Company: CZR
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0001590895-25-000130
Chunk: 66

Company: Caesars Entertainment, Inc.
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 1
Chunk 66
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%Sports betting handle (b)$2,476 $2,328 $148 6.4 %$8,097 $8,207 $(110)(1.3)%Sports betting hold %7.8 %8.6 %(0.8) pts7.9 %7.4 %0.5 ptsiGaming handle$4,761 $3,826 $935 24.4 %$13,954 $10,861 $3,093 28.5 %iGaming hold %3.6 %3.5 %0.1 pts3.6 %3.4 %0.2 ptsAdjusted EBITDA$28 $52 $(24)(46.2)%$151 $97 $54 55.7 %Adjusted EBITDA margin9.0 %17.2 %(8.2) pts15.3 %11.3 %4 ptsNet income (loss) attributable to Caesars$(21)$11 $(32)*$18 $(19)$37 *

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*    Not meaningful.

(a)Includes total promotional and complimentary incentives related to sports betting, iGaming, and online poker of $78 million and $66 million for the three months ended September 30, 2025 and 2024, respectively, and $223 million and $214 million for the nine months ended September 30, 2025 and 2024, respectively. Promotional and complimentary incentives for online poker were $4 million and $5 million for the three months ended September 30, 2025 and 2024, respectively, and $12 million and $11 million for the nine months ended September 30, 2025 and 2024, respectively.

(b)Caesars Digital generated an additional $193 million and $191 million of sports betting handle for the three months ended September 30, 2025 and 2024, respectively, and $661 million and $669 million for the nine months ended September 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 11.0% and 12.7%, for the three months