Company: CZR
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0001590895-25-000130
Chunk: 114

Company: Caesars Entertainment, Inc.
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 8
Chunk 114
---
 flows provided by operating activities as a measure of liquidity (as determined in accordance with GAAP). Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies within the industry. Adjusted EBITDA is included because management uses Adjusted EBITDA to measure performance and allocate resources, and believes that Adjusted EBITDA provides investors with additional information consistent with that used by management.

Table of Contents26

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

Three Months Ended September 30,Nine Months Ended September 30,(In millions)2025202420252024Net loss attributable to Caesars$(55)$(9)$(252)$(289)Net income attributable to noncontrolling interests16 18 50 54 (Benefit) provision for income taxes(25)43 (1)68 Other income (a)(3)(4)(3)(29)Loss on extinguishment of debt4 — 4 51 Interest expense, net576 596 1,729 1,780 Depreciation and amortization352 326 1,073 979 Impairment charges (b)— — — 118 Transaction costs and other, net (c)(3)7 51 49 Stock-based compensation expense22 24 72 73 Adjusted EBITDA$884 $1,001 $2,723 $2,854 Adjusted EBITDA by Segment:Las Vegas$379 $472 $1,281 $1,426 Regional506 498 1,385 1,400 Caesars Digital28 52 151 97 Managed and Branded18 19 51 54 Corporate and Other(47)(40)(145)(123)____________________(a)Other income for the nine months ended September 30, 2024 primarily represents a change in the estimate of our disputed claims liability. (b)Impairment charges for the nine months ended September 30, 2024 includes impairment within our Regional segment as a result of a decrease in projected cash flows 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