Business Description
Caesars Entertainment is a casino-entertainment and hospitality services provider
with one of the world’s most diversified portfolios. We have established
a rich history of industry-leading growth and expansion since we commenced operations
in 1937. Our facilities typically include gaming offerings, food and beverage
outlets, hotel and convention space, and non-gaming entertainment options. In
addition to our brick and mortar assets, we operate an online gaming business
that provides real money games in certain jurisdictions and offers retail sports
wagering in certain jurisdictions.
CEC is primarily a holding company with no independent operations of its own.
CEC operates the business primarily through its wholly owned subsidiaries CEOC,
LLC (“CEOC LLC”) and Caesars Resort Collection, LLC (“CRC”).
Our consolidated business is composed of five complementary businesses that
reinforce, cross-promote, and build upon each other: casino entertainment, food
and beverage, rooms and hotel, casino management services, and entertainment
and other business operations, including mobile sports betting. Upon CEOC’s
emergence from bankruptcy on the Effective Date, the majority of its real property
assets were sold to VICI and simultaneously leased back to us as part of the
plan of reorganization. Additional transactions with VICI were subsequently
completed to finance acquisitions and working capital purposes, resulting in
cash proceeds and corresponding financing obligations.
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