Filing Flows › Caesars Entertainment (CZR) › Q4 2025
Caesars Entertainment (CZR) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 17, 2026
Caesars Entertainment (CZR) reported revenue of $2.9B for the fourth quarter 2025 (Q4 2025), +4% from a year earlier and +2% from the quarter before. Operating margin was 11.4%, net loss $235M (8.1% of revenue).
Caesars Entertainment, Q4 2025: revenue $2.9B (+4% year over year), operating margin 11.4%, net loss $235M, operating cash flow $304M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.9B | +2% | +4% |
| Operating profit | $331M | -35% | — |
| Net earnings | −$235M | — | — |
| Operating cash flow | $304M | -4% | -2% |
| Free cash flow | $147M | +20% | +390% |
What changed
Revenue was $2.9B in Q4 2025, up 4% year over year and up 2% from the previous quarter. Casino was the largest line at 59% of revenue.
Operating profit was $0.33B, a 11.4% margin (down 12.6 points year over year). Operating profit fell $0.34B even though revenue rose $0.12B versus a year earlier, so costs grew faster than sales. Total costs grew 21% against revenue growth of 4%. The fastest-growing cost line was Other operating costs (+27%). The quarter ended with a net loss of $0.23B, wider than the previous quarter's $0.04B loss. Net interest and other expense of $0.58B was the main reason.
Operating cash flow was $0.30B (down 2% year over year). Non-cash charges added back $0.34B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items added $0.17B. Capital expenditures of $0.16B left free cash flow of $0.15B.
Questions
What was Caesars Entertainment's revenue in the fourth quarter 2025?
Caesars Entertainment (CZR) reported revenue of $2.9B for the fourth quarter 2025 (Q4 2025), +4% from a year earlier and +2% from the quarter before.
Was Caesars Entertainment profitable in the fourth quarter 2025?
Operating profit was $331M (11.4% of revenue) and net loss $235M.