Company: CZR
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001590895-25-000126
Chunk: 112

Company: Caesars Entertainment, Inc.
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 8
Chunk 112
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Caesars DigitalManaged and BrandedCorporate and OtherTotalNet revenues$2,129 $2,750 $558 $138 $(3)$5,572 Gaming taxes(64)(606)(148)— — Labor expense(589)(572)— — — Other segment expenses (a)(522)(670)(365)(103)(80)Adjusted EBITDA$954 $902 $45 $35 $(83)$1,853 ____________________(a)The ‘Other segment expenses’ category for each of our reportable segments primarily includes:•Las Vegas and Regional Segments - Cost of sales associated with food, beverage and retail offerings; commission fees, talent fees and ticketing expenses associated with entertainment offerings; utility costs; costs of supplies; repairs and maintenance charges; professional fees; marketing and advertising expenses; software and licensing expenses; rental costs; and insurance expense.•Caesars Digital - Labor costs directly associated with the operation and maintenance of the digital platforms; professional fees; marketing and advertising expenses; and software and licenses expenses.•Managed and Branded - Reimbursable expenses which are primarily payroll costs associated with our managed properties.•Corporate and Other - Unallocated corporate payroll and overhead costs.Reconciliation of Net Income (Loss) Attributable to Caesars to Adjusted EBITDA by SegmentAdjusted EBITDA is presented as a measure of the Company’s performance. Adjusted EBITDA is defined as revenues less certain operating expenses and is comprised of net income (loss) before (i) interest income and interest expense, net of interest capitalized, (ii) income tax (benefit) provision, (iii) depreciation and amortization, and (iv) certain items that we do not consider indicative of our ongoing operating performance at an operating property level.In evaluating Adjusted EBITDA you should be aware that, in the future, we may incur expenses that are the same or similar to some of the adjustments in this presentation. The presentation of Adjusted EBITDA should not be construed as an inference that future results will be unaffected by unusual or unexpected items.Adjusted EBITDA is a financial measure commonly used in our industry and should not be construed as an alternative to net income (loss) as an indicator of operating performance or as an alternative to cash flows provided by operating activities as a measure of liquidity (as determined in accordance with GAAP). Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies within the industry