Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2014 | Oct. 31, 2014 | |
Entity Information [Line Items] | ' | ' |
Entity Registrant Name | 'BOYD GAMING CORP | ' |
Entity Central Index Key | '0000906553 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Sep-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Amendment Flag | 'false | ' |
Entity Common Stock, Shares Outstanding | ' | 108,424,772 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current assets | ' | ' |
Cash and cash equivalents | $120,910 | $177,838 |
Accounts receivable, net | 26,873 | 65,569 |
Inventories | 16,041 | 19,719 |
Prepaid expenses and other current assets | 37,599 | 42,460 |
Income taxes receivable | 738 | 1,143 |
Deferred income taxes and current tax assets | 3,127 | 7,265 |
Total current assets | 230,451 | 334,680 |
Property and equipment, net | 2,278,854 | 3,505,613 |
Investments in Subsidiaries | 221,400 | 0 |
Debt financing costs, net | 60,679 | 84,209 |
Other assets, net | 49,977 | 61,259 |
Intangible assets, net | 982,910 | 1,070,660 |
Goodwill, net | 685,310 | 685,310 |
Total assets | 4,509,581 | 5,741,731 |
Current liabilities | ' | ' |
Current maturities of long-term debt | 27,693 | 33,559 |
Accounts payable | 68,636 | 75,478 |
Accrued liabilities | 251,109 | 341,947 |
Deferred income taxes and other current tax liabilities | 2,849 | 2,879 |
Total current liabilities | 350,287 | 453,863 |
Long-term debt, net of current maturities | 3,432,725 | 4,352,932 |
Deferred income taxes | 154,449 | 155,218 |
Other long-term tax liabilities | 28,706 | 42,188 |
Other liabilities | 80,807 | 87,093 |
Stockholders’ equity | ' | ' |
Preferred stock, $0.01 par value, 5,000,000 shares authorized | 0 | 0 |
Common stock, $0.01 par value, 200,000,000 shares authorized; 107,805,297 and 86,871,977 shares outstanding | 1,084 | 1,082 |
Additional paid-in capital | 914,391 | 902,496 |
Accumulated deficit | -452,692 | -432,074 |
Accumulated other comprehensive loss | -226 | -1,517 |
Total Boyd Gaming Corporation stockholders’ equity | 462,557 | 469,987 |
Noncontrolling interest | 50 | 180,450 |
Total stockholders’ equity | 462,607 | 650,437 |
Total liabilities and stockholders’ equity | 4,509,581 | 5,741,731 |
Fair Value, Measurements, Recurring [Member] | Level 1 | ' | ' |
Current assets | ' | ' |
Restricted cash | $25,163 | $20,686 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, shares issued | 108,424,772 | 108,155,002 |
Common stock, shares outstanding | 108,424,772 | 108,155,002 |
Preferred stock, par value | $0.01 | $0.01 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Operating revenues | ' | ' | ' | ' |
Gaming | $631,668 | $633,237 | $1,859,339 | $1,893,722 |
Food and beverage | 115,072 | 114,397 | 332,068 | 338,975 |
Room | 75,330 | 72,299 | 210,072 | 203,308 |
Other | 44,441 | 43,808 | 124,574 | 125,017 |
Gross revenues | 866,511 | 863,741 | 2,526,053 | 2,561,022 |
Less promotional allowances | 127,668 | 125,172 | 356,327 | 348,121 |
Net revenues | 738,843 | 738,569 | 2,169,726 | 2,212,901 |
Operating costs and expenses | ' | ' | ' | ' |
Gaming | 294,118 | 302,373 | 867,506 | 887,436 |
Food and beverage | 61,511 | 57,655 | 179,976 | 181,950 |
Room | 14,679 | 12,556 | 42,330 | 41,611 |
Other | 33,554 | 33,056 | 91,708 | 92,429 |
Selling, general and administrative | 113,436 | 122,837 | 349,494 | 373,865 |
Maintenance and utilities | 45,050 | 45,735 | 131,337 | 125,986 |
Depreciation and amortization | 66,168 | 69,002 | 198,245 | 209,358 |
Depreciation and amortization | ' | ' | 198,245 | ' |
Corporate expense | 15,064 | 12,084 | 52,605 | 42,588 |
Preopening expense | 1,262 | 1,675 | 3,836 | 4,829 |
Impairments of assets | 18,279 | 1,250 | 20,205 | 8,198 |
Asset transactions costs | 3,064 | -1,362 | 5,078 | 2,265 |
Other operating items, net | -1,116 | 3,386 | -1,863 | 5,181 |
Total operating costs and expenses | 665,069 | 660,247 | 1,940,457 | 1,973,780 |
Operating income | 73,774 | 78,322 | 229,269 | 239,121 |
Other expense (income) | ' | ' | ' | ' |
Interest income | -466 | -553 | -1,412 | -1,779 |
Interest expense, net | 75,420 | 83,145 | 226,219 | 266,953 |
Loss on early extinguishments of debt | 71 | 27,141 | 1,129 | 29,513 |
Other, net | 116 | 136 | 498 | 335 |
Total other expense, net | 75,141 | 109,869 | 226,434 | 294,352 |
Income (loss) from continuing operations before income taxes | -1,367 | -31,547 | 2,835 | -55,231 |
Income taxes benefit (expense) | -1,961 | -3,048 | 12,050 | 3,478 |
Loss from continuing operations, net of tax | -3,328 | -34,595 | -9,215 | -51,753 |
Income from discontinued operations, net of tax | 0 | 0 | 0 | 10,790 |
Net loss | -3,328 | -34,595 | -9,215 | -40,963 |
Less: net income (loss) attributable to noncontrolling interest | -11,777 | -2,672 | -11,403 | 8,039 |
Net loss attributable to Boyd Gaming Corporation | -15,105 | -37,267 | -20,618 | -32,924 |
Basic net income (loss) per common share: | ' | ' | ' | ' |
Continuing operations | ($0.14) | ($0.37) | ($0.19) | ($0.47) |
Discontinued operations | $0 | $0 | $0 | $0.12 |
Basic net loss per common share | ($0.14) | ($0.37) | ($0.19) | ($0.35) |
Weighted average basic shares outstanding | 109,923 | 101,555 | 109,854 | 93,122 |
Diluted net income (loss) per common share: | ' | ' | ' | ' |
Continuing operations | ($0.14) | ($0.37) | ($0.19) | ($0.47) |
Discontinued operations | $0 | $0 | $0 | $0.12 |
Diluted net loss per common share | ($0.14) | ($0.37) | ($0.19) | ($0.35) |
Weighted average diluted shares outstanding | 109,923 | 101,555 | 109,854 | 93,122 |
Unallocated to Segment | ' | ' | ' | ' |
Operating costs and expenses | ' | ' | ' | ' |
Depreciation and amortization | 66,168 | 69,002 | ' | 209,358 |
Corporate expense | 13,848 | 10,409 | 42,643 | 34,675 |
Preopening expense | ' | ' | 3,836 | 4,829 |
Impairments of assets | ' | ' | 20,205 | 6,282 |
Impairments of assets | ' | ' | ' | 6,282 |
Asset transactions costs | ' | ' | ' | $2,265 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Comprehensive Income (Loss) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Net loss | ($3,328) | ($34,595) | ($9,215) | ($40,963) |
Other comprehensive loss, net of tax: | ' | ' | ' | ' |
Fair value of adjustments to available-for-sale securities, net of tax | 681 | 52 | 1,291 | 167 |
Comprehensive loss | -2,647 | -34,543 | -7,924 | -40,796 |
Less: net income (loss) attributable to noncontrolling interest | 11,777 | 2,672 | 11,403 | -8,039 |
Comprehensive loss attributable to Boyd Gaming Corporation | ($14,424) | ($37,215) | ($19,327) | ($32,757) |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Fair value of adjustments to available-for-sale securities, tax | $0 | $0 | $0 | $0 |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statement of Changes in Stockholders' Equity (USD $) | Total | Common Stock | Additional Paid-in Capital | Accumulated Deficit | Accumulated Other Comprehensive Income (Loss), Net | Noncontrolling Interest | Other |
In Thousands, except Share data, unless otherwise specified | |||||||
Balances, January 1, 2014 at Dec. 31, 2012 | $467,127 | $869 | $655,694 | ($351,810) | ($962) | $163,336 | ' |
Balance, shares at Dec. 31, 2012 | ' | 86,871,977 | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' |
Net loss | -40,963 | 0 | 0 | -32,924 | 0 | -8,039 | ' |
Comprehensive income attributable to Boyd | 167 | 0 | 0 | 0 | 167 | 0 | ' |
Stock Issued During Period, Shares, New Issues | ' | 18,975,000 | ' | ' | ' | ' | ' |
Stock Issued During Period, Value, New Issues | 216,467 | 190 | 216,277 | ' | ' | ' | ' |
Stock options exercised | 13,591 | 18 | 13,573 | 0 | 0 | 0 | ' |
Stock options exercised, shares | ' | 1,827,723 | ' | ' | ' | ' | ' |
Release of restricted stock units, net of tax | -354 | 1 | -355 | 0 | 0 | 0 | ' |
RSU released/settled, shares | ' | 130,597 | ' | ' | ' | ' | ' |
Share-based compensation costs | 9,033 | 0 | 9,033 | 0 | 0 | 0 | ' |
Noncontrolling Interest, Decrease from Deconsolidation | 45,404 | 0 | 0 | 0 | 0 | -45,404 | 0 |
Balances, September 30, 2014 at Sep. 30, 2013 | 710,472 | 1,078 | 894,222 | -384,734 | -795 | 200,701 | ' |
Balance, shares at Sep. 30, 2013 | ' | 107,805,297 | ' | ' | ' | ' | ' |
Balances, January 1, 2014 at Dec. 31, 2013 | 650,437 | 1,082 | 902,496 | -432,074 | -1,517 | 180,450 | ' |
Balance, shares at Dec. 31, 2013 | 108,155,002 | 108,155,002 | ' | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' |
Net loss | -9,215 | 0 | 0 | -20,618 | 0 | 11,403 | ' |
Comprehensive income attributable to Boyd | 1,291 | 0 | 0 | 0 | 1,291 | 0 | ' |
Stock options exercised | 984 | 2 | 982 | 0 | 0 | 0 | ' |
Stock options exercised, shares | ' | 131,229 | ' | ' | ' | ' | ' |
Release of restricted stock units, net of tax | -326 | 0 | -326 | 0 | 0 | 0 | ' |
RSU released/settled, shares | ' | 138,541 | ' | ' | ' | ' | ' |
Share-based compensation costs | 11,239 | 0 | 11,239 | 0 | 0 | 0 | ' |
Capital Investment Attributable to Noncontrolling Interest | -30 | ' | ' | ' | ' | ' | 30 |
Deconsolidation of Borgata on September 30, 2014 | -191,833 | 0 | 0 | 0 | 0 | -191,833 | ' |
Noncontrolling Interest, Decrease from Deconsolidation | 191,833 | ' | ' | ' | ' | ' | 0 |
Balances, September 30, 2014 at Sep. 30, 2014 | $462,607 | $1,084 | $914,391 | ($452,692) | ($226) | $50 | ' |
Balance, shares at Sep. 30, 2014 | 108,424,772 | 108,424,772 | ' | ' | ' | ' | ' |
Condensed_Consolidated_Stateme4
Condensed Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Cash Flows from Operating Activities | ' | ' |
Net loss | ($9,215) | ($40,963) |
Adjustments to reconcile net loss to net cash provided by operating activities: | ' | ' |
Gain on discontinued operations, net of tax | 0 | -10,790 |
Depreciation and amortization | 198,245 | 209,358 |
Amortization of debt financing costs | 14,498 | 16,726 |
Amortization of discounts on debt | 5,860 | 13,862 |
Loss on early extinguishments of debt | 1,129 | 29,513 |
Share-based compensation expense | 11,239 | 9,033 |
Deferred income taxes | 11,690 | 7,027 |
Impairments of assets | 20,205 | 8,198 |
Other operating activities | 2,370 | 2,455 |
Changes in operating assets and liabilities: | ' | ' |
Restricted cash | -10,299 | -4,291 |
Accounts receivable, net | 788 | 1,529 |
Inventories | -655 | 375 |
Prepaid expenses and other current assets | -18,041 | -1,489 |
Current other tax asset | 3,575 | 4,062 |
Income taxes receivable | 396 | 584 |
Other assets, net | -650 | 22,519 |
Accounts payable and accrued liabilities | 7,651 | -19,093 |
Other long-term tax liabilities | -3,843 | -19,569 |
Other liabilities | -2,442 | 4,737 |
Net cash provided by operating activities | 232,501 | 233,783 |
Cash Flows from Investing Activities | ' | ' |
Capital expenditures | -94,617 | -100,618 |
Proceeds from sale of Echelon, net | 0 | 343,750 |
Purchase of Variable Interest Entity Option | 0 | 187,000 |
Proceeds from sale of North Las Vegas land, net | 0 | 4,875 |
Cash Divested from Deconsolidation | -26,891 | 0 |
Other investing activities | 3,187 | 198 |
Net cash provided by (used in) investing activities | -118,321 | 61,205 |
Cash Flows from Financing Activities | ' | ' |
Borrowings under Boyd Gaming bank credit facility | 605,000 | 2,711,375 |
Payments under Boyd Gaming bank credit facility | -698,400 | -2,738,325 |
Borrowings under Peninsula bank credit facility | 242,100 | 268,500 |
Payments under Peninsula bank credit facility | -283,350 | -296,688 |
Borrowings under Borgata bank credit facility | 410,900 | 297,100 |
Payments under Borgata bank credit facility | -444,900 | -300,800 |
Debt financing costs | -289 | -36,396 |
Payments on long-term debt | -7 | -10,818 |
Payments on retirements of long-term debt | -2,850 | -500,272 |
Stock options exercised | 984 | 13,591 |
Restricted stock units released, net | -201 | -354 |
Proceeds from sale of common stock | 0 | 216,467 |
Other financing activities | -95 | 0 |
Net cash used in financing activities | -171,108 | -376,620 |
Cash Flows from Discontinued Operations | ' | ' |
Cash flows from operating activities | 0 | -2,144 |
Cash flows from investing activities | 0 | 56,751 |
Cash flows from financing activities | ' | 0 |
Net cash used in discontinued operations | 0 | 54,607 |
Change in cash and cash equivalents | -56,928 | -27,025 |
Cash and cash equivalents, beginning of period | 177,838 | 192,545 |
Change in cash classified as discontinued operations | 0 | 283 |
Cash and cash equivalents, end of period | 120,910 | 165,803 |
Supplemental Disclosure of Cash Flow Information | ' | ' |
Cash paid for interest, net of amounts capitalized | 218,499 | 248,862 |
Cash paid (received) for income taxes, net of refunds | 232 | -6,424 |
Supplemental Schedule of Noncash Investing and Financing Activities | ' | ' |
Payables incurred for capital expenditures | 10,005 | 7,849 |
Parent | ' | ' |
Cash Flows from Operating Activities | ' | ' |
Net loss | ' | -32,924 |
Adjustments to reconcile net loss to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 4,399 | 5,008 |
Loss on early extinguishments of debt | 0 | 25,001 |
Impairments of assets | 320 | ' |
Changes in operating assets and liabilities: | ' | ' |
Net cash provided by operating activities | -43,397 | -204,968 |
Cash Flows from Investing Activities | ' | ' |
Capital expenditures | -24,090 | -22,927 |
Proceeds from sale of Echelon, net | ' | 343,750 |
Purchase of Variable Interest Entity Option | ' | 187,000 |
Proceeds from sale of North Las Vegas land, net | ' | 4,875 |
Cash Divested from Deconsolidation | 0 | ' |
Net cash provided by (used in) investing activities | -24,090 | 143,965 |
Cash Flows from Financing Activities | ' | ' |
Debt financing costs | -84 | -23,562 |
Payments on long-term debt | 0 | -10,341 |
Payments on retirements of long-term debt | 0 | -459,278 |
Stock options exercised | 984 | 13,591 |
Restricted stock units released, net | -201 | -354 |
Net cash used in financing activities | 67,489 | 58,483 |
Cash Flows from Discontinued Operations | ' | ' |
Cash flows from operating activities | ' | 0 |
Cash flows from investing activities | ' | 0 |
Cash flows from financing activities | ' | 0 |
Net cash used in discontinued operations | ' | 0 |
Change in cash and cash equivalents | 2 | -2,520 |
Cash and cash equivalents, beginning of period | 0 | 2,520 |
Cash and cash equivalents, end of period | $2 | ' |
Organization_and_Basis_of_Pres
Organization and Basis of Presentation | 9 Months Ended |
Sep. 30, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Organization and Basis of Presentation | ' |
ORGANIZATION AND BASIS OF PRESENTATION | |
Organization | |
Boyd Gaming Corporation (and together with its subsidiaries, the "Company," "Boyd Gaming," "we" or "us") was incorporated in the state of Nevada in 1988 and has been operating since 1975. The Company's common stock is traded on the New York Stock Exchange under the symbol "BYD". | |
We are a diversified operator of 21 wholly owned gaming entertainment properties and one property, Borgata Hotel Casino & Spa ("Borgata"), in which we hold a non-controlling 50% equity interest in the limited liability company. Headquartered in Las Vegas, we have gaming operations in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi and New Jersey. | |
Basis of Presentation | |
The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with the instructions to the Quarterly Report on Form 10-Q and Article 10 of Regulation S-X and, therefore, do not include all information and footnote disclosures necessary for complete financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP"). | |
The results for the periods indicated are unaudited, but reflect all adjustments (consisting only of normal recurring adjustments) that management considers necessary for a fair presentation of financial position, results of operations and cash flows. Results of operations and cash flows for the interim periods presented herein are not necessarily indicative of the results that would be achieved during a full year of operations or in future periods. | |
The accompanying condensed consolidated financial statements include the accounts of Boyd Gaming and its wholly owned subsidiaries. Investments in unconsolidated affiliates, which do not meet the consolidation criteria of the authoritative accounting guidance for voting interest, controlling interest or variable interest entities, are accounted for under the equity method. All significant intercompany accounts and transactions have been eliminated in consolidation. | |
On September 30, 2014, our Atlantic City partner reacquired its ownership interest in and its substantive participation rights in the management of Borgata. As a result, we deconsolidated Borgata as of the close of business on September 30, 2014, eliminating the assets, liabilities and non-controlling interests from our balance sheet. We will account for our investment in Borgata applying the equity method for periods subsequent to the deconsolidation. (See Note 4.) | |
These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2013, as filed with the U.S. Securities and Exchange Commission ("SEC") on March 14, 2014. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Accounting Policies [Abstract] | ' | |||||||||||||||
Summary of Significant Accounting Policies | ' | |||||||||||||||
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||||||||||||||||
Promotional Allowances | ||||||||||||||||
The retail value of accommodations, food and beverage, and other services furnished to guests without charge is included in gross revenues and then deducted as a promotional allowance. Promotional allowances also include incentives earned in our slot bonus program such as cash, complimentary play, and the estimated retail value of goods and services (such as complimentary rooms and food and beverages). We reward customers, through the use of bonus programs, with points based on amounts wagered that can be redeemed for a specified period of time for complimentary slot play, food and beverage, and to a lesser extent for other goods or services, depending upon the property. | ||||||||||||||||
The amounts included in promotional allowances are as follows: | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
(In thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||
Rooms | $ | 40,420 | $ | 39,296 | $ | 112,825 | $ | 109,737 | ||||||||
Food and beverage | 53,247 | 52,708 | 152,462 | 153,361 | ||||||||||||
Other | 34,001 | 33,168 | 91,040 | 85,023 | ||||||||||||
Total promotional allowances | $ | 127,668 | $ | 125,172 | $ | 356,327 | $ | 348,121 | ||||||||
The estimated costs of providing such promotional allowances are as follows: | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
(In thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||
Rooms | $ | 15,371 | $ | 15,361 | $ | 43,956 | $ | 44,505 | ||||||||
Food and beverage | 46,841 | 47,252 | 133,889 | 136,435 | ||||||||||||
Other | 6,512 | 6,499 | 17,199 | 17,058 | ||||||||||||
Total cost of promotional allowances | $ | 68,724 | $ | 69,112 | $ | 195,044 | $ | 197,998 | ||||||||
Gaming Taxes | ||||||||||||||||
We are subject to taxes based on gross gaming revenues in the jurisdictions in which we operate. These gaming taxes are assessed based on our gaming revenues and are recorded as a gaming expense in the condensed consolidated statements of operations. These taxes totaled approximately $96.8 million and $99.2 million for the three months ended September 30, 2014 and 2013, respectively, and $289.4 million and $303.3 million for the nine months ended September 30, 2014 and 2013, respectively. | ||||||||||||||||
Income Taxes | ||||||||||||||||
Income taxes are recorded under the asset and liability method, whereby deferred tax assets and liabilities are recognized based on the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and attributable to operating loss and tax credit carryforwards. We reduce the carrying amounts of deferred tax assets by a valuation allowance, if based on the available evidence it is more likely than not that such assets will not be realized. Accordingly, the need to establish valuation allowances for deferred tax assets is continually assessed based on a more-likely-than-not realization threshold. This assessment considers, among other matters, the nature, frequency and severity of current and cumulative losses, forecasts of future profitability, the duration of statutory carryforward periods, our experience with the utilization of operating loss and tax credit carryforwards before expiration and tax planning strategies. | ||||||||||||||||
In accordance with GAAP, we have computed our provision for income taxes by applying the actual effective tax rate, under the discrete method, to quarter-to-date income. The discrete method was used to calculate the income tax expense or benefit as the annual effective tax rate was not considered a reliable estimate of year-to-date income tax expense or benefit. We believe this method provides the most reliable estimate of year-to-date income tax expense. | ||||||||||||||||
Our current rate is impacted by adjustments that are largely independent of our operating results before taxes. Such adjustments relate primarily to the accrual of non-cash tax expense in connection with the tax amortization of indefinite-lived intangible assets that are not available to offset existing deferred tax assets. The deferred tax liabilities created by the tax amortization of these intangibles cannot be used to offset corresponding increases in the net operating loss deferred tax assets when determining our valuation allowance. | ||||||||||||||||
Other Long Term Tax Liabilities | ||||||||||||||||
The Company's income tax returns are subject to examination by the Internal Revenue Service ("IRS") and other tax authorities in the locations where it operates. The Company assesses potentially unfavorable outcomes of such examinations based on accounting standards for uncertain income taxes, which prescribe a minimum recognition threshold a tax position is required to meet before being recognized in the financial statements. | ||||||||||||||||
Uncertain tax position accounting standards apply to all tax positions related to income taxes. These accounting standards utilize a two-step approach for evaluating tax positions. Recognition occurs when the Company concludes that a tax position, based on its technical merits, is more likely than not to be sustained upon examination. Measurement is only addressed if the position is deemed to be more likely than not to be sustained. The tax benefit is measured as the largest amount of benefit that is more likely than not to be realized upon settlement. Use of the term "more likely than not" indicates the likelihood of occurrence is greater than 50%. | ||||||||||||||||
Tax positions failing to qualify for initial recognition are recognized in the first subsequent interim period that they meet the "more likely than not" standard. If it is subsequently determined that a previously recognized tax position no longer meets the "more likely than not" standard, it is required that the tax position is derecognized. Accounting standards for uncertain tax positions specifically prohibit the use of a valuation allowance as a substitute for derecognition of tax positions. As applicable, the Company will recognize accrued penalties and interest related to unrecognized tax benefits in the provision for income taxes. Accrued interest and penalties are included in other long-term tax liabilities on the balance sheet. | ||||||||||||||||
Net Income (Loss) per Share | ||||||||||||||||
Basic net income (loss) per share is computed by dividing net income (loss) applicable to Boyd Gaming Corporation stockholders by the weighted-average number of common shares outstanding during the period. Diluted earnings per share reflects the additional dilution for all potentially-dilutive securities, such as stock options. | ||||||||||||||||
Due to the net loss for the nine months ended September 30, 2014, the effect of all potential common share equivalents was anti-dilutive, and therefore all such shares were excluded from the computation of diluted weighted average shares outstanding for this period. The amount of potential common share equivalents were as follows: | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
(In thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||
Potential dilutive effect | 904.6 | 952.8 | 926.1 | 942.4 | ||||||||||||
Use of Estimates | ||||||||||||||||
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. | ||||||||||||||||
Recently Issued Accounting Pronouncements | ||||||||||||||||
Accounting Standards Update 2014-15 Disclosure of Uncertainties About an Entity's Ability to Continue as a Going Concern ("Update 2014-15") | ||||||||||||||||
In August 2014, the FASB issued Update 2014-15, which provides guidance on determining when and how reporting entities must disclose going-concern uncertainties in their financial statements. The pronouncement is effective for annual periods ending after December 15, 2016, and interim periods thereafter, and early adoption is permitted. The impact of the adoption of Update 2014-15 is currently under evaluation. | ||||||||||||||||
Accounting Standards Update 2014-12 Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period ("Update 2014-12") | ||||||||||||||||
In June 2014, the Financial Accounting Standards Board ("FASB") issued Update 2014-12. Update 2014-12 requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant-date fair value of the award. The standard is effective for annual reporting periods beginning after December 15, 2015, with early adoption permitted. The Company is evaluating the potential impacts of the new standard on its existing stock-based compensation plans. | ||||||||||||||||
Accounting Standards Update 2013-11 Income Taxes (Topic 740) Presentation of an Unrecognized Tax Benefit ("UTB") When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists ("Update 2013-11") | ||||||||||||||||
In July 2013, the FASB issued Update 2013-11. The objective of Update 2013-11 is to provide guidance on the financial statement presentation of an UTB when a net operating loss ("NOL") carryforward, a similar tax loss, or a tax credit carryforward exists. The Company is required to present an UTB in the financial statements as a reduction to a deferred tax asset for a NOL carryforward, a similar tax loss, or a tax credit carryforward. | ||||||||||||||||
Update 2013-11 is effective for interim and annual periods beginning after December 15, 2013. The adoption of Update 2013-11 did not have a material effect on our consolidated financial statements. | ||||||||||||||||
Accounting Standards Update 2014-09 Revenue from Contracts with Customers (Topic 606) ("Update 2014-09") | ||||||||||||||||
In May 2014, the FASB issued Update 2014-09. Update 2014-09 outlines a new, single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The pronouncement is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and early adoption is not permitted. The impact of the adoption of Update 2014-09 to the Company's consolidated financial position or results of operations is currently under evaluation. | ||||||||||||||||
Accounting Standards Update 2014-08 Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity ("Update 2014-08") | ||||||||||||||||
In April 2014, the FASB issued Update 2014-08. Update 2014-08 raises the threshold for determining which disposals are required to be presented as discontinued operations and modifies related disclosure requirements. The standard is applied prospectively and is effective in 2015 with early adoption permitted. The Company is currently assessing the potential impact that the adoption of this guidance will have on its financial position and results of operations. | ||||||||||||||||
A variety of proposed or otherwise potential accounting standards are currently being studied by standard-setting organizations and certain regulatory agencies. Because of the tentative and preliminary nature of such proposed standards, we have not yet determined the effect, if any, that the implementation of such proposed standards would have on our consolidated financial statements. |
Disposition
Disposition | 9 Months Ended |
Sep. 30, 2014 | |
Business Combinations [Abstract] | ' |
Disposition | ' |
DISPOSITION | |
Discontinued Operations - Disposition of Dania Jai-Alai | |
On May 22, 2013, we consummated the sale of certain assets and liabilities of the Dania pari-mutuel facility ("Dania Jai-Alia"), located in Broward County, Florida, for a sales price of $65.5 million. The sale was pursuant to an asset agreement (the "New Dania Agreement") that we entered into with Dania Entertainment Center, LLC ("Dania Entertainment"). As part of the New Dania Agreement, the $5 million non-refundable deposit and $2 million fees paid to us in 2011 by Dania Entertainment were applied to the sales price, and we received $58.5 million in cash and recorded a pre-tax gain of $18.9 million in second quarter 2013. We have presented the results of Dania Jai-Alai Business as discontinued operations for all periods presented in these condensed consolidated financial statements. There were no assets and liabilities of the discontinued operation as of September 30, 2014 and December 31, 2013. |
Deconsolidation_of_Certain_Int
Deconsolidation of Certain Interests | 9 Months Ended | ||||
Sep. 30, 2014 | |||||
Consolidated Entities [Line Items] | ' | ||||
Consolidation of Certain Interests | ' | ||||
CONSOLIDATION OF CERTAIN INTERESTS | |||||
Borgata Hotel Casino and Spa | |||||
The Company and MGM Resorts International ("MGM") each originally held a 50% interest in Marina District Development Holding Co., LLC ("Holding Company"). Holding Company owns all the equity interests in Marina District Development Company, LLC ("MDDC"), d.b.a. Borgata Hotel Casino and Spa ("Borgata"). We are the managing member of Holding Company, and we are responsible for the day-to-day operations of Borgata. | |||||
In February 2010, we entered into an agreement with MGM to amend the operating agreement to, among other things, facilitate the transfer of MGM's interest in Holding Company ("MGM Interest") to a divestiture trust (the "Divestiture Trust") established for the purpose of selling the MGM Interest to a third party. The proposed sale of the MGM Interest through the Divestiture Trust was part of a then-proposed settlement agreement between MGM and the New Jersey Department of Gaming Enforcement (the "NJDGE"). | |||||
On March 17, 2010, MGM announced that its settlement agreement with the NJDGE had been approved by the New Jersey Casino Control Commission ("NJCCC"). Upon the transfer of MGM's ownership interest into the Divestiture Trust on March 24, 2010, we determined that we had control, as defined in the relevant accounting literature, of Holding Company and commenced consolidating the business as of that date. Subsequent to a Joint Petition of MGM, the Company and Holding Company, on February 13, 2013, the NJCCC approved amendments to the settlement agreement which permitted MGM to file an application for a statement of compliance, which, if approved, would permit MGM to reacquire its interest in Holding Company. | |||||
The NJCCC approved MGM’s application for licensure on September 10, 2014. On September 30, 2014, the Divestiture Trust was dissolved and MGM reacquired its Borgata interest and its substantive participation rights in the management of Holding Company. As a result, we deconsolidated Borgata as of the close of business on September 30, 2014, eliminating the assets, liabilities and non-controlling interests recorded for Holding Company from our balance sheet, and will account for our investment in Borgata applying the equity method for periods subsequent to the deconsolidation. As a result of the deconsolidation, we adjusted the book value of our investment to equal fair value and recognized a loss due to the deconsolidation of $12.1 million in our third quarter 2014 results, which was recorded in impairments of assets on our condensed consolidated statement of operations. We will account for our investment in Borgata applying the equity method for periods subsequent to the deconsolidation. | |||||
We determined the fair value of our investment in Borgata as of the date of deconsolidation using a weighted average allocation of both the income and market approach models. The income approach is based upon a discounted cash flow method, whereas the market approach uses the guideline public company method. Specifically, the income approach focuses on the expected cash flows of the Borgata for a finite period of years and discounting them to present value. The market approach focuses on comparing the Borgata to selected reasonable similar (or “guideline”) publicly-traded companies. Under this method, valuation multiples are: (i) derived from the operating data of selected guideline companies; (ii) evaluated and adjusted based on the strengths and weaknesses of Borgata relative to the selected guideline companies; and (iii) applied to the operating data of Borgata to arrive at an indication of value. The application of the market approach results in an estimate of the price reasonably expected to be realized from a sale of Borgata. Using these models, we determined that the fair value of our investment in Borgata at September 30, 2014, was $221.4 million. | |||||
The following table presents the carrying values of the major categories of assets and liabilities of Borgata, immediately preceding its deconsolidation on September 30, 2014, which are excluded from our consolidated balance sheet as of September 30, 2014: | |||||
September 30, | |||||
(In thousands) | 2014 | ||||
ASSETS | |||||
Current assets | $ | 98,119 | |||
Long-term assets | 1,220,036 | ||||
Total Assets | $ | 1,318,155 | |||
LIABILITIES AND NONCONTROLLING INTERESTS | |||||
Current liabilities | $ | 106,666 | |||
Long-term liabilities | 786,278 | ||||
Noncontrolling interests | 191,833 | ||||
Total Liabilities and Noncontrolling Interests | $ | 1,084,777 | |||
LVE Energy Partners, LLC | |||||
LVE Energy Partners, LLC ("LVE") was a joint venture between Marina Energy LLC and DCO ECH Energy, LLC. Through our wholly-owned subsidiary, Echelon Resorts, LLC ("Echelon Resorts"), we had entered into an Energy Sales Agreement ("ESA") with LVE to design, build, own and operate a central energy center and related distribution system for our planned Echelon resort development. | |||||
Accounting guidance required us to consolidate LVE for financial statement purposes, as we determined that we were the primary beneficiary of the executory contract, the ESA, giving rise to the variable interest. | |||||
In connection with the disposition of Echelon on March 4, 2013, we exercised an option to acquire the central energy center assets from LVE for $187.0 million. We immediately sold these assets to the buyer of Echelon and the ESA was terminated. As a result, we ceased consolidation of LVE as of that date. |
Property_and_Equipment_Net
Property and Equipment, Net | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Property and Equipment, Net | ' | |||||||
PROPERTY AND EQUIPMENT, NET | ||||||||
Property and equipment, net consists of the following: | ||||||||
September 30, | December 31, | |||||||
(In thousands) | 2014 | 2013 | ||||||
Land | $ | 229,684 | $ | 336,079 | ||||
Buildings and improvements | 2,508,826 | 3,852,039 | ||||||
Furniture and equipment | 1,067,571 | 1,332,090 | ||||||
Riverboats and barges | 189,536 | 189,175 | ||||||
Construction in progress | 82,493 | 72,141 | ||||||
Other | 14,555 | 21,750 | ||||||
Total property and equipment | 4,092,665 | 5,803,274 | ||||||
Less accumulated depreciation | 1,813,811 | 2,297,661 | ||||||
Property and equipment, net | $ | 2,278,854 | $ | 3,505,613 | ||||
Other property and equipment presented in the table above relates to the estimated net realizable value of construction materials inventory that was not disposed of with the sale of the Echelon project. Such assets are not in service and are not currently being depreciated. | ||||||||
Depreciation expense for the three months ended September 30, 2014 and 2013 was $57.5 million and $56.9 million, respectively. Depreciation expense for the nine months ended September 30, 2014 and 2013 was $172.6 million and $173.6 million, respectively. |
Intangible_Assets
Intangible Assets | 9 Months Ended | |||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||
Intangible Assets, Net (Excluding Goodwill) [Abstract] | ' | |||||||||||||||||
Intangible Assets | ' | |||||||||||||||||
INTANGIBLE ASSETS | ||||||||||||||||||
Intangible assets consist of the following: | ||||||||||||||||||
September 30, 2014 | ||||||||||||||||||
Weighted | Gross | Cumulative | ||||||||||||||||
Average Life | Carrying | Cumulative | Impairment | Intangible | ||||||||||||||
(In thousands) | Remaining | Value | Amortization | Losses | Assets, Net | |||||||||||||
Amortizing intangibles: | ||||||||||||||||||
Customer relationships | 2.8 years | $ | 154,000 | $ | (93,715 | ) | $ | — | $ | 60,285 | ||||||||
Favorable lease rates | 32.7 years | 45,370 | (10,694 | ) | — | 34,676 | ||||||||||||
Development agreement | — | 21,373 | — | — | 21,373 | |||||||||||||
220,743 | (104,409 | ) | — | 116,334 | ||||||||||||||
Indefinite lived intangible assets: | ||||||||||||||||||
Trademarks and other | Indefinite | 129,501 | — | (3,200 | ) | 126,301 | ||||||||||||
Gaming license rights | Indefinite | 955,135 | (33,960 | ) | (180,900 | ) | 740,275 | |||||||||||
1,084,636 | (33,960 | ) | (184,100 | ) | 866,576 | |||||||||||||
Balance, September 30, 2014 | $ | 1,305,379 | $ | (138,369 | ) | $ | (184,100 | ) | $ | 982,910 | ||||||||
December 31, 2013 | ||||||||||||||||||
Weighted | Gross | Cumulative | ||||||||||||||||
Average Life | Carrying | Cumulative | Impairment | Intangible | ||||||||||||||
(In thousands) | Remaining | Value | Amortization | Losses | Assets, Net | |||||||||||||
Amortizing intangibles: | ||||||||||||||||||
Customer relationships | 3.6 years | $ | 154,000 | $ | (68,733 | ) | $ | — | $ | 85,267 | ||||||||
Non-competition agreement | — | 3,200 | (3,200 | ) | — | — | ||||||||||||
Favorable lease rates | 34.4 years | 45,370 | (9,912 | ) | — | 35,458 | ||||||||||||
Development agreement | — | 21,373 | — | — | 21,373 | |||||||||||||
223,943 | (81,845 | ) | — | 142,098 | ||||||||||||||
Indefinite lived intangible assets: | ||||||||||||||||||
Trademarks and other | Indefinite | 196,487 | — | (8,200 | ) | 188,287 | ||||||||||||
Gaming license rights | Indefinite | 955,135 | (33,960 | ) | (180,900 | ) | 740,275 | |||||||||||
1,151,622 | (33,960 | ) | (189,100 | ) | 928,562 | |||||||||||||
Balance, December 31, 2013 | $ | 1,375,565 | $ | (115,805 | ) | $ | (189,100 | ) | $ | 1,070,660 | ||||||||
Accrued_Liabilities
Accrued Liabilities | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Payables and Accruals [Abstract] | ' | |||||||
Accrued Liabilities | ' | |||||||
ACCRUED LIABILITIES | ||||||||
Accrued liabilities consist of the following: | ||||||||
September 30, | December 31, | |||||||
(In thousands) | 2014 | 2013 | ||||||
Payroll and related expenses | $ | 67,371 | $ | 90,602 | ||||
Interest | 28,290 | 47,497 | ||||||
Gaming liabilities | 38,880 | 58,145 | ||||||
Player loyalty program liabilities | 19,360 | 25,159 | ||||||
Accrued liabilities | 97,208 | 120,544 | ||||||
Total accrued liabilities | $ | 251,109 | $ | 341,947 | ||||
LongTerm_Debt
Long-Term Debt | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||||||
Long-Term Debt | ' | ||||||||||||||||||
LONG-TERM DEBT | |||||||||||||||||||
Long-term debt, net of current maturities consists of the following: | |||||||||||||||||||
September 30, 2014 | |||||||||||||||||||
Interest | Unamortized | ||||||||||||||||||
Rates at | Outstanding | Unamortized | Origination | Long-Term | |||||||||||||||
(In thousands) | Sept. 30, 2014 | Principal | Discount | Fees | Debt, Net | ||||||||||||||
Boyd Debt: | |||||||||||||||||||
Boyd Gaming Debt: | |||||||||||||||||||
Bank credit facility | 3.67 | % | $ | 1,374,325 | $ | (3,750 | ) | $ | — | $ | 1,370,575 | ||||||||
9.125% senior notes due 2018 | 9.13 | % | 500,000 | — | (5,155 | ) | 494,845 | ||||||||||||
9.00% senior notes due 2020 | 9 | % | 350,000 | — | — | 350,000 | |||||||||||||
HoldCo Note | 6 | % | 147,320 | (13,228 | ) | — | 134,092 | ||||||||||||
2,371,645 | (16,978 | ) | (5,155 | ) | 2,349,512 | ||||||||||||||
Peninsula Segment Debt: | |||||||||||||||||||
Bank credit facility | 4.25 | % | 760,900 | — | — | 760,900 | |||||||||||||
8.375% senior notes due 2018 | 8.38 | % | 350,000 | — | — | 350,000 | |||||||||||||
Other | various | 6 | — | — | 6 | ||||||||||||||
1,110,906 | — | — | 1,110,906 | ||||||||||||||||
Total long-term debt | 3,482,551 | (16,978 | ) | (5,155 | ) | 3,460,418 | |||||||||||||
Less current maturities | 27,693 | — | — | 27,693 | |||||||||||||||
Long-term debt, net | $ | 3,454,858 | $ | (16,978 | ) | $ | (5,155 | ) | $ | 3,432,725 | |||||||||
December 31, 2013 | |||||||||||||||||||
Interest | Unamortized | ||||||||||||||||||
Rates at | Outstanding | Unamortized | Origination | Long-Term | |||||||||||||||
(In thousands) | Dec. 31, 2013 | Principal | Discount | Fees | Debt, Net | ||||||||||||||
Boyd Debt: | |||||||||||||||||||
Boyd Gaming Debt: | |||||||||||||||||||
Bank credit facility | 3.66 | % | $ | 1,467,725 | $ | (4,233 | ) | $ | — | $ | 1,463,492 | ||||||||
9.125% senior notes due 2018 | 9.13 | % | 500,000 | — | (6,082 | ) | 493,918 | ||||||||||||
9.00% senior notes due 2020 | 9 | % | 350,000 | — | — | 350,000 | |||||||||||||
HoldCo Note | 6 | % | 143,030 | (17,371 | ) | — | 125,659 | ||||||||||||
2,460,755 | (21,604 | ) | (6,082 | ) | 2,433,069 | ||||||||||||||
Peninsula Segment Debt: | |||||||||||||||||||
Bank credit facility | 4.2 | % | 802,150 | — | — | 802,150 | |||||||||||||
8.375% senior notes due 2018 | 8.38 | % | 350,000 | — | — | 350,000 | |||||||||||||
Other | various | 12 | — | — | 12 | ||||||||||||||
1,152,162 | — | — | 1,152,162 | ||||||||||||||||
Total Boyd Debt | 3,612,917 | (21,604 | ) | (6,082 | ) | 3,585,231 | |||||||||||||
Borgata Debt: | |||||||||||||||||||
Bank credit facility | 3.86 | % | 39,900 | — | — | 39,900 | |||||||||||||
Incremental term loan | 6.75 | % | 380,000 | (3,766 | ) | — | 376,234 | ||||||||||||
9.875% senior secured notes due 2018 | 9.88 | % | 393,500 | (1,811 | ) | (6,563 | ) | 385,126 | |||||||||||
Total Borgata Debt | 813,400 | (5,577 | ) | (6,563 | ) | 801,260 | |||||||||||||
Less current maturities | 33,559 | — | — | 33,559 | |||||||||||||||
Long-term debt, net | $ | 4,392,758 | $ | (27,181 | ) | $ | (12,645 | ) | $ | 4,352,932 | |||||||||
Boyd Gaming Debt | |||||||||||||||||||
Boyd Bank Credit Facility | |||||||||||||||||||
The net amounts outstanding under the Third Amended and Restated Credit Agreement (the "Boyd Gaming Credit Facility") were: | |||||||||||||||||||
(In thousands) | September 30, 2014 | December 31, 2013 | |||||||||||||||||
Revolving Credit Facility | $ | 266,250 | $ | 295,000 | |||||||||||||||
Term A Loan | 234,375 | 246,875 | |||||||||||||||||
Term B Loan | 858,750 | 897,750 | |||||||||||||||||
Swing Loan | 11,200 | 23,867 | |||||||||||||||||
Total outstanding borrowings under the Boyd Gaming Credit Facility | $ | 1,370,575 | $ | 1,463,492 | |||||||||||||||
At September 30, 2014, approximately $1.4 billion was outstanding under the Boyd Gaming Credit Facility and $7.7 million was allocated to support various letters of credit, leaving remaining contractual availability of $311.1 million. | |||||||||||||||||||
HoldCo Note | |||||||||||||||||||
In accordance with its terms, $4.3 million of accrued and unpaid interest was added to the principal balance of the HoldCo Note during the second quarter of 2014. | |||||||||||||||||||
Peninsula Segment Debt | |||||||||||||||||||
Bank Credit Facility | |||||||||||||||||||
At September 30, 2014, approximately $760.9 million was outstanding under the Peninsula senior secured credit facility (the "Peninsula Credit Facility") and $5.6 million was allocated to support various letters of credit, leaving remaining contractual availability of $30.0 million. | |||||||||||||||||||
Under the First Amendment to the Credit Agreement entered into on May 1, 2013 (the "Amendment"), Peninsula is allowed to pay its quarterly amortization installments prior to the last day of the applicable quarter. As of September 30, 2014, Peninsula has voluntarily paid its quarterly amortization installment due on or before December 31, 2014. As such, current maturities of long-term debt and leases on the condensed consolidated balance sheet as of September 30, 2014, reflect only three quarterly amortization installments for those installment payments due on or before March 31, 2015, June 30, 2015, and September 30, 2015. | |||||||||||||||||||
Loss on Debt Extinguishments and Modifications | |||||||||||||||||||
During the three and nine months ended September 30, 2014, Peninsula incurred non-cash charges of $0.1 million and $1.1 million, respectively, for deferred debt financing costs written off, which represents the ratable reduction in borrowing capacity due to optional prepayments made during these periods. | |||||||||||||||||||
Covenant Compliance | |||||||||||||||||||
As of September 30, 2014, we believe that Boyd Gaming and Peninsula were in compliance with the financial and other covenants of their respective debt instruments. |
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies | ' |
COMMITMENTS AND CONTINGENCIES | |
Commitments | |
There have been no material changes to our commitments described under Note 13, Commitments and Contingencies, in our Annual Report on Form 10-K for the year ended December 31, 2013 filed with the SEC on March 14, 2014. | |
Contingencies | |
Legal Matters | |
We are parties to various legal proceedings arising in the ordinary course of business. We believe that all pending claims, if adversely decided, would not have a material adverse effect on our business, financial position or results of operations. |
Stockholders_Equity_and_Stock_
Stockholders' Equity and Stock Incentive Plans | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||
Stockholders' Equity and Stock Incentive Plans | ' | |||||||||||||||
STOCKHOLDERS' EQUITY AND STOCK INCENTIVE PLANS | ||||||||||||||||
Share-Based Compensation | ||||||||||||||||
We account for share-based awards exchanged for employee services in accordance with the authoritative accounting guidance for share-based payments. Under the guidance, share-based compensation expense is measured at the grant date, based on the estimated fair value of the award, and is recognized as expense, net of estimated forfeitures, over the employee's requisite service period. | ||||||||||||||||
The following table provides classification detail of the total costs related to our share-based employee compensation plans reported in our condensed consolidated statements of operations. | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
(In thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||
Gaming | $ | 49 | $ | 59 | $ | 231 | $ | 176 | ||||||||
Food and beverage | 9 | 12 | 44 | 34 | ||||||||||||
Room | 4 | 5 | 21 | 16 | ||||||||||||
Selling, general and administrative | 247 | 298 | 1,173 | 894 | ||||||||||||
Corporate expense | 1,217 | 1,675 | 9,962 | 7,913 | ||||||||||||
Other operating items, net | (192 | ) | — | (192 | ) | — | ||||||||||
Total share-based compensation expense | $ | 1,334 | $ | 2,049 | $ | 11,239 | $ | 9,033 | ||||||||
Noncontrolling_Interest
Noncontrolling Interest | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Noncontrolling Interest [Abstract] | ' | |||||||||||||||
Noncontrolling Interest | ' | |||||||||||||||
NONCONTROLLING INTEREST | ||||||||||||||||
Noncontrolling interest primarily represents (i) until the deconsolidation of Borgata on September 30, 2014, the 50% interest in Holding Company held by the Divestiture Trust for the economic benefit of MGM, which was initially recorded at fair value at the March 24, 2010 date of the effective change in control; and (ii) until the Echelon sale, which closed on March 4, 2013, all 100% of the members' equity interest in LVE, the variable interest entity which had been consolidated in our financial statements, but in which we held no equity interest. | ||||||||||||||||
Changes in the noncontrolling interest are as follows: | ||||||||||||||||
Nine Months Ended September 30, 2014 | ||||||||||||||||
(In thousands) | Holding Company | Other | Total | |||||||||||||
Balance, January 1, 2014 | $ | 180,430 | $ | 20 | $ | 180,450 | ||||||||||
Attributable net income | 11,403 | — | 11,403 | |||||||||||||
Capital contributions | — | 30 | 30 | |||||||||||||
Deconsolidation of Borgata on September 30, 2014 | (191,833 | ) | — | (191,833 | ) | |||||||||||
Balance, September 30, 2014 | $ | — | $ | 50 | $ | 50 | ||||||||||
Nine Months Ended September 30, 2013 | ||||||||||||||||
(In thousands) | Holding Company | LVE | Other | Total | ||||||||||||
Balance, January 1, 2013 | $ | 208,277 | $ | (44,961 | ) | $ | 20 | $ | 163,336 | |||||||
Attributable net loss | (7,596 | ) | (443 | ) | — | (8,039 | ) | |||||||||
Deconsolidation of LVE on March 4, 2013 | — | 45,404 | — | 45,404 | ||||||||||||
Balance, September 30, 2013 | $ | 200,681 | $ | — | $ | 20 | $ | 200,701 | ||||||||
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Fair Value Measurements | ' | |||||||||||||||
FAIR VALUE MEASUREMENTS | ||||||||||||||||
We have adopted the authoritative accounting guidance for fair value measurements, which does not determine or affect the circumstances under which fair value measurements are used, but defines fair value, expands disclosure requirements around fair value and specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company's market assumptions. | ||||||||||||||||
These inputs create the following fair value hierarchy: | ||||||||||||||||
Level 1: Quoted prices for identical instruments in active markets. | ||||||||||||||||
Level 2: Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. | ||||||||||||||||
Level 3: Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. | ||||||||||||||||
As required by the guidance for fair value measurements, financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Thus, assets and liabilities categorized as Level 3 may be measured at fair value using inputs that are observable (Levels 1 and 2) and unobservable (Level 3). Management's assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of assets and liabilities and their placement within the fair value hierarchy levels. | ||||||||||||||||
Balances Measured at Fair Value | ||||||||||||||||
The following tables show the fair values of certain of our financial instruments. | ||||||||||||||||
September 30, 2014 | ||||||||||||||||
(In thousands) | Balance | Level 1 | Level 2 | Level 3 | ||||||||||||
Assets | ||||||||||||||||
Cash and cash equivalents | $ | 120,910 | $ | 120,910 | $ | — | $ | — | ||||||||
Restricted cash | 25,163 | 25,163 | — | — | ||||||||||||
Investment available for sale | 18,153 | — | — | 18,153 | ||||||||||||
Liabilities | ||||||||||||||||
Merger earnout | $ | 225 | $ | — | $ | — | $ | 225 | ||||||||
Contingent payments | 4,258 | — | — | 4,258 | ||||||||||||
December 31, 2013 | ||||||||||||||||
(In thousands) | Balance | Level 1 | Level 2 | Level 3 | ||||||||||||
Assets | ||||||||||||||||
Cash and cash equivalents | $ | 177,838 | $ | 177,838 | $ | — | $ | — | ||||||||
Restricted cash | 20,686 | 20,686 | — | — | ||||||||||||
CRDA deposits | 4,613 | — | — | 4,613 | ||||||||||||
Investment available for sale | 17,128 | — | — | 17,128 | ||||||||||||
Liabilities | ||||||||||||||||
Merger earnout | $ | 1,125 | $ | — | $ | — | $ | 1,125 | ||||||||
Contingent payments | 4,343 | — | — | 4,343 | ||||||||||||
Cash and Cash Equivalents and Restricted Cash | ||||||||||||||||
The fair value of our cash and cash equivalents and restricted cash, classified in the fair value hierarchy as Level 1, are based on statements received from our banks at September 30, 2014 and December 31, 2013. | ||||||||||||||||
CRDA Deposits | ||||||||||||||||
The fair value of Borgata's CRDA deposits, classified in the fair value hierarchy as Level 3, is based on estimates of the realizable value applied to the balances on statements received from the CRDA at December 31, 2013. | ||||||||||||||||
Investment Available for Sale | ||||||||||||||||
We have an investment in a single municipal bond issuance of $21.7 million aggregate principal amount of 7.5% Urban Renewal Tax Increment Revenue Bonds, Taxable Series 2007 that is classified as available for sale. We are the only holder of this instrument and there is no quoted market price for this instrument. As such, the fair value of this investment is classified as Level 3 in the fair value hierarchy. The estimate of the fair value of such investment was determined using a combination of current market rates and estimates of market conditions for instruments with similar terms, maturities, and degrees of risk and a discounted cash flows analysis as of September 30, 2014 and December 31, 2013. Unrealized gains and losses on this instrument resulting from changes in the fair value of the instrument are not charged to earnings, but rather are recorded as other comprehensive income (loss) in the stockholders' equity section of the condensed consolidated balance sheets. At September 30, 2014 and December 31, 2013, $0.4 million and $0.3 million, respectively, of the carrying value of the investment available for sale is included as a current asset in prepaid expenses and other current assets, and at September 30, 2014 and December 31, 2013, $17.8 million and $16.8 million, respectively, is included in other assets on the condensed consolidated balance sheets. The discount associated with this investment of $3.4 million and $3.5 million as of September 30, 2014 and December 31, 2013, respectively, is netted with the investment balance and is being accreted over the life of the investment using the effective interest method. The accretion of such discount is included in interest income on the condensed consolidated statements of operations. | ||||||||||||||||
Merger Earnout | ||||||||||||||||
Under the terms of the Merger Agreement, Boyd Acquisition II, LLC, an indirect wholly owned subsidiary of Boyd, is obligated to make an additional payment to Peninsula Gaming Partners, LLC, in 2016 if Kansas Star Casino's ("KSC") EBITDA, as defined in the Merger Agreement, for 2015 exceeds $105.0 million. The additional payment would be equal to 7.5 times the amount by which KSC's 2015 EBITDA exceeds $105.0 million. The actual payout will be determined based on actual EBITDA of KSC for calendar year 2015, and payments are not limited by a maximum value. If the actual 2015 EBITDA of KSC is less than the target, the Company is not required to make any additional consideration payment. The value of this contingency was calculated using a probability-based model. This model requires estimates of forecasted 2015 EBITDA and of probability of exceeding the threshold at which a payment would be made. We formed our valuation assumptions using historical experience in the gaming industry and observable market conditions. The assumptions will be reviewed periodically and any change in the value of the obligation will be included in the consolidated statements of operations. At September 30, 2014 and December 31, 2013, there were outstanding liabilities of $0.2 million and $1.1 million, respectively, related to the merger earnout which are included in other liabilities on the condensed consolidated balance sheets. | ||||||||||||||||
Contingent Payments | ||||||||||||||||
In connection with the development of the Kansas Star Casino, KSC agreed to pay a former casino project developer and option holder 1% of KSC's EBITDA each month for a period of ten years commencing December 20, 2011. The liability was initially recorded upon consummation of the Merger, at the estimated fair value of the contingent land purchase price using a discounted cash flows approach. At both September 30, 2014 and December 31, 2013, there was a current liability of $0.9 million related to this agreement, which was recorded in accrued liabilities on the respective condensed consolidated balance sheets, and long-term obligations of $3.4 million, which were included in other liabilities on the respective condensed consolidated balance sheets. | ||||||||||||||||
The following table summarizes the changes in fair value of the Company's Level 3 assets and liabilities: | ||||||||||||||||
Three Months Ended September 30, 2014 | ||||||||||||||||
Assets | Liabilities | |||||||||||||||
(In thousands) | Investment | Merger | Contingent | |||||||||||||
Available for | Earnout | Payments | ||||||||||||||
Sale | ||||||||||||||||
Balance at July 1, 2014 | $ | 17,443 | $ | (450 | ) | $ | (4,278 | ) | ||||||||
Deposits | — | — | — | |||||||||||||
Total gains (losses) (realized or unrealized): | ||||||||||||||||
Included in earnings | 29 | 225 | (181 | ) | ||||||||||||
Included in other comprehensive income (loss) | 681 | — | — | |||||||||||||
Transfers in or out of Level 3 | — | — | — | |||||||||||||
Purchases, sales, issuances and settlements: | ||||||||||||||||
Settlements | — | — | 201 | |||||||||||||
Ending balance at September 30, 2014 | $ | 18,153 | $ | (225 | ) | $ | (4,258 | ) | ||||||||
Gains (losses) included in earnings attributable to the change in unrealized gains relating to assets and liabilities still held at the reporting date: | ||||||||||||||||
Included in interest income | $ | 29 | $ | — | $ | — | ||||||||||
Included in interest expense | — | — | (181 | ) | ||||||||||||
Three Months Ended September 30, 2013 | ||||||||||||||||
Assets | Liabilities | |||||||||||||||
(In thousands) | Investment | CRDA | Merger | Contingent | ||||||||||||
Available for | Deposits | Earnout | Payments | |||||||||||||
Sale | ||||||||||||||||
Balance at July 1, 2013 | $ | 17,742 | $ | 25,114 | $ | (8,983 | ) | $ | (4,470 | ) | ||||||
Deposits | — | 1,738 | — | — | ||||||||||||
Total gains (losses) (realized or unrealized): | ||||||||||||||||
Included in earnings | 28 | (581 | ) | — | (191 | ) | ||||||||||
Included in other comprehensive income (loss) | 167 | — | — | — | ||||||||||||
Transfers in or out of Level 3 | — | — | — | — | ||||||||||||
Purchases, sales, issuances and settlements: | ||||||||||||||||
Settlements | — | (22,545 | ) | — | 214 | |||||||||||
Ending balance at September 30, 2013 | $ | 17,937 | $ | 3,726 | $ | (8,983 | ) | $ | (4,447 | ) | ||||||
Gains (losses) included in earnings attributable to the change in unrealized gains relating to assets and liabilities still held at the reporting date: | ||||||||||||||||
Included in interest income | $ | 28 | $ | — | $ | — | $ | — | ||||||||
Included in interest expense | — | — | — | (191 | ) | |||||||||||
Nine Months Ended September 30, 2014 | ||||||||||||||||
Assets | Liabilities | |||||||||||||||
(In thousands) | Investment | Merger | Contingent | |||||||||||||
Available for | Earnout | Payments | ||||||||||||||
Sale | ||||||||||||||||
Balance at January 1, 2014 | $ | 17,128 | $ | (1,125 | ) | $ | (4,343 | ) | ||||||||
Deposits | — | — | — | |||||||||||||
Total gains (losses) (realized or unrealized): | ||||||||||||||||
Included in earnings | 89 | 900 | (549 | ) | ||||||||||||
Included in other comprehensive income (loss) | 1,291 | — | — | |||||||||||||
Transfers in or out of Level 3 | — | — | — | |||||||||||||
Purchases, sales, issuances and settlements: | ||||||||||||||||
Settlements | (355 | ) | — | 634 | ||||||||||||
Ending balance at September 30, 2014 | $ | 18,153 | $ | (225 | ) | $ | (4,258 | ) | ||||||||
Gains (losses) included in earnings attributable to the change in unrealized gains relating to assets and liabilities still held at the reporting date: | ||||||||||||||||
Included in interest income | $ | 89 | $ | — | $ | — | ||||||||||
Included in interest expense | — | — | (549 | ) | ||||||||||||
Nine Months Ended September 30, 2013 | ||||||||||||||||
Assets | Liabilities | |||||||||||||||
(In thousands) | Investment | CRDA | Merger | Contingent | ||||||||||||
Available for | Deposits | Earnout | Payments | |||||||||||||
Sale | ||||||||||||||||
Balance at January 1, 2013 | $ | 17,907 | $ | 28,464 | $ | (9,800 | ) | $ | (4,563 | ) | ||||||
Deposits | — | 5,145 | — | — | ||||||||||||
Total gains (losses) (realized or unrealized): | ||||||||||||||||
Included in earnings | 78 | (7,338 | ) | 817 | (578 | ) | ||||||||||
Included in other comprehensive income (loss) | 282 | — | — | — | ||||||||||||
Transfers in or out of Level 3 | — | — | — | — | ||||||||||||
Purchases, sales, issuances and settlements: | ||||||||||||||||
Settlements | (330 | ) | (22,545 | ) | — | 694 | ||||||||||
Ending balance at September 30, 2013 | $ | 17,937 | $ | 3,726 | $ | (8,983 | ) | $ | (4,447 | ) | ||||||
Gains (losses) included in earnings attributable to the change in unrealized gains relating to assets and liabilities still held at the reporting date: | ||||||||||||||||
Included in interest income | $ | 78 | $ | — | $ | — | $ | 167 | ||||||||
Included in interest expense | — | — | — | (578 | ) | |||||||||||
Included in non-operating income | — | — | 817 | — | ||||||||||||
The table below summarizes the significant unobservable inputs used in calculating fair value for our Level 3 assets and liabilities: | ||||||||||||||||
Valuation | Unobservable | Rate | ||||||||||||||
Technique | Input | |||||||||||||||
Investment available for sale | Discounted cash flow | Discount rate | 10.2 | % | ||||||||||||
Merger earnout | Probability-based model | Estimated probability | 2 | % | ||||||||||||
Contingent payments | Discounted cash flow | Discount rate | 18.5 | % | ||||||||||||
Balances Disclosed at Fair Value | ||||||||||||||||
The following tables provide the fair value measurement information about our obligation under minimum assessment agreements and other financial instruments: | ||||||||||||||||
September 30, 2014 | ||||||||||||||||
(In thousands) | Outstanding Face Amount | Carrying Value | Estimated Fair Value | Fair Value Hierarchy | ||||||||||||
Liabilities | ||||||||||||||||
Obligation under assessment arrangements | $ | 37,094 | $ | 28,788 | $ | 28,942 | Level 3 | |||||||||
Other financial instruments | 300 | 262 | 262 | Level 3 | ||||||||||||
December 31, 2013 | ||||||||||||||||
(In thousands) | Outstanding Face Amount | Carrying Value | Estimated Fair Value | Fair Value Hierarchy | ||||||||||||
Liabilities | ||||||||||||||||
Obligation under assessment arrangements | $ | 37,783 | $ | 28,980 | $ | 27,608 | Level 3 | |||||||||
Other financial instruments | 400 | 343 | 343 | Level 3 | ||||||||||||
The following tables provide the fair value measurement information about our long-term debt: | ||||||||||||||||
September 30, 2014 | ||||||||||||||||
(In thousands) | Outstanding Face Amount | Carrying Value | Estimated Fair Value | Fair Value Hierarchy | ||||||||||||
Boyd Debt: | ||||||||||||||||
Boyd Gaming Debt: | ||||||||||||||||
Bank credit facility | $ | 1,374,325 | $ | 1,370,575 | $ | 1,384,027 | Level 2 | |||||||||
9.125% Senior Notes due 2018 | 500,000 | 494,845 | 527,500 | Level 1 | ||||||||||||
9.00% Senior Notes due 2020 | 350,000 | 350,000 | 378,455 | Level 1 | ||||||||||||
HoldCo Note | 147,320 | 134,092 | 139,954 | Level 3 | ||||||||||||
2,371,645 | 2,349,512 | 2,429,936 | ||||||||||||||
Peninsula Segment Debt: | ||||||||||||||||
Bank credit facility | 760,900 | 760,900 | 773,068 | Level 2 | ||||||||||||
8.375% Senior Notes due 2018 | 350,000 | 350,000 | 367,500 | Level 2 | ||||||||||||
Other | 6 | 6 | 6 | Level 3 | ||||||||||||
1,110,906 | 1,110,906 | 1,140,574 | ||||||||||||||
Total debt | $ | 3,482,551 | $ | 3,460,418 | $ | 3,570,510 | ||||||||||
December 31, 2013 | ||||||||||||||||
(In thousands) | Outstanding Face Amount | Carrying Value | Estimated Fair Value | Fair Value Hierarchy | ||||||||||||
Boyd Debt: | ||||||||||||||||
Boyd Gaming Debt: | ||||||||||||||||
Bank credit facility | $ | 1,467,725 | $ | 1,463,492 | $ | 1,469,969 | Level 2 | |||||||||
9.125% Senior Notes due 2018 | 500,000 | 493,918 | 543,750 | Level 1 | ||||||||||||
9.00% Senior Notes due 2020 | 350,000 | 350,000 | 383,250 | Level 1 | ||||||||||||
HoldCo Note | 143,030 | 125,659 | 125,659 | Level 3 | ||||||||||||
2,460,755 | 2,433,069 | 2,522,628 | ||||||||||||||
Peninsula Segment Debt: | ||||||||||||||||
Bank credit facility | 802,150 | 802,150 | 814,941 | Level 2 | ||||||||||||
8.375% Senior Notes due 2018 | 350,000 | 350,000 | 381,500 | Level 2 | ||||||||||||
Other | 12 | 12 | 12 | Level 3 | ||||||||||||
1,152,162 | 1,152,162 | 1,196,453 | ||||||||||||||
Total Boyd Debt | 3,612,917 | 3,585,231 | 3,719,081 | |||||||||||||
Borgata Debt: | ||||||||||||||||
Bank credit facility | 39,900 | 39,900 | 39,900 | Level 2 | ||||||||||||
Incremental term loan | 380,000 | 376,234 | 381,900 | Level 2 | ||||||||||||
9.875% senior secured notes due 2018 | 393,500 | 385,126 | 425,472 | Level 1 | ||||||||||||
Total Borgata Debt | 813,400 | 801,260 | 847,272 | |||||||||||||
Total debt | $ | 4,426,317 | $ | 4,386,491 | $ | 4,566,353 | ||||||||||
The estimated fair value of the Boyd Gaming Credit Facility is based on a relative value analysis performed on or about September 30, 2014 and December 31, 2013. The estimated fair value of the Peninsula Credit Facility is based on a relative value analysis performed on or about September 30, 2014 and December 31, 2013. The estimated fair values of our senior notes and Peninsula's senior notes are based on quoted market prices as of September 30, 2014 and December 31, 2013. Debt included in the "Other" category is fixed-rate debt that is not traded and does not have an observable market input; therefore, we have estimated its fair value based on a discounted cash flow approach, after giving consideration to the changes in market rates of interest, creditworthiness of both parties, and credit spreads. | ||||||||||||||||
Due to the deconsolidation of Borgata on September 30, 2014, (see Note 4), Borgata’s debt is not included in our September 30, 2014, balance sheet; therefore, estimated fair value information for Borgata’s debt is not presented as of that date. The estimated fair value of the Borgata Credit Facility at December 31, 2013 approximates its carrying value due to the short-term nature and variable repricing of the underlying Eurodollar loans comprising the Borgata Credit Facility. The estimated fair value of the Borgata incremental term loan is based on a relative value analysis performed on or about December 31, 2013. The estimated fair values of Borgata's senior secured notes as of December 31, 2013 are based on quoted market prices. | ||||||||||||||||
There were no transfers between Level 1, Level 2 and Level 3 measurements during the nine months ended September 30, 2014 or 2013. |
Segment_Information
Segment Information | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Segment Information | ' | |||||||||||||||
SEGMENT INFORMATION | ||||||||||||||||
We have aggregated certain of our properties in order to present five Reportable Segments: (i) Las Vegas Locals; (ii) Downtown Las Vegas; (iii) Midwest and South; (iv) Peninsula; and (v) Borgata. The table below lists the classification of each of our properties. | ||||||||||||||||
Las Vegas Locals | ||||||||||||||||
Gold Coast Hotel and Casino | Las Vegas, Nevada | |||||||||||||||
The Orleans Hotel and Casino | Las Vegas, Nevada | |||||||||||||||
Sam's Town Hotel and Gambling Hall | Las Vegas, Nevada | |||||||||||||||
Suncoast Hotel and Casino | Las Vegas, Nevada | |||||||||||||||
Eldorado Casino | Henderson, Nevada | |||||||||||||||
Jokers Wild Casino | Henderson, Nevada | |||||||||||||||
Downtown Las Vegas | ||||||||||||||||
California Hotel and Casino | Las Vegas, Nevada | |||||||||||||||
Fremont Hotel and Casino | Las Vegas, Nevada | |||||||||||||||
Main Street Station Casino, Brewery and Hotel | Las Vegas, Nevada | |||||||||||||||
Midwest and South | ||||||||||||||||
Sam's Town Hotel and Gambling Hall | Tunica, Mississippi | |||||||||||||||
IP Casino Resort Spa | Biloxi, Mississippi | |||||||||||||||
Par-A-Dice Hotel Casino | East Peoria, Illinois | |||||||||||||||
Blue Chip Casino, Hotel & Spa | Michigan City, Indiana | |||||||||||||||
Treasure Chest Casino | Kenner, Louisiana | |||||||||||||||
Delta Downs Racetrack Casino & Hotel | Vinton, Louisiana | |||||||||||||||
Sam's Town Hotel and Casino | Shreveport, Louisiana | |||||||||||||||
Peninsula | ||||||||||||||||
Diamond Jo Dubuque | Dubuque, Iowa | |||||||||||||||
Diamond Jo Worth | Northwood, Iowa | |||||||||||||||
Evangeline Downs Racetrack and Casino | Opelousas, Louisiana | |||||||||||||||
Amelia Belle Casino | Amelia, Louisiana | |||||||||||||||
Kansas Star Casino | Mulvane, Kansas | |||||||||||||||
Borgata | ||||||||||||||||
Borgata Hotel Casino & Spa | Atlantic City, New Jersey | |||||||||||||||
Results of Operations - Total Reportable Segment Net Revenues and Adjusted EBITDA | ||||||||||||||||
We evaluate each of our wholly owned property's profitability based upon Property EBITDA, which represents each property's earnings before interest expense, income taxes, depreciation and amortization, preopening expenses, other operating charges, net, share-based compensation expense, deferred rent, change in value of derivative instruments, and gain/loss on early retirements of debt, as applicable. Total Reportable Segment Adjusted EBITDA is the aggregate sum of the Property EBITDA for each of the properties included in our Las Vegas Locals, Downtown Las Vegas, and Midwest and South, and Peninsula segments, and also includes Borgata's operating income before net amortization, preopening and other items. Results for Downtown Las Vegas include the results of our Hawaii-based travel agency and captive insurance company. EBITDA is a commonly used measure of performance in our industry that we believe, when considered with measures calculated in accordance with GAAP, provides our investors a more complete understanding of our operating results before the impact of investing and financing transactions and income taxes and facilitates comparisons between us and our competitors. Management has historically adjusted EBITDA when evaluating operating performance because we believe that the inclusion or exclusion of certain recurring and non-recurring items is necessary to provide the most accurate measure of our core operating results and as a means to evaluate period-to-period results. | ||||||||||||||||
We reclassify the reporting of corporate expense on the accompanying table in order to exclude it from our subtotal for Total Reportable Segment Adjusted EBITDA and include it as part of total other operating costs and expenses. Furthermore, corporate expense excludes its portion of share-based compensation expense. Corporate expense represents unallocated payroll, professional fees, aircraft expenses and various other expenses not directly related to our casino and hotel operations. | ||||||||||||||||
The following table sets forth, for the periods indicated, certain operating data for our Reportable Segments, and reconciles Total Reportable Segment Adjusted EBITDA to operating income, as reported in our accompanying condensed consolidated statements of operations: | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
(In thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||
Net Revenues | ||||||||||||||||
Las Vegas Locals | $ | 141,207 | $ | 140,291 | $ | 440,920 | $ | 442,808 | ||||||||
Downtown Las Vegas | 53,379 | 52,674 | 164,664 | 162,884 | ||||||||||||
Midwest and South | 210,732 | 214,831 | 631,472 | 668,221 | ||||||||||||
Peninsula | 123,579 | 130,722 | 373,606 | 400,416 | ||||||||||||
Borgata | 209,946 | 200,051 | 559,064 | 538,572 | ||||||||||||
Total Reportable Segment Net Revenues | $ | 738,843 | $ | 738,569 | $ | 2,169,726 | $ | 2,212,901 | ||||||||
Reportable Segment Adjusted EBITDA | ||||||||||||||||
Las Vegas Locals | $ | 28,052 | $ | 26,350 | $ | 104,640 | $ | 104,278 | ||||||||
Downtown Las Vegas | 6,315 | 5,534 | 24,193 | 21,942 | ||||||||||||
Midwest and South | 43,593 | 41,936 | 129,890 | 140,243 | ||||||||||||
Peninsula | 42,875 | 45,274 | 132,918 | 144,309 | ||||||||||||
Borgata | 56,873 | 46,592 | 119,917 | 102,844 | ||||||||||||
Total Reportable Segment Adjusted EBITDA | 177,708 | 165,686 | 511,558 | 513,616 | ||||||||||||
Other operating costs and expenses | ||||||||||||||||
Corporate expense | 13,848 | 10,409 | 42,643 | 34,675 | ||||||||||||
Deferred rent | 903 | 956 | 2,714 | 2,872 | ||||||||||||
Depreciation and amortization | 66,168 | 69,002 | 198,245 | 209,358 | ||||||||||||
Preopening expense | 1,262 | 1,675 | 3,836 | 4,829 | ||||||||||||
Share-based compensation expense | 1,526 | 2,048 | 11,431 | 9,033 | ||||||||||||
Impairments of assets | 18,279 | 1,250 | 20,205 | 6,282 | ||||||||||||
Asset transaction costs | 3,064 | (1,362 | ) | 5,078 | 2,265 | |||||||||||
Other operating charges and credits, net | (1,116 | ) | 3,386 | (1,863 | ) | 5,181 | ||||||||||
Total other operating costs and expenses | 103,934 | 87,364 | 282,289 | 274,495 | ||||||||||||
Operating income | $ | 73,774 | $ | 78,322 | $ | 229,269 | $ | 239,121 | ||||||||
Total Reportable Segment Assets | ||||||||||||||||
The Company's assets by Reportable Segment consisted of the following amounts: | ||||||||||||||||
September 30, | December 31, | |||||||||||||||
(In thousands) | 2014 | 2013 | ||||||||||||||
Assets | ||||||||||||||||
Las Vegas Locals | $ | 1,162,456 | $ | 1,190,234 | ||||||||||||
Downtown Las Vegas | 124,980 | 125,618 | ||||||||||||||
Midwest and South | 1,330,648 | 1,349,155 | ||||||||||||||
Peninsula | 1,473,592 | 1,511,606 | ||||||||||||||
Borgata | — | 1,334,714 | ||||||||||||||
Total Reportable Segment Assets | 4,091,676 | 5,511,327 | ||||||||||||||
Corporate | 417,905 | 230,267 | ||||||||||||||
Other | — | 137 | ||||||||||||||
Total Assets | $ | 4,509,581 | $ | 5,741,731 | ||||||||||||
Condensed_Consolidating_Financ
Condensed Consolidating Financial Information | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |||||||||||||||||||||||
Condensed Consolidating Financial Information | ' | |||||||||||||||||||||||
CONDENSED CONSOLIDATING FINANCIAL INFORMATION | ||||||||||||||||||||||||
Separate condensed consolidating financial information for our subsidiary guarantors and non-guarantors of our 9.125% Senior Notes due December 2018 and 9.00% Senior Notes due July 2020 is presented below. The notes are fully and unconditionally guaranteed, on a joint and several basis, by certain of our current and future domestic restricted subsidiaries, all of which are 100% owned by us. The non-guarantors primarily represent special purpose entities, tax holding companies, our less significant operating subsidiaries and our less than wholly owned subsidiaries. | ||||||||||||||||||||||||
Condensed Consolidating Balance Sheets | ||||||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||||||
Non- | Non- | |||||||||||||||||||||||
Guarantor | Guarantor | |||||||||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||||||
Guarantor | (100% | (Not 100% | ||||||||||||||||||||||
(In thousands) | Parent | Subsidiaries | Owned) | Owned) | Eliminations | Consolidated | ||||||||||||||||||
Assets | ||||||||||||||||||||||||
Cash and cash equivalents | $ | 2 | $ | 91,028 | $ | 29,661 | $ | 219 | $ | — | $ | 120,910 | ||||||||||||
Other current assets | 7,391 | 73,633 | 30,061 | — | (1,544 | ) | 109,541 | |||||||||||||||||
Property and equipment, net | 56,617 | 1,773,400 | 448,837 | — | — | 2,278,854 | ||||||||||||||||||
Investments in subsidiaries | 3,340,711 | 177,048 | — | — | (3,296,359 | ) | 221,400 | |||||||||||||||||
Intercompany receivable | — | 1,644,006 | — | — | (1,644,006 | ) | — | |||||||||||||||||
Other assets, net | 37,872 | 6,638 | 66,146 | — | — | 110,656 | ||||||||||||||||||
Intangible assets, net | — | 463,910 | 519,000 | — | — | 982,910 | ||||||||||||||||||
Goodwill, net | — | 212,794 | 472,516 | — | — | 685,310 | ||||||||||||||||||
Total assets | $ | 3,442,593 | $ | 4,442,457 | $ | 1,566,221 | $ | 219 | $ | (4,941,909 | ) | $ | 4,509,581 | |||||||||||
Liabilities and Stockholders' | ||||||||||||||||||||||||
Equity | ||||||||||||||||||||||||
Current maturities of long-term debt | $ | 21,500 | $ | — | $ | 6,193 | $ | — | $ | — | $ | 27,693 | ||||||||||||
Other current liabilities | 52,748 | 190,007 | 80,349 | — | (510 | ) | 322,594 | |||||||||||||||||
Accumulated losses of subsidiaries in excess of investment | — | — | 228 | — | (228 | ) | — | |||||||||||||||||
Intercompany payable | 672,643 | — | 971,726 | 363 | (1,644,732 | ) | — | |||||||||||||||||
Long-term debt, net of current | 2,193,920 | — | 1,238,805 | — | — | 3,432,725 | ||||||||||||||||||
maturities | ||||||||||||||||||||||||
Other long-term liabilities | 39,225 | 180,754 | 43,983 | — | — | 263,962 | ||||||||||||||||||
Common stock | 1,084 | 31,124 | (27 | ) | — | (31,097 | ) | 1,084 | ||||||||||||||||
Additional paid-in capital | 914,391 | 2,717,796 | 248,203 | 4,250 | (2,970,249 | ) | 914,391 | |||||||||||||||||
Retained earnings (deficit) | (452,692 | ) | 1,323,001 | (1,023,014 | ) | (4,394 | ) | (295,593 | ) | (452,692 | ) | |||||||||||||
Accumulated other | (226 | ) | (225 | ) | (225 | ) | — | 450 | (226 | ) | ||||||||||||||
comprehensive loss, net | ||||||||||||||||||||||||
Total Boyd Gaming Corporation | 462,557 | 4,071,696 | (775,063 | ) | (144 | ) | (3,296,489 | ) | 462,557 | |||||||||||||||
stockholders' equity (deficit) | ||||||||||||||||||||||||
Noncontrolling interest | — | — | — | — | 50 | 50 | ||||||||||||||||||
Total stockholders' equity (deficit) | 462,557 | 4,071,696 | (775,063 | ) | (144 | ) | (3,296,439 | ) | 462,607 | |||||||||||||||
Total liabilities and stockholders' | $ | 3,442,593 | $ | 4,442,457 | $ | 1,566,221 | $ | 219 | $ | (4,941,909 | ) | $ | 4,509,581 | |||||||||||
equity | ||||||||||||||||||||||||
Condensed Consolidating Balance Sheets - continued | ||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Non- | Non- | |||||||||||||||||||||||
Guarantor | Guarantor | |||||||||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||||||
Guarantor | (100% | (Not 100% | ||||||||||||||||||||||
(In thousands) | Parent | Subsidiaries | Owned) | Owned) | Eliminations | Consolidated | ||||||||||||||||||
Assets | ||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | 106,445 | $ | 33,766 | $ | 37,627 | $ | — | $ | 177,838 | ||||||||||||
Other current assets | 13,772 | 67,991 | 28,639 | 48,414 | (1,974 | ) | 156,842 | |||||||||||||||||
Property and equipment, net | 69,309 | 1,808,450 | 460,789 | 1,167,065 | — | 3,505,613 | ||||||||||||||||||
Investments in subsidiaries | 3,265,579 | 129,692 | — | — | (3,395,271 | ) | — | |||||||||||||||||
Intercompany receivable | — | 1,474,412 | — | — | (1,474,412 | ) | — | |||||||||||||||||
Other assets, net | 43,470 | 8,105 | 72,185 | 21,708 | — | 145,468 | ||||||||||||||||||
Intangible assets, net | — | 465,259 | 545,401 | 60,000 | — | 1,070,660 | ||||||||||||||||||
Goodwill, net | — | 212,794 | 472,516 | — | — | 685,310 | ||||||||||||||||||
Total assets | $ | 3,392,130 | $ | 4,273,148 | $ | 1,613,296 | $ | 1,334,814 | $ | (4,871,657 | ) | $ | 5,741,731 | |||||||||||
Liabilities and Stockholders' | ||||||||||||||||||||||||
Equity | ||||||||||||||||||||||||
Current maturities of long-term debt | $ | 21,500 | $ | — | $ | 8,259 | $ | 3,800 | $ | — | $ | 33,559 | ||||||||||||
Other current liabilities | 57,156 | 186,539 | 70,678 | 103,833 | 2,098 | 420,304 | ||||||||||||||||||
Accumulated losses of subsidiaries in excess of investment | — | — | 2,026 | — | (2,026 | ) | — | |||||||||||||||||
Intercompany payable | 512,358 | — | 966,128 | 265 | (1,478,751 | ) | — | |||||||||||||||||
Long-term debt, net of current maturities | 2,285,910 | — | 1,269,562 | 797,460 | — | 4,352,932 | ||||||||||||||||||
Other long-term liabilities | 45,219 | 178,764 | 33,297 | 27,219 | — | 284,499 | ||||||||||||||||||
Common stock | 1,082 | 31,124 | (27 | ) | — | (31,097 | ) | 1,082 | ||||||||||||||||
Additional paid-in capital | 902,496 | 2,736,895 | 248,083 | 480,833 | (3,465,811 | ) | 902,496 | |||||||||||||||||
Retained earnings (deficit) | (432,074 | ) | 1,139,826 | (983,193 | ) | (78,596 | ) | (78,037 | ) | (432,074 | ) | |||||||||||||
Accumulated other comprehensive loss, net | (1,517 | ) | — | (1,517 | ) | — | 1,517 | (1,517 | ) | |||||||||||||||
Total Boyd Gaming Corporation stockholders' equity (deficit) | 469,987 | 3,907,845 | (736,654 | ) | 402,237 | (3,573,428 | ) | 469,987 | ||||||||||||||||
Noncontrolling interest | — | — | — | — | 180,450 | 180,450 | ||||||||||||||||||
Total stockholders' equity (deficit) | 469,987 | 3,907,845 | (736,654 | ) | 402,237 | (3,392,978 | ) | 650,437 | ||||||||||||||||
Total liabilities and stockholders' equity | $ | 3,392,130 | $ | 4,273,148 | $ | 1,613,296 | $ | 1,334,814 | $ | (4,871,657 | ) | $ | 5,741,731 | |||||||||||
Condensed Consolidating Statements of Operations | ||||||||||||||||||||||||
Three Months Ended September 30, 2014 | ||||||||||||||||||||||||
Non- | Non- | |||||||||||||||||||||||
Guarantor | Guarantor | |||||||||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||||||
Guarantor | (100% | (Not 100% | ||||||||||||||||||||||
(In thousands) | Parent | Subsidiaries | Owned) | Owned) | Eliminations | Consolidated | ||||||||||||||||||
Net revenues | $ | 28,690 | $ | 398,573 | $ | 135,380 | $ | 209,946 | $ | (33,746 | ) | $ | 738,843 | |||||||||||
Costs and expenses | ||||||||||||||||||||||||
Operating | 450 | 220,640 | 76,790 | 105,982 | — | 403,862 | ||||||||||||||||||
Selling, general and | 11,665 | 55,703 | 14,164 | 31,973 | (69 | ) | 113,436 | |||||||||||||||||
administrative | ||||||||||||||||||||||||
Maintenance and utilities | — | 25,967 | 3,967 | 15,116 | — | 45,050 | ||||||||||||||||||
Depreciation and amortization | 1,246 | 31,475 | 19,309 | 14,138 | — | 66,168 | ||||||||||||||||||
Corporate expense | 14,060 | 57 | 947 | — | — | 15,064 | ||||||||||||||||||
Preopening expenses | 2 | — | 1,245 | 15 | — | 1,262 | ||||||||||||||||||
Impairments of assets | — | 12,098 | 6,181 | — | — | 18,279 | ||||||||||||||||||
Asset transactions costs | (1 | ) | 1,852 | 838 | 375 | — | 3,064 | |||||||||||||||||
Other operating items, net | 592 | — | 1 | (1,709 | ) | — | (1,116 | ) | ||||||||||||||||
Intercompany expenses | 301 | 28,398 | 4,978 | — | (33,677 | ) | — | |||||||||||||||||
Total costs and expenses | 28,315 | 376,190 | 128,420 | 165,890 | (33,746 | ) | 665,069 | |||||||||||||||||
Equity in earnings of subsidiaries | 18,973 | 12 | (15 | ) | — | (18,970 | ) | — | ||||||||||||||||
Operating income (loss) | 19,348 | 22,395 | 6,945 | 44,056 | (18,970 | ) | 73,774 | |||||||||||||||||
Other expense (income) | ||||||||||||||||||||||||
Interest expense, net | 33,230 | 1,254 | 22,661 | 17,809 | — | 74,954 | ||||||||||||||||||
Loss on early extinguishments of debt | — | — | 71 | — | — | 71 | ||||||||||||||||||
Other, net | — | — | 116 | — | — | 116 | ||||||||||||||||||
Total other expense, net | 33,230 | 1,254 | 22,848 | 17,809 | — | 75,141 | ||||||||||||||||||
Income (loss) before income taxes | (13,882 | ) | 21,141 | (15,903 | ) | 26,247 | (18,970 | ) | (1,367 | ) | ||||||||||||||
Income taxes benefit (expense) | (1,223 | ) | 5,829 | (3,858 | ) | (2,709 | ) | — | (1,961 | ) | ||||||||||||||
Net income (loss) | (15,105 | ) | 26,970 | (19,761 | ) | 23,538 | (18,970 | ) | (3,328 | ) | ||||||||||||||
Net loss attributable to | — | — | — | — | (11,777 | ) | (11,777 | ) | ||||||||||||||||
noncontrolling interest | ||||||||||||||||||||||||
Net income (loss) attributable to | $ | (15,105 | ) | $ | 26,970 | $ | (19,761 | ) | $ | 23,538 | $ | (30,747 | ) | $ | (15,105 | ) | ||||||||
controlling interest | ||||||||||||||||||||||||
Comprehensive income (loss) | $ | (14,424 | ) | $ | 27,651 | $ | (19,080 | ) | $ | 23,538 | $ | (20,332 | ) | $ | (2,647 | ) | ||||||||
Condensed Consolidating Statements of Operations - continued | ||||||||||||||||||||||||
Three Months Ended September 30, 2013 | ||||||||||||||||||||||||
Non- | Non- | |||||||||||||||||||||||
Guarantor | Guarantor | |||||||||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||||||
Guarantor | (100% | (Not 100% | ||||||||||||||||||||||
(In thousands) | Parent | Subsidiaries | Owned) | Owned) | Eliminations | Consolidated | ||||||||||||||||||
Net revenues | $ | 32,018 | $ | 400,874 | $ | 143,022 | $ | 200,051 | $ | (37,396 | ) | $ | 738,569 | |||||||||||
Costs and expenses | ||||||||||||||||||||||||
Operating | 462 | 223,748 | 80,857 | 100,573 | — | 405,640 | ||||||||||||||||||
Selling, general and | 11,698 | 58,809 | 15,510 | 36,830 | (10 | ) | 122,837 | |||||||||||||||||
administrative | ||||||||||||||||||||||||
Maintenance and utilities | — | 25,639 | 4,040 | 16,056 | — | 45,735 | ||||||||||||||||||
Depreciation and amortization | 1,610 | 30,281 | 22,774 | 14,337 | — | 69,002 | ||||||||||||||||||
Corporate expense | 11,423 | (7 | ) | 668 | — | — | 12,084 | |||||||||||||||||
Preopening expense | (537 | ) | — | 1,883 | 329 | — | 1,675 | |||||||||||||||||
Impairments of assets | — | — | 1,250 | — | — | 1,250 | ||||||||||||||||||
Asset transactions costs | (1,692 | ) | 232 | 299 | (201 | ) | — | (1,362 | ) | |||||||||||||||
Other operating items, net | 134 | 43 | 63 | 3,146 | — | 3,386 | ||||||||||||||||||
Intercompany expenses | 301 | 31,768 | 5,317 | — | (37,386 | ) | — | |||||||||||||||||
Total costs and expenses | 23,399 | 370,513 | 132,661 | 171,070 | (37,396 | ) | 660,247 | |||||||||||||||||
Equity in earnings of subsidiaries | 16,822 | (13,041 | ) | — | — | (3,781 | ) | — | ||||||||||||||||
Operating income (loss) | 25,441 | 17,320 | 10,361 | 28,981 | (3,781 | ) | 78,322 | |||||||||||||||||
Other expense (income) | ||||||||||||||||||||||||
Interest expense, net | 36,936 | 2,270 | 23,104 | 20,282 | — | 82,592 | ||||||||||||||||||
Loss on early extinguishments of debt | 24,605 | — | — | 2,536 | — | 27,141 | ||||||||||||||||||
Other, net | 136 | — | — | — | — | 136 | ||||||||||||||||||
Total other expense, net | 61,677 | 2,270 | 23,104 | 22,818 | — | 109,869 | ||||||||||||||||||
Income (loss) from continuing | (36,236 | ) | 15,050 | (12,743 | ) | 6,163 | (3,781 | ) | (31,547 | ) | ||||||||||||||
operations before income taxes | ||||||||||||||||||||||||
Income taxes benefit (expense) | (1,031 | ) | 1,973 | (3,259 | ) | (731 | ) | — | (3,048 | ) | ||||||||||||||
Income (loss) from continuing | (37,267 | ) | 17,023 | (16,002 | ) | 5,432 | (3,781 | ) | (34,595 | ) | ||||||||||||||
operations, net of tax | ||||||||||||||||||||||||
Income (loss) from discontinued | — | — | — | — | — | — | ||||||||||||||||||
operations, net of tax | ||||||||||||||||||||||||
Net income (loss) | (37,267 | ) | 17,023 | (16,002 | ) | 5,432 | (3,781 | ) | (34,595 | ) | ||||||||||||||
Net income attributable to | — | — | — | — | (2,672 | ) | (2,672 | ) | ||||||||||||||||
noncontrolling interest | ||||||||||||||||||||||||
Net income (loss) attributable to | $ | (37,267 | ) | $ | 17,023 | $ | (16,002 | ) | $ | 5,432 | $ | (6,453 | ) | $ | (37,267 | ) | ||||||||
controlling interest | ||||||||||||||||||||||||
Comprehensive income (loss) | $ | (37,216 | ) | $ | 17,074 | $ | (15,951 | ) | $ | 5,432 | $ | (3,882 | ) | $ | (34,543 | ) | ||||||||
Condensed Consolidating Statements of Operations - continued | ||||||||||||||||||||||||
Nine Months Ended September 30, 2014 | ||||||||||||||||||||||||
Non- | Non- | |||||||||||||||||||||||
Guarantor | Guarantor | |||||||||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||||||
Guarantor | (100% | (Not 100% | ||||||||||||||||||||||
(In thousands) | Parent | Subsidiaries | Owned) | Owned) | Eliminations | Consolidated | ||||||||||||||||||
Net revenues | $ | 87,719 | $ | 1,215,918 | $ | 410,235 | $ | 559,064 | $ | (103,210 | ) | $ | 2,169,726 | |||||||||||
Costs and expenses | ||||||||||||||||||||||||
Operating | 1,350 | 660,321 | 229,844 | 290,005 | — | 1,181,520 | ||||||||||||||||||
Selling, general and | 35,010 | 169,837 | 42,859 | 101,930 | (142 | ) | 349,494 | |||||||||||||||||
administrative | ||||||||||||||||||||||||
Maintenance and utilities | — | 72,855 | 11,271 | 47,211 | — | 131,337 | ||||||||||||||||||
Depreciation and amortization | 4,399 | 94,351 | 57,366 | 42,129 | — | 198,245 | ||||||||||||||||||
Corporate expense | 49,884 | 167 | 2,554 | — | — | 52,605 | ||||||||||||||||||
Preopening expense | 44 | 6 | 3,389 | 397 | — | 3,836 | ||||||||||||||||||
Impairments of assets | 320 | 13,116 | 6,769 | — | — | 20,205 | ||||||||||||||||||
Asset transactions costs | 57 | 3,341 | 1,306 | 374 | — | 5,078 | ||||||||||||||||||
Other operating items, net | 164 | — | 84 | (2,111 | ) | — | (1,863 | ) | ||||||||||||||||
Intercompany expenses | 903 | 86,946 | 15,219 | — | (103,068 | ) | — | |||||||||||||||||
Total costs and expenses | 92,131 | 1,100,940 | 370,661 | 479,935 | (103,210 | ) | 1,940,457 | |||||||||||||||||
Equity in earnings of subsidiaries | 84,689 | (9,127 | ) | (128 | ) | — | (75,434 | ) | — | |||||||||||||||
Operating income (loss) | 80,277 | 105,851 | 39,446 | 79,129 | (75,434 | ) | 229,269 | |||||||||||||||||
Other expense (income) | ||||||||||||||||||||||||
Interest expense, net | 99,045 | 4,542 | 67,893 | 53,327 | — | 224,807 | ||||||||||||||||||
Loss on early extinguishments of debt | — | — | 1,129 | — | — | 1,129 | ||||||||||||||||||
Other, net | — | — | 498 | — | — | 498 | ||||||||||||||||||
Total other expense, net | 99,045 | 4,542 | 69,520 | 53,327 | — | 226,434 | ||||||||||||||||||
Income (loss) before income taxes | (18,768 | ) | 101,309 | (30,074 | ) | 25,802 | (75,434 | ) | 2,835 | |||||||||||||||
Income taxes benefit (expense) | (1,850 | ) | 4,377 | (11,452 | ) | (3,125 | ) | — | (12,050 | ) | ||||||||||||||
Net income (loss) | (20,618 | ) | 105,686 | (41,526 | ) | 22,677 | (75,434 | ) | (9,215 | ) | ||||||||||||||
Net loss attributable to | — | — | — | — | (11,403 | ) | (11,403 | ) | ||||||||||||||||
noncontrolling interest | ||||||||||||||||||||||||
Net income (loss) attributable to | $ | (20,618 | ) | $ | 105,686 | $ | (41,526 | ) | $ | 22,677 | $ | (86,837 | ) | $ | (20,618 | ) | ||||||||
controlling interest | ||||||||||||||||||||||||
Comprehensive income (loss) | $ | (19,327 | ) | $ | 106,977 | $ | (40,235 | ) | $ | 22,677 | $ | (78,016 | ) | $ | (7,924 | ) | ||||||||
Condensed Consolidating Statements of Operations - continued | ||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||
Non- | Non- | |||||||||||||||||||||||
Guarantor | Guarantor | |||||||||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||||||
Guarantor | (100% | (Not 100% | ||||||||||||||||||||||
(In thousands) | Parent | Subsidiaries | Owned) | Owned) | Eliminations | Consolidated | ||||||||||||||||||
Net revenues | $ | 106,132 | $ | 1,253,582 | $ | 437,395 | $ | 540,505 | $ | (124,713 | ) | $ | 2,212,901 | |||||||||||
Costs and expenses | ||||||||||||||||||||||||
Operating | 1,386 | 680,970 | 241,394 | 279,676 | — | 1,203,426 | ||||||||||||||||||
Selling, general and administrative | 35,183 | 179,365 | 48,131 | 111,227 | (41 | ) | 373,865 | |||||||||||||||||
Maintenance and utilities | — | 70,087 | 11,073 | 44,826 | — | 125,986 | ||||||||||||||||||
Depreciation and amortization | 5,008 | 90,992 | 67,910 | 45,448 | — | 209,358 | ||||||||||||||||||
Corporate expense | 39,463 | 87 | 3,038 | — | — | 42,588 | ||||||||||||||||||
Preopening expense | 563 | — | 5,812 | 387 | (1,933 | ) | 4,829 | |||||||||||||||||
Impairments of assets | — | 12,734 | 1,250 | 5,032 | (12,734 | ) | 6,282 | |||||||||||||||||
Asset transactions costs | 1,043 | 300 | 717 | 205 | — | 2,265 | ||||||||||||||||||
Other operating items, net | 412 | 1,396 | 227 | 3,146 | — | 5,181 | ||||||||||||||||||
Intercompany expenses | 912 | 105,158 | 16,669 | — | (122,739 | ) | — | |||||||||||||||||
Total costs and expenses | 83,970 | 1,141,089 | 396,221 | 489,947 | (137,447 | ) | 1,973,780 | |||||||||||||||||
Equity in earnings of subsidiaries | 89,932 | (10,480 | ) | — | — | (79,452 | ) | — | ||||||||||||||||
Operating income (loss) | 112,094 | 102,013 | 41,174 | 50,558 | (66,718 | ) | 239,121 | |||||||||||||||||
Other expense (income) | ||||||||||||||||||||||||
Interest expense, net | 121,004 | 7,630 | 72,264 | 64,276 | — | 265,174 | ||||||||||||||||||
Loss on early extinguishments of debt | 25,001 | — | 1,976 | 2,536 | — | 29,513 | ||||||||||||||||||
Other income | 136 | — | (471 | ) | — | — | (335 | ) | ||||||||||||||||
Total other expense, net | 146,141 | 7,630 | 73,769 | 66,812 | — | 294,352 | ||||||||||||||||||
Income (loss) from continuing | (34,047 | ) | 94,383 | (32,595 | ) | (16,254 | ) | (66,718 | ) | (55,231 | ) | |||||||||||||
operations before income taxes | ||||||||||||||||||||||||
Income taxes benefit (expense) | 1,123 | 5,939 | (4,286 | ) | 702 | — | 3,478 | |||||||||||||||||
Income (loss) from continuing | (32,924 | ) | 100,322 | (36,881 | ) | (15,552 | ) | (66,718 | ) | (51,753 | ) | |||||||||||||
operations, net of tax | ||||||||||||||||||||||||
Income (loss) from discontinued | — | — | 23,524 | — | (12,734 | ) | 10,790 | |||||||||||||||||
operations, net of tax | ||||||||||||||||||||||||
Net income (loss) | (32,924 | ) | 100,322 | (13,357 | ) | (15,552 | ) | (79,452 | ) | (40,963 | ) | |||||||||||||
Net loss attributable to | — | — | — | — | 8,039 | 8,039 | ||||||||||||||||||
noncontrolling interest | ||||||||||||||||||||||||
Net income (loss) attributable to | $ | (32,924 | ) | $ | 100,322 | $ | (13,357 | ) | $ | (15,552 | ) | $ | (71,413 | ) | $ | (32,924 | ) | |||||||
controlling interest | ||||||||||||||||||||||||
Comprehensive income (loss) | $ | (32,757 | ) | $ | 100,489 | $ | (13,190 | ) | $ | (15,552 | ) | $ | (79,786 | ) | $ | (40,796 | ) | |||||||
Condensed Consolidating Statements of Cash Flows | ||||||||||||||||||||||||
Nine Months Ended September 30, 2014 | ||||||||||||||||||||||||
Non- | Non- | |||||||||||||||||||||||
Guarantor | Guarantor | |||||||||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||||||
Guarantor | (100% | (Not 100% | ||||||||||||||||||||||
(In thousands) | Parent | Subsidiaries | Owned) | Owned) | Eliminations | Consolidated | ||||||||||||||||||
Cash flows from operating activities | ||||||||||||||||||||||||
Net cash from operating activities | $ | (43,397 | ) | $ | 188,817 | $ | 54,828 | $ | 35,866 | $ | (3,613 | ) | $ | 232,501 | ||||||||||
Cash flows from investing activities | ||||||||||||||||||||||||
Capital expenditures | (24,090 | ) | (36,269 | ) | (22,635 | ) | (11,623 | ) | — | (94,617 | ) | |||||||||||||
Deconsolidation of Borgata | — | — | — | (26,891 | ) | — | (26,891 | ) | ||||||||||||||||
Net activity with affiliates | — | (169,594 | ) | 5,598 | 98 | 163,898 | — | |||||||||||||||||
Other investing activities | — | 1,629 | (639 | ) | 2,197 | — | 3,187 | |||||||||||||||||
Net cash from investing activities | (24,090 | ) | (204,234 | ) | (17,676 | ) | (36,219 | ) | 163,898 | (118,321 | ) | |||||||||||||
Cash flows from financing activities | ||||||||||||||||||||||||
Borrowings under bank credit facility | 605,000 | — | 242,100 | 410,900 | — | 1,258,000 | ||||||||||||||||||
Payments under bank credit facility | (698,400 | ) | — | (283,350 | ) | (444,900 | ) | — | (1,426,650 | ) | ||||||||||||||
Debt financing costs | (84 | ) | — | — | (205 | ) | — | (289 | ) | |||||||||||||||
Payments on long-term debt | — | — | (7 | ) | — | — | (7 | ) | ||||||||||||||||
Payments on retirements of long-term debt | — | — | — | (2,850 | ) | — | (2,850 | ) | ||||||||||||||||
Net activity with affiliates | 160,285 | — | — | — | (160,285 | ) | — | |||||||||||||||||
Stock options exercised | 984 | — | — | — | — | 984 | ||||||||||||||||||
Restricted stock units released, net | (201 | ) | — | — | — | — | (201 | ) | ||||||||||||||||
Other financing activities | (95 | ) | — | — | — | — | (95 | ) | ||||||||||||||||
Net cash from financing activities | 67,489 | — | (41,257 | ) | (37,055 | ) | (160,285 | ) | (171,108 | ) | ||||||||||||||
Net change in cash and cash | 2 | (15,417 | ) | (4,105 | ) | (37,408 | ) | — | (56,928 | ) | ||||||||||||||
equivalents | ||||||||||||||||||||||||
Cash and cash equivalents, beginning | — | 106,445 | 33,766 | 37,627 | — | 177,838 | ||||||||||||||||||
of period | ||||||||||||||||||||||||
Cash and cash equivalents, end of | $ | 2 | $ | 91,028 | $ | 29,661 | $ | 219 | $ | — | $ | 120,910 | ||||||||||||
period | ||||||||||||||||||||||||
Condensed Consolidating Statements of Cash Flows - continued | ||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||
Non- | Non- | |||||||||||||||||||||||
Guarantor | Guarantor | |||||||||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||||||
Guarantor | (100% | (Not 100% | ||||||||||||||||||||||
(In thousands) | Parent | Subsidiaries | Owned) | Owned) | Eliminations | Consolidated | ||||||||||||||||||
Cash flows from operating activities | ||||||||||||||||||||||||
Net cash from operating activities | $ | (204,968 | ) | $ | 348,667 | $ | 29,757 | $ | 60,308 | $ | 19 | $ | 233,783 | |||||||||||
Cash flows from investing activities | ||||||||||||||||||||||||
Capital expenditures | (22,927 | ) | (36,191 | ) | (25,102 | ) | (16,398 | ) | — | (100,618 | ) | |||||||||||||
Proceeds from sale of Echelon, net | 343,750 | — | — | — | — | 343,750 | ||||||||||||||||||
Proceeds from sale of other assets, net | 4,875 | — | — | — | — | 4,875 | ||||||||||||||||||
Cash paid for exercise of LVE option | (187,000 | ) | — | — | — | — | (187,000 | ) | ||||||||||||||||
Investments in and advances to unconsolidated subsidiaries, net | (4,233 | ) | — | — | — | 4,233 | — | |||||||||||||||||
Net activity with affiliates | — | (331,703 | ) | (17,067 | ) | (121 | ) | 348,891 | — | |||||||||||||||
Distributions from subsidiary | 9,500 | — | — | — | (9,500 | ) | — | |||||||||||||||||
Other investing activities | — | — | 222 | (24 | ) | 198 | ||||||||||||||||||
Net cash from investing activities | 143,965 | (367,894 | ) | (41,947 | ) | (16,543 | ) | 343,624 | 61,205 | |||||||||||||||
Cash flows from financing activities | ||||||||||||||||||||||||
Borrowings under bank credit facility | 2,711,375 | — | 268,500 | 297,100 | — | 3,276,975 | ||||||||||||||||||
Payments under bank credit facility | (2,738,325 | ) | — | (296,688 | ) | (300,800 | ) | — | (3,335,813 | ) | ||||||||||||||
Debt financing costs | (23,562 | ) | — | (10,288 | ) | (2,546 | ) | — | (36,396 | ) | ||||||||||||||
Payments on long-term debt | (10,341 | ) | — | (477 | ) | — | — | (10,818 | ) | |||||||||||||||
Payments on retirements of long-term debt | (459,278 | ) | — | — | (40,994 | ) | — | (500,272 | ) | |||||||||||||||
Advances from parent | — | — | — | 4,233 | (4,233 | ) | — | |||||||||||||||||
Net activity with affiliates | 348,910 | — | — | — | (348,910 | ) | — | |||||||||||||||||
Distributions to parent | — | — | (9,500 | ) | — | 9,500 | — | |||||||||||||||||
Stock options exercised | 13,591 | — | — | — | — | 13,591 | ||||||||||||||||||
Restricted stock units released, net | (354 | ) | — | — | — | — | (354 | ) | ||||||||||||||||
Proceeds from sale of common stock | 216,467 | — | — | — | — | 216,467 | ||||||||||||||||||
Net cash from financing activities | 58,483 | — | (48,453 | ) | (43,007 | ) | (343,643 | ) | (376,620 | ) | ||||||||||||||
Cash flows from discontinued | ||||||||||||||||||||||||
operations | ||||||||||||||||||||||||
Cash flows from operating activities | — | — | (2,144 | ) | — | — | (2,144 | ) | ||||||||||||||||
Cash flows from investing activities | — | — | 56,751 | — | — | 56,751 | ||||||||||||||||||
Cash flows from financing activities | — | — | — | — | — | — | ||||||||||||||||||
Net cash from discontinued | — | — | 54,607 | — | — | 54,607 | ||||||||||||||||||
operations | ||||||||||||||||||||||||
Net change in cash and cash | (2,520 | ) | (19,227 | ) | (6,036 | ) | 758 | — | (27,025 | ) | ||||||||||||||
equivalents | ||||||||||||||||||||||||
Cash and cash equivalents, beginning | 2,520 | 118,714 | 36,619 | 34,692 | — | 192,545 | ||||||||||||||||||
of period | ||||||||||||||||||||||||
Change in cash classified as discontinued operations | — | — | 283 | — | — | 283 | ||||||||||||||||||
Cash and cash equivalents, end of | $ | — | $ | 99,487 | $ | 30,866 | $ | 35,450 | $ | — | $ | 165,803 | ||||||||||||
period | ||||||||||||||||||||||||
The Company has adjusted certain prior year amounts in the above condensed consolidating financial information to (1) correct the December 31, 2013 condensed consolidating balance sheet and correct the condensed consolidating statements of operations and cash flows for the three and nine months ended September 30, 2013 to add Boyd Acquisition, LLC as a Guarantor and to release Echelon Resorts, LLC as a Guarantor as a result of Supplemental Indentures to the notes, (2) correct prior year intercompany revenues and expenses and equity in earnings of subsidiaries presented in the statement of operations information, (3) correct prior year amounts in the statements of cash flows to reflect certain intercompany activities between the parent and the sub-groups as cash flows from investing and financing activities that had previously been reflected within cash flows from operating activities, and (4) properly record the impact of certain reclassification and tax entries within the correct sub-group. We believe the effect of the corrections are immaterial to the prior year financial statements. The application of these adjustments to the prior year consolidating information are summarized as follows: | ||||||||||||||||||||||||
(In thousands) | As Previously Reported | Adjustment | As Reclassified and Restated | |||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||
Total Assets | ||||||||||||||||||||||||
Parent | $ | 3,392,130 | $ | — | $ | 3,392,130 | ||||||||||||||||||
Guarantor Subsidiaries | 3,468,242 | 804,906 | 4,273,148 | |||||||||||||||||||||
Non-Guarantor Subsidiaries (100% Owned) | 1,592,946 | 20,350 | 1,613,296 | |||||||||||||||||||||
Non-Guarantor Subsidiaries (Not 100% Owned) | 1,334,814 | — | 1,334,814 | |||||||||||||||||||||
Eliminations | (4,046,401 | ) | (825,256 | ) | (4,871,657 | ) | ||||||||||||||||||
Consolidated | $ | 5,741,731 | $ | — | $ | 5,741,731 | ||||||||||||||||||
(In thousands) | As Previously Reported | Adjustment | As Reclassified and Restated | |||||||||||||||||||||
Three Months Ended September 30, 2013 | ||||||||||||||||||||||||
Net income (loss) | ||||||||||||||||||||||||
Parent | $ | (37,267 | ) | $ | — | $ | (37,267 | ) | ||||||||||||||||
Guarantor Subsidiaries | 21,047 | (4,024 | ) | 17,023 | ||||||||||||||||||||
Non-Guarantor Subsidiaries (100% Owned) | (17,086 | ) | 1,084 | (16,002 | ) | |||||||||||||||||||
Non-Guarantor Subsidiaries (Not 100% Owned) | 5,432 | — | 5,432 | |||||||||||||||||||||
Eliminations | (6,721 | ) | 2,940 | (3,781 | ) | |||||||||||||||||||
Consolidated | $ | (34,595 | ) | $ | — | $ | (34,595 | ) | ||||||||||||||||
(In thousands) | As Previously Reported | Adjustment | As Reclassified and Restated | |||||||||||||||||||||
Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||
Net income (loss) | ||||||||||||||||||||||||
Parent | $ | (32,924 | ) | $ | — | $ | (32,924 | ) | ||||||||||||||||
Guarantor Subsidiaries | 109,280 | (8,958 | ) | 100,322 | ||||||||||||||||||||
Non-Guarantor Subsidiaries (100% Owned) | (4,266 | ) | (9,091 | ) | (13,357 | ) | ||||||||||||||||||
Non-Guarantor Subsidiaries (Not 100% Owned) | (15,552 | ) | — | (15,552 | ) | |||||||||||||||||||
Eliminations | (97,501 | ) | 18,049 | (79,452 | ) | |||||||||||||||||||
Consolidated | $ | (40,963 | ) | $ | — | $ | (40,963 | ) | ||||||||||||||||
(In thousands) | As Previously Reported | Adjustment | As Reclassified and Restated | |||||||||||||||||||||
Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||
Cash flows from operating activities | ||||||||||||||||||||||||
Parent | $ | 143,937 | $ | (348,905 | ) | $ | (204,968 | ) | ||||||||||||||||
Guarantor Subsidiaries | 16,964 | 331,703 | 348,667 | |||||||||||||||||||||
Non-Guarantor Subsidiaries (100% Owned) | 12,695 | 17,062 | 29,757 | |||||||||||||||||||||
Non-Guarantor Subsidiaries (Not 100% Owned) | 64,420 | (4,112 | ) | 60,308 | ||||||||||||||||||||
Eliminations | (4,233 | ) | 4,252 | 19 | ||||||||||||||||||||
Consolidated | $ | 233,783 | $ | — | $ | 233,783 | ||||||||||||||||||
Subsequent_Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2014 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
SUBSEQUENT EVENTS | |
We have evaluated all events or transactions that occurred after September 30, 2014. During this period, up to the filing date, we did not identify any subsequent events, the effects of which would require disclosure or adjustment to our financial position or results of operations. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 9 Months Ended | |||||||||||
Sep. 30, 2014 | ||||||||||||
Accounting Policies [Abstract] | ' | |||||||||||
Promotional Allowances | ' | |||||||||||
Gaming Taxes | ||||||||||||
We are subject to taxes based on gross gaming revenues in the jurisdictions in which we operate. These gaming taxes are assessed based on our gaming revenues and are recorded as a gaming expense in the condensed consolidated statements of operations. These taxes totaled approximately $96.8 million and $99.2 million for the three months ended September 30, 2014 and 2013, respectively, and $289.4 million and $303.3 million for the nine months ended September 30, 2014 and 2013, respectively. | ||||||||||||
Income Taxes | ' | |||||||||||
Income Taxes | ||||||||||||
Income taxes are recorded under the asset and liability method, whereby deferred tax assets and liabilities are recognized based on the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and attributable to operating loss and tax credit carryforwards. We reduce the carrying amounts of deferred tax assets by a valuation allowance, if based on the available evidence it is more likely than not that such assets will not be realized. Accordingly, the need to establish valuation allowances for deferred tax assets is continually assessed based on a more-likely-than-not realization threshold. This assessment considers, among other matters, the nature, frequency and severity of current and cumulative losses, forecasts of future profitability, the duration of statutory carryforward periods, our experience with the utilization of operating loss and tax credit carryforwards before expiration and tax planning strategies. | ||||||||||||
In accordance with GAAP, we have computed our provision for income taxes by applying the actual effective tax rate, under the discrete method, to quarter-to-date income. The discrete method was used to calculate the income tax expense or benefit as the annual effective tax rate was not considered a reliable estimate of year-to-date income tax expense or benefit. We believe this method provides the most reliable estimate of year-to-date income tax expense. | ||||||||||||
Our current rate is impacted by adjustments that are largely independent of our operating results before taxes. Such adjustments relate primarily to the accrual of non-cash tax expense in connection with the tax amortization of indefinite-lived intangible assets that are not available to offset existing deferred tax assets. The deferred tax liabilities created by the tax amortization of these intangibles cannot be used to offset corresponding increases in the net operating loss deferred tax assets when determining our valuation allowance. | ||||||||||||
Other Long Term Tax Liabilities | ||||||||||||
The Company's income tax returns are subject to examination by the Internal Revenue Service ("IRS") and other tax authorities in the locations where it operates. The Company assesses potentially unfavorable outcomes of such examinations based on accounting standards for uncertain income taxes, which prescribe a minimum recognition threshold a tax position is required to meet before being recognized in the financial statements. | ||||||||||||
Uncertain tax position accounting standards apply to all tax positions related to income taxes. These accounting standards utilize a two-step approach for evaluating tax positions. Recognition occurs when the Company concludes that a tax position, based on its technical merits, is more likely than not to be sustained upon examination. Measurement is only addressed if the position is deemed to be more likely than not to be sustained. The tax benefit is measured as the largest amount of benefit that is more likely than not to be realized upon settlement. Use of the term "more likely than not" indicates the likelihood of occurrence is greater than 50%. | ||||||||||||
Tax positions failing to qualify for initial recognition are recognized in the first subsequent interim period that they meet the "more likely than not" standard. If it is subsequently determined that a previously recognized tax position no longer meets the "more likely than not" standard, it is required that the tax position is derecognized. Accounting standards for uncertain tax positions specifically prohibit the use of a valuation allowance as a substitute for derecognition of tax positions. As applicable, the Company will recognize accrued penalties and interest related to unrecognized tax benefits in the provision for income taxes. Accrued interest and penalties are included in other long-term tax liabilities on the balance sheet. | ||||||||||||
Net Income (Loss) Per Share | ' | |||||||||||
Net Income (Loss) per Share | ||||||||||||
Basic net income (loss) per share is computed by dividing net income (loss) applicable to Boyd Gaming Corporation stockholders by the weighted-average number of common shares outstanding during the period. Diluted earnings per share reflects the additional dilution for all potentially-dilutive securities, such as stock options. | ||||||||||||
Due to the net loss for the nine months ended September 30, 2014, the effect of all potential common share equivalents was anti-dilutive, and therefore all such shares were excluded from the computation of diluted weighted average shares outstanding for this period. The amount of potential common share equivalents were as follows: | ||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||
September 30, | September 30, | |||||||||||
(In thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||
Potential dilutive effect | 904.6 | 952.8 | 926.1 | 942.4 | ||||||||
Use of Estimates | ' | |||||||||||
Use of Estimates | ||||||||||||
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. | ||||||||||||
Recently Issued Accounting Pronouncements | ' | |||||||||||
Recently Issued Accounting Pronouncements | ||||||||||||
Accounting Standards Update 2014-15 Disclosure of Uncertainties About an Entity's Ability to Continue as a Going Concern ("Update 2014-15") | ||||||||||||
In August 2014, the FASB issued Update 2014-15, which provides guidance on determining when and how reporting entities must disclose going-concern uncertainties in their financial statements. The pronouncement is effective for annual periods ending after December 15, 2016, and interim periods thereafter, and early adoption is permitted. The impact of the adoption of Update 2014-15 is currently under evaluation. | ||||||||||||
Accounting Standards Update 2014-12 Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period ("Update 2014-12") | ||||||||||||
In June 2014, the Financial Accounting Standards Board ("FASB") issued Update 2014-12. Update 2014-12 requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant-date fair value of the award. The standard is effective for annual reporting periods beginning after December 15, 2015, with early adoption permitted. The Company is evaluating the potential impacts of the new standard on its existing stock-based compensation plans. | ||||||||||||
Accounting Standards Update 2013-11 Income Taxes (Topic 740) Presentation of an Unrecognized Tax Benefit ("UTB") When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists ("Update 2013-11") | ||||||||||||
In July 2013, the FASB issued Update 2013-11. The objective of Update 2013-11 is to provide guidance on the financial statement presentation of an UTB when a net operating loss ("NOL") carryforward, a similar tax loss, or a tax credit carryforward exists. The Company is required to present an UTB in the financial statements as a reduction to a deferred tax asset for a NOL carryforward, a similar tax loss, or a tax credit carryforward. | ||||||||||||
Update 2013-11 is effective for interim and annual periods beginning after December 15, 2013. The adoption of Update 2013-11 did not have a material effect on our consolidated financial statements. | ||||||||||||
Accounting Standards Update 2014-09 Revenue from Contracts with Customers (Topic 606) ("Update 2014-09") | ||||||||||||
In May 2014, the FASB issued Update 2014-09. Update 2014-09 outlines a new, single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The pronouncement is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and early adoption is not permitted. The impact of the adoption of Update 2014-09 to the Company's consolidated financial position or results of operations is currently under evaluation. | ||||||||||||
Accounting Standards Update 2014-08 Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity ("Update 2014-08") | ||||||||||||
In April 2014, the FASB issued Update 2014-08. Update 2014-08 raises the threshold for determining which disposals are required to be presented as discontinued operations and modifies related disclosure requirements. The standard is applied prospectively and is effective in 2015 with early adoption permitted. The Company is currently assessing the potential impact that the adoption of this guidance will have on its financial position and results of operations. | ||||||||||||
A variety of proposed or otherwise potential accounting standards are currently being studied by standard-setting organizations and certain regulatory agencies. Because of the tentative and preliminary nature of such proposed standards, we have not yet determined the effect, if any, that the implementation of such proposed standards would have on our consolidated financial statements. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Accounting Policies [Abstract] | ' | |||||||||||||||
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | ' | |||||||||||||||
The amount of potential common share equivalents were as follows: | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
(In thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||
Potential dilutive effect | 904.6 | 952.8 | 926.1 | 942.4 | ||||||||||||
Schedule of Promotional Allowances | ' | |||||||||||||||
Promotional Allowances | ||||||||||||||||
The retail value of accommodations, food and beverage, and other services furnished to guests without charge is included in gross revenues and then deducted as a promotional allowance. Promotional allowances also include incentives earned in our slot bonus program such as cash, complimentary play, and the estimated retail value of goods and services (such as complimentary rooms and food and beverages). We reward customers, through the use of bonus programs, with points based on amounts wagered that can be redeemed for a specified period of time for complimentary slot play, food and beverage, and to a lesser extent for other goods or services, depending upon the property. | ||||||||||||||||
The amounts included in promotional allowances are as follows: | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
(In thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||
Rooms | $ | 40,420 | $ | 39,296 | $ | 112,825 | $ | 109,737 | ||||||||
Food and beverage | 53,247 | 52,708 | 152,462 | 153,361 | ||||||||||||
Other | 34,001 | 33,168 | 91,040 | 85,023 | ||||||||||||
Total promotional allowances | $ | 127,668 | $ | 125,172 | $ | 356,327 | $ | 348,121 | ||||||||
The estimated costs of providing such promotional allowances are as follows: | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
(In thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||
Rooms | $ | 15,371 | $ | 15,361 | $ | 43,956 | $ | 44,505 | ||||||||
Food and beverage | 46,841 | 47,252 | 133,889 | 136,435 | ||||||||||||
Other | 6,512 | 6,499 | 17,199 | 17,058 | ||||||||||||
Total cost of promotional allowances | $ | 68,724 | $ | 69,112 | $ | 195,044 | $ | 197,998 | ||||||||
Property_and_Equipment_Net_Tab
Property and Equipment, Net (Tables) | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||
Schedule of Property and Equipment | ' | |||||||
Property and equipment, net consists of the following: | ||||||||
September 30, | December 31, | |||||||
(In thousands) | 2014 | 2013 | ||||||
Land | $ | 229,684 | $ | 336,079 | ||||
Buildings and improvements | 2,508,826 | 3,852,039 | ||||||
Furniture and equipment | 1,067,571 | 1,332,090 | ||||||
Riverboats and barges | 189,536 | 189,175 | ||||||
Construction in progress | 82,493 | 72,141 | ||||||
Other | 14,555 | 21,750 | ||||||
Total property and equipment | 4,092,665 | 5,803,274 | ||||||
Less accumulated depreciation | 1,813,811 | 2,297,661 | ||||||
Property and equipment, net | $ | 2,278,854 | $ | 3,505,613 | ||||
Intangible_Assets_Tables
Intangible Assets (Tables) | 9 Months Ended | |||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||
Intangible Assets, Net (Excluding Goodwill) [Abstract] | ' | |||||||||||||||||
Schedule of Intangible Assets | ' | |||||||||||||||||
Intangible assets consist of the following: | ||||||||||||||||||
September 30, 2014 | ||||||||||||||||||
Weighted | Gross | Cumulative | ||||||||||||||||
Average Life | Carrying | Cumulative | Impairment | Intangible | ||||||||||||||
(In thousands) | Remaining | Value | Amortization | Losses | Assets, Net | |||||||||||||
Amortizing intangibles: | ||||||||||||||||||
Customer relationships | 2.8 years | $ | 154,000 | $ | (93,715 | ) | $ | — | $ | 60,285 | ||||||||
Favorable lease rates | 32.7 years | 45,370 | (10,694 | ) | — | 34,676 | ||||||||||||
Development agreement | — | 21,373 | — | — | 21,373 | |||||||||||||
220,743 | (104,409 | ) | — | 116,334 | ||||||||||||||
Indefinite lived intangible assets: | ||||||||||||||||||
Trademarks and other | Indefinite | 129,501 | — | (3,200 | ) | 126,301 | ||||||||||||
Gaming license rights | Indefinite | 955,135 | (33,960 | ) | (180,900 | ) | 740,275 | |||||||||||
1,084,636 | (33,960 | ) | (184,100 | ) | 866,576 | |||||||||||||
Balance, September 30, 2014 | $ | 1,305,379 | $ | (138,369 | ) | $ | (184,100 | ) | $ | 982,910 | ||||||||
December 31, 2013 | ||||||||||||||||||
Weighted | Gross | Cumulative | ||||||||||||||||
Average Life | Carrying | Cumulative | Impairment | Intangible | ||||||||||||||
(In thousands) | Remaining | Value | Amortization | Losses | Assets, Net | |||||||||||||
Amortizing intangibles: | ||||||||||||||||||
Customer relationships | 3.6 years | $ | 154,000 | $ | (68,733 | ) | $ | — | $ | 85,267 | ||||||||
Non-competition agreement | — | 3,200 | (3,200 | ) | — | — | ||||||||||||
Favorable lease rates | 34.4 years | 45,370 | (9,912 | ) | — | 35,458 | ||||||||||||
Development agreement | — | 21,373 | — | — | 21,373 | |||||||||||||
223,943 | (81,845 | ) | — | 142,098 | ||||||||||||||
Indefinite lived intangible assets: | ||||||||||||||||||
Trademarks and other | Indefinite | 196,487 | — | (8,200 | ) | 188,287 | ||||||||||||
Gaming license rights | Indefinite | 955,135 | (33,960 | ) | (180,900 | ) | 740,275 | |||||||||||
1,151,622 | (33,960 | ) | (189,100 | ) | 928,562 | |||||||||||||
Balance, December 31, 2013 | $ | 1,375,565 | $ | (115,805 | ) | $ | (189,100 | ) | $ | 1,070,660 | ||||||||
Accrued_Liabilities_Tables
Accrued Liabilities (Tables) | 9 Months Ended | |||||||
Sep. 30, 2014 | ||||||||
Payables and Accruals [Abstract] | ' | |||||||
Schedule of Accrued Liabilities | ' | |||||||
Accrued liabilities consist of the following: | ||||||||
September 30, | December 31, | |||||||
(In thousands) | 2014 | 2013 | ||||||
Payroll and related expenses | $ | 67,371 | $ | 90,602 | ||||
Interest | 28,290 | 47,497 | ||||||
Gaming liabilities | 38,880 | 58,145 | ||||||
Player loyalty program liabilities | 19,360 | 25,159 | ||||||
Accrued liabilities | 97,208 | 120,544 | ||||||
Total accrued liabilities | $ | 251,109 | $ | 341,947 | ||||
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||||||
Schedule of Long-term Debt Instruments | ' | ||||||||||||||||||
Long-term debt, net of current maturities consists of the following: | |||||||||||||||||||
September 30, 2014 | |||||||||||||||||||
Interest | Unamortized | ||||||||||||||||||
Rates at | Outstanding | Unamortized | Origination | Long-Term | |||||||||||||||
(In thousands) | Sept. 30, 2014 | Principal | Discount | Fees | Debt, Net | ||||||||||||||
Boyd Debt: | |||||||||||||||||||
Boyd Gaming Debt: | |||||||||||||||||||
Bank credit facility | 3.67 | % | $ | 1,374,325 | $ | (3,750 | ) | $ | — | $ | 1,370,575 | ||||||||
9.125% senior notes due 2018 | 9.13 | % | 500,000 | — | (5,155 | ) | 494,845 | ||||||||||||
9.00% senior notes due 2020 | 9 | % | 350,000 | — | — | 350,000 | |||||||||||||
HoldCo Note | 6 | % | 147,320 | (13,228 | ) | — | 134,092 | ||||||||||||
2,371,645 | (16,978 | ) | (5,155 | ) | 2,349,512 | ||||||||||||||
Peninsula Segment Debt: | |||||||||||||||||||
Bank credit facility | 4.25 | % | 760,900 | — | — | 760,900 | |||||||||||||
8.375% senior notes due 2018 | 8.38 | % | 350,000 | — | — | 350,000 | |||||||||||||
Other | various | 6 | — | — | 6 | ||||||||||||||
1,110,906 | — | — | 1,110,906 | ||||||||||||||||
Total long-term debt | 3,482,551 | (16,978 | ) | (5,155 | ) | 3,460,418 | |||||||||||||
Less current maturities | 27,693 | — | — | 27,693 | |||||||||||||||
Long-term debt, net | $ | 3,454,858 | $ | (16,978 | ) | $ | (5,155 | ) | $ | 3,432,725 | |||||||||
December 31, 2013 | |||||||||||||||||||
Interest | Unamortized | ||||||||||||||||||
Rates at | Outstanding | Unamortized | Origination | Long-Term | |||||||||||||||
(In thousands) | Dec. 31, 2013 | Principal | Discount | Fees | Debt, Net | ||||||||||||||
Boyd Debt: | |||||||||||||||||||
Boyd Gaming Debt: | |||||||||||||||||||
Bank credit facility | 3.66 | % | $ | 1,467,725 | $ | (4,233 | ) | $ | — | $ | 1,463,492 | ||||||||
9.125% senior notes due 2018 | 9.13 | % | 500,000 | — | (6,082 | ) | 493,918 | ||||||||||||
9.00% senior notes due 2020 | 9 | % | 350,000 | — | — | 350,000 | |||||||||||||
HoldCo Note | 6 | % | 143,030 | (17,371 | ) | — | 125,659 | ||||||||||||
2,460,755 | (21,604 | ) | (6,082 | ) | 2,433,069 | ||||||||||||||
Peninsula Segment Debt: | |||||||||||||||||||
Bank credit facility | 4.2 | % | 802,150 | — | — | 802,150 | |||||||||||||
8.375% senior notes due 2018 | 8.38 | % | 350,000 | — | — | 350,000 | |||||||||||||
Other | various | 12 | — | — | 12 | ||||||||||||||
1,152,162 | — | — | 1,152,162 | ||||||||||||||||
Total Boyd Debt | 3,612,917 | (21,604 | ) | (6,082 | ) | 3,585,231 | |||||||||||||
Borgata Debt: | |||||||||||||||||||
Bank credit facility | 3.86 | % | 39,900 | — | — | 39,900 | |||||||||||||
Incremental term loan | 6.75 | % | 380,000 | (3,766 | ) | — | 376,234 | ||||||||||||
9.875% senior secured notes due 2018 | 9.88 | % | 393,500 | (1,811 | ) | (6,563 | ) | 385,126 | |||||||||||
Total Borgata Debt | 813,400 | (5,577 | ) | (6,563 | ) | 801,260 | |||||||||||||
Less current maturities | 33,559 | — | — | 33,559 | |||||||||||||||
Long-term debt, net | $ | 4,392,758 | $ | (27,181 | ) | $ | (12,645 | ) | $ | 4,352,932 | |||||||||
Schedule of Line of Credit Facilities | ' | ||||||||||||||||||
The net amounts outstanding under the Third Amended and Restated Credit Agreement (the "Boyd Gaming Credit Facility") were: | |||||||||||||||||||
(In thousands) | September 30, 2014 | December 31, 2013 | |||||||||||||||||
Revolving Credit Facility | $ | 266,250 | $ | 295,000 | |||||||||||||||
Term A Loan | 234,375 | 246,875 | |||||||||||||||||
Term B Loan | 858,750 | 897,750 | |||||||||||||||||
Swing Loan | 11,200 | 23,867 | |||||||||||||||||
Total outstanding borrowings under the Boyd Gaming Credit Facility | $ | 1,370,575 | $ | 1,463,492 | |||||||||||||||
Stockholders_Equity_and_Stock_1
Stockholders' Equity and Stock Incentive Plans (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs | ' | |||||||||||||||
The following table provides classification detail of the total costs related to our share-based employee compensation plans reported in our condensed consolidated statements of operations. | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
(In thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||
Gaming | $ | 49 | $ | 59 | $ | 231 | $ | 176 | ||||||||
Food and beverage | 9 | 12 | 44 | 34 | ||||||||||||
Room | 4 | 5 | 21 | 16 | ||||||||||||
Selling, general and administrative | 247 | 298 | 1,173 | 894 | ||||||||||||
Corporate expense | 1,217 | 1,675 | 9,962 | 7,913 | ||||||||||||
Other operating items, net | (192 | ) | — | (192 | ) | — | ||||||||||
Total share-based compensation expense | $ | 1,334 | $ | 2,049 | $ | 11,239 | $ | 9,033 | ||||||||
Noncontrolling_Interest_Tables
Noncontrolling Interest (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Noncontrolling Interest [Abstract] | ' | |||||||||||||||
Schedule of Changes in Noncontrolling Interest | ' | |||||||||||||||
Changes in the noncontrolling interest are as follows: | ||||||||||||||||
Nine Months Ended September 30, 2014 | ||||||||||||||||
(In thousands) | Holding Company | Other | Total | |||||||||||||
Balance, January 1, 2014 | $ | 180,430 | $ | 20 | $ | 180,450 | ||||||||||
Attributable net income | 11,403 | — | 11,403 | |||||||||||||
Capital contributions | — | 30 | 30 | |||||||||||||
Deconsolidation of Borgata on September 30, 2014 | (191,833 | ) | — | (191,833 | ) | |||||||||||
Balance, September 30, 2014 | $ | — | $ | 50 | $ | 50 | ||||||||||
Nine Months Ended September 30, 2013 | ||||||||||||||||
(In thousands) | Holding Company | LVE | Other | Total | ||||||||||||
Balance, January 1, 2013 | $ | 208,277 | $ | (44,961 | ) | $ | 20 | $ | 163,336 | |||||||
Attributable net loss | (7,596 | ) | (443 | ) | — | (8,039 | ) | |||||||||
Deconsolidation of LVE on March 4, 2013 | — | 45,404 | — | 45,404 | ||||||||||||
Balance, September 30, 2013 | $ | 200,681 | $ | — | $ | 20 | $ | 200,701 | ||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Fair Value, Assets Measured on Recurring Basis | ' | |||||||||||||||
Balances Measured at Fair Value | ||||||||||||||||
The following tables show the fair values of certain of our financial instruments. | ||||||||||||||||
September 30, 2014 | ||||||||||||||||
(In thousands) | Balance | Level 1 | Level 2 | Level 3 | ||||||||||||
Assets | ||||||||||||||||
Cash and cash equivalents | $ | 120,910 | $ | 120,910 | $ | — | $ | — | ||||||||
Restricted cash | 25,163 | 25,163 | — | — | ||||||||||||
Investment available for sale | 18,153 | — | — | 18,153 | ||||||||||||
Liabilities | ||||||||||||||||
Merger earnout | $ | 225 | $ | — | $ | — | $ | 225 | ||||||||
Contingent payments | 4,258 | — | — | 4,258 | ||||||||||||
December 31, 2013 | ||||||||||||||||
(In thousands) | Balance | Level 1 | Level 2 | Level 3 | ||||||||||||
Assets | ||||||||||||||||
Cash and cash equivalents | $ | 177,838 | $ | 177,838 | $ | — | $ | — | ||||||||
Restricted cash | 20,686 | 20,686 | — | — | ||||||||||||
CRDA deposits | 4,613 | — | — | 4,613 | ||||||||||||
Investment available for sale | 17,128 | — | — | 17,128 | ||||||||||||
Liabilities | ||||||||||||||||
Merger earnout | $ | 1,125 | $ | — | $ | — | $ | 1,125 | ||||||||
Contingent payments | 4,343 | — | — | 4,343 | ||||||||||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation | ' | |||||||||||||||
The following table summarizes the changes in fair value of the Company's Level 3 assets and liabilities: | ||||||||||||||||
Three Months Ended September 30, 2014 | ||||||||||||||||
Assets | Liabilities | |||||||||||||||
(In thousands) | Investment | Merger | Contingent | |||||||||||||
Available for | Earnout | Payments | ||||||||||||||
Sale | ||||||||||||||||
Balance at July 1, 2014 | $ | 17,443 | $ | (450 | ) | $ | (4,278 | ) | ||||||||
Deposits | — | — | — | |||||||||||||
Total gains (losses) (realized or unrealized): | ||||||||||||||||
Included in earnings | 29 | 225 | (181 | ) | ||||||||||||
Included in other comprehensive income (loss) | 681 | — | — | |||||||||||||
Transfers in or out of Level 3 | — | — | — | |||||||||||||
Purchases, sales, issuances and settlements: | ||||||||||||||||
Settlements | — | — | 201 | |||||||||||||
Ending balance at September 30, 2014 | $ | 18,153 | $ | (225 | ) | $ | (4,258 | ) | ||||||||
Gains (losses) included in earnings attributable to the change in unrealized gains relating to assets and liabilities still held at the reporting date: | ||||||||||||||||
Included in interest income | $ | 29 | $ | — | $ | — | ||||||||||
Included in interest expense | — | — | (181 | ) | ||||||||||||
Three Months Ended September 30, 2013 | ||||||||||||||||
Assets | Liabilities | |||||||||||||||
(In thousands) | Investment | CRDA | Merger | Contingent | ||||||||||||
Available for | Deposits | Earnout | Payments | |||||||||||||
Sale | ||||||||||||||||
Balance at July 1, 2013 | $ | 17,742 | $ | 25,114 | $ | (8,983 | ) | $ | (4,470 | ) | ||||||
Deposits | — | 1,738 | — | — | ||||||||||||
Total gains (losses) (realized or unrealized): | ||||||||||||||||
Included in earnings | 28 | (581 | ) | — | (191 | ) | ||||||||||
Included in other comprehensive income (loss) | 167 | — | — | — | ||||||||||||
Transfers in or out of Level 3 | — | — | — | — | ||||||||||||
Purchases, sales, issuances and settlements: | ||||||||||||||||
Settlements | — | (22,545 | ) | — | 214 | |||||||||||
Ending balance at September 30, 2013 | $ | 17,937 | $ | 3,726 | $ | (8,983 | ) | $ | (4,447 | ) | ||||||
Gains (losses) included in earnings attributable to the change in unrealized gains relating to assets and liabilities still held at the reporting date: | ||||||||||||||||
Included in interest income | $ | 28 | $ | — | $ | — | $ | — | ||||||||
Included in interest expense | — | — | — | (191 | ) | |||||||||||
Nine Months Ended September 30, 2014 | ||||||||||||||||
Assets | Liabilities | |||||||||||||||
(In thousands) | Investment | Merger | Contingent | |||||||||||||
Available for | Earnout | Payments | ||||||||||||||
Sale | ||||||||||||||||
Balance at January 1, 2014 | $ | 17,128 | $ | (1,125 | ) | $ | (4,343 | ) | ||||||||
Deposits | — | — | — | |||||||||||||
Total gains (losses) (realized or unrealized): | ||||||||||||||||
Included in earnings | 89 | 900 | (549 | ) | ||||||||||||
Included in other comprehensive income (loss) | 1,291 | — | — | |||||||||||||
Transfers in or out of Level 3 | — | — | — | |||||||||||||
Purchases, sales, issuances and settlements: | ||||||||||||||||
Settlements | (355 | ) | — | 634 | ||||||||||||
Ending balance at September 30, 2014 | $ | 18,153 | $ | (225 | ) | $ | (4,258 | ) | ||||||||
Gains (losses) included in earnings attributable to the change in unrealized gains relating to assets and liabilities still held at the reporting date: | ||||||||||||||||
Included in interest income | $ | 89 | $ | — | $ | — | ||||||||||
Included in interest expense | — | — | (549 | ) | ||||||||||||
Nine Months Ended September 30, 2013 | ||||||||||||||||
Assets | Liabilities | |||||||||||||||
(In thousands) | Investment | CRDA | Merger | Contingent | ||||||||||||
Available for | Deposits | Earnout | Payments | |||||||||||||
Sale | ||||||||||||||||
Balance at January 1, 2013 | $ | 17,907 | $ | 28,464 | $ | (9,800 | ) | $ | (4,563 | ) | ||||||
Deposits | — | 5,145 | — | — | ||||||||||||
Total gains (losses) (realized or unrealized): | ||||||||||||||||
Included in earnings | 78 | (7,338 | ) | 817 | (578 | ) | ||||||||||
Included in other comprehensive income (loss) | 282 | — | — | — | ||||||||||||
Transfers in or out of Level 3 | — | — | — | — | ||||||||||||
Purchases, sales, issuances and settlements: | ||||||||||||||||
Settlements | (330 | ) | (22,545 | ) | — | 694 | ||||||||||
Ending balance at September 30, 2013 | $ | 17,937 | $ | 3,726 | $ | (8,983 | ) | $ | (4,447 | ) | ||||||
Gains (losses) included in earnings attributable to the change in unrealized gains relating to assets and liabilities still held at the reporting date: | ||||||||||||||||
Included in interest income | $ | 78 | $ | — | $ | — | $ | 167 | ||||||||
Included in interest expense | — | — | — | (578 | ) | |||||||||||
Included in non-operating income | — | — | 817 | — | ||||||||||||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques | ' | |||||||||||||||
The table below summarizes the significant unobservable inputs used in calculating fair value for our Level 3 assets and liabilities: | ||||||||||||||||
Valuation | Unobservable | Rate | ||||||||||||||
Technique | Input | |||||||||||||||
Investment available for sale | Discounted cash flow | Discount rate | 10.2 | % | ||||||||||||
Merger earnout | Probability-based model | Estimated probability | 2 | % | ||||||||||||
Contingent payments | Discounted cash flow | Discount rate | 18.5 | % | ||||||||||||
Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis | ' | |||||||||||||||
September 30, 2014 | ||||||||||||||||
(In thousands) | Outstanding Face Amount | Carrying Value | Estimated Fair Value | Fair Value Hierarchy | ||||||||||||
Boyd Debt: | ||||||||||||||||
Boyd Gaming Debt: | ||||||||||||||||
Bank credit facility | $ | 1,374,325 | $ | 1,370,575 | $ | 1,384,027 | Level 2 | |||||||||
9.125% Senior Notes due 2018 | 500,000 | 494,845 | 527,500 | Level 1 | ||||||||||||
9.00% Senior Notes due 2020 | 350,000 | 350,000 | 378,455 | Level 1 | ||||||||||||
HoldCo Note | 147,320 | 134,092 | 139,954 | Level 3 | ||||||||||||
2,371,645 | 2,349,512 | 2,429,936 | ||||||||||||||
Peninsula Segment Debt: | ||||||||||||||||
Bank credit facility | 760,900 | 760,900 | 773,068 | Level 2 | ||||||||||||
8.375% Senior Notes due 2018 | 350,000 | 350,000 | 367,500 | Level 2 | ||||||||||||
Other | 6 | 6 | 6 | Level 3 | ||||||||||||
1,110,906 | 1,110,906 | 1,140,574 | ||||||||||||||
Total debt | $ | 3,482,551 | $ | 3,460,418 | $ | 3,570,510 | ||||||||||
December 31, 2013 | ||||||||||||||||
(In thousands) | Outstanding Face Amount | Carrying Value | Estimated Fair Value | Fair Value Hierarchy | ||||||||||||
Boyd Debt: | ||||||||||||||||
Boyd Gaming Debt: | ||||||||||||||||
Bank credit facility | $ | 1,467,725 | $ | 1,463,492 | $ | 1,469,969 | Level 2 | |||||||||
9.125% Senior Notes due 2018 | 500,000 | 493,918 | 543,750 | Level 1 | ||||||||||||
9.00% Senior Notes due 2020 | 350,000 | 350,000 | 383,250 | Level 1 | ||||||||||||
HoldCo Note | 143,030 | 125,659 | 125,659 | Level 3 | ||||||||||||
2,460,755 | 2,433,069 | 2,522,628 | ||||||||||||||
Peninsula Segment Debt: | ||||||||||||||||
Bank credit facility | 802,150 | 802,150 | 814,941 | Level 2 | ||||||||||||
8.375% Senior Notes due 2018 | 350,000 | 350,000 | 381,500 | Level 2 | ||||||||||||
Other | 12 | 12 | 12 | Level 3 | ||||||||||||
1,152,162 | 1,152,162 | 1,196,453 | ||||||||||||||
Total Boyd Debt | 3,612,917 | 3,585,231 | 3,719,081 | |||||||||||||
Borgata Debt: | ||||||||||||||||
Bank credit facility | 39,900 | 39,900 | 39,900 | Level 2 | ||||||||||||
Incremental term loan | 380,000 | 376,234 | 381,900 | Level 2 | ||||||||||||
9.875% senior secured notes due 2018 | 393,500 | 385,126 | 425,472 | Level 1 | ||||||||||||
Total Borgata Debt | 813,400 | 801,260 | 847,272 | |||||||||||||
Total debt | $ | 4,426,317 | $ | 4,386,491 | $ | 4,566,353 | ||||||||||
Balances Disclosed at Fair Value | ||||||||||||||||
The following tables provide the fair value measurement information about our obligation under minimum assessment agreements and other financial instruments: | ||||||||||||||||
September 30, 2014 | ||||||||||||||||
(In thousands) | Outstanding Face Amount | Carrying Value | Estimated Fair Value | Fair Value Hierarchy | ||||||||||||
Liabilities | ||||||||||||||||
Obligation under assessment arrangements | $ | 37,094 | $ | 28,788 | $ | 28,942 | Level 3 | |||||||||
Other financial instruments | 300 | 262 | 262 | Level 3 | ||||||||||||
December 31, 2013 | ||||||||||||||||
(In thousands) | Outstanding Face Amount | Carrying Value | Estimated Fair Value | Fair Value Hierarchy | ||||||||||||
Liabilities | ||||||||||||||||
Obligation under assessment arrangements | $ | 37,783 | $ | 28,980 | $ | 27,608 | Level 3 | |||||||||
Other financial instruments | 400 | 343 | 343 | Level 3 | ||||||||||||
Segment_Information_Tables
Segment Information (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Schedule of Composition of Segments | ' | |||||||||||||||
The table below lists the classification of each of our properties. | ||||||||||||||||
Las Vegas Locals | ||||||||||||||||
Gold Coast Hotel and Casino | Las Vegas, Nevada | |||||||||||||||
The Orleans Hotel and Casino | Las Vegas, Nevada | |||||||||||||||
Sam's Town Hotel and Gambling Hall | Las Vegas, Nevada | |||||||||||||||
Suncoast Hotel and Casino | Las Vegas, Nevada | |||||||||||||||
Eldorado Casino | Henderson, Nevada | |||||||||||||||
Jokers Wild Casino | Henderson, Nevada | |||||||||||||||
Downtown Las Vegas | ||||||||||||||||
California Hotel and Casino | Las Vegas, Nevada | |||||||||||||||
Fremont Hotel and Casino | Las Vegas, Nevada | |||||||||||||||
Main Street Station Casino, Brewery and Hotel | Las Vegas, Nevada | |||||||||||||||
Midwest and South | ||||||||||||||||
Sam's Town Hotel and Gambling Hall | Tunica, Mississippi | |||||||||||||||
IP Casino Resort Spa | Biloxi, Mississippi | |||||||||||||||
Par-A-Dice Hotel Casino | East Peoria, Illinois | |||||||||||||||
Blue Chip Casino, Hotel & Spa | Michigan City, Indiana | |||||||||||||||
Treasure Chest Casino | Kenner, Louisiana | |||||||||||||||
Delta Downs Racetrack Casino & Hotel | Vinton, Louisiana | |||||||||||||||
Sam's Town Hotel and Casino | Shreveport, Louisiana | |||||||||||||||
Peninsula | ||||||||||||||||
Diamond Jo Dubuque | Dubuque, Iowa | |||||||||||||||
Diamond Jo Worth | Northwood, Iowa | |||||||||||||||
Evangeline Downs Racetrack and Casino | Opelousas, Louisiana | |||||||||||||||
Amelia Belle Casino | Amelia, Louisiana | |||||||||||||||
Kansas Star Casino | Mulvane, Kansas | |||||||||||||||
Borgata | ||||||||||||||||
Borgata Hotel Casino & Spa | Atlantic City, New Jersey | |||||||||||||||
Reconciliation of Revenue and Adjusted EBITDA from Segments to Consolidated | ' | |||||||||||||||
The following table sets forth, for the periods indicated, certain operating data for our Reportable Segments, and reconciles Total Reportable Segment Adjusted EBITDA to operating income, as reported in our accompanying condensed consolidated statements of operations: | ||||||||||||||||
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
(In thousands) | 2014 | 2013 | 2014 | 2013 | ||||||||||||
Net Revenues | ||||||||||||||||
Las Vegas Locals | $ | 141,207 | $ | 140,291 | $ | 440,920 | $ | 442,808 | ||||||||
Downtown Las Vegas | 53,379 | 52,674 | 164,664 | 162,884 | ||||||||||||
Midwest and South | 210,732 | 214,831 | 631,472 | 668,221 | ||||||||||||
Peninsula | 123,579 | 130,722 | 373,606 | 400,416 | ||||||||||||
Borgata | 209,946 | 200,051 | 559,064 | 538,572 | ||||||||||||
Total Reportable Segment Net Revenues | $ | 738,843 | $ | 738,569 | $ | 2,169,726 | $ | 2,212,901 | ||||||||
Reportable Segment Adjusted EBITDA | ||||||||||||||||
Las Vegas Locals | $ | 28,052 | $ | 26,350 | $ | 104,640 | $ | 104,278 | ||||||||
Downtown Las Vegas | 6,315 | 5,534 | 24,193 | 21,942 | ||||||||||||
Midwest and South | 43,593 | 41,936 | 129,890 | 140,243 | ||||||||||||
Peninsula | 42,875 | 45,274 | 132,918 | 144,309 | ||||||||||||
Borgata | 56,873 | 46,592 | 119,917 | 102,844 | ||||||||||||
Total Reportable Segment Adjusted EBITDA | 177,708 | 165,686 | 511,558 | 513,616 | ||||||||||||
Other operating costs and expenses | ||||||||||||||||
Corporate expense | 13,848 | 10,409 | 42,643 | 34,675 | ||||||||||||
Deferred rent | 903 | 956 | 2,714 | 2,872 | ||||||||||||
Depreciation and amortization | 66,168 | 69,002 | 198,245 | 209,358 | ||||||||||||
Preopening expense | 1,262 | 1,675 | 3,836 | 4,829 | ||||||||||||
Share-based compensation expense | 1,526 | 2,048 | 11,431 | 9,033 | ||||||||||||
Impairments of assets | 18,279 | 1,250 | 20,205 | 6,282 | ||||||||||||
Asset transaction costs | 3,064 | (1,362 | ) | 5,078 | 2,265 | |||||||||||
Other operating charges and credits, net | (1,116 | ) | 3,386 | (1,863 | ) | 5,181 | ||||||||||
Total other operating costs and expenses | 103,934 | 87,364 | 282,289 | 274,495 | ||||||||||||
Operating income | $ | 73,774 | $ | 78,322 | $ | 229,269 | $ | 239,121 | ||||||||
Reconciliation of Assets from Segment to Consolidated | ' | |||||||||||||||
The Company's assets by Reportable Segment consisted of the following amounts: | ||||||||||||||||
September 30, | December 31, | |||||||||||||||
(In thousands) | 2014 | 2013 | ||||||||||||||
Assets | ||||||||||||||||
Las Vegas Locals | $ | 1,162,456 | $ | 1,190,234 | ||||||||||||
Downtown Las Vegas | 124,980 | 125,618 | ||||||||||||||
Midwest and South | 1,330,648 | 1,349,155 | ||||||||||||||
Peninsula | 1,473,592 | 1,511,606 | ||||||||||||||
Borgata | — | 1,334,714 | ||||||||||||||
Total Reportable Segment Assets | 4,091,676 | 5,511,327 | ||||||||||||||
Corporate | 417,905 | 230,267 | ||||||||||||||
Other | — | 137 | ||||||||||||||
Total Assets | $ | 4,509,581 | $ | 5,741,731 | ||||||||||||
Condensed_Consolidating_Financ1
Condensed Consolidating Financial Information (Tables) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2014 | ||||||||||||||||||||||||
Schedule of adjustments [Line Items] | ' | |||||||||||||||||||||||
Schedule of adjustments | ' | |||||||||||||||||||||||
The Company has adjusted certain prior year amounts in the above condensed consolidating financial information to (1) correct the December 31, 2013 condensed consolidating balance sheet and correct the condensed consolidating statements of operations and cash flows for the three and nine months ended September 30, 2013 to add Boyd Acquisition, LLC as a Guarantor and to release Echelon Resorts, LLC as a Guarantor as a result of Supplemental Indentures to the notes, (2) correct prior year intercompany revenues and expenses and equity in earnings of subsidiaries presented in the statement of operations information, (3) correct prior year amounts in the statements of cash flows to reflect certain intercompany activities between the parent and the sub-groups as cash flows from investing and financing activities that had previously been reflected within cash flows from operating activities, and (4) properly record the impact of certain reclassification and tax entries within the correct sub-group. We believe the effect of the corrections are immaterial to the prior year financial statements. The application of these adjustments to the prior year consolidating information are summarized as follows: | ||||||||||||||||||||||||
(In thousands) | As Previously Reported | Adjustment | As Reclassified and Restated | |||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||
Total Assets | ||||||||||||||||||||||||
Parent | $ | 3,392,130 | $ | — | $ | 3,392,130 | ||||||||||||||||||
Guarantor Subsidiaries | 3,468,242 | 804,906 | 4,273,148 | |||||||||||||||||||||
Non-Guarantor Subsidiaries (100% Owned) | 1,592,946 | 20,350 | 1,613,296 | |||||||||||||||||||||
Non-Guarantor Subsidiaries (Not 100% Owned) | 1,334,814 | — | 1,334,814 | |||||||||||||||||||||
Eliminations | (4,046,401 | ) | (825,256 | ) | (4,871,657 | ) | ||||||||||||||||||
Consolidated | $ | 5,741,731 | $ | — | $ | 5,741,731 | ||||||||||||||||||
(In thousands) | As Previously Reported | Adjustment | As Reclassified and Restated | |||||||||||||||||||||
Three Months Ended September 30, 2013 | ||||||||||||||||||||||||
Net income (loss) | ||||||||||||||||||||||||
Parent | $ | (37,267 | ) | $ | — | $ | (37,267 | ) | ||||||||||||||||
Guarantor Subsidiaries | 21,047 | (4,024 | ) | 17,023 | ||||||||||||||||||||
Non-Guarantor Subsidiaries (100% Owned) | (17,086 | ) | 1,084 | (16,002 | ) | |||||||||||||||||||
Non-Guarantor Subsidiaries (Not 100% Owned) | 5,432 | — | 5,432 | |||||||||||||||||||||
Eliminations | (6,721 | ) | 2,940 | (3,781 | ) | |||||||||||||||||||
Consolidated | $ | (34,595 | ) | $ | — | $ | (34,595 | ) | ||||||||||||||||
(In thousands) | As Previously Reported | Adjustment | As Reclassified and Restated | |||||||||||||||||||||
Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||
Net income (loss) | ||||||||||||||||||||||||
Parent | $ | (32,924 | ) | $ | — | $ | (32,924 | ) | ||||||||||||||||
Guarantor Subsidiaries | 109,280 | (8,958 | ) | 100,322 | ||||||||||||||||||||
Non-Guarantor Subsidiaries (100% Owned) | (4,266 | ) | (9,091 | ) | (13,357 | ) | ||||||||||||||||||
Non-Guarantor Subsidiaries (Not 100% Owned) | (15,552 | ) | — | (15,552 | ) | |||||||||||||||||||
Eliminations | (97,501 | ) | 18,049 | (79,452 | ) | |||||||||||||||||||
Consolidated | $ | (40,963 | ) | $ | — | $ | (40,963 | ) | ||||||||||||||||
(In thousands) | As Previously Reported | Adjustment | As Reclassified and Restated | |||||||||||||||||||||
Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||
Cash flows from operating activities | ||||||||||||||||||||||||
Parent | $ | 143,937 | $ | (348,905 | ) | $ | (204,968 | ) | ||||||||||||||||
Guarantor Subsidiaries | 16,964 | 331,703 | 348,667 | |||||||||||||||||||||
Non-Guarantor Subsidiaries (100% Owned) | 12,695 | 17,062 | 29,757 | |||||||||||||||||||||
Non-Guarantor Subsidiaries (Not 100% Owned) | 64,420 | (4,112 | ) | 60,308 | ||||||||||||||||||||
Eliminations | (4,233 | ) | 4,252 | 19 | ||||||||||||||||||||
Consolidated | $ | 233,783 | $ | — | $ | 233,783 | ||||||||||||||||||
Schedule of Condensed Balance Sheet | ' | |||||||||||||||||||||||
Condensed Consolidating Balance Sheets | ||||||||||||||||||||||||
September 30, 2014 | ||||||||||||||||||||||||
Non- | Non- | |||||||||||||||||||||||
Guarantor | Guarantor | |||||||||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||||||
Guarantor | (100% | (Not 100% | ||||||||||||||||||||||
(In thousands) | Parent | Subsidiaries | Owned) | Owned) | Eliminations | Consolidated | ||||||||||||||||||
Assets | ||||||||||||||||||||||||
Cash and cash equivalents | $ | 2 | $ | 91,028 | $ | 29,661 | $ | 219 | $ | — | $ | 120,910 | ||||||||||||
Other current assets | 7,391 | 73,633 | 30,061 | — | (1,544 | ) | 109,541 | |||||||||||||||||
Property and equipment, net | 56,617 | 1,773,400 | 448,837 | — | — | 2,278,854 | ||||||||||||||||||
Investments in subsidiaries | 3,340,711 | 177,048 | — | — | (3,296,359 | ) | 221,400 | |||||||||||||||||
Intercompany receivable | — | 1,644,006 | — | — | (1,644,006 | ) | — | |||||||||||||||||
Other assets, net | 37,872 | 6,638 | 66,146 | — | — | 110,656 | ||||||||||||||||||
Intangible assets, net | — | 463,910 | 519,000 | — | — | 982,910 | ||||||||||||||||||
Goodwill, net | — | 212,794 | 472,516 | — | — | 685,310 | ||||||||||||||||||
Total assets | $ | 3,442,593 | $ | 4,442,457 | $ | 1,566,221 | $ | 219 | $ | (4,941,909 | ) | $ | 4,509,581 | |||||||||||
Liabilities and Stockholders' | ||||||||||||||||||||||||
Equity | ||||||||||||||||||||||||
Current maturities of long-term debt | $ | 21,500 | $ | — | $ | 6,193 | $ | — | $ | — | $ | 27,693 | ||||||||||||
Other current liabilities | 52,748 | 190,007 | 80,349 | — | (510 | ) | 322,594 | |||||||||||||||||
Accumulated losses of subsidiaries in excess of investment | — | — | 228 | — | (228 | ) | — | |||||||||||||||||
Intercompany payable | 672,643 | — | 971,726 | 363 | (1,644,732 | ) | — | |||||||||||||||||
Long-term debt, net of current | 2,193,920 | — | 1,238,805 | — | — | 3,432,725 | ||||||||||||||||||
maturities | ||||||||||||||||||||||||
Other long-term liabilities | 39,225 | 180,754 | 43,983 | — | — | 263,962 | ||||||||||||||||||
Common stock | 1,084 | 31,124 | (27 | ) | — | (31,097 | ) | 1,084 | ||||||||||||||||
Additional paid-in capital | 914,391 | 2,717,796 | 248,203 | 4,250 | (2,970,249 | ) | 914,391 | |||||||||||||||||
Retained earnings (deficit) | (452,692 | ) | 1,323,001 | (1,023,014 | ) | (4,394 | ) | (295,593 | ) | (452,692 | ) | |||||||||||||
Accumulated other | (226 | ) | (225 | ) | (225 | ) | — | 450 | (226 | ) | ||||||||||||||
comprehensive loss, net | ||||||||||||||||||||||||
Total Boyd Gaming Corporation | 462,557 | 4,071,696 | (775,063 | ) | (144 | ) | (3,296,489 | ) | 462,557 | |||||||||||||||
stockholders' equity (deficit) | ||||||||||||||||||||||||
Noncontrolling interest | — | — | — | — | 50 | 50 | ||||||||||||||||||
Total stockholders' equity (deficit) | 462,557 | 4,071,696 | (775,063 | ) | (144 | ) | (3,296,439 | ) | 462,607 | |||||||||||||||
Total liabilities and stockholders' | $ | 3,442,593 | $ | 4,442,457 | $ | 1,566,221 | $ | 219 | $ | (4,941,909 | ) | $ | 4,509,581 | |||||||||||
equity | ||||||||||||||||||||||||
Condensed Consolidating Balance Sheets - continued | ||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Non- | Non- | |||||||||||||||||||||||
Guarantor | Guarantor | |||||||||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||||||
Guarantor | (100% | (Not 100% | ||||||||||||||||||||||
(In thousands) | Parent | Subsidiaries | Owned) | Owned) | Eliminations | Consolidated | ||||||||||||||||||
Assets | ||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | 106,445 | $ | 33,766 | $ | 37,627 | $ | — | $ | 177,838 | ||||||||||||
Other current assets | 13,772 | 67,991 | 28,639 | 48,414 | (1,974 | ) | 156,842 | |||||||||||||||||
Property and equipment, net | 69,309 | 1,808,450 | 460,789 | 1,167,065 | — | 3,505,613 | ||||||||||||||||||
Investments in subsidiaries | 3,265,579 | 129,692 | — | — | (3,395,271 | ) | — | |||||||||||||||||
Intercompany receivable | — | 1,474,412 | — | — | (1,474,412 | ) | — | |||||||||||||||||
Other assets, net | 43,470 | 8,105 | 72,185 | 21,708 | — | 145,468 | ||||||||||||||||||
Intangible assets, net | — | 465,259 | 545,401 | 60,000 | — | 1,070,660 | ||||||||||||||||||
Goodwill, net | — | 212,794 | 472,516 | — | — | 685,310 | ||||||||||||||||||
Total assets | $ | 3,392,130 | $ | 4,273,148 | $ | 1,613,296 | $ | 1,334,814 | $ | (4,871,657 | ) | $ | 5,741,731 | |||||||||||
Liabilities and Stockholders' | ||||||||||||||||||||||||
Equity | ||||||||||||||||||||||||
Current maturities of long-term debt | $ | 21,500 | $ | — | $ | 8,259 | $ | 3,800 | $ | — | $ | 33,559 | ||||||||||||
Other current liabilities | 57,156 | 186,539 | 70,678 | 103,833 | 2,098 | 420,304 | ||||||||||||||||||
Accumulated losses of subsidiaries in excess of investment | — | — | 2,026 | — | (2,026 | ) | — | |||||||||||||||||
Intercompany payable | 512,358 | — | 966,128 | 265 | (1,478,751 | ) | — | |||||||||||||||||
Long-term debt, net of current maturities | 2,285,910 | — | 1,269,562 | 797,460 | — | 4,352,932 | ||||||||||||||||||
Other long-term liabilities | 45,219 | 178,764 | 33,297 | 27,219 | — | 284,499 | ||||||||||||||||||
Common stock | 1,082 | 31,124 | (27 | ) | — | (31,097 | ) | 1,082 | ||||||||||||||||
Additional paid-in capital | 902,496 | 2,736,895 | 248,083 | 480,833 | (3,465,811 | ) | 902,496 | |||||||||||||||||
Retained earnings (deficit) | (432,074 | ) | 1,139,826 | (983,193 | ) | (78,596 | ) | (78,037 | ) | (432,074 | ) | |||||||||||||
Accumulated other comprehensive loss, net | (1,517 | ) | — | (1,517 | ) | — | 1,517 | (1,517 | ) | |||||||||||||||
Total Boyd Gaming Corporation stockholders' equity (deficit) | 469,987 | 3,907,845 | (736,654 | ) | 402,237 | (3,573,428 | ) | 469,987 | ||||||||||||||||
Noncontrolling interest | — | — | — | — | 180,450 | 180,450 | ||||||||||||||||||
Total stockholders' equity (deficit) | 469,987 | 3,907,845 | (736,654 | ) | 402,237 | (3,392,978 | ) | 650,437 | ||||||||||||||||
Total liabilities and stockholders' equity | $ | 3,392,130 | $ | 4,273,148 | $ | 1,613,296 | $ | 1,334,814 | $ | (4,871,657 | ) | $ | 5,741,731 | |||||||||||
Schedule of Condensed Income Statement | ' | |||||||||||||||||||||||
Condensed Consolidating Statements of Operations | ||||||||||||||||||||||||
Three Months Ended September 30, 2014 | ||||||||||||||||||||||||
Non- | Non- | |||||||||||||||||||||||
Guarantor | Guarantor | |||||||||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||||||
Guarantor | (100% | (Not 100% | ||||||||||||||||||||||
(In thousands) | Parent | Subsidiaries | Owned) | Owned) | Eliminations | Consolidated | ||||||||||||||||||
Net revenues | $ | 28,690 | $ | 398,573 | $ | 135,380 | $ | 209,946 | $ | (33,746 | ) | $ | 738,843 | |||||||||||
Costs and expenses | ||||||||||||||||||||||||
Operating | 450 | 220,640 | 76,790 | 105,982 | — | 403,862 | ||||||||||||||||||
Selling, general and | 11,665 | 55,703 | 14,164 | 31,973 | (69 | ) | 113,436 | |||||||||||||||||
administrative | ||||||||||||||||||||||||
Maintenance and utilities | — | 25,967 | 3,967 | 15,116 | — | 45,050 | ||||||||||||||||||
Depreciation and amortization | 1,246 | 31,475 | 19,309 | 14,138 | — | 66,168 | ||||||||||||||||||
Corporate expense | 14,060 | 57 | 947 | — | — | 15,064 | ||||||||||||||||||
Preopening expenses | 2 | — | 1,245 | 15 | — | 1,262 | ||||||||||||||||||
Impairments of assets | — | 12,098 | 6,181 | — | — | 18,279 | ||||||||||||||||||
Asset transactions costs | (1 | ) | 1,852 | 838 | 375 | — | 3,064 | |||||||||||||||||
Other operating items, net | 592 | — | 1 | (1,709 | ) | — | (1,116 | ) | ||||||||||||||||
Intercompany expenses | 301 | 28,398 | 4,978 | — | (33,677 | ) | — | |||||||||||||||||
Total costs and expenses | 28,315 | 376,190 | 128,420 | 165,890 | (33,746 | ) | 665,069 | |||||||||||||||||
Equity in earnings of subsidiaries | 18,973 | 12 | (15 | ) | — | (18,970 | ) | — | ||||||||||||||||
Operating income (loss) | 19,348 | 22,395 | 6,945 | 44,056 | (18,970 | ) | 73,774 | |||||||||||||||||
Other expense (income) | ||||||||||||||||||||||||
Interest expense, net | 33,230 | 1,254 | 22,661 | 17,809 | — | 74,954 | ||||||||||||||||||
Loss on early extinguishments of debt | — | — | 71 | — | — | 71 | ||||||||||||||||||
Other, net | — | — | 116 | — | — | 116 | ||||||||||||||||||
Total other expense, net | 33,230 | 1,254 | 22,848 | 17,809 | — | 75,141 | ||||||||||||||||||
Income (loss) before income taxes | (13,882 | ) | 21,141 | (15,903 | ) | 26,247 | (18,970 | ) | (1,367 | ) | ||||||||||||||
Income taxes benefit (expense) | (1,223 | ) | 5,829 | (3,858 | ) | (2,709 | ) | — | (1,961 | ) | ||||||||||||||
Net income (loss) | (15,105 | ) | 26,970 | (19,761 | ) | 23,538 | (18,970 | ) | (3,328 | ) | ||||||||||||||
Net loss attributable to | — | — | — | — | (11,777 | ) | (11,777 | ) | ||||||||||||||||
noncontrolling interest | ||||||||||||||||||||||||
Net income (loss) attributable to | $ | (15,105 | ) | $ | 26,970 | $ | (19,761 | ) | $ | 23,538 | $ | (30,747 | ) | $ | (15,105 | ) | ||||||||
controlling interest | ||||||||||||||||||||||||
Comprehensive income (loss) | $ | (14,424 | ) | $ | 27,651 | $ | (19,080 | ) | $ | 23,538 | $ | (20,332 | ) | $ | (2,647 | ) | ||||||||
Condensed Consolidating Statements of Operations - continued | ||||||||||||||||||||||||
Three Months Ended September 30, 2013 | ||||||||||||||||||||||||
Non- | Non- | |||||||||||||||||||||||
Guarantor | Guarantor | |||||||||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||||||
Guarantor | (100% | (Not 100% | ||||||||||||||||||||||
(In thousands) | Parent | Subsidiaries | Owned) | Owned) | Eliminations | Consolidated | ||||||||||||||||||
Net revenues | $ | 32,018 | $ | 400,874 | $ | 143,022 | $ | 200,051 | $ | (37,396 | ) | $ | 738,569 | |||||||||||
Costs and expenses | ||||||||||||||||||||||||
Operating | 462 | 223,748 | 80,857 | 100,573 | — | 405,640 | ||||||||||||||||||
Selling, general and | 11,698 | 58,809 | 15,510 | 36,830 | (10 | ) | 122,837 | |||||||||||||||||
administrative | ||||||||||||||||||||||||
Maintenance and utilities | — | 25,639 | 4,040 | 16,056 | — | 45,735 | ||||||||||||||||||
Depreciation and amortization | 1,610 | 30,281 | 22,774 | 14,337 | — | 69,002 | ||||||||||||||||||
Corporate expense | 11,423 | (7 | ) | 668 | — | — | 12,084 | |||||||||||||||||
Preopening expense | (537 | ) | — | 1,883 | 329 | — | 1,675 | |||||||||||||||||
Impairments of assets | — | — | 1,250 | — | — | 1,250 | ||||||||||||||||||
Asset transactions costs | (1,692 | ) | 232 | 299 | (201 | ) | — | (1,362 | ) | |||||||||||||||
Other operating items, net | 134 | 43 | 63 | 3,146 | — | 3,386 | ||||||||||||||||||
Intercompany expenses | 301 | 31,768 | 5,317 | — | (37,386 | ) | — | |||||||||||||||||
Total costs and expenses | 23,399 | 370,513 | 132,661 | 171,070 | (37,396 | ) | 660,247 | |||||||||||||||||
Equity in earnings of subsidiaries | 16,822 | (13,041 | ) | — | — | (3,781 | ) | — | ||||||||||||||||
Operating income (loss) | 25,441 | 17,320 | 10,361 | 28,981 | (3,781 | ) | 78,322 | |||||||||||||||||
Other expense (income) | ||||||||||||||||||||||||
Interest expense, net | 36,936 | 2,270 | 23,104 | 20,282 | — | 82,592 | ||||||||||||||||||
Loss on early extinguishments of debt | 24,605 | — | — | 2,536 | — | 27,141 | ||||||||||||||||||
Other, net | 136 | — | — | — | — | 136 | ||||||||||||||||||
Total other expense, net | 61,677 | 2,270 | 23,104 | 22,818 | — | 109,869 | ||||||||||||||||||
Income (loss) from continuing | (36,236 | ) | 15,050 | (12,743 | ) | 6,163 | (3,781 | ) | (31,547 | ) | ||||||||||||||
operations before income taxes | ||||||||||||||||||||||||
Income taxes benefit (expense) | (1,031 | ) | 1,973 | (3,259 | ) | (731 | ) | — | (3,048 | ) | ||||||||||||||
Income (loss) from continuing | (37,267 | ) | 17,023 | (16,002 | ) | 5,432 | (3,781 | ) | (34,595 | ) | ||||||||||||||
operations, net of tax | ||||||||||||||||||||||||
Income (loss) from discontinued | — | — | — | — | — | — | ||||||||||||||||||
operations, net of tax | ||||||||||||||||||||||||
Net income (loss) | (37,267 | ) | 17,023 | (16,002 | ) | 5,432 | (3,781 | ) | (34,595 | ) | ||||||||||||||
Net income attributable to | — | — | — | — | (2,672 | ) | (2,672 | ) | ||||||||||||||||
noncontrolling interest | ||||||||||||||||||||||||
Net income (loss) attributable to | $ | (37,267 | ) | $ | 17,023 | $ | (16,002 | ) | $ | 5,432 | $ | (6,453 | ) | $ | (37,267 | ) | ||||||||
controlling interest | ||||||||||||||||||||||||
Comprehensive income (loss) | $ | (37,216 | ) | $ | 17,074 | $ | (15,951 | ) | $ | 5,432 | $ | (3,882 | ) | $ | (34,543 | ) | ||||||||
Condensed Consolidating Statements of Operations - continued | ||||||||||||||||||||||||
Nine Months Ended September 30, 2014 | ||||||||||||||||||||||||
Non- | Non- | |||||||||||||||||||||||
Guarantor | Guarantor | |||||||||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||||||
Guarantor | (100% | (Not 100% | ||||||||||||||||||||||
(In thousands) | Parent | Subsidiaries | Owned) | Owned) | Eliminations | Consolidated | ||||||||||||||||||
Net revenues | $ | 87,719 | $ | 1,215,918 | $ | 410,235 | $ | 559,064 | $ | (103,210 | ) | $ | 2,169,726 | |||||||||||
Costs and expenses | ||||||||||||||||||||||||
Operating | 1,350 | 660,321 | 229,844 | 290,005 | — | 1,181,520 | ||||||||||||||||||
Selling, general and | 35,010 | 169,837 | 42,859 | 101,930 | (142 | ) | 349,494 | |||||||||||||||||
administrative | ||||||||||||||||||||||||
Maintenance and utilities | — | 72,855 | 11,271 | 47,211 | — | 131,337 | ||||||||||||||||||
Depreciation and amortization | 4,399 | 94,351 | 57,366 | 42,129 | — | 198,245 | ||||||||||||||||||
Corporate expense | 49,884 | 167 | 2,554 | — | — | 52,605 | ||||||||||||||||||
Preopening expense | 44 | 6 | 3,389 | 397 | — | 3,836 | ||||||||||||||||||
Impairments of assets | 320 | 13,116 | 6,769 | — | — | 20,205 | ||||||||||||||||||
Asset transactions costs | 57 | 3,341 | 1,306 | 374 | — | 5,078 | ||||||||||||||||||
Other operating items, net | 164 | — | 84 | (2,111 | ) | — | (1,863 | ) | ||||||||||||||||
Intercompany expenses | 903 | 86,946 | 15,219 | — | (103,068 | ) | — | |||||||||||||||||
Total costs and expenses | 92,131 | 1,100,940 | 370,661 | 479,935 | (103,210 | ) | 1,940,457 | |||||||||||||||||
Equity in earnings of subsidiaries | 84,689 | (9,127 | ) | (128 | ) | — | (75,434 | ) | — | |||||||||||||||
Operating income (loss) | 80,277 | 105,851 | 39,446 | 79,129 | (75,434 | ) | 229,269 | |||||||||||||||||
Other expense (income) | ||||||||||||||||||||||||
Interest expense, net | 99,045 | 4,542 | 67,893 | 53,327 | — | 224,807 | ||||||||||||||||||
Loss on early extinguishments of debt | — | — | 1,129 | — | — | 1,129 | ||||||||||||||||||
Other, net | — | — | 498 | — | — | 498 | ||||||||||||||||||
Total other expense, net | 99,045 | 4,542 | 69,520 | 53,327 | — | 226,434 | ||||||||||||||||||
Income (loss) before income taxes | (18,768 | ) | 101,309 | (30,074 | ) | 25,802 | (75,434 | ) | 2,835 | |||||||||||||||
Income taxes benefit (expense) | (1,850 | ) | 4,377 | (11,452 | ) | (3,125 | ) | — | (12,050 | ) | ||||||||||||||
Net income (loss) | (20,618 | ) | 105,686 | (41,526 | ) | 22,677 | (75,434 | ) | (9,215 | ) | ||||||||||||||
Net loss attributable to | — | — | — | — | (11,403 | ) | (11,403 | ) | ||||||||||||||||
noncontrolling interest | ||||||||||||||||||||||||
Net income (loss) attributable to | $ | (20,618 | ) | $ | 105,686 | $ | (41,526 | ) | $ | 22,677 | $ | (86,837 | ) | $ | (20,618 | ) | ||||||||
controlling interest | ||||||||||||||||||||||||
Comprehensive income (loss) | $ | (19,327 | ) | $ | 106,977 | $ | (40,235 | ) | $ | 22,677 | $ | (78,016 | ) | $ | (7,924 | ) | ||||||||
Condensed Consolidating Statements of Operations - continued | ||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||
Non- | Non- | |||||||||||||||||||||||
Guarantor | Guarantor | |||||||||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||||||
Guarantor | (100% | (Not 100% | ||||||||||||||||||||||
(In thousands) | Parent | Subsidiaries | Owned) | Owned) | Eliminations | Consolidated | ||||||||||||||||||
Net revenues | $ | 106,132 | $ | 1,253,582 | $ | 437,395 | $ | 540,505 | $ | (124,713 | ) | $ | 2,212,901 | |||||||||||
Costs and expenses | ||||||||||||||||||||||||
Operating | 1,386 | 680,970 | 241,394 | 279,676 | — | 1,203,426 | ||||||||||||||||||
Selling, general and administrative | 35,183 | 179,365 | 48,131 | 111,227 | (41 | ) | 373,865 | |||||||||||||||||
Maintenance and utilities | — | 70,087 | 11,073 | 44,826 | — | 125,986 | ||||||||||||||||||
Depreciation and amortization | 5,008 | 90,992 | 67,910 | 45,448 | — | 209,358 | ||||||||||||||||||
Corporate expense | 39,463 | 87 | 3,038 | — | — | 42,588 | ||||||||||||||||||
Preopening expense | 563 | — | 5,812 | 387 | (1,933 | ) | 4,829 | |||||||||||||||||
Impairments of assets | — | 12,734 | 1,250 | 5,032 | (12,734 | ) | 6,282 | |||||||||||||||||
Asset transactions costs | 1,043 | 300 | 717 | 205 | — | 2,265 | ||||||||||||||||||
Other operating items, net | 412 | 1,396 | 227 | 3,146 | — | 5,181 | ||||||||||||||||||
Intercompany expenses | 912 | 105,158 | 16,669 | — | (122,739 | ) | — | |||||||||||||||||
Total costs and expenses | 83,970 | 1,141,089 | 396,221 | 489,947 | (137,447 | ) | 1,973,780 | |||||||||||||||||
Equity in earnings of subsidiaries | 89,932 | (10,480 | ) | — | — | (79,452 | ) | — | ||||||||||||||||
Operating income (loss) | 112,094 | 102,013 | 41,174 | 50,558 | (66,718 | ) | 239,121 | |||||||||||||||||
Other expense (income) | ||||||||||||||||||||||||
Interest expense, net | 121,004 | 7,630 | 72,264 | 64,276 | — | 265,174 | ||||||||||||||||||
Loss on early extinguishments of debt | 25,001 | — | 1,976 | 2,536 | — | 29,513 | ||||||||||||||||||
Other income | 136 | — | (471 | ) | — | — | (335 | ) | ||||||||||||||||
Total other expense, net | 146,141 | 7,630 | 73,769 | 66,812 | — | 294,352 | ||||||||||||||||||
Income (loss) from continuing | (34,047 | ) | 94,383 | (32,595 | ) | (16,254 | ) | (66,718 | ) | (55,231 | ) | |||||||||||||
operations before income taxes | ||||||||||||||||||||||||
Income taxes benefit (expense) | 1,123 | 5,939 | (4,286 | ) | 702 | — | 3,478 | |||||||||||||||||
Income (loss) from continuing | (32,924 | ) | 100,322 | (36,881 | ) | (15,552 | ) | (66,718 | ) | (51,753 | ) | |||||||||||||
operations, net of tax | ||||||||||||||||||||||||
Income (loss) from discontinued | — | — | 23,524 | — | (12,734 | ) | 10,790 | |||||||||||||||||
operations, net of tax | ||||||||||||||||||||||||
Net income (loss) | (32,924 | ) | 100,322 | (13,357 | ) | (15,552 | ) | (79,452 | ) | (40,963 | ) | |||||||||||||
Net loss attributable to | — | — | — | — | 8,039 | 8,039 | ||||||||||||||||||
noncontrolling interest | ||||||||||||||||||||||||
Net income (loss) attributable to | $ | (32,924 | ) | $ | 100,322 | $ | (13,357 | ) | $ | (15,552 | ) | $ | (71,413 | ) | $ | (32,924 | ) | |||||||
controlling interest | ||||||||||||||||||||||||
Comprehensive income (loss) | $ | (32,757 | ) | $ | 100,489 | $ | (13,190 | ) | $ | (15,552 | ) | $ | (79,786 | ) | $ | (40,796 | ) | |||||||
Schedule of Condensed Cash Flow Statement | ' | |||||||||||||||||||||||
Condensed Consolidating Statements of Cash Flows | ||||||||||||||||||||||||
Nine Months Ended September 30, 2014 | ||||||||||||||||||||||||
Non- | Non- | |||||||||||||||||||||||
Guarantor | Guarantor | |||||||||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||||||
Guarantor | (100% | (Not 100% | ||||||||||||||||||||||
(In thousands) | Parent | Subsidiaries | Owned) | Owned) | Eliminations | Consolidated | ||||||||||||||||||
Cash flows from operating activities | ||||||||||||||||||||||||
Net cash from operating activities | $ | (43,397 | ) | $ | 188,817 | $ | 54,828 | $ | 35,866 | $ | (3,613 | ) | $ | 232,501 | ||||||||||
Cash flows from investing activities | ||||||||||||||||||||||||
Capital expenditures | (24,090 | ) | (36,269 | ) | (22,635 | ) | (11,623 | ) | — | (94,617 | ) | |||||||||||||
Deconsolidation of Borgata | — | — | — | (26,891 | ) | — | (26,891 | ) | ||||||||||||||||
Net activity with affiliates | — | (169,594 | ) | 5,598 | 98 | 163,898 | — | |||||||||||||||||
Other investing activities | — | 1,629 | (639 | ) | 2,197 | — | 3,187 | |||||||||||||||||
Net cash from investing activities | (24,090 | ) | (204,234 | ) | (17,676 | ) | (36,219 | ) | 163,898 | (118,321 | ) | |||||||||||||
Cash flows from financing activities | ||||||||||||||||||||||||
Borrowings under bank credit facility | 605,000 | — | 242,100 | 410,900 | — | 1,258,000 | ||||||||||||||||||
Payments under bank credit facility | (698,400 | ) | — | (283,350 | ) | (444,900 | ) | — | (1,426,650 | ) | ||||||||||||||
Debt financing costs | (84 | ) | — | — | (205 | ) | — | (289 | ) | |||||||||||||||
Payments on long-term debt | — | — | (7 | ) | — | — | (7 | ) | ||||||||||||||||
Payments on retirements of long-term debt | — | — | — | (2,850 | ) | — | (2,850 | ) | ||||||||||||||||
Net activity with affiliates | 160,285 | — | — | — | (160,285 | ) | — | |||||||||||||||||
Stock options exercised | 984 | — | — | — | — | 984 | ||||||||||||||||||
Restricted stock units released, net | (201 | ) | — | — | — | — | (201 | ) | ||||||||||||||||
Other financing activities | (95 | ) | — | — | — | — | (95 | ) | ||||||||||||||||
Net cash from financing activities | 67,489 | — | (41,257 | ) | (37,055 | ) | (160,285 | ) | (171,108 | ) | ||||||||||||||
Net change in cash and cash | 2 | (15,417 | ) | (4,105 | ) | (37,408 | ) | — | (56,928 | ) | ||||||||||||||
equivalents | ||||||||||||||||||||||||
Cash and cash equivalents, beginning | — | 106,445 | 33,766 | 37,627 | — | 177,838 | ||||||||||||||||||
of period | ||||||||||||||||||||||||
Cash and cash equivalents, end of | $ | 2 | $ | 91,028 | $ | 29,661 | $ | 219 | $ | — | $ | 120,910 | ||||||||||||
period | ||||||||||||||||||||||||
Condensed Consolidating Statements of Cash Flows - continued | ||||||||||||||||||||||||
Nine Months Ended September 30, 2013 | ||||||||||||||||||||||||
Non- | Non- | |||||||||||||||||||||||
Guarantor | Guarantor | |||||||||||||||||||||||
Subsidiaries | Subsidiaries | |||||||||||||||||||||||
Guarantor | (100% | (Not 100% | ||||||||||||||||||||||
(In thousands) | Parent | Subsidiaries | Owned) | Owned) | Eliminations | Consolidated | ||||||||||||||||||
Cash flows from operating activities | ||||||||||||||||||||||||
Net cash from operating activities | $ | (204,968 | ) | $ | 348,667 | $ | 29,757 | $ | 60,308 | $ | 19 | $ | 233,783 | |||||||||||
Cash flows from investing activities | ||||||||||||||||||||||||
Capital expenditures | (22,927 | ) | (36,191 | ) | (25,102 | ) | (16,398 | ) | — | (100,618 | ) | |||||||||||||
Proceeds from sale of Echelon, net | 343,750 | — | — | — | — | 343,750 | ||||||||||||||||||
Proceeds from sale of other assets, net | 4,875 | — | — | — | — | 4,875 | ||||||||||||||||||
Cash paid for exercise of LVE option | (187,000 | ) | — | — | — | — | (187,000 | ) | ||||||||||||||||
Investments in and advances to unconsolidated subsidiaries, net | (4,233 | ) | — | — | — | 4,233 | — | |||||||||||||||||
Net activity with affiliates | — | (331,703 | ) | (17,067 | ) | (121 | ) | 348,891 | — | |||||||||||||||
Distributions from subsidiary | 9,500 | — | — | — | (9,500 | ) | — | |||||||||||||||||
Other investing activities | — | — | 222 | (24 | ) | 198 | ||||||||||||||||||
Net cash from investing activities | 143,965 | (367,894 | ) | (41,947 | ) | (16,543 | ) | 343,624 | 61,205 | |||||||||||||||
Cash flows from financing activities | ||||||||||||||||||||||||
Borrowings under bank credit facility | 2,711,375 | — | 268,500 | 297,100 | — | 3,276,975 | ||||||||||||||||||
Payments under bank credit facility | (2,738,325 | ) | — | (296,688 | ) | (300,800 | ) | — | (3,335,813 | ) | ||||||||||||||
Debt financing costs | (23,562 | ) | — | (10,288 | ) | (2,546 | ) | — | (36,396 | ) | ||||||||||||||
Payments on long-term debt | (10,341 | ) | — | (477 | ) | — | — | (10,818 | ) | |||||||||||||||
Payments on retirements of long-term debt | (459,278 | ) | — | — | (40,994 | ) | — | (500,272 | ) | |||||||||||||||
Advances from parent | — | — | — | 4,233 | (4,233 | ) | — | |||||||||||||||||
Net activity with affiliates | 348,910 | — | — | — | (348,910 | ) | — | |||||||||||||||||
Distributions to parent | — | — | (9,500 | ) | — | 9,500 | — | |||||||||||||||||
Stock options exercised | 13,591 | — | — | — | — | 13,591 | ||||||||||||||||||
Restricted stock units released, net | (354 | ) | — | — | — | — | (354 | ) | ||||||||||||||||
Proceeds from sale of common stock | 216,467 | — | — | — | — | 216,467 | ||||||||||||||||||
Net cash from financing activities | 58,483 | — | (48,453 | ) | (43,007 | ) | (343,643 | ) | (376,620 | ) | ||||||||||||||
Cash flows from discontinued | ||||||||||||||||||||||||
operations | ||||||||||||||||||||||||
Cash flows from operating activities | — | — | (2,144 | ) | — | — | (2,144 | ) | ||||||||||||||||
Cash flows from investing activities | — | — | 56,751 | — | — | 56,751 | ||||||||||||||||||
Cash flows from financing activities | — | — | — | — | — | — | ||||||||||||||||||
Net cash from discontinued | — | — | 54,607 | — | — | 54,607 | ||||||||||||||||||
operations | ||||||||||||||||||||||||
Net change in cash and cash | (2,520 | ) | (19,227 | ) | (6,036 | ) | 758 | — | (27,025 | ) | ||||||||||||||
equivalents | ||||||||||||||||||||||||
Cash and cash equivalents, beginning | 2,520 | 118,714 | 36,619 | 34,692 | — | 192,545 | ||||||||||||||||||
of period | ||||||||||||||||||||||||
Change in cash classified as discontinued operations | — | — | 283 | — | — | 283 | ||||||||||||||||||
Cash and cash equivalents, end of | $ | — | $ | 99,487 | $ | 30,866 | $ | 35,450 | $ | — | $ | 165,803 | ||||||||||||
period | ||||||||||||||||||||||||
Organization_and_Basis_of_Pres1
Organization and Basis of Presentation (Details) | 3 Months Ended | |
Sep. 30, 2014 | Jan. 31, 2010 | |
property | Subsidiary, Borgata | |
entity | ||
Consolidated Entities [Line Items] | ' | ' |
Number of gaming entertainment properties | 21 | ' |
Number of controlling interests held | 1 | ' |
Equity Method Investment, Ownership Percentage | ' | 50.00% |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies (Promotional Allowances) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Allowances [Line Items] | ' | ' | ' | ' |
Promotional allowances | $127,668 | $125,172 | $356,327 | $348,121 |
Cost of promotional allowances | 68,724 | 69,112 | 195,044 | 197,998 |
Rooms | ' | ' | ' | ' |
Allowances [Line Items] | ' | ' | ' | ' |
Promotional allowances | 40,420 | 39,296 | 112,825 | 109,737 |
Cost of promotional allowances | 15,371 | 15,361 | 43,956 | 44,505 |
Food and Beverage | ' | ' | ' | ' |
Allowances [Line Items] | ' | ' | ' | ' |
Promotional allowances | 53,247 | 52,708 | 152,462 | 153,361 |
Cost of promotional allowances | 46,841 | 47,252 | 133,889 | 136,435 |
Other Products and Services | ' | ' | ' | ' |
Allowances [Line Items] | ' | ' | ' | ' |
Promotional allowances | 34,001 | 33,168 | 91,040 | 85,023 |
Cost of promotional allowances | $6,512 | $6,499 | $17,199 | $17,058 |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies (Weighted Average Shares Outstanding) (Details) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Accounting Policies [Abstract] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 904,626 | 952,752 | 926,098 | 942,396 |
Weighted average shares outstanding: | ' | ' | ' | ' |
Basic | 109,923 | 101,555 | 109,854 | 93,122 |
Weighted average diluted shares outstanding | 109,923 | 101,555 | 109,854 | 93,122 |
Summary_of_Significant_Account5
Summary of Significant Accounting Policies (Gaming Taxes) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Accounting Policies [Abstract] | ' | ' | ' | ' |
Gaming taxes | $96.80 | $99.20 | $289.40 | $303.30 |
Summary_of_Significant_Account6
Summary of Significant Accounting Policies Net Loss per Share (Details) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 904,626 | 952,752 | 926,098 | 942,396 |
Disposition_Disposition_Detail
Disposition (Disposition) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Business Acquisition [Line Items] | ' | ' | ' | ' |
Net revenues | $738,843 | $738,569 | $2,169,726 | $2,212,901 |
Net income (loss) attributable to Boyd Gaming Corporation | ($15,105) | ($37,267) | ($20,618) | ($32,924) |
Disposition_Real_Estate_Dispos
Disposition (Real Estate Dispositions) (Details) (USD $) | 0 Months Ended | 3 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | ||
23-May-13 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | 23-May-13 | Sep. 30, 2012 | |
Dania Jai-Alai | Dania Jai-Alai | ||||||
Disposition of Dania Jai-Alai | ' | ' | ' | ' | ' | ' | ' |
Divestiture of Business Unit, Consideration Received | ' | ' | ' | ' | ' | $65,500,000 | ' |
Discontinued Operation, Intercompany Amounts with Discontinued Operation before Disposal Transaction, Revenue | ' | ' | ' | ' | ' | ' | 5,000,000 |
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | ' | ' | ' | ' | ' | ' | 2,000,000 |
Proceeds from Divestiture of Businesses | ' | ' | ' | ' | ' | 58,500,000 | ' |
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax | 18,900,000 | ' | ' | ' | ' | ' | ' |
Income Statement Disclosures | ' | ' | ' | ' | ' | ' | ' |
(Loss) income from discontinued operations, net of tax | ' | $0 | $0 | $0 | $10,790,000 | ' | ' |
Deconsolidation_of_Certain_Int1
Deconsolidation of Certain Interests (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | |||||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Jan. 31, 2010 | Mar. 04, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | |
Subsidiary, Borgata | Subsidiary, Borgata | Echelon Central Energy Facility [Member] | Borgata | Borgata | Unallocated to Segment | Unallocated to Segment | Unallocated to Segment | ||||||
Variable Interest Entity, Primary Beneficiary [Member] | Deconsolidation of Borgata [Member] | ||||||||||||
Consolidated Entities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assets, Current | $230,451,000 | ' | $230,451,000 | ' | $334,680,000 | $98,119,000 | ' | ' | ' | ' | ' | ' | ' |
Long-Lived Assets | ' | ' | ' | ' | ' | 1,220,036,000 | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investment, Ownership Percentage | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' |
Impairments of assets | 18,279,000 | 1,250,000 | 20,205,000 | 8,198,000 | ' | ' | ' | ' | ' | ' | 20,205,000 | 6,282,000 | 12,100,000 |
Investments in Subsidiaries | 221,400,000 | ' | 221,400,000 | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase Price for VIE Assets | ' | ' | ' | ' | ' | ' | ' | 187,000,000 | ' | ' | ' | ' | ' |
Assets | 4,509,581,000 | ' | 4,509,581,000 | ' | 5,741,731,000 | 1,318,155,000 | ' | ' | 0 | 1,334,714,000 | ' | ' | ' |
Liabilities, Current | 350,287,000 | ' | 350,287,000 | ' | 453,863,000 | 106,666,000 | ' | ' | ' | ' | ' | ' | ' |
Other Long-term Liabilities | ' | ' | ' | ' | ' | 786,278,000 | ' | ' | ' | ' | ' | ' | ' |
Stockholders' Equity Attributable to Noncontrolling Interest | ' | ' | ' | ' | ' | 191,833,000 | ' | ' | ' | ' | ' | ' | ' |
Liabilities and noncontrolling interest | ' | ' | ' | ' | ' | $1,084,777,000 | ' | ' | ' | ' | ' | ' | ' |
Property_and_Equipment_Net_Det
Property and Equipment, Net (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' |
Property and equipment, gross | $4,092,665,000 | ' | $4,092,665,000 | ' | $5,803,274,000 |
Less accumulated depreciation | 1,813,811,000 | ' | 1,813,811,000 | ' | 2,297,661,000 |
Property and equipment, net | 2,278,854,000 | ' | 2,278,854,000 | ' | 3,505,613,000 |
Depreciation expense | 57,500,000 | 56,900,000 | 172,600,000 | 173,600,000 | ' |
Land | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' |
Property and equipment, gross | 229,684,000 | ' | 229,684,000 | ' | 336,079,000 |
Buildings and Improvements | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' |
Property and equipment, gross | 2,508,826,000 | ' | 2,508,826,000 | ' | 3,852,039,000 |
Furniture and Fixtures [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' |
Property and equipment, gross | 1,067,571,000 | ' | 1,067,571,000 | ' | 1,332,090,000 |
Riverboats and Barges | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' |
Property and equipment, gross | 189,536,000 | ' | 189,536,000 | ' | 189,175,000 |
Construction in Progress | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' |
Property and equipment, gross | 82,493,000 | ' | 82,493,000 | ' | 72,141,000 |
Other | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' |
Property and equipment, gross | $14,555,000 | ' | $14,555,000 | ' | $21,750,000 |
Intangible_Assets_Summary_of_A
Intangible Assets (Summary of Amortizing and Indefinite-Lived Intangibles) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Customer Relationships [Member] | Customer Relationships [Member] | Off-Market Favorable Lease [Member] | Off-Market Favorable Lease [Member] | Non-Competition Agreement | Development Agreement | Development Agreement | Trademarks | Trademarks | Gaming License Rights | Gaming License Rights | ||
Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intangible assets, gross | $1,305,379 | $1,375,565 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intangible assets, cumulative amortization | -138,369 | -115,805 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intangible assets, cumulative impairment | -184,100 | -189,100 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intangible assets, net | 982,910 | 1,070,660 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortizing intangibles: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average life | ' | ' | '2 years 9 months | '3 years 7 months | '32 years 8 months | '34 years 4 months 24 days | '0 years | '0 years | '0 years | ' | ' | ' | ' |
Gross carrying value | 220,743 | 223,943 | 154,000 | 154,000 | 45,370 | 45,370 | 3,200 | 21,373 | 21,373 | ' | ' | ' | ' |
Cumulative amortization | -104,409 | -81,845 | -93,715 | -68,733 | -10,694 | -9,912 | -3,200 | 0 | 0 | ' | ' | ' | ' |
Cumulative impairment losses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ' | ' | ' | ' |
Intangible assets, net | 116,334 | 142,098 | 60,285 | 85,267 | 34,676 | 35,458 | 0 | 21,373 | 21,373 | ' | ' | ' | ' |
Indefinite lived intangible assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gross carrying value | 1,084,636 | 1,151,622 | ' | ' | ' | ' | ' | ' | ' | 129,501 | 196,487 | 955,135 | 955,135 |
Cumulative amortization | -33,960 | -33,960 | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | -33,960 | -33,960 |
Cumulative impairment losses | -184,100 | -189,100 | ' | ' | ' | ' | ' | ' | ' | -3,200 | -8,200 | -180,900 | -180,900 |
Intangible assets, net | $866,576 | $928,562 | ' | ' | ' | ' | ' | ' | ' | $126,301 | $188,287 | $740,275 | $740,275 |
Accrued_Liabilities_Details
Accrued Liabilities (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Payables and Accruals [Abstract] | ' | ' |
Payroll and related expenses | $67,371 | $90,602 |
Interest | 28,290 | 47,497 |
Gaming liabilities | 38,880 | 58,145 |
Customer Loyalty Program Liability, Current | 19,360 | 25,159 |
Accrued liabilities | 97,208 | 120,544 |
Total accrued liabilities | $251,109 | $341,947 |
LongTerm_Debt_Schedule_of_Long
Long-Term Debt (Schedule of Long-term Debt) (Details) (USD $) | 9 Months Ended | |||||||||||||||||||||||||||||||
Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
Senior Notes | Senior Notes | Parent | Parent | Parent | Parent | Parent | Parent | Parent | Parent | Parent | Parent | Parent | Parent | Subsidiary, Peninsula Gaming [Member] | Subsidiary, Peninsula Gaming [Member] | Subsidiary, Peninsula Gaming [Member] | Subsidiary, Peninsula Gaming [Member] | Subsidiary, Peninsula Gaming [Member] | Subsidiary, Peninsula Gaming [Member] | Subsidiary, Peninsula Gaming [Member] | Subsidiary, Peninsula Gaming [Member] | Subsidiary, Peninsula Gaming [Member] | Consolidated, Excluding Borgata [Member] | Consolidated, Excluding Borgata [Member] | Subsidiary, Borgata | Subsidiary, Borgata | Subsidiary, Borgata | Subsidiary, Borgata | Subsidiary, Borgata | |||
9.125% Senior Notes Due 2018 | 9.00% Senior Notes Due 2020 | Bank Credit Facility | Bank Credit Facility | Bank Credit Facility | Bank Credit Facility | Senior Notes | Senior Notes | Senior Notes | Senior Notes | Other | Other | Bank Credit Facility | Bank Credit Facility | Bank Credit Facility | Senior Notes | Senior Notes | Other | Other | Bank Credit Facility | Secured Debt [Member] | Term Loan [Member] | Senior Secured Notes | ||||||||||
Bank Credit Facility [Member] | Bank Credit Facility [Member] | 9.125% Senior Notes Due 2018 | 9.125% Senior Notes Due 2018 | 9.00% Senior Notes Due 2020 | 9.00% Senior Notes Due 2020 | Holdco Note [Member] | Holdco Note [Member] | Bank Credit Facility [Member] | Bank Credit Facility [Member] | Peninsula Senior Notes due 2018 [Member] | Peninsula Senior Notes due 2018 [Member] | Bank Credit Facility [Member] | Term Loan [Member] | Senior Secured Notes Due 2018 [Member] | ||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate at period end | ' | ' | ' | ' | ' | ' | ' | ' | 3.67% | 3.66% | ' | ' | ' | ' | 6.00% | 6.00% | ' | ' | ' | 4.25% | 4.20% | ' | ' | ' | ' | ' | ' | ' | 3.86% | ' | ' | ' |
Amount outstanding | ' | ' | ' | ' | ' | ' | $1,370,575,000 | $1,463,492,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $760,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Remaining borrowing capacity | ' | ' | ' | ' | ' | ' | 311,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest added to principal | 4,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt, Gross | ' | ' | ' | ' | 2,371,645,000 | 2,460,755,000 | ' | ' | ' | 1,467,725,000 | ' | 500,000,000 | ' | 350,000,000 | ' | 143,030,000 | 1,110,906,000 | 1,152,162,000 | ' | ' | 802,150,000 | ' | 350,000,000 | ' | 12,000 | 3,482,551,000 | 3,612,917,000 | 813,400,000 | 39,900,000 | 380,000,000 | ' | 393,500,000 |
Unamortized discount | -16,978,000 | -27,181,000 | ' | ' | -16,978,000 | -21,604,000 | ' | ' | -3,750,000 | -4,233,000 | 0 | 0 | 0 | 0 | -13,228,000 | -17,371,000 | 0 | 0 | ' | 0 | 0 | 0 | 0 | 0 | 0 | -16,978,000 | -21,604,000 | -5,577,000 | 0 | ' | -3,766,000 | -1,811,000 |
Unamortized origination fees | -5,155,000 | -12,645,000 | ' | ' | -5,155,000 | -6,082,000 | ' | ' | 0 | 0 | -5,155,000 | -6,082,000 | 0 | 0 | 0 | 0 | 0 | 0 | ' | 0 | 0 | 0 | 0 | 0 | 0 | -5,155,000 | -6,082,000 | -6,563,000 | 0 | ' | 0 | -6,563,000 |
Long-term debt, net | ' | ' | ' | ' | 2,349,512,000 | 2,433,069,000 | ' | ' | ' | 1,463,492,000 | ' | 493,918,000 | ' | 350,000,000 | ' | 125,659,000 | 1,110,906,000 | 1,152,162,000 | ' | ' | 802,150,000 | ' | 350,000,000 | ' | 12,000 | 3,460,418,000 | 3,585,231,000 | 801,260,000 | 39,900,000 | 376,234,000 | ' | 385,126,000 |
Debt Instrument, Interest Rate, Effective Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.75% | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | 9.13% | 9.00% | ' | ' | ' | ' | ' | ' | 9.13% | 9.13% | 9.00% | 9.00% | ' | ' | ' | ' | ' | ' | ' | 8.38% | 8.38% | ' | ' | ' | ' | ' | ' | ' | ' | 9.88% |
Current maturities of long-term debt | 27,693,000 | 33,559,000 | ' | ' | 21,500,000 | 21,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt, gross, excluding current maturities | 3,454,858,000 | 4,392,758,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term debt, net of current maturities | $3,432,725,000 | $4,352,932,000 | ' | ' | $2,193,920,000 | $2,285,910,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
LongTerm_Debt_Schedule_of_Boyd
Long-Term Debt (Schedule of Boyd Bank Credit Facility) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | |||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 |
Parent | Parent | Parent | Parent | Bank Credit Facility | Bank Credit Facility | Bank Credit Facility | Bank Credit Facility | Bank Credit Facility | Bank Credit Facility | Bank Credit Facility | Bank Credit Facility | Bank Credit Facility | |||||
Parent | Parent | Parent | Parent | Parent | Parent | Parent | Parent | Subsidiary, Peninsula Gaming [Member] | |||||||||
Initial Term Loan | Initial Term Loan | Incremental Term Loan [Member] | Incremental Term Loan [Member] | Swing Loan [Member] | Swing Loan [Member] | ||||||||||||
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount outstanding | ' | ' | ' | ' | ' | ' | ' | ' | $1,370,575 | $1,463,492 | $234,375 | $246,875 | $858,750 | $897,750 | $11,200 | $23,867 | $760,900 |
Borrowings under Boyd Gaming bank credit facility | ' | ' | 605,000 | 2,711,375 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss on early extinguishments of debt | $71 | $27,141 | $1,129 | $29,513 | $0 | $24,605 | $0 | $25,001 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
LongTerm_Debt_Boyd_Bank_Credit
Long-Term Debt (Boyd Bank Credit Facility Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | |||||||||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | |
Parent | Parent | Parent | Parent | Parent | Parent | Parent | Parent | Parent | Parent | Parent | Subsidiary, Peninsula Gaming [Member] | Subsidiary, Peninsula Gaming [Member] | |||||
Bank Credit Facility | Bank Credit Facility | Bank Credit Facility | Bank Credit Facility | Bank Credit Facility | Bank Credit Facility | Letter of Credit | Bank Credit Facility | Letter of Credit | |||||||||
Initial Term Loan | Initial Term Loan | Incremental Term Loan [Member] | Incremental Term Loan [Member] | ||||||||||||||
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss on early extinguishments of debt | $71,000 | $27,141,000 | $1,129,000 | $29,513,000 | $0 | $24,605,000 | $0 | $25,001,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 1,370,575,000 | 1,463,492,000 | 234,375,000 | 246,875,000 | 858,750,000 | 897,750,000 | 7,700,000 | 760,900,000 | 5,600,000 |
Remaining borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | $311,100,000 | ' | ' | ' | ' | ' | ' | $30,000,000 | ' |
LongTerm_Debt_Boyd_Senior_and_
Long-Term Debt (Boyd Senior and Senior Subordinated Notes Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | |
Senior Notes | Senior Notes | Parent | Parent | Parent | Parent | Parent | Parent | Parent | Parent | |||||
9.125% Senior Notes Due 2018 | 9.00% Senior Notes Due 2020 | Senior Notes | Senior Notes | Senior Notes | Senior Notes | |||||||||
9.125% Senior Notes Due 2018 | 9.125% Senior Notes Due 2018 | 9.00% Senior Notes Due 2020 | 9.00% Senior Notes Due 2020 | |||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest added to principal | ' | ' | $4,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | 9.13% | 9.00% | ' | ' | ' | ' | 9.13% | 9.13% | 9.00% | 9.00% |
Loss on early extinguishments of debt | $71,000 | $27,141,000 | $1,129,000 | $29,513,000 | ' | ' | $0 | $24,605,000 | $0 | $25,001,000 | ' | ' | ' | ' |
LongTerm_Debt_Peninsula_Bank_C
Long-Term Debt (Peninsula Bank Credit Facility Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | |||||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | |
Parent | Parent | Parent | Parent | Parent | Parent | Parent | Subsidiary, Peninsula Gaming [Member] | Subsidiary, Peninsula Gaming [Member] | |||||
Bank Credit Facility | Bank Credit Facility | Letter of Credit | Bank Credit Facility | Letter of Credit | |||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount outstanding | ' | ' | ' | ' | ' | ' | ' | ' | $1,370,575,000 | $1,463,492,000 | $7,700,000 | $760,900,000 | $5,600,000 |
Remaining borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | 311,100,000 | ' | ' | 30,000,000 | ' |
Loss on early extinguishments of debt | $71,000 | $27,141,000 | $1,129,000 | $29,513,000 | $0 | $24,605,000 | $0 | $25,001,000 | ' | ' | ' | ' | ' |
LongTerm_Debt_Borgata_Debt_Nar
Long-Term Debt (Borgata Debt Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||||||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | |
Parent | Parent | Parent | Parent | Parent | Parent | Parent | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Senior Secured Notes Due 2018 [Member] | Initial Term Loan | Initial Term Loan | Incremental Term Loan [Member] | Incremental Term Loan [Member] | Swing Loan [Member] | Swing Loan [Member] | |||||
Bank Credit Facility | Bank Credit Facility | Letter of Credit | Parent | Parent | Subsidiary, Borgata | Parent | Parent | Parent | Parent | Parent | Parent | |||||||||
Bank Credit Facility | Bank Credit Facility | Senior Secured Notes | Bank Credit Facility | Bank Credit Facility | Bank Credit Facility | Bank Credit Facility | Bank Credit Facility | Bank Credit Facility | ||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount outstanding | ' | ' | ' | ' | ' | ' | ' | ' | $1,370,575,000 | $1,463,492,000 | $7,700,000 | $266,250,000 | $295,000,000 | ' | $234,375,000 | $246,875,000 | $858,750,000 | $897,750,000 | $11,200,000 | $23,867,000 |
Remaining borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | 311,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.88% | ' | ' | ' | ' | ' | ' |
Loss on early retirements of debt | ($71,000) | ($27,141,000) | ($1,129,000) | ($29,513,000) | $0 | ($24,605,000) | $0 | ($25,001,000) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stockholders_Equity_and_Stock_2
Stockholders' Equity and Stock Incentive Plans (Classification of Costs) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Share-based compensation expense | $1,334 | $2,049 | $11,239 | $9,033 |
Gaming | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Share-based compensation expense | 49 | 59 | 231 | 176 |
Food and Beverage | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Share-based compensation expense | 9 | 12 | 44 | 34 |
Room | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Share-based compensation expense | 4 | 5 | 21 | 16 |
Selling, General and Administrative | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Share-based compensation expense | 247 | 298 | 1,173 | 894 |
Corporate Expense | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Share-based compensation expense | 1,217 | 1,675 | 9,962 | 7,913 |
Other Expense [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Share-based compensation expense | ($192) | $0 | ($192) | $0 |
Noncontrolling_Interest_Narrat
Noncontrolling Interest (Narrative) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||||
Noncontrolling Interest [Line Items] | ' | ' | ' | ' |
Noncontrolling interest | $50 | $180,450 | $200,701 | $163,336 |
Subsidiary, Borgata | ' | ' | ' | ' |
Noncontrolling Interest [Line Items] | ' | ' | ' | ' |
Noncontrolling interest | $0 | $180,430 | $200,681 | $208,277 |
Ownership percentage by noncontrolling owners | 50.00% | ' | ' | ' |
Noncontrolling_Interest_Change
Noncontrolling Interest (Changes in Noncontrolling Interest) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward] | ' | ' | ' | ' |
Balance, January 1, 2014 | ' | ' | $180,450 | $163,336 |
Attributable net income | -11,777 | -2,672 | -11,403 | 8,039 |
Capital Investment Attributable to Noncontrolling Interest | ' | ' | -191,833 | -45,404 |
Balance, September 30, 2014 | 50 | 200,701 | 50 | 200,701 |
Capital Investment Attributable to Noncontrolling Interest | ' | ' | -30 | ' |
Subsidiary, Borgata | ' | ' | ' | ' |
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward] | ' | ' | ' | ' |
Balance, January 1, 2014 | ' | ' | 180,430 | 208,277 |
Attributable net income | ' | ' | -11,403 | 7,596 |
Capital Investment Attributable to Noncontrolling Interest | ' | ' | -191,833 | 0 |
Balance, September 30, 2014 | 0 | 200,681 | 0 | 200,681 |
Capital Investment Attributable to Noncontrolling Interest | ' | ' | 0 | ' |
LVE [Member] | ' | ' | ' | ' |
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward] | ' | ' | ' | ' |
Balance, January 1, 2014 | ' | ' | ' | -44,961 |
Attributable net income | ' | ' | ' | 443 |
Capital Investment Attributable to Noncontrolling Interest | ' | ' | ' | 45,404 |
Balance, September 30, 2014 | ' | 0 | ' | 0 |
Other | ' | ' | ' | ' |
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward] | ' | ' | ' | ' |
Balance, January 1, 2014 | ' | ' | 20 | 20 |
Attributable net income | ' | ' | 0 | 0 |
Capital Investment Attributable to Noncontrolling Interest | ' | ' | 0 | 0 |
Balance, September 30, 2014 | 50 | 20 | 50 | 20 |
Capital Investment Attributable to Noncontrolling Interest | ' | ' | $30 | ' |
Fair_Value_Measurements_Balanc
Fair Value Measurements (Balance Measured at Fair Value) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||||
Assets | ' | ' | ' | ' | ' |
Cash and Cash Equivalents, at Carrying Value | $120,910 | $177,838 | $165,803 | $165,803 | $192,545 |
Fair Value, Measurements, Recurring [Member] | Level 1 | ' | ' | ' | ' | ' |
Assets | ' | ' | ' | ' | ' |
Restricted Cash and Cash Equivalents, Current | 25,163 | 20,686 | ' | ' | ' |
CRDA deposits | ' | 0 | ' | ' | ' |
Investment available for sale | 0 | 0 | ' | ' | ' |
Liabilities | ' | ' | ' | ' | ' |
Merger earnout | 0 | 0 | ' | ' | ' |
Business Combination, Contingent Consideration, Liability | 0 | 0 | ' | ' | ' |
Fair Value, Measurements, Recurring [Member] | Level 2 | ' | ' | ' | ' | ' |
Assets | ' | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | ' | ' | ' |
Restricted cash | 0 | 0 | ' | ' | ' |
CRDA deposits | ' | 0 | ' | ' | ' |
Investment available for sale | 0 | 0 | ' | ' | ' |
Liabilities | ' | ' | ' | ' | ' |
Merger earnout | 0 | 0 | ' | ' | ' |
Business Combination, Contingent Consideration, Liability | 0 | 0 | ' | ' | ' |
Fair Value, Measurements, Recurring [Member] | Level 3 | ' | ' | ' | ' | ' |
Assets | ' | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | ' | ' | ' |
Restricted cash | 0 | 0 | ' | ' | ' |
CRDA deposits | ' | 4,613 | ' | ' | ' |
Investment available for sale | 18,153 | 17,128 | ' | ' | ' |
Liabilities | ' | ' | ' | ' | ' |
Merger earnout | 225 | 1,125 | ' | ' | ' |
Business Combination, Contingent Consideration, Liability | 4,258 | 4,343 | ' | ' | ' |
Fair Value, Measurements, Recurring [Member] | Estimate of Fair Value Measurement [Member] | ' | ' | ' | ' | ' |
Assets | ' | ' | ' | ' | ' |
Cash and cash equivalents | 120,910 | 177,838 | ' | ' | ' |
Restricted cash | 25,163 | 20,686 | ' | ' | ' |
CRDA deposits | ' | 4,613 | ' | ' | ' |
Investment available for sale | 18,153 | 17,128 | ' | ' | ' |
Liabilities | ' | ' | ' | ' | ' |
Merger earnout | 225 | 1,125 | ' | ' | ' |
Business Combination, Contingent Consideration, Liability | 4,258 | 4,343 | ' | ' | ' |
Parent | ' | ' | ' | ' | ' |
Assets | ' | ' | ' | ' | ' |
Cash and Cash Equivalents, at Carrying Value | 2 | 0 | ' | 0 | 2,520 |
Estimate of Fair Value Measurement [Member] | Parent | Fair Value, Measurements, Nonrecurring [Member] | Level 3 | ' | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' |
Obligation Under Assessment Arrangements | 28,942 | 27,608 | ' | ' | ' |
Liabilities | ' | ' | ' | ' | ' |
Other Financial Instruments | 262 | 343 | ' | ' | ' |
Outstanding Face Amount | Parent | Fair Value, Measurements, Nonrecurring [Member] | Level 3 | ' | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' |
Obligation Under Assessment Arrangements | 37,094 | 37,783 | ' | ' | ' |
Liabilities | ' | ' | ' | ' | ' |
Other Financial Instruments | 300 | 400 | ' | ' | ' |
Carrying Value | Parent | Fair Value, Measurements, Nonrecurring [Member] | Level 3 | ' | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' |
Obligation Under Assessment Arrangements | 28,788 | 28,980 | ' | ' | ' |
Liabilities | ' | ' | ' | ' | ' |
Other Financial Instruments | $262 | $343 | ' | ' | ' |
Fair_Value_Measurements_Narrat
Fair Value Measurements (Narrative-Balances Measured at Fair Value) (Details) (USD $) | 0 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Dec. 20, 2011 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 |
Kansas Star | Merger Earnout | Peninsula Gaming | Peninsula Gaming | |
Kansas Star | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Earnout Threshold, EBITDA of Certain Properties | ' | $105 | ' | ' |
Earnout Multiple | ' | 7.5 | ' | ' |
Contingent Consideration, Kansas Star earnout | ' | ' | 0.2 | 1.1 |
Payment to Option Holder, Percentage of EBITDA | 1.00% | ' | ' | ' |
Payment to Option Holder, Term | '10 years | ' | ' | ' |
Business Combination, Contingent Consideration, Liability for Payments to Option Holder, Current | ' | ' | 0.9 | 0.9 |
Business Combination, Contingent Consideration, Liability for Payments to Option Holder, Noncurrent | ' | ' | $3.40 | $3.40 |
Fair_Value_Measurements_Change
Fair Value Measurements (Changes in Fair Value of Level 3 Assets and Liabilities) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Merger Earnout | ' | ' | ' | ' |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' | ' |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | $0 | $0 | $0 | $0 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' |
Beginning Balance | -450 | -8,983 | -1,125 | -9,800 |
Included in Earnings | 225 | 0 | 900 | 817 |
Included in Other Comprehensive Income (Loss) | 0 | 0 | 0 | 0 |
Transfers, Net | 0 | 0 | 0 | 0 |
Settlements | 0 | 0 | 0 | 0 |
Ending Balance | -225 | -8,983 | -225 | -8,983 |
Contingent Payments | ' | ' | ' | ' |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' | ' |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | 0 | 0 | 0 | 0 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' |
Beginning Balance | -4,278 | -4,470 | -4,343 | -4,563 |
Included in Earnings | -181 | -191 | -549 | -578 |
Included in Other Comprehensive Income (Loss) | 0 | 0 | 0 | 0 |
Transfers, Net | 0 | 0 | 0 | 0 |
Settlements | 201 | 214 | 634 | 694 |
Ending Balance | -4,258 | -4,447 | -4,258 | -4,447 |
Investment Available for Sale | ' | ' | ' | ' |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' | ' |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | 0 | 0 | 0 | 0 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' |
Beginning Balance | 17,443 | 17,742 | 17,128 | 17,907 |
Included in Earnings | 29 | 28 | 89 | 78 |
Included in Other Comprehensive Income (Loss) | 681 | 167 | 1,291 | 282 |
Transfers, Net | 0 | 0 | 0 | 0 |
Ending Balance | 18,153 | 17,937 | 18,153 | 17,937 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' |
Settlements | 0 | 0 | -355 | -330 |
Beginning Balance | 17,443 | 17,742 | 17,128 | 17,907 |
Included in Earnings | 29 | 28 | 89 | 78 |
Included in Other Comprehensive Income (Loss) | 681 | 167 | 1,291 | 282 |
Transfers, Net | 0 | 0 | 0 | 0 |
Ending Balance | 18,153 | 17,937 | 18,153 | 17,937 |
CRDA Deposits | ' | ' | ' | ' |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' | ' | ' |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases | ' | 1,738 | ' | 5,145 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' |
Beginning Balance | ' | 25,114 | ' | 28,464 |
Included in Earnings | ' | -581 | ' | -7,338 |
Included in Other Comprehensive Income (Loss) | ' | 0 | ' | 0 |
Transfers, Net | ' | 0 | ' | 0 |
Ending Balance | ' | 3,726 | ' | 3,726 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' |
Settlements | ' | -22,545 | ' | -22,545 |
Beginning Balance | ' | 25,114 | ' | 28,464 |
Included in Earnings | ' | -581 | ' | -7,338 |
Included in Other Comprehensive Income (Loss) | ' | 0 | ' | 0 |
Transfers, Net | ' | 0 | ' | 0 |
Ending Balance | ' | 3,726 | ' | 3,726 |
Interest Income | Merger Earnout | ' | ' | ' | ' |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' |
Included in Earnings | 0 | 0 | 0 | 0 |
Interest Income | Contingent Payments | ' | ' | ' | ' |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' |
Included in Earnings | 0 | 0 | 0 | 167 |
Interest Income | Investment Available for Sale | ' | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' |
Included in Earnings | 29 | 28 | 89 | 78 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' |
Included in Earnings | 29 | 28 | 89 | 78 |
Interest Income | CRDA Deposits | ' | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' |
Included in Earnings | ' | 0 | ' | 0 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' |
Included in Earnings | ' | 0 | ' | 0 |
Interest Expense | Merger Earnout | ' | ' | ' | ' |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' |
Included in Earnings | 0 | 0 | 0 | 0 |
Interest Expense | Contingent Payments | ' | ' | ' | ' |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' |
Included in Earnings | -181 | -191 | -549 | -578 |
Interest Expense | Investment Available for Sale | ' | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' |
Included in Earnings | 0 | 0 | 0 | 0 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' |
Included in Earnings | 0 | 0 | 0 | 0 |
Interest Expense | CRDA Deposits | ' | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' |
Included in Earnings | ' | 0 | ' | 0 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' |
Included in Earnings | ' | 0 | ' | 0 |
Non-Operating Income [Member] | Merger Earnout | ' | ' | ' | ' |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' |
Included in Earnings | ' | ' | ' | 817 |
Non-Operating Income [Member] | Contingent Payments | ' | ' | ' | ' |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' |
Included in Earnings | ' | ' | ' | 0 |
Non-Operating Income [Member] | Investment Available for Sale | ' | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' |
Included in Earnings | ' | ' | ' | 0 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' |
Included in Earnings | ' | ' | ' | 0 |
Non-Operating Income [Member] | CRDA Deposits | ' | ' | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' |
Included in Earnings | ' | ' | ' | 0 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ' | ' |
Included in Earnings | ' | ' | ' | $0 |
Fair_Value_Measurements_Fair_V
Fair Value Measurements (Fair Value, by Balance Sheet Grouping) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Parent | Level 3 | Fair Value, Measurements, Nonrecurring [Member] | Outstanding Face Amount | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Obligation Under Assessment Arrangements | $37,094,000 | $37,783,000 |
Other Financial Instruments | 300,000 | 400,000 |
Parent | Level 3 | Fair Value, Measurements, Nonrecurring [Member] | Carrying Value | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Obligation Under Assessment Arrangements | 28,788,000 | 28,980,000 |
Other Financial Instruments | 262,000 | 343,000 |
Parent | Level 3 | Fair Value, Measurements, Nonrecurring [Member] | Estimate of Fair Value Measurement [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Obligation Under Assessment Arrangements | 28,942,000 | 27,608,000 |
Other Financial Instruments | 262,000 | 343,000 |
Peninsula Gaming | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Investment available for sale | 17,800,000 | 16,800,000 |
Business Combination, Contingent Consideration, Liability for Payments to Option Holder, Current | 900,000 | 900,000 |
Business Combination, Contingent Consideration, Liability for Payments to Option Holder, Noncurrent | $3,400,000 | $3,400,000 |
Fair_Value_Measurements_Fair_V1
Fair Value Measurements (Fair Value Balance Sheet Long-Term Debt Grouping) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Parent | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term Debt, Gross | $2,371,645 | $2,460,755 |
Long-term debt, net | 2,349,512 | 2,433,069 |
Parent | Outstanding Face Amount | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Debt Instrument, Fair Value Disclosure | 2,371,645 | 2,460,755 |
Parent | Carrying Value | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term debt, net | 2,349,512 | 2,433,069 |
Parent | Estimate of Fair Value Measurement [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Debt Instrument, Fair Value Disclosure | 2,429,936 | 2,522,628 |
Subsidiary, Peninsula Gaming [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term Debt, Gross | 1,110,906 | 1,152,162 |
Long-term debt, net | 1,110,906 | 1,152,162 |
Subsidiary, Peninsula Gaming [Member] | Outstanding Face Amount | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Debt Instrument, Fair Value Disclosure | 1,110,906 | 1,152,162 |
Subsidiary, Peninsula Gaming [Member] | Carrying Value | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term debt, net | 1,110,906 | 1,152,162 |
Subsidiary, Peninsula Gaming [Member] | Estimate of Fair Value Measurement [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Debt Instrument, Fair Value Disclosure | 1,140,574 | 1,196,453 |
Subsidiary, Peninsula Gaming [Member] | Other | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term Debt, Gross | ' | 12 |
Long-term debt, net | ' | 12 |
Consolidated, Excluding Borgata [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term Debt, Gross | 3,482,551 | 3,612,917 |
Long-term debt, net | 3,460,418 | 3,585,231 |
Consolidated, Excluding Borgata [Member] | Outstanding Face Amount | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Debt Instrument, Fair Value Disclosure | 3,482,551 | 3,612,917 |
Consolidated, Excluding Borgata [Member] | Carrying Value | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term debt, net | 3,460,418 | 3,585,231 |
Consolidated, Excluding Borgata [Member] | Estimate of Fair Value Measurement [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Debt Instrument, Fair Value Disclosure | 3,570,510 | 3,719,081 |
Subsidiary, Borgata | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term Debt, Gross | ' | 813,400 |
Long-term debt, net | ' | 801,260 |
Subsidiary, Borgata | Outstanding Face Amount | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Debt Instrument, Fair Value Disclosure | ' | 813,400 |
Subsidiary, Borgata | Carrying Value | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term debt, net | ' | 801,260 |
Subsidiary, Borgata | Estimate of Fair Value Measurement [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Debt Instrument, Fair Value Disclosure | ' | 847,272 |
Fair Value, Measurements, Nonrecurring [Member] | Outstanding Face Amount | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Debt Instrument, Fair Value Disclosure | ' | 4,426,317 |
Fair Value, Measurements, Nonrecurring [Member] | Carrying Value | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Debt Instrument, Fair Value Disclosure | ' | 4,386,491 |
Fair Value, Measurements, Nonrecurring [Member] | Estimate of Fair Value Measurement [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Debt Instrument, Fair Value Disclosure | ' | 4,566,353 |
Bank Credit Facility [Member] | Parent | Bank Credit Facility | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term Debt, Gross | ' | 1,467,725 |
Long-term debt, net | ' | 1,463,492 |
Bank Credit Facility [Member] | Subsidiary, Peninsula Gaming [Member] | Bank Credit Facility | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term Debt, Gross | ' | 802,150 |
Long-term debt, net | ' | 802,150 |
Bank Credit Facility [Member] | Subsidiary, Borgata | Bank Credit Facility | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term Debt, Gross | ' | 39,900 |
Long-term debt, net | ' | 39,900 |
Peninsula Senior Notes due 2018 [Member] | Subsidiary, Peninsula Gaming [Member] | Senior Notes | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term Debt, Gross | ' | 350,000 |
Long-term debt, net | ' | 350,000 |
9.125% Senior Notes Due 2018 | Parent | Senior Notes | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term Debt, Gross | ' | 500,000 |
Long-term debt, net | ' | 493,918 |
9.00% Senior Notes Due 2020 | Parent | Senior Notes | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term Debt, Gross | ' | 350,000 |
Long-term debt, net | ' | 350,000 |
Level 1 | Peninsula Senior Notes due 2018 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Subsidiary, Peninsula Gaming [Member] | Senior Notes | Outstanding Face Amount | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Debt Instrument, Fair Value Disclosure | ' | 350,000 |
Long-term Debt, Gross | 350,000 | ' |
Level 1 | Peninsula Senior Notes due 2018 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Subsidiary, Peninsula Gaming [Member] | Senior Notes | Carrying Value | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term debt, net | 350,000 | 350,000 |
Level 1 | Peninsula Senior Notes due 2018 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Subsidiary, Peninsula Gaming [Member] | Senior Notes | Estimate of Fair Value Measurement [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Debt Instrument, Fair Value Disclosure | 367,500 | 381,500 |
Level 1 | 9.125% Senior Notes Due 2018 | Fair Value, Measurements, Nonrecurring [Member] | Parent | Senior Notes | Outstanding Face Amount | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Debt Instrument, Fair Value Disclosure | ' | 500,000 |
Long-term Debt, Gross | 500,000 | ' |
Level 1 | 9.125% Senior Notes Due 2018 | Fair Value, Measurements, Nonrecurring [Member] | Parent | Senior Notes | Carrying Value | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term debt, net | 494,845 | 493,918 |
Level 1 | 9.125% Senior Notes Due 2018 | Fair Value, Measurements, Nonrecurring [Member] | Parent | Senior Notes | Estimate of Fair Value Measurement [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Debt Instrument, Fair Value Disclosure | 527,500 | 543,750 |
Level 1 | 9.00% Senior Notes Due 2020 | Fair Value, Measurements, Nonrecurring [Member] | Parent | Senior Notes | Outstanding Face Amount | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Debt Instrument, Fair Value Disclosure | ' | 350,000 |
Long-term Debt, Gross | 350,000 | ' |
Level 1 | 9.00% Senior Notes Due 2020 | Fair Value, Measurements, Nonrecurring [Member] | Parent | Senior Notes | Carrying Value | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term debt, net | 350,000 | 350,000 |
Level 1 | 9.00% Senior Notes Due 2020 | Fair Value, Measurements, Nonrecurring [Member] | Parent | Senior Notes | Estimate of Fair Value Measurement [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Debt Instrument, Fair Value Disclosure | 378,455 | 383,250 |
Level 1 | 9.50% Senior Secured Notes Due 2015 | Fair Value, Measurements, Nonrecurring [Member] | Subsidiary, Borgata | Secured Debt [Member] | Outstanding Face Amount | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Debt Instrument, Fair Value Disclosure | ' | 380,000 |
Level 1 | 9.50% Senior Secured Notes Due 2015 | Fair Value, Measurements, Nonrecurring [Member] | Subsidiary, Borgata | Secured Debt [Member] | Carrying Value | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term debt, net | ' | 376,234 |
Level 1 | 9.50% Senior Secured Notes Due 2015 | Fair Value, Measurements, Nonrecurring [Member] | Subsidiary, Borgata | Secured Debt [Member] | Estimate of Fair Value Measurement [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Debt Instrument, Fair Value Disclosure | ' | 381,900 |
Level 1 | Senior Secured Notes Due 2018 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Subsidiary, Borgata | Secured Debt [Member] | Outstanding Face Amount | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Debt Instrument, Fair Value Disclosure | ' | 393,500 |
Level 1 | Senior Secured Notes Due 2018 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Subsidiary, Borgata | Secured Debt [Member] | Carrying Value | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term debt, net | ' | 385,126 |
Level 1 | Senior Secured Notes Due 2018 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Subsidiary, Borgata | Secured Debt [Member] | Estimate of Fair Value Measurement [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Debt Instrument, Fair Value Disclosure | ' | 425,472 |
Level 2 | Bank Credit Facility [Member] | Subsidiary, Peninsula Gaming [Member] | Bank Credit Facility | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term Debt, Gross | 760,900 | ' |
Level 2 | Bank Credit Facility [Member] | Fair Value, Measurements, Nonrecurring [Member] | Parent | Bank Credit Facility | Outstanding Face Amount | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Debt Instrument, Fair Value Disclosure | ' | 1,467,725 |
Long-term Debt, Gross | 1,374,325 | ' |
Level 2 | Bank Credit Facility [Member] | Fair Value, Measurements, Nonrecurring [Member] | Parent | Bank Credit Facility | Carrying Value | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term debt, net | 1,370,575 | 1,463,492 |
Level 2 | Bank Credit Facility [Member] | Fair Value, Measurements, Nonrecurring [Member] | Parent | Bank Credit Facility | Estimate of Fair Value Measurement [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Debt Instrument, Fair Value Disclosure | 1,384,027 | 1,469,969 |
Level 2 | Bank Credit Facility [Member] | Fair Value, Measurements, Nonrecurring [Member] | Subsidiary, Peninsula Gaming [Member] | Bank Credit Facility | Outstanding Face Amount | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term Debt, Gross | ' | 802,150 |
Level 2 | Bank Credit Facility [Member] | Fair Value, Measurements, Nonrecurring [Member] | Subsidiary, Peninsula Gaming [Member] | Bank Credit Facility | Carrying Value | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term debt, net | 760,900 | 802,150 |
Level 2 | Bank Credit Facility [Member] | Fair Value, Measurements, Nonrecurring [Member] | Subsidiary, Peninsula Gaming [Member] | Bank Credit Facility | Estimate of Fair Value Measurement [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Debt Instrument, Fair Value Disclosure | 773,068 | 814,941 |
Level 2 | Bank Credit Facility [Member] | Fair Value, Measurements, Nonrecurring [Member] | Subsidiary, Borgata | Bank Credit Facility | Outstanding Face Amount | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Debt Instrument, Fair Value Disclosure | ' | 39,900 |
Level 2 | Bank Credit Facility [Member] | Fair Value, Measurements, Nonrecurring [Member] | Subsidiary, Borgata | Bank Credit Facility | Carrying Value | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term debt, net | ' | 39,900 |
Level 2 | Bank Credit Facility [Member] | Fair Value, Measurements, Nonrecurring [Member] | Subsidiary, Borgata | Bank Credit Facility | Estimate of Fair Value Measurement [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Debt Instrument, Fair Value Disclosure | ' | 39,900 |
Level 3 | Fair Value, Measurements, Nonrecurring [Member] | Parent | Other | Outstanding Face Amount | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term Debt, Gross | 147,320 | ' |
Level 3 | Fair Value, Measurements, Nonrecurring [Member] | Parent | Other | Carrying Value | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term debt, net | 134,092 | ' |
Level 3 | Fair Value, Measurements, Nonrecurring [Member] | Parent | Other | Estimate of Fair Value Measurement [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Debt Instrument, Fair Value Disclosure | 139,954 | ' |
Level 3 | Fair Value, Measurements, Nonrecurring [Member] | Subsidiary, Peninsula Gaming [Member] | Other | Outstanding Face Amount | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Debt Instrument, Fair Value Disclosure | ' | 12 |
Long-term Debt, Gross | 6 | ' |
Level 3 | Fair Value, Measurements, Nonrecurring [Member] | Subsidiary, Peninsula Gaming [Member] | Other | Carrying Value | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term debt, net | 6 | 12 |
Level 3 | Fair Value, Measurements, Nonrecurring [Member] | Subsidiary, Peninsula Gaming [Member] | Other | Estimate of Fair Value Measurement [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Debt Instrument, Fair Value Disclosure | 6 | 12 |
Level 3 | Debt Due March 2013 | Fair Value, Measurements, Nonrecurring [Member] | Parent | Fixed Rate Debt | Outstanding Face Amount | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Debt Instrument, Fair Value Disclosure | ' | 143,030 |
Level 3 | Debt Due March 2013 | Fair Value, Measurements, Nonrecurring [Member] | Parent | Fixed Rate Debt | Carrying Value | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Long-term debt, net | ' | 125,659 |
Level 3 | Debt Due March 2013 | Fair Value, Measurements, Nonrecurring [Member] | Parent | Fixed Rate Debt | Estimate of Fair Value Measurement [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Debt Instrument, Fair Value Disclosure | ' | $125,659 |
Fair_Value_Measurements_Fair_V2
Fair Value Measurements (Fair Value, Recurring and Nonrecurring, Valuation Techniques) (Details) (USD $) | 9 Months Ended | |||||||
Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | |
Discount Rate | Discount Rate | Risk-free Interest Rate | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Measurements, Recurring [Member] | Peninsula Gaming | Peninsula Gaming | |
Contingent Payments | Available-for-sale Securities | Merger Earnout | Carrying Value | Level 3 | Level 3 | |||
Level 3 | Level 3 | Level 3 | ||||||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Contingent Consideration, Liability for Payments to Option Holder, Noncurrent | ' | ' | ' | ' | ' | ' | $3,400,000 | $3,400,000 |
Investment available for sale | ' | ' | ' | 21,700,000 | 18,153,000 | 17,128,000 | 17,800,000 | 16,800,000 |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques, Unobservable Inputs, Rate, Percentage | 18.50% | 10.20% | 2.00% | ' | ' | ' | ' | ' |
Debt Security, Interest Rate, Stated Percentage | ' | ' | ' | 7.50% | ' | ' | ' | ' |
Available-for-sale Securities, Current | ' | ' | ' | ' | ' | ' | 400,000 | 300,000 |
Fair Value, Discount Amount, Available for sales securities | ' | ' | ' | ' | ' | ' | $3,400,000 | $3,500,000 |
Segment_Information_Certain_Se
Segment Information (Certain Segment Operating Data and Other) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Segment Reporting, Certain Operating Data and Reconciling Item for Adjusted EBITDA from Segment to Consolidated [Line Items] | ' | ' | ' | ' |
Net revenues | $738,843 | $738,569 | $2,169,726 | $2,212,901 |
Corporate expense | 15,064 | 12,084 | 52,605 | 42,588 |
Depreciation and amortization | 66,168 | 69,002 | 198,245 | 209,358 |
Depreciation and amortization | ' | ' | 198,245 | ' |
Preopening expense | 1,262 | 1,675 | 3,836 | 4,829 |
Share-based compensation expense | ' | ' | 11,239 | 9,033 |
Impairments of assets | 18,279 | 1,250 | 20,205 | 8,198 |
Asset transaction costs | 3,064 | -1,362 | 5,078 | 2,265 |
Other operating charges and credits, net | -1,116 | 3,386 | -1,863 | 5,181 |
Operating income | 73,774 | 78,322 | 229,269 | 239,121 |
Las Vegas Locals | ' | ' | ' | ' |
Segment Reporting, Certain Operating Data and Reconciling Item for Adjusted EBITDA from Segment to Consolidated [Line Items] | ' | ' | ' | ' |
Net revenues | 141,207 | 140,291 | 440,920 | 442,808 |
Adjusted EBITDA | 28,052 | 26,350 | 104,640 | 104,278 |
Downtown Las Vegas | ' | ' | ' | ' |
Segment Reporting, Certain Operating Data and Reconciling Item for Adjusted EBITDA from Segment to Consolidated [Line Items] | ' | ' | ' | ' |
Net revenues | 53,379 | 52,674 | 164,664 | 162,884 |
Adjusted EBITDA | 6,315 | 5,534 | 24,193 | 21,942 |
Midwest and South | ' | ' | ' | ' |
Segment Reporting, Certain Operating Data and Reconciling Item for Adjusted EBITDA from Segment to Consolidated [Line Items] | ' | ' | ' | ' |
Net revenues | 210,732 | 214,831 | 631,472 | 668,221 |
Adjusted EBITDA | 43,593 | 41,936 | 129,890 | 140,243 |
Peninsula | ' | ' | ' | ' |
Segment Reporting, Certain Operating Data and Reconciling Item for Adjusted EBITDA from Segment to Consolidated [Line Items] | ' | ' | ' | ' |
Net revenues | 123,579 | 130,722 | 373,606 | 400,416 |
Adjusted EBITDA | 42,875 | 45,274 | 132,918 | 144,309 |
Borgata | ' | ' | ' | ' |
Segment Reporting, Certain Operating Data and Reconciling Item for Adjusted EBITDA from Segment to Consolidated [Line Items] | ' | ' | ' | ' |
Net revenues | 209,946 | 200,051 | 559,064 | 538,572 |
Adjusted EBITDA | 56,873 | 46,592 | 119,917 | 102,844 |
Reportable Segment [Member] | ' | ' | ' | ' |
Segment Reporting, Certain Operating Data and Reconciling Item for Adjusted EBITDA from Segment to Consolidated [Line Items] | ' | ' | ' | ' |
Net revenues | 738,843 | 738,569 | 2,169,726 | 2,212,901 |
Adjusted EBITDA | 177,708 | 165,686 | 511,558 | 513,616 |
Unallocated to Segment | ' | ' | ' | ' |
Segment Reporting, Certain Operating Data and Reconciling Item for Adjusted EBITDA from Segment to Consolidated [Line Items] | ' | ' | ' | ' |
Deferred rent | 903 | 956 | 2,714 | 2,872 |
Corporate expense | 13,848 | 10,409 | 42,643 | 34,675 |
Depreciation and amortization | 66,168 | 69,002 | ' | 209,358 |
Preopening expense | ' | ' | 3,836 | 4,829 |
Share-based compensation expense | 1,526 | 2,048 | 11,431 | 9,033 |
Impairments of assets | ' | ' | 20,205 | 6,282 |
Impairments of assets | ' | ' | ' | 6,282 |
Asset transaction costs | ' | ' | ' | 2,265 |
Total other operating costs and expenses | $103,934 | $87,364 | $282,289 | $274,495 |
Segment_Information_Reconcilia
Segment Information (Reconciliation of Assets) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Assets | $4,509,581 | $5,741,731 |
Las Vegas Locals | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Assets | 1,162,456 | 1,190,234 |
Downtown Las Vegas | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Assets | 124,980 | 125,618 |
Midwest and South | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Assets | 1,330,648 | 1,349,155 |
Peninsula | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Assets | 1,473,592 | 1,511,606 |
Borgata | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Assets | 0 | 1,334,714 |
Reportable Segment [Member] | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Assets | 4,091,676 | 5,511,327 |
Corporate | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Assets | 417,905 | 230,267 |
Other | ' | ' |
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' |
Assets | $0 | $137 |
Condensed_Consolidating_Financ2
Condensed Consolidating Financial Information (Balance Sheets) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | |||||
Assets | ' | ' | ' | ' | ' |
Cash and cash equivalents, end of period | $120,910 | $177,838 | $165,803 | $165,803 | $192,545 |
Other Assets, Current | 109,541 | 156,842 | ' | ' | ' |
Property and equipment, net | 2,278,854 | 3,505,613 | ' | ' | ' |
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | 221,400 | 0 | ' | ' | ' |
Interest Receivable | 0 | 0 | ' | ' | ' |
Other Noncurrent Assets | 110,656 | 145,468 | ' | ' | ' |
Intangible assets, net | 982,910 | 1,070,660 | ' | ' | ' |
Goodwill, net | 685,310 | 685,310 | ' | ' | ' |
Total assets | 4,509,581 | 5,741,731 | ' | ' | ' |
Liabilities and Stockholders’ Equity | ' | ' | ' | ' | ' |
Current maturities of long-term debt | 27,693 | 33,559 | ' | ' | ' |
Current liabilities | 322,594 | 420,304 | ' | ' | ' |
Accumulated losses of subsidiaries in excess of investment | 0 | 0 | ' | ' | ' |
Intercompany payable | 0 | 0 | ' | ' | ' |
Long-term debt, net of current maturities | 3,432,725 | 4,352,932 | ' | ' | ' |
Other long-term liabilities | 263,962 | 284,499 | ' | ' | ' |
Common stock | 1,084 | 1,082 | ' | ' | ' |
Additional paid-in capital | 914,391 | 902,496 | ' | ' | ' |
Retained earnings (deficit) | -452,692 | -432,074 | ' | ' | ' |
Accumulated other comprehensive income (loss) | -226 | -1,517 | ' | ' | ' |
Total Boyd Gaming Corporation stockholders’ equity | 462,557 | 469,987 | ' | ' | ' |
Noncontrolling interest | 50 | 180,450 | 200,701 | ' | 163,336 |
Total stockholders’ equity | 462,607 | 650,437 | 710,472 | ' | 467,127 |
Total liabilities and stockholders’ equity | 4,509,581 | 5,741,731 | ' | ' | ' |
Parent | ' | ' | ' | ' | ' |
Assets | ' | ' | ' | ' | ' |
Cash and cash equivalents, end of period | 2 | 0 | ' | 0 | 2,520 |
Other Assets, Current | 7,391 | 13,772 | ' | ' | ' |
Property and equipment, net | 56,617 | 69,309 | ' | ' | ' |
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | 3,340,711 | 3,265,579 | ' | ' | ' |
Interest Receivable | 0 | 0 | ' | ' | ' |
Other Noncurrent Assets | 37,872 | 43,470 | ' | ' | ' |
Intangible assets, net | 0 | 0 | ' | ' | ' |
Goodwill, net | 0 | 0 | ' | ' | ' |
Total assets | 3,442,593 | 3,392,130 | ' | ' | ' |
Liabilities and Stockholders’ Equity | ' | ' | ' | ' | ' |
Current maturities of long-term debt | 21,500 | 21,500 | ' | ' | ' |
Current liabilities | 52,748 | 57,156 | ' | ' | ' |
Accumulated losses of subsidiaries in excess of investment | 0 | 0 | ' | ' | ' |
Intercompany payable | 672,643 | 512,358 | ' | ' | ' |
Long-term debt, net of current maturities | 2,193,920 | 2,285,910 | ' | ' | ' |
Other long-term liabilities | 39,225 | 45,219 | ' | ' | ' |
Common stock | 1,084 | 1,082 | ' | ' | ' |
Additional paid-in capital | 914,391 | 902,496 | ' | ' | ' |
Retained earnings (deficit) | -452,692 | -432,074 | ' | ' | ' |
Accumulated other comprehensive income (loss) | -226 | -1,517 | ' | ' | ' |
Total Boyd Gaming Corporation stockholders’ equity | 462,557 | 469,987 | ' | ' | ' |
Noncontrolling interest | 0 | 0 | ' | ' | ' |
Total stockholders’ equity | 462,557 | 469,987 | ' | ' | ' |
Total liabilities and stockholders’ equity | 3,442,593 | 3,392,130 | ' | ' | ' |
Guarantor Subsidiaries | ' | ' | ' | ' | ' |
Assets | ' | ' | ' | ' | ' |
Cash and cash equivalents, end of period | 91,028 | 106,445 | ' | 99,487 | 118,714 |
Other Assets, Current | 73,633 | 67,991 | ' | ' | ' |
Property and equipment, net | 1,773,400 | 1,808,450 | ' | ' | ' |
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | 177,048 | 129,692 | ' | ' | ' |
Interest Receivable | 1,644,006 | 1,474,412 | ' | ' | ' |
Other Noncurrent Assets | 6,638 | 8,105 | ' | ' | ' |
Intangible assets, net | 463,910 | 465,259 | ' | ' | ' |
Goodwill, net | 212,794 | 212,794 | ' | ' | ' |
Total assets | 4,442,457 | 4,273,148 | ' | ' | ' |
Liabilities and Stockholders’ Equity | ' | ' | ' | ' | ' |
Current maturities of long-term debt | 0 | 0 | ' | ' | ' |
Current liabilities | 190,007 | 186,539 | ' | ' | ' |
Accumulated losses of subsidiaries in excess of investment | 0 | 0 | ' | ' | ' |
Intercompany payable | 0 | 0 | ' | ' | ' |
Long-term debt, net of current maturities | 0 | 0 | ' | ' | ' |
Other long-term liabilities | 180,754 | 178,764 | ' | ' | ' |
Common stock | 31,124 | 31,124 | ' | ' | ' |
Additional paid-in capital | 2,717,796 | 2,736,895 | ' | ' | ' |
Retained earnings (deficit) | 1,323,001 | 1,139,826 | ' | ' | ' |
Accumulated other comprehensive income (loss) | -225 | 0 | ' | ' | ' |
Total Boyd Gaming Corporation stockholders’ equity | 4,071,696 | 3,907,845 | ' | ' | ' |
Noncontrolling interest | 0 | 0 | ' | ' | ' |
Total stockholders’ equity | 4,071,696 | 3,907,845 | ' | ' | ' |
Total liabilities and stockholders’ equity | 4,442,457 | 4,273,148 | ' | ' | ' |
Non-Guarantor Subsidiaries (100% Owned) | ' | ' | ' | ' | ' |
Assets | ' | ' | ' | ' | ' |
Cash and cash equivalents, end of period | 29,661 | 33,766 | ' | 30,866 | 36,619 |
Other Assets, Current | 30,061 | 28,639 | ' | ' | ' |
Property and equipment, net | 448,837 | 460,789 | ' | ' | ' |
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | 0 | 0 | ' | ' | ' |
Interest Receivable | 0 | 0 | ' | ' | ' |
Other Noncurrent Assets | 66,146 | 72,185 | ' | ' | ' |
Intangible assets, net | 519,000 | 545,401 | ' | ' | ' |
Goodwill, net | 472,516 | 472,516 | ' | ' | ' |
Total assets | 1,566,221 | 1,613,296 | ' | ' | ' |
Liabilities and Stockholders’ Equity | ' | ' | ' | ' | ' |
Current maturities of long-term debt | 6,193 | 8,259 | ' | ' | ' |
Current liabilities | 80,349 | 70,678 | ' | ' | ' |
Accumulated losses of subsidiaries in excess of investment | 228 | 2,026 | ' | ' | ' |
Intercompany payable | 971,726 | 966,128 | ' | ' | ' |
Long-term debt, net of current maturities | 1,238,805 | 1,269,562 | ' | ' | ' |
Other long-term liabilities | 43,983 | 33,297 | ' | ' | ' |
Common stock | -27 | -27 | ' | ' | ' |
Additional paid-in capital | 248,203 | 248,083 | ' | ' | ' |
Retained earnings (deficit) | -1,023,014 | -983,193 | ' | ' | ' |
Accumulated other comprehensive income (loss) | -225 | -1,517 | ' | ' | ' |
Total Boyd Gaming Corporation stockholders’ equity | -775,063 | -736,654 | ' | ' | ' |
Noncontrolling interest | 0 | 0 | ' | ' | ' |
Total stockholders’ equity | -775,063 | -736,654 | ' | ' | ' |
Total liabilities and stockholders’ equity | 1,566,221 | 1,613,296 | ' | ' | ' |
Non-Guarantor Subsidiaries (Not 100% Owned) | ' | ' | ' | ' | ' |
Assets | ' | ' | ' | ' | ' |
Cash and cash equivalents, end of period | 219 | 37,627 | ' | 35,450 | 34,692 |
Other Assets, Current | 0 | 48,414 | ' | ' | ' |
Property and equipment, net | 0 | 1,167,065 | ' | ' | ' |
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | 0 | 0 | ' | ' | ' |
Interest Receivable | 0 | 0 | ' | ' | ' |
Other Noncurrent Assets | 0 | 21,708 | ' | ' | ' |
Intangible assets, net | 0 | 60,000 | ' | ' | ' |
Goodwill, net | 0 | 0 | ' | ' | ' |
Total assets | 219 | 1,334,814 | ' | ' | ' |
Liabilities and Stockholders’ Equity | ' | ' | ' | ' | ' |
Current maturities of long-term debt | 0 | 3,800 | ' | ' | ' |
Current liabilities | 0 | 103,833 | ' | ' | ' |
Accumulated losses of subsidiaries in excess of investment | 0 | 0 | ' | ' | ' |
Intercompany payable | 363 | 265 | ' | ' | ' |
Long-term debt, net of current maturities | 0 | 797,460 | ' | ' | ' |
Other long-term liabilities | 0 | 27,219 | ' | ' | ' |
Common stock | 0 | 0 | ' | ' | ' |
Additional paid-in capital | 4,250 | 480,833 | ' | ' | ' |
Retained earnings (deficit) | -4,394 | -78,596 | ' | ' | ' |
Accumulated other comprehensive income (loss) | 0 | 0 | ' | ' | ' |
Total Boyd Gaming Corporation stockholders’ equity | -144 | 402,237 | ' | ' | ' |
Noncontrolling interest | 0 | 0 | ' | ' | ' |
Total stockholders’ equity | -144 | 402,237 | ' | ' | ' |
Total liabilities and stockholders’ equity | 219 | 1,334,814 | ' | ' | ' |
Eliminations | ' | ' | ' | ' | ' |
Assets | ' | ' | ' | ' | ' |
Cash and cash equivalents, end of period | 0 | 0 | ' | 0 | 0 |
Other Assets, Current | -1,544 | -1,974 | ' | ' | ' |
Property and equipment, net | 0 | 0 | ' | ' | ' |
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | -3,296,359 | -3,395,271 | ' | ' | ' |
Interest Receivable | -1,644,006 | -1,474,412 | ' | ' | ' |
Other Noncurrent Assets | 0 | 0 | ' | ' | ' |
Intangible assets, net | 0 | 0 | ' | ' | ' |
Goodwill, net | 0 | 0 | ' | ' | ' |
Total assets | -4,941,909 | -4,871,657 | ' | ' | ' |
Liabilities and Stockholders’ Equity | ' | ' | ' | ' | ' |
Current maturities of long-term debt | 0 | 0 | ' | ' | ' |
Current liabilities | -510 | 2,098 | ' | ' | ' |
Accumulated losses of subsidiaries in excess of investment | -228 | -2,026 | ' | ' | ' |
Intercompany payable | -1,644,732 | -1,478,751 | ' | ' | ' |
Long-term debt, net of current maturities | 0 | 0 | ' | ' | ' |
Other long-term liabilities | 0 | 0 | ' | ' | ' |
Common stock | -31,097 | -31,097 | ' | ' | ' |
Additional paid-in capital | -2,970,249 | -3,465,811 | ' | ' | ' |
Retained earnings (deficit) | -295,593 | -78,037 | ' | ' | ' |
Accumulated other comprehensive income (loss) | 450 | 1,517 | ' | ' | ' |
Total Boyd Gaming Corporation stockholders’ equity | -3,296,489 | -3,573,428 | ' | ' | ' |
Noncontrolling interest | 50 | 180,450 | ' | ' | ' |
Total stockholders’ equity | -3,296,439 | -3,392,978 | ' | ' | ' |
Total liabilities and stockholders’ equity | ($4,941,909) | ($4,871,657) | ' | ' | ' |
Condensed_Consolidating_Financ3
Condensed Consolidating Financial Information (Income Statements) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Net revenues | $738,843 | $738,569 | $2,169,726 | $2,212,901 |
Costs and Expenses | ' | ' | ' | ' |
Operating | 403,862 | 405,640 | 1,181,520 | 1,203,426 |
Selling, general and administrative | 113,436 | 122,837 | 349,494 | 373,865 |
Maintenance and utilities | 45,050 | 45,735 | 131,337 | 125,986 |
Depreciation and amortization | 66,168 | 69,002 | 198,245 | 209,358 |
Corporate expense | 15,064 | 12,084 | 52,605 | 42,588 |
Preopening expense | 1,262 | 1,675 | 3,836 | 4,829 |
Impairments of assets | 18,279 | 1,250 | 20,205 | 8,198 |
Asset transactions costs | 3,064 | -1,362 | 5,078 | 2,265 |
Other operating charges and credits, net | -1,116 | 3,386 | -1,863 | 5,181 |
Intercompany Expense | 0 | 0 | 0 | 0 |
Total operating costs and expenses | 665,069 | 660,247 | 1,940,457 | 1,973,780 |
Equity in earnings of subsidiaries | 0 | 0 | 0 | 0 |
Operating income | 73,774 | 78,322 | 229,269 | 239,121 |
Other expense (income) | ' | ' | ' | ' |
Interest expense | 74,954 | 82,592 | 224,807 | 265,174 |
Loss on early extinguishments of debt | 71 | 27,141 | 1,129 | 29,513 |
Other, net | -116 | -136 | -498 | -335 |
Total other expense, net | 75,141 | 109,869 | 226,434 | 294,352 |
Income (loss) from continuing operations before income taxes | -1,367 | -31,547 | 2,835 | -55,231 |
Income taxes benefit (expense) | 1,961 | 3,048 | -12,050 | -3,478 |
Income (loss) from continuing operations, net of tax | -3,328 | -34,595 | -9,215 | -51,753 |
Income from discontinued operations, net of tax | 0 | 0 | 0 | 10,790 |
Attributable net income | -11,777 | -2,672 | -11,403 | 8,039 |
Net Income (Loss) Attributable to Parent | -15,105 | -37,267 | -20,618 | -32,924 |
Comprehensive income (loss) | -2,647 | -34,543 | -7,924 | -40,796 |
Parent | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Net revenues | 28,690 | 32,018 | 87,719 | 106,132 |
Costs and Expenses | ' | ' | ' | ' |
Operating | 450 | 462 | 1,350 | 1,386 |
Selling, general and administrative | 11,665 | 11,698 | 35,010 | 35,183 |
Maintenance and utilities | 0 | 0 | 0 | 0 |
Depreciation and amortization | 1,246 | 1,610 | 4,399 | 5,008 |
Corporate expense | 14,060 | 11,423 | 49,884 | 39,463 |
Preopening expense | 2 | -537 | 44 | 563 |
Impairments of assets | 0 | 0 | 320 | ' |
Impairments of assets | ' | ' | ' | 0 |
Asset transactions costs | -1 | -1,692 | 57 | 1,043 |
Other operating charges and credits, net | 592 | 134 | 164 | 412 |
Intercompany Expense | 301 | 301 | 903 | 912 |
Total operating costs and expenses | 28,315 | 23,399 | 92,131 | 83,970 |
Equity in earnings of subsidiaries | 18,973 | 16,822 | 84,689 | 89,932 |
Operating income | 19,348 | 25,441 | 80,277 | 112,094 |
Other expense (income) | ' | ' | ' | ' |
Interest expense | 33,230 | 36,936 | 99,045 | 121,004 |
Loss on early extinguishments of debt | 0 | 24,605 | 0 | 25,001 |
Other, net | 0 | -136 | 0 | -136 |
Total other expense, net | 33,230 | 61,677 | 99,045 | 146,141 |
Income (loss) from continuing operations before income taxes | -13,882 | -36,236 | -18,768 | -34,047 |
Income taxes benefit (expense) | 1,223 | 1,031 | 1,850 | -1,123 |
Income (loss) from continuing operations, net of tax | ' | -37,267 | -20,618 | -32,924 |
Income from discontinued operations, net of tax | ' | 0 | ' | 0 |
Attributable net income | 0 | 0 | 0 | 0 |
Net Income (Loss) Attributable to Parent | -15,105 | -37,267 | -20,618 | -32,924 |
Comprehensive income (loss) | -14,424 | -37,216 | -19,327 | -32,757 |
Guarantor Subsidiaries | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Net revenues | 398,573 | 400,874 | 1,215,918 | 1,253,582 |
Costs and Expenses | ' | ' | ' | ' |
Operating | 220,640 | 223,748 | 660,321 | 680,970 |
Selling, general and administrative | 55,703 | 58,809 | 169,837 | 179,365 |
Maintenance and utilities | 25,967 | 25,639 | 72,855 | 70,087 |
Depreciation and amortization | 31,475 | 30,281 | 94,351 | 90,992 |
Corporate expense | 57 | -7 | 167 | 87 |
Preopening expense | 0 | 0 | 6 | 0 |
Impairments of assets | 12,098 | 0 | 13,116 | ' |
Impairments of assets | ' | ' | ' | 12,734 |
Asset transactions costs | 1,852 | 232 | 3,341 | 300 |
Other operating charges and credits, net | 0 | 43 | 0 | 1,396 |
Intercompany Expense | 28,398 | 31,768 | 86,946 | 105,158 |
Total operating costs and expenses | 376,190 | 370,513 | 1,100,940 | 1,141,089 |
Equity in earnings of subsidiaries | 12 | -13,041 | -9,127 | -10,480 |
Operating income | 22,395 | 17,320 | 105,851 | 102,013 |
Other expense (income) | ' | ' | ' | ' |
Interest expense | 1,254 | 2,270 | 4,542 | 7,630 |
Loss on early extinguishments of debt | 0 | 0 | 0 | 0 |
Other, net | 0 | 0 | 0 | 0 |
Total other expense, net | 1,254 | 2,270 | 4,542 | 7,630 |
Income (loss) from continuing operations before income taxes | 21,141 | 15,050 | 101,309 | 94,383 |
Income taxes benefit (expense) | -5,829 | -1,973 | -4,377 | -5,939 |
Income (loss) from continuing operations, net of tax | ' | 17,023 | 105,686 | 100,322 |
Income from discontinued operations, net of tax | ' | 0 | ' | 0 |
Attributable net income | 0 | 0 | 0 | 0 |
Net Income (Loss) Attributable to Parent | 26,970 | 17,023 | 105,686 | 100,322 |
Comprehensive income (loss) | 27,651 | 17,074 | 106,977 | 100,489 |
Non-Guarantor Subsidiaries (100% Owned) | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Net revenues | 135,380 | 143,022 | 410,235 | 437,395 |
Costs and Expenses | ' | ' | ' | ' |
Operating | 76,790 | 80,857 | 229,844 | 241,394 |
Selling, general and administrative | 14,164 | 15,510 | 42,859 | 48,131 |
Maintenance and utilities | 3,967 | 4,040 | 11,271 | 11,073 |
Depreciation and amortization | 19,309 | 22,774 | 57,366 | 67,910 |
Corporate expense | 947 | 668 | 2,554 | 3,038 |
Preopening expense | 1,245 | 1,883 | 3,389 | 5,812 |
Impairments of assets | 6,181 | 1,250 | 6,769 | ' |
Impairments of assets | ' | ' | ' | 1,250 |
Asset transactions costs | 838 | 299 | 1,306 | 717 |
Other operating charges and credits, net | 1 | 63 | 84 | 227 |
Intercompany Expense | 4,978 | 5,317 | 15,219 | 16,669 |
Total operating costs and expenses | 128,420 | 132,661 | 370,661 | 396,221 |
Equity in earnings of subsidiaries | -15 | 0 | -128 | 0 |
Operating income | 6,945 | 10,361 | 39,446 | 41,174 |
Other expense (income) | ' | ' | ' | ' |
Interest expense | 22,661 | 23,104 | 67,893 | 72,264 |
Loss on early extinguishments of debt | 71 | 0 | 1,129 | 1,976 |
Other, net | -116 | 0 | -498 | 471 |
Total other expense, net | 22,848 | 23,104 | 69,520 | 73,769 |
Income (loss) from continuing operations before income taxes | -15,903 | -12,743 | -30,074 | -32,595 |
Income taxes benefit (expense) | 3,858 | 3,259 | 11,452 | 4,286 |
Income (loss) from continuing operations, net of tax | ' | -16,002 | -41,526 | -36,881 |
Income from discontinued operations, net of tax | ' | 0 | ' | 23,524 |
Attributable net income | 0 | 0 | 0 | 0 |
Net Income (Loss) Attributable to Parent | -19,761 | -16,002 | -41,526 | -13,357 |
Comprehensive income (loss) | -19,080 | -15,951 | -40,235 | -13,190 |
Non-Guarantor Subsidiaries (Not 100% Owned) | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Net revenues | 209,946 | 200,051 | 559,064 | 540,505 |
Costs and Expenses | ' | ' | ' | ' |
Operating | 105,982 | 100,573 | 290,005 | 279,676 |
Selling, general and administrative | 31,973 | 36,830 | 101,930 | 111,227 |
Maintenance and utilities | 15,116 | 16,056 | 47,211 | 44,826 |
Depreciation and amortization | 14,138 | 14,337 | 42,129 | 45,448 |
Corporate expense | 0 | 0 | 0 | 0 |
Preopening expense | 15 | 329 | 397 | 387 |
Impairments of assets | 0 | 0 | 0 | ' |
Impairments of assets | ' | ' | ' | 5,032 |
Asset transactions costs | 375 | -201 | 374 | 205 |
Other operating charges and credits, net | -1,709 | 3,146 | -2,111 | 3,146 |
Intercompany Expense | 0 | 0 | 0 | 0 |
Total operating costs and expenses | 165,890 | 171,070 | 479,935 | 489,947 |
Equity in earnings of subsidiaries | 0 | 0 | 0 | 0 |
Operating income | 44,056 | 28,981 | 79,129 | 50,558 |
Other expense (income) | ' | ' | ' | ' |
Interest expense | 17,809 | 20,282 | 53,327 | 64,276 |
Loss on early extinguishments of debt | 0 | 2,536 | 0 | 2,536 |
Other, net | 0 | 0 | 0 | 0 |
Total other expense, net | 17,809 | 22,818 | 53,327 | 66,812 |
Income (loss) from continuing operations before income taxes | 26,247 | 6,163 | 25,802 | -16,254 |
Income taxes benefit (expense) | 2,709 | 731 | 3,125 | -702 |
Income (loss) from continuing operations, net of tax | ' | 5,432 | 22,677 | -15,552 |
Income from discontinued operations, net of tax | ' | 0 | ' | 0 |
Attributable net income | 0 | 0 | 0 | 0 |
Net Income (Loss) Attributable to Parent | 23,538 | 5,432 | 22,677 | -15,552 |
Comprehensive income (loss) | 23,538 | 5,432 | 22,677 | -15,552 |
Eliminations | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' |
Net revenues | -33,746 | -37,396 | -103,210 | -124,713 |
Costs and Expenses | ' | ' | ' | ' |
Operating | 0 | 0 | 0 | 0 |
Selling, general and administrative | -69 | -10 | -142 | -41 |
Maintenance and utilities | 0 | 0 | 0 | 0 |
Depreciation and amortization | 0 | 0 | 0 | 0 |
Corporate expense | 0 | 0 | 0 | 0 |
Preopening expense | 0 | 0 | 0 | -1,933 |
Impairments of assets | 0 | 0 | 0 | ' |
Impairments of assets | ' | ' | ' | -12,734 |
Asset transactions costs | 0 | 0 | 0 | 0 |
Other operating charges and credits, net | 0 | 0 | 0 | 0 |
Intercompany Expense | -33,677 | -37,386 | -103,068 | -122,739 |
Total operating costs and expenses | -33,746 | -37,396 | -103,210 | -137,447 |
Equity in earnings of subsidiaries | -18,970 | -3,781 | -75,434 | -79,452 |
Operating income | -18,970 | -3,781 | -75,434 | -66,718 |
Other expense (income) | ' | ' | ' | ' |
Interest expense | 0 | 0 | 0 | 0 |
Loss on early extinguishments of debt | 0 | 0 | 0 | 0 |
Other, net | 0 | 0 | 0 | 0 |
Total other expense, net | 0 | 0 | 0 | 0 |
Income (loss) from continuing operations before income taxes | -18,970 | -3,781 | -75,434 | -66,718 |
Income taxes benefit (expense) | 0 | 0 | 0 | 0 |
Income (loss) from continuing operations, net of tax | ' | -3,781 | -75,434 | -66,718 |
Income from discontinued operations, net of tax | ' | 0 | ' | -12,734 |
Attributable net income | -11,777 | -2,672 | 11,403 | 8,039 |
Net Income (Loss) Attributable to Parent | -30,747 | -6,453 | -86,837 | -71,413 |
Comprehensive income (loss) | -20,332 | -3,882 | -78,016 | -79,786 |
Unallocated to Segment | ' | ' | ' | ' |
Costs and Expenses | ' | ' | ' | ' |
Corporate expense | 13,848 | 10,409 | 42,643 | 34,675 |
Preopening expense | ' | ' | 3,836 | 4,829 |
Impairments of assets | ' | ' | 20,205 | 6,282 |
Impairments of assets | ' | ' | ' | 6,282 |
Asset transactions costs | ' | ' | ' | $2,265 |
Condensed_Consolidating_Financ4
Condensed Consolidating Financial Information (Cash Flows) (Details) (USD $) | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Jun. 30, 2013 |
Cash flows from operating activities | ' | ' | ' |
Net Cash Provided by (Used in) Operating Activities | $232,501 | $233,783 | ' |
Cash flows from investing activities | ' | ' | ' |
Capital expenditures | -94,617 | -100,618 | ' |
Proceeds from sale of Echelon, net | 0 | 343,750 | ' |
Proceeds from sale of North Las Vegas land, net | 0 | 4,875 | ' |
Cash paid for exercise of LVE option | 0 | -187,000 | ' |
Investment in subsidiaries | ' | 0 | ' |
Cash Divested from Deconsolidation | -26,891 | 0 | ' |
Net Investing Activity with Affiliates | 0 | 0 | ' |
Proceeds from Equity Method Investment, Dividends or Distributions | ' | 0 | ' |
Other investing activities | 3,187 | 198 | ' |
Net cash provided by (used in) investing activities | -118,321 | 61,205 | ' |
Cash flows from financing activities | ' | ' | ' |
Borrowings under bank credit facility | 1,258,000 | 3,276,975 | ' |
Payments under bank credit facility | -1,426,650 | -3,335,813 | ' |
Proceeds from Contributions from Parent | ' | 0 | ' |
Proceeds from Contributions from Affiliates | ' | 0 | ' |
Debt financing costs | -289 | -36,396 | ' |
Payments on long-term debt | -7 | -10,818 | ' |
Payments on retirements of long-term debt | -2,850 | -500,272 | ' |
Proceeds from Contributions from Affiliates | 0 | 0 | ' |
Stock options exercised | 984 | 13,591 | ' |
Restricted stock units released, net | -201 | -354 | ' |
Proceeds from (Payments for) Combined Other Financing Activities | -95 | 216,467 | ' |
Net cash used in financing activities | -171,108 | -376,620 | ' |
Cash Flows from Discontinued Operations | ' | ' | ' |
Cash flows from operating activities | 0 | -2,144 | ' |
Cash flows from investing activities | 0 | 56,751 | ' |
Cash flows from financing activities | ' | 0 | ' |
Net Cash Provided by (Used in) Discontinued Operations | 0 | 54,607 | ' |
Cash and cash equivalents, beginning of period | 177,838 | 192,545 | 165,803 |
Change in cash classified as discontinued operations | ' | 283 | ' |
Cash and cash equivalents, end of period | -120,910 | -165,803 | -165,803 |
Cash and Cash Equivalents, Period Increase (Decrease) | -56,928 | -27,025 | ' |
Parent | ' | ' | ' |
Cash flows from operating activities | ' | ' | ' |
Net Cash Provided by (Used in) Operating Activities | -43,397 | -204,968 | ' |
Cash flows from investing activities | ' | ' | ' |
Capital expenditures | -24,090 | -22,927 | ' |
Proceeds from sale of Echelon, net | ' | 343,750 | ' |
Proceeds from sale of North Las Vegas land, net | ' | 4,875 | ' |
Cash paid for exercise of LVE option | ' | -187,000 | ' |
Investment in subsidiaries | ' | -4,233 | ' |
Cash Divested from Deconsolidation | 0 | ' | ' |
Net Investing Activity with Affiliates | 0 | 0 | ' |
Proceeds from Equity Method Investment, Dividends or Distributions | ' | 9,500 | ' |
Other investing activities | 0 | 0 | ' |
Net cash provided by (used in) investing activities | -24,090 | 143,965 | ' |
Cash flows from financing activities | ' | ' | ' |
Borrowings under bank credit facility | 605,000 | 2,711,375 | ' |
Payments under bank credit facility | -698,400 | -2,738,325 | ' |
Proceeds from Contributions from Parent | ' | 0 | ' |
Proceeds from Contributions from Affiliates | ' | 0 | ' |
Debt financing costs | -84 | -23,562 | ' |
Payments on long-term debt | 0 | -10,341 | ' |
Payments on retirements of long-term debt | 0 | -459,278 | ' |
Proceeds from Contributions from Affiliates | 160,285 | 348,910 | ' |
Stock options exercised | 984 | 13,591 | ' |
Restricted stock units released, net | -201 | -354 | ' |
Proceeds from (Payments for) Combined Other Financing Activities | -95 | 216,467 | ' |
Net cash used in financing activities | 67,489 | 58,483 | ' |
Cash Flows from Discontinued Operations | ' | ' | ' |
Cash flows from operating activities | ' | 0 | ' |
Cash flows from investing activities | ' | 0 | ' |
Cash flows from financing activities | ' | 0 | ' |
Net Cash Provided by (Used in) Discontinued Operations | ' | 0 | ' |
Cash and cash equivalents, beginning of period | 0 | 2,520 | 0 |
Change in cash classified as discontinued operations | ' | 0 | ' |
Cash and cash equivalents, end of period | -2 | ' | 0 |
Cash and Cash Equivalents, Period Increase (Decrease) | 2 | -2,520 | ' |
Guarantor Subsidiaries | ' | ' | ' |
Cash flows from operating activities | ' | ' | ' |
Net Cash Provided by (Used in) Operating Activities | 188,817 | 348,667 | ' |
Cash flows from investing activities | ' | ' | ' |
Capital expenditures | -36,269 | -36,191 | ' |
Proceeds from sale of Echelon, net | ' | 0 | ' |
Proceeds from sale of North Las Vegas land, net | ' | 0 | ' |
Cash paid for exercise of LVE option | ' | 0 | ' |
Investment in subsidiaries | ' | 0 | ' |
Cash Divested from Deconsolidation | 0 | ' | ' |
Net Investing Activity with Affiliates | -169,594 | -331,703 | ' |
Proceeds from Equity Method Investment, Dividends or Distributions | ' | 0 | ' |
Other investing activities | 1,629 | 0 | ' |
Net cash provided by (used in) investing activities | -204,234 | -367,894 | ' |
Cash flows from financing activities | ' | ' | ' |
Borrowings under bank credit facility | 0 | 0 | ' |
Payments under bank credit facility | 0 | 0 | ' |
Proceeds from Contributions from Parent | ' | 0 | ' |
Proceeds from Contributions from Affiliates | ' | 0 | ' |
Debt financing costs | 0 | 0 | ' |
Payments on long-term debt | 0 | 0 | ' |
Payments on retirements of long-term debt | 0 | 0 | ' |
Proceeds from Contributions from Affiliates | 0 | 0 | ' |
Stock options exercised | 0 | 0 | ' |
Restricted stock units released, net | 0 | 0 | ' |
Proceeds from (Payments for) Combined Other Financing Activities | 0 | 0 | ' |
Net cash used in financing activities | 0 | 0 | ' |
Cash Flows from Discontinued Operations | ' | ' | ' |
Cash flows from operating activities | ' | 0 | ' |
Cash flows from investing activities | ' | 0 | ' |
Cash flows from financing activities | ' | 0 | ' |
Net Cash Provided by (Used in) Discontinued Operations | ' | 0 | ' |
Cash and cash equivalents, beginning of period | 106,445 | 118,714 | 99,487 |
Change in cash classified as discontinued operations | ' | 0 | ' |
Cash and cash equivalents, end of period | -91,028 | ' | -99,487 |
Cash and Cash Equivalents, Period Increase (Decrease) | -15,417 | -19,227 | ' |
Non-Guarantor Subsidiaries (100% Owned) | ' | ' | ' |
Cash flows from operating activities | ' | ' | ' |
Net Cash Provided by (Used in) Operating Activities | 54,828 | 29,757 | ' |
Cash flows from investing activities | ' | ' | ' |
Capital expenditures | -22,635 | -25,102 | ' |
Proceeds from sale of Echelon, net | ' | 0 | ' |
Proceeds from sale of North Las Vegas land, net | ' | 0 | ' |
Cash paid for exercise of LVE option | ' | 0 | ' |
Investment in subsidiaries | ' | 0 | ' |
Cash Divested from Deconsolidation | 0 | ' | ' |
Net Investing Activity with Affiliates | 5,598 | -17,067 | ' |
Proceeds from Equity Method Investment, Dividends or Distributions | ' | 0 | ' |
Other investing activities | -639 | 222 | ' |
Net cash provided by (used in) investing activities | -17,676 | -41,947 | ' |
Cash flows from financing activities | ' | ' | ' |
Borrowings under bank credit facility | 242,100 | 268,500 | ' |
Payments under bank credit facility | -283,350 | -296,688 | ' |
Proceeds from Contributions from Parent | ' | 0 | ' |
Proceeds from Contributions from Affiliates | ' | -9,500 | ' |
Debt financing costs | 0 | -10,288 | ' |
Payments on long-term debt | -7 | -477 | ' |
Payments on retirements of long-term debt | 0 | 0 | ' |
Proceeds from Contributions from Affiliates | 0 | 0 | ' |
Stock options exercised | 0 | 0 | ' |
Restricted stock units released, net | 0 | 0 | ' |
Proceeds from (Payments for) Combined Other Financing Activities | 0 | 0 | ' |
Net cash used in financing activities | -41,257 | -48,453 | ' |
Cash Flows from Discontinued Operations | ' | ' | ' |
Cash flows from operating activities | ' | -2,144 | ' |
Cash flows from investing activities | ' | 56,751 | ' |
Cash flows from financing activities | ' | 0 | ' |
Net Cash Provided by (Used in) Discontinued Operations | ' | 54,607 | ' |
Cash and cash equivalents, beginning of period | 33,766 | 36,619 | 30,866 |
Change in cash classified as discontinued operations | ' | 283 | ' |
Cash and cash equivalents, end of period | -29,661 | ' | -30,866 |
Cash and Cash Equivalents, Period Increase (Decrease) | -4,105 | -6,036 | ' |
Non-Guarantor Subsidiaries (Not 100% Owned) | ' | ' | ' |
Cash flows from operating activities | ' | ' | ' |
Net Cash Provided by (Used in) Operating Activities | 35,866 | 60,308 | ' |
Cash flows from investing activities | ' | ' | ' |
Capital expenditures | -11,623 | -16,398 | ' |
Proceeds from sale of Echelon, net | ' | 0 | ' |
Proceeds from sale of North Las Vegas land, net | ' | 0 | ' |
Cash paid for exercise of LVE option | ' | 0 | ' |
Investment in subsidiaries | ' | 0 | ' |
Cash Divested from Deconsolidation | -26,891 | ' | ' |
Net Investing Activity with Affiliates | 98 | -121 | ' |
Proceeds from Equity Method Investment, Dividends or Distributions | ' | 0 | ' |
Other investing activities | 2,197 | -24 | ' |
Net cash provided by (used in) investing activities | -36,219 | -16,543 | ' |
Cash flows from financing activities | ' | ' | ' |
Borrowings under bank credit facility | 410,900 | 297,100 | ' |
Payments under bank credit facility | -444,900 | -300,800 | ' |
Proceeds from Contributions from Parent | ' | 4,233 | ' |
Proceeds from Contributions from Affiliates | ' | 0 | ' |
Debt financing costs | -205 | -2,546 | ' |
Payments on long-term debt | 0 | 0 | ' |
Payments on retirements of long-term debt | -2,850 | -40,994 | ' |
Proceeds from Contributions from Affiliates | 0 | 0 | ' |
Stock options exercised | 0 | 0 | ' |
Restricted stock units released, net | 0 | 0 | ' |
Proceeds from (Payments for) Combined Other Financing Activities | 0 | 0 | ' |
Net cash used in financing activities | -37,055 | -43,007 | ' |
Cash Flows from Discontinued Operations | ' | ' | ' |
Cash flows from operating activities | ' | 0 | ' |
Cash flows from investing activities | ' | 0 | ' |
Cash flows from financing activities | ' | 0 | ' |
Net Cash Provided by (Used in) Discontinued Operations | ' | 0 | ' |
Cash and cash equivalents, beginning of period | 37,627 | 34,692 | 35,450 |
Change in cash classified as discontinued operations | ' | 0 | ' |
Cash and cash equivalents, end of period | -219 | ' | -35,450 |
Cash and Cash Equivalents, Period Increase (Decrease) | -37,408 | 758 | ' |
Eliminations | ' | ' | ' |
Cash flows from operating activities | ' | ' | ' |
Net Cash Provided by (Used in) Operating Activities | -3,613 | 19 | ' |
Cash flows from investing activities | ' | ' | ' |
Capital expenditures | 0 | 0 | ' |
Proceeds from sale of Echelon, net | ' | 0 | ' |
Proceeds from sale of North Las Vegas land, net | ' | 0 | ' |
Cash paid for exercise of LVE option | ' | 0 | ' |
Investment in subsidiaries | ' | 4,233 | ' |
Cash Divested from Deconsolidation | 0 | ' | ' |
Net Investing Activity with Affiliates | 163,898 | 348,891 | ' |
Proceeds from Equity Method Investment, Dividends or Distributions | ' | -9,500 | ' |
Other investing activities | 0 | ' | ' |
Net cash provided by (used in) investing activities | 163,898 | 343,624 | ' |
Cash flows from financing activities | ' | ' | ' |
Borrowings under bank credit facility | 0 | 0 | ' |
Payments under bank credit facility | 0 | 0 | ' |
Proceeds from Contributions from Parent | ' | -4,233 | ' |
Proceeds from Contributions from Affiliates | ' | 9,500 | ' |
Debt financing costs | 0 | 0 | ' |
Payments on long-term debt | 0 | 0 | ' |
Payments on retirements of long-term debt | 0 | 0 | ' |
Proceeds from Contributions from Affiliates | -160,285 | -348,910 | ' |
Stock options exercised | 0 | 0 | ' |
Restricted stock units released, net | 0 | 0 | ' |
Proceeds from (Payments for) Combined Other Financing Activities | 0 | 0 | ' |
Net cash used in financing activities | -160,285 | -343,643 | ' |
Cash Flows from Discontinued Operations | ' | ' | ' |
Cash flows from operating activities | ' | 0 | ' |
Cash flows from investing activities | ' | 0 | ' |
Cash flows from financing activities | ' | 0 | ' |
Net Cash Provided by (Used in) Discontinued Operations | ' | 0 | ' |
Cash and cash equivalents, beginning of period | 0 | 0 | 0 |
Change in cash classified as discontinued operations | ' | 0 | ' |
Cash and cash equivalents, end of period | 0 | ' | 0 |
Cash and Cash Equivalents, Period Increase (Decrease) | $0 | $0 | ' |
Condensed_Consolidating_Financ5
Condensed Consolidating Financial Information (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Assets | $4,509,581 | ' | $4,509,581 | ' | $5,741,731 |
Net loss | -3,328 | -34,595 | -9,215 | -40,963 | ' |
Income (loss) from continuing operations, net of tax | -3,328 | -34,595 | -9,215 | -51,753 | ' |
Net Cash Provided by (Used in) Operating Activities | ' | ' | 232,501 | 233,783 | ' |
Senior Notes | 9.125% Senior Notes Due 2018 | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | 9.13% | ' | 9.13% | ' |
Senior Notes | 9.00% Senior Notes Due 2020 | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | 9.00% | ' | 9.00% | ' |
Parent | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Assets | 3,442,593 | ' | 3,442,593 | ' | 3,392,130 |
Net loss | -15,105 | -37,267 | ' | -32,924 | ' |
Income (loss) from continuing operations, net of tax | ' | -37,267 | -20,618 | -32,924 | ' |
Net Cash Provided by (Used in) Operating Activities | ' | ' | -43,397 | -204,968 | ' |
Parent | Senior Notes | 9.125% Senior Notes Due 2018 | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | 9.13% | ' | 9.13% | ' | 9.13% |
Parent | Senior Notes | 9.00% Senior Notes Due 2020 | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | 9.00% | ' | 9.00% | ' | 9.00% |
Guarantor Subsidiaries | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Assets | 4,442,457 | ' | 4,442,457 | ' | 4,273,148 |
Net loss | 26,970 | 17,023 | ' | 100,322 | ' |
Income (loss) from continuing operations, net of tax | ' | 17,023 | 105,686 | 100,322 | ' |
Net Cash Provided by (Used in) Operating Activities | ' | ' | 188,817 | 348,667 | ' |
Non-Guarantor Subsidiaries (100% Owned) | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Assets | 1,566,221 | ' | 1,566,221 | ' | 1,613,296 |
Net loss | -19,761 | -16,002 | ' | -13,357 | ' |
Income (loss) from continuing operations, net of tax | ' | -16,002 | -41,526 | -36,881 | ' |
Net Cash Provided by (Used in) Operating Activities | ' | ' | 54,828 | 29,757 | ' |
Non-Guarantor Subsidiaries (Not 100% Owned) | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Assets | 219 | ' | 219 | ' | 1,334,814 |
Net loss | 23,538 | 5,432 | ' | -15,552 | ' |
Income (loss) from continuing operations, net of tax | ' | 5,432 | 22,677 | -15,552 | ' |
Net Cash Provided by (Used in) Operating Activities | ' | ' | 35,866 | 60,308 | ' |
Eliminations | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Assets | -4,941,909 | ' | -4,941,909 | ' | -4,871,657 |
Net loss | -18,970 | -3,781 | ' | -79,452 | ' |
Income (loss) from continuing operations, net of tax | ' | -3,781 | -75,434 | -66,718 | ' |
Net Cash Provided by (Used in) Operating Activities | ' | ' | -3,613 | 19 | ' |
Scenario, Adjustment [Member] | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Assets | ' | ' | ' | ' | 0 |
Net loss | ' | 0 | ' | 0 | ' |
Net Cash Provided by (Used in) Operating Activities | ' | ' | ' | 0 | ' |
Scenario, Adjustment [Member] | Parent | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Assets | ' | ' | ' | ' | 0 |
Net loss | ' | 0 | ' | 0 | ' |
Net Cash Provided by (Used in) Operating Activities | ' | ' | ' | -348,905 | ' |
Scenario, Adjustment [Member] | Guarantor Subsidiaries | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Assets | ' | ' | ' | ' | 804,906 |
Net loss | ' | -4,024 | ' | -8,958 | ' |
Net Cash Provided by (Used in) Operating Activities | ' | ' | ' | 331,703 | ' |
Scenario, Adjustment [Member] | Non-Guarantor Subsidiaries (100% Owned) | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Assets | ' | ' | ' | ' | 20,350 |
Net loss | ' | 1,084 | ' | -9,091 | ' |
Net Cash Provided by (Used in) Operating Activities | ' | ' | ' | 17,062 | ' |
Scenario, Adjustment [Member] | Non-Guarantor Subsidiaries (Not 100% Owned) | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Assets | ' | ' | ' | ' | 0 |
Net loss | ' | 0 | ' | 0 | ' |
Net Cash Provided by (Used in) Operating Activities | ' | ' | ' | -4,112 | ' |
Scenario, Adjustment [Member] | Eliminations | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Assets | ' | ' | ' | ' | -825,256 |
Income (loss) from continuing operations, net of tax | ' | 2,940 | ' | 18,049 | ' |
Net Cash Provided by (Used in) Operating Activities | ' | ' | ' | 4,252 | ' |
Scenario, Previously Reported [Member] | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Net Cash Provided by (Used in) Operating Activities | ' | ' | ' | 233,783 | ' |
Scenario, Previously Reported [Member] | Parent | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Net Cash Provided by (Used in) Operating Activities | ' | ' | ' | 143,937 | ' |
Scenario, Previously Reported [Member] | Guarantor Subsidiaries | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Assets | ' | ' | ' | ' | 3,468,242 |
Net loss | ' | 21,047 | ' | 109,280 | ' |
Net Cash Provided by (Used in) Operating Activities | ' | ' | ' | 16,964 | ' |
Scenario, Previously Reported [Member] | Non-Guarantor Subsidiaries (100% Owned) | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Assets | ' | ' | ' | ' | 1,592,946 |
Net loss | ' | -17,086 | ' | -4,266 | ' |
Net Cash Provided by (Used in) Operating Activities | ' | ' | ' | 12,695 | ' |
Scenario, Previously Reported [Member] | Non-Guarantor Subsidiaries (Not 100% Owned) | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Assets | ' | ' | ' | ' | 1,334,814 |
Net loss | ' | 5,432 | ' | -15,552 | ' |
Net Cash Provided by (Used in) Operating Activities | ' | ' | ' | 64,420 | ' |
Scenario, Previously Reported [Member] | Eliminations | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Assets | ' | ' | ' | ' | -4,046,401 |
Income (loss) from continuing operations, net of tax | ' | -6,721 | ' | -97,501 | ' |
Net Cash Provided by (Used in) Operating Activities | ' | ' | ' | ($4,233) | ' |
Subsequent_Event_Details
Subsequent Event (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Parent | ' | ' |
Subsequent Event [Line Items] | ' | ' |
Long-term Debt, Gross | $2,371,645 | $2,460,755 |
Subsidiary, Borgata | ' | ' |
Subsequent Event [Line Items] | ' | ' |
Long-term Debt, Gross | ' | $813,400 |