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Goodwill and Intangible Assets, net (Tables)

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets and Goodwill

Changes in Carrying Value of Goodwill by Segment
(In millions)			Las Vegas						Regional						Caesars Digital						Managed and Branded						CEI Total
Gross Goodwill:
Balance as of January 1, 2023			$	6,889					$	3,093					$	1,204					$	—					$	11,186
Other			—						—						—						—						—
Balance as of December 31, 2023			6,889						3,093						1,204						—						11,186
Accumulated Impairment:
Balance as of January 1, 2023			—						(182)						—						—						(182)
Impairment			—						(14)						—						—						(14)
Balance as of December 31, 2023			—						(196)						—						—						(196)
Net carrying value, as of December 31, 2023			$	6,889					$	2,897					$	1,204					$	—					$	10,990
Gross Goodwill:
Balance as of January 1, 2024			$	6,889					$	3,093					$	1,204					$	—					$	11,186
Other (a)			(207)						—						—						—						(207)
Balance as of December 31, 2024			6,682						3,093						1,204						—						10,979
Accumulated Impairment:
Balance as of January 1, 2024			—						(196)						—						—						(196)
Impairment			—						(182)						—						—						(182)
Balance as of December 31, 2024			—						(378)						—						—						(378)
Net carrying value, as of December 31, 2024 (b)			$	6,682					$	2,715					$	1,204					$	—					$	10,601

____________________

(a)Sale of the LINQ Promenade; see Note 3.

(b)$1.0 billion of goodwill within the Regional segment and $462 million within the Las Vegas segment is associated with reporting units with zero or negative carrying value.

Changes in Carrying Amount of Intangible Assets Other than Goodwill
			Amortizing												Non-Amortizing												Total
(In millions)			2024						2023						2024						2023						2024						2023
Balance as of January 1			$	946					$	1,060					$	3,577					$	3,654					$	4,523					$	4,714
Impairment			—						—						(120)						(81)						(120)						(81)
Amortization expense			(135)						(144)						—						—						(135)						(144)
Acquisition of developed technology			21						—						—						—						21						—
Acquisition of gaming rights and customer relationships			26						30						—						4						26						34
Other (a)			(2)						—						(180)						—						(182)						—
Balance as of December 31			$	856					$	946					$	3,277					$	3,577					$	4,133					$	4,523

____________________

(a)Includes sale of the WSOP trademark, see Note 3.

Schedule of Finite-Lived Intangible Assets

Gross Carrying Amount and Accumulated Amortization of Intangible Assets Other Than Goodwill
			December 31, 2024																								December 31, 2023
(Dollars in millions)			Useful Life						Gross Carrying Amount						Accumulated Amortization						Net Carrying Amount						Gross Carrying Amount						Accumulated Amortization						Net Carrying Amount
Amortizing intangible assets
Customer relationships			3 - 7 years						$	593					$	(432)					$	161					$	587					$	(360)					$	227
Gaming rights and other			10 - 34 years						262						(42)						220						242						(28)						214
Trademarks			15 years						313						(109)						204						313						(91)						222
Reacquired rights			24 years						250						(38)						212						250						(28)						222
Technology			3 - 6 years						129						(70)						59						110						(49)						61
									$	1,547					$	(691)					856						$	1,502					$	(556)					946
Non-amortizing intangible assets
Trademarks																					1,771																		1,998
Gaming rights																					983																		1,056
Caesars Rewards																					523																		523
																					3,277																		3,577
Total amortizing and non-amortizing intangible assets, net																					$	4,133																	$	4,523

Schedule of Indefinite-Lived Intangible Assets

Gross Carrying Amount and Accumulated Amortization of Intangible Assets Other Than Goodwill
			December 31, 2024																								December 31, 2023
(Dollars in millions)			Useful Life						Gross Carrying Amount						Accumulated Amortization						Net Carrying Amount						Gross Carrying Amount						Accumulated Amortization						Net Carrying Amount
Amortizing intangible assets
Customer relationships			3 - 7 years						$	593					$	(432)					$	161					$	587					$	(360)					$	227
Gaming rights and other			10 - 34 years						262						(42)						220						242						(28)						214
Trademarks			15 years						313						(109)						204						313						(91)						222
Reacquired rights			24 years						250						(38)						212						250						(28)						222
Technology			3 - 6 years						129						(70)						59						110						(49)						61
									$	1,547					$	(691)					856						$	1,502					$	(556)					946
Non-amortizing intangible assets
Trademarks																					1,771																		1,998
Gaming rights																					983																		1,056
Caesars Rewards																					523																		523
																					3,277																		3,577
Total amortizing and non-amortizing intangible assets, net																					$	4,133																	$	4,523

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Estimated Five-Year Amortization
			Years Ended December 31,
(In millions)			2025						2026						2027						2028						2029
Estimated annual amortization expense			$	132					$	132					$	86					$	45					$	44

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