Caesars Entertainment, Inc. Announces Satisfaction and Discharge and Related Redemption of 6.250% Senior Secured Notes Due 2025
08 February 2024 - 8:26AM
Business Wire
Caesars Entertainment, Inc. (the “Company”) (Nasdaq: CZR) today
announced the settlement of the cash tender offer for any and all
of the Company’s outstanding 6.250% Senior Secured Notes due 2025
(the “Notes”). Additionally, the Company announced it has satisfied
and discharged its outstanding Notes in accordance with the terms
and conditions of the Notes and the indenture governing the Notes
(the “Indenture”).
The satisfaction and discharge involves the redemption of the
Notes on July 1, 2024 (the Redemption Date), at a redemption price
per Note of 100.000% of the principal amount of the Notes, plus
accrued and unpaid interest up to, but excluding, the Redemption
Date. The Company today announced that it has deposited sufficient
U.S. Government Obligations (as defined in the Indenture) in trust
with U.S. Bank Trust Company, National Association, the trustee
under the Indenture, to satisfy and discharge the Notes and the
Indenture, and the trustee has acknowledged such satisfaction and
discharge.
The Company has instructed the trustee to distribute a Notice of
Redemption to all currently registered holders of the Notes on
February 7, 2024. Copies of such Notice of Redemption and
additional information relating to the procedure for redemption of
the Notes may be obtained from the Company’s investor relations
contacts provided below.
This press release shall not constitute a notice of redemption
under the optional redemption provisions of the Indenture, nor does
it constitute an offer to sell or the solicitation of an offer to
buy the Notes or any other securities, nor shall there be any sale
of any Notes or other securities in any state or jurisdiction in
which such an offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
jurisdiction.
About Caesars Entertainment, Inc.
Caesars Entertainment, Inc. (NASDAQ: CZR) is the largest
casino-entertainment company in the US and one of the world’s most
diversified casino-entertainment providers. Since its beginning in
Reno, NV, in 1937, Caesars Entertainment, Inc. has grown through
development of new resorts, expansions and acquisitions. Caesars
Entertainment, Inc.’s resorts operate primarily under the Caesars®,
Harrah’s®, Horseshoe®, and Eldorado® brand names. Caesars
Entertainment, Inc. offers diversified gaming, entertainment and
hospitality amenities, one-of-a-kind destinations, and a full suite
of mobile and online gaming and sports betting experiences. All
tied to its industry-leading Caesars Rewards loyalty program, the
company focuses on building value with its guests through a unique
combination of impeccable service, operational excellence and
technology leadership. Caesars is committed to its employees,
suppliers, communities and the environment through its PEOPLE
PLANET PLAY framework. To review our latest CSR report, please
visit www.caesars.com/corporate-social-responsibility/csr-reports.
Know When To Stop Before You Start®. Gambling Problem? Call
1-800-522-4700.
Forward-Looking Statements
This press release may include information that could constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements involve
risk and uncertainties. The Company undertakes no obligation to
revise or update any forward-looking statements, or to make any
other forward-looking statements, whether as a result of new
information, future events or otherwise, except as otherwise
required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20240207656686/en/
Caesars Entertainment, Inc. Investor Relations: Brian Agnew,
bagnew@caesars.com Charise Crumbley, ccrumbley@caesars.com
Media Relations: Kate Whiteley, kwhiteley@caesars.com
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