition of Dover Downs Gaming & Entertainment, Inc., net of cash acquired	0	(9,606,000)
Black Hawk Casinos
Cash flows from investing activities:
Acquisition of Dover Downs Gaming & Entertainment, Inc., net of cash acquired	$ (50,451,000)	$ 0

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2020
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, and restaurant and hotel facilities. 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, the Golden Gates, Golden Gulch and Mardi Gras casinos (collectively, “Black Hawk Casinos”) and the Arapahoe Park racetrack and 13 off-track betting licenses (“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 23, 2020, the Company completed its acquisition of the Black Hawk Casinos. 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 (“Isle Kansas City”) and Lady Luck Casino Vicksburg in Vicksburg, Mississippi (“Lady Luck Vicksburg”). On April 24, 2020, the Company announced that it had entered into an agreement with Eldorado Resorts, Inc. to acquire Eldorado Shreveport Resort and Casino in Shreveport, Louisiana and the MontBleu Resort Casino & Spa in Lake Tahoe, Nevada and into an agreement with Caesars Entertainment Corporation and VICI Properties Inc. to acquire Bally's Atlantic City Hotel & Casino in Atlantic City, New Jersey. 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.” COVID-19 Pandemic The novel coronavirus (“COVID-19”) pandemic has caused significant disruption to the US and global economy as well as financial markets around the world and has impacted, and is likely to continue to impact, the Company’s business in a material manner. As of March 16, 2020 all of the Company’s properties were temporarily closed as a result of the COVID-19 pandemic and as of March 17, 2020, all of the properties that the Company has entered into agreements to acquire were also temporarily closed. Each of these facilities remains closed as of the date hereof. As a result, since that date, the Company has effectively been generating no revenue. The length and the severity of the disruption from COVID-19 is unknown at this point as is the timing on when the Company’s properties may be allowed to reopen. Accordingly, the Company’s operations will continue to be negatively impacted by COVID-19 and that impact could be material. 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. 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, 2019. 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, 2019. We have made estimates and judgments affecting the amounts reported in our condensed consolidated financing statements and the accompanying notes. The inputs into our judgments and estimates consider the economic implications of COVID-19 on our critical and significant accounting estimates. The actual results that we experience may differ materially from our estimates. 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 and cash equivalents. As of December 31, 2019, restricted cash of $2.9 million 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. There was no restricted cash as of March 31, 2020. 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. March 31, December 31, (in thousands) 2020 2019 Cash and cash equivalents $ 361,591 $ 182,581 Restricted cash — 2,921 Total cash and cash equivalents and restricted cash $ 361,591 $ 185,502 Treasury Stock

RECENTLY ADOPTED AND ISSUED ACC

RECENTLY ADOPTED AND ISSUED ACCOUNTING PRONOUNCEMENTS	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
RECENTLY ADOPTED AND ISSUED ACCOUNTING PRONOUNCEMENTS	RECENTLY ADOPTED AND ISSUED ACCOUNTING PRONOUNCEMENTS Recently Adopted 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 (“ASC 326”). 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. In November 2018, the FASB issued ASU No. 2018-19, Codification Improvements to Topic 326, Financial Instruments–Credit Losses , to clarify that receivables arising from operating leases are not within the scope of ASC 326 and should instead, be accounted for in accordance with ASC 842, Leases . 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 adopted this ASU in the first quarter of 2020 and recorded a $58 thousand adjustment to retained earnings as of January 1, 2020. 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 adopted this ASU in the first quarter of 2020, with no impact to its consolidated financial statements. Recently Issued Accounting Pronouncements 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, which for the Company will be the first quarter of 2021, with early adoption permitted. The Company does not expect this amendment to have a significant impact on its consolidated financial statements. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740) - Simplifying the Accounting for Income Taxes . This amendment serves to simplify the accounting for income taxes by removing certain exceptions to the general principles in ASC Topic 740, Income Taxes. The amendment also improves the consistent application of ASC Topic 740 by clarifying and amending existing guidance. This amendment is effective for fiscal years, and interim periods within those years, beginning after December 15, 2020, which for the Company will be the first quarter of 2021, with early adoption permitted. The Company is currently in the process of evaluating the impact of this amendment on its consolidated financial statements.

REVENUE RECOGNITION

REVENUE RECOGNITION	3 Months Ended
	Mar. 31, 2020
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 (“ASC 606”). The Company generates revenue from five principal sources: gaming services, hotel, racing, food and beverage and other. Gaming revenue includes the share of VLT revenue for Twin River Casino Hotel and Tiverton Casino Hotel, in each case, as determined by each property’s 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 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 each were entitled to an 83.5% share of table games revenue generated as of March 31, 2020. 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 services on behalf of the State of Rhode Island. Gaming revenue also 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 March 31, 2020, 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 services on behalf of the State of Delaware. Gaming revenue also includes the casino revenue of Hard Rock Biloxi and the Black Hawk Casinos, 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 incentive earned for a hotel room stay, food and beverage or other amenity. 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 months ended March 31, 2020 and 2019: Three Months Ended March 31, (in thousands) 2020 2019 Hotel $ 4,586 $ 3,558 Food and beverage 7,833 5,790 Other 1,774 1,378 $ 14,193 $ 10,726 Racing revenue includes Twin River Casino Hotel’s, Tiverton Casino Hotel’s, 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 March 31, 2020 Gaming $ 43,459 $ 11,871 $ 16,718 $ 3,788 $ 75,836 Racing 503 636 — 1,818 2,957 Hotel 1,227 2,590 3,829 — 7,646 Food and beverage 6,250 4,676 3,824 566 15,316 Other 4,840 1,313 1,111 129 7,393 Total revenue $ 56,279 $ 21,086 $ 25,482 $ 6,301 $ 109,148 Three Months Ended March 31, 2019 Gaming $ 68,839 $ 969 $ 21,060 $ — $ 90,868 Racing 992 27 — 1,921 2,940 Hotel 1,541 144 4,620 — 6,305 Food and beverage 9,092 350 4,069 — 13,511 Other 5,661 35 1,283 28 7,007 Total revenue $ 86,125 $ 1,525 $ 31,032 $ 1,949 $ 120,631 Revenue included in operations from Dover Downs from the date of its acquisition, March 28, 2019, through March 31, 2019 is reported in the “Delaware” segment for the three months ended March 31, 2019. Revenue included in operations from the Black Hawk Casinos from the date of their acquisition, January 23, 2020, through March 31, 2020 is reported in the “Other” segment for the three months ended March 31, 2020. 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 $3.4 million and $16.0 million as of March 31, 2020 and December 31, 2019, 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 $13.2 million and $12.4 million as of March 31, 2020 and December 31, 2019, respectively, and are included as accrued liabilities in the condensed consolidated balance sheets. The Company recognized $2.1 million and $2.3 million of revenue related to loyalty program redemptions for the three months ended March 31, 2020 and 2019, respectively. 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 $1.5 million and $1.4 million as of March 31, 2020 and December 31, 2019, 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-mutuel 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 $0.8 million and $1.1 million as of March 31, 2020 and December 31, 2019, respectively, and are included as accrued liabilities in the condensed consolidated balance sheets.

ACQUISITIONS

ACQUISITIONS	3 Months Ended
	Mar. 31, 2020
Business Combinations [Abstract]
ACQUISITIONS	ACQUISITIONS Black Hawk Casinos On January 23, 2020, the Company acquired a subsidiary of Affinity Gaming (“Affinity”) that owns three casino properties located in Black Hawk, Colorado: Golden Gates, Golden Gulch and Mardi Gras (the “Black Hawk Casinos”). The total consideration paid by the Company in connection with the Black Hawk Casinos acquisition was approximately $53.8 million, or $50.5 million net of cash acquired, excluding transaction costs. The Company incurred $0.6 million and $0.4 million of transaction costs related to this acquisition during the three months ended March 31, 2020 and 2019, respectively. These costs are included in acquisition, integration and restructuring expenses in the condensed consolidated statements of operations and comprehensive income. The Company accounted for the acquisition of the Black Hawk Casinos 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 Black Hawk Casinos’ assets acquired and liabilities assumed based upon their estimated fair values at the acquisition date. The identifiable intangible assets recorded in connection with the closing of the Black Hawk acquisition based on preliminary valuations include trademarks of $2.1 million and rated player relationships of $0.6 million, which are being amortized on a straight-line basis over estimated useful lives of approximately 10 years and 6 years, respectively. The Company also initially recorded an intangible asset related to gaming licenses of $3.3 million, with an indefinite life. However, in connection with the impairment testing discussed in Note 5. “Goodwill and Intangible Assets”, the asset was deemed fully impaired and its value was written down to zero as of March 31, 2020. 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. As of March 31, 2020, the purchase price allocation was preliminary and will be finalized when valuations are complete and final assessments of the fair value of the other acquired assets and assumed liabilities are completed. There can be no assurance that such finalization 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. Revenue included in operations from the Black Hawk Casinos from the date of their acquisition, January 23, 2020, through March 31, 2020 was $4.5 million. 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 Kansas City and 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 (which was received in October 2019) and Missouri, and is expected to close in the second quarter of 2020. The Company recorded acquisition costs related to the pending acquisitions of Isle Kansas City and Lady Luck Vicksburg of $0.4 million during the three months ended March 31, 2020. These costs are included in acquisition, integration and restructuring expense in the condensed consolidated statements of operations and comprehensive income. Subsequent Event

ACCRUED LIABILITIES

ACCRUED LIABILITIES	3 Months Ended
	Mar. 31, 2020
Payables and Accruals [Abstract]
ACCRUED LIABILTIES	ACCRUED LIABILITIES As of March 31, 2020 and December 31, 2019, accrued liabilities consisted of the following: (in thousands) March 31, December 31, Gaming liabilities $ 24,492 $ 23,908 Compensation 10,374 13,849 Legal 1,853 833 Property taxes 1,961 2,920 Purses due to horsemen 2,621 7,868 Interest payable 9,347 2,291 Insurance reserves 3,749 2,477 Other 10,816 16,703 Total accrued liabilities $ 65,213 $ 70,849

ACQUISITION, INTEGRATION AND RE

ACQUISITION, INTEGRATION AND RESTRUCTURING EXPENSE	3 Months Ended
	Mar. 31, 2020
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 months ended March 31, 2020 and 2019: Three Months Ended March 31, (in thousands) 2020 2019 Acquisition and integration costs: Dover Downs merger and going public expenses $ 54 $ 6,440 Black Hawk Casinos 571 438 Isle Kansas City and Lady Luck Vicksburg 438 — Other recently announced and pending acquisitions (1) 703 — Total 1,766 6,878 Restructuring expense 20 — Total acquisition, integration and restructuring expense $ 1,786 $ 6,878 __________________________________ (1) Costs relate to the pending acquisitions of Shreveport, MontBleu and Bally’s Atlantic City. During the three months ended March 31, 2020, the Company incurred restructuring expenses of $20,000 related to severance costs incurred attributable to Dover Downs. The following table summarizes the restructuring liability accrual activity during the three months ended March 31, 2020 related to the Delaware reportable segment. (in thousands) Severance Restructuring liability as of December 31, 2019 $ 23 Additions 20 Payments (43) Restructuring liability as of March 31, 2020 $ — There were no restructuring expenses incurred during the three months ended March 31, 2019.

LONG-TERM DEBT

LONG-TERM DEBT	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT As of March 31, 2020 and December 31, 2019, long-term debt consisted of the following: (in thousands) March 31, December 31, Term Loan principal $ 297,750 $ 298,500 Revolving Credit Facility 250,000 — 6.75% Senior Notes due 2027 400,000 400,000 Less: Unamortized original issue discount (1,945) (2,014) Less: Unamortized deferred financing fees (12,501) (12,885) Long-term debt, including current portion 933,304 683,601 Less: Current portion of Term Loan and Revolving Credit Facility (3,000) (3,000) Long-term debt, net of discount and deferred financing fees, excluding current portion $ 930,304 $ 680,601 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 million Term B Loan facility (the “Term Loan Facility”) and a $250 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. Beginning September 30, 2019, 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. 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 beginning January 1, 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 0.50% 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 March 31, 2020, the interest rate for the Credit Facility was 3.74% and the interest rate on outstanding revolver borrowings was 3.50%. 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 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 March 16, 2020, the Company borrowed under its Revolving Credit Facility the full available amount of $250 million to increase its cash position and liquidity to facilitate financial flexibility in light of current uncertainty in the global markets and the Company’s business resulting from the COVID-19 pandemic. The amount was held in cash as of March 31, 2020. 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 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, as was the case at March 31, 2020, 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 March 31, 2020. 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 the Company’s obligations under 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 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 million to $150 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 Company repaid the Former Revolving Credit Facility and the Former Term Loan during the second quarter of 2019 with a portion of the proceeds from the Term Loan Facility and the Senior Notes. There are no operations at TRWH. Cash held as of March 31, 2020 and December 31, 2019 was $162.8 million and $64.4 million, respectively, an increase driven by proceeds received from the borrowings under the Revolving Credit Facility, as described above. Subsequent Events Financial Covenant Relief - On April 24, 2020, the Company and its lenders amended the financial covenants and certain other terms of the Company’s Credit Facility to provide financial covenant relief from the effects of the COVID-19 pandemic. Until the period ending on the date on which the Company delivers its compliance statement and financial statements for the three months ending March 31, 2021 (the “Leverage Ratio Covenant Relief Period”) (unless the Company elects to terminate the covenant relief period earlier), the Company will not be required to comply with the maximum total net leverage ratio covenant applicable under the Credit Facility, but instead will be required to comply with a minimum liquidity covenant tested at the last day of each month during the Leverage Ratio Covenant Relief Period. Under the minimum liquidity requirement, the Company will be required to have unrestricted cash on hand at the end of each month in the following amounts: (1) $75.0 million at April 30, 2020 and May 31, 2020, (2) $65.0 million at June 30, 2020, (3) $55.0 million at July 31, 2020, and (4) $50.0 million at each month-end thereafter through March 31, 2021. The Company will not be permitted to declare or pay dividends on its common stock or make other restricted payments (including repurchases of shares of its common stock), complete investments or acquisitions (other than those previously announced) during the Leverage Ratio Covenant Relief Period, and the interest rates on the revolving credit facility borrowings are LIBOR + 2.75% during the Leverage Ratio Covenant Relief Period. Additionally, the amendment permanently changed the minimum LIBOR on revolver borrowings from 0.00% to 0.75%.

LEASES

LEASES	3 Months Ended
	Mar. 31, 2020
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 March 31, 2020, 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 is 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 at the Company’s 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 we are 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 is incurred. Certain of the Company’s subsidiaries lease office space, 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 three months ended March 31, 2019, two equipment leases were terminated via purchase of the underlying assets. The Company had operating lease liabilities of approximately $17.1 million and $17.2 million as of March 31, 2020 and December 31, 2019, respectively, and right of use assets of approximately $17.1 million and $17.2 million as of March 31, 2020 and December 31, 2019, respectively, which were included in the condensed consolidated balance sheet. The following summarizes quantitative information about the Company’s operating leases: Three Months Ended March 31, (in thousands) 2020 2019 Operating leases: Operating lease cost $ 549 $ 797 Variable lease cost 12 29 Operating lease expense 561 826 Short-term lease expense 434 433 Total lease expense $ 995 $ 1,259 Supplemental cash flow and other information for the three months ended March 31, 2020, related to operating leases was as follows: Three Months Ended March 31, (In thousands) 2020 2019 Cash paid for amounts included in the lease liability - operating cash flows from operating leases $ 548 $ 809 Right of use assets obtained in exchange for operating lease liabilities $ 116 $ 18,350 March 31, 2020 December 31, 2019 Weighted average remaining lease term 16.3 16.7 Weighted average discount rate 6.7 % 6.8 % As of March 31, 2020, future minimum rental commitments under noncancelable operating leases are as follows: (in thousands) March 31, 2020 Remaining 2020 $ 1,633 2021 2,157 2022 1,874 2023 1,830 2024 1,780 Thereafter 19,506 Total 28,780 Less: present value discount (11,691) Operating lease obligations $ 17,089

EQUITY PLANS

EQUITY PLANS	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
EQUITY PLANS	EQUITY PLANS The Company has two equity incentive plans: the 2010 BLB Worldwide Holdings, Inc. Stock Option Plan (the “2010 Option Plan”) and the 2015 Stock Incentive Plan (“2015 Incentive Plan”). The 2010 Option Plan provided for options to acquire 2,455,368 shares of the Company’s common stock. Options granted to employees, officers and directors of the Company under the 2010 Option Plan vested on various schedules by individual as defined in the individual participants’ option agreements. Vested options can generally be exercised all or in part at any time until the tenth anniversary of the date of grant. Effective December 9, 2015, it was determined that no new awards would be granted under the 2010 Option Plan. The 2015 Incentive Plan provides for the grant of stock options, RSAs, RSUs and other stock-based awards (including those with performance-based vesting criteria) to employees, directors or consultants of the Company. The 2015 Incentive Plan provides for the issuance of up to 1,700,000 shares of the Company’s common stock. During the first quarter of 2020, the Company issued 483,860 RSUs under the 2015 Incentive Plan to eligible employees and executive management as part of its annual equity grant process. These RSUs vest ratably in three annual installments, the first of which vested during the first quarter of 2020. As of March 31, 2020, 738,602 shares were available for grant under the 2015 Incentive Plan. The Company recognized total share-based compensation expense of $5.5 million and $0.2 million during the three months ended March 31, 2020 and 2019, respectively. The total income tax benefit for share-based compensation arrangements was $2.1 million and $37,000 for the three months ended March 31, 2020 and 2019, respectively.

BENEFIT PLANS

BENEFIT PLANS	3 Months Ended
	Mar. 31, 2020
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 a defined benefit pension plan with the acquisition of Dover Downs on March 28, 2019 (“Dover Downs Pension Plan”) which is a non-contributory, tax qualified defined benefit pension plan that has been frozen since July 2011. Dover Downs Defined Benefit Pension Plan 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 months ended March 31, 2020. (in thousands) Three Months Ended March 31, 2020 Service cost $ — Interest cost 223 Expected return on plan assets (357) Net periodic benefit (income) cost $ (134) Contributions Minimum pension contributions of $0.5 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 2020. Under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), minimum required contributions for single-employer pension plans, including quarterly contributions, that are otherwise due during calendar year 2020 are instead due January 1, 2021. The CARES Act requires that any delayed contributions be increased by interest accrued between the original due date and the date of delayed payment. Prior to this action, the Company expected to contribute approximately $0.8 million to the Dover Downs Pension Plan in 2020. However, during the first quarter of 2020, the Company elected to not make a contribution to the Dover Downs Pension Plan. 401(k) Plans

SHAREHOLDERS_ EQUITY

SHAREHOLDERS’ EQUITY	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
SHAREHOLDERS’ EQUITY	SHAREHOLDERS’ EQUITY 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. 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 share repurchase program and payment of dividends. Share repurchases may be effected in various ways, which could include open-market or private repurchase transactions, accelerated stock repurchase programs, tender offers or other transactions. The amount, timing and terms of any return of capital transaction will be determined based on prevailing market conditions and other factors. The Company expects to fund any share repurchases and dividends from existing capital resources. There is no fixed time period to complete share repurchases. On July 26, 2019, the Company completed a modified Dutch auction tender offer (“Offer”), purchasing 2,504,971 common shares at an aggregate purchase price of $73.9 million. The Offer was funded with cash on hand. On February 10, 2020, the Board of Directors approved an increase in the capital return program of $100 million. Total share repurchase activity, including a private repurchase transaction, during the three months ended March 31, 2020 was as follows: (in thousands, except share data) Three Months Ended March 31, 2020 Number of common shares repurchased 1,649,768 Total cost $ 31,341 Average cost per share, including commissions $ 19.00 There was no share repurchase activity during the three months ended March 31, 2019. The Company retired 10,729,458 and 1,431,980 shares of its common stock held in treasury during the three months ended March 31, 2020 and 2019, respectively. The shares were returned to the status of authorized but unissued shares. As of March 31, 2020 there were no shares remaining in treasury.

SEGMENT REPORTING

SEGMENT REPORTING	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTING As of March 31, 2020, the Company has six operating segments, Twin River Casino Hotel, Hard Rock Biloxi, Tiverton Casino Hotel, Dover Downs, the Black Hawk Casinos and Mile High USA, which have been aggregated into three reportable segments. The Company’s Rhode Island reportable segment includes Twin River Casino Hotel and Tiverton Casino Hotel. The Company’s Biloxi reportable segment includes only Hard Rock Biloxi. The Company’s Delaware reportable segment includes only Dover Downs. The Company is still evaluating whether the Black Hawk Casinos will be aggregated into one of the Company’s existing reportable segments or represent its own reportable segment. As of March 31, 2020, and reflected in the table below, the “Other” category includes the Black Hawk Casinos and 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 March 31, 2020 Total revenue $ 56,279 $ 21,086 $ 25,482 $ 6,301 $ 109,148 Income (loss) from operations 11,005 324 1,777 (16,275) (3,169) Income (loss) before provision for income taxes 11,041 283 1,786 (27,652) (14,542) Depreciation and amortization 4,782 1,454 2,263 480 8,979 Interest expense — 41 — 11,475 11,516 Capital expenditures 1,139 765 714 381 2,999 Goodwill 83,101 1,047 48,934 — 133,082 Total assets 504,597 128,912 251,228 330,586 1,215,323 Three Months Ended March 31, 2019 Total revenue $ 86,125 $ 1,525 $ 31,032 $ 1,949 $ 120,631 Income (loss) from operations 31,319 — 5,414 (6,426) 30,307 Income (loss) before provision for income taxes 29,007 — 5,418 (11,156) 23,269 Depreciation and amortization 4,415 — 2,307 47 6,769 Interest expense 2,319 — — 4,732 7,051 Capital expenditures 6,902 — 582 15 7,499 Goodwill 83,101 — 48,934 — 132,035 Total assets 550,274 140,407 261,645 (1,250) 951,076

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS (LOSS) PER SHARE Basic earnings (loss) per common share (“EPS”) is calculated by dividing net income (loss) per common share 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 March 31, (in thousands, except per share data) 2020 2019 Net income (loss) $ (8,878) $ 17,596 Weighted average common shares outstanding, basic 31,569 38,248 Weighted average effect of dilutive securities 91 119 Weighted average common shares outstanding, diluted 31,660 38,367 Per share data Basic (loss) net income $ (0.28) $ 0.46 Diluted (loss) net income $ (0.28) $ 0.46

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On April 24, 2020, the Company announced that it had entered into an agreement to purchase three casinos; Shreveport, MontBleu and Bally's Atlantic City. Refer to Note 4. “Acquisitions” for more information. On April 24, 2020, the Company and its lenders amended the financial covenants and certain other terms of the Company’s Credit Facility to provide financial covenant relief from the effects of the COVID-19 pandemic. Additionally, on May 11, 2020, the Company increased its Term Loan Facility by an additional $275 million and repaid all outstanding borrowings under its revolving credit facility portion of its Credit Facility. Refer to Note 8. “Long-Term Debt” for more information.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	3 Months Ended
	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	GOODWILL AND INTANGIBLE ASSETS The Company performs its annual goodwill impairment test as of the first day of the fourth quarter of each year at the reporting unit level, which is at or one level below the operating segment level. Intangible assets not subject to amortization are reviewed for impairment annually. In addition to the annual impairment test, the Company is required to regularly assess whether a triggering event has occurred which would require interim impairment testing. Late in the first quarter of 2020, as a result of the current and expected future economic and market conditions surrounding the COVID-19 pandemic and the decline in its stock price and market capitalization the Company experienced, the Company determined that it was more likely than not that the carrying value of all of its reporting units exceeded these units’ fair value and performed an interim quantitative impairment test of goodwill. The Company estimated the fair values of all reporting units using both the market approach, applying a multiple of earnings based on guidelines for publicly traded companies, and the income approach, discounting projected future cash flows based on management’s expectations of the current and future operating environment for each reporting unit. The calculation of the impairment charge includes substantial fact-based determinations and estimates including weighted average cost of capital, future revenue, profitability, cash flows and fair values of assets and liabilities. The rates used to discount projected future cash flows under the income approach reflect a weighted average cost of capital in the range of 10% to 15%, which considered guidelines for publicly traded companies, capital structure and risk premiums, including those reflected in the current market capitalization. The Company corroborated the reasonableness of the estimated reporting unit fair values by reconciling to its enterprise value and market capitalization. Based on this analysis, the Company determined that only the carrying value of its Black Hawk Casinos reporting unit exceeded its fair value by an amount that exceeded the assigned goodwill and indefinite lived intangibles as of the acquisition date. As a result, the Company recorded a total impairment charge of $8.7 million, which as of March 31, 2020 is included in our “Other” reportable segment, and was allocated between goodwill and intangible assets with charges of $5.4 million and $3.3 million, respectively. The goodwill impairment charge reflects all of the Black Hawk Casinos reporting unit goodwill, based on the preliminary acquisition date assigned fair values. The goodwill impairment charge recorded in the quarter ended March 31, 2020 is subject to change based upon the final purchase price allocation during the measurement period for estimated fair values of assets acquired and liabilities assumed from the Black Hawk Casinos acquisition. There can be no assurance that such final assessments will not result in material increases or decreases to the recorded goodwill and intangible impairment charge based upon the preliminary purchase price allocations, due to changes in the provisional opening balance sheet estimates of goodwill. The Company’s estimates and assumptions are subject to change during the measurement period (up to one year from the acquisition date). Refer to Note 4. “Acquisitions” for further information about the preliminary purchase price allocation and provisional goodwill and intangible balance estimated as of the acquisition date. The change in carrying value of goodwill by reportable segment for the three months ended March 31, 2020 is as follows: (in thousands) Rhode Island Delaware Biloxi Other Total Goodwill as of December 31, 2019 $ 83,101 $ 1,047 $ 48,934 $ — $ 133,082 Goodwill from current year business acquisitions — — — 5,408 5,408 Impairment charges — — — (5,408) (5,408) Goodwill as of March 31, 2020 $ 83,101 $ 1,047 $ 48,934 $ — $ 133,082

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2020
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. 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, 2019. 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, 2019.
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 and cash equivalents.
Treasury Stock	Treasury StockThe Company records the repurchase of shares of common stock at cost based on the settlement date of the transaction. Upon settlement, 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.
Recently Adopted and Issued Accounting Pronouncements	Recently Adopted 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 (“ASC 326”). 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. In November 2018, the FASB issued ASU No. 2018-19, Codification Improvements to Topic 326, Financial Instruments–Credit Losses , to clarify that receivables arising from operating leases are not within the scope of ASC 326 and should instead, be accounted for in accordance with ASC 842, Leases . 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 adopted this ASU in the first quarter of 2020 and recorded a $58 thousand adjustment to retained earnings as of January 1, 2020. 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 adopted this ASU in the first quarter of 2020, with no impact to its consolidated financial statements. Recently Issued Accounting Pronouncements 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, which for the Company will be the first quarter of 2021, with early adoption permitted. The Company does not expect this amendment to have a significant impact on its consolidated financial statements. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740) - Simplifying the Accounting for Income Taxes . This amendment serves to simplify the accounting for income taxes by removing certain exceptions to the general principles in ASC Topic 740, Income Taxes. The amendment also improves the consistent application of ASC Topic 740 by clarifying and amending existing guidance. This amendment is effective for fiscal years, and interim periods within those years, beginning after December 15, 2020, which for the Company will be the first quarter of 2021, with early adoption permitted. The Company is currently in the process of evaluating the impact of this amendment on its consolidated financial statements.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Policies)	3 Months Ended
	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets, Policy	The Company performs its annual goodwill impairment test as of the first day of the fourth quarter of each year at the reporting unit level, which is at or one level below the operating segment level. Intangible assets not subject to amortization are reviewed for impairment annually. In addition to the annual impairment test, the Company is required to regularly assess whether a triggering event has occurred which would require interim impairment testing. Late in the first quarter of 2020, as a result of the current and expected future economic and market conditions surrounding the COVID-19 pandemic and the decline in its stock price and market capitalization the Company experienced, the Company determined that it was more likely than not that the carrying value of all of its reporting units exceeded these units’ fair value and performed an interim quantitative impairment test of goodwill.

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Mar. 31, 2020
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. March 31, December 31, (in thousands) 2020 2019 Cash and cash equivalents $ 361,591 $ 182,581 Restricted cash — 2,921 Total cash and cash equivalents and restricted cash $ 361,591 $ 185,502
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. March 31, December 31, (in thousands) 2020 2019 Cash and cash equivalents $ 361,591 $ 182,581 Restricted cash — 2,921 Total cash and cash equivalents and restricted cash $ 361,591 $ 185,502

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	3 Months Ended
	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Net Revenue	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 months ended March 31, 2020 and 2019: Three Months Ended March 31, (in thousands) 2020 2019 Hotel $ 4,586 $ 3,558 Food and beverage 7,833 5,790 Other 1,774 1,378 $ 14,193 $ 10,726 The following tables provide a disaggregation of revenue by segment: (in thousands) Rhode Island Delaware Biloxi Other Total Three Months Ended March 31, 2020 Gaming $ 43,459 $ 11,871 $ 16,718 $ 3,788 $ 75,836 Racing 503 636 — 1,818 2,957 Hotel 1,227 2,590 3,829 — 7,646 Food and beverage 6,250 4,676 3,824 566 15,316 Other 4,840 1,313 1,111 129 7,393 Total revenue $ 56,279 $ 21,086 $ 25,482 $ 6,301 $ 109,148 Three Months Ended March 31, 2019 Gaming $ 68,839 $ 969 $ 21,060 $ — $ 90,868 Racing 992 27 — 1,921 2,940 Hotel 1,541 144 4,620 — 6,305 Food and beverage 9,092 350 4,069 — 13,511 Other 5,661 35 1,283 28 7,007 Total revenue $ 86,125 $ 1,525 $ 31,032 $ 1,949 $ 120,631

ACCRUED LIABILITIES (Tables)

ACCRUED LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2020
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	March 31, 2020 and December 31, 2019, accrued liabilities consisted of the following: (in thousands) March 31, December 31, Gaming liabilities $ 24,492 $ 23,908 Compensation 10,374 13,849 Legal 1,853 833 Property taxes 1,961 2,920 Purses due to horsemen 2,621 7,868 Interest payable 9,347 2,291 Insurance reserves 3,749 2,477 Other 10,816 16,703 Total accrued liabilities $ 65,213 $ 70,849

ACQUISITION, INTEGRATION AND _2

ACQUISITION, INTEGRATION AND RESTRUCTURING EXPENSE (Tables)	3 Months Ended
	Mar. 31, 2020
Restructuring and Related Activities [Abstract]
Restructuring Charges	The following table reflects acquisition, integration and restructuring expenses the Company recorded during the three months ended March 31, 2020 and 2019: Three Months Ended March 31, (in thousands) 2020 2019 Acquisition and integration costs: Dover Downs merger and going public expenses $ 54 $ 6,440 Black Hawk Casinos 571 438 Isle Kansas City and Lady Luck Vicksburg 438 — Other recently announced and pending acquisitions (1) 703 — Total 1,766 6,878 Restructuring expense 20 — Total acquisition, integration and restructuring expense $ 1,786 $ 6,878
Restructuring Reserve	The following table summarizes the restructuring liability accrual activity during the three months ended March 31, 2020 related to the Delaware reportable segment. (in thousands) Severance Restructuring liability as of December 31, 2019 $ 23 Additions 20 Payments (43) Restructuring liability as of March 31, 2020 $ —

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Schedule of Long-term Debt	As of March 31, 2020 and December 31, 2019, long-term debt consisted of the following: (in thousands) March 31, December 31, Term Loan principal $ 297,750 $ 298,500 Revolving Credit Facility 250,000 — 6.75% Senior Notes due 2027 400,000 400,000 Less: Unamortized original issue discount (1,945) (2,014) Less: Unamortized deferred financing fees (12,501) (12,885) Long-term debt, including current portion 933,304 683,601 Less: Current portion of Term Loan and Revolving Credit Facility (3,000) (3,000) Long-term debt, net of discount and deferred financing fees, excluding current portion $ 930,304 $ 680,601

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Schedule of Quantitative Information of Operating Leases	The following summarizes quantitative information about the Company’s operating leases: Three Months Ended March 31, (in thousands) 2020 2019 Operating leases: Operating lease cost $ 549 $ 797 Variable lease cost 12 29 Operating lease expense 561 826 Short-term lease expense 434 433 Total lease expense $ 995 $ 1,259 Supplemental cash flow and other information for the three months ended March 31, 2020, related to operating leases was as follows: Three Months Ended March 31, (In thousands) 2020 2019 Cash paid for amounts included in the lease liability - operating cash flows from operating leases $ 548 $ 809 Right of use assets obtained in exchange for operating lease liabilities $ 116 $ 18,350
Supplemental Balance Sheet Information	March 31, 2020 December 31, 2019 Weighted average remaining lease term 16.3 16.7 Weighted average discount rate 6.7 % 6.8 %
Schedule of Future Minimum Rental Commitments	As of March 31, 2020, future minimum rental commitments under noncancelable operating leases are as follows: (in thousands) March 31, 2020 Remaining 2020 $ 1,633 2021 2,157 2022 1,874 2023 1,830 2024 1,780 Thereafter 19,506 Total 28,780 Less: present value discount (11,691) Operating lease obligations $ 17,089

BENEFIT PLANS (Tables)

BENEFIT PLANS (Tables)	3 Months Ended
	Mar. 31, 2020
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 months ended March 31, 2020. (in thousands) Three Months Ended March 31, 2020 Service cost $ — Interest cost 223 Expected return on plan assets (357) Net periodic benefit (income) cost $ (134)

SHAREHOLDERS_ EQUITY (Tables)

SHAREHOLDERS’ EQUITY (Tables)	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Schedule of Share Repurchase Activity	Total share repurchase activity, including a private repurchase transaction, during the three months ended March 31, 2020 was as follows: (in thousands, except share data) Three Months Ended March 31, 2020 Number of common shares repurchased 1,649,768 Total cost $ 31,341 Average cost per share, including commissions $ 19.00

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	3 Months Ended
	Mar. 31, 2020
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 March 31, 2020 Total revenue $ 56,279 $ 21,086 $ 25,482 $ 6,301 $ 109,148 Income (loss) from operations 11,005 324 1,777 (16,275) (3,169) Income (loss) before provision for income taxes 11,041 283 1,786 (27,652) (14,542) Depreciation and amortization 4,782 1,454 2,263 480 8,979 Interest expense — 41 — 11,475 11,516 Capital expenditures 1,139 765 714 381 2,999 Goodwill 83,101 1,047 48,934 — 133,082 Total assets 504,597 128,912 251,228 330,586 1,215,323 Three Months Ended March 31, 2019 Total revenue $ 86,125 $ 1,525 $ 31,032 $ 1,949 $ 120,631 Income (loss) from operations 31,319 — 5,414 (6,426) 30,307 Income (loss) before provision for income taxes 29,007 — 5,418 (11,156) 23,269 Depreciation and amortization 4,415 — 2,307 47 6,769 Interest expense 2,319 — — 4,732 7,051 Capital expenditures 6,902 — 582 15 7,499 Goodwill 83,101 — 48,934 — 132,035 Total assets 550,274 140,407 261,645 (1,250) 951,076

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2020
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 March 31, (in thousands, except per share data) 2020 2019 Net income (loss) $ (8,878) $ 17,596 Weighted average common shares outstanding, basic 31,569 38,248 Weighted average effect of dilutive securities 91 119 Weighted average common shares outstanding, diluted 31,660 38,367 Per share data Basic (loss) net income $ (0.28) $ 0.46 Diluted (loss) net income $ (0.28) $ 0.46

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS (Tables)	3 Months Ended
	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The change in carrying value of goodwill by reportable segment for the three months ended March 31, 2020 is as follows: (in thousands) Rhode Island Delaware Biloxi Other Total Goodwill as of December 31, 2019 $ 83,101 $ 1,047 $ 48,934 $ — $ 133,082 Goodwill from current year business acquisitions — — — 5,408 5,408 Impairment charges — — — (5,408) (5,408) Goodwill as of March 31, 2020 $ 83,101 $ 1,047 $ 48,934 $ — $ 133,082

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Class of Stock [Line Items]
Restricted cash	$ 0		$ 2,921
Reduction in share based compensation expense	(5,500)	$ (200)
Increase in net income	$ (8,878)	$ 17,596
Treasury shares retired (in shares)	10,729,458	1,431,980

SIGNIFICANT ACCOUNTING POLICI_5

SIGNIFICANT ACCOUNTING POLICIES - Schedule of Cash and Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Cash and cash equivalents	$ 361,591	$ 182,581
Restricted cash	0	2,921
Total cash and cash equivalents and restricted cash	$ 361,591	$ 185,502	$ 112,700	$ 81,431

RECENTLY ADOPTED AND ISSUED A_2

RECENTLY ADOPTED AND ISSUED ACCOUNTING PRONOUNCEMENTS (Details)	Jan. 01, 2020USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets	$ (58,000)
Accounting Standards Update 2016-13 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets	$ (58,000)

REVENUE RECOGNITION - Additiona

REVENUE RECOGNITION - Additional Information (Details) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)terminal	Mar. 31, 2019USD ($)	Dec. 31, 2019USD ($)
Disaggregation of Revenue [Line Items]
Contracts with customers receivables	$ 3.4		$ 16
Loyalty Programs
Disaggregation of Revenue [Line Items]
Contract liabilities	13.2		12.4
Contract liabilities, revenue recognized	2.1	$ 2.3
Customer Deposits
Disaggregation of Revenue [Line Items]
Contract liabilities	1.5		1.4
Unpaid Tickets
Disaggregation of Revenue [Line Items]
Contract liabilities	$ 0.8		$ 1.1
Rhode Island | VLT Revenue
Disaggregation of Revenue [Line Items]
Number of video lottery terminals (VLTs) | terminal	3,002
Rhode Island | Table Games Revenue
Disaggregation of Revenue [Line Items]
Percentage of share of revenues	83.50%
Rhode Island | Threshold One | VLT Revenue
Disaggregation of Revenue [Line Items]
Percentage of share of revenues	28.85%
Rhode Island | Threshold Two | VLT Revenue
Disaggregation of Revenue [Line Items]
Percentage of share of revenues	26.00%
Delaware | VLT Revenue
Disaggregation of Revenue [Line Items]
Percentage of share of revenues	42.00%
Delaware | Table Games Revenue
Disaggregation of Revenue [Line Items]
Percentage of share of revenues	80.00%

REVENUE RECOGNITION - Loyalty P

REVENUE RECOGNITION - Loyalty Programs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Hotel
Disaggregation of Revenue [Line Items]
Goods and services provided without charge	$ 4,586	$ 3,558
Food and beverage
Disaggregation of Revenue [Line Items]
Goods and services provided without charge	7,833	5,790
Other
Disaggregation of Revenue [Line Items]
Goods and services provided without charge	1,774	1,378
Loyalty Programs
Disaggregation of Revenue [Line Items]
Goods and services provided without charge	$ 14,193	$ 10,726

REVENUE RECOGNITION - Disaggreg

REVENUE RECOGNITION - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Disaggregation of Revenue [Line Items]
Total revenue	$ 109,148	$ 120,631
Gaming
Disaggregation of Revenue [Line Items]
Total revenue	75,836	90,868
Racing
Disaggregation of Revenue [Line Items]
Total revenue	2,957	2,940
Hotel
Disaggregation of Revenue [Line Items]
Total revenue	7,646	6,305
Food and beverage
Disaggregation of Revenue [Line Items]
Total revenue	15,316	13,511
Other
Disaggregation of Revenue [Line Items]
Total revenue	7,393	7,007
Rhode Island
Disaggregation of Revenue [Line Items]
Total revenue	56,279	86,125
Rhode Island | Gaming
Disaggregation of Revenue [Line Items]
Total revenue	43,459	68,839
Rhode Island | Racing
Disaggregation of Revenue [Line Items]
Total revenue	503	992
Rhode Island | Hotel
Disaggregation of Revenue [Line Items]
Total revenue	1,227	1,541
Rhode Island | Food and beverage
Disaggregation of Revenue [Line Items]
Total revenue	6,250	9,092
Rhode Island | Other
Disaggregation of Revenue [Line Items]
Total revenue	4,840	5,661
Delaware
Disaggregation of Revenue [Line Items]
Total revenue	21,086	1,525
Delaware | Gaming
Disaggregation of Revenue [Line Items]
Total revenue	11,871	969
Delaware | Racing
Disaggregation of Revenue [Line Items]
Total revenue	636	27
Delaware | Hotel
Disaggregation of Revenue [Line Items]
Total revenue	2,590	144
Delaware | Food and beverage
Disaggregation of Revenue [Line Items]
Total revenue	4,676	350
Delaware | Other
Disaggregation of Revenue [Line Items]
Total revenue	1,313	35
Biloxi
Disaggregation of Revenue [Line Items]
Total revenue	25,482	31,032
Biloxi | Gaming
Disaggregation of Revenue [Line Items]
Total revenue	16,718	21,060
Biloxi | Racing
Disaggregation of Revenue [Line Items]
Total revenue	0	0
Biloxi | Hotel
Disaggregation of Revenue [Line Items]
Total revenue	3,829	4,620
Biloxi | Food and beverage
Disaggregation of Revenue [Line Items]
Total revenue	3,824	4,069
Biloxi | Other
Disaggregation of Revenue [Line Items]
Total revenue	1,111	1,283
Other
Disaggregation of Revenue [Line Items]
Total revenue	6,301	1,949
Other | Gaming
Disaggregation of Revenue [Line Items]
Total revenue	3,788	0
Other | Racing
Disaggregation of Revenue [Line Items]
Total revenue	1,818	1,921
Other | Hotel
Disaggregation of Revenue [Line Items]
Total revenue	0	0
Other | Food and beverage
Disaggregation of Revenue [Line Items]
Total revenue	566	0
Other | Other
Disaggregation of Revenue [Line Items]
Total revenue	$ 129	$ 28

ACQUISITIONS (Details)

ACQUISITIONS (Details) $ in Thousands	Apr. 24, 2020USD ($)	Jul. 10, 2019USD ($)	Jan. 23, 2019USD ($)casino	Mar. 31, 2020USD ($)shares	Mar. 31, 2019USD ($)shares
Business Acquisition [Line Items]
Transaction costs				$ 1,766	$ 6,878
Number of common shares repurchased | shares				1,649,768	0
Black Hawk Casinos
Business Acquisition [Line Items]
Number of businesses acquired | casino			3
Total consideration paid				$ 53,800
Total consideration paid, net of cash acquired				50,451	$ 0
Transaction costs				600	400
Net revenue from date of acquisition				4,500
Black Hawk Casinos | License
Business Acquisition [Line Items]
Identifiable intangible assets			$ 3,300	0
Black Hawk Casinos | Trademarks
Business Acquisition [Line Items]
Identifiable intangible assets			$ 2,100
Acquired intangible assets, useful life			10 years
Black Hawk Casinos | Rated Player Relationships
Business Acquisition [Line Items]
Identifiable intangible assets			$ 600
Acquired intangible assets, useful life			6 years
Isle Kansas City and Lady Luck Vicksburg
Business Acquisition [Line Items]
Total consideration paid		$ 230,000
Transaction costs				438	0
Shreveport & MontBleu Properties [Member] | Subsequent Event
Business Acquisition [Line Items]
Total consideration paid	$ 155,000
Bally's Atlantic City [Member] | Subsequent Event
Business Acquisition [Line Items]
Total consideration paid	$ 25,000
Bally's, Shreveport & Montbleu
Business Acquisition [Line Items]
Transaction costs				$ 703	$ 0

ACCRUED LIABILITIES (Details)

ACCRUED LIABILITIES (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Payables and Accruals [Abstract]
Gaming liabilities	$ 24,492	$ 23,908
Compensation	10,374	13,849
Legal	1,853	833
Property taxes	1,961	2,920
Purses due to horsemen	2,621	7,868
Interest payable	9,347	2,291
Other	10,816	16,703
Total accrued liabilities	65,213	70,849
Accrued Insurance, Current	$ 3,749	$ 2,477

ACQUISITION, INTEGRATION AND _3

ACQUISITION, INTEGRATION AND RESTRUCTURING EXPENSE (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Restructuring Cost and Reserve [Line Items]
Acquisition costs	$ 1,766,000		$ 6,878,000
Restructuring expense	20,000	$ 20,000	0
Total acquisition, integration and restructuring expense	1,786,000		6,878,000
Delaware Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring expense	20,000
Restructuring Reserve	0	$ 23,000
Payments for Restructuring	43,000
Dover Downs merger and going public expenses
Restructuring Cost and Reserve [Line Items]
Acquisition costs	54,000		6,440,000
Black Hawk Casinos
Restructuring Cost and Reserve [Line Items]
Acquisition costs	600,000		400,000
Isle Kansas City and Lady Luck Vicksburg
Restructuring Cost and Reserve [Line Items]
Acquisition costs	438,000		0
Black Hawk, CO Properties
Restructuring Cost and Reserve [Line Items]
Acquisition costs	571,000		438,000
Bally's, Shreveport & Montbleu
Restructuring Cost and Reserve [Line Items]
Acquisition costs	$ 703,000		$ 0

LONG-TERM DEBT - Schedule of Lo

LONG-TERM DEBT - Schedule of Long Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	May 10, 2019
Debt Instrument [Line Items]
Less: Unamortized original issue discount	$ (1,945)	$ (2,014)
Less: Unamortized deferred financing fees	(12,501)	(12,885)
Long-term debt, including current portion	933,304	683,601
Less: Current portion of Term Loan and Revolving Credit Facility	(3,000)	(3,000)
Long-term debt, net of discount and deferred financing fees, excluding current portion	930,304	680,601
Line of Credit | Term Loan principal
Debt Instrument [Line Items]
Long-term debt, gross	297,750	298,500
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt, gross	250,000	0
6.75% Senior Notes due 2027
Debt Instrument [Line Items]
Long-term debt, gross	$ 400,000	$ 400,000
6.75% Senior Notes due 2027 | 6.75% Senior Notes due 2027
Debt Instrument [Line Items]
Interest rate	6.75%		6.75%

LONG-TERM DEBT - Additional Inf

LONG-TERM DEBT - Additional Information (Details) - USD ($)	May 11, 2020	Apr. 24, 2020	Apr. 23, 2020	May 10, 2019	Jul. 10, 2014	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Mar. 26, 2019	Mar. 25, 2019
6.75% Senior Notes due 2027 | 6.75% Senior Notes due 2027
Debt Instrument [Line Items]
Interest rate				6.75%		6.75%
Principal amount				$ 400,000,000
Maximum capacity on line of credit				30.00%
Maximum leverage ratio				5.50
Redemption price percentage						100.00%
Amount of original principal amount redeemable						40.00%
Amount of notes redeemable plus accrued and unpaid interest						106.75%
Line of Credit | Senior Secured Credit Facility
Debt Instrument [Line Items]
Interest rate						3.74%
Commitment increase limit				$ 195,000,000
Commitment increase limit, EBITDA				100.00%
Line of Credit | Senior Secured Credit Facility | Subsequent Event
Debt Instrument [Line Items]
Minimum unrestricted cash at April 30, 2020		$ 75,000,000
Minimum unrestricted cash at June 30, 2020		65,000,000
Minimum unrestricted cash at July 31, 2020		55,000,000
Minimum unrestricted cash at March 31, 2021		$ 50,000,000
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 | 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 | Credit Facility
Debt Instrument [Line Items]
Cash held						$ 162,800,000	$ 64,400,000
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 | Senior Secured Credit Facility | Subsequent Event
Debt Instrument [Line Items]
Change in loan facility	$ 275,000,000
Term Loan | Line of Credit | Senior Secured Credit Facility | LIBOR | Subsequent Event
Debt Instrument [Line Items]
Basis spread on variable rate	8.00%
Floor on variable rate	1.00%
Term Loan | Line of Credit | Credit Facility
Debt Instrument [Line Items]
Quarterly principal payment amounts					$ 1,200,000
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%
Interest rate						3.50%
Outstanding balance						$ 250,000,000
Repayments of debt	$ 250,000,000
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 | Senior Secured Credit Facility | LIBOR | Subsequent Event
Debt Instrument [Line Items]
Basis spread on variable rate		2.75%
Floor on variable rate		0.75%	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
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%

LEASES - Additional Information

LEASES - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)arenewal_termparcel	Mar. 31, 2019lease	Dec. 31, 2019USD ($)
Lessee, Lease, Description [Line Items]
Number of renewal terms | renewal_term	1
Lease liability	$ 17,089		$ 17,200
Right of use assets, net	$ 17,085		$ 17,225
Weighted average remaining lease term	16 years 3 months 18 days		16 years 8 months 12 days
Weighted average discount rate	6.70%		6.80%
Equipment
Lessee, Lease, Description [Line Items]
Number of leases terminated | lease		2
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 Informati

LEASES - Quantitative Information of Operating Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Lease, Cost [Abstract]
Operating lease cost	$ 549	$ 797
Variable lease cost	12	29
Operating lease expense	561	826
Short-term lease expense	434	433
Total lease expense	995	1,259
Cash paid for amounts included in the lease liability - operating cash flows from operating leases	548	809
Right of use assets obtained in exchange for operating lease liabilities	$ 116	$ 18,350

LEASES - Supplemental Balance S

LEASES - Supplemental Balance Sheet Information (Details)	Mar. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Weighted average remaining lease term	16 years 3 months 18 days	16 years 8 months 12 days
Weighted average discount rate	6.70%	6.80%

LEASES - Future Minimum Rental

LEASES - Future Minimum Rental Commitments (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Leases [Abstract]
2020	$ 1,633
2021	2,157
2022	1,874
2023	1,830
2024	1,780
Thereafter	19,506
Total	28,780
Less: present value discount	(11,691)
Operating lease obligations	$ 17,089	$ 17,200

EQUITY PLANS (Details)

EQUITY PLANS (Details)	3 Months Ended
	Mar. 31, 2020USD ($)planshares	Mar. 31, 2019USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of incentive plans | plan	2
Share based compensation expense | $	$ 5,500,000	$ 200,000
Share based income tax benefit (expense) | $	$ 2,100,000	$ 37,000
Restricted Stock Units (RSUs) | Share-based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	33.00%
Restricted Stock Units (RSUs) | Share-based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	33.00%
Restricted Stock Units (RSUs) | Share-based Payment Arrangement, Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	33.00%
2010 Option Plan | Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock available to acquire (in shares)	2,455,368
2015 Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock available to acquire (in shares)	1,700,000
Restricted stock units issued in period (in shares)	483,860
Shares available for grant (in shares)	738,602

BENEFIT PLANS - Additional Info

BENEFIT PLANS - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Maximum percentage of employees income available for contribution	100.00%
Employer contribution expense	$ 500,000	$ 300,000
Dover Downs Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Minimum required pension contributions	500,000
Expected employer contributions	800,000
Contributions to plan	$ 0

BENEFIT PLANS - Net Periodic Be

BENEFIT PLANS - Net Periodic Benefit (Income) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Retirement Benefits [Abstract]
Service cost	$ 0
Interest cost	223
Expected return on plan assets	(357)
Net periodic benefit (income) cost	$ (134)

SHAREHOLDERS_ EQUITY - Addition

SHAREHOLDERS’ EQUITY - Additional Information (Details)	Jan. 18, 2019shares	Mar. 31, 2020USD ($)$ / sharesshares	Mar. 31, 2019$ / sharesshares	Feb. 10, 2020USD ($)	Dec. 31, 2019USD ($)$ / sharesshares	Jul. 26, 2019USD ($)shares	Jun. 14, 2019USD ($)
Equity [Abstract]
Stock split ratio	3
Common stock authorized (in shares) | shares	100,000,000	100,000,000			100,000,000
Common stock par value (in dollars per share) | $ / shares		$ 0.01			$ 0.01
Stock repurchase program approved (up to)							$ 250,000,000
Number of purchased shares (in shares) | shares						2,504,971
Aggregate purchase price						$ 73,900,000
Capital return program				$ 100,000,000
Treasury stock retired (in shares) | shares		10,729,458	1,431,980
Treasury stock (in shares) | shares		0			9,079,690
Cash dividend per share (in dollars per share) | $ / shares		$ 0.10	$ 0
Cash dividend amount		$ 3,200,000
Available amount remaining under capital return program		$ 86,900,000			$ 19,700,000

SHAREHOLDERS_ EQUITY - Share Re

SHAREHOLDERS’ EQUITY - Share Repurchase (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Equity [Abstract]
Number of common shares repurchased	1,649,768	0
Total cost	$ 31,341	$ 409
Average cost per share, including commissions	$ 19

SEGMENT REPORTING (Details)

SEGMENT REPORTING (Details)	3 Months Ended
	Mar. 31, 2020USD ($)segment	Mar. 31, 2019USD ($)	Dec. 31, 2019USD ($)
Segment Reporting [Abstract]
Number of operating segments | segment	6
Number of reporting segments | segment	3
Segment Reporting Information [Line Items]
Total revenue	$ 109,148,000	$ 120,631,000
Income (loss) from operations	(3,169,000)	30,307,000
Income (loss) before provision for income taxes	(14,542,000)	23,269,000
Depreciation and amortization	8,979,000	6,769,000
Interest expense	11,516,000	7,051,000
Capital expenditures	2,999,000	7,499,000
Goodwill	133,082,000	132,035,000	$ 133,082,000
Total assets	1,215,323,000	951,076,000	1,021,887,000
Rhode Island
Segment Reporting Information [Line Items]
Total revenue	56,279,000	86,125,000
Income (loss) from operations	11,005,000	31,319,000
Income (loss) before provision for income taxes	11,041,000	29,007,000
Depreciation and amortization	4,782,000	4,415,000
Interest expense	0	2,319,000
Capital expenditures	1,139,000	6,902,000
Goodwill	83,101,000	83,101,000	83,101,000
Total assets	504,597,000	550,274,000
Delaware
Segment Reporting Information [Line Items]
Total revenue	21,086,000	1,525,000
Income (loss) from operations	324,000	0
Income (loss) before provision for income taxes	283,000	0
Depreciation and amortization	1,454,000	0
Interest expense	41,000	0
Capital expenditures	765,000	0
Goodwill	1,047,000	0	1,047,000
Total assets	128,912,000	140,407,000
Biloxi
Segment Reporting Information [Line Items]
Total revenue	25,482,000	31,032,000
Income (loss) from operations	1,777,000	5,414,000
Income (loss) before provision for income taxes	1,786,000	5,418,000
Depreciation and amortization	2,263,000	2,307,000
Interest expense	0	0
Capital expenditures	714,000	582,000
Goodwill	48,934,000	48,934,000	48,934,000
Total assets	251,228,000	261,645,000
Other
Segment Reporting Information [Line Items]
Total revenue	6,301,000	1,949,000
Income (loss) from operations	(16,275,000)	(6,426,000)
Income (loss) before provision for income taxes	(27,652,000)	(11,156,000)
Depreciation and amortization	480,000	47,000
Interest expense	11,475,000	4,732,000
Capital expenditures	381,000	15,000
Goodwill	0	0	$ 0
Total assets	$ 330,586,000	$ (1,250,000)

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Earnings Per Share [Abstract]
Net income (loss)	$ (8,878)	$ 17,596
Weighted average shares outstanding, basic (in shares)	31,569,000	38,248,000
Weighted average effect of dilutive securities (in shares)	91,000	119,000
Weighted average shares outstanding, diluted (in shares)	31,660,000	38,367,000
Per share data
Basic (in dollars per share)	$ (0.28)	$ 0.46
Diluted (in dollars per share)	$ (0.28)	$ 0.46
Share-based awards considered to be anti-dilutive (in shares)	102,443	0

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Subsequent Event	May 11, 2020USD ($)	Apr. 24, 2020casino
Term Loan principal | Senior Secured Credit Facility | Line of Credit
Subsequent Event [Line Items]
Change in loan facility | $	$ 275,000,000
Shreveport, MontBleu and Bally's Alantic City
Subsequent Event [Line Items]
Number of businesses acquired | casino		3

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)
Goodwill [Line Items]
Goodwill and Intangible Asset Impairment	$ 8,708	$ 0
Goodwill, Impairment Loss	5,408
Impairment of Intangible Assets (Excluding Goodwill)	$ 3,300
Weighted average cost of capital | Minimum
Goodwill [Line Items]
Goodwill measurement input	0.10
Weighted average cost of capital | Maximum
Goodwill [Line Items]
Goodwill measurement input	0.15

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Scheduleof Goodwill (Details)	3 Months Ended
	Mar. 31, 2020USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 133,082,000
Goodwill from current year business acquisitions	5,408,000
Impairment charges	(5,408,000)
Ending balance	133,082,000
Rhode Island
Goodwill [Roll Forward]
Beginning balance	83,101,000
Goodwill from current year business acquisitions	0
Impairment charges	0
Ending balance	83,101,000
Delaware
Goodwill [Roll Forward]
Beginning balance	1,047,000
Goodwill from current year business acquisitions	0
Impairment charges	0
Ending balance	1,047,000
Biloxi
Goodwill [Roll Forward]
Beginning balance	48,934,000
Goodwill from current year business acquisitions	0
Impairment charges	0
Ending balance	48,934,000
Other
Goodwill [Roll Forward]
Beginning balance	0
Goodwill from current year business acquisitions	5,408,000
Impairment charges	(5,408,000)
Ending balance	$ 0

Uncategorized Items - trwh-2020

Label	Element	Value
Retained Earnings [Member]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets	us-gaap_NewAccountingPronouncementOrChangeInAccountingPrincipleCumulativeEffectOfChangeOnEquityOrNetAssets1	$ (58,000)