Company: CZR
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001193125-25-093716
Chunk: 43

Company: Caesars Entertainment, Inc.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 43
---
 and (iii) communicate the Compensation Committee’s decisions to management for implementation. None of the NEOs, however, play a role in determining their own compensation and are not present at executive sessions in which their pay is discussed, recommended or approved. Determination of CEO Pay In an executive session without management present, the Compensation Committee reviews and evaluates CEO compensation. The Compensation Committee reviews competitive market data, including peer group data, as provided by Aon, and both corporate financial performance and individual performance and determines the CEO’s compensation based on this review. Peer Companies The Compensation Committee believes that obtaining relevant market data where the Company competes for talent is very important to making determinations about executive compensation. Annually, the Compensation Committee reviews total compensation market data provided by Aon. The Compensation Committee reviews and approves the peer group used for comparisons prior to commencement of the pay study. Consistent with prior years, the following peer group development criteria were used to develop a group of peer companies to assist with fiscal year 2024 pay decisions:

| • |     | Industry: Companies from the gaming, hospitality, hotel and leisure industries based on the Global Industry Classification System. |

| • |     | Company size: Approximately 0.4x to 3x our annual revenues, with a secondary focus on market capitalization at the time of the assessment. |

| • |     | Peers: Companies using Caesars as a peer in their compensation peer group. |

| • |     | Peers of peers: Companies used by potential peers in their peer groups. |

| • |     | Competitors: Companies that compete with Caesars for business and management talent. |

| • |     | Management and Board recommendations. |

The peer group used as a reference point to assist the Compensation Committee with 2024 compensation decisions was unchanged from the prior year and is set forth below:

| Boyd Gaming Corporation   Carnival Corporation   Hilton Worldwide Holdings   Hyatt Hotels Corporation |     | Las Vegas Sands   Marriott International   MGM Resorts International   Norwegian Cruise Line Holdings |     | Penn Entertainment, Inc.   Royal Caribbean Cruises   Wynn Resorts |

Exceptions to the primary criteria used for peer group may be applied, to the extent determined appropriate by the Compensation Committee. The Compensation Committee uses competitive compensation data from the annual total compensation study of peer companies as a reference point to inform decisions about targeted total compensation opportunities and specific compensation elements. The Compensation Committee does not benchmark total compensation to any specific percentile relative to the peer companies or the broader United States market, but