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INVESTMENTS IN AND ADVANCES TO UNCONSOLIDATED AFFILIATES | 9 Months Ended
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Sep. 30, 2025
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 were $540 million and $381 million as of September 30, 2025 and December 31, 2024, respectively. The Company’s share of losses of BetMGM North America Venture in excess of its equity method investment balance is $55 million and $89 million as of September 30, 2025 and December 31, 2024, respectively, which is recorded within “Other accrued liabilities” on the consolidated balance sheets. The Company recorded its share of income (loss) from unconsolidated affiliates as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
| (In thousands)
Income (loss) from unconsolidated affiliates | $ | 25,642 |  |  | $ | 7,989 |  |  | $ | 38,606 |  |  | $ | (51,319) |
Non-operating items from unconsolidated affiliates | 5,942 |  |  | 417 |  |  | 2,149 |  |  | 2,043 |
| $ | 31,584 |  |  | $ | 8,406 |  |  | $ | 40,755 |  |  | $ | (49,276) |
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,
| 2025 |  | 2024 |  | 2025 |  | 2024
| (In thousands)
BetMGM North America Venture | $ | 23,725 |  |  | $ | 3,211 |  |  | $ | 30,294 |  |  | $ | (67,781) |
Other | 1,917 |  |  | 4,778 |  |  | 8,312 |  |  | 16,462 |
| $ | 25,642 |  |  | $ | 7,989 |  |  | $ | 38,606 |  |  | $ | (51,319) |

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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/recommendedDisclosureRef -Topic 740 -SubTopic 323 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478156/740-323-50-2 Reference 2: 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 3: 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 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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