Company: CZR
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0001590895-25-000130
Chunk: 125

Company: Caesars Entertainment, Inc.
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 8
Chunk 125
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30, 2025 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.

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The income tax provision for the three and nine months ended September 30, 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.

Segment comparison of the three and nine months ended September 30, 2025 and 2024

Las Vegas Segment

Three Months Ended September 30,Percent ChangeNine Months Ended September 30,Percent Change(Dollars in millions)20252024Variance20252024VarianceNet revenues:Casino$260 $294 $(34)(11.6)%$795 $829 $(34)(4.1)%Food and beverage270 283 (13)(4.6)%834 866 (32)(3.7)%Hotel290 330 (40)(12.1)%979 1,049 (70)(6.7)%Other132 155 (23)(14.8)%401 447 (46)(10.3)%Net revenues$952 $1,062 $(110)(10.4)%$3,009 $3,191 $(182)(5.7)%Table games drop$658 $721 $(63)(8.7)%$2,142 $2,342 $(200)(8.5)%Table games hold %17.4 %23.1 %(5.7) pts19.3 %20.9 %(1.6) ptsSlot handle$2,544 $2,605 $(61)(2.3)%$7,654 $7,737 $(83)(1.1)%Hotel occupancy91.6 %97.1 %(5.5) pts94.9 %97.8 %(2.9) ptsAdjusted EBITDA$379 $472 $(93)(19.7)%$1,281 $1,426 $(145)(10.2)%Adjusted EBITDA margin39.8 %44.4 %(4.6) pts42.6 %44.7 %(2.1) ptsNet income attributable to Ca