CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (124)	$ (163)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	702	721
Amortization of deferred financing costs and discounts	88	89
Provision for credit losses	24	23
Non-cash lease amortization	14	12
(Gain) loss on investments	(4)	1
Stock-based compensation expense	47	50
(Gain) loss on sale or disposal of property and equipment	(8)	3
Deferred income taxes	0	24
Other non-cash adjustments to net loss	7	1
Change in operating assets and liabilities:
Accounts receivable	(24)	(37)
Prepaid expenses and other assets	(88)	(47)
Income taxes receivable and payable, net	(11)	(58)
Accounts payable, accrued expenses and other liabilities	52	61
Net cash provided by operating activities	675	680
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(335)	(453)
Cash paid for asset acquisitions	(98)	0
Proceeds from sale of property and equipment	20	3
Proceeds from sale of investments	2	1
Investments in unconsolidated affiliate	(2)	(3)
Distributions from unconsolidated affiliate	0	23
Other	2	(5)
Net cash used in investing activities	(411)	(434)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from long-term debt and revolving credit facilities	885	590
Repayments of long-term debt and revolving credit facilities	(983)	(612)
Repurchase of common stock	0	(100)
Financing obligation payments	(19)	(8)
Distributions to noncontrolling interest owners	(41)	(30)
Taxes paid related to net share settlement of equity awards	(13)	(16)
Net cash used in financing activities	(171)	(176)
Increase in cash, cash equivalents and restricted cash	93	70
Cash, cash equivalents and restricted cash, beginning of period	984	1,016
Cash, cash equivalents and restricted cash, end of period	1,077	1,086
RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH TO AMOUNTS REPORTED WITHIN THE CONSOLIDATED CONDENSED BALANCE SHEETS:
Cash and cash equivalents	965	982
Restricted cash	96	85
Restricted and escrow cash included in other long-term assets, net	16	19
Total cash, cash equivalents and restricted cash	1,077	1,086
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash interest paid for debt	368	405
Cash interest paid for rent related to GLPI and VICI Leases	686	672
Cash interest paid for other financing obligations	5	0
Income taxes paid, net	11	58
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Payables for capital expenditures	103	126
Deferred consideration amount	10	0
Right-of-use asset obtained in exchange for lease liability	$ 203	$ 0