debt
confidence high
sentiment positive
materiality 0.75
Caesars announces $1B senior notes offering, new $500M buyback, WSOP IP sale
Caesars Entertainment, Inc.
- Offering $1.0B senior notes due 2032 to redeem a portion of its 8.125% Senior Notes due 2027.
- Board authorized a new $500M share repurchase program after exhausting the prior $150M program.
- Repurchased 3.87M shares at $36.38 avg in Q3 2024 under the prior program.
- WSOP IP sale to NSUS Group for $500M total; expects first $250M in Q4 2024.
- Net WSOP proceeds expected to repay secured debt or reinvest in business.