Caesars Entertainment Investor Presentation February 17, 2026 Forward Looking Statements Certain information in this presentation constitutes forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the fact that they do not relate strictly to historical or current facts and by the use of words such as "will," "may," "expect," "project," "positioned," or the negative or other variations thereof or comparable terminology. In ...

Company Performance & Financials - Caesars Digital generated approximately $13 billion of TTM Net Revenue and $171 million of TTM Adjusted EBITDA[14] - Q3 '25 TTM Adjusted EBITDA for Caesars Digital is 36% above Q3 '24 TTM[14] - Las Vegas center Strip assets generated approximately $1 billion of TTM Adjusted EBITDA[29] - Approximately $31 billion of capital spend in regional properties since closing of the Eldorado & Caesars merger in July 2020[34] - Since Q2 2024, Caesars has repurchased ~6% of shares outstanding totaling $391 million[54] - Q3 2025 Adjusted EBITDA was $884 million, with an Adjusted EBITDA margin of 308%[112, 113] Digital Growth - iGaming net gaming revenue increased by 30% YoY in Q3 2025, and 84% YoY in Q3 2024[77] - iGaming experienced a 2-Year Stack growth of +139%[77] - Monthly Unique Payers (MUPs) for Caesars Digital reached 458,434, a 15% YoY growth in Q3 '25 vs Q3 '24[75] Expansion & Investments - Caesars is developing Harrah's Oklahoma, expected to open in Q2 2026, increasing Caesars Rewards exposure to over 2 million adults within driving distance[37] - Caesars Republic Sonoma County is under development, expected to open in late 2027, giving Caesars Rewards exposure to over 6 million adults within 150 miles[40]

Company Performance & Financials - Caesars Entertainment's Q2 2025 net revenues increased by 29% year-over-year[63] - The company's Q2 2025 Adjusted EBITDA was $955 million, a 41% decrease year-over-year[63] - The Adjusted EBITDA margin for Q2 2025 was 329%[63] - The company's master lease rent is $1350 million[51] - Full year interest expense is $775 million[51] Caesars Digital - Caesars Digital's trailing twelve months net revenue is $13 billion[18] - Caesars Digital's trailing twelve months Adjusted EBITDA is $195 million[18] - Caesars Digital's Q2 2025 net revenues increased by 24% year-over-year[69] - iGaming net gaming revenue increased by 51% year-over-year in Q2 2025, reaching $124 million[71] Capital Investments - Approximately $860 million of capital investment brought online post-closing of the Eldorado & Caesars merger in July 2020 in Las Vegas[31] - Approximately $29 billion of capital spend since closing of the Eldorado & Caesars merger in July 2020 in Regional Properties[38]