FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2024

Schedule Of The Group's Financial Assets, Financial Liabilities And Redeemable Non-controlling Interests

The following tables set forth the fair value of the Group’s financial assets, financial liabilities and redeemable non-controlling interests measured at fair-value-based on the three-tier fair value hierarchy as defined in summary of significant accounting policies:


	As of December 31, 2024
($ in millions)	Level 1		Level 2		Level 3		Total
Financial assets measured at fair value:
Available for sale – Player deposits – investments	$	128	$	2	$	—	$	130
Equity securities	—		—		6		6
Derivative financial assets	—		133				133
Total	128		135		6		269
Financial liabilities measured at fair value:
Derivative financial liabilities	—		15		—		15
Fox Option Liability	—		—		810		810
Contingent consideration	—		—		18		18
Total	—		15		828		843
Redeemable non-controlling interests at fair value	$	—	$	—	$	1,567	$	1,567


	As of December 31, 2023
($ in millions)	Level 1		Level 2		Level 3		Total
Financial assets measured at fair value:
Available for sale – Player deposits – investments	$	33	$	139	$	—	$	172
Equity securities	—		—		9		9

Total	33		139		9		181
Financial liabilities measured at fair value:
Derivative financial liabilities	—		178		—		178
Fox Option Liability	—		—		400		400
Contingent consideration	—		—		20		20
Total	—		178		420		598
Redeemable non-controlling interests at fair value	$	—	$	—	$	1,100	$	1,100
Pokerstars trademark held and used1	$	—	$	—	$	368	$	368
Total nonrecurring fair value measurement	—		—		$	368	$	368

_______________

1In accordance with subtopic 360-10, Pokerstars trademark held and used with a carrying amount of $1,093 million was written down to its fair value of $368 million, resulting in an impairment of $725 million, which was included in sales and marketing expenses. See “Note 11. Intangible Assets, Net” for a description of the valuation technique(s) and the inputs used in the fair value measurement.

Fair Value, Assets, Liabilities And Noncontrolling Interest, Unobservable Input Reconciliation

The movements in respect of the financial assets and liabilities and redeemable non-controlling interests carried at fair value are as follows:


($ in millions)	Contingent consideration		Equity securities		Fox Option Liability		Total		Redeemable non- controlling interest at fair value
Balance at December 31, 2023	$	(20)	$	9	$	(400)	$	(411)	$	(1,100)
Total gains or losses for the period:
Included in earnings	3		(2)		(426)		(425)		—
Included in other comprehensive (loss)	(1)		(1)		16		14		—
Attribution of net loss and other comprehensive (loss):
Net gain attributable to redeemable non-controlling interest	—		—		—		—		(25)
Other comprehensive (loss) attributable to redeemable non-controlling interest	—		—		—		—		13
Acquisitions and settlements:
Settlements	—		—		—		—		—
Adjustment of redeemable non-controlling interest at redemption at fair value	—		—		—		—		(455)
Balance at December 31, 2024	$	(18)	$	6	$	(810)	$	(822)	$	(1,567)
Change in unrealized gains or losses for the period included in earnings	$	3	$	(2)	$	(426)	$	(425)	$	—
Change in unrealized gains or losses for the period included in other comprehensive (loss)	$	(1)	$	(1)	$	16	$	14	$	—


($ in millions)	Contingent consideration		Equity securities		Fox Option Liability		Total		Redeemable non- controlling interest at fair value
Balance at December 31, 2022	$	(22)	$	11	$	(220)	$	(231)	$	(781)
Total gains or losses for the period:
Included in earnings	2		(2)		(165)		(165)		—
Included in other comprehensive income	—		—		(15)		(15)		—
Attribution of net loss and other comprehensive income:
Net gain attributable to redeemable non-controlling interest	—		—		—		—		(11)
Other comprehensive income attributable to redeemable non-controlling interest	—		—		—		—		(50)


Adjustment of redeemable non-controlling interest at redemption at fair value	—		—		—		—		(258)
Balance at December 31, 2023	$	(20)	$	9	$	(400)	$	(411)	$	(1,100)
Change in unrealized gains or losses for the period included in earnings	$	2	$	(2)	$	(165)	$	(165)	$	—
Change in unrealized gains or losses for the period included in other comprehensive income	$	—	$	—	$	(15)	$	(15)	$	—


($ in millions)	Contingent consideration		Equity securities		Fox Option Liability		Total		Redeemable non- controlling interest at fair value
Balance at December 31, 2021	$	(51)	$	7	$	(330)	$	(374)	$	(982)
Total gains or losses for the period:
Included in earnings	6		6		83		95		—
Included in other comprehensive (loss)	2		—		27		29		—
Attribution of net loss and other comprehensive income:
Net loss attributable to redeemable non-controlling interest	—		—		—		—		19
Other comprehensive income attributable to redeemable non-controlling interest	—		—		—		—		89
Acquisitions and settlements:
Acquisitions Settlements	21		(2)		—		19		—

Adjustment of redeemable non-controlling interest at redemption at fair value	—		—		—		—		93
Balance at December 31, 2022	$	(22)	$	11	$	(220)	$	(231)	$	(781)
Change in unrealized gains or losses for the period included in earnings	$	6	$	6	$	83	$	95	$	—
Change in unrealized gains or losses for the period included in other comprehensive income	$	2	$	—	$	27	$	29	$	—