Investments in Unconsolidated Entities (Tables)

12 Months Ended

Dec. 31, 2023

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Investment in Unconsolidated Entities

The following is a summary of our investments in unconsolidated entities as of December 31, 2023 and 2022 (in thousands):

	Ownership %	Number of Properties	Carrying Amount(1) of Investment as of
Investment	As of December 31, 2023		12/31/2023		12/31/2022
Bellagio Las Vegas Joint Venture - Common Equity Interest	21.9%	1	$	296,097	$	—
Bellagio Las Vegas Joint Venture - Preferred Equity Interest	n/a	n/a	650,000		—
Data Center Development Joint Venture	80.0%	2	226,021		—
Industrial Partnerships	20.0%	—	—		—
Total investment in unconsolidated entities			$	1,172,118	$	—

(1) The total carrying amount of the investments was greater than the underlying equity in net assets (i.e., basis difference) by $2.2 million as of December 31, 2023.

Equity in income and impairment of investment in unconsolidated entities consists of the following (in thousands):

	Years ended December 31,
Investment	2023		2022		2021
Bellagio Las Vegas Joint Venture - Common Equity Interest	$	2,139	$	—	$	—
Data Center Development Joint Venture	—		—		—
Industrial Partnerships	407		(6,448)		1,106
Equity in income and impairment of investment in unconsolidated entities	$	2,546	$	(6,448)	$	1,106