Company: CZR
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001590895-25-000068
Chunk: 61

Company: Caesars Entertainment, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 8
Chunk 61
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 hedge the risk of fluctuations in interest rates, foreign exchange rates or pricing for other commodities. These agreements are designated as cash flow hedges. As of December 31, 2024 and 2023, the Company did not hold any cash flow hedges or any derivative financial instruments for trading purposes.Concentration of Credit RiskFinancial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and restricted cash. The Company has bank deposits that may at times exceed federally insured limits. Management believes all financial institutions holding its cash are of high credit quality and does not believe the Company is subject to unusual credit risk beyond the normal credit risk associated with commercial banking relationships.

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

AdvertisingAdvertising costs are expensed in the period the advertising initially takes place. Advertising costs were $231 million, $259 million and $571 million for the years ended December 31, 2024, 2023 and 2022, respectively, and are included within operating expenses. During the year ended December 31, 2022, the Company launched significant television, radio and internet marketing campaigns promoting the Caesars Sportsbook. Advertising costs related to the Caesars Digital segment are primarily recorded in Casino expense.Interest Expense, NetYears Ended December 31,(In millions)202420232022Interest expense$2,438 $2,394 $2,303 Capitalized interest(61)(40)(26)Interest income(11)(12)(12)Total interest expense, net$2,366 $2,342 $2,265 Recently Issued Accounting PronouncementsPronouncements Implemented in 2024In November 2023, the FASB issued ASU 2023-07, “Segment Reporting: Improvements to Reportable Segment Disclosures,” which requires public entities to disclose information about their reportable segments’ significant expenses on an interim and annual basis. This guidance is effective for years beginning after December 15, 2023, and interim periods within years beginning after December 15, 2024. Amendments in this update should be applied retrospectively to all prior periods presented in the financial statements. As of December 31, 2024, the Company has implemented the updated amendments included in ASU 2023-07. See Note 16 for additional reportable segment disclosures.Pronouncements to Be Implemented in Future Period