Caesars Entertainment(CZR) - 2025 Q1 - Earnings Call Presentation

Company Performance Highlights - Caesars Digital generated over $1.2 billion of TTM Net Revenue and $155 million of Adjusted EBITDA [19] - Caesars Digital's Q1 '25 TTM Net Revenue is 20% above Q1 '24 TTM [19] - Caesars Digital's Q1 '25 TTM Adjusted EBITDA is 230% above Q1 '24 TTM [19] - Las Vegas properties generated over $1.0 billion of TTM Adjusted EBITDAR [30] - Regional properties' capital spend comprises approximately 65% of Q1 2025 Regional segment Adjusted EBITDAR [33] - Caesars Digital's iGaming net gaming revenue increased by 53% YoY in Q1 2025 to $118 million [56, 59] Financial Outlook - The company anticipates $1.35 billion in master lease rent [41] - The company's current weighted average cost of debt is 6.5%, implying $775 million of full-year interest expense [41] - The company projects mid-point capital expenditures of $606 million for 2025, excluding Caesars Virginia JV [41] - The company estimates cash income taxes at approximately 5% of Adjusted EBITDAR [41]