Company: CZR
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0001590895-25-000130
Chunk: 60

Company: Caesars Entertainment, Inc.
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 1
Chunk 60
---
 remained substantially flat for the three and nine months ended September 30, 2025, as compared to the same prior year periods, with mixed results between gaming and non-gaming revenues. Casino revenues increased driven by significant growth in iGaming handle coupled with improved iGaming hold in our Caesars Digital segment and the recently completed development projects of Caesars Virginia and Caesars New Orleans, offset in part by certain competitive markets in our Regional segment. Net revenues in the Las Vegas segment were down, primarily due to lower gaming and non-gaming revenue, consistent with visitation trends city-wide and unfavorable table games hold, as compared to the three and nine months ended September 30, 2024.

Operating Expenses

Operating expenses were as follows:

Three Months Ended September 30,Percent ChangeNine Months Ended September 30,Percent Change(Dollars in millions)20252024Variance20252024VarianceCasino$909 $828 $81 9.8 %$2,657 $2,497 $160 6.4 %Food and beverage277 271 6 2.2 %827 800 27 3.4 %Hotel156 152 4 2.6 %462 428 34 7.9 %Other114 104 10 9.6 %314 298 16 5.4 %General and administrative483 478 5 1.0 %1,443 1,443 — — %Corporate75 76 (1)(1.3)%241 234 7 3.0 %Impairment charges— — — *— 118 (118)(100.0)%Depreciation and amortization352 326 26 8.0 %1,073 979 94 9.6 %Transaction and other costs, net(10)(5)(5)(100.0)%26 14 12 85.7 %Total operating expenses$2,356 $2,230 $126 5.7 %$7,043 $6,811 $232 3.4 %____________________

*    Not meaningful.

Casino expenses consist principally of salaries and wages, gaming taxes and marketing and advertising costs attributable to our gaming operations. Food and beverage expenses consist principally of salaries and wages and costs of goods sold associated with our