Logo

CZR

Caesars Entertainment, Inc.

CZR

Caesars Entertainment, Inc. • NASDAQ
$23.27 ▲ 1.44% (+0.33)
Market Cap $4.88 B
52w High $40.00
52w Low $18.25
Dividend Yield 0%
P/E -20.23
Volume 3.91M
Outstanding Shares 209.75M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $2.869B ▼ $558M ▼ $-55M ▲ -1.917% ▲ $-0.27 ▲ $869M ▼
Q2-2025 $2.907B ▲ $959M ▲ $-82M ▲ -2.821% ▲ $-0.39 ▲ $898M ▲
Q1-2025 $2.794B ▼ $924M ▲ $-115M ▼ -4.116% ▼ $-0.54 ▼ $850M ▼
Q4-2024 $2.799B ▼ $734M ▼ $11M ▲ 0.393% ▲ $0.051 ▲ $979M ▲
Q3-2024 $2.874B $875M $-9M -0.313% $-0.042 $976M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $836M ▼ $31.9B ▼ $27.925B ▼ $3.782B ▼
Q2-2025 $982M ▲ $32.478B ▲ $28.359B ▲ $3.896B ▼
Q1-2025 $884M ▲ $32.398B ▼ $28.119B ▼ $4.053B ▼
Q4-2024 $866M ▲ $32.59B ▼ $28.214B ▼ $4.157B ▼
Q3-2024 $802M $32.969B $28.585B $4.178B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-55M ▲ $318M ▼ $18M ▲ $-483M ▼ $-144M ▼ $123M ▼
Q2-2025 $-82M ▲ $462M ▲ $-228M ▲ $-157M ▼ $81M ▲ $232M ▲
Q1-2025 $-115M ▼ $241M ▼ $-229M ▼ $-19M ▲ $25M ▼ $18M ▼
Q4-2024 $11M ▲ $309M ▲ $275M ▲ $-494M ▼ $58M ▲ $30M ▲
Q3-2024 $-9M $271M $-426M $122M $-38M $-153M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Casino
Casino
 $1.58Bn ▲$1.59Bn ▲$1.67Bn ▲$1.64Bn ▼
Food and Beverage
Food and Beverage
 $420.00M ▲$430.00M ▲$430.00M ▲$440.00M ▲
Hotel Owned
Hotel Owned
 $490.00M ▲$480.00M ▼$510.00M ▲$480.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown strongly over the past several years as operations recovered from the pandemic and digital offerings expanded, though the most recent year shows a slight step back rather than continued growth. Core operating profits have improved a lot versus the past, suggesting the underlying casino and resort business is healthier and more efficient than it used to be. However, the company still swings between profit and loss at the bottom line, likely reflecting heavy interest costs on its debt, ongoing spending to build its digital business, and some non‑recurring charges. In simple terms: the business is robust at the operating level but not yet consistently turning that into steady net earnings for shareholders.

Balance Sheet

Balance Sheet The balance sheet is heavily debt‑financed, which is typical for large casino and resort operators but still an important risk. Total assets are sizable and fairly stable, reflecting a large portfolio of properties and licenses, but cash on hand is relatively modest compared to the debt load. Equity is positive yet small relative to the size of the business, indicating a thin buffer against shocks. Overall, Caesars looks asset‑rich but highly leveraged, so the company’s fortunes are closely tied to maintaining strong cash generation and stable credit conditions.

Cash Flow

Cash Flow Cash flow from operations has been solid and generally improving versus the pandemic period, showing that the business generates meaningful cash in normal conditions. Free cash flow was positive for several years but recently dipped slightly negative as the company ramped up investment in property upgrades and digital initiatives. In other words, Caesars is using much of its operating cash to reinvest for future growth rather than to build cash reserves or reduce debt quickly. That strategy can pay off if the investments earn good returns, but it leaves less room for error if business conditions soften.

Competitive Edge

Competitive Edge Caesars holds a strong competitive position built on well‑known brands, marquee locations in Las Vegas and other key markets, and one of the most powerful loyalty programs in the industry. The Caesars Rewards ecosystem ties together casinos, hotels, dining, entertainment, and now digital gaming, making it harder for frequent customers to switch to rivals. Its scale also helps with marketing, partnerships, and negotiating power. The main pressures come from intense competition in Las Vegas, regional casinos, and online betting, along with regulatory and tax environments that can change by jurisdiction. Still, its brand and loyalty network give it a meaningful edge versus many peers.

Innovation and R&D

Innovation and R&D Innovation at Caesars is focused less on traditional lab R&D and more on technology, data, and customer experience. The company is investing heavily in its sportsbook and online casino platforms, using data analytics and artificial intelligence to personalize offers and improve profitability. It is also modernizing its technology infrastructure, experimenting with new payment options, and developing exclusive online casino content. On the physical side, large renovation projects and new entertainment and dining concepts are meant to keep properties fresh and attract higher‑spending guests. These efforts are capital‑intensive but, if executed well, can deepen customer loyalty and support the shift toward higher‑margin digital revenue.

Summary

Caesars today is a large, diversified gaming and hospitality company that has largely repaired its operations since the pandemic and is leaning hard into digital betting and property upgrades. The income statement shows a business that is operationally profitable but still uneven in net earnings due to heavy interest costs and investment spending. The balance sheet is highly leveraged, which magnifies both upside in good times and downside risk in downturns. Cash flows are solid but being heavily reinvested, leaving less immediate room to reduce debt. Competitively, Caesars benefits from strong brands, top locations, and an exceptionally sticky loyalty program, all supported by growing digital capabilities. The key watch points are execution on its digital and renovation strategy, the ability to translate those investments into more stable profits, and the management of its sizable debt burden in a cyclical and regulated industry.

NEWS

November 20, 2025 · 10:20 PM UTC

Caesars Entertainment and Monmouth Park Unveil All-New Trackside Caesars Sportsbook

Read more

November 17, 2025 · 10:41 AM UTC

Missouri Sports Fans Can Now Register on the Caesars Sportsbook App

Read more

November 13, 2025 · 7:10 AM UTC

Hacksaw Gaming Celebrates New Launch in Pennsylvania on Caesars Entertainment's Online Casino Platforms

Read more

October 28, 2025 · 4:12 PM UTC

Caesars Entertainment, Inc. Reports Third Quarter 2025 Results

Read more

October 24, 2025 · 11:39 AM UTC

Caesars Entertainment and AGS Celebrate the Exclusive In-person and Online Launches of Kingdom of Horus and Reign of Anubis

Read more