Caesars Entertainment, Inc. Announces Pricing of New $2.5 Billion Senior Secured Term Loan Facility and Expected Repayment of All Outstanding CRC Term B Loans due 2024 and Term B-1 Loans due 2025

LAS VEGAS a RENO, Nev., Jan. 25, 2023 /PRNewswire/ — Caesars Entertainment, Inc. has announced. (NASDAQ: CZR) (the “Company” or “Caesars”) today the price of its new term loan facility (the “New Term B Loan”) entered into as extended term loan facility under the credit agreement governing its fixed term loan facilities. The principal amount of the New Term B Loan has been increased i $2.5 billion from what was previously announced $1.75 billion.

The Company expects the interest rate under the New Term B Loan to be based on the forward-looking term fixed interest rate (“Term SOFR”) with a margin of 10 basis points. teachers, under the floor of 50 teachers. and the effective limit of 325 basis points, the relative limit is one 25 basis points lower due to having a maximum leverage ratio of 3.75 to 1.00. The new Term B loan is expected to be issued at an issue price equal to 99% of the principal amount maturing in one year. February 2030.

The Company intends to use the proceeds of the $2.5 billion The new Term B loan and the Company’s previously announced financing $2.0 billion 7.000% principal amount Senior Secured Notes due 2030 (the “New Secured Notes”) will repay the $3.4 billion The Term B loans are due 2024 and the $1.0 billion The Senior B-1 Notes due 2025 of Caesars Resort Collection, LLC, a wholly owned subsidiary of the Company (“CRC”), together with all interest accrued thereon, shall be used remainder of which by the Company for the main company. the reasons.

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The New Term B Loan and the offering of the New Secured Notes are expected to close or close. February 6, 2023subject to general closing conditions, including the termination and execution of specific documents.

Forward-looking statements

This announcement includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements about our plans, objectives and strategies for developing or acquiring assets or operations, and expectations, future performance results, trends and other information that is not historical information. When used in this presentation, words or phrases such as “anticipates,” “believes,” “plans,” “plans,” “estimates,” “estimates,” “may,” “may,” “may,” “could,” “should,” “would,” “may continue,” and variations of such words or similar meanings are intended to identify the speak forward. In particular, forward-looking statements may include, among other things, statements regarding the termination and execution of the New Term B Loan specifications, the termination upon the issuance of the New Secured Notes or the application of the proceeds. Such statements contain risks, uncertainties and changes in circumstances that could significantly affect the future results and business of the Company (“we,” “us,” “our” or no different words).

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Forward-looking statements are based on assumptions, including those expressed in specific language, as of the date on which such statements are made. Those estimates are based on internal estimates and assessments of market conditions and trends, management plans and strategies, economic conditions and other factors. Such forward-looking statements are only predictions and are subject to known and unknown risks and uncertainties, many of which are beyond our control, and are subject to change. By their nature, forward-looking statements are subject to risks and uncertainties because they relate to events and depend on future conditions that may not occur. Actual results and trends may differ materially from future results, trends, performance or performance expressed or implied by such statements. Forward-looking statements speak only as of the date they are made, and we assume no obligation to update any forward-looking statements. Forward-looking statements should not be construed as a representation by us or anyone else that the forward-looking statements will be realized. Undue reliance should not be placed on forward-looking statements. Some of the impossibilities and uncertainties associated with forward-looking statements include, but are not limited to: (a) the effects of COVID-19, the inflation, rising fuel prices, supply chain failures, labor shortages. and other economic and market conditions, including changes in consumer spending from such sources, on our business, financial and liquidity results; (b) our ability to successfully implement our digital betting and iGaming platform and expand its user base; (c) risks related to our leverage and our ability to reduce our leverage; (d) the effects of competition, including new competition in some of our markets, on our business and results of operations; and (e) additional factors discussed in the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K as filed with the Securities and Exchange Commission.

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Due to these and other risks, uncertainties and assumptions, the forward-looking events discussed in this press release may not occur. These statements are forward-looking statements as of the date of this press release, whether or not they are available on our website, and we do not intend to make any forward-looking statements public. events or situations that occurred later in the day. where the statement was issued, except as required by law.

SOURCE Caesars Entertainment, Inc.


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