Company: CZR
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001590895-25-000126
Chunk: 149

Company: Caesars Entertainment, Inc.
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 2
Chunk 149
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 ended June 30, 2025 and 2024

Net Revenues

Net revenues were as follows:

Three Months Ended June 30,Percent ChangeSix Months Ended June 30,Percent Change(Dollars in millions)20252024Variance20252024VarianceCasino$1,668 $1,557 $111 7.1 %$3,262 $3,092 $170 5.5 %Food and beverage428 435 (7)(1.6)%863 857 6 0.7 %Hotel509 514 (5)(1.0)%991 1,007 (16)(1.6)%Other302 324 (22)(6.8)%585 616 (31)(5.0)%Net revenues$2,907 $2,830 $77 2.7 %$5,701 $5,572 $129 2.3 %

Consolidated net revenues increased for the three and six months ended June 30, 2025, as compared to the same prior year periods, due to a significant increase in iGaming handle coupled with improved iGaming hold and higher hold in sports betting in our Caesars Digital segment. Net revenues in the Las Vegas segment were down slightly primarily due to lower non-gaming revenue, consistent with visitation trends city-wide, as compared to the three and six months ended June 30, 2024. Net revenues in the Regional segment increased primarily due to increased visitation driven by the opening of expanded amenities at our recently completed development projects of Caesars Virginia and Caesars New Orleans.

Operating Expenses

Operating expenses were as follows:

Three Months Ended June 30,Percent ChangeSix Months Ended June 30,Percent Change(Dollars in millions)20252024Variance20252024VarianceCasino$887 $817 $70 8.6 %$1,748 $1,669 $79 4.7 %Food and beverage275 266 9 3.4 %550 529 21 4.0 %Hotel155 139 16 11.5 %306 276 30 10.9 %Other105 100 5 5.0 %200 194 6 3.1 %General and administrative477 465 12 2.6 %960