Company: CZR
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001590895-25-000126
Chunk: 102

Company: Caesars Entertainment, Inc.
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 8
Chunk 102
---
 miscellaneous items. As the timing and pattern of transfer of both the lease and nonlease components are over the course of the lease term, we have elected to combine the revenue generated from lease and nonlease components into a single lease component based on the predominant component in the arrangement. During the three months ended June 30, 2025 and 2024, we recognized lease revenue of approximately $509 million and $514 million, respectively, and during the six months ended June 30, 2025 and 2024, we recognized approximately $991 million and $1.0 billion, respectively, which is included in Hotel revenues in the Statements of Operations.ConventionsConvention arrangements are considered short-term and generally consist of lease and nonlease components. The lease component is the predominant component of the arrangement and consists of fees charged for the use of meeting space. The nonlease components primarily consist of food and beverage and audio/visual services. Revenue from conventions is included in Food and beverage revenue in the Statements of Operations and during the three months ended June 30, 2025 and 2024, lease revenue related to conventions was approximately $14 million and $12 million, respectively, and during the six months ended June 30, 2025 and 2024, lease revenue related to conventions was approximately $29 million and $25 million, respectively.Real Estate Operating LeasesReal estate lease revenue is included in Other revenue in the Statements of Operations. During the three months ended June 30, 2025 and 2024, we recognized approximately $32 million and $37 million, respectively, and during the six months ended June 30, 2025 and 2024, we recognized approximately $61 million and $72 million, respectively, of real estate lease revenue.Real estate lease revenue includes $15 million of variable rental income for both the three months ended June 30, 2025 and 2024, and $29 million and $28 million for the six months ended June 30, 2025 and 2024, respectively.

Note 8. Earnings per Share

The following table illustrates the reconciliation of the numerators and denominators of the basic and diluted net income (loss) per share computations for the three and six months ended June 30, 2025 and 2024:Three Months Ended June 30,Six Months Ended June 30,(In millions, except per share data)202520242025202