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CONSOLIDATED FINANCIAL INFORMATION | 12 Months Ended
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Dec. 31, 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
| Period from February 8, 2025 to December 31, 2025 |  |  | Period from January 1, 2025 to February 7, 2025 |  | Year Ended December 31, 2024
(in thousands) |  |  |
Advertising, general and administrative(1) | $994,557 |  |  | $100,969 |  | $976,153
Acquisition and integration | 109,509 |  |  | 2,199 |  | 24,729
Merger costs(2) | 22,677 |  |  | 11,233 |  | 14,808
Provision for credit loss on long-term note receivable(3) | 17,074 |  |  | — |  | —
Loss on disposal of business(3) | — |  |  | — |  | 27,796
Total general and administrative | $1,143,817 |  |  | $114,401 |  | $1,043,486
__________________________________ (1)For the year ended December 31, 2024 (Predecessor), includes $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. There was no restructuring liability as of December 31, 2025 (Successor) and December 31, 2024 (Predecessor) on the consolidated balance sheets. (2)Refer to Note 1 “General Information” for further information. (3)Refer to Note 3 “Related Party Transactions” for further information. Other Non-Operating Income (Expense) Amounts included in Other non-operating income (expense), net were as follows:
| Successor |  |  | Predecessor
| Period from February 8, 2025 to December 31, 2025 |  |  | Period from January 1, 2025 to February 7, 2025 |  | Year Ended December 31, 2024
(in thousands) |  |  |
Gain on fair value of fair value option assets | $218,950 |  |  | $— |  | $—
Change in value of contingent consideration | (63,176) |  |  | (786) |  | (1,343)
Net income (loss) from equity method investments | (3,264) |  |  | (594) |  | (1,850)
Change in value of performance warrants | — |  |  | (1,180) |  | (13,965)
Foreign exchange (loss) gain | (34,768) |  |  | 194 |  | 10,271
Loss on extinguishment of debt | (93,120) |  |  | — |  | —
Other, net | 338 |  |  | 1 |  | 2,342
Total other non-operating income (expense), net | $24,960 |  |  | $(2,365) |  | $(4,545)
Interest Expense, Net Amounts included in Interest expense, net were as follows:
| Successor |  |  | Predecessor
| Period from February 8, 2025 to December 31, 2025 |  |  | Period from January 1, 2025 to February 7, 2025 |  | Year Ended December 31, 2024
(in thousands) |  |  |
Interest income | $8,340 |  |  | $(1) |  | $20,718
Interest expense | (373,573) |  |  | (27,228) |  | (310,347)
Total interest expense, net | $(365,233) |  |  | $(27,229) |  | $(289,629)

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