
Changes in Carrying Value of Goodwill and Other Intangible Assets
			Non-Amortizing Intangible Assets
(In millions)	Amortizing Intangible Assets		Goodwill		Other
Balances as of December 31, 2025	$	730	$	10,441	$	3,255

Amortization expense	(67)		—		—
In-place leases	51		—		—
Other	(10)		—		—

Balances as of June 30, 2026	$	704	$	10,441	$	3,255


Gross Carrying Value and Accumulated Amortization of Intangible Assets Other Than Goodwill
	June 30, 2026							December 31, 2025
(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	1 - 7 years	$	595	$	(529)	$	66	$	595	$	(495)	$	100
Gaming rights and other	10 - 34 years	248		(60)		188		262		(57)		205
Trademarks	15 years	313		(136)		177		313		(127)		186
Reacquired rights	24 years	250		(54)		196		250		(49)		201
Technology	3 - 6 years	134		(108)		26		134		(96)		38
In-place leases	3 - 15 years	51		—		51		—		—		—
		$	1,591	$	(887)	704		$	1,554	$	(824)	730

Non-amortizing intangible assets other than Goodwill
Trademarks						1,749						1,749
Gaming rights						983						983
Caesars Rewards						523						523

						3,255						3,255
Total amortizing and non-amortizing intangible assets other than Goodwill, net						$	3,959					$	3,985

Amortization expense with respect to intangible assets for both the three months ended June 30, 2026 and 2025 totaled $33 million, and for the six months ended June 30, 2026 and 2025 totaled $67 million and $66 million, respectively, which is included in Depreciation and amortization in the Statements of Operations.