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Long-Term Debt (Tables)
 6 Months Ended
Jun. 30, 2024
Debt Disclosure [Abstract]  
Summary of Long-Term Debt
Long-term debt consisted of the following (in thousands):
 
June 30, 2024December 31, 2023
Macau Related:
WM Cayman II Revolver, due 2025 (1)
$1,186,448 $1,497,610 
WML 4 7/8% Senior Notes, due 2024600,000 600,000 
WML 5 1/2% Senior Notes, due 20261,000,000 1,000,000 
WML 5 1/2% Senior Notes, due 2027750,000 750,000 
WML 5 5/8% Senior Notes, due 20281,350,000 1,350,000 
WML 5 1/8% Senior Notes, due 20291,000,000 1,000,000 
WML 4 1/2% Convertible Bonds, due 2029 (2)
600,000 600,000 
U.S. and Corporate Related:
WRF Credit Facilities (3):
WRF Term Loan, due 202471,794 73,683 
WRF Term Loan, due 2027711,956 730,692 
WLV 5 1/2% Senior Notes, due 2025583,310 1,380,001 
WLV 5 1/4% Senior Notes, due 2027880,000 880,000 
WRF 5 1/8% Senior Notes, due 2029750,000 750,000 
WRF 7 1/8% Senior Notes, due 20311,000,000 600,000 
Retail Term Loan, due 2025 (4)
615,000 615,000 
11,098,508 11,826,986 
WML Convertible Bond Conversion Option Derivative72,039 73,744 
Less: Unamortized debt issuance costs and original issue discounts and premium, net(139,835)(162,393)
11,030,712 11,738,337 
Less: Current portion of long-term debt(1,291,295)(709,593)
Total long-term debt, net of current portion$9,739,417 $11,028,744 
(1) As of June 30, 2024, the borrowings under the WM Cayman II Revolver bear interest at the term secured overnight financing rate ("Term SOFR") plus a credit adjustment spread of 0.10% or HIBOR, in each case plus a margin of 1.875% to 2.875% per annum based on WM Cayman II’s leverage ratio on a consolidated basis. Approximately $247.4 million and $939.1 million of the WM Cayman II Revolver bears interest at a rate of Term SOFR plus 1.975% per year and HIBOR plus 1.875% per year, respectively. As of June 30, 2024, the weighted average interest rate was approximately 6.66%. As of June 30, 2024, the available borrowing capacity under the WM Cayman II Revolver was $312.2 million. In July 2024, the Company repaid approximately $40.0 million of outstanding WM Cayman II Revolver borrowings.
(2) As of June 30, 2024, the net carrying amount of the WML Convertible Bonds was $488.8 million, with unamortized debt discount and debt issuance costs of $111.2 million. The Company recorded contractual interest expense of $6.8 million and $6.8 million and amortization of discounts and issuance costs of $4.7 million and $4.3 million during the three months ended June 30, 2024 and 2023, respectively, and contractual interest expense of $13.5 million and $8.6 million and amortization of discounts and issuance costs of $9.2 million and $5.4 million during the six months ended June 30, 2024 and 2023, respectively.
(3) The WRF Credit Facilities bear interest at a rate of Term SOFR plus 1.85% per year. As of June 30, 2024, the weighted average interest rate was approximately 7.19%. Additionally, as of June 30, 2024, the available borrowing capacity under the WRF Revolver was $735.3 million, net of $14.7 million in outstanding letters of credit.
(4) The Retail Term Loan bears interest at a rate of adjusted daily simple secured overnight financing rate ("SOFR") plus 1.80% per year. As of June 30, 2024, the interest rate was 5.47%.