Company: CZR
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001590895-25-000068
Chunk: 446

Company: Caesars Entertainment, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1
Chunk 446
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 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. Adjusted EBITDA is included because management uses Adjusted EBITDA to measure performance and allocate resources, and believes that Adjusted EBITDA provides investors with additional information consistent with that used by management.

Table of Contents99

CAESARS ENTERTAINMENT, INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

Years Ended December 31,(In millions)202420232022Net income (loss) attributable to Caesars$(278)$786 $(899)Net income (loss) attributable to noncontrolling interests67 42 (11)Net loss from discontinued operations— — 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 Depreciation and amortization1,324 1,261 1,205 Impairment charges (c)302 95 108 Transaction costs and other, net (d)(285)6 90 Stock-based compensation expense94 104 101 Adjusted EBITDA$3,739 $3,938 $3,243 Adjusted EBITDA by Segment:Las Vegas$1,907 $2,016 $1,964 Regional1,810 1,962 1,985 Caesars Digital117 38 (666)Managed and Branded71 76 84 Corporate and Other(166)(154)(124)____________________(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