Caesars Entertainment, Inc. filings document regulatory disclosures for a casino-resort operator with common stock listed on Nasdaq under CZR. Form 8-K reports include quarterly and annual operating results, segment commentary for Las Vegas, Regional and Caesars Digital operations, liquidity, debt and other material events.
The company’s proxy materials cover annual-meeting matters, director elections, governance practices, executive compensation and shareholder voting procedures. Other filings record board changes, capital-structure actions involving senior notes and registered securities information tied to its gaming, hospitality and digital wagering operations.
Caesars Entertainment chief accounting and administrative officer Stephanie Lepori reported performance-based equity vesting and related tax withholding. She acquired 3,986 shares of common stock at $0.00 per share from earned restricted stock units granted in 2023. To cover taxes, 1,569 shares were disposed of at $18.95 per share, leaving her with 81,650 directly held shares.
Caesars Entertainment, Inc. outlines its 2025 annual report, describing a large, diversified gaming and hospitality business built around casinos and fast-growing digital betting. The company operates 52 domestic properties in 18 states and runs sports betting in 34 jurisdictions, with iGaming in five.
Casino operations, including retail and online sports betting and iGaming, generated about 58% of 2025 net revenues, with food and beverage contributing roughly 15% and hotels about 17%. Caesars highlights its Caesars Rewards loyalty program, Liberty technology platform, and multiple branded apps as key drivers of customer engagement.
The filing also discusses heavy competition from other casinos and online operators, sensitivity to economic downturns and seasonality, extensive gaming and regulatory oversight, rising ESG and climate expectations, and cybersecurity risks, including a previously disclosed data incident. Caesars reports approximately 50,000 team members and emphasizes labor relations, corporate social responsibility, and long-term emissions-reduction goals.
Caesars Entertainment reported modest revenue growth but wider losses for the fourth quarter and full year 2025. Fourth quarter GAAP net revenues were $2.9 billion versus $2.8 billion a year earlier, while GAAP net loss was $250 million compared with net income of $11 million, largely due to prior-year asset sale gains of over $350 million.
For 2025, GAAP net revenues rose to $11.5 billion from $11.2 billion, but the GAAP net loss increased to $502 million from $278 million, again reflecting large 2024 divestiture gains. Same-store Adjusted EBITDA was $901 million in the quarter (up from $882 million) and $3.6 billion for the year (slightly below $3.7 billion).
Caesars Digital was a standout, with Adjusted EBITDA of $85 million in the quarter versus $20 million and $236 million for the year versus $117 million, showing strong improvement in the online business. As of December 31, 2025, total debt was $11.9 billion and cash and cash equivalents were $887 million, with net debt of $11.0 billion. Since mid‑2024, the company repurchased 14.7 million shares for $420 million.
Capital Research Global Investors reports beneficial ownership of 9,915,236 shares of Caesars Entertainment common stock, representing 4.9% of the class. These shares are held with sole voting and dispositive power and reflect a belief that 204,107,943 shares were outstanding as of the reporting date. The investor certifies the position is held in the ordinary course of business and not for the purpose of changing or influencing control of Caesars Entertainment.
Caesars Entertainment, Inc. Chief Marketing Officer Josh Jones reported vesting of restricted stock units and related share transactions. On January 29, 2026, three batches of restricted stock units totaling 10,469 units converted into the same number of Caesars common shares at $0 exercise price.
On the same date, 4,320 common shares were disposed of at $21.28 per share, and Jones’ directly held Caesars common stock position stood at 58,083 shares after these transactions. The restricted stock units were granted between 2023 and 2025 under the company’s Amended and Restated 2015 Equity Incentive Plan and do not expire.
Caesars Entertainment, Inc. Chief Legal Officer Edmund L. Quatmann Jr reported equity-related transactions in company stock. On January 29, 2026, multiple installments of restricted stock units vested and converted into common shares on a one-for-one basis under the Amended and Restated 2015 Equity Incentive Plan.
These vestings included 5,605, 7,292, and 10,372 restricted stock units granted in 2023, 2024, and 2025, respectively, converting into the same number of common shares at an exercise price of $0. Following a related acquisition transaction of 23,269 common shares and a disposition of 10,252 common shares at $21.28 per share, Quatmann directly owned 97,360 shares of Caesars Entertainment common stock.
Caesars Entertainment Exec. Chairman Gary L. Carano reported equity award activity on January 29, 2026. He exercised previously granted restricted stock units into 9,223 shares of common stock and had 4,011 shares of common stock withheld at $21.28 per share, typically for tax obligations. After these transactions, he directly held 280,246 shares of Caesars common stock.
In addition to his direct holdings, the filing lists 20,000 shares held by a trust and 40,000 shares held by his spouse. It also reports 8,604,325 shares owned by Recreational Enterprises, Inc. (REI), an entity in which he has ownership interests; he disclaims beneficial ownership of those REI shares.
Caesars Entertainment CAO & Chief Administrative Officer Stephanie Lepori reported equity transactions involving company stock. On January 29, 2026, she exercised vested restricted stock units, converting 21,072 RSUs into common stock at an exercise price of $0 per share.
On the same date, she disposed of 8,387 shares of Caesars Entertainment common stock in a transaction coded "F" at $21.28 per share. After these transactions, she directly held 79,233 shares of Caesars Entertainment common stock.
Caesars Entertainment President and COO Anthony L. Carano reported equity award activity on January 29, 2026. He acquired 53,398 shares of common stock at $0 per share through the exercise of previously granted restricted stock units, then disposed of 21,014 shares at $21.28 per share, leaving 302,867 common shares held directly.
On the same date, several tranches of restricted stock units converted into common stock on a one-for-one basis. Grants made on January 27, 2023, January 26, 2024, and January 24, 2025 each had installments vest on January 29, 2026, leaving 45,690 restricted stock units directly held.
Caesars Entertainment (CZR) CEO and director Thomas Reeg reported multiple equity award vestings and related share transactions on January 29, 2026. Restricted stock units converting into common stock on a one-for-one basis vested from grants made in 2023, 2024, and 2025 under the Amended and Restated 2015 Equity Incentive Plan.
An irrevocable family trust associated with Reeg acquired 67,185 shares through option-style RSU conversions at $0 and had 26,438 shares withheld at $21.28 per share to cover taxes, ending with 362,231 indirectly held common shares. Reeg directly acquired 49,269 shares at $0 and had 19,388 shares withheld at $21.28 for taxes, finishing with 270,300 directly held common shares plus 6,240 shares held indirectly in a 401(k) plan. Following these transactions, 34,639 restricted stock units remained indirectly held by the trust and 98,540 restricted stock units were held directly.