Company: CZR
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001590895-25-000126
Chunk: 123

Company: Caesars Entertainment, Inc.
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 8
Chunk 123
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)(3)(30.0)%(24)(25)1 4.0 %

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*    Not meaningful.

Interest expense, net decreased for the three and six months ended June 30, 2025, as compared to the same prior year periods, primarily due a reduction in outstanding debt. 

For the six months ended June 30, 2024, loss on extinguishment of debt was primarily related to the prepayments of the CEI Senior Secured Notes due 2025, the Caesars Resort Collection (“CRC”) Senior Secured Notes, and the partial prepayment of the CEI Term Loan B.

Other income (loss) for the six months ended June 30, 2024 primarily represents a change in the estimate of our disputed claims liability.

The income tax provision for the three and six months ended June 30, 2025 and 2024 differed from the expected income tax provision based on the federal tax rate of 21% primarily due to an increase in federal and state valuation allowances against the deferred tax assets for excess business interest expense. As a result of the enactment of a new tax policy on July 4, 2025, the Company expects a favorable impact to tax expense during the remainder of 2025, primarily related to changes in the business interest expense limitation. However, as our assessment is ongoing, the Company is not able to quantify the impact on the Financial Statements at this time.

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Segment comparison of the three and six months ended June 30, 2025 and 2024

Las Vegas Segment

Three Months Ended June 30,Percent ChangeSix Months Ended June 30,Percent Change(Dollars in millions)20252024Variance20252024VarianceNet revenues:Casino$292 $296 $(4)(1.4)%$535 $535 $— — %Food and beverage278 296 (18)(6.1)%564 583 (19)(3.3)%Hotel346 357 (11)(3.1)%689 719 (30)(4.2)%Other138 152 (14)(9.2)%269 292 (23)(7.9)%Net revenues$1,054 $1,101 $(47)(4.3)%$2,057 $2,129 $(72)(3.4)%Table games drop$740 $779 $(39)(5.0