Related Party Transactions |
6 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Related Party Transactions [Abstract] | |
| Related party transactions | 9. Related party transactions Accounts Receivable The Company has a receivable from PDP for $0.1 million and $0.3 million as of June 30, 2025 and December 31, 2024. Accounts Payable The Company reimburses certain audit and professional fees on behalf of PDP and Sierra Parima. There were $0 and $1.4 million unreimbursed audit and professional fees as of June 30, 2025 and December 31, 2024 related to PDP and Sierra Parima. The Company incurred expenses related to reimbursable audit and professional fees of $0 for the $0.2 million for the three and six months ended June 30, 2024, respectively. Related party debt The Company has various long-term debt instruments with Infinite Acquisitions. These loans had $0.7 million and $0.5 million accrued interest as of June 30, 2025, and December 31, 2024, respectively. Loans with Katmandu Ventures, LLC had accrued interest of $0.2 million and $0.1 million as of June 30, 2025 and December 31, 2024, respectively. Accrued interest is included within Accrued expenses and other current liabilities on the unaudited condensed consolidated balance sheets. Services provided to equity method investments FCG has been contracted for various design, master planning, attraction design, hardware sales and commercial services for themed entertainment offerings by the Company’s equity method investments. Destinations Operations recognizes management and incentive fees from the Company’s equity method investments. Intercompany Services Agreement between FCG and the Company There was a $0 and $0.7 million accounts receivable balance outstanding as of June 30, 2025 and December 31, 2024 related to the Intercompany Services Agreement. The Company recognizes related party revenue for corporate shared service support provided to FCG and PDP. Total related party revenues from services provided to our equity method investments were $1.7 million and $1.8 million for the three months ended June 30, 2025 and 2024, respectively. Of the total related party revenues from services provided to our equity method investments, the Company recognized $1.6 million and $1.7 million revenue related to services provided to FCG for the three months ended June 30, 2025 and 2024, respectively. Total related party revenues from services provided to our equity method investments were $3.4 million and $3.3 million for the six months ended June 30, 2025 and 2024, respectively. Of the total related party revenues from services provided to our equity method investments, the Company recognized $3.2 million revenue related to services provided to FCG for the six months ended June 30, 2025 and 2024. FCG also provides marketing, research and development, and other services to FBG. The Company owes FCG $0.4 million and $0.2 million related to these services as of June 30, 2025, and December 31, 2024, respectively. The Company and FCG have also incurred reimbursable costs on behalf of each other. The Company had $0.3 million and $0.7 million in accounts receivable from FCG related to reimbursable costs as of June 30, 2025 and December 31, 2024, respectively. Subscription agreement with Infinite Acquisitions Infinite Acquisitions irrevocably committed to invest $12.8 million in the Company. As of June 30, 2025, Infinite Acquisitions has not met its commitment. |