For the year ending 2025-12-31, CZR had -$32M decrease in cash & cash equivalents over the period. $497M in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net income (loss) | -437 | -211 | 828 | -910 |
| Discontinued operations, net of income taxes | - | 0 | 0 | -386 |
| Depreciation and amortization | 1,417 | 1,324 | 1,261 | 1,205 |
| Amortization of deferred financing costs and discounts | 178 | 179 | 200 | 297 |
| Provision for credit losses | 43 | 49 | 41 | 25 |
| Deferred revenue | - | - | - | 2 |
| Loss on extinguishment of debt | -4 | -89 | -200 | -85 |
| Non-cash lease amortization | 24 | 26 | 51 | 54 |
| Gain on investments | 1 | 7 | 5 | -54 |
| Stock-based compensation expense | 95 | 94 | 104 | 101 |
| (gain) loss on sale or disposal of property, equipment, trademark and businesses | -17 | 359 | -22 | -5 |
| Impairment charges | 182 | 302 | 95 | 108 |
| Deferred income taxes | -11 | 87 | -888 | -41 |
| Gain on derivatives | - | 0 | 0 | 73 |
| Foreign currency transaction gain | - | - | 0 | 0 |
| Other non-cash adjustments to net (income) loss | 8 | 23 | 40 | 57 |
| Accounts receivable | 53 | -86 | 82 | 143 |
| Prepaid expenses and other assets | 49 | 13 | -39 | 15 |
| Income taxes receivable and payable, net | -81 | -48 | -27 | -7 |
| Accounts payable, accrued expenses and other liabilities | -18 | -500 | 10 | -80 |
| Other | - | 0 | 0 | -1 |
| Net cash provided by operating activities | 1,302 | 1,075 | 1,809 | 993 |
| Purchase of property and equipment | 805 | 1,296 | 1,264 | 952 |
| Business acquisitions, net of cash acquired-Caesars Entertainment Corporation | - | - | - | 0 |
| Business acquisitions, net of cash acquired-William Hill | - | - | 0 | 0 |
| Business acquisitions, net of cash acquired-Horseshoe Baltimore | - | - | 0 | 0 |
| Acquisition of intangible assets | 4 | 15 | 30 | 11 |
| Proceeds from sale of businesses, property and equipment, net of cash sold | - | - | 1 | 39 |
| Proceeds from sale of property, equipment, trademark and businesses | 218 | 554 | - | - |
| Proceeds from the sale of investments | -8 | -14 | 4 | 126 |
| Proceeds from insurance related to property damage | - | 0 | 0 | 36 |
| Distributions from unconsolidated affiliate | 23 | 39 | - | - |
| Investments in unconsolidated affiliates | 6 | 0 | 3 | 0 |
| Other | 5 | 0 | -36 | 6 |
| Net cash used in investing activities | -571 | -704 | -1,256 | -768 |
| Proceeds from long-term debt and revolving credit facilities | 1,580 | 7,525 | 5,460 | 1,500 |
| Repayments of long-term debt and revolving credit facilities | 1,969 | 7,670 | 6,106 | 2,738 |
| Proceeds from sale-leaseback financing arrangement | - | - | - | 0 |
| Financing obligation payments | 26 | 8 | 8 | 3 |
| Debt issuance and extinguishment costs | 0 | 121 | 79 | 12 |
| Proceeds from issuance of common stock | - | 0 | 0 | 1 |
| Cash paid to settle convertible notes | - | - | 0 | 0 |
| Repurchase of common stock | 229 | 191 | - | - |
| Taxes paid related to net share settlement of equity awards | 17 | 17 | 27 | 27 |
| Payments to acquire ownership interest in subsidiary | 0 | 0 | 66 | - |
| Contributions from noncontrolling interest owners | 0 | 0 | 116 | - |
| Distributions to noncontrolling interest owners | 102 | 16 | 3 | 3 |
| Net cash used in financing activities | -763 | -498 | -713 | -1,282 |
| Cash flows from operating activities | - | 0 | 0 | -18 |
| Cash flows from investing activities | - | 0 | 0 | 386 |
| Cash flows from financing activities | - | - | 0 | 0 |
| Net cash from discontinued operations | - | 0 | 0 | 368 |
| Change in cash, cash equivalents, and restricted cash classified as assets held for sale | - | - | 0 | 0 |
| Effect of foreign currency exchange rates on cash | - | 0 | 0 | -29 |
| Decrease in cash, cash equivalents and restricted cash | -32 | -127 | -160 | -718 |
| Cash and cash equivalents at beginning of period | 1,016 | 1,143 | 1,303 | 2,021 |
| Cash and cash equivalents at end of period | 984 | 1,016 | 1,143 | 1,303 |
Caesars Entertainment, Inc. (CZR)
Caesars Entertainment, Inc. (CZR)