CZR — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-07-28

• Subsequent to June 30, 2026, we launched mobile sports betting and iGaming in Alberta, Canada on July 13, 2026.

• Proposed Merger of Caesars Entertainment, Inc. with Fertitta Entertainment, Inc.

• On May 27, 2026, Caesars, Fertitta Gaming Holdco, LLC, a Texas limited liability company (“Fertitta Gaming”), Empire Merger Sub, Inc., a Delaware corporation and direct wholly owned subsidiary of Fertitta Gaming (“Merger Sub”), Landry’s Fertitta, LLC, a Texas limited liability company solely for the…

• The pending Merger may have significant effects on us, including, among others, the significant diversion of management and employee attention from ordinary course matters. For a more extensive discussion of those and other possible effects, please refer to “Risk Factors” in Part II, Item 1A of this…

• The Company previously held a minority interest of approximately 8% in JGB Vegas Retail, LLC (“Grand Bazaar”) and leased certain land, buildings and improvements to Grand Bazaar which operated an indoor/outdoor shopping and entertainment district on the Las Vegas Strip adjacent to the Company’s oper…

Text removed vs the prior filing · source: 10-Q · 2026-04-28

• Consolidated net revenues increased for the three months ended March 31, 2026, as compared to the same prior year period, mainly due to higher casino revenues. This increase in casino revenues was primarily driven by significant growth in iGaming handle coupled with improved sports betting hold in o…

• Interest expense, net decreased for the three months ended March 31, 2026, as compared to the same prior year period, primarily due to a reduction in outstanding debt and lower variable rate interest expense. The decrease was slightly offset by an increase in interest expense related to our leases.

• The income tax provision for the three months ended March 31, 2026 and 2025 differed from the expected income tax provision based on the federal tax rate of 21% primarily due to an increase in federal and state valuation allowances against the deferred tax assets for excess business interest expense…

• Segment comparison of the three months ended March 31, 2026 and 2025

• Our Las Vegas segment’s net revenues, net income, Adjusted EBITDA and Adjusted EBITDA margin remained relatively flat for the three months ended March 31, 2026, as compared to the same prior year period, primarily due to increased convention and group business offsetting general declines in lower ci…

Text added vs the prior filing · source: 10-Q · 2026-07-28

• There have been no other material quantitative changes in our market risk exposure, or how such risks are managed from the information previously reported under Part II, Item 7A of the 2025 Annual Report.

Text added vs the prior filing · source: 10-Q · 2026-07-28

• •risks related to the Merger, including, but not limited to: (a) risks related to the combination of the Company and Fertitta Gaming and the integration of their respective businesses and assets; (b) the inability to consummate the proposed transaction within the anticipated time period, or at all, …

• conditions, legislative and regulatory matters, increases in gaming taxes and fees in the jurisdictions in which we operate, litigation, increased competition, reliance on key personnel, our ability to comply with covenants in our debt instruments, terrorist incidents, natural disasters, severe weat…

Text added vs the prior filing · source: 10-Q · 2026-07-28

• The following risk factors update and supplement the risk factors contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. We may disclose changes to such factors or disclose additional factors from time to time in our filings with the SEC.

• The announcement and pendency of our agreement to be acquired by Merger Sub may have an adverse effect on our business, operating results and our stock price, and may result in the loss of employees, customers, suppliers, and other business partners.

• We are subject to risks in connection with the announcement and pendency of the Merger, including, but not limited to, the following:

• •changes in our business, operations, financial position, and prospects;

• •market assessments of the likelihood that the Merger will be consummated;

Text removed vs the prior filing · source: 10-Q · 2026-04-28

• A description of our risk factors can be found in “Part I, Item 1A. Risk Factors” included in the 2025 Annual Report. There have been no material changes to those risk factors during the three months ended March 31, 2026.