Financials Caesars Entertainment, Inc.

Equities

CZR

US12769G1004

Casinos & Gaming

Market Closed - Nasdaq Other stock markets 16:00:00 2025-12-05 EST			5-day change	1st Jan Change
23.24 ^USD	+1.31%		-0.13%	-30.46%

12-05	Gaming and Leisure Properties Provides Updates on $1.5 Billion Financing Commitments	MT
12-03	Caesars Entertainment, Inc. Announces Retirement of Don Kornstein as Vice Chair of the Board, Effective Dec. 31, 2025	CI

Projected Income Statement: Caesars Entertainment, Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	3,474	9,570	10,821	11,528	11,245	11,474	11,773	12,049
Change	-	175.47%	13.07%	6.53%	-2.45%	2.03%	2.61%	2.34%
EBITDA ¹	737	2,993	3,243	3,938	3,739	3,654	3,802	3,935
Change	-	306.11%	8.35%	21.43%	-5.05%	-2.27%	4.05%	3.51%
EBIT ¹	-437	1,706	1,739	2,472	2,304	2,072	2,274	2,400
Change	-	490.39%	1.93%	42.15%	-6.8%	-10.06%	9.73%	5.57%
Interest Paid ¹	-1,174	-2,295	-2,265	-2,342	-2,366	-2,275	-2,170	-2,121
Earnings before Tax (EBT) ¹	-1,632	-1,269	-565	-60	-124	-214.4	107.6	275.3
Change	-	22.24%	55.48%	89.38%	-106.67%	-72.91%	150.17%	155.94%
Net income ¹	-1,757	-1,019	-899	786	-278	-256.6	55.32	235.3
Change	-	42%	11.78%	187.43%	-135.37%	7.7%	121.56%	325.34%
Announcement Date	2/25/21	2/22/22	2/21/23	2/20/24	2/25/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3
Net sales ¹	1,497	1,699	2,502	2,685	2,591	2,292	2,821	2,887	2,821	2,830	2,879	2,994	2,825	2,742	2,830	2,874	2,799	2,794	2,907	2,869	2,906	2,864	2,953	2,956	3,001	2,892	2,964	2,975
Change	-	13.49%	47.26%	7.31%	-3.5%	-11.54%	23.08%	2.34%	-2.29%	0.32%	1.73%	3.99%	-5.64%	-2.94%	3.21%	1.55%	-2.61%	-0.18%	4.04%	-1.31%	1.29%	-1.45%	3.09%	0.11%	1.54%	-3.66%	2.5%	0.37%
EBITDA ¹	296	505	1,004	870	581	296	978	1,012	957	958	1,007	1,043	930	853	1,000	1,001	885	884	955	884	919.8	910.7	974	945.9	967.2	920.9	981.1	964.5
Change	-	70.61%	98.81%	-13.35%	-33.22%	-49.05%	230.41%	3.48%	-5.43%	0.1%	5.11%	3.57%	-10.83%	-8.28%	17.23%	0.1%	-11.59%	-0.11%	8.03%	-7.43%	4.05%	-0.99%	6.95%	-2.89%	2.26%	-4.78%	6.53%	-1.69%
EBIT ¹	-83	186	590	532	255	-10	602	659	488	603	609	724	536	485	506	644	669	488	526	513	547.1	537.8	596.1	574.1	603.5	576.9	627.1	616.7
Change	-	324.1%	217.2%	-9.83%	-52.07%	-103.92%	6,120%	9.47%	-25.95%	23.57%	1%	18.88%	-25.97%	-9.51%	4.33%	27.27%	3.88%	-27.06%	7.79%	-2.47%	6.65%	-1.71%	10.84%	-3.68%	5.11%	-4.41%	8.7%	-1.66%
Charge d'intérêts ¹	-566	-563	-576	-579	-561	-552	-559	-569	-585	-598	-	-581	-581	-590	-594	-596	-586	-574	-579	-576	-559.3	-548.1	-545.1	-538.6	-536.6	-553.2	-552.4	-548.7
Earnings before Tax (EBT) ¹	-496	-510	101	-317	-557	-558	88	61	-156	-185	26	139	-40	-127	-92	52	43	-87	-52	-64	-6.714	-5.921	57.28	45.14	66.72	11.38	64.46	55.92
Change	-	-2.82%	119.8%	-413.86%	-75.71%	-0.18%	115.77%	-30.68%	-355.74%	-18.59%	114.05%	434.62%	-128.78%	-217.5%	27.56%	156.52%	-17.31%	-302.33%	40.23%	-23.08%	89.51%	11.81%	1,067.42%	-21.19%	47.8%	-82.94%	466.36%	-13.24%
Net income ¹	-555	-423	71	-233	-434	-680	-123	52	-148	-136	920	74	-72	-158	-122	-9	11	-115	-82	-55	-9.632	-14.66	38.84	24.14	47.82	4.194	48.81	41.63
Change	-	23.78%	116.78%	-428.17%	-86.27%	-56.68%	81.91%	142.28%	-384.62%	8.11%	776.47%	-91.96%	-197.3%	-119.44%	22.78%	92.62%	222.22%	-1,145.45%	28.7%	32.93%	82.49%	-52.15%	365.03%	-37.84%	98.08%	-91.23%	1,063.93%	-14.71%
Announcement Date	2/25/21	5/4/21	8/3/21	11/2/21	2/22/22	5/3/22	8/2/22	11/1/22	2/21/23	5/2/23	8/1/23	10/31/23	2/20/24	4/30/24	7/30/24	10/29/24	2/25/25	4/29/25	7/29/25	10/28/25	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Caesars Entertainment, Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	24,677	25,146	12,047	11,434	11,428	10,938	10,135	8,812
Change	-	1.9%	-52.09%	-5.09%	-0.05%	-4.29%	-7.34%	-13.05%
Announcement Date	2/25/21	2/22/22	2/21/23	2/20/24	2/25/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Caesars Entertainment, Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	163	520	952	1,264	1,296	802.6	584.3	601
Change	-	219.02%	83.08%	32.77%	2.53%	-38.07%	-27.2%	2.85%
Free Cash Flow (FCF) ¹	-745	679	41	545	-221	620.9	976.1	1,110
Change	-	191.14%	-93.96%	1,229.27%	-140.55%	380.97%	57.2%	13.71%
Announcement Date	2/25/21	2/22/22	2/21/23	2/20/24	2/25/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Caesars Entertainment, Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	21.21%	31.27%	29.97%	34.16%	33.25%	31.85%	32.3%	32.66%
EBIT Margin (%)	-12.58%	17.83%	16.07%	21.44%	20.49%	18.06%	19.31%	19.92%
EBT Margin (%)	-46.98%	-13.26%	-5.22%	-0.52%	-1.1%	-1.87%	0.91%	2.28%
Net margin (%)	-50.58%	-10.65%	-8.31%	6.82%	-2.47%	-2.24%	0.47%	1.95%
FCF margin (%)	-21.45%	7.1%	0.38%	4.73%	-1.97%	5.41%	8.29%	9.21%
FCF / Net Income (%)	42.4%	-66.63%	-4.56%	69.34%	79.5%	-241.99%	1,764.56%	471.75%
Profitability
ROA	-5.13%	-1.73%	-2.51%	2.35%	-0.84%	-0.86%	0.6%	1.3%
ROE	-35.12%	-13.57%	-21.95%	26.3%	-6.38%	-5.85%	1.52%	3.92%
Financial Health
Leverage (Debt/EBITDA)	33.48x	8.4x	3.71x	2.9x	3.06x	2.99x	2.67x	2.24x
Debt / Free cash flow	-33.12x	37.03x	293.83x	20.98x	-51.71x	17.62x	10.38x	7.94x
Capital Intensity
CAPEX / Current Assets (%)	4.69%	5.43%	8.8%	10.96%	11.53%	7%	4.96%	4.99%
CAPEX / EBITDA (%)	22.12%	17.37%	29.36%	32.1%	34.66%	21.96%	15.37%	15.27%
CAPEX / FCF (%)	-21.88%	76.58%	2,321.95%	231.93%	-586.43%	129.26%	59.86%	54.14%
Items per share
Cash flow per share ¹	-4.476	5.682	4.64	8.375	4.977	6.013	7.614	8.473
Change	-	226.95%	-18.35%	80.5%	-40.57%	20.81%	26.63%	11.28%
Dividend per Share ¹	-	-	-	-	-	-	-	0.19
Change	-	-	-	-	-	-	-	-
Book Value Per Share ¹	24.11	20.96	17.35	21.07	19.67	18.54	18.79	23.38
Change	-	-13.08%	-17.21%	21.46%	-6.66%	-5.77%	1.38%	24.43%
EPS ¹	-13.5	-4.83	-4.19	3.64	-1.29	-1.241	0.2198	1.167
Change	-	64.22%	13.25%	186.87%	-135.44%	3.82%	117.72%	430.91%
Nbr of stocks (in thousands)	208,277	213,774	214,566	215,711	212,480	204,108	204,108	204,108
Announcement Date	2/25/21	2/22/22	2/21/23	2/20/24	2/25/25	-	-	-