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

Balance Sheet

Assets, liabilities, and equity

34 accounts · 5 years

Total assets $32.6B

Total liabilities $28.2B

Shareholders equity $4.2B

Account	2024	2023	2022	2021	2020
Assets
Cash and Cash Equivalents	$866.0M -13.8%	$1.0B -3.2%	$1.0B -3.0%	$1.1B -39.8%	$1.8B
Accounts Receivable(net Casino&Other)	$470.0M -22.7%	$608.0M -0.5%	$611.0M 29.4%	$472.0M 38.0%	$342.0M
Inventory(net)	$45.0M -2.2%	$46.0M -22.0%	$59.0M 40.5%	$42.0M -4.5%	$44.0M
Total Current Assets	$1.7B -14.6%	$2.0B -2.7%	$2.1B -64.8%	$6.0B -1.6%	$6.1B
Property,Plant&Equipment(net)	$14.8B 0.4%	$14.8B 1.1%	$14.6B 0.0%	$14.6B -0.9%	$14.7B
Operating Lease Right of Use Asset(lessee)	$604.0M -2.9%	$622.0M -2.7%	$639.0M -3.5%	$662.0M 44.9%	$457.0M
Finance Lease Right of Use Asset(lessee)	$60.0M -13.0%	$69.0M -5.5%	$73.0M 82.5%	$40.0M -37.5%	$64.0M
Equity Method Investments	$131.0M -16.6%	$157.0M 67.0%	$94.0M -40.5%	$158.0M -8.7%	$173.0M
Goodwill	$10.6B -3.5%	$11.0B -0.1%	$11.0B -0.7%	$11.1B 12.3%	$9.9B
Other Intangible Assets(net)	$856.0M -9.5%	$946.0M -10.8%	$1.1B -12.3%	$1.2B 141.3%	$501.0M
Deferred Tax Assets	$62.0M 31.9%	$47.0M	$0 -100.0%	$7.6B -1.7%	$7.7B
Other Noncurrent Assets	$1.1B 30.2%	$848.0M -16.5%	$1.0B -22.6%	$1.3B 3.6%	$1.3B
Total Assets	$32.6B -2.3%	$33.4B -0.5%	$33.5B -11.8%	$38.0B 4.5%	$36.4B
Liabilities
Accounts Payable	$296.0M -27.5%	$408.0M 29.9%	$314.0M 23.6%	$254.0M 52.1%	$167.0M
Accrued Liabilities	$1.6B -12.1%	$1.8B -4.1%	$1.9B -2.3%	$2.0B 56.2%	$1.3B
Contract Liabilities/Customer Deposits	$592.0M -21.0%	$749.0M 0.3%	$747.0M 21.7%	$614.0M 144.6%	$251.0M
Short Term Debt&Current Portion of Ltd	$109.0M 67.7%	$65.0M -39.8%	$108.0M 54.3%	$70.0M 4.5%	$67.0M
Total Current Liabilities	$2.3B -15.5%	$2.7B 0.8%	$2.7B -49.6%	$5.3B 110.8%	$2.5B
Long Term Debt(noncurrent)	$12.0B -1.6%	$12.2B -3.4%	$12.7B -7.7%	$13.7B -2.5%	$14.1B
Operating Lease Liabilities(noncurrent Lessee)	$716.0M -1.6%	$728.0M 2.5%	$710.0M -2.2%	$726.0M 40.7%	$516.0M
Finance Lease Liabilities(noncurrent Lessee)	$12.9B 1.1%	$12.8B 1.2%	$12.6B 1.5%	$12.4B 1.0%	$12.3B
Deferred Tax Liabilities	$130.0M 27.5%	$102.0M -89.7%	$987.0M -11.2%	$1.1B -4.7%	$1.2B
Unrecognized Tax Benefits(noncurrent)	$116.0M -6.5%	$124.0M -3.1%	$128.0M -18.5%	$157.0M 14.6%	$137.0M
Other Noncurrent Liabilities	$880.0M 1.0%	$871.0M 2.2%	$852.0M -9.0%	$936.0M -28.2%	$1.3B
Total Liabilities	$28.2B -1.5%	$28.6B -3.8%	$29.8B -11.1%	$33.5B 6.8%	$31.4B
Equity
Preferred Stock	$0	$0	$0	$0	—
Common Stock	$0	$0	$0	$0	$0
Additional Paid In Capital	$6.9B -2.0%	$7.0B 0.7%	$7.0B 1.1%	$6.9B 7.8%	$6.4B
Retained Earnings/Accumulated Deficit	$-2.8B -11.0%	$-2.5B 23.8%	$-3.3B -37.3%	$-2.4B -73.3%	$-1.4B
Accumulated Other Comprehensive Income(loss)	$96.0M -1.0%	$97.0M 5.4%	$92.0M 155.6%	$36.0M 5.9%	$34.0M
Treasury Stock	$0 -100.0%	$363.0K 0.0%	$363.0K -98.4%	$23.0M 155.6%	$9.0M
Noncontrolling Interest(equity Section)	$219.0M 30.4%	$168.0M 342.1%	$38.0M -37.7%	$61.0M 238.9%	$18.0M
Total Stockholders' Equity	$4.2B -8.7%	$4.6B 22.6%	$3.7B -17.1%	$4.5B -10.7%	$5.0B
Total Liabilities and Stockholders' Equity	$32.6B -2.3%	$33.4B -0.5%	$33.5B -11.8%	$38.0B 4.5%	$36.4B

Income Statement

Revenue, expense, and profitability

24 accounts · 5 years

Revenue $11.2B

Operating income $2.3B

Net income $-278.0M

Account	2024	2023	2022	2021	2020
IncomeStatement
Revenues Total net Revenue	$11.2B -2.5%	$11.5B 6.5%	$10.8B 13.1%	$9.6B 163.8%	$3.6B
Costs and Expenses Total Operating Costs&Expenses	$8.9B -1.3%	$9.1B -0.3%	$9.1B 12.0%	$8.1B 102.2%	$4.0B
Costs and Expenses Selling,General and Administrative Expense(sg&a)	$1.9B -4.6%	$2.0B -2.7%	$2.1B 16.0%	$1.8B 97.6%	$902.0M
Costs and Expenses Depreciation and Amortization	$1.3B 5.0%	$1.3B 4.6%	$1.2B 7.0%	$1.1B 93.1%	$583.0M
Costs and Expenses Impairment&Restructuring Charges	$302.0M 217.9%	$95.0M -12.0%	$108.0M 5.9%	$102.0M -52.6%	$215.0M
Operating Income Operating Income(loss)	$2.3B -6.8%	$2.5B 42.2%	$1.7B 19.1%	$1.5B 481.2%	$-383.0M
Non Operating Income Expense Interest Expense,Net	$2.4B 1.8%	$2.4B 4.0%	$2.3B -0.7%	$2.3B 91.3%	$1.2B
Non Operating Income Expense Interest Income	$11.0M -8.3%	$12.0M 0.0%	$12.0M -25.0%	$16.0M 60.0%	$10.0M
Non Operating Income Expense Other Non Operating Income(expense)	$27.0M 170.0%	$10.0M -78.3%	$46.0M 123.2%	$-198.0M -212.5%	$176.0M
Income Before Tax Income Before Income Taxes(continuing Operations)	$-124.0M -106.7%	$-60.0M 89.4%	$-565.0M 55.5%	$-1.3B 21.0%	$-1.6B
Income Tax Income Tax Expense(benefit)	$87.0M 109.8%	$-888.0M -2065.9%	$-41.0M 85.5%	$-283.0M -314.4%	$132.0M
Income From Continuing Operations	$-278.0M -135.4%	$786.0M 253.2%	$-513.0M 48.1%	$-989.0M 43.1%	$-1.7B
Income From Discontinued Operations	$0	$0 100.0%	$-386.0M -1186.7%	$-30.0M -50.0%	$-20.0M
net Income net Income(loss)	$-278.0M -135.4%	$786.0M 187.4%	$-899.0M 11.8%	$-1.0B 42.0%	$-1.8B
net Income net Income(loss)Attributable To Noncontrolling Interest	$67.0M 59.5%	$42.0M 481.8%	$-11.0M -466.7%	$3.0M 400.0%	$-1.0M
Earnings Per Share Basic Eps(continuing Operations)	$-1 -135.3%	$4 252.7%	$-2 49.0%	$-5 64.9%	$-13
Earnings Per Share Diluted Eps(continuing Operations)	$-1 -135.4%	$4 252.3%	$-2 49.0%	$-5 64.9%	$-13
Earnings Per Share Basic Eps(net Income)	$-1 -135.3%	$4 187.1%	$-4 13.3%	$-5 64.2%	$-14
Earnings Per Share Diluted Eps(net Income)	$-1 -135.4%	$4 186.9%	$-4 13.3%	$-5 64.2%	$-14
Earnings Per Share Weighted Average Shares Basic	$215.0M 0.0%	$215.0M 0.5%	$214.0M 1.4%	$211.0M 62.3%	$130.0M
Earnings Per Share Weighted Average Shares Diluted	$215.0M -0.5%	$216.0M 0.9%	$214.0M 1.4%	$211.0M 62.3%	$130.0M
Comprehensive Income Other Comprehensive Income(loss),Net of Tax	$-1.0M -120.0%	$5.0M -90.9%	$55.0M 5400.0%	$1.0M -97.1%	$35.0M
Comprehensive Income Comprehensive Income(loss),Net of Tax	$-279.0M -135.3%	$791.0M 193.8%	$-843.0M 17.1%	$-1.0B 41.0%	$-1.7B
Comprehensive Income Comprehensive Income Attributable To Noncontrolling Interest	$67.0M 59.5%	$42.0M 450.0%	$-12.0M -700.0%	$2.0M	$0

Cash Flow Statement

Operating, investing, and financing flows

27 accounts · 5 years

Operating cash flow $1.1B

Investing cash flow $-704.0M

Financing cash flow $-498.0M

Account	2024	2023	2022	2021	2020
CashFlow
Operating Activities net Income	$-278.0M -135.4%	$786.0M 187.4%	$-899.0M 11.8%	$-1.0B 42.0%	$-1.8B
Operating Activities Depreciation and Amortization	$1.3B 5.0%	$1.3B 4.6%	$1.2B 7.0%	$1.1B 93.1%	$583.0M
Operating Activities Share Based Compensation	$94.0M -9.6%	$104.0M 3.0%	$101.0M 23.2%	$82.0M 3.8%	$79.0M
Operating Activities Provision For Doubtful Accounts	$49.0M 19.5%	$41.0M 64.0%	$25.0M -3.8%	$26.0M -10.3%	$29.0M
Operating Activities Impairment Charges&Restructuring	$302.0M 217.9%	$95.0M -12.0%	$108.0M 5.9%	$102.0M -52.6%	$215.0M
Operating Activities Gain(loss)On Sale of Assets/Investments/Debt Extinguishment	$-89.0M 55.5%	$-200.0M -135.3%	$-85.0M 64.0%	$-236.0M -19.8%	$-197.0M
Operating Activities Other Non Cash Items	$23.0M -42.5%	$40.0M -29.8%	$57.0M 612.5%	$8.0M 300.0%	$2.0M
Operating Activities Increase/decrease In Accounts Receivable	$-86.0M -204.9%	$82.0M -42.7%	$143.0M 5.9%	$135.0M 92.9%	$70.0M
Operating Activities Increase/decrease In Other Operating Assets	$13.0M 133.3%	$-39.0M -360.0%	$15.0M -77.6%	$67.0M 844.4%	$-9.0M
Operating Activities Increase/decrease In Accounts Payable&Accrued Liabilities	$-500.0M -5100.0%	$10.0M 112.2%	$-82.0M -117.0%	$482.0M 1828.0%	$25.0M
Operating Activities net Cash From Operating Activities	$1.1B -40.6%	$1.8B 82.2%	$993.0M -17.2%	$1.2B 313.7%	$-561.0M
Investing Activities Capital Expenditures(pp&e)	$1.3B 2.5%	$1.3B 32.8%	$952.0M 83.1%	$520.0M 217.1%	$164.0M
Investing Activities Acquisitions/Divestitures	$15.0M -54.5%	$33.0M 200.0%	$11.0M -96.9%	$351.0M -94.5%	$6.4B
Investing Activities Other Investing Activities	$0 100.0%	$-36.0M -700.0%	$6.0M	$0 100.0%	$-6.0M
Investing Activities net Cash From Investing Activities	$-704.0M 43.9%	$-1.3B -63.5%	$-768.0M 47.0%	$-1.4B 76.3%	$-6.1B
Financing Activities Proceeds From Debt	$7.5B 37.8%	$5.5B 264.0%	$1.5B 14.7%	$1.3B -86.6%	$9.8B
Financing Activities Repayment of Debt	$7.7B	$0	$0 -100.0%	$367.0M -59.4%	$903.0M
Financing Activities Proceeds From Issuance of Stock	$0	$0 -100.0%	$1.0M -66.7%	$3.0M 200.0%	$1.0M
Financing Activities Repurchase of Stock	$191.0M	$0	$0	—	$0
Financing Activities Payments Related To Tax Withholding For Share Based Comp	$17.0M -37.0%	$27.0M 0.0%	$27.0M -40.0%	$45.0M 181.3%	$16.0M
Financing Activities Payments/proceeds Related To Noncontrolling Interests	$16.0M 433.3%	$3.0M 0.0%	$3.0M 50.0%	$2.0M	$0
Financing Activities net Cash From Financing Activities	$-498.0M 30.2%	$-713.0M 44.4%	$-1.3B -12.4%	$-1.1B -110.7%	$10.6B
Cash Reconciliation Effect of Exchange Rate On Cash	$0	$0 100.0%	$-29.0M -190.6%	$32.0M -75.2%	$129.0M
Cash Reconciliation net Change In Cash	$-127.0M 20.6%	$-160.0M 77.7%	$-718.0M 68.2%	$-2.3B -155.6%	$4.1B
Supplemental Disclosures Income Taxes Paid	$48.0M 84.6%	$26.0M 18.2%	$22.0M 144.4%	$9.0M 228.6%	$-7.0M
Supplemental Disclosures Interest Paid	$1.1B 24.3%	$846.0M 5.1%	$805.0M -3.1%	$831.0M -6.8%	$892.0M
Supplemental Disclosures Non Cash Investing&Financing Activities	$10.0M -75.6%	$41.0M -4.7%	$43.0M 230.8%	$13.0M -65.8%	$38.0M

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2024	2023	2022	2021	2020
Profitability
Gross margin	—	—	—	—	—
Operating margin	+20.5%	+21.4%	+16.1%	+15.3%	-10.6%
Net margin	-2.5%	+6.8%	-8.3%	-10.6%	-48.4%
FCF margin	-2.0%	+4.7%	+0.4%	+7.1%	-20.0%
Growth
Revenue CAGR (3y)	+5.5%	+47.0%	+62.4%	+67.0%	+35.0%
Returns
ROE	-6.7%	+17.3%	-24.2%	-22.7%	-35.0%
ROA	-0.9%	+2.4%	-2.7%	-2.7%	-4.8%
ROIC	+14.9%	+15.6%	+11.3%	+8.5%	-2.2%
Liquidity
Current ratio	0.77x	0.76x	0.79x	1.13x	2.41x
Quick ratio	—	—	—	—	—
Leverage
D/E	6.79x	6.29x	8.02x	7.48x	6.25x
Interest coverage	—	—	—	—	—
Efficiency
Asset turnover	0.35x	0.35x	0.32x	0.25x	0.10x
Cash conversion cycle	—	—	—	—	—

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Caesars Entertainment

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