Caesars Entertainment Q2 2024 10-Q Filed
Ticker: CZR · Form: 10-Q · Filed: Jul 30, 2024 · CIK: 1590895
| Field | Detail |
|---|---|
| Company | Caesars Entertainment, INC. (CZR) |
| Form Type | 10-Q |
| Filed Date | Jul 30, 2024 |
| Risk Level | medium |
| Pages | 16 |
| Reading Time | 20 min |
| Key Dollar Amounts | $0.00001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, gaming, hospitality, financials
Related Tickers: CZRS
TL;DR
**CZRS Q2 10-Q is IN: Financials and ops update for the gaming giant.**
AI Summary
Caesars Entertainment, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter. Key financial metrics and business segment information are provided, reflecting the company's ongoing operations in the hospitality and gaming industry.
Why It Matters
This filing provides investors and analysts with the latest financial performance data for Caesars Entertainment, crucial for understanding the company's current health and future prospects in the competitive gaming and hospitality sector.
Risk Assessment
Risk Level: medium — The company operates in a highly cyclical and competitive industry, subject to economic downturns and regulatory changes.
Key Players & Entities
- Caesars Entertainment, Inc. (company) — Filer of the 10-Q
- Eldorado Resorts, Inc. (company) — Former name of Caesars Entertainment
- 20240630 (date) — End of reporting period
- 20240730 (date) — Filing date
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is for the period ending June 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on July 30, 2024.
What was the previous name of Caesars Entertainment, Inc.?
The former name of Caesars Entertainment, Inc. was Eldorado Resorts, Inc.
What is the primary industry classification for Caesars Entertainment?
Caesars Entertainment's primary industry classification is HOTELS & MOTELS [7011].
What is the company's fiscal year end?
Caesars Entertainment's fiscal year ends on December 31.
Filing Stats: 4,892 words · 20 min read · ~16 pages · Grade level 17.4 · Accepted 2024-07-30 16:39:43
Key Financial Figures
- $0.00001 — ange on which registered Common Stock, $0.00001 par value CZR NASDAQ Stock Market In
Filing Documents
- czr-20240630.htm (10-Q) — 1910KB
- a2024q2cei-ex311.htm (EX-31.1) — 10KB
- a2024q2cei-ex312.htm (EX-31.2) — 10KB
- a2024q2cei-ex321.htm (EX-32.1) — 4KB
- a2024q2cei-ex322.htm (EX-32.2) — 4KB
- czr-20240630_g1.jpg (GRAPHIC) — 79KB
- 0001590895-24-000124.txt ( ) — 9756KB
- czr-20240630.xsd (EX-101.SCH) — 62KB
- czr-20240630_cal.xml (EX-101.CAL) — 87KB
- czr-20240630_def.xml (EX-101.DEF) — 313KB
- czr-20240630_lab.xml (EX-101.LAB) — 681KB
- czr-20240630_pre.xml (EX-101.PRE) — 534KB
- czr-20240630_htm.xml (XML) — 1602KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION 2 Item 1. Unaudited Financial Statements 2 Consolidated Condensed Balance Sheets 2 Consolidated Condensed Statements of Operations 3 Consolidated Condensed Statements of Comprehensive Income (Loss) 4 Consolidated Condensed Statements of Stockholders' Equity 5 Consolidated Condensed Statements of Cash Flows 6 Notes to Consolidated Condensed Financial Statements 8 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 41 Item 4.
Controls and Procedures
Controls and Procedures 41
OTHER INFORMATION
PART II. OTHER INFORMATION 42 Item 1.
Legal Proceedings
Legal Proceedings 42 Item 1A.
Risk Factors
Risk Factors 43 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 44 Item 3. Defaults Upon Senior Securities 44 Item 4. Mine Safety Disclosures 44 Item 5. Other Information 44 Item 6. Exhibits 45
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
Unaudited Financial Statements
Item 1. Unaudited Financial Statements CAESARS ENTERTAINMENT, INC. CONSOLIDATED CONDENSED BALANCE SHEETS (UNAUDITED) (In millions) June 30, 2024 December 31, 2023 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 830 $ 1,005 Restricted cash 111 122 Accounts receivable, net 546 608 Inventories 45 46 Prepayments and other current assets 291 264 Total current assets 1,823 2,045 Investments in and advances to unconsolidated affiliates 157 157 Property and equipment, net 14,860 14,756 Goodwill 10,949 10,990 Intangible assets other than goodwill 4,403 4,523 Deferred tax asset 54 47 Other long-term assets, net 838 848 Total assets $ 33,084 $ 33,366 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 436 $ 408 Accrued interest 312 369 Accrued other liabilities 1,763 1,848 Current portion of long-term debt 100 65 Total current liabilities 2,611 2,690 Long-term financing obligations 12,829 12,759 Long-term debt 12,162 12,224 Deferred tax liability 115 102 Other long-term liabilities 872 871 Total liabilities 28,589 28,646 Commitments and contingencies ( Note 5 ) STOCKHOLDERS' EQUITY: Caesars stockholders' equity 4,305 4,552 Noncontrolling interests 190 168 Total stockholders' equity 4,495 4,720 Total liabilities and stockholders' equity $ 33,084 $ 33,366 The accompanying notes are an integral part of these consolidated condensed financial statements. Table of Contents 2 CAESARS ENTERTAINMENT, INC. CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) Three Months Ended June 30, Six Months Ended June 30, (In millions, except per share data) 2024 2023 2024 2023 NET REVENUES: Casino $ 1,557 $ 1,584 $ 3,092 $ 3,169 Food and beverage 435 435 857 862 Hotel 514 525 1,007 1,028 Other 324 335 616 650 Net revenues 2,830 2,879 5,572 5,709 OPERATING EXPENSES: Casino 817 817 1,669 1,645 Food and beverage 266 258 529 509 Hotel 139 143 276 280 Other 100 111 194 218 General and administrative 46