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Leases (Tables) | 12 Months Ended
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Dec. 31, 2023
Leases [Abstract] |
Summary of Lease Assets and Liabilities | The following table summarizes the balance sheet classification of the Company's lease assets and liabilities (in thousands):
|  |  | December 31,
| Balance Sheet Classification |  | 2023 |  | 2022
Assets |  |  |  |  |
Operating leases | Operating lease assets |  | $ | 1,832,896 |  |  | $ | 1,853,164 |
Finance leases | Property and equipment, net |  | $ | 43,078 |  |  | $ | 52,848 |
Current liabilities |  |  |  |  |
Operating leases | Other accrued liabilities |  | $ | 9,295 |  |  | $ | 9,905 |
Finance leases | Other accrued liabilities |  | $ | 13,412 |  |  | $ | 18,416 |
Non-current liabilities |  |  |  |  |
Operating leases | Long-term operating lease liabilities |  | $ | 1,631,749 |  |  | $ | 1,615,157 |
Finance leases | Other long-term liabilities |  | $ | 24,028 |  |  | $ | 29,407 |
Schedule of Lease Cost and Other Information | The following tables disclose the components of the Company's lease cost, supplemental cash flow disclosures, and other information regarding the Company's lease arrangements (in thousands):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Lease cost: |  |  |  |  |
Operating lease cost | $ | 17,173 |  |  | $ | 18,321 |  |  | $ | 22,878 |
Triple-net operating lease cost related to Encore Boston Harbor | 141,722 |  |  | 11,773 |  |  | — |
Short-term lease cost | 27,468 |  |  | 21,060 |  |  | 16,224 |
Amortization of leasehold interests in land | 13,666 |  |  | 13,728 |  |  | 13,862 |
Variable lease cost | 1,868 |  |  | 1,081 |  |  | 911 |
Finance lease interest cost | 2,363 |  |  | 2,131 |  |  | 2,216 |
Total lease cost | $ | 204,260 |  |  | $ | 68,094 |  |  | $ | 56,091 |
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Supplemental cash flow disclosures: |  |  |  |  |
Operating lease liabilities arising from obtaining operating lease assets | $ | 26,657 |  |  | $ | 1,519,628 |  |  | $ | 3,761 |
Finance lease liabilities arising from obtaining finance lease assets | $ | 8,842 |  |  | $ | 5,906 |  |  | $ | 7,423 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |
Cash used in operating activities - Operating leases | $ | 139,054 |  |  | $ | 26,094 |  |  | $ | 21,404 |
Cash used in financing activities - Finance leases | $ | 19,267 |  |  | $ | 18,188 |  |  | $ | 15,658 |
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Other information: |  |  |  |  |
Weighted-average remaining lease term - Operating leases | 30.1 years |  | 31.1 years |  | 46.5 years
Weighted-average remaining lease term - Finance leases | 19.7 years |  | 16.0 years |  | 14.0 years
Weighted-average discount rate - Operating leases | 8.0 | % |  | 8.0 | % |  | 6.6 | %
Weighted-average discount rate - Finance leases | 5.8 | % |  | 5.0 | % |  | 4.7 | %
Schedule of Operating Lease Maturity Analysis | The following table presents an analysis of lease liability maturities as of December 31, 2023 (in thousands):
Year Ending December 31, |  | Operating Leases |  | Finance Leases
2024 |  | $ | 142,219 |  |  | $ | 15,064 |
2025 |  | 142,674 |  |  | 4,348 |
2026 |  | 142,954 |  |  | 4,016 |
2027 |  | 145,444 |  |  | 2,551 |
2028 |  | 146,561 |  |  | 989 |
Thereafter |  | 3,836,365 |  |  | 61,796 |
Total undiscounted cash flows |  | $ | 4,556,217 |  |  | $ | 88,764 |
Present value |  |  |  |
Short-term lease liabilities |  | $ | 9,295 |  |  | $ | 13,412 |
Long-term lease liabilities |  | 1,631,749 |  |  | 24,028 |
Total lease liabilities |  | $ | 1,641,044 |  |  | $ | 37,440 |
Interest on lease liabilities |  | $ | 2,915,173 |  |  | $ | 51,324 |
Schedule of Finance Lease Maturity Analysis | The following table presents an analysis of lease liability maturities as of December 31, 2023 (in thousands):
Year Ending December 31, |  | Operating Leases |  | Finance Leases
2024 |  | $ | 142,219 |  |  | $ | 15,064 |
2025 |  | 142,674 |  |  | 4,348 |
2026 |  | 142,954 |  |  | 4,016 |
2027 |  | 145,444 |  |  | 2,551 |
2028 |  | 146,561 |  |  | 989 |
Thereafter |  | 3,836,365 |  |  | 61,796 |
Total undiscounted cash flows |  | $ | 4,556,217 |  |  | $ | 88,764 |
Present value |  |  |  |
Short-term lease liabilities |  | $ | 9,295 |  |  | $ | 13,412 |
Long-term lease liabilities |  | 1,631,749 |  |  | 24,028 |
Total lease liabilities |  | $ | 1,641,044 |  |  | $ | 37,440 |
Interest on lease liabilities |  | $ | 2,915,173 |  |  | $ | 51,324 |
Schedule of Minimum and Contingent Operating Lease Income | The following table presents the minimum and contingent operating lease income for the periods presented (in thousands):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Minimum rental income | $ | 131,901 |  |  | $ | 126,226 |  |  | $ | 104,860 |
Contingent rental income | 96,831 |  |  | 62,586 |  |  | 97,521 |
Total rental income | $ | 228,732 |  |  | $ | 188,812 |  |  | $ | 202,381 |
Schedule of Future Minimum Rentals to be Received Under Operating Leases | The following table presents the future minimum rentals to be received under operating leases (in thousands):
Year Ending December 31, | Operating Leases
2024 | $ | 135,414 |
2025 | 120,675 |
2026 | 87,482 |
2027 | 69,912 |
2028 | 42,834 |
Thereafter | 65,961 |
Total future minimum rentals | $ | 522,278 |

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