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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Operating activities        
Net loss $ (865.1) $ (37.5) $ (771.9) $ (179.5)
Adjustments to reconcile net loss to net cash provided by operating activities:        
Depreciation and amortization 114.2 108.7 332.7 326.5
Non-cash interest expense     14.2 34.1
Non-cash operating lease expense     266.0 236.5
Gain on REIT transaction, net (3.3) 0.0 (3.3) 0.0
Income from unconsolidated affiliates (8.2) (7.1) (29.1) (22.1)
Return on investment from unconsolidated affiliates     28.5 24.6
Deferred income taxes     55.5 (34.9)
Stock-based compensation 16.8 12.9 48.5 39.0
Investment Agreement warrant expense     43.0 53.4
Impairment losses 825.0 0.0 840.0 0.0
Gain on financing arrangement 0.0 0.0 (215.1) 0.0
Loss on early extinguishment of debt 0.0 0.0 11.8 0.0
Changes in operating assets and liabilities        
Accounts receivable     24.3 76.3
Prepaid expenses and other current assets     11.8 33.6
Other assets     (13.8) (38.4)
Accounts payable     7.5 29.8
Accrued expenses     1.0 (84.7)
Income taxes     (2.1) 22.0
Operating lease liabilities     (254.6) (222.3)
Other current and long-term liabilities     (17.5) (67.9)
Other     23.6 30.4
Net cash provided by operating activities     401.0 256.4
Investing activities        
Capital expenditures     (457.3) (261.7)
Proceeds from sale-and-leaseback transactions in conjunction with development projects     130.0 0.0
Proceeds from sale of investments     17.8 0.5
Consideration paid for gaming licenses and other intangible assets     (29.3) (49.4)
Other     35.5 (2.1)
Net cash used in investing activities     (303.3) (312.7)
Financing activities        
Proceeds from revolving credit facility     727.5 0.0
Repayments of revolving credit facility     (217.5) 0.0
Repurchases of convertible debt     (223.8) 0.0
Principal payments on long-term debt     (28.2) (28.2)
Principal payments on financing obligations     (32.4) (30.5)
Principal payments on finance leases     (39.8) (37.5)
Repurchases of common stock     (269.4) 0.0
Payments on insurance financing     (27.1) (28.6)
Indemnification payments     0.0 (30.5)
Other     (18.3) (19.7)
Net cash used in financing activities     (129.0) (175.0)
Effect of currency rate changes on cash, cash equivalents, and restricted cash     (0.4) (0.9)
Change in cash, cash equivalents, and restricted cash     (31.7) (232.2)
Cash, cash equivalents, and restricted cash at the beginning of the year     723.8 1,094.4
Cash, cash equivalents, and restricted cash at the end of the period 692.1 862.2 692.1 862.2
Reconciliation of cash, cash equivalents, and restricted cash:        
Cash and cash equivalents 660.1 834.0 660.1 834.0
Restricted cash included in Other current assets 30.8 27.0 30.8 27.0
Restricted cash included in Other assets 1.2 1.2 1.2 1.2
Total cash, cash equivalents, and restricted cash $ 692.1 $ 862.2 692.1 862.2
Supplemental disclosure:        
Cash paid for interest, net of amounts capitalized     292.2 324.6
Non-cash activities:        
Accrued capital expenditures     $ 62.8 $ 54.1