INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

For the years ended December 31, 2025, 2024 and 2023, income taxes expense consisted of:

	For the Years Ended December 31,
	2025		2024		2023
Current:
Federal	$	117,832	$	130,257	$	137,375
State	11,302		20,201		22,029
Foreign	—		—		—
Total Current:	129,134		150,458		159,404
Deferred:
Federal	$	(25,614)	$	(77,171)	$	(14,366)
State	(11,842)		(31,343)		108
Foreign	—		—		—
Total Deferred	(37,456)		(108,514)		(14,258)
Total	$	91,678	$	41,944	$	145,146

Schedule of Effective Income Tax Rate Reconciliation

The Company has elected to prospectively adopt the guidance in ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Taxes Disclosures (“ASU 2023-09”). In accordance with the guidance in ASU 2023-09, the difference between the income tax expense for the year ended December 31, 2025, and the expected income taxes based on the statutory rate applied to earnings (loss) arises as follows:

	For the Year Ended December 31,
	2025
Income/(Loss) before Income Taxes	$	(166,230)
Expense/(Recovery) based on Statutory Rate(1)	(34,908)		21.0	%
State and Local Income Taxes	3,723		(2.2)	%
State Prior Year True Up	(6,625)		4.0	%
State Rate Change on Deferreds	(1,392)		0.8	%
Changes in Valuation Allowances	(695)		0.4	%
Nontaxable or Nondeductible Items
Uncertain Tax Positions, including penalties and interest	113,291		(68.1)	%
Permanent Impacts of Impairments	15,552		(9.4)	%
Penalties and Interest	134		(0.1)	%
Income from Investments	451		(0.3)	%
Other Permanent Differences	2,434		(1.5)	%
Federal Prior Year True Up	(287)		0.2	%
Income Tax Expense	$	91,678	(55.2)	%

(1) For the year ended December 31, 2025, state taxes in Florida make up the majority (greater than 50%) of the tax effect of this category.

11. INCOME TAXES (Continued)

The difference between the income tax expense for the years ended December 31, 2024 and December 31, 2023, and the expected income taxes based on the statutory rate applied to earnings (loss) as presented prior to prospective adoption of ASU No. 2023-09 arises as follows:

	For the Years Ended December 31,
	2024			2023
Income/(Loss) before Income Taxes	$	(299,915)		$	27,798
Statutory Tax Rate	21		%	21		%
Expense/(Recovery) based on Statutory Rate	(62,982)			5,838
Other Permanent Differences	265			225
Impairment	2,677			9,345
Uncertain Tax Position, including penalties and interest	108,104			—
Nondeductible 280E	—			79,731
Penalties and Interest	9,233			29,581
Non-controlling Interests	1,997			1,326
State Taxes	(10,871)			15,248
Prior Year True Ups	(6,209)			5,646
State Rate Change on Deferred Taxes	(270)			(1,066)
Acquisition Purchase Price Remeasurement	—			(728)
Income Tax Expense	$	41,944		$	145,146

Schedule of Income Tax Paid

During the year ended December 31, 2025, the Company’s income taxes paid, net of refunds, were as follows:

	For the Year Ended December 31, 2025
U.S. Federal	$	75,308
U.S. State
Florida(1)	6,605
Illinois(1)	(4,139)
Pennsylvania(1)	(4,562)
Other	4,976
Total U.S. State	2,880
Total Income Taxes Paid, net of Refunds	$	78,188

(1)Income taxes paid, net of refunds exceeds 5% of total income taxes paid, net of refunds, in this jurisdiction.

Schedule of Deferred Tax Assets and Liabilities

At December 31, 2025 and December 31, 2024, the components of deferred tax assets and (liabilities) were as follows:

	As of December 31,
	2025		2024
Deferred Tax Assets
Operating Lease Liabilities	$	5,067	$	6,775
Loyalty Points	2,070		2,143
Stock Compensation	507		295
Basis Differences in Goodwill	7,079		4,068
Basis Differences in Property, Plant and Equipment	202		6,860
Other Accruals	2,798		4,714
Interest and Net Operating Loss Carryforwards	4,093		3,098
Total Deferred Tax Assets	21,816		27,953
Valuation Allowances	—		(695)
Net Deferred Tax Assets	$	21,816	$	27,258
Deferred Tax Liabilities
Operating Right of Use Assets	$	(4,560)	$	(6,267)
Intangibles	(53,899)		(95,090)
Total Deferred Tax Liabilities	(58,459)		(101,357)
Net Deferred Tax Liabilities	$	(36,643)	$	(74,099)

Schedule of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of gross unrecognized tax benefits for uncertain tax positions is as follows:

	2025		2024
Balance at Beginning of Year	$	400,994	$	2,973
Increases related to tax positions in a prior period	10,884		317,052
Decreases related to tax positions in a prior period	(29,194)		—
Decreases due to lapse of statute of limitations	(1,673)		(1,300)
Increases related to tax positions in the current period	92,653		82,269
Decreases related to tax positions in the current period	—		—
Balance at End of Year	$	473,664	$	400,994

Schedule Of Uncertain Tax Liabilities

A reconciliation of the beginning and ending amount of uncertain tax liabilities is as follows:

	2025		2024
Balance at Beginning of Year	$	270,579	$	2,973
Increases related to tax positions in a prior period	22,759		159,692
Decreases related to tax positions in a prior period	(39,253)		(1,300)
Increases related to tax positions in the current period	86,962		77,260
Interest and penalties recorded in income tax expense(1)	37,214		31,954
Decreases related to tax positions in the current period	—		—
Balance at End of Year	$	378,261	$	270,579

(1)Amount represents the penalties and interest recorded on uncertain tax positions during the respective years which are recorded to the provision for income taxes on the Consolidated Statements of Operations.