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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
NET REVENUES:      
Net revenues $ 11,486 $ 11,245 $ 11,528
OPERATING EXPENSES:      
General and administrative 1,926 1,920 2,012
Corporate 322 307 306
Impairment charges 182 302 95
Depreciation and amortization 1,417 1,324 1,261
Transaction and other costs, net 38 (331) (13)
Total operating expenses 9,628 8,941 9,056
Operating income 1,858 2,304 2,472
OTHER EXPENSE:      
Interest expense, net (2,304) (2,366) (2,342)
Loss on extinguishment of debt (4) (89) (200)
Other income 2 27 10
Total other expense (2,306) (2,428) (2,532)
Loss before income taxes (448) (124) (60)
Benefit (provision) for income taxes 11 (87) 888
Net income (loss) (437) (211) 828
Net income attributable to noncontrolling interests (65) (67) (42)
Net income (loss) attributable to Caesars $ (502) $ (278) $ 786
Net income (loss) attributable to Caesars per share - basic and diluted:      
Basic income (loss) per share (in dollars per share) $ (2.42) $ (1.29) $ 3.65
Diluted income (loss) per share (in dollars per share) $ (2.42) $ (1.29) $ 3.64
Weighted average basic shares outstanding (in shares) 208 215 215
Weighted average diluted shares outstanding (in shares) 208 215 216
Casino      
NET REVENUES:      
Net revenues $ 6,617 $ 6,267 $ 6,367
OPERATING EXPENSES:      
Cost of goods and services 3,602 3,370 3,342
Food and beverage      
NET REVENUES:      
Net revenues 1,714 1,716 1,728
OPERATING EXPENSES:      
Cost of goods and services 1,106 1,073 1,049
Hotel      
NET REVENUES:      
Net revenues 1,945 2,016 2,090
OPERATING EXPENSES:      
Cost of goods and services 615 580 570
Other      
NET REVENUES:      
Net revenues 1,210 1,246 1,343
OPERATING EXPENSES:      
Cost of goods and services $ 420 $ 396 $ 434