Company: CZR
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001590895-25-000068
Chunk: 734

Company: Caesars Entertainment, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1A
Chunk 734
---
unaudited):

Years Ended December 31,(In millions)202420232022Net income (loss) attributable to Caesars$(278)$786 $(899)Net income (loss) attributable to noncontrolling interests67 42 (11)Discontinued operations, net of income taxes— — 386 (Benefit) provision for income taxes (a)87 (888)(41)Other income (b)(27)(10)(46)Loss on extinguishment of debt89 200 85 Interest expense, net2,366 2,342 2,265 Impairment charges (c)302 95 108 Depreciation and amortization1,324 1,261 1,205 Transaction costs and other, net (d)(285)6 90 Stock-based compensation expense94 104 101 Adjusted EBITDA3,739 3,938 3,243 Pre-disposition EBITDA, net (e)(16)(36)(39)Total Adjusted EBITDA$3,723 $3,902 $3,204 ____________________

(a)Benefit for income taxes for the year ended December 31, 2023 includes the release of $940 million of valuation allowance against deferred tax assets.

(b)Other income for the year ended December 31, 2024 primarily represents a change in estimate of our disputed claims liability.

(c)Impairment charges for the year ended December 31, 2024 include impairments within our Regional segment as a result of a decrease in projected future cash flows at certain properties primarily due to localized competition and an impairment to a trademark due to the performance of our smallest brand in the Las Vegas segment. 

(d)Transaction costs and other, net primarily includes non-cash losses on the write down and disposal of assets, gains from the sales of the WSOP trademark and the LINQ Promenade, insurance proceeds from property damage, professional services for transaction and integration costs, various contract exit or termination costs, pre-opening costs in connection with new property openings and expansion projects at existing properties, and non-cash changes in equity method investments. 

(e)Adjustment for pre-disposition results of operations reflecting the subtraction of results of operations for Rio All-Suite Hotel & Casino and the LINQ Promenade prior to divestiture, for the relevant periods. See Item 7 - Overview above. Such figures are based on unaudited internal financial statements and have