Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Nov. 01, 2013 | |
Document Documentand Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Entity Registrant Name | 'CAESARS ENTERTAINMENT Corp | ' |
Entity Central Index Key | '0000858339 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 136,881,638 |
Trading Symbol | 'CZR | ' |
CONSOLIDATED_CONDENSED_BALANCE
CONSOLIDATED CONDENSED BALANCE SHEETS (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Current assets | ' | ' |
Cash and cash equivalents | $1,707.90 | $1,757.50 |
Restricted cash | 123.4 | 833.6 |
Receivables, net of allowance for doubtful accounts of $179.9 and $201.7 | 506.9 | 580.5 |
Deferred income taxes | 140.7 | 114.9 |
Prepayments and other current assets | 196.6 | 150 |
Inventories | 43.3 | 52 |
Assets held for sale | 5.4 | 5.1 |
Total current assets | 2,724.20 | 3,493.60 |
Property and equipment, net | 14,916.40 | 15,701.70 |
Goodwill | 3,019.50 | 3,160.30 |
Intangible assets other than goodwill | 3,660.20 | 3,985.70 |
Investments in and advances to non-consolidated affiliates | 213.1 | 100.4 |
Restricted cash | 403.6 | 364.6 |
Deferred charges and other | 693.4 | 720.6 |
Assets held for sale | 466 | 471.2 |
Total assets | 26,096.40 | 27,998.10 |
Current liabilities | ' | ' |
Accounts payable | 371.8 | 376.2 |
Interest payable | 377.7 | 233.7 |
Accrued expenses | 1,180.90 | 1,094.70 |
Current portion of long-term debt | 166.4 | 879.9 |
Liabilities held for sale | 0.7 | 3.8 |
Total current liabilities | 2,097.50 | 2,588.30 |
Long-term debt | 21,173.80 | 20,532.20 |
Deferred credits and other | 739.3 | 823 |
Deferred income taxes | 3,528.30 | 4,334.10 |
Liabilities held for sale | 54.3 | 52.1 |
Total liabilities | 27,593.20 | 28,329.70 |
Commitments and contingencies (Note 17) | ' | ' |
Stockholders’ equity/(deficit) | ' | ' |
Common stock: voting; $0.01 par value; 128.7 and 127.5 shares issued | 1.3 | 1.3 |
Treasury Stock: 2.2 and 2.1 shares | -16.3 | -16.3 |
Additional paid-in capital | 7,003.40 | 6,954.40 |
Accumulated deficit | -8,471.50 | -7,280.20 |
Accumulated other comprehensive loss | -95.6 | -70.9 |
Total Caesars stockholders’ deficit | -1,578.70 | -411.7 |
Noncontrolling interests | 81.9 | 80.1 |
Total deficit | -1,496.80 | -331.6 |
Total liabilities and stockholder's deficit | $26,096.40 | $27,998.10 |
CONSOLIDATED_CONDENSED_BALANCE1
CONSOLIDATED CONDENSED BALANCE SHEETS (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, except Per Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ' | ' |
Allowance for doubtful accounts receivable | $179.90 | $201.70 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares issued | 128.7 | 127.5 |
Treasury stock, shares | 2.2 | 2.1 |
CONSOLIDATED_CONDENSED_STATEME
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Revenues | ' | ' | ' | ' |
Casino | $1,466.60 | $1,578.80 | $4,396.80 | $4,755.70 |
Food and beverage | 382.9 | 389.2 | 1,149.20 | 1,156.60 |
Rooms | 318.5 | 312.1 | 929 | 932.3 |
Management fees | 14.5 | 12.5 | 42.3 | 34.4 |
Other | 225.4 | 203.5 | 642.5 | 580.5 |
Reimbursable management costs | 72.7 | 22.3 | 203.2 | 43.5 |
Less: casino promotional allowances | -300.6 | -322.6 | -881.7 | -937.4 |
Net revenues | 2,180 | 2,195.80 | 6,481.30 | 6,565.60 |
Direct | ' | ' | ' | ' |
Casino | 803.2 | 902.2 | 2,457.60 | 2,725.10 |
Food and beverage | 168.8 | 169.8 | 503.5 | 501.3 |
Rooms | 76.9 | 74.3 | 232.4 | 230.1 |
Property, general, administrative, and other | 548.2 | 519 | 1,592.80 | 1,529.50 |
Reimbursable management costs | 72.7 | 22.3 | 203.2 | 43.5 |
Depreciation and amortization | 130.2 | 178.8 | 433.2 | 533.8 |
Write-downs, reserves, and project opening costs, net of recoveries | 0.5 | 32.8 | 44.7 | 56.9 |
Intangible and tangible asset impairment charges | 930.9 | 419 | 1,055.60 | 626 |
Loss/(income) on interests in non-consolidated affiliates | 4 | -1.5 | 20.4 | 8.8 |
Corporate expense | 37 | 51.7 | 114.3 | 145.2 |
Acquisition and integration costs | 3.2 | 1 | 69.6 | 2.2 |
Amortization of intangible assets | 41.9 | 43.2 | 124.4 | 129.6 |
Total operating expenses | 2,817.50 | 2,412.60 | 6,851.70 | 6,532 |
(Loss)/income from operations | -637.5 | -216.8 | -370.4 | 33.6 |
Interest expense, net of interest capitalized | -563 | -515.8 | -1,677.70 | -1,574.30 |
Gain on early extinguishments of debt | 13 | 0 | 17.5 | 79.5 |
Gain on partial sale of subsidiary | 0 | 0 | 44.1 | 0 |
Other income, including interest income | 0.5 | 4.7 | 8.9 | 19.4 |
Loss from continuing operations before income taxes | -1,187 | -727.9 | -1,977.60 | -1,441.80 |
Benefit for income taxes | 413.4 | 225.3 | 819.3 | 489.5 |
Loss from continuing operations, net of income taxes | -773.6 | -502.6 | -1,158.30 | -952.3 |
Discontinued operations | ' | ' | ' | ' |
Income/(loss) from discontinued operations | 14.9 | 0.8 | -29.3 | -69.4 |
Provision for income taxes | -3.1 | -1.6 | -0.2 | -4.6 |
Income/(loss) from discontinued operations, net of income taxes | 11.8 | -0.8 | -29.5 | -74 |
Reclassification, net of income taxes | -761.8 | -503.4 | -1,187.80 | -1,026.30 |
Less: net loss/(income) attributable to noncontrolling interests | 0.4 | -2.1 | -3.5 | -1.5 |
Net loss attributable to Caesars | ($761.40) | ($505.50) | ($1,191.30) | ($1,027.80) |
Loss per share - basic and diluted | ' | ' | ' | ' |
Loss per share from continuing operations | ($6.12) | ($4.02) | ($9.23) | ($7.62) |
Income/(loss) per share from discontinued operations | $0.09 | ($0.01) | ($0.24) | ($0.59) |
Net loss per share | ($6.03) | ($4.03) | ($9.47) | ($8.21) |
Weighted-average common shares outstanding - basic and diluted | 126.3 | 125.3 | 125.7 | 125.3 |
CONSOLIDATED_CONDENSED_STATEME1
CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE LOSS Statement (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net loss | ($761.80) | ($503.40) | ($1,187.80) | ($1,026.30) |
Other comprehensive (loss)/income: | ' | ' | ' | ' |
Defined benefit plan adjustments | -3.9 | -1.9 | 0.9 | 0.4 |
Foreign currency translation adjustments | 3.3 | -2.2 | -22.4 | -1.9 |
Loss on derivatives reclassified into earnings | 0 | 6.9 | 3.9 | 21.2 |
Unrealized losses on available-for-sale investments | -0.4 | -0.2 | -5.1 | -0.3 |
Total other comprehensive (loss)/income, before income taxes | -1 | 2.6 | -22.7 | 19.4 |
Income tax provision related to items of other comprehensive (loss)/income | -0.9 | -4.1 | -2.1 | -8.7 |
Total other comprehensive (loss)/income, net of income taxes | -1.9 | -1.5 | -24.8 | 10.7 |
Total comprehensive loss | -763.7 | -504.9 | -1,212.60 | -1,015.60 |
Less: amounts attributable to noncontrolling interests: | ' | ' | ' | ' |
Net income | 0.4 | -2.1 | -3.5 | -1.5 |
Foreign currency translation adjustments | 0 | 0.2 | 0.1 | -1.3 |
Total amounts attributable to noncontrolling interests | 0.4 | -1.9 | -3.4 | -2.8 |
Comprehensive loss attributable to Caesars | ($763.30) | ($506.80) | ($1,216) | ($1,018.40) |
CONSOLIDATED_CONDENSED_STATEME2
CONSOLIDATED CONDENSED STATEMENTS OF STOCKHOLDERS' EQUITY/(DEFICIT) (USD $) | Total | Common Stock | Treasury Stock | Additional Paid-in-Capital | Accumulated Deficit | Accumulated Other Comprehensive Income/(Loss) | Total Caesars Stockholders' Equity/(Deficit) | Non-controlling Interests | ||
In Millions, unless otherwise specified | ||||||||||
Beginning balance at Dec. 31, 2011 | $1,053.40 | $0.70 | $0 | $6,885.10 | ($5,782.70) | ($96.40) | $1,006.70 | $46.70 | ||
Stockholders' Equity/Deficit [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ||
Net (loss)/income | -1,026.30 | ' | ' | ' | -1,027.80 | ' | -1,027.80 | 1.5 | ||
Share-based compensation | 25.6 | ' | ' | 25.6 | ' | ' | 25.6 | ' | ||
Initial public offering | 17.2 | 0.6 | ' | 16.6 | ' | ' | 17.2 | ' | ||
Common stock issuances | 0.2 | 0 | [1] | ' | 0.2 | ' | ' | 0.2 | ' | |
Increase in treasury shares | 0 | ' | -16.3 | 16.3 | ' | ' | ' | ' | ||
Contributions and contractual obligations from noncontrolling interests, net of distributions | 31.8 | ' | ' | ' | ' | ' | ' | 31.8 | ||
Other comprehensive income/(loss), net of tax | 10.7 | ' | ' | ' | ' | 9.4 | 9.4 | 1.3 | ||
Other | 2.1 | ' | ' | 2.1 | ' | ' | 2.1 | ' | ||
Ending balance at Sep. 30, 2012 | 114.7 | 1.3 | -16.3 | 6,945.90 | -6,810.50 | -87 | 33.4 | 81.3 | ||
Beginning balance at Dec. 31, 2012 | -331.6 | 1.3 | -16.3 | 6,954.40 | -7,280.20 | -70.9 | -411.7 | 80.1 | ||
Stockholders' Equity/Deficit [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ||
Net (loss)/income | -1,187.80 | ' | ' | ' | -1,191.30 | ' | -1,191.30 | 3.5 | ||
Share-based compensation | 17.8 | ' | ' | 17.8 | ' | ' | 17.8 | ' | ||
Common stock issuances | 15.4 | 0 | [1] | ' | 15.4 | ' | ' | 15.4 | ' | |
Issuances of common stock under stock incentive plans | 1.1 | 0 | [1] | ' | 1.1 | ' | ' | 1.1 | ' | |
Increase in treasury shares | -0.1 | ' | 0 | [1] | -0.1 | ' | ' | -0.1 | ' | |
Contributions and contractual obligations from noncontrolling interests, net of distributions | 35.3 | ' | ' | 24.7 | ' | ' | 24.7 | 10.6 | ||
Decrease in noncontrolling interests including distributions and write-downs | -12.2 | ' | ' | ' | ' | ' | ' | -12.2 | ||
Other comprehensive income/(loss), net of tax | -24.8 | ' | ' | ' | ' | -24.7 | -24.7 | -0.1 | ||
Purchase of additional interest in subsidiary | -9.9 | ' | ' | -9.9 | ' | ' | -9.9 | ' | ||
Ending balance at Sep. 30, 2013 | ($1,496.80) | $1.30 | ($16.30) | $7,003.40 | ($8,471.50) | ($95.60) | ($1,578.70) | $81.90 | ||
[1] | Amount rounds to zero. |
CONSOLIDATED_CONDENSED_STATEME3
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Cash flows from operating activities | ' | ' |
Net loss | ($1,187.80) | ($1,026.30) |
Adjustments to reconcile net loss to cash flows (used in)/provided by operating activities: | ' | ' |
Loss from discontinued operations | 29.5 | 74 |
Gain on early extinguishments of debt | -17.5 | -79.5 |
Depreciation and amortization | 567.1 | 672.7 |
Amortization of deferred finance costs and debt discount/premium | 273 | 232.7 |
Reclassification from, and amortization of, accumulated other comprehensive loss | 4.4 | 21.2 |
Non-cash write-downs and reserves, net of recoveries | 13.7 | 18.8 |
Gain on partial sale of subsidiary | -44.1 | 0 |
Non-cash acquisition and integration costs | 48.9 | 0 |
Unrealized (gains)/losses on fair value of derivatives | -100.6 | 10.9 |
Impairment of intangible and tangible assets | 1,055.60 | 626 |
Loss on interests in non-consolidated affiliates | 20.4 | 8.8 |
Stock-based compensation expense | 18.2 | 43 |
Deferred income taxes | -828.2 | -440.6 |
Change in deferred charges and other | -18 | -3.5 |
Change in deferred credits and other | 4 | -57 |
Change in current assets and liabilities: | ' | ' |
Accounts receivable | 74.9 | -22.3 |
Prepayments and other current assets | -25.7 | -27.6 |
Accounts payable | -1.6 | 6.3 |
Interest payable | 145.2 | 155.9 |
Accrued expenses | -24.5 | 42.4 |
Other | -17.9 | 1.5 |
Cash flows (used in)/provided by operating activities | -11 | 257.4 |
Cash flows from investing activities | ' | ' |
Acquisitions of property and equipment, net of change in related payables | -466.7 | -303.4 |
Change in restricted cash | 671.2 | -551 |
Proceeds from partial sale of subsidiary, net of cash deconsolidated | 50.4 | 0 |
Cash received in conjunction with the sale of a subsidiary, net of cash contributed | 0 | 42.4 |
Payments to acquire businesses, net of transaction costs and cash acquired | -8.6 | 7.7 |
Investments in/advances to non-consolidated affiliates | -36.2 | -22.8 |
Purchases of investment securities | -26.7 | -36 |
Proceeds from the sale and maturity of investment securities | 55.8 | 27 |
Other | -14.1 | -6.3 |
Cash flows provided by/(used in) investing activities | 225.1 | -842.4 |
Cash flows from financing activities | ' | ' |
Proceeds from the issuance of long-term debt | 1,808.10 | 2,469.40 |
Debt issuance costs and fees | -57.8 | -31.9 |
Borrowings under lending agreements | 0 | 453 |
Repayments under lending agreements | 0 | -608 |
Cash paid for early extinguishments of debt | -2,067.80 | -1,450.60 |
Cash paid for loan maturity extension fees | -23.3 | 0 |
Scheduled debt retirements | -9.6 | -12.7 |
Purchase of additional interests in subsidiary | -9.9 | -9.6 |
Contributions from noncontrolling interest owners | 35.3 | 0 |
Proceeds from sale of additional interest in a subsidiary | 0 | 32.2 |
Issuance of common stock, net of fees | 16.2 | 17.4 |
Other | -21.1 | -9.2 |
Cash flows (used in)/provided by financing activities | -329.9 | 850 |
Cash flows from discontinued operations | ' | ' |
Cash flows from operating activities | 0.7 | 29.3 |
Cash flows from investing activities | 65.7 | -2.9 |
Cash flows from financing activities | 0 | 0 |
Net cash provided by discontinued operations | 66.4 | 26.4 |
Net (decrease)/increase in cash and cash equivalents | -49.4 | 291.4 |
Change in cash classified as assets held for sale | -0.2 | 2.5 |
Cash and cash equivalents, beginning of period | 1,757.50 | 891.2 |
Cash and cash equivalents, end of period | $1,707.90 | $1,185.10 |
Organization_and_Basis_of_Pres
Organization and Basis of Presentation | 9 Months Ended |
Sep. 30, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Organization and Basis of Presentation | ' |
Organization and Basis of Presentation | |
Organization | |
Our business is primarily conducted through a wholly owned subsidiary, Caesars Entertainment Operating Company, Inc. ("CEOC"), although certain material properties are not owned by CEOC. As of September 30, 2013, we owned, operated, or managed, through various subsidiaries, 52 casinos in 13 U.S. states and six countries. Of the 52 casinos, 39 are in the United States, including 20 land-based casinos, 10 riverboat or dockside casinos, three managed casinos on Indian lands, three managed casinos in Ohio, one casino combined with a greyhound racetrack, one casino combined with a thoroughbred racetrack, and one casino combined with a harness racetrack. Our 13 international casinos are comprised of eight land-based casinos in England, two in Egypt, one in Scotland, one in South Africa and one in Canada. We view each casino property as an operating segment and aggregate such casino properties into one reportable segment. | |
On January 28, 2008, Caesars Entertainment was acquired by affiliates of Apollo Global Management, LLC (together with such affiliates, “Apollo”) and affiliates of TPG Capital, LP (together with such affiliates, “TPG” and, together with Apollo, the “Sponsors”) in an all-cash transaction (the “Acquisition”). Our common stock trades on the NASDAQ Global Select Market (“NASDAQ”) under the symbol “CZR.” | |
Basis of Presentation | |
The accompanying unaudited consolidated condensed financial statements of the Company have been prepared under the rules and regulations of the Securities and Exchange Commission ("SEC") applicable for interim periods and, therefore, do not include all information and footnotes necessary for complete financial statements in conformity with accounting principles generally accepted in the United States ("GAAP"). The results for the interim periods reflect all adjustments (consisting primarily of normal recurring adjustments) that management considers necessary for a fair presentation of financial position, results of operations, and cash flows. The results of operations for our interim periods are not necessarily indicative of the results of operations that may be achieved for the entire 2013 fiscal year. | |
The financial information for the three and nine months ended September 30, 2012 is derived from our consolidated condensed financial statements and footnotes included in the Quarterly Report on Form 10-Q for the three months ended September 30, 2012 and has been revised to reflect the results of operations and cash flows of the Alea Leeds casino and the subsidiaries that hold a land concession in Macau as discontinued operations. See Note 3, "Acquisitions, Investments, Dispositions and Divestitures." | |
We have revised certain other amounts for prior periods to conform to our 2013 presentation. This Form 10-Q filing should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2012, as amended ("2012 10-K"). |
Recently_Issued_Accounting_Pro
Recently Issued Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2013 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | ' |
Recently Issued Accounting Pronouncements | ' |
Recently Issued Accounting Pronouncements | |
Effective January 1, 2013, we adopted guidance issued by the Financial Accounting Standards Board ("FASB") on the reporting of reclassifications out of accumulated other comprehensive income. The guidance requires an entity to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income if the amount is reclassified to net income in its entirety in the same reporting period. As this is a presentation and disclosure requirement, there was no impact on our consolidated financial position, results of operations or cash flows upon adoption. | |
In February 2013, the FASB issued new guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date. The new guidance is effective for us January 1, 2014. We are currently assessing what impact, if any, the adoption of this new guidance will have on our consolidated financial position, results of operations and cash flows. | |
In March 2013, the FASB issued new guidance applicable to the release of the cumulative translation adjustment into net income when a parent either sells a part or all of its investment in a foreign entity or no longer holds a controlling interest in a subsidiary or group of assets that is a nonprofit activity or a business within a foreign entity. The new guidance is effective for us January 1, 2014. We plan to adopt the guidance prospectively as of January 1, 2014 and will evaluate the impact, if any, that this guidance will have on our consolidated financial position, results of operations and cash flows should we sell a part or all of an investment in a foreign entity. | |
In July 2013, the FASB issued new guidance for the presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The new guidance is effective for us January 1, 2014. Historically, we have complied with the presentation and disclosure requirements provided in this new guidance. As such, we do not expect this new guidance to have a material impact on our consolidated financial position or results of operations. |
Acquisitions_Investments_Dispo
Acquisitions, Investments, Dispositions and Divestitures | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Business Combinations [Abstract] | ' | |||||||||||||||
Acquisitions, Investments, Dispositions and Divestitures | ' | |||||||||||||||
Acquisitions, Investments, Dispositions and Divestitures | ||||||||||||||||
Acquisitions | ||||||||||||||||
Buffalo Studios, LLC and Bubbler Media | ||||||||||||||||
In December 2012, Caesars Interactive Entertainment, Inc. ("CIE") purchased substantially all of the net assets of Buffalo Studios, LLC ("Buffalo"), a social and mobile games developer and owner of Bingo Blitz, for consideration of $45.2 million plus an earnout payment with an acquisition date fair value estimated at $5.6 million. During the first quarter 2013, the estimated fair value of the earnout was increased to $58.0 million, with a charge to acquisition and integration costs of $52.4 million. The estimated fair value of the earnout was reduced to $54.5 million during the second quarter 2013, resulting in a $3.5 million reduction in the earnout accrual, recorded in acquisition and integration costs. As of September 30, 2013, the estimated fair value of the earnout remains $54.5 million. | ||||||||||||||||
The preliminary purchase price allocations include total assets, liabilities and net assets acquired of Buffalo of $52.9 million, $7.7 million and $45.2 million, respectively. | ||||||||||||||||
In September 2012, CIE purchased the assets of Bubbler Media ("Bubbler") a social and mobile games developer based in Belarus, for consideration of approximately $7.5 million. The final purchase price allocation for Bubbler included net assets acquired of $7.5 million. | ||||||||||||||||
The purchase prices of Buffalo and Bubbler were allocated based on estimated fair values of the assets acquired and liabilities assumed, with the excess of the purchase price over the estimated fair value of the net tangible and intangible assets acquired recorded as goodwill. The Company has not yet finalized its purchase price allocation for the Buffalo transaction and is in the process of performing final reviews of the values assigned to assets acquired and liabilities assumed. | ||||||||||||||||
Dispositions | ||||||||||||||||
Conrad Punta del Este Resort and Casino | ||||||||||||||||
In November 2012, we signed a definitive agreement with Enjoy S.A. (“Enjoy”) to form a strategic relationship in Latin America and completed the transaction in May 2013. Under the terms of the agreement, Enjoy acquired 45% of Baluma S.A., our subsidiary that owns and operates the Conrad Punta del Este Resort and Casino in Uruguay (the “Conrad”), in exchange for total consideration of $139.5 million. After customary deductions for expenses associated with the closing, we received $50.4 million in cash, net of $29.7 million of cash deconsolidated, a 4.5% equity stake in Enjoy, and a deferred cash payment of $31.9 million due by January 2014, which is included in other current assets as of September 30, 2013. The shares of Enjoy that we acquired are classified as available-for-sale securities. These securities are adjusted to their market value at every reporting period, with unrealized gains or losses recorded as a component of other comprehensive income. During the three and nine months ended September 30, 2013, these market value adjustments resulted in unrealized losses of $0.7 million and $3.6 million, respectively. | ||||||||||||||||
In connection with the transaction, Enjoy assumed control of the Baluma S.A. board and primary responsibility for management of the Conrad. Upon completion of the transaction, we deconsolidated Baluma S.A. from our financial statements and began accounting for Baluma S.A. as an investment in non-consolidated affiliates utilizing the equity method of accounting. | ||||||||||||||||
Alea Leeds | ||||||||||||||||
On March 4, 2013, we permanently closed our Alea Leeds casino in England. As a result of the closure, during the quarter ended March 31, 2013, we recorded charges of $5.7 million related to the write-down of tangible and intangible assets, net of currency translation adjustment, and $15.8 million related to exit costs, comprised of non-cancellable contract costs of $15.1 million, employment related costs of $0.5 million and other costs in the amount of $0.2 million. During the three and nine months ended September 30, 2013, the Company paid $0.5 million and $1.5 million of exit-related costs, respectively, accreted interest expense of $0.5 million and $1.0 million, respectively, and recognized increases in the liability of $1.0 million and $1.2 million, respectively, due mainly to the impact of currency translation adjustments. As of September 30, 2013, $16.5 million remains accrued. We have presented the operations of Alea Leeds casino as discontinued operations in the Consolidated Condensed Statements of Operations for the three and nine months ended September 30, 2013 and 2012. See “Discontinued Operations” below. | ||||||||||||||||
Harrah's St. Louis | ||||||||||||||||
On November 2, 2012, the Company sold its Harrah's St. Louis casino and recorded a pre-tax gain of $9.3 million on the sale. As a result of working capital adjustments in connection with such sale, the Company recorded reductions to the originally recorded pre-tax gain of $0.7 million in the first quarter of 2013. We have presented the results of Harrah's Maryland Heights, LLC, previous owner of the Harrah's St. Louis casino, as discontinued operations in our Consolidated Condensed Statements of Operations for the three and nine months ended September 30, 2012. See “Discontinued Operations” below. | ||||||||||||||||
Macau Land Concession | ||||||||||||||||
During the second quarter of 2012, we determined that it was more likely than not that we would divest of our investment in a land concession in Macau prior to the end of the remaining 35-year term of the concession (the “Macau Land Concession”). As a result, we performed an impairment assessment on the Macau Land Concession and recorded an impairment charge of $101.0 million. | ||||||||||||||||
In the fourth quarter of 2012, the Company began discussions with interested investors regarding a sale of the subsidiaries that hold the Macau Land Concession. As a result of this plan of disposal, the assets and liabilities have been classified as held for sale in our Consolidated Condensed Balance Sheets at September 30, 2013 and December 31, 2012. See “Held for Sale” below. We have presented the operations of the business as discontinued operations in the Consolidated Condensed Statements of Operations for the three and nine months ended September 30, 2013 and 2012. See “Discontinued Operations” below. We have adjusted the book value of the Macau Land Concession each reporting period to the estimated sales price less cost to sell and, as a result, recorded an additional reduction to the book value of $21.0 million during the first quarter of 2013. | ||||||||||||||||
On August 6, 2013, the Company, along with certain of its wholly owned subsidiaries, entered into a share purchase agreement with Pearl Dynasty Investments Limited (“Pearl Dynasty”), pursuant to which Pearl Dynasty will purchase from the Company all of the equity interests of the subsidiaries that hold the Macau Land Concession for a purchase price of $438.0 million subject to customary closing conditions. During the third quarter of 2013, the Company increased the recorded book value by $15.2 million to reflect the final estimated fair value less cost to sell. | ||||||||||||||||
The Purchase Agreement required Pearl Dynasty to deposit certain amounts with the Company in connection with the transaction. Pearl Dynasty deposited $21.9 million on August 7, 2013, and an additional $43.8 million on August 8, 2013. The deposits were applied to the purchase price at closing of the transaction, which occurred on November 1, 2013. See Note 21, "Subsequent Events." | ||||||||||||||||
The Company expects to use the net proceeds from the sale, which were approximately $420.0 million, to fund CEOC capital expenditures or to repurchase certain outstanding debt obligations of CEOC. | ||||||||||||||||
See Note 21, "Subsequent Events." | ||||||||||||||||
Atlantic City Marketplace Parcels | ||||||||||||||||
In June 2013, we signed an agreement with the Casino Reinvestment Development Authority (“CRDA”) under which we have agreed to convey certain land parcels with an appraised value of $7.3 million to the CRDA (the “Marketplace Parcels”) on which the CRDA may construct a marketplace-style retail development project. The CRDA is a New Jersey state governmental agency responsible for directing the spending of casino reinvestment funds for the benefit of Atlantic City. Casino reinvestment funds (also known as investment alternative tax obligation deposits, or IAT) are paid to the CRDA on a monthly basis equal to 1.25% of monthly gross gaming revenues. In return for the Marketplace Parcels, we will receive a credit against future IAT payable to the CRDA in the amount of $7.3 million. Conveyance of the Marketplace Parcels is subject to, among other things, the CRDA’s determination that the Marketplace Parcels are suitable for their development project. During the third quarter 2013, the CRDA substantially completed their suitability tests. As a result of this plan of disposal, the Marketplace Parcels are classified as held for sale as of September 30, 2013. See "Held for Sale" below. The Marketplace Parcels were tested for recoverability during the third quarter 2013 as a result of their classification as held for sale. See Note 6, "Property and Equipment, net." | ||||||||||||||||
Held for Sale | ||||||||||||||||
Assets and liabilities classified as held for sale relate to the subsidiaries that hold our land concessions in Macau and the Marketplace Parcels in Atlantic City are as follows: | ||||||||||||||||
(In millions) | September 30, 2013 | December 31, 2012 | ||||||||||||||
Assets | ||||||||||||||||
Cash and cash equivalents | $ | 4.9 | $ | 4.7 | ||||||||||||
Other current assets | 0.5 | 0.4 | ||||||||||||||
Assets held for sale, current | $ | 5.4 | $ | 5.1 | ||||||||||||
Property and equipment, net | $ | 466 | $ | 471.2 | ||||||||||||
Assets held for sale, non-current | $ | 466 | $ | 471.2 | ||||||||||||
Liabilities | ||||||||||||||||
Accounts payable and accrued expenses | $ | 0.7 | $ | 3.8 | ||||||||||||
Liabilities held for sale, current | $ | 0.7 | $ | 3.8 | ||||||||||||
Deferred credits and other | $ | 2.5 | $ | 0.2 | ||||||||||||
Deferred income taxes | 51.8 | 51.9 | ||||||||||||||
Liabilities held for sale, non-current | $ | 54.3 | $ | 52.1 | ||||||||||||
Discontinued Operations | ||||||||||||||||
Net revenues, pre-tax income/(loss) from operations, and income/(loss), net of income taxes presented as discontinued operations are as follows: | ||||||||||||||||
Quarter Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||
Net revenues | ||||||||||||||||
Harrah's St. Louis | $ | — | $ | 60.8 | $ | — | $ | 189.3 | ||||||||
Macau | 0.7 | 1 | 2.5 | 2.6 | ||||||||||||
Alea Leeds | — | 1.6 | 0.7 | 4.3 | ||||||||||||
Total net revenues | $ | 0.7 | $ | 63.4 | $ | 3.2 | $ | 196.2 | ||||||||
Pre-tax income/(loss) from operations | ||||||||||||||||
Harrah's St. Louis | $ | — | $ | 4.6 | $ | (0.7 | ) | $ | 46.5 | |||||||
Macau | 15.3 | (2.8 | ) | (5.2 | ) | (112.4 | ) | |||||||||
Alea Leeds | (0.4 | ) | (1.0 | ) | (23.4 | ) | (3.5 | ) | ||||||||
Total pre-tax income/(loss) from discontinued | $ | 14.9 | $ | 0.8 | $ | (29.3 | ) | $ | (69.4 | ) | ||||||
operations | ||||||||||||||||
Income/(loss), net of income taxes | ||||||||||||||||
Harrah's St. Louis | $ | (0.1 | ) | $ | 2.8 | $ | (0.5 | ) | $ | 28.5 | ||||||
Macau | 12.3 | (2.6 | ) | (5.6 | ) | (99.0 | ) | |||||||||
Alea Leeds | (0.4 | ) | (1.0 | ) | (23.4 | ) | (3.5 | ) | ||||||||
Total income/(loss) from discontinued | $ | 11.8 | $ | (0.8 | ) | $ | (29.5 | ) | $ | (74.0 | ) | |||||
operations, net of income taxes | ||||||||||||||||
Caesars_Growth_Partners_Transa
Caesars Growth Partners Transaction (Notes) | 9 Months Ended |
Sep. 30, 2013 | |
Equity Method Investments and Joint Ventures [Abstract] | ' |
Caesars Growth Partners Transaction | ' |
Caesars Growth Partners Transaction | |
On April 23, 2013, our board of directors approved the material terms of a proposed strategic transaction, pursuant to which the Company will form a new growth-oriented entity, Caesars Growth Partners, LLC (“Growth Partners”), to be owned by the Company and participating Caesars stockholders, including the Sponsors. Participating Caesars stockholders will own their interests in Growth Partners through Caesars Acquisition Company (“CAC”), a new company created to facilitate the transaction. CAC will hold all of the voting units of Growth Partners. The Company may not sell or transfer any units of Growth Partners without the consent of CAC prior to the fifth anniversary of the issuance. From and after the fifth anniversary of the issuance, the Company may transfer units of Growth Partners to a non-competitor of Caesars Entertainment. In addition, after the fifth anniversary of the issuance, the non-voting units of Growth Partners will be exchangeable into non-voting shares of CAC with terms equivalent to the non-voting units and with rights to have such shares registered under the Securities Act of 1933. | |
The Company and Growth Partners will have the opportunity to work together to develop future projects. A committee of the board of directors of the Company consisting of disinterested directors will make determinations on behalf of the Company with respect to any new investment and acquisition opportunities. The Company will have the option to (1) pursue any potential project itself or (2) decline the project for itself, after which Growth Partners may elect or decline to pursue the project. The Company will have the first right to make an offer if Growth Partners plans to sell any assets acquired from the Company. | |
After the third anniversary of the closing of the transaction, the Company and/or its subsidiaries will have the right to acquire the voting units of Growth Partners, or at the election of CAC, the shares of CAC, subject to certain conditions, including shareholder and Board approval. Following the fifth anniversary of the closing of the transaction and until the eight years and six months anniversary of the closing of the transaction, the board of directors of CAC will have the right to cause a liquidation of Growth Partners, which means the sale or winding up of Growth Partners, or other monetization of all of its assets and the distribution of the proceeds remaining after satisfaction of all liabilities of Growth Partners to the holders of Growth Partners’ units. Unless otherwise agreed by the holders of the non-voting units, on the eight years and six months anniversary of the closing of the transaction, if CAC has not previously exercised its liquidation right, Growth Partners shall liquidate as described above. | |
See Note 21, "Subsequent Events." |
Restricted_Cash
Restricted Cash | 9 Months Ended |
Sep. 30, 2013 | |
Cash and Cash Equivalents [Abstract] | ' |
Restricted Cash | ' |
Restricted Cash | |
In December 2012, CEOC completed the offering of $750.0 million aggregate principal amount of 9.0% senior secured notes due 2020, the proceeds of which were placed into escrow and recorded as short-term restricted cash at December 31, 2012. On February 20, 2013, the escrow conditions were satisfied, and the cash was released from restriction. | |
As of September 30, 2013, short term restricted cash is primarily comprised of amounts related to interest payments on outstanding debt, and long term restricted cash primarily represents funds reserved for ongoing development projects. |
Property_and_Equipment_net
Property and Equipment, net | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||||||||||
Property and Equipment, net | ' | |||||||||||||||
Property and Equipment, net | ||||||||||||||||
Property and equipment, net consists of the following: | ||||||||||||||||
(In millions) | September 30, 2013 | December 31, 2012 | ||||||||||||||
Land and land improvements | $ | 6,810.30 | $ | 7,208.80 | ||||||||||||
Buildings, riverboats, and improvements | 8,102.90 | 8,725.70 | ||||||||||||||
Furniture, fixtures, and equipment | 2,530.70 | 2,491.00 | ||||||||||||||
Construction in progress | 694.8 | 378.3 | ||||||||||||||
18,138.70 | 18,803.80 | |||||||||||||||
Less: accumulated depreciation | (3,222.3 | ) | (3,102.1 | ) | ||||||||||||
$ | 14,916.40 | $ | 15,701.70 | |||||||||||||
Depreciation expense, which is included in depreciation and amortization, corporate expense and income/(loss) from discontinued operations in our Consolidated Condensed Statements of Operations, is as follows: | ||||||||||||||||
Quarter Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||
Depreciation expense | $ | 131.7 | $ | 188.2 | $ | 438.1 | $ | 571.8 | ||||||||
Interest expense is capitalized on internally constructed assets at the applicable weighted-average borrowing rates of interest. Capitalization of interest ceases when the project is substantially complete or construction activity is suspended for more than a brief period of time. | ||||||||||||||||
Tangible Asset Impairments | ||||||||||||||||
Continuing Operations | ||||||||||||||||
We review the carrying value of our long-lived assets for impairment whenever events or circumstances indicate that the carrying value of an asset may not be recoverable from the estimated future cash flows expected to result from its use and eventual disposition. | ||||||||||||||||
Over time, we have experienced deteriorating gaming volumes at properties in certain of our markets and, as a result, the Company continues to evaluate its options regarding its participation in those markets. In connection with these evaluations, the Company determined it was necessary to complete an assessment for impairment for certain of our properties. Upon the failure of step one of the assessment, we performed a valuation of the long-lived assets of the properties. As a result of these assessments, in September 2013, we recorded tangible asset impairments of $477.1 million and $112.3 million related to certain properties in Atlantic City and Tunica, Mississippi, respectively. With the assistance of third party valuation experts, we estimated the fair value of the properties starting with a “Replacement Cost New” approach and then deducting appropriate amounts for both functional and economic obsolescence to arrive at the fair value estimates. These analyses are sensitive to management assumptions and the estimates of the obsolescence factors, and increases or decreases in these assumptions and estimates could have a material impact on the analyses. | ||||||||||||||||
We have been in negotiations with potential investors on the possible sale of a real estate project owned by the Company related to investments of the CRDA. The Company estimated the fair value of the project based on a market value approach, and in June 2013, we recorded a tangible asset impairment of $22.4 million primarily related to our investment in this real estate project. | ||||||||||||||||
The Company has entered into an agreement to convey the Marketplace Parcels with an appraised value of $7.3 million to the CRDA; therefore, these real estate assets are classified as held for sale as of September 30, 2013. As a result of the held for sale classification, we tested the real estate assets for recoverability during the third quarter 2013 and recorded a tangible asset impairment of $21.7 million related to the Marketplace Parcels. See Note 3, "Acquisitions, Investments, Dispositions and Divestitures." | ||||||||||||||||
As a result of a possible transaction involving certain of our land holdings in Biloxi, Mississippi, we tested the land holdings for recoverability during the second quarter 2013. As a result of our analysis, we recorded tangible asset impairments of $79.3 million to adjust the land holdings to fair value. | ||||||||||||||||
Discontinued Operations | ||||||||||||||||
We recorded an impairment related to our land concession in Macau in the second quarter of 2012. In response to the assets and liabilities being classified as held for sale an additional downward adjustment to fair value less cost to sell was recorded in the first quarter of 2013. In the third quarter of 2013 a portion of this adjustment was reversed to equate the book value to the final estimated sales price less cost to sell. See Note 3, "Acquisitions, Investments, Dispositions and Divestitures." |
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets | 9 Months Ended | |||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||||||||
Goodwill and Other Intangible Assets | ' | |||||||||||||||||||||||||
Goodwill and Other Intangible Assets | ||||||||||||||||||||||||||
Each year, we perform an annual impairment assessment of goodwill and other non-amortizing intangible assets as of September 30, or more frequently if impairment indicators exist. | ||||||||||||||||||||||||||
During the third quarter of 2013, we completed a preliminary annual assessment of goodwill as of September 30, which resulted in impairment charges of $133.3 million. These impairment charges were the result of reduced projections within our long-term operating plan. We are not able to finalize our annual impairment assessment until such time as we finalize fair value determinations, which we expect to complete during fourth quarter 2013. | ||||||||||||||||||||||||||
For our preliminary assessment, we determined the estimated fair value of each reporting unit as a function, or multiple, of earnings before interest, taxes, depreciation and amortization (“EBITDA”), combined with estimated future cash flows discounted at rates commensurate with the capital structure and cost of capital of comparable market participants, giving appropriate consideration to the prevailing borrowing rates within the casino industry in general. We also evaluated the aggregate fair value of our reporting units and other non-operating assets in comparison to our aggregate debt and equity market capitalization as of September 30, 2013. Both EBITDA multiples and discounted cash flows are common measures used to value and buy or sell businesses in our industry. | ||||||||||||||||||||||||||
Also during the third quarter of 2013, we completed our annual assessment of other non-amortizing intangible assets as of September 30, which resulted in impairment charges of $175.2 million, including $98.0 million related to trademarks and $77.2 million related to gaming rights. These impairment charges were the result of reduced projections associated with these intangible assets within our long-term operating plan. | ||||||||||||||||||||||||||
As a result of the impairments on long lived assets for one of our properties in Atlantic City, we recognized an impairment charge of $11.4 million related to certain amortizing intangible assets at a property in the region. | ||||||||||||||||||||||||||
During each of the first and second quarters of 2013, due to various factors, including changes in projected earnings, we performed interim impairment assessments of goodwill and other non-amortizing intangible assets and, as a result, we recorded impairment charges of $20.0 million and $3.0 million, respectively, related to certain gaming rights. | ||||||||||||||||||||||||||
We determine the estimated fair values of our non-amortizing intangible assets by primarily using the Relief From Royalty Method and Excess Earnings Method under the income approach. | ||||||||||||||||||||||||||
The following table sets forth changes in our goodwill and other intangible assets for the nine months ended September 30, 2013: | ||||||||||||||||||||||||||
Amortizing | Non-Amortizing Intangible Assets | |||||||||||||||||||||||||
(In millions) | Intangible Assets | Goodwill | Other | |||||||||||||||||||||||
Balance at December 31, 2012 | $ | 1,027.60 | $ | 3,160.30 | $ | 2,958.10 | ||||||||||||||||||||
Impairments | (11.4 | ) | (133.3 | ) | (198.2 | ) | ||||||||||||||||||||
Amortization expense | (124.4 | ) | — | — | ||||||||||||||||||||||
Foreign currency translation | (0.1 | ) | — | (0.5 | ) | |||||||||||||||||||||
Additions | 11.4 | — | — | |||||||||||||||||||||||
Disposals | — | (14.9 | ) | — | ||||||||||||||||||||||
Other | (1.7 | ) | 7.4 | (0.6 | ) | |||||||||||||||||||||
Balance at September 30, 2013 | $ | 901.4 | $ | 3,019.50 | $ | 2,758.80 | ||||||||||||||||||||
During the second quarter of 2013, we recorded a $14.9 million reduction in goodwill in connection with the deconsolidation of Baluma S.A. upon the closing of the Conrad transaction. See Note 3, "Acquisitions, Investments, Dispositions and Divestitures." | ||||||||||||||||||||||||||
The following table provides the gross carrying value and accumulated amortization for each major class of intangible assets other than goodwill: | ||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||||
(Dollars in millions) | Weighted | Gross | Accumulated | Net | Gross | Accumulated | Net | |||||||||||||||||||
Average | Carrying | Amortization | Carrying | Carrying | Amortization | Carrying | ||||||||||||||||||||
Remaining | Amount | Amount | Amount | Amount | ||||||||||||||||||||||
Useful Life | ||||||||||||||||||||||||||
(in years) | ||||||||||||||||||||||||||
Amortizing intangible assets | ||||||||||||||||||||||||||
Customer relationships | 6.3 | $ | 1,432.10 | $ | (699.7 | ) | $ | 732.4 | $ | 1,456.70 | $ | (618.0 | ) | $ | 838.7 | |||||||||||
Contract rights | 1.2 | 145.1 | (76.4 | ) | 68.7 | 145.1 | (66.3 | ) | 78.8 | |||||||||||||||||
Patented technology | 3 | 166.8 | (94.5 | ) | 72.3 | 156.7 | (76.6 | ) | 80.1 | |||||||||||||||||
Gaming rights | 10.8 | 42.8 | (14.8 | ) | 28 | 42.8 | (12.8 | ) | 30 | |||||||||||||||||
Trademarks | — | — | — | — | 1.7 | (1.7 | ) | — | ||||||||||||||||||
$ | 1,786.80 | $ | (885.4 | ) | 901.4 | $ | 1,803.00 | $ | (775.4 | ) | 1,027.60 | |||||||||||||||
Non-amortizing intangible assets | ||||||||||||||||||||||||||
Trademarks | 1,601.50 | 1,699.70 | ||||||||||||||||||||||||
Gaming rights | 1,157.30 | 1,258.40 | ||||||||||||||||||||||||
2,758.80 | 2,958.10 | |||||||||||||||||||||||||
Total intangible assets other than goodwill | $ | 3,660.20 | $ | 3,985.70 | ||||||||||||||||||||||
Debt
Debt | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||||
Debt | ' | ||||||||||||||||
Debt | |||||||||||||||||
In October 2013, we completed the Caesars Entertainment Resort Properties refinancing and used the net proceeds of the offering of notes and borrowings under the term loans, together with cash on hand at the time, to retire 100% of the principal amount of loans under the mortgage and mezzanine loan agreements entered into by certain subsidiaries of the CMBS properties, repay in full all amounts outstanding under the senior secured credit facility entered into by Caesars and Caesars Linq, LLC and Caesars Octavius, LLC, each an indirect subsidiary of Caesars, and to pay related fees and expenses. See Note 21, "Subsequent Events." | |||||||||||||||||
The following table presents our outstanding debt as of September 30, 2013 and December 31, 2012: | |||||||||||||||||
Detail of Debt (Dollars in millions) | Final | Rate(s) | Face Value | Book Value | Book Value | ||||||||||||
Maturity | |||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||
Credit Facilities (a) | |||||||||||||||||
Term Loans B1 - B3 | 2015 | 3.18% - 3.25% | $ | 29.1 | $ | 29.1 | $ | 1,025.80 | |||||||||
Term Loan B4 | 2016 | 9.50% | 962.5 | 949.6 | 954.5 | ||||||||||||
Term Loan B5 | 2018 | 4.43% | 991.9 | 989.2 | 1,218.80 | ||||||||||||
Term Loan B6 | 2018 | 5.43% | 2,431.90 | 2,398.40 | 2,812.60 | ||||||||||||
Revolving Credit Facility | 2014 | — | — | — | — | ||||||||||||
Revolving Credit Facility | 2017 | — | — | — | — | ||||||||||||
Secured Debt | |||||||||||||||||
Senior Secured Notes (a) | 2017 | 11.25% | 2,095.00 | 2,064.70 | 2,060.20 | ||||||||||||
Senior Secured Notes (a) | 2020 | 8.50% | 1,250.00 | 1,250.00 | 1,250.00 | ||||||||||||
Senior Secured Notes (a) | 2020 | 9.00% | 3,000.00 | 2,953.20 | 1,486.90 | ||||||||||||
CMBS Financing | 2015 | (c) | 3.68% | 4,389.00 | 4,371.10 | 4,660.50 | |||||||||||
Second-Priority Senior Secured Notes (a) | 2018 | 12.75% | 750 | 743.7 | 742.9 | ||||||||||||
Second-Priority Senior Secured Notes (a) | 2018 | 10.00% | 4,528.10 | 2,377.70 | 2,260.20 | ||||||||||||
Second-Priority Senior Secured Notes (a) | 2015 | 10.00% | 214.8 | 184.4 | 173.7 | ||||||||||||
Chester Downs Senior Secured Notes | 2020 | 9.25% | 330 | 330 | 330 | ||||||||||||
PHW Las Vegas Senior Secured Loan | 2015 | (d) | 3.04% | 510 | 464 | 438.2 | |||||||||||
LINQ/Octavius Senior Secured Loan | 2017 | (c) | 9.25% | 450 | 447 | 446.5 | |||||||||||
Bill's Gamblin' Hall & Saloon Credit Facility | 2019 | 11.00% | 185 | 181.6 | 181.4 | ||||||||||||
CBAC | 2020 | 8.25% | 225 | 218.5 | — | ||||||||||||
Subsidiary-Guaranteed Debt (b) | |||||||||||||||||
Senior Notes | 2016 | 10.75% | 478.6 | 478.6 | 478.6 | ||||||||||||
Senior PIK Toggle Notes | 2018 | 10.75% - 11.50% | 10.9 | 10.9 | 9.7 | ||||||||||||
Unsecured Senior Debt (a) | |||||||||||||||||
5.38% | 2013 | 5.38% | 80.7 | 79.5 | 116.6 | ||||||||||||
7.00% | 2013 | 7.00% | — | — | 0.6 | ||||||||||||
5.63% | 2015 | 5.63% | 364.4 | 322.6 | 306.7 | ||||||||||||
6.50% | 2016 | 6.50% | 248.7 | 209.5 | 200.9 | ||||||||||||
5.75% | 2017 | 5.75% | 147.9 | 113.3 | 108.7 | ||||||||||||
Floating Rate Contingent Convertible | 2024 | 0.57% | 0.2 | 0.2 | 0.2 | ||||||||||||
Senior Notes | |||||||||||||||||
Other Unsecured Borrowings | |||||||||||||||||
Special Improvement District Bonds | 2037 | 5.30% | 62.9 | 62.9 | 64.3 | ||||||||||||
Other | 2016 | 0.00% - 6.00% | 84.7 | 84.7 | 47.7 | ||||||||||||
Capitalized Lease Obligations | to 2017 | 3.57% - 11.00% | 25.8 | 25.8 | 35.9 | ||||||||||||
Total Debt | 23,847.10 | 21,340.20 | 21,412.10 | ||||||||||||||
Current Portion of Long-Term Debt | (167.6 | ) | (166.4 | ) | (879.9 | ) | |||||||||||
Long-Term Debt | $ | 23,679.50 | $ | 21,173.80 | $ | 20,532.20 | |||||||||||
___________________ | |||||||||||||||||
(a) | Guaranteed by Caesars Entertainment. | ||||||||||||||||
(b) | Guaranteed by Caesars Entertainment and certain wholly owned subsidiaries of CEOC. | ||||||||||||||||
(c) | Refinanced October 2013. See Note 21, "Subsequent Events." | ||||||||||||||||
(d) | Based on our ability and intent, assumes the exercise of extension options to move the maturity from 2013 to 2015, subject to certain conditions. | ||||||||||||||||
As of September 30, 2013 and December 31, 2012, book values are presented net of unamortized discounts of $2,506.9 million and $2,691.0 million, respectively. | |||||||||||||||||
Current Portion of Long-Term Debt | |||||||||||||||||
Our current maturities of long-term debt include required interim principal payments on certain term loans under the senior secured credit facilities, the special improvement district bonds, other unsecured borrowings and capitalized lease obligations. The current portion of long-term debt also includes $26.0 million of 10.0% second-priority senior secured notes due 2018, $24.9 million of 10.0% second-priority senior secured notes due 2015 and $80.7 million of 5.375% unsecured senior debt due 2013. Our current maturities exclude the PHW Las Vegas senior secured loan due in December 2013 based upon our ability and intent to exercise our options to extend the maturities to 2015. | |||||||||||||||||
The current portion of long-term debt at December 31, 2012 includes $750.0 million of 9.0% notes issued in December 2012 pending satisfaction of certain escrow conditions. On February 20, 2013, the escrow conditions were satisfied and the debt obligation was reclassified to long-term. | |||||||||||||||||
CEOC Credit Facilities | |||||||||||||||||
In connection with the Acquisition, CEOC entered into the senior secured credit facilities (the “Credit Facilities”). This financing is neither secured nor guaranteed by Caesars’ other direct, wholly owned subsidiaries, including the subsidiaries that own properties that are security for the CMBS Financing, as defined in our 2012 10-K. | |||||||||||||||||
In January and February 2013, CEOC converted $133.9 million aggregate principal amount of original maturity revolver commitments held by consenting lenders to Term B-6 Loans and terminated $133.9 million principal amount of revolving commitments of extending lenders. | |||||||||||||||||
In connection with the February 2013 notes offering described in the CEOC Notes section below, CEOC received the requisite lenders’ consent and entered into a bank amendment to its Credit Facilities to, among other things: (i) use the net cash proceeds of the February 2013 notes offering to repay a portion of CEOC’s existing term loans as described in the CEOC Notes section below; (ii) obtain up to $75.0 million of extended revolving facility commitments with a maturity of January 28, 2017, which received all required regulatory approvals in April 2013, (iii) increase the accordion capacity under the Credit Facilities by an additional $650.0 million (which may be used to, among other things, establish extended revolving facility commitments under the Credit Facilities); (iv) modify the calculation of the senior secured leverage ratio for purposes of the maintenance test under the Credit Facilities to exclude the notes issued in February 2013; and (v) modify certain other provisions of the Credit Facilities. | |||||||||||||||||
As of September 30, 2013, our Credit Facilities provide for senior secured financing of up to $4,630.8 million, consisting of (i) senior secured term loans in an aggregate principal amount of $4,415.4 million and (ii) a senior secured revolving credit facility in an aggregate principal amount of up to $215.5 million, with $109.4 million maturing January 28, 2014 and $106.1 million maturing on January 28, 2017, including both a letter of credit sub-facility and a swingline loan sub-facility. The term loans under the Credit Facilities currently require scheduled quarterly payments of $2.5 million, with the balance due at maturity. As of September 30, 2013, the senior secured term loans are comprised of $29.1 million maturing on January 28, 2015, $962.5 million maturing on October 31, 2016, and $3,423.8 million maturing on January 28, 2018. As of September 30, 2013, $100.5 million of the revolving credit facility is committed to outstanding letters of credit. After consideration of the letter of credit commitments, $114.9 million of additional borrowing capacity was available to the Company under its revolving credit facility as of September 30, 2013. | |||||||||||||||||
CEOC Notes | |||||||||||||||||
Issuances | |||||||||||||||||
In December 2012, CEOC completed the offering of $750.0 million aggregate principal amount of 9.0% senior secured notes due 2020. On February 20, 2013, when the proceeds were released from escrow, CEOC used $350.0 million of the proceeds to repay a portion of the existing term loans under the Credit Facilities at par. | |||||||||||||||||
In February 2013, CEOC completed the offering of $1,500.0 million aggregate principal amount of 9.0% senior secured notes due 2020. On March 27, 2013, when the proceeds were released from escrow, CEOC used $1,433.3 million of the proceeds to repay a portion of the existing term loans under the Credit Facilities at par. As a result of these repayments, we recognized a loss on early extinguishment of debt of $29.4 million during the first quarter of 2013. | |||||||||||||||||
Open Market Purchases | |||||||||||||||||
During the third quarter of 2013, we purchased $18.3 million of face value of CEOC 5.375% unsecured senior notes for $18.3 million. In connection with this transaction, we recorded a loss on early extinguishments of debt of $0.2 million, net of discounts. The notes were repurchased by a non-CEOC subsidiary of Caesars Entertainment and are still outstanding for purposes of CEOC. | |||||||||||||||||
CMBS Financing and Open Market Purchases | |||||||||||||||||
As previously disclosed, in October 2013 we completed the Caesars Entertainment Resort Properties refinancing and used the net proceeds of the offering of notes and borrowings under term loans, together with cash on hand at the time, to retire 100% of the principal amount of loans under the mortgage and mezzanine loan agreements entered into by certain subsidiaries of the CMBS properties, repay in full all amounts outstanding under the senior secured credit facility entered into by Caesars and Caesars Linq, LLC and Caesars Octavius, LLC, each an indirect subsidiary of Caesars, and to pay related fees and expenses. See Note 21, "Subsequent Events." | |||||||||||||||||
In February 2013, we paid an extension fee of $23.3 million and exercised the option to extend the maturity of the CMBS Financing to 2014. As part of the extension, we entered into a new interest rate cap agreement. See Note 9, "Derivative Instruments." | |||||||||||||||||
In June 2013, we purchased $225.0 million of face value of CMBS debt for $183.7 million, recognizing a pre-tax gain of $39.0 million, net of deferred finance charges. | |||||||||||||||||
In August 2013, we purchased $49.8 million of aggregate face value of CMBS debt for $36.0 million, recognizing a pre-tax gain of $13.4 million, net of discount and deferred finance charges. | |||||||||||||||||
Horseshoe Baltimore Financing | |||||||||||||||||
On July 2, 2013, CBAC Borrower, LLC (“CBAC”), a joint venture among Caesars Baltimore Investment Company, LLC (a wholly owned indirect subsidiary of CEOC), Rock Gaming Mothership LLC, CVPR Gaming Holdings, LLC, STRON-MD Limited Partnership and PRT Two, LLC, entered into a credit agreement (the “Baltimore Credit Facility”) in order to finance the acquisition of land in Baltimore, Maryland and the construction of the Horseshoe Baltimore and a garage (collectively, the “Baltimore Development”). | |||||||||||||||||
The Baltimore Credit Facility provides for (i) a $300.0 million senior secured term facility with a seven-year maturity, which is comprised of a $225.0 million facility that was funded upon the closing of the Baltimore Credit Facility, a $37.5 million delayed draw facility available from the closing of the Baltimore Credit Facility until the 12-month anniversary of the closing and a $37.5 million delayed draw facility available until the 18-month anniversary of the closing and (ii) a $10.0 million senior secured revolving facility with a five-year maturity. The Baltimore Credit Facility is secured by substantially all material assets of CBAC and its wholly owned domestic subsidiaries. | |||||||||||||||||
Concurrently with the closing of the Baltimore Credit Facility, CBAC also entered into a term loan facility that provides for up to $30.0 million of equipment financing (the “Baltimore FF&E Facility”). Under the Baltimore FF&E Facility, CBAC may use funds from the facility to finance or reimburse the purchase price and certain related costs of furniture, furnishings and equipment to be used in the Baltimore Development. | |||||||||||||||||
Restrictive Covenants and Other Matters | |||||||||||||||||
Certain of our borrowings have covenants and requirements that include, among other things, the maintenance of specific levels of financial ratios. Failure to comply with these covenants can result in limiting our long-term growth prospects by hindering our ability to incur future indebtedness or grow through acquisitions, or cause an event of default. Specifically, the Credit Facilities require CEOC to maintain a senior secured leverage ratio of no more than 4.75 to 1.0, which is the ratio of senior first priority secured debt to last twelve months ("LTM") Adjusted EBITDA - Pro Forma - CEOC Restricted. After giving effect to the February 2013 bank amendment to the Credit Facilities discussed above, this ratio excludes $3,700.0 million of first priority senior secured notes and up to $350.0 million aggregate principal amount of consolidated debt of subsidiaries that are not wholly owned. For purposes of calculating the senior secured leverage ratio, the amount of senior first priority secured debt is reduced by the amount of unrestricted cash on hand. As of September 30, 2013, CEOC's senior secured leverage ratio was 4.36 to 1.0. | |||||||||||||||||
In addition, certain covenants contained in CEOC's senior secured credit facilities and indentures covering its first priority senior secured notes and second priority senior secured notes restrict our ability to take certain actions such as incurring additional debt or making acquisitions if we are unable to meet a fixed charge coverage ratio (LTM Adjusted EBITDA - Pro Forma - CEOC Restricted to fixed charges) of at least 2.0 to 1.0, a total first priority secured leverage ratio (first priority senior secured debt to LTM Adjusted EBITDA - Pro Forma - CEOC Restricted) of no more than 4.5 to 1.0, and/or a consolidated leverage ratio (consolidated total debt to LTM Adjusted EBITDA - Pro Forma - CEOC Restricted) of no more than 7.25 to 1.0. As of September 30, 2013, CEOC's total first priority secured leverage ratio and consolidated leverage ratio were 7.30 to 1.0 and 13.44 to 1.0, respectively. For the twelve months ended September 30, 2013, CEOC's LTM Adjusted EBITDA - Pro Forma - CEOC Restricted was insufficient to cover fixed charges by $641.9 million. For purposes of calculating the fixed charge coverage ratio, fixed charges includes consolidated interest expense less interest income and any cash dividends paid on preferred stock (other than amounts eliminated in consolidation). For purposes of calculating the total first priority secured leverage ratio and the consolidated leverage ratio, the amounts of first priority senior secured debt and consolidated total debt, respectively, are reduced by the amount of unrestricted cash on hand. The covenants that provide for the fixed charge coverage ratio, total first priority secured leverage ratio, and consolidated leverage ratio described in this paragraph are not maintenance covenants. |
Derivative_Instruments
Derivative Instruments | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||
Derivative Instruments | ' | ||||||||||||||||||
Derivative Instruments | |||||||||||||||||||
Derivative Instruments – Interest Rate Swap Agreements | |||||||||||||||||||
We use interest rate swaps to manage the mix of our debt between fixed and variable rate instruments. As of September 30, 2013, we have entered into eight interest rate swap agreements for notional amounts totaling $5,750.0 million. The difference to be paid or received under the terms of the interest rate swap agreements is accrued as interest rates change and recognized as an adjustment to interest expense for the related debt. Changes in the variable interest rates to be paid or received pursuant to the terms of the interest rate swap agreements will have a corresponding effect on future cash flows. | |||||||||||||||||||
The major terms of the interest rate swap agreements as of September 30, 2013 are as follows: | |||||||||||||||||||
Effective Date | Notional Amount | Fixed Rate | Variable Rate Received | Next Reset Date | Maturity Date | ||||||||||||||
(In millions) | Paid | ||||||||||||||||||
April 25, 2011 | $ | 250 | 1.351 | % | 0.179 | % | 25-Oct-13 | 25-Jan-15 | |||||||||||
25-Apr-11 | 250 | 1.347 | % | 0.179 | % | 25-Oct-13 | 25-Jan-15 | ||||||||||||
25-Apr-11 | 250 | 1.35 | % | 0.179 | % | 25-Oct-13 | 25-Jan-15 | ||||||||||||
25-Jan-11 | 1,000.00 | 3.068 | % | 0.179 | % | 25-Oct-13 | 25-Jan-15 | ||||||||||||
25-Apr-11 | 1,000.00 | 3.15 | % | 0.179 | % | 25-Oct-13 | 25-Jan-15 | ||||||||||||
25-Jan-11 | 1,000.00 | 3.75 | % | 0.179 | % | 25-Oct-13 | 25-Jan-15 | ||||||||||||
25-Apr-11 | 1,000.00 | 3.264 | % | 0.179 | % | 25-Oct-13 | 25-Jan-15 | ||||||||||||
25-Jan-11 | 1,000.00 | 3.814 | % | 0.179 | % | 25-Oct-13 | 25-Jan-15 | ||||||||||||
The variable rate on our interest rate swap agreements did not materially change as a result of the October 25, 2013 reset. | |||||||||||||||||||
Derivative Instruments – Interest Rate Cap Agreements | |||||||||||||||||||
In February 2013, in conjunction with exercising the option to extend the maturity of the CMBS Financing to 2014, we entered into a new interest rate cap agreement. The interest rate cap agreement, which is effective from February 13, 2013 and terminates February 13, 2015, is for a notional amount of $4,664.1 million at a LIBOR cap rate of 4.5%. Any future changes in fair value of the interest rate cap will be recognized in interest expense during the period in which the changes in value occur. | |||||||||||||||||||
Derivative Instruments – Other | |||||||||||||||||||
During the second quarter of 2012, the Company entered into a written put option (the “Option”) for certain preferred equity interests in Sterling Suffolk Racecourse, LLC ("Sterling Suffolk"), owner of Suffolk Downs racecourse in East Boston, Massachusetts. The potential future aggregate cash payments of $5.5 million as of September 30, 2013 related to the Option may occur from time to time. Based on the structure of this security as a written put option, the obligation for these potential cash payments is not reflected in our Consolidated Condensed Balance Sheets. Additionally, the Option is recorded in our Consolidated Condensed Balance Sheets at its fair value, which was de minimis as of September 30, 2013. See Note 21,"Subsequent Events." | |||||||||||||||||||
Derivative Instruments – Impact on Consolidated Condensed Financial Statements | |||||||||||||||||||
None of our derivative instruments are offset, and the fair values of assets and liabilities are recognized in the Consolidated Condensed Balance Sheets. The following table represents the fair values of derivative instruments in the Consolidated Condensed Balance Sheets as of September 30, 2013 and December 31, 2012: | |||||||||||||||||||
(In millions) | Asset Derivatives | Liability Derivatives | |||||||||||||||||
Fair Value | Fair Value | ||||||||||||||||||
Derivatives instruments | Balance | September 30, 2013 | December 31, 2012 | 30-Sep-13 | 31-Dec-12 | ||||||||||||||
Sheet | |||||||||||||||||||
Location | |||||||||||||||||||
Interest rate swaps | Deferred credits and other | $ | — | $ | — | $ | (203.0 | ) | $ | (306.4 | ) | ||||||||
Interest rate caps | Deferred charges and other | * | * | — | — | ||||||||||||||
Total | $ | — | $ | — | $ | (203.0 | ) | $ | (306.4 | ) | |||||||||
___________________ | |||||||||||||||||||
* | Amount rounds to zero. | ||||||||||||||||||
The following table represents the effect of the designated interest rate contracts in the Consolidated Condensed Statements of Operations: | |||||||||||||||||||
(In millions) | Quarter Ended | Nine Months Ended | |||||||||||||||||
September 30, | September 30, | ||||||||||||||||||
Derivatives designated as hedging instruments | Location of (Gain) or Loss Recognized in Net Loss | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
Amount of (gain) or loss reclassified from AOCL into net loss (effective portion) | Interest expense | $ | — | $ | 6.9 | $ | 3.9 | $ | 21.2 | ||||||||||
The following table represents the effect of the non-designated interest rate contracts in the Consolidated Condensed Statements of Operations: | |||||||||||||||||||
(In millions) | Quarter Ended | Nine Months Ended | |||||||||||||||||
September 30, | September 30, | ||||||||||||||||||
Derivatives not designated as hedging instruments | Location of (Gain) or Loss Recognized in Net Loss | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
Unrealized (gains)/losses | Interest expense | $ | (34.1 | ) | $ | (6.2 | ) | $ | (100.6 | ) | $ | 10.9 | |||||||
Derivative settlements | Interest expense | 43.4 | 42.6 | 128.3 | 126.6 | ||||||||||||||
Total | $ | 9.3 | $ | 36.4 | $ | 27.7 | $ | 137.5 | |||||||||||
The derivative settlements under the terms of the interest rate swap agreements are recognized as interest expense and are paid monthly. | |||||||||||||||||||
At September 30, 2013, our variable-rate debt, excluding $5,750.0 million of variable-rate debt hedged using interest rate swap agreements, represents 19% of our total debt, while our fixed-rate debt is 81% of our total debt. |
Stockholders_Equity_Noncontrol
Stockholders' Equity, Noncontrolling Interests and Variable Interest Entities (Notes) | 9 Months Ended |
Sep. 30, 2013 | |
Equity [Abstract] | ' |
Stockholders' Equity, Noncontrolling Interests and Variable Interest Entities | ' |
Stockholders' Equity, Noncontrolling Interests and Variable Interest Entities | |
Common Stock | |
In March 2012, the Company filed a prospectus with the SEC, as part of a registration statement, to sell shares of common stock, up to a maximum aggregate offering price of $500.0 million. In April 2012, the Company entered into an equity distribution agreement with Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC whereby the Company may issue and sell up to 10.0 million shares of the Company's common stock from time to time. During the three and nine months ended September 30, 2013, the Company issued 155,000 and 1,055,493 shares, respectively, with aggregate offering proceeds of $2.8 million and $15.4 million, respectively. During the three and nine months ended September 30, 2012, the Company issued 15,000 shares for aggregate offering proceeds of $0.2 million. As of September 30, 2013, a total of 1,070,493 shares had been issued for total proceeds of $15.6 million. | |
Pursuant to an underwriting agreement entered into on September 25, 2013, Caesars issued 10.3 million shares of its common stock at a price of $19.40 per share to the underwriter. The transaction closed on October 1, 2013. See Note 21, "Subsequent Events." | |
Noncontrolling Interests | |
CBAC Gaming, LLC, the Company-led consortium developing Horseshoe Casino Baltimore, received additional capital contributions from minority shareholders of $35.3 million in the nine months ended September 30, 2013. The investment increased the Company's noncontrolling interest equity for partner contributions to the development of the project, net of pre-opening losses of $6.3 million also allocated to noncontrolling interest equity. | |
Financing for the project was obtained and the development broke ground in July 2013. See Note 8, "Debt." |
Reclassifications_out_of_Accum
Reclassifications out of Accumulated Other Comprehensive Loss | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Equity [Abstract] | ' | |||||||||||||||||||||||
Reclassifications out of Accumulated Other Comprehensive Loss | ' | |||||||||||||||||||||||
Reclassifications out of Accumulated Other Comprehensive Loss | ||||||||||||||||||||||||
Reclassifications out of AOCL for the three and nine months ended September 30, 2013 include the following: | ||||||||||||||||||||||||
Quarter Ended September 30, 2013 | Nine Months Ended September 30, 2013 | |||||||||||||||||||||||
(In millions) | Defined Benefit Plan Adjustments | Foreign Currency Translation Adjustments | Losses on Derivative Instruments | Defined Benefit Plan Adjustments | Foreign Currency Translation Adjustments | Losses on Derivative Instruments | ||||||||||||||||||
Amount reclassified from AOCL to interest expense, net of capitalized interest | $ | 0.2 | $ | — | $ | — | $ | 0.6 | $ | — | $ | 3.9 | ||||||||||||
Amount reclassified from AOCL to write-downs, reserves, and project opening costs, net of recoveries | — | — | — | — | (4.1 | ) | — | |||||||||||||||||
Amount reclassified from AOCL to loss/(income) from discontinued operations | — | — | — | — | (2.2 | ) | — | |||||||||||||||||
Related tax impact | (0.1 | ) | — | — | (0.2 | ) | — | (1.4 | ) | |||||||||||||||
Reclassification, net of income taxes | $ | 0.1 | $ | — | $ | — | $ | 0.4 | $ | (6.3 | ) | $ | 2.5 | |||||||||||
Reclassifications out of AOCL for the three and nine months ended September 30, 2012 include the following: | ||||||||||||||||||||||||
Quarter Ended September 30, 2012 | Nine Months Ended September 30, 2012 | |||||||||||||||||||||||
(In millions) | Losses on Derivative Instruments | Losses on Derivative Instruments | ||||||||||||||||||||||
Amount reclassified from AOCL to interest expense, net of capitalized interest | $ | 6.9 | $ | 21.2 | ||||||||||||||||||||
Related tax impact | (2.5 | ) | (7.7 | ) | ||||||||||||||||||||
Reclassification, net of income taxes | $ | 4.4 | $ | 13.5 | ||||||||||||||||||||
Casino_Promotional_Allowances
Casino Promotional Allowances | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Promotional Allowance [Abstract] | ' | |||||||||||||||
Casino Promotional Allowances | ' | |||||||||||||||
Casino Promotional Allowances | ||||||||||||||||
The retail value of accommodations, food and beverage, and other services furnished to guests without charge is included in gross revenues and then deducted as casino promotional allowances. | ||||||||||||||||
The estimated retail value of such casino promotional allowances is included in operating revenues as follows: | ||||||||||||||||
Quarter Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||
Food and Beverage | $ | 157 | $ | 166.8 | $ | 469.9 | $ | 497.3 | ||||||||
Rooms | 119.8 | 127.7 | 343 | 366 | ||||||||||||
Other | 23.8 | 28.1 | 68.8 | 74.1 | ||||||||||||
$ | 300.6 | $ | 322.6 | $ | 881.7 | $ | 937.4 | |||||||||
The estimated cost of providing such casino promotional allowances is included in casino expenses as follows: | ||||||||||||||||
Quarter Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||
Food and Beverage | $ | 115 | $ | 119.7 | $ | 339.4 | $ | 362.3 | ||||||||
Rooms | 44.6 | 48.2 | 132 | 140.2 | ||||||||||||
Other | 13.7 | 15 | 34.8 | 38.3 | ||||||||||||
$ | 173.3 | $ | 182.9 | $ | 506.2 | $ | 540.8 | |||||||||
Loss_Per_Share
Loss Per Share | 9 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Loss Per Share | ' | |||||||||||
Loss Per Share | ||||||||||||
Basic loss per share from continuing operations and discontinued operations is calculated by dividing loss from continuing operations and loss from discontinued operations, respectively, net of income taxes, by the weighted-average number of common shares outstanding for each period. Because the Company generated net losses for the three and nine months ended September 30, 2013 and 2012, the weighted-average basic shares outstanding was used in calculating diluted loss per share from continuing operations, and diluted loss per share from discontinued operations, as using diluted shares would be anti-dilutive to loss per share. | ||||||||||||
The following table shows the number of shares which were excluded from the computation of diluted loss per share as they were anti-dilutive: | ||||||||||||
Quarter Ended September 30, | Nine Months Ended September 30, | |||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | ||||||||
Stock options | 4.9 | 8.1 | 4 | 7.4 | ||||||||
Warrants | 0.4 | 0.4 | 0.4 | 0.4 | ||||||||
Total anti-dilutive potential common shares | 5.3 | 8.5 | 4.4 | 7.8 | ||||||||
Writedowns_Reserves_and_Projec
Write-downs, Reserves, and Project Opening Costs, net of Recoveries | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Disclosure Writedowns Reserves And Project Opening Costs Net Of Recoveries Components Of Write Downs Reserves And Project Opening Costs Net Of Recoveries [Abstract] | ' | |||||||||||||||
Write-downs, Reserves, and Project Opening Costs, net of Recoveries | ' | |||||||||||||||
Write-downs, Reserves, and Project Opening Costs, net of Recoveries | ||||||||||||||||
Write-downs, reserves, and project opening costs, net of recoveries include project opening costs and various pre-tax charges to record contingent liability reserves, costs associated with efficiency projects, project write-offs, demolition costs, and other non-routine transactions, net of recoveries of previously recorded non-routine reserves. | ||||||||||||||||
The components of write-downs, reserves, and project opening costs, net of recoveries are as follows: | ||||||||||||||||
Quarter Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||
Remediation costs | $ | 5.4 | $ | 6.4 | $ | 24.4 | $ | 12.4 | ||||||||
Divestitures and abandonments | 2.4 | 28.1 | 16.3 | 36.2 | ||||||||||||
Project opening costs | 7 | 2.8 | 11.6 | 4.7 | ||||||||||||
Other | (14.3 | ) | (4.5 | ) | (7.6 | ) | 3.6 | |||||||||
Total write-downs, reserves, and project opening costs, net of recoveries | $ | 0.5 | $ | 32.8 | $ | 44.7 | $ | 56.9 | ||||||||
Remediation costs primarily relate to projects at certain of our Las Vegas properties. | ||||||||||||||||
Divestitures and abandonments include losses on divested or abandoned assets, demolition costs and costs associated with various projects that are determined to no longer be viable. Costs incurred in the three and nine months ended September 30, 2013 primarily relate to a previously halted development project and land lease obligations in Biloxi, Mississippi. | ||||||||||||||||
Project opening costs represents costs associated exclusively with opening a new property or project. | ||||||||||||||||
Other includes contingent liability reserves, recoveries, a gain related to Thistledown Racetrack, LLC in the third quarter of 2012, cash received in a settlement related to a timeshare development agreement in the third quarter of 2013 and other non-routine, non-operating amounts. |
Income_Taxes
Income Taxes | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||||||
Income Taxes | ' | |||||||||||||||
Income Taxes | ||||||||||||||||
Total income taxes were allocated as follows: | ||||||||||||||||
Quarter Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||
Income tax benefit on loss before income taxes | $ | (413.4 | ) | $ | (225.3 | ) | $ | (819.3 | ) | $ | (489.5 | ) | ||||
Income tax provision on discontinued | 3.1 | 1.6 | 0.2 | 4.6 | ||||||||||||
operations | ||||||||||||||||
Accumulated other comprehensive loss | (0.9 | ) | (4.1 | ) | (2.1 | ) | (8.7 | ) | ||||||||
Additional paid-in capital | — | 2.1 | — | 2.1 | ||||||||||||
We classify reserves for tax uncertainties within accrued expenses and deferred credits and other in our Consolidated Condensed Balance Sheets, separate from any related income tax payable or deferred income taxes. Reserve amounts relate to any potential income tax liabilities resulting from uncertain tax positions and potential interest or penalties associated with those liabilities. | ||||||||||||||||
The effective tax rate for the three months ended September 30, 2013 and 2012 was 34.8% and 31.0%, respectively. The increase in the effective tax rate is primarily due to the tax effects of larger nondeductible goodwill impairments in 2012. | ||||||||||||||||
The effective tax rate for the nine months ended September 30, 2013 and 2012 was 41.4% and 34.0%, respectively. The effective rate benefit was higher for the first nine months of 2013 primarily due to (i) a discrete tax benefit from a capital loss resulting from a tax election made for U.S. federal income tax purposes during the first quarter of 2013 which was retroactive to December 2012 and (ii) the tax effects of larger nondeductible goodwill impairments in 2012. | ||||||||||||||||
We file income tax returns, including returns for our subsidiaries, with federal, state, and foreign jurisdictions. We are under regular and recurring audit by the Internal Revenue Service on open tax positions, and it is possible that the amount of the liability for unrecognized tax benefits could change during the next twelve months. |
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||
Fair Value Measurements | ' | |||||||||||||||||||
Fair Value Measurements | ||||||||||||||||||||
Items Measured at Fair Value on a Recurring Basis | ||||||||||||||||||||
The following table shows the fair value of our financial assets and financial liabilities that are required to be measured at fair value as of September 30, 2013 and December 31, 2012: | ||||||||||||||||||||
(In millions) | Balance | Level 1 | Level 2 | Level 3 | ||||||||||||||||
September 30, 2013 | ||||||||||||||||||||
Assets: | ||||||||||||||||||||
Investments | $ | 99.6 | $ | 99.6 | $ | — | $ | — | ||||||||||||
Derivative instruments | * | — | * | — | ||||||||||||||||
Liabilities: | ||||||||||||||||||||
Derivative instruments | (203.0 | ) | — | (203.0 | ) | — | ||||||||||||||
December 31, 2012 | ||||||||||||||||||||
Assets: | ||||||||||||||||||||
Investments | $ | 114.2 | $ | 114.2 | $ | — | $ | — | ||||||||||||
Derivative instruments | * | — | * | — | ||||||||||||||||
Liabilities: | ||||||||||||||||||||
Derivative instruments | (306.4 | ) | — | (306.4 | ) | — | ||||||||||||||
___________________ | ||||||||||||||||||||
* | Amount rounds to zero | |||||||||||||||||||
The following section describes the valuation methodologies used to estimate or measure fair value, key inputs, and significant assumptions: | ||||||||||||||||||||
Investments | ||||||||||||||||||||
Investments consist of equity and debt securities with maturity dates greater than 90 days at the date of the security's acquisition. These securities are traded in active markets, have readily determined market values, and use Level 1 inputs. Securities for which there are not active markets or the market values are not readily determinable are valued using Level 2 inputs. These investments are included in either prepayments and other current assets or deferred charges and other in our Consolidated Condensed Balance Sheets. | ||||||||||||||||||||
The fair value of investments in marketable securities were as follows: | ||||||||||||||||||||
(In millions) | September 30, 2013 | December 31, 2012 | ||||||||||||||||||
Equity securities | $ | 18.9 | $ | 2.8 | ||||||||||||||||
Government bonds | 80.7 | 111.4 | ||||||||||||||||||
Total investments | $ | 99.6 | $ | 114.2 | ||||||||||||||||
Gross unrealized gains and losses on marketable securities at September 30, 2013 and December 31, 2012 were not material. | ||||||||||||||||||||
Derivative instruments | ||||||||||||||||||||
The estimated fair values of our derivative instruments are derived from market prices obtained from dealer quotes for similar, but not identical, assets or liabilities. Such quotes represent the estimated amounts we would receive or pay to terminate the contracts. Our derivatives are recorded at their fair values, adjusted for the credit rating of the counterparty if the derivative is an asset, or adjusted for the credit rating of the Company if the derivative is a liability. See Note 9, "Derivative Instruments." | ||||||||||||||||||||
Items Measured at Fair Value on a Non-recurring Basis | ||||||||||||||||||||
The following table shows the fair value of our assets and liabilities that are required to be measured at fair value as of September 30, 2013 and the total adjustments recorded on these items during the nine months ended September 30, 2013: | ||||||||||||||||||||
(In millions) | Balance | Level 1 | Level 2 | Level 3 | Total Adjustments | |||||||||||||||
Loss/(Gain) | ||||||||||||||||||||
Intangible and tangible assets | $ | 2,651.20 | $ | — | $ | — | $ | 2,651.20 | $ | 954 | ||||||||||
Net assets held for sale | 445.3 | — | — | 445.3 | 27.5 | |||||||||||||||
Contingent earnout liability | 57 | — | — | 57 | 48.9 | |||||||||||||||
Market and income approaches were used to value the intangible and tangible assets and net assets held for sale in accordance with the provisions of FASB Codification Topic 350, Intangibles -- Goodwill and Other, and Topic 360, Property, Plant, and Equipment, as appropriate. Inputs included an expected range of market values, probability assessments made by management that each outcome could be achieved, expected cash flows, recent comparable transactions, discounted cash flows, discount rate, royalty rate, growth rate, and tax rate. The fair value of our contingent liability is estimated based upon probability-weighted outcomes using the best information available including cash flow projections. | ||||||||||||||||||||
Net assets held for sale are the net assets of the subsidiaries that hold our land concession in Macau and the Marketplace Parcels in Atlantic City. The contingent earnout liability relates to CIE acquisitions. See Note 3, "Acquisitions, Investments, Dispositions and Divestitures." | ||||||||||||||||||||
Items Disclosed at Fair Value | ||||||||||||||||||||
Long-term debt | ||||||||||||||||||||
The fair value of the Company’s debt has been calculated based on the borrowing rates available as of September 30, 2013, for debt with similar terms and maturities, and based on market quotes of our publicly traded debt. As of September 30, 2013, the Company’s outstanding debt had an estimated fair value of $20,438.1 million and had a carrying value of $21,340.2 million. |
Litigation_Contractual_Commitm
Litigation, Contractual Commitments and Contingent Liabilities | 9 Months Ended |
Sep. 30, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Litigation, Contractual Commitments and Contingent Liabilities | ' |
Litigation, Contractual Commitments and Contingent Liabilities | |
Litigation | |
The Company is party to ordinary and routine litigation incidental to our business. We do not expect the outcome of any pending litigation to have a material effect on our consolidated financial position, results of operations, or cash flows. | |
Contractual Commitments | |
At September 30, 2013, our estimated interest payments for the rest of the year ended December 31, 2013 are $502.1 million, for the years ended December 31, 2014 through 2017 are $2,027.9 million, $1,702.3 million, $1,557.6 million, and $1,297.5 million, respectively, and our estimated interest payments thereafter are $1,443.2 million. See Note 8, "Debt." | |
In July 2013, the Company terminated its lease with a third party in order to retake possession of the larger performance theater space in Planet Hollywood known as “PH Live at Planet Hollywood.” In connection with that transaction, the Company is refurbishing the PH Live at Planet Hollywood theatre and entered into a two-year performance agreement with Britney Spears pursuant to which Ms. Spears has agreed to perform a total of 96 shows at the refurbished PH Live at Planet Hollywood theatre. The performance agreement with Ms. Spears contains customary representations, warranties, covenants and agreements and exclusivity and non-compete provisions for similar transactions. Aggregate commitments under the lease termination agreement, amounts committed to refurbishing the theatre and commitments under the performance agreement aggregate approximately $64 million through December 31, 2015. | |
As of September 30, 2013, there have been no other material changes outside of the ordinary course of business to our other known contractual obligations, which are set forth in the table included in Item 7 in our 2012 10-K. | |
Contingent Liabilities | |
In December 1998, Hilton Hotels Corporation ("Hilton") spun-off its gaming operations as Park Place Entertainment Corporation ("Park Place"). In connection with the spin-off, Hilton and Park Place entered into various agreements, including an Employee Benefits and Other Employment Allocation Agreement dated December 31, 1998 (the "Allocation Agreement") whereby Park Place assumed or retained, as applicable, certain liabilities and excess assets, if any, related to the Hilton Hotels Retirement Plan (the "Hilton Plan") based on the accrued benefits of Hilton employees and Park Place employees. Park Place changed its name to Caesars Entertainment, Inc., and the Company acquired Caesars Entertainment, Inc. in June 2005. In 1999 and 2005, the United States District Court for the District of Columbia (the "Court") certified two nationwide classes in the lawsuit against Hilton and others alleging that the Hilton Plan's benefit formula was backloaded in violation of ERISA, and that Hilton and the other defendants failed to properly calculate Hilton Plan participants' service for vesting purposes. In May 2009, the Court issued a decision granting summary judgment to the plaintiffs. Thereafter, the Court required the parties to attempt to agree on a remedies determination and further required the parties to submit briefs to the Court in support of their positions. On September 7, 2010, the Court issued an opinion resolving certain of Hilton's and the plaintiffs' issues regarding a remedies determination and requiring the parties to confer and take other actions in an effort to resolve the remaining issues. On July 28 and 29, 2011, the Court held a hearing to address the remaining remedy issues and on August 31, 2011, the Court issued a Memorandum Opinion and a final Order (the “Order”). In the Order, the Court ordered, among other things, Hilton to award back payments and commence increased benefits for all class members no later than January 1, 2012 or, in the case of any individual benefit or vesting disputes, within 30 days after the final dispute resolution by the Court. On September 28, 2011, Hilton filed a Motion for Reconsideration to ask the Court to reconsider certain aspects of the Order. On October 5, 2011, Hilton filed a Notice of Appeal to appeal all aspects of the Order and all other orders in the case to the United States Court of Appeals for the District of Columbia Circuit (the "Circuit Court") and on December 22, 2011, plaintiffs filed a cross-appeal. On November 28, 2011, Hilton filed a motion to stay the implementation of the backloading remedy pending the appeal and on January 19, 2012, the Court granted Hilton's motion contingent upon Hilton posting a bond of $75.8 million by no later than February 21, 2012. On December 14, 2012, the Circuit Court affirmed the decisions of the Court. At various times prior to the Court’s 2010 opinion, we were advised by counsel for the defendants that the plaintiffs estimated that the damages were in the range of $80.0 million to $280.0 million. Counsel for the defendants further advised that approximately $50.0 million of the damages relates to questions regarding the proper size of the class and the amount, if any, of damages to any additional class members due to issues with Hilton’s record keeping. | |
The Company received a letter from Hilton dated October 7, 2009 notifying the Company for the first time of this lawsuit and alleging that the Company has potential liability for the above described claims under the terms of the Allocation Agreement. Based on the terms of the Allocation Agreement, the Company believes its maximum potential exposure is approximately 30 percent to 33 percent of the amount ultimately awarded as damages. The Company is not a party to the proceedings between the plaintiffs and the defendants and has not participated in the defense of the litigation or in any discussions between the plaintiffs and the defendants about potential remedies or damages. Further, the Company does not have access to information sufficient to enable the Company to make an independent judgment about the possible range of loss in connection with this matter. Based on conversations between our representative of the Company and a representative of the defendants, the Company believes it is probable that damages will be at least $80.0 million and, accordingly, the Company recorded a charge of $25.0 million in accordance with FASB Codification Topic 450, Contingencies, during the second quarter 2010 in relation to this matter. The Company has not changed its belief respecting the damages which may be awarded in this lawsuit as a result of the 2010 opinion of the Court, the Order, or the Circuit Court's rulings. The Company also continues to believe that it may have various defenses if a claim under the Allocation Agreement is asserted against the Company, including defenses as to the amount of damages. Because the Company has not had access to sufficient information regarding this matter, we cannot at this time predict the ultimate outcome of this matter or the possible additional loss, if any. |
Supplemental_Cash_Flow_Informa
Supplemental Cash Flow Information | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Supplemental Cash Flow Information [Abstract] | ' | |||||||
Supplemental Cash Flow Information | ' | |||||||
Supplemental Cash Flow Information | ||||||||
Significant Non-cash Transactions | ||||||||
Significant non-cash transactions during the nine months ended September 30, 2013 include $37.0 million of assets acquired through financing activities. | ||||||||
Significant non-cash transactions during the nine months ended September 30, 2012 include a contribution of 1.8 million shares by certain indirect stockholders and $31.2 million of assets acquired through capital leases. | ||||||||
Cash Paid for Interest and Taxes | ||||||||
The following table reconciles our interest expense, net of capitalized interest, per the Consolidated Condensed Statements of Operations, to cash paid for interest: | ||||||||
Nine Months Ended September 30, | ||||||||
(In millions) | 2013 | 2012 | ||||||
Interest expense, net of interest capitalized | $ | 1,677.70 | $ | 1,574.30 | ||||
Adjustments to reconcile to cash paid for interest: | ||||||||
Net change in accruals | (142.4 | ) | (138.7 | ) | ||||
Amortization of deferred finance charges | (41.6 | ) | (66.5 | ) | ||||
Net amortization of discounts and premiums | (231.4 | ) | (166.2 | ) | ||||
Amortization of accumulated other comprehensive loss | (4.5 | ) | (21.2 | ) | ||||
Rollover of PIK interest to principal | (1.2 | ) | (1.0 | ) | ||||
Change in fair value of derivative instruments | 100.6 | (10.9 | ) | |||||
Cash paid for interest | $ | 1,357.20 | $ | 1,169.80 | ||||
Cash payments for income taxes, net | $ | 25.2 | $ | 9.1 | ||||
StockBased_Compensation
Stock-Based Compensation | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||
Stock-Based Compensation | ' | |||||||||||||||
Stock-Based Compensation | ||||||||||||||||
Our stock-based compensation expense consists primarily of time-based and performance-based options of Caesars Entertainment and one of its subsidiaries that have been granted to management, other personnel and key service providers. The Company has recognized compensation expense associated with its stock-based compensation programs as follows: | ||||||||||||||||
Quarter Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||
Amounts included in: | ||||||||||||||||
Corporate expense | $ | 5.2 | $ | 6.3 | $ | 8.5 | $ | 20.5 | ||||||||
Property, general, administrative, and other | 3.3 | 3.5 | 9.7 | 22.5 | ||||||||||||
Total stock-based compensation expense | $ | 8.5 | $ | 9.8 | $ | 18.2 | $ | 43 | ||||||||
During the three months ended September 30, 2013 and 2012, the Company recorded $2.5 million and $2.0 million, respectively, of expense related to stock-based awards of its subsidiaries, of which $2.1 million and $1.8 million, respectively, related to liability-classified awards that are re-measured to fair value at each reporting date, and $0.4 million and $0.2 million, respectively, related to equity-classified awards that are measured at their fair value at the date of grant. | ||||||||||||||||
During the nine months ended September 30, 2013 and 2012, the Company recorded $6.4 million and $18.2 million, respectively, of expense related to stock-based awards of its subsidiaries, of which $4.4 million and $17.3 million, respectively, related to liability-classified awards that are re-measured to fair value at each reporting date, and $2.0 million and $0.9 million, respectively, related to equity-classified awards that are measured at their fair value at the date of grant. | ||||||||||||||||
The following is a summary of share-based option activity, including options under the Company's 2008 incentive plan and the Company's 2012 incentive plan and warrants to purchase common stock, for the nine months ended September 30, 2013: | ||||||||||||||||
Shares | Weighted Average | |||||||||||||||
Exercise Price | ||||||||||||||||
Outstanding at December 31, 2012 | 8,478,148 | $ | 12.22 | |||||||||||||
Granted | 550,812 | $ | 13.65 | |||||||||||||
Exercised | (127,660 | ) | $ | 8.39 | ||||||||||||
Canceled | (345,107 | ) | $ | 12.05 | ||||||||||||
Outstanding at September 30, 2013 | 8,556,193 | $ | 12.38 | |||||||||||||
Vested and expected to vest at September 30, 2013 | 6,753,926 | $ | 12.44 | |||||||||||||
Exercisable at September 30, 2013 | 2,301,361 | $ | 15.58 | |||||||||||||
Award Issuances | ||||||||||||||||
On June 28, 2013, the Company granted 1.6 million restricted stock units (the "RSUs") to employees of the Company with an aggregate grant date fair value of approximately $21.3 million. Each RSU represents the right to receive payment in respect of one share of the Company's common stock. The majority of the RSUs will vest 25% annually beginning January 2, 2014. |
Related_Party_Transactions
Related Party Transactions | 9 Months Ended |
Sep. 30, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions | ' |
Related Party Transactions | |
In connection with the Acquisition, the Sponsors entered into a services agreement with Caesars Entertainment relating to the provision of financial and strategic advisory services and consulting services. In addition, we pay a monitoring fee for management services and advice. Fees paid to the Sponsors, which are included in corporate expense in our Consolidated Condensed Statements of Operations, were $7.5 million for each of the three months ended September 30, 2013 and 2012 and $22.5 million for each of the nine months ended September 30, 2013 and 2012. We also reimburse the Sponsors for expenses that they incur related to their management services. We may engage in transactions with companies owned or controlled by affiliates of our Sponsors in the normal course of business. We believe such transactions are conducted at fair value. In addition, certain entities affiliated with or under the control of our Sponsors may from time to time transact in and hold our debt securities, and participate in any modifications of such instruments on terms available to any other holder of our debt. |
Subsequent_Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
Subsequent Events | |
Common Stock Issuance | |
On September 25, 2013, Caesars entered into an underwriting agreement for the sale of 10.0 million shares of its common stock, par value $0.01 per share. The underwriter agreed to purchase the common stock from Caesars at a price of $19.40 per share, which resulted in $194.0 million of proceeds to Caesars before expenses. On September 27, 2013, the underwriter exercised its option to purchase 340,418 additional shares of common stock, resulting in an approximately $6.6 million of additional proceeds to Caesars before expenses. These transactions closed on October 1, 2013, and resulted in approximately $200.6 million of proceeds to Caesars before expenses. | |
Closing of Caesars Acquisition Company / Caesars Growth Partners Transactions | |
On October 21, 2013, Caesars distributed to its stockholders as of the October 17, 2013 record date subscription rights to purchase common stock of CAC in connection with a rights offering. | |
In addition, on that date, CAC, Growth Partners and Caesars and its subsidiaries consummated the transaction. Affiliates of Apollo and TPG exercised their basic subscription rights in full to purchase $457.8 million worth of CAC’s Class A common stock at a price of $8.64 per whole share. CAC used such proceeds to acquire all of the voting units of Growth Partners. In connection with this transaction, CAC and Growth Partners entered into agreements with CEOC and its subsidiaries to provide certain corporate services and back-office support and business advisory services to CAC, Growth Partners and their subsidiaries. | |
In connection with this transaction, Caesars contributed all of the shares of CIE's outstanding common stock held by a subsidiary of Caesars and approximately $1.1 billion in aggregate principal amount of senior notes previously issued by CEOC that are owned by another subsidiary of Caesars in exchange for non-voting units of Growth Partners. Additionally, Growth Partners used $360.0 million of proceeds received from CAC to purchase Planet Hollywood Resort & Casino in Las Vegas, Caesars’ joint venture interests in a casino under development in Baltimore ("Horseshoe Baltimore") and a 50% interest in the management fee revenues for both of those properties. A subsidiary of Growth Partners assumed the $513.2 million of outstanding secured term loan related to Planet Hollywood in connection with the purchase. | |
Caesars, through its subsidiaries, owns approximately 79% of the economic interests of Growth Partners at the time of the October 21, 2013 closing. | |
On October 29, 2013, the Company announced that each of Apollo and TPG intend to exercise over-subscription privileges for up to approximately $71.1 million, for a total of approximately $142.2 million worth of additional CAC Class A common stock. | |
Refinancing of CMBS and Linq/Octavius | |
On October 11, 2013, Caesars Entertainment Resort Properties, LLC, Caesars Entertainment Resort Properties Finance, Inc., Harrah’s Atlantic City Holding, Inc., Harrah’s Las Vegas, LLC, Harrah’s Laughlin, LLC, Flamingo Las Vegas Holding, LLC, Paris Las Vegas Holding, LLC and Rio Properties, LLC, each a wholly owned subsidiary of Caesars, (i) completed the offering of $1,000 million aggregate principal amount of their 8% first-priority senior secured notes due 2020 and $1,150 million aggregate principal amount of their 11% second-priority senior secured notes due 2021 (together with the 8% first-priority senior secured notes due 2020, the “Notes”) and (ii) entered into a first lien credit agreement governing their new $2,769.5 million senior secured credit facilities, consisting of senior secured term loans in an aggregate principal amount of $2,500.0 million (the “Term Loans”) and a senior secured revolving credit facility in an aggregate principal amount of up to $269.5 million. We refer to this new borrowing structure as Caesars Entertainment Resort Properties ("CERP"). | |
The net proceeds from the offering of Notes and the borrowings under the Term Loans, together with cash on hand at the time, was used to retire 100% of the principal amount of loans under the mortgage and mezzanine loan agreements entered into by certain subsidiaries of the CMBS properties, repay in full all amounts outstanding under the senior secured credit facility entered into by Caesars and Caesars Linq, LLC and Caesars Octavius, LLC, each an indirect subsidiary of Caesars, and to pay related fees and expenses. | |
Recent Developments at Suffolk Downs Joint Venture | |
Caesars holds a minority equity ownership, including both common and preferred stock interests, in Sterling Suffolk. In addition, we have a $60.0 million intangible asset representing the right to manage a potential future gaming facility. Sterling Suffolk recently made a bid for a casino license at its facility. On October 18, 2013, Caesars received a report issued to the Massachusetts Gaming Commission from the Director of the Investigations and Enforcement Bureau for the Massachusetts Gaming Commission which raised certain issues for consideration when evaluating our suitability as a qualifier in Massachusetts. As a result, Caesars has withdrawn its application as a qualifier in Massachusetts for the benefit of Sterling Suffolk. While it is too early to determine the resolution regarding the Company’s investment in this project, the approximate cash investment is $100 million as of September 30, 2013. | |
Claridge Hotel Tower Sale | |
In October 2013, the Company entered into an agreement to sell its 500-room Claridge Hotel Tower in Atlantic City. | |
Macau Land Concession | |
On November 1, 2013, the Company completed the sale of all of the equity interests of the subsidiaries that hold the Macau Land Concession to Pearl Dynasty for a total sales price of $438.0 million. The total sales price is inclusive of $65.7 million of deposits received by the Company during the third quarter of 2013. Net proceeds from the sale, after commissions and customary closing costs, amounted to approximately $420 million. |
Condensed_Consolidating_Financ
Condensed Consolidating Financial Information of Guarantors and Issuers | 9 Months Ended | |||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | |||||||||||||||||||||||||||
Condensed Consolidating Financial Information of Guarantors and Issuers | ' | |||||||||||||||||||||||||||
Condensed Consolidating Financial Information of Guarantors and Issuers | ||||||||||||||||||||||||||||
CEOC is the issuer of certain registered debt securities, a portion of which is guaranteed by Caesars Entertainment ("Parent-Only Guaranteed Debt") and a portion of which is guaranteed by both Caesars Entertainment and certain wholly owned subsidiaries of CEOC ("Parent and Subsidiary Guaranteed Debt"). The table below presents the condensed consolidating financial information relevant to these two guarantee structures as of September 30, 2013, and December 31, 2012, and for the three and nine months ended September 30, 2013 and 2012. The CEC (parent guarantor), subsidiary issuer, and subsidiary non-guarantors of parent-only guaranteed debt columns represent the information related to the Parent-Only Guaranteed Debt structure. The CEC (parent guarantor), subsidiary issuer, subsidiary guarantors of parent and subsidiary guaranteed debt, and subsidiary non-guarantors of parent and subsidiary guaranteed debt columns represent the information related to the Parent and Subsidiary Guaranteed Debt structure. | ||||||||||||||||||||||||||||
In lieu of providing separate unaudited financial statements for the guarantor subsidiaries, we have included the accompanying condensed consolidating financial statements based on Rule 3-10 of the SEC's Regulation S-X. Management does not believe that separate financial statements of the guarantor subsidiaries are material to our investors; therefore, separate financial statements and other disclosures concerning the guarantor subsidiaries are not presented. | ||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET | ||||||||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||
CEC | Subsidiary | Subsidiary Guarantors of Parent and Subsidiary Guaranteed Debt (a) | Subsidiary Non-Guarantors of Parent and Subsidiary Guaranteed Debt (b) | Subsidiary Non-Guarantors of Parent-Only Guaranteed Debt (a) + (b) | Consolidating/ | Total | ||||||||||||||||||||||
(Parent Guarantor) | Issuer | Eliminating | ||||||||||||||||||||||||||
Adjustments | ||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||
Current assets | ||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 222.9 | $ | 671.5 | $ | 268.9 | $ | 544.6 | $ | 813.5 | $ | — | $ | 1,707.90 | ||||||||||||||
Restricted cash | 30.5 | — | 1 | 91.9 | 92.9 | — | 123.4 | |||||||||||||||||||||
Receivables, net of allowance for doubtful accounts | — | 22.6 | 308.1 | 176.2 | 484.3 | — | 506.9 | |||||||||||||||||||||
Deferred income taxes | — | 52.4 | 68.6 | 19.7 | 88.3 | — | 140.7 | |||||||||||||||||||||
Prepayments and other current assets | 1.1 | 13.4 | 77.1 | 105 | 182.1 | — | 196.6 | |||||||||||||||||||||
Inventories | — | 0.3 | 27.5 | 15.5 | 43 | — | 43.3 | |||||||||||||||||||||
Intercompany receivables | 19.9 | 291.6 | 164.3 | 93.5 | 257.8 | (569.3 | ) | — | ||||||||||||||||||||
Assets held for sale | — | — | — | 5.4 | 5.4 | — | 5.4 | |||||||||||||||||||||
Total current assets | 274.4 | 1,051.80 | 915.5 | 1,051.80 | 1,967.30 | (569.3 | ) | 2,724.20 | ||||||||||||||||||||
Property and equipment, net | — | 187.3 | 7,797.20 | 6,935.40 | 14,732.60 | (3.5 | ) | 14,916.40 | ||||||||||||||||||||
Goodwill | — | — | 1,231.20 | 1,788.30 | 3,019.50 | — | 3,019.50 | |||||||||||||||||||||
Intangible assets other than goodwill | — | 3.7 | 2,914.50 | 742 | 3,656.50 | — | 3,660.20 | |||||||||||||||||||||
Investments in subsidiaries | — | 10,443.20 | 897.4 | 953.9 | 1,851.30 | (12,294.5 | ) | — | ||||||||||||||||||||
Investments in and advances to non-consolidated affiliates | — | — | 3.4 | 209.7 | 213.1 | — | 213.1 | |||||||||||||||||||||
Restricted cash | — | — | — | 403.6 | 403.6 | — | 403.6 | |||||||||||||||||||||
Deferred charges and other | 7.6 | 301.6 | 202.9 | 186.6 | 389.5 | (5.3 | ) | 693.4 | ||||||||||||||||||||
Intercompany receivables | 325.1 | 1,088.50 | 585.4 | 55 | 640.4 | (2,054.0 | ) | — | ||||||||||||||||||||
Assets held for sale | — | — | 7.3 | 458.7 | 466 | — | 466 | |||||||||||||||||||||
$ | 607.1 | $ | 13,076.10 | $ | 14,554.80 | $ | 12,785.00 | $ | 27,339.80 | $ | (14,926.6 | ) | $ | 26,096.40 | ||||||||||||||
Liabilities and Stockholders’ (Deficit)/Equity | ||||||||||||||||||||||||||||
Current liabilities | ||||||||||||||||||||||||||||
Accounts payable | $ | 1.4 | $ | 102.1 | $ | 133.6 | $ | 134.7 | $ | 268.3 | $ | — | $ | 371.8 | ||||||||||||||
Interest payable | — | 357.3 | 0.7 | 19.7 | 20.4 | — | 377.7 | |||||||||||||||||||||
Accrued expenses | 8 | 239.6 | 385.2 | 548.1 | 933.3 | — | 1,180.90 | |||||||||||||||||||||
Current portion of long-term debt | — | 184.8 | 16.4 | 9 | 25.4 | (43.8 | ) | 166.4 | ||||||||||||||||||||
Intercompany payables | 1.8 | 47.5 | 331.7 | 188.3 | 520 | (569.3 | ) | — | ||||||||||||||||||||
Liabilities held for sale | — | — | — | 0.7 | 0.7 | — | 0.7 | |||||||||||||||||||||
Total current liabilities | 11.2 | 931.3 | 867.6 | 900.5 | 1,768.10 | (613.1 | ) | 2,097.50 | ||||||||||||||||||||
Long-term debt | — | 15,989.40 | 78.5 | 6,079.90 | 6,158.40 | (974.0 | ) | 21,173.80 | ||||||||||||||||||||
Accumulated losses of subsidiaries in excess of investment | 2,082.60 | — | — | — | — | (2,082.6 | ) | — | ||||||||||||||||||||
Deferred credits and other | — | 439 | 148.1 | 152.2 | 300.3 | — | 739.3 | |||||||||||||||||||||
Deferred income taxes | — | (188.1 | ) | 2,049.30 | 1,703.00 | 3,752.30 | (35.9 | ) | 3,528.30 | |||||||||||||||||||
Intercompany payables | 55 | 285.4 | 871.2 | 842.5 | 1,713.70 | (2,054.1 | ) | — | ||||||||||||||||||||
Liabilities held for sale | — | — | — | 54.3 | 54.3 | — | 54.3 | |||||||||||||||||||||
2,148.80 | 17,457.00 | 4,014.70 | 9,732.40 | 13,747.10 | (5,759.7 | ) | 27,593.20 | |||||||||||||||||||||
Total Caesars stockholders’ (deficit)/equity | (1,541.7 | ) | (4,380.9 | ) | 10,540.10 | 2,970.70 | 13,510.80 | (9,166.9 | ) | (1,578.7 | ) | |||||||||||||||||
Noncontrolling interests | — | — | — | 81.9 | 81.9 | — | 81.9 | |||||||||||||||||||||
Total (deficit)/equity | (1,541.7 | ) | (4,380.9 | ) | 10,540.10 | 3,052.60 | 13,592.70 | (9,166.9 | ) | (1,496.8 | ) | |||||||||||||||||
$ | 607.1 | $ | 13,076.10 | $ | 14,554.80 | $ | 12,785.00 | $ | 27,339.80 | $ | (14,926.6 | ) | $ | 26,096.40 | ||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET | ||||||||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||
CEC | Subsidiary | Subsidiary Guarantors of Parent and Subsidiary Guaranteed Debt (a) | Subsidiary Non-Guarantors of Parent and Subsidiary Guaranteed Debt (b) | Subsidiary Non-Guarantors of Parent-Only Guaranteed Debt (a) + (b) | Consolidating/ | Total | ||||||||||||||||||||||
(Parent Guarantor) | Issuer | Eliminating | ||||||||||||||||||||||||||
Adjustments | ||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||
Current assets | ||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 7.4 | $ | 911.9 | $ | 353.8 | $ | 484.4 | $ | 838.2 | $ | — | $ | 1,757.50 | ||||||||||||||
Restricted cash | — | — | — | 833.6 | 833.6 | — | 833.6 | |||||||||||||||||||||
Receivables, less allowance for doubtful accounts | 0.1 | 19.5 | 348 | 212.9 | 560.9 | — | 580.5 | |||||||||||||||||||||
Deferred income taxes | — | 17.4 | 75.7 | 21.8 | 97.5 | — | 114.9 | |||||||||||||||||||||
Prepayments and other current assets | 5 | 8.3 | 66.8 | 69.9 | 136.7 | — | 150 | |||||||||||||||||||||
Inventories | — | 0.3 | 31.7 | 20 | 51.7 | — | 52 | |||||||||||||||||||||
Intercompany receivables | 29.6 | 295.5 | 136.8 | 97.2 | 234 | (559.1 | ) | — | ||||||||||||||||||||
Assets held for sale | — | — | — | 5.1 | 5.1 | — | 5.1 | |||||||||||||||||||||
Total current assets | 42.1 | 1,252.90 | 1,012.80 | 1,744.90 | 2,757.70 | (559.1 | ) | 3,493.60 | ||||||||||||||||||||
Property and equipment, net | — | 189.9 | 8,534.60 | 6,977.20 | 15,511.80 | — | 15,701.70 | |||||||||||||||||||||
Goodwill | — | — | 1,331.00 | 1,829.30 | 3,160.30 | — | 3,160.30 | |||||||||||||||||||||
Intangible assets other than goodwill | — | 4.2 | 3,183.00 | 798.5 | 3,981.50 | — | 3,985.70 | |||||||||||||||||||||
Investments in subsidiaries | — | 11,669.60 | 920.3 | 790.7 | 1,711.00 | (13,380.6 | ) | — | ||||||||||||||||||||
Investments in and advances to non-consolidated affiliates | — | — | 3 | 97.4 | 100.4 | — | 100.4 | |||||||||||||||||||||
Restricted cash | — | — | — | 364.6 | 364.6 | — | 364.6 | |||||||||||||||||||||
Deferred charges and other | 7.5 | 298.4 | 184.8 | 236.6 | 421.4 | (6.7 | ) | 720.6 | ||||||||||||||||||||
Intercompany receivables | 563.1 | 1,089.60 | 585.9 | 153.8 | 739.7 | (2,392.4 | ) | — | ||||||||||||||||||||
Assets held for sale | — | — | — | 471.2 | 471.2 | — | 471.2 | |||||||||||||||||||||
$ | 612.7 | $ | 14,504.60 | $ | 15,755.40 | $ | 13,464.20 | $ | 29,219.60 | $ | (16,338.8 | ) | $ | 27,998.10 | ||||||||||||||
Liabilities and Stockholders’ (Deficit)/Equity | ||||||||||||||||||||||||||||
Current liabilities | ||||||||||||||||||||||||||||
Accounts payable | $ | 3.9 | $ | 75.9 | $ | 156.5 | $ | 139.9 | $ | 296.4 | $ | — | $ | 376.2 | ||||||||||||||
Interest payable | — | 176 | 0.4 | 57.3 | 57.7 | — | 233.7 | |||||||||||||||||||||
Accrued expenses | 3.7 | 164.7 | 434.7 | 491.6 | 926.3 | — | 1,094.70 | |||||||||||||||||||||
Current portion of long-term debt | — | 126.2 | 10.7 | 743 | 753.7 | — | 879.9 | |||||||||||||||||||||
Intercompany payables | 15.9 | 88.1 | 284.8 | 170.3 | 455.1 | (559.1 | ) | — | ||||||||||||||||||||
Liabilities held for sale | — | — | — | 3.8 | 3.8 | — | 3.8 | |||||||||||||||||||||
Total current liabilities | 23.5 | 630.9 | 887.1 | 1,605.90 | 2,493.00 | (559.1 | ) | 2,588.30 | ||||||||||||||||||||
Long-term debt | — | 15,257.00 | 64.8 | 6,122.90 | 6,187.70 | (912.5 | ) | 20,532.20 | ||||||||||||||||||||
Accumulated losses of subsidiaries in excess of investment | 925.4 | — | — | — | — | (925.4 | ) | — | ||||||||||||||||||||
Deferred credits and other | 4.1 | 535 | 160.2 | 123.7 | 283.9 | — | 823 | |||||||||||||||||||||
Deferred income taxes | — | 422.6 | 2,188.90 | 1,714.70 | 3,903.60 | 7.9 | 4,334.10 | |||||||||||||||||||||
Intercompany payables | 55 | 614.5 | 871.7 | 851.2 | 1,722.90 | (2,392.4 | ) | — | ||||||||||||||||||||
Liabilities held for sale | — | — | — | 52.1 | 52.1 | — | 52.1 | |||||||||||||||||||||
1,008.00 | 17,460.00 | 4,172.70 | 10,470.50 | 14,643.20 | (4,781.5 | ) | 28,329.70 | |||||||||||||||||||||
Total Caesars stockholders’ (deficit)/equity | (395.3 | ) | (2,955.4 | ) | 11,582.70 | 2,913.60 | 14,496.30 | (11,557.3 | ) | (411.7 | ) | |||||||||||||||||
Noncontrolling interests | — | — | — | 80.1 | 80.1 | — | 80.1 | |||||||||||||||||||||
Total (deficit)/equity | (395.3 | ) | (2,955.4 | ) | 11,582.70 | 2,993.70 | 14,576.40 | (11,557.3 | ) | (331.6 | ) | |||||||||||||||||
$ | 612.7 | $ | 14,504.60 | $ | 15,755.40 | $ | 13,464.20 | $ | 29,219.60 | $ | (16,338.8 | ) | $ | 27,998.10 | ||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE (LOSS)/INCOME | ||||||||||||||||||||||||||||
FOR THE QUARTER ENDED SEPTEMBER 30, 2013 | ||||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||
CEC | Subsidiary | Subsidiary Guarantors of Parent and Subsidiary Guaranteed Debt (a) | Subsidiary Non-Guarantors of Parent and Subsidiary Guaranteed Debt (b) | Subsidiary Non-Guarantors of Parent-Only Guaranteed Debt (a) + (b) | Consolidating/ | Total | ||||||||||||||||||||||
(Parent Guarantor) | Issuer | Eliminating | ||||||||||||||||||||||||||
Adjustments | ||||||||||||||||||||||||||||
Revenues | ||||||||||||||||||||||||||||
Casino | $ | — | $ | 16.4 | $ | 942.7 | $ | 507.5 | $ | 1,450.20 | $ | — | $ | 1,466.60 | ||||||||||||||
Food and beverage | — | 3.7 | 211.5 | 167.7 | 379.2 | — | 382.9 | |||||||||||||||||||||
Rooms | — | 5 | 165 | 148.5 | 313.5 | — | 318.5 | |||||||||||||||||||||
Management fees | — | 0.3 | 12.5 | 6 | 18.5 | (4.3 | ) | 14.5 | ||||||||||||||||||||
Other | — | 15.9 | 87.3 | 172 | 259.3 | (49.8 | ) | 225.4 | ||||||||||||||||||||
Reimbursable management costs | — | — | 9 | 63.7 | 72.7 | — | 72.7 | |||||||||||||||||||||
Less: casino promotional allowances | — | (5.3 | ) | (182.0 | ) | (113.3 | ) | (295.3 | ) | — | (300.6 | ) | ||||||||||||||||
Net revenues | — | 36 | 1,246.00 | 952.1 | 2,198.10 | (54.1 | ) | 2,180.00 | ||||||||||||||||||||
Operating expenses | ||||||||||||||||||||||||||||
Direct | ||||||||||||||||||||||||||||
Casino | — | 10.1 | 516 | 277.1 | 793.1 | — | 803.2 | |||||||||||||||||||||
Food and beverage | — | 1.6 | 88 | 79.2 | 167.2 | — | 168.8 | |||||||||||||||||||||
Rooms | — | 0.7 | 36.3 | 39.9 | 76.2 | — | 76.9 | |||||||||||||||||||||
Property, general, administrative, and other | — | 11.1 | 309.4 | 272.4 | 581.8 | (44.7 | ) | 548.2 | ||||||||||||||||||||
Reimbursable management costs | — | — | 9 | 63.7 | 72.7 | — | 72.7 | |||||||||||||||||||||
Depreciation and amortization | — | 0.9 | 79.3 | 50 | 129.3 | — | 130.2 | |||||||||||||||||||||
Write-downs, reserves, and project opening costs, net of recoveries | — | 0.1 | 4.4 | (4.0 | ) | 0.4 | — | 0.5 | ||||||||||||||||||||
Intangible and tangible asset impairment charges | — | — | 889.9 | 41 | 930.9 | — | 930.9 | |||||||||||||||||||||
(Income)/loss on interests in non-consolidated affiliates | — | — | (0.1 | ) | 4.1 | 4 | — | 4 | ||||||||||||||||||||
Loss/(income) on interests in subsidiaries | 750.4 | 489.2 | 30.1 | — | 30.1 | (1,269.7 | ) | — | ||||||||||||||||||||
Corporate expense | 6.8 | 18.9 | 8.6 | 12.1 | 20.7 | (9.4 | ) | 37 | ||||||||||||||||||||
Acquisition and integration costs | — | 3.5 | (0.2 | ) | (0.1 | ) | (0.3 | ) | — | 3.2 | ||||||||||||||||||
Amortization of intangible assets | — | 0.2 | 22 | 19.7 | 41.7 | — | 41.9 | |||||||||||||||||||||
Total operating expenses | 757.2 | 536.3 | 1,992.70 | 855.1 | 2,847.80 | (1,323.8 | ) | 2,817.50 | ||||||||||||||||||||
(Loss)/income from operations | (757.2 | ) | (500.3 | ) | (746.7 | ) | 97 | (649.7 | ) | 1,269.70 | (637.5 | ) | ||||||||||||||||
Interest expense, net of interest capitalized | (0.6 | ) | (527.9 | ) | (14.5 | ) | (78.6 | ) | (93.1 | ) | 58.6 | (563.0 | ) | |||||||||||||||
Gain on early extinguishments of debt | — | — | — | 13 | 13 | — | 13 | |||||||||||||||||||||
Other income, including interest income | 3.8 | 19.3 | 5.2 | 43.6 | 48.8 | (71.4 | ) | 0.5 | ||||||||||||||||||||
(Loss)/income from continuing operations before income taxes | (754.0 | ) | (1,008.9 | ) | (756.0 | ) | 75 | (681.0 | ) | 1,256.90 | (1,187.0 | ) | ||||||||||||||||
(Provision)/benefit for income taxes | 1.3 | 186.7 | 257 | (36.1 | ) | 220.9 | 4.5 | 413.4 | ||||||||||||||||||||
Net (loss)/income from continuing operations, net of taxes | (752.7 | ) | (822.2 | ) | (499.0 | ) | 38.9 | (460.1 | ) | 1,261.40 | (773.6 | ) | ||||||||||||||||
Discontinued operations | ||||||||||||||||||||||||||||
Loss from discontinued operations | — | — | — | 14.9 | 14.9 | — | 14.9 | |||||||||||||||||||||
Benefit for income taxes | — | — | (0.1 | ) | (3.0 | ) | (3.1 | ) | — | (3.1 | ) | |||||||||||||||||
Loss from discontinued operations, net of income taxes | — | — | (0.1 | ) | 11.9 | 11.8 | — | 11.8 | ||||||||||||||||||||
Net (loss)/income | (752.7 | ) | (822.2 | ) | (499.1 | ) | 50.8 | (448.3 | ) | 1,261.40 | (761.8 | ) | ||||||||||||||||
Less: net income attributable to noncontrolling interests | — | — | — | 0.4 | 0.4 | — | 0.4 | |||||||||||||||||||||
Net (loss)/income attributable to Caesars | (752.7 | ) | (822.2 | ) | (499.1 | ) | 51.2 | (447.9 | ) | 1,261.40 | (761.4 | ) | ||||||||||||||||
Other comprehensive (loss)/income: | ||||||||||||||||||||||||||||
Total other comprehensive (loss)/income, net of income taxes | — | 18.8 | — | (5.8 | ) | (5.8 | ) | (14.9 | ) | (1.9 | ) | |||||||||||||||||
Less: foreign currency translation adjustments attributable to noncontrolling interests, net of income taxes | — | — | — | — | — | — | — | |||||||||||||||||||||
Comprehensive (loss)/income attributable to Caesars | $ | (752.7 | ) | $ | (803.4 | ) | $ | (499.1 | ) | $ | 45.4 | $ | (453.7 | ) | $ | 1,246.50 | $ | (763.3 | ) | |||||||||
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE (LOSS)/INCOME | ||||||||||||||||||||||||||||
FOR THE QUARTER ENDED SEPTEMBER 30, 2012 | ||||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||
CEC | Subsidiary | Subsidiary Guarantors of Parent and Subsidiary Guaranteed Debt (a) | Subsidiary Non-Guarantors of Parent and Subsidiary Guaranteed Debt (b) | Subsidiary Non-Guarantors of Parent-Only Guaranteed Debt (a) + (b) | Consolidating/ | Total | ||||||||||||||||||||||
(Parent Guarantor) | Issuer | Eliminating | ||||||||||||||||||||||||||
Adjustments | ||||||||||||||||||||||||||||
Revenues | ||||||||||||||||||||||||||||
Casino | $ | — | $ | 16.1 | $ | 981.8 | $ | 580.9 | $ | 1,562.70 | $ | — | $ | 1,578.80 | ||||||||||||||
Food and beverage | — | 3.6 | 211.2 | 174.4 | 385.6 | — | 389.2 | |||||||||||||||||||||
Rooms | — | 5.7 | 164.8 | 141.6 | 306.4 | — | 312.1 | |||||||||||||||||||||
Management fees | — | — | 12.4 | 4.8 | 17.2 | (4.7 | ) | 12.5 | ||||||||||||||||||||
Other | — | 9.8 | 92.2 | 142.3 | 234.5 | (40.8 | ) | 203.5 | ||||||||||||||||||||
Reimbursable management costs | — | — | 7.8 | 14.5 | 22.3 | — | 22.3 | |||||||||||||||||||||
Less: casino promotional allowances | — | (5.8 | ) | (195.2 | ) | (121.6 | ) | (316.8 | ) | — | (322.6 | ) | ||||||||||||||||
Net revenues | — | 29.4 | 1,275.00 | 936.9 | 2,211.90 | (45.5 | ) | 2,195.80 | ||||||||||||||||||||
Operating expenses | ||||||||||||||||||||||||||||
Direct | ||||||||||||||||||||||||||||
Casino | — | 10.1 | 560.6 | 331.5 | 892.1 | — | 902.2 | |||||||||||||||||||||
Food and beverage | — | 1.5 | 85.6 | 82.7 | 168.3 | — | 169.8 | |||||||||||||||||||||
Rooms | — | 0.5 | 35 | 38.8 | 73.8 | — | 74.3 | |||||||||||||||||||||
Property, general, administrative, and other | — | — | 290 | 266.7 | 556.7 | (37.7 | ) | 519 | ||||||||||||||||||||
Reimbursable management costs | — | — | 7.8 | 14.5 | 22.3 | — | 22.3 | |||||||||||||||||||||
Depreciation and amortization | — | 1.7 | 112.4 | 64.7 | 177.1 | — | 178.8 | |||||||||||||||||||||
Write-downs, reserves, and project opening costs, net of recoveries | — | 0.9 | 32.5 | (0.6 | ) | 31.9 | — | 32.8 | ||||||||||||||||||||
Intangible and tangible asset impairment charges | — | — | 416 | 3 | 419 | — | 419 | |||||||||||||||||||||
Loss on interests in non-consolidated affiliates | — | — | (0.2 | ) | (1.3 | ) | (1.5 | ) | — | (1.5 | ) | |||||||||||||||||
Loss/(income) on interests in subsidiaries | 503.9 | 224 | (4.1 | ) | — | (4.1 | ) | (723.8 | ) | — | ||||||||||||||||||
Corporate expense | 6.4 | 34.9 | 8.1 | 10.1 | 18.2 | (7.8 | ) | 51.7 | ||||||||||||||||||||
Acquisition and integration costs | — | 0.2 | — | 0.8 | 0.8 | — | 1 | |||||||||||||||||||||
Amortization of intangible assets | — | 0.2 | 26.3 | 16.7 | 43 | — | 43.2 | |||||||||||||||||||||
Total operating expenses | 510.3 | 274 | 1,570.00 | 827.6 | 2,397.60 | (769.3 | ) | 2,412.60 | ||||||||||||||||||||
(Loss)/income from operations | (510.3 | ) | (244.6 | ) | (295.0 | ) | 109.3 | (185.7 | ) | 723.8 | (216.8 | ) | ||||||||||||||||
Interest expense, net of interest capitalized | (0.4 | ) | (482.0 | ) | (7.2 | ) | (76.9 | ) | (84.1 | ) | 50.7 | (515.8 | ) | |||||||||||||||
Other income, including interest income | 4.3 | 10.7 | 5.3 | 35.1 | 40.4 | (50.7 | ) | 4.7 | ||||||||||||||||||||
(Loss)/income from continuing operations before income taxes | (506.4 | ) | (715.9 | ) | (296.9 | ) | 67.5 | (229.4 | ) | 723.8 | (727.9 | ) | ||||||||||||||||
Benefit/(provision) for income taxes | 0.9 | 171 | 57.5 | (5.1 | ) | 52.4 | 1 | 225.3 | ||||||||||||||||||||
(Loss)/income from continuing operations, net of income taxes | (505.5 | ) | (544.9 | ) | (239.4 | ) | 62.4 | (177.0 | ) | 724.8 | (502.6 | ) | ||||||||||||||||
Discontinued operations | ||||||||||||||||||||||||||||
Income/(loss) from discontinued operations | — | — | 4.6 | (3.8 | ) | 0.8 | — | 0.8 | ||||||||||||||||||||
(Provision)/benefit for income taxes | — | — | (0.8 | ) | 0.2 | (0.6 | ) | (1.0 | ) | (1.6 | ) | |||||||||||||||||
Income/(loss) from discontinued operations, net of income taxes | — | — | 3.8 | (3.6 | ) | 0.2 | (1.0 | ) | (0.8 | ) | ||||||||||||||||||
Net (loss)/income | (505.5 | ) | (544.9 | ) | (235.6 | ) | 58.8 | (176.8 | ) | 723.8 | (503.4 | ) | ||||||||||||||||
Less: net income attributable to noncontrolling interests | — | — | — | (2.1 | ) | (2.1 | ) | — | (2.1 | ) | ||||||||||||||||||
Net (loss)/income attributable to Caesars | (505.5 | ) | (544.9 | ) | (235.6 | ) | 56.7 | (178.9 | ) | 723.8 | (505.5 | ) | ||||||||||||||||
Other comprehensive income/(loss): | ||||||||||||||||||||||||||||
Total other comprehensive income/(loss), net of income taxes | — | 6.8 | — | (8.3 | ) | (8.3 | ) | — | (1.5 | ) | ||||||||||||||||||
Less: foreign currency translation adjustments attributable to noncontrolling interests, net of income taxes | — | — | — | 0.2 | 0.2 | — | 0.2 | |||||||||||||||||||||
Comprehensive (loss)/income attributable to Caesars | $ | (505.5 | ) | $ | (538.1 | ) | $ | (235.6 | ) | $ | 48.6 | $ | (187.0 | ) | $ | 723.8 | $ | (506.8 | ) | |||||||||
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME/(LOSS) | ||||||||||||||||||||||||||||
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2013 | ||||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||
CEC | Subsidiary | Subsidiary Guarantors of Parent and Subsidiary Guaranteed Debt (a) | Subsidiary Non-Guarantors of Parent and Subsidiary Guaranteed Debt (b) | Subsidiary Non-Guarantors of Parent-Only Guaranteed Debt (a) + (b) | Consolidating/ | Total | ||||||||||||||||||||||
(Parent Guarantor) | Issuer | Eliminating | ||||||||||||||||||||||||||
Adjustments | ||||||||||||||||||||||||||||
Revenues | ||||||||||||||||||||||||||||
Casino | $ | — | $ | 44.9 | $ | 2,723.10 | $ | 1,628.80 | $ | 4,351.90 | $ | — | $ | 4,396.80 | ||||||||||||||
Food and beverage | — | 10 | 624.3 | 514.9 | 1,139.20 | — | 1,149.20 | |||||||||||||||||||||
Rooms | — | 13 | 478.5 | 437.5 | 916 | — | 929 | |||||||||||||||||||||
Management fees | — | 0.3 | 43.2 | 17.1 | 60.3 | (18.3 | ) | 42.3 | ||||||||||||||||||||
Other | — | 41.2 | 252.9 | 488.5 | 741.4 | (140.1 | ) | 642.5 | ||||||||||||||||||||
Reimbursable management costs | — | — | 25.3 | 177.9 | 203.2 | — | 203.2 | |||||||||||||||||||||
Less: casino promotional allowances | — | (13.7 | ) | (522.1 | ) | (345.9 | ) | (868.0 | ) | — | (881.7 | ) | ||||||||||||||||
Net revenues | — | 95.7 | 3,625.20 | 2,918.80 | 6,544.00 | (158.4 | ) | 6,481.30 | ||||||||||||||||||||
Operating expenses | ||||||||||||||||||||||||||||
Direct | ||||||||||||||||||||||||||||
Casino | — | 27.9 | 1,553.90 | 875.8 | 2,429.70 | — | 2,457.60 | |||||||||||||||||||||
Food and beverage | — | 4.3 | 260.7 | 238.5 | 499.2 | — | 503.5 | |||||||||||||||||||||
Rooms | — | 1.8 | 111.3 | 119.3 | 230.6 | — | 232.4 | |||||||||||||||||||||
Property, general, administrative, and other | — | 17 | 878.8 | 825.4 | 1,704.20 | (128.4 | ) | 1,592.80 | ||||||||||||||||||||
Reimbursable management costs | — | — | 25.3 | 177.9 | 203.2 | — | 203.2 | |||||||||||||||||||||
Depreciation and amortization | — | 2.9 | 266 | 164.4 | 430.4 | (0.1 | ) | 433.2 | ||||||||||||||||||||
Write-downs, reserves, and project opening costs, net of recoveries | — | 0.5 | 26 | 18.2 | 44.2 | — | 44.7 | |||||||||||||||||||||
Intangible and tangible asset impairment charges | — | — | 990.2 | 65.4 | 1,055.60 | — | 1,055.60 | |||||||||||||||||||||
Income on interests in non-consolidated affiliates | — | — | (0.5 | ) | 20.9 | 20.4 | — | 20.4 | ||||||||||||||||||||
Loss/(income) on interests in subsidiaries | 1,178.90 | 312.9 | 23.2 | — | 23.2 | (1,515.0 | ) | — | ||||||||||||||||||||
Corporate expense | 14.7 | 74.9 | 17.2 | 37.4 | 54.6 | (29.9 | ) | 114.3 | ||||||||||||||||||||
Acquisition and integration costs | — | 20 | 0.1 | 49.5 | 49.6 | — | 69.6 | |||||||||||||||||||||
Amortization of intangible assets | — | 0.5 | 66.3 | 57.6 | 123.9 | — | 124.4 | |||||||||||||||||||||
Total operating expenses | 1,193.60 | 462.7 | 4,218.50 | 2,650.30 | 6,868.80 | (1,673.4 | ) | 6,851.70 | ||||||||||||||||||||
(Loss)/income from operations | (1,193.6 | ) | (367.0 | ) | (593.3 | ) | 268.5 | (324.8 | ) | 1,515.00 | (370.4 | ) | ||||||||||||||||
Interest expense, net of interest capitalized | 2.9 | (1,542.6 | ) | (43.7 | ) | (265.0 | ) | (308.7 | ) | 170.7 | (1,677.7 | ) | ||||||||||||||||
Gains on early extinguishments of debt | — | (29.4 | ) | — | 46.9 | 46.9 | — | 17.5 | ||||||||||||||||||||
Gain on partial sale of subsidiary | — | — | (8.9 | ) | 53 | 44.1 | — | 44.1 | ||||||||||||||||||||
Other income, including interest income | 19.9 | 49.1 | 15.2 | 134.9 | 150.1 | (210.2 | ) | 8.9 | ||||||||||||||||||||
(Loss)/income from continuing operations before income taxes | (1,170.8 | ) | (1,889.9 | ) | (630.7 | ) | 238.3 | (392.4 | ) | 1,475.50 | (1,977.6 | ) | ||||||||||||||||
Benefit/(provision) for income taxes | — | 559.9 | 315.1 | (66.7 | ) | 248.4 | 11 | 819.3 | ||||||||||||||||||||
Net (loss)/income from continuing operations, net of taxes | (1,170.8 | ) | (1,330.0 | ) | (315.6 | ) | 171.6 | (144.0 | ) | 1,486.50 | (1,158.3 | ) | ||||||||||||||||
Discontinued operations | ||||||||||||||||||||||||||||
Income from discontinued operations | — | — | (0.8 | ) | (28.5 | ) | (29.3 | ) | — | (29.3 | ) | |||||||||||||||||
Provision for income taxes | — | — | 0.3 | (0.5 | ) | (0.2 | ) | — | (0.2 | ) | ||||||||||||||||||
Income from discontinued operations, net of income taxes | — | — | (0.5 | ) | (29.0 | ) | (29.5 | ) | — | (29.5 | ) | |||||||||||||||||
Net (loss)/income | (1,170.8 | ) | (1,330.0 | ) | (316.1 | ) | 142.6 | (173.5 | ) | 1,486.50 | (1,187.8 | ) | ||||||||||||||||
Less: net income attributable to noncontrolling interests | — | — | — | (3.5 | ) | (3.5 | ) | — | (3.5 | ) | ||||||||||||||||||
Net (loss)/income attributable to Caesars | (1,170.8 | ) | (1,330.0 | ) | (316.1 | ) | 139.1 | (177.0 | ) | 1,486.50 | (1,191.3 | ) | ||||||||||||||||
Other comprehensive (loss)/income: | ||||||||||||||||||||||||||||
Total other comprehensive (loss)/income, net of income taxes | — | 5.9 | — | (10.8 | ) | (10.8 | ) | (19.9 | ) | (24.8 | ) | |||||||||||||||||
Less: foreign currency translation adjustments attributable to noncontrolling interests, net of income taxes | — | — | — | 0.1 | 0.1 | — | 0.1 | |||||||||||||||||||||
Comprehensive (loss)/income attributable to Caesars | $ | (1,170.8 | ) | $ | (1,324.1 | ) | $ | (316.1 | ) | $ | 128.4 | $ | (187.7 | ) | $ | 1,466.60 | $ | (1,216.0 | ) | |||||||||
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE (LOSS)/INCOME | ||||||||||||||||||||||||||||
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2012 | ||||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||
CEC | Subsidiary | Subsidiary Guarantors of Parent and Subsidiary Guaranteed Debt (a) | Subsidiary Non-Guarantors of Parent and Subsidiary Guaranteed Debt (b) | Subsidiary Non-Guarantors of Parent-Only Guaranteed Debt (a) + (b) | Consolidating/ | Total | ||||||||||||||||||||||
(Parent Guarantor) | Issuer | Eliminating | ||||||||||||||||||||||||||
Adjustments | ||||||||||||||||||||||||||||
Revenues | ||||||||||||||||||||||||||||
Casino | $ | — | $ | 41.7 | $ | 2,948.60 | $ | 1,765.40 | $ | 4,714.00 | $ | — | $ | 4,755.70 | ||||||||||||||
Food and beverage | — | 9.6 | 624.5 | 522.5 | 1,147.00 | — | 1,156.60 | |||||||||||||||||||||
Rooms | — | 14.2 | 485.7 | 432.4 | 918.1 | — | 932.3 | |||||||||||||||||||||
Management fees | — | 2.2 | 42.4 | 7.8 | 50.2 | (18.0 | ) | 34.4 | ||||||||||||||||||||
Other | — | 30.1 | 270 | 406.3 | 676.3 | (125.9 | ) | 580.5 | ||||||||||||||||||||
Reimbursable management costs | — | — | 21 | 22.5 | 43.5 | — | 43.5 | |||||||||||||||||||||
Less: casino promotional allowances | — | (14.8 | ) | (559.4 | ) | (363.2 | ) | (922.6 | ) | — | (937.4 | ) | ||||||||||||||||
Net revenues | — | 83 | 3,832.80 | 2,793.70 | 6,626.50 | (143.9 | ) | 6,565.60 | ||||||||||||||||||||
Operating expenses | ||||||||||||||||||||||||||||
Direct | ||||||||||||||||||||||||||||
Casino | — | 28 | 1,692.40 | 1,004.70 | 2,697.10 | — | 2,725.10 | |||||||||||||||||||||
Food and beverage | — | 4.6 | 251.7 | 245 | 496.7 | — | 501.3 | |||||||||||||||||||||
Rooms | — | 1.3 | 109.1 | 119.7 | 228.8 | — | 230.1 | |||||||||||||||||||||
Property, general, administrative, and other | — | 12.2 | 851.6 | 784.7 | 1,636.30 | (119.0 | ) | 1,529.50 | ||||||||||||||||||||
Reimbursable management costs | — | — | 21 | 22.5 | 43.5 | — | 43.5 | |||||||||||||||||||||
Depreciation and amortization | — | 5.1 | 330.8 | 197.9 | 528.7 | — | 533.8 | |||||||||||||||||||||
Write-downs, reserves, and project opening costs, net of recoveries | — | 5.5 | 48.3 | 3.1 | 51.4 | — | 56.9 | |||||||||||||||||||||
Intangible and tangible asset impairment charges | — | — | 616.5 | 9.5 | 626 | — | 626 | |||||||||||||||||||||
Loss on interests in non-consolidated affiliates | — | — | 0.6 | 8.2 | 8.8 | — | 8.8 | |||||||||||||||||||||
Loss/(income) on interests in subsidiaries | 1,024.20 | 219 | 0.8 | — | 0.8 | (1,244.0 | ) | — | ||||||||||||||||||||
Corporate expense | 18.5 | 98.4 | 21.9 | 31.3 | 53.2 | (24.9 | ) | 145.2 | ||||||||||||||||||||
Acquisition and integration costs | — | 0.9 | — | 1.3 | 1.3 | — | 2.2 | |||||||||||||||||||||
Amortization of intangible assets | — | 0.5 | 75.9 | 53.2 | 129.1 | — | 129.6 | |||||||||||||||||||||
Total operating expenses | 1,042.70 | 375.5 | 4,020.60 | 2,481.10 | 6,501.70 | (1,387.9 | ) | 6,532.00 | ||||||||||||||||||||
(Loss)/income from operations | (1,042.7 | ) | (292.5 | ) | (187.8 | ) | 312.6 | 124.8 | 1,244.00 | 33.6 | ||||||||||||||||||
Interest expense, net of interest capitalized | (0.4 | ) | (1,452.9 | ) | (21.8 | ) | (248.7 | ) | (270.5 | ) | 149.5 | (1,574.3 | ) | |||||||||||||||
Gains on early extinguishments of debt | — | — | — | 79.5 | 79.5 | — | 79.5 | |||||||||||||||||||||
Other income, including interest income | 13.3 | 40 | 16.1 | 99.5 | 115.6 | (149.5 | ) | 19.4 | ||||||||||||||||||||
(Loss)/income from continuing operations before income taxes | (1,029.8 | ) | (1,705.4 | ) | (193.5 | ) | 242.9 | 49.4 | 1,244.00 | (1,441.8 | ) | |||||||||||||||||
Benefit/(provision) for income taxes | 2 | 525.1 | 18.2 | (65.5 | ) | (47.3 | ) | 9.7 | 489.5 | |||||||||||||||||||
(Loss)/income from continuing operations, net of income taxes | (1,027.8 | ) | (1,180.3 | ) | (175.3 | ) | 177.4 | 2.1 | 1,253.70 | (952.3 | ) | |||||||||||||||||
Discontinued operations | ||||||||||||||||||||||||||||
Income/(loss) from discontinued operations | — | — | 46.5 | (115.9 | ) | (69.4 | ) | — | (69.4 | ) | ||||||||||||||||||
(Provision)/benefit for income taxes | — | — | (8.3 | ) | 13.4 | 5.1 | (9.7 | ) | (4.6 | ) | ||||||||||||||||||
Income/(loss) from discontinued operations, net of income taxes | — | — | 38.2 | (102.5 | ) | (64.3 | ) | (9.7 | ) | (74.0 | ) | |||||||||||||||||
Net (loss)/income | (1,027.8 | ) | (1,180.3 | ) | (137.1 | ) | 74.9 | (62.2 | ) | 1,244.00 | (1,026.3 | ) | ||||||||||||||||
Less: net income attributable to noncontrolling interests | — | — | — | (1.5 | ) | (1.5 | ) | — | (1.5 | ) | ||||||||||||||||||
Net (loss)/income attributable to Caesars | (1,027.8 | ) | (1,180.3 | ) | (137.1 | ) | 73.4 | (63.7 | ) | 1,244.00 | (1,027.8 | ) | ||||||||||||||||
Other comprehensive (loss)/income: | ||||||||||||||||||||||||||||
Total other comprehensive (loss)/income, net of income taxes | — | (19.0 | ) | — | 29.7 | 29.7 | — | 10.7 | ||||||||||||||||||||
Less: foreign currency translation adjustments attributable to noncontrolling interests, net of income taxes | — | — | — | (1.3 | ) | (1.3 | ) | — | (1.3 | ) | ||||||||||||||||||
Comprehensive (loss)/income attributable to Caesars | $ | (1,027.8 | ) | $ | (1,199.3 | ) | $ | (137.1 | ) | $ | 101.8 | $ | (35.3 | ) | $ | 1,244.00 | $ | (1,018.4 | ) | |||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | ||||||||||||||||||||||||||||
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2013 | ||||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||
CEC | Subsidiary | Subsidiary Guarantors of Parent and Subsidiary Guaranteed Debt (a) | Subsidiary Non-Guarantors of Parent and Subsidiary Guaranteed Debt (b) | Subsidiary Non-Guarantors of Parent-Only Guaranteed Debt (a) + (b) | Consolidating/ | Total | ||||||||||||||||||||||
(Parent Guarantor) | Issuer | Eliminating | ||||||||||||||||||||||||||
Adjustments | ||||||||||||||||||||||||||||
Cash flows provided by/(used in) operating activities | $ | 313.8 | $ | (520.9 | ) | $ | 160.6 | $ | 34.7 | $ | 195.3 | $ | 0.8 | $ | (11.0 | ) | ||||||||||||
Cash flows from investing activities | ||||||||||||||||||||||||||||
Acquisitions of property and equipment, net of change in related payables | — | (7.6 | ) | (233.9 | ) | (225.2 | ) | (459.1 | ) | — | (466.7 | ) | ||||||||||||||||
Change in restricted cash | (30.5 | ) | — | (1.0 | ) | 702.7 | 701.7 | — | 671.2 | |||||||||||||||||||
Payments to acquire businesses, net of transaction costs and cash acquired | — | — | — | (8.6 | ) | (8.6 | ) | — | (8.6 | ) | ||||||||||||||||||
Proceeds from partial sale of a subsidiary, net of cash deconsolidated | — | — | (25.7 | ) | 76.1 | 50.4 | — | 50.4 | ||||||||||||||||||||
Investments in/advances to non-consolidated affiliates | — | — | — | (36.2 | ) | (36.2 | ) | — | (36.2 | ) | ||||||||||||||||||
Purchase of additional interests in subsidiaries | (321.8 | ) | (15.8 | ) | — | — | — | 337.6 | — | |||||||||||||||||||
Dividends received | — | 48.4 | 74.2 | — | 74.2 | (122.6 | ) | — | ||||||||||||||||||||
Purchases of investment securities | — | — | — | (26.7 | ) | (26.7 | ) | — | (26.7 | ) | ||||||||||||||||||
Proceeds from the sale and maturity of investment securities | — | — | — | 55.8 | 55.8 | — | 55.8 | |||||||||||||||||||||
Other | (0.2 | ) | — | (2.4 | ) | (11.5 | ) | (13.9 | ) | — | (14.1 | ) | ||||||||||||||||
Cash flows (used in)/provided by investing activities | (352.5 | ) | 25 | (188.8 | ) | 526.4 | 337.6 | 215 | 225.1 | |||||||||||||||||||
Cash flows from financing activities | ||||||||||||||||||||||||||||
Proceeds from the issuance of long-term debt | — | 127.2 | — | 1,680.90 | 1,680.90 | — | 1,808.10 | |||||||||||||||||||||
Assumption of debt issued by non-guarantors | — | 2,199.40 | — | (2,199.4 | ) | (2,199.4 | ) | — | — | |||||||||||||||||||
Debt issuance costs and fees | — | (49.8 | ) | — | (8.0 | ) | (8.0 | ) | — | (57.8 | ) | |||||||||||||||||
Borrowings under lending agreements | — | — | — | — | — | — | — | |||||||||||||||||||||
Purchase of additional interests in subsidiary | — | — | — | (9.9 | ) | (9.9 | ) | — | (9.9 | ) | ||||||||||||||||||
Cash paid for early extinguishments of debt | — | (1,783.3 | ) | — | (284.5 | ) | (284.5 | ) | — | (2,067.8 | ) | |||||||||||||||||
Cash paid for loan maturity extension fees | — | — | — | (23.3 | ) | (23.3 | ) | — | (23.3 | ) | ||||||||||||||||||
Scheduled debt retirements | — | (8.1 | ) | (1.5 | ) | — | (1.5 | ) | — | (9.6 | ) | |||||||||||||||||
Dividends paid | — | — | (48.4 | ) | (74.2 | ) | (122.6 | ) | 122.6 | — | ||||||||||||||||||
Contributions from noncontrolling interest owners | — | — | — | 35.3 | 35.3 | — | 35.3 | |||||||||||||||||||||
Issuance of common stock, net of fees | 16.2 | — | — | — | — | — | 16.2 | |||||||||||||||||||||
Other | — | — | (6.2 | ) | (14.9 | ) | (21.1 | ) | — | (21.1 | ) | |||||||||||||||||
Transfers from/(to) affiliates | 238 | (229.9 | ) | (0.1 | ) | 330.4 | 330.3 | (338.4 | ) | — | ||||||||||||||||||
Cash flows provided by/(used in) financing activities | 254.2 | 255.5 | (56.2 | ) | (567.6 | ) | (623.8 | ) | (215.8 | ) | (329.9 | ) | ||||||||||||||||
Cash flows from discontinued operations | ||||||||||||||||||||||||||||
Cash flows from operating activities | — | — | (0.5 | ) | 1.2 | 0.7 | — | 0.7 | ||||||||||||||||||||
Cash flows from investing activities | — | — | — | 65.7 | 65.7 | — | 65.7 | |||||||||||||||||||||
Net cash (used in)/provided by discontinued operations | — | — | (0.5 | ) | 66.9 | 66.4 | — | 66.4 | ||||||||||||||||||||
Net increase/(decrease) in cash and cash equivalents | 215.5 | (240.4 | ) | (84.9 | ) | 60.4 | (24.5 | ) | — | (49.4 | ) | |||||||||||||||||
Change in cash classified as assets held for sale | — | — | — | (0.2 | ) | (0.2 | ) | — | (0.2 | ) | ||||||||||||||||||
Cash and cash equivalents, beginning of period | 7.4 | 911.9 | 353.8 | 484.4 | 838.2 | — | 1,757.50 | |||||||||||||||||||||
Cash and cash equivalents, end of period | $ | 222.9 | $ | 671.5 | $ | 268.9 | $ | 544.6 | $ | 813.5 | $ | — | $ | 1,707.90 | ||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | ||||||||||||||||||||||||||||
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2012 | ||||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||
CEC | Subsidiary | Subsidiary Guarantors of Parent and Subsidiary Guaranteed Debt (a) | Subsidiary Non-Guarantors of Parent and Subsidiary Guaranteed Debt (b) | Subsidiary Non-Guarantors of Parent-Only Guaranteed Debt (a) + (b) | Consolidating/ | Total | ||||||||||||||||||||||
(Parent Guarantor) | Issuer | Eliminating | ||||||||||||||||||||||||||
Adjustments | ||||||||||||||||||||||||||||
Cash flows provided by/(used in) operating activities | $ | 262.5 | $ | 53.8 | $ | (82.7 | ) | $ | 14.1 | $ | (68.6 | ) | $ | 9.7 | $ | 257.4 | ||||||||||||
Cash flows from investing activities | ||||||||||||||||||||||||||||
Acquisitions of property and equipment, net of change in related payables | — | (0.7 | ) | (104.6 | ) | (198.1 | ) | (302.7 | ) | — | (303.4 | ) | ||||||||||||||||
Change in restricted cash | — | — | — | (551.0 | ) | (551.0 | ) | — | (551.0 | ) | ||||||||||||||||||
Cash received in conjunction with the sale of a subsidiary, net of cash contributed | — | — | — | 42.4 | 42.4 | — | 42.4 | |||||||||||||||||||||
Payments to acquire businesses, net of transaction costs and cash acquired | — | — | — | 7.7 | 7.7 | — | 7.7 | |||||||||||||||||||||
Investments in/advances to non-consolidated affiliates | — | — | — | (22.8 | ) | (22.8 | ) | — | (22.8 | ) | ||||||||||||||||||
Return of investment in subsidiary | — | — | 92.5 | — | 92.5 | (92.5 | ) | — | ||||||||||||||||||||
Purchase of additional interests in subsidiaries | (127.7 | ) | (22.8 | ) | — | — | — | 150.5 | — | |||||||||||||||||||
Purchases of investment securities | — | — | — | (36.0 | ) | (36.0 | ) | — | (36.0 | ) | ||||||||||||||||||
Proceeds from the sale and maturity of investment securities | — | — | — | 27 | 27 | — | 27 | |||||||||||||||||||||
Other | (0.6 | ) | — | (8.0 | ) | 2.3 | (5.7 | ) | — | (6.3 | ) | |||||||||||||||||
Cash flows (used in)/provided by investing activities | (128.3 | ) | (23.5 | ) | (20.1 | ) | (728.5 | ) | (748.6 | ) | 58 | (842.4 | ) | |||||||||||||||
Cash flows from financing activities | ||||||||||||||||||||||||||||
Proceeds from the issuance of long-term debt | — | 110.9 | — | 2,358.50 | 2,358.50 | — | 2,469.40 | |||||||||||||||||||||
Assumption of debt by non-guarantors | — | 1,250.00 | — | (1,250.0 | ) | (1,250.0 | ) | — | — | |||||||||||||||||||
Debt issuance costs and fees | — | (24.7 | ) | — | (7.2 | ) | (7.2 | ) | — | (31.9 | ) | |||||||||||||||||
Borrowings under lending agreements | — | 453 | — | — | — | — | 453 | |||||||||||||||||||||
Repayments under lending agreements | — | (608.0 | ) | — | — | — | — | (608.0 | ) | |||||||||||||||||||
Cash paid for early extinguishments of debt | — | (1,095.6 | ) | — | (355.0 | ) | (355.0 | ) | — | (1,450.6 | ) | |||||||||||||||||
Scheduled debt retirements | — | (11.3 | ) | (1.4 | ) | — | (1.4 | ) | — | (12.7 | ) | |||||||||||||||||
Purchase of additional interests in subsidiary | — | — | (9.6 | ) | — | (9.6 | ) | — | (9.6 | ) | ||||||||||||||||||
Proceeds from sale of additional interest in a subsidiary | — | — | — | 32.2 | 32.2 | — | 32.2 | |||||||||||||||||||||
Issuance of common stock, net of fees | 17.4 | — | — | — | — | — | 17.4 | |||||||||||||||||||||
Other | — | — | (8.2 | ) | (1.0 | ) | (9.2 | ) | — | (9.2 | ) | |||||||||||||||||
Transfer (to)/from affiliates | (136.2 | ) | 308.8 | 0.1 | (114.7 | ) | (114.6 | ) | (58.0 | ) | — | |||||||||||||||||
Cash flows (used in)/provided by financing activities | (118.8 | ) | 383.1 | (19.1 | ) | 662.8 | 643.7 | (58.0 | ) | 850 | ||||||||||||||||||
Cash flows from discontinued operations | ||||||||||||||||||||||||||||
Cash flows from operating activities | — | — | 39.9 | (0.9 | ) | 39 | (9.7 | ) | 29.3 | |||||||||||||||||||
Cash flows from investing activities | — | — | (2.3 | ) | (0.6 | ) | (2.9 | ) | — | (2.9 | ) | |||||||||||||||||
Net cash provided by/(used in) discontinued operations | — | — | 37.6 | (1.5 | ) | 36.1 | (9.7 | ) | 26.4 | |||||||||||||||||||
Net increase/(decrease) in cash and cash equivalents | 15.4 | 413.4 | (84.3 | ) | (53.1 | ) | (137.4 | ) | — | 291.4 | ||||||||||||||||||
Change in cash classified as assets held for sale | — | — | 1.6 | 0.9 | 2.5 | — | 2.5 | |||||||||||||||||||||
Cash and cash equivalents, beginning of period | 3.9 | 16.6 | 372.5 | 498.2 | 870.7 | — | 891.2 | |||||||||||||||||||||
Cash and cash equivalents, end of period | $ | 19.3 | $ | 430 | $ | 289.8 | $ | 446 | $ | 735.8 | $ | — | $ | 1,185.10 | ||||||||||||||
Organization_and_Basis_of_Pres1
Organization and Basis of Presentation (Policies) | 9 Months Ended |
Sep. 30, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Basis of Presentation | ' |
The accompanying unaudited consolidated condensed financial statements of the Company have been prepared under the rules and regulations of the Securities and Exchange Commission ("SEC") applicable for interim periods and, therefore, do not include all information and footnotes necessary for complete financial statements in conformity with accounting principles generally accepted in the United States ("GAAP"). The results for the interim periods reflect all adjustments (consisting primarily of normal recurring adjustments) that management considers necessary for a fair presentation of financial position, results of operations, and cash flows. The results of operations for our interim periods are not necessarily indicative of the results of operations that may be achieved for the entire 2013 fiscal year. | |
The financial information for the three and nine months ended September 30, 2012 is derived from our consolidated condensed financial statements and footnotes included in the Quarterly Report on Form 10-Q for the three months ended September 30, 2012 and has been revised to reflect the results of operations and cash flows of the Alea Leeds casino and the subsidiaries that hold a land concession in Macau as discontinued operations. See Note 3, "Acquisitions, Investments, Dispositions and Divestitures." | |
Reclassifications | ' |
We have revised certain other amounts for prior periods to conform to our 2013 presentation. This Form 10-Q filing should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2012, as amended ("2012 10-K"). |
Acquisitions_Investments_Dispo1
Acquisitions, Investments, Dispositions and Divestitures (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Business Combinations [Abstract] | ' | |||||||||||||||
Components of Assets and Liabilities Held for Sale | ' | |||||||||||||||
Assets and liabilities classified as held for sale relate to the subsidiaries that hold our land concessions in Macau and the Marketplace Parcels in Atlantic City are as follows: | ||||||||||||||||
(In millions) | September 30, 2013 | December 31, 2012 | ||||||||||||||
Assets | ||||||||||||||||
Cash and cash equivalents | $ | 4.9 | $ | 4.7 | ||||||||||||
Other current assets | 0.5 | 0.4 | ||||||||||||||
Assets held for sale, current | $ | 5.4 | $ | 5.1 | ||||||||||||
Property and equipment, net | $ | 466 | $ | 471.2 | ||||||||||||
Assets held for sale, non-current | $ | 466 | $ | 471.2 | ||||||||||||
Liabilities | ||||||||||||||||
Accounts payable and accrued expenses | $ | 0.7 | $ | 3.8 | ||||||||||||
Liabilities held for sale, current | $ | 0.7 | $ | 3.8 | ||||||||||||
Deferred credits and other | $ | 2.5 | $ | 0.2 | ||||||||||||
Deferred income taxes | 51.8 | 51.9 | ||||||||||||||
Liabilities held for sale, non-current | $ | 54.3 | $ | 52.1 | ||||||||||||
Income from Discontinued Operations | ' | |||||||||||||||
Net revenues, pre-tax income/(loss) from operations, and income/(loss), net of income taxes presented as discontinued operations are as follows: | ||||||||||||||||
Quarter Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||
Net revenues | ||||||||||||||||
Harrah's St. Louis | $ | — | $ | 60.8 | $ | — | $ | 189.3 | ||||||||
Macau | 0.7 | 1 | 2.5 | 2.6 | ||||||||||||
Alea Leeds | — | 1.6 | 0.7 | 4.3 | ||||||||||||
Total net revenues | $ | 0.7 | $ | 63.4 | $ | 3.2 | $ | 196.2 | ||||||||
Pre-tax income/(loss) from operations | ||||||||||||||||
Harrah's St. Louis | $ | — | $ | 4.6 | $ | (0.7 | ) | $ | 46.5 | |||||||
Macau | 15.3 | (2.8 | ) | (5.2 | ) | (112.4 | ) | |||||||||
Alea Leeds | (0.4 | ) | (1.0 | ) | (23.4 | ) | (3.5 | ) | ||||||||
Total pre-tax income/(loss) from discontinued | $ | 14.9 | $ | 0.8 | $ | (29.3 | ) | $ | (69.4 | ) | ||||||
operations | ||||||||||||||||
Income/(loss), net of income taxes | ||||||||||||||||
Harrah's St. Louis | $ | (0.1 | ) | $ | 2.8 | $ | (0.5 | ) | $ | 28.5 | ||||||
Macau | 12.3 | (2.6 | ) | (5.6 | ) | (99.0 | ) | |||||||||
Alea Leeds | (0.4 | ) | (1.0 | ) | (23.4 | ) | (3.5 | ) | ||||||||
Total income/(loss) from discontinued | $ | 11.8 | $ | (0.8 | ) | $ | (29.5 | ) | $ | (74.0 | ) | |||||
operations, net of income taxes | ||||||||||||||||
Property_and_Equipment_net_Tab
Property and Equipment, net (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||||||||||
Property and Equipment, Net | ' | |||||||||||||||
Property and equipment, net consists of the following: | ||||||||||||||||
(In millions) | September 30, 2013 | December 31, 2012 | ||||||||||||||
Land and land improvements | $ | 6,810.30 | $ | 7,208.80 | ||||||||||||
Buildings, riverboats, and improvements | 8,102.90 | 8,725.70 | ||||||||||||||
Furniture, fixtures, and equipment | 2,530.70 | 2,491.00 | ||||||||||||||
Construction in progress | 694.8 | 378.3 | ||||||||||||||
18,138.70 | 18,803.80 | |||||||||||||||
Less: accumulated depreciation | (3,222.3 | ) | (3,102.1 | ) | ||||||||||||
$ | 14,916.40 | $ | 15,701.70 | |||||||||||||
Depreciation Expense | ' | |||||||||||||||
Depreciation expense, which is included in depreciation and amortization, corporate expense and income/(loss) from discontinued operations in our Consolidated Condensed Statements of Operations, is as follows: | ||||||||||||||||
Quarter Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||
Depreciation expense | $ | 131.7 | $ | 188.2 | $ | 438.1 | $ | 571.8 | ||||||||
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Tables) | 9 Months Ended | |||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||||||||
Changes in Goodwill and Other Intangible Assets | ' | |||||||||||||||||||||||||
The following table sets forth changes in our goodwill and other intangible assets for the nine months ended September 30, 2013: | ||||||||||||||||||||||||||
Amortizing | Non-Amortizing Intangible Assets | |||||||||||||||||||||||||
(In millions) | Intangible Assets | Goodwill | Other | |||||||||||||||||||||||
Balance at December 31, 2012 | $ | 1,027.60 | $ | 3,160.30 | $ | 2,958.10 | ||||||||||||||||||||
Impairments | (11.4 | ) | (133.3 | ) | (198.2 | ) | ||||||||||||||||||||
Amortization expense | (124.4 | ) | — | — | ||||||||||||||||||||||
Foreign currency translation | (0.1 | ) | — | (0.5 | ) | |||||||||||||||||||||
Additions | 11.4 | — | — | |||||||||||||||||||||||
Disposals | — | (14.9 | ) | — | ||||||||||||||||||||||
Other | (1.7 | ) | 7.4 | (0.6 | ) | |||||||||||||||||||||
Balance at September 30, 2013 | $ | 901.4 | $ | 3,019.50 | $ | 2,758.80 | ||||||||||||||||||||
Carrying Value and Accumulated Amortization for Each Major Class of Intangible Assets Other Than Goodwill | ' | |||||||||||||||||||||||||
The following table provides the gross carrying value and accumulated amortization for each major class of intangible assets other than goodwill: | ||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | |||||||||||||||||||||||||
(Dollars in millions) | Weighted | Gross | Accumulated | Net | Gross | Accumulated | Net | |||||||||||||||||||
Average | Carrying | Amortization | Carrying | Carrying | Amortization | Carrying | ||||||||||||||||||||
Remaining | Amount | Amount | Amount | Amount | ||||||||||||||||||||||
Useful Life | ||||||||||||||||||||||||||
(in years) | ||||||||||||||||||||||||||
Amortizing intangible assets | ||||||||||||||||||||||||||
Customer relationships | 6.3 | $ | 1,432.10 | $ | (699.7 | ) | $ | 732.4 | $ | 1,456.70 | $ | (618.0 | ) | $ | 838.7 | |||||||||||
Contract rights | 1.2 | 145.1 | (76.4 | ) | 68.7 | 145.1 | (66.3 | ) | 78.8 | |||||||||||||||||
Patented technology | 3 | 166.8 | (94.5 | ) | 72.3 | 156.7 | (76.6 | ) | 80.1 | |||||||||||||||||
Gaming rights | 10.8 | 42.8 | (14.8 | ) | 28 | 42.8 | (12.8 | ) | 30 | |||||||||||||||||
Trademarks | — | — | — | — | 1.7 | (1.7 | ) | — | ||||||||||||||||||
$ | 1,786.80 | $ | (885.4 | ) | 901.4 | $ | 1,803.00 | $ | (775.4 | ) | 1,027.60 | |||||||||||||||
Non-amortizing intangible assets | ||||||||||||||||||||||||||
Trademarks | 1,601.50 | 1,699.70 | ||||||||||||||||||||||||
Gaming rights | 1,157.30 | 1,258.40 | ||||||||||||||||||||||||
2,758.80 | 2,958.10 | |||||||||||||||||||||||||
Total intangible assets other than goodwill | $ | 3,660.20 | $ | 3,985.70 | ||||||||||||||||||||||
Debt_Tables
Debt (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||||
Outstanding Debt | ' | ||||||||||||||||
The following table presents our outstanding debt as of September 30, 2013 and December 31, 2012: | |||||||||||||||||
Detail of Debt (Dollars in millions) | Final | Rate(s) | Face Value | Book Value | Book Value | ||||||||||||
Maturity | |||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||
Credit Facilities (a) | |||||||||||||||||
Term Loans B1 - B3 | 2015 | 3.18% - 3.25% | $ | 29.1 | $ | 29.1 | $ | 1,025.80 | |||||||||
Term Loan B4 | 2016 | 9.50% | 962.5 | 949.6 | 954.5 | ||||||||||||
Term Loan B5 | 2018 | 4.43% | 991.9 | 989.2 | 1,218.80 | ||||||||||||
Term Loan B6 | 2018 | 5.43% | 2,431.90 | 2,398.40 | 2,812.60 | ||||||||||||
Revolving Credit Facility | 2014 | — | — | — | — | ||||||||||||
Revolving Credit Facility | 2017 | — | — | — | — | ||||||||||||
Secured Debt | |||||||||||||||||
Senior Secured Notes (a) | 2017 | 11.25% | 2,095.00 | 2,064.70 | 2,060.20 | ||||||||||||
Senior Secured Notes (a) | 2020 | 8.50% | 1,250.00 | 1,250.00 | 1,250.00 | ||||||||||||
Senior Secured Notes (a) | 2020 | 9.00% | 3,000.00 | 2,953.20 | 1,486.90 | ||||||||||||
CMBS Financing | 2015 | (c) | 3.68% | 4,389.00 | 4,371.10 | 4,660.50 | |||||||||||
Second-Priority Senior Secured Notes (a) | 2018 | 12.75% | 750 | 743.7 | 742.9 | ||||||||||||
Second-Priority Senior Secured Notes (a) | 2018 | 10.00% | 4,528.10 | 2,377.70 | 2,260.20 | ||||||||||||
Second-Priority Senior Secured Notes (a) | 2015 | 10.00% | 214.8 | 184.4 | 173.7 | ||||||||||||
Chester Downs Senior Secured Notes | 2020 | 9.25% | 330 | 330 | 330 | ||||||||||||
PHW Las Vegas Senior Secured Loan | 2015 | (d) | 3.04% | 510 | 464 | 438.2 | |||||||||||
LINQ/Octavius Senior Secured Loan | 2017 | (c) | 9.25% | 450 | 447 | 446.5 | |||||||||||
Bill's Gamblin' Hall & Saloon Credit Facility | 2019 | 11.00% | 185 | 181.6 | 181.4 | ||||||||||||
CBAC | 2020 | 8.25% | 225 | 218.5 | — | ||||||||||||
Subsidiary-Guaranteed Debt (b) | |||||||||||||||||
Senior Notes | 2016 | 10.75% | 478.6 | 478.6 | 478.6 | ||||||||||||
Senior PIK Toggle Notes | 2018 | 10.75% - 11.50% | 10.9 | 10.9 | 9.7 | ||||||||||||
Unsecured Senior Debt (a) | |||||||||||||||||
5.38% | 2013 | 5.38% | 80.7 | 79.5 | 116.6 | ||||||||||||
7.00% | 2013 | 7.00% | — | — | 0.6 | ||||||||||||
5.63% | 2015 | 5.63% | 364.4 | 322.6 | 306.7 | ||||||||||||
6.50% | 2016 | 6.50% | 248.7 | 209.5 | 200.9 | ||||||||||||
5.75% | 2017 | 5.75% | 147.9 | 113.3 | 108.7 | ||||||||||||
Floating Rate Contingent Convertible | 2024 | 0.57% | 0.2 | 0.2 | 0.2 | ||||||||||||
Senior Notes | |||||||||||||||||
Other Unsecured Borrowings | |||||||||||||||||
Special Improvement District Bonds | 2037 | 5.30% | 62.9 | 62.9 | 64.3 | ||||||||||||
Other | 2016 | 0.00% - 6.00% | 84.7 | 84.7 | 47.7 | ||||||||||||
Capitalized Lease Obligations | to 2017 | 3.57% - 11.00% | 25.8 | 25.8 | 35.9 | ||||||||||||
Total Debt | 23,847.10 | 21,340.20 | 21,412.10 | ||||||||||||||
Current Portion of Long-Term Debt | (167.6 | ) | (166.4 | ) | (879.9 | ) | |||||||||||
Long-Term Debt | $ | 23,679.50 | $ | 21,173.80 | $ | 20,532.20 | |||||||||||
___________________ | |||||||||||||||||
(a) | Guaranteed by Caesars Entertainment. | ||||||||||||||||
(b) | Guaranteed by Caesars Entertainment and certain wholly owned subsidiaries of CEOC. | ||||||||||||||||
(c) | Refinanced October 2013. See Note 21, "Subsequent Events." | ||||||||||||||||
(d) | Based on our ability and intent, assumes the exercise of extension options to move the maturity from 2013 to 2015, subject to certain conditions. |
Derivative_Instruments_Tables
Derivative Instruments (Tables) | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||
Derivative Instruments Interest Rate Swap Agreements | ' | ||||||||||||||||||
The major terms of the interest rate swap agreements as of September 30, 2013 are as follows: | |||||||||||||||||||
Effective Date | Notional Amount | Fixed Rate | Variable Rate Received | Next Reset Date | Maturity Date | ||||||||||||||
(In millions) | Paid | ||||||||||||||||||
April 25, 2011 | $ | 250 | 1.351 | % | 0.179 | % | 25-Oct-13 | 25-Jan-15 | |||||||||||
25-Apr-11 | 250 | 1.347 | % | 0.179 | % | 25-Oct-13 | 25-Jan-15 | ||||||||||||
25-Apr-11 | 250 | 1.35 | % | 0.179 | % | 25-Oct-13 | 25-Jan-15 | ||||||||||||
25-Jan-11 | 1,000.00 | 3.068 | % | 0.179 | % | 25-Oct-13 | 25-Jan-15 | ||||||||||||
25-Apr-11 | 1,000.00 | 3.15 | % | 0.179 | % | 25-Oct-13 | 25-Jan-15 | ||||||||||||
25-Jan-11 | 1,000.00 | 3.75 | % | 0.179 | % | 25-Oct-13 | 25-Jan-15 | ||||||||||||
25-Apr-11 | 1,000.00 | 3.264 | % | 0.179 | % | 25-Oct-13 | 25-Jan-15 | ||||||||||||
25-Jan-11 | 1,000.00 | 3.814 | % | 0.179 | % | 25-Oct-13 | 25-Jan-15 | ||||||||||||
Fair Values of Derivative Instruments | ' | ||||||||||||||||||
The following table represents the fair values of derivative instruments in the Consolidated Condensed Balance Sheets as of September 30, 2013 and December 31, 2012: | |||||||||||||||||||
(In millions) | Asset Derivatives | Liability Derivatives | |||||||||||||||||
Fair Value | Fair Value | ||||||||||||||||||
Derivatives instruments | Balance | September 30, 2013 | December 31, 2012 | 30-Sep-13 | 31-Dec-12 | ||||||||||||||
Sheet | |||||||||||||||||||
Location | |||||||||||||||||||
Interest rate swaps | Deferred credits and other | $ | — | $ | — | $ | (203.0 | ) | $ | (306.4 | ) | ||||||||
Interest rate caps | Deferred charges and other | * | * | — | — | ||||||||||||||
Total | $ | — | $ | — | $ | (203.0 | ) | $ | (306.4 | ) | |||||||||
___________________ | |||||||||||||||||||
* | Amount rounds to zero. | ||||||||||||||||||
Effect of Derivative Instruments in Consolidated Statements of Comprehensive Loss | ' | ||||||||||||||||||
The following table represents the effect of the designated interest rate contracts in the Consolidated Condensed Statements of Operations: | |||||||||||||||||||
(In millions) | Quarter Ended | Nine Months Ended | |||||||||||||||||
September 30, | September 30, | ||||||||||||||||||
Derivatives designated as hedging instruments | Location of (Gain) or Loss Recognized in Net Loss | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
Amount of (gain) or loss reclassified from AOCL into net loss (effective portion) | Interest expense | $ | — | $ | 6.9 | $ | 3.9 | $ | 21.2 | ||||||||||
The following table represents the effect of the non-designated interest rate contracts in the Consolidated Condensed Statements of Operations: | |||||||||||||||||||
(In millions) | Quarter Ended | Nine Months Ended | |||||||||||||||||
September 30, | September 30, | ||||||||||||||||||
Derivatives not designated as hedging instruments | Location of (Gain) or Loss Recognized in Net Loss | 2013 | 2012 | 2013 | 2012 | ||||||||||||||
Unrealized (gains)/losses | Interest expense | $ | (34.1 | ) | $ | (6.2 | ) | $ | (100.6 | ) | $ | 10.9 | |||||||
Derivative settlements | Interest expense | 43.4 | 42.6 | 128.3 | 126.6 | ||||||||||||||
Total | $ | 9.3 | $ | 36.4 | $ | 27.7 | $ | 137.5 | |||||||||||
Reclassifications_out_of_Accum1
Reclassifications out of Accumulated Other Comprehensive Loss Reclassification out of Accumulated Other Comprehensive Loss (Tables) | 9 Months Ended | |||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||
Equity [Abstract] | ' | |||||||||||||||||||||||
Reclassifications out of Accumulated Other Comprehensive Loss | ' | |||||||||||||||||||||||
Reclassifications out of AOCL for the three and nine months ended September 30, 2013 include the following: | ||||||||||||||||||||||||
Quarter Ended September 30, 2013 | Nine Months Ended September 30, 2013 | |||||||||||||||||||||||
(In millions) | Defined Benefit Plan Adjustments | Foreign Currency Translation Adjustments | Losses on Derivative Instruments | Defined Benefit Plan Adjustments | Foreign Currency Translation Adjustments | Losses on Derivative Instruments | ||||||||||||||||||
Amount reclassified from AOCL to interest expense, net of capitalized interest | $ | 0.2 | $ | — | $ | — | $ | 0.6 | $ | — | $ | 3.9 | ||||||||||||
Amount reclassified from AOCL to write-downs, reserves, and project opening costs, net of recoveries | — | — | — | — | (4.1 | ) | — | |||||||||||||||||
Amount reclassified from AOCL to loss/(income) from discontinued operations | — | — | — | — | (2.2 | ) | — | |||||||||||||||||
Related tax impact | (0.1 | ) | — | — | (0.2 | ) | — | (1.4 | ) | |||||||||||||||
Reclassification, net of income taxes | $ | 0.1 | $ | — | $ | — | $ | 0.4 | $ | (6.3 | ) | $ | 2.5 | |||||||||||
Reclassifications out of AOCL for the three and nine months ended September 30, 2012 include the following: | ||||||||||||||||||||||||
Quarter Ended September 30, 2012 | Nine Months Ended September 30, 2012 | |||||||||||||||||||||||
(In millions) | Losses on Derivative Instruments | Losses on Derivative Instruments | ||||||||||||||||||||||
Amount reclassified from AOCL to interest expense, net of capitalized interest | $ | 6.9 | $ | 21.2 | ||||||||||||||||||||
Related tax impact | (2.5 | ) | (7.7 | ) | ||||||||||||||||||||
Reclassification, net of income taxes | $ | 4.4 | $ | 13.5 | ||||||||||||||||||||
Casino_Promotional_Allowances_
Casino Promotional Allowances (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Promotional Allowance [Abstract] | ' | |||||||||||||||
Estimated Retail Value and Cost of Providing Casino Promotional Allowances | ' | |||||||||||||||
The estimated retail value of such casino promotional allowances is included in operating revenues as follows: | ||||||||||||||||
Quarter Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||
Food and Beverage | $ | 157 | $ | 166.8 | $ | 469.9 | $ | 497.3 | ||||||||
Rooms | 119.8 | 127.7 | 343 | 366 | ||||||||||||
Other | 23.8 | 28.1 | 68.8 | 74.1 | ||||||||||||
$ | 300.6 | $ | 322.6 | $ | 881.7 | $ | 937.4 | |||||||||
The estimated cost of providing such casino promotional allowances is included in casino expenses as follows: | ||||||||||||||||
Quarter Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||
Food and Beverage | $ | 115 | $ | 119.7 | $ | 339.4 | $ | 362.3 | ||||||||
Rooms | 44.6 | 48.2 | 132 | 140.2 | ||||||||||||
Other | 13.7 | 15 | 34.8 | 38.3 | ||||||||||||
$ | 173.3 | $ | 182.9 | $ | 506.2 | $ | 540.8 | |||||||||
Loss_Per_Share_Tables
Loss Per Share (Tables) | 9 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Number of Shares Excluded from Computation of Diluted Loss Per Share | ' | |||||||||||
The following table shows the number of shares which were excluded from the computation of diluted loss per share as they were anti-dilutive: | ||||||||||||
Quarter Ended September 30, | Nine Months Ended September 30, | |||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | ||||||||
Stock options | 4.9 | 8.1 | 4 | 7.4 | ||||||||
Warrants | 0.4 | 0.4 | 0.4 | 0.4 | ||||||||
Total anti-dilutive potential common shares | 5.3 | 8.5 | 4.4 | 7.8 | ||||||||
Writedowns_Reserves_and_Projec1
Write-downs, Reserves, and Project Opening Costs, net of Recoveries (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Disclosure Writedowns Reserves And Project Opening Costs Net Of Recoveries Components Of Write Downs Reserves And Project Opening Costs Net Of Recoveries [Abstract] | ' | |||||||||||||||
Components of Write-Downs, Reserves, and Project Opening Costs, Net of Recoveries | ' | |||||||||||||||
The components of write-downs, reserves, and project opening costs, net of recoveries are as follows: | ||||||||||||||||
Quarter Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||
Remediation costs | $ | 5.4 | $ | 6.4 | $ | 24.4 | $ | 12.4 | ||||||||
Divestitures and abandonments | 2.4 | 28.1 | 16.3 | 36.2 | ||||||||||||
Project opening costs | 7 | 2.8 | 11.6 | 4.7 | ||||||||||||
Other | (14.3 | ) | (4.5 | ) | (7.6 | ) | 3.6 | |||||||||
Total write-downs, reserves, and project opening costs, net of recoveries | $ | 0.5 | $ | 32.8 | $ | 44.7 | $ | 56.9 | ||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||||||
Allocation of Total Income Taxes | ' | |||||||||||||||
Total income taxes were allocated as follows: | ||||||||||||||||
Quarter Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||
Income tax benefit on loss before income taxes | $ | (413.4 | ) | $ | (225.3 | ) | $ | (819.3 | ) | $ | (489.5 | ) | ||||
Income tax provision on discontinued | 3.1 | 1.6 | 0.2 | 4.6 | ||||||||||||
operations | ||||||||||||||||
Accumulated other comprehensive loss | (0.9 | ) | (4.1 | ) | (2.1 | ) | (8.7 | ) | ||||||||
Additional paid-in capital | — | 2.1 | — | 2.1 | ||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||
Fair Value of Financial Assets and Financial Liabilities | ' | |||||||||||||||||||
The following table shows the fair value of our financial assets and financial liabilities that are required to be measured at fair value as of September 30, 2013 and December 31, 2012: | ||||||||||||||||||||
(In millions) | Balance | Level 1 | Level 2 | Level 3 | ||||||||||||||||
September 30, 2013 | ||||||||||||||||||||
Assets: | ||||||||||||||||||||
Investments | $ | 99.6 | $ | 99.6 | $ | — | $ | — | ||||||||||||
Derivative instruments | * | — | * | — | ||||||||||||||||
Liabilities: | ||||||||||||||||||||
Derivative instruments | (203.0 | ) | — | (203.0 | ) | — | ||||||||||||||
December 31, 2012 | ||||||||||||||||||||
Assets: | ||||||||||||||||||||
Investments | $ | 114.2 | $ | 114.2 | $ | — | $ | — | ||||||||||||
Derivative instruments | * | — | * | — | ||||||||||||||||
Liabilities: | ||||||||||||||||||||
Derivative instruments | (306.4 | ) | — | (306.4 | ) | — | ||||||||||||||
___________________ | ||||||||||||||||||||
* | Amount rounds to zero | |||||||||||||||||||
Fair Value of Investments in Marketable Securities | ' | |||||||||||||||||||
The fair value of investments in marketable securities were as follows: | ||||||||||||||||||||
(In millions) | September 30, 2013 | December 31, 2012 | ||||||||||||||||||
Equity securities | $ | 18.9 | $ | 2.8 | ||||||||||||||||
Government bonds | 80.7 | 111.4 | ||||||||||||||||||
Total investments | $ | 99.6 | $ | 114.2 | ||||||||||||||||
Fair Value of Assets Required to be Measured at Fair Value | ' | |||||||||||||||||||
The following table shows the fair value of our assets and liabilities that are required to be measured at fair value as of September 30, 2013 and the total adjustments recorded on these items during the nine months ended September 30, 2013: | ||||||||||||||||||||
(In millions) | Balance | Level 1 | Level 2 | Level 3 | Total Adjustments | |||||||||||||||
Loss/(Gain) | ||||||||||||||||||||
Intangible and tangible assets | $ | 2,651.20 | $ | — | $ | — | $ | 2,651.20 | $ | 954 | ||||||||||
Net assets held for sale | 445.3 | — | — | 445.3 | 27.5 | |||||||||||||||
Contingent earnout liability | 57 | — | — | 57 | 48.9 | |||||||||||||||
Supplemental_Cash_Flow_Informa1
Supplemental Cash Flow Information (Tables) | 9 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Supplemental Cash Flow Information [Abstract] | ' | |||||||
Supplemental Cash Flow Reconciliation | ' | |||||||
The following table reconciles our interest expense, net of capitalized interest, per the Consolidated Condensed Statements of Operations, to cash paid for interest: | ||||||||
Nine Months Ended September 30, | ||||||||
(In millions) | 2013 | 2012 | ||||||
Interest expense, net of interest capitalized | $ | 1,677.70 | $ | 1,574.30 | ||||
Adjustments to reconcile to cash paid for interest: | ||||||||
Net change in accruals | (142.4 | ) | (138.7 | ) | ||||
Amortization of deferred finance charges | (41.6 | ) | (66.5 | ) | ||||
Net amortization of discounts and premiums | (231.4 | ) | (166.2 | ) | ||||
Amortization of accumulated other comprehensive loss | (4.5 | ) | (21.2 | ) | ||||
Rollover of PIK interest to principal | (1.2 | ) | (1.0 | ) | ||||
Change in fair value of derivative instruments | 100.6 | (10.9 | ) | |||||
Cash paid for interest | $ | 1,357.20 | $ | 1,169.80 | ||||
Cash payments for income taxes, net | $ | 25.2 | $ | 9.1 | ||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||
Stock-Based Compensation Expense Recognized | ' | |||||||||||||||
The Company has recognized compensation expense associated with its stock-based compensation programs as follows: | ||||||||||||||||
Quarter Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | ||||||||||||
Amounts included in: | ||||||||||||||||
Corporate expense | $ | 5.2 | $ | 6.3 | $ | 8.5 | $ | 20.5 | ||||||||
Property, general, administrative, and other | 3.3 | 3.5 | 9.7 | 22.5 | ||||||||||||
Total stock-based compensation expense | $ | 8.5 | $ | 9.8 | $ | 18.2 | $ | 43 | ||||||||
Summary of Share-Based Option Activity | ' | |||||||||||||||
The following is a summary of share-based option activity, including options under the Company's 2008 incentive plan and the Company's 2012 incentive plan and warrants to purchase common stock, for the nine months ended September 30, 2013: | ||||||||||||||||
Shares | Weighted Average | |||||||||||||||
Exercise Price | ||||||||||||||||
Outstanding at December 31, 2012 | 8,478,148 | $ | 12.22 | |||||||||||||
Granted | 550,812 | $ | 13.65 | |||||||||||||
Exercised | (127,660 | ) | $ | 8.39 | ||||||||||||
Canceled | (345,107 | ) | $ | 12.05 | ||||||||||||
Outstanding at September 30, 2013 | 8,556,193 | $ | 12.38 | |||||||||||||
Vested and expected to vest at September 30, 2013 | 6,753,926 | $ | 12.44 | |||||||||||||
Exercisable at September 30, 2013 | 2,301,361 | $ | 15.58 | |||||||||||||
Condensed_Consolidating_Financ1
Condensed Consolidating Financial Information of Guarantors and Issuers (Tables) | 9 Months Ended | |||||||||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | |||||||||||||||||||||||||||
Condensed Consolidating Balance Sheet | ' | |||||||||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET | ||||||||||||||||||||||||||||
30-Sep-13 | ||||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||
CEC | Subsidiary | Subsidiary Guarantors of Parent and Subsidiary Guaranteed Debt (a) | Subsidiary Non-Guarantors of Parent and Subsidiary Guaranteed Debt (b) | Subsidiary Non-Guarantors of Parent-Only Guaranteed Debt (a) + (b) | Consolidating/ | Total | ||||||||||||||||||||||
(Parent Guarantor) | Issuer | Eliminating | ||||||||||||||||||||||||||
Adjustments | ||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||
Current assets | ||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 222.9 | $ | 671.5 | $ | 268.9 | $ | 544.6 | $ | 813.5 | $ | — | $ | 1,707.90 | ||||||||||||||
Restricted cash | 30.5 | — | 1 | 91.9 | 92.9 | — | 123.4 | |||||||||||||||||||||
Receivables, net of allowance for doubtful accounts | — | 22.6 | 308.1 | 176.2 | 484.3 | — | 506.9 | |||||||||||||||||||||
Deferred income taxes | — | 52.4 | 68.6 | 19.7 | 88.3 | — | 140.7 | |||||||||||||||||||||
Prepayments and other current assets | 1.1 | 13.4 | 77.1 | 105 | 182.1 | — | 196.6 | |||||||||||||||||||||
Inventories | — | 0.3 | 27.5 | 15.5 | 43 | — | 43.3 | |||||||||||||||||||||
Intercompany receivables | 19.9 | 291.6 | 164.3 | 93.5 | 257.8 | (569.3 | ) | — | ||||||||||||||||||||
Assets held for sale | — | — | — | 5.4 | 5.4 | — | 5.4 | |||||||||||||||||||||
Total current assets | 274.4 | 1,051.80 | 915.5 | 1,051.80 | 1,967.30 | (569.3 | ) | 2,724.20 | ||||||||||||||||||||
Property and equipment, net | — | 187.3 | 7,797.20 | 6,935.40 | 14,732.60 | (3.5 | ) | 14,916.40 | ||||||||||||||||||||
Goodwill | — | — | 1,231.20 | 1,788.30 | 3,019.50 | — | 3,019.50 | |||||||||||||||||||||
Intangible assets other than goodwill | — | 3.7 | 2,914.50 | 742 | 3,656.50 | — | 3,660.20 | |||||||||||||||||||||
Investments in subsidiaries | — | 10,443.20 | 897.4 | 953.9 | 1,851.30 | (12,294.5 | ) | — | ||||||||||||||||||||
Investments in and advances to non-consolidated affiliates | — | — | 3.4 | 209.7 | 213.1 | — | 213.1 | |||||||||||||||||||||
Restricted cash | — | — | — | 403.6 | 403.6 | — | 403.6 | |||||||||||||||||||||
Deferred charges and other | 7.6 | 301.6 | 202.9 | 186.6 | 389.5 | (5.3 | ) | 693.4 | ||||||||||||||||||||
Intercompany receivables | 325.1 | 1,088.50 | 585.4 | 55 | 640.4 | (2,054.0 | ) | — | ||||||||||||||||||||
Assets held for sale | — | — | 7.3 | 458.7 | 466 | — | 466 | |||||||||||||||||||||
$ | 607.1 | $ | 13,076.10 | $ | 14,554.80 | $ | 12,785.00 | $ | 27,339.80 | $ | (14,926.6 | ) | $ | 26,096.40 | ||||||||||||||
Liabilities and Stockholders’ (Deficit)/Equity | ||||||||||||||||||||||||||||
Current liabilities | ||||||||||||||||||||||||||||
Accounts payable | $ | 1.4 | $ | 102.1 | $ | 133.6 | $ | 134.7 | $ | 268.3 | $ | — | $ | 371.8 | ||||||||||||||
Interest payable | — | 357.3 | 0.7 | 19.7 | 20.4 | — | 377.7 | |||||||||||||||||||||
Accrued expenses | 8 | 239.6 | 385.2 | 548.1 | 933.3 | — | 1,180.90 | |||||||||||||||||||||
Current portion of long-term debt | — | 184.8 | 16.4 | 9 | 25.4 | (43.8 | ) | 166.4 | ||||||||||||||||||||
Intercompany payables | 1.8 | 47.5 | 331.7 | 188.3 | 520 | (569.3 | ) | — | ||||||||||||||||||||
Liabilities held for sale | — | — | — | 0.7 | 0.7 | — | 0.7 | |||||||||||||||||||||
Total current liabilities | 11.2 | 931.3 | 867.6 | 900.5 | 1,768.10 | (613.1 | ) | 2,097.50 | ||||||||||||||||||||
Long-term debt | — | 15,989.40 | 78.5 | 6,079.90 | 6,158.40 | (974.0 | ) | 21,173.80 | ||||||||||||||||||||
Accumulated losses of subsidiaries in excess of investment | 2,082.60 | — | — | — | — | (2,082.6 | ) | — | ||||||||||||||||||||
Deferred credits and other | — | 439 | 148.1 | 152.2 | 300.3 | — | 739.3 | |||||||||||||||||||||
Deferred income taxes | — | (188.1 | ) | 2,049.30 | 1,703.00 | 3,752.30 | (35.9 | ) | 3,528.30 | |||||||||||||||||||
Intercompany payables | 55 | 285.4 | 871.2 | 842.5 | 1,713.70 | (2,054.1 | ) | — | ||||||||||||||||||||
Liabilities held for sale | — | — | — | 54.3 | 54.3 | — | 54.3 | |||||||||||||||||||||
2,148.80 | 17,457.00 | 4,014.70 | 9,732.40 | 13,747.10 | (5,759.7 | ) | 27,593.20 | |||||||||||||||||||||
Total Caesars stockholders’ (deficit)/equity | (1,541.7 | ) | (4,380.9 | ) | 10,540.10 | 2,970.70 | 13,510.80 | (9,166.9 | ) | (1,578.7 | ) | |||||||||||||||||
Noncontrolling interests | — | — | — | 81.9 | 81.9 | — | 81.9 | |||||||||||||||||||||
Total (deficit)/equity | (1,541.7 | ) | (4,380.9 | ) | 10,540.10 | 3,052.60 | 13,592.70 | (9,166.9 | ) | (1,496.8 | ) | |||||||||||||||||
$ | 607.1 | $ | 13,076.10 | $ | 14,554.80 | $ | 12,785.00 | $ | 27,339.80 | $ | (14,926.6 | ) | $ | 26,096.40 | ||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET | ||||||||||||||||||||||||||||
31-Dec-12 | ||||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||
CEC | Subsidiary | Subsidiary Guarantors of Parent and Subsidiary Guaranteed Debt (a) | Subsidiary Non-Guarantors of Parent and Subsidiary Guaranteed Debt (b) | Subsidiary Non-Guarantors of Parent-Only Guaranteed Debt (a) + (b) | Consolidating/ | Total | ||||||||||||||||||||||
(Parent Guarantor) | Issuer | Eliminating | ||||||||||||||||||||||||||
Adjustments | ||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||
Current assets | ||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 7.4 | $ | 911.9 | $ | 353.8 | $ | 484.4 | $ | 838.2 | $ | — | $ | 1,757.50 | ||||||||||||||
Restricted cash | — | — | — | 833.6 | 833.6 | — | 833.6 | |||||||||||||||||||||
Receivables, less allowance for doubtful accounts | 0.1 | 19.5 | 348 | 212.9 | 560.9 | — | 580.5 | |||||||||||||||||||||
Deferred income taxes | — | 17.4 | 75.7 | 21.8 | 97.5 | — | 114.9 | |||||||||||||||||||||
Prepayments and other current assets | 5 | 8.3 | 66.8 | 69.9 | 136.7 | — | 150 | |||||||||||||||||||||
Inventories | — | 0.3 | 31.7 | 20 | 51.7 | — | 52 | |||||||||||||||||||||
Intercompany receivables | 29.6 | 295.5 | 136.8 | 97.2 | 234 | (559.1 | ) | — | ||||||||||||||||||||
Assets held for sale | — | — | — | 5.1 | 5.1 | — | 5.1 | |||||||||||||||||||||
Total current assets | 42.1 | 1,252.90 | 1,012.80 | 1,744.90 | 2,757.70 | (559.1 | ) | 3,493.60 | ||||||||||||||||||||
Property and equipment, net | — | 189.9 | 8,534.60 | 6,977.20 | 15,511.80 | — | 15,701.70 | |||||||||||||||||||||
Goodwill | — | — | 1,331.00 | 1,829.30 | 3,160.30 | — | 3,160.30 | |||||||||||||||||||||
Intangible assets other than goodwill | — | 4.2 | 3,183.00 | 798.5 | 3,981.50 | — | 3,985.70 | |||||||||||||||||||||
Investments in subsidiaries | — | 11,669.60 | 920.3 | 790.7 | 1,711.00 | (13,380.6 | ) | — | ||||||||||||||||||||
Investments in and advances to non-consolidated affiliates | — | — | 3 | 97.4 | 100.4 | — | 100.4 | |||||||||||||||||||||
Restricted cash | — | — | — | 364.6 | 364.6 | — | 364.6 | |||||||||||||||||||||
Deferred charges and other | 7.5 | 298.4 | 184.8 | 236.6 | 421.4 | (6.7 | ) | 720.6 | ||||||||||||||||||||
Intercompany receivables | 563.1 | 1,089.60 | 585.9 | 153.8 | 739.7 | (2,392.4 | ) | — | ||||||||||||||||||||
Assets held for sale | — | — | — | 471.2 | 471.2 | — | 471.2 | |||||||||||||||||||||
$ | 612.7 | $ | 14,504.60 | $ | 15,755.40 | $ | 13,464.20 | $ | 29,219.60 | $ | (16,338.8 | ) | $ | 27,998.10 | ||||||||||||||
Liabilities and Stockholders’ (Deficit)/Equity | ||||||||||||||||||||||||||||
Current liabilities | ||||||||||||||||||||||||||||
Accounts payable | $ | 3.9 | $ | 75.9 | $ | 156.5 | $ | 139.9 | $ | 296.4 | $ | — | $ | 376.2 | ||||||||||||||
Interest payable | — | 176 | 0.4 | 57.3 | 57.7 | — | 233.7 | |||||||||||||||||||||
Accrued expenses | 3.7 | 164.7 | 434.7 | 491.6 | 926.3 | — | 1,094.70 | |||||||||||||||||||||
Current portion of long-term debt | — | 126.2 | 10.7 | 743 | 753.7 | — | 879.9 | |||||||||||||||||||||
Intercompany payables | 15.9 | 88.1 | 284.8 | 170.3 | 455.1 | (559.1 | ) | — | ||||||||||||||||||||
Liabilities held for sale | — | — | — | 3.8 | 3.8 | — | 3.8 | |||||||||||||||||||||
Total current liabilities | 23.5 | 630.9 | 887.1 | 1,605.90 | 2,493.00 | (559.1 | ) | 2,588.30 | ||||||||||||||||||||
Long-term debt | — | 15,257.00 | 64.8 | 6,122.90 | 6,187.70 | (912.5 | ) | 20,532.20 | ||||||||||||||||||||
Accumulated losses of subsidiaries in excess of investment | 925.4 | — | — | — | — | (925.4 | ) | — | ||||||||||||||||||||
Deferred credits and other | 4.1 | 535 | 160.2 | 123.7 | 283.9 | — | 823 | |||||||||||||||||||||
Deferred income taxes | — | 422.6 | 2,188.90 | 1,714.70 | 3,903.60 | 7.9 | 4,334.10 | |||||||||||||||||||||
Intercompany payables | 55 | 614.5 | 871.7 | 851.2 | 1,722.90 | (2,392.4 | ) | — | ||||||||||||||||||||
Liabilities held for sale | — | — | — | 52.1 | 52.1 | — | 52.1 | |||||||||||||||||||||
1,008.00 | 17,460.00 | 4,172.70 | 10,470.50 | 14,643.20 | (4,781.5 | ) | 28,329.70 | |||||||||||||||||||||
Total Caesars stockholders’ (deficit)/equity | (395.3 | ) | (2,955.4 | ) | 11,582.70 | 2,913.60 | 14,496.30 | (11,557.3 | ) | (411.7 | ) | |||||||||||||||||
Noncontrolling interests | — | — | — | 80.1 | 80.1 | — | 80.1 | |||||||||||||||||||||
Total (deficit)/equity | (395.3 | ) | (2,955.4 | ) | 11,582.70 | 2,993.70 | 14,576.40 | (11,557.3 | ) | (331.6 | ) | |||||||||||||||||
$ | 612.7 | $ | 14,504.60 | $ | 15,755.40 | $ | 13,464.20 | $ | 29,219.60 | $ | (16,338.8 | ) | $ | 27,998.10 | ||||||||||||||
Condensed Consolidating Statement of Comprehensive (Loss)/Income | ' | |||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE (LOSS)/INCOME | ||||||||||||||||||||||||||||
FOR THE QUARTER ENDED SEPTEMBER 30, 2013 | ||||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||
CEC | Subsidiary | Subsidiary Guarantors of Parent and Subsidiary Guaranteed Debt (a) | Subsidiary Non-Guarantors of Parent and Subsidiary Guaranteed Debt (b) | Subsidiary Non-Guarantors of Parent-Only Guaranteed Debt (a) + (b) | Consolidating/ | Total | ||||||||||||||||||||||
(Parent Guarantor) | Issuer | Eliminating | ||||||||||||||||||||||||||
Adjustments | ||||||||||||||||||||||||||||
Revenues | ||||||||||||||||||||||||||||
Casino | $ | — | $ | 16.4 | $ | 942.7 | $ | 507.5 | $ | 1,450.20 | $ | — | $ | 1,466.60 | ||||||||||||||
Food and beverage | — | 3.7 | 211.5 | 167.7 | 379.2 | — | 382.9 | |||||||||||||||||||||
Rooms | — | 5 | 165 | 148.5 | 313.5 | — | 318.5 | |||||||||||||||||||||
Management fees | — | 0.3 | 12.5 | 6 | 18.5 | (4.3 | ) | 14.5 | ||||||||||||||||||||
Other | — | 15.9 | 87.3 | 172 | 259.3 | (49.8 | ) | 225.4 | ||||||||||||||||||||
Reimbursable management costs | — | — | 9 | 63.7 | 72.7 | — | 72.7 | |||||||||||||||||||||
Less: casino promotional allowances | — | (5.3 | ) | (182.0 | ) | (113.3 | ) | (295.3 | ) | — | (300.6 | ) | ||||||||||||||||
Net revenues | — | 36 | 1,246.00 | 952.1 | 2,198.10 | (54.1 | ) | 2,180.00 | ||||||||||||||||||||
Operating expenses | ||||||||||||||||||||||||||||
Direct | ||||||||||||||||||||||||||||
Casino | — | 10.1 | 516 | 277.1 | 793.1 | — | 803.2 | |||||||||||||||||||||
Food and beverage | — | 1.6 | 88 | 79.2 | 167.2 | — | 168.8 | |||||||||||||||||||||
Rooms | — | 0.7 | 36.3 | 39.9 | 76.2 | — | 76.9 | |||||||||||||||||||||
Property, general, administrative, and other | — | 11.1 | 309.4 | 272.4 | 581.8 | (44.7 | ) | 548.2 | ||||||||||||||||||||
Reimbursable management costs | — | — | 9 | 63.7 | 72.7 | — | 72.7 | |||||||||||||||||||||
Depreciation and amortization | — | 0.9 | 79.3 | 50 | 129.3 | — | 130.2 | |||||||||||||||||||||
Write-downs, reserves, and project opening costs, net of recoveries | — | 0.1 | 4.4 | (4.0 | ) | 0.4 | — | 0.5 | ||||||||||||||||||||
Intangible and tangible asset impairment charges | — | — | 889.9 | 41 | 930.9 | — | 930.9 | |||||||||||||||||||||
(Income)/loss on interests in non-consolidated affiliates | — | — | (0.1 | ) | 4.1 | 4 | — | 4 | ||||||||||||||||||||
Loss/(income) on interests in subsidiaries | 750.4 | 489.2 | 30.1 | — | 30.1 | (1,269.7 | ) | — | ||||||||||||||||||||
Corporate expense | 6.8 | 18.9 | 8.6 | 12.1 | 20.7 | (9.4 | ) | 37 | ||||||||||||||||||||
Acquisition and integration costs | — | 3.5 | (0.2 | ) | (0.1 | ) | (0.3 | ) | — | 3.2 | ||||||||||||||||||
Amortization of intangible assets | — | 0.2 | 22 | 19.7 | 41.7 | — | 41.9 | |||||||||||||||||||||
Total operating expenses | 757.2 | 536.3 | 1,992.70 | 855.1 | 2,847.80 | (1,323.8 | ) | 2,817.50 | ||||||||||||||||||||
(Loss)/income from operations | (757.2 | ) | (500.3 | ) | (746.7 | ) | 97 | (649.7 | ) | 1,269.70 | (637.5 | ) | ||||||||||||||||
Interest expense, net of interest capitalized | (0.6 | ) | (527.9 | ) | (14.5 | ) | (78.6 | ) | (93.1 | ) | 58.6 | (563.0 | ) | |||||||||||||||
Gain on early extinguishments of debt | — | — | — | 13 | 13 | — | 13 | |||||||||||||||||||||
Other income, including interest income | 3.8 | 19.3 | 5.2 | 43.6 | 48.8 | (71.4 | ) | 0.5 | ||||||||||||||||||||
(Loss)/income from continuing operations before income taxes | (754.0 | ) | (1,008.9 | ) | (756.0 | ) | 75 | (681.0 | ) | 1,256.90 | (1,187.0 | ) | ||||||||||||||||
(Provision)/benefit for income taxes | 1.3 | 186.7 | 257 | (36.1 | ) | 220.9 | 4.5 | 413.4 | ||||||||||||||||||||
Net (loss)/income from continuing operations, net of taxes | (752.7 | ) | (822.2 | ) | (499.0 | ) | 38.9 | (460.1 | ) | 1,261.40 | (773.6 | ) | ||||||||||||||||
Discontinued operations | ||||||||||||||||||||||||||||
Loss from discontinued operations | — | — | — | 14.9 | 14.9 | — | 14.9 | |||||||||||||||||||||
Benefit for income taxes | — | — | (0.1 | ) | (3.0 | ) | (3.1 | ) | — | (3.1 | ) | |||||||||||||||||
Loss from discontinued operations, net of income taxes | — | — | (0.1 | ) | 11.9 | 11.8 | — | 11.8 | ||||||||||||||||||||
Net (loss)/income | (752.7 | ) | (822.2 | ) | (499.1 | ) | 50.8 | (448.3 | ) | 1,261.40 | (761.8 | ) | ||||||||||||||||
Less: net income attributable to noncontrolling interests | — | — | — | 0.4 | 0.4 | — | 0.4 | |||||||||||||||||||||
Net (loss)/income attributable to Caesars | (752.7 | ) | (822.2 | ) | (499.1 | ) | 51.2 | (447.9 | ) | 1,261.40 | (761.4 | ) | ||||||||||||||||
Other comprehensive (loss)/income: | ||||||||||||||||||||||||||||
Total other comprehensive (loss)/income, net of income taxes | — | 18.8 | — | (5.8 | ) | (5.8 | ) | (14.9 | ) | (1.9 | ) | |||||||||||||||||
Less: foreign currency translation adjustments attributable to noncontrolling interests, net of income taxes | — | — | — | — | — | — | — | |||||||||||||||||||||
Comprehensive (loss)/income attributable to Caesars | $ | (752.7 | ) | $ | (803.4 | ) | $ | (499.1 | ) | $ | 45.4 | $ | (453.7 | ) | $ | 1,246.50 | $ | (763.3 | ) | |||||||||
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE (LOSS)/INCOME | ||||||||||||||||||||||||||||
FOR THE QUARTER ENDED SEPTEMBER 30, 2012 | ||||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||
CEC | Subsidiary | Subsidiary Guarantors of Parent and Subsidiary Guaranteed Debt (a) | Subsidiary Non-Guarantors of Parent and Subsidiary Guaranteed Debt (b) | Subsidiary Non-Guarantors of Parent-Only Guaranteed Debt (a) + (b) | Consolidating/ | Total | ||||||||||||||||||||||
(Parent Guarantor) | Issuer | Eliminating | ||||||||||||||||||||||||||
Adjustments | ||||||||||||||||||||||||||||
Revenues | ||||||||||||||||||||||||||||
Casino | $ | — | $ | 16.1 | $ | 981.8 | $ | 580.9 | $ | 1,562.70 | $ | — | $ | 1,578.80 | ||||||||||||||
Food and beverage | — | 3.6 | 211.2 | 174.4 | 385.6 | — | 389.2 | |||||||||||||||||||||
Rooms | — | 5.7 | 164.8 | 141.6 | 306.4 | — | 312.1 | |||||||||||||||||||||
Management fees | — | — | 12.4 | 4.8 | 17.2 | (4.7 | ) | 12.5 | ||||||||||||||||||||
Other | — | 9.8 | 92.2 | 142.3 | 234.5 | (40.8 | ) | 203.5 | ||||||||||||||||||||
Reimbursable management costs | — | — | 7.8 | 14.5 | 22.3 | — | 22.3 | |||||||||||||||||||||
Less: casino promotional allowances | — | (5.8 | ) | (195.2 | ) | (121.6 | ) | (316.8 | ) | — | (322.6 | ) | ||||||||||||||||
Net revenues | — | 29.4 | 1,275.00 | 936.9 | 2,211.90 | (45.5 | ) | 2,195.80 | ||||||||||||||||||||
Operating expenses | ||||||||||||||||||||||||||||
Direct | ||||||||||||||||||||||||||||
Casino | — | 10.1 | 560.6 | 331.5 | 892.1 | — | 902.2 | |||||||||||||||||||||
Food and beverage | — | 1.5 | 85.6 | 82.7 | 168.3 | — | 169.8 | |||||||||||||||||||||
Rooms | — | 0.5 | 35 | 38.8 | 73.8 | — | 74.3 | |||||||||||||||||||||
Property, general, administrative, and other | — | — | 290 | 266.7 | 556.7 | (37.7 | ) | 519 | ||||||||||||||||||||
Reimbursable management costs | — | — | 7.8 | 14.5 | 22.3 | — | 22.3 | |||||||||||||||||||||
Depreciation and amortization | — | 1.7 | 112.4 | 64.7 | 177.1 | — | 178.8 | |||||||||||||||||||||
Write-downs, reserves, and project opening costs, net of recoveries | — | 0.9 | 32.5 | (0.6 | ) | 31.9 | — | 32.8 | ||||||||||||||||||||
Intangible and tangible asset impairment charges | — | — | 416 | 3 | 419 | — | 419 | |||||||||||||||||||||
Loss on interests in non-consolidated affiliates | — | — | (0.2 | ) | (1.3 | ) | (1.5 | ) | — | (1.5 | ) | |||||||||||||||||
Loss/(income) on interests in subsidiaries | 503.9 | 224 | (4.1 | ) | — | (4.1 | ) | (723.8 | ) | — | ||||||||||||||||||
Corporate expense | 6.4 | 34.9 | 8.1 | 10.1 | 18.2 | (7.8 | ) | 51.7 | ||||||||||||||||||||
Acquisition and integration costs | — | 0.2 | — | 0.8 | 0.8 | — | 1 | |||||||||||||||||||||
Amortization of intangible assets | — | 0.2 | 26.3 | 16.7 | 43 | — | 43.2 | |||||||||||||||||||||
Total operating expenses | 510.3 | 274 | 1,570.00 | 827.6 | 2,397.60 | (769.3 | ) | 2,412.60 | ||||||||||||||||||||
(Loss)/income from operations | (510.3 | ) | (244.6 | ) | (295.0 | ) | 109.3 | (185.7 | ) | 723.8 | (216.8 | ) | ||||||||||||||||
Interest expense, net of interest capitalized | (0.4 | ) | (482.0 | ) | (7.2 | ) | (76.9 | ) | (84.1 | ) | 50.7 | (515.8 | ) | |||||||||||||||
Other income, including interest income | 4.3 | 10.7 | 5.3 | 35.1 | 40.4 | (50.7 | ) | 4.7 | ||||||||||||||||||||
(Loss)/income from continuing operations before income taxes | (506.4 | ) | (715.9 | ) | (296.9 | ) | 67.5 | (229.4 | ) | 723.8 | (727.9 | ) | ||||||||||||||||
Benefit/(provision) for income taxes | 0.9 | 171 | 57.5 | (5.1 | ) | 52.4 | 1 | 225.3 | ||||||||||||||||||||
(Loss)/income from continuing operations, net of income taxes | (505.5 | ) | (544.9 | ) | (239.4 | ) | 62.4 | (177.0 | ) | 724.8 | (502.6 | ) | ||||||||||||||||
Discontinued operations | ||||||||||||||||||||||||||||
Income/(loss) from discontinued operations | — | — | 4.6 | (3.8 | ) | 0.8 | — | 0.8 | ||||||||||||||||||||
(Provision)/benefit for income taxes | — | — | (0.8 | ) | 0.2 | (0.6 | ) | (1.0 | ) | (1.6 | ) | |||||||||||||||||
Income/(loss) from discontinued operations, net of income taxes | — | — | 3.8 | (3.6 | ) | 0.2 | (1.0 | ) | (0.8 | ) | ||||||||||||||||||
Net (loss)/income | (505.5 | ) | (544.9 | ) | (235.6 | ) | 58.8 | (176.8 | ) | 723.8 | (503.4 | ) | ||||||||||||||||
Less: net income attributable to noncontrolling interests | — | — | — | (2.1 | ) | (2.1 | ) | — | (2.1 | ) | ||||||||||||||||||
Net (loss)/income attributable to Caesars | (505.5 | ) | (544.9 | ) | (235.6 | ) | 56.7 | (178.9 | ) | 723.8 | (505.5 | ) | ||||||||||||||||
Other comprehensive income/(loss): | ||||||||||||||||||||||||||||
Total other comprehensive income/(loss), net of income taxes | — | 6.8 | — | (8.3 | ) | (8.3 | ) | — | (1.5 | ) | ||||||||||||||||||
Less: foreign currency translation adjustments attributable to noncontrolling interests, net of income taxes | — | — | — | 0.2 | 0.2 | — | 0.2 | |||||||||||||||||||||
Comprehensive (loss)/income attributable to Caesars | $ | (505.5 | ) | $ | (538.1 | ) | $ | (235.6 | ) | $ | 48.6 | $ | (187.0 | ) | $ | 723.8 | $ | (506.8 | ) | |||||||||
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME/(LOSS) | ||||||||||||||||||||||||||||
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2013 | ||||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||
CEC | Subsidiary | Subsidiary Guarantors of Parent and Subsidiary Guaranteed Debt (a) | Subsidiary Non-Guarantors of Parent and Subsidiary Guaranteed Debt (b) | Subsidiary Non-Guarantors of Parent-Only Guaranteed Debt (a) + (b) | Consolidating/ | Total | ||||||||||||||||||||||
(Parent Guarantor) | Issuer | Eliminating | ||||||||||||||||||||||||||
Adjustments | ||||||||||||||||||||||||||||
Revenues | ||||||||||||||||||||||||||||
Casino | $ | — | $ | 44.9 | $ | 2,723.10 | $ | 1,628.80 | $ | 4,351.90 | $ | — | $ | 4,396.80 | ||||||||||||||
Food and beverage | — | 10 | 624.3 | 514.9 | 1,139.20 | — | 1,149.20 | |||||||||||||||||||||
Rooms | — | 13 | 478.5 | 437.5 | 916 | — | 929 | |||||||||||||||||||||
Management fees | — | 0.3 | 43.2 | 17.1 | 60.3 | (18.3 | ) | 42.3 | ||||||||||||||||||||
Other | — | 41.2 | 252.9 | 488.5 | 741.4 | (140.1 | ) | 642.5 | ||||||||||||||||||||
Reimbursable management costs | — | — | 25.3 | 177.9 | 203.2 | — | 203.2 | |||||||||||||||||||||
Less: casino promotional allowances | — | (13.7 | ) | (522.1 | ) | (345.9 | ) | (868.0 | ) | — | (881.7 | ) | ||||||||||||||||
Net revenues | — | 95.7 | 3,625.20 | 2,918.80 | 6,544.00 | (158.4 | ) | 6,481.30 | ||||||||||||||||||||
Operating expenses | ||||||||||||||||||||||||||||
Direct | ||||||||||||||||||||||||||||
Casino | — | 27.9 | 1,553.90 | 875.8 | 2,429.70 | — | 2,457.60 | |||||||||||||||||||||
Food and beverage | — | 4.3 | 260.7 | 238.5 | 499.2 | — | 503.5 | |||||||||||||||||||||
Rooms | — | 1.8 | 111.3 | 119.3 | 230.6 | — | 232.4 | |||||||||||||||||||||
Property, general, administrative, and other | — | 17 | 878.8 | 825.4 | 1,704.20 | (128.4 | ) | 1,592.80 | ||||||||||||||||||||
Reimbursable management costs | — | — | 25.3 | 177.9 | 203.2 | — | 203.2 | |||||||||||||||||||||
Depreciation and amortization | — | 2.9 | 266 | 164.4 | 430.4 | (0.1 | ) | 433.2 | ||||||||||||||||||||
Write-downs, reserves, and project opening costs, net of recoveries | — | 0.5 | 26 | 18.2 | 44.2 | — | 44.7 | |||||||||||||||||||||
Intangible and tangible asset impairment charges | — | — | 990.2 | 65.4 | 1,055.60 | — | 1,055.60 | |||||||||||||||||||||
Income on interests in non-consolidated affiliates | — | — | (0.5 | ) | 20.9 | 20.4 | — | 20.4 | ||||||||||||||||||||
Loss/(income) on interests in subsidiaries | 1,178.90 | 312.9 | 23.2 | — | 23.2 | (1,515.0 | ) | — | ||||||||||||||||||||
Corporate expense | 14.7 | 74.9 | 17.2 | 37.4 | 54.6 | (29.9 | ) | 114.3 | ||||||||||||||||||||
Acquisition and integration costs | — | 20 | 0.1 | 49.5 | 49.6 | — | 69.6 | |||||||||||||||||||||
Amortization of intangible assets | — | 0.5 | 66.3 | 57.6 | 123.9 | — | 124.4 | |||||||||||||||||||||
Total operating expenses | 1,193.60 | 462.7 | 4,218.50 | 2,650.30 | 6,868.80 | (1,673.4 | ) | 6,851.70 | ||||||||||||||||||||
(Loss)/income from operations | (1,193.6 | ) | (367.0 | ) | (593.3 | ) | 268.5 | (324.8 | ) | 1,515.00 | (370.4 | ) | ||||||||||||||||
Interest expense, net of interest capitalized | 2.9 | (1,542.6 | ) | (43.7 | ) | (265.0 | ) | (308.7 | ) | 170.7 | (1,677.7 | ) | ||||||||||||||||
Gains on early extinguishments of debt | — | (29.4 | ) | — | 46.9 | 46.9 | — | 17.5 | ||||||||||||||||||||
Gain on partial sale of subsidiary | — | — | (8.9 | ) | 53 | 44.1 | — | 44.1 | ||||||||||||||||||||
Other income, including interest income | 19.9 | 49.1 | 15.2 | 134.9 | 150.1 | (210.2 | ) | 8.9 | ||||||||||||||||||||
(Loss)/income from continuing operations before income taxes | (1,170.8 | ) | (1,889.9 | ) | (630.7 | ) | 238.3 | (392.4 | ) | 1,475.50 | (1,977.6 | ) | ||||||||||||||||
Benefit/(provision) for income taxes | — | 559.9 | 315.1 | (66.7 | ) | 248.4 | 11 | 819.3 | ||||||||||||||||||||
Net (loss)/income from continuing operations, net of taxes | (1,170.8 | ) | (1,330.0 | ) | (315.6 | ) | 171.6 | (144.0 | ) | 1,486.50 | (1,158.3 | ) | ||||||||||||||||
Discontinued operations | ||||||||||||||||||||||||||||
Income from discontinued operations | — | — | (0.8 | ) | (28.5 | ) | (29.3 | ) | — | (29.3 | ) | |||||||||||||||||
Provision for income taxes | — | — | 0.3 | (0.5 | ) | (0.2 | ) | — | (0.2 | ) | ||||||||||||||||||
Income from discontinued operations, net of income taxes | — | — | (0.5 | ) | (29.0 | ) | (29.5 | ) | — | (29.5 | ) | |||||||||||||||||
Net (loss)/income | (1,170.8 | ) | (1,330.0 | ) | (316.1 | ) | 142.6 | (173.5 | ) | 1,486.50 | (1,187.8 | ) | ||||||||||||||||
Less: net income attributable to noncontrolling interests | — | — | — | (3.5 | ) | (3.5 | ) | — | (3.5 | ) | ||||||||||||||||||
Net (loss)/income attributable to Caesars | (1,170.8 | ) | (1,330.0 | ) | (316.1 | ) | 139.1 | (177.0 | ) | 1,486.50 | (1,191.3 | ) | ||||||||||||||||
Other comprehensive (loss)/income: | ||||||||||||||||||||||||||||
Total other comprehensive (loss)/income, net of income taxes | — | 5.9 | — | (10.8 | ) | (10.8 | ) | (19.9 | ) | (24.8 | ) | |||||||||||||||||
Less: foreign currency translation adjustments attributable to noncontrolling interests, net of income taxes | — | — | — | 0.1 | 0.1 | — | 0.1 | |||||||||||||||||||||
Comprehensive (loss)/income attributable to Caesars | $ | (1,170.8 | ) | $ | (1,324.1 | ) | $ | (316.1 | ) | $ | 128.4 | $ | (187.7 | ) | $ | 1,466.60 | $ | (1,216.0 | ) | |||||||||
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE (LOSS)/INCOME | ||||||||||||||||||||||||||||
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2012 | ||||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||
CEC | Subsidiary | Subsidiary Guarantors of Parent and Subsidiary Guaranteed Debt (a) | Subsidiary Non-Guarantors of Parent and Subsidiary Guaranteed Debt (b) | Subsidiary Non-Guarantors of Parent-Only Guaranteed Debt (a) + (b) | Consolidating/ | Total | ||||||||||||||||||||||
(Parent Guarantor) | Issuer | Eliminating | ||||||||||||||||||||||||||
Adjustments | ||||||||||||||||||||||||||||
Revenues | ||||||||||||||||||||||||||||
Casino | $ | — | $ | 41.7 | $ | 2,948.60 | $ | 1,765.40 | $ | 4,714.00 | $ | — | $ | 4,755.70 | ||||||||||||||
Food and beverage | — | 9.6 | 624.5 | 522.5 | 1,147.00 | — | 1,156.60 | |||||||||||||||||||||
Rooms | — | 14.2 | 485.7 | 432.4 | 918.1 | — | 932.3 | |||||||||||||||||||||
Management fees | — | 2.2 | 42.4 | 7.8 | 50.2 | (18.0 | ) | 34.4 | ||||||||||||||||||||
Other | — | 30.1 | 270 | 406.3 | 676.3 | (125.9 | ) | 580.5 | ||||||||||||||||||||
Reimbursable management costs | — | — | 21 | 22.5 | 43.5 | — | 43.5 | |||||||||||||||||||||
Less: casino promotional allowances | — | (14.8 | ) | (559.4 | ) | (363.2 | ) | (922.6 | ) | — | (937.4 | ) | ||||||||||||||||
Net revenues | — | 83 | 3,832.80 | 2,793.70 | 6,626.50 | (143.9 | ) | 6,565.60 | ||||||||||||||||||||
Operating expenses | ||||||||||||||||||||||||||||
Direct | ||||||||||||||||||||||||||||
Casino | — | 28 | 1,692.40 | 1,004.70 | 2,697.10 | — | 2,725.10 | |||||||||||||||||||||
Food and beverage | — | 4.6 | 251.7 | 245 | 496.7 | — | 501.3 | |||||||||||||||||||||
Rooms | — | 1.3 | 109.1 | 119.7 | 228.8 | — | 230.1 | |||||||||||||||||||||
Property, general, administrative, and other | — | 12.2 | 851.6 | 784.7 | 1,636.30 | (119.0 | ) | 1,529.50 | ||||||||||||||||||||
Reimbursable management costs | — | — | 21 | 22.5 | 43.5 | — | 43.5 | |||||||||||||||||||||
Depreciation and amortization | — | 5.1 | 330.8 | 197.9 | 528.7 | — | 533.8 | |||||||||||||||||||||
Write-downs, reserves, and project opening costs, net of recoveries | — | 5.5 | 48.3 | 3.1 | 51.4 | — | 56.9 | |||||||||||||||||||||
Intangible and tangible asset impairment charges | — | — | 616.5 | 9.5 | 626 | — | 626 | |||||||||||||||||||||
Loss on interests in non-consolidated affiliates | — | — | 0.6 | 8.2 | 8.8 | — | 8.8 | |||||||||||||||||||||
Loss/(income) on interests in subsidiaries | 1,024.20 | 219 | 0.8 | — | 0.8 | (1,244.0 | ) | — | ||||||||||||||||||||
Corporate expense | 18.5 | 98.4 | 21.9 | 31.3 | 53.2 | (24.9 | ) | 145.2 | ||||||||||||||||||||
Acquisition and integration costs | — | 0.9 | — | 1.3 | 1.3 | — | 2.2 | |||||||||||||||||||||
Amortization of intangible assets | — | 0.5 | 75.9 | 53.2 | 129.1 | — | 129.6 | |||||||||||||||||||||
Total operating expenses | 1,042.70 | 375.5 | 4,020.60 | 2,481.10 | 6,501.70 | (1,387.9 | ) | 6,532.00 | ||||||||||||||||||||
(Loss)/income from operations | (1,042.7 | ) | (292.5 | ) | (187.8 | ) | 312.6 | 124.8 | 1,244.00 | 33.6 | ||||||||||||||||||
Interest expense, net of interest capitalized | (0.4 | ) | (1,452.9 | ) | (21.8 | ) | (248.7 | ) | (270.5 | ) | 149.5 | (1,574.3 | ) | |||||||||||||||
Gains on early extinguishments of debt | — | — | — | 79.5 | 79.5 | — | 79.5 | |||||||||||||||||||||
Other income, including interest income | 13.3 | 40 | 16.1 | 99.5 | 115.6 | (149.5 | ) | 19.4 | ||||||||||||||||||||
(Loss)/income from continuing operations before income taxes | (1,029.8 | ) | (1,705.4 | ) | (193.5 | ) | 242.9 | 49.4 | 1,244.00 | (1,441.8 | ) | |||||||||||||||||
Benefit/(provision) for income taxes | 2 | 525.1 | 18.2 | (65.5 | ) | (47.3 | ) | 9.7 | 489.5 | |||||||||||||||||||
(Loss)/income from continuing operations, net of income taxes | (1,027.8 | ) | (1,180.3 | ) | (175.3 | ) | 177.4 | 2.1 | 1,253.70 | (952.3 | ) | |||||||||||||||||
Discontinued operations | ||||||||||||||||||||||||||||
Income/(loss) from discontinued operations | — | — | 46.5 | (115.9 | ) | (69.4 | ) | — | (69.4 | ) | ||||||||||||||||||
(Provision)/benefit for income taxes | — | — | (8.3 | ) | 13.4 | 5.1 | (9.7 | ) | (4.6 | ) | ||||||||||||||||||
Income/(loss) from discontinued operations, net of income taxes | — | — | 38.2 | (102.5 | ) | (64.3 | ) | (9.7 | ) | (74.0 | ) | |||||||||||||||||
Net (loss)/income | (1,027.8 | ) | (1,180.3 | ) | (137.1 | ) | 74.9 | (62.2 | ) | 1,244.00 | (1,026.3 | ) | ||||||||||||||||
Less: net income attributable to noncontrolling interests | — | — | — | (1.5 | ) | (1.5 | ) | — | (1.5 | ) | ||||||||||||||||||
Net (loss)/income attributable to Caesars | (1,027.8 | ) | (1,180.3 | ) | (137.1 | ) | 73.4 | (63.7 | ) | 1,244.00 | (1,027.8 | ) | ||||||||||||||||
Other comprehensive (loss)/income: | ||||||||||||||||||||||||||||
Total other comprehensive (loss)/income, net of income taxes | — | (19.0 | ) | — | 29.7 | 29.7 | — | 10.7 | ||||||||||||||||||||
Less: foreign currency translation adjustments attributable to noncontrolling interests, net of income taxes | — | — | — | (1.3 | ) | (1.3 | ) | — | (1.3 | ) | ||||||||||||||||||
Comprehensive (loss)/income attributable to Caesars | $ | (1,027.8 | ) | $ | (1,199.3 | ) | $ | (137.1 | ) | $ | 101.8 | $ | (35.3 | ) | $ | 1,244.00 | $ | (1,018.4 | ) | |||||||||
Condensed Consolidating Statement of Cash Flows | ' | |||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | ||||||||||||||||||||||||||||
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2013 | ||||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||
CEC | Subsidiary | Subsidiary Guarantors of Parent and Subsidiary Guaranteed Debt (a) | Subsidiary Non-Guarantors of Parent and Subsidiary Guaranteed Debt (b) | Subsidiary Non-Guarantors of Parent-Only Guaranteed Debt (a) + (b) | Consolidating/ | Total | ||||||||||||||||||||||
(Parent Guarantor) | Issuer | Eliminating | ||||||||||||||||||||||||||
Adjustments | ||||||||||||||||||||||||||||
Cash flows provided by/(used in) operating activities | $ | 313.8 | $ | (520.9 | ) | $ | 160.6 | $ | 34.7 | $ | 195.3 | $ | 0.8 | $ | (11.0 | ) | ||||||||||||
Cash flows from investing activities | ||||||||||||||||||||||||||||
Acquisitions of property and equipment, net of change in related payables | — | (7.6 | ) | (233.9 | ) | (225.2 | ) | (459.1 | ) | — | (466.7 | ) | ||||||||||||||||
Change in restricted cash | (30.5 | ) | — | (1.0 | ) | 702.7 | 701.7 | — | 671.2 | |||||||||||||||||||
Payments to acquire businesses, net of transaction costs and cash acquired | — | — | — | (8.6 | ) | (8.6 | ) | — | (8.6 | ) | ||||||||||||||||||
Proceeds from partial sale of a subsidiary, net of cash deconsolidated | — | — | (25.7 | ) | 76.1 | 50.4 | — | 50.4 | ||||||||||||||||||||
Investments in/advances to non-consolidated affiliates | — | — | — | (36.2 | ) | (36.2 | ) | — | (36.2 | ) | ||||||||||||||||||
Purchase of additional interests in subsidiaries | (321.8 | ) | (15.8 | ) | — | — | — | 337.6 | — | |||||||||||||||||||
Dividends received | — | 48.4 | 74.2 | — | 74.2 | (122.6 | ) | — | ||||||||||||||||||||
Purchases of investment securities | — | — | — | (26.7 | ) | (26.7 | ) | — | (26.7 | ) | ||||||||||||||||||
Proceeds from the sale and maturity of investment securities | — | — | — | 55.8 | 55.8 | — | 55.8 | |||||||||||||||||||||
Other | (0.2 | ) | — | (2.4 | ) | (11.5 | ) | (13.9 | ) | — | (14.1 | ) | ||||||||||||||||
Cash flows (used in)/provided by investing activities | (352.5 | ) | 25 | (188.8 | ) | 526.4 | 337.6 | 215 | 225.1 | |||||||||||||||||||
Cash flows from financing activities | ||||||||||||||||||||||||||||
Proceeds from the issuance of long-term debt | — | 127.2 | — | 1,680.90 | 1,680.90 | — | 1,808.10 | |||||||||||||||||||||
Assumption of debt issued by non-guarantors | — | 2,199.40 | — | (2,199.4 | ) | (2,199.4 | ) | — | — | |||||||||||||||||||
Debt issuance costs and fees | — | (49.8 | ) | — | (8.0 | ) | (8.0 | ) | — | (57.8 | ) | |||||||||||||||||
Borrowings under lending agreements | — | — | — | — | — | — | — | |||||||||||||||||||||
Purchase of additional interests in subsidiary | — | — | — | (9.9 | ) | (9.9 | ) | — | (9.9 | ) | ||||||||||||||||||
Cash paid for early extinguishments of debt | — | (1,783.3 | ) | — | (284.5 | ) | (284.5 | ) | — | (2,067.8 | ) | |||||||||||||||||
Cash paid for loan maturity extension fees | — | — | — | (23.3 | ) | (23.3 | ) | — | (23.3 | ) | ||||||||||||||||||
Scheduled debt retirements | — | (8.1 | ) | (1.5 | ) | — | (1.5 | ) | — | (9.6 | ) | |||||||||||||||||
Dividends paid | — | — | (48.4 | ) | (74.2 | ) | (122.6 | ) | 122.6 | — | ||||||||||||||||||
Contributions from noncontrolling interest owners | — | — | — | 35.3 | 35.3 | — | 35.3 | |||||||||||||||||||||
Issuance of common stock, net of fees | 16.2 | — | — | — | — | — | 16.2 | |||||||||||||||||||||
Other | — | — | (6.2 | ) | (14.9 | ) | (21.1 | ) | — | (21.1 | ) | |||||||||||||||||
Transfers from/(to) affiliates | 238 | (229.9 | ) | (0.1 | ) | 330.4 | 330.3 | (338.4 | ) | — | ||||||||||||||||||
Cash flows provided by/(used in) financing activities | 254.2 | 255.5 | (56.2 | ) | (567.6 | ) | (623.8 | ) | (215.8 | ) | (329.9 | ) | ||||||||||||||||
Cash flows from discontinued operations | ||||||||||||||||||||||||||||
Cash flows from operating activities | — | — | (0.5 | ) | 1.2 | 0.7 | — | 0.7 | ||||||||||||||||||||
Cash flows from investing activities | — | — | — | 65.7 | 65.7 | — | 65.7 | |||||||||||||||||||||
Net cash (used in)/provided by discontinued operations | — | — | (0.5 | ) | 66.9 | 66.4 | — | 66.4 | ||||||||||||||||||||
Net increase/(decrease) in cash and cash equivalents | 215.5 | (240.4 | ) | (84.9 | ) | 60.4 | (24.5 | ) | — | (49.4 | ) | |||||||||||||||||
Change in cash classified as assets held for sale | — | — | — | (0.2 | ) | (0.2 | ) | — | (0.2 | ) | ||||||||||||||||||
Cash and cash equivalents, beginning of period | 7.4 | 911.9 | 353.8 | 484.4 | 838.2 | — | 1,757.50 | |||||||||||||||||||||
Cash and cash equivalents, end of period | $ | 222.9 | $ | 671.5 | $ | 268.9 | $ | 544.6 | $ | 813.5 | $ | — | $ | 1,707.90 | ||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | ||||||||||||||||||||||||||||
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2012 | ||||||||||||||||||||||||||||
(In millions) | ||||||||||||||||||||||||||||
CEC | Subsidiary | Subsidiary Guarantors of Parent and Subsidiary Guaranteed Debt (a) | Subsidiary Non-Guarantors of Parent and Subsidiary Guaranteed Debt (b) | Subsidiary Non-Guarantors of Parent-Only Guaranteed Debt (a) + (b) | Consolidating/ | Total | ||||||||||||||||||||||
(Parent Guarantor) | Issuer | Eliminating | ||||||||||||||||||||||||||
Adjustments | ||||||||||||||||||||||||||||
Cash flows provided by/(used in) operating activities | $ | 262.5 | $ | 53.8 | $ | (82.7 | ) | $ | 14.1 | $ | (68.6 | ) | $ | 9.7 | $ | 257.4 | ||||||||||||
Cash flows from investing activities | ||||||||||||||||||||||||||||
Acquisitions of property and equipment, net of change in related payables | — | (0.7 | ) | (104.6 | ) | (198.1 | ) | (302.7 | ) | — | (303.4 | ) | ||||||||||||||||
Change in restricted cash | — | — | — | (551.0 | ) | (551.0 | ) | — | (551.0 | ) | ||||||||||||||||||
Cash received in conjunction with the sale of a subsidiary, net of cash contributed | — | — | — | 42.4 | 42.4 | — | 42.4 | |||||||||||||||||||||
Payments to acquire businesses, net of transaction costs and cash acquired | — | — | — | 7.7 | 7.7 | — | 7.7 | |||||||||||||||||||||
Investments in/advances to non-consolidated affiliates | — | — | — | (22.8 | ) | (22.8 | ) | — | (22.8 | ) | ||||||||||||||||||
Return of investment in subsidiary | — | — | 92.5 | — | 92.5 | (92.5 | ) | — | ||||||||||||||||||||
Purchase of additional interests in subsidiaries | (127.7 | ) | (22.8 | ) | — | — | — | 150.5 | — | |||||||||||||||||||
Purchases of investment securities | — | — | — | (36.0 | ) | (36.0 | ) | — | (36.0 | ) | ||||||||||||||||||
Proceeds from the sale and maturity of investment securities | — | — | — | 27 | 27 | — | 27 | |||||||||||||||||||||
Other | (0.6 | ) | — | (8.0 | ) | 2.3 | (5.7 | ) | — | (6.3 | ) | |||||||||||||||||
Cash flows (used in)/provided by investing activities | (128.3 | ) | (23.5 | ) | (20.1 | ) | (728.5 | ) | (748.6 | ) | 58 | (842.4 | ) | |||||||||||||||
Cash flows from financing activities | ||||||||||||||||||||||||||||
Proceeds from the issuance of long-term debt | — | 110.9 | — | 2,358.50 | 2,358.50 | — | 2,469.40 | |||||||||||||||||||||
Assumption of debt by non-guarantors | — | 1,250.00 | — | (1,250.0 | ) | (1,250.0 | ) | — | — | |||||||||||||||||||
Debt issuance costs and fees | — | (24.7 | ) | — | (7.2 | ) | (7.2 | ) | — | (31.9 | ) | |||||||||||||||||
Borrowings under lending agreements | — | 453 | — | — | — | — | 453 | |||||||||||||||||||||
Repayments under lending agreements | — | (608.0 | ) | — | — | — | — | (608.0 | ) | |||||||||||||||||||
Cash paid for early extinguishments of debt | — | (1,095.6 | ) | — | (355.0 | ) | (355.0 | ) | — | (1,450.6 | ) | |||||||||||||||||
Scheduled debt retirements | — | (11.3 | ) | (1.4 | ) | — | (1.4 | ) | — | (12.7 | ) | |||||||||||||||||
Purchase of additional interests in subsidiary | — | — | (9.6 | ) | — | (9.6 | ) | — | (9.6 | ) | ||||||||||||||||||
Proceeds from sale of additional interest in a subsidiary | — | — | — | 32.2 | 32.2 | — | 32.2 | |||||||||||||||||||||
Issuance of common stock, net of fees | 17.4 | — | — | — | — | — | 17.4 | |||||||||||||||||||||
Other | — | — | (8.2 | ) | (1.0 | ) | (9.2 | ) | — | (9.2 | ) | |||||||||||||||||
Transfer (to)/from affiliates | (136.2 | ) | 308.8 | 0.1 | (114.7 | ) | (114.6 | ) | (58.0 | ) | — | |||||||||||||||||
Cash flows (used in)/provided by financing activities | (118.8 | ) | 383.1 | (19.1 | ) | 662.8 | 643.7 | (58.0 | ) | 850 | ||||||||||||||||||
Cash flows from discontinued operations | ||||||||||||||||||||||||||||
Cash flows from operating activities | — | — | 39.9 | (0.9 | ) | 39 | (9.7 | ) | 29.3 | |||||||||||||||||||
Cash flows from investing activities | — | — | (2.3 | ) | (0.6 | ) | (2.9 | ) | — | (2.9 | ) | |||||||||||||||||
Net cash provided by/(used in) discontinued operations | — | — | 37.6 | (1.5 | ) | 36.1 | (9.7 | ) | 26.4 | |||||||||||||||||||
Net increase/(decrease) in cash and cash equivalents | 15.4 | 413.4 | (84.3 | ) | (53.1 | ) | (137.4 | ) | — | 291.4 | ||||||||||||||||||
Change in cash classified as assets held for sale | — | — | 1.6 | 0.9 | 2.5 | — | 2.5 | |||||||||||||||||||||
Cash and cash equivalents, beginning of period | 3.9 | 16.6 | 372.5 | 498.2 | 870.7 | — | 891.2 | |||||||||||||||||||||
Cash and cash equivalents, end of period | $ | 19.3 | $ | 430 | $ | 289.8 | $ | 446 | $ | 735.8 | $ | — | $ | 1,185.10 | ||||||||||||||
Organization_and_Basis_of_Pres2
Organization and Basis of Presentation (Details) | 9 Months Ended |
Sep. 30, 2013 | |
business_segments | |
States | |
Country | |
Casinos | |
Organization [Abstract] | ' |
Number of casinos operated or managed | 52 |
Number of states in U.S where company operates | 13 |
Number of countries in which company operates | 6 |
Number of land based casinos operated or managed | 20 |
Number of riverboat or dockside casinos operated or managed | 10 |
Number of casino combined with greyhound racetrack | 1 |
Number of casino combined with thoroughbred racetrack | 1 |
Number of casino combined with harness racetrack | 1 |
Reportable Segments | 1 |
United States [Member] | ' |
Organization [Abstract] | ' |
Number of casinos operated or managed | 39 |
Indian lands [Member] | ' |
Organization [Abstract] | ' |
Number of casinos operated or managed | 3 |
Ohio [Member] | ' |
Organization [Abstract] | ' |
Number of casinos operated or managed | 3 |
International [Member] | ' |
Organization [Abstract] | ' |
Number of casinos operated or managed | 13 |
Canada [Member] | ' |
Organization [Abstract] | ' |
Number of casinos operated or managed | 1 |
England [Member] | ' |
Organization [Abstract] | ' |
Number of land based casinos operated or managed | 8 |
Egypt [Member] | ' |
Organization [Abstract] | ' |
Number of land based casinos operated or managed | 2 |
Scotland [Member] | ' |
Organization [Abstract] | ' |
Number of land based casinos operated or managed | 1 |
South Africa [Member] | ' |
Organization [Abstract] | ' |
Number of land based casinos operated or managed | 1 |
Acquisitions_Investments_Dispo2
Acquisitions, Investments, Dispositions and Divestitures - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 0 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | 3 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 3 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Nov. 02, 2012 | Mar. 31, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | Aug. 06, 2013 | Sep. 30, 2013 | Aug. 08, 2013 | Aug. 07, 2013 | Mar. 31, 2013 | Mar. 31, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | Mar. 31, 2013 | Jun. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | 31-May-13 | Jun. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 |
Harrahs St. Louis [Member] | Harrahs St. Louis [Member] | Bubbler Media [Member] | Buffalo Studios, LLC [Member] | Buffalo Studios, LLC [Member] | Buffalo Studios, LLC [Member] | Buffalo Studios, LLC [Member] | Alea Leeds Casino [Member] | Alea Leeds Casino [Member] | Alea Leeds Casino [Member] | Macau [Member] | Macau [Member] | Macau [Member] | Macau [Member] | Non-cancellable Contract Costs [Member] | Employment Related Costs [Member] | Other Business Exit Costs [Member] | Assets Held-for-sale [Member] | Assets Held-for-sale [Member] | Assets Held-for-sale [Member] | Enjoy S.A. [Member] | Enjoy S.A. [Member] | Enjoy S.A. [Member] | Enjoy S.A. [Member] | Discontinued Operations [Member] | New Jersey Casino Reinvestment Development Authority (CRDA) [Member] | Land [Member] | |||||
Caesars Interactive Entertainment [Member] | Caesars Interactive Entertainment [Member] | Caesars Interactive Entertainment [Member] | Caesars Interactive Entertainment [Member] | Caesars Interactive Entertainment [Member] | Alea Leeds Casino [Member] | Alea Leeds Casino [Member] | Alea Leeds Casino [Member] | Macau [Member] | Macau [Member] | Macau [Member] | Conrad Punta Del Este Resort and Casino [Member] | Conrad Punta Del Este Resort and Casino [Member] | Conrad Punta Del Este Resort and Casino [Member] | Conrad Punta Del Este Resort and Casino [Member] | Assets Held-for-sale [Member] | New Jersey Casino Reinvestment Development Authority (CRDA) [Member] | |||||||||||||||
Baluma S.A. [Member] | Baluma S.A. [Member] | Baluma S.A. [Member] | Macau [Member] | ||||||||||||||||||||||||||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consideration given | ' | ' | ' | ' | ' | ' | $7.50 | $45.20 | ' | ' | ' | ' | ' | ' | $438 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of earnout payment | ' | ' | ' | ' | ' | ' | ' | 5.6 | 54.5 | 58 | 54.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition and integration costs | 3.2 | 1 | 69.6 | 2.2 | ' | ' | ' | ' | ' | 52.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reduction in earnout accrual | ' | ' | ' | ' | ' | ' | ' | ' | -3.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assets acquired | ' | ' | ' | ' | ' | ' | ' | 52.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Liabilities assumed | ' | ' | ' | ' | ' | ' | ' | 7.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of voting interests sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 45.00% | ' | ' | ' |
Consideration for partial sale of subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 139.5 | ' | ' | ' |
Net proceeds from partial sale of subsidiary | ' | ' | 0 | 42.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.4 | ' | ' | ' | ' |
Cash deconsolidated | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 29.7 | ' | ' | ' | ' |
Dispositions, Equity Received in Acquiring Company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.50% | ' | ' | ' | ' | ' | ' |
Deferred cash payment on partial sale of subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31.9 | 31.9 | ' | ' | ' | ' |
Unrealized losses on available-for-sale securities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.7 | 3.6 | ' | ' | ' | ' |
Write-down of tangible and intangible assets | 930.9 | 419 | 1,055.60 | 626 | ' | ' | ' | ' | ' | ' | ' | ' | 5.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exit costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15.8 | ' | ' | ' | ' | ' | 15.1 | 0.5 | 0.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exit costs paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.5 | ' | 1.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accreted interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.5 | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase in interest payable | ' | ' | 145.2 | 155.9 | ' | ' | ' | ' | ' | ' | ' | 1 | ' | 1.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exit costs accrued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16.5 | ' | 16.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain on sale of discontinued operations | ' | ' | ' | ' | 9.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Adjustment to gain on sale of discontinued operations | ' | ' | ' | ' | ' | 0.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Remaining term of land concession | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '35 years | ' | ' | ' | ' | ' | ' | ' |
Tangible asset impairment charges | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 101 | ' | ' |
Adjustment to fair value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15.2 | 21 | ' | ' | ' | ' | ' | ' | ' | ' |
Down payment for sale of equity interests in subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional down payment for sale of equity interests in subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 43.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Issuance or Sale of Equity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 420 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Asset held for sale | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.3 |
Investment alternative tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.25% | ' |
Credit against future investment alternative tax payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $7.30 | ' |
Acquisitions_Investments_Dispo3
Acquisitions, Investments, Dispositions and Divestitures - Components of Assets and Liabilities Held for Sale (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Assets | ' | ' |
Assets held for sale, current | $5.40 | $5.10 |
Liabilities | ' | ' |
Liabilities held for sale, current | 0.7 | 3.8 |
Macau and Marketplace Parcels in Atlantic City [Member] | ' | ' |
Assets | ' | ' |
Cash and cash equivalents | 4.9 | 4.7 |
Other current assets | 0.5 | 0.4 |
Assets held for sale, current | 5.4 | 5.1 |
Property and equipment, net | 466 | 471.2 |
Assets held for sale, non-current | 466 | 471.2 |
Liabilities | ' | ' |
Accounts payable and accrued expenses | 0.7 | 3.8 |
Liabilities held for sale, current | 0.7 | 3.8 |
Deferred credits and other | 2.5 | 0.2 |
Deferred income taxes | 51.8 | 51.9 |
Liabilities held for sale, non-current | $54.30 | $52.10 |
Acquisitions_Investments_Dispo4
Acquisitions, Investments, Dispositions and Divestitures - Income from Discontinued Operations (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' |
Net revenues | $0.70 | $63.40 | $3.20 | $196.20 |
Pre-tax income/(loss) from operations | 14.9 | 0.8 | -29.3 | -69.4 |
Income/(loss), net of income taxes | 11.8 | -0.8 | -29.5 | -74 |
Harrahs St. Louis [Member] | ' | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' |
Net revenues | 0 | 60.8 | 0 | 189.3 |
Pre-tax income/(loss) from operations | 0 | 4.6 | -0.7 | 46.5 |
Income/(loss), net of income taxes | -0.1 | 2.8 | -0.5 | 28.5 |
Macau [Member] | ' | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' |
Net revenues | 0.7 | 1 | 2.5 | 2.6 |
Pre-tax income/(loss) from operations | 15.3 | -2.8 | -5.2 | -112.4 |
Income/(loss), net of income taxes | 12.3 | -2.6 | -5.6 | -99 |
Alea Leeds [Member] | ' | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' |
Net revenues | 0 | 1.6 | 0.7 | 4.3 |
Pre-tax income/(loss) from operations | -0.4 | -1 | -23.4 | -3.5 |
Income/(loss), net of income taxes | ($0.40) | ($1) | ($23.40) | ($3.50) |
Caesars_Growth_Partners_Transa1
Caesars Growth Partners Transaction (Details) | 9 Months Ended |
Sep. 30, 2013 | |
Equity Method Investments and Joint Ventures [Abstract] | ' |
Anniversary of the closing of the transaction | '8 years 6 months |
Restricted_Cash_Details
Restricted Cash (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Senior Notes with Maturity of 2020 Two [Member] | ||
Restricted Cash and Cash Equivalents Items [Line Items] | ' | ' |
Debt Instrument, Face Value | $23,847,100,000 | $750,000,000 |
Debt Instrument, Interest Rate | ' | 9.00% |
Property_and_Equipment_net_Det
Property and Equipment, net (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Property, Plant and Equipment [Abstract] | ' | ' |
Land and land improvements | $6,810.30 | $7,208.80 |
Buildings, riverboats, and improvements | 8,102.90 | 8,725.70 |
Furniture, fixtures, and equipment | 2,530.70 | 2,491 |
Construction in progress | 694.8 | 378.3 |
Total, Gross | 18,138.70 | 18,803.80 |
Less: accumulated depreciation | -3,222.30 | -3,102.10 |
Property and equipment, net | $14,916.40 | $15,701.70 |
Property_and_Equipment_net_Dep
Property and Equipment, net - Depreciation Expense (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Property, Plant and Equipment [Abstract] | ' | ' | ' | ' |
Depreciation expense | $131.70 | $188.20 | $438.10 | $571.80 |
Property_and_Equipment_net_Add
Property and Equipment, net - Additional Information (Detail) (USD $) | 1 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
Atlantic City [Member] | Mississippi [Member] | Harrahs Tunica [Member] | New Jersey Casino Reinvestment Development Authority (CRDA) [Member] | New Jersey Casino Reinvestment Development Authority (CRDA) [Member] | Land [Member] | |
New Jersey Casino Reinvestment Development Authority (CRDA) [Member] | ||||||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' |
Tangible asset impairment charges | $477.10 | $79.30 | $112.30 | $22.40 | ' | ' |
Asset held for sale | ' | ' | ' | ' | ' | 7.3 |
Impairment of land held for sale | ' | ' | ' | ' | $21.70 | ' |
Goodwill_and_Other_Intangible_2
Goodwill and Other Intangible Assets - Changes in Goodwill and Other Intangible Assets (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 3 Months Ended | |||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 |
Trademarks [Member] | Trademarks [Member] | Gaming Rights [Member] | Gaming Rights [Member] | Gaming Rights [Member] | Atlantic City [Member] | Baluma S.A. [Member] | |||||
Conrad Punta Del Este Resort and Casino [Member] | |||||||||||
Goodwill and Other Intangible Assets [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortizing Intangible Assets, Beginning Balance | ' | ' | $1,027.60 | ' | ' | ' | ' | ' | ' | ' | ' |
Amortizing Intangible Assets, Impairments | ' | ' | -11.4 | ' | ' | ' | ' | ' | ' | -11.4 | ' |
Amortizing Intangible Assets, Amortization expense | -41.9 | -43.2 | -124.4 | -129.6 | ' | ' | ' | ' | ' | ' | ' |
Amortizing Intangible Assets, Foreign currency translation | ' | ' | -0.1 | ' | ' | ' | ' | ' | ' | ' | ' |
Amortizing Intangible Assets, Additions | ' | ' | 11.4 | ' | ' | ' | ' | ' | ' | ' | ' |
Amortizing Intangible Assets, Other | ' | ' | -1.7 | ' | ' | ' | ' | ' | ' | ' | ' |
Amortizing Intangible Assets, Ending Balance | 901.4 | ' | 901.4 | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill, Beginning Balance | ' | ' | 3,160.30 | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill, Impairments | -133.3 | ' | -133.3 | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill, Disposals | ' | ' | -14.9 | ' | ' | ' | ' | ' | ' | ' | 14.9 |
Goodwill, Other | ' | ' | 7.4 | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill, Ending Balance | 3,019.50 | ' | 3,019.50 | ' | ' | ' | ' | ' | ' | ' | ' |
Other Non-Amortizing Intangible Assets, Beginning Balance | ' | ' | 2,958.10 | ' | ' | 1,699.70 | ' | ' | 1,258.40 | ' | ' |
Other Non-Amortizing Intangible Assets, Impairments | -175.2 | ' | -198.2 | ' | -98 | ' | -77.2 | -3 | -20 | ' | ' |
Other Non-Amortizing Intangible Assets, Foreign currency translation | ' | ' | -0.5 | ' | ' | ' | ' | ' | ' | ' | ' |
Other Non-Amortizing Intangible Assets, Other | ' | ' | -0.6 | ' | ' | ' | ' | ' | ' | ' | ' |
Other Non-Amortizing Intangible Assets, Ending Balance | 2,758.80 | ' | 2,758.80 | ' | 1,601.50 | 1,699.70 | 1,157.30 | ' | ' | ' | ' |
Goodwill and Other Intangible Assets Narrative [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill, Impairments | 133.3 | ' | 133.3 | ' | ' | ' | ' | ' | ' | ' | ' |
Impairment of intangible assets excluding goodwill | 175.2 | ' | 198.2 | ' | 98 | ' | 77.2 | 3 | 20 | ' | ' |
Amortizing Intangible Assets, Impairments | ' | ' | 11.4 | ' | ' | ' | ' | ' | ' | 11.4 | ' |
Goodwill, Disposals | ' | ' | ($14.90) | ' | ' | ' | ' | ' | ' | ' | $14.90 |
Goodwill_and_Other_Intangible_3
Goodwill and Other Intangible Assets - Carrying Value and Accumulated Amortization for Each Major Class of Intangible Assets Other Than Goodwill (Detail) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Intangible Assets Excluding Goodwill [Line Items] | ' | ' |
Gross Carrying Amount | $1,786.80 | $1,803 |
Accumulated Amortization | -885.4 | -775.4 |
Net Carrying Amount | 901.4 | 1,027.60 |
Carrying value and accumulated amortization for each major class of intangible assets other than goodwill | ' | ' |
Non-amortizing intangible assets | 2,758.80 | 2,958.10 |
Total intangible assets other than goodwill | 3,660.20 | 3,985.70 |
Trademarks [Member] | ' | ' |
Carrying value and accumulated amortization for each major class of intangible assets other than goodwill | ' | ' |
Non-amortizing intangible assets | 1,601.50 | 1,699.70 |
Gaming rights [Member] | ' | ' |
Carrying value and accumulated amortization for each major class of intangible assets other than goodwill | ' | ' |
Non-amortizing intangible assets | 1,157.30 | 1,258.40 |
Customer relationships [Member] | ' | ' |
Intangible Assets Excluding Goodwill [Line Items] | ' | ' |
Weighted Average Remaining Useful Life (in years) | '6 years 3 months 18 days | ' |
Gross Carrying Amount | 1,432.10 | 1,456.70 |
Accumulated Amortization | -699.7 | -618 |
Net Carrying Amount | 732.4 | 838.7 |
Contract rights [Member] | ' | ' |
Intangible Assets Excluding Goodwill [Line Items] | ' | ' |
Weighted Average Remaining Useful Life (in years) | '1 year 2 months 12 days | ' |
Gross Carrying Amount | 145.1 | 145.1 |
Accumulated Amortization | -76.4 | -66.3 |
Net Carrying Amount | 68.7 | 78.8 |
Patented technology [Member] | ' | ' |
Intangible Assets Excluding Goodwill [Line Items] | ' | ' |
Weighted Average Remaining Useful Life (in years) | '3 years | ' |
Gross Carrying Amount | 166.8 | 156.7 |
Accumulated Amortization | -94.5 | -76.6 |
Net Carrying Amount | 72.3 | 80.1 |
Gaming rights [Member] | ' | ' |
Intangible Assets Excluding Goodwill [Line Items] | ' | ' |
Weighted Average Remaining Useful Life (in years) | '10 years 9 months 18 days | ' |
Gross Carrying Amount | 42.8 | 42.8 |
Accumulated Amortization | -14.8 | -12.8 |
Net Carrying Amount | 28 | 30 |
Trademarks [Member] | ' | ' |
Intangible Assets Excluding Goodwill [Line Items] | ' | ' |
Weighted Average Remaining Useful Life (in years) | '0 years | ' |
Gross Carrying Amount | 0 | 1.7 |
Accumulated Amortization | 0 | -1.7 |
Net Carrying Amount | $0 | $0 |
Debt_Outstanding_Debt_Detail
Debt - Outstanding Debt (Detail) (USD $) | 9 Months Ended | |||
Sep. 30, 2013 | Dec. 31, 2012 | |||
Debt Instrument [Line Items] | ' | ' | ||
Debt, Face Value at September 30, 2013 | $23,847,100,000 | ' | ||
Current Portion of Long-Term Debt, Face Value | -167,600,000 | ' | ||
Long-Term Debt, Face Value | 23,679,500,000 | ' | ||
Debt, Book Value at end of period | 21,340,200,000 | 21,412,100,000 | ||
Current Portion of Long-Term Debt, Face Value | -166,400,000 | -879,900,000 | ||
Long-Term Debt, Face Value | 21,173,800,000 | 20,532,200,000 | ||
Credit Facilities Term Loans B1-B3 [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Debt Instruments Maturity Date | '2015 | [1] | ' | |
Debt, Rate(s) at September 30, 2013, Minimum | 3.18% | [1] | ' | |
Debt, Rate(s) at September 30, 2013, Maximum | 3.25% | [1] | ' | |
Debt, Face Value at September 30, 2013 | 29,100,000 | [1] | ' | |
Debt, Book Value at end of period | 29,100,000 | [1] | 1,025,800,000 | [1] |
Credit Facilities Term Loan B4 [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Debt Instruments Maturity Date | '2016 | [1] | ' | |
Debt, Rate(s) at September 30, 2013 | 9.50% | [1] | ' | |
Debt, Face Value at September 30, 2013 | 962,500,000 | [1] | ' | |
Debt, Book Value at end of period | 949,600,000 | [1] | 954,500,000 | [1] |
Credit Facilities Term Loan B5 [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Debt Instruments Maturity Date | '2018 | [1] | ' | |
Debt, Rate(s) at September 30, 2013 | 4.43% | [1] | ' | |
Debt, Face Value at September 30, 2013 | 991,900,000 | [1] | ' | |
Debt, Book Value at end of period | 989,200,000 | [1] | 1,218,800,000 | [1] |
Credit Facilities Term Loans B6 [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Debt Instruments Maturity Date | '2018 | [1] | ' | |
Debt, Rate(s) at September 30, 2013 | 5.43% | [1] | ' | |
Debt, Face Value at September 30, 2013 | 2,431,900,000 | [1] | ' | |
Debt, Book Value at end of period | 2,398,400,000 | [1] | 2,812,600,000 | [1] |
Revolving credit facility with maturity of 2014 [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Debt Instruments Maturity Date | '2014 | [1] | ' | |
Debt, Rate(s) at September 30, 2013 | 0.00% | [1] | ' | |
Debt, Face Value at September 30, 2013 | 0 | [1] | ' | |
Debt, Book Value at end of period | 0 | [1] | 0 | [1] |
Revolving Credit Facility with Maturity of 2017 [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Debt Instruments Maturity Date | '2017 | [1] | ' | |
Debt, Rate(s) at September 30, 2013 | 0.00% | [1] | ' | |
Debt, Face Value at September 30, 2013 | 0 | [1] | ' | |
Debt, Book Value at end of period | 0 | [1] | 0 | [1] |
Senior notes with maturity of 2017 [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Debt Instruments Maturity Date | '2017 | [1] | ' | |
Debt, Rate(s) at September 30, 2013 | 11.25% | [1] | ' | |
Debt, Face Value at September 30, 2013 | 2,095,000,000 | [1] | ' | |
Debt, Book Value at end of period | 2,064,700,000 | [1] | 2,060,200,000 | [1] |
Senior notes with maturity of 2020 [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Debt Instruments Maturity Date | '2020 | [1] | ' | |
Debt, Rate(s) at September 30, 2013 | 8.50% | [1] | ' | |
Debt, Face Value at September 30, 2013 | 1,250,000,000 | [1] | ' | |
Debt, Book Value at end of period | 1,250,000,000 | [1] | 1,250,000,000 | [1] |
Senior notes with maturity of 2020 [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Debt Instruments Maturity Date | '2020 | [1] | ' | |
Debt, Rate(s) at September 30, 2013 | 9.00% | [1] | ' | |
Debt, Face Value at September 30, 2013 | 3,000,000,000 | [1] | ' | |
Debt, Book Value at end of period | 2,953,200,000 | [1] | 1,486,900,000 | [1] |
CMBS Financing [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Debt Instruments Maturity Date | '2015 | [2] | ' | |
Debt, Rate(s) at September 30, 2013 | 3.68% | ' | ||
Debt, Face Value at September 30, 2013 | 4,389,000,000 | ' | ||
Debt, Book Value at end of period | 4,371,100,000 | 4,660,500,000 | ||
Second-priority senior secured notes with maturity of 2018 one [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Debt Instruments Maturity Date | '2018 | [1] | ' | |
Debt, Rate(s) at September 30, 2013 | 12.75% | [1] | ' | |
Debt, Face Value at September 30, 2013 | 750,000,000 | [1] | ' | |
Debt, Book Value at end of period | 743,700,000 | [1] | 742,900,000 | [1] |
Second-priority senior secured notes with maturity of 2018 two [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Debt Instruments Maturity Date | '2018 | [1] | ' | |
Debt, Rate(s) at September 30, 2013 | 10.00% | [1] | ' | |
Debt, Face Value at September 30, 2013 | 4,528,100,000 | [1] | ' | |
Debt, Book Value at end of period | 2,377,700,000 | [1] | 2,260,200,000 | [1] |
Current Portion of Long-Term Debt, Face Value | -26,000,000 | ' | ||
Second priority senior secured notes with maturity of 2015 [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Debt Instruments Maturity Date | '2015 | [1] | ' | |
Debt, Rate(s) at September 30, 2013 | 10.00% | [1] | ' | |
Debt, Face Value at September 30, 2013 | 214,800,000 | [1] | ' | |
Debt, Book Value at end of period | 184,400,000 | [1] | 173,700,000 | [1] |
Current Portion of Long-Term Debt, Face Value | -24,900,000 | ' | ||
Chester Downs Senior Secured Notes [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Debt Instruments Maturity Date | '2020 | ' | ||
Debt, Rate(s) at September 30, 2013 | 9.25% | ' | ||
Debt, Face Value at September 30, 2013 | 330,000,000 | ' | ||
Debt, Book Value at end of period | 330,000,000 | 330,000,000 | ||
PHW Las Vegas Senior Secured Loan [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Debt Instruments Maturity Date | '2015 | [3] | ' | |
Debt, Rate(s) at September 30, 2013 | 3.04% | ' | ||
Debt, Face Value at September 30, 2013 | 510,000,000 | ' | ||
Debt, Book Value at end of period | 464,000,000 | 438,200,000 | ||
LINQ/Octavius Senior Secured Loan [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Debt Instruments Maturity Date | '2017 | [2] | ' | |
Debt, Rate(s) at September 30, 2013 | 9.25% | ' | ||
Debt, Face Value at September 30, 2013 | 450,000,000 | ' | ||
Debt, Book Value at end of period | 447,000,000 | 446,500,000 | ||
Bill's Gamblin' Hall & Saloon Credit Facility [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Debt Instruments Maturity Date | '2019 | ' | ||
Debt, Rate(s) at September 30, 2013 | 11.00% | ' | ||
Debt, Face Value at September 30, 2013 | 185,000,000 | ' | ||
Debt, Book Value at end of period | 181,600,000 | 181,400,000 | ||
CBAC Secured Debt [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Debt Instruments Maturity Date | '2020 | ' | ||
Debt, Rate(s) at September 30, 2013 | 8.25% | ' | ||
Debt, Face Value at September 30, 2013 | 225,000,000 | ' | ||
Debt, Book Value at end of period | 218,500,000 | 0 | ||
Subsidiary-Guaranteed Senior Notes [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Debt Instruments Maturity Date | '2016 | [4] | ' | |
Debt, Rate(s) at September 30, 2013 | 10.75% | [4] | ' | |
Debt, Face Value at September 30, 2013 | 478,600,000 | [4] | ' | |
Debt, Book Value at end of period | 478,600,000 | [4] | 478,600,000 | [4] |
Subsidiary-Guaranteed Senior PIK Toggle Notes [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Debt Instruments Maturity Date | '2018 | [4] | ' | |
Debt, Rate(s) at September 30, 2013, Minimum | 10.75% | [4] | ' | |
Debt, Rate(s) at September 30, 2013, Maximum | 11.50% | [4] | ' | |
Debt, Face Value at September 30, 2013 | 10,900,000 | [4] | ' | |
Debt, Book Value at end of period | 10,900,000 | [4] | 9,700,000 | [4] |
Unsecured Senior Debt 5.375% [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Debt Instruments Maturity Date | '2013 | [1] | ' | |
Debt, Rate(s) at September 30, 2013 | 5.38% | [1] | ' | |
Debt, Face Value at September 30, 2013 | 80,700,000 | [1] | ' | |
Debt, Book Value at end of period | 79,500,000 | [1] | 116,600,000 | [1] |
Current Portion of Long-Term Debt, Face Value | -80,700,000 | ' | ||
Unsecured Senior Debt 7.0% [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Debt Instruments Maturity Date | '2013 | [1] | ' | |
Debt, Rate(s) at September 30, 2013 | 7.00% | [1] | ' | |
Debt, Face Value at September 30, 2013 | 0 | [1] | ' | |
Debt, Book Value at end of period | 0 | [1] | 600,000 | [1] |
Unsecured Senior Debt 5.625% [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Debt Instruments Maturity Date | '2015 | [1] | ' | |
Debt, Rate(s) at September 30, 2013 | 5.63% | [1] | ' | |
Debt, Face Value at September 30, 2013 | 364,400,000 | [1] | ' | |
Debt, Book Value at end of period | 322,600,000 | [1] | 306,700,000 | [1] |
Unsecured Senior Debt 6.5% [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Debt Instruments Maturity Date | '2016 | [1] | ' | |
Debt, Rate(s) at September 30, 2013 | 6.50% | [1] | ' | |
Debt, Face Value at September 30, 2013 | 248,700,000 | [1] | ' | |
Debt, Book Value at end of period | 209,500,000 | [1] | 200,900,000 | [1] |
Unsecured Senior Debt 5.75% [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Debt Instruments Maturity Date | '2017 | [1] | ' | |
Debt, Rate(s) at September 30, 2013 | 5.75% | [1] | ' | |
Debt, Face Value at September 30, 2013 | 147,900,000 | [1] | ' | |
Debt, Book Value at end of period | 113,300,000 | [1] | 108,700,000 | [1] |
Floating Rate Contingent Convertible Senior Notes [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Debt Instruments Maturity Date | '2024 | [1] | ' | |
Debt, Rate(s) at September 30, 2013 | 0.57% | [1] | ' | |
Debt, Face Value at September 30, 2013 | 200,000 | [1] | ' | |
Debt, Book Value at end of period | 200,000 | [1] | 200,000 | [1] |
Other Unsecured Borrowings Special Improvement District Bonds [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Debt Instruments Maturity Date | '2037 | ' | ||
Debt, Rate(s) at September 30, 2013 | 5.30% | ' | ||
Debt, Face Value at September 30, 2013 | 62,900,000 | ' | ||
Debt, Book Value at end of period | 62,900,000 | 64,300,000 | ||
Other Unsecured Borrowings, Other [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Debt Instruments Maturity Date | '2016 | ' | ||
Debt, Rate(s) at September 30, 2013, Minimum | 0.00% | ' | ||
Debt, Rate(s) at September 30, 2013, Maximum | 6.00% | ' | ||
Debt, Face Value at September 30, 2013 | 84,700,000 | ' | ||
Debt, Book Value at end of period | 84,700,000 | 47,700,000 | ||
Other Unsecured Borrowings, Capital lease obligations [Member] | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Debt Instruments Maturity Date | 'to 2017 | ' | ||
Debt, Rate(s) at September 30, 2013, Minimum | 3.57% | ' | ||
Debt, Rate(s) at September 30, 2013, Maximum | 11.00% | ' | ||
Debt, Face Value at September 30, 2013 | 25,800,000 | ' | ||
Debt, Book Value at end of period | $25,800,000 | $35,900,000 | ||
[1] | Guaranteed by Caesars Entertainment. | |||
[2] | Refinanced October 2013. See Note 21, "Subsequent Events." | |||
[3] | Based on our ability and intent, assumes the exercise of extension options to move the maturity from 2013 to 2015, subject to certain conditions. | |||
[4] | Guaranteed by Caesars Entertainment and certain wholly owned subsidiaries of CEOC. |
Debt_Additional_Information_De
Debt - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 0 Months Ended | 2 Months Ended | 1 Months Ended | 3 Months Ended | 1 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 3 Months Ended | ||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Feb. 28, 2013 | Feb. 28, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Feb. 20, 2013 | Dec. 31, 2012 | Feb. 28, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Feb. 28, 2013 | Mar. 31, 2013 | Aug. 31, 2013 | Jun. 30, 2013 | Feb. 28, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Jul. 02, 2013 | Jul. 02, 2013 | Sep. 30, 2013 | Jul. 02, 2013 | Sep. 30, 2013 | Jul. 02, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Jul. 02, 2013 | Jul. 02, 2013 | Sep. 30, 2013 | ||||||||||
Revolving Credit Facility [Member] | Line of Credit [Member] | Maximum [Member] | Minimum [Member] | Second-priority senior secured notes with maturity of 2018 two [Member] | Second priority senior secured notes with maturity of 2015 [Member] | Unsecured Senior Debt 5.375% [Member] | Senior Notes with Maturity of 2020 Two [Member] | Senior Notes with Maturity of 2020 Two [Member] | Credit Facilities Term Loans B6 [Member] | Credit Facilities Term Loans B6 [Member] | Senior Secured Financing [Member] | Senior Secured Term Loan [Member] | Revolving credit facility with maturity of 2014 [Member] | Revolving Credit Facility with Maturity of 2017 [Member] | Credit Facilities Term Loans B1-B3 [Member] | Credit Facilities Term Loan B4 [Member] | Credit Facilities Term Loans B5-B6 [Member] | Senior Notes With Maturity of 2020 (Three) [Member] | Senior Notes [Member] | CMBS Financing [Member] | CMBS Financing [Member] | CMBS Financing [Member] | CMBS Financing [Member] | Senior Secured Term Facility with a Seven-year Maturity [Member] | Senior Secured Term Facility with a Seven-year Maturity [Member] | Senior Secured Term Facility with a Seven-year Maturity1 [Member] | Senior Secured Term Facility - Delayed Draw Facility [Member] | Senior Secured Term Facility - Delayed Draw Facility [Member] | Senior Secured Term Facility - Delayed Draw Facility1 [Member] | Senior Secured Term Facility - Delayed Draw Facility1 [Member] | Senior Secured Revolving Facility [Member] | Senior Secured Revolving Facility [Member] | Senior Secured Revolving Facility [Member] | Baltimore FF&E Facility [Member] | Caesars Entertainment Operating Company Inc [Member] | |||||||||||||||
Baltimore Credit Facility [Member] | Baltimore Credit Facility [Member] | Baltimore Credit Facility [Member] | Baltimore Credit Facility [Member] | Baltimore Credit Facility [Member] | Baltimore Credit Facility [Member] | Baltimore Credit Facility [Member] | Baltimore Credit Facility [Member] | Baltimore Credit Facility [Member] | Baltimore Credit Facility [Member] | Unsecured Senior Debt 5.375% [Member] | ||||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Unamortized discounts | $2,506,900,000 | ' | $2,506,900,000 | ' | $2,691,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Current Maturities of Debt [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Current portion of long-term debt, face value | 166,400,000 | ' | 166,400,000 | ' | 879,900,000 | ' | ' | ' | ' | 26,000,000 | 24,900,000 | 80,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Debt Instrument, Interest Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | [1] | 10.00% | [1] | 5.38% | [1] | ' | 9.00% | ' | 5.43% | [1] | ' | ' | 0.00% | [1] | 0.00% | [1] | ' | 9.50% | [1] | ' | 9.00% | ' | ' | ' | ' | 3.68% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.38% | [1] | |
Debt Instrument, Face Value | 23,847,100,000 | ' | 23,847,100,000 | ' | ' | ' | ' | ' | ' | 4,528,100,000 | [1] | 214,800,000 | [1] | 80,700,000 | [1] | ' | 750,000,000 | ' | 2,431,900,000 | [1] | ' | ' | 0 | [1] | 0 | [1] | 29,100,000 | [1] | 962,500,000 | [1] | 3,423,800,000 | 1,500,000,000 | ' | ' | ' | ' | 4,389,000,000 | ' | 300,000,000 | 225,000,000 | ' | 37,500,000 | ' | 37,500,000 | ' | ' | 10,000,000 | 30,000,000 | ' | |
CEOC | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Debt converted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 133,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Revolving commitments terminated | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 133,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Extended facility commitments | ' | ' | ' | ' | ' | 75,000,000 | 650,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Senior secured revolving credit facility, borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,630,800,000 | 4,415,400,000 | 109,400,000 | 106,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 215,500,000 | ' | ' | ' | ' | |||||||||
Required scheduled by Credit Facilities for quarterly payments | ' | ' | 2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Debt Instrument, Face Value | 23,847,100,000 | ' | 23,847,100,000 | ' | ' | ' | ' | ' | ' | 4,528,100,000 | [1] | 214,800,000 | [1] | 80,700,000 | [1] | ' | 750,000,000 | ' | 2,431,900,000 | [1] | ' | ' | 0 | [1] | 0 | [1] | 29,100,000 | [1] | 962,500,000 | [1] | 3,423,800,000 | 1,500,000,000 | ' | ' | ' | ' | 4,389,000,000 | ' | 300,000,000 | 225,000,000 | ' | 37,500,000 | ' | 37,500,000 | ' | ' | 10,000,000 | 30,000,000 | ' | |
Line Of Credit Outstanding Amount Committed To Letters Of Credit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Line of Credit Facility, Remaining Borrowing Capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 114,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Use of net proceeds from offering of senior secured notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 350,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,433,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Loss on extinguishment of debt | -13,000,000 | 0 | -17,500,000 | -79,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 29,400,000 | -13,400,000 | -39,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | |||||||||
Open Market Purchases and Horseshoe Baltimore | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Face value of debt repurchase | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 49,800,000 | 225,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,300,000 | |||||||||
Debt Instrument, Interest Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | [1] | 10.00% | [1] | 5.38% | [1] | ' | 9.00% | ' | 5.43% | [1] | ' | ' | 0.00% | [1] | 0.00% | [1] | ' | 9.50% | [1] | ' | 9.00% | ' | ' | ' | ' | 3.68% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.38% | [1] | |
Cash Paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 36,000,000 | 183,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Gain (loss) on early extinguishments of debt | 13,000,000 | 0 | 17,500,000 | 79,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -29,400,000 | 13,400,000 | 39,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -200,000 | |||||||||
Payments of loan maturity extension fees | ' | ' | 23,300,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 23,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Debt Instrument, Face Amount | 23,847,100,000 | ' | 23,847,100,000 | ' | ' | ' | ' | ' | ' | 4,528,100,000 | [1] | 214,800,000 | [1] | 80,700,000 | [1] | ' | 750,000,000 | ' | 2,431,900,000 | [1] | ' | ' | 0 | [1] | 0 | [1] | 29,100,000 | [1] | 962,500,000 | [1] | 3,423,800,000 | 1,500,000,000 | ' | ' | ' | ' | 4,389,000,000 | ' | 300,000,000 | 225,000,000 | ' | 37,500,000 | ' | 37,500,000 | ' | ' | 10,000,000 | 30,000,000 | ' | |
Debt Instrument, Term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '7 years | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | |||||||||
Delayed draw facility, period of availability | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '12 months | ' | '18 months | ' | ' | ' | ' | ' | ' | |||||||||
Restrictive Covenants and Other Matters | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Leverage ratio for line of credit facility | ' | ' | ' | ' | ' | ' | ' | 4.75 | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Ratio excludes first priority senior secured notes | 3,700,000,000 | ' | 3,700,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Ratio excludes aggregate principal amount | ' | ' | 350,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Leverage ratio for senior secured debt | ' | ' | ' | ' | ' | ' | ' | 4.36 | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Fixed charge coverage ratio | ' | ' | ' | ' | ' | ' | ' | 2 | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
First priority senior secured debt last twelve months to EBITDA | ' | ' | ' | ' | ' | ' | ' | 4.5 | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Consolidated senior secured debt LTM to EBITDA | ' | ' | ' | ' | ' | ' | ' | 7.25 | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
First priority senior secured debt | ' | ' | ' | ' | ' | ' | ' | 7.3 | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Consolidated senior secured debt | ' | ' | ' | ' | ' | ' | ' | 13.44 | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
CEOC's earnings were insufficient to cover fixed charges | ' | ' | $641,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
[1] | Guaranteed by Caesars Entertainment. |
Derivative_Instruments_Derivat
Derivative Instruments - Derivative Instruments Interest Rate Swap Agreement (Detail) (USD $) | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 |
Interest Rate Swap Fixed Rate Paid 1.351% [Member] | ' |
Derivative [Line Items] | ' |
Derivative, Effective Date | 25-Apr-11 |
Derivative, Notional Amount | $250 |
Derivative, Fixed Rate Paid | 1.35% |
Derivative, Variable Rate Received as of September 30, 2013 | 0.18% |
Derivative, Next Reset Date | 25-Oct-13 |
Derivative, Maturity Date | 25-Jan-15 |
Interest Rate Swap Fixed Rate Paid 1.347% [Member] | ' |
Derivative [Line Items] | ' |
Derivative, Effective Date | 25-Apr-11 |
Derivative, Notional Amount | 250 |
Derivative, Fixed Rate Paid | 1.35% |
Derivative, Variable Rate Received as of September 30, 2013 | 0.18% |
Derivative, Next Reset Date | 25-Oct-13 |
Derivative, Maturity Date | 25-Jan-15 |
Interest Rate Swap Fixed Rate Paid 1.350% [Member] | ' |
Derivative [Line Items] | ' |
Derivative, Effective Date | 25-Apr-11 |
Derivative, Notional Amount | 250 |
Derivative, Fixed Rate Paid | 1.35% |
Derivative, Variable Rate Received as of September 30, 2013 | 0.18% |
Derivative, Next Reset Date | 25-Oct-13 |
Derivative, Maturity Date | 25-Jan-15 |
Interest Rate Swap Fixed Rate Paid 3.068% [Member] | ' |
Derivative [Line Items] | ' |
Derivative, Effective Date | 25-Jan-11 |
Derivative, Notional Amount | 1,000 |
Derivative, Fixed Rate Paid | 3.07% |
Derivative, Variable Rate Received as of September 30, 2013 | 0.18% |
Derivative, Next Reset Date | 25-Oct-13 |
Derivative, Maturity Date | 25-Jan-15 |
Interest Rate Swap Fixed Rate Paid 3.150% [Member] | ' |
Derivative [Line Items] | ' |
Derivative, Effective Date | 25-Apr-11 |
Derivative, Notional Amount | 1,000 |
Derivative, Fixed Rate Paid | 3.15% |
Derivative, Variable Rate Received as of September 30, 2013 | 0.18% |
Derivative, Next Reset Date | 25-Oct-13 |
Derivative, Maturity Date | 25-Jan-15 |
Interest Rate Swap Fixed Rate Paid 3.750% [Member] | ' |
Derivative [Line Items] | ' |
Derivative, Effective Date | 25-Jan-11 |
Derivative, Notional Amount | 1,000 |
Derivative, Fixed Rate Paid | 3.75% |
Derivative, Variable Rate Received as of September 30, 2013 | 0.18% |
Derivative, Next Reset Date | 25-Oct-13 |
Derivative, Maturity Date | 25-Jan-15 |
Interest Rate Swap Fixed Rate Paid 3.264% [Member] | ' |
Derivative [Line Items] | ' |
Derivative, Effective Date | 25-Apr-11 |
Derivative, Notional Amount | 1,000 |
Derivative, Fixed Rate Paid | 3.26% |
Derivative, Variable Rate Received as of September 30, 2013 | 0.18% |
Derivative, Next Reset Date | 25-Oct-13 |
Derivative, Maturity Date | 25-Jan-15 |
Interest Rate Swap Fixed Rate Paid 3.814% [Member] | ' |
Derivative [Line Items] | ' |
Derivative, Effective Date | 25-Jan-11 |
Derivative, Notional Amount | $1,000 |
Derivative, Fixed Rate Paid | 3.81% |
Derivative, Variable Rate Received as of September 30, 2013 | 0.18% |
Derivative, Next Reset Date | 25-Oct-13 |
Derivative, Maturity Date | 25-Jan-15 |
Derivative_Instruments_Fair_Va
Derivative Instruments - Fair Values of Derivative Instruments (Detail) (Derivatives not designated as hedging instruments [Member], USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Millions, unless otherwise specified | ||||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value | $0 | $0 | ||
Derivative Liability, Fair Value | -203 | -306.4 | ||
Deferred credits and other [Member] | Interest rate swaps [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value | 0 | 0 | ||
Derivative Liability, Fair Value | -203 | -306.4 | ||
Deferred charges and other [Member] | Interest rate caps [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value | 0 | [1] | 0 | [1] |
Derivative Liability, Fair Value | $0 | $0 | ||
[1] | Amount rounds to zero. |
Derivative_Instruments_Effect_
Derivative Instruments - Effect of Derivative Instruments in Consolidated Statements of Comprehensive Loss (Detail) (Interest rate contracts [Member], Interest Expense [Member], USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Derivatives designated as hedging instruments [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Amount of (gain) or loss reclassified from AOCL into net loss (effective portion) | $0 | $6.90 | $3.90 | $21.20 |
Derivatives not designated as hedging instruments [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Unrealized (gains)/losses | -34.1 | -6.2 | -100.6 | 10.9 |
Derivative settlements | 43.4 | 42.6 | 128.3 | 126.6 |
Total | $9.30 | $36.40 | $27.70 | $137.50 |
Derivative_Instruments_Additio
Derivative Instruments - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Feb. 13, 2013 |
In Millions, unless otherwise specified | Put Option [Member] | Interest rate swaps [Member] | Derivatives designated as hedging instruments [Member] | |
interest_rate_swap_agreements | Interest rate caps [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Number of interest rate swap agreements | ' | ' | 8 | ' |
Notional amount of interest rate swap agreements | ' | ' | $5,750 | $4,664.10 |
LIBOR cap rate | ' | ' | ' | 4.50% |
Aggregate cash payment | ' | 5.5 | ' | ' |
Variable rate debt hedged using interest rate swap agreements | $5,750 | ' | ' | ' |
Variable rate debt, percentage of total debt | 19.00% | ' | ' | ' |
Fixed-rate debt, percentage of total debt | 81.00% | ' | ' | ' |
Stockholders_Equity_Noncontrol1
Stockholders' Equity, Noncontrolling Interests and Variable Interest Entities (Details) (USD $) | 9 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 18 Months Ended | 0 Months Ended | |||||
Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Mar. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Apr. 30, 2012 | Oct. 01, 2013 | |
Horseshoe Casino Baltimore [Member] | CEC (Parent Company) [Member] | CEC (Parent Company) [Member] | CEC (Parent Company) [Member] | CEC (Parent Company) [Member] | CEC (Parent Company) [Member] | CEC (Parent Company) [Member] | CEC (Parent Company) [Member] | Subsequent Event [Member] | ||||
CBAC Gaming, LLC [Member] | CEC (Parent Company) [Member] | |||||||||||
Common Stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum aggregate common stock offering price | ' | ' | ' | ' | $500,000,000 | ' | ' | ' | ' | ' | ' | ' |
Shares authorized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000,000 | ' |
Shares sold during period (in shares) | ' | ' | ' | ' | ' | 155,000 | 15,000 | 1,055,493 | 15,000 | ' | ' | 10,300,000 |
Proceeds from issuance of common stock | 16,200,000 | 17,400,000 | ' | ' | ' | 2,800,000 | 200,000 | 15,400,000 | 200,000 | 15,600,000 | ' | 200,600,000 |
Common stock, shares issued | 128,700,000 | ' | 127,500,000 | ' | ' | 1,070,493 | ' | 1,070,493 | ' | 1,070,493 | ' | ' |
Share price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $19.40 |
Non-controlling Interests | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contributions from noncontrolling interest owners | 35,300,000 | 0 | ' | 35,300,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Pre-opening losses | ' | ' | ' | $6,300,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Reclassifications_out_of_Accum2
Reclassifications out of Accumulated Other Comprehensive Loss (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Amount reclassified from AOCL to Interest expense, net of capitalized interest | ($563) | ($515.80) | ($1,677.70) | ($1,574.30) |
Amount reclassified from AOCL to Write-downs, reserves, and project opening costs, net of recoveries | -0.5 | -32.8 | -44.7 | -56.9 |
Amount reclassified from AOCL to Loss/(income) from discontinued operations | 14.9 | 0.8 | -29.3 | -69.4 |
Related tax impact | 413.4 | 225.3 | 819.3 | 489.5 |
Reclassification, net of income taxes | -761.8 | -503.4 | -1,187.80 | -1,026.30 |
Defined Benefit Plan Adjustments [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Amount reclassified from AOCL to Interest expense, net of capitalized interest | 0.2 | ' | 0.6 | ' |
Amount reclassified from AOCL to Write-downs, reserves, and project opening costs, net of recoveries | 0 | ' | 0 | ' |
Amount reclassified from AOCL to Loss/(income) from discontinued operations | 0 | ' | 0 | ' |
Related tax impact | -0.1 | ' | -0.2 | ' |
Reclassification, net of income taxes | 0.1 | ' | 0.4 | ' |
Foreign Currency Translation Adjustments [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Amount reclassified from AOCL to Interest expense, net of capitalized interest | 0 | ' | 0 | ' |
Amount reclassified from AOCL to Write-downs, reserves, and project opening costs, net of recoveries | 0 | ' | -4.1 | ' |
Amount reclassified from AOCL to Loss/(income) from discontinued operations | 0 | ' | -2.2 | ' |
Related tax impact | 0 | ' | 0 | ' |
Reclassification, net of income taxes | 0 | ' | -6.3 | ' |
Losses on Derivative Instruments [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Amount reclassified from AOCL to Interest expense, net of capitalized interest | 0 | 6.9 | 3.9 | 21.2 |
Amount reclassified from AOCL to Write-downs, reserves, and project opening costs, net of recoveries | 0 | ' | 0 | ' |
Amount reclassified from AOCL to Loss/(income) from discontinued operations | 0 | ' | 0 | ' |
Related tax impact | 0 | -2.5 | -1.4 | -7.7 |
Reclassification, net of income taxes | $0 | $4.40 | $2.50 | $13.50 |
Casino_Promotional_Allowances_1
Casino Promotional Allowances (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Estimated retail value of promotional allowances | ' | ' | ' | ' |
Promotional allowances, retail value | $300.60 | $322.60 | $881.70 | $937.40 |
Estimated cost of promotional allowances [Abstract] | ' | ' | ' | ' |
Food and Beverage | 115 | 119.7 | 339.4 | 362.3 |
Rooms | 44.6 | 48.2 | 132 | 140.2 |
Other | 13.7 | 15 | 34.8 | 38.3 |
Cost of Promotional Allowances | 173.3 | 182.9 | 506.2 | 540.8 |
Food and Beverage [Member] | ' | ' | ' | ' |
Estimated retail value of promotional allowances | ' | ' | ' | ' |
Promotional allowances, retail value | 157 | 166.8 | 469.9 | 497.3 |
Rooms [Member] | ' | ' | ' | ' |
Estimated retail value of promotional allowances | ' | ' | ' | ' |
Promotional allowances, retail value | 119.8 | 127.7 | 343 | 366 |
Other [Member] | ' | ' | ' | ' |
Estimated retail value of promotional allowances | ' | ' | ' | ' |
Promotional allowances, retail value | $23.80 | $28.10 | $68.80 | $74.10 |
Loss_Per_Share_Shares_Excluded
Loss Per Share - Shares Excluded from Computation of Diluted Loss Per Share (Detail) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Anti-dilutive potential common shares | 5.3 | 8.5 | 4.4 | 7.8 |
Stock Options [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Anti-dilutive potential common shares | 4.9 | 8.1 | 4 | 7.4 |
Warrants [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Anti-dilutive potential common shares | 0.4 | 0.4 | 0.4 | 0.4 |
Writedowns_Reserves_and_Projec2
Write-downs, Reserves, and Project Opening Costs, net of Recoveries (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Write-downs and reserves, and project opening costs, net of recoveries: | ' | ' | ' | ' |
Remediation costs | $5.40 | $6.40 | $24.40 | $12.40 |
Divestitures and abandonments | 2.4 | 28.1 | 16.3 | 36.2 |
Project opening costs | 7 | 2.8 | 11.6 | 4.7 |
Other | -14.3 | -4.5 | -7.6 | 3.6 |
Total write-downs, reserves, and project opening costs, net of recoveries | $0.50 | $32.80 | $44.70 | $56.90 |
Income_Taxes_Allocation_of_Tot
Income Taxes - Allocation of Total Income Taxes (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' |
Income tax benefit on loss before income taxes | ($413.40) | ($225.30) | ($819.30) | ($489.50) |
Income tax provision on discontinued operations | 3.1 | 1.6 | 0.2 | 4.6 |
Accumulated other comprehensive loss | -0.9 | -4.1 | -2.1 | -8.7 |
Additional paid-in capital | $0 | $2.10 | $0 | $2.10 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' |
Effective tax rate | 34.80% | 31.00% | 41.40% | 34.00% |
Fair_Value_Measurements_Fair_V
Fair Value Measurements - Fair Value of Financial Assets and Financial Liabilities (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Millions, unless otherwise specified | ||||
Assets: | ' | ' | ||
Investments | $99.60 | $114.20 | ||
Balance [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' | ||
Assets: | ' | ' | ||
Investments | 99.6 | 114.2 | ||
Derivative instruments | 0 | [1] | 0 | [1] |
Liabilities: | ' | ' | ||
Derivative instruments | -203 | -306.4 | ||
Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' | ||
Assets: | ' | ' | ||
Investments | 99.6 | 114.2 | ||
Derivative instruments | 0 | 0 | ||
Liabilities: | ' | ' | ||
Derivative instruments | 0 | 0 | ||
Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' | ||
Assets: | ' | ' | ||
Investments | 0 | 0 | ||
Derivative instruments | 0 | [1] | 0 | [1] |
Liabilities: | ' | ' | ||
Derivative instruments | -203 | -306.4 | ||
Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' | ||
Assets: | ' | ' | ||
Investments | 0 | 0 | ||
Derivative instruments | 0 | 0 | ||
Liabilities: | ' | ' | ||
Derivative instruments | $0 | $0 | ||
[1] | Amount rounds to zero |
Fair_Value_Measurements_Fair_V1
Fair Value Measurements - Fair Value of Investments in Marketable Securities (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Total investments | $99.60 | $114.20 |
Equity securities [Member] | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Total investments | 18.9 | 2.8 |
Government bonds [Member] | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Total investments | $80.70 | $111.40 |
Fair_Value_Measurements_Fair_V2
Fair Value Measurements - Fair Value of Assets Required to be Measured at Fair Value (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | |||||||||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Intangible and tangible assets [Member] | Net assets held for sale [Member] | Caesars Interactive Entertainment [Member] | Caesars Interactive Entertainment [Member] | Caesars Interactive Entertainment [Member] | Caesars Interactive Entertainment [Member] | Caesars Interactive Entertainment [Member] | Caesars Interactive Entertainment [Member] | Caesars Interactive Entertainment [Member] | Caesars Interactive Entertainment [Member] | Caesars Interactive Entertainment [Member] | |||||
Level 1 [Member] | Level 2 [Member] | Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Buffalo Studios, LLC [Member] | Buffalo Studios, LLC [Member] | Buffalo Studios, LLC [Member] | Buffalo Studios, LLC [Member] | Buffalo Studios, LLC [Member] | Buffalo Studios, LLC [Member] | Buffalo Studios, LLC [Member] | Buffalo Studios, LLC [Member] | Buffalo Studios, LLC [Member] | ||||||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Measurements, Nonrecurring [Member] | Contingent earnout liability [Member] | |||||||||||||||
Level 1 [Member] | Level 2 [Member] | Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intangible and tangible assets | ' | ' | ' | ' | $2,651.20 | $0 | $0 | $2,651.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net assets held for sale | ' | ' | ' | ' | 445.3 | 0 | 0 | 445.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contingent earnout liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 54.5 | 54.5 | 58 | 5.6 | 57 | 0 | 0 | 57 | ' |
Intangible and tangible asset impairment charges | $930.90 | $419 | $1,055.60 | $626 | ' | ' | ' | ' | $954 | $27.50 | ' | ' | ' | ' | ' | ' | ' | ' | $48.90 |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Detail) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Fair Value Disclosures [Abstract] | ' | ' |
Minimum days to maturity of investments | '90 days | ' |
Long-term debt, fair value | $20,438.10 | ' |
Carrying value of outstanding debt | $21,340.20 | $21,412.10 |
Litigation_Contractual_Commitm1
Litigation, Contractual Commitments and Contingent Liabilities - Additional Information (Detail) (USD $) | 9 Months Ended | 0 Months Ended | 3 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Aug. 31, 2011 | Jun. 30, 2010 | Feb. 21, 2012 | Dec. 31, 2010 | Sep. 30, 2013 | Dec. 31, 2010 | Sep. 30, 2013 | Dec. 31, 2010 |
shows | Hilton Matter [Member] | Hilton Matter [Member] | Hilton Hotels Corporation [Member] | Hilton Hotels Corporation [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | |
Hilton Matter [Member] | Class size and members [Member] | Hilton Matter [Member] | Hilton Hotels Corporation [Member] | Hilton Matter [Member] | Hilton Hotels Corporation [Member] | ||||
Hilton Matter [Member] | Hilton Matter [Member] | Hilton Matter [Member] | |||||||
Disclosure Litigation, Contractual Commitments and Contingent Liabilities Additional Information [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long term debt interest payment current year | $502.10 | ' | ' | ' | ' | ' | ' | ' | ' |
Long term debt interest payment year two | 2,027.90 | ' | ' | ' | ' | ' | ' | ' | ' |
Long term debt interest payment year three | 1,702.30 | ' | ' | ' | ' | ' | ' | ' | ' |
Long term debt interest payment year four | 1,557.60 | ' | ' | ' | ' | ' | ' | ' | ' |
Long term debt interest payment year five | 1,297.50 | ' | ' | ' | ' | ' | ' | ' | ' |
Long term debt interest payment thereafter | 1,443.20 | ' | ' | ' | ' | ' | ' | ' | ' |
Term of performance agreement | '2 years | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shows to be performed | 96 | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate commitments | 64 | ' | ' | ' | ' | ' | ' | ' | ' |
Court Ordered Compliance Period | ' | '30 days | ' | ' | ' | ' | ' | ' | ' |
Bond Posted by Third Party | ' | ' | ' | 75.8 | ' | ' | ' | ' | ' |
Loss Contingency, Damages Sought, Value | ' | ' | ' | ' | 50 | 80 | 80 | ' | 280 |
Loss Contingency, Range of Possible Loss, Percent | ' | ' | ' | ' | ' | 30.00% | ' | 33.00% | ' |
Loss Contingency, Loss in Period | ' | ' | $25 | ' | ' | ' | ' | ' | ' |
Supplemental_Cash_Flow_Informa2
Supplemental Cash Flow Information - Supplemental Cash Flow Reconciliation (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Supplemental Cash Flow Information [Abstract] | ' | ' | ' | ' |
Interest expense, net of interest capitalized | $563 | $515.80 | $1,677.70 | $1,574.30 |
Adjustments to reconcile to cash paid for interest: | ' | ' | ' | ' |
Net change in accurals | ' | ' | -142.4 | -138.7 |
Amortization of deferred finance charges | ' | ' | -41.6 | -66.5 |
Net amortization of discounts and premiums | ' | ' | -231.4 | -166.2 |
Amortization of accumulated other comprehensive loss | ' | ' | -4.5 | -21.2 |
Rollover of PIK interest to principal | ' | ' | -1.2 | -1 |
Change in fair value of derivative instruments | ' | ' | 100.6 | -10.9 |
Cash paid for interest | ' | ' | 1,357.20 | 1,169.80 |
Cash payments for income taxes, net | ' | ' | $25.20 | $9.10 |
Supplemental_Cash_Flow_Informa3
Supplemental Cash Flow Information - Additional Information (Detail) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Supplemental Cash Flow Information [Abstract] | ' | ' |
Assets acquired | $37 | $31.20 |
Shares contributed by participating co-investors | ' | 1.8 |
StockBased_Compensation_StockB
Stock-Based Compensation - Stock-Based Compensation Expense Recognized (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Total stock-based compensation expense | $8.50 | $9.80 | $18.20 | $43 |
Corporate expenses [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Total stock-based compensation expense | 5.2 | 6.3 | 8.5 | 20.5 |
Property, general, administrative, and other [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Total stock-based compensation expense | $3.30 | $3.50 | $9.70 | $22.50 |
StockBased_Compensation_Additi
Stock-Based Compensation - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 0 Months Ended | |||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Jun. 28, 2013 | Jun. 28, 2013 |
Liability Classified Awards [Member] | Liability Classified Awards [Member] | Liability Classified Awards [Member] | Liability Classified Awards [Member] | Equity Classified Awards [Member] | Equity Classified Awards [Member] | Equity Classified Awards [Member] | Equity Classified Awards [Member] | Restricted Stock Units (RSUs) [Member] | Annual [Member] | |||||
Restricted Stock Units (RSUs) [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expense related to stock-based awards of subsidiaries | $2.50 | $2 | $6.40 | $18.20 | $2.10 | $1.80 | $4.40 | $17.30 | $0.40 | $0.20 | $2 | $0.90 | ' | ' |
Restricted stock units granted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.6 | ' |
Fair value of restricted stock units granted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $21.30 | ' |
Vesting percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% |
StockBased_Compensation_Summar
Stock-Based Compensation - Summary of Share-Based Option Activity (Detail) (USD $) | 9 Months Ended |
Sep. 30, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' |
Shares Outstanding, Beginning of Period | 8,478,148 |
Shares Granted | 550,812 |
Shares Exercised | -127,660 |
Shares Canceled | -345,107 |
Shares Outstanding, End of Period | 8,556,193 |
Shares Vested and expected to vest at September 30, 2013 | 6,753,926 |
Shares Exercisable at September 30, 2013 | 2,301,361 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract] | ' |
Weighted Average Exercise Price Outstanding, Beginning of Period | $12.22 |
Weighted Average Exercise Price Granted | $13.65 |
Weighted Average Exercise Price Exercised | $8.39 |
Weighted Average Exercise Price Canceled | $12.05 |
Weighted Average Exercise Price Outstanding, End of Period | $12.38 |
Weighted Average Exercise Price Vested and expected to vest at September 30, 2013 | $12.44 |
Weighted Average Exercise Price Exercisable at September 30, 2013 | $15.58 |
Related_Party_Transactions_Add
Related Party Transactions - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Related Party Transactions [Abstract] | ' | ' | ' | ' |
Fees paid to the sponsors | $7.50 | $7.50 | $22.50 | $22.50 |
Subsequent_Events_Subsequent_E
Subsequent Events Subsequent Events (Details) (USD $) | 9 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | 3 Months Ended | 9 Months Ended | 18 Months Ended | 0 Months Ended | 0 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Oct. 21, 2013 | Oct. 21, 2013 | Sep. 30, 2013 | Oct. 21, 2013 | Oct. 11, 2013 | Oct. 11, 2013 | Oct. 11, 2013 | Oct. 11, 2013 | Oct. 11, 2013 | Oct. 31, 2013 | Nov. 01, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Oct. 01, 2013 | Oct. 21, 2013 | Oct. 29, 2013 | Oct. 29, 2013 | Oct. 29, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 27, 2013 | Sep. 25, 2013 | ||||||
Subsequent Event [Member] | Caesars Growth Partners, LLC [Member] | PHW Las Vegas Senior Secured Loan [Member] | PHW Las Vegas Senior Secured Loan [Member] | First-priority Senior Secured Notes due 2020 [Member] | Second-priority Senior Secured Notes due 2021 [Member] | Senior Secured Credit Facility [Member] | Senior Secured Term Loan [Member] | Senior Secured Revolving Facility [Member] | Claridge Hotel Tower, Atlantic City [Member] | Macau [Member] | CEC (Parent Company) [Member] | CEC (Parent Company) [Member] | CEC (Parent Company) [Member] | CEC (Parent Company) [Member] | CEC (Parent Company) [Member] | CEC (Parent Company) [Member] | Affiliates of Apollo and TPG [Member] | Apollo [Member] | TPG [Member] | Apollo and TPG [Member] | Sterling Suffolk Racecourse, LLC [Member] | Managing/Gaming Rights [Member] | Plan [Member] | Plan [Member] | |||||||||
Subsequent Event [Member] | Caesars Growth Partners, LLC [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Class A Common Stock [Member] | Class A Common Stock [Member] | Class A Common Stock [Member] | Class A Common Stock [Member] | Sterling Suffolk Racecourse, LLC [Member] | CEC (Parent Company) [Member] | CEC (Parent Company) [Member] | |||||||||||||||||
Subsequent Event [Member] | rooms | Caesars Acquisition Company [Member] | Caesars Acquisition Company [Member] | Caesars Acquisition Company [Member] | Caesars Acquisition Company [Member] | ||||||||||||||||||||||||||||
Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | ||||||||||||||||||||||||||||||
Subsequent Event [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Shares authorized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000,000 | |||||
Common stock, par value | $0.01 | ' | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.01 | |||||
Share price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $19.40 | $8.64 | ' | ' | ' | ' | ' | ' | $19.40 | |||||
Proceeds from issuance of common stock | $16,200,000 | $17,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2,800,000 | $200,000 | $15,400,000 | $200,000 | $15,600,000 | $200,600,000 | ' | ' | ' | ' | ' | ' | $6,600,000 | $194,000,000 | |||||
Shares sold during period (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 155,000 | 15,000 | 1,055,493 | 15,000 | ' | 10,300,000 | ' | ' | ' | ' | ' | ' | 340,418 | ' | |||||
Shares sold during period (in dollars) | ' | 17,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 457,800,000 | ' | ' | ' | ' | ' | ' | ' | |||||
Contributed capital | ' | ' | ' | 1,100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Use of proceeds from equity contribution | ' | ' | ' | ' | 360,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Percent of management fee to be purchased | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Debt assumed | ' | ' | ' | ' | ' | ' | 513,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Economic interest | ' | ' | ' | ' | 79.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Common stock subscriptions (in dollars) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 71,100,000 | 71,100,000 | 142,200,000 | ' | ' | ' | ' | |||||
Debt Instrument, Face Amount | 23,847,100,000 | ' | ' | ' | ' | 510,000,000 | ' | 1,000,000,000 | [1] | 1,150,000,000 | [1] | 2,769,500,000 | [1] | 2,500,000,000 | [1] | 269,500,000 | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate | ' | ' | ' | ' | ' | 3.04% | ' | 8.00% | [1] | 11.00% | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Intangible asset | 1,786,800,000 | ' | 1,803,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60,000,000 | ' | ' | |||||
Investment in project | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000,000 | ' | ' | ' | |||||
Number of hotel rooms | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Sale of equity interests in subsidiary, aggregate sales price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 438,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Down payment for sale of equity interests in subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 65,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Net proceeds from sale of equity interests in subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $420,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
[1] | Guaranteed by Caesars Entertainment. |
Condensed_Consolidating_Financ2
Condensed Consolidating Financial Information of Guarantors and Issuers - Condensed Consolidating Balance Sheet (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | ||||
Assets | ' | ' | ' | ' |
Cash and cash equivalents | $1,707.90 | $1,757.50 | $1,185.10 | $891.20 |
Restricted cash | 123.4 | 833.6 | ' | ' |
Receivables, net of allowance for doubtful accounts | 506.9 | 580.5 | ' | ' |
Deferred income taxes | 140.7 | 114.9 | ' | ' |
Prepayments and other current assets | 196.6 | 150 | ' | ' |
Inventories | 43.3 | 52 | ' | ' |
Intercompany receivables | 0 | 0 | ' | ' |
Assets held for sale | 5.4 | 5.1 | ' | ' |
Total current assets | 2,724.20 | 3,493.60 | ' | ' |
Property and equipment, net of accumulated depreciation | 14,916.40 | 15,701.70 | ' | ' |
Goodwill | 3,019.50 | 3,160.30 | ' | ' |
Intangible assets other than goodwill | 3,660.20 | 3,985.70 | ' | ' |
Investments in subsidiaries | 0 | 0 | ' | ' |
Investments in and advances to non-consolidated affiliates | 213.1 | 100.4 | ' | ' |
Restricted cash | 403.6 | 364.6 | ' | ' |
Deferred charges and other | 693.4 | 720.6 | ' | ' |
Intercompany receivables | 0 | 0 | ' | ' |
Assets held for sale | 466 | 471.2 | ' | ' |
Total assets | 26,096.40 | 27,998.10 | ' | ' |
Liabilities and Stockholders’ (Deficit)/Equity | ' | ' | ' | ' |
Accounts payable | 371.8 | 376.2 | ' | ' |
Interest payable | 377.7 | 233.7 | ' | ' |
Accrued expenses | 1,180.90 | 1,094.70 | ' | ' |
Current portion of long-term debt | 166.4 | 879.9 | ' | ' |
Intercompany payables | 0 | 0 | ' | ' |
Liabilities held for sale | 0.7 | 3.8 | ' | ' |
Total current liabilities | 2,097.50 | 2,588.30 | ' | ' |
Long-term debt, face value | 21,173.80 | 20,532.20 | ' | ' |
Accumulated losses of subsidiaries in excess of investment | 0 | 0 | ' | ' |
Deferred credits and other | 739.3 | 823 | ' | ' |
Deferred income taxes | 3,528.30 | 4,334.10 | ' | ' |
Intercompany payables | 0 | 0 | ' | ' |
Liabilities held for sale | 54.3 | 52.1 | ' | ' |
Total liabilities | 27,593.20 | 28,329.70 | ' | ' |
Total Caesars stockholders’ deficit | -1,578.70 | -411.7 | ' | ' |
Noncontrolling interests | 81.9 | 80.1 | ' | ' |
Total (deficit)/equity | -1,496.80 | -331.6 | 114.7 | 1,053.40 |
Total liabilities and stockholder's deficit | 26,096.40 | 27,998.10 | ' | ' |
CEC (Parent Guarantor) [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash and cash equivalents | 222.9 | 7.4 | 19.3 | 3.9 |
Restricted cash | 30.5 | 0 | ' | ' |
Receivables, net of allowance for doubtful accounts | 0 | 0.1 | ' | ' |
Deferred income taxes | 0 | 0 | ' | ' |
Prepayments and other current assets | 1.1 | 5 | ' | ' |
Inventories | 0 | 0 | ' | ' |
Intercompany receivables | 19.9 | 29.6 | ' | ' |
Assets held for sale | 0 | 0 | ' | ' |
Total current assets | 274.4 | 42.1 | ' | ' |
Property and equipment, net of accumulated depreciation | 0 | 0 | ' | ' |
Goodwill | 0 | 0 | ' | ' |
Intangible assets other than goodwill | 0 | 0 | ' | ' |
Investments in subsidiaries | 0 | 0 | ' | ' |
Investments in and advances to non-consolidated affiliates | 0 | 0 | ' | ' |
Restricted cash | 0 | 0 | ' | ' |
Deferred charges and other | 7.6 | 7.5 | ' | ' |
Intercompany receivables | 325.1 | 563.1 | ' | ' |
Assets held for sale | 0 | 0 | ' | ' |
Total assets | 607.1 | 612.7 | ' | ' |
Liabilities and Stockholders’ (Deficit)/Equity | ' | ' | ' | ' |
Accounts payable | 1.4 | 3.9 | ' | ' |
Interest payable | 0 | 0 | ' | ' |
Accrued expenses | 8 | 3.7 | ' | ' |
Current portion of long-term debt | 0 | 0 | ' | ' |
Intercompany payables | 1.8 | 15.9 | ' | ' |
Liabilities held for sale | 0 | 0 | ' | ' |
Total current liabilities | 11.2 | 23.5 | ' | ' |
Long-term debt, face value | 0 | 0 | ' | ' |
Accumulated losses of subsidiaries in excess of investment | 2,082.60 | 925.4 | ' | ' |
Deferred credits and other | 0 | 4.1 | ' | ' |
Deferred income taxes | 0 | 0 | ' | ' |
Intercompany payables | 55 | 55 | ' | ' |
Liabilities held for sale | 0 | 0 | ' | ' |
Total liabilities | 2,148.80 | 1,008 | ' | ' |
Total Caesars stockholders’ deficit | -1,541.70 | -395.3 | ' | ' |
Noncontrolling interests | 0 | 0 | ' | ' |
Total (deficit)/equity | -1,541.70 | -395.3 | ' | ' |
Total liabilities and stockholder's deficit | 607.1 | 612.7 | ' | ' |
Subsidiary Issuer [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash and cash equivalents | 671.5 | 911.9 | 430 | 16.6 |
Restricted cash | 0 | 0 | ' | ' |
Receivables, net of allowance for doubtful accounts | 22.6 | 19.5 | ' | ' |
Deferred income taxes | 52.4 | 17.4 | ' | ' |
Prepayments and other current assets | 13.4 | 8.3 | ' | ' |
Inventories | 0.3 | 0.3 | ' | ' |
Intercompany receivables | 291.6 | 295.5 | ' | ' |
Assets held for sale | 0 | 0 | ' | ' |
Total current assets | 1,051.80 | 1,252.90 | ' | ' |
Property and equipment, net of accumulated depreciation | 187.3 | 189.9 | ' | ' |
Goodwill | 0 | 0 | ' | ' |
Intangible assets other than goodwill | 3.7 | 4.2 | ' | ' |
Investments in subsidiaries | 10,443.20 | 11,669.60 | ' | ' |
Investments in and advances to non-consolidated affiliates | 0 | 0 | ' | ' |
Restricted cash | 0 | 0 | ' | ' |
Deferred charges and other | 301.6 | 298.4 | ' | ' |
Intercompany receivables | 1,088.50 | 1,089.60 | ' | ' |
Assets held for sale | 0 | 0 | ' | ' |
Total assets | 13,076.10 | 14,504.60 | ' | ' |
Liabilities and Stockholders’ (Deficit)/Equity | ' | ' | ' | ' |
Accounts payable | 102.1 | 75.9 | ' | ' |
Interest payable | 357.3 | 176 | ' | ' |
Accrued expenses | 239.6 | 164.7 | ' | ' |
Current portion of long-term debt | 184.8 | 126.2 | ' | ' |
Intercompany payables | 47.5 | 88.1 | ' | ' |
Liabilities held for sale | 0 | 0 | ' | ' |
Total current liabilities | 931.3 | 630.9 | ' | ' |
Long-term debt, face value | 15,989.40 | 15,257 | ' | ' |
Accumulated losses of subsidiaries in excess of investment | 0 | 0 | ' | ' |
Deferred credits and other | 439 | 535 | ' | ' |
Deferred income taxes | -188.1 | 422.6 | ' | ' |
Intercompany payables | 285.4 | 614.5 | ' | ' |
Liabilities held for sale | 0 | 0 | ' | ' |
Total liabilities | 17,457 | 17,460 | ' | ' |
Total Caesars stockholders’ deficit | -4,380.90 | -2,955.40 | ' | ' |
Noncontrolling interests | 0 | 0 | ' | ' |
Total (deficit)/equity | -4,380.90 | -2,955.40 | ' | ' |
Total liabilities and stockholder's deficit | 13,076.10 | 14,504.60 | ' | ' |
Subsidiary Guarantors of Parent and Subsidiary Guaranteed Debt [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash and cash equivalents | 268.9 | 353.8 | 289.8 | 372.5 |
Restricted cash | 1 | 0 | ' | ' |
Receivables, net of allowance for doubtful accounts | 308.1 | 348 | ' | ' |
Deferred income taxes | 68.6 | 75.7 | ' | ' |
Prepayments and other current assets | 77.1 | 66.8 | ' | ' |
Inventories | 27.5 | 31.7 | ' | ' |
Intercompany receivables | 164.3 | 136.8 | ' | ' |
Assets held for sale | 0 | 0 | ' | ' |
Total current assets | 915.5 | 1,012.80 | ' | ' |
Property and equipment, net of accumulated depreciation | 7,797.20 | 8,534.60 | ' | ' |
Goodwill | 1,231.20 | 1,331 | ' | ' |
Intangible assets other than goodwill | 2,914.50 | 3,183 | ' | ' |
Investments in subsidiaries | 897.4 | 920.3 | ' | ' |
Investments in and advances to non-consolidated affiliates | 3.4 | 3 | ' | ' |
Restricted cash | 0 | 0 | ' | ' |
Deferred charges and other | 202.9 | 184.8 | ' | ' |
Intercompany receivables | 585.4 | 585.9 | ' | ' |
Assets held for sale | 7.3 | 0 | ' | ' |
Total assets | 14,554.80 | 15,755.40 | ' | ' |
Liabilities and Stockholders’ (Deficit)/Equity | ' | ' | ' | ' |
Accounts payable | 133.6 | 156.5 | ' | ' |
Interest payable | 0.7 | 0.4 | ' | ' |
Accrued expenses | 385.2 | 434.7 | ' | ' |
Current portion of long-term debt | 16.4 | 10.7 | ' | ' |
Intercompany payables | 331.7 | 284.8 | ' | ' |
Liabilities held for sale | 0 | 0 | ' | ' |
Total current liabilities | 867.6 | 887.1 | ' | ' |
Long-term debt, face value | 78.5 | 64.8 | ' | ' |
Accumulated losses of subsidiaries in excess of investment | 0 | 0 | ' | ' |
Deferred credits and other | 148.1 | 160.2 | ' | ' |
Deferred income taxes | 2,049.30 | 2,188.90 | ' | ' |
Intercompany payables | 871.2 | 871.7 | ' | ' |
Liabilities held for sale | 0 | 0 | ' | ' |
Total liabilities | 4,014.70 | 4,172.70 | ' | ' |
Total Caesars stockholders’ deficit | 10,540.10 | 11,582.70 | ' | ' |
Noncontrolling interests | 0 | 0 | ' | ' |
Total (deficit)/equity | 10,540.10 | 11,582.70 | ' | ' |
Total liabilities and stockholder's deficit | 14,554.80 | 15,755.40 | ' | ' |
Subsidiary Non-Guarantors of Parent and Subsidiary Guaranteed Debt [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash and cash equivalents | 544.6 | 484.4 | 446 | 498.2 |
Restricted cash | 91.9 | 833.6 | ' | ' |
Receivables, net of allowance for doubtful accounts | 176.2 | 212.9 | ' | ' |
Deferred income taxes | 19.7 | 21.8 | ' | ' |
Prepayments and other current assets | 105 | 69.9 | ' | ' |
Inventories | 15.5 | 20 | ' | ' |
Intercompany receivables | 93.5 | 97.2 | ' | ' |
Assets held for sale | 5.4 | 5.1 | ' | ' |
Total current assets | 1,051.80 | 1,744.90 | ' | ' |
Property and equipment, net of accumulated depreciation | 6,935.40 | 6,977.20 | ' | ' |
Goodwill | 1,788.30 | 1,829.30 | ' | ' |
Intangible assets other than goodwill | 742 | 798.5 | ' | ' |
Investments in subsidiaries | 953.9 | 790.7 | ' | ' |
Investments in and advances to non-consolidated affiliates | 209.7 | 97.4 | ' | ' |
Restricted cash | 403.6 | 364.6 | ' | ' |
Deferred charges and other | 186.6 | 236.6 | ' | ' |
Intercompany receivables | 55 | 153.8 | ' | ' |
Assets held for sale | 458.7 | 471.2 | ' | ' |
Total assets | 12,785 | 13,464.20 | ' | ' |
Liabilities and Stockholders’ (Deficit)/Equity | ' | ' | ' | ' |
Accounts payable | 134.7 | 139.9 | ' | ' |
Interest payable | 19.7 | 57.3 | ' | ' |
Accrued expenses | 548.1 | 491.6 | ' | ' |
Current portion of long-term debt | 9 | 743 | ' | ' |
Intercompany payables | 188.3 | 170.3 | ' | ' |
Liabilities held for sale | 0.7 | 3.8 | ' | ' |
Total current liabilities | 900.5 | 1,605.90 | ' | ' |
Long-term debt, face value | 6,079.90 | 6,122.90 | ' | ' |
Accumulated losses of subsidiaries in excess of investment | 0 | 0 | ' | ' |
Deferred credits and other | 152.2 | 123.7 | ' | ' |
Deferred income taxes | 1,703 | 1,714.70 | ' | ' |
Intercompany payables | 842.5 | 851.2 | ' | ' |
Liabilities held for sale | 54.3 | 52.1 | ' | ' |
Total liabilities | 9,732.40 | 10,470.50 | ' | ' |
Total Caesars stockholders’ deficit | 2,970.70 | 2,913.60 | ' | ' |
Noncontrolling interests | 81.9 | 80.1 | ' | ' |
Total (deficit)/equity | 3,052.60 | 2,993.70 | ' | ' |
Total liabilities and stockholder's deficit | 12,785 | 13,464.20 | ' | ' |
Subsidiary Non-Guarantors of Parent-Only Guaranteed Debt [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash and cash equivalents | 813.5 | 838.2 | 735.8 | 870.7 |
Restricted cash | 92.9 | 833.6 | ' | ' |
Receivables, net of allowance for doubtful accounts | 484.3 | 560.9 | ' | ' |
Deferred income taxes | 88.3 | 97.5 | ' | ' |
Prepayments and other current assets | 182.1 | 136.7 | ' | ' |
Inventories | 43 | 51.7 | ' | ' |
Intercompany receivables | 257.8 | 234 | ' | ' |
Assets held for sale | 5.4 | 5.1 | ' | ' |
Total current assets | 1,967.30 | 2,757.70 | ' | ' |
Property and equipment, net of accumulated depreciation | 14,732.60 | 15,511.80 | ' | ' |
Goodwill | 3,019.50 | 3,160.30 | ' | ' |
Intangible assets other than goodwill | 3,656.50 | 3,981.50 | ' | ' |
Investments in subsidiaries | 1,851.30 | 1,711 | ' | ' |
Investments in and advances to non-consolidated affiliates | 213.1 | 100.4 | ' | ' |
Restricted cash | 403.6 | 364.6 | ' | ' |
Deferred charges and other | 389.5 | 421.4 | ' | ' |
Intercompany receivables | 640.4 | 739.7 | ' | ' |
Assets held for sale | 466 | 471.2 | ' | ' |
Total assets | 27,339.80 | 29,219.60 | ' | ' |
Liabilities and Stockholders’ (Deficit)/Equity | ' | ' | ' | ' |
Accounts payable | 268.3 | 296.4 | ' | ' |
Interest payable | 20.4 | 57.7 | ' | ' |
Accrued expenses | 933.3 | 926.3 | ' | ' |
Current portion of long-term debt | 25.4 | 753.7 | ' | ' |
Intercompany payables | 520 | 455.1 | ' | ' |
Liabilities held for sale | 0.7 | 3.8 | ' | ' |
Total current liabilities | 1,768.10 | 2,493 | ' | ' |
Long-term debt, face value | 6,158.40 | 6,187.70 | ' | ' |
Accumulated losses of subsidiaries in excess of investment | 0 | 0 | ' | ' |
Deferred credits and other | 300.3 | 283.9 | ' | ' |
Deferred income taxes | 3,752.30 | 3,903.60 | ' | ' |
Intercompany payables | 1,713.70 | 1,722.90 | ' | ' |
Liabilities held for sale | 54.3 | 52.1 | ' | ' |
Total liabilities | 13,747.10 | 14,643.20 | ' | ' |
Total Caesars stockholders’ deficit | 13,510.80 | 14,496.30 | ' | ' |
Noncontrolling interests | 81.9 | 80.1 | ' | ' |
Total (deficit)/equity | 13,592.70 | 14,576.40 | ' | ' |
Total liabilities and stockholder's deficit | 27,339.80 | 29,219.60 | ' | ' |
Consolidating/ Eliminating Adjustments [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Restricted cash | 0 | 0 | ' | ' |
Receivables, net of allowance for doubtful accounts | 0 | 0 | ' | ' |
Deferred income taxes | 0 | 0 | ' | ' |
Prepayments and other current assets | 0 | 0 | ' | ' |
Inventories | 0 | 0 | ' | ' |
Intercompany receivables | -569.3 | -559.1 | ' | ' |
Assets held for sale | 0 | 0 | ' | ' |
Total current assets | -569.3 | -559.1 | ' | ' |
Property and equipment, net of accumulated depreciation | -3.5 | 0 | ' | ' |
Goodwill | 0 | 0 | ' | ' |
Intangible assets other than goodwill | 0 | 0 | ' | ' |
Investments in subsidiaries | -12,294.50 | -13,380.60 | ' | ' |
Investments in and advances to non-consolidated affiliates | 0 | 0 | ' | ' |
Restricted cash | 0 | 0 | ' | ' |
Deferred charges and other | -5.3 | -6.7 | ' | ' |
Intercompany receivables | -2,054 | -2,392.40 | ' | ' |
Assets held for sale | 0 | 0 | ' | ' |
Total assets | -14,926.60 | -16,338.80 | ' | ' |
Liabilities and Stockholders’ (Deficit)/Equity | ' | ' | ' | ' |
Accounts payable | 0 | 0 | ' | ' |
Interest payable | 0 | 0 | ' | ' |
Accrued expenses | 0 | 0 | ' | ' |
Current portion of long-term debt | -43.8 | 0 | ' | ' |
Intercompany payables | -569.3 | -559.1 | ' | ' |
Liabilities held for sale | 0 | 0 | ' | ' |
Total current liabilities | -613.1 | -559.1 | ' | ' |
Long-term debt, face value | -974 | -912.5 | ' | ' |
Accumulated losses of subsidiaries in excess of investment | -2,082.60 | -925.4 | ' | ' |
Deferred credits and other | 0 | 0 | ' | ' |
Deferred income taxes | -35.9 | 7.9 | ' | ' |
Intercompany payables | -2,054.10 | -2,392.40 | ' | ' |
Liabilities held for sale | 0 | 0 | ' | ' |
Total liabilities | -5,759.70 | -4,781.50 | ' | ' |
Total Caesars stockholders’ deficit | -9,166.90 | -11,557.30 | ' | ' |
Noncontrolling interests | 0 | 0 | ' | ' |
Total (deficit)/equity | -9,166.90 | -11,557.30 | ' | ' |
Total liabilities and stockholder's deficit | ($14,926.60) | ($16,338.80) | ' | ' |
Condensed_Consolidating_Financ3
Condensed Consolidating Financial Information of Guarantors and Issuers - Condensed Consolidating Statement of Comprehensive (Loss)/Income (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Revenues | ' | ' | ' | ' |
Casino | $1,466.60 | $1,578.80 | $4,396.80 | $4,755.70 |
Food and beverage | 382.9 | 389.2 | 1,149.20 | 1,156.60 |
Rooms | 318.5 | 312.1 | 929 | 932.3 |
Management fees | 14.5 | 12.5 | 42.3 | 34.4 |
Other | 225.4 | 203.5 | 642.5 | 580.5 |
Reimbursable management costs | 72.7 | 22.3 | 203.2 | 43.5 |
Less: casino promotional allowances | -300.6 | -322.6 | -881.7 | -937.4 |
Net revenues | 2,180 | 2,195.80 | 6,481.30 | 6,565.60 |
Direct | ' | ' | ' | ' |
Casino | 803.2 | 902.2 | 2,457.60 | 2,725.10 |
Food and beverage | 168.8 | 169.8 | 503.5 | 501.3 |
Rooms | 76.9 | 74.3 | 232.4 | 230.1 |
Property, general, administrative, and other | 548.2 | 519 | 1,592.80 | 1,529.50 |
Reimbursable management costs | 72.7 | 22.3 | 203.2 | 43.5 |
Depreciation and amortization | 130.2 | 178.8 | 433.2 | 533.8 |
Write-downs, reserves, and project opening costs, net of recoveries | 0.5 | 32.8 | 44.7 | 56.9 |
Intangible and tangible asset impairment charges | 930.9 | 419 | 1,055.60 | 626 |
(Income)/loss on interests in non-consolidated affiliates | 4 | -1.5 | 20.4 | 8.8 |
Loss/(income) on interests in subsidiaries | 0 | 0 | 0 | 0 |
Corporate expense | 37 | 51.7 | 114.3 | 145.2 |
Acquisition and integration costs | 3.2 | 1 | 69.6 | 2.2 |
Amortization of intangible assets | 41.9 | 43.2 | 124.4 | 129.6 |
Total operating expenses | 2,817.50 | 2,412.60 | 6,851.70 | 6,532 |
(Loss)/income from operations | -637.5 | -216.8 | -370.4 | 33.6 |
Interest expense, net of interest capitalized | -563 | -515.8 | -1,677.70 | -1,574.30 |
(Loss)/gains on early extinguishments of debt | 13 | 0 | 17.5 | 79.5 |
Gain on partial sale of subsidiary | 0 | 0 | 44.1 | 0 |
Other income, including interest income | 0.5 | 4.7 | 8.9 | 19.4 |
Loss from continuing operations before income taxes | -1,187 | -727.9 | -1,977.60 | -1,441.80 |
Benefit for income taxes | 413.4 | 225.3 | 819.3 | 489.5 |
Loss from continuing operations, net of income taxes | -773.6 | -502.6 | -1,158.30 | -952.3 |
Discontinued operations | ' | ' | ' | ' |
Income/(loss) from discontinued operations | 14.9 | 0.8 | -29.3 | -69.4 |
(Provision)/benefit for income taxes | -3.1 | -1.6 | -0.2 | -4.6 |
Income/(loss) from discontinued operations, net of income taxes | 11.8 | -0.8 | -29.5 | -74 |
Net (loss)/income | -761.8 | -503.4 | -1,187.80 | -1,026.30 |
Less: net (income)/loss attributable to non-controlling interests | 0.4 | -2.1 | -3.5 | -1.5 |
Net loss attributable to Caesars | -761.4 | -505.5 | -1,191.30 | -1,027.80 |
Other comprehensive (loss)/income: | ' | ' | ' | ' |
Total other comprehensive (loss)/income, net of income taxes | -1.9 | -1.5 | -24.8 | 10.7 |
Less: foreign currency translation adjustments attributable to noncontrolling interests, net of income taxes | 0 | 0.2 | 0.1 | -1.3 |
Comprehensive loss attributable to Caesars | -763.3 | -506.8 | -1,216 | -1,018.40 |
CEC (Parent Guarantor) [Member] | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' |
Casino | 0 | 0 | 0 | 0 |
Food and beverage | 0 | 0 | 0 | 0 |
Rooms | 0 | 0 | 0 | 0 |
Management fees | 0 | 0 | 0 | 0 |
Other | 0 | 0 | 0 | 0 |
Reimbursable management costs | 0 | 0 | 0 | 0 |
Less: casino promotional allowances | 0 | 0 | 0 | 0 |
Net revenues | 0 | 0 | 0 | 0 |
Direct | ' | ' | ' | ' |
Casino | 0 | 0 | 0 | 0 |
Food and beverage | 0 | 0 | 0 | 0 |
Rooms | 0 | 0 | 0 | 0 |
Property, general, administrative, and other | 0 | 0 | 0 | 0 |
Reimbursable management costs | 0 | 0 | 0 | 0 |
Depreciation and amortization | 0 | 0 | 0 | 0 |
Write-downs, reserves, and project opening costs, net of recoveries | 0 | 0 | 0 | 0 |
Intangible and tangible asset impairment charges | 0 | 0 | ' | 0 |
(Income)/loss on interests in non-consolidated affiliates | 0 | 0 | 0 | 0 |
Loss/(income) on interests in subsidiaries | 750.4 | 503.9 | 1,178.90 | 1,024.20 |
Corporate expense | 6.8 | 6.4 | 14.7 | 18.5 |
Acquisition and integration costs | 0 | 0 | 0 | 0 |
Amortization of intangible assets | 0 | 0 | 0 | 0 |
Total operating expenses | 757.2 | 510.3 | 1,193.60 | 1,042.70 |
(Loss)/income from operations | -757.2 | -510.3 | -1,193.60 | -1,042.70 |
Interest expense, net of interest capitalized | -0.6 | -0.4 | 2.9 | -0.4 |
(Loss)/gains on early extinguishments of debt | 0 | ' | 0 | 0 |
Gain on partial sale of subsidiary | ' | ' | 0 | ' |
Other income, including interest income | 3.8 | 4.3 | 19.9 | 13.3 |
Loss from continuing operations before income taxes | -754 | -506.4 | -1,170.80 | -1,029.80 |
Benefit for income taxes | 1.3 | 0.9 | 0 | 2 |
Loss from continuing operations, net of income taxes | -752.7 | -505.5 | -1,170.80 | -1,027.80 |
Discontinued operations | ' | ' | ' | ' |
Income/(loss) from discontinued operations | 0 | 0 | 0 | 0 |
(Provision)/benefit for income taxes | 0 | 0 | 0 | 0 |
Income/(loss) from discontinued operations, net of income taxes | 0 | 0 | 0 | 0 |
Net (loss)/income | -752.7 | -505.5 | -1,170.80 | -1,027.80 |
Less: net (income)/loss attributable to non-controlling interests | 0 | 0 | 0 | 0 |
Net loss attributable to Caesars | -752.7 | -505.5 | -1,170.80 | -1,027.80 |
Other comprehensive (loss)/income: | ' | ' | ' | ' |
Total other comprehensive (loss)/income, net of income taxes | 0 | 0 | 0 | 0 |
Less: foreign currency translation adjustments attributable to noncontrolling interests, net of income taxes | 0 | 0 | 0 | 0 |
Comprehensive loss attributable to Caesars | -752.7 | -505.5 | -1,170.80 | -1,027.80 |
Subsidiary Issuer [Member] | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' |
Casino | 16.4 | 16.1 | 44.9 | 41.7 |
Food and beverage | 3.7 | 3.6 | 10 | 9.6 |
Rooms | 5 | 5.7 | 13 | 14.2 |
Management fees | 0.3 | 0 | 0.3 | 2.2 |
Other | 15.9 | 9.8 | 41.2 | 30.1 |
Reimbursable management costs | 0 | 0 | 0 | 0 |
Less: casino promotional allowances | -5.3 | -5.8 | -13.7 | -14.8 |
Net revenues | 36 | 29.4 | 95.7 | 83 |
Direct | ' | ' | ' | ' |
Casino | 10.1 | 10.1 | 27.9 | 28 |
Food and beverage | 1.6 | 1.5 | 4.3 | 4.6 |
Rooms | 0.7 | 0.5 | 1.8 | 1.3 |
Property, general, administrative, and other | 11.1 | 0 | 17 | 12.2 |
Reimbursable management costs | 0 | 0 | 0 | 0 |
Depreciation and amortization | 0.9 | 1.7 | 2.9 | 5.1 |
Write-downs, reserves, and project opening costs, net of recoveries | 0.1 | 0.9 | 0.5 | 5.5 |
Intangible and tangible asset impairment charges | 0 | 0 | 0 | 0 |
(Income)/loss on interests in non-consolidated affiliates | 0 | 0 | 0 | 0 |
Loss/(income) on interests in subsidiaries | 489.2 | 224 | 312.9 | 219 |
Corporate expense | 18.9 | 34.9 | 74.9 | 98.4 |
Acquisition and integration costs | 3.5 | 0.2 | 20 | 0.9 |
Amortization of intangible assets | 0.2 | 0.2 | 0.5 | 0.5 |
Total operating expenses | 536.3 | 274 | 462.7 | 375.5 |
(Loss)/income from operations | -500.3 | -244.6 | -367 | -292.5 |
Interest expense, net of interest capitalized | -527.9 | -482 | -1,542.60 | -1,452.90 |
(Loss)/gains on early extinguishments of debt | 0 | ' | -29.4 | 0 |
Gain on partial sale of subsidiary | ' | ' | 0 | ' |
Other income, including interest income | 19.3 | 10.7 | 49.1 | 40 |
Loss from continuing operations before income taxes | -1,008.90 | -715.9 | -1,889.90 | -1,705.40 |
Benefit for income taxes | 186.7 | 171 | 559.9 | 525.1 |
Loss from continuing operations, net of income taxes | -822.2 | -544.9 | -1,330 | -1,180.30 |
Discontinued operations | ' | ' | ' | ' |
Income/(loss) from discontinued operations | 0 | 0 | 0 | 0 |
(Provision)/benefit for income taxes | 0 | 0 | 0 | 0 |
Income/(loss) from discontinued operations, net of income taxes | 0 | 0 | 0 | 0 |
Net (loss)/income | -822.2 | -544.9 | -1,330 | -1,180.30 |
Less: net (income)/loss attributable to non-controlling interests | 0 | 0 | 0 | 0 |
Net loss attributable to Caesars | -822.2 | -544.9 | -1,330 | -1,180.30 |
Other comprehensive (loss)/income: | ' | ' | ' | ' |
Total other comprehensive (loss)/income, net of income taxes | 18.8 | 6.8 | 5.9 | -19 |
Less: foreign currency translation adjustments attributable to noncontrolling interests, net of income taxes | 0 | 0 | 0 | 0 |
Comprehensive loss attributable to Caesars | -803.4 | -538.1 | -1,324.10 | -1,199.30 |
Subsidiary Guarantors of Parent and Subsidiary Guaranteed Debt [Member] | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' |
Casino | 942.7 | 981.8 | 2,723.10 | 2,948.60 |
Food and beverage | 211.5 | 211.2 | 624.3 | 624.5 |
Rooms | 165 | 164.8 | 478.5 | 485.7 |
Management fees | 12.5 | 12.4 | 43.2 | 42.4 |
Other | 87.3 | 92.2 | 252.9 | 270 |
Reimbursable management costs | 9 | 7.8 | 25.3 | 21 |
Less: casino promotional allowances | -182 | -195.2 | -522.1 | -559.4 |
Net revenues | 1,246 | 1,275 | 3,625.20 | 3,832.80 |
Direct | ' | ' | ' | ' |
Casino | 516 | 560.6 | 1,553.90 | 1,692.40 |
Food and beverage | 88 | 85.6 | 260.7 | 251.7 |
Rooms | 36.3 | 35 | 111.3 | 109.1 |
Property, general, administrative, and other | 309.4 | 290 | 878.8 | 851.6 |
Reimbursable management costs | 9 | 7.8 | 25.3 | 21 |
Depreciation and amortization | 79.3 | 112.4 | 266 | 330.8 |
Write-downs, reserves, and project opening costs, net of recoveries | 4.4 | 32.5 | 26 | 48.3 |
Intangible and tangible asset impairment charges | 889.9 | 416 | 990.2 | 616.5 |
(Income)/loss on interests in non-consolidated affiliates | -0.1 | -0.2 | -0.5 | 0.6 |
Loss/(income) on interests in subsidiaries | 30.1 | -4.1 | 23.2 | 0.8 |
Corporate expense | 8.6 | 8.1 | 17.2 | 21.9 |
Acquisition and integration costs | -0.2 | 0 | 0.1 | 0 |
Amortization of intangible assets | 22 | 26.3 | 66.3 | 75.9 |
Total operating expenses | 1,992.70 | 1,570 | 4,218.50 | 4,020.60 |
(Loss)/income from operations | -746.7 | -295 | -593.3 | -187.8 |
Interest expense, net of interest capitalized | -14.5 | -7.2 | -43.7 | -21.8 |
(Loss)/gains on early extinguishments of debt | 0 | ' | 0 | 0 |
Gain on partial sale of subsidiary | ' | ' | -8.9 | ' |
Other income, including interest income | 5.2 | 5.3 | 15.2 | 16.1 |
Loss from continuing operations before income taxes | -756 | -296.9 | -630.7 | -193.5 |
Benefit for income taxes | 257 | 57.5 | 315.1 | 18.2 |
Loss from continuing operations, net of income taxes | -499 | -239.4 | -315.6 | -175.3 |
Discontinued operations | ' | ' | ' | ' |
Income/(loss) from discontinued operations | 0 | 4.6 | -0.8 | 46.5 |
(Provision)/benefit for income taxes | -0.1 | -0.8 | 0.3 | -8.3 |
Income/(loss) from discontinued operations, net of income taxes | -0.1 | 3.8 | -0.5 | 38.2 |
Net (loss)/income | -499.1 | -235.6 | -316.1 | -137.1 |
Less: net (income)/loss attributable to non-controlling interests | 0 | 0 | 0 | 0 |
Net loss attributable to Caesars | -499.1 | -235.6 | -316.1 | -137.1 |
Other comprehensive (loss)/income: | ' | ' | ' | ' |
Total other comprehensive (loss)/income, net of income taxes | 0 | 0 | 0 | 0 |
Less: foreign currency translation adjustments attributable to noncontrolling interests, net of income taxes | 0 | 0 | 0 | 0 |
Comprehensive loss attributable to Caesars | -499.1 | -235.6 | -316.1 | -137.1 |
Subsidiary Non-Guarantors of Parent and Subsidiary Guaranteed Debt [Member] | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' |
Casino | 507.5 | 580.9 | 1,628.80 | 1,765.40 |
Food and beverage | 167.7 | 174.4 | 514.9 | 522.5 |
Rooms | 148.5 | 141.6 | 437.5 | 432.4 |
Management fees | 6 | 4.8 | 17.1 | 7.8 |
Other | 172 | 142.3 | 488.5 | 406.3 |
Reimbursable management costs | 63.7 | 14.5 | 177.9 | 22.5 |
Less: casino promotional allowances | -113.3 | -121.6 | -345.9 | -363.2 |
Net revenues | 952.1 | 936.9 | 2,918.80 | 2,793.70 |
Direct | ' | ' | ' | ' |
Casino | 277.1 | 331.5 | 875.8 | 1,004.70 |
Food and beverage | 79.2 | 82.7 | 238.5 | 245 |
Rooms | 39.9 | 38.8 | 119.3 | 119.7 |
Property, general, administrative, and other | 272.4 | 266.7 | 825.4 | 784.7 |
Reimbursable management costs | 63.7 | 14.5 | 177.9 | 22.5 |
Depreciation and amortization | 50 | 64.7 | 164.4 | 197.9 |
Write-downs, reserves, and project opening costs, net of recoveries | -4 | -0.6 | 18.2 | 3.1 |
Intangible and tangible asset impairment charges | 41 | 3 | 65.4 | 9.5 |
(Income)/loss on interests in non-consolidated affiliates | 4.1 | -1.3 | 20.9 | 8.2 |
Loss/(income) on interests in subsidiaries | 0 | 0 | 0 | 0 |
Corporate expense | 12.1 | 10.1 | 37.4 | 31.3 |
Acquisition and integration costs | -0.1 | 0.8 | 49.5 | 1.3 |
Amortization of intangible assets | 19.7 | 16.7 | 57.6 | 53.2 |
Total operating expenses | 855.1 | 827.6 | 2,650.30 | 2,481.10 |
(Loss)/income from operations | 97 | 109.3 | 268.5 | 312.6 |
Interest expense, net of interest capitalized | -78.6 | -76.9 | -265 | -248.7 |
(Loss)/gains on early extinguishments of debt | 13 | ' | 46.9 | 79.5 |
Gain on partial sale of subsidiary | ' | ' | 53 | ' |
Other income, including interest income | 43.6 | 35.1 | 134.9 | 99.5 |
Loss from continuing operations before income taxes | 75 | 67.5 | 238.3 | 242.9 |
Benefit for income taxes | -36.1 | -5.1 | -66.7 | -65.5 |
Loss from continuing operations, net of income taxes | 38.9 | 62.4 | 171.6 | 177.4 |
Discontinued operations | ' | ' | ' | ' |
Income/(loss) from discontinued operations | 14.9 | -3.8 | -28.5 | -115.9 |
(Provision)/benefit for income taxes | -3 | 0.2 | -0.5 | 13.4 |
Income/(loss) from discontinued operations, net of income taxes | 11.9 | -3.6 | -29 | -102.5 |
Net (loss)/income | 50.8 | 58.8 | 142.6 | 74.9 |
Less: net (income)/loss attributable to non-controlling interests | 0.4 | -2.1 | -3.5 | -1.5 |
Net loss attributable to Caesars | 51.2 | 56.7 | 139.1 | 73.4 |
Other comprehensive (loss)/income: | ' | ' | ' | ' |
Total other comprehensive (loss)/income, net of income taxes | -5.8 | -8.3 | -10.8 | 29.7 |
Less: foreign currency translation adjustments attributable to noncontrolling interests, net of income taxes | 0 | 0.2 | 0.1 | -1.3 |
Comprehensive loss attributable to Caesars | 45.4 | 48.6 | 128.4 | 101.8 |
Subsidiary Non-Guarantors of Parent-Only Guaranteed Debt [Member] | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' |
Casino | 1,450.20 | 1,562.70 | 4,351.90 | 4,714 |
Food and beverage | 379.2 | 385.6 | 1,139.20 | 1,147 |
Rooms | 313.5 | 306.4 | 916 | 918.1 |
Management fees | 18.5 | 17.2 | 60.3 | 50.2 |
Other | 259.3 | 234.5 | 741.4 | 676.3 |
Reimbursable management costs | 72.7 | 22.3 | 203.2 | 43.5 |
Less: casino promotional allowances | -295.3 | -316.8 | -868 | -922.6 |
Net revenues | 2,198.10 | 2,211.90 | 6,544 | 6,626.50 |
Direct | ' | ' | ' | ' |
Casino | 793.1 | 892.1 | 2,429.70 | 2,697.10 |
Food and beverage | 167.2 | 168.3 | 499.2 | 496.7 |
Rooms | 76.2 | 73.8 | 230.6 | 228.8 |
Property, general, administrative, and other | 581.8 | 556.7 | 1,704.20 | 1,636.30 |
Reimbursable management costs | 72.7 | 22.3 | 203.2 | 43.5 |
Depreciation and amortization | 129.3 | 177.1 | 430.4 | 528.7 |
Write-downs, reserves, and project opening costs, net of recoveries | 0.4 | 31.9 | 44.2 | 51.4 |
Intangible and tangible asset impairment charges | 930.9 | 419 | 1,055.60 | 626 |
(Income)/loss on interests in non-consolidated affiliates | 4 | -1.5 | 20.4 | 8.8 |
Loss/(income) on interests in subsidiaries | 30.1 | -4.1 | 23.2 | 0.8 |
Corporate expense | 20.7 | 18.2 | 54.6 | 53.2 |
Acquisition and integration costs | -0.3 | 0.8 | 49.6 | 1.3 |
Amortization of intangible assets | 41.7 | 43 | 123.9 | 129.1 |
Total operating expenses | 2,847.80 | 2,397.60 | 6,868.80 | 6,501.70 |
(Loss)/income from operations | -649.7 | -185.7 | -324.8 | 124.8 |
Interest expense, net of interest capitalized | -93.1 | -84.1 | -308.7 | -270.5 |
(Loss)/gains on early extinguishments of debt | 13 | ' | 46.9 | 79.5 |
Gain on partial sale of subsidiary | ' | ' | 44.1 | ' |
Other income, including interest income | 48.8 | 40.4 | 150.1 | 115.6 |
Loss from continuing operations before income taxes | -681 | -229.4 | -392.4 | 49.4 |
Benefit for income taxes | 220.9 | 52.4 | 248.4 | -47.3 |
Loss from continuing operations, net of income taxes | -460.1 | -177 | -144 | 2.1 |
Discontinued operations | ' | ' | ' | ' |
Income/(loss) from discontinued operations | 14.9 | 0.8 | -29.3 | -69.4 |
(Provision)/benefit for income taxes | -3.1 | -0.6 | -0.2 | 5.1 |
Income/(loss) from discontinued operations, net of income taxes | 11.8 | 0.2 | -29.5 | -64.3 |
Net (loss)/income | -448.3 | -176.8 | -173.5 | -62.2 |
Less: net (income)/loss attributable to non-controlling interests | 0.4 | -2.1 | -3.5 | -1.5 |
Net loss attributable to Caesars | -447.9 | -178.9 | -177 | -63.7 |
Other comprehensive (loss)/income: | ' | ' | ' | ' |
Total other comprehensive (loss)/income, net of income taxes | -5.8 | -8.3 | -10.8 | 29.7 |
Less: foreign currency translation adjustments attributable to noncontrolling interests, net of income taxes | 0 | 0.2 | 0.1 | -1.3 |
Comprehensive loss attributable to Caesars | -453.7 | -187 | -187.7 | -35.3 |
Consolidating/ Eliminating Adjustments [Member] | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' |
Casino | 0 | 0 | 0 | 0 |
Food and beverage | 0 | 0 | 0 | 0 |
Rooms | 0 | 0 | 0 | 0 |
Management fees | -4.3 | -4.7 | -18.3 | -18 |
Other | -49.8 | -40.8 | -140.1 | -125.9 |
Reimbursable management costs | 0 | 0 | 0 | 0 |
Less: casino promotional allowances | 0 | 0 | 0 | 0 |
Net revenues | -54.1 | -45.5 | -158.4 | -143.9 |
Direct | ' | ' | ' | ' |
Casino | 0 | 0 | 0 | 0 |
Food and beverage | 0 | 0 | 0 | 0 |
Rooms | 0 | 0 | 0 | 0 |
Property, general, administrative, and other | -44.7 | -37.7 | -128.4 | -119 |
Reimbursable management costs | 0 | 0 | 0 | 0 |
Depreciation and amortization | 0 | 0 | -0.1 | 0 |
Write-downs, reserves, and project opening costs, net of recoveries | 0 | 0 | 0 | 0 |
Intangible and tangible asset impairment charges | 0 | 0 | 0 | 0 |
(Income)/loss on interests in non-consolidated affiliates | 0 | 0 | 0 | 0 |
Loss/(income) on interests in subsidiaries | -1,269.70 | -723.8 | -1,515 | -1,244 |
Corporate expense | -9.4 | -7.8 | -29.9 | -24.9 |
Acquisition and integration costs | 0 | 0 | 0 | 0 |
Amortization of intangible assets | 0 | 0 | 0 | 0 |
Total operating expenses | -1,323.80 | -769.3 | -1,673.40 | -1,387.90 |
(Loss)/income from operations | 1,269.70 | 723.8 | 1,515 | 1,244 |
Interest expense, net of interest capitalized | 58.6 | 50.7 | 170.7 | 149.5 |
(Loss)/gains on early extinguishments of debt | 0 | ' | 0 | 0 |
Gain on partial sale of subsidiary | ' | ' | 0 | ' |
Other income, including interest income | -71.4 | -50.7 | -210.2 | -149.5 |
Loss from continuing operations before income taxes | 1,256.90 | 723.8 | 1,475.50 | 1,244 |
Benefit for income taxes | 4.5 | 1 | 11 | 9.7 |
Loss from continuing operations, net of income taxes | 1,261.40 | 724.8 | 1,486.50 | 1,253.70 |
Discontinued operations | ' | ' | ' | ' |
Income/(loss) from discontinued operations | 0 | 0 | 0 | 0 |
(Provision)/benefit for income taxes | 0 | -1 | 0 | -9.7 |
Income/(loss) from discontinued operations, net of income taxes | 0 | -1 | 0 | -9.7 |
Net (loss)/income | 1,261.40 | 723.8 | 1,486.50 | 1,244 |
Less: net (income)/loss attributable to non-controlling interests | 0 | 0 | 0 | 0 |
Net loss attributable to Caesars | 1,261.40 | 723.8 | 1,486.50 | 1,244 |
Other comprehensive (loss)/income: | ' | ' | ' | ' |
Total other comprehensive (loss)/income, net of income taxes | -14.9 | 0 | -19.9 | 0 |
Less: foreign currency translation adjustments attributable to noncontrolling interests, net of income taxes | 0 | 0 | 0 | 0 |
Comprehensive loss attributable to Caesars | $1,246.50 | $723.80 | $1,466.60 | $1,244 |
Condensed_Consolidating_Financ4
Condensed Consolidating Financial Information of Guarantors and Issuers - Condensed Consolidating Statement of Cash Flows (Detail) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Cash flows provided by/(used in) operating activities | ($11) | $257.40 |
Cash flows from investing activities | ' | ' |
Acquisitions of property and equipment, net of change in related payables | -466.7 | -303.4 |
Change in restricted cash | 671.2 | -551 |
Payments to acquire businesses, net of transaction costs and cash acquired | -8.6 | 7.7 |
Cash received in conjunction with the sale of a subsidiary, net of cash contributed | 0 | 42.4 |
Investments in/advances to non-consolidated affiliates | -36.2 | -22.8 |
Return of investment in subsidiary | ' | 0 |
Proceeds from partial sale of subsidiary, net of cash deconsolidated | 50.4 | 0 |
Purchase of additional interests in subsidiaries | 0 | 0 |
Dividends received | 0 | ' |
Purchases of investment securities | -26.7 | -36 |
Proceeds from the sale and maturity of investment securities | 55.8 | 27 |
Other | -14.1 | -6.3 |
Cash flows provided by/(used in) investing activities | 225.1 | -842.4 |
Cash flows from financing activities | ' | ' |
Proceeds from the issuance of long-term debt | 1,808.10 | 2,469.40 |
Assumption of debt by non-guarantors | 0 | 0 |
Debt issuance costs and fees | -57.8 | -31.9 |
Borrowings under lending agreements | 0 | 453 |
Purchase of additional interests in subsidiary | -9.9 | -9.6 |
Repayments under lending agreements | 0 | -608 |
Cash paid for early extinguishments of debt | -2,067.80 | -1,450.60 |
Cash paid for loan maturity extension fees | -23.3 | 0 |
Scheduled debt retirements | -9.6 | -12.7 |
Dividends paid | 0 | ' |
Contributions from noncontrolling interest owners | 35.3 | 0 |
Proceeds from sale of additional interest in a subsidiary | 0 | 32.2 |
Issuance of common stock, net of fees | 16.2 | 17.4 |
Other | -21.1 | -9.2 |
Transfers from/(to) affiliates | 0 | 0 |
Cash flows (used in)/provided by financing activities | -329.9 | 850 |
Cash flows from discontinued operations | ' | ' |
Cash flows from operating activities | 0.7 | 29.3 |
Cash flows from investing activities | 65.7 | -2.9 |
Net cash provided by discontinued operations | 66.4 | 26.4 |
Net (decrease)/increase in cash and cash equivalents | -49.4 | 291.4 |
Change in cash classified as assets held for sale | -0.2 | 2.5 |
Cash and cash equivalents, beginning of period | 1,757.50 | 891.2 |
Cash and cash equivalents, end of period | 1,707.90 | 1,185.10 |
CEC (Parent Guarantor) [Member] | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Cash flows provided by/(used in) operating activities | 313.8 | 262.5 |
Cash flows from investing activities | ' | ' |
Acquisitions of property and equipment, net of change in related payables | 0 | 0 |
Change in restricted cash | -30.5 | 0 |
Payments to acquire businesses, net of transaction costs and cash acquired | 0 | 0 |
Cash received in conjunction with the sale of a subsidiary, net of cash contributed | ' | 0 |
Investments in/advances to non-consolidated affiliates | 0 | 0 |
Return of investment in subsidiary | ' | 0 |
Proceeds from partial sale of subsidiary, net of cash deconsolidated | 0 | ' |
Purchase of additional interests in subsidiaries | -321.8 | -127.7 |
Dividends received | 0 | ' |
Purchases of investment securities | 0 | 0 |
Proceeds from the sale and maturity of investment securities | 0 | 0 |
Other | -0.2 | -0.6 |
Cash flows provided by/(used in) investing activities | -352.5 | -128.3 |
Cash flows from financing activities | ' | ' |
Proceeds from the issuance of long-term debt | 0 | 0 |
Assumption of debt by non-guarantors | 0 | 0 |
Debt issuance costs and fees | 0 | 0 |
Borrowings under lending agreements | 0 | 0 |
Purchase of additional interests in subsidiary | 0 | 0 |
Repayments under lending agreements | ' | 0 |
Cash paid for early extinguishments of debt | 0 | 0 |
Cash paid for loan maturity extension fees | 0 | ' |
Scheduled debt retirements | 0 | 0 |
Dividends paid | 0 | ' |
Contributions from noncontrolling interest owners | 0 | ' |
Proceeds from sale of additional interest in a subsidiary | ' | 0 |
Issuance of common stock, net of fees | 16.2 | 17.4 |
Other | 0 | 0 |
Transfers from/(to) affiliates | 238 | -136.2 |
Cash flows (used in)/provided by financing activities | 254.2 | -118.8 |
Cash flows from discontinued operations | ' | ' |
Cash flows from operating activities | 0 | 0 |
Cash flows from investing activities | 0 | 0 |
Net cash provided by discontinued operations | 0 | 0 |
Net (decrease)/increase in cash and cash equivalents | 215.5 | 15.4 |
Change in cash classified as assets held for sale | 0 | 0 |
Cash and cash equivalents, beginning of period | 7.4 | 3.9 |
Cash and cash equivalents, end of period | 222.9 | 19.3 |
Subsidiary Issuer [Member] | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Cash flows provided by/(used in) operating activities | -520.9 | 53.8 |
Cash flows from investing activities | ' | ' |
Acquisitions of property and equipment, net of change in related payables | -7.6 | -0.7 |
Change in restricted cash | 0 | 0 |
Payments to acquire businesses, net of transaction costs and cash acquired | 0 | 0 |
Cash received in conjunction with the sale of a subsidiary, net of cash contributed | ' | 0 |
Investments in/advances to non-consolidated affiliates | 0 | 0 |
Return of investment in subsidiary | ' | 0 |
Proceeds from partial sale of subsidiary, net of cash deconsolidated | 0 | ' |
Purchase of additional interests in subsidiaries | -15.8 | -22.8 |
Dividends received | 48.4 | ' |
Purchases of investment securities | 0 | 0 |
Proceeds from the sale and maturity of investment securities | 0 | 0 |
Other | 0 | 0 |
Cash flows provided by/(used in) investing activities | 25 | -23.5 |
Cash flows from financing activities | ' | ' |
Proceeds from the issuance of long-term debt | 127.2 | 110.9 |
Assumption of debt by non-guarantors | 2,199.40 | 1,250 |
Debt issuance costs and fees | -49.8 | -24.7 |
Borrowings under lending agreements | 0 | 453 |
Purchase of additional interests in subsidiary | 0 | 0 |
Repayments under lending agreements | ' | -608 |
Cash paid for early extinguishments of debt | -1,783.30 | -1,095.60 |
Cash paid for loan maturity extension fees | 0 | ' |
Scheduled debt retirements | -8.1 | -11.3 |
Dividends paid | 0 | ' |
Contributions from noncontrolling interest owners | 0 | ' |
Proceeds from sale of additional interest in a subsidiary | ' | 0 |
Issuance of common stock, net of fees | 0 | 0 |
Other | 0 | 0 |
Transfers from/(to) affiliates | -229.9 | 308.8 |
Cash flows (used in)/provided by financing activities | 255.5 | 383.1 |
Cash flows from discontinued operations | ' | ' |
Cash flows from operating activities | 0 | 0 |
Cash flows from investing activities | 0 | 0 |
Net cash provided by discontinued operations | 0 | 0 |
Net (decrease)/increase in cash and cash equivalents | -240.4 | 413.4 |
Change in cash classified as assets held for sale | 0 | 0 |
Cash and cash equivalents, beginning of period | 911.9 | 16.6 |
Cash and cash equivalents, end of period | 671.5 | 430 |
Subsidiary Guarantors of Parent and Subsidiary Guaranteed Debt [Member] | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Cash flows provided by/(used in) operating activities | 160.6 | -82.7 |
Cash flows from investing activities | ' | ' |
Acquisitions of property and equipment, net of change in related payables | -233.9 | -104.6 |
Change in restricted cash | -1 | 0 |
Payments to acquire businesses, net of transaction costs and cash acquired | 0 | 0 |
Cash received in conjunction with the sale of a subsidiary, net of cash contributed | ' | 0 |
Investments in/advances to non-consolidated affiliates | 0 | 0 |
Return of investment in subsidiary | ' | 92.5 |
Proceeds from partial sale of subsidiary, net of cash deconsolidated | -25.7 | ' |
Purchase of additional interests in subsidiaries | 0 | 0 |
Dividends received | 74.2 | ' |
Purchases of investment securities | 0 | 0 |
Proceeds from the sale and maturity of investment securities | 0 | 0 |
Other | -2.4 | -8 |
Cash flows provided by/(used in) investing activities | -188.8 | -20.1 |
Cash flows from financing activities | ' | ' |
Proceeds from the issuance of long-term debt | 0 | 0 |
Assumption of debt by non-guarantors | 0 | 0 |
Debt issuance costs and fees | 0 | 0 |
Borrowings under lending agreements | 0 | 0 |
Purchase of additional interests in subsidiary | 0 | -9.6 |
Repayments under lending agreements | ' | 0 |
Cash paid for early extinguishments of debt | 0 | 0 |
Cash paid for loan maturity extension fees | 0 | ' |
Scheduled debt retirements | -1.5 | -1.4 |
Dividends paid | -48.4 | ' |
Contributions from noncontrolling interest owners | 0 | ' |
Proceeds from sale of additional interest in a subsidiary | ' | 0 |
Issuance of common stock, net of fees | 0 | 0 |
Other | -6.2 | -8.2 |
Transfers from/(to) affiliates | -0.1 | 0.1 |
Cash flows (used in)/provided by financing activities | -56.2 | -19.1 |
Cash flows from discontinued operations | ' | ' |
Cash flows from operating activities | -0.5 | 39.9 |
Cash flows from investing activities | 0 | -2.3 |
Net cash provided by discontinued operations | -0.5 | 37.6 |
Net (decrease)/increase in cash and cash equivalents | -84.9 | -84.3 |
Change in cash classified as assets held for sale | 0 | 1.6 |
Cash and cash equivalents, beginning of period | 353.8 | 372.5 |
Cash and cash equivalents, end of period | 268.9 | 289.8 |
Subsidiary Non-Guarantors of Parent and Subsidiary Guaranteed Debt [Member] | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Cash flows provided by/(used in) operating activities | 34.7 | 14.1 |
Cash flows from investing activities | ' | ' |
Acquisitions of property and equipment, net of change in related payables | -225.2 | -198.1 |
Change in restricted cash | 702.7 | -551 |
Payments to acquire businesses, net of transaction costs and cash acquired | -8.6 | 7.7 |
Cash received in conjunction with the sale of a subsidiary, net of cash contributed | ' | 42.4 |
Investments in/advances to non-consolidated affiliates | -36.2 | -22.8 |
Return of investment in subsidiary | ' | 0 |
Proceeds from partial sale of subsidiary, net of cash deconsolidated | 76.1 | ' |
Purchase of additional interests in subsidiaries | 0 | 0 |
Dividends received | 0 | ' |
Purchases of investment securities | -26.7 | -36 |
Proceeds from the sale and maturity of investment securities | 55.8 | 27 |
Other | -11.5 | 2.3 |
Cash flows provided by/(used in) investing activities | 526.4 | -728.5 |
Cash flows from financing activities | ' | ' |
Proceeds from the issuance of long-term debt | 1,680.90 | 2,358.50 |
Assumption of debt by non-guarantors | -2,199.40 | -1,250 |
Debt issuance costs and fees | -8 | -7.2 |
Borrowings under lending agreements | 0 | 0 |
Purchase of additional interests in subsidiary | -9.9 | 0 |
Repayments under lending agreements | ' | 0 |
Cash paid for early extinguishments of debt | -284.5 | -355 |
Cash paid for loan maturity extension fees | -23.3 | ' |
Scheduled debt retirements | 0 | 0 |
Dividends paid | -74.2 | ' |
Contributions from noncontrolling interest owners | 35.3 | ' |
Proceeds from sale of additional interest in a subsidiary | ' | 32.2 |
Issuance of common stock, net of fees | 0 | 0 |
Other | -14.9 | -1 |
Transfers from/(to) affiliates | 330.4 | -114.7 |
Cash flows (used in)/provided by financing activities | -567.6 | 662.8 |
Cash flows from discontinued operations | ' | ' |
Cash flows from operating activities | 1.2 | -0.9 |
Cash flows from investing activities | 65.7 | -0.6 |
Net cash provided by discontinued operations | 66.9 | -1.5 |
Net (decrease)/increase in cash and cash equivalents | 60.4 | -53.1 |
Change in cash classified as assets held for sale | -0.2 | 0.9 |
Cash and cash equivalents, beginning of period | 484.4 | 498.2 |
Cash and cash equivalents, end of period | 544.6 | 446 |
Subsidiary Non-Guarantors of Parent-Only Guaranteed Debt [Member] | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Cash flows provided by/(used in) operating activities | 195.3 | -68.6 |
Cash flows from investing activities | ' | ' |
Acquisitions of property and equipment, net of change in related payables | -459.1 | -302.7 |
Change in restricted cash | 701.7 | -551 |
Payments to acquire businesses, net of transaction costs and cash acquired | -8.6 | 7.7 |
Cash received in conjunction with the sale of a subsidiary, net of cash contributed | ' | 42.4 |
Investments in/advances to non-consolidated affiliates | -36.2 | -22.8 |
Return of investment in subsidiary | ' | 92.5 |
Proceeds from partial sale of subsidiary, net of cash deconsolidated | 50.4 | ' |
Purchase of additional interests in subsidiaries | 0 | 0 |
Dividends received | 74.2 | ' |
Purchases of investment securities | -26.7 | -36 |
Proceeds from the sale and maturity of investment securities | 55.8 | 27 |
Other | -13.9 | -5.7 |
Cash flows provided by/(used in) investing activities | 337.6 | -748.6 |
Cash flows from financing activities | ' | ' |
Proceeds from the issuance of long-term debt | 1,680.90 | 2,358.50 |
Assumption of debt by non-guarantors | -2,199.40 | -1,250 |
Debt issuance costs and fees | -8 | -7.2 |
Borrowings under lending agreements | 0 | 0 |
Purchase of additional interests in subsidiary | -9.9 | -9.6 |
Repayments under lending agreements | ' | 0 |
Cash paid for early extinguishments of debt | -284.5 | -355 |
Cash paid for loan maturity extension fees | -23.3 | ' |
Scheduled debt retirements | -1.5 | -1.4 |
Dividends paid | -122.6 | ' |
Contributions from noncontrolling interest owners | 35.3 | ' |
Proceeds from sale of additional interest in a subsidiary | ' | 32.2 |
Issuance of common stock, net of fees | 0 | 0 |
Other | -21.1 | -9.2 |
Transfers from/(to) affiliates | 330.3 | -114.6 |
Cash flows (used in)/provided by financing activities | -623.8 | 643.7 |
Cash flows from discontinued operations | ' | ' |
Cash flows from operating activities | 0.7 | 39 |
Cash flows from investing activities | 65.7 | -2.9 |
Net cash provided by discontinued operations | 66.4 | 36.1 |
Net (decrease)/increase in cash and cash equivalents | -24.5 | -137.4 |
Change in cash classified as assets held for sale | -0.2 | 2.5 |
Cash and cash equivalents, beginning of period | 838.2 | 870.7 |
Cash and cash equivalents, end of period | 813.5 | 735.8 |
Consolidating/ Eliminating Adjustments [Member] | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' |
Cash flows provided by/(used in) operating activities | 0.8 | 9.7 |
Cash flows from investing activities | ' | ' |
Acquisitions of property and equipment, net of change in related payables | 0 | 0 |
Change in restricted cash | 0 | 0 |
Payments to acquire businesses, net of transaction costs and cash acquired | 0 | 0 |
Cash received in conjunction with the sale of a subsidiary, net of cash contributed | ' | 0 |
Investments in/advances to non-consolidated affiliates | 0 | 0 |
Return of investment in subsidiary | ' | -92.5 |
Proceeds from partial sale of subsidiary, net of cash deconsolidated | 0 | ' |
Purchase of additional interests in subsidiaries | 337.6 | 150.5 |
Dividends received | -122.6 | ' |
Purchases of investment securities | 0 | 0 |
Proceeds from the sale and maturity of investment securities | 0 | 0 |
Other | 0 | 0 |
Cash flows provided by/(used in) investing activities | 215 | 58 |
Cash flows from financing activities | ' | ' |
Proceeds from the issuance of long-term debt | 0 | 0 |
Assumption of debt by non-guarantors | 0 | 0 |
Debt issuance costs and fees | 0 | 0 |
Borrowings under lending agreements | 0 | 0 |
Purchase of additional interests in subsidiary | 0 | 0 |
Repayments under lending agreements | ' | 0 |
Cash paid for early extinguishments of debt | 0 | 0 |
Cash paid for loan maturity extension fees | 0 | ' |
Scheduled debt retirements | 0 | 0 |
Dividends paid | 122.6 | ' |
Contributions from noncontrolling interest owners | 0 | ' |
Proceeds from sale of additional interest in a subsidiary | ' | 0 |
Issuance of common stock, net of fees | 0 | 0 |
Other | 0 | 0 |
Transfers from/(to) affiliates | -338.4 | -58 |
Cash flows (used in)/provided by financing activities | -215.8 | -58 |
Cash flows from discontinued operations | ' | ' |
Cash flows from operating activities | 0 | -9.7 |
Cash flows from investing activities | 0 | 0 |
Net cash provided by discontinued operations | 0 | -9.7 |
Net (decrease)/increase in cash and cash equivalents | 0 | 0 |
Change in cash classified as assets held for sale | 0 | 0 |
Cash and cash equivalents, beginning of period | 0 | 0 |
Cash and cash equivalents, end of period | $0 | $0 |