Long-Term Debt (Tables)

3 Months Ended

Mar. 31, 2025

Debt Disclosure [Abstract]

Schedule of debt outstanding

The following table reflects our outstanding debt (in order of priority and maturity):

	As of
	March 31, 2025								December 31, 2024
	Final Maturity	Rate(s)	Face Value		Unamortized debt discount/premium and deferred financing costs, net		Book Value		Book Value
Senior Secured Credit Facilities:
LNWI Revolver	2030	variable	$	40	$	—	$	40	$	—
LNWI Term Loan B	2029	variable	2,151		(22)		2,129		2,133
LNWI Senior Notes:
2028 Unsecured Notes	2028	7.000%	700		(4)		696		695
2029 Unsecured Notes	2029	7.250%	500		(4)		496		496
2031 Unsecured Notes	2031	7.500%	550		(7)		543		543
Other	—	—	3		—		3		3
Total long-term debt outstanding			$	3,944	$	(37)	$	3,907	$	3,870
Less: current portion of long-term debt							(23)		(23)
Long-term debt, excluding current portion							$	3,884	$	3,847
Fair value of debt(1)			$	3,959
(1) Fair value of our fixed rate and variable interest rate debt is classified within Level 2 in the fair value hierarchy and has been calculated based on the quoted market prices of our securities.