Company: CZR
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001590895-25-000126
Chunk: 131

Company: Caesars Entertainment, Inc.
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 8
Chunk 131
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 to repurchase our common stock or prepay our outstanding indebtedness. Any such purchases or prepayments may be funded by existing cash balances or the incurrence of debt. The amount and timing of any repurchase of debt or common stock will be based on business and market conditions, capital availability, compliance with debt covenants and other considerations. Our cash requirements may fluctuate significantly depending on our decisions with respect to business acquisitions or divestitures and strategic capital and marketing investments. 

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As of June 30, 2025, our cash on hand and borrowing capacity was as follows:

(In millions)June 30, 2025Cash and cash equivalents$982 Revolver capacity (a)2,235 Revolver capacity committed to letters of credit(90)Revolver capacity committed as regulatory requirement(46)Total (b)$3,081 

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(a)Revolver capacity includes $2.25 billion under the CEI Revolving Credit Facility, maturing in January 2028, and $25 million under the CVA Revolving Credit Facility, maturing on April 26, 2029, less $40 million reserved for specific purposes.

(b)Excludes approximately $75 million of additional borrowing available under the CVA Delayed Draw Term Loan.

During the six months ended June 30, 2025, our operating activities generated operating cash inflows of $680 million, as compared to operating cash inflows of $534 million during the six months ended June 30, 2024, primarily due to changes in working capital, coupled with the results of operations described above. 

On October 2, 2024, we announced that our Board of Directors (“Board”) authorized a $500 million common stock repurchase program (the “2024 Share Repurchase Program”). Under the 2024 Share Repurchase Program, we may, from time to time, repurchase shares of common stock on the open market (either with or without a 10b5-1 plan) or through privately negotiated transactions. In April 2025, we acquired 4,188,466 shares of our common stock at an aggregate value of $100 million, excluding commissions or applicable excise tax. As of June 30, 2025, we are authorized to repurchase up to $350 million of common stock under the 2024 Share Repurchase Program. See “Share Repurchase Program” below for details.

On July 8, 202