UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-36629 CAESARS ENTERTAINMENT, INC. (Exact name of registrant as specified in its charter) Delaware 46-3657681 (State or other jurisdi ...

Caesars Entertainment, Inc. (NASDAQ:CZR) Q1 2021 Earnings Conference Call May 4, 2021 5:00 PM ET Company Participants Brian Agnew – Senior Vice President of Corporate Finance, Treasurer and Investor Relations Anthony Carano – President and Chief Operating Officer Tom Reeg – Chief Executive Officer Bret Yunker – Chief Financial Officer Conference Call Participants Carlo Santarelli – Deutsche Bank Joe Greff – JPMorgan Shaun Kelley – Bank of America Steve Wieczynski – Stifel Thomas Allen – Morgan Stanley John ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-36629 CAESARS ENTERTAINMENT, INC. (Exact name of registrant as specified in its charter) Delaware 46-3657681 (State or other jurisd ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period to Commission File No. 001-36629 CAESARS ENTERTAINMENT, INC. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporati ...

Financial Data and Key Metrics Changes - For Q4 2020, Caesars Entertainment reported $346 million in EBITDA, with a significant portion generated in October before restrictions tightened in November and December [11][12] - Las Vegas generated $100 million in EBITDA, excluding the Rio rent payment, indicating a need for improvement in absolute terms as the market reopens [12][32] - Regional EBITDA margins improved by approximately 400 basis points despite significant restrictions in various states [13][36] Business Line Data and Key Metrics Changes - In Las Vegas, adjusted EBITDA was $90 million for the quarter, with total occupancy at 60%, weekend occupancy at 80%, and midweek occupancy at 50% [32] - The regional markets faced challenges due to property closures and COVID-19 restrictions, with revenues down 17% and EBITDA down 6%, but EBITDAR margins improved [36][37] Market Data and Key Metrics Changes - January and February 2021 saw a 20% month-over-month increase in bookings for the FIT and casino segments, with gross and net bookings reaching record levels [16][19] - By mid-March, occupancy rates were projected to be over 50% mid-week and above 95% on weekends [19] Company Strategy and Development Direction - The company is focused on maintaining cost discipline while preparing for a recovery in business, with plans for property improvements and new food and beverage concepts in Las Vegas [35][36] - Caesars aims to exceed synergy targets from the merger with Eldorado and is optimistic about the recovery of travel and tourism, particularly in Las Vegas [27][37] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in a strong recovery, with expectations to reach 2019 performance levels as early as the second half of 2021 [15][22] - The company is encouraged by recent booking trends and anticipates a significant increase in group business as restrictions ease [20][22] Other Important Information - The company has completed the sale of two Indiana assets, yielding over $1 billion in rent-adjusted debt relief, enhancing liquidity [39] - The integration of William Hill is ongoing, with expectations to close the transaction soon, which will enhance the company's digital offerings [28][39] Q&A Session Summary Question: Will Las Vegas need to improve significantly before asset sales occur? - Management indicated that no assets are currently for sale in Las Vegas and any future sales would be based on actual performance rather than projections [42] Question: Is online sports betting and iGaming profitable? - Management confirmed profitability across all verticals in the interactive digital business, with plans to invest more for market share post-William Hill integration [44][45] Question: What is the outlook for iGaming and sports betting? - Management believes iGaming will continue to grow and that states will likely expand legalization as they see revenue from sports betting [51][52] Question: What are the expectations for group business recovery? - Management expects group business to return with higher rates than 2019, driven by strong demand and booking trends [66] Question: How is the company managing room bookings? - Management clarified that they are not holding back convention bookings and are managing rates based on demand [62][66] Question: What are the leverage targets and free cash flow expectations? - Management remains confident in achieving $10 per share in free cash flow and aims to reduce leverage below four times on a gross lease-adjusted basis [73][74]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-36629 CAESARS ENTERTAINMENT, INC. (Exact name of registrant as specified in its charter) Delaware 46-3657681 (State or other ju ...

Caesars Entertainment, Inc. (NASDAQ:CZR) Q3 2020 Earnings Conference Call November 5, 2020 5:00 PM ET Company Participants Brian Agnew - Senior Vice President, Finance Investor Relations and Treasury Tom Reeg - Chief Executive Officer Anthony Carano - President and Chief Operating Officer Brett Yunker - Chief Financial Officer Conference Call Participants Steve Wieczynski - Stifel Thomas Allen - Morgan Stanley Jared Shojaian - Wolfe Research John DeCree - Union Gaming Chad Beynon - Macquarie Dan Politzer - ...

Caesars Entertainment, Inc. (NASDAQ:CZR) Q2 2020 Earnings Conference Call August 6, 2020 5:00 PM ET Company Participants Brian Agnew - VP of Finance and IR Tom Reeg - CEO Anthony Carano - President and COO Bret Yunker - CFO Conference Call Participants Carlo Santarelli - Deutsche Bank Steve Wieczynski - Stifel Thomas Allen - Morgan Stanley Dan Politzer - JPMorgan John Decree - Union Gaming Barry Jonas - SunTrust Chad Beynon - Macquarie David Katz - Jefferies Shaun Kelly - Bank of America Merrill Lynch Jare ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-36629 CAESARS ENTERTAINMENT, INC. (Exact name of registrant as specified in its charter) Delaware 46-3657681 (State or other jurisdi ...

Financial Data and Key Metrics Changes - In Q1 2020, net revenue decreased by 13.6% year-over-year to $1.8 billion, with adjusted EBITDAR declining 46.3% to $302 million [24][32] - For the first two months of Q1, net revenue was up 12% year-over-year, and adjusted EBITDAR increased 28.7% [23] - March revenue was 56% lower than the prior year due to COVID-19 related shutdowns [24] Business Line Data and Key Metrics Changes - Las Vegas segment saw a 13.9% year-over-year decline in net revenue to $822 million, with adjusted EBITDAR down 39.7% [25][26] - Other U.S. segment net revenue totaled $874 million, down 13.5% year-over-year, with adjusted EBITDAR decreasing 50.2% [27] - The "All Other" segment, including international operations, reported net revenues of $132 million, down 12% year-over-year [29] Market Data and Key Metrics Changes - Q1 occupancy in Las Vegas decreased to 77.5% from 95% in Q1 2019, with RevPAR declining 19.6% to $120 [26] - Significant cancellations of hotel and convention reservations occurred due to property closures [26] Company Strategy and Development Direction - The company is focused on preserving liquidity, having drawn down $1.14 billion under revolving credit facilities, ending the quarter with approximately $2.7 billion in unrestricted cash [32] - Plans to phase openings of properties based on demand and contractual commitments, with health and safety initiatives being prioritized [17][19] - The company is evaluating cost centers to ensure prudent spending as properties reopen [33] Management's Comments on Operating Environment and Future Outlook - Management expressed uncertainty regarding the timing of reopening and consumer behavior post-reopening, but noted a strong connection with guests and geographic diversity as advantages [9][10] - There is optimism about a quicker recovery in regional markets compared to Las Vegas, with encouraging signs of demand returning [35][50] Other Important Information - The company has established an employee assistance fund, Caesars Cares, to support team members affected by COVID-19 [13] - A sale of Bally's Atlantic City for approximately $25 million is in progress, subject to regulatory approvals [20] Q&A Session Summary Question: Insights on customer types and market recovery - Management believes regional markets will recover faster due to less reliance on air travel, with positive signs for Las Vegas bookings in Q4 [35][36] Question: Breakeven points for revenue - Breakeven for regional properties is approximately 30% of prior revenues, while Las Vegas requires about 50% [44][46] Question: Online gambling performance - Online gambling in New Jersey has seen significant growth, with plans to expand into other states [53][54] Question: Reopening strategies - Reopening will be phased, prioritizing hotel guests and high-value customers, with marketing efforts adjusted based on demand [62][63]