Caesars Entertainment, Inc. (CZR) Balance Sheet

NASDAQ: CZRAssets, liabilities, debt and equity over 10 years.

CZR balance sheet, 2025

December 31, 2025 · U.S. dollars

$31.64B assets = $27.95B liabilities + $3.69B equity

Both columns are drawn to the same scale: what CZR owns equals what it owes plus shareholders’ equity. Hover a block for its value.

CZR financial health

Current ratio0.80

Tight · current assets cover current liabilities 0.80×

Debt / equity7.52

High leverage · $7.52 of debt for each $1 of equity

Equity / assets11.1%

Thin equity · of assets funded by shareholders

Cash / debt3.4%

Low cash cover · cash & short-term investments vs total debt

Goodwill & intangibles45.6%

Acquisition-heavy · of total assets

Descriptive bands, not a rating. Fiscal 2025.

CZR balance sheet trends, 2016–2025

Caesars Entertainment, Inc. balance sheet trends
Metric	Then	Latest	Change
Total assets	$1.29B2016	$31.64B2025	+42.6%/yr
Total liabilities	$995.6M2016	$27.95B2025	+44.9%/yr
Shareholders’ equity	$298.5M2016	$3.50B2025	+31.5%/yr
Cash & short-term investments	$61.0M2016	$887.0M2025	+34.6%/yr
Total debt	$6.75B2016	$26.34B2025	+16.3%/yr
Net cash (debt)	−$6.69B2016	−$25.46B2025	−$18.8B
Working capital	−$287,0002016	−$450.0M2025	−$449.7M
Book value per share	$6.262016	$16.852025	+11.6%/yr
Current ratio	1.002016	0.802025	−0.20
Debt / equity	22.632016	7.522025	−15.11
Shares outstanding	47.7M2016	208.0M2025	+17.8%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

CZR assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

CZR liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

CZR debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

CZR balance sheet

Caesars Entertainment, Inc. annual balance sheet
	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash & short-term investments	$887.0M	$866.0M	$1.00B	$1.04B	$1.07B	$1.78B	$241.0M	$247.7M	$152.2M	$61.0M
Cash & equivalents	$887.0M	$866.0M	$1.00B	$1.04B	$1.07B	$1.78B	$206.3M	$230.8M	$134.6M	$61.0M
Short-term investments	—	—	—	—	$319.0M	$2.02B	$34.6M	$17.0M	$17.6M	$3.11B
Receivables	$476.0M	$470.0M	$608.0M	$611.0M	$472.0M	$386.0M	$54.0M	$76.2M	$46.0M	$14.7M
Inventory	$43.0M	$45.0M	$46.0M	$59.0M	$42.0M	$44.0M	$18.0M	$20.6M	$16.9M	$11.1M
Other current assets	$397.0M	$366.0M	$386.0M	$394.0M	$4.38B	$3.86B	$291.7M	$228.7M	$35.9M	$15.0M
Total current assets	$1.80B	$1.75B	$2.04B	$2.10B	$5.96B	$6.06B	$604.6M	$573.2M	$251.0M	$101.8M
Property, plant & equipment (net)	$14.36B	$14.81B	$14.76B	$15.24B	$15.26B	$15.19B	$2.80B	$2.90B	$1.52B	$626.6M
Goodwill & intangible assets	$14.43B	$4.13B	$15.51B	$15.72B	$16.00B	$14.15B	$2.02B	$2.37B	$1.74B	$554.3M
Long-term investments	$133.0M	$131.0M	$157.0M	$94.0M	$158.0M	$173.0M	$140.8M	$6.7M	$0	$1.3M
Other non-current assets	$919.0M	$11.77B	$895.0M	$376.0M	$650.0M	$810.0M	$69.3M	$60.8M	$30.6M	$10.1M
Total assets	$31.64B	$32.59B	$33.37B	$33.53B	$38.03B	$36.38B	$5.64B	$5.91B	$3.55B	$1.29B
Liabilities
Accounts payable	$297.0M	$296.0M	$408.0M	$314.0M	$254.0M	$167.0M	$62.0M	$58.5M	$34.8M	$21.6M
Short-term debt	$134.0M	$130.0M	$88.0M	$158.0M	$119.0M	$120.0M	$266.0M	$462,000	$615,000	$4.5M
Deferred revenue	—	−$812.0M	$734.0M	$987.0M	$2.24B	$1.42B	$32.0M	$17.6M	$43.4M	$18.8M
Total current liabilities	$2.25B	$2.27B	$2.69B	$2.67B	$5.30B	$2.51B	$688.0M	$402.2M	$219.1M	$102.0M
Long-term debt	$11.67B	$12.03B	$12.22B	$12.66B	$13.72B	$14.07B	$3.30B	$8.80B	$8.85B	$6.75B
Lease obligations	$13.12B	$12.92B	$12.78B	$12.66B	$12.47B	$12.79B	$10.16B	$10.08B	$9.44B	—
Other long-term liabilities	$14.03B	$13.91B	$13.73B	$14.45B	$14.47B	$14.69B	$539.8M	$0	$0	$0
Total liabilities	$27.95B	$28.21B	$28.65B	$29.78B	$33.49B	$31.35B	$4.52B	$4.88B	$2.60B	$995.6M
Shareholders' equity
Common stock & paid-in capital	—	—	—	—	—	—	$1,000	$1,000	$14.05B	$7.61B
Retained earnings (deficit)	−$3.30B	−$2.80B	−$2.52B	−$3.31B	−$2.41B	−$1.39B	$366.5M	$290.2M	$198.5M	$124.6M
Treasury stock	—	—	—	—	—	—	−$9.1M	−$485.0M	−$152.0M	−$29.0M
Accumulated other comprehensive income	$98.0M	$96.0M	$97.0M	$92.0M	$36.0M	$34.0M	$377,000	$1,000	$79,000	$12,000
Minority interest	$182.0M	$219.0M	$168.0M	$38.0M	—	—	—	$88.0M	$71.0M	$1.76B
Total shareholders' equity	$3.50B	$4.38B	$4.72B	$3.71B	$4.48B	$5.02B	$1.12B	$1.03B	$945.1M	$298.5M
Key figures
Total debt	$26.34B	$25.06B	$25.07B	$25.43B	$26.27B	$26.93B	$3.74B	$8.80B	$8.85B	$6.75B
Net cash (debt)	−$25.46B	−$24.20B	−$24.07B	−$24.39B	−$25.20B	−$25.16B	−$3.50B	−$8.55B	−$8.70B	−$6.69B
Working capital	−$450.0M	−$525.0M	−$645.0M	−$566.0M	$667.0M	$3.55B	−$83.4M	$171.0M	$32.0M	−$287,000
Tangible book value	−$10.92B	$243.0M	−$10.79B	−$12.01B	−$11.52B	−$9.13B	−$903.9M	−$1.34B	−$798.8M	−$255.9M
Book value per share	$16.85	$20.35	$21.85	$17.35	$21.23	$38.58	$14.22	$13.19	$13.88	$6.26
Shares outstanding	208.0M	215.0M	216.0M	214.0M	211.0M	130.0M	78.6M	78.0M	68.1M	47.7M
Current ratio	0.80	0.77	0.76	0.79	1.13	2.41	0.88	1.43	1.15	1.00
Quick ratio	0.60	0.59	0.60	0.62	0.29	0.86	0.43	0.81	0.91	0.74
Debt / equity	7.52	5.73	5.31	6.85	5.86	5.37	3.35	8.55	9.36	22.63
Equity / assets	11.1%	13.4%	14.1%	11.1%	11.8%	13.8%	19.8%	17.4%	26.6%	23.1%

Caesars Entertainment, Inc. quarterly balance sheet
	Jun '26	Mar '26	Dec '25	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24	Mar '24	Dec '23	Sep '23
Assets
Cash & short-term investments	$1.06B	$867.0M	$887.0M	$836.0M	$982.0M	$884.0M	$866.0M	$802.0M	$830.0M	$852.0M	$1.00B	$841.0M
Cash & equivalents	$1.06B	$867.0M	$887.0M	$836.0M	$982.0M	$884.0M	$866.0M	$802.0M	$830.0M	$852.0M	$1.00B	$841.0M
Receivables	$485.0M	$441.0M	$476.0M	$426.0M	$487.0M	$440.0M	$470.0M	$469.0M	$546.0M	$551.0M	$608.0M	$555.0M
Inventory	$49.0M	$47.0M	$43.0M	$41.0M	$44.0M	$43.0M	$45.0M	$43.0M	$45.0M	$44.0M	$46.0M	$45.0M
Other current assets	$382.0M	$445.0M	$397.0M	$429.0M	$415.0M	$419.0M	$366.0M	$586.0M	$402.0M	$290.0M	$386.0M	$419.0M
Total current assets	$1.98B	$1.80B	$1.80B	$1.73B	$1.93B	$1.79B	$1.75B	$1.90B	$1.82B	$1.74B	$2.04B	$1.86B
Property, plant & equipment (net)	$14.12B	$14.23B	$14.36B	$14.50B	$14.65B	$14.67B	$14.81B	$14.89B	$14.86B	$14.80B	$14.76B	$14.70B
Goodwill & intangible assets	$14.40B	$14.38B	$14.43B	$14.64B	$14.67B	$14.70B	$14.73B	$15.16B	$15.35B	$15.48B	$15.51B	$15.64B
Long-term investments	$124.0M	$126.0M	$133.0M	$114.0M	$111.0M	$109.0M	$131.0M	$131.0M	$157.0M	$157.0M	$157.0M	$91.0M
Other non-current assets	$1.12B	$1.12B	$919.0M	$921.0M	$1.12B	$1.14B	$1.17B	$883.0M	$892.0M	$885.0M	$895.0M	$934.0M
Total assets	$31.74B	$31.66B	$31.64B	$31.90B	$32.48B	$32.40B	$32.59B	$32.97B	$33.08B	$33.06B	$33.37B	$33.23B
Liabilities
Accounts payable	$290.0M	$258.0M	$297.0M	$253.0M	$263.0M	$246.0M	$296.0M	$268.0M	$436.0M	$439.0M	$408.0M	$371.0M
Short-term debt	$114.0M	$114.0M	$134.0M	$114.0M	$110.0M	$110.0M	$130.0M	$102.0M	$100.0M	$94.0M	$88.0M	$65.0M
Deferred revenue	—	—	—	—	—	—	$592.0M	—	—	—	$749.0M	—
Total current liabilities	$2.32B	$2.12B	$2.25B	$2.23B	$2.34B	$2.14B	$2.27B	$2.27B	$2.61B	$2.54B	$2.69B	$2.56B
Long-term debt	$11.59B	$11.69B	$11.67B	$11.68B	$12.02B	$12.05B	$12.03B	$12.43B	$12.16B	$12.17B	$12.22B	$12.23B
Lease obligations	$13.16B	$13.13B	$13.12B	$13.06B	$13.03B	$12.93B	$12.92B	$12.86B	$12.83B	$12.79B	$12.78B	$12.72B
Other long-term liabilities	$14.28B	$14.26B	$14.03B	$14.02B	$14.00B	$13.94B	$13.91B	$13.88B	$13.82B	$13.77B	$13.73B	$13.70B
Total liabilities	$28.19B	$28.07B	$27.95B	$27.93B	$28.36B	$28.12B	$28.21B	$28.59B	$28.59B	$28.47B	$28.65B	$28.49B
Shareholders' equity
Retained earnings (deficit)	−$3.46B	−$3.40B	−$3.30B	−$3.05B	−$3.00B	−$2.92B	−$2.80B	−$2.81B	−$2.80B	−$2.68B	−$2.52B	−$2.45B
Accumulated other comprehensive income	$95.0M	$96.0M	$98.0M	$97.0M	$98.0M	$96.0M	$96.0M	$97.0M	$96.0M	$96.0M	$97.0M	$97.0M
Minority interest	$177.0M	$181.0M	$182.0M	$193.0M	$223.0M	—	—	—	—	—	—	—
Total shareholders' equity	$3.38B	$3.42B	$3.50B	$3.78B	$3.90B	$4.05B	$4.16B	$4.18B	$4.30B	$4.40B	$4.55B	$4.60B
Key figures
Total debt	$24.86B	$24.93B	$26.34B	$24.86B	$25.16B	$25.09B	$25.06B	$25.40B	$25.09B	$25.06B	$25.07B	$25.02B
Net cash (debt)	−$23.80B	−$24.06B	−$25.46B	−$24.02B	−$24.18B	−$24.21B	−$24.20B	−$24.60B	−$24.26B	−$24.21B	−$24.07B	−$24.18B
Working capital	−$345.0M	−$318.0M	−$450.0M	−$493.0M	−$411.0M	−$352.0M	−$525.0M	−$367.0M	−$788.0M	−$798.0M	−$645.0M	−$701.0M
Tangible book value	−$11.03B	−$10.97B	−$10.92B	−$10.86B	−$10.77B	−$10.65B	−$10.58B	−$10.98B	−$11.05B	−$11.07B	−$10.96B	−$11.04B
Book value per share	$16.54	$16.75	$17.26	$18.27	$18.64	$19.12	$19.33	$19.43	$19.93	$20.39	$21.07	$21.31
Shares outstanding	204.0M	204.0M	203.0M	207.0M	209.0M	212.0M	215.0M	215.0M	216.0M	216.0M	216.0M	216.0M
Current ratio	0.85	0.85	0.80	0.78	0.82	0.84	0.77	0.84	0.70	0.69	0.76	0.73
Quick ratio	0.67	0.62	0.60	0.57	0.63	0.62	0.59	0.56	0.53	0.55	0.60	0.55
Debt / equity	7.36	7.30	7.52	6.57	6.46	6.19	6.03	6.08	5.83	5.69	5.51	5.43
Equity / assets	10.6%	10.8%	11.1%	11.9%	12.0%	12.5%	12.8%	12.7%	13.0%	13.3%	13.6%	13.9%

Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 17, 2026); data from EODHD.

CZR financial position

At the end of fiscal 2025 (December 31, 2025), Caesars Entertainment had total assets of $31.6 billion (down 2.9% from a year earlier), total liabilities of $28.0 billion and shareholders' equity of $3.5 billion. It held $887.0 million in cash and short-term investments against $26.3 billion of debt, net debt of $25.5 billion. Its current ratio was 0.80. In the latest quarter (ended June 30, 2026) total assets were $31.7 billion and equity $3.4 billion.

Related: CZR income statement, CZR cash flow statement, CZR key metrics. See the CZR stock overview for the latest quote and news.

CZR balance sheet FAQ

What are Caesars Entertainment's total assets?

Caesars Entertainment reported total assets of $31.6 billion at the end of fiscal 2025 (December 31, 2025), compared with $32.6 billion a year earlier.

How much debt does Caesars Entertainment have?

Caesars Entertainment had $26.3 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 7.52.

How much cash does Caesars Entertainment have?

Caesars Entertainment held $887.0 million in cash and short-term investments at the end of fiscal 2025; with $26.3 billion of debt that is net debt of $25.5 billion.

What is Caesars Entertainment's book value?

Caesars Entertainment's shareholders' equity (book value) was $3.5 billion at the end of fiscal 2025, or $16.85 per share.

What is Caesars Entertainment's current ratio?

Caesars Entertainment had current assets of $1.8 billion and current liabilities of $2.3 billion, a current ratio of 0.80 (current liabilities exceed current assets).

How much goodwill does Caesars Entertainment have?

Caesars Entertainment carried $14.4 billion of goodwill and intangible assets, 45.6% of total assets, at the end of fiscal 2025.