Related Party Transactions |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Related Party Transactions [Abstract] | |
| Related party transactions | 14. Related party transactions Accounts Receivable The Company has a receivable from PDP for $0.2 million as of both March 31, 2026 and December 31, 2025.
Other current assets
The Company has a short-term advance to fund working capital to FCG for $1.1 million and $1.0 million as of March 31, 2026 and December 31, 2025, respectively. Related party debt
The Company has various long-term debt instruments with Infinite Acquisitions. These loans had $0 and $0.3 million accrued interest as of March 31, 2026 and December 31, 2025, respectively. Loans with Katmandu Ventures, LLC had accrued interest of $0.2 million as of both March 31, 2026 and December 31, 2025. A loan with Cecil and Marty Magpuri had accrued interest of less than $0.1 million as of both March 31, 2026 and December 31, 2025. During 2026, the Company entered into multiple non-interest bearing short-term working capital loans with Cecil Magpuri for $0.5 million. The loans were repaid in full by March 31, 2026. 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 were accounts receivable balances of $2.0 million and $1.6 million outstanding as of March 31, 2026 and December 31, 2025, respectively, related to the Intercompany Services Agreement. The Company recognizes related party revenue for corporate shared service support provided to FCG. The Company recognized $1.9 million and $1.6 million revenue related to services provided to FCG for the three months ended March 31, 2026 and 2025, respectively. FCG also provides marketing, research and development, and other services to FBG. The Company owes FCG $0.1 million related to these services as of both March 31, 2026, and December 31, 2025. The Company and FCG have also incurred reimbursable costs on behalf of each other. The Company had $1.0 million and $0.6 million in accounts receivable from FCG related to reimbursable costs as of March 31, 2026 and December 31, 2025, respectively. Equity method investment financing Scott Demerau, the Executive Chairman and his wife are investors of the lender that provided $2.75 million financing to a third party buyer of land sold by FCG in February 2026. |