CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
CURRENT ASSETS:
Cash and cash equivalents	$ 887	$ 866
Restricted cash	85	95
Accounts receivable, net	476	470
Inventories	43	45
Prepayments and other current assets	312	271
Total current assets	1,803	1,747
Investments in and advances to unconsolidated affiliates	133	131
Property and equipment, net	14,358	14,812
Goodwill	10,441	10,601
Intangible assets other than goodwill	3,985	4,133
Deferred tax asset	67	62
Other long-term assets, net	852	1,104
Total assets	31,639	32,590
CURRENT LIABILITIES:
Accounts payable	297	296
Accrued interest	224	242
Accrued other liabilities	1,618	1,625
Current portion of long-term debt	114	109
Total current liabilities	2,253	2,272
Long-term financing obligations	13,096	12,899
Long-term debt	11,670	12,033
Deferred tax liability	58	130
Other long-term liabilities	876	880
Total liabilities	27,953	28,214
Commitments and contingencies (Note 8)
STOCKHOLDERS' EQUITY:
Preferred stock, $0.00001 par value, 150,000,000 shares authorized, no shares issued and outstanding	0	0
Common stock, $0.00001 par value, 500,000,000 shares authorized, 202,629,159 and 211,325,086 issued and outstanding	0	0
Additional paid-in capital	6,709	6,862
Accumulated deficit	(3,303)	(2,801)
Treasury stock, at cost	0	0
Accumulated other comprehensive income	98	96
Caesars stockholders' equity	3,504	4,157
Noncontrolling interests	182	219
Total stockholders’ equity	3,686	4,376
Total liabilities and stockholders’ equity	$ 31,639	$ 32,590