Company: CZR
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0001590895-25-000110
Chunk: 104

Company: Caesars Entertainment, Inc.
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 8
Chunk 104
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 23% of table games drop. Sports betting hold is typically in the range of 7% to 11% and iGaming hold typically ranges from 3% to 5%. In addition, hotel occupancy, which is the average percentage of available hotel rooms occupied during a period, is a key indicator for our hotel business in the Las Vegas segment. Complimentary and discounted rooms are treated as occupied rooms in our calculation of hotel occupancy. The key metrics we utilize to measure our profitability and performance are Adjusted EBITDA and Adjusted EBITDA margin. See “Results of Operations” section below. 

Table of Contents27

Significant Factors Impacting Financial Results

The following summary highlights the significant factors impacting our financial results for the three months ended March 31, 2025 and 2024:

•Economic Factors Impacting Discretionary Spending – Gaming and other leisure activities we offer represent discretionary expenditures which may be sensitive to economic downturns which impacts the behavior among the components of our customer mix differently. We monitor current and recent trends, including inflation, interest rates, global hostilities, trade tension and related actions, such as the imposition of tariffs between the United States and other countries, and the associated effects, if any, on travel, our customers, and our operations.

•Debt Transactions – During the three months ended March 31, 2024, we refinanced $4.4 billion of debt and we recorded loss on extinguishment of debt on the Statements of Operations of $48 million.

Results of Operations

The following table highlights the results of our operations:

Three Months Ended March 31,(Dollars in millions)20252024Net revenues:Las Vegas$1,003 $1,028 Regional1,388 1,365 Caesars Digital335 282 Managed and Branded67 68 Corporate and Other (a)1 (1)Total$2,794 $2,742 Net loss$(98)$(142)Adjusted EBITDA (b):Las Vegas$433 $440 Regional440 433 Caesars Digital43 5 Managed and Branded16 18 Corporate and Other (a)(48)(43)Total$884 $853 Net loss margin(3.5)%(5.2)%Adjusted EBITDA margin31.6 %31.1 %

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(a)Corporate and Other includes revenues related to certain licensing arrangements and various revenue sharing agreements