The following table illustrates the reconciliation of the numerators and denominators of the basic and diluted net income (loss) per share computations for the three and nine months ended September 30, 2026 and 2025:


	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions, except per share data)	2026		2025		2026		2025


Net loss attributable to Caesars	$	(123)	$	(55)	$	(283)	$	(252)
Shares outstanding:
Weighted average shares outstanding – basic	204		207		204		209



Weighted average shares outstanding – diluted	204		207		204		209



Net loss per common share attributable to common stockholders – basic:	$	(0.61)	$	(0.27)	$	(1.39)	$	(1.20)



Net loss per common share attributable to common stockholders – diluted:	$	(0.61)	$	(0.27)	$	(1.39)	$	(1.20)

For a period in which the Company generated a net loss attributable to Caesars, the weighted average shares outstanding - basic was used in calculating diluted loss per share because using diluted shares would have been anti-dilutive to loss per share.


Weighted-Average Number of Anti-Dilutive Shares Excluded from Calculation of Earnings per Share

	Three Months Ended September 30,		Nine Months Ended September 30,
(In millions)	2026	2025	2026	2025
Stock-based compensation awards	6	5	6	5
Total anti-dilutive common stock	6	5	6	5