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Segments and Disaggregation of Revenue (Tables) | 3 Months Ended
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Mar. 31, 2024
Segment Reporting [Abstract] |
Schedule of Group's Segment Information | The following tables present the Group’s segment information:
|  | Three months ended March 31, |
($ in millions) |  | 2024 |  |  | 2023 |
Revenue |  |  |  |  |  |  |  |
U.S. |  |  |  |  |  |  |  |
Sportsbook |  | $ | 986 |  |  | $ | 759 |
iGaming |  |  | 358 |  |  |  | 241 |
Other |  |  | 66 |  |  |  | 71 |
U.S. segment revenue |  |  | 1,410 |  |  |  | 1,071 |
UKI |  |  |  |  |  |  |  |
Sportsbook |  |  | 411 |  |  |  | 376 |
iGaming |  |  | 406 |  |  |  | 319 |
Other |  |  | 44 |  |  |  | 41 |
UKI segment revenue |  |  | 861 |  |  |  | 736 |
International |  |  |  |  |  |  |  |
Sportsbook |  |  | 160 |  |  |  | 181 |
iGaming |  |  | 600 |  |  |  | 553 |
Other |  |  | 37 |  |  |  | 26 |
International segment revenue |  |  | 797 |  |  |  | 760 |
Australia |  |  |  |  |  |  |  |
Sportsbook |  |  | 329 |  |  |  | 351 |
Australia segment revenue |  |  | 329 |  |  |  | 351 |
Total reportable segment revenue |  | $ | 3,397 |  |  | $ | 2,918 |
Schedule of Revenue by Geographical Market | The information below summarizes revenue by geographical market for the three months ended March 31, 2024 and 2023:
|  | Three months ended March 31, |
($ in millions) |  | 2024 |  |  | 2023 |
U.S. |  | $ | 1,399 |  |  | $ | 1,083 |
UK |  |  | 782 |  |  |  | 660 |
Ireland |  |  | 77 |  |  |  | 78 |
Australia |  |  | 329 |  |  |  | 351 |
Italy |  |  | 365 |  |  |  | 369 |
Rest of the world |  |  | 445 |  |  |  | 377 |
Total revenue |  | $ | 3,397 |  |  | $ | 2,918 |
The information below shows the reconciliation of reportable segment Adjusted EBITDA to loss before taxes for the three months ended March 31, 2024, and 2023:
|  | Three months ended March 31, |
($ in millions) |  | 2024 |  |  | 2023 |
U.S. |  | $ | 26 |  |  | $ | (53 | )
UKI |  |  | 268 |  |  |  | 206 |
International |  |  | 173 |  |  |  | 149 |
Australia |  |  | 83 |  |  |  | 85 |
Reportable segment adjusted EBITDA |  |  | 550 |  |  |  | 387 |
Unallocated corporate overhead 1 |  |  | (36 | ) |  |  | (35 | )
Depreciation and amortization |  |  | (297 | ) |  |  | (297 | )
Share-based compensation expense |  |  | (41 | ) |  |  | (46 | )
Transaction fees and associated costs 2 |  |  | (29 | ) |  |  | (3 | )
Restructuring and integration costs 3 |  |  | (23 | ) |  |  | (21 | )
Other expense, net |  |  | (174 | ) |  |  | (45 | )
Interest expense, net |  |  | (112 | ) |  |  | (92 | )
Loss before taxes |  | $ | (162 | ) |  | $ | (152 | )
1. | Unallocated corporate overhead includes shared technology, research and development, sales and marketing, and general and administrative expenses that are not allocated to specific segments.
2 | Comprises advisory fees of $25 million related to implementation of internal controls , information system changes and other activities related to the anticipated change in the primary listing of the Group for the three months ended March 31, 2024.
3 | During the three months ended March 31, 2024, costs of $23 million (three months ended March 31, 2023: $21 million) primarily relate to various restructuring and other strategic initiatives to drive synergies. These actions include efforts to consolidate and integrate our technology infrastructure, back-office functions and relocate certain operations to lower cost locations. The costs primarily include severance expenses, advisory fees and temporary staffing cost.

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- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2 + Details
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