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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities      
Net loss $ (60,055) $ (134,332) $ (71,092)
Adjustments to reconcile net loss to net cash used in operating activities      
Share-based compensation expense 30,020 18,691 24,912
Depreciation and amortization expense 29,759 14,325 4,245
Deferred income tax (255) (50) 64
Noncash lease expense 697 616 355
Long-lived assets write off 683 0 0
Change in fair value of earnout interests liability 0 0 13,740
Change in fair value of warrant liabilities 0 0 (41,802)
Changes in assets and liabilities:      
Players’ receivables 658 (5,345) (5,050)
Due from affiliates 2,433 (7,745) 605
Prepaid expenses and other current assets 722 (3,879) (4,562)
Other assets (950) 312 (1,406)
Accounts payable 1,806 23,331 (5,546)
Accrued expenses and other current liabilities (8,816) 17,472 22,077
Players’ liabilities (377) 18,352 15,660
Deferred royalty liabilities (1,525) (1,416) (30)
Operating lease liabilities (732) (653) (356)
Net cash used in operating activities (5,932) (60,321) (48,186)
Cash flows from investing activities      
Purchases of property and equipment (1,291) (4,157) (3,847)
Acquisition of gaming licenses (7,279) (5,484) (23,535)
Internally developed software costs (22,619) (16,770) (4,091)
Investments in equity securities (470) 0 (1,500)
Short-term investments (3,061) 0 0
Proceeds from (investment in) long-term time deposits 1,705 (689) (748)
Net cash used in investing activities (33,780) (28,990) (37,002)
Cash flows from financing activities      
Proceeds from shares issued for warrants 0 0 131,588
Repurchase of common stock 0 0 (3,465)
Principal payments of finance lease liabilities (518) (1,216) (2,142)
Distributions paid to non-controlling interest holders 0 0 (397)
Net cash (used in) provided by financing activities (518) (1,216) 125,584
Effect of exchange rate changes on cash, cash equivalents and restricted cash 5,126 (3,721) (2,132)
Net change in cash, cash equivalents and restricted cash (35,104) (94,248) 38,264
Cash, cash equivalents and restricted cash, at the beginning of the year 206,081 300,329 262,065
Cash, cash equivalents and restricted cash, at the end of the year 170,977 206,081 300,329
Supplemental disclosure of noncash investing and financing activities:      
Right-of-use assets obtained in exchange for new or modified operating lease liabilities 210 965 810
Right-of-use assets obtained in exchange for new or modified finance lease liabilities 2,423 1,124 2,547
Non-cash redemption of Private Placement and Working Capital Warrants 0 0 50,798
Non-cash settlement of Public Warrants 0 0 77,509
Non-cash settlement of Earnout Interests Liability 0 0 364,788
Reissuance of treasury stock 0 0 850
Acquisition of gaming licenses in exchange for future minimum market access fees 0 0 13,070
Allocation of equity and non-controlling interests upon changes in RSILP ownership 4,988 4,140 11,288
Property and equipment purchases in Accounts payable and Accrued Expenses 212 (29) 53
Capitalized intangible assets in Accounts payable and Accrued Expenses 609 0 0
Supplemental disclosure of cash flow information:      
Cash paid for income taxes 7,385 6,795 3,541
Cash paid for interest 938 937 123
Trademark Asset      
Cash flows from investing activities      
Payments to acquire intangible assets 0 (1,890) 0
Developed Technology      
Cash flows from investing activities      
Payments to acquire intangible assets 0 0 (3,281)
Supplemental disclosure of noncash investing and financing activities:      
Stock issued to acquire intangible assets 0 0 2,500
Media Content      
Cash flows from investing activities      
Payments to acquire intangible assets (765) 0 0
Class V Common Stock | Trademark Asset      
Supplemental disclosure of noncash investing and financing activities:      
Stock issued to acquire intangible assets 0 2,400 0
Class A Common Stock | Trademark Asset      
Supplemental disclosure of noncash investing and financing activities:      
Stock issued to acquire intangible assets $ 0 $ 300 $ 0