凯撒娱乐 2026年季度报告

Washington, D.C. 20549 FORM 10-Q (MarkOne) ☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF1934 For the quarterly period ended March 31, 2026OR ☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF1934 For the transition periodfromtoCommission File No. 001-36629 CAESARS ENTERTAINMENT,INC. (Exact name of registrant as specified in its charter) Delaware(State or other jurisdiction ofincorporation or organization) 46-3657681(I.R.S. EmployerIdentification No.) 100 West Liberty Street, 12th Floor, Reno, Nevada 89501(Address and zip code of principal executive offices) (775)328-0100(Registrant’s telephone number, including area code)N/A(Former name, former address and former fiscal year, if changed since last report)Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was required to filesuch reports), and (2)has been subject to such filing requirements for the past 90days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorterperiod that the registrant was required to submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer,smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,”“smaller reporting company,” and “emerging growth company” in Rule12b-2 of the Exchange Act. Ifan emerging growth company, indicate by check mark if the registrant has elected not to use the extended transitionperiod for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the ExchangeAct.☐ Indicateby check mark whether the registrant is a shell company(as defined in Rule 12b-2 of the ExchangeAct).Yes☐No☒ Thenumber of shares of the Registrant’s Common Stock, $0.00001 par value per share, outstanding as of April23, 2026was203,676,930. CAESARS ENTERTAINMENT,INC.TABLE OF CONTENTS PagePART I. FINANCIAL INFORMATION2Item 1.Unaudited Financial Statements2Consolidated Condensed Balance Sheets2Consolidated Condensed Statements of Operations3Consolidated Condensed Statements of Comprehensive Income (Loss)4Consolidated Condensed Statements of Stockholders’ Equity5Consolidated Condensed Statements of Cash Flows6Notes to Consolidated Condensed Financial Statements8Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations25Item 3.Quantitative and Qualitative Disclosures About Market Risk36Item 4.Controls and Procedures37PART II.OTHER INFORMATION38Item 1.Legal Proceedings38Item 1A.Risk Factors39Item 2.Unregistered Sales of Equity Securities and Use of Proceeds40Item 3.Defaults Upon Senior Securities40Item 4.Mine Safety Disclosures40Item 5.Other Information40Item 6.Exhibits41Signatures42 PART I - FINANCIAL INFORMATION CAESARS ENTERTAINMENT,INC.CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS(UNAUDITED) Table of Contents CAESARS ENTERTAINMENT,INC.CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)(UNAUDITED) Table of Contents CAESARS ENTERTAINMENT,INC.CONSOLIDATED CONDENSED STATEMENTS OF STOCKHOLDERS’ EQUITY(UNAUDITED) CAESARS ENTERTAINMENT,INC.CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS(UNAUDITED) Three Months Ended March 31,(In millions)20262025SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:Cash interest paid for debt$212$210Cash interest paid for rent related to financing obligations346336Income taxes paid, net3—NON-CASH INVESTING AND FINANCING ACTIVITIES:Payables for capital expenditures96130Right-of-use asset obtained in exchange for lease liability203— CAESARS ENTERTAINMENT,INC.NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS(UNAUDITED) The accompanying consolidated condensed financial statements include the accounts of Caesars Entertainment, Inc., a Delawarecorporation, and its consolidated subsidiaries which may be referred to as the “Company,” “CEI,” “Caesars,” “we,” “our,” or “us”within these financial statements. This Form 10-Q should be read in conjunction with our Annual Report on Form 10-K for the year ended December31, 2025 (the“2025 Annual Report”). Capitalized terms used but not defined in this Form 10-Q have the same meanings as in the 2025 AnnualReport. We also refer to (i) our Consolidated Condensed Financial Statements as our “Financial Statements,” (ii) our ConsolidatedCondensed Balance Sheets as our “Balance Sheets,” (iii) our Consolidated Condensed Statements of Operations and ConsolidatedCondensed Statements of Comprehensive Income (Loss) as our