Company: CZR
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0001590895-25-000110
Chunk: 108

Company: Caesars Entertainment, Inc.
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 8
Chunk 108
---
4 ptsNet income attributable to Caesars$177 $198 $(21)(10.6)%

Our Las Vegas segment’s net revenues, net income and Adjusted EBITDA decreased slightly for the three months ended March 31, 2025, as compared to the same prior year period, primarily due to lower hotel occupancy and room rates as a result of Las Vegas hosting the Super Bowl in the first quarter of 2024. While table games volume was also negatively impacted by the timing of this significant event, casino revenues benefited from improved table games hold, despite remaining below the midpoint of our typical range for the three months ended March 31, 2025. In addition, other revenue declined as compared to the same prior year period primarily due to the variance in comparable revenues driven by the sale of the LINQ Promenade during the fourth quarter of 2024. Adjusted EBITDA margin improved over the same prior year period due to our continued focus on efficiencies to effectively manage operating expenses.

Slot win percentage in the Las Vegas segment for the three months ended March 31, 2025 was within our typical range.

Regional Segment

Three Months Ended March 31,Percent Change(Dollars in millions)20252024VarianceNet revenues:Casino$1,030 $1,031 $(1)(0.1)%Food and beverage149 135 14 10.4 %Hotel139 131 8 6.1 %Other70 68 2 2.9 %Net revenues$1,388 $1,365 $23 1.7 %Table games drop$1,093 $1,015 $78 7.7 %Table games hold %20.7 %21.3 %(0.6) ptsSlot handle$10,444 $10,216 $228 2.2 %Adjusted EBITDA$440 $433 $7 1.6 %Adjusted EBITDA margin31.7 %31.7 %(0) ptsNet income attributable to Caesars$20 $41 $(21)(51.2)%

Table of Contents31

Our Regional segment’s net revenues and Adjusted EBITDA improved for the three months ended March 31, 2025, as compared to the same prior year period, primarily due to the positive results driven by our recently completed Caesars Virginia and Caesars New Orleans