Caesars Entertainment (CZR) CQ2 2025 Financial Results Summary

# Caesars Entertainment, Inc. (CZR) Q2 2025 Financial Results Summary

**Release Date: July 29, 2025**

Caesars Entertainment, Inc. (NASDAQ: CZR) published its operating results for the second quarter ended June 30, 2025. The following is a summary of the key financial highlights and performance metrics for the quarter.

### Financial Highlights

– **Net Revenues**:
– $2.9 billion in Q2 2025, up **2.9%** from $2.8 billion in Q2 2024.

– **Net Loss**:
– $82 million in Q2 2025, improved from a net loss of $122 million in Q2 2024, reflecting a **34.9%** decrease in losses.

– **Same-store Adjusted EBITDA**:
– $955 million in Q2 2025, down **4.5%** from $1.0 billion in Q2 2024.

– **Caesars Digital Adjusted EBITDA**:
– Achieved $80 million, up **100%** from $40 million in Q2 2024.

### Segment Performance

– **Las Vegas Segment**:
– Net revenues of $1.054 billion, a **3.7%** decrease from $1.101 billion in Q2 2024.
– Net income of $212 million, **20.9%** lower than $272 million in Q2 2024.
– Adjusted EBITDA was $469 million, down **8.0%** from $514 million in Q2 2024.

– **Regional Segment**:
– Net revenues of $1.435 billion, an increase of **3.6%** compared to $1.385 billion in Q2 2024.
– Net loss improved to $11 million, substantially better than the loss of $51 million in Q2 2024, reflecting an improvement of **78.4%**.
– Adjusted EBITDA totaled $439 million, a decrease of **6.4%** from $469 million in Q2 2024.

– **Caesars Digital Segment**:
– Revenues increased to $343 million, **24.3%** higher than $276 million in Q2 2024.

– **Managed and Branded Segment**:
– Revenues rose **5.7%** to $74 million from $70 million in Q2 2024.

– **Corporate and Other**:
– Reported a loss of $1 million, compared to a loss of $2 million in Q2 2024.

### Year-to-Date Results

For the six months ended June 30, 2025:
– **Net Revenues**: $5.701 billion, up **2.5%** from $5.572 billion in the same period of 2024.
– **Net Loss**: $197 million, a **31.6%** reduction in losses compared to $280 million in H1 2024.
– **Adjusted EBITDA**: $1.839 billion, virtually unchanged from $1.853 billion (-0.3%) in H1 2024.

### Balance Sheet and Liquidity

– **Debt**: $12.3 billion in total indebtedness as of June 30, 2025, decreased marginally from $12.294 billion at the end of 2024.
– **Cash and equivalents**: $982 million, up from $866 million at the end of 2024.
– **Net Debt**: Decreased to $11.290 billion from $11.428 billion at the end of 2024.

### Capital Management

– The company has a strategy to utilize free cash flow to:
– Reduce debt.
– Potentially repurchase stock in the future.

### Dividends and Share Repurchase

– The report did not indicate any declaration of a quarterly dividend or share repurchase announcements for the period.

### Conclusion

Caesars Entertainment showcases consistent quarterly progress in net revenues and a significant reduction in net loss compared to the prior year, complementing an improvement in its cash position. Despite challenges in gaming in Las Vegas, growth in the Regional and Digital segments continues to contribute positively to overall company performance. The company remains focused on deleveraging and shareholder returns going forward.

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(a) Net debt is a non-GAAP measurement and is presented solely as a supplemental disclosure because the Company believes it is helpful in understanding our financial position. Net debt is equal to total outstanding indebtedness less cash and cash equivalents.