Company: CZR
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001590895-25-000126
Chunk: 24

Company: Caesars Entertainment, Inc.
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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 do not expect the amendments in this update to have a material impact on our Financial Statements.

Table of Contents10

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

Note 3. Property and Equipment

(In millions)June 30, 2025December 31, 2024Land$2,058 $2,059 Buildings, riverboats, and leasehold and land improvements15,108 14,866 Furniture, fixtures, and equipment3,025 2,880 Construction in progress216 167 Total property and equipment20,407 19,972 Less: accumulated depreciation(5,761)(5,160)Total property and equipment, net$14,646 $14,812 A portion of our property and equipment is subject to various operating leases for which we are the lessor. Leased property includes our hotel rooms, convention space and retail space through various short-term and long-term operating leases.Depreciation ExpenseThree Months Ended June 30,Six Months Ended June 30,(In millions)2025202420252024Depreciation expense$331 $293 $655 $584 Depreciation is calculated using the straight-line method over the shorter of the estimated useful life of the asset or the related lease.

 Note 4. Goodwill and Intangible Assets, net

The Company evaluates for impairment annually on October 1 of each year, or whenever events or circumstances make it more likely than not that an impairment may have occurred. When such events or circumstances are noted, the Company then compares estimated future cash flows, discounted, to the carrying value of the asset. If the discounted cash flows exceed the carrying value, no impairment is recorded. Impairment charges are presented on the statements of operations.During the three and six months ended June 30, 2025, the Company did not recognize any impairment charges. During the three and six months ended June 30, 2024, the Company recognized impairment charges in our Regional segment related to trademarks, gaming rights and goodwill totaling $118 million.Changes in Carrying Value of Goodwill and Other Intangible AssetsNon-Amortizing Intangible Assets(In millions)Amortizing Intangible AssetsGoodwillOtherBalances as of December 31, 2024$856 $10,601 $3,277 Amortization expense(66)—