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Segments and Disaggregation of Revenue (Tables)

3 Months Ended

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 overhead1			(36	)			(35	)
Depreciation and amortization			(297	)			(297	)
Share-based compensation expense			(41	)			(46	)
Transaction fees and associated costs2			(29	)			(3	)
Restructuring and integration costs3			(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. 

X

- Definition

Tabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

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-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
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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

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