Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2025

Revenue from Contract with Customer [Abstract]

Schedule of Net Revenues Disaggregated by Type of Revenue and Reportable Segment

The Company’s Statements of Operations present net revenue disaggregated by type or nature of the good or service. A summary of net revenues disaggregated by type of revenue and reportable segment is presented below. Refer to Note 12 for additional information on the Company’s reportable segments.


	Three Months Ended June 30, 2025
(In millions)	Las Vegas		Regional		Caesars Digital		Managed and Branded		Corporate and Other		Total
Casino	$	292	$	1,045	$	331	$	—	$	—	$	1,668
Food and beverage	278		150		—		—		—		428
Hotel	346		163		—		—		—		509
Other	138		77		12		74		1		302


Net revenues	$	1,054	$	1,435	$	343	$	74	$	1	$	2,907


	Three Months Ended June 30, 2024
(In millions)	Las Vegas		Regional		Caesars Digital		Managed and Branded		Corporate and Other		Total
Casino	$	296	$	1,017	$	246	$	—	$	(2)	$	1,557
Food and beverage	296		139		—		—		—		435
Hotel	357		157		—		—		—		514
Other	152		72		30		70		—		324
Net revenues	$	1,101	$	1,385	$	276	$	70	$	(2)	$	2,830


	Six Months Ended June 30, 2025
(In millions)	Las Vegas		Regional		Caesars Digital		Managed and Branded		Corporate and Other		Total
Casino	$	535	$	2,075	$	655	$	—	$	(3)	$	3,262
Food and beverage	564		299		—		—		—		863
Hotel	689		302		—		—		—		991
Other	269		147		23		141		5		585


Net revenues	$	2,057	$	2,823	$	678	$	141	$	2	$	5,701


	Six Months Ended June 30, 2024
(In millions)	Las Vegas		Regional		Caesars Digital		Managed and Branded		Corporate and Other		Total
Casino	$	535	$	2,048	$	512	$	—	$	(3)	$	3,092
Food and beverage	583		274		—		—		—		857
Hotel	719		288		—		—		—		1,007
Other	292		140		46		138		—		616
Net revenues	$	2,129	$	2,750	$	558	$	138	$	(3)	$	5,572

Schedule of Accounts Receivable, Net


Accounts Receivable, Net
(In millions)	June 30, 2025		December 31, 2024
Casino	$	179	$	206
Food and beverage and hotel	117		107
Other	191		157
Accounts receivable, net	$	487	$	470

Schedule of Activity Related to Contract and Contract-Related Liabilities

The following table summarizes the activity related to contract and contract related liabilities:


	Outstanding Chip Liability				Caesars Rewards				Customer Deposits and Other Deferred Revenue
(In millions)	2025		2024		2025		2024		2025		2024
Balance at January 1	$	47	$	42	$	79	$	86	$	549	$	693
Balance at June 30	39		41		86		86		586		659
Increase / (decrease)	$	(8)	$	(1)	$	7	$	—	$	37	$	(34)

Caesars Entertainment, Inc. 10-Q