Company: CZR
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001590895-25-000126
Chunk: 54

Company: Caesars Entertainment, Inc.
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 1
Chunk 54
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 to economic downturns, which impact 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, visitation, our customers, and our operations.

•Debt Transactions – We refinanced and extended the maturities of outstanding debt in the amount of $4.4 billion in February 2024. We reduced interest rate margins for both the CEI Term Loan B and CEI Term Loan B-1 in May 2024. Refinancing activities resulted in loss on the early extinguishment of debt on the Statements of Operations of $3 million and $51 million for the three and six months ended June 30, 2024, respectively.

•Impairment Charges – During the three and six months ended June 30, 2025, we did not recognize any impairment charges. During the three and six months ended June 30, 2024, we recognized impairment charges in our Regional segment related to trademarks, gaming rights and goodwill totaling $118 million.

•Subsequent Event – On July 8, 2025, we fully redeemed all of the $546 million outstanding principal amount of the CEI Senior Notes due 2027 and paid the related accrued interest and expenses with borrowings under the CEI Revolving Credit Facility and proceeds received from the partial repayment and sale of $225 million of notes receivable related to the previously disclosed WSOP trademark sale.

Results of Operations

The following table highlights the results of our operations:

Three Months Ended June 30,Six Months Ended June 30,(Dollars in millions)2025202420252024Net revenues:Las Vegas$1,054 $1,101 $2,057 $2,129 Regional1,435 1,385 2,823 2,750 Caesars Digital343 276 678 558 Managed and Branded74 70 141 138 Corporate and Other (a)1 (2)2 (3)Total$2,907 $2,830 $5,701 $5,572 Net loss$(65)$(102)$(163)$(244)Adjusted EBITDA (b):Las Vegas$469 $514 $902 $954 Regional439 469