Company: CZR
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001590895-25-000126
Chunk: 155

Company: Caesars Entertainment, Inc.
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 2
Chunk 155
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 %iGaming hold %3.6 %3.3 %0.3 pts3.6 %3.3 %0.3 ptsAdjusted EBITDA$80 $40 $40 100.0 %$123 $45 $78 173.3 %Adjusted EBITDA margin23.3 %14.5 %8.8 pts18.1 %8.1 %10 ptsNet income (loss) attributable to Caesars$39 $4 $35 *$39 $(30)$69 *

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*    Not meaningful.

(a)Includes total promotional and complimentary incentives related to sports betting, iGaming, and online poker of $72 million and $62 million for the three months ended June 30, 2025 and 2024, respectively, and $145 million and $148 million for the six months ended June 30, 2025 and 2024, respectively. Promotional and complimentary incentives for online poker were $5 million and $3 million for the three months ended June 30, 2025 and 2024, respectively, and $8 million and $6 million for the six months ended June 30, 2025 and 2024, respectively.

(b)Caesars Digital generated an additional $199 million of sports betting handle for both the three months ended June 30, 2025 and 2024 and $468 million and $478 million for the six months ended June 30, 2025 and 2024, respectively, which is not included in this table, for select wholly-owned and third-party operations for which Caesars Digital provides services and we receive all, or a share of, the net profits. Hold related to these operations was 11.2% and 9.4%, for the three months ended June 30, 2025 and 2024, respectively, and 11.1% and 9.6% for the six months ended June 30, 2025 and 2024, respectively. Sports betting handle includes $12 million and $11 million for the three months ended June 30, 2025 and 2024, respectively, and $22 million for both the six months ended June 30, 2025 and 2024 related to horse racing and pari-mutuel wagers.

Caesars Digital’s net revenues,