v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
 6 Months Ended
Jun. 30, 2026
USD ($)
Jun. 30, 2025
USD ($)
Cash flows from operating activities:    
Net income $ 159,312 $ 194,203
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 114,840 96,319
Write-downs and other, net 2,394 181
Amortization of debt discount and debt issuance costs 3,652 3,519
Share-based compensation 17,527 16,347
Change in fair value of derivative instruments (4,053) 7,499
Gain on Native American Development 0 (8,476)
Deferred income tax 8,480 (21)
Changes in assets and liabilities:    
Receivables, net 7,172 (3,806)
Inventories and prepaid expenses (7,440) (7,365)
Accounts payable (1,663) (2,225)
Accrued interest payable (245) (3,591)
Income tax receivable/ payable 9,686 8,358
Other accrued liabilities (13,206) (4,558)
Other, net 1,314 (11,717)
Net cash provided by operating activities 297,770 284,667
Cash flows from investing activities:    
Capital expenditures, net of related payables (257,007) (146,406)
Payments to Acquire Land 0 1,639
Proceeds from repayment of Native American development costs 0 110,500
Native American development costs 0 (34,518)
Other, net (1,757) (398)
Net cash used in investing activities (258,764) (72,461)
Cash flows from financing activities:    
Borrowings under credit agreements with original maturity dates greater than three months 315,000 270,000
Payments under credit agreements with original maturity dates greater than three months (132,850) (277,850)
Distributions to noncontrolling interests (82,284) (94,930)
Payments for Repurchase of Common Stock (38,341) (30,855)
Withholding tax on share-based compensation (7,255) (5,220)
Dividends paid (90,641) (90,496)
Finance Lease, Principal Payments (6,687) 0
Tax Receivable Agreement Liability Amount Paid (1,195) (1,355)
Other, net (773) (682)
Net cash used in financing activities (45,026) (231,388)
Decrease in cash and cash equivalents (6,020) (19,182)
Balance, beginning of period 142,471 164,383
Balance, end of period 136,451 145,201
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation [Abstract]    
Cash and cash equivalents 136,451  
Balance, end of period 136,451 145,201
Supplemental cash flow disclosures:    
Cash paid for interest, net of $2,669 and $827 capitalized, respectively 95,797 101,902
Capitalized interest 2,669 827
Income Tax Paid, after Refund Received 8,342 20,300
Non-cash investing and financing activities:    
Capital expenditures incurred but not yet paid 153,023 47,256
Gain on Native American development Cash Flow Impact $ 0 $ (8,476)