Company: CZR
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001590895-25-000126
Chunk: 48

Company: Caesars Entertainment, Inc.
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 1
Chunk 48
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 EBITDA should not be construed as an inference that future results will be unaffected by unusual or unexpected items.Adjusted EBITDA is a financial measure commonly used in our industry and should not be construed as an alternative to net income (loss) as an indicator of operating performance or as an alternative to cash 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 Contents25

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

Three Months Ended June 30,Six Months Ended June 30,(In millions)2025202420252024Net loss attributable to Caesars$(82)$(122)$(197)$(280)Net income attributable to noncontrolling interests17 20 34 36 Provision for income taxes13 10 24 25 Other (income) loss (a)(1)1 — (25)Loss on extinguishment of debt— 3 — 51 Interest expense, net579 594 1,153 1,184 Depreciation and amortization364 326 721 653 Impairment charges (b)— 118 — 118 Transaction costs and other, net (c)41 26 54 42 Stock-based compensation expense24 24 50 49 Adjusted EBITDA$955 $1,000 $1,839 $1,853 Adjusted EBITDA by Segment:Las Vegas$469 $514 $902 $954 Regional439 469 879 902 Caesars Digital80 40 123 45 Managed and Branded17 17 33 35 Corporate and Other(50)(40)(98)(83)____________________(a)Other (income) loss for the six months ended June 30, 2024 primarily represents a change in the estimate of our disputed claims liability. (b)Impairment charges for the three and six months ended June 30, 2024 includes impairment within our Regional segment as a result of