secwatch.observer — SEC 8-K summary
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Issuer:     Caesars Entertainment, Inc. (CZR)
CIK:        0001590895
Form:       8-K
Filed at:   2023-08-01T23:59:59+00:00
Accession:  0001590895-23-000089
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Caesars Q2 net income $920M on $940M tax benefit; Digital reaches positive EBITDA
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- GAAP net income of $920M vs loss of $123M YoY, driven by $940M deferred tax asset valuation allowance release.
- Same-store Adjusted EBITDA of $1.007B, up 3% YoY; Las Vegas EBITDA fell 6.4% to $512M.
- Caesars Digital posted first positive adjusted EBITDA of $11M vs loss of $69M in prior year quarter.
- Net leverage at 4.2x; permanently repaid $250M Baltimore Term Loan on July 17; total debt $12.7B.
- GAAP net revenues $2.9B, up 2.1% on same-store basis from $2.82B.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1590895/000159089523000089/0001590895-23-000089-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1590895/000159089523000089/czr-20230801.htm
  HTML page:      https://secwatch.observer/filing/0001590895-23-000089

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer