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Leases (Tables)
 12 Months Ended
Dec. 31, 2025
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 Classification20252024
Assets
Operating leasesOperating lease assets $1,778,052 $1,797,276 
Finance leasesProperty and equipment, net$104,028 $94,656 
Current liabilities
Operating leasesOther accrued liabilities$14,566 $10,869 
Finance leasesOther accrued liabilities$27,810 $18,367 
Non-current liabilities
Operating leasesLong-term operating lease liabilities$1,629,117 $1,623,890 
Finance leasesOther long-term liabilities$73,749 $71,592 
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,
202520242023
Lease cost:
Operating lease cost$17,403 $17,146 $17,173 
Triple-net operating lease cost related to Encore Boston Harbor141,491 141,576 141,722 
Short-term lease cost21,832 30,443 27,468 
Amortization of leasehold interests in land 13,716 13,704 13,666 
Variable lease cost2,790 2,493 1,868 
Finance lease interest cost7,137 3,391 2,363 
Total lease cost$204,369 $208,753 $204,260 

Year Ended December 31,
202520242023
Supplemental cash flow disclosures:
Operating lease liabilities arising from obtaining operating lease assets$20,510 $3,803 $26,657 
Finance lease liabilities arising from obtaining finance lease assets$41,154 $80,021 $8,842 
Cash paid for amounts included in the measurement of lease liabilities:
Cash used in operating activities - Operating leases $143,538 $141,004 $139,054 
Cash used in financing activities - Finance leases$25,804 $19,219 $19,267 
Year Ended December 31,
202520242023
Other information:
Weighted-average remaining lease term - Operating leases28.1 years29.1 years30.1 years
Weighted-average remaining lease term - Finance leases8.6 years10.5 years19.7 years
Weighted-average discount rate - Operating leases8.0 %8.0 %8.0 %
Weighted-average discount rate - Finance leases6.3 %6.3 %5.8 %
Schedule of Operating Lease Maturity Analysis
The following table presents an analysis of lease liability maturities as of December 31, 2025 (in thousands):

Year Ending December 31,Operating LeasesFinance Leases
2026$146,106 $33,228 
2027148,270 32,964 
2028148,935 28,933 
2029150,760 1,357 
2030151,243 989 
Thereafter3,548,988 59,817 
Total undiscounted cash flows$4,294,302 $157,288 
Present value
Short-term lease liabilities$14,566 $27,810 
Long-term lease liabilities1,629,117 73,749 
Total lease liabilities$1,643,683 $101,559 
Interest on lease liabilities$2,650,619 $55,729 
Schedule of Finance Lease Maturity Analysis
The following table presents an analysis of lease liability maturities as of December 31, 2025 (in thousands):

Year Ending December 31,Operating LeasesFinance Leases
2026$146,106 $33,228 
2027148,270 32,964 
2028148,935 28,933 
2029150,760 1,357 
2030151,243 989 
Thereafter3,548,988 59,817 
Total undiscounted cash flows$4,294,302 $157,288 
Present value
Short-term lease liabilities$14,566 $27,810 
Long-term lease liabilities1,629,117 73,749 
Total lease liabilities$1,643,683 $101,559 
Interest on lease liabilities$2,650,619 $55,729 
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,
202520242023
Minimum rental income$150,201 $138,604 $131,901 
Contingent rental income60,407 66,526 96,831 
Total rental income$210,608 $205,130 $228,732 
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
2026$136,149 
2027120,305 
202896,968 
202970,532 
203055,307 
Thereafter220,490 
Total future minimum rentals$699,751