Caesars Entertainment, Inc.

Balance Sheet and Liquidity As of September 30, 2025, Caesars had $11.9 billion in aggregate principal amount of debt outstanding.

SEC original ↗Caesars Entertainment, Inc. — Earnings release (8-K exhibit)EX-99Oct 28, 2025

Net debt is equal to total outstanding indebtedness less cash and cash equivalents.

SEC original ↗Caesars Entertainment, Inc. — Earnings release (8-K exhibit)EX-99Oct 28, 2025

In July 2025, we fully redeemed $546 million of 8.125% notes due 2027.

SEC original ↗Caesars Entertainment, Inc. — Earnings release (8-K exhibit)EX-99Oct 28, 2025

During the quarter, and subsequent period through October, we repurchased 3.9 million shares of our common stock for $100 million, bringing aggregate share repurchases to 13.2 million for $391 million since midway through 2024.

SEC original ↗Caesars Entertainment, Inc. — Earnings release (8-K exhibit)EX-99Oct 28, 2025

We continue to view our shares as undervalued and expect a balanced approach to free cash flow allocation across debt reduction and share buybacks.

SEC original ↗Caesars Entertainment, Inc. — Earnings release (8-K exhibit)EX-99Oct 28, 2025

Adjusted EBITDA represents net income (loss) before interest income and interest expense, net of interest capitalized, (benefit) provision for income taxes, depreciation and amortization, stock-based compensation expense, (gain) loss on extinguishment of debt, impairment charges, other (income) loss, net income (loss) attributable to noncontrolling interests, transaction costs associated with our acquisitions, developments and divestitures, and non-cash changes in equity method investments.

SEC original ↗Caesars Entertainment, Inc. — Earnings release (8-K exhibit)EX-99Oct 28, 2025

All tied to its industry-leading Caesars Rewards loyalty program, the company focuses on building value with its guests through a unique combination of impeccable service, operational excellence and technology leadership.

SEC original ↗Caesars Entertainment, Inc. — Earnings release (8-K exhibit)EX-99Oct 28, 2025

Forward-looking statements include statements regarding our strategies, objectives and plans for future development or acquisitions of properties or operations, as well as expectations, future operating results and other information that is not historical information.

SEC original ↗Caesars Entertainment, Inc. — Earnings release (8-K exhibit)EX-99Oct 28, 2025

Levels of the hierarchy prioritize the inputs used to measure fair value and include: Level 1: Observable inputs such as quoted prices in active markets.

SEC original ↗Caesars Entertainment, Inc. — 10-Q Quarterly report10-QOct 27, 2026

The CEI Senior Secured Notes due 2030 rank equally with all existing and future first-priority lien obligations of the Company and the subsidiary guarantors.

SEC original ↗Caesars Entertainment, Inc. — 10-Q Quarterly report10-QOct 27, 2026

The CEI Senior Secured Notes due 2032 rank equally with all existing and future first-priority lien obligations of the Company and the subsidiary guarantors.

SEC original ↗Caesars Entertainment, Inc. — 10-Q Quarterly report10-QOct 27, 2026

There are a number of risks and uncertainties that could cause our actual results to differ materially from those expressed in the forward-looking statements which are included elsewhere in this press release.

SEC original ↗Caesars Entertainment, Inc. — Earnings release (8-K exhibit)EX-99Oct 28, 2025

In light of these and other risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur.

SEC original ↗Caesars Entertainment, Inc. — Earnings release (8-K exhibit)EX-99Oct 28, 2025

(c) Transaction costs and other, net primarily includes costs related to non-cash losses on the write down and disposal of assets, certain non-recurring litigation reserves, non-recurring asset recoveries, professional services for transaction and integration costs, various contract exit or termination costs, pre-opening costs in connection with our new property openings, and non-cash changes in equity method investments.

SEC original ↗Caesars Entertainment, Inc. — Earnings release (8-K exhibit)EX-99Oct 28, 2025

Legal Proceedings 45 Item 1A.

SEC original ↗Caesars Entertainment, Inc. — 10-Q Quarterly report10-QOct 27, 2026

Litigation, Commitments and Contingencies Litigation General We are party to various legal proceedings, which have arisen in the normal course of our business.

SEC original ↗Caesars Entertainment, Inc. — 10-Q Quarterly report10-QOct 27, 2026

The assumptions utilized by our actuaries are subject to significant uncertainty and if outcomes differ from these assumptions or events develop or progress in a negative manner, the Company could experience a material adverse effect and additional liabilities may be recorded in the future.

SEC original ↗Caesars Entertainment, Inc. — 10-Q Quarterly report10-QOct 27, 2026