Caesars Entertainment(US:CZR)2025-07-03 07:52Financial Performance - Caesars Entertainment announced a merger with Eldorado Resorts on June 24, 2019, creating the largest owner and operator of U S gaming assets[5] - Net revenues increased by 4 9% year-over-year, but decreased by 1 2% excluding Centaur[6] - Adjusted EBITDAR increased by 1 3% year-over-year, but decreased by 5 1% excluding Centaur[6] - The adjusted EBITDAR margin was 28 4%[6] Regional Performance - Las Vegas net revenues increased by 1 0% year-over-year to $1 002 million[11] - Las Vegas adjusted EBITDAR increased by 1 6% year-over-year to $389 million, with a margin of 38 8%, up 20 bps[11] - Other U S net revenues increased by 8 4% year-over-year to $1 064 million[11] - Other U S adjusted EBITDAR increased by 4 7% year-over-year to $270 million, but the margin decreased by 90 bps to 25 4%[11] - "All Other" region reported a $28 million adjusted EBITDAR loss, a decrease of $10 million year-over-year[11] Las Vegas Strip Key Performance Indicators - Occupancy increased by 370 bps[9] - ADR (Average Daily Rate) increased by 2 2%[9] - RevPAR (Revenue Per Available Room) increased by 6 2%[9] - Adjusted EBITDAR increased by 1 6%[9] - Adjusted EBITDAR Margin increased by 20 bps[9] Capital Expenditures and Debt - Total financial debt (excluding convertible debt) was $7 861 billion, with 60% fixed and 40% variable[30] - Total financial debt plus REIT capitalized leases was $14 085 billion[30] - The company estimates 2019 maintenance capex to be between $375 million and $450 million, and development capex between $475 million and $550 million[35]