v3.24.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash Flows from Operating Activities:    
Net loss attributable to common shareholders $ (372,434) $ (757,521)
Adjustments to reconcile net loss to net cash flows used in operating activities:    
Depreciation and amortization 204,755 146,722
Non-cash interest (income) expense, net 27 (554)
Stock-based compensation 271,307 284,946
Loss on remeasurement of warrant liabilities 8,282 44,827
(Gain) loss from equity method investment 19 450
Loss on marketable equity securities and other financial assets, net 0 75
Loss on sale of Vegas Sports Information Network, LLC 5,817 0
Deferred income taxes (80,604) 4,527
Other income (expenses), net 4,632 (1,944)
Change in operating assets and liabilities, net of effect of acquisitions:    
Receivables reserved for users (30,955) (49,402)
Accounts receivable (13,792) 24,174
Prepaid expenses and other current assets (20,704) (20,757)
Deposits and other non-current assets 446 (3,983)
Operating leases, net 145 1,907
Accounts payable and accrued expenses 44,635 79,047
Liabilities to users 61,839 170,161
Long-term income tax liability 1,025 (1,605)
Other long-term liabilities 8,138 5,112
Net cash flows provided by (used in) operating activities 92,578 (73,818)
Cash Flows from Investing Activities:    
Purchases of property and equipment (8,148) (19,885)
Cash paid for internally developed software costs (71,059) (60,006)
Acquisition of gaming licenses (14,820) (10,971)
Proceeds from marketable equity securities and other financial assets 0 24,425
Cash paid for acquisition, net of cash acquired (392,501) 0
Other investing activities, net (1,656) (481)
Net cash flows used in investing activities (488,184) (66,918)
Cash Flow from Financing Activities:    
Proceeds from exercise of warrants 0 0
Purchase of treasury stock (78,170) (59,351)
Proceeds from exercise of stock options 6,798 8,842
Net cash flows used in financing activities (71,372) (50,509)
Net decrease in cash and cash equivalents, restricted cash, and cash reserved for users (466,978) (191,245)
Cash and cash equivalents, restricted cash, and cash reserved for users at the beginning of period 1,623,493 1,778,825
Cash and cash equivalents, restricted cash, and cash reserved for users at the end of period 1,156,515 1,587,580
Disclosure of cash and cash equivalents, restricted cash, and cash reserved for users    
Cash and cash equivalents 877,822 1,111,596
Restricted cash 13,807 0
Cash reserved for users 264,886 475,984
Cash and cash equivalents, restricted cash, and cash reserved for users at the end of period 1,156,515 1,587,580
Supplemental Disclosure of Noncash Investing and Financing Activities:    
Investing activities included in accounts payable and accrued expenses 1,788 (408)
Shares issued in connection with business combinations 331,557 0
Decrease of warrant liabilities from cashless exercise of warrants 46,416 1,812
Supplemental Disclosure of Cash Activities:    
(Decrease) increase in cash reserved for users $ (76,404) $ 6,331