Company: CZR
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0001590895-25-000110
Chunk: 58

Company: Caesars Entertainment, Inc.
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 1
Chunk 58
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 in our recently completed and rebranded properties. These increases partially were offset by the continued impact of competition associated with new casino resorts opening and inclement weather in several of our regional markets. Net income declined for the three months ended March 31, 2025, compared to the same prior year period, primarily due to increased depreciation expense associated with the completion of the construction projects mentioned above.

Slot win percentage in the Regional segment for the three months ended March 31, 2025 was within our typical range.

Caesars Digital Segment

Three Months Ended March 31,Percent Change(Dollars in millions)20252024VarianceNet revenues:Casino (a)$324 $266 $58 21.8 %Other11 16 (5)(31.3)%Net revenues$335 $282 $53 18.8 %Sports betting handle (b)$3,128 $3,379 $(251)(7.4)%Sports betting hold %7.3 %6.7 %0.6 ptsiGaming handle$4,488 $3,498 $990 28.3 %iGaming hold %3.6 %3.3 %0.3 ptsAdjusted EBITDA$43 $5 $38 *Adjusted EBITDA margin12.8 %1.8 %11 ptsNet loss attributable to Caesars$— $(34)$34 100.0 %

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*    Not meaningful.

(a)Includes total promotional and complimentary incentives related to sports betting, iGaming, and online poker of $73 million and $86 million for the three months ended March 31, 2025 and 2024, respectively. Promotional and complimentary incentives for online poker were $3 million for both the three months ended March 31, 2025 and 2024.

(b)Caesars Digital generated an additional $269 million and $279 million of sports betting handle for the three months ended March 31, 2025 and 2024, respectively, which is not included in this table, for select wholly-owned and third-party operations for which Caesars Digital provides services and we receive all, or a share of, the net profits. Hold related to these operations was 11.0% and 9.8%, for the three months ended March 31, 2025 and 2024, respectively.