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Segment Information
 6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company operates its business and reports its results through two operating and reportable segments: B2C and B2B, in accordance with ASC Topic 280, Segment Reporting. The B2C segment provides users with Sportsbook, iGaming and DFS products, as well as media and other online consumer products. The B2B segment is involved in the design and development of sports betting and casino gaming software, which is primarily comprised of the Company’s wholly-owned subsidiary, SBTech (Global) Limited (“SBTech”).

Operating segments are components of the Company for which separate discrete financial information is available to and evaluated regularly by the chief operating decision maker (“CODM”), who is the Company’s Chief Executive Officer, in making decisions regarding resource allocation and assessing performance. The CODM assesses a combination of metrics such as revenue and Adjusted EBITDA to evaluate the performance of each operating and reportable segment.

Any intercompany revenues or expenses are eliminated in consolidation. All of the Company’s operating revenues and expenses, other than those excluded from Adjusted EBITDA as detailed below, are allocated to the Company’s reportable segments. The Company defines and calculates Adjusted EBITDA as net loss before the impact of interest income or expense (net), income tax provision or benefit, and depreciation and amortization, and further adjusted for the following items: stock-based compensation, transaction-related costs, litigation, settlement and related costs, advocacy and other related legal expenses, gain or loss on remeasurement of warrant liabilities and other non-recurring and non-operating costs or income, as described in the reconciliation below.
A measure of segment assets and liabilities has not been currently provided to the Company’s CODM and therefore is not shown below.
Summarized financial information for the Company’s segments is shown in the following table:
Three months ended June 30,Six months ended June 30,
2022202120222021
Revenue:    
B2C$454,715 $270,173 $858,425 $551,019 
B2B11,470 27,432 24,965 58,862 
Total revenue466,185 297,605 883,390 609,881 
Adjusted EBITDA:
B2C(98,904)(92,259)(368,075)(233,613)
B2B(19,230)(3,043)(39,568)(951)
Total adjusted EBITDA(118,134)(95,302)(407,643)(234,564)
Adjusted for:
Depreciation and amortization42,315 30,051 74,540 58,244 
Interest income, net(1,929)(1,642)(2,077)(2,627)
Income tax provision (benefit)(81,226)2,404 (80,757)(2,191)
Stock-based compensation135,521 171,739 322,598 323,582 
Transaction-related costs10,505 7,890 14,279 10,913 
Litigation, settlement and related costs2,446 3,599 4,396 4,221 
Advocacy and other related legal expenses
— 11,035 — 11,035 
(Gain) loss on remeasurement of warrant liabilities(14,315)(16,984)(26,996)9,996 
Other non-recurring and non-operating costs (income) 5,652 2,132 (28,830)4,133 
Net loss attributable to common shareholders$(217,103)$(305,526)$(684,796)$(651,870)
Due to the timing of the consummation of the GNOG Transaction, the above periods, to the extent applicable, exclude GNOG’s operations prior to the closing date of May 5, 2022.