Caesars Reports Material Agreement Changes & New Debt Obligation

TL;DR

**Caesars just changed major agreements and took on new debt, watch for details.**

AI Summary

Caesars Entertainment, Inc. filed an 8-K on February 7, 2024, reporting events from February 6, 2024, related to entering and terminating a material definitive agreement, and creating a direct financial obligation. This filing indicates significant changes in the company's financial commitments and strategic agreements. For investors, this matters because it signals potential shifts in the company's operational structure or debt profile, which could impact future earnings and stock valuation.

Why It Matters

This filing signals potential strategic shifts and new financial obligations for Caesars Entertainment, Inc., which could influence its financial health and future growth prospects.

Risk Assessment

Risk Level: medium — The filing indicates material changes to agreements and new financial obligations, which could introduce both opportunities and risks depending on the specifics, which are not fully detailed here.

Analyst Insight

Investors should look for subsequent filings or press releases from Caesars Entertainment, Inc. that provide more details on the nature and financial implications of the material agreements entered into and terminated, as well as the new financial obligation, to assess the full impact on the company's outlook.

Key Players & Entities

• Caesars Entertainment, Inc. (company) — the registrant filing the 8-K
• February 6, 2024 (date) — date of earliest event reported
• February 7, 2024 (date) — date the 8-K was filed
• 001-36629 (other) — Commission File Number for Caesars Entertainment, Inc.
• Delaware (other) — State of Incorporation for Caesars Entertainment, Inc.

FAQ

Key Financial Figures

• $0.00001 — nge on which registered Common stock, $0.00001 par value CZR NASDAQ Stock Market
• $1.5 billion — terms), a Delaware corporation, issued $1.5 billion aggregate principal amount of 6.500% Se
• $2.9 billion — oan in an aggregate principal amount of $2.9 billion (the "Term B-1 Loan") under its existin
• $989,102,000 — any and all of the Issuers' outstanding $989,102,000 aggregate principal amount of CRC Secur
• $3,399,000,000 — ny and all of the Company's outstanding $3,399,000,000 aggregate principal amount of the CEI S
• $40,704,000 — n (the "CRC Redemption Notice") for all $40,704,000 in aggregate principal amount of the CR
• $416,721,000 — n (the "CEI Redemption Notice") for all $416,721,000 in aggregate principal amount of the CE

Filing Documents

• d739529d8k.htm (8-K) — 57KB
• d739529dex44.htm (EX-4.4) — 30KB
• d739529dex101.htm (EX-10.1) — 1273KB
• d739529dex102.htm (EX-10.2) — 1565KB
• d739529dex991.htm (EX-99.1) — 7KB
• d739529dex992.htm (EX-99.2) — 7KB
• g739529g0207023551209.jpg (GRAPHIC) — 4KB
• g739529g0207023625669.jpg (GRAPHIC) — 4KB
• 0001193125-24-026847.txt ( ) — 3736KB
• czr-20240206.xsd (EX-101.SCH) — 3KB
• czr-20240206_lab.xml (EX-101.LAB) — 18KB
• czr-20240206_pre.xml (EX-101.PRE) — 11KB
• d739529d8k_htm.xml (XML) — 4KB

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 4.1 Indenture (6.250% CEI Senior Secured Notes due 2025) dated as of July 6, 2020, by and between Colt Merger Sub, Inc. and U.S. Bank National Association, as trustee and collateral agent (previously filed on Form 8-K filed on July 7, 2020). 4.2 Supplemental Indenture, dated as of July 20, 2020, to Indenture (6.250% CEI Senior Secured Notes due 2025), dated as of July 6, 2020, by and among Colt Merger Sub, Inc., Eldorado Resorts, Inc., the subsidiary guarantors party thereto and U.S. Bank National Association, as trustee and collateral agent (previously filed on Form 8-K filed on July 21, 2020). 4.3 Supplemental Indenture, dated as of June 4, 2021, to Indenture (6.250% CEI Senior Secured Notes due 2025), dated as of July 6, 2020, by and among Caesars Entertainment, Inc., the subsidiary guarantors party thereto and U.S. Bank National Association, as trustee and collateral agent (previously filed on Form 10-K filed on February 22, 2023). 4.4 Supplemental Indenture, dated as of November 3, 2023, to Indenture (6.250% CEI Senior Secured Notes due 2025), dated as of July 6, 2020, by and among Caesars Entertainment, Inc., the subsidiary guarantors party thereto and U.S. Bank Trust Company, National Association, as trustee, and U.S. Bank National Association, as collateral agent. 10.1 Indenture, dated as of February 6, 2024, by and among Caesars Entertainment, Inc., the subsidiary guarantors party thereto, U.S. Bank Trust Company, National Association, as Trustee, and U.S. Bank National Association, as Collateral Agent. 10.2 Incremental Assumption Agreement No. 3, dated as of February 6, 2024, by and among Caesars Entertainment, Inc., the subsidiary guarantors party thereto, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent. 99.1 Press Release, February 6, 2024. 99.2 Press Release, February 7, 2024. 104 Cover Page Interactive Data

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: February 7, 2024 By: /s/ Bret Yunker Name: Bret Yunker Title: Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR