# Caesars Entertainment, Inc.

Summary updated: 2026-10-02T16:16:15.229078Z
Canonical: https://finbar.com/research/companies/caesars-entertainment-inc

## Overview

Caesars Entertainment, Inc. is a gaming and hospitality company whose core business is operating casinos, complemented by hotels, dining, bars, entertainment, racing, retail and online gaming and sports wagering. Its products include casino gaming and the Caesars-branded sports betting, racebook and online casino apps. The company describes its mission as “Create The Extraordinary.” [1](https://app.finbar.com/go?id=P105065138)[2](https://app.finbar.com/go?id=P75887236)[3](https://app.finbar.com/go?id=P46969676)[4](https://app.finbar.com/go?id=P33531319)[5](https://app.finbar.com/go?id=P74761204)[6](https://app.finbar.com/go?id=P17417608)[7](https://www.caesars.com/careers/we-are-caesars)

As of December 31, 2025, Caesars owned, leased or managed 52 properties across 18 U.S. states, and its wagering products operated in multiple North American jurisdictions. FY2025 net revenue was $11.486 billion; a secondary company-data source reports 50,000 employees as of December 31, 2025. Caesars traces its origins to the Eldorado Hotel Casino, opened by the Carano family in Reno in 1973. [4](https://app.finbar.com/go?id=P33531319)[5](https://app.finbar.com/go?id=P74761204)[8](https://app.finbar.com/go?id=T2847652)[9](https://stockanalysis.com/stocks/czr/employees/)[1](https://app.finbar.com/go?id=P105065138)
[1](https://app.finbar.com/go?id=P105065138)[2](https://app.finbar.com/go?id=P75887236)[3](https://app.finbar.com/go?id=P46969676)[4](https://app.finbar.com/go?id=P33531319)[5](https://app.finbar.com/go?id=P74761204)[6](https://app.finbar.com/go?id=P17417608)[7](https://www.caesars.com/careers/we-are-caesars)[8](https://app.finbar.com/go?id=T2847652)[9](https://stockanalysis.com/stocks/czr/employees/)[7](https://www.caesars.com/careers/we-are-caesars)[9](https://stockanalysis.com/stocks/czr/employees/)

## Products & services

Caesars’ products include casino gaming, hotel stays, food and beverage, entertainment, and convention services. Its casino offerings include slots and table games across a portfolio of properties; Caesars Palace Las Vegas, for example, reported 1,310 slots and 170 table games. The company reported approximately 45,600 guest rooms and suites, and hotel revenue represented about 17% of 2025 net revenue. [4](https://app.finbar.com/go?id=P33531319)[10](https://app.finbar.com/go?id=T13665851)[11](https://app.finbar.com/go?id=P32592703)

Digital products include Caesars Sportsbook, Caesars Racebook, Caesars Palace Online Casino, and Horseshoe Online Casino. Sportsbook offers pre-match and live wagering, player props, and same-game parlays; the Racebook supports pari-mutuel wagering at more than 300 racetracks and race livestreaming. Caesars’ Liberty platform powers Sportsbook and its two online casino apps, with a universal wallet linking funds and Caesars Rewards. [4](https://app.finbar.com/go?id=P33531319)[12](https://app.finbar.com/go?id=P104086707)[6](https://app.finbar.com/go?id=P17417608) Caesars Rewards members can earn credits through qualifying gaming, hotel, dining, retail, and partner activity, and redeem them for items including rooms, food and beverage, merchandise, free play, entertainment, and travel. [13](https://app.finbar.com/go?id=P30052563)

For the six months ended June 30, 2026, Caesars reported $5.863 billion in consolidated net revenue: casino $3.425 billion (about 58%), food and beverage $850 million (about 15%), hotel $982 million (about 17%), and other $606 million (about 10%). Caesars Digital generated $725 million, about 12% of consolidated revenue; that amount is included within the casino and other categories, rather than being an additional revenue category. [14](https://app.finbar.com/go?id=T16470441) Convention services can include paid meeting space, food and beverage, and audiovisual services. [15](https://app.finbar.com/go?id=P63669653)
[4](https://app.finbar.com/go?id=P33531319)[10](https://app.finbar.com/go?id=T13665851)[10](https://app.finbar.com/go?id=T13665851)[11](https://app.finbar.com/go?id=P32592703)[12](https://app.finbar.com/go?id=P104086707)[6](https://app.finbar.com/go?id=P17417608)[13](https://app.finbar.com/go?id=P30052563)[14](https://app.finbar.com/go?id=T16470441)[14](https://app.finbar.com/go?id=T16470441)[14](https://app.finbar.com/go?id=T16470441)[14](https://app.finbar.com/go?id=T16470441)[14](https://app.finbar.com/go?id=T16470441)[14](https://app.finbar.com/go?id=T16470441)[15](https://app.finbar.com/go?id=P63669653)

## Geographic presence

Caesars Entertainment’s casino and resort operations span 18 U.S. states: Arizona, California, Colorado, Florida, Iowa, Illinois, Indiana, Louisiana, Maryland, Missouri, Mississippi, Nebraska, New Jersey, Nevada, Ohio, Pennsylvania, Virginia and North Carolina. Its footprint also includes Caesars Windsor in Ontario, Canada; Caesars assumed operating responsibility for that property in March 2026. The property schedules include owned, leased, managed and branded operations. [10](https://app.finbar.com/go?id=T13665851)[16](https://app.finbar.com/go?id=T13638496)[17](https://app.finbar.com/go?id=P143941321)

For FY2025, reported net revenue was $11.486 billion: Regional contributed $5.756 billion (50.1%), Las Vegas $4.049 billion (35.3%), Caesars Digital $1.408 billion (12.3%), and Managed and Branded $279 million (2.4%); Corporate and Other was negative $6 million. These are business-segment figures, not revenue by country or state. [18](https://app.finbar.com/go?id=T6278659) As of June 30, 2026, the company reported retail and online sports wagering in 34 North American jurisdictions, including online wagering in 27, and iGaming in five jurisdictions. [19](https://app.finbar.com/go?id=P143941022) Its main headquarters is in Reno, Nevada; its investor contact address is in Las Vegas, Nevada. [20](https://investor.caesars.com/investor-faqs)[21](https://investor.caesars.com/contact-us)
[10](https://app.finbar.com/go?id=T13665851)[16](https://app.finbar.com/go?id=T13638496)[17](https://app.finbar.com/go?id=P143941321)[18](https://app.finbar.com/go?id=T6278659)[19](https://app.finbar.com/go?id=P143941022)[20](https://investor.caesars.com/investor-faqs)[21](https://investor.caesars.com/contact-us)

## Business segments

Caesars Entertainment reports four business segments: Las Vegas, Regional, Caesars Digital, and Managed and Branded. In fiscal 2025, their shares of consolidated net revenue were approximately 35.3% ($4.049 billion), 50.1% ($5.756 billion), 12.3% ($1.408 billion), and 2.4% ($279 million), respectively. [22](https://app.finbar.com/go?id=P143941332)[23](https://app.finbar.com/go?id=T13326535) Las Vegas comprises the company’s Las Vegas casino-resort properties; Regional comprises casino properties outside Las Vegas, including Caesars Windsor, which joined the segment after Caesars assumed operations there in March 2026. [24](https://app.finbar.com/go?id=T6651349)[25](https://app.finbar.com/go?id=T16470451)[17](https://app.finbar.com/go?id=P143941321)

Caesars Digital encompasses retail and online sports betting, iGaming, horse racing, and online poker. [19](https://app.finbar.com/go?id=P143941022) Managed and Branded covers the company’s managed and branded properties. [24](https://app.finbar.com/go?id=T6651349) Caesars also presents Corporate and Other separately from the four reportable segments; it includes unallocated corporate overhead and other adjustments, including intersegment eliminations. In 2025, Corporate and Other revenue was negative $6 million, or approximately –0.1% of consolidated net revenue. [26](https://app.finbar.com/go?id=P43253754)[23](https://app.finbar.com/go?id=T13326535)
[22](https://app.finbar.com/go?id=P143941332)[23](https://app.finbar.com/go?id=T13326535)[23](https://app.finbar.com/go?id=T13326535)[23](https://app.finbar.com/go?id=T13326535)[23](https://app.finbar.com/go?id=T13326535)[24](https://app.finbar.com/go?id=T6651349)[25](https://app.finbar.com/go?id=T16470451)[17](https://app.finbar.com/go?id=P143941321)[19](https://app.finbar.com/go?id=P143941022)[26](https://app.finbar.com/go?id=P43253754)[23](https://app.finbar.com/go?id=T13326535)

## Company history

The Caesars legacy traces to 1937, when Bill Harrah opened a bingo club in Reno; Caesars Palace opened in Las Vegas in 1966. These landmarks belong to the Harrah’s and Caesars brands’ history, which predates today’s Caesars Entertainment, Inc. [27](https://www.caesars.com/corporate) [28](https://www.caesars.com/las-vegas/explore/travel/caesars-palace-still-defines-las-vegas) Eldorado Resorts, the corporate predecessor of today’s company, began with the Carano family’s opening of the Eldorado Hotel Casino in Reno in 1973. [29](https://app.finbar.com/go?id=P53838790)

Harrah’s acquired Caesars Entertainment in 2005, and the combined company later took the Caesars Entertainment Corporation name. In 2008, the business was acquired by Apollo- and TPG-affiliated entities. [30](https://investor.caesars.com/static-files/84ab0369-93e6-4b5e-bc65-bcacb97c26af) [31](https://investor.caesars.com/static-files/28847e6e-95fb-4692-9385-90f645653592) Eldorado expanded through acquisitions including MTR Gaming Group, Isle of Capri Casinos and Tropicana Entertainment between 2014 and 2018. [29](https://app.finbar.com/go?id=P53838790) [32](https://app.finbar.com/go?id=P179226309) [33](https://app.finbar.com/go?id=P175669006) Separately, Caesars’ operating subsidiary CEOC entered Chapter 11 in 2015 and emerged in 2017, when VICI Properties was spun off. [34](https://investor.caesars.com/news-releases/news-release-details/caesars-entertainment-operating-co-commences-voluntary-chapter) [35](https://www.sec.gov/Archives/edgar/data/1705696/000119312517307477/d470550dex991.htm)

Eldorado agreed to acquire Caesars Entertainment Corporation in 2019 and completed the merger on July 20, 2020. Eldorado Resorts became Caesars Entertainment, Inc., while the acquired predecessor became its subsidiary, Caesars Holdings, Inc.; the transaction brought the two casino groups together under the Caesars name. [36](https://app.finbar.com/go?id=P179226262) [37](https://app.finbar.com/go?id=P175668027) [38](https://app.finbar.com/go?id=P175668028) [39](https://newsroom.caesars.com/press-releases/press-release-details/2020/Eldorado-Resorts-and-Caesars-Entertainment-Complete-Merger-07-20-2020/default.aspx) In 2021, Caesars completed its acquisition of William Hill, adding a major sports wagering and online-gaming business. [40](https://app.finbar.com/go?id=P4058966)
[27](https://www.caesars.com/corporate)[28](https://www.caesars.com/las-vegas/explore/travel/caesars-palace-still-defines-las-vegas)[29](https://app.finbar.com/go?id=P53838790)[30](https://investor.caesars.com/static-files/84ab0369-93e6-4b5e-bc65-bcacb97c26af)[31](https://investor.caesars.com/static-files/28847e6e-95fb-4692-9385-90f645653592)[32](https://app.finbar.com/go?id=P179226309)[33](https://app.finbar.com/go?id=P175669006)[34](https://investor.caesars.com/news-releases/news-release-details/caesars-entertainment-operating-co-commences-voluntary-chapter)[35](https://www.sec.gov/Archives/edgar/data/1705696/000119312517307477/d470550dex991.htm)[36](https://app.finbar.com/go?id=P179226262)[37](https://app.finbar.com/go?id=P175668027)[38](https://app.finbar.com/go?id=P175668028)[39](https://newsroom.caesars.com/press-releases/press-release-details/2020/Eldorado-Resorts-and-Caesars-Entertainment-Complete-Merger-07-20-2020/default.aspx)[40](https://app.finbar.com/go?id=P4058966)[27](https://www.caesars.com/corporate)[28](https://www.caesars.com/las-vegas/explore/travel/caesars-palace-still-defines-las-vegas)[30](https://investor.caesars.com/static-files/84ab0369-93e6-4b5e-bc65-bcacb97c26af)[31](https://investor.caesars.com/static-files/28847e6e-95fb-4692-9385-90f645653592)[34](https://investor.caesars.com/news-releases/news-release-details/caesars-entertainment-operating-co-commences-voluntary-chapter)[35](https://www.sec.gov/Archives/edgar/data/1705696/000119312517307477/d470550dex991.htm)[39](https://newsroom.caesars.com/press-releases/press-release-details/2020/Eldorado-Resorts-and-Caesars-Entertainment-Complete-Merger-07-20-2020/default.aspx)

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40. [Caesars Entertainment, Inc. — Full financial report (2021 Y)](https://app.finbar.com/go?id=P4058966)

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