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Note 5 - Long-term Debt | 9 Months Ended
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Sep. 30, 2025
Notes to Financial Statements |
Long-Term Debt [Text Block] | NOTE 5. LONG-TERM DEBT Long-term debt, net of current maturities and debt issuance costs, consists of the following:
|  | September 30, 2025 |
|  | Interest |  |  |  |  |  |  | Unamortized |  |  |  |  |
|  | Rates at |  |  |  |  |  |  | Origination |  |  |  |  |
|  | September 30, |  |  | Outstanding |  |  | Fees and |  |  | Long-Term |
(In thousands) |  | 2025 |  |  | Principal |  |  | Costs |  |  | Debt, Net |
Credit facility |  |  | 6.190 | % |  | $ | 9,300 |  |  | $ | (4,639 | ) |  | $ | 4,661 |
4.750% senior notes due 2027 |  |  | 4.750 | % |  |  | 1,000,000 |  |  |  | (4,383 | ) |  |  | 995,617 |
4.750% senior notes due 2031 |  |  | 4.750 | % |  |  | 900,000 |  |  |  | (7,752 | ) |  |  | 892,248 |
Long-term debt, net |  |  |  |  |  | $ | 1,909,300 |  |  | $ | (16,774 | ) |  | $ | 1,892,526 |
|  | December 31, 2024 |
|  | Interest |  |  |  |  |  |  | Unamortized |  |  |  |  |
|  | Rates at |  |  |  |  |  |  | Origination |  |  |  |  |
|  | December 31, |  |  | Outstanding |  |  | Fees and |  |  | Long-Term |
(In thousands) |  | 2024 |  |  | Principal |  |  | Costs |  |  | Debt, Net |
Credit facility |  |  | 6.169 | % |  | $ | 1,300,300 |  |  | $ | (9,109 | ) |  | $ | 1,291,191 |
4.750% senior notes due 2027 |  |  | 4.750 | % |  |  | 1,000,000 |  |  |  | (5,844 | ) |  |  | 994,156 |
4.750% senior notes due 2031 |  |  | 4.750 | % |  |  | 900,000 |  |  |  | (8,763 | ) |  |  | 891,237 |
Other |  |  | 5.208 | % |  |  | 6 |  |  |  | — |  |  |  | 6 |
Total long-term debt |  |  |  |  |  |  | 3,200,306 |  |  |  | (23,716 | ) |  |  | 3,176,590 |
Less current maturities |  |  |  |  |  |  | 44,006 |  |  |  | — |  |  |  | 44,006 |
Long-term debt, net |  |  |  |  |  | $ | 3,156,300 |  |  | $ | (23,716 | ) |  | $ | 3,132,584 |
The outstanding principal amounts under the Credit Facility are comprised of the following:
|  | September 30, |  |  | December 31, |
(In thousands) |  | 2025 |  |  | 2024 |
Revolving Credit Facility |  | $ | — |  |  | $ | 475,000 |
Term A Loan |  |  | — |  |  |  | 759,000 |
Swing Loan |  |  | 9,300 |  |  |  | 66,300 |
Total outstanding principal amounts |  | $ | 9,300 |  |  | $ | 1,300,300 |
The Company used the $1,758.0 million cash proceeds from the sale of the Equity Interest in FanDuel, as discussed in Note 1, Summary of Significant Accounting Policies, to pay down the then outstanding Credit Facility debt, which consisted of $915.0 million on the Revolving Credit Facility, $726.0 million on the Term A Loan and $39.9 million on the Swing Loan. The full repayment of the outstanding Term A Loan extinguished the Term A Loan under the Credit Facility. With a total revolving credit commitment of $1,450.0 million available under the Credit Facility, $9.3 million in borrowings outstanding on the Swing Loan, and $12.7 million allocated to support various letters of credit, there was a remaining contractual availability under the Credit Facility of $1,428.0 million as of September 30, 2025. Early Extinguishments and Modifications of Debt During the three and nine months ended September 30, 2025, the Company incurred $1.4 million in loss on early extinguishments of debt due to the full repayment and extinguishment of the Term A Loan with proceeds from the sale of the Equity Interest in FanDuel. The $1.4 million incurred relates to the write-off of unamortized deferred finance charges associated with the Term A Loan. Covenant Compliance As of September 30, 2025, we were in compliance with the financial covenants of our debt instruments.

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