Company: CZR
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0001590895-25-000110
Chunk: 130

Company: Caesars Entertainment, Inc.
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 2
Chunk 130
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4)%Corporate82 78 4 5.1 %Depreciation and amortization357 327 30 9.2 %Transaction and other costs, net2 6 (4)(66.7)%Total operating expenses$2,306 $2,257 $49 2.2 %

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, wages and supplies associated with our hotel operations. Other expenses consist principally of salaries and wages, costs of goods sold associated with our retail operations, entertainment costs, including professional talent fees, reimbursable management costs (described below) and other operations. 

Casino expenses were relatively flat for the three months ended March 31, 2025, as compared to the same prior year period. Casino expenses rose in connection with increased revenues in our Caesars Digital segment, and were partially offset by decreased promotional costs in our Las Vegas segment associated with the Super Bowl held in Las Vegas in the first quarter of 2024. Food and beverage and hotel expenses have increased due to incremental wages associated with the opening of Caesars Virginia’s permanent facility and the completion of the rebranding Caesars New Orleans as well as higher union and non-union wages. We continue to focus on labor efficiencies across the enterprise to manage increased labor costs.

General and administrative expenses include items such as information technology, facility maintenance, utilities, property and liability insurance, expenses for administrative departments such as accounting, compliance, purchasing, human resources, legal, internal audit, property taxes and marketing expenses indirectly related to our gaming and non-gaming operations. 

Corporate expenses include unallocated expenses such as payroll, inclusive of the annual bonus, stock-based compensation, professional fees, cybersecurity costs and other various expenses not directly related to the Company’s operations.

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Depreciation and amortization expenses increased for the three months ended March 31, 2025 as compared to the same prior year period, primarily related to recently completed construction projects.

Transaction and other costs, net primarily includes non-cash losses on the write down and disposal of assets, professional services for transaction and integration costs, various contract exit or termination costs, pre-opening costs in connection with our new property openings and non-cash changes in equity method