Company: CZR
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0001590895-25-000130
Chunk: 65

Company: Caesars Entertainment, Inc.
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 1
Chunk 65
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 games hold %19.8 %21.2 %(1.4) pts20.4 %21.2 %(0.8) ptsSlot handle$11,373 $10,434 $939 9.0 %$32,734 $30,836 $1,898 6.2 %Adjusted EBITDA$506 $498 $8 1.6 %$1,385 $1,400 $(15)(1.1)%Adjusted EBITDA margin32.9 %34.4 %(1.5) pts31.8 %33.4 %(1.6) ptsNet income attributable to Caesars$56 $125 $(69)(55.2)%$65 $115 $(50)(43.5)%

Our Regional segment’s net revenues improved for the three and nine months ended September 30, 2025, as compared to the same prior year periods, primarily due to the positive results driven by our recently completed Caesars Virginia and Caesars New Orleans development projects. These increases were partially offset by the continued impact of competition and inclement weather in several of our regional markets, as well as construction disruption in Lake Tahoe. Adjusted EBITDA remained stable for the three and nine months ended September 30, 2025, as compared to the same prior year periods, primarily due to increased labor costs and targeted customer reinvestment in certain competitive markets during the second quarter. Net income decreased for the three and nine months ended September 30, 2025, as compared to the prior year periods, due to additional depreciation expense resulting from the recently completed development projects.

Slot win percentage in the Regional segment for the three and nine months ended September 30, 2025 was within our typical range.

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Caesars Digital Segment

Three Months Ended September 30,Percent ChangeNine Months Ended September 30,Percent Change(Dollars in millions)20252024Variance20252024VarianceNet revenues:Casino (a)$300 $282 $18 6.4 %$955 $794 $161 20.3 %Other11 21 (10)(47.6)%34 67 (33)(49.3)%Net revenues$311 $303 $8 2.6 %$989 $861 $128 14.9