Caesars Entertainment, Inc. (CZR) Income Statement
CZR 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsCZR revenue and net income
Where CZR's revenue goes
2025Each bar shows an amount and its share of revenue. CZR kept −4.4% of revenue as net income.
CZR profit margins
CZR growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +2.1% | +2.0% | +25.9% | +31.9% |
| Gross profit | −1.4% | +1.9% | +26.4% | +35.6% |
| Operating income | −9.8% | +6.1% | — | +39.9% |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
CZR quarterly EPS vs estimates
Caesars Entertainment beat the analyst EPS estimate in 0 of the last 8 quarters. Next report: October 27, 2026 (estimate $-0.07).
CZR income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $11.49B | $11.24B | $11.53B | $10.82B | $9.57B | $3.63B | $2.53B | $2.06B | $1.47B | $900.5M |
| Cost of revenue | $5.74B | $5.42B | $5.39B | $5.40B | $4.65B | $1.85B | $1.29B | $1.13B | $806.9M | $546.8M |
| Gross profit | $5.74B | $5.83B | $6.13B | $5.42B | $4.92B | $1.78B | $1.24B | $925.0M | $666.6M | $353.2M |
| Research & development | — | — | — | — | — | — | — | — | $0 | $0 |
| Sales, general & admin | $1.93B | $1.92B | $2.01B | $2.07B | $1.78B | $902.0M | $606.1M | $455.8M | $324.2M | $171.6M |
| Total operating expenses | $3.67B | $3.52B | $3.66B | $3.68B | $3.46B | $2.17B | $829.0M | $615.0M | $572.3M | $265.0M |
| Operating income | $2.08B | $2.30B | $2.47B | $1.74B | $1.46B | −$383.0M | $410.0M | $310.0M | $94.8M | $88.7M |
| Interest income | $20.0M | $11.0M | $12.0M | $12.0M | $16.0M | — | $277.5M | $174.3M | $99.8M | $50.9M |
| Interest expense | $2.32B | $2.38B | $2.35B | $2.28B | $2.31B | $1.20B | $286.2M | $171.7M | $99.8M | $50.9M |
| Income before taxes | −$448.0M | −$124.0M | −$60.0M | −$565.0M | −$1.27B | −$1.61B | $125.0M | $135.6M | −$43.3M | $37.6M |
| Income taxes | −$11.0M | $87.0M | −$888.0M | −$41.0M | −$283.0M | $132.0M | $44.0M | $40.4M | −$117.3M | $13.1M |
| Net income | −$502.0M | −$278.0M | $786.0M | −$899.0M | −$1.02B | −$1.76B | $81.0M | $95.0M | $73.4M | $24.5M |
| EBITDA | $3.29B | $3.58B | $3.56B | $2.92B | $2.17B | $179.0M | $633.0M | $464.0M | $162.3M | $152.0M |
| EPS (diluted) | −$2.17 | −$0.83 | $3.63 | −$2.10 | −$3.70 | −$7.65 | $1.04 | $1.72 | $0.93 | $0.67 |
| Gross margin | 50.0% | 51.8% | 53.2% | 50.1% | 51.4% | 49.1% | 49.0% | 45.0% | 45.2% | 39.2% |
| Operating margin | 18.1% | 20.5% | 21.4% | 16.1% | 15.3% | −10.6% | 16.2% | 15.1% | 6.4% | 9.9% |
| Net margin | −4.4% | −2.5% | 6.8% | −8.3% | −10.6% | −48.4% | 3.2% | 4.6% | 5.0% | 2.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.99B | $2.87B | $2.92B | $2.87B | $2.91B | $2.79B | $2.80B | $2.87B | $2.83B | $2.74B | $2.83B | $2.99B |
| Cost of revenue | $1.49B | $1.43B | $1.48B | $1.46B | $1.42B | $1.38B | $1.40B | $1.35B | $1.32B | $1.35B | $1.38B | $1.36B |
| Gross profit | $1.50B | $1.44B | $1.43B | $1.41B | $1.49B | $1.41B | $1.40B | $1.52B | $1.51B | $1.40B | $1.44B | $1.63B |
| Sales, general & admin | $521.0M | $504.0M | $483.0M | $483.0M | $477.0M | $483.0M | $477.0M | $478.0M | $545.0M | $578.0M | $476.0M | $528.0M |
| Total operating expenses | $970.0M | $939.0M | $908.0M | $910.0M | $959.0M | $924.0M | $734.0M | $875.0M | $1.00B | $911.0M | $907.0M | $909.0M |
| Operating income | $529.0M | $504.0M | $525.0M | $503.0M | $526.0M | $488.0M | $669.0M | $644.0M | $506.0M | $485.0M | $536.0M | $724.0M |
| Interest income | $3.0M | $2.0M | $2.0M | $5.0M | $7.0M | $6.0M | $5.0M | $2.0M | $2.0M | $2.0M | $2.0M | $3.0M |
| Interest expense | $576.0M | $571.0M | $577.0M | $581.0M | $586.0M | $580.0M | $591.0M | $598.0M | $596.0M | $592.0M | $583.0M | $584.0M |
| Income before taxes | −$53.0M | −$71.0M | −$245.0M | −$64.0M | −$52.0M | −$87.0M | $43.0M | $52.0M | −$92.0M | −$127.0M | −$40.0M | $139.0M |
| Income taxes | −$12.0M | $12.0M | −$10.0M | −$25.0M | $13.0M | $11.0M | $19.0M | $43.0M | $10.0M | $15.0M | $16.0M | $47.0M |
| Net income | −$62.0M | −$98.0M | −$250.0M | −$55.0M | −$82.0M | −$115.0M | $11.0M | −$9.0M | −$122.0M | −$158.0M | −$72.0M | $74.0M |
| EBITDA | $878.0M | $847.0M | $676.0M | $869.0M | $898.0M | $850.0M | $979.0M | $976.0M | $830.0M | $792.0M | $861.0M | $1.04B |
| EPS (diluted) | −$0.30 | −$0.40 | −$1.23 | −$0.26 | −$0.20 | −$0.48 | −$0.47 | −$0.04 | $0.12 | −$0.44 | −$0.34 | $0.34 |
| Gross margin | 50.1% | 50.3% | 49.1% | 49.3% | 51.1% | 50.5% | 50.1% | 52.9% | 53.3% | 50.9% | 51.1% | 54.5% |
| Operating margin | 17.7% | 17.6% | 18.0% | 17.5% | 18.1% | 17.5% | 23.9% | 22.4% | 17.9% | 17.7% | 19.0% | 24.2% |
| Net margin | −2.1% | −3.4% | −8.6% | −1.9% | −2.8% | −4.1% | 0.4% | −0.3% | −4.3% | −5.8% | −2.5% | 2.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in CZR's financial statements (latest annual report filed February 17, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
CZR financial results
In fiscal year 2025 (ended December 31, 2025), Caesars Entertainment reported revenue of $11.5 billion, up 2.1% from the year before. It had a net loss of $502.0 million, a net profit margin of −4.4%. Diluted earnings per share came to −$2.17. Over five years revenue grew at an average rate of 25.9% a year.
See the CZR stock overview for the latest quote and news, or the CZR chart for price history and technical indicators.
CZR income statement FAQ
What is Caesars Entertainment's annual revenue?
Caesars Entertainment reported total revenue of $11.5 billion for fiscal year 2025, which ended on December 31, 2025. That was up 2.1% from $11.2 billion the previous year.
Is Caesars Entertainment profitable?
No. Caesars Entertainment reported a net loss of $502.0 million in fiscal 2025, a net profit margin of −4.4%; its operating margin was 18.1%.
What is Caesars Entertainment's gross margin?
Caesars Entertainment's gross margin was 50.0% in fiscal 2025: for every $100 of revenue, Caesars Entertainment kept $50 after the direct cost of its products and services.
How fast is Caesars Entertainment growing?
Revenue grew 25.9% a year on average over the last five fiscal years, from $3.6 billion to $11.5 billion.
What are Caesars Entertainment's earnings per share?
Caesars Entertainment earned $-2.17 per diluted share in fiscal 2025, compared with $-0.83 a year earlier.
When will Caesars Entertainment report its next earnings?
Caesars Entertainment is expected to report results for the quarter ending September 30, 2026 on October 27, 2026 after the market closes.
When does Caesars Entertainment's fiscal year end?
Caesars Entertainment's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 17, 2026.