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INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES | 9 Months Ended
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Sep. 30, 2023
Equity Method Investments and Joint Ventures [Abstract] |
INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES | INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES Investments in and advances to unconsolidated affiliates consisted of the following:
| September 30, 2023 |  | December 31, 2022
| (In thousands)
BetMGM (50%) | $ | — |  |  | $ | 31,760 |
Other | 231,998 |  |  | 141,279 |
| $ | 231,998 |  |  | $ | 173,039 |
The Company’s share of losses of BetMGM in excess of its equity method investment balance is $7 million as of September 30, 2023. The Company recorded its share of income (loss) from unconsolidated affiliates as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
| (In thousands)
Income (loss) from unconsolidated affiliates | $ | 22,507 |  |  | $ | (17,467) |  |  | $ | (68,681) |  |  | $ | (119,888) |
Non-operating items from unconsolidated affiliates | 438 |  |  | (995) |  |  | (1,187) |  |  | (22,248) |
| $ | 22,945 |  |  | $ | (18,462) |  |  | $ | (69,868) |  |  | $ | (142,136) |
The following table summarizes information related to the Company’s share of operating income (loss) from unconsolidated affiliates:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
| (In thousands)
MGP BREIT Venture (through April 29, 2022) | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 51,051 |
BetMGM | 12,629 |  |  | (23,582) |  |  | (91,743) |  |  | (186,804) |
Other | 9,878 |  |  | 6,115 |  |  | 23,062 |  |  | 15,865 |
| $ | 22,507 |  |  | $ | (17,467) |  |  | $ | (68,681) |  |  | $ | (119,888) |
In connection with the VICI Transaction in April 2022, the Company deconsolidated MGP and, accordingly, derecognized the assets and liabilities of MGP, which included MGP OP’s investment in MGP BREIT Venture. MGP BREIT Venture distributions. During the nine months ended September 30, 2022, MGP OP received $32 million in distributions from MGP BREIT Venture. BetMGM contributions. During the nine months ended September 30, 2023, the Company contributed $50 million to BetMGM. During the three and nine months ended September 30, 2022, the Company contributed $50 million and $200 million to BetMGM, respectively.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 323 -SubTopic 740 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481543/323-740-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 323 -Publisher FASB -URI https://asc.fasb.org//323/tableOfContent + Details
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