Company: CZR
Filing Date: 2025-07-29
Form Type: 10-Q
Source: 0001590895-25-000126
Chunk: 160

Company: Caesars Entertainment, Inc.
Filing Date: 2025-07-29
Form: 10-Q
Item: Part I, Item 2
Chunk 160
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 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, 2025, we fully redeemed all of the $546 million outstanding principal amount of the CEI Senior Notes due 2027 and paid the related accrued interest and expenses with borrowings under the CEI Revolving Credit Facility and proceeds received from the partial repayment and sale of $225 million of notes receivable related to the previously disclosed WSOP trademark sale. As a result of the early repayment, we recognized approximately $4 million of loss on extinguishment of debt.

We expect that our primary capital requirements going forward will relate to servicing our outstanding indebtedness, rent payments under our GLPI Leases and VICI Leases, and the expansion and maintenance of our properties. Beginning in 2025 we have had, and expect to continue having, additional cash uses for operating activities as a result of federal and certain state income taxes.

A significant portion of our liquidity needs are for debt service and payments associated with our leases. Our estimated