8-K
false 0001590895 0001590895 2020-08-06 2020-08-06

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 6, 2020

 

 

Caesars Entertainment, Inc.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   001-36629   46-3657681

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

100 West Liberty Street, Suite 1150

Reno, Nevada

  89501
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code: (775) 328-0100

N/A

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of Each Class

 

Trading
Symbol(s)

 

Name of each exchange
on which registered

Common Stock, $0.00001 par value   CZR   NASDAQ Stock Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

 

 

 


Item 7.01

Regulation FD Disclosure.

On July 20, 2020, Caesars Entertainment, Inc., a Delaware corporation (the “Company” or “New Caesars”), formerly known as Eldorado Resorts, Inc., a Nevada corporation (“Eldorado”), completed its acquisition of Caesars Entertainment Corporation, a Delaware corporation (“Former Caesars”), with Former Caesars continuing as the surviving corporation and a wholly owned subsidiary of the Company (the “Merger”).

The executive decision maker of the Company reviews operating results, assesses performance and makes decisions on a “significant market” basis. Management views each of the Company’s casinos as an operating segment. Operating segments are aggregated based on their similar economic characteristics, types of customers, types of services and products provided, and their management and reporting structure. Prior to the completion of the Merger, the Company’s principal operating activities occurred in five geographic regions and reportable segments. Following the closing of the Merger, the Company’s principal operating activities occur in three geographic regions and reportable segments, in addition to its Corporate and other activities. The reportable segments are based on the similar characteristics of the operating segments within the regions in which they operate.

The following tables set forth Eldorado’s and Former Caesar’s unaudited consolidated historical net revenues, net income (loss) and Adjusted EBITDA (defined below) as previously reported for the fiscal quarters ended March 31, June 30, September 30 and December 31, 2019 and the fiscal quarters ended March 31 and June 30, 2020. Such information has been prepared by the Company to reflect Eldorado’s and Former Caesar’s unaudited consolidated historical net revenues, net income (loss) and Adjusted EBITDA for such quarterly periods.

Tables below with the heading “Combined Eldorado and Former Caesars” present the non-GAAP combined financial information of the Company and Former Caesars for periods prior to the Merger. Additionally, tables with the heading “Combined Eldorado and Former Caesars” present non-GAAP information that excludes the historical results of the following properties which the Company divested prior to the Merger, which together are referred to as the “Divestitures.” Adjustments to operating metrics below are made following the disposal of a property; therefore, such adjustments may not agree to previously reported schedules as new properties are included in the divestiture group. Excluded results are for:

 

 

Presque Isle Downs & Casino (“Presque”) for the period of January 1, 2019 through January 11, 2019;

 

 

Lady Luck Casino Nemacolin (“Nemacolin”) for the period of January 1, 2019 through March 8, 2019;

 

 

Mountaineer Casino, Racetrack & Resort (“Mountaineer”) for the period of January 1, 2019 through December 6, 2019;

 

 

Isle Casino Cape Girardeau (“Cape Girardeau”) for the period of January 1, 2019 through December 6, 2019; and

 

 

Lady Luck Casino Caruthersville (“Caruthersville”) for the period of January 1, 2019 through December 6, 2019.

These non-GAAP adjustments are provided in order to present the historical operations of the reporting units which will continue to operate as part of the combined company. In addition, the operating results of Former Caesars have been adjusted to conform to New Caesars’ methodology of allocating certain corporate expenses between segments.

Such non-GAAP information is based on unaudited internal financial statements and has not been reviewed by the Company’s auditors. Such presentation does not conform with accounting principles generally accepted in the United States (“GAAP”) or the Securities and Exchange Commission rules for proforma presentation; however, we believe that the additional financial information will be helpful to users in comparing current results with results of prior periods. The properties identified as Divestitures may change. This non-GAAP data should not be considered as a substitute for data prepared in accordance with GAAP, but should be viewed in addition to the results of operations reported by the Company.

Adjusted EBITDA, a non-GAAP financial measure, has been presented as a supplemental disclosure because it is a widely used measure of performance and basis for valuation of companies in our industry and we believe that this non-GAAP supplemental information will be helpful in understanding our ongoing operating results. Management has historically used Adjusted EBITDA when evaluating operating performance because we believe that the inclusion or exclusion of certain recurring and non-recurring items is necessary to provide a full understanding of our core operating results and as a means to evaluate period-to-period results. Adjusted EBITDA represents net income (loss) before interest expense, (benefit) provision for income taxes, unrealized (gain) loss on investments and marketable securities, depreciation and amortization, stock-based compensation, impairment charges, transaction expenses, severance expense, selling costs associated with the divestitures of properties, equity in income (loss) of unconsolidated affiliates, (gain) loss on the sale or disposal of property and equipment, (gain) loss related to divestitures, professional and consulting services, sign-on and retention bonuses, business optimization expenses and transformation expenses, litigation awards and settlements, losses on inventory associated with properties temporarily closed as a result of the COVID-19 public health emergency, changes in the fair value of certain derivatives, contract exit or termination

 

2


costs, and regulatory settlements. Adjusted EBITDA also excludes the expense associated with certain of our leases as these transactions were accounted for as financing obligations and the associated expense is included in interest expense. Adjusted EBITDA is not a measure of performance or liquidity calculated in accordance with GAAP, is unaudited and should not be considered an alternative to, or more meaningful than, net income (loss) as an indicator of our operating performance. Uses of cash flows that are not reflected in Adjusted EBITDA include capital expenditures, interest payments, income taxes, debt principal repayments, payments under our GLPI Master Lease and Former Caesars’ leases with VICI and certain regulatory gaming assessments, which can be significant. As a result, Adjusted EBITDA should not be considered as a measure of our liquidity. Other companies that provide EBITDA information may calculate EBITDA differently than we do. The definition of Adjusted EBITDA may not be the same as the definitions used in any of our debt agreements.

Summary - Eldorado

The following table summarizes net revenues, net income (loss) and Adjusted EBITDA of Eldorado for the periods presented (unaudited):

 

     Three Months Ended  
(In millions)    March 31,
2019
     June 30,
2019
     September 30,
2019
     December 31,
2019
    March 31,
2020
    June 30,
2020
 

Net Revenues

   $ 636    $ 637    $ 663    $ 592   $ 473   $ 127

Net Income (Loss)

     38      19      37      (13     (176     (100

Adjusted EBITDA

     167      178      197      155     103     (11

Excluding Divestitures:

               

Net Revenues

   $ 573    $ 581    $ 607    $ 553   $ 473   $ 127

Net Income (Loss)

     31      11      29      (21     (176     (100

Adjusted EBITDA

     154      164      184      147     103     (11

Summary - Former Caesars

The following table summarizes net revenues, net income (loss) and Adjusted EBITDA of Former Caesars for the periods presented (unaudited):

 

     Three Months Ended  
(In millions)    March 31,
2019
    June 30,
2019
    September 30,
2019
    December 31,
2019
    March 31,
2020
     June 30,
2020
(a)
 

Net Revenues

   $ 2,115   $ 2,222   $ 2,236   $ 2,169   $ 1,828    $ 357

Net Income (Loss)

     (218     (315     (360     (305     188      (1,077

Adjusted EBITDA

     562     631     635     583     299      (125

 

(a)

As a result of the Merger, Former Caesars is no longer required to report quarterly results for the three months ended June 30, 2020. These amounts were derived from Former Caesars’ unaudited accounting records which have not been reviewed by the Company’s auditors.

 

3


Summary - Combined Eldorado and Former Caesars

The following table summarizes net revenues, net income (loss) and Adjusted EBITDA on a combined basis for Eldorado and Former Caesars for the periods presented (unaudited):

 

                                                                                                                                         
     Three Months Ended  
(In millions)    March 31,
2019
    June 30,
2019
    September 30,
2019
    December 31,
2019
    March 31,
2020
     June 30,
2020
 

Net Revenues

   $ 2,751   $ 2,859   $ 2,899   $ 2,761   $ 2,301    $ 484

Net Income (Loss)

     (180     (296     (323     (318     12      (1,177

Adjusted EBITDA

     729     809     832     738     402      (136

Excluding Divestitures:

             

Net Revenues

   $ 2,688   $ 2,803   $ 2,843   $ 2,722   $ 2,301    $ 484

Net Income (Loss)

     (187     (304     (331     (326     12      (1,177

Adjusted EBITDA

     716     795     819     730     402      (136

Net Revenue - Eldorado

The following table summarizes Eldorado’s net revenues by segment for the periods presented (unaudited):

 

                                                                                                                                         
     Three Months Ended  
(In millions)    March 31,
2019
     June 30,
2019
     September 30,
2019
     December 31,
2019
     March 31,
2020
     June 30,
2020
 

Regional

   $ 634    $ 635    $ 661    $ 590    $ 471    $ 125

Corporate and Other

     2      2      2      2      2      2
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

   $ 636    $ 637    $ 663    $ 592    $ 473    $ 127
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Divestitures:

                 

Regional

   $ 63    $ 56    $ 56    $ 39    $ —        $ —    
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total (excl. Divestitures)

   $ 573    $ 581    $ 607    $ 553    $ 473    $ 127
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Net Revenue - Former Caesars

The following table summarizes Former Caesars’ net revenues by segment for the periods presented (unaudited):

 

                                                                                                                                         
     Three Months Ended  
(In millions)    March 31,
2019
     June 30,
2019
     September 30,
2019
     December 31,
2019
     March 31,
2020
     June 30,
2020
(a)
 

Las Vegas

   $ 955    $ 1,002    $ 973    $ 989    $ 822    $ 109

Regional

     1,010      1,064      1,119      1,032      874      186

Managed, International, CIE

     146      153      141      146      127      57

Corporate and Other

     4      3      3      2      5      5
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

   $ 2,115    $ 2,222    $ 2,236    $ 2,169    $ 1,828    $ 357
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

 

(a)

As a result of the Merger, Former Caesars is no longer required to report quarterly results for the three months ended June 30, 2020. These amounts were derived from Former Caesars’ unaudited accounting records which have not been reviewed by the Company’s auditors.

 

4


Net Revenue - Combined Eldorado and Former Caesars

The following table summarizes net revenues by segment on a combined basis for Eldorado and Former Caesars for the periods presented (unaudited):

 

                                                                                                                                         
     Three Months Ended  
(In millions)    March 31,
2019
     June 30,
2019
     September 30,
2019
     December 31,
2019
     March 31,
2020
     June 30,
2020
 

Las Vegas

   $ 955    $ 1,002    $ 973    $ 989    $ 822    $ 109

Regional

     1,644      1,699      1,780      1,622      1,345      311

Managed, International, CIE

     146      153      141      146      127      57

Corporate and Other

     6      5      5      4      7      7
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total

   $ 2,751    $ 2,859    $ 2,899    $ 2,761    $ 2,301    $ 484
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Divestitures:

                 

Regional

   $ 63    $ 56    $ 56    $ 39    $ —        $ —    
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total (excl. Divestitures)

   $                 2,688    $                 2,803    $                 2,843    $                 2,722    $                 2,301    $ 484
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Net Income (Loss) - Eldorado

The following table summarizes Eldorado’s net income (loss) by segment for the periods presented (unaudited):

 

                                                                                                                                         
     Three Months Ended  
(In millions)    March 31,
2019
    June 30,
2019
    September 30,
2019
    December 31,
2019
    March 31,
2020
    June 30,
2020
 

Regional

   $ 71   $ 75   $ 88   $ 40   $ (120   $ (73

Corporate and Other

     (33     (56     (51     (53     (56     (27
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total

   $ 38   $ 19   $ 37   $ (13   $ (176   $ (100
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Divestitures:

            

Regional

   $ 7   $ 8   $ 8   $ 8   $ —       $ —    
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total (excl. Divestitures)

   $ 31   $ 11   $ 29   $ (21   $ (176   $ (100
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Income (Loss) - Former Caesars

The following table summarizes Former Caesars’ net income (loss) by segment for the periods presented (unaudited):

 

                                                                                                                                         
     Three Months Ended  
(In millions)    March 31,
2019
    June 30,
2019
    September 30,
2019
    December 31,
2019
    March 31,
2020
    June 30,
2020
(a)
 

Las Vegas

   $ 143   $ 184   $ (237   $ 139   $ 2   $ (250

Regional

     (27     17     49     (85     (213     (326

Managed, International, CIE

                         12     (33     5     5     (13     (11

Corporate and Other

     (346     (483     (177     (364     412     (490
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total

   $ (218   $ (315   $ (360   $ (305   $ 188   $ (1,077
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

(a)

As a result of the Merger, Former Caesars is no longer required to report quarterly results for the three months ended June 30, 2020. These amounts were derived from Former Caesars’ unaudited accounting records which have not been reviewed by the Company’s auditors.

 

5


Net Income (Loss) - Combined Eldorado and Former Caesars

The following table summarizes net income (loss) by segment on a combined basis for Eldorado and Former Caesars for the periods presented (unaudited):

 

                                                                                                                 
     Three Months Ended  
(In millions)    March 31,
2019
    June 30,
2019
    September 30,
2019
    December 31,
2019
    March 31,
2020
    June 30,
2020
 

Las Vegas

   $ 143   $ 184   $ (237   $ 139   $ 2   $ (250

Regional

     44     92     137     (45     (333     (399

Managed, International, CIE

     12     (33     5     5     (13     (11

Corporate and Other

     (379     (539     (228     (417     356     (517
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total

   $ (180   $ (296   $ (323   $ (318   $ 12   $ (1,177
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Divestitures:

            

Regional

   $ 7   $ 8   $ 8   $ 8   $ —       $ —    
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total (excl. Divestitures)

   $ (187   $ (304   $ (331   $ (326   $ 12   $ (1,177
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA - Eldorado

The following table summarizes Eldorado’s Adjusted EBITDA by segment for the periods presented (unaudited):

 

                                                                                                                 
     Three Months Ended  
(In millions)    March 31,
2019
    June 30,
2019
    September 30,
2019
    December 31,
2019
    March 31,
2020
    June 30,
2020
 

Regional

   $ 177   $ 187   $ 205   $ 163   $ 111   $ (3

Corporate and Other

     (10     (9     (8     (8     (8     (8
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total

   $ 167   $ 178   $ 197   $ 155   $ 103   $ (11
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Divestitures:

            

Regional

   $ 13   $ 14   $ 13   $ 8   $ —       $ —    
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total (excl. Divestitures)

   $ 154   $ 164   $ 184   $ 147   $ 103   $ (11
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA - Former Caesars

The following table summarizes Former Caesars’ Adjusted EBITDA by segment for the periods presented (unaudited):

 

                                                                                                                 
     Three Months Ended  
(In millions)    March 31,
2019
    June 30,
2019
    September 30,
2019
    December 31,
2019
    March 31,
2020
    June 30,
2020(a)
 

Las Vegas

   $ 360   $ 389   $ 356   $ 363   $ 217   $ (44

Regional

     233     270     303     247     115     (40

Managed, International, CIE

     17     23     14     20     (1     (1

Corporate and Other

     (48     (51     (38     (47     (32     (40
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total

   $               562   $             631   $               635   $             583   $             299   $           (125
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

(a)

As a result of the Merger, Former Caesars is no longer required to report quarterly results for the three months ended June 30, 2020. These amounts were derived from Former Caesars’ unaudited accounting records which have not been reviewed by the Company’s auditors.

 

6


Adjusted EBITDA - Combined Eldorado and Former Caesars

The following table summarizes Adjusted EBITDA by segment on a combined basis for Eldorado and Former Caesars for the periods presented (unaudited), which includes adjustments described that have been made to conform to New Caesars’ methodology of allocating certain corporate expenses between segments:

 

     Three Months Ended  
(In millions)    March 31, 2019     June 30, 2019     September 30,
2019
    December 31,
2019
    March 31,
2020
    June 30, 2020  

Las Vegas(a)

   $ 366   $ 395   $ 361   $ 368   $ 221   $ (40

Regional(a)

     426     471     520     422     239     (34

Managed, International, CIE(a)

     19     24     16     22     1     —    

Corporate and Other(a)

     (82     (81     (65     (74     (59     (62
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total

   $ 729   $ 809   $ 832   $ 738   $ 402   $ (136
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Divestitures:

            

Regional

   $ 13   $ 14   $ 13   $ 8   $ —       $ —    
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total (excl. Divestitures)

   $               716   $             795   $               819   $             730   $             402   $           (136
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

(a)

We have reclassified certain corporate overhead costs which were historically charged to properties within our segments to the Corporate and Other segment. These costs primarily include centralized marketing expenses, redundant executive and management payroll and benefits expenses, centralized contract labor expenses, and corporate rent expenses.

 

7


Adjusted EBITDA Reconciliation - Former Caesars

The following table summarizes Adjusted EBITDA for Former Caesars for the periods presented, in addition to reconciling net income (loss) attributable to Former Caesars to Adjusted EBITDA (unaudited):

 

                                                           
     Three Months Ended  
(In millions)    March 31,
2019
    June 30,
2019
    September 30,
2019
    December 31,
2019
    March 31,
2020
    June 30,
2020
(a)
 

Net income (loss) attributable to Former Caesars

   $ (217   $ (315   $ (359   $ (304   $ 189   $       (1,074

Net loss attributable to noncontrolling interests

     (1     —         (1     (1     (1     (3

Income tax (benefit) provision

     (29     (60     (22     (30     54     (227

Other (income) loss

     138     301     (27     175     (641     528

Interest expense

     349     343     341     337     333     344

Depreciation and amortization

     247     241     255     278     256     250

Impairment of goodwill

     —         —         —         27     —         —    

Impairment of tangible and other intangible assets

     —         50     380     11     65     —    

Other operating costs

     29     24     33     50     21     29

Stock-based compensation expense

     21     22     19     26     10     13

Other items

     25     25     16     14     13     15
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA

   $ 562   $ 631   $ 635   $ 583   $ 299   $ (125
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

(a)

As a result of the Merger, Former Caesars is no longer required to report quarterly results for the three months ended June 30, 2020. These amounts were derived from Former Caesars’ unaudited accounting records which have not been reviewed by the Company’s auditors.

 

8


Adjusted EBITDA Reconciliation - Combined Eldorado and Former Caesars

The following table summarizes Adjusted EBITDA on a combined basis for Eldorado and Former Caesars for the periods presented, in addition to reconciling net income (loss) to Adjusted EBITDA (unaudited):

 

     Three Months Ended  
(In millions)    March 31,
2019
    June 30,
2019
     September 30,
2019
    December 31,
2019
    March 31,
2020
    June 30,
2020
 

Net income (loss)

   $ 38   $ 19    $ 37   $ (13   $ (176   $ (100

Former Caesars Adjusted EBITDA, pre-acquisition(a)

     562     631      635     583     299     (125

Income tax (benefit) provision

     10     10      18     6     (37     (34

Unrealized (gain) loss on investments

     2     1      (3     (8     24     (13

Loss on retirement of debt, net

     —         —          1     6     —         —    

Interest expense, net

     74     71      71     69     66     68

Depreciation and amortization

     58     57      53     55     51     49

Impairment of goodwill

     —         —          —         —         100     —    

Impairment of tangible and other intangible assets

     —         —          —         —         61     —    

Transaction expense

     2     7      12     63     9     13

Stock-based compensation expense

     5     7      4     4     6     4

Other items

     (22     6      4     (27     (1     2
  

 

 

   

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA

   $ 729   $ 809    $ 832   $ 738   $ 402   $ (136
  

 

 

   

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

Divestitures:

             

Adjusted EBITDA - Divestitures

   $ 13   $ 14    $ 13   $ 8   $ —       $ —    
  

 

 

   

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

Combined Adjusted EBITDA

   $ 716   $ 795    $ 819   $ 730   $ 402   $ (136
  

 

 

   

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

 

(a)

Former Caesars Adjusted EBITDA, pre-acquisition was derived from historical financial information. In addition, the operating results of Former Caesars were adjusted to conform to New Caesars’ methodology of allocating certain corporate expenses between segments.

 

9


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: August 6, 2020     CAESARS ENTERTAINMENT, INC.
    By:  

/s/ Thomas R. Reeg

      Chief Executive Officer

 

10

v3.20.2
Document and Entity Information
Aug. 06, 2020
Cover [Abstract]  
Amendment Flag false
Entity Central Index Key 0001590895
Document Type 8-K
Document Period End Date Aug. 06, 2020
Entity Registrant Name Caesars Entertainment, Inc.
Entity Incorporation State Country Code DE
Entity File Number 001-36629
Entity Tax Identification Number 46-3657681
Entity Address, Address Line One 100 West Liberty Street
Entity Address, Address Line Two Suite 1150
Entity Address, City or Town Reno
Entity Address, State or Province NV
Entity Address, Postal Zip Code 89501
City Area Code (775)
Local Phone Number 328-0100
Written Communications false
Soliciting Material false
Pre Commencement Tender Offer false
Pre Commencement Issuer Tender Offer false
Security 12b Title Common Stock, $0.00001 par value
Trading Symbol CZR
Security Exchange Name NASDAQ
Entity Emerging Growth Company false