Company: CZR
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0001590895-25-000130
Chunk: 53

Company: Caesars Entertainment, Inc.
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 1
Chunk 53
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 at certain properties primarily due to localized competition.(c)Transaction costs and other, net primarily includes costs related to non-cash losses on the write down and disposal of assets, certain non-recurring litigation reserves, non-recurring asset recoveries, professional services for transaction and integration costs, various contract exit or termination costs, pre-opening costs in connection with new property openings and non-cash changes in equity method investments. Capital Expenditures, net - By SegmentThree Months Ended September 30,Nine Months Ended September 30,(In millions)2025202420252024Las Vegas$47 $85 $140 $196 Regional117 288 416 698 Caesars Digital21 30 64 79 Corporate and Other10 21 28 44 Total$195 $424 $648 $1,017 Total Assets - By Segment(In millions)September 30, 2025December 31, 2024Las Vegas$25,597 $25,040 Regional14,649 15,664 Caesars Digital1,249 1,262 Managed and Branded 327 282 Corporate and Other (a)(9,922)(9,658)Total$31,900 $32,590 ____________________(a)Includes eliminations of transactions among segments, to reconcile to the Company’s consolidated results.

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Item 2.  Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion and analysis of the financial condition and operating results of Caesars Entertainment, Inc., a Delaware corporation, and its consolidated subsidiaries, which may be referred to as the “Company,” “CEI,” “Caesars,” “we,” “our,” or “us,” for the three and nine months ended September 30, 2025 and 2024 should be read in conjunction with the unaudited consolidated condensed financial statements and the notes thereto and other financial information included elsewhere in this Form 10-Q as well as our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 (the “2024 Annual Report”). Capitalized terms used but not defined in this Form 10-Q have the same meanings as in the 2024 Annual Report.

We refer to (i) our Consolidated Condensed Financial Statements as our “Financial Statements,” (ii) our Consolidated Condensed Balance Sheets as our “Balance Sheets,” (iii)