Company: CZR
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0001590895-25-000130
Chunk: 157

Company: Caesars Entertainment, Inc.
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 2
Chunk 157
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 periods, primarily due to increased labor costs and targeted customer reinvestment in certain competitive markets during the second quarter. Net income decreased for the three and nine months ended September 30, 2025, as compared to the prior year periods, due to additional depreciation expense resulting from the recently completed development projects.

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

Table of Contents35

Caesars Digital Segment

Three Months Ended September 30,Percent ChangeNine Months Ended September 30,Percent Change(Dollars in millions)20252024Variance20252024VarianceNet revenues:Casino (a)$300 $282 $18 6.4 %$955 $794 $161 20.3 %Other11 21 (10)(47.6)%34 67 (33)(49.3)%Net revenues$311 $303 $8 2.6 %$989 $861 $128 14.9 %Sports betting handle (b)$2,476 $2,328 $148 6.4 %$8,097 $8,207 $(110)(1.3)%Sports betting hold %7.8 %8.6 %(0.8) pts7.9 %7.4 %0.5 ptsiGaming handle$4,761 $3,826 $935 24.4 %$13,954 $10,861 $3,093 28.5 %iGaming hold %3.6 %3.5 %0.1 pts3.6 %3.4 %0.2 ptsAdjusted EBITDA$28 $52 $(24)(46.2)%$151 $97 $54 55.7 %Adjusted EBITDA margin9.0 %17.2 %(8.2) pts15.3 %11.3 %4 ptsNet income (loss) attributable to Caesars$(21)$11 $(32)*$18 $(19)$37 *

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*    Not meaningful.

(a)Includes total promotional and complimentary incentives related to sports betting, iGaming, and online poker of $78 million and $66 million for the three months ended September 30, 2025 and 2024,