Filing Flows › Caesars Entertainment (CZR) › Q3 2025
Caesars Entertainment (CZR) Q3 2025 earnings results (third quarter 2025)
10-Q filed Oct 28, 2025
Caesars Entertainment (CZR) reported revenue of $2.9B for the third quarter 2025 (Q3 2025), -0.2% from a year earlier and -1% from the quarter before. Operating margin was 17.9%, net loss $39.0M (1.4% of revenue).
Caesars Entertainment, Q3 2025: revenue $2.9B (-0.2% year over year), operating margin 17.9%, net loss $39.0M, operating cash flow $318M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.9B | -1% | -0.2% |
| Operating profit | $513M | -2% | — |
| Net earnings | −$39.0M | — | — |
| Operating cash flow | $318M | -31% | +37% |
| Free cash flow | $123M | -47% | — |
What changed
Revenue was $2.9B in Q3 2025, roughly flat year over year and down 1% from the previous quarter. Casino was the largest line at 57% of revenue. Hotel lost $0.03B year over year (down 6%), 600% of the total change.
Operating profit was $0.51B, a 17.9% margin (down 4.5 points year over year). Total costs grew 6% against flat revenue. The quarter ended with a net loss of $0.04B, narrower than the previous quarter's $0.07B loss. Net interest and other expense of $0.58B was the main reason.
Operating cash flow was $0.32B (up 37% year over year). Non-cash charges added back $0.35B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.02B. Capital expenditures of $0.20B left free cash flow of $0.12B.
Questions
What was Caesars Entertainment's revenue in the third quarter 2025?
Caesars Entertainment (CZR) reported revenue of $2.9B for the third quarter 2025 (Q3 2025), -0.2% from a year earlier and -1% from the quarter before.
Was Caesars Entertainment profitable in the third quarter 2025?
Operating profit was $513M (17.9% of revenue) and net loss $39.0M.