Caesars continues to launch Caesars Sportsbook and Caesars Racebook in new jurisdictions, as well as its online and mobile iGaming applications. Horseshoe Online Casino has initially launched in October 2024 in Michigan, with plans to expand into other jurisdictions where Caesars Digital iGaming platforms are live.

The permanent facility of Caesars Virginia is scheduled to open in December 2024. The permanent development has a budget of $750 million and will include a premier destination resort casino.

On August 1, 2024, the Company entered into a definitive agreement to sell the World Series of Poker (“WSOP”) assets to NSUS Group Inc (“NSUS”). Under the terms of the agreement, NSUS will pay $250 million in cash at closing and enter into a term loan with the Company for an additional $250 million for a total purchase price of $500 million.

The company continues to focus on labor efficiencies to manage increased labor costs. The company is also strategically managing marketing and advertising spend to reduce casino expenses related to the Caesars Digital segment.

As of September 30, 2024, the Company has met the capital investment requirements for Caesars New Orleans, and the project is expected to be completed in the fourth quarter of 2024. The capital investment involves the rebranding of the property to Caesars New Orleans.

During the nine months ended September 30, 2024, the company refinanced $4.4 billion of debt. In May 2024, they amended the CEI Credit Agreement and reduced the interest rate margin on the CEI Term Loan B. In June 2024, they made a voluntary principal repayment of $100 million on the CEI Term Loan B.

Gaming and other leisure activities represent discretionary expenditures which may be sensitive to economic downturns. Higher inflation, interest rates, and global hostilities may also impact travel, customers, and operations.

The Regional segment was negatively impacted by competition associated with new casino resorts opening in some of our regional markets. This is a risk factor that the company is actively monitoring.

The company relies on key personnel and faces intense competition to attract and retain management and key employees in the gaming industry. This is a risk factor that the company is actively monitoring.

Net revenues within our Caesars Digital segment improved due to a significant increase in iGaming handle coupled with improved hold and higher hold in sports betting.

Consolidated net revenues decreased for the three and nine months ended September 30, 2024, as compared to the same prior year period, due to a decline in casino revenues in our Las Vegas segment primarily driven by the decrease in gaming volume associated with the divestiture of Rio.

The Regional segment was negatively impacted by competition associated with new casino resorts opening in some of our regional markets.

Food and beverage expenses have increased mainly due to higher union and non-union wages in addition to increased employee head count in our Las Vegas segment associated with new food and beverage offerings. We continue to focus on labor efficiencies to manage increased labor costs.

We continue to strategically manage our marketing and advertising spend to reduce our casino expenses related to our Caesars Digital segment.

General and administrative expenses decreased for the three and nine months ended September 30, 2024, as compared to the same prior year periods, due to lower general advertising expenses and reduced rent expense related to the Rio which was divested at the end of the third quarter of 2023.

The company continues to invest in its digital platform, including the launch of Caesars Palace Online Casino in August 2023 and Horseshoe Online Casino in October 2024.

We continue to launch Caesars Sportsbook and Caesars Racebook in new jurisdictions, as well as our online and mobile iGaming applications.

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 22 states as of September 30, 2024.

In September 2024, our Board of Directors authorized a $500 million common stock repurchase program.

Cash used for capital expenditures totaled $1.0 billion for the nine months ended September 30, 2024, related to growth, renovation, maintenance, and other capital projects.

During the nine months ended September 30, 2024, the company refinanced $4.4 billion of debt and made a voluntary principal repayment of $100 million on the CEI Term Loan B.

The provided 10-Q filing does not contain specific information regarding Environmental, Social, and Governance (ESG) initiatives.

Gaming and other leisure activities represent discretionary expenditures which may be sensitive to economic downturns. Higher inflation, interest rates, and global hostilities may also impact travel, customers, and operations.

The Regional segment was negatively impacted by competition associated with new casino resorts opening in some of our regional markets.

The company is subject to governmental regulation on our business and the cost of complying or the impact of failing to comply with such regulations.