Document and Entity Information |
12 Months Ended |
---|---|
Dec. 31, 2018
shares
| |
Document And Entity Information [Abstract] | |
Document Type | 40-F |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2018 |
Document Fiscal Year Focus | 2018 |
Document Fiscal Period Focus | FY |
Trading Symbol | TSG |
Entity Registrant Name | Stars Group Inc. |
Entity Central Index Key | 0001635327 |
Current Fiscal Year End Date | --12-31 |
Entity Current Reporting Status | Yes |
Entity Common Stock, Shares Outstanding | 147,947,874 |
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- Definition If the value is true, then the document is an amendment to previously-filed/accepted document. No definition available.
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- Definition End date of current fiscal year in the format --MM-DD. No definition available.
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- Definition This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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- Definition This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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- Definition The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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- Definition The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". No definition available.
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- Definition A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
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- Definition Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Trading symbol of an instrument as listed on an exchange. No definition available.
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- Definition Document And Entity Information [Abstract] No definition available.
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- Definition The weighted average number of ordinary shares outstanding plus the weighted average number of ordinary shares that would be issued on the conversion of all the dilutive potential ordinary shares into ordinary shares. [Refer: Ordinary shares [member]; Weighted average [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of profit (loss) attributable to ordinary equity holders of the parent entity (the numerator) divided by the weighted average number of ordinary shares outstanding during the period (the denominator). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of costs relating to expenses directly or indirectly attributed to the goods or services sold, which may include, but are not limited to, costs previously included in the measurement of inventory that has now been sold, unallocated production overheads and abnormal amounts of production costs of inventories. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Diluted earnings (loss) per share from continuing operations that include the net movement in regulatory deferral account balances and the net movement in related deferred tax. [Refer: Diluted earnings (loss) per share; Net movement in regulatory deferral account balances related to profit or loss and net movement in related deferred tax; Continuing operations [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The amount of costs associated with financing activities of the entity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of revenue less cost of sales. [Refer: Cost of sales; Revenue] Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- Definition The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax that relate to continuing operations. [Refer: Continuing operations [member]; Current tax expense (income); Deferred tax expense (income)] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The total of income less expenses, excluding the components of other comprehensive income. [Refer: Other comprehensive income] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The profit (loss) attributable to non-controlling interests. [Refer: Profit (loss); Non-controlling interests] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The profit (loss) attributable to owners of the parent. [Refer: Profit (loss)] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The profit (loss) from continuing operations before tax expense or income. [Refer: Profit (loss)] Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The profit (loss) from operating activities of the entity. [Refer: Profit (loss)] Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The amount of expenditure directly attributable to research or development activities, recognised in profit or loss. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The income arising in the course of an entity's ordinary activities. Income is increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in an increase in equity, other than those relating to contributions from equity participants. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of expense relating to the marketing and selling of goods or services. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of expense relating to selling, general and administrative activities of the entity. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The entity's share of the profit (loss) of associates and joint ventures accounted for using the equity method. [Refer: Associates [member]; Investments accounted for using equity method; Joint ventures [member]; Profit (loss)] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The number of ordinary shares outstanding at the beginning of the period, adjusted by the number of ordinary shares bought back or issued during the period multiplied by a time-weighting factor. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands |
12 Months Ended | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
|||||||||||
Statement Of Comprehensive Income [Abstract] | ||||||||||||
Net (loss) earnings | $ (108,906) | $ 259,285 | [1] | |||||||||
Debt instruments at FVOCI – loss in fair value * | [2] | (286) | ||||||||||
Debt instruments at FVOCI – reclassified to net earnings * | [2] | (395) | ||||||||||
Available-for-sale investments – gain in fair value ** | [3] | 32,474 | ||||||||||
Available-for-sale investments – reclassified to net earnings ** | [3] | (37,090) | ||||||||||
Foreign operations – unrealized foreign currency translation differences | (95,281) | (189,012) | ||||||||||
Cash flow hedges – effective portion of changes in fair value | [4] | 41,201 | (151,311) | |||||||||
Cash flow hedges – reclassified to net earnings | [4] | (45,271) | 160,069 | |||||||||
Other comprehensive loss | (100,032) | (184,870) | ||||||||||
Total comprehensive (loss) income | (208,938) | 74,415 | ||||||||||
Total comprehensive (loss) income attributable to: | ||||||||||||
Shareholders of The Stars Group Inc. | (200,553) | 74,361 | ||||||||||
Non-controlling interest | (8,385) | 54 | ||||||||||
Total comprehensive (loss) income | $ (208,938) | $ 74,415 | ||||||||||
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- Definition The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The amount of comprehensive income attributable to non-controlling interests. [Refer: Comprehensive income; Non-controlling interests] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of comprehensive income attributable to owners of the parent. [Refer: Comprehensive income] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The gains (losses) recognised in other comprehensive income on cash flow hedges, before tax. [Refer: Cash flow hedges [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The gains (losses) recognised in other comprehensive income on exchange differences on the translation of financial statements of foreign operations, before tax. [Refer: Other comprehensive income] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The gains (losses) recognised in other comprehensive income on financial assets measured at fair value through other comprehensive income, before tax. [Refer: Financial assets measured at fair value through other comprehensive income; Other comprehensive income] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of income and expense (including reclassification adjustments) that is not recognised in profit or loss as required or permitted by IFRSs. [Refer: IFRSs [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The total of income less expenses, excluding the components of other comprehensive income. [Refer: Other comprehensive income] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of reclassification adjustments related to cash flow hedges, before tax. Reclassification adjustments are amounts reclassified to profit (loss) in the current period that were recognised in other comprehensive income in the current or previous periods. [Refer: Cash flow hedges [member]; Other comprehensive income] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of reclassification adjustments related to financial assets measured at fair value through other comprehensive income, before tax. Reclassification adjustments are amounts reclassified to profit (loss) in the current period that were recognised in other comprehensive income in the current or previous periods. [Refer: Financial assets measured at fair value through other comprehensive income; Other comprehensive income] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Debt instruments at fair value of other comprehensive income loss in fair value. No definition available.
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- Definition Debt instruments at fair value of other comprehensive income reclassified to net earnings. No definition available.
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Consolidated Statements of Comprehensive (Loss) Income (Parenthetical) - USD ($) $ in Thousands |
12 Months Ended | |
---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
|
Statement Of Comprehensive Income [Abstract] | ||
Net of income tax recovery expense under debt instrument | $ 53,000,000 | |
Net of income tax recovery under available for sale investment | 160,380 | |
Net of income tax - Cash flow hedges |
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- Definition The amount of income tax relating to amounts recognised in other comprehensive income in relation to available-for-sale financial assets. [Refer: Financial assets available-for-sale; Other comprehensive income] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of income tax relating to amounts recognised in other comprehensive income in relation to cash flow hedges. [Refer: Cash flow hedges [member]; Other comprehensive income] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Income tax relating to debt instrument financial assets of other comprehensive income. No definition available.
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Consolidated Statements of Financial Position - USD ($) $ in Thousands |
Dec. 31, 2018 |
Dec. 31, 2017 |
|||
---|---|---|---|---|---|
Current assets | |||||
Cash and cash equivalents | $ 721,076 | $ 510,323 | [1] | ||
Restricted cash advances and collateral | 10,819 | 7,862 | [1] | ||
Prepaid expenses and other current assets | 43,945 | 29,695 | [1] | ||
Current investments - customer deposits | 103,153 | 122,668 | [1] | ||
Accounts receivable | 136,347 | 100,409 | [1] | ||
Income tax receivable | 26,085 | 16,540 | [1] | ||
Derivatives | [1] | 2,037 | |||
Total current assets | 1,041,425 | 789,534 | [1] | ||
Non-current assets | |||||
Restricted cash advances and collateral | 10,630 | 45,834 | [1] | ||
Prepaid expenses and other non-current assets | 32,760 | 26,551 | [1] | ||
Non-current accounts receivable | 14,906 | 11,818 | [1] | ||
Property and equipment | 85,169 | 44,837 | [1] | ||
Income tax receivable | 15,611 | 14,061 | [1] | ||
Deferred income taxes | 1,775 | 5,141 | [1] | ||
Derivatives | 54,583 | ||||
Intangible assets | 4,742,699 | 1,672,140 | [1] | ||
Goodwill | 5,265,980 | 2,805,210 | [1] | ||
Total non-current assets | 10,224,113 | 4,625,592 | [1] | ||
Total assets | 11,265,538 | 5,415,126 | [1] | ||
Current liabilities | |||||
Accounts payable and other liabilities | 424,007 | 194,187 | [1] | ||
Customer deposits | 423,739 | 349,766 | [1] | ||
Current provisions | 39,189 | 17,590 | [1] | ||
Derivatives | 16,493 | ||||
Income tax payable | 72,796 | 35,941 | [1] | ||
Current portion of long-term debt | 35,750 | 4,990 | [1] | ||
Total current liabilities | 1,011,974 | 602,474 | [1] | ||
Non-current liabilities | |||||
Long-term debt | 5,411,208 | 2,353,579 | [1] | ||
Long-term provisions | 4,002 | 3,093 | [1] | ||
Derivatives | 6,068 | 111,762 | [1] | ||
Other long-term liabilities | 79,716 | ||||
Income tax payable | 18,473 | 24,277 | [1] | ||
Deferred income taxes | 580,697 | 16,510 | [1] | ||
Total non-current liabilities | 6,100,164 | 2,509,221 | [1] | ||
Total liabilities | 7,112,138 | 3,111,695 | [1] | ||
EQUITY | |||||
Share capital | 4,116,287 | 1,884,219 | [1] | ||
Reserves | (469,629) | (142,340) | [1] | ||
Retained earnings | 502,761 | 561,519 | [1] | ||
Equity attributable to the Shareholders of The Stars Group Inc. | 4,149,419 | 2,303,398 | [1] | ||
Non-controlling interest | 3,981 | 33 | [1] | ||
Total equity | 4,153,400 | 2,303,431 | [1] | ||
Total liabilities and equity | 11,265,538 | 5,415,126 | [1] | ||
Operational | |||||
Current assets | |||||
Cash and cash equivalents | 392,853 | 283,225 | [1] | ||
Customer Deposits | |||||
Current assets | |||||
Cash and cash equivalents | $ 328,223 | $ 227,098 | [1] | ||
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- Definition The amount of resources: (a) controlled by the entity as a result of past events; and (b) from which future economic benefits are expected to flow to the entity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of assets that the entity (a) expects to realise or intends to sell or consume in its normal operating cycle; (b) holds primarily for the purpose of trading; (c) expects to realise within twelve months after the reporting period; or (d) classifies as cash or cash equivalents (as defined in IAS 7) unless the asset is restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period. [Refer: Assets] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The amount of current deposits from customers. [Refer: Deposits from customers] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of current derivative financial assets. [Refer: Derivative financial assets] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of current derivative financial liabilities. [Refer: Derivative financial liabilities] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of liabilities that: (a) the entity expects to settle in its normal operating cycle; (b) the entity holds primarily for the purpose of trading; (c) are due to be settled within twelve months after the reporting period; or (d) the entity does not have an unconditional right to defer settlement for at least twelve months after the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The current portion of non-current borrowings. [Refer: Borrowings] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of current prepayments and other current assets. [Refer: Other current assets; Current prepayments] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of current provisions. [Refer: Provisions] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The non-current amount of current tax assets. [Refer: Current tax assets] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of residual interest in the assets of the entity after deducting all its liabilities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The amount of the entity's equity and liabilities. [Refer: Equity; Liabilities] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of equity attributable to the owners of the parent. This specifically excludes non-controlling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of assets representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognised. [Refer: Business combinations [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of identifiable non-monetary assets without physical substance. This amount does not include goodwill. [Refer: Goodwill] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The nominal value of capital issued. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The amount of present obligations of the entity arising from past events, the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The non-current portion of non-current borrowings. [Refer: Borrowings] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of equity in a subsidiary not attributable, directly or indirectly, to a parent. [Refer: Subsidiaries [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of assets that do not meet the definition of current assets. [Refer: Current assets] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The amount of non-current derivative financial assets. [Refer: Derivative financial assets] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of non-current derivative financial liabilities. [Refer: Derivative financial liabilities] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of liabilities that do not meet the definition of current liabilities. [Refer: Current liabilities] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The amount of non-current provisions. [Refer: Provisions] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of non-current liabilities that the entity does not separately disclose in the same statement or note. [Refer: Non-current liabilities] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition A component of equity representing reserves within equity, not including retained earnings. [Refer: Retained earnings] Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The amount of tangible assets that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than one period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition A component of equity representing the entity's cumulative undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The amount of current trade receivables and current other receivables. [Refer: Current trade receivables; Other current receivables] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Accounts payable and other liabilities. No definition available.
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- Definition Customer deposits held in investment accounts which are segregated from those holding operational funds. No definition available.
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- Definition Income tax payable current. No definition available.
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- Definition Income tax payable non current. No definition available.
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- Definition Income tax receivable current. No definition available.
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- Definition Non-current accounts receivable. No definition available.
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- Definition Non-current deferred income tax asset. No definition available.
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- Definition Non-current deferred income tax liability. No definition available.
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- Definition Prepaid expenses and other non-current assets. No definition available.
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X | ||||||||||
- Definition Cash whose use is restricted for the short-term, in principal by contractual agreements or regulatory requirements. Including the cash portion of a Bond Collateral. No definition available.
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- Definition Cash whose use in whole is restricted for the long-term, generally by contractual agreements or regulatory requirements; and the cash portion of a Bond Collateral. No definition available.
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- Details
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- Details
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Consolidated Statement of Changes in Equity - USD ($) $ in Thousands |
Total |
Common Shares |
Preferred Shares |
Reserves |
Retained Earnings |
Equity Attributable to the Shareholders of the Stars Group Inc. |
Non-controlling Interests |
|||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Beginning balance at Dec. 31, 2016 | $ 2,201,728 | $ 1,178,404 | $ 684,385 | $ 35,847 | $ 302,288 | $ 2,200,924 | $ 804 | |||||||
Beginning balance, shares at Dec. 31, 2016 | 145,101,127 | 1,139,249 | ||||||||||||
Net (loss) earnings | 259,285 | [1] | 259,231 | 259,231 | 54 | |||||||||
Other comprehensive loss | (184,870) | (184,870) | (184,870) | |||||||||||
Total comprehensive (loss) income | 74,415 | (184,870) | 259,231 | 74,361 | 54 | |||||||||
Issue of Common Shares in relation to stock options and equity awards | 16,665 | $ 21,923 | (5,258) | 16,665 | ||||||||||
Issue of Common Shares in relation to stock options and equity awards, shares | 2,923,184 | |||||||||||||
Share cancellation | $ (493) | 493 | ||||||||||||
Share cancellation, shares | (76,437) | |||||||||||||
Stock-based compensation | 10,622 | 10,622 | 10,622 | |||||||||||
Deferred tax on stock-based compensation | 359 | 359 | 359 | |||||||||||
Acquisition of non-controlling interest | (358) | 467 | 467 | (825) | ||||||||||
Ending balance (Accounting policy change (IFRS 9)) at Dec. 31, 2017 | 43,907 | 213 | 43,694 | 43,907 | ||||||||||
Ending balance (Restated for IFRS 9) at Dec. 31, 2017 | 2,347,338 | $ 1,199,834 | $ 684,385 | (142,127) | 605,213 | 2,347,305 | 33 | |||||||
Ending balance at Dec. 31, 2017 | 2,303,431 | [2] | $ 1,199,834 | $ 684,385 | (142,340) | 561,519 | 2,303,398 | 33 | ||||||
Ending balance, shares (Restated for IFRS 9) at Dec. 31, 2017 | 147,947,874 | 1,139,249 | ||||||||||||
Ending balance, shares at Dec. 31, 2017 | 147,947,874 | 1,139,249 | ||||||||||||
Net (loss) earnings | (108,906) | (102,452) | (102,452) | (6,454) | ||||||||||
Other comprehensive loss | (100,032) | (98,101) | (98,101) | (1,931) | ||||||||||
Total comprehensive (loss) income | (208,938) | (98,101) | (102,452) | (200,553) | (8,385) | |||||||||
Issue of Common Shares in relation to stock options and equity awards | 31,066 | $ 38,048 | (6,982) | 31,066 | ||||||||||
Issue of Common Shares in relation to stock options and equity awards, shares | 1,791,860 | |||||||||||||
Conversion of Preferred Shares to Common Shares | $ 684,385 | $ (684,385) | ||||||||||||
Conversion of Preferred Shares to Common Shares, shares | 60,013,510 | (1,139,249) | ||||||||||||
Issue of Common Shares in connection with acquired subsidiaries | 1,477,478 | $ 1,477,478 | 1,477,478 | |||||||||||
Issue of Common Shares in connection with acquired subsidiaries, shares | 41,049,398 | |||||||||||||
Issue of Common Shares in connection with Equity Offering | 690,353 | $ 690,353 | 690,353 | |||||||||||
Issue of Common Shares in connection with Equity Offering, shares | 18,875,000 | |||||||||||||
Issue of Common Shares in connection with market access agreement | 20,661 | $ 20,661 | 20,661 | |||||||||||
Issue of Common Shares in connection with market access agreement, shares | 1,076,658 | |||||||||||||
Issue of Common Shares in connection with exercised warrants | $ 14,688 | (14,688) | ||||||||||||
Issue of Common Shares in connection with exercised warrants, shares | 2,422,944 | |||||||||||||
Stock-based compensation | 12,806 | 12,806 | 12,806 | |||||||||||
Reversal of deferred tax on stock-based compensation | [3] | (359) | (359) | (359) | ||||||||||
Equity fees | (5,413) | $ (5,413) | (5,413) | |||||||||||
Reversal of 2014 deferred tax | (3,747) | (3,747) | (3,747) | |||||||||||
Acquisition of non-controlling interest | (207,845) | (220,178) | (220,178) | 12,333 | ||||||||||
Ending balance at Dec. 31, 2018 | $ 4,153,400 | $ 4,116,287 | $ (469,629) | $ 502,761 | $ 4,149,419 | $ 3,981 | ||||||||
Ending balance, shares at Dec. 31, 2018 | 273,177,244 | |||||||||||||
|
X | ||||||||||
- Definition The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition The amount of residual interest in the assets of the entity after deducting all its liabilities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition The increase (decrease) in equity resulting from the acquisition of subsidiaries. [Refer: Subsidiaries [member]] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The increase (decrease) in equity resulting from the conversion of convertible instruments. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition The increase (decrease) in equity resulting from share-based payment transactions. [Refer: Equity] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The increase in equity through the issue of equity instruments. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition The number of shares that have been authorised and issued, reduced by treasury shares held. [Refer: Treasury shares] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition The amount of income and expense (including reclassification adjustments) that is not recognised in profit or loss as required or permitted by IFRSs. [Refer: IFRSs [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition The total of income less expenses, excluding the components of other comprehensive income. [Refer: Other comprehensive income] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition The amount of cost related to the issuance of shares. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition Changes in non-controlling interest through acquisition. No definition available.
|
X | ||||||||||
- Definition Conversion of preferred shares to common shares number of shares. No definition available.
|
X | ||||||||||
- Definition Deferred tax on stock based compensation. No definition available.
|
X | ||||||||||
- Definition Issue of common shares in connection with acquired subsidiaries number of shares. No definition available.
|
X | ||||||||||
- Definition Issue of common shares in connection with equity offering number of shares. No definition available.
|
X | ||||||||||
- Definition Issue of common shares in connection with exercised warrants. No definition available.
|
X | ||||||||||
- Definition Issue of common shares in connection with exercised warrants, number of shares No definition available.
|
X | ||||||||||
- Definition Issue of common shares in connection with market access agreement. No definition available.
|
X | ||||||||||
- Definition Issue of common shares in connection with market access agreement number of shares. No definition available.
|
X | ||||||||||
- Definition Issue of Common Shares in relation to stock options and equity awards. No definition available.
|
X | ||||||||||
- Definition Issue of common shares in relation to stock options and equity awards, number of shares. No definition available.
|
X | ||||||||||
- Definition Reversal of 2014 deferred tax. No definition available.
|
X | ||||||||||
- Definition Reversal of deferred tax on stock-based compensation. No definition available.
|
X | ||||||||||
- Definition Share cancellation. No definition available.
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X | ||||||||||
- Definition Share cancellation number of shares.. No definition available.
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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Consolidated Statement of Changes in Equity (Parenthetical) $ in Millions |
12 Months Ended |
---|---|
Dec. 31, 2018
USD ($)
| |
Statement Of Changes In Equity [Abstract] | |
Adjustment to amounts recognized in common stock | $ 3.7 |
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Adjustment to common stock. No definition available.
|
Consolidated Statement of Cash Flow - USD ($) $ in Thousands |
12 Months Ended | |||||||
---|---|---|---|---|---|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
|||||||
Operating activities | ||||||||
Net (loss) earnings | $ (108,906) | $ 259,285 | [1] | |||||
Add (deduct): | ||||||||
Income tax (recovery) expense recognized in net earnings | (988) | 27,208 | ||||||
Net financing charges | 363,884 | 156,842 | ||||||
Depreciation and amortization | 282,806 | 147,186 | ||||||
Stock-based compensation | 12,806 | 10,622 | ||||||
Acquisition of market access rights in connection with Eldorado | 20,661 | |||||||
Unrealized loss (gain) on foreign exchange | (25,336) | 10,324 | ||||||
Unrealized (gain) on investments | (673) | (170) | ||||||
Impairment (reversal of impairment) of property and equipment, intangible assets and assets held for sale | 6,156 | (6,799) | ||||||
Net (earnings) loss from associates | (1,068) | 2,569 | [1] | |||||
Realized loss (gain) on current investments and promissory note | 2,727 | (50,038) | ||||||
Income taxes paid | (41,117) | (9,357) | ||||||
Changes in non-cash operating elements of working capital | (9,403) | (3,801) | ||||||
Customer deposit liability movement | 7,637 | (30,924) | ||||||
Other | (14) | 2,301 | ||||||
Net cash inflows from operating activities | 559,844 | 494,600 | ||||||
Investing activities | ||||||||
Acquisition of subsidiaries, net of cash acquired | (1,865,262) | (6,516) | ||||||
Additions to intangible assets | (28,202) | (1,893) | ||||||
Additions to property and equipment | (33,952) | (10,997) | ||||||
Additions to deferred development costs | (51,574) | (23,212) | ||||||
Net sale of investments utilizing customer deposits | 19,515 | 117,106 | ||||||
Cash movement from (to) restricted cash | 35,000 | |||||||
Settlement of promissory note | 8,084 | |||||||
Net investment in associates | 1,068 | (2,000) | ||||||
Proceeds on disposal of interest in associate classified as held for sale | 16,127 | |||||||
Sale of investments | 88,760 | |||||||
Settlement of minimum revenue guarantee | (7,006) | (9,311) | ||||||
Other | (3,760) | (1,298) | ||||||
Net cash (outflows) inflows from investing activities | (1,934,173) | 174,850 | ||||||
Financing activities | ||||||||
Issuance of Common Shares | 717,250 | |||||||
Transaction costs on issuance of Common Shares | (32,312) | |||||||
Issuance of Common Shares in relation to stock options | 31,066 | 16,665 | ||||||
Redemption of SBG preferred shares | (663,407) | |||||||
Repayment of shareholder loan on acquisition | (10,879) | |||||||
Issuance of long-term debt | 5,957,976 | |||||||
Transaction costs on long-term debt | (36,559) | (4,719) | ||||||
Repayment of long-term debt | (2,974,393) | (139,913) | ||||||
Repayment of long-term debt assumed on business combination | (1,079,729) | |||||||
Interest paid | (186,162) | (124,627) | ||||||
Net proceeds on loan from non-controlling interest | 31,730 | |||||||
Payment of deferred consideration | (197,510) | |||||||
Settlement of derivatives | (125,822) | 13,904 | ||||||
Acquisition of further interest in subsidiaries | (48,240) | |||||||
Settlement of margin | (7,602) | |||||||
Capital contribution from non-controlling interest | 12,060 | |||||||
Net cash inflows (outflows) from financing activities | 1,592,579 | (443,802) | ||||||
Increase in cash and cash equivalents | 218,250 | 225,648 | ||||||
Unrealized foreign exchange difference on cash and cash equivalents | (7,497) | 16,991 | ||||||
Cash and cash equivalents – beginning of period | 510,323 | [2] | 267,684 | |||||
Cash and cash equivalents - end of period | $ 721,076 | $ 510,323 | [2] | |||||
|
X | ||||||||||
- Definition Adjustments for depreciation and amortisation expense to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Depreciation and amortisation expense; Profit (loss)] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition Adjustments for finance costs to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Finance costs; Profit (loss)] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition Adjustments for income tax expense to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition Adjustments for share-based payments to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition Adjustments for unrealised foreign exchange losses (gains) to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition The cash flows from (used in) financing activities, which are activities that result in changes in the size and composition of the contributed equity and borrowings of the entity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition The cash flows from (used in) investing activities, which are the acquisition and disposal of long-term assets and other investments not included in cash equivalents. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition The cash flows from (used in) operating activities, which are the principal revenue-producing activities of the entity and other activities that are not investing or financing activities. [Refer: Revenue] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition The aggregate cash flows used in obtaining control of subsidiaries or other businesses, classified as investing activities. [Refer: Subsidiaries [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition The effect of exchange rate changes on cash and cash equivalents held or due in a foreign currency. [Refer: Cash and cash equivalents] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition The cash outflow for income taxes paid, classified as operating activities. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition The increase (decrease) in cash and cash equivalents. [Refer: Cash and cash equivalents] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition The increase (decrease) in working capital. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition The cash outflow for interest paid, classified as financing activities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Inflows (outflows) of cash, classified as investing activities, that the entity does not separately disclose in the same statement or note. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Inflows (outflows) of cash, classified as operating activities, that the entity does not separately disclose in the same statement or note. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition The cash inflow from borrowings obtained. [Refer: Borrowings] Reference 1: http://www.xbrl.org/2003/role/exampleRef
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X | ||||||||||
- Definition The cash inflow from proceeds from contributions of non-controlling interests. [Refer: Non-controlling interests] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition The cash inflow from the disposal of non-current assets or disposal groups classified as held for sale and discontinued operations. [Refer: Discontinued operations [member]; Disposal groups classified as held for sale [member]; Non-current assets or disposal groups classified as held for sale] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition The cash inflow from the issuing of ordinary shares. [Refer: Ordinary shares [member]] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition The total of income less expenses, excluding the components of other comprehensive income. [Refer: Other comprehensive income] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition The cash outflow for the purchases of intangible assets, classified as investing activities. [Refer: Intangible assets other than goodwill] Reference 1: http://www.xbrl.org/2003/role/exampleRef
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X | ||||||||||
- Definition The cash outflow for the purchase of interests in associates. [Refer: Associates [member]] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition The cash outflow for the purchase of interests in investments accounted for using the equity method. [Refer: Investments accounted for using equity method] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition The cash outflow for the purchases of property, plant and equipment, classified as investing activities. [Refer: Property, plant and equipment] Reference 1: http://www.xbrl.org/2003/role/exampleRef
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X | ||||||||||
- Definition The cash outflow to settle borrowings, classified as financing activities. [Refer: Borrowings] Reference 1: http://www.xbrl.org/2003/role/exampleRef
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X | ||||||||||
- Definition The entity's share of the profit (loss) of associates and joint ventures accounted for using the equity method. [Refer: Associates [member]; Investments accounted for using equity method; Joint ventures [member]; Profit (loss)] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Acquisition of market access rights. No definition available.
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X | ||||||||||
- Definition Additions to deferred development costs. No definition available.
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X | ||||||||||
- Definition Adjustments for (reversal) of impairment of assets held for sale, associates and intangible assets to reconcile profit (loss) to net cash flow from (used in) operating activities. No definition available.
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X | ||||||||||
- Definition Cash movement from (to) restricted cash. No definition available.
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X | ||||||||||
- Definition Customer deposit liability movement. No definition available.
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X | ||||||||||
- Definition Issuance of Common Shares in relation to stock options. No definition available.
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X | ||||||||||
- Definition The cash inflow from net sale of investments utilizing customer deposits, recognised in investing activities. No definition available.
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X | ||||||||||
- Definition The cash inflow (outflow) for the sale (purchase) of investments, classified as investing activities. No definition available.
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X | ||||||||||
- Definition Payment for settlement of margin. No definition available.
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X | ||||||||||
- Definition Adjustments for payment of deferred consideration to reconcile profit (loss) to net cash flow from (used in) financing activities. No definition available.
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X | ||||||||||
- Definition Proceeds from settlement of derivatives. No definition available.
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X | ||||||||||
- Definition Proceeds on loan from non-controlling interest. No definition available.
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X | ||||||||||
- Definition Realized loss (gain) on current investments and promissory note. No definition available.
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X | ||||||||||
- Definition Redemption of SBG preferred shares. No definition available.
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X | ||||||||||
- Definition Repayment of long-term debt assumed on business combination. No definition available.
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X | ||||||||||
- Definition Repayment of shareholder loan on acquisition. No definition available.
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X | ||||||||||
- Definition Settlement of minimum revenue guarantee, classified as investing activities. No definition available.
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X | ||||||||||
- Definition The cash inflow from settlement of promissory note, recognised in investing activities. No definition available.
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X | ||||||||||
- Definition Transaction costs on issuance of common shares. No definition available.
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X | ||||||||||
- Definition Transaction costs related to increase/decrease in debt. No definition available.
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X | ||||||||||
- Definition Unrealized investment (gain) loss. No definition available.
|
Nature of Business |
12 Months Ended |
---|---|
Dec. 31, 2018 | |
Nature Of Business [Abstract] | |
Nature of Business |
The Stars Group Inc. (“The Stars Group” or the “Corporation”) is a global leader in the online and mobile gaming and interactive entertainment industries, entertaining millions of customers across its online real- and play-money poker, gaming and betting product offerings. The Stars Group offers these products directly or indirectly under several ultimately owned or licensed gaming and related consumer businesses and brands, including, among others, PokerStars, PokerStars Casino, BetStars, Full Tilt, BetEasy, Sky Bet, Sky Vegas, Sky Casino, Sky Bingo, Sky Poker, and Oddschecker, as well as live poker tour and events brands, including the PokerStars Players No Limit Hold’em Championship, European Poker Tour, PokerStars Caribbean Adventure, Latin American Poker Tour, Asia Pacific Poker Tour, PokerStars Festival and PokerStars MEGASTACK. As at December 31, 2018, The Stars Group had three reportable segments, the international business (“International”), the United Kingdom business (“United Kingdom”) and the Australian business (“Australia”), each as described below, as well as a corporate cost center (“Corporate”). There are up to four major lines of operations within the Corporation’s reportable segments, as applicable: real-money online poker (“Poker”), real-money online betting (“Betting”), real-money online casino gaming and bingo (“Gaming”), and other gaming-related revenue, including, without limitation, from social and play-money gaming, live poker events, branded poker rooms, Oddschecker and other nominal sources of revenue (“Other”). As it relates to these lines of operations, online revenue includes revenue generated through the Corporation’s real-money online, mobile and desktop client platforms, as applicable. The Stars Group’s primary business and main source of revenue is its online gaming businesses. These currently consist of the operations of Stars Interactive Holdings (IOM) Limited and its subsidiaries and affiliates (collectively, “Stars Interactive Group”), which it acquired in August 2014 (the ‘‘Stars Interactive Group Acquisition’’), the operations of Cyan Blue Topco Limited and its subsidiaries and affiliates (collectively, “Sky Betting & Gaming” or “SBG”), which it acquired in July 2018 (the “SBG Acquisition”), and TSG Australia Pty Ltd (formerly CrownBet Holdings Pty Limited) and its subsidiaries and affiliates, including TSGA Holdco Pty Limited (formerly William Hill Australia Holdings Pty Ltd) and its subsidiaries and affiliates (“TSGA” and where the context requires, collectively, “BetEasy”), which it acquired an 80% equity interest in between February 2018 and April 2018 (BetEasy acquired TSGA in April 2018) (collectively, the “Australian Acquisitions”). The Stars Interactive Group is headquartered in the Isle of Man and operates globally; SBG is headquartered in and primarily operates in the United Kingdom; and BetEasy is headquartered in and primarily operates in Australia. The International segment currently includes the Stars Interactive Group business, and operates across all lines of operations and in various jurisdictions around the world, including the United Kingdom, under the brands identified above in this note 1; the United Kingdom segment currently consists of the business operations of Sky Betting & Gaming, including those outside of the United Kingdom, and operates across all lines of operations primarily in the United Kingdom; and the Australia segment currently consists of the business operations of BetEasy, and operates within the Betting line of operation and primarily in Australia under the BetEasy brand. Prior segmental results for the year ended December 31, 2017 have been recast to be presented in a manner consistent with the changed reporting segments. See note 7. The Stars Group was incorporated on January 30, 2004 under the Companies Act (Quebec) and continued under the Business Corporations Act (Ontario) on August 1, 2017. The registered head office is located at 200 Bay Street, South Tower, Suite 3205, Toronto, Ontario, Canada, M5J 2J3 and its common shares (“Common Shares”) are listed on the Toronto Stock Exchange (the “TSX”) under the symbol “TSGI”, and the Nasdaq Global Select Market (“Nasdaq”) under the symbol “TSG”. For reporting purposes, the Corporation prepares its consolidated financial statements in U.S. dollars. Unless otherwise indicated, all dollar (“$”) amounts and references to “USD” or “USD $” in these consolidated financial statements are expressed in U.S. dollars. References to ‘‘EUR’’ or “€” are to European Euros, references to ‘‘CDN’’ or “CDN $” are to Canadian dollars, references to “GBP” or “₤” are to British Pound Sterling and references to “AUD” or “AUD $” are to Australian dollars. Unless otherwise indicated, all references to a specific “note” refer to these notes to the consolidated financial statements of the Corporation for the year ended December 31, 2018. References to “IFRS” and “IASB” are to International Financial Reporting Standards and the International Accounting Standards Board, respectively. |
X | ||||||||||
- Definition The entire disclosure for nature of business. No definition available.
|
X | ||||||||||
- Definition Nature of business. No definition available.
|
Summary of Significant Accounting Policies |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure Of Summary Of Significant Accounting Policies [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Significant Accounting Policies |
Basis of Accounting The Corporation’s consolidated financial statements have been prepared in accordance with IFRS as issued by the IASB and have been approved and authorized for issuance by the Board of Directors on March 6, 2019. The consolidated financial statements of the Corporation have been prepared on the historical cost basis, except derivative financial instruments, financial instruments at fair value through profit or loss as well as financial instruments at fair value through other comprehensive income, each of which are measured at fair value. On January 1, 2018, the Corporation adopted the provisions in Financial Instruments (“IFRS 9”) and Revenue from Contracts with Customers (“IFRS 15”). See note 4. Significant accounting policies in relation to these adoptions are detailed below. As previously announced, in response to changes in the business following the Australian Acquisitions (as defined below and further detailed in note 7), and to align with financial measures commonly used in the industry, the Corporation made certain reclassifications during the second quarter to the comparative interim condensed consolidated financial statements to enhance their comparability with the current period’s presentation. Consistent reclassifications have been made to the comparative balances in the consolidated financial statements for the year ended December 31, 2018. As a result, certain line items have been amended in the comparative consolidated statement of earnings and financial position and the related notes to the consolidated financial statements. These reclassifications are outlined below: Consolidated Statements of (Loss) Earnings The following financial statement line items, which the Corporation first introduced during the second quarter of 2018, resulted in a re-classification of the comparative period: Cost of revenue (excluding depreciation and amortization), Gross profit (excluding depreciation and amortization) and Operating income.
Consolidated Statements of Financial Position The following re-classifications to the comparative period, which the Corporation first made during the second quarter of 2018, include the following:
Consolidated Statements of Cash Flows There were no material reclassifications to the comparative period. Going Concern The Board of Directors of the Corporation (the “Board”) have, at the time of approving the consolidated financial statements, a reasonable expectation that the Corporation has adequate resources to continue in operational existence for the foreseeable future. As such, the Corporation continues to adopt the going concern basis of accounting in preparing the consolidated financial statements. Principles of Consolidation A subsidiary is an entity controlled by the Corporation. As such, the Corporation is exposed, or has rights, to variable returns from its involvement with such entity and has the ability to affect those returns through its current ability to direct such entity’s relevant activities (i.e., control over the entity). The existence and effect of substantive voting rights that the Corporation potentially has the practical ability to exercise (i.e., substantive rights) are considered when assessing whether the Corporation controls another entity. The Corporation’s consolidated financial statements include the accounts of the Corporation and its subsidiaries. Upon consolidation, management eliminated all inter-entity transactions and balances. Non-controlling interests in subsidiaries are identified separately from the Corporation’s equity therein. Those non-controlling interests that are present ownership interests entitling their holders to a proportionate share of net assets upon liquidation may initially be measured at fair value or at the non-controlling interests’ proportionate share of the fair value of the subsidiary’s identifiable net assets. The choice of measurement is made on an acquisition-by-acquisition basis. Other non-controlling interests are initially measured at fair value. Subsequent to acquisition, the carrying amount of non-controlling interests is the amount of those interests at initial recognition plus the non-controlling interests’ share of subsequent changes in equity. “Total comprehensive income” is attributed to non-controlling interests even if this results in the non-controlling interests having a deficit balance. Upon the loss of control of a subsidiary, the Corporation’s profit or loss on disposal is calculated as the difference between (i) the fair value of the consideration received and of any investment retained in the former subsidiary and (ii) the previous carrying amount of the assets (including any goodwill) and liabilities of the subsidiary and any non-controlling interests. Revenue Recognition The Corporation has applied IFRS 15 from January 1, 2018. As permitted, the Corporation applied IFRS 15 using the modified retrospective approach, whereby the cumulative impact of adoption is recognized in opening retained earnings. Comparative information for 2017 has not been restated. See note 4. The adoption of IFRS 15 did not have a material impact on the timing and amount of revenue recognized by the Corporation and the Corporation did not apply the available optional practical expedients. Revenue from contracts with customers is recognized when control of the Corporation’s services is transferred to the customer at an amount that reflects the consideration to which the Corporation expects to be entitled in exchange for those services. The Corporation has concluded that it is the principal in its revenue arrangements because it controls the services before transferring them to the customer. The Corporation has disclosed disaggregated revenue recognized from customers and revenue from other online activities in note 7. The Company evaluates all contractual arrangements it enters into and evaluates the nature of the promised goods or services, and rights and obligations under the arrangement, in determining the nature of its performance obligations. Where such performance obligations are capable of being distinct and are distinct in the context of the contract, the consideration the Corporation expects to be entitled under the arrangement is allocated to each performance obligation based on its relative estimated stand-alone selling prices. Performance obligations that the Corporation concludes are not distinct are combined together into a single combined performance obligation. Revenue is recognized at an amount equal to the transaction price allocated to the specific performance obligation when it is satisfied, either at a point in time or over time, as applicable, based on the pattern of transfer of control. The Company’s principal arrangements include the following sources of revenue: Revenue from customers within the scope of IFRS 15 Poker revenue Poker revenue represents primarily the commission charged at the conclusion of each poker hand in cash games (i.e., rake) and entry fees for participation in poker tournaments, and is net of certain promotional expenses, which are treated as a reduction to the transaction price. In poker tournaments, entry fee revenue is recognized when the tournament has concluded. Gaming revenue Gaming revenue primarily represents the difference between the amounts of bets placed by customers less amounts won (i.e., net house win) and is presented net of certain promotional expenses which are treated as a reduction to the transaction price. Gaming transactions are instantaneously settled and revenue is recognized at a point in time. Poker and Gaming each consist of a single revenue performance obligation, notwithstanding the impact customer loyalty programs as noted below. Revenue is recognized at a point in time upon completion of the performance obligation as noted above. Poker and Gaming are each presented as revenue gross of applicable gaming duties, which are presented within cost of revenue. Conversion margins Revenue from conversion margins is the revenue earned on the processing of real-money deposits and cash outs in specified currencies. Revenue from customer cross currency deposits and withdrawals is recognized when the transaction is complete at a point in time. Revenue is recognized with reference to the underlying arrangement and agreement with the players and represents a single performance obligation and is recorded within the applicable line of operations. Other revenue from customers Play-money gaming revenue - Customers can participate in online poker tournaments and social casino games using play-money, or virtual currency. Customers can purchase additional play-money chips online to participate in the poker tournaments and social casino games. The revenue is recognized at a point in time when the customer has purchased such chips as control has been transferred to the customer and no further performance obligations exist. Once a customer has purchased such chips they are non-refundable and non-cancellable. Other - The Corporation sponsors certain live poker tours and events, uses its industry expertise to provide consultancy and support services to the casinos that operate the events, and has marketing arrangements for branded poker rooms at various locations around the world. The Corporation also provides customers with access to odds comparisons, tips and other information to assist with betting, and provides other media and advertising services, and limited content development services with revenue generated by way of affiliate commissions, revenue share arrangements and advertising income as applicable. Revenue is recognized upon satisfying the applicable performance obligations, at a point in time or over time as applicable. Revenue from customers out of the scope of IFRS 15 Betting revenue The Corporation’s income generated from Betting product offerings does not fall within the scope of IFRS 15. Income generated from these online transactions is disclosed as revenue although these transactions are accounted as derivative instruments in accordance with IFRS 9 where the income meets the definition of gains or losses, as applicable. Betting revenue primarily represents the difference between the amounts of bets placed by customers less amounts won (i.e., net house win). Open betting positions are carried at fair value, and gains and losses arising on these positions are recognized in revenue. Betting is presented as revenue gross of applicable gaming duties, which are presented within cost of revenue. Customer loyalty programs The Corporation operates loyalty programs for its customers within each of its reporting segments that reward customers based on a number of factors, including volume of play, player impact on the overall ecosystem, whether the player is a net withdrawing or net depositing player, and product and game selection. For customer loyalty programs operated by the Corporation, applicable revenue received for which loyalty rights earned by our customers are recorded as a contract liability based on the rewards’ allocated amount and are subsequently recognized as revenue in a future period when the rewards are redeemed. Customer loyalty rewards are included in accounts payable and other liabilities on the consolidated statements of financial position. The estimated selling price of loyalty rewards is determined using an equivalent cash cost approach which uses historical data of award redemption patterns considering the alternative goods or services for which the rewards can be redeemed. The estimated selling price of rewards is adjusted for an estimate of rewards that will not be redeemed based on historical redemption patterns. Historically non-redeemed loyalty rewards have not been significant. Other sources of revenue Income from player funds A portion of customer deposits is held as current investments. Income generated from current investments and dormant accounts does not fall within the scope of IFRS 15. Income generated from investments is disclosed as revenue despite being accounted for in accordance with IFRS 9 where it meets the definition of gains or losses, as applicable. Income (loss) from dormant accounts When a customer deposit account becomes dormant in accordance with Corporation’s terms and conditions, the deposit is removed from customer liabilities and recorded within accounts payable and other liabilities. Income is generated from dormant accounts that are not expected to be re-activated based on historical information and re-activation rates. Losses are recorded on dormant accounts that are re-activated. Income (loss) generated from dormant accounts is disclosed as revenue despite being accounted for in accordance with IFRS 9 where it meets the definition of gains or losses, as applicable. Cost of Revenue Cost of revenue includes direct costs associated with revenue generating activities. Such direct costs include gaming duty, processor costs, and royalties. Cost of revenue does not include depreciation and amortization. Financial Instruments The Corporation applied IFRS 9 retrospectively from January 1, 2018. In accordance with the practical expedients permitted under the standard, comparative information for 2017 has not been restated. As permitted by IFRS 9, the Corporation elected to continue to apply the hedge accounting requirements of International Accounting Standard (“IAS”) 39, Financial Instruments (“IAS 39”) rather than the new requirements of IFRS 9 and will comply with the revised annual hedge accounting disclosures as required by the related amendments to IFRS 7, Financial Instruments: Disclosures (“IFRS 7”). For further information regarding the impact of the adoption of IFRS 9, see note 4. Financial Assets Recognition and Measurement At initial recognition, the Corporation measures a financial asset at its fair value plus, in the case of a financial asset not measured at FVTPL (as defined below), transaction costs that are directly attributable to the acquisition of the financial asset. From January 1, 2018, the Corporation classifies financial assets into one of the following measurement categories:
The classification depends on the Corporation’s business model for managing the financial assets and the contractual terms of the cash flows. Except in very limited circumstances, the classification may not be changed subsequent to initial recognition. The Corporation only reclassifies debt instruments when its business model for managing those assets changes. Debt instruments Subsequent measurement of debt instruments depends on the Corporation’s business model for managing the asset and the cash flow characteristics of that asset. There are three measurement categories into which the Corporation classifies its debt instruments:
Equity instruments The Corporation subsequently measures all equity instruments at fair value, except for equity instruments for which equity method accounting is applied. The classification of equity instruments depends on whether the Corporation has made an irrevocable election at the time of initial recognition to account for the equity instruments at FVOCI. There are two measurement categories into which the Corporation classifies its equity instruments:
Impairment of financial assets At the end of each reporting period, the Corporation assesses on a forward-looking basis the expected credit losses associated with its debt instruments carried at amortized cost and FVOCI. The impairment methodology applied depends on whether there has been a significant increase in credit risk. The impairment provision recorded in respect of debt instruments carried at amortized cost and FVOCI is determined at 12-months expected credit losses on the basis that the Corporation considers these instruments as low risk. The Corporation applies the simplified approach permitted by IFRS 9 for trade receivables and other financial assets held at amortized cost, which requires expected lifetime losses to be recognized from initial recognition of the receivables. The forward-looking element in determining impairment for financial assets is derived from comparison of current and projected macroeconomic indicators covering primary markets in which the Corporation operates. Financial Liabilities Recognition and measurement Financial liabilities are classified, at initial recognition, as either financial liabilities at FVTPL or other financial liabilities.
Debt modifications The Corporation may pursue amendments to its credit agreements based on, among other things, prevailing market conditions. Such amendments, when completed, are considered by the Corporation to be debt modifications. For debt repayable at par with nominal break costs, the Corporation elected to account for such debt modifications as equivalent to repayment at no cost of the original financial instrument and an origination of a new debt at market conditions. Resetting the debt to market conditions with the same lender has the same economic substance as extinguishing the original financial instrument and originating new debt with a third-party lender at market conditions. The transaction is accounted for as an extinguishment of the original debt instrument, which is derecognized and replaced by the amended debt instrument, with any unamortized costs or fees incurred on the original debt instrument recognized as part of the gain or loss on extinguishment. For all other debt, the accounting treatment of debt modifications depends upon whether the modified terms are substantially different than the previous terms. The terms of an amended debt agreement are considered substantially different when either: (i) the discounted present value of the cash flows under the new terms, discounted using the original effective interest rate, are at least ten percent different from the discounted present value of the remaining cash flows of the original debt or (ii) management determines that other changes to the terms of the amended agreement, such as a change in the environment in which a floating interest rate is determined, are substantially different. If the modification is considered to be substantially different, the transaction is accounted for as an extinguishment of the original debt instrument, which is derecognized and replaced by the amended debt instrument, with any unamortized costs or fees incurred on the original debt instrument recognized as part of the gain or loss on extinguishment. If the modification is not considered to be substantially different, an adjustment to the carrying amount of the original debt instrument is recorded, which is calculated as the difference between the original contractual cash flows and the modified cash flows discounted at the original effective interest rate with the difference recognized in net financing changes on the consolidated statements of (loss) earnings. Transaction costs Transaction costs that are directly attributable to the acquisition or issuance of financial assets and financial liabilities (other than financial assets and financial liabilities that are classified as FVTPL) are added to or deducted from, as applicable, the fair value of the financial instrument on initial recognition. These costs are expensed to financial expenses on the consolidated statements of (loss) earnings over the term of the related interest bearing financial asset or financial liability using the effective interest method. When a debt facility is retired by the Corporation, any remaining balance of related debt transaction costs is expensed to financial expenses in the period that the debt facility is retired. Transaction costs related to financial instruments at FVTPL are expensed when incurred.
Classification and impairment of financial assets other than derivatives prior to January 1, 2018 under IAS 39 Financial assets are initially recognized at fair value and are classified as either FVTPL, “available-for-sale” or as “loans and receivables”. The classification depends on the purpose for which the financial instruments were acquired and their respective characteristics. Fair value through profit or loss Financial assets at FVTPL are financial assets held-for-trading. A financial asset is classified in this category if acquired principally for the purpose of selling in the short-term or as otherwise determined by management to be in this category. Financial assets classified at FVTPL are measured at fair value with the realized and unrealized changes in fair value recognized each reporting period in the consolidated statements of (loss) earnings. The Corporation classified certain short-term investments as FVTPL as at December 31, 2017. Available-for-sale Available-for-sale assets are financial assets that are either designated in this category or not classified in any of the other categories. Such assets are included in other non-current financial assets unless management intends to dispose of them within 12 months of the date of the consolidated statements of financial position. Financial assets classified as available-for-sale are carried at fair value with changes in fair value recorded in the consolidated statements of comprehensive (loss) income. Interest on available-for-sale assets is calculated using the effective interest rate method and is recognized in the consolidated statements of (loss) earnings. When a decline in fair value is determined to be significant or prolonged, the cumulative loss included in accumulated other comprehensive income (loss) is reclassified as such and then recognized in the consolidated statements of (loss) earnings. Gains and losses realized on the disposal of available-for-sale assets are recognized in the consolidated statements of (loss) earnings. The Corporation classifies certain current and noncurrent investments as available-for-sale. Loans and receivables Loans and receivables are financial assets with fixed or determinable payments but which are not quoted in an active market. All such assets with maturities equal to or less than 12 months from the date of the consolidated statements of financial position are classified as current assets, while those with maturities greater than 12 months from such date are classified as non-current assets. Financial instruments classified as loans and receivables are initially recorded at fair value and subsequently measured at amortized cost using the effective interest method. The Corporation classifies accounts receivable and promissory notes as loans and receivables. Impairment At the end of each reporting period, the Corporation assesses whether a financial asset or a group of financial assets, other than those classified as FVTPL, is impaired. If there is objective evidence that impairment exists, the loss is recognized in the consolidated statements of (loss) earnings. The impairment loss is measured as the difference between the acquisition cost and the current fair value, less any impairment loss on that financial asset previously recognized in the consolidated statements of (loss) earnings. Derivatives As permitted by IFRS 9, the Corporation elected to continue to apply the hedge accounting requirements of IAS 39 rather than the new requirements of IFRS 9 and will comply with the revised annual hedge accounting disclosures as required by the related amendments to IFRS 7. The Corporation uses derivative instruments for risk management purposes and does not use derivative instruments for speculative trading purposes (except for derivatives with respect to the Corporation’s Betting line of operations, which are transactions within the scope of IFRS 9 but reported as revenue as discussed above). All derivatives are recorded at fair value in the consolidated statements of financial position. The accounting for subsequent changes in fair value depends on whether the derivative is designated as a hedging instrument, and if so, the nature of the item being hedged. For derivatives not designated as hedging instruments, the re-measurement of those derivatives each period is recognized in the consolidated statements of (loss) earnings. Derivatives may be embedded in other financial liabilities and non-financial instruments (i.e., the host instrument). Embedded derivatives are treated as separate derivatives when their economic characteristics and risks are not closely related to those of the host instrument, the terms of the embedded derivative are the same as those of a stand-alone derivative and the combined instrument (i.e., the embedded derivative plus the host instrument) is not held-for-trading or designated at fair value. These embedded derivatives are measured at fair value with subsequent changes recognized in the consolidated statements of (loss) earnings. A derivative embedded within a hybrid contract containing a financial asset host is not accounted for separately under IFRS 9. The financial asset host together with the embedded derivative is required to be classified in its entirety as a financial asset at FVTPL. Hedge accounting The Corporation designates certain derivatives as either:
At inception of the hedge relationship, the Corporation formally documents how the hedging relationship meets the hedge accounting criteria. It also records the economic relationship between the hedged item and the hedging instrument, including the nature of the risk, the risk management objective and strategy for undertaking the hedge and the method that will be used to assess the effectiveness of the hedging relationship at inception and on an ongoing basis. Cash flow hedges The Corporation uses derivatives for cash flow hedges. The effective portion of the change in fair value of the hedging instrument is recorded in other comprehensive income and accumulated in the cash flow hedging reserve, while the ineffective portion is recognized immediately in the consolidated statements of (loss) earnings. Gains and losses on cash flow hedges accumulated in other comprehensive (loss) income are reclassified to the consolidated statements of (loss) earnings in the same period the hedged item affects the consolidated statements of (loss) earnings. If the forecast transaction is no longer expected to occur, the hedge no longer meets the criteria for hedge accounting, the hedging instrument expires or is sold, terminated or exercised, or the designation is revoked, the hedge accounting is discontinued prospectively. If the forecast transaction is no longer expected to occur, then the amount accumulated in equity is reclassified to the consolidated statements of (loss) earnings. Net investment hedges Hedges of net investments in foreign operations are accounted for similarly to cash flow hedges. Any gain or loss on the hedging item relating to the effective portion of the hedge is recognized in other comprehensive income and accumulated under the heading cumulative translation adjustments reserve. The gain or loss relating to the ineffective portion is recognized immediately in the consolidated statements of (loss) earnings. Gains and losses accumulated in other comprehensive income are reclassified to the consolidated statements of (loss) earnings when the foreign operation is partially disposed of or sold. Determination of fair value Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the applicable measurement date. When measuring the fair value of an asset or a liability, the Corporation uses market observable data to the extent possible. If the fair value of an asset or a liability is not directly observable, it is estimated by the Corporation using valuation techniques that maximize the use of relevant observable inputs and minimize the use of unobservable inputs (e.g., by the use of the market comparable approach that reflects recent transaction prices for similar items, discounted cash flow analysis, or option pricing models refined to reflect the Corporation’s specific circumstances). Inputs used are consistent with the characteristics of the asset or liability that market participants would take into account. For the Corporation’s financial instruments which are recognized in the consolidated statements of financial position at fair value, the fair value measurements are categorized based on the lowest level input that is significant to the fair value measurement in its entirety and the degree to which the inputs are observable. The significance levels are classified as follows in the fair value hierarchy: Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 – Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly; and Level 3 – Inputs for the asset or liability that are not based on observable market data. Transfers between levels of the fair value hierarchy are recognized by the Corporation at the end of the reporting period during which the transfer occurred. Cash and cash equivalents Cash and cash equivalents comprise cash in hand, bank deposits and other short-term highly liquid investments with maturities of three months or less, which are generally used by the Corporation to meet short-term liquidity requirements. Leases Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. All other leases are classified as operating leases. The Corporation assessed all its leases to be operating leases. The Corporation as lessor Rental income from operating leases is recognized on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognized on a straight-line basis over the lease term. The Corporation as lessee Rents payable under operating leases are recognized as an expense on a straight-line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed. Contingent rentals arising under operating leases are recognized as an expense in the period in which they are incurred. In the event that lease incentives are received to enter into operating leases, such incentives are recognized as a liability. The aggregate benefit of any such incentive is recognized as a reduction of rental expense on a straight-line basis over the lease term, except where another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed. Prepaid Expenses and Deposits Prepaid expenses and deposits consist of amounts paid in advance or deposits made for which the Corporation will receive goods or services. Property and Equipment Property and equipment which have finite lives are recorded at cost less accumulated depreciation and impairment losses. Depreciation is expensed from the month the particular asset is available for use, over the estimated useful life of such asset at the following rates, which in each case are intended to reduce the carrying value of the asset to the estimated residual value:
Intangible Assets Intangible assets which have finite lives are recorded at cost less accumulated amortization and impairment losses. Amortization is expensed from the month the particular asset is available for use, over the estimated useful life of such asset at the following rates, which in each case are intended to reduce the carrying value of the asset to the estimated residual value:
The amortization method, useful life and residual values are assessed annually and the assets are tested for impairment, whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Upon retirement or disposal, the cost of the asset disposed of and the related accumulated amortization are removed from the consolidated statements of financial position and any gain or loss is reflected in the consolidated statements of (loss) earnings. Expenditures for repairs and maintenance are expensed as incurred. The Corporation determined that its owned brands have indefinite useful lives as they have no foreseeable limit to the period over which such assets are expected to contribute to the Corporation’s cash flows. In addition, the Corporation expects to continue to support its brands with ongoing marketing efforts. The Corporation tests its owned brands for impairment at least annually, or more frequently if circumstances such as significant declines in expected sales, net earnings or cash flows indicate that the cash-generating units (“CGUs”) to which such brands relate might be impaired. Goodwill Goodwill represents the excess of the purchase price over the fair value of the identifiable net assets acquired in a business acquisition. After initial recognition, goodwill is measured at cost less any accumulated impairment losses. Goodwill is tested for impairment at least annually, or more frequently if circumstances such as significant declines in expected sales, net earnings or cash flows indicate that that the CGUs or group of CGUs to which goodwill is allocated might be impaired. The Corporation monitors and tests goodwill for impairment at the operating segment level. Research and Development Research and development costs are expensed except in cases where development costs meet certain identifiable criteria for deferral. Deferred development costs, which have probable future economic benefits, can be clearly defined and measured, and are incurred for the development of new products or technologies, are capitalized. These development costs, net of related research and development investment tax credits, are not amortized until the products or technologies are commercialized or when the asset is available for use, at which time, they are amortized over the estimated life of the commercial production of such products or technologies. The amortization method and the life of the commercial production are assessed annually and the assets are tested for impairment whenever an indication exists that an asset might be impaired. The Corporation claims research and development investment tax credits as a result of incurring scientific research and experimental development expenditures. Research and development investment tax credits are recognized when the related expenditures are incurred and there is reasonable assurance of their realization. Investment tax credits are accounted for by the cost reduction method whereby the amounts of tax credits are applied as a reduction of the expense or deferred development costs. Investments Investments are stated at the lower of cost and fair market value. Cost is determined on a weighted average basis at a consolidated level. Investments in Associates An associate is an entity over which the Corporation has significant influence and that is neither a subsidiary nor an interest in a joint venture. Significant influence is the power to participate in the financial and operating policy decisions of the associate but is not the control or joint control over those policy decisions. The results and assets and liabilities of associates are incorporated in these consolidated financial statements using the equity method of accounting, except when the investment is classified as held for sale, in which case it is accounted for in accordance with IFRS 5, Non-current Assets Held for Sale and Discontinued Operations. Under the equity method, an investment in an associate is initially recognized in the consolidated statements of financial position at cost and adjusted thereafter to recognize the Corporation’s share of the profit or loss and other comprehensive income of the associate. When the Corporation's share of losses of an associate exceeds the Corporation's interest in that associate (which includes any long-term interests that, in substance, form part of the Corporation's net investment in the associate), the Corporation discontinues recognizing its share of further losses. Additional losses are recognized only to the extent that the Corporation has incurred legal or constructive obligations or made payments on behalf of the associate. An investment in an associate is accounted for using the equity method from the date on which the investee becomes an associate. On acquisition of the investment in an associate, any excess of the cost of the investment over the Corporation's share of the net fair value of the identifiable assets and liabilities of the associate is recognized as goodwill, which is included within the carrying amount of the investment. Any excess of the Corporation's share of the net fair value of the identifiable assets and liabilities over the cost of the investment, after reassessment, is recognized immediately in the consolidated statements of (loss) earnings in the period in which the investment is acquired. The requirements of IAS 36, Impairment of Assets (“IAS 36”) are applied to determine whether it is necessary to recognize any impairment loss with respect to the Corporation’s investment in an associate. When necessary, the entire carrying amount of the investment (including goodwill) is tested for impairment as a single asset by comparing its recoverable amount (higher of value in use and fair value less costs of disposal) with its carrying amount, any impairment loss recognized forms part of the carrying amount of the investment. Any reversal of that impairment loss is recognized to the extent that the recoverable amount of the investment subsequently increases. Impairment of Non-Current Assets Management assesses, at the end of the reporting period, whether there is an indication that an asset may be impaired. If any indication exists, or when annual impairment testing for an asset is required, the Corporation estimates the asset’s recoverable amount. An asset’s or CGU’s recoverable amount is the higher of the asset’s or CGU’s fair value less costs of disposal and its value in use. When the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. In determining fair value less costs of disposal, recent market transactions are taken into account. If no such transactions can be identified, an appropriate valuation model is used. These calculations are corroborated by valuation multiples, quoted share prices for publicly traded companies or other available fair value indicators. The Corporation bases its impairment calculation on detailed budgets and forecast calculations, which are prepared for the Corporation’s assets or CGU to which such assets are allocated. These budgets and forecast calculations generally cover a period of three to five years. A long-term growth rate is calculated and applied to project future cash flows after the final year included in the forecast. Impairment losses of continuing operations are recognized in the consolidated statements of (loss) earnings in expense categories consistent with the function of the impaired asset. An impairment loss recognized for goodwill may not be reversed. At the end of the reporting period, the Corporation assesses if there is an indication that impairment losses recognized in previous periods for other assets have decreased or no longer exist. Where an impairment loss is subsequently reversed, the carrying amount of the asset or CGU is increased to the revised estimate of its recoverable amount provided that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognized in prior years. A reversal of an impairment loss is recognized immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase. Taxation Income tax expense represents the sum of current and deferred taxes. Current and deferred taxes are recognized in the consolidated statements of (loss) earnings, except to the extent they relate to items recognized in the consolidated statements of comprehensive (loss) income or directly in the consolidated statements of changes in equity. Current tax Current tax payable is based on taxable income for the year. Taxable income differs from earnings as reported in the consolidated statements of (loss) earnings because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Corporation’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the particular reporting period. Deferred tax Deferred tax is recognized on temporary differences between the carrying amounts of assets and liabilities in the Corporation’s consolidated financial statements and the corresponding tax bases used in the computation of taxable income. Deferred tax liabilities are generally recognized for all taxable temporary differences. Deferred tax assets are recognized for all deductible temporary differences to the extent that it is probable that taxable income will be available against which those deductible temporary differences can be utilized. Such deferred tax assets and liabilities are not recognized if the temporary difference arises from the initial recognition of goodwill or from the initial recognition (other than in a business combination) of other assets and liabilities in a transaction that affects neither the taxable income nor the accounting earnings. Deferred tax liabilities are recognized for taxable temporary differences associated with investments and interests in subsidiaries and associates, except where the Corporation is able to control the reversal of the temporary difference and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax assets arising from deductible temporary differences associated with such investments and interests are only recognized to the extent that it is probable that there will be sufficient taxable income against which to utilize the benefits of the temporary differences and they are expected to reverse in the foreseeable future. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable income will be available to allow all or part of any such asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset is realized, in each case based on tax rates and tax laws that have been enacted or substantively enacted by the end of the reporting period. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Corporation expects, at the end of the particular reporting period, to recover or settle the carrying amount of its assets and liabilities. Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when they relate to income taxes levied by the same taxation authority and the Corporation intends to settle its current tax assets and liabilities on a net basis. Deferred tax assets and liabilities are not discounted. Current and deferred tax are recognized in the consolidated statements of (loss) earnings, except when they relate to items that are recognized in other comprehensive income or directly in equity, in which case, the current and deferred tax are also recognized in other comprehensive income or directly in equity, respectively. Where current tax or deferred tax arises from the initial accounting for a business combination, the tax effect is included in the accounting for the business combination. Share based payments The Corporation maintains an equity-based long-term incentive award program to align interests of its management team with those of its Shareholders by focusing the management team on long-term objectives over a multi-year period, with the value of the award fluctuating based on stock price appreciation. The Corporation has two equity-based award plans and accounts for grants under these plans in accordance with the fair value-based method of accounting for stock-based compensation for the applicable period. The Corporation currently makes its equity grants under its Equity Incentive Plan dated June 22, 2015 (the “2015 Equity Incentive Plan”), which provides for grants of stock options (“Options”), Restricted Share Units (“RSU”), Deferred Share Units (“DSU”), Performance Share Units (“PSU”), Restricted Shares (“RS”), and other Common Share-based awards as the Board may determine. Prior to the Corporation’s 2015 annual shareholder meeting (the “2015 Annual Meeting”), equity-based awards were granted solely under the Corporation’s 2010 stock option plan, as amended from time to time (the “2010 Stock Option Plan” and together with the 2015 Equity Incentive Plan, the “Plans”) and consisted only of Options. The Corporation no longer grants Options under the 2010 Stock Option Plan, but it remains in effect only to govern the terms of outstanding Options granted prior to the date of the 2015 Annual Meeting. Effective for 2017, the Corporation replaced the stock option component of the long-term incentive program for its management team with a regular, annual grant program that is comprised of PSUs and RSUs. The RSUs are subject to service vesting conditions and the PSUs are subject to service, market and non-market vesting conditions. The Corporation also offers DSUs, RSUs and RS for members of its Board of Directors. Non-employee equity-settled share-based payments are measured at the fair value of the goods and services received, except where that fair value cannot be estimated reliably. If the fair value cannot be measured reliably, non-employee equity-settled share-based payments are measured at the fair value of the equity instrument granted as measured at the date the entity obtains the goods or the counterparty renders the service. Stock-based compensation expense is recognized over the contract life of the options or the option settlement date, whichever is earlier. Stock Options Compensation expense for equity-settled stock options awarded to participants under the Plans is measured at the fair value at the grant date using the Black-Scholes-Merton valuation model and is recognized using the graded vesting method over the vesting period of the options granted. Stock-based compensation expense recognized is adjusted to reflect the number of options that have been estimated by management for which conditions attaching to service will be fulfilled as of the grant date until the vesting date so that the recognized expense corresponds to the options that have vested. Stock-based compensation expense is recorded in the equity reserve when the expense is recognized in the consolidated statements of (loss) earnings. When options are exercised, any consideration received from participants as well as the related compensation cost recorded within the equity reserve are credited to share capital. Other equity-settled share based payments Restricted Share Units An RSU is a unit equivalent in value to a Common Share which entitles the holder to receive Common Shares after a specified vesting period determined by the Plan Administrator of the 2015 Equity Incentive Plan (the “Plan Administrator”), in its sole discretion. Upon settlement, holders will receive one fully paid Common Share in respect of each vested RSU. Generally, the RSUs vest in equal annual installments over a three or four-year period (graded vesting method), and subject to continued employment through each vesting date. Performance Share Units A PSU is a unit equivalent in value to a Common Share which entitles the holder to receive Common Shares based on the achievement of performance goals established by the Plan Administrator, including in consultation with management, over a performance period. Generally, the PSUs vest on the third anniversary of the date of the grant (cliff vesting), and based on a weighted mix of revenue and Adjusted EBITDA targets of the Corporation for the applicable three-year performance period as well as the individual remaining employed by, or continuing to provide services to, the Corporation. The grantee is eligible for additional PSUs (the “Additional PSUs”) up to 50% of the PSUs granted on the grant date, subject to an additional total shareholder return condition (the “TSR Condition”), and to the extent the other service and performance conditions are met. The Additional PSUs have service, non-market and market (i.e., the TSR Condition) vesting conditions, all of which must be satisfied to vest. Upon settlement, holders will receive fully paid Common Shares in proportion to the number of vested PSUs held and the level of performance achieved. Any unearned PSUs will be forfeited.
Deferred Share Units The Corporation offers DSU grants to the members of the Board. Upon settlement, holders will receive one fully paid Common Share in respect of each vested DSU. The Corporation recognizes services received in a share-based payment transaction as an expense over the requisite service period and recognizes a corresponding increase in equity as the services are received. DSUs vest immediately or over either a one-, two- or three-year period. The grant date is the date on which the Corporation and the Directors have a shared understanding of all the terms and conditions of the arrangement. If the grant date occurs after the service commencement date, then the Corporation estimates the grant-date fair value of the DSUs for the purpose of recognizing the expense from the service commencement date until the accounting grant date. All grants are subject to forfeiture if the director ceases to serve as a director prior to vesting and vested DSUs can only be settled at such time. Restricted Shares An RS is a fully paid Common Share that is subject to restrictions on transfer and a risk of forfeiture for a period of time, and which shall be held by the Corporation or its designee in escrow until such time as the restricted period lapses. The Plan Administrator shall have the authority to determine at the time of grant, the duration of the restricted period and other restrictions applicable to the restricted Common Shares. Except for the restrictions applicable to the restricted Common Shares, during the restricted period, the holder shall have all the rights and privileges of a holder of Common Shares as to the restricted Common Shares, including the right to vote. All previously outstanding RS vested and were settled during the year ended December 31, 2017. With respect to RS, RSUs, PSUs and DSUs, the Corporation doesn’t currently expect to pay any dividends during the vesting period. Therefore, the fair market value of a RS, RSU, PSU or DSU is equal to the market price of the underlying Common Share at the grant date. On the grant date, the fair value of the awards is measured using the closing TSX stock price, or the closing Nasdaq stock price if the Common Shares are not traded on the TSX. The fair market value of the Additional PSUs is determined using a simulation based valuation to reflect the probability of the market condition being met. The service and non-market conditions, do not affect the fair value of the awards at grant date. Market conditions are reflected as an adjustment (discount) to the initial estimate of fair value at grant date of the instrument to be received and there is no true-up for differences between estimated and actual vesting due to market conditions. Share-based compensation expense is recognized over the vesting period in the consolidated statements of (loss) earnings with a corresponding increase to the equity reserve. Once the awards vest and are settled with the counterparty, the related amount recorded within the equity reserves is credited to share capital. Dividend Equivalents RS, RSUs, PSUs and DSUs may be credited with dividend equivalents in the form of additional RS, RSUs, PSUs, DSUs and other share-based awards, as applicable. Dividend equivalents shall vest in proportion to the awards to which they relate. Such dividend equivalents shall be computed by dividing: (i) the amount obtained by multiplying the amount of the dividend declared and paid per Common Share by the number of RS, RSUs, PSUs, DSUs or other share-based awards, as applicable, held by the participant on the record date for the payment of such dividend, by (ii) the highest closing price of the Common Shares on any stock exchange on which the Common Shares are then listed on the date of grant, at the close of the first business day immediately following the dividend record-date. Provisions Provisions represent liabilities of the Corporation for which the amount or timing of payment is uncertain. Provisions are recognized when the Corporation has a present legal or constructive obligation as a result of past events, it is probable that an outflow of resources will be required to settle the obligation, and the amount can be reliably estimated. Provisions are measured at the present value of the expected expenditures required to settle the obligation using a discount rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in provisions due to the passage of time is recognized in interest accretion within net financing charges on the consolidated statements of (loss) earnings. Contingent liabilities Contingent liabilities are possible obligations the existence of which will be confirmed by uncertain future events that are not wholly within the control of the entity. Contingent liabilities also include obligations that are not recognized because their amount cannot be measured reliably or because settlement is not probable. A contingent liability is not recognized in the consolidated statements of financial position. However, unless the possibility of an outflow of economic resources is remote, a contingent liability is disclosed in the notes. Translation of Foreign Operations and Foreign Currency Transactions Functional and presentation currency IFRS requires entities to consider primary and secondary indicators when determining functional currency. Primary indicators are closely linked to the primary economic environment in which the entity operates and are given more weight. Secondary indicators provide supporting evidence to determine an entity’s functional currency. Once the functional currency of an entity is determined, it should be used consistently, unless significant changes in economic factors, events and conditions indicate that the functional currency has changed. A change in functional currency is accounted for prospectively from the date of the change by translating all items into the new functional currency using the exchange rate at the date of the change. Based on an analysis of the primary and secondary indicators, the functional currency of each of the Corporation and its subsidiaries have been determined. The functional currency of the Corporation is CDN. The Corporation’s consolidated financial statements are presented in U.S. dollars. Transactions and balances Foreign currency transactions are translated into the applicable functional currency using the exchange rates prevailing on the dates of the transactions or valuation where items are re-measured. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized within general and administrative expenses. Group companies The results and financial position of the Corporation’s subsidiaries that have a functional currency different from the Corporation’s presentation currency are translated into the presentation currency as follows:
Business Combinations Business combinations are accounted for using the acquisition method. Under this method, the identifiable assets acquired and liabilities assumed, including contingent liabilities, are recognized in the consolidated statements of financial position at their respective fair values. Goodwill is recorded based on the excess of the fair value of the consideration transferred over the fair value of the Corporation’s interest in the acquiree’s net identifiable assets on the date of the acquisition. Any excess of the identifiable net assets over the consideration transferred is immediately recognized in the consolidated statements of (loss) earnings. The consideration transferred by the Corporation to acquire control of an entity is calculated as the sum of the acquisition-date fair values of the assets transferred, liabilities incurred and equity interests issued by the Corporation, including the fair value of all the assets and liabilities resulting from a deferred contingent payment arrangement. Acquisition-related costs are expensed as incurred. Operating Segments Segments are reported in a manner consistent with the internal reporting provided to the Corporation’s Chief Operating Decision Maker (“CODM”). The Corporation’s CODM consists of its Chief Executive Officer, Chief Financial Officer and Chief Corporate Development Officer, as this group is responsible for allocating resources to, and assessing the performance of, the operating segments of the Corporation. Key sources of estimation uncertainty Determining the carrying amounts of some assets and liabilities requires estimation of the effects of uncertain future events on those assets and liabilities at the end of the reporting period. The following discussion sets forth key sources of estimation uncertainty at the end of the reporting period, that management believes have a significant risk of resulting in a material adjustment to the carrying amounts of assets and liabilities within the next financial year. Goodwill impairment At least annually, the Corporation tests whether goodwill is subject to any impairment in accordance with the applicable accounting policy set forth in note 2. The Corporation applied judgment in the allocation of goodwill to the identified cash-generating units (“CGUs”). Prior to the SBG Acquisition, the Corporation identified potential synergy benefits that management estimated would be realized in both the International and United Kingdom CGUs and accordingly attributed a portion of the goodwill recognized from the SBG Acquisition to the International CGU for impairment testing purposes, given the synergies were taken into account when determining an appropriate purchase price. The annual recurring synergy benefit applicable to each CGU was calculated and the net present value of this recurring benefit to each CGU was used to allocate the appropriate proportion of goodwill accordingly. The recoverable amount for any CGU or group of CGUs is determined based on the higher of fair value less costs to sell and value in use. Both valuation approaches require management to use judgments and estimates. Goodwill impairment exists when the carrying value of a CGU or group of CGUs exceeds its recoverable amount. Estimates used in determining the recoverable amount include but are not limited to expected cash flows, growth rates, capital expenditures and discount rates. A change in future earnings or any other assumptions may have a material impact on the fair value of the CGU or group of CGUs, and could result in an impairment loss. See note 11. Valuation of deferred contingent payment on acquisition of non-controlling interest As part of the incremental acquisition of an 18% equity interest in BetEasy, BetEasy’s management team will be entitled to an additional payment of up to AUD 239 million in 2020, subject to certain performance conditions primarily related to its EBITDA, and payable in cash and/or additional Common Shares at The Stars Group’s discretion. The Corporation considered this additional payment to be a contingent consideration and accounted for it as part of the purchase price related to the acquisition of the 18% equity interest in BetEasy. The deferred contingent payment is subsequently recorded at fair value at each balance sheet date, with re-measurements recorded within net financing charges in the consolidated statements of (loss) earnings. In valuing the deferred contingent payment as at December 31, 2018, the Corporation used a discount rate of 10.5%, considering the term of the deferred contingent payment period and credit risk. The Corporation applied a volatility of historical EBITDA for comparable companies of 25%, which was based on historical performance and market indicators. See notes 5 and 26. Uncertain tax positions Determining the Corporation’s income tax and its provisions for income taxes involves a significant degree of estimation and judgment, particularly in respect of open tax returns relating to prior years where the liabilities remain to be agreed with the local tax authorities. The Corporation is also subject to tax authority audits and has a number of open tax enquiries. As a result, it has recognized a number of provisions against uncertain tax positions that are recognized based on management’s best estimate of the outcome after taking into consideration all available evidence, and where appropriate, after taking external advice. The tax provisions recorded in the Corporation’s consolidated financial statements in respect of prior years relate to intercompany trading and financing arrangements entered into in the normal course of business and tax audits that are currently in progress with fiscal authorities. Due to the uncertainty associated with such tax items it is possible that at a future date, on resolution of the open tax matters, the final outcome may vary significantly and there is the potential for a material adjustment to the carrying amounts of the liability recorded as a result of this estimation uncertainty. Critical accounting estimates and judgments The preparation of the Corporation’s consolidated financial statements requires management to make estimates and assumptions concerning the future. It also requires management to exercise its judgment in applying the Corporation’s accounting policies. Estimates and judgments are continuously evaluated and are based on historical experience, general economic conditions, and trends and other factors, including expectations of future events. Estimates and their underlying assumptions are reviewed on a regular basis and the effects of any changes are recognized immediately. Changes in the status of certain facts or circumstances could result in material changes to the estimates used in the preparation of the consolidated financial statements and actual results could differ from the Corporation’s estimates. The following discussion sets forth what management believes to be the most significant estimates and assumptions in determining the value of assets and liabilities and the most significant judgments in applying the Corporation’s accounting policies. Determination of purchase price allocations and deferred contingent payments Management makes certain judgments and estimates in the recognition and measurement of assets and liabilities, including separately identifiable intangibles acquired as part of a business combination. Further, management also makes judgments and estimates in determining the value of deferred contingent payments that should be recorded as part of the consideration on the date of acquisition and changes in deferred contingent payments payable in subsequent reporting periods. The deferred contingent payment relating to the incremental acquisition of an 18% equity interest in BetEasy is discussed above in key sources of estimation uncertainty and in note 26. Business combinations may result in the recognition of certain intangible assets, recognized at fair value, including but not limited to, software technology, customer relationships, below market significant contracts, and brands. Judgment is applied in the identification of “identifiable” intangible assets which requires that an asset must be separable or must arise from contractual or other legal rights to distinguish it from goodwill. Specifically, customer relationships recognized in respect of the SBG Acquisition and the Australian Acquisitions are primarily in respect of non-contractual relationships from which the acquired companies have a practice and history of establishing contracts (i.e., customers that have previously engaged in online gaming transactions and are expected to engage in future online gaming transactions) Key estimates made by management in connection with the measurement of acquired intangible assets relating to the SBG Acquisition and the Australian Acquisitions, included:
Acquisition of BetEasy – Control assessment The Corporation acquired a 62% equity interest in BetEasy on February 27, 2018, and a further 18% equity interest on April 24, 2018. As is typical, the shareholders agreement entered into with the minority shareholders of BetEasy in connection with these transactions includes a number of rights and protections for the minority shareholders in certain circumstances that are directly harmful to the minority, including as it relates to significant changes to business scope, material acquisitions or financing. In the Corporation’s judgment such minority shareholder rights are protective rights and the Corporation has control in accordance with IFRS 3, Business Combinations. Useful lives of long-lived assets Estimates are used for each component of an asset’s useful life and is based on an analysis of all pertinent factors including, but not limited to, the expected use of the asset and, in the case of intangible assets, where applicable, contractual provisions that enable the renewal or extension of the asset’s legal or contractual life without substantial cost, as well as renewal history or the expected period of future benefit of the intangible asset. Incorrect estimates of useful lives could result in an increase or decrease in the annual amortization expense and future impairment charges. As noted above, the Corporation acquired significant intangible assets in connection with the SBG Acquisition and the Australian Acquisition. Management used estimates in determining the useful lives for these acquired intangible assets using information regarding, among other things, details of the contractual terms, historical customer activity and attrition, forecasted cash flow information, and market conditions and trends. Debt extinguishment The Corporation applied judgment in determining whether transactions related to its long-term debt during the period should be classified as an extinguishment or modification of such debt. The Corporation considers long-term debt that is pre-payable with no significant termination costs as being extinguished when contractual amendments are made. As discussed in note 17, on April 6, 2018, the Corporation amended its long-term debt in connection with the Australian Acquisitions and recorded the amendment as an extinguishment for accounting purposes as the debt was repayable at par, and no termination costs were incurred. On July 10, 2018, the Corporation’s previous first lien term loans were repaid in full and the transaction was recorded as an extinguishment for accounting purposes. No termination costs were incurred upon repayment. Recognition and valuation of embedded derivatives The Senior Notes (as defined below) include certain embedded features allowing the Corporation to redeem the Senior Notes or allowing the holders to require a redemption of the Senior Notes. The Corporation applied its judgment in determining whether the features represent embedded derivatives required to be bifurcated from the carrying value of the Senior Notes, including in relation to the assessment of whether the features are closely related to the host contract (i.e., the Indenture (as defined below) governing the Senior Notes). The Corporation considers redemption features with fixed redemption prices over a series of redemption dates as a single feature for assessing whether the feature is closely related to the host contract. The Corporation also considers embedded features with the same underlying risk exposure (i.e., interest rate risk exposure) as a combined derivative instrument for measurement, presentation and disclosure. Certain features were bifurcated from the carrying value of the Senior Notes. Management used estimates, including an implied credit spread of 3.8% as at December 31, 2018, in determining the fair value of the embedded derivatives. See notes 17, 19 and 26. Functional currency The Corporation’s worldwide operations expose the Corporation to transactions denominated in a number of different currencies, which are required to be translated into one currency for consolidated financial statement reporting purposes. The Corporation’s foreign currency translation policy is designed to reflect the economic exposure of the Corporation’s operations to various currencies. The functional currencies of the Corporation’s subsidiaries are assessed on a regular basis as the operations of the Corporation evolve or as result of business combinations or expansions. The functional currency of an operation or subsidiary is the currency of the primary economic environment to which it is exposed. Following the SBG Acquisition and the Australian Acquisitions, management applied judgment in determining the functional currencies of the acquired subsidiaries and considered the impact of the acquisitions on the primary economic environment of the acquiring subsidiaries. To determine the functional currencies, management considered the currency that influences sales prices of the goods and services provided by the operations and the currency that influences the costs incurred by the operations. Where as a result of these primary factors, the functional currency was not obvious, management examined secondary factors such as the currency in which funds from financing are obtained, the currency in which cash receipts are retained and the levels of interactions with the parent company. Contingent liabilities The Corporation reviews outstanding legal cases following developments in legal proceedings at each balance sheet date, considering, among other things: the nature of the litigation, claim or assessment; the legal processes and potential level of damages in the jurisdiction in which the litigation, claim or assessment has been brought; the progress of the case (including progress after the date of the consolidated financial statements but before those statements are issued); the opinions or views of legal counsel and other advisors; experience of similar cases; and any decision of the Corporation’s management as to how it will respond to the litigation, claim or assessment. The Corporation assesses the probability of an outflow of resources to settle the obligation as well as if the outflow can be reliably measured. If these conditions are not met, no provision will be recorded and the relevant facts will be disclosed as a contingent liability. To the extent that the Corporation’s assessments at any time do not reflect subsequent developments or the eventual outcome of any claim, its future consolidated financial statements may be materially affected, with a favourable or adverse impact on the Corporation’s business, financial condition or results of operations. See note 28.
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- Definition The entire disclosure for significant accounting policies applied by the entity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Disclosure of summary of significant accounting policies. No definition available.
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Recent Accounting Pronouncements |
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Dec. 31, 2018 | |
Disclosure Recent Accounting Pronouncements [Abstract] | |
Recent Accounting Pronouncements |
New accounting pronouncements - not yet effective IFRS 16, Leases In 2016, the IASB issued IFRS 16, Leases (“IFRS 16”) replacing IAS 17, Leases (“IAS 17”) and related interpretations. The standard introduces a single lease accounting model for lessees that requires on-balance sheet recognition and measurement. Lessees are required to recognize right-of-use assets representing the right to use the underlying assets and a lease liability representing the obligation to make lease payments. At the commencement date of a lease, a lessee will measure the present value of in substance fixed future lease payments as right-of-use assets and lease liabilities. Lessees will be required to recognize the interest expense related to recognizing the lease liability and the depreciation expense on the right-of-use asset. IFRS 16 substantially carries forward the lessor accounting requirements from IAS 17. IFRS 16 became effective for the Corporation on January 1, 2019 for reporting periods after that date. The Corporation intends to adopt the standard by applying the requirements of the standard retrospectively with the cumulative effects of initial application recorded in opening retained earnings as at January 1, 2019 using a modified retrospective approach with no restatement of the comparative period. The Corporation will make use of the practical expedient available on transition to IFRS 16, that does not require it to reassess whether a past contract is or contains a lease. Accordingly, the definition of a lease in accordance with IAS 17 and related interpretations will continue to apply to the Corporation’s leases entered into or modified before January 1, 2019. The Corporation will also elect to use the exemptions provided by the standard on lease contracts with durations of 12 months or less as of the date of initial application and for leases of underlying assets with low value. Under IFRS 16, right-of-use assets will be tested for impairment in accordance with IAS 36. This will replace the previous requirement to recognize a provision for onerous lease contracts. However, as a transition practical expedient, the Corporation elected to rely on the assessment of whether leases are onerous by applying IAS 37, Provisions, Contingent Liabilities and Contingent Assets immediately before the date of initial application as an alternative to performing an impairment review. In preparation for the first-time adoption of IFRS 16, the Corporation has also carried out an implementation project which has led management to conclude that that the new definition in IFRS 16 will not change significantly the scope of contracts that meet the definition of a lease for the Corporation. On initial application of IFRS 16, for all leases for which the Corporation is a lessee, the Corporation expects to recognize a right-of-use asset in the range of $54.0 million to $58.0 million and a corresponding lease liability in the range of $57.0 million to $61.0 million in the consolidated statements of financial position, initially measured at the present value of the future lease payments. Subsequent to initial application of IFRS 16, there will be a decrease in rent expense and an increase in depreciation and net finance charges. For short-term leases and leases of low-value assets, the Corporation will opt to recognize a lease expense on a straight-line basis as permitted by IFRS 16. For the year ending December 31, 2019, the corporation currently expects an decrease to net (loss) earnings in the form of a reduction to operating rental expenses of between $14.0 million and $16.0 million and an increase in depreciation expenses of between $12.5 million to $14.5 million, each as reported in general and administrative expenses on the consolidated statements of (loss) earnings as well as an increase to interest accretion expense of between $1.5 million to $2.5 million reported in net financing charges on the consolidated statements of (loss) earnings. At the date of finalizing these consolidated financial statements, management are completing their reviews across certain non-material contracts. Some of these contracts may be identified as leases under IFRS 16 and if so, the right of use asset and lease liability may increase accordingly. As the corporation has no finance leases, there will be no impact as a result of the adoption of IFRS 16 with respect to the same. International Financial Reporting Interpretations Committee 23, Uncertainty over Income Tax Treatments (“IFRIC 23”) In June 2017, the IASB published IFRIC 23, effective for annual periods beginning on or after January 1, 2019. The interpretation requires an entity to assess whether it is probable that a tax authority will accept an uncertain tax treatment used, or proposed to be used, by an entity in its income tax filings and to exercise judgment in determining whether each tax treatment should be considered independently or whether some tax treatments should be considered together. The decision should be based on which approach provides better predictions of the resolution of the uncertainty. An entity also has to consider whether it is probable that the relevant authority will accept each tax treatment, or group of tax treatments, assuming that the taxation authority with the right to examine any amounts reported to it will examine those amounts and will have full knowledge of all relevant information when doing so. The Corporation intends to adopt the interpretation by applying the requirements retrospectively with the cumulative effects of initial application recorded in opening retained earnings as at January 1, 2019 using a modified retrospective approach with no restatement of the comparative period. The Corporation believes that the adoption of the interpretation will not have a material impact to the consolidated financial statements. |
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- Definition Disclosure recent accounting pronouncements. No definition available.
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- Definition The entire disclosure recent accounting pronouncements. No definition available.
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Adoption of New Accounting Standards |
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Adoption of New Accounting Standards |
IFRS 9, Financial Instruments
As referenced in note 2 above, the Corporation adopted IFRS 9 on January 1, 2018. As permitted by IFRS 9, the Corporation elected to continue to apply the hedge accounting requirements of IAS 39 rather than the new requirements of IFRS 9 and will comply with the revised annual hedge accounting disclosures as required by the related amendments to IFRS 7. The impact of the Corporation’s transition to IFRS 9 is summarized below.
Classification of financial assets
As of January 1, 2018, management assessed which business models apply to the financial assets held by the Corporation and classified those financial assets into the appropriate IFRS 9 categories as follows:
Impairment of financial assets
The Corporation holds three types of financial assets subject to the new expected credit losses model applicable under IFRS 9 as follows: (i) Trade receivables carried at amortized cost; (ii) Debt instruments carried at FVOCI; and (iii) Other financial assets carried at amortized cost.
The Corporation was required to revise its impairment methodology upon adoption of IFRS 9 for each of these classes of financial assets. The impact of the change in impairment methodology on the opening carrying amounts of these financial assets and the opening balance of retained earnings is disclosed in the measurement of financial instruments table below.
The nature of the Corporation’s business does not generate significant receivables and its investments are considered low risk as it pursues an investment strategy that only permits highly liquid investments with reputable financial institutions.
Financial liabilities – debt modification
The Corporation was required to adjust the carrying amount of its existing long-term debt in respect of historic debt modifications upon adoption of IFRS 9. The adjustment required in respect of each of the historic debt modifications was calculated as the difference between the present value of the original contractual cash flows and the modified cash flows discounted at the original effective interest rate. This differs from the treatment under IAS 39, which required an adjustment to the prevailing effective interest rate on the loan rather than an adjustment to the carrying amount.
The impact of the change in treatment of historic debt modifications on the carrying amount of long-term debt and the opening balance of retained earnings is disclosed in the measurement of financial instruments table below.
Measurement of financial instruments
The table below illustrates the result of adoption of IFRS 9 as of January 1, 2018, and the measurement impact on the respective categories of financial instruments:
The Corporation has not designated any financial assets that meet the criteria for classification at amortized cost or FVOCI as FVTPL on initial recognition. Prior to the application of IFRS 9, the Corporation did not have a material impairment allowance recorded in respect of financial instruments. The adoption of IFRS 9 did not have a material impact on the impairment allowance recorded.
IFRS 15, Revenue from contracts with customers
As referenced in note 2 above, the Corporation adopted IFRS 15, Revenue from contracts with customers on January 1, 2018. The adoption of IFRS 15 did not have a material impact on the timing and amount of revenue recognized by the Corporation.
The Corporation amended the presentation and disclosure of total revenue as a result of the requirement under IFRS 15 to show revenue from contracts with customers separately from other sources of revenue. See note 6. Notwithstanding the presentation and disclosure requirement of IFRS 15 for total revenue, the Corporation presents disaggregated revenue disclosures within the segmental information note including details by segment, major line of operation and geographical region. See note 7. |
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- Definition The description of the nature of changes in accounting estimates that have effects in the current period or are expected to have effects in future periods. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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Acquisition of Subsidiaries |
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Disclosure Of Business Combinations [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition of Subsidiaries |
BetEasy As previously announced on February 27, 2018, a subsidiary of the Corporation acquired a 62% controlling equity interest in BetEasy, which it increased to an 80% controlling equity interest on April 24, 2018 as described below. Pursuant to a shareholders agreement (the “Shareholders Agreement”), the Corporation is entitled to, among other things, appoint a majority of the directors on the board of directors of BetEasy. The Corporation therefore obtained control through acquiring the majority equity interest in combination with such rights. The non-controlling interest in BetEasy is measured at the proportionate share of net assets of the subsidiary. The Corporation believes the Australian Acquisitions provide the Corporation with a strong market position in Australia and creates an opportunity for cost synergies. In connection with the 62% equity interest in BetEasy, the Corporation entered into a put option deed with an exercise price equal to the purchase price of the 62% equity interest in BetEasy, $117.7 million (AUD$150.0 million), plus interest. The put option was set to expire on the earlier of February 28, 2019 or the completion of BetEasy’s purchase of TSGA (the latter occurred on April 24, 2018 as described above). On expiration, the $0.6 million mark to market of this put option previously recognized was derecognized and recorded in general and administrative in the consolidated statements of (loss) earnings. On April 24, 2018, the Corporation acquired a further 18% equity interest in BetEasy for a total consideration of $229.2 million, comprising cash of $48.2 million (AUD$63.2 million), newly issued Common Shares valued at $96.4 million, see note 24, and deferred contingent payment valued at $84.6 million (AUD$111.0 million) at acquisition, which is included in other long-term liabilities on the consolidated statements of financial position. See note 26 for details regarding the valuation of the deferred contingent payment. To finance the cash portion of the purchase price for the transaction, the Corporation obtained incremental financing as part of the April 2018 Amend and Extend. In addition, a shareholder loan was issued to certain non-controlling shareholders of BetEasy. See note 17. The acquisition of the additional equity interest in BetEasy had no impact on the fair values of the goodwill and intangible assets acquired on February 27, 2018; however, the excess of the total consideration compared to the carrying value of the 18% non-controlling interest was recognized directly in equity as acquisition reserve. See note 25. Also on April 24, 2018, in connection with the Corporation’s acquisition of the additional 18% interest in BetEasy, the Corporation entered into a non-controlling interest put-call option in relation to the 20% interest in BetEasy held by its minority interest shareholders, with an exercise price based on certain future operating performance conditions of the acquired business. This was determined to be a non-controlling interest put-call option with a variable settlement amount that can be settled in either cash or shares or a combination of both, and because the put-call option does not clearly grant the Corporation with present access to returns associated with the remaining 20% ownership interest, the Corporation recognized this put-call option as a net liability derivative. As at each of the acquisition date and December 31, 2018, the Corporation determined that the fair value of this non-controlling interest derivative was $nil. The provisional amounts recognized in respect of the identifiable assets acquired and liabilities assumed upon acquisition of BetEasy are set out in the table below:
The fair value of the financial assets includes receivables with a fair value of $4.7 million and a gross contractual value of $7.8 million. The Corporation’s best estimate at the acquisition date of the contractual cash flows not to be collected is $3.1 million. Included in the amounts recognized is a deferred tax liability of $19.4 million, comprised of a $26.1 million deferred tax liability related to acquired intangible assets as well as a deferred tax asset of $6.7 million wholly related to other temporary differences. The main factors leading to the recognition of goodwill as a result of the acquisition are the value inherent in the acquired business that cannot be recognized as a separate asset under IFRS, including future incremental earnings potential resulting from further diversification of the Corporation’s business geographically and the expansion of its online betting product offerings. The goodwill is not deductible for tax purposes. The Corporation has not completed its assessment or valuation of certain assets acquired and liabilities assumed in connection with the acquisition. Therefore, the information disclosed above for identifiable intangible assets, financial assets, financial liabilities and deferred tax liability is completed on a provisional basis and is subject to change based on further review of assumptions and if any new information is obtained about facts and circumstances that existed as of the acquisition date. TSGA On April 24, 2018, BetEasy acquired 100% of TSGA. The provisional amounts recognized in respect of the identifiable assets acquired and liabilities assumed are set out in the table below:
The fair value of the financial assets includes receivables with a fair value of $16.7 million and a gross contractual value of $33.1 million. The Corporation’s best estimate at the acquisition date of the contractual cash flows not to be collected is $16.4 million. Included in the amounts recognized is a deferred tax liability of $76.6 million, comprised of a $79.0 million deferred tax liability related to acquired intangible assets and a $0.4 million deferred tax liability related to other temporary differences as well as a deferred tax asset of $2.8 million wholly related to other temporary differences. The main factors leading to the recognition of goodwill as a result of the acquisition are the value inherent in the acquired business that cannot be recognized as a separate asset under IFRS, including future incremental earnings potential resulting from further diversification of the Corporation’s business geographically and the expansion of its online betting product offerings. The goodwill is not deductible for tax purposes. Acquisition-related costs directly related to the Australian Acquisitions were $11.5 million and were included within general and administrative expenses in the consolidated statements of (loss) earnings. The Corporation has not completed its assessment or valuation of certain assets acquired and liabilities assumed in connection with the acquisition. Therefore, the information disclosed above for identifiable intangible assets, financial assets, financial liabilities and deferred tax liability is completed on a provisional basis and is subject to change based on further review of assumptions and if any new information is obtained about facts and circumstances that existed as of the acquisition date. During the quarter ended September 30, 2018, the Corporation made an adjustment totalling $31.7 million as a reduction to the amounts recognized as non-controlling interest in relation to the acquisition of TSGA with a corresponding reduction to goodwill. During the third quarter, the Corporation substantially completed its migration and integration of TSGA into BetEasy. As a result, revenue and earnings cannot be attributed to the individual acquired entities for the period subsequent to the migration and integration. On a combined basis, BetEasy contributed $196.9 million of revenue and a loss of $16.7 million to the Corporation for the period between the respective dates of acquisition and December 31, 2018. BetEasy revenue has been reported in Betting revenue in the Australia segment. See note 7. SBG As previously announced, on July 10, 2018, the Corporation completed the SBG Acquisition, acquiring 100% of SBG. The Corporation believes that this acquisition improves the Corporation’s revenue diversity across its major lines of operations; increases the Corporation’s presence in locally regulated or taxed markets; develops sports betting as a second customer acquisition channel and creates an opportunity to cross-sell customers across multiple lines of operations; and enhances the Corporation’s products and technology. The provisional amounts recognized in respect of the identifiable assets acquired and liabilities assumed are set out in the table below:
The fair value of the financial assets includes receivables with a fair value of $2.9 million and a gross contractual value of $3.0 million. The Corporation’s best estimate at the acquisition date of the contractual cash flows not to be collected is $0.1 million. Financial liabilities include assumed liabilities for long-term debt and shareholder loans payable of $1.08 billion and $663.4 million, respectively, SBG preferred shares of $10.9 million. Included in derivatives are cross-currency swap and interest rate swap instruments with an aggregate fair value of $(5.0) million. The Corporation redeemed the preferred shares and repaid the long-term debt and shareholder loans payable immediately upon closing of the SBG Acquisition. Subsequently during the quarter, the applicable cross-currency and interest rate swaps were settled for a net cash payment of $1.0 million. Included in the amounts recognized is a deferred tax liability of $514.3 million, comprised of $515.7 million deferred tax liability related to acquired intangible assets and deferred tax assets of $1.0 million related to plant and equipment and $0.4 million related to other temporary differences. As at July 10, 2018, SBG had future financial commitments for marketing, technology and IT contracts of $110.2 million. The main factors leading to the recognition of goodwill as a result of the acquisition are the value inherent in the acquired business that cannot be recognized as a separate asset under IFRS, including future incremental earnings potential resulting from further diversification of the Corporation’s business geographically, expansion of its online betting, primarily sports betting, gaming and other product offerings, the ability to cross-sell across these product offerings, and the ability to achieve cost synergies across the Corporation. The goodwill is not deductible for tax purposes. Acquisition-related costs directly related to the SBG Acquisition were $42.8 million and were included within general and administrative expenses on the consolidated statements of (loss) earnings. SBG contributed $394.1 million of revenue and a loss of $121.9 million to the Corporation for the period between the date of acquisition and December 31, 2018. SBG revenue has been reported as part of the United Kingdom segment across all revenue categories in the segmental reporting. See note 7. The Corporation has not completed its assessment or valuation of certain assets acquired and liabilities assumed in connection with the acquisition. Therefore, the information disclosed above for identifiable intangible assets, financial assets, financial liabilities and deferred tax liability is completed on a provisional basis and is subject to change based on further review of assumptions and if any new information is obtained about facts and circumstances that existed as of the acquisition date. Other During the year ended December 31, 2018, a subsidiary of the Corporation also acquired 100% of the equity interests in two subsidiaries, Publipoker S.R.L. and Keiem Ltd, for a total consideration, net of cash acquired, of $2.6 million, satisfied by cash consideration of $1.0 million and deferred consideration of $1.6 million. The balance outstanding on the deferred consideration as at December 31, 2018 is $0.3 million. If the above noted acquisitions had been completed on the first day of the financial year, the Corporation’s revenue for the year ended December 31, 2018 would have been $2.6 billion and net loss for the year ended December 31, 2018 would have been $188.0 million. The following tables shows acquired intangibles by asset class:
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- References No definition available.
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- Definition The disclosure of acquisition of subsidiaries. No definition available.
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Revenue |
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Dec. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenue [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenue |
Revenue from contracts with customers have not been further disaggregated as the nature of the revenue streams, contract duration and timing of transfer of services are all largely homogenous. For further information regarding revenue, including segment revenue by major line of operations and geographic region. See note 7. As at December 31, 2018, there are no significant contract assets or liabilities and no significant unsatisfied performance obligations. In addition, there are no significant capitalized costs to obtain a contract.
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- Definition The entire disclosure for revenue. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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Segmental Information |
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Disclosure Of Operating Segments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segmental Information |
As a result of its previously announced Australian Acquisitions and SBG Acquisition, the Corporation revised the composition of its reporting segments and the manner in which it has reported its operating results beginning with the unaudited interim condensed consolidated financial statements for the second quarter of 2018. The Corporation believes that the new presentation better reflects its current and expected management and operational structure. Earlier periods have been presented in a manner consistent with the revised segmentation. The segmentation reflects the way the CODM evaluates performance of, and allocates resources within, the business. The CODM considers the Corporation’s business from both a geographic and product offering or lines of operation perspective. Giving effect to the reporting segment changes, for the years ended December 31, 2018 and 2017, the Corporation had three reportable segments: International, United Kingdom and Australia, as well as a Corporate cost center. Revenue within these operating segments is further divided into the Poker, Gaming, Betting and Other lines of operation, as applicable. The CODM receives geographic and lines of operation revenue information throughout the year for the purpose of assessing their respective performance. Certain costs are included in Corporate. “Corporate” in itself is not a reporting segment, but it comprises costs which are not directly allocable to any of the operating segments or relate to a corporate function (tax and treasury). Further, each reporting segment incurs certain costs, which are not segregated among major lines of operations within each reporting segment as they share the same office infrastructure, the same workforce and the same administrative resources. The Corporation cannot develop or produce reports that provide the true costs by major lines of operations within each reporting segment without unreasonable effort or expense. The primary measure used by the CODM for the purpose of decision making and/or evaluation of a segment is Adjusted EBITDA. The Corporation defines Adjusted EBITDA as net earnings before financial expenses, income taxes expense (recovery), depreciation and amortization, stock-based compensation, restructuring, net earnings (loss) on associate and certain other items as set out in the reconciliation table below. However, the CODM also uses other key measures as inputs, including, without limitation, revenue and capital expenditures, to supplement the decision-making process. Segmental net earnings for the year ended December 31, 2018:
Segmental net earnings for the year ended December 31, 2017:
* Adjusted EBITDA is used internally by the CODM when analyzing underlying segment performance.
** The Corporation has excluded from its consolidated results $2.0 million of Other revenue included in the International segment related to certain non-gaming related transactions with the United Kingdom segment. A corresponding exclusion in the consolidated results is recorded to sales and marketing expense in the United Kingdom segment.
A reconciliation of Adjusted EBITDA to Net earnings (loss) is as follows:
The distribution of the Corporation’s assets by reporting segment is as follows:
The distribution of some of the Corporation’s non-current assets (goodwill, intangible assets and property and equipment) by geographic region is as follows:
The Corporation also evaluates revenue performance by geographic region based on the primary jurisdiction where the Corporation is licensed or approved to offer, or offers through third party licenses or approvals, its products and services. The following tables set out the proportion of revenue attributable to each gaming license or approval (as opposed to the jurisdiction where the customer was located) that either generated a minimum of 5% of total consolidated revenue for the year ended December 31, 2018 or 2017, or that the Corporation otherwise deems relevant based on its historical reporting of the same or otherwise:
* The Corporation has excluded from its consolidated results $2.0 million of Isle of Man revenue included in the International segment related to certain non-gaming related transactions with the United Kingdom segment. A corresponding exclusion in the consolidated results is recorded to sales and marketing expense in the United Kingdom segment. |
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- Definition The entire disclosure for operating segments. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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Expenses Classified By Nature |
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Disclosure Of Expenses Classified By Nature [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expenses Classified By Nature |
1 See notes 5 and 26 for details regarding the recognition and measurement of the deferred contingent payment. 2 See notes 17, 19 and 26 for details regarding the recognition and measurement of the Embedded Derivative (as defined below). During the year ended December 31, 2017, the Corporation received $5.8 million in indemnification proceeds from the sellers of Stars Interactive Group for gaming duty, professional fees and taxes owed for periods prior to the Stars Interactive Group Acquisition. The amounts received from the sellers were classified as gaming duty, professional fees and income taxes. In addition, the Corporation received a refund of $2.9 million in taxes and penalties from the Belgian tax authorities, and insurance indemnification proceeds of $2.9 million in respect of Autorité des marchés financiers (AMF) and other investigation professional fees. During the year ended December 31, 2018, the Corporation received an additional $8.0 million in insurance indemnification proceeds in respect of AMF and other investigation professional fees. The amount received from the Belgian tax authorities was classified as income taxes and the insurance indemnification was classified as professional fees. The Corporation participates in defined contribution retirement plans for all qualifying employees, as applicable, across its segments. The assets of the plans are held separate from those of the Corporation in funds under the control of the Corporation’s pension providers. The obligations of the Corporation are limited to make the specified contributions in accordance with the plans. Included within salaries and wages is $9.2 million recorded in respect of these plans. |
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- Definition The disclosure of expenses by nature. [Refer: Expenses, by nature] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Disclosure of expenses classified by nature. No definition available.
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Income Taxes |
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Disclosure Of Income Taxes [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Taxes |
Details of income tax expense were as follows:
The Corporation’s applicable Canadian statutory tax rate is equal to the Federal and Provincial combined tax rate for the period applicable in the jurisdiction within Canada where the Corporation’s head office is registered (i.e., Ontario where the provincial tax rate is 11.5%, and Quebec, where the provincial tax rate is 11.7%) which resulted in a decrease of 0.2% in the statutory tax rate in 2018 compared to the prior year. The Corporations primary operations were previously in the Isle of Man and Malta and subsequent to the Australian Acquisitions and SBG Acquisition, are now also in Australia and the United Kingdom. Income taxes reported differ from the amount computed by applying the Canadian statutory rates to earnings before income taxes primarily due to differences in statutory rates across the countries where the Corporation operates and where the Corporation is incorporated, among other factors. The reconciliation is as follows:
The Corporation’s effective income tax rate for the year ended December 31, 2018, was 0.9% (December 31, 2017 – 9.5%) The income tax recovery for the year ended December 31, 2018 includes $27.3 million (December 31, 2017 – nil) in relation to the income tax recovery on the amortization expense of acquired intangible assets from the Australian Acquisitions and the SBG Acquisition.
The Corporation’s income taxes for the current year ended December 31, 2018 were impacted by the tax recovery on amortization of intangible assets and the geographic diversity of its taxable earnings. The Corporation expects that this will continue in future periods following the Australia Acquisitions and the SBG Acquisition, which have operations primarily in Australia and the United Kingdom, respectively, where statutory corporate income tax rates are higher than the corporate income tax rates in the Isle of Man and Malta, where the Corporation primarily operated from prior to these acquisitions. During the year ended December 31, 2017, the Corporation received notification of a proposed tax assessment from the Canadian tax authorities relating to transfer pricing. The proposed assessment covered periods prior to the Stars Interactive Group Acquisition covering the 2003 to 2007 tax years. For the year ended December 31, 2017 the Corporation recorded a tax provision based on the proposed assessments for both Federal and Provincial tax of $26.5 million including interest. During the year ended December 31, 2018 the Corporation received the Federal and Provincial tax assessments and submitted an objection to the relevant authorities regarding the same. The Corporation intends to vigorously defend its position against the assessments. During the year ended December 31, 2018 the provision was reduced to $24.2 million as a result of adjustments for interest, foreign exchange movements and a pre-payment made in relation to the provincial assessment. Deferred Tax Recognized deferred tax assets and liabilities Significant components of the Corporation’s deferred income tax asset balance at December 31, 2018 and 2017 are as follows:
Significant components of the Corporation’s deferred income tax liability balance at December 31, 2018 and 2017 are as follows:
* Deferred taxes by category above are presented on a gross basis. The statements of financial position present deferred taxes net for amounts included within the same jurisdiction. Unrecognized deferred tax assets Deferred tax assets have not been recognized in respect of the items shown below. The amounts shown are the gross temporary differences and to calculate the potential deferred asset it is necessary to multiply the amounts by the tax rates in each case.
Deferred tax assets have not been recognized in respect of these items because it is not probable that future taxable profits will be available in these jurisdictions against which the Corporation can utilize the benefit from them. Included in tax losses not recognized as at December 31, 2018 are Canadian non-capital tax losses of $129.2 million (December 31, 2017 - $100.2 million) that may be applied against earnings for up to 20 years from the end of the year the losses were generated and the first year of expiry is 2034 for $13.9 million of the carried forward tax losses. Tax losses also include foreign subsidiary non-capital losses of $1.49 billion (December 31, 2017 - $1.19 billion) that may be applied against future years. The majority of these losses of $1.44 billion (December 31, 2017 - $1.17 billion) can be carried forward for up to 9 years from the end of the year the tax losses were generated and the first year of expiry is 2023 for $401.5 million of the carried forward tax losses. As a result of exemptions from taxation (corporate tax and withholding tax) applicable to dividends from subsidiaries, there are no significant taxable temporary differences associated with investments in subsidiaries, branches, associates and interests in joint arrangements and no material deferred tax liability arises on unremitted earnings totaling $1.87 billion (December 31, 2017 - $1.13 billion). |
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- Definition The entire disclosure for income taxes. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Disclosure of income taxes. No definition available.
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Earnings Per Share |
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Earnings Per Share [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Share |
The following table sets forth the computation of basic and diluted earnings per Common Share for the following periods:
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- Definition The entire disclosure for earnings per share. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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Goodwill and Intangible Assets |
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Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill and Intangible Assets |
For the year ended December 31, 2018:
For the year ended December 31, 2017:
Impairment Testing During the year ended December 31, 2018 the Corporation recognized impairment losses (classified in general and administrative expenses) of $4.8 million for deferred development costs and other intangibles, related to discontinued development and other projects within the International and United Kingdom segments and $0.8 million for Goodwill in certain of the Corporation’s subsidiaries within the International segment (December 31, 2017 - $nil). The Corporation performed an annual impairment test for its operations in connection with the preparation of its consolidated financial statements for the year ended December 31, 2018. Goodwill is monitored at the operating segment and this is consistent with the lowest level of CGU except as noted below.
* The United Kingdom segment includes a non-significant CGU which includes the indefinite lived brand as noted in the table above. The Corporation has not identified any impairment in relation to the indefinite lived brand. The recoverable amount of each CGU tested for impairment is determined from value in use calculations which are categorized as Level 3 fair value measures and use discounted cash flow projections. The key assumptions for the value in use calculations are the future cash flow and growth projections (including estimates of future capital expenditures), discount rates, and perpetual growth rates. Management estimates discount rates using post-tax rates that reflect current market assessments of the time value of money and the risks specific to the CGU, including economic risk assumptions and estimates of the likelihood of achieving forecasted cash flow results. The pre tax discount rate is then inferred by recalculation. The Corporation considers a range of reasonably possible amounts to use for key assumptions and applies amounts that represent management’s best estimate of future outcomes. The Corporation prepares cash flow forecasts derived from the most recent financial budgets approved by management for the next five years.
The cash flows are discounted based on the discount rates as presented below. The estimated perpetual growth rates are based on independent country specific market reports for online gaming growth projections. The following table shows key assumptions used in the value in use calculations:
Based on the impairment test performed, the recoverable amount of the CGUs were in excess of their carrying amount and accordingly, there is no impairment of the carrying value of the goodwill (except as noted above in respect of in certain of the Corporation’s subsidiaries). The Corporation believes that a reasonable change to the key assumptions applied to International would not cause its carrying value to exceed its recoverable amounts. With respect to the United Kingdom and Australia, the recoverable amount exceeds the carrying amount by $111 million and $152 million, respectively. The impairment assessment is highly sensitive to reasonably possible changes in a number of key assumptions in the value in use calculation. The following table shows the changes to key assumptions used in the impairment review that would be required for the carrying amount to equal the recoverable amount:
A combination of reasonably possible changes in assumptions as set out in the table above could result in impairment in either or both of the United Kingdom and Australia. |
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- Definition The disclosure of intangible assets and goodwill. [Refer: Intangible assets and goodwill] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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Property and Equipment |
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Dec. 31, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure Of Property Plant And Equipment [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property and Equipment |
For the year ended December 31, 2018:
For the year ended December 31, 2017:
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition The entire disclosure for property, plant and equipment. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Investments |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure Of Investments [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investments |
The Corporation held the following investments:
Investments relate primarily to customer deposits held in accounts segregated from investments held for operational purposes. Investments held in relation to customer deposits are liquid investments and are classified as current assets consistent with the current classification of customer deposits to which the investments relate. Management’s investment strategy for the portfolio results in many of the bonds being held to maturity. As of December 31, 2018, Customer deposits were covered by $103.2 million in investments and $328.2 million in cash. There were no impairments recognized on investments during the year ended December 31, 2018 (December 31, 2017: $nil). See note 29 for details on credit risk. During the year ended December 31, 2017, the Corporation completed the disposition of all its securities of NYX Gaming Group Limited (“NYX Gaming Group”) for net cash proceeds of $27.9 million resulting in a gain of $14.0 million. During the year ended December 31, 2017, the Corporation also completed the sale of its ordinary shares in Jackpotjoy plc (LSE: JPJ) for net cash proceeds of $59.8 million resulting in a gain of $15.0 million. These gains were recorded within loss (gain) on disposal of investments and other assets included in general and administrative expenses The Corporation’s investments held by maturity date are as follows:
For the year ended December 31, 2018, the Corporation recognized gains (losses) from investments as follows:
Investment income from bonds includes interest income and premium and discount amortization. There was neither investment income nor gains or losses in the year ended December 31, 2018 for available for sale funds or equity in quoted companies. Subsidiaries As at December 31, 2018, the Corporation had the following significant subsidiaries:
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X | ||||||||||
- Definition Disclosure of investments. No definition available.
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X | ||||||||||
- Definition Disclosure of investments. No definition available.
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Accounts Receivable |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trade And Other Current Receivables [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accounts Receivable |
The Corporation’s accounts receivable balances at December 31, 2018 and December 31, 2017 consist of the following;
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X | ||||||||||
- Definition The disclosure of trade and other receivables. [Refer: Trade and other receivables] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- References No definition available.
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Cash and Cash Equivalents, Restricted Cash Advances and Collateral |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted Cash Advances And Collateral [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Cash and Cash Equivalents, Restricted Cash Advances and Collateral |
Cash and cash equivalents Cash and cash equivalents – operational includes an amount of $40.1 million (2017 - $24.7 million) held by a subsidiary of the Corporation that is subject to exchange controls in the country of operation. This balance is not available for general use by the Corporation or any of its other subsidiaries. Restricted cash advances and collateral Restricted cash held by the Corporation consists of the following components:
* As at December 31, 2018, $5 million of restricted cash was collateralized as part of the Kentucky Bond Collateral (as defined in note 28 below). The Kentucky Bond Collateral will be held until a court order is issued authorizing the release of the bonds.
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X | ||||||||||
- Definition The entire disclosure of cash and cash equivalents, restricted cash advances and collateral. No definition available.
|
X | ||||||||||
- Definition Restricted cash advances and collateral. No definition available.
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Prepaid Expenses and Other Assets |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Prepaid Expenses And Other Assets [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Prepaid Expenses and Other Assets |
Prepaid royalties include prepaid revenue share paid to business partners. Prepaid expenses are included within selling and general and administrative expenses when recognized as an expense. Deferred financing costs relate to capitalized transaction costs in respect of the Revolving Credit Facility.
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X | ||||||||||
- Definition The disclosure of prepayments and other assets. [Refer: Other assets; Prepayments] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition Prepaid expenses and other assets. No definition available.
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Long-Term Debt |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure Of Long Term Debt [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-Term Debt |
The following is a summary of long-term debt outstanding at December 31, 2018, and 2017 (all capitalized terms used in the table below relating to such long-term debt are defined below in this note):
During the year ended December 31, 2018, the Corporation incurred the following interest on its then-outstanding long-term debt excluding its loan payable to non-controlling interests which is non-interest bearing:
During the year ended December 31, 2017, the Corporation incurred the following interest on its then-outstanding long-term debt:
* The effective interest rate calculation excludes the impact of the debt extinguishments in respect of the April 2018 Amend and Extend and the repayment of the previous first lien term loans as well as the impact of the Swap Agreements. ** Interest accretion for the year ended December 31, 2018 includes a loss on debt extinguishment of $147.0 million included within net financing charges in respect of the amendment and extension and subsequent repayment of the Corporation’s prior first lien term loans.
The Corporation’s debt balance for the year ended December 31, 2018 was as follows:
The Corporation’s debt balance for the year ended December 31, 2017 was as follows:
* Adjustments to amortized cost includes transaction costs incurred on the issuance or incurrence of each of the financial instruments and, with respect to the Senior Notes (as defined below), the bifurcation of embedded features in 2018 as described below and debt forgiveness in relation to the loan payable to non-controlling interests. In addition, unamortized deferred financing costs of $6.8 million were reclassified to prepaid expenses and other non-current assets on the consolidated statements of financial position following the repayment of $100.0 million previously drawn on the Revolving Facility. ** Interest accretion represents interest expense calculated at the effective interest rate less interest expense calculated at the contractual interest rate and is recorded in net financing charges in the consolidated statements of (loss) earnings.
As at December 31, 2018, the contractual principal repayments of the Corporation’s outstanding long-term debt over the next five years amount to the following:
As previously disclosed, on July 10, 2018, the Corporation completed the SBG Acquisition. To finance the cash portion of the purchase price, repay the Corporation’s previous first lien term loans and repay SBG’s existing long-term debt, which was assumed by the Corporation as part of the acquisition, the Corporation used existing cash resources and raised $4.567 billion in First Lien Term Loans, $1.00 billion in Senior Notes (each as defined below) and $621.8 million of net proceeds (before expenses), excluding the overallotment, from the issuance of additional Common Shares as a result of the Equity Offering (as defined below). The Corporation also obtained a new Revolving Facility (as defined below) of $700.0 million, of which it had drawn $100 million as of completion of the acquisition (collectively with the foregoing, the “SBG Financing”). The debt portion of the SBG Financing is described below. For further details on the Equity Offering portion of the SBG Financing, see note 24. Revolving Facility On July 10, 2018, as part of the SBG Financing, the Corporation replaced its previous revolving facility with a new first lien revolving facility of $700 million (the “Revolving Facility”). Maturing on July 10, 2023, the Revolving Facility includes a margin of 3.25% for borrowings which is subject to leverage-based step-downs. The commitment fee on the Revolving Facility varies from 0.250% to 0.375% based on first lien leverage. Borrowings under the Revolving Facility are subject to the satisfaction of customary conditions, including the absence of a default and compliance with certain representations and warranties. The Revolving Facility requires, subject to a testing threshold, that the Corporation comply on a quarterly basis with a maximum net first lien senior secured leverage ratio of 6.75 to 1.00. The Revolving Facility can be used for working capital needs and for general corporate purposes. As at December 31, 2018 and December 31, 2017 there were no amounts outstanding under the Revolving Facility and the Corporation’s previous revolving facility, respectively. The Corporation had $74.2 million of letters of credit issued but undrawn as of December 31, 2018. Availability under the Revolving Facility as of December 31, 2018 was $625.8 million. First Lien Term Loans On July 10, 2018, as part of the SBG Financing, the Corporation repaid its previous first lien term loans and issued new First Lien Term Loans of $3.575 billion priced at LIBOR plus 3.50% (the “USD First Lien Term Loan”) and new EUR first lien term loans of €850 million priced at EURIBOR plus 3.75% (the “EUR First Lien Term Loan” and, together with the USD First Lien Term Loan, the “First Lien Term Loans”), each with a maturity date of July 10, 2025 and a LIBOR and EURIBOR floor, as applicable, of 0%. Starting on the last day of the first fiscal quarter ending after July 10, 2018, the USD First Lien Term Loan requires scheduled quarterly principal payments in amounts equal to 0.25% of the aggregate principal amount of the USD First Lien Term Loan, with the balance due at maturity. There is no amortization on the EUR First Lien Term Loan and the principal is due at maturity. The Corporation, its lenders, Deutsche Bank AG New York Branch, as administrative agent, and certain other parties also entered into a new credit agreement (the “Credit Agreement”) for the First Lien Term Loans and the Revolving Facility to, among other things, reflect the foregoing transactions and add certain operational and financial flexibility, particularly as it relates to the Corporation on a combined basis following the SBG Acquisition. The Credit Agreement limits Stars Group Holdings B.V. and its subsidiaries’ ability to, among other things, (i) incur additional debt, (ii) grant additional liens on their assets and equity, (iii) distribute equity interests and/or distribute any assets to third parties, (iv) make certain loans or investments (including acquisitions), (v) consolidate, merge, sell or otherwise dispose of all or substantially all assets, (vi) pay dividends on or make distributions in respect of capital stock or make restricted payments, (vii) enter into certain transactions with affiliates, (viii) change lines of business, and (ix) modify the terms of certain debt or organizational documents, in each case subject to certain exceptions. The Credit Agreement also provides for customary mandatory prepayments, including a customary excess cash flow sweep if certain conditions are met. Senior Notes Also in connection with the SBG Financing, two of the Corporation’s subsidiaries, Stars Group Holdings B.V. and Stars Group (US) Co-Borrower, LLC (the “Issuers”), issued 7.00% Senior Notes due 2026 (the “Senior Notes”) on July 10, 2018 at par in an aggregate principal amount of $1.00 billion. The Senior Notes mature on July 15, 2026. Interest on the Senior Notes is payable semi-annually on January 15 and July 15 of each year, commencing on January 15, 2019. The Senior Notes are guaranteed by each of the Issuers’ restricted subsidiaries that guarantees the Revolving Facility. The Senior Notes are the Issuers’ senior unsecured obligations and rank equally in right of payment with all of the Issuers’ existing and future senior unsecured indebtedness. The Senior Notes include the following features which were collectively identified as the Embedded Derivative (as defined below) that required bifurcation from the carrying value of the Senior Notes.
The fair value of the Embedded Derivative at issuance of the Senior Notes and at December 31, 2018 was $17.7 million and $11.6 million, respectively. See notes 19 and 26. The Senior Notes include, among other terms and conditions, limitations on the Issuers’ ability to create, incur or allow certain liens; create, assume, incur or guarantee additional indebtedness of certain of the Issuers’ subsidiaries; and consolidate or merge with, or convey, transfer or lease all or substantially all of the Issuers’ and their subsidiaries’ assets, to another person.
In connection with the acquisition of a 62% equity interest in BetEasy, the Corporation acquired financial liabilities of $59.2 million, which included a loan of $15.5 million (AUD$19.7 million) from the minority shareholders of BetEasy. During the year ended December 31, 2018 a subsidiary of the Corporation repaid $6.2 million (AUD$8.2 million) of such loan and entered into an agreement with such minority shareholders to forgive and discharge $8.6 million (AUD$11.5 million) of the outstanding loan balance. As previously reported, on March 6, 2018, a subsidiary of the Corporation entered into agreement with the holders of the non-controlling interest in BetEasy to increase its equity interest from 62% to 80% and for BetEasy to acquire TSGA. According to the agreement, the non-controlling interest of BetEasy made a loan of $35.1 million (AUD$47.4 million) and equity contribution of $12.1 million (AUD$15.8 million). During the year ended December 31, 2018, the non-controlling interest provided an additional shareholder loan of $1.8 million (AUD$2.5 million). As at December 31, 2018, the outstanding loan balance was $36.1 million (AUD$49.9 million). The loan is non-interest bearing and repayable on the earlier of 9 years and 364 days from the date of advance and the date of completion of the 20% put-call option. See note 19.
On April 6, 2018, the Corporation successfully increased, repriced and extended its previous first lien term loans and previous revolving facility and repaid its USD second lien term loan. The transaction was recorded as an extinguishment for accounting purposes. No termination costs were incurred. Subsequently, in connection with the SBG Acquisition and SBG Financing, on July 10, 2018, the Corporation repaid its previous first lien term loans, repaid the existing long-term indebtedness of SBG, entered into the new Credit Agreement with respect to First Lien Term Loans and Revolving Facility, and issued the Senior Notes. The transaction was recorded as an extinguishment for accounting purposes. No termination costs were incurred upon repayment. |
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- Definition The disclosure of loans and advances to banks. [Refer: Loans and advances to banks] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Disclosure of long term debt. No definition available.
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Capital Management |
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Dec. 31, 2018 | |
Capital Management [Abstract] | |
Capital Management |
The Corporation’s objective in managing capital is to ensure it has sufficient liquidity to manage its business and growth objectives while maximizing return to shareholders through the optimization of the use of debt and equity. Liquidity is necessary to meet the Corporation’s existing general capital needs, fund the Corporation’s growth and expansion plans, and undertake certain capital markets activities, including the repayment of debt. The Corporation has historically met its liquidity needs through cash flow generated from operations and capital markets activities, including the incurrence and issuance of debt and issuance of capital stock. The Corporation’s current objective is to meet all of its current liquidity and existing general capital requirements from the cash flow generated from operations. The capital structure of the Corporation and its subsidiaries consists of long-term debt, which is offset by cash balances, and total equity attributable to shareholders. The Corporation’s capital management objectives are to optimize its capital structure and cost of capital. The Corporation intends to deleverage by focusing on improving profitability and repaying of debt. For additional information regarding the Corporation’s liquidity risks, see note 29. |
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- Definition Capital management. No definition available.
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- Definition The entire disclosure for capital management. No definition available.
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Derivative and Hedge Accounting |
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Disclosure Of Derivatives [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative and Hedge Accounting |
19.DERIVATIVES AND HEDGE ACCOUNTING The Corporation is exposed to interest rate and currency risk, refer to note 29. The Corporation uses derivative financial instruments for risk management purposes and anticipates that such instruments will mitigate interest rate and currency risk, as applicable. As such, any change in cash flows associated with derivative instruments is expected to be offset by changes in cash flows related to the hedged position. Upon completion of the SBG Acquisition, the Corporation made a net cash payment of $1.0 million to unwind and settle certain previously existing cross-currency swap agreements and interest rate swap agreements related to the hedging of SBG’s previously outstanding long-term debt that were no longer required following the repayment of the same. Subsequent to the SBG Financing, and as part of managing the Corporation’s exposure to foreign exchange risk and interest rate risk, the Corporation entered into cross-currency interest rate swap agreements and interest rate swap agreements (collectively, the “Swap Agreements”), each as discussed below. At the time of entering into the Swap Agreements, the Corporation made a cash payment of $61.1 million to unwind and settle its previously existing swap agreements (the “Previous Swap Agreements)” as discussed below. Derivatives Swap Agreements During the year ended December 31, 2018, a subsidiary of the Corporation entered into USD-EUR cross-currency interest rate swap agreements (the “EUR Cross-Currency Interest Rate Swaps”) with a notional amount of €1.99 billion ($2.33 billion), which fix the USD to EUR exchange rate at 1.167 and fix the Euro interest payments at an average interest rate of 3.6%, as well as EUR-GBP cross-currency interest rate swap agreements (the “GBP Cross-Currency Interest Rate Swaps”) with a notional amount of £1.00 billion (€1.12 billion), which fix the EUR to GBP exchange rate at 0.889 and fix the GBP interest payments at an average interest rate of 5.4%. The cross-currency interest rate swaps have a profile that amortizes in line with the USD First Lien Term Loan and each are set to mature in July 2023. The Corporation also entered into an amortizing USD interest rate swap agreement (the “Interest Rate Swap”) with a notional amount of $700 million, which is set to mature in July 2023, and swaps USD three-month LIBOR to a fixed interest rate of 2.82%. Previous Swap Agreements The Previous Swap Agreements hedged the interest rate and foreign exchange risk on the Corporation’s previous first lien term loans. Therefore, in connection with the repayment of the previous first lien term Loans, the Corporation unwound and settled the remaining USD notional principal of $1.39 billion related to the Previous Swap Agreements for a cash payment of $61.1 million. Embedded Derivative See note 17 for a discussion of the features embedded in the Senior Notes that the Corporation bifurcated as it determined that the features were derivatives to be classified and recorded at fair value through profit or loss. The fair value of the Embedded Derivative at issuance of the Senior Notes and at December 31, 2018 was $17.7 million and $11.6 million, respectively. The fair value of the Embedded Derivative was determined using an interest rate option pricing valuation model. The key assumptions include the implied credit spread of 3.8% at issuance and 4.6% at December 31, 2018. The Embedded Derivative is categorized as a Level 3 within the fair value hierarchy. The Corporation did not account for the Embedded Derivative as a qualifying hedge. Unsettled bets Unsettled bets represent bets that are staked but the event to which the bet relates have not yet concluded. See note 2 for further details regarding Betting revenue. The principal assumption used in the fair value determination of unsettled bets is the anticipated gross win margin on the outcome of the events to which the bets relate. The Embedded Derivative is categorized as a Level 3 within the fair value hierarchy. Put and call options on 20% non-controlling interest in BetEasy On April 24, 2018, in connection with the Corporation’s acquisition of the additional 18% interest in BetEasy, the Corporation entered into a non-controlling interest put-call option in relation to the 20% interest in BetEasy held by its minority interest shareholders, with an exercise price based on certain future operating performance conditions of the acquired business. This was determined to be a non-controlling interest put-call option with a variable settlement amount that can be settled in either cash or shares or a combination of both, and because the put-call option does not clearly grant the Corporation with present access to returns associated with the remaining 20% ownership interest, the Corporation recognized this put-call option as a net liability derivative. As at each of the acquisition date and December 31, 2018, the Corporation determined that the fair value of this non-controlling interest derivative was $nil as the fundamentals of the underlying business operations remain consistent with the acquisition date. Deal contingent forwards In connection with the SBG Acquisition and the Australian Acquisitions, to economically hedge its risk of foreign exchange fluctuations leading up to the acquisitions, the Corporation entered into deal contingent forward contracts. At the time of completion of the acquisitions, the Corporation settled the deal contingent forwards and recognized an aggregate realized loss of $61.5 million included in foreign exchange within the general and administrative category in the consolidated statements of (loss) earnings. The Corporation did not account for the deal contingent forward contracts as qualifying hedges under IAS 39. The following table summarizes the fair value of derivatives as at December 31, 2018 and 2017:
* The unsettled bets liability is recorded in accounts payable and other liabilities on the consolidated statement of financial position as at December 31, 2017 and is recorded in derivatives on the consolidated statement of financial position as at December 31, 2018.
Hedge Accounting The Corporation’s exposure to market risks including interest rate risk (such as benchmark interest rates) and foreign exchange risk and its approach to managing those risks is discussed in note 29. Cash flow hedge accounting In accordance with the Corporation’s current risk management strategy, the Corporation entered into the Swap Agreements to mitigate the risk of fluctuation of coupon and principal cash flows due to changes in foreign currency rates and interest rates related to the USD First Term Lien Loan. The Corporation assesses hedge effectiveness by comparing the changes in fair value of a hypothetical derivative reflecting the terms of the debt instrument issued due to movements in the applicable foreign currency exchange rate and benchmark interest rate with the changes in fair value of the cross-currency interest rate swaps and interest rate swaps used to hedge the exposure, as applicable. The Corporation uses the hypothetical derivative method to determine the changes in fair value of the hedged item. The Corporation has identified the following possible sources of ineffectiveness in its cash flow hedge relationships:
The EUR Cross-Currency Interest Rate Swaps and the Interest Rate Swap were designated in cash flow hedge relationships to hedge the foreign exchange risk and/or interest rate risk on the USD First Lien Term Loan bearing a minimum floating interest rate of 3.5% (USD three-month LIBOR plus a 3.5% margin, with a LIBOR floor of 0%). As at December 31, 2018, $11.6 million of accumulated other comprehensive loss is included in the cash flow hedging reserve (see note 25) related to de-designated cash flow hedges and is reclassified to the statements of (loss) earnings as the hedged cash flows impact (loss) earnings. Net investment hedge accounting In accordance with the Corporation’s current risk management strategy, the Corporation designates certain cross currency interest rate swap contracts and the carrying amount of certain debt instruments in net investment hedging relationships to mitigate the risk of changes in foreign currency rates with respect to the translation of assets and liabilities of subsidiaries with foreign functional currencies. Upon entering into the GBP Cross-Currency Interest Rate Swaps, the Corporation designated these instruments as a hedge of the forward foreign exchange risk of its net investment in its GBP foreign operations. The Corporation assesses hedge effectiveness by comparing the changes in fair value of the net assets designated, due to movements in the foreign currency rate with the changes in fair value of the hedging instruments used to hedge the exposure. The Corporation uses the hypothetical derivative method to determine the changes in fair value of the hedged item. The only source of ineffectiveness is the effect of the counterparty and the Corporation’s own credit risk on the fair value of the derivative, which is not reflected in the fair value of the hypothetical derivative. Upon completion of the SBG Financing, the Corporation designated the carrying amount of the USD First Lien Term Loan (excluding the carrying amount subject to the Swap Agreements) and the carrying amount of the Senior Notes as a hedge of the spot foreign exchange risk of its net investment in its USD functional subsidiaries. The Corporation assesses hedge effectiveness by comparing the currency and the carrying amount of the USD First Lien Term Loan with the currency and the net assets of its USD functional subsidiaries. As at December 31, 2018, $60.6 million of accumulated other comprehensive income is included in the cumulative translation reserve (see note 25) related to de-designated net investment hedges and is reclassified to the statements of (loss) earnings upon disposition of the net investment in the applicable foreign subsidiaries. Effects of hedge accounting The following tables presents the effects of cash flow hedges and net investment hedges on the Corporation’s financial position and performance.
* Hedge ineffectiveness is recorded within net financing charges on the consolidated statements of (loss) earnings. ** For cash flow hedges that address interest rate risk and/or foreign currency exchange risk, the amount reclassified from accumulated other comprehensive income (loss) to earnings is recorded within interest expense included in net financing charges or foreign exchange (gain) loss included in general and administrative expenses on the consolidated statements of (loss) earnings. Reconciliation of accumulated other comprehensive income (loss):
* Net changes in other comprehensive income (loss) is recorded through the cash flow hedging reserve. See note 25. ** Net changes in other comprehensive income (loss) is recorded through the cumulative translation reserve. See note 25.
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- Definition Disclosure of derivatives. No definition available.
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- Definition The entire disclosure of derivatives. No definition available.
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Commitments |
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Disclosure Of Operating Lease [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commitments |
The Corporation as lessee and other contractual commitments At December 31, 2018, the Corporation’s future minimum lease payments under non-cancellable operating leases and other obligations aggregate to $346.4 million and are payable as follows:
The Corporation as lessor
At December 31, 2018, the Corporation’s future minimum lease receipts under non-cancellable operating leases aggregate to $14.8 million and are receivable as follows;
Other commitments
The Corporation had $74.2 million of letters of credit issued but undrawn as of December 31, 2018. See note 17.
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- Definition The disclosure of commitments. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Disclosure of operating lease. No definition available.
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Accounts Payable And Other Liabilities |
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Disclosure Of Other Payables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accounts Payable And Other Liabilities |
The Corporation’s accounts payable and other liabilities comprise the following:
VAT Payable A significant portion of the VAT payable relates to amounts owing for VAT for prior periods as a result of engagement with the Swiss tax authority on the application of the law. This is due to be settled by the end of first quarter of 2019. |
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- Definition The disclosure of other liabilities. [Refer: Other liabilities] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Disclosure of other payables. No definition available.
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Provisions |
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Disclosure Of Other Provisions [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Provisions |
The carrying amounts and the movements in the provisions during the year ended December 31, 2018 and 2017 are as follows:
Provision for jackpots The Corporation offers progressive jackpot games. Each time a progressive jackpot game is played, a portion of the amount wagered by the player is contributed to the jackpot for that specific game or group of games. Once a jackpot is won, the progressive jackpot is reset with a predetermined base amount. The Corporation maintains a provision for the reset of each jackpot and the progressive element added as the jackpot game is played. The Corporation believes that its provisions are sufficient to cover the full amount of any required payout. Deferred payment The acquisition-date fair value of any deferred payment is recognized as part of the consideration transferred by the Corporation in exchange for the acquiree. The Corporation estimates, based on expected future cash flows, the amount that would be required to settle the applicable obligation and recognizes the present value of the same. The provision for the then-outstanding deferred payment primarily related to the Stars Interactive Group Acquisition. The Corporation paid the remaining balance in full during the year ended December 31, 2017. The remaining deferred payment provision at December 31, 2018 relates to the previously disclosed acquisition of Diamond Game and is contingent on future events. Restructuring provision The Corporation recorded restructuring provisions during the year ended December 31, 2018 following the Australian Acquisitions and the SBG Acquisition in response to certain reorganizations as the Corporation focuses on enacting synergies. The provision primarily consists of personnel and facilities related costs and the Corporation believes that its provisions are sufficient to cover the full amount of any required payout. Other The other provisions consist of a minimum revenue guarantee, provisions for lease retirement costs, and other provisions for onerous contracts. |
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- References No definition available.
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- Definition The disclosure of provisions. [Refer: Provisions] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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Customer Deposits |
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Deposits From Customers [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Customer Deposits |
The Corporation holds customer deposits, along with winnings and any bonuses in trust accounts from which money may not be removed if it would result in a shortfall of such deposits. These deposits are included in current assets in the consolidated statements of financial position under Cash - customer deposits and Current investments – customer deposits and includes cash and short term, highly liquid investments. Customer deposits are segregated as follows:
Customer deposit liabilities relate to customer deposits which are held in multiple bank and investment accounts that are segregated from those holding operational funds.
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- References No definition available.
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- Definition The disclosure of deposits from customers. [Refer: Deposits from customers] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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Share Capital |
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Disclosure Of Classes Of Share Capital [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares Capital |
The authorized share capital of the Corporation consists of an unlimited number of Common Shares, with no par value, and an unlimited number of convertible preferred shares (“Preferred Shares”), with no par value, issuable in series. As at December 31, 2018, 273,177,244 shares were issued and fully paid (December 31, 2017 - 147,947,874).
Equity Offering On June 26, 2018, the Corporation closed an underwritten public offering of Common Shares (the “Equity Offering”) at a price of $38.00 per Common Share. The Corporation sold a total of 17,000,000 Common Shares and certain selling shareholders of the Corporation sold 8,000,000 Common Shares. The net proceeds to the Corporation (excluding the over-allotment proceeds), after underwriting discounts and commissions, but before expenses of the Equity Offering payable by the Corporation, were $621.8 million. The Equity Offering also included an over-allotment option granted to the underwriters to purchase an additional 1,875,000 Common Shares from the Corporation and 1,875,000 Common Shares from the selling shareholders at a price of $38.00 per Common Share. The underwriters exercised this over-allotment option in full on July 20, 2018, which closed on July 24, 2018 and resulted in additional net proceeds to the Corporation after underwriting discounts and commissions, but before expenses of the over-allotment option payable by the Corporation, of $68.6 million. Preferred Share Conversion On June 5, 2018, the Corporation announced that it elected to effect the conversion of all Preferred Shares pursuant to their terms (the “Preferred Share Conversion”) as a result of meeting the applicable price and liquidity conditions with respect to the same. As a result, on July 18, 2018, all of the Corporation’s outstanding Preferred Shares were converted into Common Shares at a rate of 52.7085 Common Shares per Preferred Share, resulting in the cancellation of all of the Preferred Shares and the issuance of 51,999,623 million Common Shares to the holders thereof. All the Preferred Shares were cancelled and all rights associated therewith were terminated. Prior to completion of the Preferred Share Conversion, Polar Multi-Strategy Master Fund (and certain affiliated funds) and Verition Canada Master Fund Ltd. applied to the Ontario Superior Court of Justice for a declaration that the mandatory conversion would contravene the Corporation’s articles of continuance. On July 17, 2018 the Superior Court ruled in favor of the Corporation and dismissed the application. As a result, the Corporation proceeded with the conversion as indicated above. The applicants subsequently appealed the Superior Court decision and in the appeal are seeking, among other things, rescission of the conversion or potential damages. In addition to the Common Shares issued in connection with the Equity Offering and Preferred Share Conversion as described above, during the year ended December 31, 2018:
During the year ended December 31, 2017:
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- References No definition available.
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- Definition The disclosure of issued capital. [Refer: Issued capital] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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Reserves |
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Disclosure Of Reserves Within Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reserves |
The following table highlights the classes of reserves included in the Corporation’s equity:
* During the year ended December 31, 2017, the principal reclassification made by the Corporation was $9.2 million from the Cumulative translation adjustments reserve to the “Available-for-sale investments” reserve to correct an error in a previous period. ** Upon adoption of IFRS 9, the Corporation reclassified amounts in the available for sale investments reserve to the financial assets at FVOCI reserve. The Corporation identified $5.4 million of other reserves not directly related to available for sale investments and reclassified this balance the other reserve. Acquisition reserve On February 27, 2018, a subsidiary of the Corporation completed its acquisition of a 62% interest in BetEasy. On April 24, 2018, a subsidiary of the Corporation acquired an additional 18% interest in BetEasy and on the same date, BetEasy completed its acquisition of 100% of TSGA. The carrying amounts of the controlling and non-controlling interest were adjusted to reflect the changes in the Corporation’s equity interest in BetEasy. The change in carrying amounts were recognized directly in equity in acquisition reserve and any difference between the amount by which the non-controlling interest was adjusted and the fair value of the consideration paid was attributed to the Corporation. Cumulative translation adjustments Exchange differences relating to the translation of the net assets of the Corporation’s foreign operations from their functional currency into the Corporation’s presentational currency are recognized directly in the Cumulative translation adjustment reserve. This reserve also recognizes the realized and unrealized gains and losses in derivative instruments designated as net investment hedges. See note 19. Cash flow hedging reserve This reserve recognizes realized and unrealized gains and losses in derivative instruments designated as cash flow hedges. See note 19. Stock Options The following table provides information about outstanding stock options issued under the Plans:
No stock options were granted during the year ended December 31, 2018 (December 31, 2017 - the Corporation granted an aggregate of 202,000 stock options under the Plans). The outstanding stock options issued under the Plans are exercisable at prices ranging from CDN$2.85 to CDN$35.30 per share and have a weighted average contractual term of 3.17 years.
The weighted average exercise price of options exercised during the year ended December 31, 2018 was CDN$23.23 (December 31, 2017 – CDN$7.47). A summary of exercisable options per stock option grant under the Plans is as follows:
The Corporation recorded a compensation expense for the year ended December 31, 2018 of $12.8 million (December 31, 2017 – $10.6 million). As at December 31, 2018, the Corporation had $0.7 million of unrecognized compensation expense related to the issuance of stock options to be recorded in future periods. The stock options issued during the year ended December 31, 2017 were accounted for at their grant date fair value of $579,000 as determined by the Black-Scholes-Merton valuation model using the following weighted-average assumptions:
The expected life of the options was estimated using the average of the vesting period and the contractual life of the options. The expected volatility was estimated based on the Corporation’s public trading history on the TSX for the 4.75 years preceding the grant. The expected forfeiture rate was estimated based on a combination of historical forfeiture rates and expected turnover rates. RSUs The following table provides information about outstanding RSUs issued by the Corporation under the 2015 Equity Incentive Plan.
PSUs The following table provides information about outstanding PSUs issued by the Corporation under the 2015 Equity Incentive Plan. In addition to the issued and outstanding PSUs, the Corporation will issue additional PSUs of up to 50% upon the achievement of market vesting conditions.
DSUs The following table provides information about outstanding DSUs issued by the Corporation under the 2015 Equity Incentive Plan.
Dividend Equivalents During the years ended December 31, 2018 and 2017, no dividends were declared. Warrants The following table provides information about outstanding warrants at December 31, 2018 and 2017:
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- Definition The disclosure of reserves within equity. [Refer: Other reserves [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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Fair Value |
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Disclosure Of Fair Value Measurement Of Assets And Liabilities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value |
The Corporation determined that the carrying values of its short-term financial assets and liabilities approximate their fair value because of the relatively short periods to maturity of these instruments and low risk of credit. Certain of the Corporation’s financial assets and liabilities are measured at fair value at the end of each reporting period. The following table provides information about how the fair values of these financial assets and liabilities are determined as at each of December 31, 2018 and December 31, 2017:
Refer to note 29 for details on credit risk for the above financial assets. The fair values of other financial assets and liabilities measured at amortized cost on the consolidated statements of financial position as at each of December 31, 2018, and December 31, 2017 are as follows:
Transfers between levels of the fair value hierarchy are recognized by the Corporation at the end of the reporting period during which the transfer occurred as part of its periodic review of fair values. There were no transfers between levels of the fair value hierarchy during the year ended December 31, 2018. During the year end December 31, 2017, the Corporation reassessed the fair value hierarchy of its long-term debt and reclassified it from Level 1 to Level 2 fair value hierarchy. In addition, the Corporation reassessed the fair value hierarchy in respect of its previously held preferred shares of a subsidiary of NYX Gaming Group and reclassified it transferred it from Level 3 to Level 2. Following this transfer, the Corporation sold all of its securities of NYX Gaming Group. Valuation of Level 2 fair values Long-Term Debt The Corporation estimates the fair value of its long-term debt by using a composite price derived from observable market data for a basket of similar instruments. Derivative Financial Instruments Currently, the Corporation uses cross currency swap and interest rate swap agreements to manage its interest rate and foreign currency risk and foreign currency forward and option contracts to manage foreign currency risk. The valuation of these instruments is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves, as well as spot and forward rates. To comply with the provisions of IFRS 13, Fair value measurement, the Corporation incorporates credit valuation adjustments to appropriately reflect both its own non-performance risk and the respective counterparty’s non-performance risk in the fair value measurements. In adjusting the fair value of its derivative contracts for the effect of non-performance risk, the Corporation has considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts, and guarantees. Although the Corporation has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by itself and its counterparties. However, as of December 31, 2018 and December 31, 2017, the Corporation has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions, with the exception of the Embedded Derivative which is classified as Level 3, and determined that the credit valuation adjustments are not significant to the overall valuation of its derivatives. As a result, the Corporation determined that its valuations of the Swap Agreements and Previous Swap Agreements in their entirety are classified in Level 2 of the fair value hierarchy. Reconciliation of Level 3 fair values Some of the Corporation’s financial assets and liabilities are classified as Level 3 of the fair value hierarchy because the respective fair value determinations use inputs that are not based on observable market data. As at December 31, 2018 and December 31, 2017, for each Level 3 asset or liability the valuation techniques and key inputs used by the Corporation were as follows:
The following table shows a reconciliation from opening balances to the closing balances for Level 3 fair values:
* The unsettled bets liability is recorded in accounts payable and other liabilities on the consolidated statement of financial position as at December 31, 2017 and is recorded in derivatives on the consolidated statement of financial position as at December 31, 2018. |
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- Definition The entire disclosure for fair value measurement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Disclosure of fair value measurement of assets and liabilities. No definition available.
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Statements of Cash Flows |
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Disclosure Of Cash Flow Statement [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Statements of Cash Flows |
Changes in non-cash operating elements of working capital
Changes in liabilities arising from financing activities The table below details changes in the Corporation’s liabilities (excluding derivative instruments) arising from financing activities, including both cash and non-cash changes. Liabilities arising from financing activities are those which cash flows were, or future cash flows will be, classified in the Corporation’s consolidated statements of cash flows as net cash flows from financing activities.
* Adjusted on adoption of IFRS 9. See note 4. |
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- Definition The entire disclosure for a statement of cash flows. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Disclosure of cash flow statement. No definition available.
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Contingent Liabilities |
12 Months Ended |
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Dec. 31, 2018 | |
Disclosure Of Contingent Liabilities [Abstract] | |
Contingent Liabilities |
As part of management’s ongoing regulatory compliance and operational risk assessment process, management monitors legal and regulatory developments and proceedings, and their potential impact on the business. Kentucky Prior to the Stars Interactive Group Acquisition, the Commonwealth of Kentucky, ex. rel. J. Michael Brown, Secretary of the Justice and Public Safety Cabinet, filed a legal proceeding against Oldford Group and certain affiliates thereof (the “Oldford Parties”) and various other defendants (the “Kentucky Proceeding”), pursuant to which the Commonwealth sought to recover alleged gambling losses on behalf of Kentucky residents who played real-money poker on the PokerStars website during the period between October 12, 2006 and April 15, 2011. On August 12, 2015, the trial court in the Kentucky Proceeding entered a default judgment against the Oldford Parties following certain alleged discovery failures, including by certain former owners of Oldford Group., and partial summary judgment on liability in favor of the Commonwealth. On December 23, 2015, the trial court entered an order for damages in the amount of $290 million, which the trial court trebled to $870 million, plus interest at the statutory rate. The Corporation, through certain subsidiaries, filed a notice of appeal to the Kentucky Court of Appeals and posted a $100 million supersedeas bond to stay enforcement of the order for damages during the pendency of the appeals process. In connection with the posting of the bond, the Corporation delivered cash collateral in the amount of $5 million and letters of credit in the aggregate amount of $65 million. On December 21, 2018, the Kentucky Court of Appeals ruled in the Corporation’s favor and reversed in its entirety the $870 million judgment. On January 18, 2018, the Commonwealth filed a motion for discretionary review with the Kentucky Supreme Court asking the Court to determine if it will hear an appeal of the decision issued by the Kentucky Court of Appeals. As of the date of these consolidated financial statements, a decision regarding the Commonwealth’s motion for discretionary review is still pending with the Kentucky Supreme Court. If the Kentucky Supreme Court decides to hear the Commonwealth’s appeal, the Corporation will vigorously dispute the liability as it believes the action is frivolous. To the extent the Oldford Parties may be ultimately obligated to pay any amounts pursuant to a final adjudication following exhaustion of all appeals and other legal options, the Corporation intends to seek recovery against the former owners of Oldford Group. In late-January 2016, pursuant to and in accordance with the procedures set forth in the merger agreement governing the Stars Interactive Group Acquisition, a subsidiary of the Corporation submitted a notice of claim to the sellers’ representative and escrow agent seeking indemnification for losses and potential losses caused by breaches under the merger agreement and requesting, among other things, that the escrow agent retain the then-remaining balance of the escrow fund established under the merger agreement in an aggregate amount equal to $300 million. With the exception of the claim relating to the Kentucky Proceeding, all such claims have since been settled. The escrow fund was reduced accordingly and continues to be held by the escrow agent. The remaining disputed claim regarding the Kentucky Proceedings and release of the outstanding escrow funds will be resolved in accordance with the provisions of the merger and escrow agreements related to the Stars Interactive Group Acquisition, and there can be no assurance that such claim will result in any amounts in the escrow fund being remitted to the Corporation or that any of the Corporation’s estimates of potential losses will reimbursed by the sellers or otherwise. Class Action There is one currently pending class action complaint in Quebec, Canada (the “Quebec Class Action”) against the Corporation and certain other defendants, which was filed during the year ended December 31, 2016 and generally alleges, among other things, that the Corporation violated certain securities laws by misrepresenting or failing to disclose information related to the charges made by the Autorité des marchés financiers against the former Chief Executive Officer and that the Corporation did not properly disclose that it had inadequate or ineffective internal controls and that one or more of its directors and its former Chief Executive Officer were in breach of its Code of Business Conduct. The Corporation believes that the Quebec Class Action is without merit and intends to vigorously defend itself; however, there can be no assurance that the Corporation will be successful in its defense. No provision has been recorded regarding this matter. Given the nature of the legal and regulatory landscape of the industry in which it operates, from time to time the Corporation has also received notices, communications and legal actions from regulatory authorities in various jurisdictions and other parties in respect of its activities. The Corporation has taken legal advice as to the manner in which it should respond and the likelihood of success of such actions. Based on this advice and the nature of the actions, no provisions have been recorded with respect to any such legal or regulatory notices, communications or actions for the year ended December 31, 2018. |
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- References No definition available.
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- Definition The disclosure of contingent liabilities. [Refer: Contingent liabilities [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Financial Instruments Risk Management |
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Disclosure Of Financial Instruments [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financial Instruments Risk Management |
Foreign Exchange Risk The Corporation is subject to foreign currency exposure on its financial instruments and the translation of its subsidiaries with foreign functional currencies to USD. The Corporation primarily manages its foreign currency exposure through its hedging instruments. See note 19. As at December 31, 2018, the Corporation’s significant foreign exchange currency exposure on its financial instruments by currency was as follows (in U.S. dollar equivalents):
The table below details the effect on equity and earnings before tax of a 10% strengthening or weakening of the USD exchange rate at the balance sheet date for balance sheet items denominated in CDN, EUR, GBP and AUD after the effect of the Corporation’s hedging activities:
The table below details the effect on equity of a 10% strengthening or weakening of the EUR:USD or the EUR:GBP exchange rates on the valuations of the Swap Agreements that hedge the USD First Lien Term Loan. 10% is the sensitivity rate used when reporting foreign currency risk internally to key management personnel and represents management’s assessment of the reasonably possible change in foreign exchange rates.
Interest Rate Risk The Corporation’s exposure to changes in interest rates (particularly, fluctuations in LIBOR) relates primarily to interest paid on the Corporation’s long-term indebtedness, as well as the interest earned on and market value of its cash and investments. The Corporation is also exposed to fair value interest rate risk with respect to its Senior Notes and cash flow interest rate risk on the unhedged elements of the USD First Lien Term Loan, and the EUR First Lien Term Loan which bear interest at variable rates. The Corporation manages its foreign currency exposure through its hedging instruments. See note 19. The table below details the effect on earnings before tax of a 100 basis points strengthening or weakening of the LIBOR and EURIBOR interest rates on these loans after the effect of the Corporation’s hedging activities. 100 basis points sensitivity is the sensitivity rate used when reporting interest rate risk internally to key management personnel and represents management’s assessment of the reasonably possible change in interest rates:
The USD First Lien Term Loan has a floor of 0% for the LIBOR and as such, the interest rate cannot decrease below 3.50% respectively. The EUR First Lien Term Loan has a floor of 0% for the EURIBOR and as such, the interest rate cannot decrease below 3.75%. Management monitors movements in the interest rates by reviewing the EURIBOR and LIBOR on a quarterly basis. During the year ended December 31, 2018 the EURIBOR was negative. The table below details the effect on equity of a 100 basis points strengthening or weakening of the LIBOR and EURIBOR interest rates on the valuations of the Swap Agreements that hedge the USD First Lien Term Loan. 100 basis points is the sensitivity rate used when reporting interest rate risk internally to key management personnel and represents management’s assessment of the reasonably possible change in interest rates:
In July 2017, the Financial Conduct Authority (the authority that regulates LIBOR) announced it intends to stop compelling banks to submit rates for the calculation of LIBOR after 2021. The Alternative Reference Rates Committee ("ARRC") has proposed that the Secured Overnight Financing Rate ("SOFR") is the rate that represents best practice as the alternative to USD-LIBOR for use in derivatives and other financial contracts that are currently indexed to USD-LIBOR. ARRC has proposed a paced market transition plan to SOFR from USD-LIBOR and organizations are currently working on industry wide and company specific transition plans as it relates to derivatives and cash markets exposed to USD-LIBOR. The Company has material contracts that are indexed to USD-LIBOR and is monitoring this activity and evaluating the related risks. Credit Risk Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial loss to the Corporation. The Corporation has adopted a policy of only dealing with creditworthy counterparties and obtaining sufficient collateral where appropriate, as a means of mitigating the risk of financial loss from defaults. The Corporation’s policy is to transact wherever possible with investment grade counterparties. This information is supplied by independent rating agencies where available, and if not available, the Corporation uses other publicly available financial information and its own trading records to rate its major customers. The Corporation’s exposure and the credit ratings of its counterparties are continuously monitored and the aggregate value of transactions concluded is spread amongst approved counterparties. Credit exposure is managed by the Corporation’s treasury and finance groups in accordance with the Corporation’s treasury investment policy, which was approved by the Corporation’s Audit Committee. Credit risk arises from cash and cash equivalents, contractual cash flows of investments carried at amortized cost, at FVOCI and at FVTPL, as applicable, favorable derivative financial instruments and deposits with banks and financial institutions, as well as credit exposures on outstanding accounts receivable. The Corporation does not have any significant credit risk exposure to any single counterparty or any group of counterparties having similar characteristics. The Corporation subjects its accounts receivable, investments carried at FVOCI and cash and restricted cash to the expected credit loss model and specifically uses the simplified approach in respect of accounts receivable. The credit risk on cash and cash equivalents, investments and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies. The Corporation’s treasury investment policy and related strategy is focused on the preservation of capital and supporting its liquidity requirements, not on generating trading profits. The Corporation’s receivables are primarily in relation to payment processors and credit risk associated with these receivables is limited. The application of the expected credit loss model did not result in material impairment losses recorded in respect of these instruments. Age of receivables that are past due but not impaired:
The allowance for doubtful accounts is $16.8 million as at December 31, 2018 (December 31, 2017 – $166,000). Age of impaired trade receivables:
Liquidity Risk Liquidity risk is the Corporation’s ability to meet its financial obligations when they come due. The Corporation is exposed to liquidity risk with respect to its contractual obligations and financial liabilities. The Corporation manages liquidity risk by continuously monitoring forecasted and actual cash flows and matching maturity profiles of financial assets and liabilities. The Corporation’s objective is to maintain a balance between continuity of funding and flexibility through borrowing facilities available through the Corporation’s banks and other lenders. The Corporation’s policy is to seek to ensure adequate funding is available from operations, established lending facilities and other sources, including the debt and equity capital markets, as required. The Corporation’s principal sources of liquidity are its cash generated from operations, Revolving Facility and certain other currently available funds. Currently available funds consist primarily of cash on deposit with banks and investments, which are comprised primarily of certain highly liquid, short-term investments, including money market funds. The Corporation’s working capital needs are generally minimal over the year as its current gaming business requires customers to deposit funds prior to playing or participating in its real-money product offerings. The Corporation believes that such deposits are typically converted to revenue efficiently and on a timely basis such that operating expenditures are sufficiently covered. Management also believes that investing is a key element necessary for the continued growth of the Corporation’s customer base and the future development of new and innovative product offerings. Based on the Corporation’s currently available funds, funds available from the Revolving Facility and its ability to access the debt and equity capital markets, if necessary, management believes that the Corporation will have the cash resources necessary to satisfy current obligations and working capital needs, and fund currently planned development and integration activities and other capital expenditures, as well as currently planned acquisitions, for at least the next 12 months. Notwithstanding, the state of capital markets and the Corporation’s ability to access them on favorable terms, if at all; micro and macro-economic downturns; and fluctuations of the Corporation’s operations, among other things, may influence its ability to secure the capital resources required to satisfy current or future obligations and fund future projects, strategic initiatives and support growth. Customer deposit liabilities relate to customer deposits which are held in multiple bank accounts and highly liquid investments which are segregated from those holding operational funds. These deposits are included in current assets in the consolidated statements of financial position under Cash and cash equivalents – customer deposits and Current investments – customer deposits (see note 15). The following table provides information about the terms of the Corporation’s financial obligations and liabilities:
* Excludes VAT and other taxes as well as the interest accrual on Senior Notes, which are all included in accounts payable and other liabilities on the statements of financial position ** Includes principal and interest, including the interest accrual on Senior Notes
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- References No definition available.
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- Definition The disclosure of the entity's financial risk management practices and policies. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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Related Party Transactions |
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Disclosure Of Transactions Between Related Parties [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transactions |
Key management of the Corporation includes the members of the Board, the Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, Chief Corporate Development Officer, Executive Vice-President and Chief Legal Officer, Chief Technology Officer, and certain other key members of management. The compensation of such key management for the years ended December 31, 2018 and 2017 included the following:
The remuneration of the Chief Executive Officer, Chief Financial Officer, Chief Technology Officer, Chief Operating Officer, Chief Corporate Development Officer, Executive Vice-President and Chief Legal Officer consists primarily of a salary, cash bonuses and share-based awards and was negotiated at arm’s length. Director retainers include both retainers, committee fees and share-based awards. |
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- Definition The entire disclosure for related parties. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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Subsequent Events |
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Dec. 31, 2018 | |
Disclosure Of Nonadjusting Events After Reporting Period [Abstract] | |
Subsequent Events |
Prepayment of First Lien Term Loans On February 22, 2019, the Corporation prepaid $100.0 million of its USD First Lien Term Loan (as defined above), including accrued and unpaid interest, using cash on its balance sheet. |
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- Definition The entire disclosure for events after the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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Summary of Significant Accounting Policies (Policies) |
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Disclosure Of Summary Of Significant Accounting Policies [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Basis of Accounting |
Basis of Accounting The Corporation’s consolidated financial statements have been prepared in accordance with IFRS as issued by the IASB and have been approved and authorized for issuance by the Board of Directors on March 6, 2019. The consolidated financial statements of the Corporation have been prepared on the historical cost basis, except derivative financial instruments, financial instruments at fair value through profit or loss as well as financial instruments at fair value through other comprehensive income, each of which are measured at fair value. On January 1, 2018, the Corporation adopted the provisions in Financial Instruments (“IFRS 9”) and Revenue from Contracts with Customers (“IFRS 15”). See note 4. Significant accounting policies in relation to these adoptions are detailed below. As previously announced, in response to changes in the business following the Australian Acquisitions (as defined below and further detailed in note 7), and to align with financial measures commonly used in the industry, the Corporation made certain reclassifications during the second quarter to the comparative interim condensed consolidated financial statements to enhance their comparability with the current period’s presentation. Consistent reclassifications have been made to the comparative balances in the consolidated financial statements for the year ended December 31, 2018. As a result, certain line items have been amended in the comparative consolidated statement of earnings and financial position and the related notes to the consolidated financial statements. These reclassifications are outlined below: Consolidated Statements of (Loss) Earnings The following financial statement line items, which the Corporation first introduced during the second quarter of 2018, resulted in a re-classification of the comparative period: Cost of revenue (excluding depreciation and amortization), Gross profit (excluding depreciation and amortization) and Operating income.
Consolidated Statements of Financial Position The following re-classifications to the comparative period, which the Corporation first made during the second quarter of 2018, include the following:
Consolidated Statements of Cash Flows There were no material reclassifications to the comparative period. |
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Going Concern |
Going Concern The Board of Directors of the Corporation (the “Board”) have, at the time of approving the consolidated financial statements, a reasonable expectation that the Corporation has adequate resources to continue in operational existence for the foreseeable future. As such, the Corporation continues to adopt the going concern basis of accounting in preparing the consolidated financial statements. |
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Principles of Consolidation |
Principles of Consolidation A subsidiary is an entity controlled by the Corporation. As such, the Corporation is exposed, or has rights, to variable returns from its involvement with such entity and has the ability to affect those returns through its current ability to direct such entity’s relevant activities (i.e., control over the entity). The existence and effect of substantive voting rights that the Corporation potentially has the practical ability to exercise (i.e., substantive rights) are considered when assessing whether the Corporation controls another entity. The Corporation’s consolidated financial statements include the accounts of the Corporation and its subsidiaries. Upon consolidation, management eliminated all inter-entity transactions and balances. Non-controlling interests in subsidiaries are identified separately from the Corporation’s equity therein. Those non-controlling interests that are present ownership interests entitling their holders to a proportionate share of net assets upon liquidation may initially be measured at fair value or at the non-controlling interests’ proportionate share of the fair value of the subsidiary’s identifiable net assets. The choice of measurement is made on an acquisition-by-acquisition basis. Other non-controlling interests are initially measured at fair value. Subsequent to acquisition, the carrying amount of non-controlling interests is the amount of those interests at initial recognition plus the non-controlling interests’ share of subsequent changes in equity. “Total comprehensive income” is attributed to non-controlling interests even if this results in the non-controlling interests having a deficit balance. Upon the loss of control of a subsidiary, the Corporation’s profit or loss on disposal is calculated as the difference between (i) the fair value of the consideration received and of any investment retained in the former subsidiary and (ii) the previous carrying amount of the assets (including any goodwill) and liabilities of the subsidiary and any non-controlling interests. |
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Revenue Recognition |
Revenue Recognition The Corporation has applied IFRS 15 from January 1, 2018. As permitted, the Corporation applied IFRS 15 using the modified retrospective approach, whereby the cumulative impact of adoption is recognized in opening retained earnings. Comparative information for 2017 has not been restated. See note 4. The adoption of IFRS 15 did not have a material impact on the timing and amount of revenue recognized by the Corporation and the Corporation did not apply the available optional practical expedients. Revenue from contracts with customers is recognized when control of the Corporation’s services is transferred to the customer at an amount that reflects the consideration to which the Corporation expects to be entitled in exchange for those services. The Corporation has concluded that it is the principal in its revenue arrangements because it controls the services before transferring them to the customer. The Corporation has disclosed disaggregated revenue recognized from customers and revenue from other online activities in note 7. The Company evaluates all contractual arrangements it enters into and evaluates the nature of the promised goods or services, and rights and obligations under the arrangement, in determining the nature of its performance obligations. Where such performance obligations are capable of being distinct and are distinct in the context of the contract, the consideration the Corporation expects to be entitled under the arrangement is allocated to each performance obligation based on its relative estimated stand-alone selling prices. Performance obligations that the Corporation concludes are not distinct are combined together into a single combined performance obligation. Revenue is recognized at an amount equal to the transaction price allocated to the specific performance obligation when it is satisfied, either at a point in time or over time, as applicable, based on the pattern of transfer of control. The Company’s principal arrangements include the following sources of revenue: Revenue from customers within the scope of IFRS 15 Poker revenue Poker revenue represents primarily the commission charged at the conclusion of each poker hand in cash games (i.e., rake) and entry fees for participation in poker tournaments, and is net of certain promotional expenses, which are treated as a reduction to the transaction price. In poker tournaments, entry fee revenue is recognized when the tournament has concluded. Gaming revenue Gaming revenue primarily represents the difference between the amounts of bets placed by customers less amounts won (i.e., net house win) and is presented net of certain promotional expenses which are treated as a reduction to the transaction price. Gaming transactions are instantaneously settled and revenue is recognized at a point in time. Poker and Gaming each consist of a single revenue performance obligation, notwithstanding the impact customer loyalty programs as noted below. Revenue is recognized at a point in time upon completion of the performance obligation as noted above. Poker and Gaming are each presented as revenue gross of applicable gaming duties, which are presented within cost of revenue. Conversion margins Revenue from conversion margins is the revenue earned on the processing of real-money deposits and cash outs in specified currencies. Revenue from customer cross currency deposits and withdrawals is recognized when the transaction is complete at a point in time. Revenue is recognized with reference to the underlying arrangement and agreement with the players and represents a single performance obligation and is recorded within the applicable line of operations. Other revenue from customers Play-money gaming revenue - Customers can participate in online poker tournaments and social casino games using play-money, or virtual currency. Customers can purchase additional play-money chips online to participate in the poker tournaments and social casino games. The revenue is recognized at a point in time when the customer has purchased such chips as control has been transferred to the customer and no further performance obligations exist. Once a customer has purchased such chips they are non-refundable and non-cancellable. Other - The Corporation sponsors certain live poker tours and events, uses its industry expertise to provide consultancy and support services to the casinos that operate the events, and has marketing arrangements for branded poker rooms at various locations around the world. The Corporation also provides customers with access to odds comparisons, tips and other information to assist with betting, and provides other media and advertising services, and limited content development services with revenue generated by way of affiliate commissions, revenue share arrangements and advertising income as applicable. Revenue is recognized upon satisfying the applicable performance obligations, at a point in time or over time as applicable. Revenue from customers out of the scope of IFRS 15 Betting revenue The Corporation’s income generated from Betting product offerings does not fall within the scope of IFRS 15. Income generated from these online transactions is disclosed as revenue although these transactions are accounted as derivative instruments in accordance with IFRS 9 where the income meets the definition of gains or losses, as applicable. Betting revenue primarily represents the difference between the amounts of bets placed by customers less amounts won (i.e., net house win). Open betting positions are carried at fair value, and gains and losses arising on these positions are recognized in revenue. Betting is presented as revenue gross of applicable gaming duties, which are presented within cost of revenue. Customer loyalty programs The Corporation operates loyalty programs for its customers within each of its reporting segments that reward customers based on a number of factors, including volume of play, player impact on the overall ecosystem, whether the player is a net withdrawing or net depositing player, and product and game selection. For customer loyalty programs operated by the Corporation, applicable revenue received for which loyalty rights earned by our customers are recorded as a contract liability based on the rewards’ allocated amount and are subsequently recognized as revenue in a future period when the rewards are redeemed. Customer loyalty rewards are included in accounts payable and other liabilities on the consolidated statements of financial position. The estimated selling price of loyalty rewards is determined using an equivalent cash cost approach which uses historical data of award redemption patterns considering the alternative goods or services for which the rewards can be redeemed. The estimated selling price of rewards is adjusted for an estimate of rewards that will not be redeemed based on historical redemption patterns. Historically non-redeemed loyalty rewards have not been significant. Other sources of revenue Income from player funds A portion of customer deposits is held as current investments. Income generated from current investments and dormant accounts does not fall within the scope of IFRS 15. Income generated from investments is disclosed as revenue despite being accounted for in accordance with IFRS 9 where it meets the definition of gains or losses, as applicable. Income (loss) from dormant accounts When a customer deposit account becomes dormant in accordance with Corporation’s terms and conditions, the deposit is removed from customer liabilities and recorded within accounts payable and other liabilities. Income is generated from dormant accounts that are not expected to be re-activated based on historical information and re-activation rates. Losses are recorded on dormant accounts that are re-activated. Income (loss) generated from dormant accounts is disclosed as revenue despite being accounted for in accordance with IFRS 9 where it meets the definition of gains or losses, as applicable. Cost of Revenue Cost of revenue includes direct costs associated with revenue generating activities. Such direct costs include gaming duty, processor costs, and royalties. Cost of revenue does not include depreciation and amortization. |
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Financial Instruments |
Financial Instruments The Corporation applied IFRS 9 retrospectively from January 1, 2018. In accordance with the practical expedients permitted under the standard, comparative information for 2017 has not been restated. As permitted by IFRS 9, the Corporation elected to continue to apply the hedge accounting requirements of International Accounting Standard (“IAS”) 39, Financial Instruments (“IAS 39”) rather than the new requirements of IFRS 9 and will comply with the revised annual hedge accounting disclosures as required by the related amendments to IFRS 7, Financial Instruments: Disclosures (“IFRS 7”). For further information regarding the impact of the adoption of IFRS 9, see note 4. Financial Assets Recognition and Measurement At initial recognition, the Corporation measures a financial asset at its fair value plus, in the case of a financial asset not measured at FVTPL (as defined below), transaction costs that are directly attributable to the acquisition of the financial asset. From January 1, 2018, the Corporation classifies financial assets into one of the following measurement categories:
The classification depends on the Corporation’s business model for managing the financial assets and the contractual terms of the cash flows. Except in very limited circumstances, the classification may not be changed subsequent to initial recognition. The Corporation only reclassifies debt instruments when its business model for managing those assets changes. Debt instruments Subsequent measurement of debt instruments depends on the Corporation’s business model for managing the asset and the cash flow characteristics of that asset. There are three measurement categories into which the Corporation classifies its debt instruments:
Equity instruments The Corporation subsequently measures all equity instruments at fair value, except for equity instruments for which equity method accounting is applied. The classification of equity instruments depends on whether the Corporation has made an irrevocable election at the time of initial recognition to account for the equity instruments at FVOCI. There are two measurement categories into which the Corporation classifies its equity instruments:
Impairment of financial assets At the end of each reporting period, the Corporation assesses on a forward-looking basis the expected credit losses associated with its debt instruments carried at amortized cost and FVOCI. The impairment methodology applied depends on whether there has been a significant increase in credit risk. The impairment provision recorded in respect of debt instruments carried at amortized cost and FVOCI is determined at 12-months expected credit losses on the basis that the Corporation considers these instruments as low risk. The Corporation applies the simplified approach permitted by IFRS 9 for trade receivables and other financial assets held at amortized cost, which requires expected lifetime losses to be recognized from initial recognition of the receivables. The forward-looking element in determining impairment for financial assets is derived from comparison of current and projected macroeconomic indicators covering primary markets in which the Corporation operates. Financial Liabilities Recognition and measurement Financial liabilities are classified, at initial recognition, as either financial liabilities at FVTPL or other financial liabilities.
Debt modifications The Corporation may pursue amendments to its credit agreements based on, among other things, prevailing market conditions. Such amendments, when completed, are considered by the Corporation to be debt modifications. For debt repayable at par with nominal break costs, the Corporation elected to account for such debt modifications as equivalent to repayment at no cost of the original financial instrument and an origination of a new debt at market conditions. Resetting the debt to market conditions with the same lender has the same economic substance as extinguishing the original financial instrument and originating new debt with a third-party lender at market conditions. The transaction is accounted for as an extinguishment of the original debt instrument, which is derecognized and replaced by the amended debt instrument, with any unamortized costs or fees incurred on the original debt instrument recognized as part of the gain or loss on extinguishment. For all other debt, the accounting treatment of debt modifications depends upon whether the modified terms are substantially different than the previous terms. The terms of an amended debt agreement are considered substantially different when either: (i) the discounted present value of the cash flows under the new terms, discounted using the original effective interest rate, are at least ten percent different from the discounted present value of the remaining cash flows of the original debt or (ii) management determines that other changes to the terms of the amended agreement, such as a change in the environment in which a floating interest rate is determined, are substantially different. If the modification is considered to be substantially different, the transaction is accounted for as an extinguishment of the original debt instrument, which is derecognized and replaced by the amended debt instrument, with any unamortized costs or fees incurred on the original debt instrument recognized as part of the gain or loss on extinguishment. If the modification is not considered to be substantially different, an adjustment to the carrying amount of the original debt instrument is recorded, which is calculated as the difference between the original contractual cash flows and the modified cash flows discounted at the original effective interest rate with the difference recognized in net financing changes on the consolidated statements of (loss) earnings. Transaction costs Transaction costs that are directly attributable to the acquisition or issuance of financial assets and financial liabilities (other than financial assets and financial liabilities that are classified as FVTPL) are added to or deducted from, as applicable, the fair value of the financial instrument on initial recognition. These costs are expensed to financial expenses on the consolidated statements of (loss) earnings over the term of the related interest bearing financial asset or financial liability using the effective interest method. When a debt facility is retired by the Corporation, any remaining balance of related debt transaction costs is expensed to financial expenses in the period that the debt facility is retired. Transaction costs related to financial instruments at FVTPL are expensed when incurred.
Classification and impairment of financial assets other than derivatives prior to January 1, 2018 under IAS 39 Financial assets are initially recognized at fair value and are classified as either FVTPL, “available-for-sale” or as “loans and receivables”. The classification depends on the purpose for which the financial instruments were acquired and their respective characteristics. Fair value through profit or loss Financial assets at FVTPL are financial assets held-for-trading. A financial asset is classified in this category if acquired principally for the purpose of selling in the short-term or as otherwise determined by management to be in this category. Financial assets classified at FVTPL are measured at fair value with the realized and unrealized changes in fair value recognized each reporting period in the consolidated statements of (loss) earnings. The Corporation classified certain short-term investments as FVTPL as at December 31, 2017. Available-for-sale Available-for-sale assets are financial assets that are either designated in this category or not classified in any of the other categories. Such assets are included in other non-current financial assets unless management intends to dispose of them within 12 months of the date of the consolidated statements of financial position. Financial assets classified as available-for-sale are carried at fair value with changes in fair value recorded in the consolidated statements of comprehensive (loss) income. Interest on available-for-sale assets is calculated using the effective interest rate method and is recognized in the consolidated statements of (loss) earnings. When a decline in fair value is determined to be significant or prolonged, the cumulative loss included in accumulated other comprehensive income (loss) is reclassified as such and then recognized in the consolidated statements of (loss) earnings. Gains and losses realized on the disposal of available-for-sale assets are recognized in the consolidated statements of (loss) earnings. The Corporation classifies certain current and noncurrent investments as available-for-sale. Loans and receivables Loans and receivables are financial assets with fixed or determinable payments but which are not quoted in an active market. All such assets with maturities equal to or less than 12 months from the date of the consolidated statements of financial position are classified as current assets, while those with maturities greater than 12 months from such date are classified as non-current assets. Financial instruments classified as loans and receivables are initially recorded at fair value and subsequently measured at amortized cost using the effective interest method. The Corporation classifies accounts receivable and promissory notes as loans and receivables. Impairment At the end of each reporting period, the Corporation assesses whether a financial asset or a group of financial assets, other than those classified as FVTPL, is impaired. If there is objective evidence that impairment exists, the loss is recognized in the consolidated statements of (loss) earnings. The impairment loss is measured as the difference between the acquisition cost and the current fair value, less any impairment loss on that financial asset previously recognized in the consolidated statements of (loss) earnings. Derivatives As permitted by IFRS 9, the Corporation elected to continue to apply the hedge accounting requirements of IAS 39 rather than the new requirements of IFRS 9 and will comply with the revised annual hedge accounting disclosures as required by the related amendments to IFRS 7. The Corporation uses derivative instruments for risk management purposes and does not use derivative instruments for speculative trading purposes (except for derivatives with respect to the Corporation’s Betting line of operations, which are transactions within the scope of IFRS 9 but reported as revenue as discussed above). All derivatives are recorded at fair value in the consolidated statements of financial position. The accounting for subsequent changes in fair value depends on whether the derivative is designated as a hedging instrument, and if so, the nature of the item being hedged. For derivatives not designated as hedging instruments, the re-measurement of those derivatives each period is recognized in the consolidated statements of (loss) earnings. Derivatives may be embedded in other financial liabilities and non-financial instruments (i.e., the host instrument). Embedded derivatives are treated as separate derivatives when their economic characteristics and risks are not closely related to those of the host instrument, the terms of the embedded derivative are the same as those of a stand-alone derivative and the combined instrument (i.e., the embedded derivative plus the host instrument) is not held-for-trading or designated at fair value. These embedded derivatives are measured at fair value with subsequent changes recognized in the consolidated statements of (loss) earnings. A derivative embedded within a hybrid contract containing a financial asset host is not accounted for separately under IFRS 9. The financial asset host together with the embedded derivative is required to be classified in its entirety as a financial asset at FVTPL. Hedge accounting The Corporation designates certain derivatives as either:
At inception of the hedge relationship, the Corporation formally documents how the hedging relationship meets the hedge accounting criteria. It also records the economic relationship between the hedged item and the hedging instrument, including the nature of the risk, the risk management objective and strategy for undertaking the hedge and the method that will be used to assess the effectiveness of the hedging relationship at inception and on an ongoing basis. Cash flow hedges The Corporation uses derivatives for cash flow hedges. The effective portion of the change in fair value of the hedging instrument is recorded in other comprehensive income and accumulated in the cash flow hedging reserve, while the ineffective portion is recognized immediately in the consolidated statements of (loss) earnings. Gains and losses on cash flow hedges accumulated in other comprehensive (loss) income are reclassified to the consolidated statements of (loss) earnings in the same period the hedged item affects the consolidated statements of (loss) earnings. If the forecast transaction is no longer expected to occur, the hedge no longer meets the criteria for hedge accounting, the hedging instrument expires or is sold, terminated or exercised, or the designation is revoked, the hedge accounting is discontinued prospectively. If the forecast transaction is no longer expected to occur, then the amount accumulated in equity is reclassified to the consolidated statements of (loss) earnings. Net investment hedges Hedges of net investments in foreign operations are accounted for similarly to cash flow hedges. Any gain or loss on the hedging item relating to the effective portion of the hedge is recognized in other comprehensive income and accumulated under the heading cumulative translation adjustments reserve. The gain or loss relating to the ineffective portion is recognized immediately in the consolidated statements of (loss) earnings. Gains and losses accumulated in other comprehensive income are reclassified to the consolidated statements of (loss) earnings when the foreign operation is partially disposed of or sold. Determination of fair value Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the applicable measurement date. When measuring the fair value of an asset or a liability, the Corporation uses market observable data to the extent possible. If the fair value of an asset or a liability is not directly observable, it is estimated by the Corporation using valuation techniques that maximize the use of relevant observable inputs and minimize the use of unobservable inputs (e.g., by the use of the market comparable approach that reflects recent transaction prices for similar items, discounted cash flow analysis, or option pricing models refined to reflect the Corporation’s specific circumstances). Inputs used are consistent with the characteristics of the asset or liability that market participants would take into account. For the Corporation’s financial instruments which are recognized in the consolidated statements of financial position at fair value, the fair value measurements are categorized based on the lowest level input that is significant to the fair value measurement in its entirety and the degree to which the inputs are observable. The significance levels are classified as follows in the fair value hierarchy: Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 – Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly; and Level 3 – Inputs for the asset or liability that are not based on observable market data. Transfers between levels of the fair value hierarchy are recognized by the Corporation at the end of the reporting period during which the transfer occurred. |
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Cash and Cash Equivalents |
Cash and cash equivalents Cash and cash equivalents comprise cash in hand, bank deposits and other short-term highly liquid investments with maturities of three months or less, which are generally used by the Corporation to meet short-term liquidity requirements. |
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Leases |
Leases Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. All other leases are classified as operating leases. The Corporation assessed all its leases to be operating leases. The Corporation as lessor Rental income from operating leases is recognized on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognized on a straight-line basis over the lease term. The Corporation as lessee Rents payable under operating leases are recognized as an expense on a straight-line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed. Contingent rentals arising under operating leases are recognized as an expense in the period in which they are incurred. In the event that lease incentives are received to enter into operating leases, such incentives are recognized as a liability. The aggregate benefit of any such incentive is recognized as a reduction of rental expense on a straight-line basis over the lease term, except where another systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed. |
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Prepaid Expenses and Deposits |
Prepaid Expenses and Deposits Prepaid expenses and deposits consist of amounts paid in advance or deposits made for which the Corporation will receive goods or services. |
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Property and Equipment |
Property and Equipment Property and equipment which have finite lives are recorded at cost less accumulated depreciation and impairment losses. Depreciation is expensed from the month the particular asset is available for use, over the estimated useful life of such asset at the following rates, which in each case are intended to reduce the carrying value of the asset to the estimated residual value:
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Intangible Assets |
Intangible Assets Intangible assets which have finite lives are recorded at cost less accumulated amortization and impairment losses. Amortization is expensed from the month the particular asset is available for use, over the estimated useful life of such asset at the following rates, which in each case are intended to reduce the carrying value of the asset to the estimated residual value:
The amortization method, useful life and residual values are assessed annually and the assets are tested for impairment, whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Upon retirement or disposal, the cost of the asset disposed of and the related accumulated amortization are removed from the consolidated statements of financial position and any gain or loss is reflected in the consolidated statements of (loss) earnings. Expenditures for repairs and maintenance are expensed as incurred. The Corporation determined that its owned brands have indefinite useful lives as they have no foreseeable limit to the period over which such assets are expected to contribute to the Corporation’s cash flows. In addition, the Corporation expects to continue to support its brands with ongoing marketing efforts. The Corporation tests its owned brands for impairment at least annually, or more frequently if circumstances such as significant declines in expected sales, net earnings or cash flows indicate that the cash-generating units (“CGUs”) to which such brands relate might be impaired. |
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Goodwill |
Goodwill Goodwill represents the excess of the purchase price over the fair value of the identifiable net assets acquired in a business acquisition. After initial recognition, goodwill is measured at cost less any accumulated impairment losses. Goodwill is tested for impairment at least annually, or more frequently if circumstances such as significant declines in expected sales, net earnings or cash flows indicate that that the CGUs or group of CGUs to which goodwill is allocated might be impaired. The Corporation monitors and tests goodwill for impairment at the operating segment level. |
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Research and Development |
Research and Development Research and development costs are expensed except in cases where development costs meet certain identifiable criteria for deferral. Deferred development costs, which have probable future economic benefits, can be clearly defined and measured, and are incurred for the development of new products or technologies, are capitalized. These development costs, net of related research and development investment tax credits, are not amortized until the products or technologies are commercialized or when the asset is available for use, at which time, they are amortized over the estimated life of the commercial production of such products or technologies. The amortization method and the life of the commercial production are assessed annually and the assets are tested for impairment whenever an indication exists that an asset might be impaired. The Corporation claims research and development investment tax credits as a result of incurring scientific research and experimental development expenditures. Research and development investment tax credits are recognized when the related expenditures are incurred and there is reasonable assurance of their realization. Investment tax credits are accounted for by the cost reduction method whereby the amounts of tax credits are applied as a reduction of the expense or deferred development costs. |
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Investments |
Investments Investments are stated at the lower of cost and fair market value. Cost is determined on a weighted average basis at a consolidated level. |
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Investments in Associates |
Investments in Associates An associate is an entity over which the Corporation has significant influence and that is neither a subsidiary nor an interest in a joint venture. Significant influence is the power to participate in the financial and operating policy decisions of the associate but is not the control or joint control over those policy decisions. The results and assets and liabilities of associates are incorporated in these consolidated financial statements using the equity method of accounting, except when the investment is classified as held for sale, in which case it is accounted for in accordance with IFRS 5, Non-current Assets Held for Sale and Discontinued Operations. Under the equity method, an investment in an associate is initially recognized in the consolidated statements of financial position at cost and adjusted thereafter to recognize the Corporation’s share of the profit or loss and other comprehensive income of the associate. When the Corporation's share of losses of an associate exceeds the Corporation's interest in that associate (which includes any long-term interests that, in substance, form part of the Corporation's net investment in the associate), the Corporation discontinues recognizing its share of further losses. Additional losses are recognized only to the extent that the Corporation has incurred legal or constructive obligations or made payments on behalf of the associate. An investment in an associate is accounted for using the equity method from the date on which the investee becomes an associate. On acquisition of the investment in an associate, any excess of the cost of the investment over the Corporation's share of the net fair value of the identifiable assets and liabilities of the associate is recognized as goodwill, which is included within the carrying amount of the investment. Any excess of the Corporation's share of the net fair value of the identifiable assets and liabilities over the cost of the investment, after reassessment, is recognized immediately in the consolidated statements of (loss) earnings in the period in which the investment is acquired. The requirements of IAS 36, Impairment of Assets (“IAS 36”) are applied to determine whether it is necessary to recognize any impairment loss with respect to the Corporation’s investment in an associate. When necessary, the entire carrying amount of the investment (including goodwill) is tested for impairment as a single asset by comparing its recoverable amount (higher of value in use and fair value less costs of disposal) with its carrying amount, any impairment loss recognized forms part of the carrying amount of the investment. Any reversal of that impairment loss is recognized to the extent that the recoverable amount of the investment subsequently increases. |
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Impairment of Non-Current Assets |
Impairment of Non-Current Assets Management assesses, at the end of the reporting period, whether there is an indication that an asset may be impaired. If any indication exists, or when annual impairment testing for an asset is required, the Corporation estimates the asset’s recoverable amount. An asset’s or CGU’s recoverable amount is the higher of the asset’s or CGU’s fair value less costs of disposal and its value in use. When the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. In determining fair value less costs of disposal, recent market transactions are taken into account. If no such transactions can be identified, an appropriate valuation model is used. These calculations are corroborated by valuation multiples, quoted share prices for publicly traded companies or other available fair value indicators. The Corporation bases its impairment calculation on detailed budgets and forecast calculations, which are prepared for the Corporation’s assets or CGU to which such assets are allocated. These budgets and forecast calculations generally cover a period of three to five years. A long-term growth rate is calculated and applied to project future cash flows after the final year included in the forecast. Impairment losses of continuing operations are recognized in the consolidated statements of (loss) earnings in expense categories consistent with the function of the impaired asset. An impairment loss recognized for goodwill may not be reversed. At the end of the reporting period, the Corporation assesses if there is an indication that impairment losses recognized in previous periods for other assets have decreased or no longer exist. Where an impairment loss is subsequently reversed, the carrying amount of the asset or CGU is increased to the revised estimate of its recoverable amount provided that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognized in prior years. A reversal of an impairment loss is recognized immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase. |
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Taxation |
Taxation Income tax expense represents the sum of current and deferred taxes. Current and deferred taxes are recognized in the consolidated statements of (loss) earnings, except to the extent they relate to items recognized in the consolidated statements of comprehensive (loss) income or directly in the consolidated statements of changes in equity. Current tax Current tax payable is based on taxable income for the year. Taxable income differs from earnings as reported in the consolidated statements of (loss) earnings because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Corporation’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the particular reporting period. Deferred tax Deferred tax is recognized on temporary differences between the carrying amounts of assets and liabilities in the Corporation’s consolidated financial statements and the corresponding tax bases used in the computation of taxable income. Deferred tax liabilities are generally recognized for all taxable temporary differences. Deferred tax assets are recognized for all deductible temporary differences to the extent that it is probable that taxable income will be available against which those deductible temporary differences can be utilized. Such deferred tax assets and liabilities are not recognized if the temporary difference arises from the initial recognition of goodwill or from the initial recognition (other than in a business combination) of other assets and liabilities in a transaction that affects neither the taxable income nor the accounting earnings. Deferred tax liabilities are recognized for taxable temporary differences associated with investments and interests in subsidiaries and associates, except where the Corporation is able to control the reversal of the temporary difference and it is probable that the temporary difference will not reverse in the foreseeable future. Deferred tax assets arising from deductible temporary differences associated with such investments and interests are only recognized to the extent that it is probable that there will be sufficient taxable income against which to utilize the benefits of the temporary differences and they are expected to reverse in the foreseeable future. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable income will be available to allow all or part of any such asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset is realized, in each case based on tax rates and tax laws that have been enacted or substantively enacted by the end of the reporting period. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Corporation expects, at the end of the particular reporting period, to recover or settle the carrying amount of its assets and liabilities. Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when they relate to income taxes levied by the same taxation authority and the Corporation intends to settle its current tax assets and liabilities on a net basis. Deferred tax assets and liabilities are not discounted. Current and deferred tax are recognized in the consolidated statements of (loss) earnings, except when they relate to items that are recognized in other comprehensive income or directly in equity, in which case, the current and deferred tax are also recognized in other comprehensive income or directly in equity, respectively. Where current tax or deferred tax arises from the initial accounting for a business combination, the tax effect is included in the accounting for the business combination. |
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Share Based Payments |
Share based payments The Corporation maintains an equity-based long-term incentive award program to align interests of its management team with those of its Shareholders by focusing the management team on long-term objectives over a multi-year period, with the value of the award fluctuating based on stock price appreciation. The Corporation has two equity-based award plans and accounts for grants under these plans in accordance with the fair value-based method of accounting for stock-based compensation for the applicable period. The Corporation currently makes its equity grants under its Equity Incentive Plan dated June 22, 2015 (the “2015 Equity Incentive Plan”), which provides for grants of stock options (“Options”), Restricted Share Units (“RSU”), Deferred Share Units (“DSU”), Performance Share Units (“PSU”), Restricted Shares (“RS”), and other Common Share-based awards as the Board may determine. Prior to the Corporation’s 2015 annual shareholder meeting (the “2015 Annual Meeting”), equity-based awards were granted solely under the Corporation’s 2010 stock option plan, as amended from time to time (the “2010 Stock Option Plan” and together with the 2015 Equity Incentive Plan, the “Plans”) and consisted only of Options. The Corporation no longer grants Options under the 2010 Stock Option Plan, but it remains in effect only to govern the terms of outstanding Options granted prior to the date of the 2015 Annual Meeting. Effective for 2017, the Corporation replaced the stock option component of the long-term incentive program for its management team with a regular, annual grant program that is comprised of PSUs and RSUs. The RSUs are subject to service vesting conditions and the PSUs are subject to service, market and non-market vesting conditions. The Corporation also offers DSUs, RSUs and RS for members of its Board of Directors. Non-employee equity-settled share-based payments are measured at the fair value of the goods and services received, except where that fair value cannot be estimated reliably. If the fair value cannot be measured reliably, non-employee equity-settled share-based payments are measured at the fair value of the equity instrument granted as measured at the date the entity obtains the goods or the counterparty renders the service. Stock-based compensation expense is recognized over the contract life of the options or the option settlement date, whichever is earlier. |
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Stock Options |
Stock Options Compensation expense for equity-settled stock options awarded to participants under the Plans is measured at the fair value at the grant date using the Black-Scholes-Merton valuation model and is recognized using the graded vesting method over the vesting period of the options granted. Stock-based compensation expense recognized is adjusted to reflect the number of options that have been estimated by management for which conditions attaching to service will be fulfilled as of the grant date until the vesting date so that the recognized expense corresponds to the options that have vested. Stock-based compensation expense is recorded in the equity reserve when the expense is recognized in the consolidated statements of (loss) earnings. When options are exercised, any consideration received from participants as well as the related compensation cost recorded within the equity reserve are credited to share capital. |
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Other Equity-Settled Share Based payments |
Other equity-settled share based payments Restricted Share Units An RSU is a unit equivalent in value to a Common Share which entitles the holder to receive Common Shares after a specified vesting period determined by the Plan Administrator of the 2015 Equity Incentive Plan (the “Plan Administrator”), in its sole discretion. Upon settlement, holders will receive one fully paid Common Share in respect of each vested RSU. Generally, the RSUs vest in equal annual installments over a three or four-year period (graded vesting method), and subject to continued employment through each vesting date. Performance Share Units A PSU is a unit equivalent in value to a Common Share which entitles the holder to receive Common Shares based on the achievement of performance goals established by the Plan Administrator, including in consultation with management, over a performance period. Generally, the PSUs vest on the third anniversary of the date of the grant (cliff vesting), and based on a weighted mix of revenue and Adjusted EBITDA targets of the Corporation for the applicable three-year performance period as well as the individual remaining employed by, or continuing to provide services to, the Corporation. The grantee is eligible for additional PSUs (the “Additional PSUs”) up to 50% of the PSUs granted on the grant date, subject to an additional total shareholder return condition (the “TSR Condition”), and to the extent the other service and performance conditions are met. The Additional PSUs have service, non-market and market (i.e., the TSR Condition) vesting conditions, all of which must be satisfied to vest. Upon settlement, holders will receive fully paid Common Shares in proportion to the number of vested PSUs held and the level of performance achieved. Any unearned PSUs will be forfeited.
Deferred Share Units The Corporation offers DSU grants to the members of the Board. Upon settlement, holders will receive one fully paid Common Share in respect of each vested DSU. The Corporation recognizes services received in a share-based payment transaction as an expense over the requisite service period and recognizes a corresponding increase in equity as the services are received. DSUs vest immediately or over either a one-, two- or three-year period. The grant date is the date on which the Corporation and the Directors have a shared understanding of all the terms and conditions of the arrangement. If the grant date occurs after the service commencement date, then the Corporation estimates the grant-date fair value of the DSUs for the purpose of recognizing the expense from the service commencement date until the accounting grant date. All grants are subject to forfeiture if the director ceases to serve as a director prior to vesting and vested DSUs can only be settled at such time. Restricted Shares An RS is a fully paid Common Share that is subject to restrictions on transfer and a risk of forfeiture for a period of time, and which shall be held by the Corporation or its designee in escrow until such time as the restricted period lapses. The Plan Administrator shall have the authority to determine at the time of grant, the duration of the restricted period and other restrictions applicable to the restricted Common Shares. Except for the restrictions applicable to the restricted Common Shares, during the restricted period, the holder shall have all the rights and privileges of a holder of Common Shares as to the restricted Common Shares, including the right to vote. All previously outstanding RS vested and were settled during the year ended December 31, 2017. With respect to RS, RSUs, PSUs and DSUs, the Corporation doesn’t currently expect to pay any dividends during the vesting period. Therefore, the fair market value of a RS, RSU, PSU or DSU is equal to the market price of the underlying Common Share at the grant date. On the grant date, the fair value of the awards is measured using the closing TSX stock price, or the closing Nasdaq stock price if the Common Shares are not traded on the TSX. The fair market value of the Additional PSUs is determined using a simulation based valuation to reflect the probability of the market condition being met. The service and non-market conditions, do not affect the fair value of the awards at grant date. Market conditions are reflected as an adjustment (discount) to the initial estimate of fair value at grant date of the instrument to be received and there is no true-up for differences between estimated and actual vesting due to market conditions. Share-based compensation expense is recognized over the vesting period in the consolidated statements of (loss) earnings with a corresponding increase to the equity reserve. Once the awards vest and are settled with the counterparty, the related amount recorded within the equity reserves is credited to share capital. |
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Dividend Equivalents |
Dividend Equivalents RS, RSUs, PSUs and DSUs may be credited with dividend equivalents in the form of additional RS, RSUs, PSUs, DSUs and other share-based awards, as applicable. Dividend equivalents shall vest in proportion to the awards to which they relate. Such dividend equivalents shall be computed by dividing: (i) the amount obtained by multiplying the amount of the dividend declared and paid per Common Share by the number of RS, RSUs, PSUs, DSUs or other share-based awards, as applicable, held by the participant on the record date for the payment of such dividend, by (ii) the highest closing price of the Common Shares on any stock exchange on which the Common Shares are then listed on the date of grant, at the close of the first business day immediately following the dividend record-date. |
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Provisions |
Provisions Provisions represent liabilities of the Corporation for which the amount or timing of payment is uncertain. Provisions are recognized when the Corporation has a present legal or constructive obligation as a result of past events, it is probable that an outflow of resources will be required to settle the obligation, and the amount can be reliably estimated. Provisions are measured at the present value of the expected expenditures required to settle the obligation using a discount rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in provisions due to the passage of time is recognized in interest accretion within net financing charges on the consolidated statements of (loss) earnings. Contingent liabilities Contingent liabilities are possible obligations the existence of which will be confirmed by uncertain future events that are not wholly within the control of the entity. Contingent liabilities also include obligations that are not recognized because their amount cannot be measured reliably or because settlement is not probable. A contingent liability is not recognized in the consolidated statements of financial position. However, unless the possibility of an outflow of economic resources is remote, a contingent liability is disclosed in the notes. |
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Translation of Foreign Operations and Foreign Currency Transactions |
Translation of Foreign Operations and Foreign Currency Transactions Functional and presentation currency IFRS requires entities to consider primary and secondary indicators when determining functional currency. Primary indicators are closely linked to the primary economic environment in which the entity operates and are given more weight. Secondary indicators provide supporting evidence to determine an entity’s functional currency. Once the functional currency of an entity is determined, it should be used consistently, unless significant changes in economic factors, events and conditions indicate that the functional currency has changed. A change in functional currency is accounted for prospectively from the date of the change by translating all items into the new functional currency using the exchange rate at the date of the change. Based on an analysis of the primary and secondary indicators, the functional currency of each of the Corporation and its subsidiaries have been determined. The functional currency of the Corporation is CDN. The Corporation’s consolidated financial statements are presented in U.S. dollars. Transactions and balances Foreign currency transactions are translated into the applicable functional currency using the exchange rates prevailing on the dates of the transactions or valuation where items are re-measured. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized within general and administrative expenses. Group companies The results and financial position of the Corporation’s subsidiaries that have a functional currency different from the Corporation’s presentation currency are translated into the presentation currency as follows:
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Business Combination |
Business Combinations Business combinations are accounted for using the acquisition method. Under this method, the identifiable assets acquired and liabilities assumed, including contingent liabilities, are recognized in the consolidated statements of financial position at their respective fair values. Goodwill is recorded based on the excess of the fair value of the consideration transferred over the fair value of the Corporation’s interest in the acquiree’s net identifiable assets on the date of the acquisition. Any excess of the identifiable net assets over the consideration transferred is immediately recognized in the consolidated statements of (loss) earnings. The consideration transferred by the Corporation to acquire control of an entity is calculated as the sum of the acquisition-date fair values of the assets transferred, liabilities incurred and equity interests issued by the Corporation, including the fair value of all the assets and liabilities resulting from a deferred contingent payment arrangement. Acquisition-related costs are expensed as incurred. |
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Operating Segments |
Operating Segments Segments are reported in a manner consistent with the internal reporting provided to the Corporation’s Chief Operating Decision Maker (“CODM”). The Corporation’s CODM consists of its Chief Executive Officer, Chief Financial Officer and Chief Corporate Development Officer, as this group is responsible for allocating resources to, and assessing the performance of, the operating segments of the Corporation. |
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Key Sources of Estimation Uncertainty |
Key sources of estimation uncertainty Determining the carrying amounts of some assets and liabilities requires estimation of the effects of uncertain future events on those assets and liabilities at the end of the reporting period. The following discussion sets forth key sources of estimation uncertainty at the end of the reporting period, that management believes have a significant risk of resulting in a material adjustment to the carrying amounts of assets and liabilities within the next financial year. Goodwill impairment At least annually, the Corporation tests whether goodwill is subject to any impairment in accordance with the applicable accounting policy set forth in note 2. The Corporation applied judgment in the allocation of goodwill to the identified cash-generating units (“CGUs”). Prior to the SBG Acquisition, the Corporation identified potential synergy benefits that management estimated would be realized in both the International and United Kingdom CGUs and accordingly attributed a portion of the goodwill recognized from the SBG Acquisition to the International CGU for impairment testing purposes, given the synergies were taken into account when determining an appropriate purchase price. The annual recurring synergy benefit applicable to each CGU was calculated and the net present value of this recurring benefit to each CGU was used to allocate the appropriate proportion of goodwill accordingly. The recoverable amount for any CGU or group of CGUs is determined based on the higher of fair value less costs to sell and value in use. Both valuation approaches require management to use judgments and estimates. Goodwill impairment exists when the carrying value of a CGU or group of CGUs exceeds its recoverable amount. Estimates used in determining the recoverable amount include but are not limited to expected cash flows, growth rates, capital expenditures and discount rates. A change in future earnings or any other assumptions may have a material impact on the fair value of the CGU or group of CGUs, and could result in an impairment loss. See note 11. Valuation of deferred contingent payment on acquisition of non-controlling interest As part of the incremental acquisition of an 18% equity interest in BetEasy, BetEasy’s management team will be entitled to an additional payment of up to AUD 239 million in 2020, subject to certain performance conditions primarily related to its EBITDA, and payable in cash and/or additional Common Shares at The Stars Group’s discretion. The Corporation considered this additional payment to be a contingent consideration and accounted for it as part of the purchase price related to the acquisition of the 18% equity interest in BetEasy. The deferred contingent payment is subsequently recorded at fair value at each balance sheet date, with re-measurements recorded within net financing charges in the consolidated statements of (loss) earnings. In valuing the deferred contingent payment as at December 31, 2018, the Corporation used a discount rate of 10.5%, considering the term of the deferred contingent payment period and credit risk. The Corporation applied a volatility of historical EBITDA for comparable companies of 25%, which was based on historical performance and market indicators. See notes 5 and 26. Uncertain tax positions Determining the Corporation’s income tax and its provisions for income taxes involves a significant degree of estimation and judgment, particularly in respect of open tax returns relating to prior years where the liabilities remain to be agreed with the local tax authorities. The Corporation is also subject to tax authority audits and has a number of open tax enquiries. As a result, it has recognized a number of provisions against uncertain tax positions that are recognized based on management’s best estimate of the outcome after taking into consideration all available evidence, and where appropriate, after taking external advice. The tax provisions recorded in the Corporation’s consolidated financial statements in respect of prior years relate to intercompany trading and financing arrangements entered into in the normal course of business and tax audits that are currently in progress with fiscal authorities. Due to the uncertainty associated with such tax items it is possible that at a future date, on resolution of the open tax matters, the final outcome may vary significantly and there is the potential for a material adjustment to the carrying amounts of the liability recorded as a result of this estimation uncertainty. |
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Critical Accounting Judgments |
Critical accounting estimates and judgments The preparation of the Corporation’s consolidated financial statements requires management to make estimates and assumptions concerning the future. It also requires management to exercise its judgment in applying the Corporation’s accounting policies. Estimates and judgments are continuously evaluated and are based on historical experience, general economic conditions, and trends and other factors, including expectations of future events. Estimates and their underlying assumptions are reviewed on a regular basis and the effects of any changes are recognized immediately. Changes in the status of certain facts or circumstances could result in material changes to the estimates used in the preparation of the consolidated financial statements and actual results could differ from the Corporation’s estimates. The following discussion sets forth what management believes to be the most significant estimates and assumptions in determining the value of assets and liabilities and the most significant judgments in applying the Corporation’s accounting policies. Determination of purchase price allocations and deferred contingent payments Management makes certain judgments and estimates in the recognition and measurement of assets and liabilities, including separately identifiable intangibles acquired as part of a business combination. Further, management also makes judgments and estimates in determining the value of deferred contingent payments that should be recorded as part of the consideration on the date of acquisition and changes in deferred contingent payments payable in subsequent reporting periods. The deferred contingent payment relating to the incremental acquisition of an 18% equity interest in BetEasy is discussed above in key sources of estimation uncertainty and in note 26. Business combinations may result in the recognition of certain intangible assets, recognized at fair value, including but not limited to, software technology, customer relationships, below market significant contracts, and brands. Judgment is applied in the identification of “identifiable” intangible assets which requires that an asset must be separable or must arise from contractual or other legal rights to distinguish it from goodwill. Specifically, customer relationships recognized in respect of the SBG Acquisition and the Australian Acquisitions are primarily in respect of non-contractual relationships from which the acquired companies have a practice and history of establishing contracts (i.e., customers that have previously engaged in online gaming transactions and are expected to engage in future online gaming transactions) Key estimates made by management in connection with the measurement of acquired intangible assets relating to the SBG Acquisition and the Australian Acquisitions, included:
Acquisition of BetEasy – Control assessment The Corporation acquired a 62% equity interest in BetEasy on February 27, 2018, and a further 18% equity interest on April 24, 2018. As is typical, the shareholders agreement entered into with the minority shareholders of BetEasy in connection with these transactions includes a number of rights and protections for the minority shareholders in certain circumstances that are directly harmful to the minority, including as it relates to significant changes to business scope, material acquisitions or financing. In the Corporation’s judgment such minority shareholder rights are protective rights and the Corporation has control in accordance with IFRS 3, Business Combinations. Useful lives of long-lived assets Estimates are used for each component of an asset’s useful life and is based on an analysis of all pertinent factors including, but not limited to, the expected use of the asset and, in the case of intangible assets, where applicable, contractual provisions that enable the renewal or extension of the asset’s legal or contractual life without substantial cost, as well as renewal history or the expected period of future benefit of the intangible asset. Incorrect estimates of useful lives could result in an increase or decrease in the annual amortization expense and future impairment charges. As noted above, the Corporation acquired significant intangible assets in connection with the SBG Acquisition and the Australian Acquisition. Management used estimates in determining the useful lives for these acquired intangible assets using information regarding, among other things, details of the contractual terms, historical customer activity and attrition, forecasted cash flow information, and market conditions and trends. Debt extinguishment The Corporation applied judgment in determining whether transactions related to its long-term debt during the period should be classified as an extinguishment or modification of such debt. The Corporation considers long-term debt that is pre-payable with no significant termination costs as being extinguished when contractual amendments are made. As discussed in note 17, on April 6, 2018, the Corporation amended its long-term debt in connection with the Australian Acquisitions and recorded the amendment as an extinguishment for accounting purposes as the debt was repayable at par, and no termination costs were incurred. On July 10, 2018, the Corporation’s previous first lien term loans were repaid in full and the transaction was recorded as an extinguishment for accounting purposes. No termination costs were incurred upon repayment. Recognition and valuation of embedded derivatives The Senior Notes (as defined below) include certain embedded features allowing the Corporation to redeem the Senior Notes or allowing the holders to require a redemption of the Senior Notes. The Corporation applied its judgment in determining whether the features represent embedded derivatives required to be bifurcated from the carrying value of the Senior Notes, including in relation to the assessment of whether the features are closely related to the host contract (i.e., the Indenture (as defined below) governing the Senior Notes). The Corporation considers redemption features with fixed redemption prices over a series of redemption dates as a single feature for assessing whether the feature is closely related to the host contract. The Corporation also considers embedded features with the same underlying risk exposure (i.e., interest rate risk exposure) as a combined derivative instrument for measurement, presentation and disclosure. Certain features were bifurcated from the carrying value of the Senior Notes. Management used estimates, including an implied credit spread of 3.8% as at December 31, 2018, in determining the fair value of the embedded derivatives. See notes 17, 19 and 26. Functional currency The Corporation’s worldwide operations expose the Corporation to transactions denominated in a number of different currencies, which are required to be translated into one currency for consolidated financial statement reporting purposes. The Corporation’s foreign currency translation policy is designed to reflect the economic exposure of the Corporation’s operations to various currencies. The functional currencies of the Corporation’s subsidiaries are assessed on a regular basis as the operations of the Corporation evolve or as result of business combinations or expansions. The functional currency of an operation or subsidiary is the currency of the primary economic environment to which it is exposed. Following the SBG Acquisition and the Australian Acquisitions, management applied judgment in determining the functional currencies of the acquired subsidiaries and considered the impact of the acquisitions on the primary economic environment of the acquiring subsidiaries. To determine the functional currencies, management considered the currency that influences sales prices of the goods and services provided by the operations and the currency that influences the costs incurred by the operations. Where as a result of these primary factors, the functional currency was not obvious, management examined secondary factors such as the currency in which funds from financing are obtained, the currency in which cash receipts are retained and the levels of interactions with the parent company. Contingent liabilities The Corporation reviews outstanding legal cases following developments in legal proceedings at each balance sheet date, considering, among other things: the nature of the litigation, claim or assessment; the legal processes and potential level of damages in the jurisdiction in which the litigation, claim or assessment has been brought; the progress of the case (including progress after the date of the consolidated financial statements but before those statements are issued); the opinions or views of legal counsel and other advisors; experience of similar cases; and any decision of the Corporation’s management as to how it will respond to the litigation, claim or assessment. The Corporation assesses the probability of an outflow of resources to settle the obligation as well as if the outflow can be reliably measured. If these conditions are not met, no provision will be recorded and the relevant facts will be disclosed as a contingent liability. To the extent that the Corporation’s assessments at any time do not reflect subsequent developments or the eventual outcome of any claim, its future consolidated financial statements may be materially affected, with a favourable or adverse impact on the Corporation’s business, financial condition or results of operations. See note 28. |
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- Definition The description of the entity's accounting policy for business combinations. [Refer: Business combinations [member]] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The description of the entity's accounting policy for financial instruments. [Refer: Financial instruments, class [member]] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The description of the entity's accounting policy for foreign currency translation. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The description of the entity's accounting policy for goodwill. [Refer: Goodwill] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The description of the entity's accounting policy for income tax. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The description of the entity's accounting policy for intangible assets other than goodwill. [Refer: Intangible assets other than goodwill] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The description of the entity's accounting policy for investments in associates. [Refer: Associates [member]] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The description of the entity's accounting policy for leases. A lease is an agreement whereby the lessor conveys to the lessee in return for a payment or series of payments the right to use an asset for an agreed period of time. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The description of the entity's accounting policy for property, plant and equipment. [Refer: Property, plant and equipment] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The description of the entity's accounting policy for provisions. [Refer: Provisions] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The description of the entity's accounting policy for recognising revenue. [Refer: Revenue] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The description of the entity's accounting policy for research and development expense. [Refer: Research and development expense] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The description of the entity's accounting policy for restricted cash and cash equivalents. [Refer: Restricted cash and cash equivalents] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The description of the entity's accounting policy for segment reporting. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The description of the entity's accounting policy for transactions in which the entity: (a) receives goods or services from the supplier of those goods or services (including an employee) in a share-based payment arrangement; or (b) incurs an obligation to settle the transaction with the supplier in a share-based payment arrangement when another group entity receives those goods or services. [Refer: Share-based payment arrangements [member]] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The description of the entity's accounting policy for basis of accounting. No definition available.
|
X | ||||||||||
- Definition The description of the entity's accounting policy for critical accounting judgments. No definition available.
|
X | ||||||||||
- Definition The description of the entity's accounting policy for dividend equivalents. No definition available.
|
X | ||||||||||
- Definition Description of accounting policy for going concern explanatory. No definition available.
|
X | ||||||||||
- Definition The description of the entity's accounting policy for impairment of non-current assets. No definition available.
|
X | ||||||||||
- Definition The description of the entity's accounting policy for investments. No definition available.
|
X | ||||||||||
- Definition The description of the entity's accounting policy for other equity-based awards. No definition available.
|
X | ||||||||||
- Definition The description of the entity's accounting policy for prepaid expenses and deposits. No definition available.
|
X | ||||||||||
- Definition The description of the entity's accounting policy for principles of consolidation. No definition available.
|
X | ||||||||||
- Definition The description of the entity's accounting policy for sources of estimation uncertainty. No definition available.
|
X | ||||||||||
- Definition The description of the entity's accounting policy for stock options. No definition available.
|
X | ||||||||||
- Definition Disclosure of summary of significant accounting policies. No definition available.
|
Summary of Significant Accounting Policies (Tables) |
12 Months Ended | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2018 | |||||||||||||||||||
Disclosure Of Summary Of Significant Accounting Policies [Abstract] | |||||||||||||||||||
Summary of Depreciation Rates and Estimated Useful Life of the Property and Equipment | following rates, which in each case are intended to reduce the carrying value of the asset to the estimated residual value:
|
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Summary of Estimated Useful Life of the Intangible Assets |
Intangible assets which have finite lives are recorded at cost less accumulated amortization and impairment losses. Amortization is expensed from the month the particular asset is available for use, over the estimated useful life of such asset at the following rates, which in each case are intended to reduce the carrying value of the asset to the estimated residual value:
|
X | ||||||||||
- Definition The disclosure of detailed information about intangible assets. [Refer: Intangible assets other than goodwill] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The disclosure of detailed information about property, plant and equipment estimated useful life. No definition available.
|
X | ||||||||||
- Definition Disclosure of summary of significant accounting policies. No definition available.
|
Adoption of New Accounting Standards (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure Of Initial Application Of Standards Or Interpretations [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Classification of Financial Assets |
As of January 1, 2018, management assessed which business models apply to the financial assets held by the Corporation and classified those financial assets into the appropriate IFRS 9 categories as follows:
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Summary of Measurement of Financial Instruments |
The table below illustrates the result of adoption of IFRS 9 as of January 1, 2018, and the measurement impact on the respective categories of financial instruments:
|
X | ||||||||||
- Definition The disclosure of financial assets. [Refer: Financial assets] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Disclosure of measurement of financial instruments explanatory. No definition available.
|
Acquisition of Subsidiaries (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Acquired Intangible by Assets |
The following tables shows acquired intangibles by asset class:
|
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BetEasy | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Amounts Recognized in Identifiable Assets Acquired and Liabilities Assumed |
The provisional amounts recognized in respect of the identifiable assets acquired and liabilities assumed upon acquisition of BetEasy are set out in the table below:
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TSGA | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Amounts Recognized in Identifiable Assets Acquired and Liabilities Assumed |
The provisional amounts recognized in respect of the identifiable assets acquired and liabilities assumed are set out in the table below:
|
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SBG | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Amounts Recognized in Identifiable Assets Acquired and Liabilities Assumed |
The provisional amounts recognized in respect of the identifiable assets acquired and liabilities assumed are set out in the table below:
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X | ||||||||||
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
|
X | ||||||||||
- Definition The disclosure of acquired intangible by assets. No definition available.
|
X | ||||||||||
- Definition The disclosure of summary of amounts recognized in identifiable assets acquired and liabilities assumed. No definition available.
|
X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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Revenue (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Revenue [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Revenue |
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X | ||||||||||
- Definition The disclosure of information about the relationship between the disclosure of disaggregated revenue from contracts with customers and revenue information for reportable segments. [Refer: Reportable segments [member]; Revenue from contracts with customers] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- References No definition available.
|
Segmental Information (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure Of Operating Segments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Segmental Net Earnings |
Segmental net earnings for the year ended December 31, 2018:
Segmental net earnings for the year ended December 31, 2017:
* Adjusted EBITDA is used internally by the CODM when analyzing underlying segment performance.
** The Corporation has excluded from its consolidated results $2.0 million of Other revenue included in the International segment related to certain non-gaming related transactions with the United Kingdom segment. A corresponding exclusion in the consolidated results is recorded to sales and marketing expense in the United Kingdom segment. |
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Summary of Reconciliation of Adjusted EBITDA to Net Earnings (Loss) |
A reconciliation of Adjusted EBITDA to Net earnings (loss) is as follows:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Distribution of Corporation's Assets by Reporting Segment |
The distribution of the Corporation’s assets by reporting segment is as follows:
|
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Summary of Segment by Geographic Region |
The distribution of some of the Corporation’s non-current assets (goodwill, intangible assets and property and equipment) by geographic region is as follows:
|
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Summary of Segment by Customer Location | The following tables set out the proportion of revenue attributable to each gaming license or approval (as opposed to the jurisdiction where the customer was located) that either generated a minimum of 5% of total consolidated revenue for the year ended December 31, 2018 or 2017, or that the Corporation otherwise deems relevant based on its historical reporting of the same or otherwise:
* The Corporation has excluded from its consolidated results $2.0 million of Isle of Man revenue included in the International segment related to certain non-gaming related transactions with the United Kingdom segment. A corresponding exclusion in the consolidated results is recorded to sales and marketing expense in the United Kingdom segment. |
X | ||||||||||
- Definition The disclosure of geographical information. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The disclosure of operating segments. [Refer: Operating segments [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The disclosure of major customers. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Tabular disclosure of distribution of corporations assets by reporting segment. No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of reconciliation of adjusted earnings before interest taxes depreciation and amortization to net income loss. No definition available.
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Expenses Classified By Nature (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure Of Expenses Classified By Nature [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Expenses Classified By Nature |
1 See notes 5 and 26 for details regarding the recognition and measurement of the deferred contingent payment. 2 See notes 17, 19 and 26 for details regarding the recognition and measurement of the Embedded Derivative (as defined below). |
X | ||||||||||
- Definition The disclosure of expenses. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition Disclosure of expenses classified by nature. No definition available.
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Income Taxes (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure Of Income Tax Expense [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Income Tax Expense |
Details of income tax expense were as follows:
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Summary of Effective Income Tax Rate Reconciliation | The reconciliation is as follows:
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Schedule of Significant Components of the Corporation's Deferred Income Tax Asset Balance |
Significant components of the Corporation’s deferred income tax asset balance at December 31, 2018 and 2017 are as follows:
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Schedule of Significant Components of the Corporation's Deferred Income Tax Liability Balance |
Significant components of the Corporation’s deferred income tax liability balance at December 31, 2018 and 2017 are as follows:
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Schedule of Gross Temporary Differences |
Deferred tax assets have not been recognized in respect of the items shown below. The amounts shown are the gross temporary differences and to calculate the potential deferred asset it is necessary to multiply the amounts by the tax rates in each case.
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X | ||||||||||
- Definition The disclosure of types of temporary differences, unused tax losses and unused tax credits. [Refer: Unused tax credits [member]; Unused tax losses [member]; Temporary differences [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Disclosure of components of deferred income tax asset. No definition available.
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X | ||||||||||
- Definition Disclosure of components of deferred income tax liabilities. No definition available.
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X | ||||||||||
- Definition Disclosure of effective income tax rate reconciliation. No definition available.
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X | ||||||||||
- Definition Disclosure of income tax expense. No definition available.
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X | ||||||||||
- Definition Disclosure of summary of income tax expense. No definition available.
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Earnings Per Share (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Share [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Computation of Basic and Diluted Earnings Per Share |
The following table sets forth the computation of basic and diluted earnings per Common Share for the following periods:
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition The disclosure of earnings per share. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Goodwill and Intangible Assets (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Goodwill and Intangible Assets |
For the year ended December 31, 2018:
For the year ended December 31, 2017:
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Summary of Impairment Test Operations for CGU |
The Corporation performed an annual impairment test for its operations in connection with the preparation of its consolidated financial statements for the year ended December 31, 2018. Goodwill is monitored at the operating segment and this is consistent with the lowest level of CGU except as noted below.
* The United Kingdom segment includes a non-significant CGU which includes the indefinite lived brand as noted in the table above. The Corporation has not identified any impairment in relation to the indefinite lived brand. |
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Summary of Cash Flow Forecasts |
The following table shows key assumptions used in the value in use calculations:
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X | ||||||||||
- Definition The disclosure of information for cash-generating units. [Refer: Cash-generating units [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition The disclosure of the reconciliation of changes in intangible assets and goodwill. [Refer: Intangible assets and goodwill] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition The disclosure of an impairment loss recognised or reversed. [Refer: Impairment loss; Reversal of impairment loss] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Property and Equipment (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure Of Property Plant And Equipment [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Property and Equipment |
For the year ended December 31, 2018:
For the year ended December 31, 2017:
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X | ||||||||||
- Definition The disclosure of detailed information about property, plant and equipment. [Refer: Property, plant and equipment] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- References No definition available.
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Investments (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure Of Investments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Investments Held by Corporate |
The Corporation held the following investments:
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Disclosure of Corporations Investments Held by Maturity Date |
The Corporation’s investments held by maturity date are as follows:
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Summary of Recognized Gains (Losses) From Current Investments |
For the year ended December 31, 2018, the Corporation recognized gains (losses) from investments as follows:
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Schedule Significant Subsidiaries of Corporation |
As at December 31, 2018, the Corporation had the following significant subsidiaries:
|
X | ||||||||||
- Definition The disclosure of subsidiaries. [Refer: Subsidiaries [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Disclosure of corporations investments held by maturity date. No definition available.
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X | ||||||||||
- Definition Disclosure of detailed information about investments held by the Corporation. No definition available.
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X | ||||||||||
- Definition Disclosure of detailed information about recognized gain or loss from investments. No definition available.
|
X | ||||||||||
- Definition Disclosure of investments. No definition available.
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Accounts Receivable (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Trade And Other Current Receivables [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Accounts Receivable |
The Corporation’s accounts receivable balances at December 31, 2018 and December 31, 2017 consist of the following;
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X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The disclosure of accounts receivables, current. No definition available.
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Cash and Cash Equivalents, Restricted Cash Advances and Collateral (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restricted Cash Advances And Collateral [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Restricted Cash Advances and Collateral Explanatory |
Restricted cash held by the Corporation consists of the following components:
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X | ||||||||||
- Definition Restricted cash advances and collateral. No definition available.
|
X | ||||||||||
- Definition The disclosure for restricted cash advances and collateral. No definition available.
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Prepaid Expenses and Other Assets (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Prepaid Expenses And Other Assets [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Components of Prepaid Expenses and Other Assets |
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X | ||||||||||
- Definition Prepaid expenses and other assets. No definition available.
|
X | ||||||||||
- Definition Schedule of prepaid expenses and deposits. No definition available.
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Long-Term Debt (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure Of Long Term Debt [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Principal and Carrying Amount of Long-Term Debt Outstanding |
The following is a summary of long-term debt outstanding at December 31, 2018, and 2017 (all capitalized terms used in the table below relating to such long-term debt are defined below in this note):
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Disclosure of Interest Outstanding on the Long Term Debt |
During the year ended December 31, 2018, the Corporation incurred the following interest on its then-outstanding long-term debt excluding its loan payable to non-controlling interests which is non-interest bearing:
During the year ended December 31, 2017, the Corporation incurred the following interest on its then-outstanding long-term debt:
* The effective interest rate calculation excludes the impact of the debt extinguishments in respect of the April 2018 Amend and Extend and the repayment of the previous first lien term loans as well as the impact of the Swap Agreements. ** Interest accretion for the year ended December 31, 2018 includes a loss on debt extinguishment of $147.0 million included within net financing charges in respect of the amendment and extension and subsequent repayment of the Corporation’s prior first lien term loans.
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Disclosure of the Movement of the Corporation's Long-Term Debt Balance |
The Corporation’s debt balance for the year ended December 31, 2018 was as follows:
The Corporation’s debt balance for the year ended December 31, 2017 was as follows:
* Adjustments to amortized cost includes transaction costs incurred on the issuance or incurrence of each of the financial instruments and, with respect to the Senior Notes (as defined below), the bifurcation of embedded features in 2018 as described below and debt forgiveness in relation to the loan payable to non-controlling interests. In addition, unamortized deferred financing costs of $6.8 million were reclassified to prepaid expenses and other non-current assets on the consolidated statements of financial position following the repayment of $100.0 million previously drawn on the Revolving Facility. ** Interest accretion represents interest expense calculated at the effective interest rate less interest expense calculated at the contractual interest rate and is recorded in net financing charges in the consolidated statements of (loss) earnings. |
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Disclosure of Schedule of Principle Repayments of Long-Term Debt Over the Next Five Years |
As at December 31, 2018, the contractual principal repayments of the Corporation’s outstanding long-term debt over the next five years amount to the following:
|
X | ||||||||||
- Definition Disclosure of interest outstanding on the long term debt. No definition available.
|
X | ||||||||||
- Definition Disclosure of long term debt. No definition available.
|
X | ||||||||||
- Definition Disclosure of the movement of the Corporation's long-term debt balance. No definition available.
|
X | ||||||||||
- Definition Disclosure of principal and carrying amount of long-term debt outstanding. No definition available.
|
X | ||||||||||
- Definition Disclosure of schedule of principle repayments of long-term debt over the next five years. No definition available.
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Derivative and Hedge Accounting (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure Of Derivatives [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Fair Value of Derivatives |
The following table summarizes the fair value of derivatives as at December 31, 2018 and 2017:
* The unsettled bets liability is recorded in accounts payable and other liabilities on the consolidated statement of financial position as at December 31, 2017 and is recorded in derivatives on the consolidated statement of financial position as at December 31, 2018. |
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Summary of Effects of Cash flow Hedges and Net Investment Hedges |
The following tables presents the effects of cash flow hedges and net investment hedges on the Corporation’s financial position and performance.
* Hedge ineffectiveness is recorded within net financing charges on the consolidated statements of (loss) earnings. ** For cash flow hedges that address interest rate risk and/or foreign currency exchange risk, the amount reclassified from accumulated other comprehensive income (loss) to earnings is recorded within interest expense included in net financing charges or foreign exchange (gain) loss included in general and administrative expenses on the consolidated statements of (loss) earnings. |
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Summary of Reconciliation of Accumulated Other Comprehensive Income |
Reconciliation of accumulated other comprehensive income (loss):
* Net changes in other comprehensive income (loss) is recorded through the cash flow hedging reserve. See note 25. ** Net changes in other comprehensive income (loss) is recorded through the cumulative translation reserve. See note 25. |
X | ||||||||||
- Definition Disclosure of derivatives. No definition available.
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X | ||||||||||
- Definition Disclosure of effects of cash flow hedges and net investment hedges. No definition available.
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- Definition The disclosure of fair value of derivatives. No definition available.
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- Definition Disclosure of reconciliation of accumulated other comprehensive income loss. No definition available.
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Commitments (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure Of Operating Lease [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Future Minimum Lease Payments Under Non-cancellable Operating Leases |
The Corporation as lessee and other contractual commitments At December 31, 2018, the Corporation’s future minimum lease payments under non-cancellable operating leases and other obligations aggregate to $346.4 million and are payable as follows:
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Schedule Future Minimum Lease Receipts Under Non-cancellable Operating Leases |
The Corporation as lessor
At December 31, 2018, the Corporation’s future minimum lease receipts under non-cancellable operating leases aggregate to $14.8 million and are receivable as follows;
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X | ||||||||||
- Definition The disclosure of finance leases and operating leases by the lessee. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The disclosure of finance leases and operating leases by the lessor. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Disclosure of operating lease. No definition available.
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Accounts Payable And Other Liabilities (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure Of Other Payables [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Accounts Payable and other liabilities |
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- Definition The disclosure of other current liabilities. [Refer: Other current liabilities] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Disclosure of other payables. No definition available.
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Provisions (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure Of Other Provisions [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Carrying Amounts and Movements in Provisions |
The carrying amounts and the movements in the provisions during the year ended December 31, 2018 and 2017 are as follows:
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- References No definition available.
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- Definition The disclosure of other provisions. [Refer: Other provisions] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Customer Deposits (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deposits From Customers [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Customer Deposits Segregation | Customer deposits are segregated as follows:
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- References No definition available.
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- Definition The disclosure of customer deposits. No definition available.
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Share Capital (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure Of Classes Of Share Capital [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Share Capital |
The authorized share capital of the Corporation consists of an unlimited number of Common Shares, with no par value, and an unlimited number of convertible preferred shares (“Preferred Shares”), with no par value, issuable in series. As at December 31, 2018, 273,177,244 shares were issued and fully paid (December 31, 2017 - 147,947,874).
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- References No definition available.
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X | ||||||||||
- Definition The disclosure of classes of share capital. [Refer: Share capital [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reserves (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Disclosure Of Reserves Within Equity [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Class of Reserves |
The following table highlights the classes of reserves included in the Corporation’s equity:
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Schedule of Outstanding Stock Options |
The following table provides information about outstanding stock options issued under the Plans:
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Summary of Exercisable Options Per Stock Option |
A summary of exercisable options per stock option grant under the Plans is as follows:
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Summary of Weighted-Average Assumption for Stock Option Grants |
The stock options issued during the year ended December 31, 2017 were accounted for at their grant date fair value of $579,000 as determined by the Black-Scholes-Merton valuation model using the following weighted-average assumptions:
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Warrants | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure Of Reserves Within Equity [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Outstanding Other Equity Instruments Issued |
The following table provides information about outstanding warrants at December 31, 2018 and 2017:
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RSUs | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure Of Reserves Within Equity [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Outstanding Other Equity Instruments Issued |
The following table provides information about outstanding RSUs issued by the Corporation under the 2015 Equity Incentive Plan.
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PSUs and Bonus PSUs | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure Of Reserves Within Equity [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Outstanding Other Equity Instruments Issued |
The following table provides information about outstanding PSUs issued by the Corporation under the 2015 Equity Incentive Plan. In addition to the issued and outstanding PSUs, the Corporation will issue additional PSUs of up to 50% upon the achievement of market vesting conditions.
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DSUs | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure Of Reserves Within Equity [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Outstanding Other Equity Instruments Issued |
The following table provides information about outstanding DSUs issued by the Corporation under the 2015 Equity Incentive Plan.
|
X | ||||||||||
- Definition The disclosure of information about indirect, by reference to the fair value of the equity instruments granted, measurement of the fair value of goods or services received as consideration for the entity's share options. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The disclosure of the number and weighted average exercise prices of other equity instruments (ie other than share options). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The disclosure of the number and weighted average exercise prices of share options. [Refer: Weighted average [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
|
X | ||||||||||
- Definition The entire disclosure for share capital, reserves and other equity interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Schedule of share based compensation shares outstanding under stock option plans by exercise price range. No definition available.
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X | ||||||||||
- Details
|
X | ||||||||||
- Details
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X | ||||||||||
- Details
|
X | ||||||||||
- Details
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Fair Value (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Fair Values of Financial Assets and Liabilities | The following table provides information about how the fair values of these financial assets and liabilities are determined as at each of December 31, 2018 and December 31, 2017:
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Summary of Fair Value of Other Financial Assets and Liabilities Measured at Amortized Cost |
The fair values of other financial assets and liabilities measured at amortized cost on the consolidated statements of financial position as at each of December 31, 2018, and December 31, 2017 are as follows:
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Schedule of Reconciliation of Level 3 Fair Values |
The following table shows a reconciliation from opening balances to the closing balances for Level 3 fair values:
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- Definition The disclosure of the fair value of financial instruments. [Refer: Financial instruments, class [member]; At fair value [member]] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition Disclosure of fair value measurement of assets and liabilities. No definition available.
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X | ||||||||||
- Definition Disclosure of fair value of other financial assets and liabilities measured at amortized cost. No definition available.
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X | ||||||||||
- Definition Reconciliation from opening balances to the closing balances for Level 3 fair values. No definition available.
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Statements of Cash Flows (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure Of Cash Flow Statement [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Changes in Non Cash Operating Working Capital |
Changes in non-cash operating elements of working capital
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Schedule of Changes in Liabilities Arising from Financing Activities |
The table below details changes in the Corporation’s liabilities (excluding derivative instruments) arising from financing activities, including both cash and non-cash changes. Liabilities arising from financing activities are those which cash flows were, or future cash flows will be, classified in the Corporation’s consolidated statements of cash flows as net cash flows from financing activities.
* Adjusted on adoption of IFRS 9. See note 4. |
X | ||||||||||
- Definition The disclosure of the reconciliation of liabilities arising from financing activities. [Refer: Liabilities arising from financing activities] Reference 1: http://www.xbrl.org/2003/role/exampleRef
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X | ||||||||||
- Definition Disclosure of cash flow statement. No definition available.
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X | ||||||||||
- Definition Disclosure of changes in non cash operating working capital. No definition available.
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Financial Instruments Risk Management (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure Of Financial Instruments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Foreign Exchange Currency Exposure of Financial Instruments by Currency |
Foreign Exchange Risk The Corporation is subject to foreign currency exposure on its financial instruments and the translation of its subsidiaries with foreign functional currencies to USD. The Corporation primarily manages its foreign currency exposure through its hedging instruments. See note 19. As at December 31, 2018, the Corporation’s significant foreign exchange currency exposure on its financial instruments by currency was as follows (in U.S. dollar equivalents):
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Schedule of Effect on Earnings Before Tax of Exchange Rate |
The table below details the effect on equity and earnings before tax of a 10% strengthening or weakening of the USD exchange rate at the balance sheet date for balance sheet items denominated in CDN, EUR, GBP and AUD after the effect of the Corporation’s hedging activities:
The table below details the effect on equity of a 10% strengthening or weakening of the EUR:USD or the EUR:GBP exchange rates on the valuations of the Swap Agreements that hedge the USD First Lien Term Loan. 10% is the sensitivity rate used when reporting foreign currency risk internally to key management personnel and represents management’s assessment of the reasonably possible change in foreign exchange rates.
The table below details the effect on earnings before tax of a 100 basis points strengthening or weakening of the LIBOR and EURIBOR interest rates on these loans after the effect of the Corporation’s hedging activities. 100 basis points sensitivity is the sensitivity rate used when reporting interest rate risk internally to key management personnel and represents management’s assessment of the reasonably possible change in interest rates:
The table below details the effect on equity of a 100 basis points strengthening or weakening of the LIBOR and EURIBOR interest rates on the valuations of the Swap Agreements that hedge the USD First Lien Term Loan. 100 basis points is the sensitivity rate used when reporting interest rate risk internally to key management personnel and represents management’s assessment of the reasonably possible change in interest rates:
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Schedule of Age of Receivables |
Age of receivables that are past due but not impaired:
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Schedule of Age of Impaired Trade Receivables |
Age of impaired trade receivables:
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Schedule of Information about Terms of Financial Obligations and Liabilities |
The following table provides information about the terms of the Corporation’s financial obligations and liabilities:
* Excludes VAT and other taxes as well as the interest accrual on Senior Notes, which are all included in accounts payable and other liabilities on the statements of financial position ** Includes principal and interest, including the interest accrual on Senior Notes
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X | ||||||||||
- Definition Analysis of the age of financial assets that are past due but not impaired. [Refer: Financial assets] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Analysis of financial assets that are individually determined to be impaired, including the factors that the entity considered when determining that they are impaired. [Refer: Financial assets] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The disclosure of detailed information about financial instruments. [Refer: Financial instruments, class [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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X | ||||||||||
- Definition Schedule of effect on earnings before tax of United States dollar exchange rate at balance sheet date explanatory. No definition available.
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X | ||||||||||
- Definition Schedule of information about terms of financial obligations and liabilities. No definition available.
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Related Party Transactions (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure Of Transactions Between Related Parties [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Compensation to Key Management Members |
The compensation of such key management for the years ended December 31, 2018 and 2017 included the following:
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition The disclosure of transactions between the entity and its related parties. [Refer: Related parties [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Nature of Business - Additional Information (Details) |
12 Months Ended | |||
---|---|---|---|---|
Dec. 31, 2018
Operation
Segment
|
Dec. 31, 2017
Segment
|
Jul. 10, 2018 |
Apr. 24, 2018 |
|
Nature Of Business [Line Items] | ||||
Number of reportable segment | Segment | 3 | 3 | ||
Number of major lines of operations | Operation | 4 | |||
Date of incorporation | Jan. 30, 2004 | |||
Stars Interactive Group | ||||
Nature Of Business [Line Items] | ||||
Date of acquisition | August 2014 | |||
SBG | ||||
Nature Of Business [Line Items] | ||||
Date of acquisition | July 2018 | |||
Percentage of equity interests acquired | 100.00% | |||
TSGA | ||||
Nature Of Business [Line Items] | ||||
Date of acquisition | April 2018 | |||
Percentage of equity interests acquired | 100.00% | |||
Australian Acquisition | ||||
Nature Of Business [Line Items] | ||||
Percentage of equity interests acquired | 80.00% |
X | ||||||||||
- Definition Date when an entity was incorporated No definition available.
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X | ||||||||||
- Definition The percentage of voting equity interests acquired in a business combination. [Refer: Business combinations [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Date of acquisition. No definition available.
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X | ||||||||||
- Definition Nature of business. No definition available.
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X | ||||||||||
- Definition Number of lines of operations. No definition available.
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X | ||||||||||
- Definition Number of reportable segment. No definition available.
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X | ||||||||||
- Details
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- Details
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- Details
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Summary of Significant Accounting Policies - Additional Information (Details) $ in Millions |
12 Months Ended | ||||||
---|---|---|---|---|---|---|---|
Dec. 31, 2018
USD ($)
EquityBasedAwardPlan
|
Dec. 31, 2018
AUD ($)
|
Dec. 31, 2017
USD ($)
|
Dec. 21, 2018 |
Apr. 25, 2018 |
Apr. 24, 2018 |
Feb. 27, 2018 |
|
Disclosure Of Summary Of Significant Accounting Policies [Line Items] | |||||||
Gaming Duty | $ 130,800,000 | ||||||
Processor cost | 69,500,000 | ||||||
Royalties | 30,200,000 | ||||||
Affiliates cost | 8,100,000 | ||||||
Foreign exchange loss | 2,800,000 | ||||||
Bank charges | 900,000 | ||||||
Gain on investment in equity instruments | 33,600,000 | ||||||
Investment income | $ 2,592,000 | 900,000 | |||||
Prepaid expenses and deposits current | 29,400,000 | ||||||
Current inventories | 300,000 | ||||||
Prepaid expenses and deposits | 16,500,000 | ||||||
Long term investments | 7,000,000 | ||||||
Investment tax credits receivable | 2,483,000 | 3,056,000 | |||||
Accounts payable and accrued liabilities | 151,500,000 | ||||||
Other payables | $ 42,700,000 | ||||||
Impairment loss, recognized | $ 0 | ||||||
Number of equity based award plans | EquityBasedAwardPlan | 2 | ||||||
Description of vesting requirements for share-based payment arrangement | Generally, the RSUs vest in equal annual installments over a three or four-year period (graded vesting method), and subject to continued employment through each vesting date | Generally, the RSUs vest in equal annual installments over a three or four-year period (graded vesting method), and subject to continued employment through each vesting date | |||||
Implied credit spread | 3.80% | ||||||
Brands | |||||||
Disclosure Of Summary Of Significant Accounting Policies [Line Items] | |||||||
Useful lives for amortisation of intangible assets | Indefinite useful life | Indefinite useful life | |||||
BetEasy | |||||||
Disclosure Of Summary Of Significant Accounting Policies [Line Items] | |||||||
Percentage of equity interests acquired | 18.00% | 80.00% | 18.00% | 62.00% | |||
Payment to accrue business | $ 239 | ||||||
Deferred contingent payment period credit risk | 10.50% | 10.50% | |||||
Volatility rate | 25.00% | 25.00% | |||||
Performance Share Units | |||||||
Disclosure Of Summary Of Significant Accounting Policies [Line Items] | |||||||
Description of vesting requirements for share-based payment arrangement | Generally, the PSUs vest on the third anniversary of the date of the grant (cliff vesting), and based on a weighted mix of revenue and Adjusted EBITDA targets of the Corporation for the applicable three-year performance period as well as the individual remaining employed by, or continuing to provide services to, the Corporation. | Generally, the PSUs vest on the third anniversary of the date of the grant (cliff vesting), and based on a weighted mix of revenue and Adjusted EBITDA targets of the Corporation for the applicable three-year performance period as well as the individual remaining employed by, or continuing to provide services to, the Corporation. | |||||
Performance period | 3 years | 3 years | |||||
Maximum eligible percentage for additional PSUs of PSUs granted subject to conditions | 50.00% | 50.00% | |||||
Minimum | |||||||
Disclosure Of Summary Of Significant Accounting Policies [Line Items] | |||||||
Vesting period | 3 years | 3 years | |||||
Discount rates | 7.00% | ||||||
Attrition rates | 3.00% | ||||||
Useful lives for amortisation of intangible assets | 5 | 5 | |||||
Minimum | Technology [Member] | |||||||
Disclosure Of Summary Of Significant Accounting Policies [Line Items] | |||||||
Royalty rate | 5.00% | 5.00% | |||||
Minimum | Brands | |||||||
Disclosure Of Summary Of Significant Accounting Policies [Line Items] | |||||||
Royalty rate | 2.50% | 2.50% | |||||
Maximum | |||||||
Disclosure Of Summary Of Significant Accounting Policies [Line Items] | |||||||
Vesting period | 4 years | 4 years | |||||
Discount rates | 10.00% | ||||||
Attrition rates | 10.00% | ||||||
Useful lives for amortisation of intangible assets | 7 | 7 | |||||
Maximum | Technology [Member] | |||||||
Disclosure Of Summary Of Significant Accounting Policies [Line Items] | |||||||
Royalty rate | 10.00% | 10.00% | |||||
Maximum | Brands | |||||||
Disclosure Of Summary Of Significant Accounting Policies [Line Items] | |||||||
Royalty rate | 5.00% | 5.00% |
X | ||||||||||
- Definition The discount rate used as the significant actuarial assumption to determine the present value of a defined benefit obligation. [Refer: Defined benefit obligation, at present value; Actuarial assumptions [member]] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition The amount of bank and similar charges recognised by the entity as an expense. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition The description of the vesting requirements for a type of share-based payment arrangement that existed at any time during the period. An entity with substantially similar types of share-based payment arrangements may aggregate this information. [Refer: Share-based payment arrangements [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition The gain on the disposal of investments. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition The amount of expense relating to general and administrative activities of the entity. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition The amount recognised as a reduction of the carrying amount of an asset or cash-generating unit to its recoverable amount. [Refer: Carrying amount [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of current inventories. [Refer: Inventories] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition The amount of investment income, such as interest and dividends. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Expiry date 2019-01-01: The amount of property (land or a building - or part of a building - or both) held (by the owner or by the lessee under a finance lease) to earn rentals or for capital appreciation or both, rather than for: (a) use in the production or supply of goods or services or for administrative purposes; or (b) sale in the ordinary course of business. Effective 2019-01-01: The amount of property (land or a building - or part of a building - or both) held (by the owner or by the lessee as a right-of-use asset) to earn rentals or for capital appreciation or both, rather than for: (a) use in the production or supply of goods or services or for administrative purposes; or (b) sale in the ordinary course of business. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition The net loss arising from foreign exchange differences. [Refer: Foreign exchange gain (loss)] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition The amount of current payables that the entity does not separately disclose in the same statement or note. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition The percentage of voting equity interests acquired in a business combination. [Refer: Business combinations [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition The amount of expense arising from royalties. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition The amount of expense arising from services. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition The amount of current trade payables and current other payables. [Refer: Current trade payables; Other current payables] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The useful lives or amortisation rates used for intangible assets other than goodwill. [Refer: Intangible assets other than goodwill] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Affiliates cost. No definition available.
|
X | ||||||||||
- Definition Contingent payment period credit risk. No definition available.
|
X | ||||||||||
- Definition Counter Party volatility rate. No definition available.
|
X | ||||||||||
- Definition Disclosure of summary of significant accounting policies. No definition available.
|
X | ||||||||||
- Definition Discount rate to determine fair value. No definition available.
|
X | ||||||||||
- Definition Estimated implied spread used in determining fair value of embedded derivative. No definition available.
|
X | ||||||||||
- Definition Investment tax credits receivable . No definition available.
|
X | ||||||||||
- Definition Maximum eligible percentage for additional PSUs of PSUs granted subject to conditions. No definition available.
|
X | ||||||||||
- Definition Number of equity-based award plan. No definition available.
|
X | ||||||||||
- Definition Payment to acquire interest. No definition available.
|
X | ||||||||||
- Definition Performance period No definition available.
|
X | ||||||||||
- Definition Prepaid expenses and deposits. No definition available.
|
X | ||||||||||
- Definition Current prepaid expenses and deposits. No definition available.
|
X | ||||||||||
- Definition Royalty rate. No definition available.
|
X | ||||||||||
- Definition Share based compensation arrangement by share based payment award award vesting period. No definition available.
|
X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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- Details
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Summary of Significant Accounting Policies - Summary of Depreciation Rates and Estimated Useful Life of the Property and Equipment (Details) |
12 Months Ended |
---|---|
Dec. 31, 2018 | |
Furniture and Fixtures | |
Disclosure Of Summary Of Significant Accounting Policies [Line Items] | |
Depreciation method | Straight-line |
Depreciation percentage or useful lives | 4-10 years |
Computer Equipment | |
Disclosure Of Summary Of Significant Accounting Policies [Line Items] | |
Depreciation method | Straight-line |
Depreciation percentage or useful lives | 2-5 years |
Building | |
Disclosure Of Summary Of Significant Accounting Policies [Line Items] | |
Depreciation method | Straight-line |
Depreciation percentage or useful lives | 25 years |
X | ||||||||||
- Definition The depreciation method used for property, plant and equipment. [Refer: Property, plant and equipment] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The useful lives or depreciation rates used for property, plant and equipment. [Refer: Property, plant and equipment] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Disclosure of summary of significant accounting policies. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Summary of Significant Accounting Policies - Summary of Estimated Useful Life of the Intangible Assets (Details) |
12 Months Ended |
---|---|
Dec. 31, 2018 | |
Software Technology (Including Deferred Development Costs) | |
Disclosure Of Summary Of Significant Accounting Policies [Line Items] | |
Amortisation method of intangible assets | Straight-line |
Useful lives for amortisation of intangible assets | 5 years |
Software Technology (Defensive Intangible Asset) | |
Disclosure Of Summary Of Significant Accounting Policies [Line Items] | |
Amortisation method of intangible assets | Straight-line |
Useful lives for amortisation of intangible assets | 2 years |
Customer Relationships | |
Disclosure Of Summary Of Significant Accounting Policies [Line Items] | |
Amortisation method of intangible assets | Straight-line |
Useful lives for amortisation of intangible assets | 15 years |
Brands (Licensed) | |
Disclosure Of Summary Of Significant Accounting Policies [Line Items] | |
Amortisation method of intangible assets | Straight-line |
Useful lives for amortisation of intangible assets | 22 years |
Brands | |
Disclosure Of Summary Of Significant Accounting Policies [Line Items] | |
Amortisation method of intangible assets | N/A |
Useful lives for amortisation of intangible assets | Indefinite useful life |
Other Intangibles | |
Disclosure Of Summary Of Significant Accounting Policies [Line Items] | |
Amortisation method of intangible assets | Straight-line |
Useful lives for amortisation of intangible assets | 4-10 years |
X | ||||||||||
- Definition The amortisation method used for intangible assets other than goodwill with finite useful lives. [Refer: Intangible assets other than goodwill; Depreciation and amortisation expense] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The useful lives or amortisation rates used for intangible assets other than goodwill. [Refer: Intangible assets other than goodwill] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Disclosure of summary of significant accounting policies. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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Recent Accounting Pronouncements - Additional Information (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2017 |
Dec. 31, 2018 |
|
Disclosure Of Changes In Accounting Estimates [Line Items] | |||
Processor cost | $ 69.5 | ||
Minimum | |||
Disclosure Of Changes In Accounting Estimates [Line Items] | |||
Right-of-use asset | $ 54.0 | ||
Lease liability | 57.0 | ||
Minimum | Subsequent Event | |||
Disclosure Of Changes In Accounting Estimates [Line Items] | |||
Rental expense | $ 14.0 | ||
Depreciation expense | 12.5 | ||
Processor cost | 1.5 | ||
Maximum | |||
Disclosure Of Changes In Accounting Estimates [Line Items] | |||
Right-of-use asset | 58.0 | ||
Lease liability | $ 61.0 | ||
Maximum | Subsequent Event | |||
Disclosure Of Changes In Accounting Estimates [Line Items] | |||
Rental expense | 16.0 | ||
Depreciation expense | 14.5 | ||
Processor cost | $ 2.5 |
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- Definition The amount of depreciation expense. Depreciation is the systematic allocation of depreciable amounts of tangible assets over their useful lives. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of expense relating to general and administrative activities of the entity. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of liabilities related to the entity's leases. Lease is a contract, or part of a contract, that conveys the right to use an underlying asset for a period of time in exchange for consideration. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of expense recognised on rental activities. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of assets that represent a lessee's right to use an underlying asset for the lease term. Underlying asset is an asset that is the subject of a lease, for which the right to use that asset has been provided by a lessor to a lessee. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Adoption of New Accounting Standards - Classification of Financial Assets To Appropriate IFRS 9 (Details) $ in Thousands |
Dec. 31, 2018
USD ($)
|
---|---|
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
Financial assets | $ 129,650 |
IFRS 9 | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
Financial assets | 129,650 |
Available-for-sale | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
Financial assets | 129,650 |
Available-for-sale | Bonds | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
Financial assets | (115,343) |
Available-for-sale | Funds | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
Financial assets | (7,045) |
Available-for-sale | Equity in Unquoted Companies | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
Financial assets | (6,981) |
Available-for-sale | Equity in Quoted Companies | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
Financial assets | (281) |
FVTPL | IFRS 9 | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
Financial assets | 14,307 |
FVTPL | Funds | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
Financial assets | 7,045 |
FVTPL | Equity in Unquoted Companies | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
Financial assets | 6,981 |
FVTPL | Equity in Quoted Companies | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
Financial assets | 281 |
FVOCI | IFRS 9 | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
Financial assets | 115,343 |
FVOCI | Bonds | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
Financial assets | $ 115,343 |
X | ||||||||||
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
|
X | ||||||||||
- Definition The amount of assets that are: (a) cash; (b) an equity instrument of another entity; (c) a contractual right: (i) to receive cash or another financial asset from another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially favourable to the entity; or (d) a contract that will, or may be, settled in the entity’s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to receive a variable number of the entity’s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity’s own equity instruments. For this purpose the entity’s own equity instruments do not include puttable financial instruments classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity’s own equity instruments. [Refer: Financial instruments, class [member]; Financial liabilities] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Adoption of New Accounting Standards - Measurement Impact on Financial Instruments (Details) $ in Thousands |
12 Months Ended |
---|---|
Dec. 31, 2018
USD ($)
| |
Adjustment to Opening Retained Earnings | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
Carrying amount | $ (43,694) |
IAS 39 | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
Carrying amount | (1,552,674) |
Restated for IFRS 9 | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
Carrying amount | (1,508,767) |
Bonds | Adjustment to Opening Retained Earnings | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
Carrying amount | $ 213 |
Bonds | IAS 39 | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
Measurement Category | Available-for-sale |
Carrying amount | $ 115,343 |
Bonds | Restated for IFRS 9 | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
Measurement Category | FVOCI |
Carrying amount | $ 115,343 |
Funds | IAS 39 | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
Measurement Category | Available-for-sale |
Carrying amount | $ 7,045 |
Funds | Restated for IFRS 9 | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
Measurement Category | FVTPL |
Carrying amount | $ 7,045 |
Equity in Unquoted Companies | Adjustment to Opening Retained Earnings | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
Carrying amount | $ (1,786) |
Equity in Unquoted Companies | IAS 39 | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
Measurement Category | Available-for-sale |
Carrying amount | $ 6,981 |
Equity in Unquoted Companies | Restated for IFRS 9 | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
Measurement Category | FVTPL |
Carrying amount | $ 8,767 |
Equity in Quoted Companies | IAS 39 | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
Measurement Category | Available-for-sale |
Carrying amount | $ 281 |
Equity in Quoted Companies | Restated for IFRS 9 | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
Measurement Category | FVTPL |
Carrying amount | $ 281 |
Trade receivables [member] | Adjustment to Opening Retained Earnings | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
Carrying amount | $ 792 |
Trade receivables [member] | IAS 39 | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
Measurement Category | Loans and receivables |
Carrying amount | $ 112,227 |
Trade receivables [member] | Restated for IFRS 9 | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
Measurement Category | Amortized cost |
Carrying amount | $ 111,435 |
Cash and Restricted Cash | Adjustment to Opening Retained Earnings | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
Carrying amount | $ 981 |
Cash and Restricted Cash | IAS 39 | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
Measurement Category | Loans and receivables |
Carrying amount | $ 564,018 |
Cash and Restricted Cash | Restated for IFRS 9 | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
Measurement Category | Amortized cost |
Carrying amount | $ 563,037 |
Long-term Debt | Adjustment to Opening Retained Earnings | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
Carrying amount | $ (43,894) |
Long-term Debt | IAS 39 | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
Measurement Category | Amortized cost |
Carrying amount | $ (2,358,569) |
Long-term Debt | Restated for IFRS 9 | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | |
Measurement Category | Amortized cost |
Carrying amount | $ (2,314,675) |
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- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
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Acquisition of Subsidiaries - Additional Information (Details) $ in Millions |
1 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jul. 10, 2018
USD ($)
|
Apr. 24, 2018
USD ($)
|
Feb. 27, 2018
USD ($)
|
Feb. 28, 2019
USD ($)
|
Sep. 30, 2018
USD ($)
|
Dec. 31, 2018
USD ($)
|
Dec. 31, 2017
USD ($)
|
Apr. 25, 2018 |
Apr. 24, 2018
AUD ($)
|
Feb. 27, 2018
AUD ($)
|
||||||
Disclosure Of Business Combinations [Line Items] | |||||||||||||||
Amount recognized as deferred tax asset | $ 10,937,000 | ||||||||||||||
Acquisition related costs | 54,209,000 | ||||||||||||||
Long-term debt | 5,411,208,000 | $ 2,353,579,000 | [1] | ||||||||||||
Revenue | 2,029,238,000 | 1,312,315,000 | [2] | ||||||||||||
Net (loss) earnings | (108,906,000) | $ 259,285,000 | [2] | ||||||||||||
Other Temporary Differences | |||||||||||||||
Disclosure Of Business Combinations [Line Items] | |||||||||||||||
Amount recognized as deferred tax asset | $ 9,921,000 | ||||||||||||||
BetEasy | |||||||||||||||
Disclosure Of Business Combinations [Line Items] | |||||||||||||||
Percentage of equity interests acquired | 18.00% | 62.00% | 18.00% | 80.00% | 18.00% | 62.00% | |||||||||
Total consideration | $ 229,200,000 | $ 117,707,000 | |||||||||||||
Put option deed expiration date | Feb. 28, 2019 | ||||||||||||||
Percentage of equity interest | 18.00% | ||||||||||||||
Cash consideration | $ 48,200,000 | $ 63.2 | |||||||||||||
Newly issued common shares consideration | 96,400,000 | $ 96,400,000 | |||||||||||||
Deferred contingent payment | 84,600,000 | $ 111.0 | |||||||||||||
Fair value of this non-controlling interest | $ (956,000) | ||||||||||||||
Fair value of acquired receivables | 4,700,000 | ||||||||||||||
Gross contractual value | 7,800,000 | ||||||||||||||
Best estimate at the acquisition date of the contractual cash flows not to be collected | 3,100,000 | ||||||||||||||
Amount recognized as deferred tax liability | 19,400,000 | $ 19,444,000 | |||||||||||||
deferred tax liability related to acquired intangible assets | 26,100,000 | ||||||||||||||
Contribution of revenue related to acquisition | 196,900,000 | ||||||||||||||
Contribution of loss related to acquisition | 16,700,000 | ||||||||||||||
BetEasy | Other Temporary Differences | |||||||||||||||
Disclosure Of Business Combinations [Line Items] | |||||||||||||||
Amount recognized as deferred tax asset | $ 6,700,000 | ||||||||||||||
BetEasy | Put-call option | |||||||||||||||
Disclosure Of Business Combinations [Line Items] | |||||||||||||||
Percentage of equity interest | 20.00% | ||||||||||||||
Fair value of this non-controlling interest | $ 0 | ||||||||||||||
BetEasy | Subsequent Event | |||||||||||||||
Disclosure Of Business Combinations [Line Items] | |||||||||||||||
Percentage of equity interests acquired | 62.00% | 62.00% | |||||||||||||
Put option value derecognized in general and administrative | $ 600,000 | ||||||||||||||
BetEasy | Put Option Deed | |||||||||||||||
Disclosure Of Business Combinations [Line Items] | |||||||||||||||
Total consideration | $ 117,700,000 | $ 150.0 | |||||||||||||
TSGA | |||||||||||||||
Disclosure Of Business Combinations [Line Items] | |||||||||||||||
Percentage of equity interests acquired | 100.00% | 100.00% | |||||||||||||
Total consideration | $ 241,202,000 | ||||||||||||||
Fair value of acquired receivables | 16,700,000 | ||||||||||||||
Gross contractual value | 33,100,000 | ||||||||||||||
Best estimate at the acquisition date of the contractual cash flows not to be collected | 16,400,000 | ||||||||||||||
Amount recognized as deferred tax liability | 76,600,000 | ||||||||||||||
deferred tax liability related to acquired intangible assets | 79,000,000 | ||||||||||||||
Acquisition related costs | 11,500,000 | ||||||||||||||
Reduction of amounts recognized as non-controling interest | $ 31,700,000 | ||||||||||||||
TSGA | Other Temporary Differences | |||||||||||||||
Disclosure Of Business Combinations [Line Items] | |||||||||||||||
Amount recognized as deferred tax liability | 400,000 | ||||||||||||||
Amount recognized as deferred tax asset | $ 2,800,000 | ||||||||||||||
TSGA | Subsequent Event | |||||||||||||||
Disclosure Of Business Combinations [Line Items] | |||||||||||||||
Percentage of equity interests acquired | 100.00% | 100.00% | |||||||||||||
SBG | |||||||||||||||
Disclosure Of Business Combinations [Line Items] | |||||||||||||||
Percentage of equity interests acquired | 100.00% | ||||||||||||||
Total consideration | $ 3,239,795,000 | ||||||||||||||
Newly issued common shares consideration | 1,380,000,000 | ||||||||||||||
Fair value of acquired receivables | 2,900,000 | ||||||||||||||
Gross contractual value | 3,000,000 | ||||||||||||||
Best estimate at the acquisition date of the contractual cash flows not to be collected | 100,000 | ||||||||||||||
Amount recognized as deferred tax liability | 514,278,000 | ||||||||||||||
Amount recognized as deferred tax asset | 1,000,000 | ||||||||||||||
Acquisition related costs | 42,800,000 | ||||||||||||||
Contribution of revenue related to acquisition | 394,100,000 | ||||||||||||||
Contribution of loss related to acquisition | 121,900,000 | ||||||||||||||
Long-term debt | 1,080,000,000 | ||||||||||||||
Shareholders loans payable | 663,400,000 | ||||||||||||||
Aggregate fair value | (5,000,000) | ||||||||||||||
Amount recognized as deferred tax liability | 515,700,000 | ||||||||||||||
SBG | Cross-currency Swap and Interest Rate Swap | |||||||||||||||
Disclosure Of Business Combinations [Line Items] | |||||||||||||||
Preferred shares | 10,900,000 | ||||||||||||||
Settlement for cash payment | 1,000,000 | ||||||||||||||
SBG | Marketing, Technology and IT Contracts | |||||||||||||||
Disclosure Of Business Combinations [Line Items] | |||||||||||||||
Future financial commitments | 110,200,000 | ||||||||||||||
SBG | Other Temporary Differences | |||||||||||||||
Disclosure Of Business Combinations [Line Items] | |||||||||||||||
Amount recognized as deferred tax asset | $ 400,000 | ||||||||||||||
Other | |||||||||||||||
Disclosure Of Business Combinations [Line Items] | |||||||||||||||
Total consideration | $ 2,600,000 | ||||||||||||||
Percentage of equity interest | 100.00% | ||||||||||||||
Cash consideration | $ 1,000,000 | ||||||||||||||
Deferred consideration | 1,600,000 | ||||||||||||||
Outstanding deferred consideration | 300,000 | ||||||||||||||
Revenue | 2,600,000,000 | ||||||||||||||
Net (loss) earnings | $ (188,000,000) | ||||||||||||||
Other | Equity Interest | |||||||||||||||
Disclosure Of Business Combinations [Line Items] | |||||||||||||||
Number of Subsidiaries | two | ||||||||||||||
|
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- Definition The fair value, at acquisition date, of the consideration transferred in a business combination. [Refer: Business combinations [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The best estimate at acquisition date of contractual cash flows not expected to be collected for receivables acquired in business combinations. [Refer: Business combinations [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The fair value, at acquisition date, of cash transferred as consideration in a business combination. [Refer: Business combinations [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount recognised as of the acquisition date for contingent consideration arrangements assumed and indemnification assets acquired in a business combination. [Refer: Business combinations [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount recognised as of the acquisition date for deferred tax assets acquired in a business combination. [Refer: Deferred tax assets; Business combinations [member]] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount recognised as of the acquisition date for deferred tax liabilities assumed in a business combination. [Refer: Deferred tax liabilities; Business combinations [member]] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
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- Definition The fair value, at the acquisition date, of equity interests of the acquirer transferred as consideration in a business combination. [Refer: Business combinations [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The fair value of receivables acquired in a business combination. [Refer: Business combinations [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition The gross contractual amounts receivable for receivables acquired in business combinations. [Refer: Business combinations [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The fair value, at acquisition date, of liabilities incurred (for example, a liability for contingent consideration) as consideration transferred in a business combination. [Refer: Business combinations [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The non-current portion of non-current borrowings. [Refer: Borrowings] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The amount of non-controlling interest in the acquiree recognised at the acquisition date for business combinations in which the acquirer holds less than 100 per cent of the equity interests in the acquiree at the acquisition date. [Refer: Business combinations [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The percentage of voting equity interests acquired in a business combination. [Refer: Business combinations [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition The total of income less expenses, excluding the components of other comprehensive income. [Refer: Other comprehensive income] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The proportion of ownership interests in a subsidiary held by non-controlling interests. [Refer: Subsidiaries [member]; Non-controlling interests] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The income arising in the course of an entity's ordinary activities. Income is increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in an increase in equity, other than those relating to contributions from equity participants. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The decrease in goodwill resulting from the subsequent recognition of deferred tax assets during the measurement period for a business combination. [Refer: Goodwill; Deferred tax assets; Business combinations [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Acquisition related costs. No definition available.
|
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- Definition Aggregate fair value. No definition available.
|
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- Definition Contribution of loss related to acquisition. No definition available.
|
X | ||||||||||
- Definition Contribution of revenue related to acquisition. No definition available.
|
X | ||||||||||
- Definition Future financial commitments. No definition available.
|
X | ||||||||||
- Definition The gross amount recognised as of the acquisition date for deferred tax liabilities assumed in a business combination. [Refer: Deferred tax liabilities; Business combinations [member]] No definition available.
|
X | ||||||||||
- Definition Number of subsidiaries. No definition available.
|
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- Definition Outstanding deferred consideration. No definition available.
|
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- Definition Preferred shares value. No definition available.
|
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- Definition Put option deed expiration date. No definition available.
|
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- Definition Put option derecognized as expense. No definition available.
|
X | ||||||||||
- Definition Reduction of amounts recognized as non-controling interest. No definition available.
|
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- Definition Settlement for cash payment. No definition available.
|
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- Definition Shareholders loans payable. No definition available.
|
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Acquisition of Subsidiaries - Summary of Amounts Recognized in Identifiable Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands |
Dec. 31, 2018 |
Jul. 10, 2018 |
Apr. 24, 2018 |
Feb. 27, 2018 |
Dec. 31, 2017 |
[1] | ||
---|---|---|---|---|---|---|---|---|
Disclosure Of Business Combinations [Line Items] | ||||||||
Identifiable intangible assets (note 11) | $ 3,413,705 | |||||||
Goodwill | 5,265,980 | $ 2,805,210 | ||||||
BetEasy | ||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||
Financial assets | $ 29,062 | |||||||
Property and equipment | 6,079 | |||||||
Identifiable intangible assets (note 11) | 102,406 | 102,406 | ||||||
Financial liabilities | (59,327) | |||||||
Deferred tax liability | $ (19,400) | (19,444) | ||||||
Total identifiable assets | 58,776 | |||||||
Fair value of this non-controlling interest | (956) | |||||||
Goodwill | 59,887 | |||||||
Total consideration | 229,200 | 117,707 | ||||||
Cash consideration: | ||||||||
Cash | 117,707 | |||||||
Less: Cash and cash equivalent balances acquired | (17,003) | |||||||
Net cash outflow arising on acquisition | 100,704 | |||||||
Cash | 117,707 | |||||||
Less: Cash and cash equivalent balances acquired | (17,003) | |||||||
Net cash outflow arising on acquisition | $ 100,704 | |||||||
TSGA | ||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||
Financial assets | 41,142 | |||||||
Property and equipment | 2,048 | |||||||
Identifiable intangible assets (note 11) | 267,346 | 267,346 | ||||||
Financial liabilities | (71,024) | |||||||
Deferred tax liability | (76,600) | |||||||
Total identifiable assets | 162,912 | |||||||
Goodwill | 78,290 | |||||||
Total consideration | 241,202 | |||||||
Cash consideration: | ||||||||
Cash | 241,202 | |||||||
Less: Cash and cash equivalent balances acquired | (32,352) | |||||||
Net cash outflow arising on acquisition | 208,850 | |||||||
Cash | 241,202 | |||||||
Less: Cash and cash equivalent balances acquired | (32,352) | |||||||
Net cash outflow arising on acquisition | $ 208,850 | |||||||
SBG | ||||||||
Disclosure Of Business Combinations [Line Items] | ||||||||
Financial assets | $ 416,359 | |||||||
Property and equipment | 18,086 | |||||||
Identifiable intangible assets (note 11) | $ 3,043,953 | 3,043,953 | ||||||
Deferred tax liability | (514,278) | |||||||
Total identifiable assets | 808,695 | |||||||
Goodwill | 2,431,100 | |||||||
Total consideration | 3,239,795 | |||||||
Non-cash consideration: | ||||||||
Common Shares Issued | 1,381,044 | |||||||
Cash consideration: | ||||||||
Cash | 1,858,751 | |||||||
Less: Cash and cash equivalent balances acquired | (304,053) | |||||||
Net cash outflow arising on acquisition | 1,554,698 | |||||||
Total consideration, net of cash acquired | 2,935,742 | |||||||
Cash | 1,858,751 | |||||||
Less: Cash and cash equivalent balances acquired | (304,053) | |||||||
Net cash outflow arising on acquisition | 1,554,698 | |||||||
Other financial liabilities | (394,177) | |||||||
Derivatives | (5,031) | |||||||
Shareholder loans | (663,407) | |||||||
Long-term debt | (1,080,478) | |||||||
Preferred shares | (10,879) | |||||||
Other non-current liabilities | $ (1,453) | |||||||
|
X | ||||||||||
- Definition The fair value, at acquisition date, of the consideration transferred in a business combination. [Refer: Business combinations [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The amount recognised as of the acquisition date for borrowings assumed in a business combination. [Refer: Borrowings; Business combinations [member]] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The amount recognised as of the acquisition date for cash and cash equivalents acquired in a business combination. [Refer: Cash and cash equivalents; Business combinations [member]] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The amount recognised as of the acquisition date for deferred tax liabilities assumed in a business combination. [Refer: Deferred tax liabilities; Business combinations [member]] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
|
X | ||||||||||
- Definition The amount recognised as of the acquisition date for financial assets acquired in a business combination. [Refer: Financial assets; Business combinations [member]] Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- Definition The amount recognised as of the acquisition date for financial liabilities assumed in a business combination. [Refer: Financial liabilities; Business combinations [member]] Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- Definition The amount of assets representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognised. [Refer: Business combinations [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount recognised as of the acquisition date for net identifiable assets acquired or liabilities assumed in a business combination. [Refer: Business combinations [member]] Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- Definition The amount recognised as of the acquisition date for identifiable intangible assets acquired in a business combination. [Refer: Intangible assets other than goodwill; Business combinations [member]] Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- Definition The amount of non-controlling interest in the acquiree recognised at the acquisition date for business combinations in which the acquirer holds less than 100 per cent of the equity interests in the acquiree at the acquisition date. [Refer: Business combinations [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount recognised as of the acquisition date for plant, property and equipment acquired in a business combination. [Refer: Property, plant and equipment; Business combinations [member]] Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- Definition Acquisition date fair value of total consideration net of cash acquired. No definition available.
|
X | ||||||||||
- Definition Cash recognized as of acquisition date. No definition available.
|
X | ||||||||||
- Definition Common shares issued recognised as non-cash consideration as of acquisition date. No definition available.
|
X | ||||||||||
- Definition Derivative liabilities recognized as of acquisition date. No definition available.
|
X | ||||||||||
- Definition Net cash outflow arising on acquisition. No definition available.
|
X | ||||||||||
- Definition Non-cash consideration. No definition available.
|
X | ||||||||||
- Definition Other financial liabilities recognized as of acquisition date. No definition available.
|
X | ||||||||||
- Definition Other non-current liabilities recognised as of acquisition date. No definition available.
|
X | ||||||||||
- Definition Preferred shares recognised as of acquisition date. No definition available.
|
X | ||||||||||
- Definition Shareholder loan recognised as of acquisition date. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Acquisition of Subsidiaries - Summary of Acquired Intangible by Assets (Details) - USD ($) $ in Thousands |
Dec. 31, 2018 |
Jul. 10, 2018 |
Apr. 24, 2018 |
Feb. 27, 2018 |
---|---|---|---|---|
Disclosure Of Business Combinations [Line Items] | ||||
Acquired intangibles by asset | $ 3,413,705 | |||
BetEasy | ||||
Disclosure Of Business Combinations [Line Items] | ||||
Acquired intangibles by asset | 102,406 | $ 102,406 | ||
TSGA | ||||
Disclosure Of Business Combinations [Line Items] | ||||
Acquired intangibles by asset | 267,346 | $ 267,346 | ||
SBG | ||||
Disclosure Of Business Combinations [Line Items] | ||||
Acquired intangibles by asset | 3,043,953 | $ 3,043,953 | ||
Software Technology Acquired Through Business Combinations | ||||
Disclosure Of Business Combinations [Line Items] | ||||
Acquired intangibles by asset | 300,825 | |||
Software Technology Acquired Through Business Combinations | BetEasy | ||||
Disclosure Of Business Combinations [Line Items] | ||||
Acquired intangibles by asset | 34,684 | |||
Software Technology Acquired Through Business Combinations | TSGA | ||||
Disclosure Of Business Combinations [Line Items] | ||||
Acquired intangibles by asset | 1,432 | |||
Software Technology Acquired Through Business Combinations | SBG | ||||
Disclosure Of Business Combinations [Line Items] | ||||
Acquired intangibles by asset | 264,709 | |||
Other Intangibles | ||||
Disclosure Of Business Combinations [Line Items] | ||||
Acquired intangibles by asset | 46,668 | |||
Other Intangibles | BetEasy | ||||
Disclosure Of Business Combinations [Line Items] | ||||
Acquired intangibles by asset | 10,908 | |||
Other Intangibles | TSGA | ||||
Disclosure Of Business Combinations [Line Items] | ||||
Acquired intangibles by asset | 22,094 | |||
Other Intangibles | SBG | ||||
Disclosure Of Business Combinations [Line Items] | ||||
Acquired intangibles by asset | 13,666 | |||
Customer Relationships | ||||
Disclosure Of Business Combinations [Line Items] | ||||
Acquired intangibles by asset | 2,533,869 | |||
Customer Relationships | BetEasy | ||||
Disclosure Of Business Combinations [Line Items] | ||||
Acquired intangibles by asset | 56,814 | |||
Customer Relationships | TSGA | ||||
Disclosure Of Business Combinations [Line Items] | ||||
Acquired intangibles by asset | 243,820 | |||
Customer Relationships | SBG | ||||
Disclosure Of Business Combinations [Line Items] | ||||
Acquired intangibles by asset | 2,233,235 | |||
Brands | ||||
Disclosure Of Business Combinations [Line Items] | ||||
Acquired intangibles by asset | 22,447 | |||
Brands | SBG | ||||
Disclosure Of Business Combinations [Line Items] | ||||
Acquired intangibles by asset | 22,447 | |||
Brands (Licensed) | ||||
Disclosure Of Business Combinations [Line Items] | ||||
Acquired intangibles by asset | 509,896 | |||
Brands (Licensed) | SBG | ||||
Disclosure Of Business Combinations [Line Items] | ||||
Acquired intangibles by asset | $ 509,896 |
X | ||||||||||
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
|
X | ||||||||||
- Definition The amount recognised as of the acquisition date for identifiable intangible assets acquired in a business combination. [Refer: Intangible assets other than goodwill; Business combinations [member]] Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
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X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
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X | ||||||||||
- Details
|
Revenue - Schedule of Revenue (Details) - USD ($) $ in Thousands |
12 Months Ended | ||||
---|---|---|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
||||
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |||||
Betting revenue | $ 491,139 | $ 49,231 | |||
Other sources of revenue | 3,277 | 16,852 | |||
Total revenue | 2,029,238 | 1,312,315 | [1] | ||
Poker | |||||
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |||||
Revenue from customers in scope of IFRS 15 | 892,557 | 877,296 | |||
Gaming | |||||
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |||||
Revenue from customers in scope of IFRS 15 | 585,846 | 334,781 | |||
Other | |||||
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | |||||
Revenue from customers in scope of IFRS 15 | $ 56,419 | $ 34,155 | |||
|
X | ||||||||||
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
|
X | ||||||||||
- Definition The amount of revenue arising from sources that the entity does not separately disclose in the same statement or note. [Refer: Revenue] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The income arising in the course of an entity's ordinary activities. Income is increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in an increase in equity, other than those relating to contributions from equity participants. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount of revenue from contracts with customers. A customer is a party that has contracted with an entity to obtain goods or services that are an output of the entity’s ordinary activities in exchange for consideration. [Refer: Revenue] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Betting revenue. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Revenue - Additional Information (Details) $ in Thousands |
Dec. 31, 2018
USD ($)
|
---|---|
Revenue [Abstract] | |
Contract assets | $ 0 |
Contract liabilities | 0 |
Unsatisfied Performance Obligation | $ 0 |
X | ||||||||||
- Definition The amount of an entity’s right to consideration in exchange for goods or services that the entity has transferred to a customer, when that right is conditioned on something other than the passage of time (for example, the entity’s future performance). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount of an entity’s obligation to transfer goods or services to a customer for which the entity has received consideration (or the amount is due) from the customer. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Unsatisfied performance obligation. No definition available.
|
Segmental Information - Additional Information (Details) - Segment |
12 Months Ended | |
---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
|
Disclosure Of Operating Segments [Abstract] | ||
Number of reportable segment | 3 | 3 |
Minimum | ||
Disclosure Of Operating Segments [Line Items] | ||
Percentage consolidated revenue generated | 5.00% | 5.00% |
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
|
X | ||||||||||
- Definition The percentage of the entity's revenue. [Refer: Revenue] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Number of reportable segment. No definition available.
|
X | ||||||||||
- Details
|
Segmental Information - Summary of Segmental Net Earnings (Details) - USD ($) $ in Thousands |
12 Months Ended | ||||
---|---|---|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | $ 2,029,238 | $ 1,312,315 | [1] | ||
Adjusted EBITDA | 780,949 | 600,306 | |||
Net financing charges | 363,884 | 158,332 | |||
Depreciation and amortization | 282,806 | 147,186 | |||
Operating Segments | International | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 1,440,177 | 1,312,315 | |||
Adjusted EBITDA | 700,887 | 636,404 | |||
Depreciation and amortization | 144,304 | 147,027 | |||
Capital expenditures | 81,189 | 35,939 | |||
Operating Segments | United Kingdom | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 394,131 | ||||
Adjusted EBITDA | 99,960 | ||||
Depreciation and amortization | 108,879 | ||||
Capital expenditures | 18,971 | ||||
Operating Segments | Australia | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 196,930 | ||||
Adjusted EBITDA | 21,072 | ||||
Depreciation and amortization | 29,476 | ||||
Capital expenditures | 12,386 | ||||
Operating Segments | Poker | International | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 886,628 | 877,296 | |||
Operating Segments | Poker | United Kingdom | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 5,929 | ||||
Operating Segments | Gaming | International | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 428,364 | 334,781 | |||
Operating Segments | Gaming | United Kingdom | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 157,482 | ||||
Operating Segments | Betting | International | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 79,117 | 49,231 | |||
Operating Segments | Betting | United Kingdom | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 215,921 | ||||
Operating Segments | Betting | Australia | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 196,101 | ||||
Operating Segments | Other | International | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 46,068 | 51,007 | |||
Operating Segments | Other | United Kingdom | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 14,799 | ||||
Operating Segments | Other | Australia | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 829 | ||||
Corporate | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Adjusted EBITDA | (40,970) | (36,098) | |||
Net financing charges | 363,884 | 158,332 | |||
Depreciation and amortization | 147 | 159 | |||
Capital expenditures | 1,182 | 163 | |||
Intercompany Eliminations | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | (2,000) | ||||
Intercompany Eliminations | Other | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | (2,000) | ||||
Consolidated | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 2,029,238 | 1,312,315 | |||
Adjusted EBITDA | 780,949 | 600,306 | |||
Net financing charges | 363,884 | 158,332 | |||
Depreciation and amortization | 282,806 | 147,186 | |||
Capital expenditures | 113,728 | 36,102 | |||
Consolidated | Poker | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 892,557 | 877,296 | |||
Consolidated | Gaming | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 585,846 | 334,781 | |||
Consolidated | Betting | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 491,139 | 49,231 | |||
Consolidated | Other | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | $ 59,696 | $ 51,007 | |||
|
X | ||||||||||
- Definition The amount of depreciation and amortisation expense. Depreciation and amortisation are the systematic allocations of depreciable amounts of assets over their useful lives. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
|
X | ||||||||||
- Definition The income arising in the course of an entity's ordinary activities. Income is increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in an increase in equity, other than those relating to contributions from equity participants. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Adjusted ebitda. No definition available.
|
X | ||||||||||
- Definition Capital expenditures. No definition available.
|
X | ||||||||||
- Definition Net financing charges. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
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X | ||||||||||
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X | ||||||||||
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X | ||||||||||
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
|
Segmental Information - Summary of Segmental Net Earnings (Parenthetical) (Details) - USD ($) $ in Thousands |
12 Months Ended | |
---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
|
Disclosure Of Operating Segments [Line Items] | ||
Other sources of revenue | $ 3,277 | $ 16,852 |
UNITED KINGDOM | ||
Disclosure Of Operating Segments [Line Items] | ||
Other sources of revenue | $ 2,000 |
X | ||||||||||
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
|
X | ||||||||||
- Definition The amount of revenue arising from sources that the entity does not separately disclose in the same statement or note. [Refer: Revenue] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Details
|
Segmental Information - Summary of Reconciliation of Adjusted EBITDA to Net Earnings (Loss) (Details) - USD ($) $ in Thousands |
12 Months Ended | |
---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
|
Disclosure Of Operating Segments [Abstract] | ||
Adjusted EBITDA | $ 780,949 | $ 600,306 |
Acquisition-related costs and deal contingent forwards | (115,569) | |
Stock-based compensation | (12,806) | (10,622) |
(Loss) gain from investments and associates | (1,667) | 33,598 |
(Impairment) reversal of intangibles assets and assets held for sale | (6,223) | 6,799 |
Other costs | (108,956) | (35,501) |
Total adjusting items | (245,221) | (5,726) |
Depreciation and amortization | (282,806) | (147,186) |
Operating income | 252,922 | 447,394 |
Net financing charges | (363,884) | (158,332) |
Net earnings (loss) from associates | 1,068 | (2,569) |
(Loss) earnings before income taxes | (109,894) | 286,493 |
Income tax recovery (expense) | 988 | (27,208) |
Net (loss) earnings | $ (108,906) | $ 259,285 |
X | ||||||||||
- Definition The amount of acquisition-related costs for transactions recognised separately from the acquisition of assets and the assumption of liabilities in business combinations. [Refer: Business combinations [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Adjustments for gain (loss) on disposals investments in subsidiaries, joint ventures and associates to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Associates [member]; Joint ventures [member]; Subsidiaries [member]; Investments in subsidiaries, joint ventures and associates; Profit (loss)] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Adjustments for impairment loss (reversal of impairment loss) recognised in profit or loss to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Impairment loss (reversal of impairment loss) recognised in profit or loss] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Adjustments for undistributed profits of associates to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Associates [member]; Profit (loss)] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The amount of depreciation and amortisation expense. Depreciation and amortisation are the systematic allocations of depreciable amounts of assets over their useful lives. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The amount of expense from share-based payment transactions with employees. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The amount of operating lease income. Operating lease is a lease that does not transfer substantially all the risks and rewards incidental to ownership of an underlying asset. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The profit (loss) before tax of discontinued operations. [Refer: Discontinued operations [member]; Profit (loss)] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Adjusted ebitda. No definition available.
|
X | ||||||||||
- Definition Adjustments to adjusted earnings before interest taxes depreciation depletion and amortization to earnings. No definition available.
|
X | ||||||||||
- Definition Income tax recovery (expense). No definition available.
|
X | ||||||||||
- Definition Net financing charges. No definition available.
|
X | ||||||||||
- Definition Net loss earnings. No definition available.
|
X | ||||||||||
- Definition Other costs. No definition available.
|
Segmental Information - Summary of Distribution of Corporation's Assets by Reporting Segment (Details) - USD ($) $ in Thousands |
12 Months Ended | |
---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
|
Disclosure Of Operating Segments [Line Items] | ||
Distribution corporation's assets | $ 11,265,538 | $ 5,415,126 |
Corporate | ||
Disclosure Of Operating Segments [Line Items] | ||
Distribution corporation's assets | 76,508 | 16,734 |
International | ||
Disclosure Of Operating Segments [Line Items] | ||
Distribution corporation's assets | 5,248,115 | $ 5,398,392 |
UNITED KINGDOM | ||
Disclosure Of Operating Segments [Line Items] | ||
Distribution corporation's assets | 5,430,110 | |
Australia | ||
Disclosure Of Operating Segments [Line Items] | ||
Distribution corporation's assets | $ 510,805 |
X | ||||||||||
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
|
X | ||||||||||
- Definition Distribution of noncash net assets in connection with reporting segment. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Segmental Information - Summary of Segment by Geographic Region (Details) - USD ($) $ in Thousands |
Dec. 31, 2018 |
Dec. 31, 2017 |
---|---|---|
Disclosure Of Operating Segments [Line Items] | ||
Goodwill, intangible assets and property and equipment | $ 10,093,848 | $ 4,522,187 |
Canada | ||
Disclosure Of Operating Segments [Line Items] | ||
Goodwill, intangible assets and property and equipment | 66,830 | 53,394 |
Isle of Man | ||
Disclosure Of Operating Segments [Line Items] | ||
Goodwill, intangible assets and property and equipment | 4,346,599 | 4,446,503 |
Italy | ||
Disclosure Of Operating Segments [Line Items] | ||
Goodwill, intangible assets and property and equipment | 30 | 35 |
Australia | ||
Disclosure Of Operating Segments [Line Items] | ||
Goodwill, intangible assets and property and equipment | 456,422 | |
UNITED KINGDOM | ||
Disclosure Of Operating Segments [Line Items] | ||
Goodwill, intangible assets and property and equipment | 5,191,994 | 6,511 |
Other Licensed Or Approved Jurisdictions | ||
Disclosure Of Operating Segments [Line Items] | ||
Goodwill, intangible assets and property and equipment | $ 31,973 | $ 15,744 |
X | ||||||||||
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
|
X | ||||||||||
- Definition Property plant and equipment, intangible assets and goodwill. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
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Segmental Information - Summary of Segment by Customer Location (Details) - USD ($) $ in Thousands |
12 Months Ended | ||||
---|---|---|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | $ 2,029,238 | $ 1,312,315 | [1] | ||
Operating Segments | International | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 1,440,177 | 1,312,315 | |||
Operating Segments | United Kingdom | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 394,131 | ||||
Operating Segments | Australia | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 196,930 | ||||
Intercompany Eliminations | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | (2,000) | ||||
Isle of Man | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 375,702 | 378,714 | |||
Isle of Man | Operating Segments | International | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 377,702 | 378,714 | |||
Isle of Man | Intercompany Eliminations | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | (2,000) | ||||
Malta | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 497,126 | 434,845 | |||
Malta | Operating Segments | International | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 497,126 | 434,845 | |||
Italy | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 158,090 | 134,965 | |||
Italy | Operating Segments | International | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 156,946 | 134,965 | |||
Italy | Operating Segments | United Kingdom | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 1,144 | ||||
UNITED KINGDOM | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 462,390 | 71,553 | |||
UNITED KINGDOM | Operating Segments | International | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 73,969 | 71,553 | |||
UNITED KINGDOM | Operating Segments | United Kingdom | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 388,421 | ||||
Spain | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 121,862 | 83,423 | |||
Spain | Operating Segments | International | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 121,776 | 83,423 | |||
Spain | Operating Segments | United Kingdom | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 86 | ||||
Australia | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 197,120 | ||||
Australia | Operating Segments | United Kingdom | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 190 | ||||
Australia | Operating Segments | Australia | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 196,930 | ||||
Other Licensed Or Approved Jurisdictions | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 216,948 | 147,683 | |||
Other Licensed Or Approved Jurisdictions | Operating Segments | International | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 212,658 | 147,683 | |||
Other Licensed Or Approved Jurisdictions | Operating Segments | United Kingdom | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | $ 4,290 | ||||
France | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 61,132 | ||||
France | Operating Segments | International | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | $ 61,132 | ||||
|
X | ||||||||||
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
|
X | ||||||||||
- Definition The income arising in the course of an entity's ordinary activities. Income is increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in an increase in equity, other than those relating to contributions from equity participants. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Segmental Information - Summary of Segment by Customer Location (Parenthetical) (Details) - USD ($) $ in Thousands |
12 Months Ended | ||||
---|---|---|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | $ (2,029,238) | $ (1,312,315) | [1] | ||
Intercompany Eliminations | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | 2,000 | ||||
Isle of Man | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | (375,702) | $ (378,714) | |||
Isle of Man | Intercompany Eliminations | |||||
Disclosure Of Operating Segments [Line Items] | |||||
Revenue | $ 2,000 | ||||
|
X | ||||||||||
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
|
X | ||||||||||
- Definition The income arising in the course of an entity's ordinary activities. Income is increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in an increase in equity, other than those relating to contributions from equity participants. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
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Expenses Classified By Nature - Expenses Classified By Nature (Details) - USD ($) $ in Thousands |
12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
|||||||||
Cost of revenue (excluding depreciation and amortization) | ||||||||||
Direct selling costs | $ 99,642 | $ 38,421 | ||||||||
Gaming duty, levies and fees | 268,857 | 137,953 | ||||||||
Processor and other operating costs | 90,665 | 71,123 | ||||||||
Cost of revenues | 459,164 | 247,497 | ||||||||
General and administrative | ||||||||||
Salaries and wages | 285,234 | 179,929 | ||||||||
Legal and professional fees | 84,288 | 69,499 | ||||||||
Impairment (reversal of impairment) of property and equipment, intangible assets and assets held for sale (note 11) | 6,156 | (6,799) | ||||||||
Loss (gain) on disposal of investments and other assets | 1,992 | (32,999) | ||||||||
Acquisition related costs | 54,209 | |||||||||
Acquisition of market access rights in connection with Eldorado | 20,661 | |||||||||
Foreign exchange (gain) loss | 68,406 | 2,838 | ||||||||
IT and software costs | 74,334 | 20,599 | ||||||||
Other operational costs | 106,108 | 57,633 | ||||||||
Depreciation and amortization | 282,806 | 147,186 | ||||||||
General and administrative | 984,194 | 437,886 | ||||||||
Net financing charges | ||||||||||
Interest on long-term debt | 186,720 | 109,624 | ||||||||
Re-measurement of deferred contingent payment | [1] | (342) | ||||||||
Re-measurement of Embedded Derivatives | [2] | 6,100 | ||||||||
Ineffectiveness on cash flow hedges | (14,909) | |||||||||
Accretion expense | 42,431 | 40,793 | ||||||||
Loss on debt extinguishment | 146,950 | |||||||||
Interest income | (3,066) | 1,056 | ||||||||
Interest on deferred purchase price | 6,859 | |||||||||
Net financing charges | $ 363,884 | $ 158,332 | [3] | |||||||
|
X | ||||||||||
- Definition The amount of depreciation and amortisation expense. Depreciation and amortisation are the systematic allocations of depreciable amounts of assets over their useful lives. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount of costs associated with financing activities of the entity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount of exchange differences recognised in profit or loss that arise from foreign currency transactions, excluding those arising on financial instruments measured at fair value through profit or loss in accordance with IFRS 9. [Refer: At fair value [member]; Financial instruments, class [member]] Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- Definition The gains (losses) on the ineffective portion of cash flow hedges recognised in profit or loss. [Refer: Cash flow hedges [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount of impairment loss or reversal of impairment loss recognised in profit or loss. [Refer: Impairment loss recognised in profit or loss; Reversal of impairment loss recognised in profit or loss] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount of interest expense on debt instruments issued. [Refer: Interest expense; Debt instruments issued] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The amount of income or expense arising from interest. [Refer: Interest expense; Interest income] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount of fees paid or payable for professional services. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The amount of expense relating to selling activities of the entity. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition A class of employee benefits expense that represents wages and salaries. [Refer: Employee benefits expense] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Accretion expenses. No definition available.
|
X | ||||||||||
- Definition Acquisition of market access rights. No definition available.
|
X | ||||||||||
- Definition Acquisition related costs. No definition available.
|
X | ||||||||||
- Definition Cost of revenues. No definition available.
|
X | ||||||||||
- Definition Cost of revenues (excluding depreciation and amortization). No definition available.
|
X | ||||||||||
- Definition Gain loss on debt extinguishment. No definition available.
|
X | ||||||||||
- Definition Gaming duty levies and fees. No definition available.
|
X | ||||||||||
- Definition The amount of expense relating to General and administrative costs. No definition available.
|
X | ||||||||||
- Definition IT and software costs. No definition available.
|
X | ||||||||||
- Definition Interest on deferred purchase price. No definition available.
|
X | ||||||||||
- Definition Losses gain on disposals of investments and other assets. No definition available.
|
X | ||||||||||
- Definition Net financing charges. No definition available.
|
X | ||||||||||
- Definition Other operational cost. No definition available.
|
X | ||||||||||
- Definition Processor and other operating costs. No definition available.
|
X | ||||||||||
- Definition Re-measurement of deferred contingent payment. No definition available.
|
X | ||||||||||
- Definition Re-measurement of embedded derivatives. No definition available.
|
Expenses Classified By Nature - Additional Information (Details) - USD ($) $ in Millions |
12 Months Ended | |
---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
|
Expenses Classified By Nature [Line Items] | ||
Insurance indemnification proceeds | $ 8.0 | $ 2.9 |
Employer contributions included in salaries and wages | $ 9.2 | |
Stars Interactive Group | Belgium | ||
Expenses Classified By Nature [Line Items] | ||
Indemnification proceeds for gaming duty, professional fees and income taxes | 5.8 | |
Refund of taxes and penalties | $ 2.9 |
X | ||||||||||
- Definition The amount of employer contributions to retirement benefit plans. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Expenses classified by nature. No definition available.
|
X | ||||||||||
- Definition Income taxes and penalties refund. No definition available.
|
X | ||||||||||
- Definition Indemnification proceeds for gaming duty, professional fees and income taxes. No definition available.
|
X | ||||||||||
- Definition Proceeds from insurance indemnification. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Income Taxes - Summary of Income Tax Expense (Details) - USD ($) $ in Thousands |
12 Months Ended | ||||
---|---|---|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
||||
Disclosure Of Summary Of Income Tax Expense [Abstract] | |||||
Current income tax expense | $ 19,813 | $ 9,391 | |||
Current income tax expense (recovery) - provision true up | (2,155) | 21,923 | |||
Deferred income tax recovery relating to the origination and reversal of temporary differences | (17,971) | (3,568) | |||
Deferred income tax (recovery) expense - provision true up | (675) | (538) | |||
Income tax (recovery) expense | $ (988) | $ 27,208 | [1] | ||
|
X | ||||||||||
- Definition Adjustments of tax expense (income) recognised in the period for current tax of prior periods. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- Definition Adjustments of tax expense (income) recognised in the period for the deferred tax of prior periods. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The amount of income taxes payable (recoverable) in respect of the taxable profit (tax loss) for a period. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- Definition The amount of deferred tax expense or income relating to the creation or reversal of temporary differences. [Refer: Temporary differences [member]; Deferred tax expense (income)] Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- Definition The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax that relate to continuing operations. [Refer: Continuing operations [member]; Current tax expense (income); Deferred tax expense (income)] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Disclosure of summary of income tax expense. No definition available.
|
Income Taxes - Additional Information (Details) - USD ($) |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
|
Disclosure Of Deferred Income Taxes [Line Items] | |||
Applicable tax rate | 26.50% | 26.70% | |
Effective tax rate | 0.90% | 9.50% | |
Income tax recovery on the amortization expense of acquired intangible assets | $ 27,300,000 | ||
Tax provision | 24,200,000 | 26,500,000 | |
Unrecognized deferred tax assets | $ 14,249,000 | 4,806,000 | $ 1,140,000 |
Tax Losses Carry Forward First Year of Expiration | 2023 | ||
Tax Loss Carryforwards Maximum Period | 9 years | ||
Tax losses carried forward subject to expiration during first year | $ 401,500,000 | ||
Deferred tax liabilities for unremitted earnings | 1,870,000,000 | 1,130,000,000 | |
Canadian Non Capital Tax Losses | |||
Disclosure Of Deferred Income Taxes [Line Items] | |||
Unrecognized deferred tax assets | $ 129,200,000 | 100,200,000 | |
Expiry term on non capital loss applied against earnings | 20 years | ||
Tax Losses Carry Forward First Year of Expiration | 2034 | ||
Carry forward tax losses | $ 13,900,000 | ||
Foreign subsidiary non capital losses [Member] | |||
Disclosure Of Deferred Income Taxes [Line Items] | |||
Unrecognized deferred tax assets | 1,490,000 | 1,190,000 | |
Carried Forward for up to 9 years [Member] | |||
Disclosure Of Deferred Income Taxes [Line Items] | |||
Unrecognized deferred tax assets | $ 1,440,000 | $ 1,170,000 | |
Ontario [Member] | |||
Disclosure Of Deferred Income Taxes [Line Items] | |||
Applicable tax rate | 11.50% | ||
Quebec [Member] | |||
Disclosure Of Deferred Income Taxes [Line Items] | |||
Applicable tax rate | 11.70% | ||
Canada [Member] | |||
Disclosure Of Deferred Income Taxes [Line Items] | |||
Change in statutory tax rate | 0.20% |
X | ||||||||||
- Definition The applicable income tax rate. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The tax expense (income) divided by the accounting profit. [Refer: Accounting profit] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amounts of income taxes recoverable in future periods in respect of: (a) deductible temporary differences; (b) the carryforward of unused tax losses; and (c) the carryforward of unused tax credits. [Refer: Temporary differences [member]; Unused tax credits [member]; Unused tax losses [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Carry forward tax losses. No definition available.
|
X | ||||||||||
- Definition The applicable income tax rate. No definition available.
|
X | ||||||||||
- Definition Deferred tax assets expiry term of non capital loss applicable against earnings. No definition available.
|
X | ||||||||||
- Definition Deferred tax liabilities recognised for unremitted earnings. No definition available.
|
X | ||||||||||
- Definition Disclosure of deferred income taxes. No definition available.
|
X | ||||||||||
- Definition Income tax recovery on amortization expense of acquired intangible assets. No definition available.
|
X | ||||||||||
- Definition Provision for tax. No definition available.
|
X | ||||||||||
- Definition Tax loss carryforwards, maximum period. No definition available.
|
X | ||||||||||
- Definition Tax losses carry forward, first year of expiration. No definition available.
|
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- Definition Tax losses carried forward that will expire in first year. No definition available.
|
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Income Taxes - Summary of Reconciliation of Income Tax Expense (Details) - USD ($) $ in Thousands |
12 Months Ended | ||||
---|---|---|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
||||
Reconciliation Of Average Effective Tax Rate And Applicable Tax Rate [Abstract] | |||||
Net (loss) earnings before income taxes | $ (109,894) | $ 286,493 | |||
Applicable tax rate | 26.50% | 26.70% | |||
Income taxes at Canadian statutory tax rate | $ (29,122) | $ 76,494 | |||
Non-taxable income | (9,030) | (143) | |||
Non-deductible expenses | 34,815 | 3,590 | |||
Differences in effective income tax rates in foreign jurisdictions | (97,919) | (117,153) | |||
Deferred tax assets not recognized | 103,098 | 43,035 | |||
Provision true up | (2,830) | 21,385 | |||
Income tax (recovery) expense | $ (988) | $ 27,208 | [1] | ||
|
X | ||||||||||
- Definition The amount of profit (loss) for a period before deducting tax expense. [Refer: Profit (loss)] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The applicable income tax rate. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax that relate to continuing operations. [Refer: Continuing operations [member]; Current tax expense (income); Deferred tax expense (income)] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The amount that represents the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to expenses not deductible in determining taxable profit (tax loss). [Refer: Accounting profit] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount that represents the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to foreign tax rates. [Refer: Accounting profit] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount that represents the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to revenues that are exempt from taxation. [Refer: Accounting profit] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The product of the accounting profit multiplied by the applicable tax rate(s). [Refer: Accounting profit; Applicable tax rate] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Tax effect of deferred tax assets not recognized. No definition available.
|
X | ||||||||||
- Definition Tax effect of provision true up. No definition available.
|
Income Taxes - Summary of Significant Components of Deferred Income Tax Asset (Details) - USD ($) $ in Thousands |
12 Months Ended | |
---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
|
Disclosure Of Deferred Income Taxes [Line Items] | ||
Beginning balance | $ 4,806 | $ 1,140 |
Credited / (charged) to net earnings | 84 | 3,679 |
Credited to other comprehensive income | 53 | 146 |
Credited directly to equity - share-based payment transactions | (359) | 359 |
Acquisition of subsidiary | 10,937 | |
Foreign exchange on translation | (1,272) | (14) |
Ending balance | 14,249 | 4,806 |
Reclassifications | (504) | |
Previously Stated | ||
Disclosure Of Deferred Income Taxes [Line Items] | ||
Beginning balance | 5,310 | |
Ending balance | 5,310 | |
Property, plant and equipment [member] | ||
Disclosure Of Deferred Income Taxes [Line Items] | ||
Beginning balance | 148 | 25 |
Credited / (charged) to net earnings | 41 | 131 |
Acquisition of subsidiary | 1,016 | |
Foreign exchange on translation | (61) | |
Ending balance | 1,144 | 148 |
Reclassifications | (8) | |
Property, plant and equipment [member] | Previously Stated | ||
Disclosure Of Deferred Income Taxes [Line Items] | ||
Beginning balance | 156 | |
Ending balance | 156 | |
Tax Losses | ||
Disclosure Of Deferred Income Taxes [Line Items] | ||
Beginning balance | 174 | 139 |
Credited / (charged) to net earnings | 1,051 | 170 |
Foreign exchange on translation | (34) | (1) |
Ending balance | 1,191 | 174 |
Reclassifications | (134) | |
Tax Losses | Previously Stated | ||
Disclosure Of Deferred Income Taxes [Line Items] | ||
Beginning balance | 308 | |
Ending balance | 308 | |
Other | ||
Disclosure Of Deferred Income Taxes [Line Items] | ||
Beginning balance | 4,484 | 976 |
Credited / (charged) to net earnings | (1,008) | 3,378 |
Credited to other comprehensive income | 53 | 146 |
Credited directly to equity - share-based payment transactions | (359) | 359 |
Acquisition of subsidiary | 9,921 | |
Foreign exchange on translation | (1,177) | (13) |
Ending balance | 11,914 | 4,484 |
Reclassifications | (362) | |
Other | Previously Stated | ||
Disclosure Of Deferred Income Taxes [Line Items] | ||
Beginning balance | $ 4,846 | |
Ending balance | $ 4,846 |
X | ||||||||||
- Definition The amounts of income taxes recoverable in future periods in respect of: (a) deductible temporary differences; (b) the carryforward of unused tax losses; and (c) the carryforward of unused tax credits. [Refer: Temporary differences [member]; Unused tax credits [member]; Unused tax losses [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount recognised as of the acquisition date for deferred tax assets acquired in a business combination. [Refer: Deferred tax assets; Business combinations [member]] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Deferred tax assets expense income recognised in profit or loss. No definition available.
|
X | ||||||||||
- Definition Deferred tax assets reclassifications. No definition available.
|
X | ||||||||||
- Definition Deferred tax assets relating to components of other comprehensive income. No definition available.
|
X | ||||||||||
- Definition Deferred tax assets relating to foreign exchange on translation. No definition available.
|
X | ||||||||||
- Definition Deferred tax assets relating to items charged or credited directly to equity. No definition available.
|
X | ||||||||||
- Definition Disclosure of deferred income taxes. No definition available.
|
X | ||||||||||
- Details
|
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|
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|
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|
Income Taxes - Summary of Significant Components of Deferred Income Tax Liability (Details) - USD ($) $ in Thousands |
12 Months Ended | |
---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
|
Disclosure Of Deferred Income Taxes [Line Items] | ||
Beginning balance | $ (16,175) | $ (17,300) |
Credited / (charged) to net earnings | 14,930 | 426 |
Credited to other comprehensive income | 14 | |
Acquisition of subsidiary | (621,261) | (72) |
Foreign exchange on translation | 29,335 | 253 |
Ending balance | (593,171) | (16,175) |
Reclassifications | 504 | |
Previously Stated | ||
Disclosure Of Deferred Income Taxes [Line Items] | ||
Beginning balance | (16,679) | |
Ending balance | (16,679) | |
Property, plant and equipment [member] | ||
Disclosure Of Deferred Income Taxes [Line Items] | ||
Beginning balance | (45) | |
Credited / (charged) to net earnings | (82) | |
Foreign exchange on translation | 6 | |
Ending balance | (121) | (45) |
Reclassifications | (45) | |
Intangibles | ||
Disclosure Of Deferred Income Taxes [Line Items] | ||
Beginning balance | (16,130) | (17,300) |
Credited / (charged) to net earnings | 15,525 | 426 |
Credited to other comprehensive income | 14 | |
Acquisition of subsidiary | (620,796) | (72) |
Foreign exchange on translation | 29,278 | 253 |
Ending balance | (592,123) | (16,130) |
Reclassifications | 549 | |
Intangibles | Previously Stated | ||
Disclosure Of Deferred Income Taxes [Line Items] | ||
Beginning balance | (16,679) | |
Ending balance | $ (16,679) | |
Other | ||
Disclosure Of Deferred Income Taxes [Line Items] | ||
Credited / (charged) to net earnings | (513) | |
Acquisition of subsidiary | (465) | |
Foreign exchange on translation | 51 | |
Ending balance | $ (927) |
X | ||||||||||
- Definition The amounts of income taxes payable in future periods in respect of taxable temporary differences. [Refer: Temporary differences [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Deferred tax liabilities expense income recognised in profit or loss. No definition available.
|
X | ||||||||||
- Definition Deferred tax liabilities reclassifications. No definition available.
|
X | ||||||||||
- Definition Deferred tax liabilities recognised through acquisition date. No definition available.
|
X | ||||||||||
- Definition Deferred tax liabilities relating to components of other comprehensive income. No definition available.
|
X | ||||||||||
- Definition Deferred tax liabilities relating to foreign exchange on translation. No definition available.
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X | ||||||||||
- Definition Disclosure of deferred income taxes. No definition available.
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Income Taxes - Schedule of Gross Temporary Differences (Details) - USD ($) $ in Thousands |
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
---|---|---|---|
Disclosure Of Temporary Difference Unused Tax Losses And Other Temporary Differences [Line Items] | |||
Unrecognized deferred tax assets | $ 14,249 | $ 4,806 | $ 1,140 |
Tax Losses | |||
Disclosure Of Temporary Difference Unused Tax Losses And Other Temporary Differences [Line Items] | |||
Unrecognized deferred tax assets | 1,191 | 174 | 139 |
Other | |||
Disclosure Of Temporary Difference Unused Tax Losses And Other Temporary Differences [Line Items] | |||
Unrecognized deferred tax assets | 11,914 | 4,484 | $ 976 |
Unrecognized Deferred Tax Assets | |||
Disclosure Of Temporary Difference Unused Tax Losses And Other Temporary Differences [Line Items] | |||
Unrecognized deferred tax assets | 1,702,516 | 1,313,413 | |
Unrecognized Deferred Tax Assets | Tax Losses | |||
Disclosure Of Temporary Difference Unused Tax Losses And Other Temporary Differences [Line Items] | |||
Unrecognized deferred tax assets | 1,619,702 | 1,293,846 | |
Unrecognized Deferred Tax Assets | Other | |||
Disclosure Of Temporary Difference Unused Tax Losses And Other Temporary Differences [Line Items] | |||
Unrecognized deferred tax assets | $ 82,814 | $ 19,567 |
X | ||||||||||
- Definition The amounts of income taxes recoverable in future periods in respect of: (a) deductible temporary differences; (b) the carryforward of unused tax losses; and (c) the carryforward of unused tax credits. [Refer: Temporary differences [member]; Unused tax credits [member]; Unused tax losses [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Disclosure of temporary difference unused tax losses and other temporary differences. No definition available.
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Earnings Per Share - Schedule of Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands |
12 Months Ended | ||||
---|---|---|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
||||
Numerator | |||||
Numerator for basic and diluted earnings per Common Share - net earnings (loss) attributable to shareholders of The Stars Group Inc. | $ (102,452,000) | $ 259,231,000 | |||
Denominator | |||||
Denominator for basic earnings per Common Share – weighted average number of Common Shares | 208,269,905 | 146,818,764 | [1] | ||
Effect of dilutive securities | |||||
Stock options | 1,371,177 | 558,996 | |||
Performance share units | 246,813 | 18,748 | |||
Deferred share units | 7,593 | ||||
Restricted share units | 72,673 | 17,076 | |||
Warrants | 569,304 | 717,792 | |||
Convertible Preferred Shares | 32,231,301 | 55,576,213 | |||
Effect of dilutive securities * | 34,498,861 | 56,888,825 | |||
Dilutive potential for diluted earnings per Common Share | 208,269,905 | 203,707,589 | [1] | ||
Basic earnings (loss) per Common Share | $ (0.49) | $ 1.77 | [1] | ||
Diluted earnings (loss) per Common Share | $ (0.49) | $ 1.27 | |||
|
X | ||||||||||
- Definition The weighted average number of ordinary shares outstanding plus the weighted average number of ordinary shares that would be issued on the conversion of all the dilutive potential ordinary shares into ordinary shares. [Refer: Ordinary shares [member]; Weighted average [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of profit (loss) attributable to ordinary equity holders of the parent entity (the numerator) divided by the weighted average number of ordinary shares outstanding during the period (the denominator). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount of profit (loss) attributable to ordinary equity holders of the parent entity (the numerator), divided by the weighted average number of ordinary shares outstanding during the period (the denominator), both adjusted for the effects of all dilutive potential ordinary shares. [Refer: Ordinary shares [member]; Weighted average [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition The number of dilutive potential ordinary shares that relate to the assumed conversion of the entity's convertible instruments. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The number of dilutive potential ordinary shares that relate to the assumed exercise of the entity's share options. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The profit (loss) from continuing operations. [Refer: Continuing operations [member]; Profit (loss)] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The number of ordinary shares outstanding at the beginning of the period, adjusted by the number of ordinary shares bought back or issued during the period multiplied by a time-weighting factor. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
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- References No definition available.
|
X | ||||||||||
- Definition Denominator computation of basic and diluted earnings per share. No definition available.
|
X | ||||||||||
- Definition Dilutive effect of deferred share units on number of ordinary shares. No definition available.
|
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- Definition Dilutive effect of performance share units on number of ordinary shares. No definition available.
|
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- Definition Dilutive effect of restricted share units on number of ordinary shares. No definition available.
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- Definition Dilutive effect of warrants on number of ordinary shares. No definition available.
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- Definition Effect of dilutive securities. No definition available.
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- Definition Numerator computation of basic and diluted earnings per share. No definition available.
|
Goodwill and Intangible Assets - Schedule of Goodwill and Intangible Assets (Details) - USD ($) |
12 Months Ended | |
---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
|
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Beginning balance | $ 4,477,350,000 | $ 4,588,572,000 |
Ending balance | 10,008,679,000 | 4,477,350,000 |
Cost | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Beginning balance | 4,927,676,000 | 4,900,213,000 |
Additions | 79,776,000 | 25,105,000 |
Additions through business combination | 5,985,055,000 | 1,413,000 |
Disposals | (7,830,000) | |
Reclassification | (201,000) | |
Translation | (264,959,000) | 1,146,000 |
Ending balance | 10,719,718,000 | 4,927,676,000 |
Accumulated Amortization and Impairments | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Beginning balance | 450,326,000 | 311,641,000 |
Amortization | 266,171,000 | 138,261,000 |
Disposals | (7,665,000) | |
Impairment | 5,373,000 | |
Translation | (3,166,000) | 424,000 |
Ending balance | 711,039,000 | 450,326,000 |
Software Technology Acquired Through Business Combinations | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Beginning balance | 26,420,000 | 54,916,000 |
Ending balance | 265,490,000 | 26,420,000 |
Software Technology Acquired Through Business Combinations | Cost | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Beginning balance | 117,492,000 | 116,079,000 |
Additions | 6,808,000 | |
Additions through business combination | 300,825,000 | 1,413,000 |
Disposals | (2,336,000) | |
Translation | (16,150,000) | |
Ending balance | 406,639,000 | 117,492,000 |
Software Technology Acquired Through Business Combinations | Accumulated Amortization and Impairments | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Beginning balance | 91,072,000 | 61,163,000 |
Amortization | 53,159,000 | 29,909,000 |
Disposals | (2,171,000) | |
Translation | (911,000) | |
Ending balance | 141,149,000 | 91,072,000 |
Customer Relationships | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Beginning balance | 1,099,427,000 | 1,194,342,000 |
Ending balance | 3,352,673,000 | 1,099,427,000 |
Customer Relationships | Cost | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Beginning balance | 1,423,719,000 | 1,423,719,000 |
Additions through business combination | 2,533,869,000 | |
Translation | (110,218,000) | |
Ending balance | 3,847,370,000 | 1,423,719,000 |
Customer Relationships | Accumulated Amortization and Impairments | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Beginning balance | 324,292,000 | 229,377,000 |
Amortization | 172,241,000 | 94,915,000 |
Translation | (1,836,000) | |
Ending balance | 494,697,000 | 324,292,000 |
Brands | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Beginning balance | 485,253,000 | 485,253,000 |
Ending balance | 506,672,000 | 485,253,000 |
Brands | Cost | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Beginning balance | 485,253,000 | 485,253,000 |
Additions through business combination | 22,447,000 | |
Translation | (1,028,000) | |
Ending balance | 506,672,000 | 485,253,000 |
Brands (licensed) | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Ending balance | 472,474,000 | |
Brands (licensed) | Cost | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Additions through business combination | 509,896,000 | |
Translation | (23,345,000) | |
Ending balance | 486,551,000 | |
Brands (licensed) | Accumulated Amortization and Impairments | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Amortization | 14,346,000 | |
Translation | (269,000) | |
Ending balance | 14,077,000 | |
Deferred Development Costs | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Beginning balance | 51,712,000 | 38,976,000 |
Ending balance | 83,857,000 | 51,712,000 |
Deferred Development Costs | Cost | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Beginning balance | 71,819,000 | 48,808,000 |
Additions | 51,574,000 | 23,212,000 |
Reclassification | (201,000) | |
Translation | (607,000) | |
Ending balance | 122,786,000 | 71,819,000 |
Deferred Development Costs | Accumulated Amortization and Impairments | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Beginning balance | 20,107,000 | 9,832,000 |
Amortization | 14,656,000 | 10,275,000 |
Impairment | 4,178,000 | |
Translation | (12,000) | |
Ending balance | 38,929,000 | 20,107,000 |
Other Intangibles | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Beginning balance | 9,328,000 | 9,875,000 |
Ending balance | 61,533,000 | 9,328,000 |
Other Intangibles | Cost | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Beginning balance | 18,712,000 | 15,673,000 |
Additions | 21,394,000 | 1,893,000 |
Additions through business combination | 46,668,000 | |
Disposals | (550,000) | |
Translation | (3,830,000) | 1,146,000 |
Ending balance | 82,394,000 | 18,712,000 |
Other Intangibles | Accumulated Amortization and Impairments | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Beginning balance | 9,384,000 | 5,798,000 |
Amortization | 11,769,000 | 3,162,000 |
Disposals | (550,000) | |
Impairment | 396,000 | |
Translation | (138,000) | 424,000 |
Ending balance | 20,861,000 | 9,384,000 |
Goodwill | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Beginning balance | 2,805,210,000 | 2,805,210,000 |
Impairment | 800,000 | |
Ending balance | 5,265,980,000 | 2,805,210,000 |
Goodwill | Cost | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Beginning balance | 2,810,681,000 | 2,810,681,000 |
Additions through business combination | 2,571,350,000 | |
Disposals | (4,944,000) | |
Translation | (109,781,000) | |
Ending balance | 5,267,306,000 | 2,810,681,000 |
Goodwill | Accumulated Amortization and Impairments | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
Beginning balance | 5,471,000 | 5,471,000 |
Disposals | (4,944,000) | |
Impairment | 799,000 | |
Ending balance | $ 1,326,000 | $ 5,471,000 |
X | ||||||||||
- Definition The increase in intangible assets and goodwill resulting from acquisitions through business combinations. [Refer: Business combinations [member]; Intangible assets and goodwill] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition The amount of additions to intangible assets other than goodwill, other than those acquired through business combinations. [Refer: Business combinations [member]; Intangible assets other than goodwill] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
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- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
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- Definition The decrease in intangible assets and goodwill resulting from disposals. [Refer: Intangible assets and goodwill] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
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- Definition The amount of impairment loss recognised in profit or loss for intangible assets and goodwill. [Refer: Impairment loss recognised in profit or loss; Intangible assets and goodwill] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
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- Definition The increase (decrease) in intangible assets and goodwill resulting from the net exchange differences arising when the financial statements are translated from the functional currency into a different presentation currency, including the translation of a foreign operation into the presentation currency of the reporting entity. [Refer: Intangible assets and goodwill] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of intangible assets and goodwill held by the entity. [Refer: Goodwill; Intangible assets other than goodwill] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
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- Definition The amount of amortization of intangible assets other than goodwill and brands. No definition available.
|
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- Definition The increase (decrease) through reclassification intangible assets and goodwill. No definition available.
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Goodwill and Intangible Assets - Additional Information (Details) - USD ($) |
12 Months Ended | ||||
---|---|---|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
||||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||||
Goodwill | $ 5,265,980,000 | $ 2,805,210,000 | [1] | ||
Impairment loss recognized in profit or loss, goodwill | $ 0 | ||||
International | |||||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||||
Revenue growth rate | 7.80% | ||||
Steady growth rate | 3.00% | ||||
UNITED KINGDOM | |||||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||||
Revenue growth rate | 4.00% | ||||
Steady growth rate | 3.00% | ||||
Excess of recoverable amount over carrying amount | $ 111,000,000 | ||||
Australia | |||||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||||
Revenue growth rate | 7.90% | ||||
Steady growth rate | 2.00% | ||||
Excess of recoverable amount over carrying amount | $ 152,000,000 | ||||
Deferred Development Costs | |||||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||||
Impairment losses | 4,800,000 | ||||
Deferred Development Costs | Subsidiaries | |||||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||||
Goodwill | |||||
Discontinued Development and Other Projects | |||||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||||
Impairment losses | $ 4,800,000 | ||||
Goodwill | |||||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |||||
Impairment losses | $ 800,000 | ||||
|
X | ||||||||||
- Definition The amount by which a cash-generating unit's (group of units') recoverable amount exceeds its carrying amount. [Refer: Carrying amount [member]; Cash-generating units [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The growth rate used to extrapolate cash flow projections beyond the period covered by the most recent budgets/forecasts for a cash-generating unit (group of units). [Refer: Cash-generating units [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
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- Definition The amount of assets representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognised. [Refer: Business combinations [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of impairment loss recognised in profit or loss for goodwill. [Refer: Impairment loss recognised in profit or loss; Goodwill] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
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- Definition The amount of impairment loss recognised in profit or loss for intangible assets and goodwill. [Refer: Impairment loss recognised in profit or loss; Intangible assets and goodwill] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
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- Definition The steady growth rate used to extrapolate cash flow projections beyond the period covered by the most recent budgets/forecasts for a cash-generating unit (group of units). [Refer: Cash-generating units [member]] No definition available.
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Goodwill and Intangible Assets - Summary of Impairment Test Operations for CGU (Details) - Cash Generating Unit |
12 Months Ended | |
---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
|
Goodwill | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
International | 5,265,980 | 2,805,210 |
Brands | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
International | 506,672 | 485,253 |
International | Goodwill | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
International | 2,806,485 | 2,805,210 |
International | Brands | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
International | 485,253 | 485,253 |
UNITED KINGDOM | Goodwill | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
International | 2,333,476 | — |
UNITED KINGDOM | Brands | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
International | 21,419 | — |
Australia | Goodwill | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
International | 126,019 | — |
Australia | Brands | ||
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | ||
International | — | — |
X | ||||||||||
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
|
X | ||||||||||
- Definition The explanation of the main events and circumstances that led to the recognition of impairment losses and reversals of impairment losses. [Refer: Impairment loss] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Goodwill and Intangible Assets - Summary of Key Assumption Used value in Calculation (Details) |
Dec. 31, 2018 |
---|---|
International | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Discount Rate (pre-tax) | 11.20% |
Discount Rate (after-tax) | 11.00% |
Perpetual Growth Rate | 3.00% |
Revenue growth rate | 7.80% |
International | Minimum | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Revenue growth rate | 6.60% |
Adjusted EBITDA Margin as % of Revenue | 38.90% |
CAPEX as % of Revenue | 4.50% |
International | Maximum | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Revenue growth rate | 11.50% |
Adjusted EBITDA Margin as % of Revenue | 43.00% |
UNITED KINGDOM | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Discount Rate (pre-tax) | 9.30% |
Discount Rate (after-tax) | 8.20% |
Perpetual Growth Rate | 3.00% |
Revenue growth rate | 4.00% |
UNITED KINGDOM | Minimum | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Revenue growth rate | 4.00% |
Adjusted EBITDA Margin as % of Revenue | 26.90% |
CAPEX as % of Revenue | 4.50% |
UNITED KINGDOM | Maximum | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Revenue growth rate | 13.40% |
Adjusted EBITDA Margin as % of Revenue | 30.50% |
Australia | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Discount Rate (pre-tax) | 14.10% |
Discount Rate (after-tax) | 10.50% |
Perpetual Growth Rate | 2.00% |
Revenue growth rate | 7.90% |
Australia | Minimum | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Revenue growth rate | 3.90% |
Adjusted EBITDA Margin as % of Revenue | 16.50% |
CAPEX as % of Revenue | 4.40% |
Australia | Maximum | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Revenue growth rate | 11.50% |
Adjusted EBITDA Margin as % of Revenue | 19.40% |
CAPEX as % of Revenue | 5.40% |
X | ||||||||||
- Definition The growth rate used to extrapolate cash flow projections beyond the period covered by the most recent budgets/forecasts for a cash-generating unit (group of units). [Refer: Cash-generating units [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
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- Definition Description of capital expenditure as percentage of revenue to extrapolate cash flow projections. No definition available.
|
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- Definition Description of earnings before interest taxes depreciation and amortization as percentage of revenue to extrapolate cash flow projections. No definition available.
|
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- Definition The perpetual growth rate used to extrapolate cash flow projections beyond the period covered by the most recent budgets/forecasts for a cash-generating unit (group of units). [Refer: Cash-generating units [member]] No definition available.
|
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- Definition Discount rate applied to cash flow projections after tax basis. No definition available.
|
X | ||||||||||
- Definition Discount rate applied to cash flow projections pre tax basis. No definition available.
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Goodwill and Intangible Assets - Summary of Change Required for Carrying Value to Equal Recoverable Amount (Details) $ in Millions |
Dec. 31, 2018
USD ($)
|
---|---|
UNITED KINGDOM | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Discount Rate (pre-tax) | $ 0.1 |
Discount Rate (after-tax) | 0.1 |
Perpetual Growth Rate | (0.2) |
Revenue Growth Rate across the five year forecast | (0.6) |
Adjusted EBITDA Margin as % of Revenue across the five year forecast | (0.6) |
CAPEX as % of Revenue | 0.7 |
Australia | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Line Items] | |
Discount Rate (pre-tax) | 4.7 |
Discount Rate (after-tax) | 3.3 |
Perpetual Growth Rate | (8.9) |
Revenue Growth Rate across the five year forecast | (5.4) |
Adjusted EBITDA Margin as % of Revenue across the five year forecast | (4.0) |
CAPEX as % of Revenue | $ 3.5 |
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- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
|
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- Definition Description of capital expenditure as percentage of revenue to extrapolate cash flow projections value. No definition available.
|
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- Definition Description of earnings before interest taxes depreciation and amortization as percentage of revenue to extrapolate cash flow projections value. No definition available.
|
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- Definition Description of growth rate used to extrapolate cash flow projections value. No definition available.
|
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- Definition Description of growth rate used to extrapolate cash flow projections value. No definition available.
|
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- Definition Discount rate applied to cash flow projections after tax basis value. No definition available.
|
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- Definition Discount rate applied to cash flow projections pre tax basis value. No definition available.
|
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Property and Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Thousands |
12 Months Ended | |||||
---|---|---|---|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
|||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||||
Beginning balance | $ 44,837 | [1] | $ 40,800 | |||
Ending balance | 85,169 | 44,837 | [1] | |||
Cost | ||||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||||
Beginning balance | 62,580 | 49,672 | ||||
Additions | 33,952 | 10,997 | ||||
Additions through business combinations | 26,224 | |||||
Disposals | (364) | (1,906) | ||||
Impairment | (1,521) | |||||
Translation | (3,495) | 3,817 | ||||
Ending balance | 117,376 | 62,580 | ||||
Accumulated Depreciation | ||||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||||
Beginning balance | 17,743 | 8,872 | ||||
Depreciation | 16,633 | 8,925 | ||||
Disposals | (69) | (1,185) | ||||
Impairment | (954) | |||||
Translation | (1,146) | 1,131 | ||||
Ending balance | 32,207 | 17,743 | ||||
Furniture and Fixtures | ||||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||||
Beginning balance | 7,173 | 7,339 | ||||
Ending balance | 34,166 | 7,173 | ||||
Furniture and Fixtures | Cost | ||||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||||
Beginning balance | 12,497 | 9,356 | ||||
Additions | 11,283 | 2,724 | ||||
Additions through business combinations | 24,582 | |||||
Disposals | (338) | (571) | ||||
Impairment | (1,521) | |||||
Translation | (870) | 988 | ||||
Ending balance | 45,633 | 12,497 | ||||
Furniture and Fixtures | Accumulated Depreciation | ||||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||||
Beginning balance | 5,324 | 2,017 | ||||
Depreciation | 7,682 | 3,198 | ||||
Disposals | (57) | (301) | ||||
Impairment | (954) | |||||
Translation | (528) | 410 | ||||
Ending balance | 11,467 | 5,324 | ||||
Computer Equipment | ||||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||||
Beginning balance | 16,753 | 13,388 | ||||
Ending balance | 32,702 | 16,753 | ||||
Computer Equipment | Cost | ||||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||||
Beginning balance | 26,155 | 18,627 | ||||
Additions | 22,669 | 8,273 | ||||
Additions through business combinations | 1,642 | |||||
Disposals | (26) | (1,251) | ||||
Translation | (634) | 506 | ||||
Ending balance | 49,806 | 26,155 | ||||
Computer Equipment | Accumulated Depreciation | ||||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||||
Beginning balance | 9,402 | 5,239 | ||||
Depreciation | 7,960 | 4,764 | ||||
Disposals | (12) | (860) | ||||
Translation | (246) | 259 | ||||
Ending balance | 17,104 | 9,402 | ||||
Building | ||||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||||
Beginning balance | 20,911 | 20,013 | ||||
Ending balance | 18,301 | 20,911 | ||||
Building | Cost | ||||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||||
Beginning balance | 23,928 | 21,605 | ||||
Translation | (1,991) | 2,323 | ||||
Ending balance | 21,937 | 23,928 | ||||
Building | Accumulated Depreciation | ||||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||||
Beginning balance | 3,017 | 1,592 | ||||
Depreciation | 991 | 963 | ||||
Translation | (372) | 462 | ||||
Ending balance | $ 3,636 | 3,017 | ||||
Revenue-Producing Assets | ||||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||||
Beginning balance | 60 | |||||
Revenue-Producing Assets | Cost | ||||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||||
Beginning balance | 84 | |||||
Disposals | (84) | |||||
Revenue-Producing Assets | Accumulated Depreciation | ||||||
Disclosure Of Property Plant And Equipment [Line Items] | ||||||
Beginning balance | 24 | |||||
Disposals | $ (24) | |||||
|
X | ||||||||||
- Definition The increase in property, plant and equipment resulting from acquisitions through business combinations. [Refer: Business combinations [member]; Property, plant and equipment] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition The amount of additions to property, plant and equipment other than those acquired through business combinations. [Refer: Business combinations [member]; Property, plant and equipment] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount of depreciation of property, plant and equipment. [Refer: Depreciation and amortisation expense; Property, plant and equipment] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
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- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
|
X | ||||||||||
- Definition The decrease in property, plant and equipment resulting from disposals. [Refer: Property, plant and equipment] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
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- Definition The amount of impairment loss recognised in profit or loss for property, plant and equipment. [Refer: Impairment loss recognised in profit or loss; Property, plant and equipment] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
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- Definition The increase (decrease) in property, plant and equipment resulting from net exchange differences arising on the translation of the financial statements from the functional currency into a different presentation currency, including the translation of a foreign operation into the presentation currency of the reporting entity. [Refer: Property, plant and equipment] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of tangible assets that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than one period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Investments - Summary of Investments Held by Corporate (Details) - USD ($) $ in Thousands |
Dec. 31, 2018 |
Dec. 31, 2017 |
---|---|---|
Disclosure Of Investment [Line Items] | ||
Investments | $ 109,926 | $ 129,649 |
Current portion | 103,153 | 122,668 |
Non-current portion | 6,773 | 6,981 |
Funds | Available-for-sale | ||
Disclosure Of Investment [Line Items] | ||
Investments | 7,045 | |
Bonds | Available-for-sale | ||
Disclosure Of Investment [Line Items] | ||
Investments | 115,343 | |
Equity in Unquoted Companies | Available-for-sale | ||
Disclosure Of Investment [Line Items] | ||
Investments | 6,981 | |
Equity in Quoted Companies | Available-for-sale | ||
Disclosure Of Investment [Line Items] | ||
Investments | $ 280 | |
Bonds – FVOCI | ||
Disclosure Of Investment [Line Items] | ||
Investments | 103,153 | |
Equity in Unquoted Companies – FVTPL | ||
Disclosure Of Investment [Line Items] | ||
Investments | $ 6,773 |
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- Definition The amount of current investments. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
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- Definition Disclosure of investment. No definition available.
|
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- Definition The amount of investments. No definition available.
|
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- Definition The amount of non-current Investments. No definition available.
|
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Investments - Additional Information (Details) - USD ($) |
12 Months Ended | ||||
---|---|---|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
||||
Disclosure Of Investment [Line Items] | |||||
Current investments - customer deposits | $ 103,153,000 | $ 122,668,000 | [1] | ||
Customer deposits covered by cash | 328,200,000 | ||||
Impairment loss | $ 0 | ||||
Gain on investment in equity instruments | 33,600,000 | ||||
Securities of NYX Gaming Group | |||||
Disclosure Of Investment [Line Items] | |||||
Proceeds from sale of investment in cash | 27,900,000 | ||||
Gain on investment in equity instruments | 14,000,000 | ||||
Shares of Jackpotjoy | |||||
Disclosure Of Investment [Line Items] | |||||
Proceeds from sale of investment in cash | 59,800,000 | ||||
Gain on investment in equity instruments | $ 15,000,000 | ||||
|
X | ||||||||||
- Definition The gain on the disposal of investments. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount recognised as a reduction of the carrying amount of an asset or cash-generating unit to its recoverable amount. [Refer: Carrying amount [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The cash inflow from sales of investments other than investments accounted for using the equity method. [Refer: Investments accounted for using equity method; Investments other than investments accounted for using equity method] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition A classification of cash equivalents representing short-term deposits. [Refer: Cash equivalents] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Customer deposits held in investment accounts which are segregated from those holding operational funds. No definition available.
|
X | ||||||||||
- Definition Disclosure of investment. No definition available.
|
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Investments - Summary of Corporations investments Held by Maturity Date (Details) $ in Thousands |
Dec. 31, 2018
USD ($)
|
---|---|
Disclosure Of Investment [Line Items] | |
Available for sale securities, debt maturities, next twelve months, fair value | $ 41,664 |
Available for sale securities, debt maturities, year two through five, fair value | 61,489 |
Bonds | |
Disclosure Of Investment [Line Items] | |
Available for sale securities, debt maturities, next twelve months, fair value | 41,664 |
Available for sale securities, debt maturities, year two through five, fair value | $ 61,489 |
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- Definition Available for sale securities debt maturities after one to five years fair value. No definition available.
|
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- Definition Available for sale securities debt maturities one years fair value. No definition available.
|
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- Definition Disclosure of investment. No definition available.
|
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Investments - Summary of Recognized Gains (Losses) From Current Investments (Details) - USD ($) $ in Thousands |
12 Months Ended | |
---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
|
Disclosure Of Investment [Line Items] | ||
Investment income earned | $ 2,592 | $ 900 |
Realized (losses) gains | (311) | |
Unrealized (losses) gains | (339) | |
Re-measurement of financial assets at FVTPL | (1,897) | |
Total | 45 | |
Bonds | ||
Disclosure Of Investment [Line Items] | ||
Investment income earned | 2,592 | |
Realized (losses) gains | (311) | |
Unrealized (losses) gains | (339) | |
Total | 1,942 | |
Equity in Private Companies | ||
Disclosure Of Investment [Line Items] | ||
Re-measurement of financial assets at FVTPL | (1,897) | |
Total | $ (1,897) |
X | ||||||||||
- Definition The amount of investment income, such as interest and dividends. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Disclosure of investment. No definition available.
|
X | ||||||||||
- Definition Gains losses on change in fair value of investments. No definition available.
|
X | ||||||||||
- Definition Realized gains (losses). No definition available.
|
X | ||||||||||
- Definition Re-measurement of financial assets at fair value through profit or loss. No definition available.
|
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- Definition Unrealized gains (losses). No definition available.
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Investments - Schedule Significant Subsidiaries of Corporation (Details) |
12 Months Ended |
---|---|
Dec. 31, 2018 | |
Stars Group Holdings B.V. | Netherlands | |
Disclosure Of Investment [Line Items] | |
Principal business | Intermediate holding company and investment vehicle |
Percentage of ownership | 100.00% |
Stars Group Holdings Cooperatieve U.A | Netherlands | |
Disclosure Of Investment [Line Items] | |
Principal business | Intermediate holding company |
Percentage of ownership | 100.00% |
Stars Interactive Holdings (IOM) Limited | Isle of Man | |
Disclosure Of Investment [Line Items] | |
Principal business | Intermediate holding company |
Percentage of ownership | 100.00% |
Worldwide Independent Trust Limited | Isle of Man | |
Disclosure Of Investment [Line Items] | |
Principal business | Treasury |
Percentage of ownership | 100.00% |
Rational Entertainment Enterprises Limited | Isle of Man | |
Disclosure Of Investment [Line Items] | |
Principal business | Gaming services |
Percentage of ownership | 100.00% |
Naris Limited | Isle of Man | |
Disclosure Of Investment [Line Items] | |
Principal business | Treasury |
Percentage of ownership | 100.00% |
Stars Interactive Limited | Isle of Man | |
Disclosure Of Investment [Line Items] | |
Principal business | Intermediate holding company |
Percentage of ownership | 100.00% |
RG Cash Plus Limited | Isle of Man | |
Disclosure Of Investment [Line Items] | |
Principal business | Treasury |
Percentage of ownership | 100.00% |
Rational Gaming Europe Limited | Malta | |
Disclosure Of Investment [Line Items] | |
Principal business | Various |
Percentage of ownership | 100.00% |
REEL Spain Plc | Malta | |
Disclosure Of Investment [Line Items] | |
Principal business | Gaming services |
Percentage of ownership | 100.00% |
Hestview Limited | England and Wales | |
Disclosure Of Investment [Line Items] | |
Principal business | Gaming services |
Percentage of ownership | 100.00% |
Bonne Terre Limited | Alderney | |
Disclosure Of Investment [Line Items] | |
Principal business | Gaming services |
Percentage of ownership | 100.00% |
BetEasy Pty Limited | Australia | |
Disclosure Of Investment [Line Items] | |
Principal business | Gaming services |
Percentage of ownership | 80.00% |
X | ||||||||||
- Definition Disclosure of investment. No definition available.
|
X | ||||||||||
- Definition Percentage of ownership. No definition available.
|
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- Definition Principal business. No definition available.
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Accounts Receivable - Schedule of Accounts Receivable (Details) - USD ($) $ in Thousands |
Dec. 31, 2018 |
Dec. 31, 2017 |
|||
---|---|---|---|---|---|
Trade And Other Current Receivables [Abstract] | |||||
Balances held with processors | $ 92,971 | $ 75,147 | |||
Balances due from live events | 13,983 | 10,260 | |||
VAT receivable | 11,029 | 6,684 | |||
Other receivables | 18,364 | 8,318 | |||
Total accounts receivable balance | 136,347 | 100,409 | [1] | ||
Long-term VAT receivable | 14,906 | 11,818 | |||
Total non-current receivable balance | $ 14,906 | $ 11,818 | |||
|
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- Definition The amount of current value added tax receivables. [Refer: Value added tax receivables] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
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- Definition The amount of non-current trade receivables. [Refer: Trade receivables] Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
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- Definition The amount of non-current value added tax receivables. [Refer: Value added tax receivables] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
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- Definition The amount of current other receivables. [Refer: Other receivables] Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
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- Definition The amount of current trade receivables and current other receivables. [Refer: Current trade receivables; Other current receivables] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
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- References No definition available.
|
X | ||||||||||
- Definition The amount of accounts receivables due from live events. No definition available.
|
X | ||||||||||
- Definition The amount of accounts receivables held with processors. No definition available.
|
Cash and Cash Equivalents, Restricted Cash Advances and Collateral - Additional Information (Details) - USD ($) $ in Thousands |
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
|||
---|---|---|---|---|---|---|
Restricted Cash Advances And Collateral [Line Items] | ||||||
Cash and cash equivalents | $ 721,076 | $ 510,323 | [1] | $ 267,684 | ||
Subsidiary | ||||||
Restricted Cash Advances And Collateral [Line Items] | ||||||
Cash and cash equivalents | $ 40,100 | $ 24,700 | ||||
|
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- Definition The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Restricted cash advances and collateral. No definition available.
|
X | ||||||||||
- Details
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Cash and Cash Equivalents, Restricted Cash Advances and Collateral - Schedule of Restricted Cash Advances and Collateral (Details) - USD ($) $ in Thousands |
Dec. 31, 2018 |
Dec. 31, 2017 |
|||
---|---|---|---|---|---|
Restricted Cash Advances And Collateral [Line Items] | |||||
Restricted cash advances and collateral – total | $ 21,449 | $ 53,696 | |||
Restricted cash advances and collateral – current portion | 10,819 | 7,862 | [1] | ||
Restricted cash advances and collateral – non-current portion | 10,630 | 45,834 | [1] | ||
Guarantees in Connection With Licenses Held | |||||
Restricted Cash Advances And Collateral [Line Items] | |||||
Restricted cash advances and collateral – total | 4,312 | 4,333 | |||
Funds in Connection With Hedging Contracts | |||||
Restricted Cash Advances And Collateral [Line Items] | |||||
Restricted cash advances and collateral – total | 2,836 | 5,113 | |||
Segregated Funds in Respect of Payment Processors | |||||
Restricted Cash Advances And Collateral [Line Items] | |||||
Restricted cash advances and collateral – total | 2,030 | 2,749 | |||
Guarantee in Connection with Acquisition of a Subsidiary | |||||
Restricted Cash Advances And Collateral [Line Items] | |||||
Restricted cash advances and collateral – total | 1,146 | 1,201 | |||
Cash Portion of Kentucky Bond Collateral | |||||
Restricted Cash Advances And Collateral [Line Items] | |||||
Restricted cash advances and collateral – total | 5,000 | 40,000 | |||
Funds Held In Term Deposits | |||||
Restricted Cash Advances And Collateral [Line Items] | |||||
Restricted cash advances and collateral – total | 5,837 | ||||
Other Restricted Cash Advances and Collateral | |||||
Restricted Cash Advances And Collateral [Line Items] | |||||
Restricted cash advances and collateral – total | $ 288 | $ 300 | |||
|
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- Definition Restricted cash advances and collateral. No definition available.
|
X | ||||||||||
- Definition Cash whose use is restricted for the short-term, in principal by contractual agreements or regulatory requirements. Including the cash portion of a Bond Collateral. No definition available.
|
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- Definition Restricted cash advances and collateral. No definition available.
|
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- Definition Cash whose use in whole is restricted for the long-term, generally by contractual agreements or regulatory requirements; and the cash portion of a Bond Collateral. No definition available.
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Cash and Cash Equivalents, Restricted Cash Advances and Collateral - Schedule of Restricted Cash Advances and Collateral (Parenthetical) (Details) - USD ($) $ in Thousands |
Dec. 31, 2018 |
Dec. 31, 2017 |
---|---|---|
Restricted Cash Advances And Collateral [Line Items] | ||
Restricted cash advances and collateral – total | $ 21,449 | $ 53,696 |
Cash Portion of Kentucky Bond Collateral | ||
Restricted Cash Advances And Collateral [Line Items] | ||
Restricted cash advances and collateral – total | $ 5,000 | $ 40,000 |
X | ||||||||||
- Definition Restricted cash advances and collateral. No definition available.
|
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- Definition Restricted cash advances and collateral. No definition available.
|
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Prepaid Expenses and Other Assets - Components of Prepaid Expenses and Other Assets (Details) - USD ($) $ in Thousands |
Dec. 31, 2018 |
Dec. 31, 2017 |
|||
---|---|---|---|---|---|
Prepaid Expenses And Other Assets [Abstract] | |||||
Prepaid royalties | $ 987 | $ 5,704 | |||
Prepaid expenses | 38,688 | 22,281 | |||
Vendor deposits | 1,297 | 1,408 | |||
Other current assets | 2,973 | 302 | |||
Total current portion of prepaid expenses and other assets | 43,945 | 29,695 | [1] | ||
Prepaid royalties | 15,963 | 16,444 | |||
Vendor deposits | 758 | 70 | |||
Long term investments | 6,773 | 6,981 | |||
Investment tax credits receivable | 2,483 | 3,056 | |||
Deferred financing costs | 6,783 | ||||
Total non-current portion of prepaid expenses and other assets | $ 32,760 | $ 26,551 | [1] | ||
|
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- Definition The amount recognised as a current asset for expenditures made prior to the period when the economic benefit will be realised. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The amount of current prepayments and other current assets. [Refer: Other current assets; Current prepayments] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The amount of current assets that the entity does not separately disclose in the same statement or note. [Refer: Current assets] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The amount of non-current non-financial assets that the entity does not separately disclose in the same statement or note. [Refer: Financial assets] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Current vendor deposits. No definition available.
|
X | ||||||||||
- Definition Investment tax credits receivable . No definition available.
|
X | ||||||||||
- Definition The amount of non-current Investments. No definition available.
|
X | ||||||||||
- Definition Prepaid expenses and other assets. No definition available.
|
X | ||||||||||
- Definition Prepaid expenses and other non-current assets. No definition available.
|
X | ||||||||||
- Definition Current prepaid royalties. No definition available.
|
X | ||||||||||
- Definition Non-current prepaid royalties. No definition available.
|
X | ||||||||||
- Definition Non-current vendor deposits. No definition available.
|
Long-Term Debt - Disclosure of Principal and Carrying Amount of Long-Term Debt Outstanding (Details) - USD ($) $ in Thousands |
Dec. 31, 2018 |
Dec. 31, 2017 |
|||
---|---|---|---|---|---|
Disclosure Of Long Term Debt [Line Items] | |||||
Carrying amount in USD | $ 5,446,958 | $ 2,358,569 | |||
Current portion of long term debt | 35,750 | 4,990 | [1] | ||
Long-term debt | $ 5,411,208 | $ 2,353,579 | [1] | ||
Revolving Credit Facilities | |||||
Disclosure Of Long Term Debt [Line Items] | |||||
Interest rate | 5.64% | ||||
USD First Lien Term Loan | |||||
Disclosure Of Long Term Debt [Line Items] | |||||
Interest rate | 5.89% | ||||
Principal outstanding balance in currency of borrowing | $ 3,557,125 | ||||
Carrying amount in USD | $ 3,479,823 | ||||
EUR First Lien Term Loan | |||||
Disclosure Of Long Term Debt [Line Items] | |||||
Interest rate | 3.75% | ||||
Principal outstanding balance in currency of borrowing | $ 850,000 | ||||
Carrying amount in USD | $ 951,980 | ||||
Senior Notes | |||||
Disclosure Of Long Term Debt [Line Items] | |||||
Interest rate | 7.00% | ||||
Principal outstanding balance in currency of borrowing | $ 1,000,000 | ||||
Carrying amount in USD | $ 980,008 | ||||
USD Second Lien Term Loan | |||||
Disclosure Of Long Term Debt [Line Items] | |||||
Interest rate | 8.69% | ||||
Principal outstanding balance in currency of borrowing | $ 95,000 | ||||
Carrying amount in USD | $ 56,632 | ||||
Loan Payable to Non-controlling Interests | |||||
Disclosure Of Long Term Debt [Line Items] | |||||
Interest rate | 0.00% | ||||
Principal outstanding balance in currency of borrowing | $ 49,936 | ||||
Carrying amount in USD | $ 35,147 | ||||
Previous USD First Lien Term Loan | |||||
Disclosure Of Long Term Debt [Line Items] | |||||
Interest rate | 5.32% | ||||
Principal outstanding balance in currency of borrowing | $ 1,895,654 | ||||
Carrying amount in USD | $ 1,848,397 | ||||
Previous EUR First Lien Term Loan | |||||
Disclosure Of Long Term Debt [Line Items] | |||||
Interest rate | 3.25% | ||||
Principal outstanding balance in currency of borrowing | $ 382,222 | ||||
Carrying amount in USD | $ 453,540 | ||||
|
X | ||||||||||
- Definition The amount of outstanding funds that the entity is obligated to repay. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The interest rate on borrowings. [Refer: Borrowings] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The current portion of non-current borrowings. [Refer: Borrowings] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The non-current portion of non-current borrowings. [Refer: Borrowings] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The nominal or face amount of a financial instrument, used to calculate payments made on that instrument. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Disclosure of long term debt. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
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- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
|
Long-Term Debt - Disclosure of Interest Outstanding on the Long Term Debt (Details) - USD ($) $ in Thousands |
12 Months Ended | |
---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
|
Disclosure Of Long Term Debt [Line Items] | ||
Interest | $ 185,830 | $ 108,015 |
Interest Accretion | 169,143 | 18,267 |
Total Interest | $ 354,973 | $ 126,282 |
Revolving Credit Facilities | ||
Disclosure Of Long Term Debt [Line Items] | ||
Effective interest rate | 5.66% | |
Interest | $ 4,006 | |
Interest Accretion | 699 | |
Total Interest | $ 4,705 | |
USD First Lien Term Loan | ||
Disclosure Of Long Term Debt [Line Items] | ||
Effective interest rate | 6.54% | |
Interest | $ 75,988 | |
Interest Accretion | 7,799 | |
Total Interest | $ 83,787 | |
EUR First Lien Term Loan | ||
Disclosure Of Long Term Debt [Line Items] | ||
Effective interest rate | 4.26% | |
Interest | $ 17,792 | |
Interest Accretion | 1,365 | |
Total Interest | $ 19,157 | |
USD Second Lien Term Loan | ||
Disclosure Of Long Term Debt [Line Items] | ||
Effective interest rate | 13.78% | 16.05% |
Interest | $ 2,216 | $ 14,340 |
Interest Accretion | 4,643 | 5,179 |
Total Interest | $ 6,859 | $ 19,519 |
Senior Notes | ||
Disclosure Of Long Term Debt [Line Items] | ||
Effective interest rate | 7.47% | |
Interest | $ 33,250 | |
Interest Accretion | 1,000 | |
Total Interest | $ 34,250 | |
Previous USD First Lien Term Loan | ||
Disclosure Of Long Term Debt [Line Items] | ||
Effective interest rate | 6.07% | 5.54% |
Interest | $ 42,885 | $ 76,851 |
Interest Accretion | 112,135 | 11,817 |
Total Interest | $ 155,020 | $ 88,668 |
Previous EUR First Lien Term Loan | ||
Disclosure Of Long Term Debt [Line Items] | ||
Effective interest rate | 3.87% | 4.37% |
Interest | $ 9,693 | $ 16,824 |
Interest Accretion | 41,502 | 1,271 |
Total Interest | $ 51,195 | $ 18,095 |
X | ||||||||||
- Definition The amount of expense arising from interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount of interest expense on bank loans and overdrafts. [Refer: Interest expense; Bank overdrafts] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Borrowings effective interest rate. No definition available.
|
X | ||||||||||
- Definition Disclosure of long term debt. No definition available.
|
X | ||||||||||
- Definition Interest accretion on debt. No definition available.
|
X | ||||||||||
- Details
|
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- Details
|
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- Details
|
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- Details
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- Details
|
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- Details
|
Long-Term Debt - Additional Information (Details) € in Millions, $ in Millions |
12 Months Ended | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jul. 10, 2018
USD ($)
|
Apr. 06, 2018
USD ($)
|
Dec. 31, 2018
USD ($)
|
Dec. 31, 2018
AUD ($)
|
Dec. 31, 2018
AUD ($)
|
Jul. 10, 2018
EUR (€)
|
Apr. 25, 2018 |
Apr. 24, 2018 |
Mar. 06, 2018
USD ($)
|
Mar. 06, 2018
AUD ($)
|
Feb. 27, 2018
USD ($)
|
Feb. 27, 2018
AUD ($)
|
Dec. 31, 2017
USD ($)
|
|
Disclosure Of Long Term Debt [Line Items] | |||||||||||||
Loss on debt extinguishment | $ (147,000,000) | ||||||||||||
Carrying amount of long-term debt | 5,446,958,000 | $ 2,358,569,000 | |||||||||||
Percentage of aggregate principal amount | 0.25% | 0.25% | |||||||||||
Loans from noncontrolling interests | $ 35,100,000 | $ 47.4 | |||||||||||
Equity contribution by noncontrolling interest | $ 12,100,000 | $ 15.8 | |||||||||||
Additional shareholder loan by non-controlling interest | 1,800,000 | $ 2.5 | |||||||||||
Loan outstanding balance | $ 36,100,000 | $ 49.9 | |||||||||||
Description for repayment of term loan | The loan is non-interest bearing and repayable on the earlier of 9 years and 364 days from the date of advance and the date of completion of the 20% put-call option | The loan is non-interest bearing and repayable on the earlier of 9 years and 364 days from the date of advance and the date of completion of the 20% put-call option | |||||||||||
BetEasy | |||||||||||||
Disclosure Of Long Term Debt [Line Items] | |||||||||||||
Percentage of equity interests acquired | 18.00% | 18.00% | 80.00% | 18.00% | 62.00% | 62.00% | |||||||
Financial liabilities | $ 59,200,000 | ||||||||||||
Loan from minority shareholders | $ 15,500,000 | $ 19.7 | |||||||||||
Repayment of loan | $ 6,200,000 | $ 8.2 | |||||||||||
Discharged loan from shareholder | $ 8,600,000 | $ 11.5 | |||||||||||
BetEasy | Subsequent Event | |||||||||||||
Disclosure Of Long Term Debt [Line Items] | |||||||||||||
Percentage of equity interests acquired | 62.00% | 62.00% | |||||||||||
Crown Bet Holdings Pty Limited | Subsequent Event | |||||||||||||
Disclosure Of Long Term Debt [Line Items] | |||||||||||||
Percentage of equity interests acquired | 62.00% | 62.00% | 80.00% | 80.00% | |||||||||
Stars Interactive Group | |||||||||||||
Disclosure Of Long Term Debt [Line Items] | |||||||||||||
Date of acquisition | Jul. 10, 2018 | Jul. 10, 2018 | |||||||||||
Senior Notes due 2026 | |||||||||||||
Disclosure Of Long Term Debt [Line Items] | |||||||||||||
Percentage added to reference rate | 101.00% | 101.00% | |||||||||||
Borrowings, maturity date | July 15, 2026 | ||||||||||||
Interest rate | 7.00% | 7.00% | |||||||||||
Aggregate principal amount | $ 1,000,000,000 | ||||||||||||
Senior notes, interest rate basis | Interest on the Senior Notes is payable semi-annually on January 15 and July 15 of each year, commencing on January 15, 2019. | ||||||||||||
Senior Notes | |||||||||||||
Disclosure Of Long Term Debt [Line Items] | |||||||||||||
Carrying amount of long-term debt | $ 980,008,000 | ||||||||||||
Interest rate | 7.00% | 7.00% | |||||||||||
Aggregate principal amount | $ 1,000,000,000 | ||||||||||||
Carrying value of embedded derivative | 17,700 | ||||||||||||
Fair value of embedded derivative | 11,600 | ||||||||||||
USD Second Lien Term Loan | |||||||||||||
Disclosure Of Long Term Debt [Line Items] | |||||||||||||
Carrying amount of long-term debt | $ 56,632,000 | ||||||||||||
Interest rate | 8.69% | ||||||||||||
Aggregate principal amount | $ 95,000,000 | ||||||||||||
USD Second Lien Term Loan | Stars Interactive Group | |||||||||||||
Disclosure Of Long Term Debt [Line Items] | |||||||||||||
Termination costs on debt extinguishment | $ 0 | ||||||||||||
USD First Lien Term Loan | Stars Interactive Group | |||||||||||||
Disclosure Of Long Term Debt [Line Items] | |||||||||||||
Termination costs on debt extinguishment | $ 0 | ||||||||||||
LIBOR | |||||||||||||
Disclosure Of Long Term Debt [Line Items] | |||||||||||||
Floor rate | 0.00% | 0.00% | |||||||||||
EURIBOR | |||||||||||||
Disclosure Of Long Term Debt [Line Items] | |||||||||||||
Floor rate | 0.00% | 0.00% | |||||||||||
First Lien Term Loan | |||||||||||||
Disclosure Of Long Term Debt [Line Items] | |||||||||||||
Carrying amount of long-term debt | $ 4,567,000,000 | ||||||||||||
Senior Notes | |||||||||||||
Disclosure Of Long Term Debt [Line Items] | |||||||||||||
Carrying amount of long-term debt | 1,000,000,000 | ||||||||||||
Proceeds from issue of debt | 621,800,000 | ||||||||||||
Revolving Credit Facilities | |||||||||||||
Disclosure Of Long Term Debt [Line Items] | |||||||||||||
Carrying amount of long-term debt | 700,000,000 | 0 | |||||||||||
Drawings on revolving credit facility | $ 100,000,000 | ||||||||||||
Long term debt repayment date | Jul. 10, 2023 | ||||||||||||
Variation in interest rate margin | 3.25% | 3.25% | |||||||||||
Letter of credit issued | 74,200,000 | ||||||||||||
Current borrowings | 625,800,000 | ||||||||||||
Revolving Credit Facilities | Minimum | |||||||||||||
Disclosure Of Long Term Debt [Line Items] | |||||||||||||
Commitment fee percentage | 0.25% | ||||||||||||
Revolving Credit Facilities | Maximum | |||||||||||||
Disclosure Of Long Term Debt [Line Items] | |||||||||||||
Commitment fee percentage | 0.375% | ||||||||||||
USD First Lien Term Loan | |||||||||||||
Disclosure Of Long Term Debt [Line Items] | |||||||||||||
Carrying amount of long-term debt | $ 3,575,000,000 | ||||||||||||
Secured debt leverage ratio | 675.00% | ||||||||||||
Borrowings, maturity date | July 10, 2025 | ||||||||||||
USD First Lien Term Loan | LIBOR | |||||||||||||
Disclosure Of Long Term Debt [Line Items] | |||||||||||||
Percentage added to reference rate | 3.50% | 3.50% | |||||||||||
Previous Revolving Facility | |||||||||||||
Disclosure Of Long Term Debt [Line Items] | |||||||||||||
Carrying amount of long-term debt | $ 0 | ||||||||||||
EUR First Lien Term Loan | |||||||||||||
Disclosure Of Long Term Debt [Line Items] | |||||||||||||
Borrowings, maturity date | July 10, 2025 | ||||||||||||
EUR First Lien Term Loan | EURIBOR | |||||||||||||
Disclosure Of Long Term Debt [Line Items] | |||||||||||||
Carrying amount of long-term debt | € | € 850 | ||||||||||||
Percentage added to reference rate | 3.75% | 3.75% | |||||||||||
Put-call option | Senior Notes | |||||||||||||
Disclosure Of Long Term Debt [Line Items] | |||||||||||||
Percentage added to reference rate | 107.00% | 107.00% | |||||||||||
Interest rate | 100.00% | 100.00% | |||||||||||
Senior notes, Redemption date | Jul. 15, 2021 | Jul. 15, 2021 | |||||||||||
Put-call option | Maximum | Senior Notes | |||||||||||||
Disclosure Of Long Term Debt [Line Items] | |||||||||||||
Interest rate | 40.00% | 40.00% |
X | ||||||||||
- Definition The amount of outstanding funds that the entity is obligated to repay. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The adjustment to the basis (reference rate) used for calculation of the interest rate on borrowings. [Refer: Borrowings] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The interest rate on borrowings. [Refer: Borrowings] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The basis (reference rate) used for calculation of the interest rate on borrowings. [Refer: Borrowings] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The maturity of borrowings. [Refer: Borrowings] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition The date on which the acquirer obtains control of the acquiree in a business combination. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount of liabilities that are: (a) a contractual obligation: (i) to deliver cash or another financial asset to another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavourable to the entity; or (b) a contract that will, or may be, settled in the entity’s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to deliver a variable number of the entity’s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity’s own equity instruments. For this purpose, rights, options or warrants to acquire a fixed number of the entity’s own equity instruments for a fixed amount of any currency are equity instruments if the entity offers the rights, options or warrants pro rata to all of its existing owners of the same class of its own non-derivative equity instruments. Also, for those purposes the entity’s own equity instruments do not include puttable financial instruments that are classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity’s own equity instruments. As an exception, an instrument that meets the definition of a financial liability is classified as an equity instrument if it has all the features and meets the conditions in paragraphs 16A-16B or paragraphs 16C-16D of IAS 32. [Refer: Financial instruments, class [member]; Financial assets; Derivatives [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The gain (loss) arising from the difference between the carrying amount of the financial liability extinguished and the measurement of the consideration paid (equity instruments issued) to the creditor. [Refer: Carrying amount [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount of loans received. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The amount of notes and debentures issued by the entity. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The nominal or face amount of a financial instrument, used to calculate payments made on that instrument. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The percentage of voting equity interests acquired in a business combination. [Refer: Business combinations [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The cash inflow from the issuing of bonds, notes and debentures. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The amount of current borrowings. [Refer: Borrowings] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Additional shareholder loan by non-controlling interest. No definition available.
|
X | ||||||||||
- Definition Carrying value of embedded derivative. No definition available.
|
X | ||||||||||
- Definition Commitment fee percentage. No definition available.
|
X | ||||||||||
- Definition Description for repayment of term loan. No definition available.
|
X | ||||||||||
- Definition Discharged loan from shareholder No definition available.
|
X | ||||||||||
- Definition Disclosure of long term debt. No definition available.
|
X | ||||||||||
- Definition Drawings on revolving credit facility. No definition available.
|
X | ||||||||||
- Definition Equity contribution by noncontrolling interest. No definition available.
|
X | ||||||||||
- Definition Fair value of embedded derivative. No definition available.
|
X | ||||||||||
- Definition The floor rate associated with the long-term debt. No definition available.
|
X | ||||||||||
- Definition Loan outstanding balance. No definition available.
|
X | ||||||||||
- Definition Loans from noncontrolling interests. No definition available.
|
X | ||||||||||
- Definition Long term debt repayment date. No definition available.
|
X | ||||||||||
- Definition Percentage of aggregate principal amount. No definition available.
|
X | ||||||||||
- Definition Redemption date. No definition available.
|
X | ||||||||||
- Definition Repayment of loan. No definition available.
|
X | ||||||||||
- Definition Secured debt leverage ratio. No definition available.
|
X | ||||||||||
- Definition Termination costs on debt extinguishment. No definition available.
|
X | ||||||||||
- Definition Variation in interest rate margin. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
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- Details
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- Details
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- Details
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- Details
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- Details
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Long-Term Debt - Disclosure of the Movement of the Corporation's Long-Term Debt Balance (Details) - USD ($) $ in Thousands |
12 Months Ended | |
---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
|
Disclosure Of Long Term Debt [Line Items] | ||
Opening Balance | $ 2,358,569 | $ 2,428,579 |
Adjustment on adoption of IFRS 9 | (43,894) | |
New debt | 6,140,440 | 103,973 |
Debt repayments | (2,969,067) | (243,886) |
Adjustments to amortized cost * | (162,193) | (4,735) |
Interest Accretion ** | 169,143 | 18,267 |
Translation | (46,040) | 56,371 |
Closing | 5,446,958 | 2,358,569 |
Revolving Credit Facilities | ||
Disclosure Of Long Term Debt [Line Items] | ||
New debt | 100,000 | |
Debt repayments | (100,000) | |
Adjustments to amortized cost * | (699) | |
Interest Accretion ** | 699 | |
USD First Lien Term Loan | ||
Disclosure Of Long Term Debt [Line Items] | ||
New debt | 3,575,000 | |
Debt repayments | (17,875) | |
Adjustments to amortized cost * | (85,101) | |
Interest Accretion ** | 7,799 | |
Closing | 3,479,823 | |
EUR First Lien Term Loan | ||
Disclosure Of Long Term Debt [Line Items] | ||
New debt | 999,535 | |
Adjustments to amortized cost * | (23,823) | |
Interest Accretion ** | 1,365 | |
Translation | (25,097) | |
Closing | 951,980 | |
Senior Notes | ||
Disclosure Of Long Term Debt [Line Items] | ||
New debt | 1,000,000 | |
Adjustments to amortized cost * | (20,992) | |
Interest Accretion ** | 1,000 | |
Closing | 980,008 | |
Loan Payable to Non-controlling Interests | ||
Disclosure Of Long Term Debt [Line Items] | ||
New debt | 52,357 | |
Debt repayments | (6,167) | |
Adjustments to amortized cost * | (8,517) | |
Translation | (2,526) | |
Closing | 35,147 | |
Previous USD First Lien Term Loan | ||
Disclosure Of Long Term Debt [Line Items] | ||
Opening Balance | 1,848,397 | 1,965,928 |
Adjustment on adoption of IFRS 9 | (46,894) | |
New debt | 268,921 | |
Debt repayments | (2,164,575) | (125,442) |
Adjustments to amortized cost * | (17,984) | (3,906) |
Interest Accretion ** | 112,135 | 11,817 |
Closing | 1,848,397 | |
Previous EUR First Lien Term Loan | ||
Disclosure Of Long Term Debt [Line Items] | ||
Opening Balance | 453,540 | 296,198 |
Adjustment on adoption of IFRS 9 | (30,725) | |
New debt | 144,627 | 103,973 |
Debt repayments | (585,450) | (3,444) |
Adjustments to amortized cost * | (5,077) | (829) |
Interest Accretion ** | 41,502 | 1,271 |
Translation | (18,417) | 56,371 |
Closing | 453,540 | |
USD Second Lien Term Loan | ||
Disclosure Of Long Term Debt [Line Items] | ||
Opening Balance | 56,632 | 166,453 |
Adjustment on adoption of IFRS 9 | 33,725 | |
Debt repayments | (95,000) | (115,000) |
Interest Accretion ** | $ 4,643 | 5,179 |
Closing | $ 56,632 |
X | ||||||||||
- Definition The cash outflow for repayments of non-current borrowings. [Refer: Borrowings] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Adjustment on adoption of IFRS 9. No definition available.
|
X | ||||||||||
- Definition Adjustments to debt amortized cost. No definition available.
|
X | ||||||||||
- Definition Carrying amount of net debt. No definition available.
|
X | ||||||||||
- Definition Debt instrument translation. No definition available.
|
X | ||||||||||
- Definition Debt interest accretion. No definition available.
|
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- Definition Disclosure of long term debt. No definition available.
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- Definition New debt. No definition available.
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Long-Term Debt - Disclosure of the Movement of the Corporation's Long-Term Debt Balance (Parenthetical) (Details) $ in Millions |
12 Months Ended |
---|---|
Dec. 31, 2018
USD ($)
| |
Disclosure Of Long Term Debt [Abstract] | |
Deferred financing costs reclassified to prepaid expenses and other non-current assets | $ 6.8 |
Repayment of revolving credit facility | $ 100.0 |
X | ||||||||||
- Definition Deferred financing costs reclassified to prepaid expenses and other non-current assets. No definition available.
|
X | ||||||||||
- Definition Disclosure of long term debt. No definition available.
|
X | ||||||||||
- Definition Repayment of revolving credit facility. No definition available.
|
Long-Term Debt - Disclosure of Schedule of Principle Repayments of Long-Term Debt Over the Next Five Years (Details) $ in Thousands |
Dec. 31, 2018
USD ($)
|
---|---|
Disclosure Of Long Term Debt [Line Items] | |
Less than 1 Year | $ 35,750 |
1-2 Years | 70,897 |
2-3 Years | 35,750 |
3-4 Years | 35,750 |
4-5 Years | 35,750 |
Greater than 5 Years | 5,352,178 |
USD First Lien Term Loan | |
Disclosure Of Long Term Debt [Line Items] | |
Less than 1 Year | 35,750 |
1-2 Years | 35,750 |
2-3 Years | 35,750 |
3-4 Years | 35,750 |
4-5 Years | 35,750 |
Greater than 5 Years | 3,378,375 |
EUR First Lien Term Loan | |
Disclosure Of Long Term Debt [Line Items] | |
Greater than 5 Years | 973,803 |
Senior Notes | |
Disclosure Of Long Term Debt [Line Items] | |
Greater than 5 Years | 1,000,000 |
Loan Payable to Non-controlling Interests | |
Disclosure Of Long Term Debt [Line Items] | |
1-2 Years | $ 35,147 |
X | ||||||||||
- Definition Disclosure of long term debt. No definition available.
|
X | ||||||||||
- Definition Long-term debt, repayments of principal in five years and greater. No definition available.
|
X | ||||||||||
- Definition Long-term debt, repayments of principal in next twelve months. No definition available.
|
X | ||||||||||
- Definition Long-term debt, repayments of principal in year five. No definition available.
|
X | ||||||||||
- Definition Long-term debt, repayments of principal in year four. No definition available.
|
X | ||||||||||
- Definition Long-term debt, repayments of principal in year three. No definition available.
|
X | ||||||||||
- Definition Long-term debt, repayments of principal in year two. No definition available.
|
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- Details
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- Details
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Derivatives and Hedge Accounting - Additional Information (Details) € in Millions, £ in Millions |
12 Months Ended | |||||
---|---|---|---|---|---|---|
Jul. 10, 2018
USD ($)
|
Apr. 24, 2018 |
Dec. 31, 2018
USD ($)
€ / $
GBP_per_USD
|
Dec. 31, 2017
USD ($)
|
Dec. 31, 2018
EUR (€)
|
Dec. 31, 2018
GBP (£)
|
|
Disclosure Of Derivatives [Line Items] | ||||||
Cross currency swap agreement notional amount | € 1,120 | £ 1,000 | ||||
Swap agreements maturity period | 2023-07 | |||||
Fixed foreign exchange rate | GBP_per_USD | 0.889 | |||||
Euro interest average rate | 5.40% | 5.40% | 5.40% | |||
Cross currency interest rate swap settlement amount | $ 1,390,000,000 | |||||
Derivative liabilities | 22,561,000 | $ 121,881,000 | ||||
Realized loss included in foreign exchange earnings | (68,406,000) | (2,838,000) | ||||
Accumulated other comprehensive loss | 17,599,000 | (86,430,000) | ||||
Cash Flow Hedging Reserve | ||||||
Disclosure Of Derivatives [Line Items] | ||||||
Accumulated other comprehensive loss | 11,600 | |||||
Cumulative Translation Reserve | ||||||
Disclosure Of Derivatives [Line Items] | ||||||
Accumulated other comprehensive loss | 60,600 | |||||
Level 3 | ||||||
Disclosure Of Derivatives [Line Items] | ||||||
Derivative liabilities | 16,285,000 | $ 10,119,000 | ||||
Swap Agreements | ||||||
Disclosure Of Derivatives [Line Items] | ||||||
Cross currency swap agreement notional amount | $ 2,330,000,000 | € 1,990 | ||||
Fixed foreign exchange rate | € / $ | 1.167 | |||||
Euro interest average rate | 3.60% | 3.60% | 3.60% | |||
First Lien Term Loan | ||||||
Disclosure Of Derivatives [Line Items] | ||||||
Cross currency swap agreement notional amount | $ 700,000,000 | |||||
Swap agreements maturity period | 2023-07 | |||||
First Lien Term Loan | LIBOR | ||||||
Disclosure Of Derivatives [Line Items] | ||||||
Interest rate | 2.82% | 2.82% | 2.82% | |||
First Lien Term Loan | LIBOR | EUR Cross-Currency Interest Rate Swaps | ||||||
Disclosure Of Derivatives [Line Items] | ||||||
Percentage added to reference rate | 3.50% | 3.50% | 3.50% | |||
Floor rate | 0.00% | 0.00% | 0.00% | |||
First Lien Term Loan | Floating Interest Rate | EUR Cross-Currency Interest Rate Swaps | Minimum | ||||||
Disclosure Of Derivatives [Line Items] | ||||||
Interest rate | 3.50% | 3.50% | 3.50% | |||
SBG | ||||||
Disclosure Of Derivatives [Line Items] | ||||||
Realized loss included in foreign exchange earnings | $ 61,500,000 | |||||
SBG | Cross-currency Swap and Interest Rate Swap | ||||||
Disclosure Of Derivatives [Line Items] | ||||||
Derivative financial instrument cash settled | $ 1,000,000 | |||||
SBG | Swap Agreement | ||||||
Disclosure Of Derivatives [Line Items] | ||||||
Derivative financial instrument cash payment | $ 61,100,000 | 61,100,000 | ||||
BetEasy | ||||||
Disclosure Of Derivatives [Line Items] | ||||||
Percentage of equity interest | 18.00% | |||||
BetEasy | Put-call option | ||||||
Disclosure Of Derivatives [Line Items] | ||||||
Proportion of additional ownership interest | 18.00% | |||||
Percentage of equity interest | 20.00% | |||||
Percentage of remaining interests held by minority interest shareholders | 20.00% | |||||
BetEasy | Level 3 | ||||||
Disclosure Of Derivatives [Line Items] | ||||||
Implied credit spread at issuance | 3.80% | 4.60% | ||||
Fair value of the Embedded Derivative | $ 17,700,000 | $ 11,600,000 |
X | ||||||||||
- Definition The amount of accumulated items of income and expense (including reclassification adjustments) that are not recognised in profit or loss as required or permitted by other IFRSs. [Refer: IFRSs [member]; Other comprehensive income] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The average exchange rate used by the entity. Exchange rate is the ratio of exchange for two currencies. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition The average rate of a hedging instrument. [Refer: Hedging instruments [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The adjustment to the basis (reference rate) used for calculation of the interest rate on borrowings. [Refer: Borrowings] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The interest rate on borrowings. [Refer: Borrowings] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The fair value of a credit derivative. [Refer: At fair value [member]; Derivatives [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount of financial liabilities classified as derivative instruments. [Refer: Financial assets; Derivatives [member]] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The amount of contractual undiscounted cash flows in relation to derivative financial liabilities. [Refer: Derivative financial liabilities] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount of exchange differences recognised in profit or loss that arise from foreign currency transactions, excluding those arising on financial instruments measured at fair value through profit or loss in accordance with IFRS 9. [Refer: At fair value [member]; Financial instruments, class [member]] Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- Definition The proportion of ownership interest in an associate attributable to the entity. [Refer: Associates [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The proportion of ownership interests in a subsidiary held by non-controlling interests. [Refer: Subsidiaries [member]; Non-controlling interests] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Cross currency interest rate swap settlement amount. No definition available.
|
X | ||||||||||
- Definition Cross currency swap agreement amount. No definition available.
|
X | ||||||||||
- Definition Derivative financial instrument cash payment. No definition available.
|
X | ||||||||||
- Definition Line item represent derivatives. No definition available.
|
X | ||||||||||
- Definition Floor rate. No definition available.
|
X | ||||||||||
- Definition Implied credit spread at issuance. No definition available.
|
X | ||||||||||
- Definition Proportion of remaining ownership interests held by noncontrolling interests. No definition available.
|
X | ||||||||||
- Definition Swap agreements maturity period. No definition available.
|
X | ||||||||||
- Details
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- Details
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- Details
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- Details
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- Details
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Derivatives and Hedge Accounting - Summary of Fair Value of Derivatives (Details) - USD ($) $ in Thousands |
Dec. 31, 2018 |
Dec. 31, 2017 |
---|---|---|
Disclosure Of Financial Instruments [Line Items] | ||
Derivative Assets | $ 54,583 | $ 2,037 |
Derivative Liabilities | 22,561 | 121,881 |
Fair Value Hedges | ||
Disclosure Of Financial Instruments [Line Items] | ||
Derivative Assets | 42,983 | |
Derivative Liabilities | 6,068 | 111,762 |
Fair Value Hedges | Derivatives Designated in Cash Flow Hedges | ||
Disclosure Of Financial Instruments [Line Items] | ||
Derivative Assets | 41,117 | |
Derivative Liabilities | 6,068 | 111,762 |
Fair Value Hedges | Derivatives Designated in Net Investment Hedge | ||
Disclosure Of Financial Instruments [Line Items] | ||
Derivative Assets | 1,866 | |
Fair Value Hedges | Derivatives Held for Risk Management Not Designated in Hedges | ||
Disclosure Of Financial Instruments [Line Items] | ||
Derivative Assets | 11,600 | 2,037 |
Derivative Liabilities | 16,493 | 779 |
Fair Value Hedges | Swap Agreements | Derivatives Designated in Cash Flow Hedges | ||
Disclosure Of Financial Instruments [Line Items] | ||
Derivative Assets | 41,117 | |
Derivative Liabilities | 1,096 | 111,762 |
Fair Value Hedges | Swap Agreements | Derivatives Designated in Net Investment Hedge | ||
Disclosure Of Financial Instruments [Line Items] | ||
Derivative Assets | 1,866 | |
Fair Value Hedges | Interest rate swap | Derivatives Designated in Cash Flow Hedges | ||
Disclosure Of Financial Instruments [Line Items] | ||
Derivative Liabilities | 4,972 | |
Fair Value Hedges | Forward Contracts | Derivatives Held for Risk Management Not Designated in Hedges | ||
Disclosure Of Financial Instruments [Line Items] | ||
Derivative Assets | 2,037 | |
Derivative Liabilities | 208 | |
Fair Value Hedges | Unsettled Bets | Derivatives Held for Risk Management Not Designated in Hedges | ||
Disclosure Of Financial Instruments [Line Items] | ||
Derivative Liabilities | 16,285 | $ 779 |
Fair Value Hedges | Embedded Derivative | Derivatives Held for Risk Management Not Designated in Hedges | ||
Disclosure Of Financial Instruments [Line Items] | ||
Derivative Assets | $ 11,600 |
X | ||||||||||
- Definition The amount of financial assets classified as derivative instruments. [Refer: Financial assets; Derivatives [member]] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The amount of financial liabilities classified as derivative instruments. [Refer: Financial assets; Derivatives [member]] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
|
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- Details
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- Details
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- Details
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Derivatives and Hedge Accounting - Summary of Effects of Cash flow Hedges and Net Investment Hedges (Details) $ in Thousands |
12 Months Ended | |||||
---|---|---|---|---|---|---|
Dec. 31, 2018
USD ($)
| ||||||
Disclosure Of Derivatives [Line Items] | ||||||
Change in value of hedged items for ineffectiveness measurement | $ (104,029) | |||||
Change in fair value of hedging instruments for ineffectiveness measurement | 104,029 | |||||
Hedging gains (losses) recognized in other comprehensive income | (104,029) | |||||
Net change in other comprehensive income (loss) | (104,029) | |||||
Cash Flow Hedges | ||||||
Disclosure Of Derivatives [Line Items] | ||||||
Change in value of hedged items for ineffectiveness measurement | 100,620 | |||||
Change in fair value of hedging instruments for ineffectiveness measurement | (85,711) | |||||
Hedge ineffectiveness | 14,909 | [1] | ||||
Hedging gains (losses) recognized in other comprehensive income | 41,201 | |||||
Amount reclassified from accumulated other comprehensive income (loss) to earnings | 45,271 | [2] | ||||
Net change in other comprehensive income (loss) | (4,070) | |||||
Cash Flow Hedges | Floating Interest Rate | ||||||
Disclosure Of Derivatives [Line Items] | ||||||
Change in value of hedged items for ineffectiveness measurement | (4,972) | |||||
Change in fair value of hedging instruments for ineffectiveness measurement | 4,972 | |||||
Hedging gains (losses) recognized in other comprehensive income | (4,972) | |||||
Net change in other comprehensive income (loss) | (4,972) | |||||
Cash Flow Hedges | Floating Rate Foreign Currency Debt | ||||||
Disclosure Of Derivatives [Line Items] | ||||||
Change in value of hedged items for ineffectiveness measurement | 105,592 | |||||
Change in fair value of hedging instruments for ineffectiveness measurement | (90,683) | |||||
Hedge ineffectiveness | 14,909 | [1] | ||||
Hedging gains (losses) recognized in other comprehensive income | 46,173 | |||||
Amount reclassified from accumulated other comprehensive income (loss) to earnings | 45,271 | [2] | ||||
Net change in other comprehensive income (loss) | $ 902 | |||||
|
X | ||||||||||
- Definition The gain (loss) on the change in fair value of the hedged item used as a basis for recognising hedge ineffectiveness. Hedge ineffectiveness is the extent to which the changes in the fair value or the cash flows of the hedging instrument are greater or less than those on the hedged item. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The gain (loss) on the change in fair value of the hedging instrument used as a basis for recognising hedge ineffectiveness. Hedge ineffectiveness is the extent to which the changes in the fair value or the cash flows of the hedging instrument are greater or less than those on the hedged item. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The gain (loss) on hedge ineffectiveness. Hedge ineffectiveness is the extent to which the changes in the fair value or the cash flows of the hedging instrument are greater or less than those on the hedged item. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The gain (loss) recognised in other comprehensive income on hedge ineffectiveness. [Refer: Gain (loss) on hedge ineffectiveness] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The gain (loss) recognised in profit or loss on hedge ineffectiveness. [Refer: Gain (loss) on hedge ineffectiveness] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amounts reclassified from accumulated other comprehensive income (loss) to earnings. No definition available.
|
X | ||||||||||
- Definition Line item represent derivatives. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
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X | ||||||||||
- Details
|
Derivatives and Hedge Accounting - Summary of Reconciliation of Accumulated Other Comprehensive Income (Details) $ in Thousands |
12 Months Ended |
---|---|
Dec. 31, 2018
USD ($)
| |
Disclosure Of Derivatives [Line Items] | |
Accumulated other comprehensive income (loss), beginning of year | $ 86,430 |
Net changes in other comprehensive income (loss) | (104,029) |
Accumulated other comprehensive income (loss), end of year | (17,599) |
Accumulated other comprehensive income (loss) on designated hedges | (66,749) |
Accumulated other comprehensive income (loss) on de-designated hedges | 49,150 |
Cash Flow Hedges | |
Disclosure Of Derivatives [Line Items] | |
Accumulated other comprehensive income (loss), beginning of year | (33,983) |
Net changes in other comprehensive income (loss) | (4,070) |
Accumulated other comprehensive income (loss), end of year | (38,053) |
Accumulated other comprehensive income (loss) on designated hedges | (26,479) |
Accumulated other comprehensive income (loss) on de-designated hedges | (11,574) |
Cash Flow Hedges | Floating Interest Rate | |
Disclosure Of Derivatives [Line Items] | |
Net changes in other comprehensive income (loss) | (4,972) |
Accumulated other comprehensive income (loss), end of year | (4,972) |
Accumulated other comprehensive income (loss) on designated hedges | (4,972) |
Cash Flow Hedges | Floating Rate Foreign Currency Debt | |
Disclosure Of Derivatives [Line Items] | |
Accumulated other comprehensive income (loss), beginning of year | (33,983) |
Net changes in other comprehensive income (loss) | 902 |
Accumulated other comprehensive income (loss), end of year | (33,081) |
Accumulated other comprehensive income (loss) on designated hedges | (21,507) |
Accumulated other comprehensive income (loss) on de-designated hedges | $ (11,574) |
X | ||||||||||
- Definition The amount of accumulated items of income and expense (including reclassification adjustments) that are not recognised in profit or loss as required or permitted by other IFRSs. [Refer: IFRSs [member]; Other comprehensive income] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Accumulated other comprehensive income (loss) on de-designated hedges. No definition available.
|
X | ||||||||||
- Definition Accumulated other comprehensive income (loss) on designated hedges. No definition available.
|
X | ||||||||||
- Definition Line item represent derivatives. No definition available.
|
X | ||||||||||
- Definition Net changes in other comprehensive income (loss). No definition available.
|
X | ||||||||||
- Details
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- Details
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X | ||||||||||
- Details
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Commitments - Additional Information (Details) $ in Millions |
Dec. 31, 2018
USD ($)
|
---|---|
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items] | |
Future minimum lease payments under non-cancellable operating leases | $ 346.4 |
Future minimum lease receipts under non-cancellable operating leases | 14.8 |
Revolving Credit Facilities | |
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items] | |
Letter of credit issued | $ 74.2 |
X | ||||||||||
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
|
X | ||||||||||
- Definition The amount of future minimum lease payments payable under non-cancellable operating leases. Minimum lease payments are payments over the lease term that the lessee is or can be required to make, excluding contingent rent, costs for services and taxes to be paid by, and reimbursed to, the lessor, together with: (a) for a lessee, any amounts guaranteed by the lessee or by a party related to the lessee; or (b) for a lessor, any residual value guaranteed to the lessor by: (i) the lessee; (ii) a party related to the lessee; or (iii) a third party unrelated to the lessor that is financially capable of discharging the obligations under the guarantee. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount of future minimum lease payments receivable under non-cancellable operating leases. Minimum lease payments are payments over the lease term that the lessee is or can be required to make, excluding contingent rent, costs for services and taxes to be paid by, and reimbursed to, the lessor, together with: (a) for a lessee, any amounts guaranteed by the lessee or by a party related to the lessee; or (b) for a lessor, any residual value guaranteed to the lessor by: (i) the lessee; (ii) a party related to the lessee; or (iii) a third party unrelated to the lessor that is financially capable of discharging the obligations under the guarantee. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount of notes and debentures issued by the entity. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Details
|
Commitments - Schedule Future Minimum Lease Payments Under Non-cancellable Operating Leases (Details) $ in Thousands |
Dec. 31, 2018
USD ($)
|
---|---|
Disclosure Of Finance Lease And Operating Lease By Lessee [Line Items] | |
Total | $ 346,400 |
Within One Year | |
Disclosure Of Finance Lease And Operating Lease By Lessee [Line Items] | |
Lease obligations | 61,423 |
Other contractual commitments | 40,011 |
Total | 101,434 |
Later Than One Year but Not Later Than 5 Years | |
Disclosure Of Finance Lease And Operating Lease By Lessee [Line Items] | |
Lease obligations | 154,374 |
Other contractual commitments | 54,054 |
Total | 208,428 |
More Than 5 Years | |
Disclosure Of Finance Lease And Operating Lease By Lessee [Line Items] | |
Lease obligations | 26,013 |
Other contractual commitments | 10,561 |
Total | $ 36,574 |
X | ||||||||||
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
|
X | ||||||||||
- Definition The amount of payments over the finance lease term that the lessee is or can be required to make, excluding contingent rent, costs for services and taxes to be paid by, and reimbursed to, the lessor, together with any amounts guaranteed by the lessee or by a party related to the lessee. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount of future minimum lease payments payable under non-cancellable operating leases. Minimum lease payments are payments over the lease term that the lessee is or can be required to make, excluding contingent rent, costs for services and taxes to be paid by, and reimbursed to, the lessor, together with: (a) for a lessee, any amounts guaranteed by the lessee or by a party related to the lessee; or (b) for a lessor, any residual value guaranteed to the lessor by: (i) the lessee; (ii) a party related to the lessee; or (iii) a third party unrelated to the lessor that is financially capable of discharging the obligations under the guarantee. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Minimum other contractual lease commitments. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Commitments - Schedule Future Minimum Lease Receipts Under Non-cancellable Operating Leases (Details) $ in Thousands |
Dec. 31, 2018
USD ($)
|
---|---|
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items] | |
Total | $ 14,800 |
Within One Year | |
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items] | |
Lease obligations | 1,863 |
Total | 1,863 |
Later Than One Year but Not Later Than 5 Years | |
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items] | |
Lease obligations | 7,452 |
Total | 7,452 |
More Than 5 Years | |
Disclosure Of Finance Lease And Operating Lease By Lessor [Line Items] | |
Lease obligations | 5,533 |
Total | $ 5,533 |
X | ||||||||||
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
|
X | ||||||||||
- Definition The amount of future minimum lease payments receivable under non-cancellable operating leases. Minimum lease payments are payments over the lease term that the lessee is or can be required to make, excluding contingent rent, costs for services and taxes to be paid by, and reimbursed to, the lessor, together with: (a) for a lessee, any amounts guaranteed by the lessee or by a party related to the lessee; or (b) for a lessor, any residual value guaranteed to the lessor by: (i) the lessee; (ii) a party related to the lessee; or (iii) a third party unrelated to the lessor that is financially capable of discharging the obligations under the guarantee. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Minimum finance lease payments receivable. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Accounts Payable And Other Liabilities - Schedule of Accounts Payable and other liabilities (Details) - USD ($) $ in Thousands |
Dec. 31, 2018 |
Dec. 31, 2017 |
|||
---|---|---|---|---|---|
Disclosure Of Other Payables [Abstract] | |||||
Accounts payable and accrued liabilities | $ 282,630 | $ 98,493 | |||
VAT payable | 18,792 | 18,757 | |||
Customer loyalty rewards | 24,787 | 29,508 | |||
Employee benefits payable | 57,143 | 39,050 | |||
Dormant funds | 7,308 | 8,379 | |||
Accrued interest on Senior Notes | 33,347 | ||||
Total accounts payable and other current liabilities | 424,007 | $ 194,187 | [1] | ||
Long-term lease liability | 2,088 | ||||
Deferred contingent payment | 77,628 | ||||
Total long-term payables | $ 79,716 | ||||
|
X | ||||||||||
- Definition The amount of current provisions for employee benefits. [Refer: Provisions for employee benefits] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount of current value added tax payables. [Refer: Value added tax payables] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Accounts payable and accrued liabilities. No definition available.
|
X | ||||||||||
- Definition Accounts payable and other liabilities. No definition available.
|
X | ||||||||||
- Definition Accrued interest on senior notes. No definition available.
|
X | ||||||||||
- Definition Payable of customer loyalty rewards. No definition available.
|
X | ||||||||||
- Definition Deferred contingent payment. No definition available.
|
X | ||||||||||
- Definition Disclosure of other payables. No definition available.
|
X | ||||||||||
- Definition Dormant funds. No definition available.
|
X | ||||||||||
- Definition Long-term lease liability. No definition available.
|
X | ||||||||||
- Definition Other long-term liabilities. No definition available.
|
Provisions - Carrying Amounts and Movements in Provisions (Details) - USD ($) $ in Thousands |
12 Months Ended | ||||
---|---|---|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
||||
Disclosure Of Other Provisions [Line Items] | |||||
Balance Opening | $ 20,683 | $ 221,722 | |||
Provisions acquired in business combinations | 15,260 | ||||
Recognized | 8,164 | ||||
Adjustment to provision recognized | 56,388 | 47,210 | |||
Payments | (55,908) | (250,942) | |||
Accretion of discount | 411 | 2,887 | |||
Reclassification | (1,444) | ||||
Foreign exchange translation losses | (1,807) | 1,250 | |||
Balance Ending | 43,191 | 20,683 | |||
Current portion | 39,189 | 17,590 | [1] | ||
Non-current portion | 4,002 | 3,093 | [1] | ||
Player Bonuses and Jackpots | |||||
Disclosure Of Other Provisions [Line Items] | |||||
Balance Opening | 4,265 | 1,571 | |||
Provisions acquired in business combinations | 8,349 | ||||
Adjustment to provision recognized | 55,734 | 48,146 | |||
Payments | (48,902) | (44,121) | |||
Reclassification | (1,444) | ||||
Foreign exchange translation losses | (862) | 113 | |||
Balance Ending | 18,584 | 4,265 | |||
Current portion | 18,584 | 4,265 | |||
Deferred Payment Provision | |||||
Disclosure Of Other Provisions [Line Items] | |||||
Balance Opening | 6,300 | 202,515 | |||
Adjustment to provision recognized | (815) | ||||
Payments | (197,510) | ||||
Accretion of discount | 2,048 | ||||
Foreign exchange translation losses | 62 | ||||
Balance Ending | 6,300 | 6,300 | |||
Current portion | 6,300 | 6,300 | |||
Restructuring Provision | |||||
Disclosure Of Other Provisions [Line Items] | |||||
Provisions acquired in business combinations | 1,614 | ||||
Recognized | 8,164 | ||||
Foreign exchange translation losses | (65) | ||||
Balance Ending | 9,713 | ||||
Current portion | 9,713 | ||||
Other | |||||
Disclosure Of Other Provisions [Line Items] | |||||
Balance Opening | 10,118 | 17,636 | |||
Provisions acquired in business combinations | 5,297 | ||||
Adjustment to provision recognized | 654 | (121) | |||
Payments | (7,006) | (9,311) | |||
Accretion of discount | 411 | 839 | |||
Foreign exchange translation losses | (880) | 1,075 | |||
Balance Ending | 8,594 | 10,118 | |||
Current portion | 4,592 | 7,025 | |||
Non-current portion | $ 4,002 | $ 3,093 | |||
|
X | ||||||||||
- Definition The increase in other provisions resulting from acquisitions through business combinations. [Refer: Business combinations [member]; Other provisions] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The amount of current provisions. [Refer: Provisions] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
|
X | ||||||||||
- Definition The increase (decrease) in other provisions resulting from foreign currency exchange rate changes on provisions measured in a currency different from the entity's presentation currency. [Refer: Other provisions] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The amount of non-current provisions. [Refer: Provisions] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount used (ie incurrent and charged against the provision) for other provisions. [Refer: Other provisions] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount of liabilities of uncertain timing or the amount recognised when: (a) the entity has a present obligation (legal or constructive) as a result of a past event; (b) it is probable (ie more likely than not) that an outflow of resources embodying economic benefits will be required to settle the obligation; and (c) a reliable estimate can be made of the amount of the obligation. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Adjustment to provision recognized. No definition available.
|
X | ||||||||||
- Definition Other provisions accretion of discount. No definition available.
|
X | ||||||||||
- Definition Other provisions reclassification. No definition available.
|
X | ||||||||||
- Definition Other provisions recognized. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Customer Deposits - Summary of Customer Deposits Segregation (Details) - USD ($) $ in Thousands |
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
|||
---|---|---|---|---|---|---|
Disclosure Of Customer Deposits [Line Items] | ||||||
Cash and cash equivalents | $ 721,076 | $ 510,323 | [1] | $ 267,684 | ||
Current investments | 103,153 | 122,668 | ||||
Total | 431,376 | 349,766 | ||||
Customer deposits | 423,739 | 349,766 | [1] | |||
Customer Deposits | ||||||
Disclosure Of Customer Deposits [Line Items] | ||||||
Cash and cash equivalents | 328,223 | 227,098 | [1] | |||
Current investments | $ 103,153 | $ 122,668 | ||||
|
X | ||||||||||
- Definition The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount of current deposits from customers. [Refer: Deposits from customers] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The amount of current investments. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Deposits from customer. No definition available.
|
X | ||||||||||
- Definition Disclosure of customer deposits. No definition available.
|
X | ||||||||||
- Details
|
Share Capital - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands |
12 Months Ended | |||||||
---|---|---|---|---|---|---|---|---|
Jun. 26, 2018 |
Jun. 16, 2018 |
Dec. 31, 2018 |
Dec. 31, 2017 |
Jul. 10, 2018 |
Apr. 25, 2018 |
Apr. 24, 2018 |
Feb. 27, 2018 |
|
Disclosure Of Classes Of Share Capital [Line Items] | ||||||||
Number of common shares in the authorized share capital | unlimited | |||||||
Number of convertible preferred shares in the authorized share capital | unlimited | |||||||
Number of shares issued and fully paid | 273,177,244 | 147,947,874 | ||||||
Public offering of common shares | $ 38.00 | |||||||
Common stock shares sold | 17,000,000 | |||||||
Net proceeds excluding over-allotment | $ 621,800 | |||||||
Purchase additional common shares | 1,875,000 | |||||||
Conversion of preference share into common stock | $ 52.7085 | |||||||
Cancellation of preferred shares | $ 51,999,623,000 | |||||||
Number of common shares issued upon exercise of options | 1,731,761 | 2,899,184 | ||||||
Cash consideration received upon exercise of options | $ 31,000 | $ 16,600 | ||||||
Number of common shares issued upon settlement of equity-based awards | 60,099 | |||||||
Number of common shares issued upon exercise of warrants | 2,422,944 | |||||||
Number of warrants exercised | 4,000,000 | |||||||
Number of outstanding warrants | 0 | |||||||
Fair value of warrants measured using valuation technique | $ 14,700 | |||||||
Common shares issued upon voluntary conversion | 8,013,887 | |||||||
Number of preferred shares convertible into common shares | 152,698 | |||||||
Fair value of converted preferred shares | $ 114,900 | |||||||
Common shares issued upon voluntary conversion sold in equity offering | 8,000,000 | |||||||
BetEasy | ||||||||
Disclosure Of Classes Of Share Capital [Line Items] | ||||||||
Number of common stock issued | 3,115,344 | |||||||
Newly issued common shares consideration | $ 96,400 | $ 96,400 | ||||||
Percentage of equity interests acquired | 18.00% | 80.00% | 18.00% | 62.00% | ||||
SBG | ||||||||
Disclosure Of Classes Of Share Capital [Line Items] | ||||||||
Number of common stock issued | 37,934,054 | |||||||
Newly issued common shares consideration | $ 1,380,000 | |||||||
Percentage of equity interests acquired | 100.00% | |||||||
Chartwell | ||||||||
Disclosure Of Classes Of Share Capital [Line Items] | ||||||||
Cancellation of common stock related to acquisition | 76,437 | |||||||
Black-Scholes Valuation Model | ||||||||
Disclosure Of Classes Of Share Capital [Line Items] | ||||||||
Fair value of options measured using valuation technique | $ 5,800 | $ 5,300 | ||||||
Black-Scholes Valuation Model | Equity-based Award Settlement | ||||||||
Disclosure Of Classes Of Share Capital [Line Items] | ||||||||
Fair value of options measured using valuation technique | $ 1,200 | |||||||
Common Shares | ||||||||
Disclosure Of Classes Of Share Capital [Line Items] | ||||||||
Common stock shares sold | 8,000,000 | |||||||
Net proceeds excluding over-allotment | $ 68,600 | |||||||
Purchase additional common shares | 1,875,000 | |||||||
Issue of Common Shares in connection with market access agreement, shares | 1,076,658 | |||||||
Issue of Common Shares in connection with market access agreement | $ 20,661 | |||||||
Common Shares | Eldorado Resorts Inc | ||||||||
Disclosure Of Classes Of Share Capital [Line Items] | ||||||||
Issue of Common Shares in connection with market access agreement, shares | 1,076,658 | |||||||
Issue of Common Shares in connection with market access agreement | $ 20,700 |
X | ||||||||||
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
|
X | ||||||||||
- Definition The fair value, at the acquisition date, of equity interests of the acquirer transferred as consideration in a business combination. [Refer: Business combinations [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The number of shares issued by the entity. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The number of shares issued by the entity, for which full payment has been received. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The percentage of voting equity interests acquired in a business combination. [Refer: Business combinations [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Additional common shares purchased. No definition available.
|
X | ||||||||||
- Definition Cancellation of common stock related to acquisition. No definition available.
|
X | ||||||||||
- Definition Cancellation of preferred shares. No definition available.
|
X | ||||||||||
- Definition Cash consideration received upon exercise of common share options. No definition available.
|
X | ||||||||||
- Definition Common shares issued upon voluntary conversion. No definition available.
|
X | ||||||||||
- Definition Common shares issued upon voluntary conversion sold in equity offering. No definition available.
|
X | ||||||||||
- Definition Common stock shares sold. No definition available.
|
X | ||||||||||
- Definition Conversion of preference share into common stock. No definition available.
|
X | ||||||||||
- Definition Fair value of converted preferred shares. No definition available.
|
X | ||||||||||
- Definition Fair value of options measured using valuation technique. No definition available.
|
X | ||||||||||
- Definition Fair value of warrants measured using valuation technique. No definition available.
|
X | ||||||||||
- Definition Increase (decrease) in connection with market access agreement. No definition available.
|
X | ||||||||||
- Definition Increase (decrease) in number of shares through connection with market access agreement. No definition available.
|
X | ||||||||||
- Definition Net proceeds. No definition available.
|
X | ||||||||||
- Definition Number of common shares In authorised capital. No definition available.
|
X | ||||||||||
- Definition Number of common shares issued upon exercise of options. No definition available.
|
X | ||||||||||
- Definition Number of common shares issued upon exercise of warrants. No definition available.
|
X | ||||||||||
- Definition Number of common shares issued upon settlement of equity based award. No definition available.
|
X | ||||||||||
- Definition Number of convertible preferred shares in authorised capital. No definition available.
|
X | ||||||||||
- Definition Number of preferred shares convertible into common shares. No definition available.
|
X | ||||||||||
- Definition Number of warrants exercised. No definition available.
|
X | ||||||||||
- Definition Number of warrants outstanding. No definition available.
|
X | ||||||||||
- Definition Underwritten public offering price per share. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Share Capital - Summary of Share Capital (Details) - USD ($) $ in Thousands |
12 Months Ended | |||||
---|---|---|---|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
|||||
Disclosure Of Classes Of Share Capital [Line Items] | ||||||
Beginning balance | $ 2,303,431 | [1] | $ 2,201,728 | |||
Issue of Common Shares in connection with acquired subsidiaries | 1,477,478 | |||||
Equity fees | (5,413) | |||||
Reversal of 2014 deferred tax | (3,747) | |||||
Ending balance | $ 4,153,400 | $ 2,303,431 | [1] | |||
Common Shares | ||||||
Disclosure Of Classes Of Share Capital [Line Items] | ||||||
Beginning balance, shares | 147,947,874 | 145,101,127 | ||||
Exercise of stock options and other equity awards, shares | 1,791,860 | 2,923,184 | ||||
Exercise of warrants, shares | 2,422,944 | |||||
Repurchase of Common Shares, shares | (76,437) | |||||
Conversion of Preference Shares, shares | 60,013,510 | |||||
Issuance of Common Shares in connection with acquired subsidiaries, shares | 41,049,398 | |||||
Issuance of Common Shares in connection with Equity Offering, shares | 18,875,000 | |||||
Issue of Common Shares in connection with market access agreement, shares | 1,076,658 | |||||
Ending balance, shares | 273,177,244 | 147,947,874 | ||||
Beginning balance | $ 1,199,834 | $ 1,178,404 | ||||
Exercise of stock options and other equity awards | 38,048 | 21,923 | ||||
Repurchase of Common Shares | (493) | |||||
Exercise of warrants | 14,688 | |||||
Conversion of Preferred Shares to Common Shares | 684,385 | |||||
Issue of Common Shares in connection with acquired subsidiaries | 1,477,478 | |||||
Issuance of Common Shares in connection with Equity Offering | 690,353 | |||||
Issue of Common Shares in connection with market access agreement | 20,661 | |||||
Equity fees | (5,413) | |||||
Reversal of 2014 deferred tax | (3,747) | |||||
Ending balance | $ 4,116,287 | $ 1,199,834 | ||||
Preferred Shares | ||||||
Disclosure Of Classes Of Share Capital [Line Items] | ||||||
Beginning balance, shares | 1,139,249 | 1,139,249 | ||||
Conversion of Preference Shares, shares | (1,139,249) | |||||
Ending balance, shares | 1,139,249 | |||||
Beginning balance | $ 684,385 | $ 684,385 | ||||
Conversion of Preferred Shares to Common Shares | $ (684,385) | |||||
Ending balance | $ 684,385 | |||||
|
X | ||||||||||
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
|
X | ||||||||||
- Definition The amount of residual interest in the assets of the entity after deducting all its liabilities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The increase (decrease) in equity resulting from the acquisition of subsidiaries. [Refer: Subsidiaries [member]] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The increase (decrease) in equity resulting from the conversion of convertible instruments. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The increase (decrease) in equity resulting from the exercise of warrants. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The number of shares that have been authorised and issued, reduced by treasury shares held. [Refer: Treasury shares] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The decrease in equity resulting from the purchase of treasury shares. [Refer: Treasury shares] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The amount of cost related to the issuance of shares. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Increase (decrease) in connection with market access agreement. No definition available.
|
X | ||||||||||
- Definition Increase (decrease) in number of shares through acquisition of subsidiary. No definition available.
|
X | ||||||||||
- Definition Increase (decrease) in number of shares through connection with market access agreement. No definition available.
|
X | ||||||||||
- Definition Increase (decrease) in number of shares through conversion of convertible instruments. No definition available.
|
X | ||||||||||
- Definition Increase (decrease) in number of shares through exercise of stock options and other equity awards. No definition available.
|
X | ||||||||||
- Definition Increase (decrease) in number of shares through exercise of warrants. No definition available.
|
X | ||||||||||
- Definition Increase (decrease) in number of shares through issuance of equity. No definition available.
|
X | ||||||||||
- Definition Increase (decrease) in number of shares through repurchase of common shares. No definition available.
|
X | ||||||||||
- Definition The increase (decrease) in equity resulting from the exercise of stock options and other equity awards. No definition available.
|
X | ||||||||||
- Definition Issuance Of Common Shares In connection With Equity Offering. No definition available.
|
X | ||||||||||
- Definition Reversal of 2014 deferred tax. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Reserves - Summary of Class of Reserves (Details) - USD ($) $ in Thousands |
12 Months Ended | |||||||
---|---|---|---|---|---|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
|||||||
Disclosure Of Reserves Within Equity [Line Items] | ||||||||
Beginning balance | $ 2,303,431 | [1] | $ 2,201,728 | |||||
Cumulative translation adjustments | (68,406) | (2,838) | ||||||
Stock-based compensation | 12,806 | 10,622 | ||||||
Realized (losses) gains | (311) | |||||||
Unrealized (losses) gains | (339) | |||||||
Reversal of deferred tax on stock-based compensation | [2] | 359 | ||||||
Issue of Common Shares in connection with acquired subsidiaries | 1,477,478 | |||||||
Ending balance | 4,153,400 | 2,303,431 | [1] | |||||
Restated for IFRS 9 | ||||||||
Disclosure Of Reserves Within Equity [Line Items] | ||||||||
Beginning balance | 2,347,338 | |||||||
Ending balance | 2,347,338 | |||||||
Reserves | ||||||||
Disclosure Of Reserves Within Equity [Line Items] | ||||||||
Beginning balance | (142,340) | 35,847 | ||||||
Cumulative translation adjustments | (93,350) | (189,012) | ||||||
Stock-based compensation | 12,806 | 10,622 | ||||||
Exercise of equity awards | (5,258) | |||||||
Deferred Tax on stock-based compensation | 359 | |||||||
Other | 960 | |||||||
Re-allocation from warrants reserve to share capital for exercised warrants | (14,688) | |||||||
Exercise of stock options | (6,982) | |||||||
Realized (losses) gains | (45,582) | 122,979 | ||||||
Unrealized (losses) gains | 40,862 | (118,837) | ||||||
Deferred Tax on Re-measurements | 53 | |||||||
Reversal of deferred tax on stock-based compensation | (359) | |||||||
Impairment of debt instruments at FVOCI | (84) | |||||||
Issue of Common Shares in connection with acquired subsidiaries | (220,178) | |||||||
Ending balance | (469,629) | (142,340) | ||||||
Reserves | Impact of adoption of IFRS 9 | ||||||||
Disclosure Of Reserves Within Equity [Line Items] | ||||||||
Beginning balance | 213 | |||||||
Ending balance | 213 | |||||||
Reserves | Restated for IFRS 9 | ||||||||
Disclosure Of Reserves Within Equity [Line Items] | ||||||||
Beginning balance | (142,127) | |||||||
Ending balance | (142,127) | |||||||
Reserves | Cash Flow Hedges | ||||||||
Disclosure Of Reserves Within Equity [Line Items] | ||||||||
Beginning balance | (33,983) | (48,335) | ||||||
Other | 5,594 | |||||||
Realized (losses) gains | (45,271) | 160,069 | ||||||
Unrealized (losses) gains | 41,201 | (151,311) | ||||||
Ending balance | (38,053) | (33,983) | ||||||
Reserves | Cash Flow Hedges | Restated for IFRS 9 | ||||||||
Disclosure Of Reserves Within Equity [Line Items] | ||||||||
Beginning balance | (33,983) | |||||||
Ending balance | (33,983) | |||||||
Reserves | Acquisition Reserve | ||||||||
Disclosure Of Reserves Within Equity [Line Items] | ||||||||
Issue of Common Shares in connection with acquired subsidiaries | (220,023) | |||||||
Ending balance | (220,023) | |||||||
Reserves | Warrants | ||||||||
Disclosure Of Reserves Within Equity [Line Items] | ||||||||
Beginning balance | 14,688 | 14,638 | ||||||
Reclassification (see below) | 50 | |||||||
Re-allocation from warrants reserve to share capital for exercised warrants | (14,688) | |||||||
Ending balance | 14,688 | |||||||
Reserves | Warrants | Restated for IFRS 9 | ||||||||
Disclosure Of Reserves Within Equity [Line Items] | ||||||||
Beginning balance | 14,688 | |||||||
Ending balance | 14,688 | |||||||
Reserves | Equity | ||||||||
Disclosure Of Reserves Within Equity [Line Items] | ||||||||
Beginning balance | 36,865 | 31,142 | ||||||
Stock-based compensation | 12,806 | 10,622 | ||||||
Exercise of equity awards | (5,258) | |||||||
Deferred Tax on stock-based compensation | 359 | |||||||
Exercise of stock options | (6,982) | |||||||
Reversal of deferred tax on stock-based compensation | (359) | |||||||
Ending balance | 42,330 | 36,865 | ||||||
Reserves | Equity | Restated for IFRS 9 | ||||||||
Disclosure Of Reserves Within Equity [Line Items] | ||||||||
Beginning balance | 36,865 | |||||||
Ending balance | 36,865 | |||||||
Reserves | Treasury | ||||||||
Disclosure Of Reserves Within Equity [Line Items] | ||||||||
Beginning balance | (29,542) | (30,035) | ||||||
Other | 493 | |||||||
Ending balance | (29,542) | (29,542) | ||||||
Reserves | Treasury | Restated for IFRS 9 | ||||||||
Disclosure Of Reserves Within Equity [Line Items] | ||||||||
Beginning balance | (29,542) | |||||||
Ending balance | (29,542) | |||||||
Reserves | Cumulative Translation Reserve | ||||||||
Disclosure Of Reserves Within Equity [Line Items] | ||||||||
Beginning balance | (120,709) | 77,171 | ||||||
Cumulative translation adjustments | (93,350) | (189,012) | ||||||
Reclassification (see below) | (8,868) | |||||||
Ending balance | (214,044) | (120,709) | ||||||
Reserves | Cumulative Translation Reserve | Reclassification | ||||||||
Disclosure Of Reserves Within Equity [Line Items] | ||||||||
Beginning balance | 15 | |||||||
Ending balance | 15 | |||||||
Reserves | Cumulative Translation Reserve | Restated for IFRS 9 | ||||||||
Disclosure Of Reserves Within Equity [Line Items] | ||||||||
Beginning balance | (120,694) | |||||||
Ending balance | (120,694) | |||||||
Reserves | Available for Sale Investments | ||||||||
Disclosure Of Reserves Within Equity [Line Items] | ||||||||
Beginning balance | (5,402) | (9,983) | ||||||
Reclassification (see below) | 9,197 | |||||||
Realized (losses) gains | (37,090) | |||||||
Unrealized (losses) gains | 32,474 | |||||||
Ending balance | (5,402) | |||||||
Reserves | Available for Sale Investments | Reclassification | ||||||||
Disclosure Of Reserves Within Equity [Line Items] | ||||||||
Beginning balance | 5,357 | |||||||
Ending balance | 5,357 | |||||||
Reserves | Available for Sale Investments | Impact of adoption of IFRS 9 | ||||||||
Disclosure Of Reserves Within Equity [Line Items] | ||||||||
Beginning balance | 45 | |||||||
Ending balance | 45 | |||||||
Reserves | Financial Assets at FVOCI | ||||||||
Disclosure Of Reserves Within Equity [Line Items] | ||||||||
Realized (losses) gains | (311) | |||||||
Unrealized (losses) gains | (339) | |||||||
Deferred Tax on Re-measurements | 53 | |||||||
Impairment of debt instruments at FVOCI | (84) | |||||||
Ending balance | (513) | |||||||
Reserves | Financial Assets at FVOCI | Impact of adoption of IFRS 9 | ||||||||
Disclosure Of Reserves Within Equity [Line Items] | ||||||||
Beginning balance | 168 | |||||||
Ending balance | 168 | |||||||
Reserves | Financial Assets at FVOCI | Restated for IFRS 9 | ||||||||
Disclosure Of Reserves Within Equity [Line Items] | ||||||||
Beginning balance | 168 | |||||||
Ending balance | 168 | |||||||
Reserves | Other | ||||||||
Disclosure Of Reserves Within Equity [Line Items] | ||||||||
Beginning balance | (4,257) | 1,249 | ||||||
Reclassification (see below) | (379) | |||||||
Other | (5,127) | |||||||
Issue of Common Shares in connection with acquired subsidiaries | (155) | |||||||
Ending balance | (9,784) | (4,257) | ||||||
Reserves | Other | Reclassification | ||||||||
Disclosure Of Reserves Within Equity [Line Items] | ||||||||
Beginning balance | (5,372) | |||||||
Ending balance | (5,372) | |||||||
Reserves | Other | Restated for IFRS 9 | ||||||||
Disclosure Of Reserves Within Equity [Line Items] | ||||||||
Beginning balance | $ (9,629) | |||||||
Ending balance | $ (9,629) | |||||||
|
X | ||||||||||
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
|
X | ||||||||||
- Definition The amount of residual interest in the assets of the entity after deducting all its liabilities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount of exchange differences recognised in profit or loss that arise from foreign currency transactions, excluding those arising on financial instruments measured at fair value through profit or loss in accordance with IFRS 9. [Refer: At fair value [member]; Financial instruments, class [member]] Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- Definition The increase (decrease) in equity resulting from the acquisition of subsidiaries. [Refer: Subsidiaries [member]] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The increase (decrease) in equity resulting from the exercise of options. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The increase (decrease) in equity resulting from the exercise of warrants. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The increase (decrease) in equity resulting from share-based payment transactions. [Refer: Equity] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The increase (decrease) in equity resulting from changes that the entity does not separately disclose in the same statement or note. [Refer: Equity] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Deferred tax asset related to stock based compensation. No definition available.
|
X | ||||||||||
- Definition Deferred tax on re-measurements. No definition available.
|
X | ||||||||||
- Definition Impairment of debt instruments at FVOCI. No definition available.
|
X | ||||||||||
- Definition Increase decrease through exercise of equity awards. No definition available.
|
X | ||||||||||
- Definition Realized gains (losses). No definition available.
|
X | ||||||||||
- Definition Reclassification on reserves. No definition available.
|
X | ||||||||||
- Definition Reversal of deferred tax on stock-based compensation. No definition available.
|
X | ||||||||||
- Definition Unrealized gains (losses). No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
|
Reserves - Additional Information (Details) |
12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2018
USD ($)
shares
yr
|
Dec. 31, 2018
CAD ($)
shares
$ / shares
|
Dec. 31, 2017
USD ($)
shares
yr
|
Dec. 31, 2017
CAD ($)
shares
$ / shares
|
Apr. 25, 2018 |
Apr. 24, 2018 |
Feb. 27, 2018 |
||||
Disclosure Of Reserves Within Equity [Line Items] | ||||||||||
Reclassification made for correct errors in the reserves | $ 9,200,000 | |||||||||
Reserves | $ (469,629,000) | $ (142,340,000) | [1] | |||||||
Number of options, Issued | shares | 0 | 0 | 202,000 | 202,000 | ||||||
Weighted average remaining contractual life of outstanding share options | yr | 3.17 | 3.17 | ||||||||
Weighted average price of options exercised | $ / shares | $ 23.23 | $ 7.47 | ||||||||
Compensation expense | $ 12,800,000 | $ 10,600,000 | ||||||||
Compensation cost not yet recognized | $ 700,000 | |||||||||
Stock option, grant date fair value | 579,000 | |||||||||
Public trading history period taken for estimated volatility | 4 years 9 months | 4 years 9 months | ||||||||
Performance share unit additional share issued limit | 50.00% | 50.00% | ||||||||
Dividends declared | $ 0 | $ 0 | ||||||||
2010 Stock Option Plan And 2015 Equity Incentive Plan | Minimum | ||||||||||
Disclosure Of Reserves Within Equity [Line Items] | ||||||||||
Outstanding stock option exercisable price per share | $ / shares | $ 2.85 | |||||||||
2010 Stock Option Plan And 2015 Equity Incentive Plan | Maximum | ||||||||||
Disclosure Of Reserves Within Equity [Line Items] | ||||||||||
Outstanding stock option exercisable price per share | $ / shares | $ 35.30 | |||||||||
BetEasy | ||||||||||
Disclosure Of Reserves Within Equity [Line Items] | ||||||||||
Percentage of equity interests acquired | 18.00% | 80.00% | 18.00% | 62.00% | ||||||
TSGA | ||||||||||
Disclosure Of Reserves Within Equity [Line Items] | ||||||||||
Percentage of equity interests acquired | 100.00% | |||||||||
Subsequent Event | ||||||||||
Disclosure Of Reserves Within Equity [Line Items] | ||||||||||
Additional equity interest acquired | 18.00% | |||||||||
Subsequent Event | BetEasy | ||||||||||
Disclosure Of Reserves Within Equity [Line Items] | ||||||||||
Percentage of equity interests acquired | 62.00% | |||||||||
Subsequent Event | TSGA | ||||||||||
Disclosure Of Reserves Within Equity [Line Items] | ||||||||||
Percentage of equity interests acquired | 100.00% | |||||||||
Restated for IFRS 9 | ||||||||||
Disclosure Of Reserves Within Equity [Line Items] | ||||||||||
Reserves | $ 5,400,000 | |||||||||
|
X | ||||||||||
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
|
X | ||||||||||
- Definition The number of share options granted in a share-based payment arrangement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition A component of equity representing reserves within equity, not including retained earnings. [Refer: Retained earnings] Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- Definition The percentage of voting equity interests acquired in a business combination. [Refer: Business combinations [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The weighted average remaining contractual life of outstanding share options. [Refer: Weighted average [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Additional equity interest acquired. No definition available.
|
X | ||||||||||
- Definition Dividends declared, No definition available.
|
X | ||||||||||
- Definition Employee service share based compensation non vested award compensation cost not yet recognized stock options. No definition available.
|
X | ||||||||||
- Definition Exercise price of outstanding share options one. No definition available.
|
X | ||||||||||
- Definition Performance share unit additional share issued limit. No definition available.
|
X | ||||||||||
- Definition Public trading history period taken for estimating expected volatility. No definition available.
|
X | ||||||||||
- Definition Reclassification made for correct reserve adjustments. No definition available.
|
X | ||||||||||
- Definition Share based compensation expense. No definition available.
|
X | ||||||||||
- Definition Sharebased compensation arrangement by sharebased payment award options during the period grant date fair value. No definition available.
|
X | ||||||||||
- Definition Weighted average exercise price of options exercised in share based payment arrangement1. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Reserves - Schedule of Outstanding Stock Options (Details) |
12 Months Ended | |
---|---|---|
Dec. 31, 2018
shares
$ / shares
|
Dec. 31, 2017
shares
$ / shares
|
|
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Abstract] | ||
Number of options, Beginning balance | shares | 6,875,616 | 10,358,475 |
Number of options, Issued | shares | 0 | 202,000 |
Number of options, Exercised | shares | (1,731,761) | (2,899,184) |
Number of options, Forfeited | shares | (401,925) | (785,675) |
Number of options, Ending balance | shares | 4,741,930 | 6,875,616 |
Weighted average exercise price, Beginning balance | $ / shares | $ 25.24 | $ 20.54 |
Weighted average exercise price, Issued | $ / shares | 18.30 | |
Weighted average exercise price, Exercised | $ / shares | 23.23 | 7.47 |
Weighted average exercise price, Forfeited | $ / shares | 19.17 | 27.56 |
Weighted average exercise price, Ending balance | $ / shares | $ 26.49 | $ 25.24 |
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The number of share options outstanding in a share-based payment arrangement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The number of share options exercised in a share-based payment arrangement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The number of share options forfeited in a share-based payment arrangement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The number of share options granted in a share-based payment arrangement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Weighted average exercise price of share options exercised in share -based payment arrangement one. No definition available.
|
X | ||||||||||
- Definition Weighted average exercise price of share options forfeited in share -based payment arrangement one. No definition available.
|
X | ||||||||||
- Definition Weighted average exercise price of share options granted in share -based payment arrangement one. No definition available.
|
X | ||||||||||
- Definition Weighted average exercise price of share options outstanding in share-based payment arrangement one. No definition available.
|
Reserves - Summary of Exercisable Options Per Stock Option (Details) - shares |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
|
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |||
Number of options, Outstanding options | 4,741,930 | 6,875,616 | 10,358,475 |
Weighted average outstanding maturity period (years), Outstanding options | 3 years 2 months 1 day | ||
Number of options, Exercisable options | 4,068,630 | ||
Minimum | |||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |||
Exercise price, Exercisable options | 3 years 18 days | ||
0.01 to 8.00 | |||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |||
Number of options, Outstanding options | 36,500 | ||
Weighted average outstanding maturity period (years), Outstanding options | 9 months 21 days | ||
Number of options, Exercisable options | 36,500 | ||
0.01 to 8.00 | Minimum | |||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |||
Exercise price, Exercisable options | 9 months 21 days | ||
8.01 to 16.00 | |||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |||
Number of options, Outstanding options | 40,000 | ||
Weighted average outstanding maturity period (years), Outstanding options | 4 years 10 days | ||
Number of options, Exercisable options | 20,000 | ||
8.01 to 16.00 | Minimum | |||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |||
Exercise price, Exercisable options | 4 years 10 days | ||
16.01 to 24.00 | |||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |||
Number of options, Outstanding options | 1,470,150 | ||
Weighted average outstanding maturity period (years), Outstanding options | 3 years 7 months 6 days | ||
Number of options, Exercisable options | 1,123,325 | ||
16.01 to 24.00 | Minimum | |||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |||
Exercise price, Exercisable options | 3 years 4 months 24 days | ||
24.01 to 32.00 | |||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |||
Number of options, Outstanding options | 2,336,328 | ||
Weighted average outstanding maturity period (years), Outstanding options | 2 years 10 months 17 days | ||
Number of options, Exercisable options | 2,198,128 | ||
24.01 to 32.00 | Minimum | |||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |||
Exercise price, Exercisable options | 2 years 10 months 2 days | ||
32.01 to 40.00 | |||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |||
Number of options, Outstanding options | 858,952 | ||
Weighted average outstanding maturity period (years), Outstanding options | 3 years 3 months 18 days | ||
Number of options, Exercisable options | 690,677 | ||
32.01 to 40.00 | Minimum | |||
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | |||
Exercise price, Exercisable options | 3 years 3 months 3 days |
X | ||||||||||
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
|
X | ||||||||||
- Definition The number of share options outstanding in a share-based payment arrangement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The number of share options exercisable in a share-based payment arrangement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Share based compensation share authorized under stock option plans exercise price range exercisable options weighted average remaining contractual term2. No definition available.
|
X | ||||||||||
- Definition Share-based compensation share authorized under stock option plans exercise price range outstanding options weighted average remaining contractual term two. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Reserves - Summary of Weighted-Average Assumption for Stock Option Grants (Details) |
12 Months Ended |
---|---|
Dec. 31, 2017
CAD ($)
| |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Abstract] | |
Expected volatility | 55.00% |
Expected life | 4 years 9 months |
Expected forfeiture rate | 17.00% |
Risk-free interest rate | 1.02% |
Weighted average share price | $ 18,300 |
Weighted average fair value of options at grant date | $ 4.46 |
X | ||||||||||
- Definition The expected volatility of the share price used to calculate the fair value of the share options granted. Expected volatility is a measure of the amount by which a price is expected to fluctuate during a period. The measure of volatility used in option pricing models is the annualised standard deviation of the continuously compounded rates of return on the share over a period of time. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The implied yield currently available on zero-coupon government issues of the country in whose currency the exercise price for share options granted is expressed, with a remaining term equal to the expected term of the option being valued (based on the option's remaining contractual life and taking into account the effects of expected early exercise). [Refer: Government [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The weighted average fair value of share options granted during the period at the measurement date. [Refer: Weighted average [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The weighted average share price used as input to the option pricing model to calculate the fair value of share options granted. [Refer: Option pricing model [member]; Weighted average [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Expected forfeiture rate share options granted. No definition available.
|
X | ||||||||||
- Definition Expected life of share options granted. No definition available.
|
Reserves - Schedule of Outstanding RSUs (Details) - Restricted Share Units |
12 Months Ended | |
---|---|---|
Dec. 31, 2018
USD ($)
shares
|
Dec. 31, 2017
USD ($)
shares
|
|
Disclosure Of Reserves Within Equity [Line Items] | ||
Number of units, Beginning Balance | shares | 141,064 | |
Number of units, Issued | shares | 123,833 | 153,064 |
Number of units, Vested and Settled | shares | (35,268) | (12,000) |
Number of units, Forfeited | shares | (9,429) | |
Number of units, Ending Balance | shares | 220,200 | 141,064 |
Weighted average exercise price, Beginning balance | $ | $ 22.46 | |
Weighted average exercise price, Issued | $ | 31.92 | $ 22.41 |
Weighted average exercise price, Vested and Settled | $ | 22.47 | 21.80 |
Weighted average exercise price, Forfeited | $ | 22.58 | |
Weighted average exercise price, Ending balance | $ | $ 29.72 | $ 22.46 |
X | ||||||||||
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
|
X | ||||||||||
- Definition The number of other equity instruments (ie other than share options) granted in a share-based payment arrangement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The number of other equity instruments (ie other than share options) exercised or vested in a share-based payment arrangement. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The number of other equity instruments (ie other than share options) forfeited in a share-based payment arrangement. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The number of other equity instruments (ie other than share options) outstanding in a share-based payment arrangement. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The weighted average exercise price of other equity instruments (ie other than share options) exercised or vested in a share-based payment arrangement. [Refer: Weighted average [member]] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The weighted average exercise price of other equity instruments (ie other than share options) forfeited in a share-based payment arrangement. [Refer: Weighted average [member]] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The weighted average exercise price of other equity instruments (ie other than share options) granted in a share-based payment arrangement. [Refer: Weighted average [member]] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The weighted average exercise price of other equity instruments (ie other than share options) outstanding in a share-based payment arrangement. [Refer: Weighted average [member]] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Details
|
Reserves - Schedule of Outstanding PSUs and Bonus PSUs (Details) - PSUs |
12 Months Ended | |
---|---|---|
Dec. 31, 2018
USD ($)
shares
|
Dec. 31, 2017
USD ($)
shares
|
|
Disclosure Of Reserves Within Equity [Line Items] | ||
Number of units, Beginning Balance | shares | 282,036 | |
Number of units, Issued | shares | 423,374 | 282,036 |
Number of units, Forfeited | shares | (19,464) | |
Number of units, Ending Balance | shares | 685,946 | 282,036 |
Weighted average exercise price, Beginning balance | $ | $ 22.47 | |
Weighted average exercise price, Issued | $ | 30.09 | $ 22.47 |
Weighted average exercise price, Forfeited | $ | 22.58 | |
Weighted average exercise price, Ending balance | $ | $ 27.17 | $ 22.47 |
X | ||||||||||
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
|
X | ||||||||||
- Definition The number of other equity instruments (ie other than share options) granted in a share-based payment arrangement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The number of other equity instruments (ie other than share options) forfeited in a share-based payment arrangement. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The number of other equity instruments (ie other than share options) outstanding in a share-based payment arrangement. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The weighted average exercise price of other equity instruments (ie other than share options) forfeited in a share-based payment arrangement. [Refer: Weighted average [member]] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The weighted average exercise price of other equity instruments (ie other than share options) granted in a share-based payment arrangement. [Refer: Weighted average [member]] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The weighted average exercise price of other equity instruments (ie other than share options) outstanding in a share-based payment arrangement. [Refer: Weighted average [member]] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Details
|
Reserves - Schedule of Outstanding DSUs (Details) - DSUs |
12 Months Ended | |
---|---|---|
Dec. 31, 2018
USD ($)
shares
|
Dec. 31, 2017
USD ($)
shares
|
|
Disclosure Of Reserves Within Equity [Line Items] | ||
Number of units, Beginning Balance | shares | 92,703 | |
Number of units, Issued | shares | 133,383 | 92,703 |
Number of units, Vested and Settled | shares | (24,831) | |
Number of units, Ending Balance | shares | 201,255 | 92,703 |
Weighted average exercise price, Beginning balance | $ | $ 15.26 | |
Weighted average exercise price, Issued | $ | 22.96 | $ 15.26 |
Weighted average exercise price, Vested and Settled | $ | 23.17 | |
Weighted average exercise price, Ending balance | $ | $ 19.39 | $ 15.26 |
X | ||||||||||
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
|
X | ||||||||||
- Definition The number of other equity instruments (ie other than share options) granted in a share-based payment arrangement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The number of other equity instruments (ie other than share options) exercised or vested in a share-based payment arrangement. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The number of other equity instruments (ie other than share options) outstanding in a share-based payment arrangement. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The weighted average exercise price of other equity instruments (ie other than share options) exercised or vested in a share-based payment arrangement. [Refer: Weighted average [member]] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The weighted average exercise price of other equity instruments (ie other than share options) granted in a share-based payment arrangement. [Refer: Weighted average [member]] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The weighted average exercise price of other equity instruments (ie other than share options) outstanding in a share-based payment arrangement. [Refer: Weighted average [member]] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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Reserves- Schedule of Outstanding Warrants (Details) - Warrants |
12 Months Ended | |
---|---|---|
Dec. 31, 2018
CAD ($)
shares
|
Dec. 31, 2017
CAD ($)
shares
|
|
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] | ||
Number of units, Beginning Balance | shares | 4,000,000 | 4,000,000 |
Number of warrants, Exercised | shares | (4,000,000) | |
Number of units, Ending Balance | shares | 4,000,000 | |
Weighted average exercise price, Beginning balance | $ | $ 19.17 | $ 19.17 |
Weighted average exercise price, Vested and Settled | $ | 19.17 | |
Weighted average exercise price, Ending balance | $ | $ 19.17 |
X | ||||||||||
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
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- Definition The number of other equity instruments (ie other than share options) exercised or vested in a share-based payment arrangement. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition The number of other equity instruments (ie other than share options) outstanding in a share-based payment arrangement. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The weighted average exercise price of other equity instruments (ie other than share options) exercised or vested in a share-based payment arrangement. [Refer: Weighted average [member]] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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X | ||||||||||
- Definition The weighted average exercise price of other equity instruments (ie other than share options) outstanding in a share-based payment arrangement. [Refer: Weighted average [member]] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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Fair Value - Summary of Fair Values of Financial Assets and Liabilities (Details) - USD ($) $ in Thousands |
Dec. 31, 2018 |
Dec. 31, 2017 |
---|---|---|
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets available for sale | $ 129,650 | |
Derivative Assets | $ 54,583 | 2,037 |
Total financial assets | 164,509 | 131,687 |
Derivative Liabilities | 22,561 | 121,881 |
Deferred contingent payment | 77,628 | |
Other long-term liabilities - FVTPL | 2,740 | |
Total financial liabilities | 102,929 | 121,881 |
Level 1 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets available for sale | 122,669 | |
Total financial assets | 103,153 | 122,669 |
Level 2 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Derivative Assets | 42,983 | 2,037 |
Total financial assets | 42,983 | 2,037 |
Derivative Liabilities | 6,276 | 111,762 |
Total financial liabilities | 6,276 | 111,762 |
Level 3 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets available for sale | 6,981 | |
Derivative Assets | 11,600 | |
Total financial assets | 18,373 | 6,981 |
Derivative Liabilities | 16,285 | 10,119 |
Deferred contingent payment | 77,628 | |
Other long-term liabilities - FVTPL | 2,740 | |
Total financial liabilities | 96,653 | 10,119 |
Bonds – FVOCI | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets available for sale | 103,153 | |
Bonds – FVOCI | Level 1 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets available for sale | 103,153 | |
Equity in Unquoted Companies – FVTPL | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets available for sale | 6,773 | |
Equity in Unquoted Companies – FVTPL | Level 3 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets available for sale | $ 6,773 | |
Funds | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets available for sale | 7,045 | |
Funds | Level 1 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets available for sale | 7,045 | |
Bonds | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets available for sale | 115,343 | |
Bonds | Level 1 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets available for sale | 115,343 | |
Equity in Unquoted Companies | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets available for sale | 6,981 | |
Equity in Unquoted Companies | Level 3 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets available for sale | 6,981 | |
Equity in Quoted Companies | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets available for sale | 281 | |
Equity in Quoted Companies | Level 1 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Financial assets available for sale | $ 281 |
X | ||||||||||
- Definition The amount of financial assets classified as derivative instruments. [Refer: Financial assets; Derivatives [member]] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The amount of financial liabilities classified as derivative instruments. [Refer: Financial assets; Derivatives [member]] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The fair value of financial assets. [Refer: At fair value [member]; Financial assets] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount of non-derivative financial assets that are designated as available for sale or are not classified as (a) loans and receivables; (b) held-to-maturity investments; or (c) financial assets at fair value through profit or loss. [Refer: Derivative financial assets; Financial assets at fair value through profit or loss; Held-to-maturity investments] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The fair value of financial liabilities. [Refer: At fair value [member]; Financial liabilities] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount of non-current financial liabilities that the entity does not separately disclose in the same statement or note. [Refer: Other financial liabilities] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
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- Definition Deferred contingent payment. No definition available.
|
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- Definition Disclosure of fair value measurement of assets and liabilities. No definition available.
|
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- Details
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Fair Value - Summary of Fair Value of Other Financial Assets and Liabilities Measured at Amortized Cost (Details) - USD ($) $ in Thousands |
Dec. 31, 2018 |
Dec. 31, 2017 |
---|---|---|
Disclosure Of Fair Value Measurement Of Assets And Liabilities Measure At Amortized Cost [Line Items] | ||
Total financial liabilities | $ 5,383,895 | $ 2,466,048 |
Level 2 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Measure At Amortized Cost [Line Items] | ||
Total financial liabilities | 5,383,895 | 2,466,048 |
First Lien Term Loan | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Measure At Amortized Cost [Line Items] | ||
Total financial liabilities | 4,414,525 | |
First Lien Term Loan | Level 2 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Measure At Amortized Cost [Line Items] | ||
Total financial liabilities | 4,414,525 | |
Senior Notes | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Measure At Amortized Cost [Line Items] | ||
Total financial liabilities | 969,370 | |
Senior Notes | Level 2 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Measure At Amortized Cost [Line Items] | ||
Total financial liabilities | $ 969,370 | |
Previous First Lien Term Loans | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Measure At Amortized Cost [Line Items] | ||
Total financial liabilities | 2,370,335 | |
Previous First Lien Term Loans | Level 2 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Measure At Amortized Cost [Line Items] | ||
Total financial liabilities | 2,370,335 | |
USD Second Lien Term Loan | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Measure At Amortized Cost [Line Items] | ||
Total financial liabilities | 95,713 | |
USD Second Lien Term Loan | Level 2 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities Measure At Amortized Cost [Line Items] | ||
Total financial liabilities | $ 95,713 |
X | ||||||||||
- Definition The amount of financial liabilities at amortised cost. The amortised cost is the amount at which financial liabilities are measured at initial recognition minus principal repayments, plus or minus the cumulative amortisation using the effective interest method of any difference between that initial amount and the maturity amount. [Refer: Financial liabilities] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Disclosure of fair value measurement of assets and liabilities measure at amortized cost. No definition available.
|
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Fair Value - Additional Information (Details) - USD ($) |
12 Months Ended | ||||
---|---|---|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
Apr. 25, 2018 |
Apr. 24, 2018 |
Feb. 27, 2018 |
|
Disclosure Of Fair Value Measurement Of Assets And Liabilities That Are Classified As Level 3 In Fair Value Hierarchy [Line Items] | |||||
Transfers between levels of fair value hierarchy | $ 0 | ||||
Implied credit spread on fair value | 10 basis point | ||||
Level 3 Liability | Embedded Derivative | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities That Are Classified As Level 3 In Fair Value Hierarchy [Line Items] | |||||
Impact on fair value due to increase in estimated volatility rate | $ 1,000,000 | ||||
Impact on fair value due to decrease in estimated volatility rate | $ 900,000 | ||||
Implied credit spread at issuance | 4.60% | 3.80% | |||
Level 3 Liability | Liability Innova EBITDA Support Agreement | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities That Are Classified As Level 3 In Fair Value Hierarchy [Line Items] | |||||
Fair value input, discount rate | 5.70% | 5.70% | |||
Level 3 Liability | Support Agreement | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities That Are Classified As Level 3 In Fair Value Hierarchy [Line Items] | |||||
Fair value of license agreement | $ 2,700,000 | ||||
BetEasy | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities That Are Classified As Level 3 In Fair Value Hierarchy [Line Items] | |||||
Percentage of equity interests acquired | 18.00% | 80.00% | 18.00% | 62.00% | |
BetEasy | Level 3 Liability | Deferred Contingent Payment | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities That Are Classified As Level 3 In Fair Value Hierarchy [Line Items] | |||||
Percentage of equity interests acquired | 18.00% | ||||
Fair value input, discount rate | 10.50% | ||||
Estimated fair value input discount rate | 5.00% | ||||
Impact on fair value due to increase in estimated volatility rate | $ 3,800,000 | ||||
Impact on fair value due to decrease in estimated volatility rate | $ 700,000 | ||||
Minimum | BetEasy | Level 3 Liability | Deferred Contingent Payment | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities That Are Classified As Level 3 In Fair Value Hierarchy [Line Items] | |||||
Estimated volatility | 25.00% | ||||
Maximum | BetEasy | Level 3 Liability | Deferred Contingent Payment | |||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities That Are Classified As Level 3 In Fair Value Hierarchy [Line Items] | |||||
Estimated volatility | 25.00% |
X | ||||||||||
- Definition The percentage of voting equity interests acquired in a business combination. [Refer: Business combinations [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount of transfers of assets into Level 3 of the fair value hierarchy. [Refer: Level 3 of fair value hierarchy [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Disclosure of fair value measurement of assets and liabilities that are classified as level 3 in the fair value hierarchy. No definition available.
|
X | ||||||||||
- Definition Estimated fair value input discount rate. No definition available.
|
X | ||||||||||
- Definition Estimated volatility. No definition available.
|
X | ||||||||||
- Definition Fair value input, discount rate. No definition available.
|
X | ||||||||||
- Definition Fair value of license agreement. No definition available.
|
X | ||||||||||
- Definition Impact on fair value due to 10 basis point decrease in implied credit spread. No definition available.
|
X | ||||||||||
- Definition Impact on fair value due to 10 basis point increase in implied credit spread. No definition available.
|
X | ||||||||||
- Definition Impact on fair value due to decrease in estimated volatility rate. No definition available.
|
X | ||||||||||
- Definition Impact on fair value due to increase in estimated volatility rate. No definition available.
|
X | ||||||||||
- Definition Implied credit spread at issuance. No definition available.
|
X | ||||||||||
- Definition Increase or decrease in implied credit on fair value. No definition available.
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- Details
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Fair Value - Schedule of Reconciliation of Level 3 Fair Values (Details) - USD ($) $ in Thousands |
12 Months Ended | |||||
---|---|---|---|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
|||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities That Are Classified As Level 3 In Fair Value Hierarchy [Line Items] | ||||||
Beginning Balance | [1] | $ 5,415,126 | ||||
Ending Balance | 11,265,538 | $ 5,415,126 | [1] | |||
Cumulative translation adjustments | (68,406) | (2,838) | ||||
Beginning Balance | [1] | 3,111,695 | ||||
Ending Balance | 7,112,138 | 3,111,695 | [1] | |||
Level 3 | Deferred Contingent Payment | ||||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities That Are Classified As Level 3 In Fair Value Hierarchy [Line Items] | ||||||
Cumulative translation adjustments | (6,692) | |||||
Beginning Balance | 195,506 | |||||
Settlement | (197,510) | |||||
Re-measurement of fair value | (342) | 2,004 | ||||
Ending Balance | 77,628 | |||||
Acquired on business combination | 84,662 | |||||
Level 3 | Unsettled Bets | ||||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities That Are Classified As Level 3 In Fair Value Hierarchy [Line Items] | ||||||
Cumulative translation adjustments | 94 | 43 | ||||
Beginning Balance | 779 | 519 | ||||
Settlement | 968 | 179 | ||||
Re-measurement of fair value | (4,782) | 38 | ||||
Ending Balance | 16,285 | 779 | ||||
Acquired on business combination | 19,226 | |||||
Level 3 | Other | ||||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities That Are Classified As Level 3 In Fair Value Hierarchy [Line Items] | ||||||
Cumulative translation adjustments | (588) | 1,076 | ||||
Beginning Balance | 10,119 | 23,230 | ||||
Settlement | (7,006) | (14,905) | ||||
Re-measurement of fair value | 215 | 718 | ||||
Ending Balance | 2,740 | 10,119 | ||||
Equity | Level 3 | ||||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities That Are Classified As Level 3 In Fair Value Hierarchy [Line Items] | ||||||
Beginning Balance | 6,981 | 15,249 | ||||
Transfers into Level 3 | (8,526) | |||||
Re-measurement of fair value | (1,974) | 258 | ||||
Ending Balance | 6,772 | 6,981 | ||||
Adjustment on adoption of IFRS 9 | 1,787 | |||||
Cumulative translation adjustments | (22) | |||||
Equity | Level 3 | Restated | ||||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities That Are Classified As Level 3 In Fair Value Hierarchy [Line Items] | ||||||
Beginning Balance | 8,768 | |||||
Ending Balance | 8,768 | |||||
Level 3 Promissory Note | Level 3 | ||||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities That Are Classified As Level 3 In Fair Value Hierarchy [Line Items] | ||||||
Beginning Balance | 4,827 | |||||
Re-measurement of fair value | 3,257 | |||||
Settlement | $ (8,084) | |||||
Embedded Derivative | Level 3 | ||||||
Disclosure Of Fair Value Measurement Of Assets And Liabilities That Are Classified As Level 3 In Fair Value Hierarchy [Line Items] | ||||||
Re-measurement of fair value | (6,100) | |||||
Ending Balance | 11,600 | |||||
Recognized | $ 17,700 | |||||
|
X | ||||||||||
- Definition The amount of resources: (a) controlled by the entity as a result of past events; and (b) from which future economic benefits are expected to flow to the entity. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount of financial assets in the statement of financial position that were previously designated as measured at fair value through profit or loss but are no longer so designated, and that were reclassified due to requirements of IFRS 9 when the entity initially applies IFRS 9. [Refer: Financial assets at fair value through profit or loss] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount of exchange differences recognised in profit or loss that arise from foreign currency transactions, excluding those arising on financial instruments measured at fair value through profit or loss in accordance with IFRS 9. [Refer: At fair value [member]; Financial instruments, class [member]] Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- Definition The gains (losses) recognised in profit or loss on the fair value measurement of assets. [Refer: At fair value [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount of present obligations of the entity arising from past events, the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The decrease in the fair value measurement of assets resulting from settlements. [Refer: At fair value [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition The decrease in the fair value measurement of liabilities resulting from settlements. [Refer: At fair value [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount of transfers of assets out of Level 3 of the fair value hierarchy. [Refer: Level 3 of fair value hierarchy [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Acquired on business combination fair value liability. No definition available.
|
X | ||||||||||
- Definition Disclosure of fair value measurement of assets and liabilities that are classified as level 3 in the fair value hierarchy. No definition available.
|
X | ||||||||||
- Definition Increase decrease in re-measurement of fair value. No definition available.
|
X | ||||||||||
- Definition Increase decrease in re-measurement of fair value liability. No definition available.
|
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- Details
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Statements of Cash Flows - Schedule of Changes in Non Cash Operating Working Capital (Details) - USD ($) $ in Thousands |
12 Months Ended | |
---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
|
Disclosure Of Changes In Non Cash Operating Working Capital [Abstract] | ||
Accounts receivable | $ 90,677 | $ (6,708) |
Prepaid expenses | (14,250) | (6,243) |
Accounts payable and accrued liabilities | (112,275) | 6,931 |
Provisions | 15,652 | 2,666 |
Other | 10,793 | (447) |
Total | $ (9,403) | $ (3,801) |
X | ||||||||||
- Definition Adjustments for decrease (increase) in trade accounts receivable to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Adjustments for increase (decrease) in trade accounts payable to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Adjustments for provisions to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Provisions; Profit (loss)] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The increase (decrease) in working capital. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
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- Definition Adjustments for non-cash items to reconcile profit (loss) to net cash flow from (used in) operating activities that the entity does not separately disclose in the same statement or note. [Refer: Profit (loss)] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Adjustments for decrease (increase) in prepaid expenses to reconcile profit (loss) to net cash flow from (used in) operating activities. No definition available.
|
X | ||||||||||
- Definition Disclosure of changes in non cash operating working capital. No definition available.
|
Statements of Cash Flows - Schedule of Changes in Liabilities Arising from Financing Activities (Details) - USD ($) $ in Thousands |
12 Months Ended | |||||
---|---|---|---|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
|||||
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items] | ||||||
Beginning balance | $ 2,314,675 | [1] | $ 2,631,482 | |||
Financing cash flows | 2,978,754 | (349,744) | ||||
The effect of changes in foreign exchange rates | (46,040) | 56,576 | ||||
Other changes | 199,569 | 20,255 | ||||
Ending balance | 5,446,958 | 2,314,675 | [1] | |||
Long-term Debt | ||||||
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items] | ||||||
Beginning balance | 2,314,675 | [1] | 2,428,579 | |||
Financing cash flows | 2,978,754 | (144,632) | ||||
The effect of changes in foreign exchange rates | (46,040) | 56,371 | ||||
Other changes | 199,569 | 18,251 | ||||
Ending balance | $ 5,446,958 | 2,314,675 | [1] | |||
Settlement Of Margin | ||||||
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items] | ||||||
Beginning balance | 7,397 | |||||
Financing cash flows | (7,602) | |||||
The effect of changes in foreign exchange rates | 205 | |||||
Deferred Payment Provision | ||||||
Disclosure Of Reconciliation Of Liabilities Arising From Financing Activities [Line Items] | ||||||
Beginning balance | 195,506 | |||||
Financing cash flows | (197,510) | |||||
Other changes | $ 2,004 | |||||
|
X | ||||||||||
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
|
X | ||||||||||
- Definition The increase (decrease) in liabilities arising from financing activities resulting from the effect of changes in foreign exchange rates. [Refer: Liabilities arising from financing activities] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The increase (decrease) in liabilities arising from financing activities resulting from financing cash flows. [Refer: Cash flows from (used in) financing activities; Liabilities arising from financing activities] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The increase (decrease) in liabilities arising from financing activities resulting from changes that the entity does not separately disclose in the same statement or note. [Refer: Liabilities arising from financing activities] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount of liabilities for which cash flows were, or future cash flows will be, classified in the statement of cash flows as cash flows from financing activities. [Refer: Cash flows from (used in) financing activities; Liabilities] Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- Details
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|
Contingent Liabilities - Additional Information (Details) - USD ($) $ in Millions |
12 Months Ended | ||||
---|---|---|---|---|---|
Feb. 22, 2016 |
Dec. 23, 2015 |
Dec. 31, 2018 |
Dec. 21, 2018 |
Jan. 18, 2018 |
|
Disclosure Of Contingent Liabilities [Abstract] | |||||
Losses as the part of damage | $ 290 | ||||
Estimated financial losses calculated by the court | $ 870 | ||||
Amount posted in supersedeas bond | $ 100 | ||||
Cash collateral for the amount posted in bonds | 5 | ||||
Description of terms and conditions for collateral | The Corporation, through certain subsidiaries, filed a notice of appeal to the Kentucky Court of Appeals and posted a $100 million supersedeas bond to stay enforcement of the order for damages during the pendency of the appeals process. | ||||
Letter of credit required for posting of the bond | $ 65 | ||||
Remaining credit facility after the letter of credit | $ 870 | ||||
Remaining balance of escrow fund established under merger agreement | $ 300 |
X | ||||||||||
- Definition The amount of claims and benefits paid to policyholders, net of reinsurance recoveries. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The description of the terms and conditions relating to financial assets pledged as collateral for liabilities or contingent liabilities. [Refer: Financial assets pledged as collateral for liabilities or contingent liabilities; Contingent liabilities [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The amount of the estimated financial effect of contingent liabilities. [Refer: Contingent liabilities [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount of financial assets that the entity has pledged as collateral for liabilities or contingent liabilities, including amounts that have been reclassified in accordance with paragraph 3.2.23(a) of IFRS 9. [Refer: Contingent liabilities [member]; Financial assets] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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X | ||||||||||
- Definition Bond amount for pendency of the appeals process. No definition available.
|
X | ||||||||||
- Definition Letter of credit required for posting of bond. No definition available.
|
X | ||||||||||
- Definition Remaining balance of escrow fund established under merger agreement. No definition available.
|
X | ||||||||||
- Definition Remaining credit facility after the letter of credit. No definition available.
|
Financial Instruments Risk Management - Schedule of Foreign Exchange Currency Exposure of Financial Instruments by Currency (Details) € in Thousands, £ in Thousands, $ in Thousands, $ in Thousands, $ in Thousands |
Dec. 31, 2018
USD ($)
|
Dec. 31, 2018
AUD ($)
|
Dec. 31, 2018
EUR (€)
|
Dec. 31, 2018
GBP (£)
|
Dec. 31, 2018
CAD ($)
|
Dec. 31, 2017
USD ($)
|
|||
---|---|---|---|---|---|---|---|---|---|
Disclosure Of Financial Instruments [Line Items] | |||||||||
Derivatives | [1] | $ (2,037) | |||||||
Long-term debt | $ (5,411,208) | (2,353,579) | [1] | ||||||
Derivatives | 16,493 | ||||||||
Customer deposits | $ (423,739) | $ (349,766) | [1] | ||||||
Foreign Exchange Risk | |||||||||
Disclosure Of Financial Instruments [Line Items] | |||||||||
Cash | $ 3,279 | € 102,757 | £ 150,372 | $ 10,098 | |||||
Restricted cash | 5,837 | 998 | |||||||
Equity in unquoted companies – FVTPL | € | 6,138 | ||||||||
Accounts receivable | 2,681 | 52,127 | 48,984 | 8,884 | |||||
Derivatives | € | 42,983 | ||||||||
Accounts payable and accrued liabilities | (46,700) | (52,457) | (176,978) | (10,811) | |||||
Long-term debt | € | (951,980) | ||||||||
Derivatives | (1,843) | (12,819) | |||||||
Customer deposits | $ (39,120) | € (83,582) | £ (53,418) | $ (407) | |||||
|
X | ||||||||||
- Definition The amount of cash on hand and demand deposits. [Refer: Cash on hand] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The amount of current deposits from customers. [Refer: Deposits from customers] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The amount of current derivative financial assets. [Refer: Derivative financial assets] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The amount of current derivative financial liabilities. [Refer: Derivative financial liabilities] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The amount of current financial assets measured at fair value through profit or loss. [Refer: Financial assets at fair value through profit or loss] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount of current trade receivables. [Refer: Trade receivables] Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
|
X | ||||||||||
- Definition The non-current portion of non-current borrowings. [Refer: Borrowings] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The amount of cash and cash equivalents whose use or withdrawal is restricted. [Refer: Cash and cash equivalents] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The amount of current trade payables and accrued liabilities. No definition available.
|
X | ||||||||||
- Details
|
Financial Instruments Risk Management - Additional Information (Details) - USD ($) $ in Thousands |
12 Months Ended | |
---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
|
Disclosure Of Financial Instruments [Line Items] | ||
Strengthening or weakening exchange rates | 10.00% | |
Sensitivity rate used when reporting foreign currency risk | 10.00% | |
USD First Lien Term Loan | ||
Disclosure Of Financial Instruments [Line Items] | ||
First lien term loan floor rate | 0.00% | |
EUR First Lien Term Loan | ||
Disclosure Of Financial Instruments [Line Items] | ||
First lien term loan floor rate | 0.00% | |
Foreign Exchange Risk | ||
Disclosure Of Financial Instruments [Line Items] | ||
Effect of exchange rate on earnings before tax, percentage | 10.00% | |
Interest Rate Risk | ||
Disclosure Of Financial Instruments [Line Items] | ||
Description of sensitivity rate | 100 basis points | |
Interest Rate Risk | USD First Lien Term Loan | ||
Disclosure Of Financial Instruments [Line Items] | ||
Borrowings, interest rate basis | interest rate cannot decrease below 3.50% | |
Interest Rate Risk | USD First Lien Term Loan | Minimum | ||
Disclosure Of Financial Instruments [Line Items] | ||
Interest rate | 3.50% | |
Interest Rate Risk | EUR First Lien Term Loan | ||
Disclosure Of Financial Instruments [Line Items] | ||
Borrowings, interest rate basis | the interest rate cannot decrease below 3.75% | |
Interest Rate Risk | EUR First Lien Term Loan | Minimum | ||
Disclosure Of Financial Instruments [Line Items] | ||
Interest rate | 3.75% | |
Credit risk [member] | ||
Disclosure Of Financial Instruments [Line Items] | ||
Allowance for doubtful accounts | $ 16,800 | $ 166,000 |
X | ||||||||||
- Definition The amount of an allowance account used to record impairments to financial assets due to credit losses. [Refer: Financial assets] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The interest rate on borrowings. [Refer: Borrowings] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The basis (reference rate) used for calculation of the interest rate on borrowings. [Refer: Borrowings] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
|
X | ||||||||||
- Definition The description of method, parameters and assumptions used in preparing a sensitivity analysis, such as value-at-risk, that reflects interdependencies between risk variables (for example, interest rates and exchange rates) and is used to manage financial risks. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Effect of exchange rate on earnings before tax percentage. No definition available.
|
X | ||||||||||
- Definition First lien term loan floor rate. No definition available.
|
X | ||||||||||
- Definition Increase decrease translation adjustment percent strengthening weakening. No definition available.
|
X | ||||||||||
- Definition Sensitivity factor rate to currency risk exposure. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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Financial Instruments Risk Management - Schedule of Effect on Earnings Before Tax of Exchange Rate (Details) € in Thousands, £ in Thousands, $ in Thousands, $ in Thousands, $ in Thousands |
12 Months Ended | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2018
USD ($)
|
Dec. 31, 2018
AUD ($)
|
Dec. 31, 2018
EUR (€)
|
Dec. 31, 2018
GBP (£)
|
Dec. 31, 2018
CAD ($)
|
Dec. 31, 2017
USD ($)
|
Dec. 31, 2016
USD ($)
|
||||||
Disclosure Of Financial Instruments [Line Items] | ||||||||||||
Equity | $ 4,153,400 | $ 2,303,431 | [1] | $ 2,201,728 | ||||||||
Net (loss) earnings | (108,906) | 259,285 | [2] | |||||||||
Foreign Exchange Risk | Strengthening Of L I B O R | ||||||||||||
Disclosure Of Financial Instruments [Line Items] | ||||||||||||
Earnings impact - gain (loss) | 10 | $ (43) | € (6,765) | £ 555 | $ (421) | |||||||
Equity impact - gain (loss) | 10 | 7,445 | 95,251 | 3,831 | (355) | |||||||
Foreign Exchange Risk | Strengthening Of L I B O R | USD:EUR exchange rate | ||||||||||||
Disclosure Of Financial Instruments [Line Items] | ||||||||||||
Equity | 266,280 | |||||||||||
Foreign Exchange Risk | Strengthening Of L I B O R | EUR:GBP exchange rate | ||||||||||||
Disclosure Of Financial Instruments [Line Items] | ||||||||||||
Equity | 146,614 | |||||||||||
Foreign Exchange Risk | Weakening Of L I B O R | ||||||||||||
Disclosure Of Financial Instruments [Line Items] | ||||||||||||
Earnings impact - gain (loss) | 10 | 43 | 6,765 | (555) | 421 | |||||||
Equity impact - gain (loss) | 10 | $ (7,445) | € (95,251) | £ (3,831) | $ 355 | |||||||
Foreign Exchange Risk | Weakening Of L I B O R | USD:EUR exchange rate | ||||||||||||
Disclosure Of Financial Instruments [Line Items] | ||||||||||||
Equity | (242,072) | |||||||||||
Foreign Exchange Risk | Weakening Of L I B O R | EUR:GBP exchange rate | ||||||||||||
Disclosure Of Financial Instruments [Line Items] | ||||||||||||
Equity | (133,285) | |||||||||||
Interest Rate Risk | Strengthening Of L I B O R | ||||||||||||
Disclosure Of Financial Instruments [Line Items] | ||||||||||||
Equity | 6,097 | |||||||||||
Interest Rate Risk | Strengthening Of L I B O R | USD:EUR exchange rate | ||||||||||||
Disclosure Of Financial Instruments [Line Items] | ||||||||||||
Net (loss) earnings | (7,886) | |||||||||||
Interest Rate Risk | Weakening Of L I B O R | ||||||||||||
Disclosure Of Financial Instruments [Line Items] | ||||||||||||
Equity | (6,690) | |||||||||||
Interest Rate Risk | Weakening Of L I B O R | USD:EUR exchange rate | ||||||||||||
Disclosure Of Financial Instruments [Line Items] | ||||||||||||
Net (loss) earnings | 7,249 | |||||||||||
Interest Rate Risk | Weakening of EURIBOR | ||||||||||||
Disclosure Of Financial Instruments [Line Items] | ||||||||||||
Equity | (50,227) | |||||||||||
Interest Rate Risk | Strengthening of EURIBOR | ||||||||||||
Disclosure Of Financial Instruments [Line Items] | ||||||||||||
Equity | $ 47,596 | |||||||||||
Net (loss) earnings | (4,734) | |||||||||||
Interest Rate Risk | Weakening of GBP LIBOR | ||||||||||||
Disclosure Of Financial Instruments [Line Items] | ||||||||||||
Equity | (60,259) | |||||||||||
Interest Rate Risk | Strengthening of GBP LIBOR | ||||||||||||
Disclosure Of Financial Instruments [Line Items] | ||||||||||||
Equity | $ 57,436 | |||||||||||
|
X | ||||||||||
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
|
X | ||||||||||
- Definition The amount of residual interest in the assets of the entity after deducting all its liabilities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The total of income less expenses, excluding the components of other comprehensive income. [Refer: Other comprehensive income] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Effect of exchange rate on earnings before tax. No definition available.
|
X | ||||||||||
- Definition Effect of exchange rate on equity before tax. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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Financial Instruments Risk Management - Schedule of Age of Receivables (Details) - Credit risk [member] - Trade receivables [member] - Receivables Past Due But Not Impaired - USD ($) $ in Thousands |
Dec. 31, 2018 |
Dec. 31, 2017 |
---|---|---|
Disclosure Of Financial Assets That Are Either Past Due Or Impaired [Line Items] | ||
Age of receivables past due | $ 4,412 | $ 2,586 |
Past Due Less Than 181 Days | ||
Disclosure Of Financial Assets That Are Either Past Due Or Impaired [Line Items] | ||
Age of receivables past due | 2,103 | 1,707 |
Past Due More Than 181 Days | ||
Disclosure Of Financial Assets That Are Either Past Due Or Impaired [Line Items] | ||
Age of receivables past due | $ 2,309 | $ 879 |
X | ||||||||||
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
|
X | ||||||||||
- Definition Age of receivables past due. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
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X | ||||||||||
- Details
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Financial Instruments Risk Management - Schedule of Age of Impaired Trade Receivables (Details) - Credit risk [member] - Financial Assets Impaired - Trade receivables [member] - USD ($) $ in Thousands |
Dec. 31, 2018 |
Dec. 31, 2017 |
---|---|---|
Disclosure Of Financial Assets That Are Either Past Due Or Impaired [Line Items] | ||
Age of impaired trade receivables | $ 16,828 | $ 166 |
Past Due Less Than 181 Days | ||
Disclosure Of Financial Assets That Are Either Past Due Or Impaired [Line Items] | ||
Age of impaired trade receivables | 308 | |
Past Due More Than 181 Days | ||
Disclosure Of Financial Assets That Are Either Past Due Or Impaired [Line Items] | ||
Age of impaired trade receivables | $ 16,520 | $ 166 |
X | ||||||||||
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
|
X | ||||||||||
- Definition The fair value of collateral available and other credit enhancements obtained for financial assets that are individually determined to be impaired. [Refer: Financial assets; Impairment loss] Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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Financial Instruments Risk Management - Schedule of Information about Terms of Financial Obligations and Liabilities (Details) - USD ($) $ in Thousands |
Dec. 31, 2018 |
Dec. 31, 2017 |
||||||
---|---|---|---|---|---|---|---|---|
Schedule Of Information About Terms Of Financial Obligations And Liabilities [Line Items] | ||||||||
Accounts payable and other liabilities | $ 424,007 | $ 194,187 | [1] | |||||
Customer deposits | 423,739 | 349,766 | [1] | |||||
Derivative Liabilities | 22,561 | 121,881 | ||||||
Long-term debt | 5,411,208 | $ 2,353,579 | [1] | |||||
Liquidity Risk | On Demand | ||||||||
Schedule Of Information About Terms Of Financial Obligations And Liabilities [Line Items] | ||||||||
Accounts payable and other liabilities | [2] | 131,268 | ||||||
Customer deposits | 431,376 | |||||||
Total | 562,644 | |||||||
Liquidity Risk | Within One Year | ||||||||
Schedule Of Information About Terms Of Financial Obligations And Liabilities [Line Items] | ||||||||
Accounts payable and other liabilities | [2] | 242,108 | ||||||
Derivative Liabilities | 16,493 | |||||||
Provisions | 39,189 | |||||||
Long-term debt | 349,328 | |||||||
Total | 647,118 | |||||||
Liquidity Risk | Later Than One Year but Not Later Than 5 Years | ||||||||
Schedule Of Information About Terms Of Financial Obligations And Liabilities [Line Items] | ||||||||
Accounts payable and other liabilities | [2] | 79,716 | ||||||
Derivative Liabilities | 6,068 | |||||||
Provisions | 3,844 | |||||||
Long-term debt | 1,363,382 | |||||||
Total | 1,453,010 | |||||||
Liquidity Risk | More Than 5 Years | ||||||||
Schedule Of Information About Terms Of Financial Obligations And Liabilities [Line Items] | ||||||||
Provisions | 158 | |||||||
Long-term debt | 5,816,656 | |||||||
Total | $ 5,816,814 | |||||||
|
X | ||||||||||
- Definition The amount of current deposits from customers. [Refer: Deposits from customers] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The amount of financial liabilities classified as derivative instruments. [Refer: Financial assets; Derivatives [member]] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The non-current portion of non-current borrowings. [Refer: Borrowings] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition The amount of provisions other than provisions for employee benefits. [Refer: Provisions] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Accounts payable and other liabilities. No definition available.
|
X | ||||||||||
- Definition Financial obligations and liabilities. No definition available.
|
X | ||||||||||
- Definition Schedule of information about terms of financial obligations and liabilities. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
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X | ||||||||||
- Details
|
Related Party Transactions - Summary of Compensation to Key Management Members (Details) - USD ($) $ in Thousands |
12 Months Ended | |
---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
|
Disclosure Of Transactions Between Related Parties [Abstract] | ||
Salaries, bonuses and short-term employee benefits | $ 10,320 | $ 4,514 |
Director retainers | 796 | 729 |
Stock-based payments | 6,824 | 3,799 |
Total key management personnel compensation | $ 17,940 | $ 9,042 |
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The amount of compensation to key management personnel. [Refer: Key management personnel of entity or parent [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount of compensation to key management personnel in the form of share-based payments. [Refer: Key management personnel of entity or parent [member]] Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition The amount of compensation to key management personnel in the form of salaries, bonuses and short-term employee benefits. No definition available.
|
X | ||||||||||
- Definition Key management personnel compensation to retain director. No definition available.
|
Subsequent Events - Additional Information (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Feb. 22, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
Disclosure Of Nonadjusting Events After Reporting Period [Line Items] | |||
Prepayment of loan including accrued & unpaid interest | $ 2,969,067 | $ 243,886 | |
USD First Lien Term Loan | Events After Reporting Period | |||
Disclosure Of Nonadjusting Events After Reporting Period [Line Items] | |||
Prepayment of loan including accrued & unpaid interest | $ 100,000 |
X | ||||||||||
- Definition Line items represent concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes of the table. No definition available.
|
X | ||||||||||
- Definition The cash outflow for repayments of non-current borrowings. [Refer: Borrowings] Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|