Company: CZR
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0001590895-25-000130
Chunk: 155

Company: Caesars Entertainment, Inc.
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 2
Chunk 155
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)(6.7)%Other132 155 (23)(14.8)%401 447 (46)(10.3)%Net revenues$952 $1,062 $(110)(10.4)%$3,009 $3,191 $(182)(5.7)%Table games drop$658 $721 $(63)(8.7)%$2,142 $2,342 $(200)(8.5)%Table games hold %17.4 %23.1 %(5.7) pts19.3 %20.9 %(1.6) ptsSlot handle$2,544 $2,605 $(61)(2.3)%$7,654 $7,737 $(83)(1.1)%Hotel occupancy91.6 %97.1 %(5.5) pts94.9 %97.8 %(2.9) ptsAdjusted EBITDA$379 $472 $(93)(19.7)%$1,281 $1,426 $(145)(10.2)%Adjusted EBITDA margin39.8 %44.4 %(4.6) pts42.6 %44.7 %(2.1) ptsNet income attributable to Caesars$132 $226 $(94)(41.6)%$521 $696 $(175)(25.1)%

Our Las Vegas segment’s net revenues, net income, Adjusted EBITDA and Adjusted EBITDA margin decreased for the three and nine months ended September 30, 2025, as compared to the same prior year periods, primarily due to city-wide visitation trends that have resulted in lower gaming and non-gaming revenue. Table and slot volumes declined, coupled with unfavorable table games hold, particularly during the third quarter, resulting in current year third quarter table games hold at the low end of the typical range while prior year third quarter table games hold exceeded the typical range. Similarly, declines in city-wide visitation have resulted in lower hotel occupancy and room rates compared to the prior year periods. Other revenue declined as compared to the same prior year periods primarily due to the sale of the LINQ Promenade during the fourth quarter of 2024.

Slot win percentage in the Las Vegas segment for the three and nine months ended September 30, 2025 was within our typical range.

Table of Contents34

Regional Segment

Three Months Ended September