Company: CZR
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001590895-25-000126
Chunk: 41

Company: Caesars Entertainment, Inc.
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 Under the 2024 Share Repurchase Program, the Company may, from time to time, repurchase shares of common stock on the open market (either with or without a 10b5-1 plan) or through privately negotiated transactions. In April 2025, the Company acquired 4,188,466 shares of our common stock at an aggregate value of $100 million, at an average of $23.84 per share, excluding commissions or applicable excise tax. As of June 30, 2025, we are authorized to repurchase up to $350 million of common stock under the 2024 Share Repurchase Program. The 2024 Share Repurchase Program has no time limit and may be suspended or discontinued at any time without notice. There is no minimum number of shares of common stock that the Company is required to repurchase under the 2024 Share Repurchase Program. All share repurchases under the 2024 Share Repurchase Program are retired upon repurchase.

Note 10. Income Taxes

On July 4, 2025, a new tax policy was enacted into law. The new tax policy makes permanent key elements of the Tax Cuts and Jobs Act from 2017, including 100% bonus depreciation, domestic research cost expensing, and the business interest expense limitation. As a result of the enactment of the legislation, the Company expects a favorable impact to tax expense during the remainder of 2025, primarily related to changes in the business interest expense limitation. The Company continues to evaluate the impact of the new tax policy and is not able to quantify the impact on the Financial Statements at this time.

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

The Company utilized a discrete effective tax rate method, as allowed by ASC 740-270 “Income Taxes, Interim Reporting,” to calculate taxes for the three and six months ended June 30, 2025 and 2024. The Company determined that small changes in estimated “ordinary” income would result in significant changes in the estimated annual effective tax rate (“AETR”), and therefore, the AETR method would not provide a reliable estimate.Income Tax AllocationThree Months Ended June 30,Six Months Ended June 30,(In millions)2025202420252024Loss before income taxes$(52)$(92)$(139)$(219)Provision for