Company: CZR
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001590895-25-000068
Chunk: 618

Company: Caesars Entertainment, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1A
Chunk 618
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 with trademarks, gaming rights and goodwill below their respective carrying values and recorded impairments. This resulted in trademark impairment of $15 million, gaming rights impairment of $73 million and goodwill impairment of $182 million within the segment. Impairment charges of $32 million to a trademark were also recorded due to the performance of our smallest brand in the Las Vegas segment.During the year ended December 31, 2023, the Company recognized impairment charges in our Regional segment. These impairments were primarily due to a decrease in projected future cash flows at certain regional properties due to increased competition. The Company identified one reporting unit with an estimated fair value of the associated gaming rights below the carrying value and recorded an impairment of $81 million. In addition, the Company identified one reporting unit with an estimated fair value below its carrying value and we recorded an impairment of $14 million to goodwill.In December 2022, the Company recognized impairment charges in our Regional segment related to goodwill and gaming rights totaling $78 million and $30 million, respectively, due to an increase in the related discount rates, which represents the higher required cost of capital as a result of the macroeconomic environment and projected outlook. 

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

Changes in Carrying Value of Goodwill by Segment(In millions)Las VegasRegionalCaesars DigitalManaged and BrandedCEI TotalGross Goodwill:Balance as of January 1, 2023$6,889 $3,093 $1,204 $— $11,186 Other — — — — — Balance as of December 31, 20236,889 3,093 1,204 — 11,186 Accumulated Impairment:Balance as of January 1, 2023— (182)— — (182)Impairment— (14)— — (14)Balance as of December 31, 2023— (196)— — (196)Net carrying value, as of December 31, 2023$6,889 $2,897 $1,204 $— $10,990 Gross Goodwill:Balance as of January 1, 2024$6,889 $3,093 $1,204 $—