Company: CZR
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0001590895-25-000130
Chunk: 152

Company: Caesars Entertainment, Inc.
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 2
Chunk 152
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%General and administrative483 478 5 1.0 %1,443 1,443 — — %Corporate75 76 (1)(1.3)%241 234 7 3.0 %Impairment charges— — — *— 118 (118)(100.0)%Depreciation and amortization352 326 26 8.0 %1,073 979 94 9.6 %Transaction and other costs, net(10)(5)(5)(100.0)%26 14 12 85.7 %Total operating expenses$2,356 $2,230 $126 5.7 %$7,043 $6,811 $232 3.4 %____________________

*    Not meaningful.

Casino expenses consist principally of salaries and wages, gaming taxes and marketing and advertising costs attributable to our gaming operations. Food and beverage expenses consist principally of salaries and wages and costs of goods sold associated with our food and beverage operations. Hotel expenses consist principally of salaries and wages and supplies associated with our hotel operations. Other expenses consist principally of salaries and wages, costs of goods sold associated with our retail operations, entertainment costs, including professional talent fees, reimbursable management costs (described below) and other operations. 

Casino expenses increased for the three and nine months ended September 30, 2025, as compared to the same prior year periods. Casino expenses rose in connection with increased revenues in our Caesars Digital and Regional segments and targeted customer reinvestment in certain competitive markets in our Regional segment. Gaming taxes increased in connection with additional casino revenues, as well as the impact of increased gaming tax rates on sports betting wagers and iGaming in certain states, which took effect on July 1, 2025. Increased casino expenses were partially offset by decreased marketing expenses in our Las Vegas segment associated with the Super Bowl held in Las Vegas in the first quarter of 2024. Food and beverage and hotel expenses have increased due to incremental wages correlating with additional revenues associated with the opening of 

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Caesars Virginia’s permanent facility and the completed expansion of Caesars New Orleans, as well as higher union and non-union wages. We continue to focus on labor efficiencies across the enterprise to manage increased labor costs.

General and administrative expenses include items such as information technology, facility maintenance, utilities, property and liability