Caesars Entertainment, Inc.Announces Final Settlement of Takeover Offer for 5.250% Senior Notes Due 2025


Posted: October 8, 2021 at 3:00 p.m. MDT|Update: 17 minutes ago

LAS VEGAS and RENO, Nev., October 8, 2021 / PRNewswire / – Caesars Entertainment, Inc. (the “Company”) (Nasdaq: CZR) today announced the expiration of the previously announced tender offer (the “Takeover Offer”) aiming to buy cash up to $ 1.2 billion 5.250% Senior Bonds due 2025 (the “Bonds”) issued by its indirectly wholly owned subsidiaries, Caesars Resort Collection, LLC and CRC Finco, Inc. (the “Issuers”) under the terms and subject to the conditions set out in the issuer’s offer to purchase dated September 10, 2021 and the attached cover letter dated September 10, 2021 (collectively, the “Tender Offer Documents”), and that he has accepted and made payment for $ 4000 of the total principal amount of the notes which, combined with the advance payment announced previously on September 24, 2021 (the “Early Settlement Date”), resulted in $ 889,281,000 in total principal, representing approximately 52.31% of the notes. All Bonds paid on the date of this announcement (the “Final Settlement Date”) have been validly deposited and these offers have not been withdrawn after the Early Settlement Date and no later than 00h00, New York City It’s time October 7, 2021 (the “Expiration Period”). Capitalized terms used and not defined in this press release have the meanings given to them in the Tender Offer Documents.

(PRNewsfoto / Caesars Entertainment Inc.)

Noteholders paid on the Early Settlement Date and on the Final Settlement Date have received the consideration indicated in the table below, as well as accrued and unpaid interest on these Notes from the last date of interest payment. relating to these Notes up to, but not including, the Early Settlement Date or the Final Settlement Date:

Banknote series

CUSIP numbers(1)

Total amount of unpaid capital

Total Principal Amount of the Early Deposit Notes

Total Principal Amount of Final Deposit Notes

Percentage of unpaid capital remitted



Early submission premium(3)

Total consideration(4)

5.250% senior bonds due 2025

12652 AAA1 /

U1264 AAA1

$ 1,700,000,000

$ 889,277,000

$ 4000


$ 875,941,785

$ 26,678,310

$ 902,620,095


No representation is made as to the accuracy or correctness of the CUSIP numbers listed in this table or printed on the tickets. They are provided solely for the convenience of Noteholders.


Represents $ 985 per $ 1,000 of Notes accepted for purchase on the Early Settlement Date and the Final Settlement Date.


Paid only to Noteholders paid on the Early Settlement Date.


Includes Early Offer Bonus for Early Offer Tickets accepted for purchase.

The tender offer expired at 00h00 midnight, New York City It’s time October 7, 2021.

The issuers selected Credit Suisse Securities (United States) LLC to act as dealer manager in connection with the Tender Offer. Questions regarding the takeover bid can be directed to Credit Suisse Securities (United States) LLC at (800) 820-1653 (toll free) or (212) 538-2147 (collect). Copies of the tender offer documents and other related documents may be obtained from DF King & Co., Inc., the tendering agent and information agent for the takeover bid, at (866) 207-3626 (free call) or (212) 269-5550 (collect) or by e-mail at [email protected]

The Tender Offer was made only by means of the Tender Offer Documents. In no event will this press release constitute an offer to buy or the solicitation of an offer to sell the Securities or any other security of the Issuers or any other person, nor will there be any offering or selling of Securities or other securities in any state or jurisdiction in which such offering, solicitation or sale would be illegal before registration or qualification under the securities laws of such jurisdiction. Further, nothing herein constitutes a notice of redemption of the Notes. No recommendation is made as to whether holders of Notes should tender their Notes.

About Caesars Entertainment, Inc.

Caesars Entertainment, Inc. is the largest casino entertainment company in the United States and one of the most diverse casino entertainment providers in the world. Since its beginnings in Reno, NV, in 1937, Caesars Entertainment, Inc. grew through the development of new resorts, expansions and acquisitions. Caesars Entertainment, Inc. resorts operate primarily under the Caesars®, Harrah’s®, Horseshoe® and Eldorado® brands. Caesars Entertainment, Inc. offers diverse gaming, entertainment and hospitality amenities, unique destinations, and a comprehensive suite of mobile and online gaming and sports betting experiences. All tied to its industry-leading Caesars Rewards loyalty program focuses on creating value with its customers through a unique combination of impeccable service, operational excellence and technological leadership. Caesars is committed to its employees, suppliers, communities and the environment through its PEOPLE PLANET PLAY framework. Know when to quit before you start. ® Problem with gambling? Call 1-800-522-4700.

Forward-looking statements

This press release may contain information that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties. The Company assumes no obligation to revise or update any forward-looking statements, or to make other forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. otherwise requires.


This announcement should be read in conjunction with the Tender Offer Documents. This press release and the tender offer documents (including the documents incorporated by reference herein) contain important information which should be read carefully before making any decision regarding the offer. If a holder of Notes has the slightest doubt as to the action to be taken, it is recommended that he seek his own legal, tax, accounting and financial advice, including as to tax consequences, immediately from his stockbroker. , bank manager, lawyer, accountant or other independent financial or legal advisor. Any person or company whose Notes are held on its behalf by a broker, broker, bank, custodian, trust company or other nominee or intermediary should contact such entity if they wish to participate in the Offer. . No member of the Company, the Issuers, the Dealer Manager, the Submission and Information Agent, or any person who controls or is a director, officer, employee or agent of such persons, or any affiliate of these persons, make any recommendation as to whether the holders of Notes should participate in the Offer.

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SOURCE Caesars Entertainment, Inc.

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