Caesars Entertainment, Inc. Announces Full Redemption of 5.750% Senior Secured Notes Due 2025
February 06 2024 - 3:01PM
Business Wire
Caesars Entertainment, Inc. (the “Company”) (Nasdaq: CZR) today
announced the settlement of the cash tender offer commenced by its
indirect wholly-owned subsidiaries, Caesars Resort Collection, LLC
(“CRC”) and CRC Finco, Inc. (“CRC Finco” and, together with CRC,
the “Issuers”), for any and all of the Issuers’ outstanding
$989,102,000 aggregate principal amount of the 5.750% Senior
Secured Notes due 2025 (the “Notes”). Additionally, the Issuers
have given notice of their intention to redeem all of the Issuers’
Notes outstanding on February 16, 2024 (the “Redemption Date”). The
redemption is being made in accordance with the terms and
conditions of the Notes and the indenture governing the Notes (the
“Indenture”). The redemption price per Note will be 100.183% of the
principal amount of the Notes, plus accrued and unpaid interest up
to, but excluding, the Redemption Date.
The Company has instructed U.S. Bank Trust Company, National
Association, the trustee under the Indenture, to distribute a
Notice of Redemption to all currently registered holders of the
Notes on February 6, 2024. Copies of such Notice of Redemption and
additional information relating to the procedure for redemption of
the Notes may be obtained from the Company’s investor relations
contacts provided below.
This press release shall not constitute a notice of redemption
under the optional redemption provisions of the Indenture, nor does
it constitute an offer to sell or the solicitation of an offer to
buy the Notes or any other securities, nor shall there be any sale
of any Notes or other securities in any state or jurisdiction in
which such an offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
jurisdiction.
About Caesars Entertainment, Inc.
Caesars Entertainment, Inc. (NASDAQ: CZR) is the largest
casino-entertainment company in the US and one of the world’s most
diversified casino-entertainment providers. Since its beginning in
Reno, NV, in 1937, Caesars Entertainment, Inc. has grown through
development of new resorts, expansions and acquisitions. Caesars
Entertainment, Inc.’s resorts operate primarily under the Caesars®,
Harrah’s®, Horseshoe®, and Eldorado® brand names. Caesars
Entertainment, Inc. offers diversified gaming, entertainment and
hospitality amenities, one-of-a-kind destinations, and a full suite
of mobile and online gaming and sports betting experiences. All
tied to its industry-leading Caesars Rewards loyalty program, the
company focuses on building value with its guests through a unique
combination of impeccable service, operational excellence and
technology leadership. Caesars is committed to its employees,
suppliers, communities and the environment through its PEOPLE
PLANET PLAY framework. To review our latest CSR report, please
visit www.caesars.com/corporate-social-responsibility/csr-reports.
Know When To Stop Before You Start®. Gambling Problem? Call
1-800-522-4700.
Forward-Looking Statements
This press release may include information that could constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements involve
risk and uncertainties. Neither the Company nor the Issuers
undertake an obligation to revise or update any forward-looking
statements, or to make any other forward-looking statements,
whether as a result of new information, future events or otherwise,
except as otherwise required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240206682969/en/
Caesars Entertainment, Inc. Investor Relations: Brian Agnew,
bagnew@caesars.com Charise Crumbley, ccrumbley@caesars.com
Media Relations: Kate Whiteley, kwhiteley@caesars.com
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