Company: CZR
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001590895-25-000068
Chunk: 350

Company: Caesars Entertainment, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1
Chunk 350
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 markets, construction disruption from renovation projects at certain of our properties, and inclement weather in several of our property locations during the first quarter of 2024. In addition, net revenues in our Las Vegas segment decreased due to the divestiture of Rio at the end of the third quarter of 2023, and lower table games volume and hold. These results were partially offset for the year ended December 31, 2024 by higher net revenues from our Caesars Digital segment due to a significant increase in iGaming handle coupled with improved iGaming hold and higher hold in sports betting. Furthermore, our Regional segment generated incremental revenues from the opening of our temporary gaming facilities at Caesars Virginia and Harrah’s Columbus Nebraska during the second quarter of 2023, followed by the permanent facilities of Harrah’s Columbus Nebraska in May 2024 and Caesars Virginia on December 17, 2024. 

Operating Expenses

Operating expenses were as follows:

Years Ended December 31,VariancePercent ChangeVariancePercent Change(Dollars in millions)2024202320222024 vs 20232023 vs 2022Casino$3,370 $3,342 $3,526 $28 0.8 %$(184)(5.2)%Food and beverage1,073 1,049 935 24 2.3 %114 12.2 %Hotel580 570 529 10 1.8 %41 7.8 %Other396 434 411 (38)(8.8)%23 5.6 %General and administrative1,920 2,012 2,068 (92)(4.6)%(56)(2.7)%Corporate307 306 286 1 0.3 %20 7.0 %Impairment charges302 95 108 207 *(13)(12.0)%Depreciation and amortization1,324 1,261 1,205 63 5.0 %56 4.6 %Transaction and other costs, net(331)(13)14 (318)*(27)*Total operating expenses$8,941 $9,056 $9,082 $(115)(1.3)%$(26)(0.3)%___________________

*    Not meaningful.

Casino expenses consist primarily of salaries and wages associated with our gaming operations, gaming taxes and marketing and