Company: CZR
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0001590895-25-000110
Chunk: 90

Company: Caesars Entertainment, Inc.
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 8
Chunk 90
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 million and $35 million, respectively, of real estate lease revenue.Real estate lease revenue includes $14 million and $13 million of variable rental income for the three months ended March 31, 2025 and 2024, respectively.

Note 8. Earnings per Share

The following table illustrates the reconciliation of the numerators and denominators of the basic and diluted net income (loss) per share computations for the three months ended March 31, 2025 and 2024:Three Months Ended March 31,(In millions, except per share data)20252024Net loss attributable to Caesars$(115)$(158)Shares outstanding:Weighted average shares outstanding – basic212 216 Weighted average shares outstanding – diluted212 216 Net loss per common share attributable to common stockholders – basic:$(0.54)$(0.73)Net loss per common share attributable to common stockholders – diluted:$(0.54)$(0.73)For a period in which the Company generated a net loss attributable to Caesars, the weighted average shares outstanding - basic was used in calculating diluted loss per share because using diluted shares would have been anti-dilutive to loss per share.

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

Weighted-Average Number of Anti-Dilutive Shares Excluded from the Calculation of Earnings per ShareThree Months Ended March 31,(In millions)20252024Stock-based compensation awards5 4 Total anti-dilutive common stock5 4 

Note 9. Stock-Based Compensation and Stockholders’ Equity

Stock-Based AwardsThe Company maintains a long-term incentive plan, adopted by the Board of Directors (“Board”) and approved by the Company’s stockholders, which allows for granting stock-based compensation awards to directors, employees, officers, and consultants or advisers who render services to the Company or its subsidiaries, based on Company Common Stock, including stock options, restricted stock, restricted stock units (“RSUs”), performance stock units (“PSUs”), market-based performance stock units (“MSUs”), stock appreciation rights, and other stock-based awards or dividend equivalents. Forfeitures are recognized in the period in which they occur. Total stock-based compensation expense in the accompanying Statements of Operations totaled $26 million and $25 million during the three months ended March 31, 2025