Caesars Entertainment

Consumer Discretionary Casinos & Gaming Reno, Nevada Last filing Feb 25, 2025 · FY2024

                    Revenue
                    FY2024
                
$11.2B
                    3y CAGR +5.5%
                    
                    P40
                    
                    -2.5%
                    
                    Net income
                    FY2024
                
$-278.0M
                    Net margin -2.5%
                    
                    P2
                    
                    -135.4%
                    
                    Total assets
                    FY2024
                
$32.6B
                    ROA -0.9%
                    
                    P2
                    
                    -2.3%
                    
                    Operating cash flow
                    FY2024
                
$1.1B
                    FCF margin -2.0%
                    
                    P4
                    
                    -40.6%

13 yrs · FY2012–FY2024 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

34 accounts · 10 years

Total assets $32.6B

Total liabilities $28.2B

Shareholders equity $4.2B

Account	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Assets
Cash and Cash Equivalents	2.7%	3.0%	3.1%	2.8%	4.9%	3.7%	3.9%	3.8%	4.7%	5.9%
Accounts Receivable(net Casino&Other)	1.4%	1.8%	1.8%	1.2%	0.9%	1.0%	1.0%	1.3%	1.1%	0.8%
Inventory(net)	0.1%	0.1%	0.2%	0.1%	0.1%	0.3%	0.3%	0.5%	0.9%	0.9%
Total Current Assets	5.4%	6.1%	6.3%	15.7%	16.7%	10.7%	9.7%	7.1%	7.9%	8.8%
Property,Plant&Equipment(net)	45.4%	44.2%	43.5%	38.4%	40.5%	46.4%	48.8%	42.4%	47.3%	47.2%
Operating Lease Right of Use Asset(lessee)	1.9%	1.9%	1.9%	1.7%	1.3%	3.3%	—	—	—	—
Finance Lease Right of Use Asset(lessee)	0.2%	0.2%	0.2%	0.1%	0.2%	0.4%	—	—	—	—
Equity Method Investments	0.4%	0.5%	0.3%	0.4%	0.5%	2.4%	0.0%	0.0%	0.1%	0.1%
Goodwill	32.5%	32.9%	32.8%	29.1%	27.1%	16.1%	17.1%	21.1%	5.2%	5.0%
Other Intangible Assets(net)	2.6%	2.8%	3.2%	3.2%	1.4%	0.9%	1.4%	28.1%	37.7%	37.1%
Deferred Tax Assets	0.2%	0.1%	0.0%	20.0%	21.3%	0.0%	3.3%	2.8%	5.2%	6.0%
Other Noncurrent Assets	3.4%	2.5%	3.0%	3.4%	3.5%	4.7%	1.4%	1.4%	0.9%	0.5%
Total Assets	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Liabilities
Accounts Payable	0.9%	1.2%	0.9%	0.7%	0.5%	1.1%	1.0%	1.0%	1.7%	1.3%
Accrued Liabilities	5.0%	5.5%	5.8%	5.2%	3.5%	5.4%	1.7%	1.9%	2.4%	2.4%
Contract Liabilities/Customer Deposits	1.8%	2.2%	2.2%	1.6%	0.7%	0.6%	—	—	—	—
Short Term Debt&Current Portion of Ltd	0.3%	0.2%	0.3%	0.2%	0.2%	4.4%	0.0%	0.0%	0.4%	0.3%
Total Current Liabilities	7.0%	8.1%	8.0%	13.9%	6.9%	12.2%	6.8%	6.3%	8.2%	8.0%
Long Term Debt(noncurrent)	36.9%	36.6%	37.8%	36.1%	38.7%	41.2%	55.2%	61.7%	61.5%	65.0%
Operating Lease Liabilities(noncurrent Lessee)	2.2%	2.2%	2.1%	1.9%	1.4%	3.1%	—	—	—	—
Finance Lease Liabilities(noncurrent Lessee)	39.6%	38.2%	37.6%	32.7%	33.8%	17.2%	16.2%	—	—	—
Deferred Tax Liabilities	0.4%	0.3%	2.9%	2.9%	3.2%	3.5%	3.4%	4.6%	6.9%	5.9%
Unrecognized Tax Benefits(noncurrent)	0.4%	0.4%	0.4%	0.4%	0.4%	0.0%	0.0%	0.0%	0.0%	—
Other Noncurrent Liabilities	2.7%	2.6%	2.5%	2.5%	3.6%	6.1%	1.0%	0.8%	0.6%	0.6%
Total Liabilities	86.6%	85.9%	88.8%	88.1%	86.2%	80.2%	82.6%	73.4%	77.1%	79.6%
Equity
Preferred Stock	0.0%	0.0%	0.0%	0.0%	—	—	—	—	—	—
Common Stock	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	7.2%	15.0%	14.6%
Additional Paid In Capital	21.1%	21.0%	20.7%	18.1%	17.5%	13.5%	12.7%	21.1%	13.4%	12.9%
Retained Earnings/Accumulated Deficit	-8.6%	-7.6%	-9.9%	-6.3%	-3.8%	6.5%	4.9%	5.5%	9.4%	7.5%
Accumulated Other Comprehensive Income(loss)	0.3%	0.3%	0.3%	0.1%	0.1%	0.0%	0.0%	0.0%	0.0%	0.0%
Treasury Stock	0.0%	0.0%	0.0%	0.1%	0.0%	0.2%	0.2%	—	—	—
Noncontrolling Interest(equity Section)	0.7%	0.5%	0.1%	0.2%	0.0%	0.0%	—	—	—	—
Total Stockholders' Equity	12.8%	13.6%	11.1%	11.8%	13.8%	19.8%	17.4%	26.6%	22.9%	20.3%
Total Liabilities and Stockholders' Equity	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

24 accounts · 10 years

Revenue $11.2B

Operating income $2.3B

Net income $-278.0M

Account	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IncomeStatement
Revenues Total net Revenue	34.5%	34.6%	32.3%	25.2%	10.0%	44.8%	34.8%	41.5%	69.0%	54.3%
Costs and Expenses Total Operating Costs&Expenses	27.4%	27.1%	27.1%	21.3%	11.0%	37.5%	29.5%	37.0%	62.0%	49.3%
Costs and Expenses Selling,General and Administrative Expense(sg&a)	5.9%	6.0%	6.2%	4.7%	2.5%	8.9%	6.4%	6.8%	10.1%	7.3%
Costs and Expenses Depreciation and Amortization	4.1%	3.8%	3.6%	3.0%	1.6%	3.9%	2.7%	3.0%	4.9%	4.3%
Costs and Expenses Impairment&Restructuring Charges	0.9%	0.3%	0.3%	0.3%	0.6%	0.0%	0.2%	1.1%	0.0%	0.0%
Operating Income Operating Income(loss)	7.1%	7.4%	5.2%	3.8%	-1.1%	7.3%	5.2%	2.7%	6.9%	5.5%
Non Operating Income Expense Interest Expense,Net	7.5%	7.2%	6.9%	6.1%	3.3%	5.1%	2.9%	2.8%	3.9%	4.6%
Non Operating Income Expense Interest Income	0.0%	0.0%	0.0%	0.0%	0.0%	—	—	—	—	—
Non Operating Income Expense Other Non Operating Income(expense)	0.1%	0.0%	0.1%	-0.5%	0.5%	0.2%	-0.1%	-3.9%	-3.9%	-2.1%
Income Before Tax Income Before Income Taxes(continuing Operations)	-0.4%	-0.2%	-1.7%	-3.3%	-4.4%	2.2%	2.3%	-1.2%	2.9%	3.4%
Income Tax Income Tax Expense(benefit)	0.3%	-2.7%	-0.1%	-0.7%	0.4%	0.8%	0.7%	-3.3%	1.0%	-5.2%
Income From Continuing Operations	-0.9%	2.4%	-1.5%	-2.6%	-4.8%	1.4%	1.6%	—	—	8.6%
Income From Discontinued Operations	0.0%	0.0%	-1.2%	-0.1%	-0.1%	0.0%	0.0%	—	—	—
net Income net Income(loss)	-0.9%	2.4%	-2.7%	-2.7%	-4.8%	1.4%	1.6%	2.1%	1.9%	8.6%
net Income net Income(loss)Attributable To Noncontrolling Interest	0.2%	0.1%	-0.0%	0.0%	-0.0%	0.0%	0.0%	—	—	—
Earnings Per Share Basic Eps(continuing Operations)	-0.0%	0.0%	-0.0%	-0.0%	-0.0%	0.0%	—	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps(continuing Operations)	-0.0%	0.0%	-0.0%	-0.0%	-0.0%	0.0%	—	—	—	—
Earnings Per Share Basic Eps(net Income)	-0.0%	0.0%	-0.0%	-0.0%	-0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps(net Income)	-0.0%	0.0%	-0.0%	-0.0%	-0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	0.7%	0.6%	0.6%	0.6%	0.4%	1.4%	1.3%	1.9%	3.6%	3.5%
Earnings Per Share Weighted Average Shares Diluted	0.7%	0.6%	0.6%	0.6%	0.4%	1.4%	1.3%	1.9%	3.7%	3.5%
Comprehensive Income Other Comprehensive Income(loss),Net of Tax	-0.0%	0.0%	0.2%	0.0%	0.1%	0.0%	0.0%	0.0%	—	-0.0%
Comprehensive Income Comprehensive Income(loss),Net of Tax	-0.9%	2.4%	-2.5%	-2.7%	-4.7%	1.4%	1.6%	2.1%	1.9%	8.6%
Comprehensive Income Comprehensive Income Attributable To Noncontrolling Interest	0.2%	0.1%	-0.0%	0.0%	0.0%	0.0%	0.0%	—	—	—

Cash Flow Statement

Operating, investing, and financing flows

27 accounts · 10 years

Operating cash flow $1.1B

Investing cash flow $-704.0M

Financing cash flow $-498.0M

Account	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CashFlow
Operating Activities net Income	-0.9%	2.4%	-2.7%	-2.7%	-4.8%	1.4%	1.6%	2.1%	1.9%	8.6%
Operating Activities Depreciation and Amortization	4.1%	3.8%	3.6%	3.0%	1.6%	3.9%	2.7%	3.0%	4.9%	4.3%
Operating Activities Share Based Compensation	0.3%	0.3%	0.3%	0.2%	0.2%	0.4%	0.2%	0.2%	0.3%	0.1%
Operating Activities Provision For Doubtful Accounts	0.2%	0.1%	0.1%	0.1%	0.1%	0.0%	0.0%	0.0%	0.0%	-0.0%
Operating Activities Impairment Charges&Restructuring	0.9%	0.3%	0.3%	0.3%	0.6%	0.0%	0.2%	1.1%	0.0%	0.0%
Operating Activities Gain(loss)On Sale of Assets/Investments/Debt Extinguishment	-0.3%	-0.6%	-0.3%	-0.6%	-0.5%	0.9%	-0.0%	-0.0%	-0.1%	-0.0%
Operating Activities Other Non Cash Items	0.1%	0.1%	0.2%	0.0%	0.0%	-0.1%	0.0%	-0.0%	-0.1%	—
Operating Activities Increase/decrease In Accounts Receivable	-0.3%	0.2%	0.4%	0.4%	0.2%	-0.1%	-0.1%	0.5%	0.4%	-0.2%
Operating Activities Increase/decrease In Other Operating Assets	0.0%	-0.1%	0.0%	0.2%	-0.0%	-0.2%	0.0%	0.0%	0.1%	-0.2%
Operating Activities Increase/decrease In Accounts Payable&Accrued Liabilities	-1.5%	0.0%	-0.2%	1.3%	0.1%	0.5%	-0.3%	-0.2%	-0.5%	0.4%
Operating Activities net Cash From Operating Activities	3.3%	5.4%	3.0%	3.2%	-1.5%	5.5%	5.5%	3.7%	7.4%	4.2%
Investing Activities Capital Expenditures(pp&e)	4.0%	3.8%	2.8%	1.4%	0.5%	3.0%	2.5%	2.3%	3.3%	2.8%
Investing Activities Acquisitions/Divestitures	0.0%	0.1%	0.0%	0.9%	17.6%	0.0%	0.0%	37.0%	—	0.1%
Investing Activities Other Investing Activities	0.0%	-0.1%	0.0%	0.0%	-0.0%	0.0%	0.0%	—	—	—
Investing Activities net Cash From Investing Activities	-2.2%	-3.8%	-2.3%	-3.8%	-16.8%	6.6%	-21.5%	-39.4%	-3.2%	-12.2%
Financing Activities Proceeds From Debt	23.1%	16.4%	4.5%	3.4%	26.8%	0.6%	19.6%	5.9%	5.6%	32.1%
Financing Activities Repayment of Debt	23.5%	0.0%	0.0%	1.0%	2.5%	0.0%	0.0%	25.7%	0.3%	55.0%
Financing Activities Proceeds From Issuance of Stock	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.1%	0.0%	-0.2%
Financing Activities Repurchase of Stock	0.6%	0.0%	0.0%	—	0.0%	0.0%	0.2%	—	—	—
Financing Activities Payments Related To Tax Withholding For Share Based Comp	0.1%	0.1%	0.1%	0.1%	0.0%	0.1%	0.2%	0.3%	0.1%	—
Financing Activities Payments/proceeds Related To Noncontrolling Interests	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	—	—	—	—
Financing Activities net Cash From Financing Activities	-1.5%	-2.1%	-3.8%	-3.0%	29.2%	-12.6%	17.7%	38.1%	-5.7%	7.0%
Cash Reconciliation Effect of Exchange Rate On Cash	0.0%	0.0%	-0.1%	0.1%	0.4%	0.0%	0.0%	—	—	—
Cash Reconciliation net Change In Cash	-0.4%	-0.5%	-2.1%	-5.9%	11.2%	-0.5%	1.7%	2.4%	-1.6%	-0.9%
Supplemental Disclosures Income Taxes Paid	0.1%	0.1%	0.1%	0.0%	-0.0%	0.9%	-0.1%	0.0%	-0.1%	—
Supplemental Disclosures Interest Paid	3.2%	2.5%	2.4%	2.2%	2.5%	4.9%	2.8%	2.4%	3.7%	5.9%
Supplemental Disclosures Non Cash Investing&Financing Activities	0.0%	0.1%	0.1%	0.0%	0.1%	0.0%	—	—	—	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Profitability
Gross margin	—	—	—	—	—	—	—	—	—	—
Operating margin	+20.5%	+21.4%	+16.1%	+15.3%	-10.6%	+16.2%	+15.1%	+6.4%	+9.9%	+10.1%
Net margin	-2.5%	+6.8%	-8.3%	-10.6%	-48.4%	+3.2%	+4.6%	+5.0%	+2.7%	+15.9%
FCF margin	-2.0%	+4.7%	+0.4%	+7.1%	-20.0%	+5.6%	+8.6%	+3.2%	+5.8%	+2.7%
Growth
Revenue CAGR (3y)	+5.5%	+47.0%	+62.4%	+67.0%	+35.0%	+41.5%	+41.9%	+59.7%	+53.4%	+34.4%
Returns
ROE	-6.7%	+17.3%	-24.2%	-22.7%	-35.0%	+7.3%	+9.2%	+7.8%	+8.3%	+42.6%
ROA	-0.9%	+2.4%	-2.7%	-2.7%	-4.8%	+1.4%	+1.6%	+2.1%	+1.9%	+8.6%
ROIC	+14.9%	+15.6%	+11.3%	+8.5%	-2.2%	+7.6%	+5.4%	+3.2%	+5.6%	+6.9%
Liquidity
Current ratio	0.77x	0.76x	0.79x	1.13x	2.41x	0.88x	1.43x	1.12x	0.96x	1.10x
Quick ratio	—	—	—	—	—	—	—	—	—	—
Leverage
D/E	6.79x	6.29x	8.02x	7.48x	6.25x	4.05x	4.74x	2.77x	3.37x	3.93x
Interest coverage	—	—	—	—	—	—	—	—	—	—
Efficiency
Asset turnover	0.35x	0.35x	0.32x	0.25x	0.10x	0.45x	0.35x	0.42x	0.69x	0.54x
Cash conversion cycle	—	—	—	—	—	—	—	—	—	—

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