Company: CZR
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001590895-25-000126
Chunk: 56

Company: Caesars Entertainment, Inc.
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 1
Chunk 56
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 2025, as compared to the same prior year periods, due to a significant increase in iGaming handle coupled with improved iGaming hold and higher hold in sports betting in our Caesars Digital segment. Net revenues in the Las Vegas segment were down slightly primarily due to lower non-gaming revenue, consistent with visitation trends city-wide, as compared to the three and six months ended June 30, 2024. Net revenues in the Regional segment increased primarily due to increased visitation driven by the opening of expanded amenities at our recently completed development projects of Caesars Virginia and Caesars New Orleans.

Operating Expenses

Operating expenses were as follows:

Three Months Ended June 30,Percent ChangeSix Months Ended June 30,Percent Change(Dollars in millions)20252024Variance20252024VarianceCasino$887 $817 $70 8.6 %$1,748 $1,669 $79 4.7 %Food and beverage275 266 9 3.4 %550 529 21 4.0 %Hotel155 139 16 11.5 %306 276 30 10.9 %Other105 100 5 5.0 %200 194 6 3.1 %General and administrative477 465 12 2.6 %960 965 (5)(0.5)%Corporate84 80 4 5.0 %166 158 8 5.1 %Impairment charges— 118 (118)(100.0)%— 118 (118)(100.0)%Depreciation and amortization364 326 38 11.7 %721 653 68 10.4 %Transaction and other costs, net34 13 21 161.5 %36 19 17 89.5 %Total operating expenses$2,381 $2,324 $57 2.5 %$4,687 $4,581 $106 2.3 %

Casino expenses consist principally of salaries and wages associated with our gaming operations, gaming taxes and marketing and advertising costs attributable to our Caesars Digital segment. Food and beverage expenses consist principally of salaries and wages and costs of goods sold associated with our food and beverage operations. Hotel expenses consist principally of salaries and wages and supplies associated with our hotel operations