v3.26.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash Flows from Operating Activities    
Net income (loss) $ 357,806 $ 1,700,072
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 277,357 211,957
Amortization of debt financing costs and discounts on debt 5,291 5,496
Non-cash operating lease expense 76,762 68,853
Share-based compensation expense 29,158 29,531
Deferred income taxes 29,388 9,774
Non-cash interest income (2,629) (2,146)
Non-cash impairment of assets 0 97,395
Gain on sale of investment 0 (1,748,000)
Gain on sale of assets, net (20,913) 0
Loss on early extinguishments and modifications of debt 391 1,446
Other operating activities 21,384 (2,300)
Changes in operating assets and liabilities, excluding the impact of acquisitions:    
Accounts receivable, net 3,434 50,116
Inventories 605 307
Prepaid expenses and other current assets (13,076) (10,363)
Income taxes payable, net 40,518 377,091
Other assets, net (316) 1,401
Accounts payable and accrued liabilities (411,577) (18,596)
Operating lease liabilities (76,762) (68,853)
Other liabilities (3,415) (1,787)
Net cash provided by operating activities 313,406 701,394
Cash Flows from Investing Activities    
Capital expenditures (456,019) (439,889)
Advances made under note receivable 0 (31,780)
Proceeds from sale of investment 0 1,758,000
Proceeds from sale of assets, net of cash transferred 56,758 0
Cash paid for acquisitions, net of cash received (46,844) 0
Cash paid for gaming license right 0 (41,761)
Other investing activities (1,594) (9,270)
Net cash (used in) provided by investing activities (447,699) 1,235,300
Cash Flows from Financing Activities    
Borrowings under credit facilities 1,795,425 1,577,300
Payments under credit facilities (1,169,500) (2,868,300)
Debt financing costs (2,070) 0
Share-based compensation activities (25,769) (6,025)
Shares repurchased and retired (474,999) (593,004)
Dividends paid (43,399) (43,944)
Other financing activities 0 (6)
Net cash provided by (used in) financing activities 79,688 (1,933,979)
Effect of foreign currency exchange rates on cash, cash equivalents and restricted cash (98) (113)
Change in cash, cash equivalents and restricted cash (54,703) 2,602
Cash, cash equivalents and restricted cash, beginning of period 358,767 321,364
Cash, cash equivalents and restricted cash, end of period 304,064 323,966
Supplemental Disclosure of Cash Flow Information    
Cash paid for interest, net of amounts capitalized 87,081 126,338
Cash paid for income taxes 52,121 101,592
Supplemental Schedule of Non-cash Investing and Financing Activities    
Payables incurred for capital expenditures 69,129 45,149
Dividends declared not yet paid 14,232 14,228
Assets acquired in exchange for contingent consideration 5,000 38,239
Derecognition of right-of-use operating lease asset 0 36,883
Derecognition of lease liability $ 0 $ (36,883)