Company: CZR
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001590895-25-000068
Chunk: 486

Company: Caesars Entertainment, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 8
Chunk 486
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4 and 2023, respectively, which is included in Accrued other liabilities in our Balance Sheets.The assumptions utilized by our actuaries are subject to significant uncertainty and if outcomes differ from these assumptions or events develop or progress in a negative manner, the Company could experience a material adverse effect and additional liabilities may be recorded in the future. ContingenciesWeather Disruption - Lake CharlesOn August 27, 2020, Hurricane Laura made landfall on Lake Charles as a Category 4 storm severely damaging the Isle of Capri Casino Lake Charles (“Lake Charles”). During the year ended December 31, 2022, the Company reached a final settlement agreement with the insurance carriers for a total amount of $128 million, before our insurance deductible of $25 million. The Company has received a total of $103 million related to damaged fixed assets, remediation costs and business interruption.

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CAESARS ENTERTAINMENT, INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

The Company recorded a gain of $38 million during the year ended December 31, 2022, which is included in Transaction and other costs, net in our Statements of Operations, as the proceeds received for the cost to replace damaged property is in excess of the respective carrying value of the assets. The construction of our new land-based casino, Horseshoe Lake Charles, was completed and reopened in December 2022.

Note 9. Long-Term Debt

December 31, 2024December 31, 2023(Dollars in millions)Final MaturityRatesFace ValueBook ValueBook ValueSecured DebtCEI Revolving Credit Facility2028variable$— $— $— CEI Term Loan A2028variable675 673 710 CVA Revolving Credit Facility2029variable— — — CVA Delayed Draw Term Loan2029variable295 288 — CEI Term Loan B2030variable2,056 2,021 2,432 CEI Term Loan B-12031variable2,878 2,844 — CEI Senior Secured Notes due 203020307.00%2,000 1,982 1,978 CEI Senior Secured Notes due 203220326.50%1,500 1,484 — CEI Senior Secured Notes due 2025N/AN/A— — 3