Company: CZR
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001193125-25-093716
Chunk: 93

Company: Caesars Entertainment, Inc.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 93
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 June 30, 2057. Annual rent pursuant to the CSY Lease is currently $0.6 million, paid monthly. Annual rent is subject to periodic rent escalations of 1 to 2 percent through the term of the lease. Commensurate with its interest, the trust receives directly from us approximately 27% of the rent we pay for the CSY Lease. As of December 31, 2024 and 2023, there were no amounts due to or from CSY.We lease space within Tamarack Casino, located in Reno, Nevada, to operate a sportsbook (the “Tamarack Lease”). Indirectly, Mr. Pegram, a member of our Board, has an approximate 54.7% interest in the Tamarack Casino, and the Company’s Executive Chairman of the Board, Gary L. Carano and his siblings, collectively, have an approximate 22.7% interest. Pursuant to the terms of the Tamarack Lease, we pay Tamarack Casino $0.1 million annually in rent and other related sportsbook expenses. In addition, in 2024 we reimbursed Tamarack Casino for certain operating activity, which totaled $0.2 million. During 2024, Tamarack Casino assumed the cash management service for our Sportsbook and, from time to time, reimburses the Company for net wagering activity and customer deposits. As of December 31, 2024 and 2023, the Company had a net receivable balance from Tamarack Casino of approximately $0.1 million and $0.6 million, respectively.In 2024, we became the sports betting provider for Carson Valley Inn, Sharkey’s, Bodine’s, and Slot World (the “Carson Valley Properties”), each of which are owned indirectly by GPEG I, LLC. William Hill provides kiosk-only sportsbooks, with the exception of Carson Valley Inn, which is staffed with the casino’s employees. We have agreed to pay $120,000 in fixed annual payments to G Peg I, LLC, plus additional rent of up to $60,000 annually to cover the cost for one full-time employee at Carson Valley Inn and certain other expenses. There is also a bonus component that would require additional payments from William Hill to G Peg I, LLC for exceeding certain levels of tickets written. For the year ended December 31, 2024, we paid $0.1 million as a result of the additional leased space.