Company: CZR
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001590895-25-000068
Chunk: 570

Company: Caesars Entertainment, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1A
Chunk 570
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2024, as compared to an income tax benefit of $888 million for the year ended December 31, 2023. The reported income tax expense in 2024 differed from the statutory income tax benefit primarily due to nondeductible goodwill impairments and write offs and nondeductible interest expense. The reported income tax benefit in 2023 differed from the statutory income tax benefit primarily due to the partial release of federal and state valuation allowances. During the second quarter of 2023, we reversed the valuation allowance related to certain deferred tax assets and recorded a one-time income tax benefit of $940 million, as we determined it was more likely than not that a portion of our federal and state deferred tax assets would be realized. Refer to Item 8. - Note 14 for the effective income tax rate reconciliation. 

Segment comparison for the years ended December 31, 2024, 2023 and 2022

Las Vegas Segment

Years Ended December 31,VariancePercent ChangeVariancePercent Change(Dollars in millions)2024202320222024 vs 20232023 vs 2022Net revenues:Casino$1,115 $1,212 $1,247 $(97)(8.0)%$(35)(2.8)%Food and beverage1,141 1,152 1,063 (11)(1.0)%89 8.4 %Hotel1,417 1,447 1,341 (30)(2.1)%106 7.9 %Other601 659 636 (58)(8.8)%23 3.6 %Net revenues$4,274 $4,470 $4,287 $(196)(4.4)%$183 4.3 %Table games drop (a)$3,124 $3,428 $3,464 $(304)(8.9)%$(36)(1.0)%Table games hold %21.3 %22.2 %22.0 %(0.9) pts0.2 ptsSlot handle (a)$10,569 $11,057 $10,718 $(488)(4.4)%$339 3.2 %Hotel occupancy97.5 %96.8 %92.2 %0.7 pts4.6 ptsAdjusted EBITDA$1,907 $2,016 $1,964 $(109