Company: CZR
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0001590895-25-000130
Chunk: 85

Company: Caesars Entertainment, Inc.
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 8
Chunk 85
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 Additionally, the Company utilizes its hotels, restaurants, bars, entertainment, racing, retail shops and other services to attract customers to its properties.The Company’s operations for retail and online sports betting, iGaming, horse racing and online poker are included under the Caesars Digital segment. The Company operates retail and online sports wagering in 33 jurisdictions in North America, 26 of which offer online sports betting, and operates iGaming in five jurisdictions in North America as of September 30, 2025. The Company operates the Caesars Sportsbook app, the Caesars Racebook app, the Caesars Palace Online Casino app and the Horseshoe Online Casino app which initially launched in October 2024. The Company also expects to continue to grow its operations in the Caesars Digital segment as new jurisdictions legalize retail and online sports betting and iGaming. DivestitureThe Company periodically divests assets that it may not consider core to its business to raise capital or, in some cases, to comply with conditions, terms, obligations or restrictions imposed by antitrust, gaming and other regulatory entities.On December 12, 2024, the Company closed the sale of the LINQ Promenade to a joint venture between TPG Real Estate and the Investment Management Platform of Acadia Realty Trust for $275 million. The LINQ Promenade was reported within the Las Vegas segment. For the three and nine months ended September 30, 2024, the operations of the LINQ Promenade resulted in $7 million and $19 million of net revenues, respectively, and $5 million and $13 million of net income, respectively.On October 29, 2024, the Company closed the sale of the World Series of Poker (“WSOP”) trademark to NSUS Group Inc. for total consideration of $500 million, which included a $250 million note receivable. In July 2025, the Company applied the proceeds received from the partial repayment and sale of $225 million of notes receivable to the redemption of outstanding debt. See Note 6.

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CAESARS ENTERTAINMENT, INC.NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS (CONTINUED)(UNAUDITED)

Note 2. Basis of Presentation and Significant Accounting Policies

Basis of PresentationThe accompanying unaudited Financial Statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP