FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2026

Schedule of the Group's Financial Assets, Financial Liabilities and Redeemable Non-Controlling Interests

The following tables set forth the fair value of the Group’s financial assets, financial liabilities and redeemable non-controlling interests measured at fair value based on the three-tier fair value hierarchy:


	As of June 30, 2026
($ in millions)	Level 1		Level 2		Level 3		Total
Financial assets measured at fair value:
Available for sale – Player deposits – Investments	$	5	$	—	$	—	$	5
Equity securities – Investments	—		—		6		6
Derivative financial assets	—		60		—		60
Total	5		60		6		71
Financial liabilities measured at fair value:
Derivative financial liabilities	—		22		—		22
Fox Option liability	—		—		220		220

Total	—		22		220		242
Redeemable non-controlling interests at fair value	$	—	$	—	$	269	$	269


	As of December 31, 2025
($ in millions)	Level 1		Level 2		Level 3		Total
Financial assets measured at fair value:
Available for sale – Player deposits – Investments	$	17	$	6	$	—	$	23
Equity securities – Investments	—		—		7		7
Derivative financial assets	—		43		—		43
Total	17		49		7		73
Financial liabilities measured at fair value:
Derivative financial liabilities	—		86		—		86
Fox Option Liability	—		—		560		560

Total	—		86		560		646
Redeemable non-controlling interests at fair value	$	—	$	—	$	309	$	309

Fair Value, Assets, Liabilities And Noncontrolling Interest, Unobservable Input Reconciliation

The movements in respect of the financial assets and liabilities carried at fair value are as follows:


($ in millions)	Equity securities		Fox option liability		Total		Redeemable non- controlling interest at fair value
Balance as of March 31, 2026	$	6	$	(260)	$	(254)	$	(304)
Total gains or losses for the period:
Included in earnings	—		40		40		—
Included in other comprehensive (loss) income	—		—		—		—
Attribution of net income and other comprehensive income:
Net loss attributable to redeemable non-controlling interest	—		—		—		29
Other comprehensive gain attributable to redeemable non-controlling interest	—		—		—		(2)
Acquisitions and settlements:
Acquisition of redeemable non-controlling interest	—		—		—		—
Settlements	—		—		—		—
Adjustment of redeemable non-controlling interest at redemption at fair value	—		—		—		8
Balance as of June 30, 2026	6		(220)		(214)		(269)
Change in unrealized gains or losses for the period included in earnings	—		40		40		—
Change in unrealized gains or losses for the period included in other comprehensive (loss) income	$	—	$	—	$	—	$	(2)


($ in millions)	Equity securities		Fox option liability		Total		Redeemable non- controlling interest at fair value
Balance as of December 31, 2025	$	7	$	(560)	$	(553)	$	(309)
Total gains or losses for the period:	—		—				—
Included in earnings	—		333		333		—
Included in other comprehensive income	(1)		7		6		—
Attribution of net loss and other comprehensive income:	—		—				—
Net loss attributable to redeemable non-controlling interest	—		—		—		43
Other comprehensive gain attributable to redeemable non-controlling interest	—		—		—		(21)
Acquisitions and settlements:	—		—				—
Acquisition of redeemable non-controlling interest
Settlements
Adjustment of redeemable non-controlling interest at redemption at fair value	—		—		—		18
Balance as of June 30, 2026	6		(220)		(214)		(269)
Change in unrealized gains or losses for the period included in earnings	—		333		333		—
Change in unrealized gains or losses for the period included in other comprehensive income (loss)	$	(1)	$	7	$	6	$	—


($ in millions)	Contingent consideration		Equity securities		Fox option liability		Total		Redeemable non- controlling interest at fair value
Balance as of March 31, 2025	$	—	$	6	$	(630)	$	(624)	$	(1,448)
Total gains or losses for the period:
Included in earnings	—		—		(81)		(81)		—
Included in other comprehensive income	—		1		(39)		(38)		—
Attribution of net loss and other comprehensive income:
Net loss attributable to redeemable non-controlling interest	—		—		—		—		(2)
Other comprehensive gain attributable to redeemable non-controlling interest	—		—		—		—		(10)
Acquisitions and settlements:
Acquisition of redeemable non-controlling interest	—		—		—		—		(256)
Settlements	—		—		—		—		—
Adjustment of redeemable non-controlling interest at redemption at fair value	—		—		—		—		(300)
Balance as of June 30, 2025	—		7		(750)		(743)		(2,016)
Change in unrealized gains or losses for the period included in earnings	—		—		(81)		(81)		—
Change in unrealized gains or losses for the period included in other comprehensive income (loss)	$	—	$	1	$	(39)	$	(38)	$	—


($ in millions)	Contingent consideration		Equity securities		Fox option liability		Total		Redeemable non- controlling interest at fair value
Balance as of December 31, 2024	$	(18)	$	6	$	(810)	$	(822)	$	(1,567)
Total gains or losses for the period:
Included in earnings	—		—		124		124		—
Included in other comprehensive income (loss)	2		1		(64)		(61)		—
Attribution of net income and other comprehensive income:
Net income attributable to redeemable non-controlling interest	—		—		—		—		(5)
Other comprehensive loss attributable to redeemable non-controlling interest	—		—		—		—		(10)
Acquisitions and settlements:
Acquisition of redeemable non-controlling interest	—		—		—		—		(256)
Settlements	16		—		—		16		—
Adjustment of redeemable non-controlling interest at redemption at fair value	—		—		—		—		(178)
Balance as of June 30, 2025	—		7		(750)		(743)		(2,016)
Change in unrealized gains or losses for the period included in earnings	—		—		124		124		—
Change in unrealized gains or losses for the period included in other comprehensive income (loss)	$	2	$	1	$	(64)	$	(61)	$	—