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CONSOLIDATED FINANCIAL INFORMATION | 9 Months Ended
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Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
CONSOLIDATED FINANCIAL INFORMATION | CONSOLIDATED FINANCIAL INFORMATION General and Administrative Expense Amounts included in General and administrative were as follows:
| Successor |  |  | Predecessor
(in thousands) | Three Months Ended September 30, 2025 |  | Period from February 8, 2025 to September 30, 2025 |  |  | Period from January 1, 2025 to February 7, 2025 |  | Three Months Ended September 30, 2024 |  | Nine Months Ended September 30, 2024
Advertising, general and administrative | $ | 262,601 |  |  | $ | 677,430 |  |  |  | $ | 100,969 |  |  | $ | 257,540 |  |  | $ | 713,963 |
Acquisition and integration | 28,606 |  |  | 51,945 |  |  |  | 2,199 |  |  | 7,319 |  |  | 18,016 |
Merger costs | 1,248 |  |  | 21,669 |  |  |  | 11,233 |  |  | 9,802 |  |  | 11,791 |
Restructuring charges, net(1) | — |  |  | — |  |  |  | — |  |  | (1,068) |  |  | 17,921 |
Impairment charges | — |  |  | — |  |  |  | — |  |  | — |  |  | 12,757 |
Total general and administrative | $ | 292,455 |  |  | $ | 751,044 |  |  |  | $ | 114,401 |  |  | $ | 273,593 |  |  | $ | 774,448 |
__________________________________ (1) Includes $0.3 million and $20.0 million of employee-related severance costs within the Company’s Casinos & Resorts reportable segment related to the closure of its Tropicana Las Vegas casino on April 4, 2024 and immaterial adjustments within the International Interactive and North America Interactive reportable segments related to the 2023 interactive technology restructuring initiatives. There was no restructuring liability as of September 30, 2025 (Successor) and December 31, 2024 (Predecessor) on the condensed consolidated balance sheets. Other Non-Operating (Expense) Income, Net Amounts included in Other non-operating (expense) income, net were as follows:
| Successor |  |  | Predecessor
(in thousands) | Three Months Ended September 30, 2025 |  | Period from February 8, 2025 to September 30, 2025 |  |  | Period from January 1, 2025 to February 7, 2025 |  | Three Months Ended September 30, 2024 |  | Nine Months Ended September 30, 2024
Loss on extinguishment of debt | $ | — |  |  | $ | (17,372) |  |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Change in value of performance warrants | — |  |  | — |  |  |  | (1,180) |  |  | (16,932) |  |  | (10,615) |
(Loss) gain on fair value of fair value option assets | (10,669) |  |  | 55,598 |  |  |  | — |  |  | — |  |  | — |
Net income (loss) from equity method investments | 6,413 |  |  | 7,877 |  |  |  | (594) |  |  | (1,073) |  |  | (284) |
Foreign exchange gain (loss) | (32,097) |  |  | (37,044) |  |  |  | 194 |  |  | (30,246) |  |  | (26,447) |
Other, net | (6,279) |  |  | (3,757) |  |  |  | (785) |  |  | (1,603) |  |  | (1,024) |
Total other non-operating income (expense), net | $ | (42,632) |  |  | $ | 5,302 |  |  |  | $ | (2,365) |  |  | $ | (49,854) |  |  | $ | (38,370) |
Interest Expense, Net Amounts included in interest expense, net were as follows:
| Successor |  |  | Predecessor
(in thousands) | Three Months Ended September 30, 2025 |  | Period from February 8, 2025 to September 30, 2025 |  |  | Period from January 1, 2025 to February 7, 2025 |  | Three Months Ended September 30, 2024 |  | Nine Months Ended September 30, 2024
Interest income | $ | 4,982 |  |  | $ | 10,321 |  |  |  | $ | (1) |  |  | $ | 6,296 |  |  | $ | 17,317 |
Interest expense | (110,848) |  |  | (265,446) |  |  |  | (27,228) |  |  | (80,271) |  |  | (238,623) |
Total interest expense, net | $ | (105,866) |  |  | $ | (255,125) |  |  |  | $ | (27,229) |  |  | $ | (73,975) |  |  | $ | (221,306) |

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