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    Caesars Entertainment Inc (CZR)

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    Caesars Entertainment, Inc. is a geographically diversified gaming and hospitality company that operates casino properties, hotels, restaurants, bars, entertainment venues, and retail shops. The company generates its primary revenue from gaming operations, including retail and online sports betting and iGaming, which accounted for approximately 55% of total net revenues in 2023 . In addition to gaming, Caesars' business activities include food and beverage operations and hotel operations, contributing to its diverse revenue streams . The company's operations are divided into four reportable segments: Las Vegas, Regional, Caesars Digital, and Managed and Branded .

    1. Gaming Operations - Operates approximately 51,300 slot machines and 2,700 table games, including poker, across its properties, and offers retail and online sports betting and iGaming .
    2. Hotel Operations - Owns, leases, brands, or manages 52 domestic properties in 18 states, providing accommodation services .
    3. Food and Beverage Operations - Manages restaurants, bars, and other dining establishments, contributing to the company's hospitality offerings .
    4. Caesars Digital - Engages in digital operations through platforms like the Caesars Sportsbook app, offering online gaming and sports betting .
    5. Managed and Branded - Involves the management and branding of properties, expanding the company's reach and influence in the hospitality sector .
    NamePositionExternal RolesShort Bio

    Thomas R. Reeg

    ExecutiveBoard

    Chief Executive Officer (CEO)

    None reported

    CEO of CZR since the merger with Eldorado Resorts; brings financial and operational expertise.

    View Report →

    Bret Yunker

    Executive

    Chief Financial Officer (CFO)

    None reported

    Joined CZR in May 2019; previously Managing Director at JP Morgan Chase & Co. and Bank of America Merrill Lynch, specializing in gaming industry finance.

    Edmund L. Quatmann Jr.

    Executive

    EVP, Chief Legal Officer, and Secretary

    None reported

    Joined CZR in May 2017 after the merger with Isle of Capri Casinos; oversees legal and regulatory matters.

    Josh Jones

    Executive

    Chief Marketing Officer (CMO)

    None reported

    Joined CZR in 2016; held various roles including VP of Corporate Finance and SVP of Operations before becoming CMO in 2021.

    Stephanie Lepori

    Executive

    Chief Administrative and Accounting Officer

    None reported

    With CZR since 1995; extensive experience in finance and gaming; previously Chief Accounting Officer.

    Bonnie S. Biumi

    Board

    Board Member

    Board Member at Kite Realty Trust Group and Virgin Cruises Limited

    Extensive experience in corporate finance and accounting; previously President and CFO of Kerzner International Resorts.

    Courtney R. Mather

    Board

    Board Member

    CEO and CIO of Vision One; Board Member at Newell Brands Inc.

    Financial and strategic expert; previously Managing Director at Icahn Capital LP and Goldman Sachs.

    David P. Tomick

    Board

    Lead Independent Director

    Board Member at Casalu, Inc., Gryppers, Inc., Autocam Medical, and First Choice Packaging

    Financial and management expert; Chair of CZR's Audit Committee; extensive experience in corporate governance and investor relations.

    Don R. Kornstein

    Board

    Vice Chairman of the Board

    Founder and Managing Member of Alpine Advisors LLC

    Extensive experience in gaming and entertainment industries; previously served on boards of several companies including Caesars Acquisition Company.

    Gary L. Carano

    Board

    Executive Chairman of the Board

    Board Member at Recreational Enterprises, Inc.

    Extensive experience in gaming and hospitality; previously CEO of Eldorado Resorts and General Manager of Silver Legacy Resort Casino.

    Jan Jones Blackhurst

    Board

    Board Member

    Chairwoman of Public Education Foundation; Executive Director of UNLV Black Fire Leadership Initiative; Board Member at Esports Entertainment Group and Gaming & Hospitality Acquisition Corp.

    Former EVP of Public Policy and Corporate Responsibility at CZR; over 20 years of experience in gaming industry leadership.

    Michael E. Pegram

    Board

    Board Member

    None reported

    Extensive experience in horse racing and gaming; partner in multiple casinos in Nevada and owner of successful racehorses.

    1. Given the decline in gaming volumes in your regional segment, particularly the reduction in unrated play due to increased competition, how do you plan to address this competitive pressure and regain market share, especially in affected geographies like Terre Haute?

    2. With adjusted EBITDAR in your regional segment down 8% year-over-year due to factors like competitive pressures, construction disruptions, and difficult comps, can you elaborate on your specific strategies to reverse this trend and improve margins in the regional market?

    3. You mentioned that your elevated capital investment cycle is nearing completion, leading to increased free cash flow, but with significant debt remaining, how will you balance debt reduction with potential share repurchases, and what factors will influence your capital allocation decisions?

    4. Given the significant increase in labor costs in Las Vegas and the impact of the new union contract, how sustainable are your current EBITDAR margins, and what measures are you implementing to mitigate future cost escalations while maintaining service quality?

    5. Considering that you need a favorable swing in hold to achieve year-over-year EBITDA growth in Las Vegas, how confident are you in meeting your full-year guidance without relying on variable factors like hold percentage, and what other drivers can support your growth expectations?

    Program DetailsProgram 1Program 2
    Approval DateNovember 8, 2018 September 2024
    End Date/DurationCompleted in September 2024 No time limit
    Total Additional Amount$150 million $500 million
    Remaining Authorization$0 $500 million
    DetailsProgram completed No minimum repurchase required; shares retired
    YearAmount Due (in millions)Debt TypeInterest Rate% of Total Debt
    202425 Principal payments on term loansN/A0.2% = (25 / 12,698) * 100
    2025105 Annual maturities of long-term debtN/A0.8% = (105 / 12,698) * 100
    2026105 Annual maturities of long-term debtN/A0.8% = (105 / 12,698) * 100
    20271,716 CEI Senior Notes8.125% 13.5% = (1,716 / 12,698) * 100
    2028832 CEI Revolving Credit Facility, Term AVariable 6.6% = (832 / 12,698) * 100
    20291,020 CVA Delayed Draw Term Loan, Senior Notes4.625% 8.0% = (1,020 / 12,698) * 100
    20301,000 CEI Term Loan B, Senior Secured Notes7.00% 7.9% = (1,000 / 12,698) * 100
    20311,000 CEI Term Loan B-1Variable 7.9% = (1,000 / 12,698) * 100
    20321,000 CEI Senior Secured Notes6.50% 7.9% = (1,000 / 12,698) * 100
    20379,915 Special Improvement District Bonds4.30% 78.1% = (9,915 / 12,698) * 100
    NameStart DateEnd DateReason for Change
    Deloitte & Touche LLP2020PresentCurrent auditor.

    Notable M&A activity and strategic investments in the past 3 years.

    CompanyYearDetails

    Horseshoe Baltimore

    2023

    Caesars Entertainment acquired the remaining 24.2% equity for $66 million and repaid a $250 million senior secured term loan using cash on hand, which reduced its interest expense, streamlined its financial structure, and consolidated full ownership of the property.

    William Hill PLC

    2021

    William Hill was acquired in an all-cash transaction valued at approximately £2.9 billion (roughly $3.9–$4.0 billion), financed through various bridge and revolving credit facilities; the deal strategically expanded Caesars’ presence in the U.S. sports betting market while including plans to divest non-U.S. operations.

    No recent press releases or 8-K filings found for CZR.