| Mar'20 | Dec'19 | Sep'19 | Jun'19 | Mar'19 | Dec'18 | Sep'18 | Jun'18 | Mar'18 |
|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||
Net (loss) income | ||||||||
28,656 | 55,130 | 63,905 | 73,280 | 76,400 | 71,438 | 0 | 0 | 0 |
Adjustments to reconcile net (loss) income to net cash provided by operating activities: | ||||||||
Depreciation of property and equipment | ||||||||
28,458 | 26,459 | 24,343 | 21,365 | 18,422 | 16,861 | 0 | 0 | 0 |
Amortization of intangible assets | ||||||||
6,111 | 5,900 | 5,806 | 5,651 | 5,496 | 5,500 | 0 | 0 | 0 |
Amortization of operating lease right of use assets | ||||||||
989 | 1,215 | 966 | 722 | 482 | 0 | 0 | 0 | 0 |
Share-based compensation - liability awards | ||||||||
- | - | - | - | - | -3,166 | 0 | 0 | 0 |
Share-based compensation - equity awards | ||||||||
9,217 | 3,826 | 2,800 | 2,461 | 1,337 | 1,692 | 0 | 0 | 0 |
Amortization of debt financial costs and discounts on debt | ||||||||
2,684 | 2,700 | 0 | 0 | 0 | - | - | - | - |
Amortization of deferred financing fees | ||||||||
- | - | - | - | - | - | - | - | 0 |
Amortization of original issue discount | ||||||||
- | - | - | - | - | - | - | - | 0 |
Bad debt expense | ||||||||
1,494 | 239 | 155 | 144 | 179 | 202 | 0 | 0 | 0 |
Deferred income taxes | ||||||||
0 | - | - | - | 0 | - | - | - | 0 |
Gain (Loss) on Disposition of Business | ||||||||
- | - | - | - | - | -6,514 | 0 | 0 | 0 |
Gain on disposal of property and equipment | ||||||||
-100 | -98 | -6 | -3 | -14 | -11 | 0 | 0 | 0 |
Changes in operating assets and liabilities: | ||||||||
Accounts receivable | ||||||||
-23,043 | -5,211 | -8,256 | 916 | 6,298 | 4,857 | 0 | 0 | 0 |
Inventory | ||||||||
-43 | 89 | 713 | -157 | -7 | -842 | 0 | 0 | 0 |
Prepaid expenses and other assets | ||||||||
15,014 | 14,172 | 7,190 | 3,880 | -1,161 | 1,778 | 0 | 0 | 0 |
Accounts payable | ||||||||
-15,231 | -3,860 | -10,583 | 2,021 | 1,750 | -4,078 | 0 | 0 | 0 |
Accrued liabilities | ||||||||
449 | 767 | 13,578 | 11,891 | 5,354 | 10,945 | 0 | 0 | 0 |
Lease obligations | ||||||||
- | - | - | - | - | - | - | - | 0 |
Net cash provided by operating activities | ||||||||
86,429 | 94,100 | 99,901 | 110,475 | 105,412 | 109,244 | 0 | 0 | 0 |
Cash flows from investing activities: | ||||||||
Repayment of loans from officers and directors | ||||||||
- | - | - | - | - | 5,360 | 0 | 0 | 0 |
Acquisition of Dover Downs Gaming & Entertainment, Inc., net of cash acquired | ||||||||
- | - | - | - | - | 0 | 0 | 0 | 0 |
Capital expenditures, excluding Tiverton Casino Hotel and new hotel at Twin River Casino | ||||||||
21,369 | 22,582 | 24,412 | 19,381 | 14,098 | 11,874 | 0 | 0 | 0 |
Capital expenditures - Tiverton Casino Hotel | ||||||||
578 | 1,855 | 17,395 | 37,665 | 64,472 | 94,581 | 0 | 0 | 0 |
Capital expenditures - new hotel at Twin River Casino | ||||||||
1,790 | 3,800 | 5,419 | 12,075 | 15,309 | 22,435 | 0 | 0 | 0 |
Payments associated with licenses | ||||||||
- | - | - | - | - | 208 | 0 | 0 | 0 |
Net cash used in investing activities | ||||||||
-75,270 | -38,925 | -53,623 | -76,403 | -93,239 | -117,600 | 0 | 0 | 0 |
Cash flows from financing activities: | ||||||||
Revolver borrowings | ||||||||
250,000 | 25,000 | 25,000 | 40,000 | 46,000 | 41,000 | 0 | 0 | 0 |
Term loan repayments | ||||||||
343,489 | 343,939 | 344,389 | 344,839 | 4,800 | 34,527 | 0 | 0 | 0 |
Share repurchases | ||||||||
254,007 | 223,075 | 171,072 | 8,367 | 8,367 | 7,958 | 0 | 0 | 0 |
Stock options exercised via repayment of non-recourse notes | ||||||||
- | - | - | - | - | 4,277 | 0 | 0 | 0 |
Payment of shareholder dividends | ||||||||
0 | - | - | - | 0 | - | - | - | - |
Net cash provided by financing activities | ||||||||
237,732 | 48,896 | 102,459 | 283,817 | 30,000 | -3,429 | 0 | 0 | 0 |
Net change in cash and cash equivalents and restricted cash | ||||||||
248,891 | 104,071 | 148,737 | 317,889 | 42,173 | -11,785 | 0 | 0 | 0 |
Supplemental disclosure of cash flow information: | ||||||||
Cash paid for interest | ||||||||
32,497 | 35,040 | 22,242 | 23,092 | 24,209 | 23,178 | 0 | 0 | 0 |
Income Taxes Paid | ||||||||
- | - | - | - | - | 22,200 | 0 | 0 | 0 |
Non-cash investing and financing activities: | ||||||||
Unpaid property and equipment | ||||||||
-4,613 | 419 | -16,648 | -10,474 | -10 | 7,073 | 0 | 0 | 0 |
Deposit applied to fixed asset purchases | ||||||||
0 | 981 | 981 | 981 | 981 | 0 | 0 | 0 | 0 |
Temporary Equity, Dividends, Adjustment | ||||||||
- | - | - | - | - | -640 | 0 | 0 | 0 |
Termination of operating leases via purchase of underlying assets | ||||||||
393 | 1,665 | 1,665 | 1,665 | 1,272 | 0 | 0 | 0 | 0 |
Stock issued for acquisition of Dover Downs Gaming & Entertainment, Inc. | ||||||||
0 | 86,780 | 86,780 | 86,780 | 86,780 | 0 | 0 | 0 | 0 |
Goodwill and Intangible Asset Impairment | ||||||||
0 | - | - | - | 0 | - | - | - | - |
Payment, Tax Withholding, Share-based Payment Arrangement | ||||||||
0 | - | - | - | 0 | - | - | - | - |
Income Taxes Paid, Net | ||||||||
0 | - | - | - | 0 | - | - | - | - |
Dover Downs | ||||||||
Acquisition of Dover Downs Gaming & Entertainment, Inc., net of cash acquired | ||||||||
0 | - | - | - | 0 | - | - | - | - |
Black Hawk Casinos | ||||||||
Acquisition of Dover Downs Gaming & Entertainment, Inc., net of cash acquired | ||||||||
0 | - | - | - | 0 | - | - | - | - |