Company: CZR
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0001590895-25-000110
Chunk: 76

Company: Caesars Entertainment, Inc.
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 8
Chunk 76
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 those instruments (Level 1). Cash and cash equivalents also include cash maintained for gaming operations.Restricted CashRestricted cash includes cash or cash equivalents held in certificates of deposit accounts or money market type funds, that are not subject to remeasurement on a recurring basis, which are restricted under certain operating agreements or restricted for future capital expenditures in the normal course of business.Marketable Securities Marketable securities consist primarily of trading securities held by the Company’s deferred compensation plans. The estimated fair values of the Company’s marketable securities are determined on an individual asset basis based upon quoted prices of identical assets available in active markets (Level 1) and represent the amounts the Company would expect to receive if the Company sold these marketable securities. As of both March 31, 2025 and December 31, 2024, the Company held $2 million in Level 1 securities.Derivative InstrumentsThe Company may enter into derivative instruments to 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 March 31, 2025 and December 31, 2024, the Company did not hold any cash flow hedges or any derivative financial instruments for trading purposes.

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

Use of EstimatesThe preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.AdvertisingAdvertising costs are expensed in the period the advertising first occurs. Advertising costs for the three months ended March 31, 2025 and 2024 totaled $60 million and $64 million, respectively, and are included within operating expenses. Advertising costs related to the Caesars Digital segment are primarily recorded in Casino expense.Interest Expense, NetThree Months Ended March 31,(In millions)20252024Interest expense$582 $607 Capitalized interest(2)(15)Interest income(6)(2)Total interest expense, net$574 $590 Recently Issued Accounting PronouncementsPronouncements to Be Implemented in Future PeriodsIn November 2024 (as clarified in January 2025 by ASU 2025