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Caesars Entertainment, Inc. CZR Managed And Branded — Adjusted EBITDA

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Other financials

Income statement

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Revenue$3.0B+3.0%
Operating income$513.0M-2.5%
Net income-$62.0M+24.4%
EPS (diluted)-$0.30+23.1%

Balance sheet

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Cash & equivalents$965.0M-1.7%
Total debt$24.9B-1.2%
Total equity$3.4B-13.4%
Total assets$31.7B-2.3%

Cash flow

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Operating cash flow$471.0M+1.9%
CapEx$167.0M-27.4%
Free cash flow$304.0M+31.0%

Valuation

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Market cap$6.12B+18.3%
Enterprise value$30.01B+2.2%
P/S0.5×+0.1×

Profitability

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Operating margin15.9%-4.5pp
Net margin-4%-23.5pp
FCF margin5.2%

Returns & leverage

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Return on equity-12.8%-36.2pp
Debt / equity7.4×+0.9×
Current ratio0.9×0.0×

Where this comes from

Reported directly by Caesars Entertainment, Inc. in its filing.

Tagged under the XBRL concept czr:NetIncomeLossIncludingPortionAttributableToNoncontrollingInterestAdjustedEBITDA.

The source filing: Caesars Entertainment, Inc.’s 10-Q, filed July 28, 2026.

Filed
Jul 28, 2026, 4:14 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001590895-26-000028
(In millions)Three Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Net revenues351343725678
Adjusted EBITDA6880137123
Managed and Branded:
Net revenues5774123141
Adjusted EBITDA16172933
Corporate and Other:
Net revenues(2)1(5)2
Adjusted EBITDA(62)(50)(118)(98)

Item 1. Unaudited Financial Statements

FAQ

What is Caesars Entertainment, Inc.'s managed and branded — adjusted EBITDA?
Caesars Entertainment, Inc. (CZR) reported managed and branded — adjusted EBITDA of $16M in Q2 2026.
How has Caesars Entertainment, Inc.'s managed and branded — adjusted EBITDA changed year-over-year?
Caesars Entertainment, Inc.'s managed and branded — adjusted EBITDA decreased by 5.9% year-over-year, from $17M to $16M.
What is the long-term trend for Caesars Entertainment, Inc.'s managed and branded — adjusted EBITDA?
Over 4 years (2021 to 2025), Caesars Entertainment, Inc.'s managed and branded — adjusted EBITDA has grown at a -6.3% compound annual growth rate (CAGR), from $87M to $67M.
What does managed and branded — adjusted EBITDA mean?
This metric measures the operating profitability of the managed and branded segment by excluding non-cash items, interest, taxes, and depreciation. It serves as a key indicator of the segment's operational efficiency and its contribution to the company's overall cash flow generation. Investors use this to evaluate the profitability of the asset-light management business model.

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