Caesars continues to expand into new markets with projects such as our partnership with the Eastern Band of Cherokee Indians to build and develop Caesars Virginia which is estimated to open a permanent facility in December 2024.

The company continues to launch Caesars Sportsbook and Caesars Racebook in new jurisdictions, and our online and mobile iGaming application, Caesars Palace Online Casino, launched in the summer of 2023.

The net proceeds from the issuance of the CEI Senior Secured Notes due 2032 and the net proceeds from the CEI Term Loan B-1, together with borrowings under the CEI Revolving Credit Facility, were used to tender, redeem, repurchase, defease, and/or satisfy and discharge any and all of the principal amounts, including accrued and unpaid interest, related expenses and fees of both the 5.75% Senior Secured Notes due 2025 and the 6.25% Senior Secured Notes due 2025.

Total operating expenses increased by 1.3% to $2.257 billion, indicating challenges in cost control despite lower revenue. This increase is attributed to higher union and non-union wages, increased employee head count, and promotional costs.

The company continues to strategically manage marketing and advertising spend to reduce casino expenses related to our Caesars Digital segment.

We continue to focus on labor efficiencies to manage rising labor costs.

Gaming and other leisure activities represent discretionary expenditures that may be sensitive to economic downturns, impacting customer mix and overall revenue.

Variations in hold percentages and increases in promotional and marketing expenses in highly competitive markets during promotional periods may negatively impact Caesars Digital's net revenues, net income, Adjusted EBITDA and Adjusted EBITDA margin.

Failure to comply with such covenants could result in an acceleration of the maturity of indebtedness outstanding under the relevant debt document.

Caesars Digital's net revenues, Adjusted EBITDA, and Adjusted EBITDA margin increased for the three months ended March 31, 2024, as compared to the same prior year period, primarily due to higher iGaming handle and hold.

The Regional segment has also experienced declines in gaming volume from a shift in customer mix as our higher rated play has remained steady with some growth, offset slightly by a reduction in lower tiered and unrated play. Additionally, the continued impact of competition associated with new casino resorts opening in some of our regional markets and ongoing construction disruption from renovation projects at certain of our properties within the segment contributed to the decline in casino revenues.

Our Las Vegas segment's casino expenses increased for the three months ended March 31, 2024 due to promotional costs associated with special events held over the Super Bowl weekend.

We continue to focus on labor efficiencies to manage rising labor costs.

The company continues to strategically manage marketing and advertising spend to reduce casino expenses related to our Caesars Digital segment.

Total operating expenses increased by 1.3% to $2.257 billion, indicating challenges in cost control despite lower revenue. This increase is attributed to higher union and non-union wages, increased employee head count, and promotional costs.

The company continues to launch Caesars Sportsbook and Caesars Racebook in new jurisdictions, and our online and mobile iGaming application, Caesars Palace Online Casino, launched in the summer of 2023.

In 2022, we partnered with NYRABets LLC, the official online wagering platform of the New York Racing Association, Inc., and have launched the Caesars Racebook app within 21 states as of March 31, 2024. The Caesars Racebook app provides access for pari-mutuel wagering at over 300 racetracks around the world as well as livestreaming of races.

We are also in the process of expanding our Caesars Digital footprint into other states in the near term with our Caesars Sportsbook, Caesars Racebook and iGaming mobile apps as jurisdictions legalize or provide necessary approvals.

The net proceeds from the issuance of the CEI Senior Secured Notes due 2032 and the net proceeds from the CEI Term Loan B-1, together with borrowings under the CEI Revolving Credit Facility, were used to tender, redeem, repurchase, defease, and/or satisfy and discharge any and all of the principal amounts, including accrued and unpaid interest, related expenses and fees of both the 5.75% Senior Secured Notes due 2025 and the 6.25% Senior Secured Notes due 2025.

Our capital expenditure requirements for the remainder of 2024 include expansion projects, hotel renovations and continued investment into new markets with our Caesars Sportsbook and iGaming applications in our Caesars Digital segment.

In November 2018, our Board of Directors authorized a $150 million common stock repurchase program.

The provided 10-Q filing does not contain any specific information regarding Environmental, Social, or Governance (ESG) initiatives undertaken by Caesars Entertainment.

Gaming and other leisure activities represent discretionary expenditures that may be sensitive to economic downturns, impacting customer mix and overall revenue.

Variations in hold percentages and increases in promotional and marketing expenses in highly competitive markets during promotional periods may negatively impact Caesars Digital's net revenues, net income, Adjusted EBITDA and Adjusted EBITDA margin.

The Regional segment has also experienced declines in gaming volume from a shift in customer mix as our higher rated play has remained steady with some growth, offset slightly by a reduction in lower tiered and unrated play. Additionally, the continued impact of competition associated with new casino resorts opening in some of our regional markets and ongoing construction disruption from renovation projects at certain of our properties within the segment contributed to the decline in casino revenues.