CZR

EX-99.1

2 ex991-2026q3ceiearningsrel.htm

EX-99.1

Document

Exhibit 99.1

Caesars Entertainment, Inc. Reports Third Quarter 2026 Results

LAS VEGAS and RENO, Nev. (October 27, 2026) – Caesars Entertainment, Inc., (NASDAQ: CZR) (“Caesars,” “CZR,” “CEI” or the “Company”) today reported operating results for the third quarter ended September 30, 2026.

Third Quarter 2026 and Recent Highlights:

•GAAP net revenues of $2.9 billion versus $2.9 billion for the comparable prior-year period.

•GAAP net loss attributable to Caesars of $123 million compared to a net loss attributable to Caesars of $55 million for the comparable prior-year period.

•Consolidated Adjusted EBITDA of $865 million versus $884 million for the comparable prior-year period.

•Caesars Digital Adjusted EBITDA of $44 million versus $28 million for the comparable prior-year period.

Third Quarter 2026 Financial Results Summary and Segment Information

Net Revenues

Three Months Ended September 30,

(In millions)20262025% Change

Las Vegas $930 $952 (2.3)%

Regional1,627 1,536 5.9 %

Caesars Digital326 311 4.8 %

Managed and Branded58 73 (20.5)%

Corporate and Other(1)(3)66.7 %

Caesars$2,940 $2,869 2.5 %

Net Revenues

Nine Months Ended September 30,

(In millions)20262025% Change

Las Vegas $2,950 $3,009 (2.0)%

Regional4,627 4,359 6.1 %

Caesars Digital1,051 989 6.3 %

Managed and Branded181 214 (15.4)%

Corporate and Other(6)(1)*

Caesars$8,803 $8,570 2.7 %

1

Net Income (Loss) Attributable to Caesars

Three Months Ended September 30,

(In millions)20262025% Change

Las Vegas $79 $132 (40.2)%

Regional66 56 17.9 %

Caesars Digital4 (21)*

Managed and Branded16 18 (11.1)%

Corporate and Other(288)(240)(20.0)%

Caesars$(123)$(55)(123.6)%

Net Income (Loss) Attributable to Caesars

Nine Months Ended September 30,

(In millions)20262025% Change

Las Vegas $411 $521 (21.1)%

Regional69 65 6.2 %

Caesars Digital53 18 194.4 %

Managed and Branded57 52 9.6 %

Corporate and Other(873)(908)3.9 %

Caesars$(283)$(252)(12.3)%

Adjusted EBITDA (a)

Three Months Ended September 30,

(In millions)20262025% Change

Las Vegas $343 $379 (9.5)%

Regional524 506 3.6 %

Caesars Digital44 28 57.1 %

Managed and Branded17 18 (5.6)%

Corporate and Other(63)(47)(34.0)%

Caesars$865 $884 (2.1)%

Adjusted EBITDA (a)

Nine Months Ended September 30,

(In millions)20262025% Change

Las Vegas $1,179 $1,281 (8.0)%

Regional1,447 1,385 4.5 %

Caesars Digital181 151 19.9 %

Managed and Branded46 51 (9.8)%

Corporate and Other(181)(145)(24.8)%

Caesars$2,672 $2,723 (1.9)%

*Not meaningful

(a)Adjusted EBITDA is not a GAAP measurement and is presented solely as a supplemental disclosure because the Company believes it is a widely used measure of operating performance in the gaming industry. See “Non-GAAP Measures” below for a definition of Adjusted EBITDA and “Reconciliation of Net Income (Loss) Attributable to Caesars to Adjusted EBITDA” below for a quantitative reconciliation of Adjusted EBITDA to net income (loss) attributable to Caesars, which the Company believes is the most directly comparable financial measure calculated in accordance with GAAP.

2

Balance Sheet and Liquidity

As of September 30, 2026, Caesars had $11.7 billion in aggregate principal amount of debt outstanding. Total cash and cash equivalents were $864 million, excluding restricted cash of $113 million.

(In millions)September 30, 2026December 31, 2025

Cash and cash equivalents$864 $887

Bank debt and loans $5,820 $6,063

Notes 5,800 5,800

Other long-term debt39 42

Total outstanding indebtedness$11,659 $11,905

Net debt (a) $10,795 $11,018

(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.

As of September 30, 2026, cash on hand and borrowing capacity was as follows:

(In millions)September 30, 2026

Cash and cash equivalents$864

CEI Revolving Credit Facility capacity2,250

CVA Revolving Credit Facility capacity25

Revolver capacity committed to letters of credit(96)

Revolver capacity committed to specific reserves(40)

Available revolver capacity committed as regulatory requirement(56)

Total$2,947

Non-GAAP Measures

Adjusted EBITDA (described below), a non-GAAP financial measure, has been presented as a supplemental disclosure because it is a widely used measure of performance and basis for valuation of companies in our industry and we believe that this non-GAAP supplemental information will be helpful in understanding our ongoing operating results. Management has historically used Adjusted EBITDA when evaluating operating performance because we believe that the inclusion or exclusion of certain recurring and non-recurring items is necessary to provide a full understanding of our core operating results and as a means to evaluate period-to-period res

EX-99.1

2 ex991-2026q2ceiearningsrel.htm

EX-99.1

Document

Exhibit 99.1

Caesars Entertainment, Inc. Reports Second Quarter 2026 Results

LAS VEGAS and RENO, Nev. (July 28, 2026) – Caesars Entertainment, Inc., (NASDAQ: CZR) (“Caesars,” “CZR,” “CEI” or the “Company”) today reported operating results for the second quarter ended June 30, 2026.

Second Quarter 2026 and Recent Highlights:

•GAAP net revenues of $3.0 billion versus $2.9 billion for the comparable prior-year period.

•GAAP net loss of $62 million compared to a net loss of $82 million for the comparable prior-year period.

•Consolidated Adjusted EBITDA of $920 million versus $955 million for the comparable prior-year period.

•Caesars Digital Adjusted EBITDA of $68 million versus $80 million for the comparable prior-year period.

Second Quarter 2026 Financial Results Summary and Segment Information

Net Revenues

Three Months Ended June 30,

(In millions)20262025% Change

Las Vegas $1,017 $1,054 (3.5)%

Regional1,570 1,435 9.4 %

Caesars Digital351 343 2.3 %

Managed and Branded57 74 (23.0)%

Corporate and Other(2)1 *

Caesars$2,993 $2,907 3.0 %

Net Revenues

Six Months Ended June 30,

(In millions)20262025% Change

Las Vegas $2,020 $2,057 (1.8)%

Regional3,000 2,823 6.3 %

Caesars Digital725 678 6.9 %

Managed and Branded123 141 (12.8)%

Corporate and Other(5)2 *

Caesars$5,863 $5,701 2.8 %

Net Income (Loss) Attributable to Caesars

Three Months Ended June 30,

(In millions)20262025% Change

Las Vegas $156 $212 (26.4)%

Regional23 (11)*

Caesars Digital27 39 (30.8)%

Managed and Branded17 18 (5.6)%

Corporate and Other(285)(340)16.2 %

Caesars$(62)$(82)24.4 %

1

Net Income (Loss) Attributable to Caesars

Six Months Ended June 30,

(In millions)20262025% Change

Las Vegas $332 $389 (14.7)%

Regional3 9 (66.7)%

Caesars Digital49 39 25.6 %

Managed and Branded41 34 20.6 %

Corporate and Other(585)(668)12.4 %

Caesars$(160)$(197)18.8 %

Adjusted EBITDA (a)

Three Months Ended June 30,

(In millions)20262025% Change

Las Vegas $410 $469 (12.6)%

Regional488 439 11.2 %

Caesars Digital68 80 (15.0)%

Managed and Branded16 17 (5.9)%

Corporate and Other(62)(50)(24.0)%

Caesars$920 $955 (3.7)%

Adjusted EBITDA (a)

Six Months Ended June 30,

(In millions)20262025% Change

Las Vegas $836 $902 (7.3)%

Regional923 879 5.0 %

Caesars Digital137 123 11.4 %

Managed and Branded29 33 (12.1)%

Corporate and Other(118)(98)(20.4)%

Caesars$1,807 $1,839 (1.7)%

*Not meaningful

(a)Adjusted EBITDA is not a GAAP measurement and is presented solely as a supplemental disclosure because the Company believes it is a widely used measure of operating performance in the gaming industry. See “Reconciliation of GAAP Measures to Non-GAAP Measures” below for a definition of Adjusted EBITDA and a quantitative reconciliation of Adjusted EBITDA to net income (loss) attributable to Caesars, which the Company believes is the most comparable financial measure calculated in accordance with GAAP.

Balance Sheet and Liquidity

As of June 30, 2026, Caesars had $11.8 billion in aggregate principal amount of debt outstanding. Total cash and cash equivalents were $965 million, excluding restricted cash of $112 million.

(In millions)June 30, 2026December 31, 2025

Cash and cash equivalents$965 $887

Bank debt and loans $5,968 $6,063

Notes 5,800 5,800

Other long-term debt39 42

Total outstanding indebtedness$11,807 $11,905

Net debt (a) $10,842 $11,018

(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.

2

As of June 30, 2026, cash on hand and borrowing capacity was as follows:

(In millions)June 30, 2026

Cash and cash equivalents$965

CEI Revolving Credit Facility capacity, net of outstanding balance2,130

CVA Revolving Credit Facility capacity25

Revolver capacity committed to letters of credit(96)

Revolver capacity committed to specific reserves(40)

Available revolver capacity committed as regulatory requirement(56)

Total$2,928

Non-GAAP Measures

Adjusted EBITDA (described below), a non-GAAP financial measure, has been presented as a supplemental disclosure because it is a widely used measure of performance and basis for valuation of companies in our industry and we believe that this non-GAAP supplemental information will be helpful in understanding our ongoing operating results. Management has historically used Adjusted EBITDA when evaluating operating performance because we believe that the inclusion or exclusion of certain recurring and non-recurring items is necessary to provide a full understanding of our core operating results and as a means to evaluate period-to-period results. Adjusted EBITDA represents, as applicable, net income (loss) before interest income and interest expense, net of interest capitalized, (benefit) prov

EX-99.1

2 ex991-2026q1ceiearningsrel.htm

EX-99.1

Document

Exhibit 99.1

Caesars Entertainment, Inc. Reports First Quarter 2026 Results

LAS VEGAS and RENO, Nev. (April 28, 2026) – Caesars Entertainment, Inc., (NASDAQ: CZR) (“Caesars,” “CZR,” “CEI” or the “Company”) today reported operating results for the first quarter ended March 31, 2026.

First Quarter 2026 and Recent Highlights:

•GAAP net revenues of $2.9 billion versus $2.8 billion for the comparable prior-year period.

•GAAP net loss of $98 million compared to a net loss of $115 million for the comparable prior-year period.

•Consolidated Adjusted EBITDA of $887 million versus $884 million for the comparable prior-year period.

•Caesars Digital Adjusted EBITDA of $69 million versus $43 million for the comparable prior-year period.

Tom Reeg, Chief Executive Officer of Caesars Entertainment, Inc., commented, “In the first quarter of 2026 we delivered growth in total net revenues and adjusted EBITDA versus last year. Caesars Digital revenue of $374 million and Adjusted EBITDA of $69 million achieved record first quarter results. In our Las Vegas segment, we experienced continued sequential improvement in trends and a significant improvement in the hospitality vertical with occupancy of 95.3% and year over year growth in Average Daily Rate. The Regional segment delivered improved adjusted EBITDA on a year over year basis after excluding the benefits of Super Bowl LX in New Orleans last year.”

First Quarter 2026 Financial Results Summary and Segment Information

Net Revenues

Three Months Ended March 31,

(In millions)20262025% Change

Las Vegas $1,003 $1,003 — %

Regional1,430 1,388 3.0 %

Caesars Digital374 335 11.6 %

Managed and Branded66 67 (1.5)%

Corporate and Other(3)1 *

Caesars$2,870 $2,794 2.7 %

Net Income (Loss) Attributable to Caesars

Three Months Ended March 31,

(In millions)20262025% Change

Las Vegas $176 $177 (0.6)%

Regional(20)20 *

Caesars Digital22 — *

Managed and Branded24 16 50.0 %

Corporate and Other(300)(328)8.5 %

Caesars$(98)$(115)14.8 %

1

Adjusted EBITDA (a)

Three Months Ended March 31,

(In millions)20262025% Change

Las Vegas $426 $433 (1.6)%

Regional435 440 (1.1)%

Caesars Digital69 43 60.5 %

Managed and Branded13 16 (18.8)%

Corporate and Other(56)(48)(16.7)%

Caesars$887 $884 0.3 %

*Not meaningful

(a)Adjusted EBITDA is not a GAAP measurement and is presented solely as a supplemental disclosure because the Company believes it is a widely used measure of operating performance in the gaming industry. See “Reconciliation of GAAP Measures to Non-GAAP Measures” below for a definition of Adjusted EBITDA and a quantitative reconciliation of Adjusted EBITDA to net income (loss) attributable to Caesars, which the Company believes is the most comparable financial measure calculated in accordance with GAAP.

Balance Sheet and Liquidity

As of March 31, 2026, Caesars had $11.9 billion in aggregate principal amount of debt outstanding. Total cash and cash equivalents were $867 million, excluding restricted cash of $107 million.

(In millions)March 31, 2026December 31, 2025

Cash and cash equivalents$867 $887

Bank debt and loans $6,076 $6,063

Notes 5,800 5,800

Other long-term debt41 42

Total outstanding indebtedness$11,917 $11,905

Net debt (a) $11,050 $11,018

(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.

As of March 31, 2026, cash on hand and borrowing capacity was as follows:

(In millions)March 31, 2026

Cash and cash equivalents$867

CEI Revolving Credit Facility capacity, net of outstanding balance2,050

CVA Revolving Credit Facility capacity25

Revolver capacity committed to letters of credit(96)

Revolver capacity committed to specific reserves(40)

Available revolver capacity committed as regulatory requirement(46)

Total$2,760

“On March 3, 2026, Caesars acquired the operations of Caesars Windsor for approximately $54 million and entered into a 20-year operating agreement with the Ontario Lottery and Gaming Corporation. We are excited to add Caesars Windsor to our Regional portfolio. Our first quarter consolidated results demonstrate the stability of our Las Vegas and Regional segments and the continued growth in Caesars Digital. We expect to deliver strong free cash flow in 2026 as a result of continued operating momentum, lower cash interest expense, and lower capex,” said Bret Yunker, Chief Financial Officer.

2

Non-GAAP Measures

Adjusted EBITDA (described below), a non-GAAP financial measure, has been presented as a supplemental disclosure because it is a widely used measure of performance and basis for valuation of companies in our industry and we believe that this non-GAAP supplemental information will be helpful in understanding our ongoing operat