Caesars Entertainment settles cash tender offer for Senior Secured Notes Due 2025

February 7, 2024
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The notes can be fully redeemed later this month.

Caesars Entertainment has settled a cash tender offer for “any and all of the Issuers’ outstanding $989,102,000 aggregate principal amount of the 5.750% Senior Secured Notes due 2025.”

The offer was started by Caesars Resort Collection, LLC and CRC Finco, Inc, the company’s indirect wholly owned subsidiaries.

Caesars said that its issuers have given the company notice of their intention to redeem all outstanding notes on February 16.

Caesars outlined how the notices will be distributed by saying, “The company has instructed US Bank Trust Company, National Association, the trustee under the Indenture, to distribute a Notice of Redemption to all currently registered holders of the Notes on February 6, 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.”

Holders will receive a redemption price per note equal to 100.183% of the principal amount, along with both accrued and unpaid interest “up to, but excluding, the redemption date.”

Since the brand’s formation in Reno, Nevada in 1937, Caesars Entertainment has expanded over the years to include facilities that operate under the Caesars, Harrah's, Horseshoe and Eldorado brand names.

Its Caesars Digital brand recently partnered with Hacksaw Gaming and launched Hacksaw Gaming’s content for the first time in the Canadian province of Ontario.

Players throughout the province now have access to new titles on Caesars Palace Online Casino and Caesars Sportsbook & Casino. They can also play games from Hacksaw’s catalogue that include Wanted Dead or a Wild, RIP City, Hand of Anubis and Mines.

This is the first time Caesars Digital has collaborated with Hacksaw Gaming. The duo said it plans to launch in other territories later this year.

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