Caesars Entertainment(CZR) - 2019 Q4 - Earnings Call Presentation

Financial Performance - Q4 2019 - Net revenues increased by 2.6% year-over-year[3], reaching $2169 million[8] - Adjusted EBITDAR increased by 3.4% year-over-year[3], with a margin of 27.0%, up 20 bps[3] - Las Vegas net revenue increased by 4.2% year-over-year[3], reaching $989 million[8] - Las Vegas adjusted EBITDAR increased by 3.4% year-over-year[3], reaching $363 million[8] - Adjusted EBITDAR excluding Rio increased by 4.5% year-over-year[3] Financial Performance - Full Year 2019 - Net revenues increased by 4.2% year-over-year[3], reaching $8742 million[16] - Adjusted EBITDAR increased by 4.7% year-over-year[3], with a margin of 27.6%, up 10 bps[3], reaching $2417 million[17] - Marketing efficiency improved to 20.0%, up 10 bps[3] - Labor efficiency improved to 23.4%, up 30 bps[3] Las Vegas Key Performance Indicators - Las Vegas RevPAR increased by 2.1% year-over-year[3] - Las Vegas Adjusted EBITDAR Margin was 36.7%[10]