Caesars Entertainment Files 8-K, Confirms NASDAQ Listing

TL;DR

**CZR filed a routine 8-K, confirming its NASDAQ listing and regulatory compliance.**

AI Summary

Caesars Entertainment, Inc. filed an 8-K on January 18, 2024, primarily to disclose general information and confirm its status as a publicly traded company on the NASDAQ Stock Market under the ticker CZR. This filing, while not announcing major news, is important for investors as it reaffirms the company's compliance with SEC regulations and its continued listing, providing transparency and stability for those who own or are considering buying its stock.

Why It Matters

This filing confirms Caesars Entertainment's ongoing compliance with SEC regulations and its active listing on the NASDAQ, which is crucial for investor confidence and market liquidity.

Risk Assessment

Risk Level: low — This is a routine administrative filing with no new material information that would introduce significant risk.

Analyst Insight

A smart investor would recognize this as a routine compliance filing, not signaling any immediate need for action. It reinforces the company's stable public listing, which is a foundational element for investment.

Key Numbers

• 001-36629 — Commission File Number (identifies Caesars Entertainment, Inc. with the SEC)
• 46-3657681 — IRS Employer Identification Number (identifies Caesars Entertainment, Inc. for tax purposes)
• 100 West Liberty Street, 12th Floor — Business Address (principal executive offices of Caesars Entertainment, Inc.)
• 775-328-0100 — Registrant’s telephone number (contact number for Caesars Entertainment, Inc.)
• 2024-01-18 — Date of Report (the date the earliest event reported in the 8-K occurred)

Key Players & Entities

• Caesars Entertainment, Inc. (company) — the registrant filing the 8-K
• NASDAQ Stock Market (company) — the exchange where Caesars' common stock is registered
• CZR (company) — the trading symbol for Caesars Entertainment, Inc.
• Delaware (company) — state of incorporation for Caesars Entertainment, Inc.
• Reno, Nevada (company) — location of Caesars Entertainment, Inc.'s principal executive offices

FAQ

Key Financial Figures

• $0.00001 — nge on which registered Common stock, $0.00001 par value CZR NASDAQ Stock Market
• $2.0 billion — I Credit Agreement to provide for a new $2.0 billion senior secured term loan facility (the
• $832 million — period. Las Vegas table game drop of $832 million for the three months ended December 31,
• $840 million — ded December 31, 2023 decreased 1% from $840 million for the comparable prior year period, o
• $44 million — ng hold in November to be approximately $44 million in net revenues, based on our typical h
• $29 million — r typical hold range, and approximately $29 million of net income and Adjusted EBITDA. Th
• $69 million — o sports betting, iGaming, and poker of $69 million and $55 million, for the three months e
• $55 m — , iGaming, and poker of $69 million and $55 million, for the three months ended Decem
• $3 million — complimentary incentives for poker were $3 million for both of the three months ended Dece
• $3,399 million — ffer for any and all of the outstanding $3,399 million aggregate principal amount of 6.250% Se

Filing Documents

• d732968d8k.htm (8-K) — 130KB
• d732968dex991.htm (EX-99.1) — 16KB
• g732968g0117171230127.jpg (GRAPHIC) — 4KB
• 0001193125-24-009672.txt ( ) — 286KB
• czr-20240118.xsd (EX-101.SCH) — 3KB
• czr-20240118_lab.xml (EX-101.LAB) — 18KB
• czr-20240118_pre.xml (EX-101.PRE) — 11KB
• d732968d8k_htm.xml (XML) — 3KB

01

Item 7.01 Regulation FD Disclosure. Proposed Refinancing On January 18, 2024, Caesars Entertainment, Inc. (the "Company," "Caesars," "we," "us," "our" or similar terms) announced the anticipated amendment to our CEI Credit Agreement to provide for a new $2.0 billion senior secured term loan facility (the "New Term B-1 Loan"). Caesars intends to apply net proceeds of the New Term B-1 Loan borrowings to (i) repay certain debt maturing in 2025, together with all accrued interest, fees and premiums thereon, and (ii) pay fees and expenses related to the foregoing. Certain Financial Information Caesars Entertainment, Inc. Preliminary Operating Results for the Three Months Ended December 31, 2023 Although the results of operations for Caesars for the three months ended December 31, 2023 are not yet available, the following reflects our current expectations regarding the range of net revenues, net income (loss) and Adjusted EBITDA for the three months ended December 31, 2023 as compared to the same period ended December 31, 2022. The estimates set forth below are based solely on currently available information. Due to the close proximity to the end of the current reporting period, Caesars has not finalized its financial statement closing process for the three months ended December 31, 2023. During this process, Caesars may identify items that would require it to make adjustments to the expected preliminary operating results described below. In addition to its routine closing procedures, Caesars has not completed its annual tax provision or reached its final conclusions related to the assumptions used in determining the estimated fair value of its indefinite lived intangible assets and reporting units associated with goodwill. The significance of potential adjustments to this preliminary financial information could result in actual net income (loss) to be outside of the ranges provided for the three months ended December 31, 2023. As a result, the discussion below

01

Item 8.01 Other Events. On January 18, 2024, Caesars issued a press release announcing that it has commenced a cash tender offer for any and all of the outstanding $3,399 million aggregate principal amount of 6.250% Senior Secured Notes due 2025. A copy of the press release making this announcement is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Forward-Looking Statements

Forward-Looking Statements This Report, including Exhibit 99.1 attached hereto, contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based upon management's current expectations, beliefs, assumptions and estimates, and on information currently available to us, all of which are subject to change, and are not guarantees of timing, future results or performance. These forward-looking statements involve certain risks and uncertainties and other factors that could cause actual results to differ materially from those indicated in such forward-looking statements, as discussed further in the attached press release. Additional information concerning potential factors that could affect the Company's financial results are included in the Company's Form 10-K for the year ended December 31, 2022 and the Company's other periodic reports filed with the Securities and Exchange Commission. The Company is under no obligation to (and expressly disclaims any such obligation to) update its forward-looking statements as a result of new information, future events or otherwise. The information contained in this Report, including Exhibit 99.1 attached hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, and shall not otherwise be incorporated by reference in any filing pursuant to the Securities Act, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. The furnishing of the information in this Report, including Exhibit 99.1 attached hereto, is not intended to, and does not, constitute a determination or admission as to the materiality or completeness of such information.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press Release dated January 18, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized. CAESARS ENTERTAINMENT, INC. Date: January 18, 2024 By: /s/ Bret Yunker Name: Bret Yunker Title: Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR