Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Mar. 01, 2014 | Jun. 30, 2013 |
Document Documentand Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Document Period End Date | 31-Dec-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 | ' | 137,161,183 | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Public Float | ' | ' | $529.90 |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Trading Symbol | 'CZR | ' | ' |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Millions, unless otherwise specified | ||||
Current assets | ' | ' | ||
Cash and cash equivalents ($976.9 attributable to our VIEs in 2013) | $2,771.20 | $1,757.50 | ||
Restricted cash ($28.8 attributable to our VIEs in 2013) | 87.5 | 833.6 | ||
Receivables, net ($54.8 attributable to our VIEs in 2013) | 619.9 | 580.5 | ||
Deferred income taxes | 8.7 | 114.9 | ||
Prepayments and other current assets ($15.6 attributable to our VIEs in 2013) | 237.4 | 150 | ||
Inventories | 45.6 | 52 | ||
Assets held for sale | 0 | 5.1 | ||
Total current assets | 3,770.30 | 3,493.60 | ||
Property and equipment, net ($516.0 attributable to our VIEs in 2013) | 13,237.90 | 15,701.70 | ||
Goodwill ($112.8 attributable to our VIEs in 2013) | 3,063.30 | 3,160.30 | ||
Intangible assets other than goodwill ($180.0 attributable to our VIEs in 2013) | 3,487.70 | 3,985.70 | ||
Investments in and advances to non-consolidated affiliates | 176.8 | 100.4 | ||
Restricted cash ($231.6 attributable to our VIEs in 2013) | 336.8 | 364.6 | ||
Deferred charges and other ($11.0 attributable to our VIEs in 2013) | 604.2 | 720.6 | ||
Assets held for sale | 11.9 | 471.2 | ||
Total assets | 24,688.90 | 27,998.10 | ||
Current liabilities | ' | ' | ||
Accounts payable ($54.8 attributable to our VIEs in 2013) | 442.7 | 376.2 | ||
Accrued expenses and other current liabilities ($126.1 attributable to our VIEs in 2013) | 1,212.30 | 1,098.50 | ||
Interest payable | 389.5 | 233.7 | ||
Deferred income taxes | 289.2 | 0 | ||
Current portion of long-term debt ($47.8 attributable to our VIEs in 2013) | 197.1 | 879.9 | ||
Total current liabilities | 2,530.80 | 2,588.30 | ||
Long-term debt ($673.9 attributable to our VIEs in 2013) | 20,918.40 | 20,532.20 | ||
Deferred credits and other ($67.3 attributable to our VIEs in 2013) | 667.5 | 823 | ||
Deferred income taxes ($3.8 attributable to our VIEs in 2013) | 2,476 | 4,334.10 | ||
Liabilities held for sale | 0 | 52.1 | ||
Total liabilities | 26,592.70 | 28,329.70 | ||
Commitments and contingencies (Note 17) | ' | ' | ||
Stockholders’ equity/(deficit) | ' | ' | ||
Common stock; voting; $0.01 par value; 139.0 and 127.5 shares issued, respectively | 1.4 | 1.3 | ||
Treasury Stock: 2.2 and 2.1 shares, respectively | -16.3 | -16.3 | ||
Additional paid-in capital | 7,230.50 | 6,954.40 | ||
Accumulated deficit (1) | -10,320.70 | [1] | -7,372.50 | [1] |
Accumulated other comprehensive income/(loss) (1) | -16.9 | [1] | 21.4 | [1] |
Total Caesars stockholders’ deficit | -3,122 | -411.7 | ||
Noncontrolling interests | 1,218.20 | 80.1 | ||
Total equity/(deficit) | -1,903.80 | -331.6 | ||
Total liabilities and stockholders' deficit | $24,688.90 | $27,998.10 | ||
[1] | As discussed in Note 21, "Employee Benefit Plans," we elected to change our method of accounting for actuarial gains and losses for our pension plan in the United Kingdom to a more preferable method permitted under GAAP. We applied this accounting change retrospectively to all periods presented on the noted line items. |
CONSOLIDATED_CONDENSED_BALANCE
CONSOLIDATED CONDENSED BALANCE SHEETS (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, except Per Share data, unless otherwise specified | ||
Cash and cash equivalents | $2,771.20 | $1,757.50 |
Restricted cash | 87.5 | 833.6 |
Receivables, net | 619.9 | 580.5 |
Deferred income taxes | 8.7 | 114.9 |
Prepayments and other current assets | 237.4 | 150 |
Property and equipment, net | 13,237.90 | 15,701.70 |
Goodwill | 3,063.30 | 3,160.30 |
Intangible assets other than goodwill | 3,487.70 | 3,985.70 |
Restricted cash | 336.8 | 364.6 |
Deferred charges and other | 604.2 | 720.6 |
Accounts payable | 442.7 | 376.2 |
Accrued expenses and other current liabilities | 1,212.30 | 1,098.50 |
Interest payable | 389.5 | 233.7 |
Current portion of long-term debt | 197.1 | 879.9 |
Long-term debt | 20,918.40 | 20,532.20 |
Deferred credits and other | 667.5 | 823 |
Deferred income taxes ($3.8 attributable to our VIEs in 2013) | 2,476 | 4,334.10 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares issued | 139 | 127.5 |
Treasury stock, shares | 2.2 | 2.1 |
Variable Interest Entity, Primary Beneficiary [Member] | ' | ' |
Cash and cash equivalents | 976.9 | ' |
Restricted cash | 28.8 | ' |
Receivables, net | 54.8 | ' |
Deferred income taxes | 7 | ' |
Prepayments and other current assets | 15.6 | ' |
Property and equipment, net | 516 | ' |
Goodwill | 112.8 | ' |
Intangible assets other than goodwill | 180 | ' |
Restricted cash | 231.6 | ' |
Deferred charges and other | 11 | ' |
Accounts payable | 54.8 | ' |
Accrued expenses and other current liabilities | 126.1 | ' |
Interest payable | 5.5 | ' |
Current portion of long-term debt | 47.8 | ' |
Long-term debt | 673.9 | ' |
Deferred credits and other | 67.3 | ' |
Deferred income taxes ($3.8 attributable to our VIEs in 2013) | $3.80 | ' |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 12 Months Ended | |||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Revenues | ' | ' | ' | |||
Casino | $5,808.80 | $6,243 | $6,389.90 | |||
Food and beverage | 1,510 | 1,507.60 | 1,506.10 | |||
Rooms | 1,219.60 | 1,205.50 | 1,193.10 | |||
Management fees | 57 | 47.3 | 35.8 | |||
Other | 874.8 | 762 | 647.1 | |||
Reimbursed management costs | 268.1 | 67.1 | 26.9 | |||
Less: casino promotional allowances | -1,178.60 | -1,252.10 | -1,232.30 | |||
Net revenues | 8,559.70 | 8,580.40 | 8,566.60 | |||
Direct | ' | ' | ' | |||
Casino | 3,280.50 | 3,553 | 3,615.20 | |||
Food and beverage | 658.4 | 657.6 | 657 | |||
Rooms | 305.4 | 297.6 | 286.2 | |||
Property, general, administrative, and other | 2,168.60 | [1] | 2,043.50 | [1] | 2,093.50 | [1] |
Reimbursable management costs | 268.1 | 67.1 | 26.9 | |||
Depreciation and amortization | 565.2 | 714.4 | 677 | |||
Write-downs, reserves, and project opening costs, net of recoveries | 104.4 | 99.7 | 73.8 | |||
Impairment of intangible and tangible assets | 3,018.90 | 1,074.20 | 32.8 | |||
(Income)/loss on interests in non-consolidated affiliates | 17.6 | 17.5 | 7.9 | |||
Corporate expense | 161.4 | 195 | 152.8 | |||
Acquisition and integration costs | 81.3 | 6.1 | 4.3 | |||
Amortization of intangible assets | 164.5 | 174.6 | 156.7 | |||
Total operating expenses | 10,794.30 | 8,900.30 | 7,784.10 | |||
Income/(loss) from operations | -2,234.60 | -319.9 | 782.5 | |||
Interest expense | -2,253 | -2,100.30 | -2,121.70 | |||
Gain/(loss) on early extinguishment of debt | -29.8 | 136 | 47.9 | |||
Gain on partial sale of subsidiary | 44.1 | 0 | 0 | |||
Other income, including interest income | 13.8 | 25.5 | 25.3 | |||
Loss from continuing operations before income taxes | -4,459.50 | -2,258.70 | -1,266 | |||
Income tax benefit | 1,549.70 | 870.5 | 534.6 | |||
Loss from continuing operations, net of income taxes | -2,909.80 | -1,388.20 | -731.4 | |||
Discontinued operations | ' | ' | ' | |||
Income/(loss) from discontinued operations | -29.8 | -64.5 | 55.1 | |||
Income tax provision | -0.2 | -50.1 | -27.8 | |||
Income/(loss) from discontinued operations, net of income taxes | -30 | -114.6 | 27.3 | |||
Net loss | -2,939.80 | [2] | -1,502.80 | [2] | -704.1 | |
Less: net income attributable to noncontrolling interests | -8.4 | -5.3 | -20.9 | |||
Net loss attributable to Caesars | ($2,948.20) | ($1,508.10) | ($725) | |||
Loss per share - basic and diluted | ' | ' | ' | |||
Loss per share from continuing operations (usd per share) | ($22.70) | ($11.12) | ($6.02) | |||
Earnings/(loss) per share from discontinued operations (usd per share) | ($0.23) | ($0.92) | $0.22 | |||
Net loss per share (usd per share) | ($22.93) | ($12.04) | ($5.80) | |||
Weighted-average common shares outstanding - basic and diluted | 128.6 | 125.3 | 125.1 | |||
[1] | As discussed in Note 21, "Employee Benefit Plans," we elected to change our method of accounting for actuarial gains and losses for our pension plan in the United Kingdom to a more preferable method permitted under GAAP. We applied this accounting change retrospectively to all periods presented on the noted line items. | |||||
[2] | Amount rounds to zero. |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Statement of Comprehensive Income [Abstract] | ' | ' | ' | |||
Net loss | ($2,939.80) | [1] | ($1,502.80) | [1] | ($704.10) | |
Defined benefit plan adjustments | 0.8 | [2] | -0.2 | [2] | -2 | [2] |
Reclassification of defined benefit plan adjustments to interest expense | 0.7 | 0 | 0 | |||
Foreign currency translation adjustments | -24.1 | 20.7 | -20 | |||
Change in fair market value of derivatives | 0 | 0 | -64.3 | |||
Reclassification of loss on derivative instruments from other comprehensive loss to interest expense | 4 | 28.4 | 265.7 | |||
Unrealized losses on available-for-sale investments | -3.9 | -0.8 | 2.6 | |||
Total other comprehensive income/(loss), before income taxes | -22.5 | 48.1 | 182 | |||
Income tax provision related to items of other comprehensive income/(loss) | -15.9 | -10.9 | -70.9 | |||
Total other comprehensive income/(loss), net of income taxes | -38.4 | 37.2 | 111.1 | |||
Total comprehensive loss | -2,978.20 | -1,465.60 | -593 | |||
Less: amounts attributable to noncontrolling interests: | ' | ' | ' | |||
Net loss | -8.4 | -5.3 | -20.9 | |||
Foreign currency translation adjustments | 0.1 | -1.1 | -1.3 | |||
Total amounts attributable to noncontrolling interests | -8.3 | -6.4 | -22.2 | |||
Comprehensive loss attributable to Caesars | ($2,986.50) | ($1,472) | ($615.20) | |||
[1] | Amount rounds to zero. | |||||
[2] | As discussed in Note 21, "Employee Benefit Plans," we elected to change our method of accounting for actuarial gains and losses for our pension plan in the United Kingdom to a more preferable method permitted under GAAP. We applied this accounting change retrospectively to all periods presented on the noted line items. |
CONSOLIDATED_STATEMENTS_OF_STO
CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY/(DEFICIT) (USD $) | Total | Accrued Liabilities [Member] | Common Stock | Treasury Stock | Additional Paid-in-Capital | Accumulated Deficit | Accumulated Deficit | Accumulated Other Comprehensive Income/(Loss) | Total Caesars Stockholders' Equity | Total Caesars Stockholders' Equity | Non-controlling Interests | ||||||
In Millions, unless otherwise specified | Accrued Liabilities [Member] | Accrued Liabilities [Member] | |||||||||||||||
Beginning balance at Dec. 31, 2010 | $1,672.60 | ' | $0.70 | $0 | $6,906.50 | ($5,105.60) | ' | ($168.80) | $1,632.80 | ' | $39.80 | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Cumulative effect of accounting change | 0 | 10.7 | ' | ' | ' | -44.3 | [1] | 10.7 | 44.3 | [1] | ' | 10.7 | ' | ||||
Net (loss)/income | -704.1 | ' | ' | ' | ' | -725 | [1] | ' | ' | -725 | [1] | ' | 20.9 | ||||
Share-based compensation | 22.2 | ' | ' | ' | 22.1 | ' | ' | ' | 22.1 | ' | 0.1 | ||||||
Stock options exercised for shares | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Increase in treasury shares | -1.7 | ' | 0 | [1] | ' | -1.7 | ' | ' | ' | -1.7 | ' | ' | |||||
Distributions to noncontrolling interests, net of contributions | -5.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -5.8 | ||||||
Increase in noncontrolling interests, net of distributions and contributions | -9.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -9.6 | ||||||
Other comprehensive loss, net of tax | 111.1 | ' | ' | ' | ' | ' | ' | 109.8 | 109.8 | ' | 1.3 | ||||||
Purchase of additional interests in subsidiary | -31.5 | ' | ' | ' | -31.5 | ' | ' | ' | -31.5 | ' | ' | ||||||
Other | -10.5 | ' | ' | ' | -10.3 | -0.2 | ' | ' | -10.5 | ' | ' | ||||||
Ending balance at Dec. 31, 2011 | 1,053.40 | ' | 0.7 | 0 | 6,885.10 | -5,864.40 | ' | -14.7 | 1,006.70 | ' | 46.7 | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Net (loss)/income | -1,502.80 | [1] | ' | ' | ' | ' | -1,508.10 | [1] | ' | ' | -1,508.10 | [1] | ' | 5.3 | |||
Share-based compensation | 34.1 | ' | ' | ' | 34.1 | ' | ' | ' | 34.1 | ' | ' | ||||||
Initial public offering | 17.2 | ' | 0.6 | ' | 16.6 | ' | ' | ' | 17.2 | ' | ' | ||||||
Common stock issuances | 0.2 | ' | 0 | [1] | ' | 0.2 | ' | ' | ' | 0.2 | ' | 0 | |||||
Stock options exercised for shares | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Increase in treasury shares | 0 | ' | ' | -16.3 | 16.3 | ' | ' | ' | ' | ' | ' | ||||||
Increase in noncontrolling interests, net of distributions and contributions | 27 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 27 | ||||||
Other comprehensive loss, net of tax | 37.2 | ' | ' | ' | ' | ' | ' | 36.1 | 36.1 | ' | 1.1 | ||||||
Other | 2.1 | ' | ' | ' | 2.1 | 0 | ' | ' | 2.1 | ' | ' | ||||||
Ending balance at Dec. 31, 2012 | -331.6 | ' | 1.3 | -16.3 | 6,954.40 | -7,372.50 | ' | 21.4 | -411.7 | ' | 80.1 | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Net (loss)/income | -2,939.80 | [1] | ' | ' | ' | ' | -2,948.20 | [1] | ' | ' | -2,948.20 | [1] | ' | 8.4 | |||
Share-based compensation | 39.1 | ' | ' | ' | 39.1 | ' | ' | ' | 39.1 | ' | ' | ||||||
Common stock issuances | 216 | ' | 0.1 | ' | 215.9 | ' | ' | ' | 216 | ' | 0 | ||||||
Stock options exercised for shares | 1.2 | ' | 0 | [1] | ' | 1.2 | ' | ' | ' | 1.2 | ' | ' | |||||
Increase in treasury shares | -0.1 | ' | ' | 0 | [1] | -0.1 | ' | ' | ' | -0.1 | ' | ' | |||||
Contributions from noncontrolling interest | 35.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35.3 | ||||||
Increase in noncontrolling interests, net of distributions and contributions | 1,140.30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,140.30 | ||||||
Other comprehensive loss, net of tax | -38.4 | ' | ' | ' | ' | ' | ' | -38.3 | -38.3 | ' | -0.1 | ||||||
Purchase of additional interests in subsidiary | -9.8 | ' | ' | ' | -9.8 | ' | ' | ' | -9.8 | ' | ' | ||||||
Reclassification of noncontrolling interest | 0 | ' | ' | ' | 24.7 | ' | ' | ' | 24.7 | ' | -24.7 | ||||||
Other | -16 | ' | ' | ' | 5.1 | 0 | ' | ' | 5.1 | ' | -21.1 | ||||||
Ending balance at Dec. 31, 2013 | ($1,903.80) | ' | $1.40 | ($16.30) | $7,230.50 | ($10,320.70) | ' | ($16.90) | ($3,122) | ' | $1,218.20 | ||||||
[1] | Amount rounds to zero. |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | ||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Cash flows from operating activities | ' | ' | ' | ||
Net loss | ($2,939.80) | [1] | ($1,502.80) | [1] | ($704.10) |
Adjustments to reconcile net loss to cash flows from operating activities: | ' | ' | ' | ||
(Income)/loss from discontinued operations | 30 | 114.6 | -27.3 | ||
(Gains)/losses on early extinguishments of debt | 29.8 | -136 | -47.9 | ||
Depreciation and amortization | 742.4 | 902 | 845.9 | ||
Amortization of deferred finance costs and debt discount/premium | 360.1 | 314.8 | 227.5 | ||
Reclassification from, and amortization of, accumulated other comprehensive loss | 4.7 | 28.4 | 266.5 | ||
Non-cash write-downs and reserves, net of recoveries | 63.7 | 34.9 | 5.3 | ||
Gain on partial sale of subsidiary | -44.1 | 0 | 0 | ||
Non-cash acquisition and integration costs | 52.9 | 0 | 0 | ||
Impairment of intangible and tangible assets | 3,018.90 | 1,074.20 | 32.8 | ||
Loss on interest in non-consolidated affiliates | 17.6 | 17.5 | 7.9 | ||
Share-based compensation expense | 56.5 | 55.1 | 22.2 | ||
Deferred income taxes | -1,476.70 | -750.4 | -501.2 | ||
Pension expense in excess of cash paid (1) | 9.9 | 10.6 | 37.4 | ||
Change in deferred charges and other | -23.5 | 23.5 | 51.9 | ||
Change in deferred credits and other | -189.3 | -118.9 | -123.6 | ||
Change in current assets and liabilities: | ' | ' | ' | ||
Accounts receivable | -61.8 | -88 | -87.1 | ||
Prepayments and other current assets | -16.8 | -15.3 | 43.3 | ||
Accounts payable | 68.4 | 37.8 | 14.9 | ||
Interest payable | 157 | 42.6 | -10.1 | ||
Accrued expenses | 57.4 | 9 | 15 | ||
Other | -26.7 | -23.4 | -6.3 | ||
Cash flows from operating activities | -109.4 | 30.2 | 63 | ||
Cash flows from investing activities | ' | ' | ' | ||
Acquisitions of property and equipment, net of change in related payables | -726.3 | -507.1 | -272.5 | ||
Change in restricted cash | 773.9 | -680.5 | -517.7 | ||
Purchase of additional interests in subsidiaries | 0 | 0 | -75.4 | ||
Payments to acquire certain gaming rights | 0 | 0 | -22.7 | ||
Proceeds from partial sale of subsidiary, net of cash deconsolidated | 50.4 | 0 | 0 | ||
Proceeds from the sale of subsidiary, net of cash contributed | 0 | 42.4 | 0 | ||
Payments to acquire businesses, net of transaction costs and cash acquired | -19.5 | -37.9 | -19 | ||
Investments in/advances to non-consolidated affiliates and other | -38.6 | -28.1 | -76 | ||
Purchases of investment securities | -30 | -39.2 | -35.7 | ||
Proceeds from the sale and maturity of investment securities | 67.4 | 31.6 | 22.6 | ||
Other | -12.5 | -5.5 | -9.9 | ||
Cash flows from investing activities | 64.8 | -1,224.30 | -1,006.30 | ||
Cash flows from financing activities | ' | ' | ' | ||
Proceeds from the issuance of long-term debt | 6,038.70 | 3,709.40 | 863.8 | ||
Debt issuance and extension costs and fees | -152.8 | -50.6 | -18.1 | ||
Borrowings under lending agreements | 0 | 453 | 358 | ||
Repayments under lending agreements | 0 | -608 | -203 | ||
Cash paid for early extinguishments of debt | -6,512.10 | -2,036.60 | -128.5 | ||
Scheduled debt retirements | -92.8 | -15.8 | -43.7 | ||
Purchase of additional interests in subsidiaries | -10 | -9.6 | 0 | ||
Sales of noncontrolling interests, net of fees | 1,197.50 | 37.6 | 14.8 | ||
Distributions to noncontrolling interest owners | -19.9 | -10.7 | -9.8 | ||
Issuance of common stock, net of fees | 217.2 | 17.4 | 0 | ||
Other | -14.7 | -13.5 | -22 | ||
Cash flows from financing activities | 651.1 | 1,472.60 | 811.5 | ||
Cash flows from discontinued operations | ' | ' | ' | ||
Cash flows from operating activities | -9.4 | -20.6 | 60.1 | ||
Cash flows from investing activities | 411.9 | 599.7 | -10.7 | ||
Cash flows from financing activities | 0 | 0 | 0 | ||
Net cash from discontinued operations | 402.5 | 579.1 | 49.4 | ||
Net increase/(decrease) in cash and cash equivalents | 1,009 | 857.6 | -82.4 | ||
Change in cash classified as assets held for sale | 4.7 | 8.7 | 2.5 | ||
Cash and cash equivalents, beginning of period | 1,757.50 | 891.2 | 971.1 | ||
Cash and cash equivalents, end of period | 2,771.20 | 1,757.50 | 891.2 | ||
Cash paid for interest | 1,899.20 | 1,771.90 | 1,685 | ||
Cash paid for income taxes | 38.2 | 16.5 | 5.4 | ||
Change in accrued capital expenditures | 18.5 | 49 | 20.4 | ||
Change in assets acquired through financing activities and capital leases | $67.40 | $35.80 | $4.20 | ||
[1] | Amount rounds to zero. |
Description_of_Business_and_Ba
Description of Business and Basis of Presentation (Notes) | 12 Months Ended | |
Dec. 31, 2013 | ||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |
Description of Business and Basis of Presentation | ' | |
Description of Business and Basis of Presentation | ||
We conduct business through our wholly owned subsidiaries, Caesars Entertainment Operating Company, Inc. ("CEOC") and Caesars Entertainment Resort Properties ("CERP") and their subsidiaries. We also consolidate Caesars Growth Partners, LLC ("CGP LLC"), which is a variable interest entity ("VIE") for which we have determined that we are the primary beneficiary. As of December 31, 2013, we owned, operated, or managed, through various subsidiaries and VIEs, 52 casinos in 13 U.S. states and 5 countries. Of the 52 casinos, 39 are in the United States and primarily consist of land-based and riverboat or dockside casinos. Our 13 international casinos are land-based casinos, most of which are located in England. See Item 2, "Properties." | ||
We have an ownership interest in CGP LLC as well as obligations under the asset management and management services agreements that constitute variable interests in CGP LLC. Because the equity holders in CGP LLC receive returns disproportionate to their voting interests and substantially all the activities of CGP LLC are related to Caesars, CGP LLC has been determined to be a variable interest entity. We have determined that we are the primary beneficiary of CGP LLC and we have consolidated this entity. See Note 5, "Caesars Growth Partners, LLC Transactions." | ||
Caesars Interactive Entertainment, Inc. ("CIE"), which is a majority owned subsidiary of CGP LLC, operates an online gaming business providing for certain real money games in Nevada, New Jersey, and the United Kingdom; "play for fun" offerings in other jurisdictions; and social games on Facebook and other social media websites and mobile application platforms, such as Slotomania. CIE also owns the World Series of Poker ("WSOP") tournaments and brand, and licenses trademarks for a variety of products and businesses related to this brand. | ||
We view each casino property and CIE as operating segments and aggregate all such casino properties and CIE 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"). As a result of the Acquisition and through February 7, 2012, our stock was not publicly traded. Effective February 8, 2012, as the result of our public offering, our common stock trades on the NASDAQ Global Select Market ("NASDAQ") under the symbol "CZR." In connection with the public offering, the Company effected a 1.742-for-1 split of its common stock. Unless otherwise stated, all applicable share and per-share data presented herein have been retroactively adjusted to give effect to this stock split. See Note 11, "Stockholders' Equity and Loss Per Share," for further information. | ||
Liquidity Considerations | ||
We are a highly leveraged company and a significant amount of our liquidity needs are for debt service, including significant interest payments. As of December 31, 2013, we had $23,589.3 million face value of outstanding indebtedness and our current debt service obligation for 2014 is $2,383.0 million, consisting of $197.1 million in principal maturities and $2,185.9 million in required interest payments. Our debt service obligation for 2015 is $3,223.7 million, consisting of $1,212.2 million in principal maturities and $2,011.5 million in required interest payments. | ||
Following the U.S. recession of late 2007 through 2009, we have observed that gaming activity has remained well below the pre-recession levels. In addition, new competition in certain regional markets has negatively affected “same store” volumes, while overall slot volumes trends continue to weaken in most markets. These factors have negatively affected our results of operations, and may continue to negatively affect our results of operations in the future. During periods of economic weakness and in the face of continued weak consumer spending on gaming, our revenues may decrease while many of our costs remain fixed and some costs even increase, resulting in decreased earnings. As a result, we have experienced substantial net losses since 2010, as well as operating losses in 2012 and 2013, resulting in a net stockholders’ deficit of $3,122.0 million as of December 31, 2013. Further, we expect to experience operating and net losses in 2014 and beyond. | ||
Our cash and cash equivalents, excluding restricted cash, totaled $2,771.2 million as of December 31, 2013 compared with $1,757.5 million as of December 31, 2012. Cash and cash equivalents as of December 31, 2013, includes $976.9 million held by CGP LLC, which is not available for our use to fund operations or satisfy our obligations. Caesars experienced negative operating cash flows of $109.4 million in 2013 and we also expect to experience negative operating cash flows in 2014 and beyond at our CEOC subsidiary. | ||
In addition to cash flows from operations, available sources of cash include amounts available under our current revolving credit facility. At December 31, 2013, the facility provided for up to $215.5 million, with $109.4 million maturing on January 28, 2014. As of March 1, 2014 the facility provided for $106.1 million of borrowing capacity, of which $9.6 million remained as available borrowing capacity. In addition, CERP had $269.5 million available on its revolving credit facility at December 31, 2013. | ||
As described more fully in Note 24, “Subsequent Events,” we recently announced that CGP LLC will acquire certain assets from CEOC for $2,000.0 million in cash, net of assumed debt. The transaction is expected to close in the second quarter 2014. The net cash proceeds will impact the calculation of the senior secured leverage ratio ("SSLR") covenant going forward to the extent it reduces first lien debt or increases cash of CEOC. | ||
From time to time, depending upon market, pricing, and other conditions, and on our cash balances and liquidity, we may seek to acquire or exchange notes or other indebtedness of the Company’s subsidiaries through open market purchases, privately negotiated transactions, tender offers, redemption, exchange offers or otherwise, upon such terms and at such prices as we may determine (or as may be provided for in the indentures governing the notes), for cash or other consideration, including our common stock. In addition, we have considered and will continue to evaluate potential transactions to reduce net debt, such as debt for debt exchanges, debt for equity exchanges and other transactions. | ||
We do not expect that our cash flow from operations will be sufficient to repay our indebtedness in the long-term and we will have to ultimately seek a restructuring, amendment or refinancing of our debt, or if necessary, pursue additional debt or equity offerings. | ||
Our ability to refinance or restructure our debt, or to issue additional debt or equity, will depend upon, among other things: | ||
• | The condition of the capital markets at the time, which is beyond our control, | |
• | Our future financial and operating performance, which will be affected by prevailing economic conditions and financial, business, regulatory and other factors, many of which are beyond our control; and | |
• | Our continued compliance with the terms and covenants in our Credit Facilities, indentures and loan agreements that govern our debt. | |
Under CEOC's Credit Facilities, we are required to satisfy and maintain specified financial ratios. Specifically, our credit facilities require CEOC to maintain an SSLR of no more than 4.75 to 1.0, which is the ratio of CEOC's senior first priority secured debt to LTM Adjusted EBITDA - Pro Forma - CEOC Restricted. This ratio excludes up to $3,700.0 million of CEOC first priority senior secured notes and up to $350.0 million aggregate principal amount of consolidated debt of subsidiaries that are not wholly-owned. This ratio also reduces the amount of CEOC senior first priority secured debt by the amount of unrestricted CEOC cash on hand, which was $1,450.2 million as of December 31, 2013. As of December 31, 2013, the CEOC SSLR was 4.52 to 1.0. | ||
While we were in compliance with the terms and conditions of all of our loan agreements, including CEOC’s Credit Facilities and indentures, as of December 31, 2013, in order to comply with the quarterly SSLR covenant under the CEOC Credit Facility in the future, we will need to achieve a certain amount of LTM Adjusted EBITDA - Pro-Forma - CEOC Restricted and/or reduced levels of total senior secured net debt (total senior secured debt less unrestricted cash). The factors that could impact the foregoing include (a) changes in gaming trips, spend per trip and hotel metrics, which we believe are correlated to consumer spending and confidence generally and spending by consumers for gaming and other entertainment activities, (b) our ability to effect cost savings initiatives, (c) our ability to complete asset sales, including the transaction described more fully in Note 24, (d) issuing additional second lien or unsecured debt, or project financing, (e) reducing net debt through open market purchases, privately negotiated transactions, redemptions, tender offers or exchanges, (f) equity issuances, (g) reductions in capital expenditures spending, or (h) a combination thereof. | ||
In addition, under certain circumstances, the CEOC Credit Facilities allow us to apply cash contributions received by CEOC from CEC as an increase to LTM Adjusted EBITDA - Pro Forma - CEOC Restricted, if CEOC is unable to meet its SSLR, in order to cure any breach. | ||
Based upon our current operating forecast, the expected closing of the CEOC asset sale to CGP LLC described above and in Note 24, and our ability to achieve one or more of the other factors noted above, including our ability to cure a breach of the SSLR, in certain circumstances, with cash contributions from CEC, we believe that we will have sufficient liquidity to fund our operations and meet our debt service obligations and that we will continue to be in compliance with the CEOC SSLR during the next twelve months. | ||
See Note 9, "Debt," for details on our debt outstanding and restrictive covenants related to certain of our borrowings. This detail includes, among other things, a table presenting details of our individual borrowings outstanding as of December 31, 2013 and 2012 with maturities by year, as well as discussion of recent changes in our debt outstanding, and certain changes in the terms of existing debt for the year ended December 31, 2013. | ||
Basis of Presentation and Use of Estimates | ||
Our consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States ("GAAP"), which require the use of estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities. Actual amounts could differ from those estimates. | ||
Certain prior year amounts have been reclassified to conform to the current year's presentation. | ||
As described in Note 21, "Employee Benefit Plans," in the fourth quarter of 2013, we elected to change our method of accounting for actuarial gains and losses for our pension plan in the United Kingdom to a more preferable method permitted under GAAP. We believe this change was preferable because it will result in a method of amortization of gains and losses that accelerates recognition of such gains and losses into net income for events that have already occurred. We have applied this change in accounting principle retrospectively. In addition, we made other immaterial corrections to the accounting for the pension plan. | ||
Principles of Consolidation | ||
Our consolidated financial statements include the accounts of Caesars Entertainment and its subsidiaries after elimination of all intercompany accounts and transactions. | ||
We consolidate into our financial statements the accounts of all 100% owned subsidiaries, partially-owned subsidiaries that we control and VIEs for which we are the primary beneficiary (See Note 2). Control generally equates to ownership percentage, (1) whereby affiliates that are more than 50% owned are consolidated; (2) investments in affiliates of 50% or less but greater than 20% are generally accounted for using the equity method; and (3) investments in affiliates of 20% or less are generally accounted for using the cost method. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | |
Dec. 31, 2013 | ||
Accounting Policies [Abstract] | ' | |
Summary of Significant Accounting Policies | ' | |
Summary of Significant Accounting Policies | ||
Variable Interest Entities | ||
We consolidate a VIE when we have both the power to direct the activities that most significantly impact the results of the VIE and the right to receive benefits or the obligation to absorb losses of the entity that could be potentially significant to the VIE. For VIEs that are under common control with affiliates, in lieu of an assessment of the power to direct the activities that most significantly impact the results of the VIE, we may be required to assess a number of other factors to determine the consolidating entity, including the following: (i) the closeness of the association that the VIE has with the businesses of the affiliated entities, (ii) the entity from which the VIE obtained its assets; (iii) the nature of ongoing management and other agreements; and (iv) the obligation to absorb losses and the right to receive residual returns that could potentially be significant to the VIE. Along with the VIEs that are consolidated in accordance with the above guidelines, we also hold variable interests in other VIEs that are not consolidated because we are not the primary beneficiary. We continually monitor both consolidated and non-consolidated VIEs to determine if any events have occurred that could cause the primary beneficiary to change. | ||
Noncontrolling Interest and Earnings from Consolidated VIE | ||
We account for the noncontrolling interest in our consolidated VIE, CGP LLC, using the hypothetical liquidation at book value (“HLBV”) method to attribute the earnings and losses of CGP LLC between the controlling and noncontrolling interest. Under this method, the noncontrolling interest in the CGP LLC entity is based upon the noncontrolling interest holders' contractual claims on CGP LLC’s accounting balance sheet pursuant to the mandatory liquidation provisions of the operating agreement. Under this approach, the income or loss that represents our noncontrolling interest holders' net income is associated with the increase or decrease in the noncontrolling interest holders' contractual claims on CGP LLC’s balance sheet assuming a hypothetical liquidation at the end of that reporting period when compared with their claims on CGP LLC’s balance sheet assuming a hypothetical liquidation at the beginning of that reporting period, after removing any contributions or distributions. Caesars' resulting net income from the controlling interest is the residual net income from the consolidation of the VIE less the HLBV calculated net income attributable to the noncontrolling interest holder. Due to certain mandatory liquidation provisions of the operating agreement, this could result in a net loss to Caesars consolidated results in periods in which CGP LLC reports net income. | ||
Cash and Cash Equivalents | ||
Cash equivalents are highly liquid investments with original maturities of three months or less from the date of purchase and are stated at the lower of cost or market value. Our cash and cash equivalents of $2,771.2 million as of December 31, 2013, includes $976.9 million held by CGP LLC, which is not available for our use to fund operations or satisfy our obligations. | ||
Restricted Cash | ||
As of December 31, 2013 and 2012, we had $424.3 million and $1,198.2 million of restricted cash, respectively, comprised of current and non-current portions. Proceeds from bond offerings that are in escrow prior to closing and cash reserved under loan agreements for (a) development projects and (b) certain expenditures incurred in the normal course of business, such as interest services, real estate taxes, casualty insurance, and capital improvements, are classified as restricted cash. The current portion is primarily comprised of amounts related to interest payments on outstanding debt, and the non-current portion primarily represents funds reserved for ongoing development projects. In 2012, the current portion included $750.0 million in proceeds under our 9% senior secured notes due 2020, the proceeds of which had been placed into escrow. On February 20, 2013, the escrow conditions were satisfied and the cash was no longer considered restricted. | ||
Receivables | ||
We issue credit to approved casino customers following background checks and investigations of creditworthiness. Business or economic conditions or other significant events could affect the collectibility of these receivables. | ||
Accounts receivable are typically non-interest bearing and are initially recorded at cost. Accounts are written off when management deems the account to be uncollectible. Recoveries of accounts previously written off are recorded when received. We reserve an estimated amount for gaming receivables that may not be collected to reduce receivables to their net carrying amount. Methodologies for estimating the allowance for doubtful accounts range from specific reserves to various percentages applied to aged receivables. Historical collection rates are considered, as are customer relationships, in determining specific reserves. Receivables are reported net of an allowance for doubtful accounts of $162.0 million and $201.7 million as of December 31, 2013 and 2012, respectively. | ||
Casino Reinvestment Development Authority Investment ("CRDA") Obligations | ||
The New Jersey Casino Control Act provides, among other things, for an assessment of licenses equal to 1.25% of gross gaming revenues in lieu of an investment alternative tax equal to 2.5% of gross gaming revenues. The Company may satisfy this investment obligation by investing in qualified eligible direct investments, by making qualified contributions, or by depositing funds with the CRDA. Funds deposited with the CRDA may be used to purchase bonds designated by the CRDA or, under certain circumstances, may be donated to the CRDA in exchange for credits against future CRDA investment obligations. We record an allowance for funds deposited to reduce the deposits to their expected eventual realizable value. | ||
Long-Lived Assets | ||
We have significant capital invested in our long-lived assets, and judgments are made in determining their estimated useful lives and salvage values and if or when an asset (or asset group) has been impaired. The accuracy of these estimates affects the amount of depreciation and amortization expense recognized in our financial results and whether we have a gain or loss on the disposal of an asset. We assign lives to our assets based on our standard policy, which is established by management as representative of the useful life of each category of asset. | ||
We review the carrying value of our long-lived assets whenever events and 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. We typically estimate the fair value of assets starting with a "Replacement Cost New" approach and then deduct appropriate amounts for both functional and economic obsolescence to arrive at the fair value estimates. Other factors considered by management in performing this assessment may include current operating results, trends, prospects, and third-party appraisals, as well as the effect of demand, competition, and other economic, legal, and regulatory factors. In estimating expected future cash flows for determining whether an asset is impaired, assets are grouped at the lowest level of identifiable cash flows, which, for most of our assets, is the individual property. These analyses are sensitive to management assumptions and the estimates of the obsolescence factors. Changes in these assumptions and estimates could have a material impact on the analyses and the consolidated financial statements. | ||
Additions to property and equipment are stated at cost. We capitalize the costs of improvements that extend the life of the asset. We expense maintenance and repair costs as incurred. Gains or losses on the dispositions of property and equipment are recognized in the period of disposal. 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. Interest capitalized was $37.8 million and $38.2 million for the years ended December 31, 2013 and 2012, respectively. | ||
Depreciation is calculated using the straight-line method over the shorter of the estimated useful life of the asset or the related lease as follows: | ||
Useful Lives | ||
Land improvements | 12 years | |
Buildings | 30 to 40 years | |
Leasehold improvements | 5 to 15 years | |
Riverboats and barges | 30 years | |
Furniture, fixtures, and equipment | 2.5 to 20 years | |
Goodwill and Other Non-Amortizing Intangible Assets | ||
The purchase price of an acquisition is allocated to the underlying assets acquired and liabilities assumed based upon their estimated fair values at the date of acquisition. We determine the estimated fair values after review and consideration of relevant information including discounted cash flows, quoted market prices, and estimates made by management. To the extent the purchase price exceeds the fair value of the net identifiable tangible and intangible assets acquired and liabilities assumed, such excess is recorded as goodwill. | ||
We have historically performed our annual goodwill impairment assessment as of September 30, and finalized the assessment in the following quarter in some years. In 2013, we performed this September 30 assessment and subsequently changed our testing date to October 1. We believe this change was preferable because it will allow us to take advantage of the additional time and resources available to perform the test. This change was not applied retrospectively as it is impracticable to do so because retrospective application would have required the application of significant estimates and assumptions without the use of hindsight. We did not change our methodology with the change in our testing date. We perform this assessment more frequently if impairment indicators exist. We determine the estimated fair value of each reporting unit based on a combination of earnings before interest, taxes, depreciation and amortization ("EBITDA"), valuation multiples, and 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 evaluate the aggregate fair value of all of our reporting units and other non-operating assets in comparison to our aggregate debt and equity market capitalization at the test date. EBITDA multiples and discounted cash flows are common measures used to value businesses in our industry. | ||
We have historically performed an annual impairment assessment of other non-amortizing intangible assets as of September 30. We have also historically performed an assessment more frequently if impairment indicators exist. In 2013, we performed this September 30 assessment and subsequently changed our testing date to October 1. We did not change our methodology with the change in our testing date. We perform this assessment more frequently if impairment indicators exist. We determine the estimated fair value of our non-amortizing intangible assets by primarily using the "Relief From Royalty Method" and "Excess Earnings Method" under the income approach. | ||
The annual evaluation of goodwill and other non-amortizing intangible assets requires the use of estimates about future operating results, valuation multiples, and discount rates to determine their estimated fair value. Changes in these assumptions can materially affect these estimates. Thus, to the extent gaming volumes deteriorate further in the near future, discount rates increase significantly, or we do not meet our projected performance, we could have additional impairments to record in the future and such impairments could be material. | ||
Debt Discounts or Premiums and Debt Issue Costs | ||
Debt discounts or premiums and debt issue costs incurred in connection with the issuance of debt are capitalized and amortized to interest expense based on the related debt agreements primarily using the effective interest method. Unamortized discounts or premiums are written off and included in our gain or loss calculations to the extent we retire debt prior to its original maturity date. Unamortized debt issue costs are included in deferred charges and other in our Consolidated Balance Sheets. | ||
Total Rewards Point Liability Program | ||
Our customer loyalty program, Total Rewards, offers incentives to customers who gamble at all of our casino entertainment facilities located in the U.S. and Canada for on-property entertainment expenses, including gaming, hotel, dining, and retail shopping. Under the program, customers are able to accumulate, or bank, reward credits over time that they may redeem at their discretion under the terms of the program. The reward credit balance will be forfeited if the customer does not earn a reward credit over the prior six-month period. As a result of the ability of the customer to bank the reward credits, we accrue the estimated cost of fulfilling the redemption of reward credits, after consideration of estimated forfeitures (referred to as "breakage"), as they are earned. The estimated value of reward credits is expensed as the reward credits are earned by customers and is included in direct casino expense. To arrive at the estimated cost associated with reward credits, estimates and assumptions are made regarding incremental marginal costs of the benefits, breakage rates, and the mix of goods and services for which reward credits will be redeemed. We use historical data to assist in the determination of estimated accruals. Such amounts are included within accrued expenses. See Note 8, "Detail of Accrued Expenses and Other Current Liabilities." | ||
In addition to reward credits, customers at certain of our properties can earn points based on play that are redeemable in the form of credits playable at the gaming machine. We accrue the cost of redeemable points, after consideration of estimated breakage, as they are earned. The cost is recorded as contra-revenue and is included in casino promotional allowances. | ||
Self-Insurance Accruals | ||
We are self-insured for various levels of workers' compensation, property and general liability, employee medical coverage, and other coverage. Insurance claims and reserves include accruals of estimated settlements for known claims, as well as accruals of actuarial estimates of incurred but not reported claims. In estimating these reserves, historical loss experience and judgments about the expected levels of costs per claim are considered. These claims are accounted for based on actuarial estimates of the undiscounted claims, including those claims incurred but not reported. We believe the use of actuarial methods to account for these liabilities provides a consistent and effective way to measure these highly judgmental accruals. We regularly monitor the potential for changes in estimates, evaluate our insurance accruals, and adjust our recorded provisions. | ||
Revenue Recognition | ||
Casino Revenues | ||
Casino revenues are measured by the aggregate net difference between gaming wins and losses, with liabilities recognized for funds deposited by customers before gaming play occurs and for chips in the customers’ possession. Food and beverage, rooms, and other operating revenues are recognized when services are performed. Advance deposits on rooms and advance ticket sales are recorded as customer deposits until services are provided to the customer. Sales taxes and other taxes collected from customers on behalf of governmental authorities are accounted for on a net basis and are not included in net revenues or operating expenses. | ||
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 promotional allowances. See Note 13, "Casino Promotional Allowances." | ||
Interactive Entertainment—Social and Mobile Games | ||
CIE derives revenue from the sale of virtual currencies within casino-themed social and mobile games that are played on various global social and mobile third-party platforms. Within the Slotomania application, game players may collect free virtual coins on a regular basis, may send "gifts" of either free virtual coins or free slot machine spins to their friends through interactions with the Facebook application, and may "earn" free virtual coins through targeted marketing promotions. Within the Bingo Blitz application, game players may collect free bingo credits on a regular basis, may send "gifts" of free bingo credits or other virtual items to their friends through interactions with the Facebook application, and may "earn" free bingo credits through targeted marketing promotions. Virtual coins in Slotomania and virtual bingo credits in Bingo Blitz (collectively referred to as "virtual currency" or "virtual goods") allow the game players to play the respective games free of charge. A game player may purchase additional virtual goods above and beyond the level of free virtual goods available to that player. Purchased virtual goods are deposited into the player's account and are then not separately identifiable from virtual goods previously obtained by the player. | ||
CIE is able to reliably estimate the period of time over which virtual currency is consumed. As such, CIE recognizes revenue using an item-based revenue model. However, CIE is unable to distinguish between when purchased or free virtual currency is being consumed; therefore, CIE must estimate the amount of outstanding purchased virtual currency at each reporting period based on customer behavior. CIE records within other current liabilities the deferred revenue associated with its social and mobile games, and also records within other current assets the prepaid platform fees associated with this deferred revenue. | ||
CIE's applications are played on various social and mobile third-party platforms for which such third parties collect monies from CIE’s customers and pay CIE an amount after deducting a platform fee. CIE is the primary obligor with its customers under these arrangements, retains the ability to establish the pricing for its virtual currencies, and assumes all credit risk with its customers. Based upon these facts, CIE recognizes revenues from its game-playing customers on a gross basis and related platform fees are recorded as a component of operating expense. | ||
Advertising | ||
The Company expenses the production costs of advertising the first time the advertising takes place. Advertising expense was $207.9 million, $194.2 million, and $190.1 million for the years ended December 31, 2013, 2012, and 2011, respectively. | ||
Income Taxes | ||
The effect on the income tax provision and deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. We have provided a valuation allowance on certain foreign and state net operating losses ("NOLs"), and other federal, state, and foreign deferred tax assets. NOLs and other federal, state, and foreign deferred tax assets were not deemed realizable based upon near term estimates of future taxable income. | ||
We classify reserves for tax uncertainties within accrued expenses and deferred credits and other in our Consolidated Balance Sheets, separate from any related income tax payable, which is also reported within accrued expenses, or deferred income taxes. Reserve amounts relate to any potential income tax liabilities resulting from uncertain tax positions, as well as potential interest or penalties associated with those liabilities. | ||
We file income tax returns, including returns for our subsidiaries, with federal, state, and foreign jurisdictions, except for CGP LLC, which is filed as part of a separate tax filing group. We are under regular and recurring audit by the Internal Revenue Service ("IRS") and various state taxing authorities on open tax positions, and it is possible that the amount of the liability for unrecognized tax benefits could change during the next 12 months. |
Recently_Issued_Accounting_Pro
Recently Issued Accounting Pronouncements | 12 Months Ended |
Dec. 31, 2013 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | ' |
Recently Issued Accounting Pronouncements | ' |
Recently Issued Accounting Pronouncements | |
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 do not expect this new guidance to have a material impact on our consolidated financial position, results of operations and cash flows. |
Acquisitions_Dispositions_and_
Acquisitions, Dispositions and Divestitures | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Business Combinations [Abstract] | ' | |||||||||||
Acquisitions, Dispositions and Divestitures | ' | |||||||||||
Acquisitions, Dispositions, and Divestitures | ||||||||||||
Acquisitions | ||||||||||||
Baltimore, Maryland | ||||||||||||
In July 2012, a consortium led by the Company was awarded the license to operate a casino in downtown Baltimore. In October 2012, Caesars entered into definitive agreements with other investors to form a venture that will build and own the casino, subject to regulatory approvals and receipt of project financing. Pursuant to the agreements, we committed to contribute a maximum of$78.0 million in cash capital to the venture for the purpose of developing and constructing the casino. We contributed $38.0 million in capital in 2013 and $17.7 million in 2012. As of December 31, 2013, CGP LLC had an approximately 52% indirect ownership interest in the venture. | ||||||||||||
Buffalo Studios, LLC | ||||||||||||
In December 2012, CIE purchased substantially all of the net assets of Buffalo Studios, LLC ("Buffalo Studios"), 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. The purchase price was allocated to total assets of $52.9 million and liabilities of $7.7 million. As of December 31, 2013, the estimated fair value of the earnout was $58.5 million. The $52.9 million increase in fair value was recognized in acquisition and integration costs in our Consolidated Statements of Operations. | ||||||||||||
Dispositions | ||||||||||||
Conrad Punta del Este Resort and Casino | ||||||||||||
In May 2013, we formed a strategic relationship with Enjoy S.A. (“Enjoy”) in Latin America. 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 note receivable of $31.9 million, and a 4.5% equity stake in Enjoy. | ||||||||||||
In connection with the transaction, Enjoy assumed control of the Baluma S.A. board and 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 | ||||||||||||
In March 2013, we permanently closed our Alea Leeds casino in England. As a result of the closure, 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, primarily related to non-cancellable contract costs of $15.1 million. During the year ended December 31, 2013, the Company paid $2.0 million of exit-related costs, accreted interest expense of $1.4 million, and recognized increases in the liability of $1.6 million primarily due to the impact of currency translation adjustments. As of December 31, 2013, $16.8 million remains accrued for exit-related costs. We have presented the operations of Alea Leeds as discontinued operations in the Consolidated Condensed Statements of Operations for all years presented. See "Discontinued Operations" below. | ||||||||||||
Macau Land Concession | ||||||||||||
In 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 recognized an impairment of $101.0 million. We subsequently began discussions with interested investors regarding a sale of the subsidiaries that held the Macau Land Concession. As a result of this plan of disposal, we classified the assets and liabilities as held for sale as of December 31, 2012, and presented the operations of the business as discontinued operations for years ended December 31, 2013 and 2012. | ||||||||||||
In November 2013, we completed the sale of our interest in the Macau Land Concession to Pearl Dynasty Investments Limited for a total sales price of $438.0 million. We recognized an additional impairment of $5.8 million in 2013 prior to the sale. We expect to use the net proceeds from the sale, which were $424.9 million, to fund CEOC investments in useful assets, including capital expenditures, or to repurchase certain outstanding CEOC debt. | ||||||||||||
Suffolk Investment | ||||||||||||
Since 2011, we have invested $101.9 million in Sterling Suffolk, the owner of Suffolk Downs racecourse in East Boston, Massachusetts. This investment was comprised of a $41.9 million convertible preferred equity investment and a $60.0 million common equity ownership in Sterling Suffolk, recorded as an intangible asset representing the right to manage a potential future gaming facility. On October 18, 2013, Caesars agreed to withdraw its application as a qualifier in Massachusetts. In December 2013, we entered into a termination and release agreement with Sterling Suffolk (“Suffolk Agreement”), pursuant to which we terminated several agreements between us and Sterling Suffolk. Based on this termination and on our assessment of the recoverability of the investment, during the quarter ended December 31, 2013, we recorded an impairment charge totaling $101.9 million, the full amount of our cash investment, of which $41.9 million was recorded in write-downs, reserves, and project opening costs, net of recoveries and $60.0 million was recorded in impairments of intangible and tangible assets. As part of the Suffolk Agreement, we agreed to place our common equity interest into a divestiture trust, and our convertible preferred interest was redeemed in exchange for a $28.5 million promissory note (“Suffolk Note”). The Suffolk Note matures in April 2015, or earlier upon the occurrence of certain events. Given the uncertainty related to these events and the resulting risk of collection, we recorded a full reserve on the Suffolk Note during 2013. | ||||||||||||
Other Dispositions | ||||||||||||
In October 2013, we entered into an agreement to sell the Claridge Hotel Tower, which was part of the Bally's Atlantic City asset group, for $12.5 million. The Claridge Hotel Tower assets have been classified as held for sale as of December 31, 2013. This transaction closed in February 2014. | ||||||||||||
In November 2012, we sold our Harrah's St. Louis casino and recorded a pre-tax gain of $9.3 million on the sale. We have presented the results of Harrah's Maryland Heights, LLC, previous owner of the Harrah's St. Louis casino, as discontinued operations for the year ended December 31, 2013. See "Discontinued Operations" below. | ||||||||||||
Other Property Matters | ||||||||||||
In August 2012, one of our subsidiaries sold an ownership interest in ThistleDown Racetrack, LLC ("ThistleDown Racino"), our thoroughbred racing facility in Cleveland, Ohio, to Rock Gaming for $28.6 million and contributed its remaining 46.61% interest in ThistleDown Racino to Rock Ohio Caesars LLC ("ROC") in exchange for additional equity interests in ROC. Rock Gaming then purchased a portion of equity interests in ROC from our subsidiary for $14.3 million in order to retain an 80% ownership interest in ROC. We recognized an $11.0 million gain as a result of these transactions. | ||||||||||||
The CRDA collects casino reinvestment funds (also known as investment alternative tax obligation deposits, or "IAT") equal to 1.25% of monthly gross gaming revenues on a monthly basis. In December 2013, we conveyed land parcels with an appraised value totaling $7.3 million to the CRDA. As consideration, we will receive a credit against future IAT obligations equal to the appraised value of the land parcels. Prior to the disposal, we recorded a tangible asset impairment of $21.7 million in 2013 to reduce the recorded book valued of the assets to fair value. | ||||||||||||
Amounts Related to Assets and Liabilities Held for Sale | ||||||||||||
As of December 31, | ||||||||||||
(In millions) | 2013 | 2012 | ||||||||||
Assets | ||||||||||||
Cash and cash equivalents | $ | — | $ | 4.7 | ||||||||
Other current assets | — | 0.4 | ||||||||||
Assets held for sale, current | $ | — | $ | 5.1 | ||||||||
Property and equipment, net | $ | 11.9 | $ | 471.2 | ||||||||
Assets held for sale, non-current | $ | 11.9 | $ | 471.2 | ||||||||
Liabilities | ||||||||||||
Accounts payable and accrued expenses | $ | — | $ | 3.8 | ||||||||
Liabilities held for sale, current | $ | — | $ | 3.8 | ||||||||
Deferred credits and other | $ | — | $ | 0.2 | ||||||||
Deferred income taxes | — | 51.9 | ||||||||||
Liabilities held for sale, non-current | $ | — | $ | 52.1 | ||||||||
Amounts Related to Discontinued Operations | ||||||||||||
Years Ended December 31, | ||||||||||||
(In millions) | 2013 | 2012 | 2011 | |||||||||
Net revenues | ||||||||||||
Harrah's St. Louis | $ | — | $ | 208.4 | $ | 257.7 | ||||||
Macau | 2.9 | 3.6 | 3.5 | |||||||||
Alea Leeds | 0.4 | 6.3 | 6.7 | |||||||||
Total net revenues | $ | 3.3 | $ | 218.3 | $ | 267.9 | ||||||
Pre-tax income/(loss) from operations | ||||||||||||
Harrah's St. Louis | $ | (0.8 | ) | $ | 62.2 | $ | 75.3 | |||||
Macau | (5.1 | ) | (121.6 | ) | (16.1 | ) | ||||||
Alea Leeds | (23.9 | ) | (5.1 | ) | (4.1 | ) | ||||||
Total pre-tax income/(loss) from discontinued operations | $ | (29.8 | ) | $ | (64.5 | ) | $ | 55.1 | ||||
Income/(loss), net of income taxes | ||||||||||||
Harrah's St. Louis | $ | (0.6 | ) | $ | (1.7 | ) | $ | 45.8 | ||||
Macau | (5.5 | ) | (107.8 | ) | (14.4 | ) | ||||||
Alea Leeds | (23.9 | ) | (5.1 | ) | (4.1 | ) | ||||||
Total income/(loss) from discontinued operations, net of income taxes | $ | (30.0 | ) | $ | (114.6 | ) | $ | 27.3 | ||||
Caesars_Growth_Partners_LLC_Tr
Caesars Growth Partners, LLC Transactions (Notes) | 12 Months Ended | |
Dec. 31, 2013 | ||
Equity Method Investments and Joint Ventures [Abstract] | ' | |
Caesars Growth Partners, LLC Transactions | ' | |
Caesars Growth Partners, LLC Transactions | ||
Formation Transactions | ||
Caesars Acquisition Company ("CAC") was formed to own 100% of the voting membership units in CGP LLC. CGP LLC was formed for the purpose of acquiring certain businesses and assets of Caesars Entertainment. | ||
On October 21, 2013, the joint venture was formed between subsidiaries of Caesars Entertainment and CAC through the execution of the series of transactions described below (the "Transactions"): | ||
(i) | The Class A common stock of CAC was made available via a subscription rights offering by Caesars Entertainment to its shareholders as of October 17, 2013, the record date (the "CAC Rights Offering"), whereby each subscription right entitled its holder to purchase from CAC one share of CAC's Class A common stock or the right to retain such subscription right; | |
(ii) | Sponsors exercised their basic subscription rights in full and purchased $457.8 million worth of CAC's Class A common stock at a price of $8.64 per whole share; | |
(iii) | CAC used the proceeds from the exercise of the basic subscription rights in (ii) above to purchase 100% of the voting units of CGP LLC; | |
(iv) | CGP LLC subsequently used $360.0 million of the proceeds received from CAC in (iii) above to purchase from CEOC (we refer to the following assets as the "Purchased Assets"): | |
a. | the equity interests of a subsidiary of PHW Las Vegas, LLC that holds all of the assets and liabilities formerly held directly by PHW Las Vegas, LLC, including the Planet Hollywood Resort & Casino in Las Vegas ("Planet Hollywood"); | |
b. | the equity interests of Caesars Baltimore Investment Company, LLC, the entity that indirectly holds interests in the owner of Horseshoe Baltimore in Maryland (the "Maryland Joint Venture"), a licensed casino development project expected to open in the third quarter of 2014; and | |
c. | a 50% interest in the management fee revenues of PHW Manager, LLC, which manages Planet Hollywood, and Caesars Baltimore Management Company LLC, which holds an agreement to manage the Maryland Joint Venture. | |
(v) | Caesars Entertainment contributed all of the shares of CIE’s outstanding common stock held by a subsidiary and approximately $1.1 billion in aggregate principal amount of senior notes held by a subsidiary (the "CEOC Notes" and, together with the shares of CIE, the "Contributed Assets") to CGP LLC, in exchange for all of CGP LLC’s non-voting units. | |
Prior to the consummation of the Transactions, Planet Hollywood was owned by PHW Las Vegas, LLC ("PHW Las Vegas"). On October 21, 2013, in connection with and prior to the closing of the Transactions, PHW Las Vegas contributed and assigned to PHWLV, a wholly owned subsidiary of PHW Las Vegas (“PHWLV”), and PHWLV accepted and assumed from PHW Las Vegas, all of its assets and liabilities of PHW Las Vegas, including Planet Hollywood. | ||
The closing of the CAC Rights Offering for subscription rights not previously exercised by recipients of the rights, and for any over-subscription privileges, including oversubscription by the Sponsors, occurred on November 18, 2013. CAC distributed a total of 135,771,882 shares of Class A common stock to the holders of subscription rights who validly exercised their subscription rights and paid the subscription price in full. CAC received aggregate gross proceeds from the CAC Rights Offering of approximately $1,173.1 million. | ||
Also on October 21, 2013, the aggregate fair market value of the subscription rights issued by Caesars Entertainment was restored to Caesars Entertainment from CGP LLC through a return of senior notes issued by CEOC and previously contributed to CGP LLC by CEC. The amount of the restoration was approximately $21.1 million. | ||
CGP LLC reimbursed Caesars Entertainment and CAC for certain fees and expenses incurred in connection with this transaction. | ||
Contingently Issuable Non-Voting Membership Units | ||
Pursuant to the terms of the Transactions, CGP LLC is obligated to issue additional non-voting membership units to Caesars Entertainment to the extent that the earnings from CIE's social and mobile games business exceeds a specified threshold amount in 2015. The number of units to be received is capped at a value of $225 million divided by the value of the non-voting units at the date of the CGP LLC transaction. | ||
CGP LLC recorded a liability of $167.8 million, representing the fair value of the additional non-voting membership units contingently issuable to Caesars Entertainment during 2016 under the CIE earnout liability described above. The contingently issuable membership units' fair value is based upon a multiple of EBITDA for the calendar year 2015 in excess of a specified minimum threshold and includes a maximum payout threshold. The fair value of the CIE earnout liability as of December 31, 2013 was $306.5 million. Such liability is eliminated in our consolidation of CGP LLC. | ||
Call Right | ||
Pursuant to the certificate of incorporation of CAC and the CGP Operating Agreement, after October 21, 2016, Caesars Entertainment and/or its subsidiaries will have the right, which it may assign to any of its affiliates or to any transferee of all non-voting units of CGP LLC held by subsidiaries of Caesars Entertainment, to acquire all or a portion of the voting units of CGP LLC (or, at the election of CAC, shares of CAC’s Class A common stock) not otherwise owned by Caesars Entertainment and/or its subsidiaries at such time. The purchase consideration may be, at Caesars Entertainment’s option, cash or shares of Caesars Entertainment’s common stock valued at market value, net of customary market discount and expenses, provided that the cash portion will not exceed 50% of the total consideration in any exercise of the call right. The purchase price will be the greater of (i) the fair market value of the voting units of CGP LLC (or shares of CAC’s Class A common stock) at such time based on an independent appraisal or (ii) the initial capital contribution in respect of such units plus a 10.5% per annum return on such capital contribution, subject to a maximum return on such capital contribution of 25% per annum, taking into account prior distributions with respect to such units. | ||
The call right may be exercisable in part by Caesars Entertainment (up to three times), but until the call right is exercised in full, any voting units of CGP LLC (or shares of CAC’s Class A common stock) acquired by Caesars Entertainment will be converted into non-voting units of CGP LLC (or non-voting shares of CAC’s Class B common stock). Additionally, the call right may only be exercised by Caesars Entertainment and/or its subsidiaries if, at the time of such exercise, (w) Caesars Entertainment and CAC enter into a resale registration rights agreement with respect to the shares of Caesars Entertainment common stock used as all or a portion of the purchase consideration in connection with the exercise of the call right, (x) the common stock of Caesars Entertainment (i) is registered with the Securities and Exchange Commission, (ii) is listed for trading and trades on a national securities exchange, and (iii) issuable upon exercise of the call right will represent, in the aggregate, not more than one half of the total Caesars Entertainment’s common stock issued and outstanding giving effect to the exercise of the call right, (y) Caesars Entertainment has a minimum liquidity of $1.0 billion and a maximum net debt leverage ratio of 9.00 to 1.00, and (z) no event of default has occurred and is in effect under any financing agreement of Caesars Entertainment or its subsidiaries. Further, in the event that a stockholder vote of Caesars Entertainment is required in connection with the exercise of such call right, receipt of affirmative approval of such vote will be a condition to the exercise of the call right and at the closing of the Transactions, affiliates of the Sponsors will enter into a voting support agreement in favor of any such stockholder approval. In addition, a majority of the independent directors of the board of directors of Caesars Entertainment must approve the exercise of the call right by Caesars Entertainment and/or its subsidiaries. The call right will be transferable to a transferee that also receives a transfer of all the non-voting units of CGP LLC, and exercisable by the transferee upon the same terms and conditions as apply to Caesars Entertainment and its subsidiaries. | ||
Following October 21, 2018 and until April 21, 2022, our Board will have the right to cause a liquidation of CGP LLC, including the sale or winding up of CGP LLC, or other monetization of all of its assets and the distribution of the proceeds remaining after satisfaction of all liabilities of CGP LLC to the holders of CGP LLC’s units according to the waterfall described below. On April 21, 2022 (unless otherwise agreed by Caesars Entertainment and CAC), if our Board has not previously exercised its liquidation right, the CGP Operating Agreement provides that CGP LLC shall, and our Board shall cause CGP LLC to, effect a liquidation. | ||
Upon a liquidation, partial liquidation or sale of material assets, all net cash and other assets not monetizable of CGP LLC shall, subject to applicable gaming regulatory laws, be distributed as follows: (i) first, to all units held by CAC until amounts distributed equal return of CAC’s initial capital contribution plus a 10.5% per annum of return on such capital contribution (such return to begin accruing on the proceeds in excess of the purchase price of Planet Hollywood, Horseshoe Baltimore and 50% of the related management fees only upon the investment of such excess proceeds by CGP LLC); (ii) second, to all units held by Caesars Entertainment and/or its subsidiaries until Caesars Entertainment catches up to its respective amount distributed in provision (i) (including the 10.5% per annum of return on the initial capital contribution) and (iii) third, to all holders of units pro rata. | ||
The structure pursuant to which CGP LLC will effect a liquidating distribution, sale of CGP LLC or other similar transaction that provides liquidity to the holders of CGP LLC’s units as described above will be determined by a special-purpose Liquidation Committee that will include representatives from Caesars Entertainment and CAC. In connection with any liquidation of CGP LLC, CAC will have an approval right over any sale or other monetization of assets of CGP LLC that would not exceed the greater of (x) the book value of CGP LLC, and (y) the value of CGP LLC as determined by an appraiser selected by CAC. | ||
CIE Unsecured Intercompany Loan | ||
CIE has entered into an unsecured credit facility with CEC (the "CEC Credit Facility") whereby CEC provided to CIE unsecured intercompany loans as approved by CIE on an individual transaction basis. In connection with the purchase of Playtika in 2011 and the December 2012 Buffalo Studios acquisition, CIE borrowed $126.4 million for Playtika and $42.0 million for Buffalo Studios under the CEC Credit Facility. The outstanding CIE balance on the CEC Credit Facility as of December 31, 2013, was $39.8 million. No principal payments are required under the Credit Facility until its maturity date of November 29, 2016. The unsecured intercompany loans bear interest on the unpaid principal amounts at a rate per annum equal to LIBOR plus 5%. The CEC Credit Facility does not have any restrictive or affirmative covenants. The CEC Credit Facility eliminates with the consolidation of CGP LLC. | ||
Consolidation as a Variable Interest Entity | ||
In October 2013, Caesars and its subsidiaries, together with Caesars Acquisition Company (“CAC”) and CGP LLC consummated the Caesars Growth Partners, LLC Transaction described above. Because the equity holders in CGP LLC receive returns disproportionate to their voting interests and substantially all the activities of CGP LLC are related to Caesars, CGP LLC has been determined to be a variable interest entity. CAC is the sole voting member of CGP LLC - neither CAC nor CGP LLC guarantee any of Caesars’ debt. The creditors or beneficial holders of CGP LLC have no recourse to the general credit of Caesars Entertainment Corporation. Caesars has certain obligations to CGP LLC through the management and services agreements. | ||
For accounting purposes, the transactions between CGP LLC and CEOC have been determined to be a reorganization among entities under common control. Because substantially all the activities of CGP LLC are related to Caesars and due to the factors set forth below, we have concluded that we are required to consolidate it under accounting rules. | ||
We have reached this conclusion based upon the weighting of a number of items, including the following: (i) the close association that CGP LLC has with Caesars, including the fact that all of the assets and businesses owned by CGP LLC were acquired from Caesars; (ii) Caesars through CEOC, has ongoing asset and management services agreements with each of the properties owned by CGP LLC; and (iii) Caesars has the obligation to absorb losses and the right to receive residual returns that could potentially be significant to CGP LLC. See above for greater detail on the Caesars Growth Partners, LLC Transaction and our related accounting. During the 2013 period in which we consolidated CGP LLC as a VIE (subsequent to the Transactions), we recognized net revenues of $141.7 million and net income attributable to Caesars of $3.9 million. |
Property_and_Equipment_net
Property and Equipment, net | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||||||
Property and Equipment, net | ' | |||||||||||
Property and Equipment, net | ||||||||||||
As of December 31, | ||||||||||||
(In millions) | 2013 | 2012 | ||||||||||
Land and land improvements | $ | 6,266.80 | $ | 7,208.80 | ||||||||
Buildings, riverboats, and improvements | 6,668.10 | 8,725.70 | ||||||||||
Furniture, fixtures, and equipment | 2,297.70 | 2,491.00 | ||||||||||
Construction in progress | 824.6 | 378.3 | ||||||||||
16,057.20 | 18,803.80 | |||||||||||
Less: accumulated depreciation | (2,819.3 | ) | (3,102.1 | ) | ||||||||
$ | 13,237.90 | $ | 15,701.70 | |||||||||
Depreciation Expense | ||||||||||||
Years Ended December 31, | ||||||||||||
(In millions) | 2013 | 2012 | 2011 | |||||||||
Depreciation expense | $ | 571.6 | $ | 751.6 | $ | 724.7 | ||||||
Depreciation expense is included in depreciation and amortization, corporate expense, and income from discontinued operations. | ||||||||||||
Tangible asset impairments | ||||||||||||
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. We also test properties or asset groups for impairment when those assets are more likely than not to be disposed of by sale or other means or when we identify evidence of deteriorating market values of assets in a region. | ||||||||||||
Atlantic City, New Jersey | ||||||||||||
During the fourth quarter 2013, casino property sales occurred in the Atlantic City market. The pricing of the transactions indicated a substantial decline in market price had occurred for Casinos in Atlantic City. As a result of this triggering event, the Company determined it was necessary to perform a recoverability test of the carrying amount of our Atlantic City properties. It we determined the carrying values of our Atlantic City properties were not recoverable. Therefore, we performed a fair value assessment of the properties. Impairment losses of $2,356.8 million were recorded in 2013 primarily as a result of the assessment. The Company recorded an impairment of $450.0 million in 2012 as a result of evaluating options for one of its Atlantic City properties for participation in the market. | ||||||||||||
Tunica, Mississippi | ||||||||||||
As a result of downward pressure on the actual results from operations compared with prior years and with previous forecasts for one of the properties in the Tunica market, the Company determined it was necessary to perform a recoverability test of the carrying amount of the property. It was determined the carrying value was not recoverable. Therefore, we performed a fair value assessment of the property and recorded an impairment loss of $114.8 million in 2013. | ||||||||||||
Biloxi, Mississippi | ||||||||||||
As a result of a possible transaction involving certain of our land holdings in Biloxi, we tested the land holdings for recoverability in 2013. This analysis resulted in tangible asset impairments of $79.3 million in 2013. In 2012, we recorded tangible asset impairments of $180.5 million on a previously halted development project in Biloxi. | ||||||||||||
Other | ||||||||||||
We recorded tangible asset impairments of $13.9 million in 2013 as a result of other identified triggering events for long lived assets owned by the Company. |
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets | 12 Months Ended | |||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||||||||
Goodwill and Other Intangible Assets | ' | |||||||||||||||||||||||||
Goodwill and Other Intangible Assets | ||||||||||||||||||||||||||
Changes in Carrying Value of Goodwill | ||||||||||||||||||||||||||
Gross Goodwill | Accumulated Impairment | Net Carrying Value | ||||||||||||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||
Balance as of January 1 | $ | 9,433.70 | $ | 9,438.60 | $ | (6,273.4 | ) | $ | (6,078.2 | ) | $ | 3,160.30 | $ | 3,360.40 | ||||||||||||
Additions | 15.1 | 14.3 | — | — | 15.1 | 14.3 | ||||||||||||||||||||
Impairments | — | — | (104.3 | ) | (195.2 | ) | (104.3 | ) | (195.2 | ) | ||||||||||||||||
Contribution of ThistleDown to ROC venture | — | (20.1 | ) | — | — | — | (20.1 | ) | ||||||||||||||||||
Disposals (1) | (14.9 | ) | — | — | — | (14.9 | ) | — | ||||||||||||||||||
Other (2) | 7.1 | 0.9 | — | — | 7.1 | 0.9 | ||||||||||||||||||||
Balance as of December 31 | $ | 9,441.00 | $ | 9,433.70 | $ | (6,377.7 | ) | $ | (6,273.4 | ) | $ | 3,063.30 | $ | 3,160.30 | ||||||||||||
(1) During 2013, we sold 45% of our interest in Baluma S.A. See Note 4. | ||||||||||||||||||||||||||
(2) Related to CIE acquisitions of Buffalo Studios and other CIE acquisitions. | ||||||||||||||||||||||||||
In 2012, we contributed our interests in ThistleDown to ROC and recorded a $20.1 million reduction of related goodwill. The Company did not have any reporting units with a zero or negative book value as of December 31, 2013. | ||||||||||||||||||||||||||
Changes in Carrying Value of Intangible Assets Other Than Goodwill | ||||||||||||||||||||||||||
Amortizing | Non-Amortizing | Total | ||||||||||||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||
Balance as of January 1 | $ | 1,027.60 | $ | 1,163.70 | $ | 2,958.10 | $ | 3,199.50 | $ | 3,985.70 | $ | 4,363.20 | ||||||||||||||
Additions | 19.1 | 37.8 | — | — | 19.1 | 37.8 | ||||||||||||||||||||
Impairments | (150.3 | ) | — | (199.6 | ) | (242.0 | ) | (349.9 | ) | (242.0 | ) | |||||||||||||||
Amortization expense | (164.5 | ) | (174.6 | ) | — | — | (164.5 | ) | (174.6 | ) | ||||||||||||||||
Disposals | — | — | — | — | — | — | ||||||||||||||||||||
Other | (1.9 | ) | 0.7 | (0.8 | ) | 0.6 | (2.7 | ) | 1.3 | |||||||||||||||||
Balance as of December 31 | $ | 730 | $ | 1,027.60 | $ | 2,757.70 | $ | 2,958.10 | $ | 3,487.70 | $ | 3,985.70 | ||||||||||||||
During 2013, we increased our amortizing intangible assets $19.1 million as a result of entering into certain contractual arrangements. During 2012, we acquired substantially all of the net assets of Buffalo Studios and recorded amortizing intangible assets of $37.8 million related to developed games and game titles. | ||||||||||||||||||||||||||
Our impairment assessments of amortizing intangible assets resulted in impairment charges of $150.3 million in 2013. These impairment charges include the write-off of our $60.0 million intangible assets associated with the Suffolk management rights and certain amortizing intangibles in our Atlantic Coast region. The Atlantic Coast region impairments were primarily the result of a combination of reduced projected revenues within our long-term operating plan and a change in the discount rate. | ||||||||||||||||||||||||||
Impairment Charges for Goodwill and Other Non-amortizing Intangible Assets | ||||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||||
(In millions) | 2013 | 2012 | 2011 | |||||||||||||||||||||||
Goodwill | $ | 104.3 | $ | 195.2 | $ | 3 | ||||||||||||||||||||
Non-amortizing intangible assets: | ||||||||||||||||||||||||||
Trademarks | 101.4 | 209 | 8 | |||||||||||||||||||||||
Gaming Rights and other | 98.2 | 33 | — | |||||||||||||||||||||||
Total impairment charges | $ | 303.9 | $ | 437.2 | $ | 11 | ||||||||||||||||||||
Our annual assessment of goodwill resulted in impairment charges of $104.3 million in 2013 and $195.2 million in 2012. These impairment charges were a result of the combination of a discount rate increase and reduced projected revenues within our long-term operating plan as a result of the economic climate. | ||||||||||||||||||||||||||
Our interim and annual assessments of non-amortizing intangible assets resulted in impairment charges of $199.6 million in 2013 and $242.0 million in 2012. These impairment charges were the result of a combination of reduced projected revenues associated with these intangible assets within our long-term operating plan and a change in the discount rate. | ||||||||||||||||||||||||||
Gross Carrying Value and Accumulated Amortization of Intangible Assets Other Than Goodwill | ||||||||||||||||||||||||||
December 31, 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 | $ | 1,268.10 | $ | (645.5 | ) | $ | 622.6 | $ | 1,456.70 | $ | (618.0 | ) | $ | 838.7 | |||||||||||
Contract rights | 14.5 | 97.6 | (79.4 | ) | 18.2 | 145.1 | (66.3 | ) | 78.8 | |||||||||||||||||
Patented technology | 2.8 | 138.3 | (76.5 | ) | 61.8 | 158.4 | (78.3 | ) | 80.1 | |||||||||||||||||
Gaming rights | 10.5 | 42.8 | (15.4 | ) | 27.4 | 42.8 | (12.8 | ) | 30 | |||||||||||||||||
$ | 1,546.80 | $ | (816.8 | ) | 730 | $ | 1,803.00 | $ | (775.4 | ) | 1,027.60 | |||||||||||||||
Non-amortizing intangible assets | ||||||||||||||||||||||||||
Trademarks | 1,598.20 | 1,699.70 | ||||||||||||||||||||||||
Gaming rights | 1,159.50 | 1,258.40 | ||||||||||||||||||||||||
2,757.70 | 2,958.10 | |||||||||||||||||||||||||
Total intangible assets other than goodwill | $ | 3,487.70 | $ | 3,985.70 | ||||||||||||||||||||||
The aggregate amortization expense for intangible assets that continue to be amortized was $164.5 million in 2013, $174.6 million in 2012 and $156.7 million in 2011. Estimated annual amortization expense for each of the five years from 2014 through 2018 is $136.4 million, $134.9 million, $121.4 million, $110.9 million, and $90.4 million, respectively. |
Detail_of_Accrued_Expenses_and
Detail of Accrued Expenses and Other Current Liabilities | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Detail of Accrued Expenses [Abstract] | ' | |||||||
Detail of Accrued Expenses and Other Current Liabilities | ' | |||||||
Detail of Accrued Expenses and Other Current Liabilities | ||||||||
As of December 31, | ||||||||
(In millions) | 2013 | 2012 | ||||||
Accrued Expenses | ||||||||
Payroll and other compensation | $ | 233.4 | $ | 206.7 | ||||
Self-insurance claims and reserves | 208.2 | 202 | ||||||
Advance deposits | 203.5 | 138.6 | ||||||
Accrued taxes | 130 | 147 | ||||||
Total Rewards liability | 50.1 | 52 | ||||||
Other accruals | 387.1 | 348.4 | ||||||
Total accrued expenses | 1,212.30 | 1,094.70 | ||||||
Liabilities held for sale | — | 3.8 | ||||||
Total | $ | 1,212.30 | $ | 1,098.50 | ||||
Debt
Debt | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||
Debt Disclosure [Abstract] | ' | |||||||||||||||||||||||||||
Debt | ' | |||||||||||||||||||||||||||
Debt | ||||||||||||||||||||||||||||
Final | Rate(s) | Face Value | Book Value | Book Value | ||||||||||||||||||||||||
(Dollars in millions) | Maturity | December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||||
CEOC Debt | ||||||||||||||||||||||||||||
Credit Facilities (1) | ||||||||||||||||||||||||||||
Term Loans B1 - B3 | 2015 | 3.24% | $ | 29 | $ | 29 | $ | 1,025.80 | ||||||||||||||||||||
Term Loan B4 | 2016 | 9.50% | 959.8 | 948.1 | 954.5 | |||||||||||||||||||||||
Term Loan B5 | 2018 | 4.49% | 991.9 | 989.3 | 1,218.80 | |||||||||||||||||||||||
Term Loan B6 (5) | 2018 | 5.49% | 2,431.90 | 2,399.90 | 2,812.60 | |||||||||||||||||||||||
Secured Debt | ||||||||||||||||||||||||||||
Senior Secured Notes (1) | 2017 | 11.25% | 2,095.00 | 2,066.40 | 2,060.20 | |||||||||||||||||||||||
Senior Secured Notes (1) | 2020 | 8.50% | 1,250.00 | 1,250.00 | 1,250.00 | |||||||||||||||||||||||
Senior Secured Notes (1) | 2020 | 9.00% | 3,000.00 | 2,954.50 | 1,486.90 | |||||||||||||||||||||||
Second-Priority Senior Secured Notes (1) | 2018 | 12.75% | 750 | 743.9 | 742.9 | |||||||||||||||||||||||
Second-Priority Senior Secured Notes (1) | 2018 | 10.00% | 4,528.10 | 2,433.20 | 2,260.20 | |||||||||||||||||||||||
Second-Priority Senior Secured Notes (1) | 2015 | 10.00% | 214.8 | 187.7 | 173.7 | |||||||||||||||||||||||
Chester Downs Senior Secured Notes | 2020 | 9.25% | 330 | 330 | 330 | |||||||||||||||||||||||
Bill's Gamblin' Hall & Saloon ("Bill's") Credit Facility (6) | 2019 | 11.00% | 185 | 179.8 | 181.4 | |||||||||||||||||||||||
Capitalized Lease Obligations | to 2017 | various | 16.7 | 16.7 | 27.2 | |||||||||||||||||||||||
Subsidiary-Guaranteed Debt (2) | ||||||||||||||||||||||||||||
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 (1) | ||||||||||||||||||||||||||||
5.38% | 2013 | — | — | — | 116.6 | |||||||||||||||||||||||
7.00% | 2013 | — | — | — | 0.6 | |||||||||||||||||||||||
5.63% | 2015 | 5.63% | 364.4 | 328.3 | 306.7 | |||||||||||||||||||||||
6.50% | 2016 | 6.50% | 248.7 | 212.6 | 200.9 | |||||||||||||||||||||||
5.75% | 2017 | 5.75% | 147.9 | 115 | 108.7 | |||||||||||||||||||||||
Floating Rate Contingent Convertible Senior Notes | 2024 | 0.25% | 0.2 | 0.2 | 0.2 | |||||||||||||||||||||||
Other Unsecured Borrowings | ||||||||||||||||||||||||||||
Special Improvement District Bonds | 2037 | 5.30% | 62.9 | 62.9 | 64.3 | |||||||||||||||||||||||
Other | 2016 | 0.00% - 6.00% | 45.9 | 45.9 | — | |||||||||||||||||||||||
Total CEOC Debt (4) | 18,141.70 | 15,782.90 | 15,810.50 | |||||||||||||||||||||||||
Final | Rate(s) | Face Value | Book Value | Book Value | ||||||||||||||||||||||||
(Dollars in millions) | Maturity | December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||||
CERP Debt | ||||||||||||||||||||||||||||
Secured Debt | ||||||||||||||||||||||||||||
CERP Senior Secured Loan (3) | 2020 | 7.00% | 2,500.00 | 2,449.70 | — | |||||||||||||||||||||||
CERP First Lien Notes (3) | 2020 | 8.00% | 1,000.00 | 993.7 | — | |||||||||||||||||||||||
CERP Second Lien Notes (3) | 2021 | 11.00% | 1,150.00 | 1,140.80 | — | |||||||||||||||||||||||
CMBS Financing | — | — | — | 4,660.50 | ||||||||||||||||||||||||
LINQ/Octavius Senior Secured Loan | — | — | — | 446.5 | ||||||||||||||||||||||||
Capitalized Lease Obligations | to 2017 | various | 5.4 | 5.4 | 8.6 | |||||||||||||||||||||||
Other Unsecured Borrowings | ||||||||||||||||||||||||||||
Other | 2016 | 0.00% - 6.00% | 21.3 | 21.3 | — | |||||||||||||||||||||||
Total CERP Debt | 4,676.70 | 4,610.90 | 5,115.60 | |||||||||||||||||||||||||
CGP LLC Debt (7) | ||||||||||||||||||||||||||||
Secured Debt | ||||||||||||||||||||||||||||
PHW Las Vegas Senior Secured Loan | 2015 | 3.03% | 494.8 | 456.1 | 438.2 | |||||||||||||||||||||||
Baltimore Credit Facility | 2020 | 8.25% | 225 | 214.5 | — | |||||||||||||||||||||||
Capitalized Lease Obligations | to 2017 | various | 0.1 | 0.1 | 0.1 | |||||||||||||||||||||||
Other Unsecured Borrowings | ||||||||||||||||||||||||||||
Other | 2014 - 2018 | various | 51 | 51 | 47.7 | |||||||||||||||||||||||
Total CGP LLC Debt | 770.9 | 721.7 | 486 | |||||||||||||||||||||||||
Total Debt | 23,589.30 | 21,115.50 | 21,412.10 | |||||||||||||||||||||||||
Current Portion of Long-Term Debt | (197.1 | ) | (197.1 | ) | (879.9 | ) | ||||||||||||||||||||||
Long-Term Debt | $ | 23,392.20 | $ | 20,918.40 | $ | 20,532.20 | ||||||||||||||||||||||
____________________ | ||||||||||||||||||||||||||||
(1) | Guaranteed by Caesars Entertainment. | |||||||||||||||||||||||||||
(2) | Guaranteed by Caesars Entertainment and certain wholly owned subsidiaries of CEOC. | |||||||||||||||||||||||||||
(3) | Guaranteed by Caesars Entertainment Resort Properties and its subsidiaries. | |||||||||||||||||||||||||||
(4) | $1,146.6 million of debt issued by CEOC is held by other consolidated entities, substantially all of which is held by CGP LLC. Accordingly, such debt is not considered outstanding in the above presentation. | |||||||||||||||||||||||||||
(5) | The Term B-6 Loans have a springing maturity to April 14, 2017 if more than $250.0 million of CEOC's 11.25% senior secured notes due 2017 remain outstanding on April 14, 2017. | |||||||||||||||||||||||||||
(6) | Subsequent to year end, the Company announced the agreement to sell the property to CGP LLC, as part of this transaction, CGP LLC will assume this debt. See Note 24. | |||||||||||||||||||||||||||
(7) | As of December 31, 2013, under the CGP LLC structure, CIE has $39.8 million drawn under a revolver arrangement with Caesars Entertainment. Accordingly, such debt is not considered outstanding in the above presentation. | |||||||||||||||||||||||||||
Annual Maturities of Long-Term Debt | ||||||||||||||||||||||||||||
(In millions) | 2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | |||||||||||||||||||||
CEOC | $ | 113.4 | $ | 1,108.50 | $ | 2,084.00 | $ | 2,715.50 | $ | 8,447.10 | $ | 4,819.80 | $ | 19,288.30 | ||||||||||||||
Less: CEOC to affiliate (1) | — | (427.3 | ) | (324.5 | ) | (390.9 | ) | (3.9 | ) | — | (1,146.6 | ) | ||||||||||||||||
CERP | 35.9 | 33.9 | 31.8 | 25 | 25.1 | 4,525.00 | 4,676.70 | |||||||||||||||||||||
CGP LLC | 47.8 | 497.1 | 2.2 | 2.2 | 5.4 | 216.2 | 770.9 | |||||||||||||||||||||
Total | $ | 197.1 | $ | 1,212.20 | $ | 1,793.50 | $ | 2,351.80 | $ | 8,473.70 | $ | 9,561.00 | $ | 23,589.30 | ||||||||||||||
____________________ | ||||||||||||||||||||||||||||
(1) | Substantially all of these amounts are held by CGP LLC. | |||||||||||||||||||||||||||
As of December 31, 2013 and 2012, book values of debt are presented net of unamortized discounts of $2,473.8 million and $2,691.0 million, respectively. | ||||||||||||||||||||||||||||
As of December 31, 2013 and 2012, the Company’s outstanding debt had a fair value of $20,544.1 million and $20,652.8 million, respectively. The fair value of debt has been calculated based on the borrowing rates available as of December 31, 2013, for debt with similar terms and maturities, and based on market quotes of our publicly traded debt. The fair value of our debt is classified within level 1 and level 2 in the fair value hierarchy. | ||||||||||||||||||||||||||||
As a result of the restrictions related to CEOC's borrowings, CERP Financing, and on the assets of CGP LLC debt and other arrangements, the amount of restricted net assets of our consolidated subsidiaries and variable interest entities was $3.0 billion and $1.2 billion, as of December 31, 2013 and 2012, respectively. | ||||||||||||||||||||||||||||
Current Portion of Long-Term Debt | ||||||||||||||||||||||||||||
Current maturities of long-term debt include required interim principal payments on certain term loans under the CEOC 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 required principal payments of $43.5 million of CEOC 10.0% second-priority senior secured notes due 2018, $31.6 million of CEOC 10.0% second-priority senior secured notes due 2015, $25.0 million of CERP senior secured Loan, and CIE non-interest bearing convertible promissory notes totaling $47.7 million, under the CGP LLC structure. | ||||||||||||||||||||||||||||
The current portion of long-term debt as of December 31, 2012 included $750.0 million of CEOC 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 Debt | ||||||||||||||||||||||||||||
CEOC Credit Facilities Activity | ||||||||||||||||||||||||||||
In connection with the Acquisition, CEOC entered into the senior secured credit facilities (the "CEOC Credit Facilities"). This financing is neither secured nor guaranteed by Caesars Entertainment’s other direct subsidiaries, including the subsidiaries that own properties that are security for the CERP Financing, as defined below. | ||||||||||||||||||||||||||||
During 2012, we (i) extended the maturity of $3,812.3 million B-1, B-2 and B-3 term loans held by consenting lenders from January 28, 2015 to January 28, 2018 and increased the interest rate with respect to such extended term loans (the "Term B-6 Loans"), (ii) converted $457.8 million original maturity revolver commitments held by consenting lenders to Term B-6 Loans and promptly following such conversion, repaid $1,574.3 million of term loans held by any consenting lender, (iii) extended the maturity of $37.2 million original maturity revolver commitments held by consenting lenders who elected not to convert their commitments to term loans from January 28, 2014 to January 28, 2017 and increased the interest rate and the undrawn commitment fee with respect to such extended revolver commitments, and upon the effectiveness of such extension, terminated $798.5 million of revolver commitments and increased the amount of outstanding Term B-6 Loans by $2,853.8 million, and (iv) modified certain other provisions of the CEOC Credit Facilities. | ||||||||||||||||||||||||||||
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 the CEOC Credit Facilities to, among other things: | ||||||||||||||||||||||||||||
(i) | use the net cash proceeds of the February 2013 notes offering to repay $1,433.3 million 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; | |||||||||||||||||||||||||||
(iii) | increase the accordion capacity under the CEOC Credit Facilities by an additional $650.0 million (which may be used to, among other things, establish extended revolving facility commitments under the CEOC Credit Facilities); | |||||||||||||||||||||||||||
(iv) | modify the calculation of the senior secured leverage ratio for purposes of the maintenance test under the CEOC Credit Facilities to exclude the notes issued in February 2013; and | |||||||||||||||||||||||||||
(v) | modify certain other provisions of the CEOC Credit Facilities. | |||||||||||||||||||||||||||
In addition to the foregoing, CEOC may elect to extend and/or convert additional term loans and/or revolver commitments from time to time. | ||||||||||||||||||||||||||||
As of December 31, 2013, the CEOC Credit Facilities provide for senior secured financing of up to $4,628.1 million, consisting of (i) senior secured term loan facilities in an aggregate principal amount of $4,412.6 million with $29.0 million maturing on January 28, 2015, $959.8 million maturing on October 31, 2016 (the "Incremental Loans"), and $3,423.8 million maturing on January 28, 2018, (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 January 28, 2017, including both a letter of credit sub-facility and a swingline loan sub-facility. There were no amounts outstanding under the revolving credit facility at December 31, 2013 and 2012 or during the year ended December 31, 2013. The term loans under the CEOC Credit Facilities require scheduled quarterly payments of $2.5 million, with the balance due at maturity. As of December 31, 2013, $100.5 million of the revolving credit facility was committed to outstanding letters of credit. After consideration of the letter of credit commitments, $115.0 million of additional borrowing capacity was available to the Company under its revolving credit facility as of December 31, 2013. As of March 1, 2014, the facility provided for $106.1 million of borrowing capacity, of which $9.6 million remained as available. | ||||||||||||||||||||||||||||
Borrowings under the Credit Facilities, other than borrowings under the Incremental Loans, the Term B-5 Loans and the Term B-6 Loans, bear interest at a rate equal to the then-current LIBOR rate, or at a rate equal to the alternate base rate, in each case plus an applicable margin. As of December 31, 2013, the Credit Facilities, other than borrowings under the Incremental Loans, the Term B-5 Loans and the Term B-6 Loans, bore interest at LIBOR plus 300 basis points for the term loans. The revolver loan bore interest at LIBOR plus 300 basis points or the alternate base rate plus 200 basis points. The swingline loan bore interest at the alternate base rate plus 150 basis points. The extended revolver loan bore interest at LIBOR plus 525 basis points or the alternate base rate plus 425 basis points. | ||||||||||||||||||||||||||||
Borrowings under the Incremental Loans bear interest at a rate equal to either the alternate base rate or the greater of (i) the then-current LIBOR rate or (ii) 2.0%; in each case plus an applicable margin. As of December 31, 2013, borrowings under the Incremental Loans bore interest at the minimum base rate of 2.0%, plus 750 basis points. | ||||||||||||||||||||||||||||
Borrowings under the Term B-5 Loans bear interest at a rate equal to either the alternate base rate or the then-current LIBOR rate, plus an applicable margin. As of December 31, 2013, borrowings under the Term B-5 Loans bore interest at LIBOR plus 425 basis points. | ||||||||||||||||||||||||||||
Borrowings under the Term B-6 Loans bear interest at a rate equal to either the alternate base rate or the then-current LIBOR rate, plus an applicable margin. As of December 31, 2013, borrowings under the Term B-6 Loans bore interest at LIBOR plus 525 basis points. | ||||||||||||||||||||||||||||
On a quarterly basis, we are required to pay each lender (i) a commitment fee in respect of any unborrowed amounts under the revolving credit facility and (ii) a letter of credit fee in respect of the aggregate face amount of outstanding letters of credit under the revolving credit facility. As of December 31, 2013, the CEOC Credit Facilities bore a commitment fee for unborrowed amounts of 50 basis points under the revolving credit facility maturing January 28, 2014, and 100 basis points under the revolving credit facility maturing January 28, 2017. | ||||||||||||||||||||||||||||
CEOC’s Credit Facilities are guaranteed by Caesars Entertainment and are secured by a pledge of CEOC’s capital stock and by substantially all of the existing and future property and assets of CEOC and its material, wholly owned domestic subsidiaries, including a pledge of the capital stock of CEOC’s material, wholly owned domestic subsidiaries and 65.0% of the capital stock of the first-tier foreign subsidiaries, in each case subject to exceptions. As of December 31, 2013, certain undeveloped land in Las Vegas and the following casino properties have mortgages under the Credit Facilities: | ||||||||||||||||||||||||||||
Las Vegas | Atlantic Coast | Other U.S. | ||||||||||||||||||||||||||
Caesars Palace | Bally’s Atlantic City | Harrah’s New Orleans (Hotel Only) (1) | ||||||||||||||||||||||||||
Bally’s Las Vegas (1) | Caesars Atlantic City | Harrah’s Louisiana Downs | ||||||||||||||||||||||||||
The Quad Resort & Casino (1) | Showboat Atlantic City | Horseshoe Bossier City | ||||||||||||||||||||||||||
Harrah’s Tunica | ||||||||||||||||||||||||||||
Horseshoe Tunica | ||||||||||||||||||||||||||||
Tunica Roadhouse Hotel & Casino | ||||||||||||||||||||||||||||
Harrah’s Council Bluffs | ||||||||||||||||||||||||||||
Horseshoe Council Bluffs/Bluffs Run | ||||||||||||||||||||||||||||
Horseshoe Southern Indiana | ||||||||||||||||||||||||||||
Harrah’s Metropolis | ||||||||||||||||||||||||||||
Horseshoe Hammond | ||||||||||||||||||||||||||||
Harrah’s Reno | ||||||||||||||||||||||||||||
Harrah’s Lake Tahoe | ||||||||||||||||||||||||||||
Harveys Lake Tahoe | ||||||||||||||||||||||||||||
(1) Subsequent to year end, the Company announced the agreement to sell this property to CGP LLC. See Note 24. | ||||||||||||||||||||||||||||
CEOC Notes Activity | ||||||||||||||||||||||||||||
In February 2012, CEOC completed the offering of $1,250.0 million aggregate principal amount of 8.5% senior secured notes due 2020. CEOC used $1,095.6 million of the net proceeds from this transaction to repay a portion of the CEOC Credit Facilities in connection with the consummation of the transactions as further discussed in the CEOC Credit Facilities section above. | ||||||||||||||||||||||||||||
During the second quarter of 2012, we purchased $5.9 million face value of CEOC 5.75% unsecured senior notes for $3.2 million recognizing a pre-tax gain of $1.0 million, net of deferred finance charges. | ||||||||||||||||||||||||||||
In August 2012, CEOC completed the offering of $750.0 million aggregate principal amount of 9% senior secured notes due 2020. CEOC used $478.8 million of the net proceeds from this transaction to repay a portion of the CEOC Credit Facilities in connection with the consummation of the transactions as further discussed in the CEOC Credit Facilities section above. | ||||||||||||||||||||||||||||
In December 2012, CEOC completed the offering of $750.0 million aggregate principal amount of 9% senior secured notes due 2020, the proceeds of which were placed into escrow and were recorded as short-term restricted cash in our Consolidated Balance Sheet as of December 31, 2012. 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 loans under the CEOC Credit Facilities at par. | ||||||||||||||||||||||||||||
In February 2013, CEOC completed the offering of $1,500.0 million aggregate principal amount of 9% senior secured notes due 2020. CEOC used $1,433.3 million of the proceeds to repay a portion of the existing term loans under the CEOC 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. | ||||||||||||||||||||||||||||
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 repaid in December 2013 upon maturity. | ||||||||||||||||||||||||||||
Our Senior Secured Notes, including the Second-Priority Senior Secured Notes, and our unsecured debt, which is fixed-rate debt, have semi-annual interest payments. | ||||||||||||||||||||||||||||
Bill's Credit Facility | ||||||||||||||||||||||||||||
In November 2012, a CEOC subsidiary entered into a $185.0 million, seven-year senior secured credit facility bearing interest at LIBOR plus 9.75% with a LIBOR floor of 1.25% (the "Bill's Credit Facility") to fund the renovation of The Cromwell (formerly Bill's Gamblin' Hall & Saloon) into a boutique lifestyle hotel that includes a dayclub/nightclub. The renovated facility is expected to open in the second quarter 2014 and will include a complete remodeling of the guest rooms, casino floor, and common areas, the addition of a second floor restaurant, and the construction of an approximately 65,000 square foot rooftop pool and dayclub/nightclub. The CEOC subsidiary will own the property and manage the casino, hotel, and food and beverage operations, and the dayclub/nightclub will be leased to a third party. The proceeds of the Bill's Credit Facility were funded during the fourth quarter of 2012 and were included as restricted cash as of December 31, 2012. The proceeds are being used to fund renovation activity through completion in 2014 and the unused portion remained restricted as of December 31, 2013. | ||||||||||||||||||||||||||||
As part of the credit facility, Caesars Entertainment provided a completion guarantee to ensure prompt and complete performance to (i) complete construction and pay all project costs in accordance with the loan documents, (ii) provide the initial working capital specified in the project budget, and (iii) obtain all material permits and licenses necessary for the commencement of operations. The maximum liability under the completion guarantee is $20.0 million. For events occurring subsequent to December 31, 2013, see Note 24, "Subsequent Events." | ||||||||||||||||||||||||||||
Other Financing Transactions | ||||||||||||||||||||||||||||
In February 2012, Chester Downs issued $330.0 million aggregate principal amount of 9.25% senior secured notes due 2020 through a private placement. Chester Downs used $232.4 million of the proceeds of the notes to repay the term loan due 2016 plus accrued interest and a prepayment penalty. The remaining proceeds were used to make a distribution to Chester Downs' managing member, Harrah's Chester Downs Investment Company, LLC, a wholly owned subsidiary of CEOC, and for other general corporate purposes. | ||||||||||||||||||||||||||||
Restrictive Covenants and Other Matters | ||||||||||||||||||||||||||||
Under CEOC's Credit Facilities, we are required to satisfy and maintain specified financial ratios. Specifically, the CEOC Credit Facilities requires CEOC to maintain an SSLR of no more than 4.75 to 1.0, which is the ratio of its senior first priority secured debt to LTM Adjusted EBITDA - Pro Forma - CEOC Restricted. This ratio excludes up to $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. This ratio also reduces the amount of senior first priority secured debt by the amount of unrestricted CEOC cash on hand which was $1,450.2 million as of December 31, 2013. As of December 31, 2013, the CEOC SSLR was 4.52 to 1.0. | ||||||||||||||||||||||||||||
The CEOC Credit Facilities require compliance on a quarterly basis with a maximum net senior secured first lien debt leverage test. In addition, the CEOC Credit Facilities include negative covenants, subject to certain exceptions, restricting or limiting CEOC’s ability and the ability of its restricted subsidiaries to, among other things: (i) incur additional debt; (ii) create liens on certain assets; (iii) enter into sale and lease-back transactions; (iv) make certain investments, loans, and advances; (v) consolidate, merge, sell, or otherwise dispose of all or any part of its assets or to purchase, lease, or otherwise acquire all or any substantial part of assets of any other person; (vi) pay dividends or make distributions or make other restricted payments; (vii) enter into certain transactions with its affiliates; (viii) engage in any business other than the business activity conducted at the closing date of the loan or business activities incidental or related thereto; (ix) amend or modify the articles or certificate of incorporation, by-laws, and certain agreements or make certain payments or modifications of indebtedness; and (x) designate or permit the designation of any indebtedness as "Designated Senior Debt." | ||||||||||||||||||||||||||||
While we were in compliance with the terms and conditions of all of our loan agreements, including CEOC’s Credit Facilities and indentures, as of December 31, 2013, in order to comply with the quarterly SSLR covenant under the CEOC Credit Facility in the future, we will need to achieve a certain amount of LTM Adjusted EBITDA - Pro-Forma - CEOC Restricted and/or reduced levels of total senior secured net debt (total senior secured debt less unrestricted cash). The factors that could impact the foregoing include (a) changes in gaming trips, spend per trip and hotel metrics, which we believe are correlated to consumer spending and confidence generally and spending by consumers for gaming and other entertainment activities, (b) our ability to effect cost savings initiatives, (c) asset sales,, (d) issuing additional second lien or unsecured debt, or project financing, (e) reducing net debt through open market purchases, privately negotiated transactions, redemptions, tender offers or exchanges, (f) equity issuances, (g) reductions in capital expenditures spending, or (h) a combination thereof. | ||||||||||||||||||||||||||||
Caesars Entertainment is not bound by any financial or negative covenants contained in CEOC’s credit agreement, other than with respect to the incurrence of liens on and the pledge of its stock of CEOC. | ||||||||||||||||||||||||||||
All borrowings under the CEOC senior secured revolving credit facility are subject to the satisfaction of customary conditions, including the absence of a default, the accuracy of representations and warranties, and the requirement that such borrowing does not reduce the amount of obligations otherwise permitted to be secured under the CEOC Credit Facilities without ratably securing the retained notes. | ||||||||||||||||||||||||||||
The indenture and other agreements governing our cash pay debt and PIK toggle debt limit CEOC’s (and most of its subsidiaries’) ability to among other things: (i) incur additional debt or issue certain preferred shares; (ii) pay dividends or make distributions in respect of our capital stock or make other restricted payments; (iii) make certain investments; (iv) sell certain assets; (v) engage in any business or own any material asset other than all of the equity interest of CEOC so long as certain investors hold a majority of the notes; (vi) create or permit to exist dividend and/or payment restrictions affecting its restricted subsidiaries; (vii) create liens on certain assets to secure debt; (viii) consolidate, merge, sell or otherwise dispose of all or substantially all of its assets; (ix) enter into certain transactions with its affiliates; and (x) designate its subsidiaries as unrestricted subsidiaries. Subject to certain exceptions, the indenture governing the notes and the agreements governing the other cash pay debt and PIK toggle debt will permit us and our restricted subsidiaries to incur additional indebtedness, including secured indebtedness. | ||||||||||||||||||||||||||||
CERP Debt | ||||||||||||||||||||||||||||
CMBS Financing | ||||||||||||||||||||||||||||
In connection with the Acquisition in 2008, eight of our properties (the “CMBS properties”) and their related assets were spun out of CEOC to Caesars Entertainment. As of the Acquisition date, the CMBS properties were Harrah's Las Vegas, Rio, Flamingo Las Vegas, Harrah's Atlantic City, Showboat Atlantic City, Harrah's Lake Tahoe, Harveys Lake Tahoe and Bill's Lake Tahoe. The CMBS properties borrowed $6,500.0 million of CMBS financing (the “CMBS Financing”). The CMBS Financing was secured by the assets of the CMBS properties and certain aspects of the financing were guaranteed by Caesars Entertainment. On May 22, 2008, Paris Las Vegas and Harrah's Laughlin and their related operating assets were spun out of CEOC to Caesars Entertainment and became property secured under the CMBS mortgage loan and/or related mezzanine loans (“CMBS Loans”), and Harrah's Lake Tahoe, Harveys Lake Tahoe, Bill's Lake Tahoe and Showboat Atlantic City were transferred to CEOC from Caesars Entertainment as contemplated under the debt agreements effective pursuant to the Acquisition. The CMBS Financing was refinanced in October 2013 as described below. | ||||||||||||||||||||||||||||
During 2013, we purchased$274.8 million of aggregate face value of CMBS Financing for $219.7 million, recognizing total pre-tax gains on early extinguishment of debt of $52.4 million, net of deferred finance charges. During 2012, we purchased $367.3 million of aggregate face value of CMBS Financing for $229.3 million, recognizing total pre-tax gains on early extinguishment of debt of $135.0 million, net of deferred finance charges. | ||||||||||||||||||||||||||||
Octavius/Linq Financing | ||||||||||||||||||||||||||||
On April 25, 2011, the Company, together with certain subsidiaries of CEOC comprised of Caesars Octavius, LLC; Caesars Linq, LLC; and Octavius Linq Holding Company, LLC (collectively the “Borrowers”) entered into a credit agreement (the “Octavius/Linq Credit Agreement”) pursuant to which the Borrowers incurred financing to complete the development of the Octavius Tower at Caesars Palace Las Vegas and the Linq project (the "Development"). The Octavius/Linq Credit Agreement provided for a $450.0 million senior secured term facility (the “Term Facility”) with a six-year maturity, secured by all material assets of the Borrowers. The proceeds of the Term Facility were funded during the second quarter of 2011 and were classified as restricted cash until drawn to pay for costs incurred in the Development. | ||||||||||||||||||||||||||||
In October 2013, the Linq and Octavius Tower were transferred from CEOC to a CERP entity, and amounts outstanding under the Octavius/Linq Credit Agreement were refinanced as part of the CERP Financing as described below. | ||||||||||||||||||||||||||||
CERP Financing | ||||||||||||||||||||||||||||
On October 11, 2013, we formed CERP from the prior CMBS Financing structure assets plus the addition of Linq and Octavius acquired from CEOC, and (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 "CERP 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 "CERP 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 CERP and the refinancing transaction as "CERP Financing". | ||||||||||||||||||||||||||||
Borrowings under the CERP Term Loans bear interest at a rate equal to either the alternate base rate or the greater of (i) the then-current LIBOR rate or (ii) 1.0%; in each case plus an applicable margin. As of December 31, 2013, borrowings under the CERP Term Loans bore interest at the minimum base rate of 1.0%, plus 600 basis points. The CERP Term Loans require scheduled quarterly payments of $6.3 million, with the balance due at maturity. Borrowings under the senior secured revolving credit facility would bear interest at a rate equal to either the alternate base rate or the greater of (i) the then-current LIBOR rate or (ii) 1.0%; in each case plus an applicable margin. | ||||||||||||||||||||||||||||
On a quarterly basis, we are required to pay each lender (i) a commitment fee in respect of any unborrowed amounts under the senior secured revolving credit facility and (ii) a letter of credit fee in respect of the aggregate face amount of outstanding letters of credit under the senior secured revolving credit facility. As of December 31, 2013, the senior secured revolving credit facility bore a commitment fee for unborrowed amounts of 50 basis points. There were no amounts outstanding under the revolving credit facility at December 31, 2013. | ||||||||||||||||||||||||||||
The net proceeds from the offering of CERP Notes and the borrowings under the CERP Term Loans, together with cash, 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. This resulted in a loss on extinguishment of debt of $37.1 million. | ||||||||||||||||||||||||||||
CERP Restrictive Covenants | ||||||||||||||||||||||||||||
The CERP Notes includes negative covenants, subject to certain exceptions, restricting or limiting the ability of CERP and operating companies under the CERP Financing to, among other things: (i) incur additional debt or issue certain preferred shares; (ii) pay dividends on or make distributions in respect of their capital stock or make other restricted payments; (iii) make certain investments; (iv) sell certain assets; (v) create liens on certain assets to secure debt; (vi) consolidate, merge, sell, or otherwise dispose of all or substantially all of their assets; (vii) enter into certain transactions with their affiliates; and (viii) designate their subsidiaries as unrestricted subsidiaries. | ||||||||||||||||||||||||||||
The CERP Term Loans contain certain customary affirmative covenants. In addition to such affirmative covenants, the agreement also contains negative covenants, subject to certain exceptions, that restrict or limit the ability of CERP to, among other things: (i) incur additional debt; (ii) create liens on certain assets; (iii) enter into certain sale and leaseback transactions; (iv) make certain investments; (v) consolidate, merge, sell, or otherwise dispose of all or substantially all of their assets; (vi) pay dividends on or make distributions in respect of their capital stock or make other restricted payments; and (vii) enter into certain transactions with affiliates. This agreement requires CERP to maintain a senior secured leverage ratio of no more than 8.00 to 1.00, which is the ratio of first lien senior secured net debt to earnings before interest, taxes, depreciation and amortization, adjusted as defined ("CERP Adjusted EBITDA"), for a test period. CERP is not required to calculate its senior secured leverage ratio until the first quarter of 2014. | ||||||||||||||||||||||||||||
CGP LLC Debt | ||||||||||||||||||||||||||||
PHW Las Vegas, LLC Senior Secured Loan | ||||||||||||||||||||||||||||
In February 2010, CEOC acquired 100% of the equity interests of a subsidiary of PHW Las Vegas, LLC, which owns the Planet Hollywood Resort and Casino located in Las Vegas, Nevada. In connection with this transaction, PHW Las Vegas, LLC assumed a $554.3 million face value senior secured loan, and a subsidiary of CEOC canceled certain debt issued by PHW Las Vegas, LLC's predecessor entities. The outstanding amount is secured by the assets of PHW Las Vegas, LLC and is non-recourse to other subsidiaries of the Company. On December 5, 2013, the loan maturity of this debt was again extended to April 2015. No additional options exist to extend the maturity of the loan. The loan is secured by the assets of PHW Las Vegas, LLC. | ||||||||||||||||||||||||||||
In October 2013, CEOC sold 100% of its equity interest in PHW Las Vegas, LLC to CGP LLC. Prior to its sale, PHW Las Vegas, LLC was an unrestricted subsidiary of CEOC and therefore, not a borrower under CEOC’s Credit Facilities. See Note 5 - Caesars Growth Partners, LLC Transactions. | ||||||||||||||||||||||||||||
PHW Las Vegas, LLC may, at its option, voluntarily prepay the loan in whole or in part upon twenty (20) days prior written notice to Lender. PHW Las Vegas, LLC is required to prepay the loan in (i) the amount of any insurance proceeds received by Lender for which Lender is not obligated to make available to PHW Las Vegas, LLC for restoration in accordance with the terms of the loan agreement, (ii) the amount of any proceeds received from the operator of the timeshare property adjacent to the Planet Hollywood Resort and Casino, subject to certain limitations, and (iii) the amount of any excess cash remaining after application of the cash management provisions as outlined in the loan agreement, as amended. | ||||||||||||||||||||||||||||
The PHW Las Vegas, LLC senior secured loan requires that PHW Las Vegas, LLC maintain certain reserve funds in respect of furniture, fixtures, and equipment, capital improvements, interest service, taxes and insurance. Certain amounts deposited into the specified reserve funds represent restricted cash. | ||||||||||||||||||||||||||||
The amount outstanding under the PHW Las Vegas, LLC senior secured loan bears interest at a rate per annum equal to LIBOR plus 2.859%. A subsidiary of CEOC owns interest-only participations in a portion of the PHW Las Vegas, LLC senior secured loan that bear interest at a fixed rate equal to 1.59% per year. | ||||||||||||||||||||||||||||
In connection with PHW Las Vegas, LLC’s Amended and Restated Loan Agreement, Caesars Entertainment entered into a Guaranty Agreement (the "Guaranty") for the benefit of the Lender, pursuant to which Caesars Entertainment guaranteed to the Lender certain recourse liabilities of PHW Las Vegas, LLC. Caesars Entertainment’s maximum aggregate liability for such recourse liabilities is limited to $30.0 million, provided that such recourse liabilities of PHW Las Vegas, LLC do not arise from (i) events, acts, or circumstances that are actually committed by, or voluntarily or willfully brought about by, Caesars Entertainment or (ii) event, acts, or circumstances (regardless of the cause of the same) that provide actual benefit (in cash, cash equivalent, or other quantifiable amount) to the Company, to the full extent of the actual benefit received by the Company. Pursuant to the Guaranty, Caesars Entertainment is required to maintain a net worth or liquid assets of at least $100.0 million. | ||||||||||||||||||||||||||||
The loan contains customary affirmative covenants, subject to certain exceptions, requiring PHW Las Vegas, LLC to, among other things, deliver annual financial statements, annual budgets, maintain its properties, maintain its books and records, maintain insurance, and comply with laws and material contracts. It also contains customary negative covenants, subject to certain exceptions, restricting or limiting the ability of PHW Las Vegas, LLC to, among other things, dispose of its assets and change its business or ownership, consummate mergers or acquisitions and create liens on its assets. Management believes that PHW Las Vegas, LLC was in compliance with the above covenants as of December 31, 2013. | ||||||||||||||||||||||||||||
Horseshoe Baltimore Financing | ||||||||||||||||||||||||||||
On July 2, 2013, CBAC Borrower, LLC (“CBAC”), a joint venture among Caesars Baltimore Investment Company, LLC (then 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”). In October 2013, CEOC sold 100% of its equity interests in Caesars Baltimore Investment Company, LLC to CGP LLC. | ||||||||||||||||||||||||||||
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 on July 2, 2013 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 July 2014 and a $37.5 million delayed draw facility available until January 2015 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. There were no amounts outstanding under the revolving facility as of December 31, 2013. | ||||||||||||||||||||||||||||
Concurrent with the closing of the Baltimore Credit Facility, CBAC also entered into an equipment financing term loan facility for up to $30.0 million (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. There were no amounts outstanding under the Baltimore FF&E Facility as of December 31, 2013. | ||||||||||||||||||||||||||||
The Baltimore Credit Facility contains customary affirmative covenants, subject to certain exceptions, requiring CBAC to, among other things, deliver annual and quarterly financial statements (following the commencement of operations of the Baltimore Development), annual budgets, construction progress reports and other notices, maintain its properties, maintain its books and records, maintain insurance, use commercially reasonable efforts to maintain a public rating for the term loans and comply with laws and material contracts. It also contains customary negative covenants, subject to certain exceptions, restricting or limiting the ability of CBAC to, among other things, dispose of its assets and change its business or ownership, consummate mergers or acquisitions, make dividends, stock repurchases and optional redemptions of subordinated debt, incur debt and issue preferred stock, make loans and investments, create liens on its assets and enter into transactions with affiliates. In addition, the Baltimore Credit Facility includes a covenant prohibiting the senior secured leverage ratio from exceeding a specified ratio at any time after the second full fiscal quarter ending after the commencement of operations of the Baltimore Development. The Baltimore FF&E Facility has covenants and events of default substantially consistent with the Baltimore Credit Facility, and other restrictive covenants customary for FF&E facilities of this type. Management believes that CBAC was in compliance with the Baltimore Credit Facility and Baltimore FF&E Facility covenants as of December 31, 2013. | ||||||||||||||||||||||||||||
CIE Convertible Notes | ||||||||||||||||||||||||||||
During 2012, CIE issued to Rock Gaming two non-interest bearing convertible promissory notes totaling $47.7 million. The promissory notes are convertible into approximately 8,913 shares of CIE common stock. The notes are due June 2014 and are classified as current portion of long-term debt. |
Derivative_Instruments
Derivative Instruments | 12 Months Ended | |||||||||||||||||
Dec. 31, 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 December 31, 2013, we had eight interest rate swap agreements outstanding with notional amounts totaling $5,750.0 million that were not designated as accounting hedges. These interest rate swaps reset monthly or quarterly and expire on January 25, 2015. 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. Changes in the fair value of the swap agreements are recognized in interest expense. | ||||||||||||||||||
Derivative Instruments – Interest Rate Cap Agreements | ||||||||||||||||||
We have an interest rate cap agreement to partially hedge the risk of future increases in the variable rate of the CERP Financing. In February 2013, in conjunction with exercising the option to extend the maturity of the former CMBS Financing to 2014, we entered into a new agreement, which is effective from February 13, 2013 and terminates February 13, 2015, and is for a notional amount of $4,664.1 million at a LIBOR cap rate of 4.5%. This is not designated as a hedge for accounting purposes as a result, changes in fair value of the interest rate cap are recognized in interest expense. | ||||||||||||||||||
We have an interest rate cap agreement to partially hedge the risk of future increases in the variable rate of the PHW Las Vegas senior secured loan. The interest rate cap agreement is for a notional amount of $501.4 million at a LIBOR cap rate of 7.0%. Changes in fair value of the interest rate cap are recognized in interest expense. | ||||||||||||||||||
Derivative Instruments – Impact on 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. As of December 31, 2013, none of our derivative instruments were designated as accounting hedges. | ||||||||||||||||||
Fair Values of Derivative Instruments | ||||||||||||||||||
Asset Derivatives | Liability Derivatives | |||||||||||||||||
Fair Value | Fair Value | |||||||||||||||||
(In millions) | Balance Sheet Location | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Interest rate swaps | Deferred credits and other | $ | — | $ | — | $ | (165.9 | ) | $ | (306.4 | ) | |||||||
Interest rate cap | Deferred credits and other | * | * | — | — | |||||||||||||
Total | $ | — | $ | — | $ | (165.9 | ) | $ | (306.4 | ) | ||||||||
___________________ | ||||||||||||||||||
* Amount rounds to zero. | ||||||||||||||||||
Effect of Derivative Instruments on Net Loss and Comprehensive Loss | ||||||||||||||||||
(In millions) | Years Ended December 31, | |||||||||||||||||
Derivatives designated as accounting hedges | Location of (Gain) or Loss Recognized in Net Loss | 2013 | 2012 | 2011 | ||||||||||||||
Loss recognized in AOCL (effective portion) | Other Comprehensive Loss | $ | — | $ | — | $ | 64.3 | |||||||||||
Loss reclassified from AOCL into net loss | Interest Expense | 4 | 28.4 | 265.7 | ||||||||||||||
(effective portion) | ||||||||||||||||||
Gain recognized in net loss (ineffective portion) | Interest Expense | — | — | (53.4 | ) | |||||||||||||
Effect of Non-designated Derivative Instruments on Net Loss | ||||||||||||||||||
(In millions) | Years Ended December 31, | |||||||||||||||||
Derivatives not designated as accounting hedges | Location of Loss | 2013 | 2012 | 2011 | ||||||||||||||
Net periodic cash settlements and accrued interest (1) | Interest expense | $ | 172 | $ | 169.6 | $ | 201.1 | |||||||||||
Total expense for derivatives | Interest expense | $ | 34.4 | $ | 140 | $ | 184.2 | |||||||||||
___________________ | ||||||||||||||||||
(1) The derivative settlements under the terms of the interest rate swap agreements are recognized as interest expense and are paid monthly. |
Stockholders_Equity_and_Loss_P
Stockholders' Equity and Loss Per Share | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Stockholders Equity Noncontrolling Interests and Income (Loss) Per Share [Abstract] | ' | ||||||||
Stockholders' Equity and Loss Per Share | ' | ||||||||
Stockholders' Equity and Loss Per Share | |||||||||
Stockholders' Equity | |||||||||
The holders of common stock are entitled to one vote per share on all matters to be voted on by the stockholders of the Company. In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company, holders of common stock shall receive a pro rata distribution of any remaining assets after payment of or provision for liabilities and the liquidation preference on preferred stock, if any. | |||||||||
In January 2012, the Company entered into an agreement with certain of its direct and indirect stockholders, pursuant to which the Company, Hamlet Holdings, and entities controlled by the Sponsors released the contractual transfer restrictions on 24.2 million shares of our common stock (the "Released Shares") beneficially owned by certain indirect stockholders (the "Participating Co-Investors"). In consideration for such release, the Participating Co-Investors agreed to contribute 1.8 million shares to the Company (the "Delivered Shares"). The Company agreed to cause the registration for resale (the "Shelf Registration") under the Securities Act of the remaining Released Shares not constituting Delivered Shares (the "Registered Shares") and the listing of the Registered Shares on NASDAQ. | |||||||||
In February 2012, the Company received the Delivered Shares, placed them into its treasury, and offered 1.8 million newly issued shares of its common stock and an underwriters allotment of 271,697 shares, in a public offering, at $9.00 per share. The Company received net proceeds of $15.2 million on February 13, 2012, after taking into account expenses and underwriting commissions and giving effect to the exercise of the underwriters' over-allotment option. As a result of the public offering, the Company's common stock trades on the NASDAQ under the symbol "CZR." In connection with this public offering, the Company effected a 1.742-for-1 split of its common stock and used the net proceeds from its public offering for general corporate purposes. None of the Sponsors or affiliates or employees of the Company participated in the public offering as selling stockholders. | |||||||||
In February 2012, the Shelf Registration was filed, and, upon its effectiveness, 50% of the Registered Shares became eligible for resale under the Shelf Registration. The remaining 50% of the Registered Shares became eligible for resale in August 2012. | |||||||||
In March 2012, the Company filed a prospectus with the SEC, as part of a registration statement, to sell shares of our 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 2013, the Company sold 1,055,493 shares for an aggregate offering price of $15.4 million. During 2012, the Company sold 15,000 shares for an aggregate offering price of $0.2 million. Since inception, the Company has sold 1,070,493 shares for an aggregate offering price of $15.6 million. | |||||||||
In September 2013, Caesars entered into an underwriting agreement for the sale of 10.0 million shares of its common stock. The underwriter agreed to purchase the common stock from Caesars at a price of $19.40 per share and exercised its option to purchase 340,418 additional shares. These transactions closed on October 1, 2013, and resulted in approximately $200.6 million of proceeds to Caesars before expenses. | |||||||||
Noncontrolling Interests | |||||||||
CBAC Gaming, LLC, the Company-led consortium developing Horseshoe Casino Baltimore, received additional capital contributions from minority shareholders of $35.3 million during 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 $8.9 million also allocated to noncontrolling interest equity. | |||||||||
As discussed in Note 5, "Caesars Growth Partners, LLC Transactions," CAC acquired 100% of the voting units of CGP LLC in October 2013 for $1,173.1 million. Due to our consolidation of CGP LLC, the interest acquired by CAC is considered a noncontrolling interest and has been presented separately within our Consolidated Balance Sheets. Because the equity holders in CGP LLC receive returns disproportionate to their voting interests resulting from the distribution mechanism contained in CGP LLC’s controlling documents, we account for the noncontrolling interest in CGP LLC under the HLBV method to attribute the earnings and losses of CGP LLC between controlling and noncontrolling interests, as described in Note 2, "Summary of Significant Accounting Policies." | |||||||||
Earnings/(Loss) Per Share | |||||||||
Basic earnings/(loss) per share from continuing operations and discontinued operations is calculated by dividing loss from continuing operations and income/(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 years ended December 31, 2013, 2012 and 2011, the weighted-average basic shares outstanding was used in calculating diluted loss per share from continuing operations, and diluted earnings/(loss) per share from discontinued operations, as using diluted shares would be anti-dilutive to loss per share. | |||||||||
The following table shows the weighted average number of shares that were excluded from the computation of diluted loss per share, as they were anti-dilutive: | |||||||||
Years Ended December 31, | |||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||
Stock options | 4.3 | 6.1 | 5.9 | ||||||
Restricted stock units | 1.6 | — | — | ||||||
Warrants | 0.3 | 0.4 | 0.1 | ||||||
6.2 | 6.5 | 6 | |||||||
Reclassification_out_of_Accumu
Reclassification out of Accumulated Other Comprehensive Loss | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | |||||||||||||||
Reclassification out of Accumulated Other Comprehensive Loss | ' | |||||||||||||||
Reclassification out of Accumulated Other Comprehensive Loss | ||||||||||||||||
Years Ended December 31, | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
(In millions) | Benefit Plan Adjustments | Losses on Derivative Instruments | Losses on Derivative Instruments | Losses on Derivative Instruments | ||||||||||||
Amount reclassified from AOCL to interest expense | $ | 0.7 | $ | 4 | $ | 28.4 | $ | 265.7 | ||||||||
Related tax impact | — | (1.5 | ) | (10.3 | ) | (117.3 | ) | |||||||||
Reclassification, net of income taxes | $ | 0.7 | $ | 2.5 | $ | 18.1 | $ | 148.4 | ||||||||
Casino_Promotional_Allowances_
Casino Promotional Allowances (Notes) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Promotional Allowances [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 cost of providing such casino promotional allowances is included in casino expenses. | ||||||||||||
Estimated Retail Value of Casino Promotional Allowances | ||||||||||||
Years Ended December 31, | ||||||||||||
(In millions) | 2013 | 2012 | 2011 | |||||||||
Food and Beverage | $ | 628.5 | $ | 651.3 | $ | 636.9 | ||||||
Rooms | 457.6 | 481.1 | 484.3 | |||||||||
Other | 92.5 | 119.7 | 111.1 | |||||||||
$ | 1,178.60 | $ | 1,252.10 | $ | 1,232.30 | |||||||
Estimated Cost of Providing Casino Promotional Allowances | ||||||||||||
Years Ended December 31, | ||||||||||||
(In millions) | 2013 | 2012 | 2011 | |||||||||
Food and Beverage | $ | 459 | $ | 476.7 | $ | 469 | ||||||
Rooms | 178.7 | 186.7 | 188.2 | |||||||||
Other | 47.6 | 49.7 | 58.9 | |||||||||
$ | 685.3 | $ | 713.1 | $ | 716.1 | |||||||
Writedowns_Reserves_and_Projec
Write-downs, Reserves, and Project Opening Costs, net of Recoveries | 12 Months Ended | |||||||||||
Dec. 31, 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 | ||||||||||||
Years Ended December 31, | ||||||||||||
(In millions) | 2013 | 2012 | 2011 | |||||||||
Remediation costs | $ | 28.5 | $ | 21.1 | $ | 11 | ||||||
Divestitures and abandonments | 22.8 | 59.1 | 10.1 | |||||||||
Efficiency projects | — | 17.5 | 46.6 | |||||||||
Gain on ThistleDown transactions (Note 4) | — | (11.0 | ) | — | ||||||||
Suffolk Downs equity investment write-off (Note 4) | 41.9 | — | — | |||||||||
Project opening costs | 15.4 | 12.6 | 4.7 | |||||||||
Other | (4.2 | ) | 0.4 | 1.4 | ||||||||
Total | $ | 104.4 | $ | 99.7 | $ | 73.8 | ||||||
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. | ||||||||||||
Remediation costs primarily includes costs related to projects at certain of our Las Vegas properties. | ||||||||||||
Divestitures and abandonments includes losses on divested or abandoned assets, demolition costs and costs associated with various projects that are determined to no longer be viable. Divestitures and abandonments included charges of $16.5 million in 2013, $28.8 million in 2012, and $8.3 million in 2011, all of which primarily related to a previously halted development project and land lease obligations in Biloxi, Mississippi. Divestitures and abandonments also included a charge of $15.0 million in 2012 related to an investment in a potential venture. | ||||||||||||
Efficiency projects represents costs incurred to identify and implement efficiency programs aimed at streamlining corporate and operating functions to achieve cost savings and efficiencies, primarily related to Project Renewal, an initiative designed to reinvent certain aspects of the Company's functional and operating units to gain significant further cost reductions and streamline its operations. | ||||||||||||
Project opening costs represents costs associated with opening a new property or project. | ||||||||||||
Other includes contingent liability reserves, recoveries, 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 | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Income Taxes | ' | |||||||||||
Income Taxes | ||||||||||||
Components of (Loss)/Income Before Income Taxes | ||||||||||||
Years Ended December 31, | ||||||||||||
(In millions) | 2013 | 2012 | 2011 | |||||||||
United States | $ | (4,652.0 | ) | $ | (2,341.9 | ) | $ | (1,271.5 | ) | |||
Outside of the U.S. | 192.5 | 83.2 | 5.5 | |||||||||
$ | (4,459.5 | ) | $ | (2,258.7 | ) | $ | (1,266.0 | ) | ||||
Income Tax (Benefit)/Provision | ||||||||||||
Years Ended December 31, | ||||||||||||
(In millions) | 2013 | 2012 | 2011 | |||||||||
United States | ||||||||||||
Current | ||||||||||||
Federal | $ | (6.4 | ) | $ | (72.0 | ) | $ | (1.0 | ) | |||
State | (82.6 | ) | 5.6 | (16.4 | ) | |||||||
Deferred | ||||||||||||
Federal | (1,421.4 | ) | (726.7 | ) | (450.6 | ) | ||||||
State | (51.2 | ) | (87.1 | ) | (70.1 | ) | ||||||
Outside of the U.S. | ||||||||||||
Current | 28.5 | 13 | 8.8 | |||||||||
Deferred | (16.6 | ) | (3.3 | ) | (5.3 | ) | ||||||
$ | (1,549.7 | ) | $ | (870.5 | ) | $ | (534.6 | ) | ||||
Allocation of Income Tax (Benefit)/Provision | ||||||||||||
Years Ended December 31, | ||||||||||||
(In millions) | 2013 | 2012 | 2011 | |||||||||
Income tax (benefit)/provision applicable to: | ||||||||||||
Loss from continuing operations, before income taxes | $ | (1,549.7 | ) | $ | (870.5 | ) | $ | (534.6 | ) | |||
Discontinued operations | 0.2 | 50.1 | 27.8 | |||||||||
Accumulated other comprehensive income/(loss) | 15.9 | 10.9 | 70.9 | |||||||||
Retained earnings | — | — | 6 | |||||||||
Additional paid in capital | 14.5 | (2.1 | ) | 11.6 | ||||||||
The tax provision of $70.9 million allocated to accumulated other comprehensive income/(loss) in 2011 was primarily comprised of $117.3 million related to the reclassification of losses on derivative instruments from accumulated other comprehensive loss to interest expense, offset by tax benefits of $28.4 million related to the change in fair market value of derivatives and $19.2 million related to foreign currency translation adjustments. The tax impact for the components of accumulated other comprehensive income/(loss) in 2012 was immaterial both individually and in the aggregate. The tax provision of $15.9 million in 2013 was primarily related to foreign currency translation adjustments. | ||||||||||||
Effective Income Tax Rate Reconciliation | ||||||||||||
Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Statutory tax rate | 35 | % | 35 | % | 35 | % | ||||||
Increases/(decreases) in tax resulting from: | ||||||||||||
State taxes, net of federal tax benefit | 6.4 | 4.4 | 8.7 | |||||||||
Valuation allowance | (9.5 | ) | (2.3 | ) | (6.8 | ) | ||||||
Foreign income taxes | 0.1 | — | 2.4 | |||||||||
Goodwill | (0.4 | ) | (1.4 | ) | 0.1 | |||||||
Stock based compensation | (0.2 | ) | (0.2 | ) | — | |||||||
Officers’ life insurance/insurance proceeds | — | 0.1 | (0.3 | ) | ||||||||
Acquisition and integration costs | 0.1 | (0.2 | ) | — | ||||||||
Reserves for uncertain tax positions | — | 3.1 | (0.2 | ) | ||||||||
Deferred tax liability adjustment | — | — | 3.3 | |||||||||
Capital loss tax benefit | 4 | — | — | |||||||||
CGP LLC transaction deferred tax adjustment | (0.8 | ) | — | — | ||||||||
Other | — | — | — | |||||||||
Effective tax rate | 34.7 | % | 38.5 | % | 42.2 | % | ||||||
Temporary Differences Resulting in Deferred Tax Assets and Liabilities | ||||||||||||
(In millions) | 2013 | 2012 | ||||||||||
Deferred tax assets: | ||||||||||||
State net operating losses | $ | 252.8 | $ | 180.3 | ||||||||
Foreign net operating losses | 24.3 | 37.8 | ||||||||||
Federal net operating loss | 1,280.90 | 850.2 | ||||||||||
Compensation programs | 141.5 | 120.6 | ||||||||||
Allowance for doubtful accounts | 76.4 | 87.6 | ||||||||||
Self-insurance reserves | 16.4 | 15.7 | ||||||||||
Accrued expenses | 44.4 | 44.6 | ||||||||||
Federal tax credits | 34.7 | 33.7 | ||||||||||
Federal indirect tax benefits of uncertain state tax positions | 27.2 | 52.8 | ||||||||||
Outside basis difference in foreign subsidiaries | — | 61.5 | ||||||||||
Investment in CGP LLC | 23.4 | — | ||||||||||
Investments in non-consolidated affiliates | 38.7 | — | ||||||||||
Capital loss carryover | 136.4 | — | ||||||||||
Deferred revenue | 41.2 | 2 | ||||||||||
Other | 10.3 | 18.6 | ||||||||||
Subtotal | 2,148.60 | 1,505.40 | ||||||||||
Less: valuation allowance | 739.5 | 330 | ||||||||||
Total deferred tax assets | 1,409.10 | 1,175.40 | ||||||||||
Deferred tax liabilities: | ||||||||||||
Depreciation and other property-related items | 1,188.90 | 2,241.70 | ||||||||||
Deferred cancellation of debt income and other debt-related items | 1,833.60 | 1,913.40 | ||||||||||
Management and other contracts | — | 3.9 | ||||||||||
Intangibles | 1,118.10 | 1,255.70 | ||||||||||
Prepaid expenses | 25 | 28.3 | ||||||||||
Investments in non-consolidated affiliates | — | 3.5 | ||||||||||
Total deferred tax liabilities | 4,165.60 | 5,446.50 | ||||||||||
Net deferred tax liability | $ | 2,756.50 | $ | 4,271.10 | ||||||||
Deferred Tax Assets and Liabilities Presented in our Consolidated Balance Sheets | ||||||||||||
(In millions) | 2013 | 2012 | ||||||||||
Assets: | ||||||||||||
Deferred income taxes (current) | $ | 8.7 | $ | 114.9 | ||||||||
Liabilities: | ||||||||||||
Deferred income taxes (current) | 289.2 | $ | — | |||||||||
Liabilities held for sale (non-current) | — | 51.9 | ||||||||||
Deferred income taxes (non-current) | 2,476.00 | 4,334.10 | ||||||||||
Net deferred tax liability | $ | 2,756.50 | $ | 4,271.10 | ||||||||
As a result of certain realization requirements of ASC Topic 718, Compensation - Stock Compensation ("ASC Topic 718"), the table of deferred tax assets and liabilities shown above does not include certain deferred tax assets as of December 31, 2013, and December 31, 2012 that arose directly from tax deductions related to equity compensation that are greater than the compensation recognized for financial reporting. Equity will be increased by $2.4 million if and when such deferred tax assets are ultimately realized. The Company uses ASC Topic 740, Income Taxes ("ASC Topic 740"), ordering when determining when excess tax benefits have been realized. | ||||||||||||
As of December 31, 2013 and 2012, the Company had federal net operating loss ("NOL") carryforwards of $3,654.7 million and $2,418.2 million, respectively. These NOLs will begin to expire in 2029. The federal NOL carryforwards per the income tax returns filed included unrecognized tax benefits taken in prior years. Due to application of ASC Topic 740, the federal NOL carryforwards reflected in the income tax returns, as filed, are larger than the NOLs for which a deferred tax asset is recognized for financial statement purposes. In addition, the Company had federal general business tax credits carryforwards of $27.5 million which will begin to expire in 2029. As of December 31, 2013, although no valuation allowance has been established for the Company’s federal NOL carryforwards or general business tax credits carryforwards deferred tax assets, the Company has provided a valuation allowance against certain other federal deferred tax assets that were not deemed realizable based upon near term estimates of future taxable income. Should the Company continue to experience operating losses of the same magnitude it has experienced in the past several years, it is reasonably possible in the near term that the future reversal of its U.S. federal deductible temporary differences could exceed the future reversal of its U.S. federal taxable temporary differences, in which case the Company would record a valuation allowance for such excess with a corresponding reduction of federal income tax benefit on its Consolidated Statements of Operations. | ||||||||||||
As of December 31, 2013, the Company had a federal capital loss carryforward of $370.5 million which will expire in 2018. The Company does not project having sufficient capital gains in future years in order to utilize these capital loss carryovers. As such, a full valuation allowance has been provided for the capital loss carryover in 2013. | ||||||||||||
NOL carryforwards for the Company’s subsidiaries for state income taxes were $6,500.7 million and $5,976.8 million as of December 31, 2013 and 2012, respectively. The state NOL carryforwards per the income tax returns filed included unrecognized tax benefits taken in prior years. Due to application of ASC Topic 740, they are larger than the NOLs for which a deferred tax asset is recognized for financial statement purposes. We believe that it is more likely than not that the benefit from certain state NOL carryforwards will not be realized. In recognition of this risk, we have provided a valuation allowance of $336.5 million on the deferred tax assets relating to these NOL carryforwards and other state deferred tax assets which will not more likely than not be realized. We anticipate that state NOLs in the amount of $22.7 million will expire in 2014. The remainder of the state NOLs will expire between 2015 and 2033. | ||||||||||||
NOL carryforwards of the Company’s foreign subsidiaries were $118.9 million and $162.4 million as of December 31, 2013 and 2012, respectively. The majority of these foreign NOLs have an indefinite carryforward period but are subject to a full valuation allowance as the Company believes these assets do not meet the "more likely than not" criteria for recognition under ASC Topic 740. | ||||||||||||
As of December 31, 2013 and 2012, the Company had foreign tax credit carryforwards of $7.2 million and $12.3 million, respectively. During 2013, the Company amended its 2006 federal tax return to deduct $12.4 million of the foreign tax credits which were projected to expire in 2015. In 2013, the Company amended its 2007 federal tax return to claim $12.6 million of foreign tax credits which were projected to expire in 2015. The remaining foreign tax credit carryforwards of $7.2 million is projected to expire unused in 2015 as the Company does not project to have sufficient future foreign source income in order to utilize these carryforwards. As such, the Company has provided a full valuation allowance against the foreign tax credit carryforward deferred tax asset. | ||||||||||||
We do not provide for deferred taxes on the excess of the financial reporting over the tax basis in our investments in foreign subsidiaries that are essentially permanent in duration. That excess is estimated to total $110.3 million as of December 31, 2013. The additional deferred taxes, including foreign withholding taxes, that have not been provided is estimated at $13.3 million as of December 31, 2013. | ||||||||||||
Reconciliation Unrecognized Tax Benefits | ||||||||||||
Years Ended December 31, | ||||||||||||
(In millions) | 2013 | 2012 | 2011 | |||||||||
Balance at beginning of year | $ | 333.4 | $ | 532.3 | $ | 567.4 | ||||||
Additions based on tax positions related to the current year | 0.8 | 9.5 | 4.2 | |||||||||
Additions for tax positions of prior years | 6.7 | 3.3 | 2 | |||||||||
Reductions for tax positions for prior years | (50.5 | ) | (203.7 | ) | (36.4 | ) | ||||||
Settlements | (81.6 | ) | (7.9 | ) | — | |||||||
Expiration of statutes | (66.5 | ) | (0.1 | ) | (4.9 | ) | ||||||
Balance at end of year | $ | 142.3 | $ | 333.4 | $ | 532.3 | ||||||
We classify reserves for tax uncertainties within accrued expenses and deferred credits and other in our Consolidated Balance Sheets, separate from any related income tax payable or deferred income taxes. In accordance with ASC 740, reserve amounts relate to any potential income tax liabilities resulting from uncertain tax positions as well as potential interest or penalties associated with those liabilities. The reduction for tax positions from prior years in 2013, the settlements in 2013, and the expiration of statutes in 2013 primarily relate to the completion of several state audits encompassing numerous tax years. The Company recognized tax benefits through the reduction of tax expense of approximately $51.4 million related to the movement in uncertain tax positions. | ||||||||||||
We recognize interest and penalties accrued related to unrecognized tax benefits in income tax expense. We accrued approximately $19 million during 2011, and we reduced our accrual by approximately $10 million and $8.0 million during 2013 and 2012, respectively. In total, we have accrued balances of approximately $63 million, $73 million, and $80 million for the payment of interest and penalties at December 31, 2013, 2012 and 2011, respectively. Included in the balances of unrecognized tax benefits as of December 31, 2013, 2012 and 2011, are approximately $91 million, $219 million, and $287 million, respectively, of unrecognized tax benefits that, if recognized, would impact the effective tax rate. | ||||||||||||
We file income tax returns, including returns for our subsidiaries, with federal, state, and foreign jurisdictions. We are subject to exam by various state and foreign tax authorities. As of December 31, 2013, the tax years prior to 2010 are not subject to examination for U.S. tax purposes. As of December 31, 2013, the tax years prior to 2010 are no longer subject to examination for foreign and state income tax purposes as the statutes of limitations have lapsed. | ||||||||||||
The Company believes that it is reasonably possible that the unrecognized tax benefits liability will decrease within the next 12 months by $66.4 million due to state statute of limitations expirations during 2014. Audit outcomes and the timing of audit settlements are subject to significant uncertainty. Although the Company believes that adequate provision has been made for such issues, there is the possibility that the ultimate resolution of such issues could have an adverse effect on our earnings. Conversely, if these issues are resolved favorably in the future, the related provision would be reduced, thus having a favorable impact on earnings. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||
Fair Value Measurements | ' | |||||||||||||||||||
Fair Value Measurements | ||||||||||||||||||||
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the principle market or, if none exists, the most advantageous market, for the specific asset or liability at the measurement date (referred to as the "exit price"). Fair value is a market-based measurement that should be determined based upon assumptions that market participants would use in pricing an asset or liability, including consideration of nonperformance risk. | ||||||||||||||||||||
We assess the inputs used to measure fair value using the three-tier hierarchy promulgated under GAAP. This hierarchy indicates the extent to which inputs used in measuring fair value are observable in the market. | ||||||||||||||||||||
Level 1: | Inputs include quoted prices in active markets for identical assets or liabilities that are accessible at the measurement date. | |||||||||||||||||||
Level 2: | Inputs other than quoted prices included in Level 1 that are observable either directly or indirectly, including quoted prices for similar assets in active markets, quoted prices from identical or similar assets in inactive markets, and observable inputs such as interest rates and yield curves. | |||||||||||||||||||
Level 3: | Inputs that are significant to the measurement of fair value that are not observable in the market and include management's judgments about assumptions market participants would use in pricing the asset or liability (including assumptions about risk). | |||||||||||||||||||
Our assessment of goodwill and other intangible assets for impairment includes an assessment using various Level 2 (EBITDA multiples and discount rate) and Level 3 (forecasted cash flows) inputs. See Note 2, "Summary of Significant Accounting Policies - Goodwill and Other Non-Amortizing Intangible Assets," for more information on the application of the use of fair value methodology to measure goodwill and other intangible assets. | ||||||||||||||||||||
Under GAAP, entities are allowed to measure certain financial instruments and other items at fair value. We have not elected the fair value measurement option for any of our assets or liabilities that meet the criteria for this option. Irrespective of the fair value option previously described, GAAP requires certain financial and non-financial assets and liabilities of the Company to be measured on either a recurring basis or on a nonrecurring basis as shown in the sections that follow. | ||||||||||||||||||||
Items Measured at Fair Value on a Recurring Basis | ||||||||||||||||||||
(In millions) | Balance | Level 1 | Level 2 | Level 3 | ||||||||||||||||
December 31, 2013 | ||||||||||||||||||||
Assets: | ||||||||||||||||||||
Investments | $ | 91.7 | $ | 91.7 | $ | — | $ | — | ||||||||||||
Derivative instruments | * | — | * | — | ||||||||||||||||
Liabilities: | ||||||||||||||||||||
Derivative instruments | (165.9 | ) | — | (165.9 | ) | — | ||||||||||||||
December 31, 2012 | ||||||||||||||||||||
Assets: | ||||||||||||||||||||
Investments | $ | 114.2 | $ | 114.2 | $ | — | $ | — | ||||||||||||
Derivative instruments | * | — | * | — | ||||||||||||||||
Liabilities: | ||||||||||||||||||||
Derivative instruments | (306.4 | ) | — | (306.4 | ) | — | ||||||||||||||
____________________ | ||||||||||||||||||||
* | Amount rounds to zero | |||||||||||||||||||
Investments | ||||||||||||||||||||
Investments consist of debt and equity securities with maturity dates of greater than three months from the date of purchase. The majority of these securities are traded in active markets, have readily determinable 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. All of these investments are included in either prepayments and other current assets or deferred charges and other in our Consolidated Balance Sheets. The following table shows our investments by type. | ||||||||||||||||||||
(In millions) | 2013 | 2012 | ||||||||||||||||||
Equity | $ | 19.6 | $ | 2.8 | ||||||||||||||||
Government bonds | 72.1 | 111.4 | ||||||||||||||||||
Total Investments | $ | 91.7 | $ | 114.2 | ||||||||||||||||
Gross unrealized gains and losses on marketable securities as of December 31, 2013 and 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. Derivative instruments are included in either deferred charges and other, or deferred credits and other, in our Consolidated Balance Sheets. 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 10, "Derivative Instruments," for more information. | ||||||||||||||||||||
Items Measured at Fair Value on a Non-recurring Basis | ||||||||||||||||||||
(In millions) | Balance | Level 1 | Level 2 | Level 3 | Total Adjustments Loss/(Gain) | |||||||||||||||
Intangible and tangible assets | $ | 311.8 | $ | — | $ | — | $ | 311.8 | $ | 2,440.10 | ||||||||||
Assets held for sale, net | 11.9 | — | — | 11.9 | 25.3 | |||||||||||||||
Contingent earnout liability | 61.9 | — | — | 61.9 | 53.4 | |||||||||||||||
Market and income approaches were used to value the intangible and tangible assets. Inputs included an expected range of market values, probabilities estimated by management that each value could be achieved, expected cash flows, recent comparable transactions, discounted cash flows, discount rate, royalty rate, growth rate, and tax rate. See Note 2, "Summary of Significant Accounting Policies." | ||||||||||||||||||||
Assets held for sale, net includes the net assets of the Claridge Hotel Tower in Atlantic City. The contingent earnout liability relates to CIE acquisitions. See Note 4, "Acquisitions, Dispositions, and Divestitures." |
Litigation_Contractual_Commitm
Litigation, Contractual Commitments and Contingent Liabilities | 12 Months Ended | ||||
Dec. 31, 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 | |||||
Casino Development Opportunities | |||||
We continue to pursue additional casino development opportunities that may require, individually and in the aggregate, significant commitments of capital, up-front payments to third parties, and development completion guarantees. | |||||
The agreements pursuant to which we manage casinos on Indian lands contain provisions required by law that provide a minimum monthly payment that must be made to the tribe. That obligation has priority over scheduled repayments of borrowings for development costs and over the management fee earned and paid to the manager. In the event that insufficient cash flow is generated by the operations to fund this payment, we must pay the shortfall to the tribe. Subject to certain limitations as to time, such advances, if any, would be repaid to us in future periods in which operations generate cash flow in excess of the required minimum payment. These commitments will terminate upon the occurrence of certain defined events, including termination of the management contract. Our aggregate monthly commitment for the minimum guaranteed payments, pursuant to contracts for the three managed, Indian-owned facilities is $1.2 million. Each of these casinos currently generates sufficient cash flows to cover all of its obligations, including its debt service. | |||||
Tribal Casino Management Contracts | |||||
Casino | Location | Expiration of | |||
Management Agreement | |||||
Harrah’s Rincon | near San Diego, California | November 2014 | |||
Harrah’s Ak-Chin | near Phoenix, Arizona | December 2014 | |||
Harrah’s Cherokee | Cherokee, North Carolina | November 2018 | |||
In addition to the guarantees discussed above, we had total aggregate non-cancellable purchase obligations of $812.2 million as of December 31, 2013. | |||||
Planet Hollywood | |||||
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 currently known as "The Axis at Planet Hollywood." In connection with that transaction, the Company refurbished the The Axis at Planet Hollywood 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 The Axis at Planet Hollywood. The performance agreement with Ms. Spears contains customary representations, warranties, covenants and agreements and exclusivity and non-compete provisions for similar transactions. As of December 31, 2013, aggregate remaining commitments under the lease termination agreement, amounts committed to refurbishing the theatre and commitments under the performance agreement aggregate approximately $36.2 million through December 31, 2015. | |||||
Contingent Liabilities | |||||
Employee Benefit Obligations | |||||
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 million to $280 million. Counsel for the defendants further advised that approximately $50 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. | |||||
We received a letter from Hilton dated October 7, 2009, notifying us for the first time of this lawsuit and alleging that we have potential liability for the above described claims under the terms of the Allocation Agreement. Based on the terms of the Allocation Agreement, we believed our maximum potential exposure is approximately 30 percent to 33 percent of the amount ultimately awarded as damages. We are not a party to the proceedings between the plaintiffs and the defendants and have not participated in the defense of the litigation or in any discussions between the plaintiffs and the defendants about potential remedies or damages. Further, we did not have access to information sufficient to enable us to make an independent judgment about the possible range of loss in connection with this matter. Based on conversations between our representative and a representative of the defendants, we believed it was probable that damages would be at least $80.0 million and, accordingly, we recorded a charge of $25.0 million in accordance with FASB Codification Topic 450, Contingencies, during the second quarter 2010. | |||||
On December 27, 2013, we received a letter from Hilton notifying us that all final court rulings have been rendered in relation to this matter, and that our obligation under the Allocation Agreement was approximately $61.6 million, of which $17.9 million was due in January 2014. Subsequent to the December letter, we were informed by Hilton that our total obligation under the Allocation Agreement was approximately $53.5 million, of which we believe approximately $18.5 million relates to contributions for historical periods and approximately $35.0 million relates to estimated future contributions. Because we have not been able to adequately assess the information supporting either Hilton’s calculation of total amount due under the Allocation Agreement or the portions of that total amount that represent historical and future obligations, we have not been able to revise our estimate. We cannot currently predict the ultimate outcome of this matter, but we continue to believe that we may have various defenses against such claims, including defenses as to the amount of liabilities. | |||||
Other Matters | |||||
In recent years, governmental authorities have been increasingly focused on anti-money laundering (“AML”) policies and procedures, with a particular focus on the gaming industry. As an example, a major gaming company recently settled a U.S. Attorney investigation into its AML practices. On October 11, 2013, a subsidiary of the Company received a letter from the Financial Crimes Enforcement Network of the United States Department of the Treasury (“FinCEN”), stating that FinCEN is investigating the Company’s subsidiary, Desert Palace, Inc. (the owner of Caesars Palace), for alleged violations of the Bank Secrecy Act to determine whether it is appropriate to assess a civil penalty and/or take additional enforcement action against Caesars Palace. Additionally, the Company has been informed that a federal grand jury investigation regarding the Company’s anti-money laundering practices and procedures is ongoing. The Company is fully cooperating with both the FinCEN and grand jury investigations. Based on proceedings to date, the Company is currently unable to determine the probability of the outcome of these matters or the range of reasonably possible loss, if any. | |||||
Self-Insurance | |||||
We are self-insured for various levels of workers’ compensation, property and general liability, employee medical coverage, and other coverage. Insurance claims and reserves include accruals of estimated settlements for known claims, as well as accruals of actuarial estimates of incurred but not reported claims. As of December 31, 2013 and 2012, we had total self-insurance liability accruals of $208.2 million and $202.0 million, respectively. |
Leases
Leases | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Leases [Abstract] | ' | |||||||||||
Leases | ' | |||||||||||
Leases | ||||||||||||
We lease both real estate and equipment used in our operations and classify those leases as either operating or capital leases, for accounting purposes. As of December 31, 2013, the remaining lives of our operating leases ranged from 1 to 84 years, with various automatic extensions totaling up to 80 years. Rent expense, net of income from subleases, is associated with operating leases for continuing operations and is charged to expense in the year incurred. In addition to the minimum rental commitments, certain of our operating leases provide for contingent rentals based on a percentage of revenues in excess of specified amounts. | ||||||||||||
Net Rent Expense | ||||||||||||
Years Ended December 31, | ||||||||||||
(In millions) | 2013 | 2012 | 2011 | |||||||||
Noncancelable leases: | ||||||||||||
Minimum | $ | 71.5 | $ | 115.2 | $ | 102.1 | ||||||
Contingent | 2.1 | 2.3 | 2.4 | |||||||||
Sublease | (0.9 | ) | (0.9 | ) | (0.9 | ) | ||||||
Other leases | 57.7 | 77.9 | 74.6 | |||||||||
Total net rent expense | $ | 130.4 | $ | 194.5 | $ | 178.2 | ||||||
Future Minimum Lease Obligations | ||||||||||||
(In millions) | Capital | Operating | ||||||||||
Leases | Leases | |||||||||||
2014 | $ | 16.1 | $ | 61.1 | ||||||||
2015 | 7.8 | 58.9 | ||||||||||
2016 | — | 54.7 | ||||||||||
2017 | — | 53.8 | ||||||||||
2018 | — | 53.9 | ||||||||||
2019 and thereafter | — | 1,059.10 | ||||||||||
Total minimum rental commitments | 23.9 | $ | 1,341.50 | |||||||||
Less amounts representing interest | (1.7 | ) | ||||||||||
Present value of net minimum lease payments | $ | 22.2 | ||||||||||
Supplemental_Cash_Flow_Informa
Supplemental Cash Flow Information | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Supplemental Cash Flow Information [Abstract] | ' | |||||||||||
Supplemental Cash Flow Information | ' | |||||||||||
Supplemental Cash Flow Information | ||||||||||||
Reconciliation of Cash Paid for Interest | ||||||||||||
Years Ended December 31, | ||||||||||||
(In millions) | 2013 | 2012 | 2011 | |||||||||
Interest expense | $ | 2,253.00 | $ | 2,100.30 | $ | 2,121.70 | ||||||
Adjustments to reconcile to cash paid for interest: | ||||||||||||
Net change in accrued interest | (125.4 | ) | (13.1 | ) | (11.9 | ) | ||||||
Amortization of deferred finance charges | (51.2 | ) | (88.5 | ) | (70.3 | ) | ||||||
Net amortization of discounts and premiums | (308.9 | ) | (226.3 | ) | (157.2 | ) | ||||||
Reclassification of accumulated other comprehensive loss | — | — | (183.2 | ) | ||||||||
Amortization of other comprehensive income | (4.7 | ) | (29.1 | ) | (83.3 | ) | ||||||
Rollover of PIK interest to principal | (1.2 | ) | (1.0 | ) | (1.1 | ) | ||||||
Change in fair value of derivative instruments | 137.6 | 29.6 | 70.3 | |||||||||
Cash paid for interest | $ | 1,899.20 | $ | 1,771.90 | $ | 1,685.00 | ||||||
StockBased_Compensation
Stock-Based Compensation | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||
Stock-Based Compensation | ' | ||||||||||||
Stock-Based Compensation | |||||||||||||
We have established a number of employee benefit programs for purposes of attracting, retaining, and motivating our employees. The following is a description of the basic components of these programs as of December 31, 2013. | |||||||||||||
Stock-Based Compensation Plans | |||||||||||||
Our stock-based compensation expense consists primarily of time-based and performance based stock options, restricted stock units and restricted stock awards that have been granted to management, other personnel and key service providers. | |||||||||||||
Stock-Based Compensation Expense | |||||||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||||||
Amounts included in: | |||||||||||||
Corporate expense | $ | 24.8 | $ | 29.1 | $ | 13.8 | |||||||
Property, general, administrative, and other | 31.7 | 26 | 8 | ||||||||||
Total stock-based compensation expense | $ | 56.5 | $ | 55.1 | $ | 21.8 | |||||||
Included in stock-based compensation expense for the years ended December 31, 2013, 2012, and 2011 is $25.4 million, $20.6 million, and $0.2 million, respectively, for share based awards issuable in shares of a consolidated entity. The majority of these awards have been classified as liability awards and are remeasured to fair value at each reporting date. | |||||||||||||
Management Equity Incentive Plan | |||||||||||||
The Management Equity Incentive Plan allowed for the granting of performance-based options. The options vest and become exercisable if the return on investment in the Company of TPG, Apollo, and their affiliates (the "Majority Stockholders") achieves a 2.0X return. The options vest on a pro-rata basis from zero to 100% if the Majority Stockholders achieve a return of less than 2.0X but greater than or equal to 1.75X. Upon the adoption of the 2012 Performance Incentive Plan, options may no longer be granted under the Management Equity Incentive Plan. As of December 31, 2013, 25,053 options were outstanding under this plan will expire between years 2018 - 2021. | |||||||||||||
Performance Incentive Plan | |||||||||||||
In 2012, we adopted the 2012 Performance Incentive Plan, as amended, (the "2012 Incentive Plan") for directors, employees, officers and consultants or advisors who render services to the Company or its subsidiaries. As of December 31, 2013, a total of 15,449,468 stock-based awards issuable in shares of CZR common stock may be issued under this plan. The 2012 Incentive Plan provided for a one-time stock option exchange program (the "Option Exchange") to permit the Company to cancel certain stock options held by certain of its employees, service providers and directors in exchange for new, replacement options to purchase an equal number of shares of our common stock (the "Replacement Options"). | |||||||||||||
Options eligible for the Option Exchange (the "Eligible Options") were granted on or prior to February 9, 2012, and had an exercise price equal to or greater than $20.09 per share. Replacement Options have an exercise price of $8.22 per share, a 10-year term and a new vesting schedule determined on a grant-by-grant basis, as follows: | |||||||||||||
Time-Based Options: 20% of the time-based Replacement Options were immediately vested, with the remainder vesting annually in equal amounts over four years. | |||||||||||||
Performance-Based Options: | |||||||||||||
• | For options replacing the Eligible Options subject to vesting if funds affiliated with the Sponsors achieve at least a 1.5X return, the Replacement Options will vest on the date that the Company's 30-day trailing average closing common stock price equals or exceeds $35.00 per share. | ||||||||||||
• | For options replacing the Eligible Options subject to vesting if funds affiliated with the Sponsors achieve at least a 2.0X return, the Replacement Options (prior to the modification described below) vested on the date that the Company's 30-day trailing average closing common stock price equaled or exceeded $57.41 per share. | ||||||||||||
• | In December 2013, the Company modified the vesting period for its performance-based options that originally vested upon the Company common stock price equaling or exceeding $57.41 per share over a 30-day trailing period. The modification provides for these options to vest on the earlier of the following: (i) 50% on March 15, 2014 and 50% on March 15, 2015 or (ii) the Company's 30-day trailing average closing common stock price equals or exceeds $57.41 per share. There was no incremental compensation relating to such modification; however, the Company will accelerate the amortization of the compensation expense relating to the modified options in accordance with the modified vesting period. | ||||||||||||
Loveman Performance-Based Option: The Company granted 290,334 options in November 2011 to Gary Loveman, the Company's Chairman of the Board, Chief Executive Officer and President. The options were eligible to vest if funds affiliated with the Sponsors achieve at least a 1.0X return (the "Loveman Performance-Based Option"). The Replacement Options granted in exchange for the Loveman Performance-Based Options (which were modified as described above) vested on the date that the Company's 30‑day trailing average closing common stock price equaled or exceeded $57.41 per share. | |||||||||||||
As a result of the Option Exchange, incremental stock compensation of $15.2 million was realized and is being amortized to compensation expense over an approximate vesting period of 4 to 5.5 years. | |||||||||||||
Stock Option Activity | |||||||||||||
Shares | Weighted | Fair | Weighted Average | ||||||||||
Average | Value (1) | Remaining | |||||||||||
Exercise | Contractual Term | ||||||||||||
Price | (years) | ||||||||||||
Outstanding as of December 31, 2012 | 8,478,148 | $ | 12.22 | $ | 3.51 | ||||||||
Granted | 550,812 | 13.65 | 5.95 | ||||||||||
Exercised | (143,109 | ) | 8.38 | 7.33 | |||||||||
Forfeited | (344,656 | ) | 10.64 | 3.01 | |||||||||
Expired | (77,384 | ) | 16.42 | 5.4 | |||||||||
Outstanding as of December 31, 2013 | 8,463,811 | $ | 12.09 | $ | 2.68 | 8.5 | |||||||
Vested and expected to vest as of December 31, 2013 | 7,975,096 | $ | 11.96 | $ | 2.84 | 8.5 | |||||||
Exercisable as of December 31, 2013 | 2,314,229 | $ | 15.53 | $ | 4.58 | 8.3 | |||||||
____________________ | |||||||||||||
(1) | Represents the weighted-average grant date fair value per option, using the Monte Carlo simulation option-pricing model for performance-based options, and the Black-Scholes option-pricing model for time-based options. | ||||||||||||
Stock Option Grants and Exercises | |||||||||||||
Years Ended December 31, | |||||||||||||
(Dollars in millions, except per share data) | 2013 | 2012 | 2011 | ||||||||||
Options Granted: | |||||||||||||
Number of options granted | 550,812 | 8,173,944 | 2,252,457 | ||||||||||
Weighted Average Grant-Date Fair Value per share (1) | $5.95 | $3.50 | $10.55 | ||||||||||
Weighted Average Exercise Price per Share (1)(2) | $13.65 | $8.44 | $26.23 | ||||||||||
Option Exercises: | |||||||||||||
Number of options exercised | 143,109 | — | — | ||||||||||
Cash received for options exercised | $1.20 | — | — | ||||||||||
Intrinsic value of options exercised | $1.50 | — | — | ||||||||||
Intrinsic Value of Options Vested and Expected to Vest: | $86.10 | $0.10 | — | ||||||||||
____________________ | |||||||||||||
-1 | Represents the weighted-average grant date fair value per option, using the Monte Carlo simulation option-pricing model for performance-based options, and the Black-Scholes option-pricing model for time-based options. | ||||||||||||
(2) | Adjusted for the February 2012 1.742-for-1 stock split. | ||||||||||||
The Company utilized historical optionee behavioral data to estimate the option exercise and termination rates used in the option-pricing models. The expected term of the options represents the period of time the options were expected to be outstanding based on historical trends and/or derived from a numerical pricing model, such as the Monte Carlo simulation model. Expected volatility was based on the historical volatility of the common stock of Caesars Entertainment and its competitor peer group for a period approximating the expected life. The Company does not expect to pay dividends on common stock. The risk-free interest rate within the expected term was based on the U.S. Treasury yield curve in effect at the time of grant. Valuation assumptions for the indicated periods are presented below: | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Expected volatility | 57.4 | % | 55.8 | % | 65.8 | % | |||||||
Expected dividend yield | — | % | — | % | — | % | |||||||
Expected term (in years) | 3.8 | 4.9 | 4.8 | ||||||||||
Risk-free interest rate | 1 | % | 0.9 | % | 1.1 | % | |||||||
As of December 31, 2013, there was $50.9 million of total unrecognized compensation cost related to Caesars Entertainment Corporation share-based compensation plans, which is expected to be recognized over a remaining weighted-average period of 3.3 years. | |||||||||||||
Restricted Stock Units | |||||||||||||
On June 28, 2013, the Company granted restricted stock units (the "RSUs") to employees of the Company with an aggregate fair value of $21.7 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. The following table summarizes the activity of RSUs during the fiscal year ended December 31, 2013. There were no RSUs outstanding during 2012. | |||||||||||||
Restricted Stock Unit Activity | |||||||||||||
Units | Fair Value | ||||||||||||
Outstanding as of December 31, 2012 | — | — | |||||||||||
Granted | 1,579,837 | $13.74 | |||||||||||
Forfeited | (76,303 | ) | $13.70 | ||||||||||
Outstanding as of December 31, 2013 | 1,503,534 | $13.74 | |||||||||||
In addition to the RSU activity presented above, during the fiscal year ended December 31, 2013 there were 5,260 RSUs granted and 7,991 RSUs outstanding as of December 31, 2013 relating to a consolidated entity. The weighted-average grant date fair value per RSU granted and outstanding during and as of December 31, 2013 was $5,470 and $3,853, respectively. | |||||||||||||
Restricted Common Stock Awards | |||||||||||||
For the year ended December 31, 2012, the Company granted 50,000 shares of restricted common stock to an executive officer of the Company under the Company's 2012 Incentive Plan. The restricted common stock vests annually in equal amounts over two years. As of December 31, 2013 and 2012, 25,000 shares and 50,000 shares of restricted common stock were outstanding, respectively. For the years ended December 31, 2013 and 2011, there were no shares of restricted common stock granted. |
Employee_Benefit_Plans
Employee Benefit Plans | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Employee Benefit Plans | ' | ||||||||||||||||||||||||
Employee Benefit Plans | |||||||||||||||||||||||||
We have established a number of employee benefit programs for purposes of attracting, retaining, and motivating our employees. The following is a description of the basic components of these programs as of December 31, 2013. | |||||||||||||||||||||||||
Savings and Retirement Plans | |||||||||||||||||||||||||
We maintain a defined contribution savings and retirement plan that allows employees to make pre-tax and after-tax contributions. Under the plan, participating employees may elect to contribute up to 50% of their eligible earnings (subject to IRS rules and regulations) and are eligible to receive a company match of up to $600, which was reinstated in 2012. Participating employees become vested in matching contributions on a pro-rata basis over five years of credited service. Our contribution expense for this plan was $12.5 million, $10.0 million, and $38,000 for the years ended December 31, 2013, 2012, and 2011, respectively. | |||||||||||||||||||||||||
We maintain several supplemental executive retirement plans ("SERP") to provide additional retirement benefits to a select group of former executives. The total liability reported in deferred credits and other for the SERP plans was $29.7 million as of December 31, 2013, and $32.0 million as of December 31, 2012. | |||||||||||||||||||||||||
Pension Commitments | |||||||||||||||||||||||||
With the acquisition of London Clubs, a CEOC subsidiary, in 2006 we assumed a defined benefit plan that provides benefits based on final pensionable salary. The assets of the plan are held in a separate trustee-administered fund and death-in-service benefits, professional fees, and other expenses are paid by the pension plan. | |||||||||||||||||||||||||
In the fourth quarter of 2013, Caesars elected to change its method of accounting for actuarial gains and losses for its pension plan in the United Kingdom to a preferable method permitted under GAAP. The new method (“Immediate Recognition Method”) recognizes actuarial gains and losses in operating results in the year in which the gains and losses occur rather than deferring them into Other Comprehensive Loss and amortizing them over future periods (“Deferral Method”). Caesars management believes that this accounting change improves the transparency of reporting by providing recognition of current economic and interest rate trends in the current period results, as opposed to deferring them and recognizing them over future periods. We applied this accounting change retrospectively to all periods presented, which increased property, general, and administrative expense, as well as net loss, by $9.9 million, $6.8 million, and $27.5 million for 2013, 2012, and 2011, respectively. The impact of the accounting change on all other financial statement line items was immaterial. We made an immaterial correction to the historical accounting for actuarial gains and losses, which increased property, general, administrative, and other expense, as well as net loss, by $3.8 million in 2012 and $9.9 million in 2011, respectively. The total decrease to basic and diluted earnings per share as a result of the above was $0.07, $0.09, and $0.30 for 2013, 2012, and 2011, respectively. In addition, as of January 1, 2011, we recognized an increase to accumulated deficit totaling $44.3 million, which included an immaterial error correction of $6.2 million. | |||||||||||||||||||||||||
This accounting change does not impact our debt covenant calculation and there is no impact on cash funding of the pension plan. During the fourth quarter 2013, we recognized $9.9 million in increased pension expense as compared to our previous method of accounting for this pension. Total plan assets at December 31, 2013 were $195.8 million with total projected benefit obligation totaling $270.8 million, resulting in a net pension liability of $75.0 million. Our estimated long term expected return on assets for this plan, which has been frozen since 2010 is 6.3%, with a 4.4% discount rate. | |||||||||||||||||||||||||
Multiemployer Pension Plan | |||||||||||||||||||||||||
The Company contributes to a number of multiemployer defined benefit pension plans under the terms of collective-bargaining agreements that cover its union-represented employees. The risks of participating in these multiemployer plans are different from a single-employer plan in the following aspects: | |||||||||||||||||||||||||
a. | Assets contributed to the multiemployer plan by one employer may be used to provide benefits to employees of other participating employers. | ||||||||||||||||||||||||
b. | If a participating employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers. | ||||||||||||||||||||||||
c. | If the Company chooses to stop participating in some of its multiemployer plans, the Company may be required to pay those plans an amount based on the underfunded status of the plan, referred to as a "withdrawal liability." | ||||||||||||||||||||||||
Multiemployer Pension Plan Participation | |||||||||||||||||||||||||
Pension Protection Act Zone Status (1) | Contributions | ||||||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||
Pension Fund | EIN/Pension Plan Number | 2013 | 2012 | FIP/RP Status (2) | 2013 | 2012 | 2011 | Surcharge Imposed | Expiration Date of Collective-Bargaining Agreement | ||||||||||||||||
Southern Nevada Culinary and Bartenders Pension Plan | 88-6016617/001 | Green | Green | No | $ | 20 | $ | 18.7 | $ | 16.3 | No | 31-May-18 | |||||||||||||
Pension Plan of the UNITE HERE National Retirement Fund | 13-6130178/001 | Red | Red | Yes | 14 | 13.8 | 12.8 | No | 14-Sep-14 | ||||||||||||||||
Local 68 Engineers Union Pension Plan (3) | 51-0176618/001 | Yellow | Green | Yes | 1.5 | 1.5 | 1.6 | No | 30-Apr-14 | ||||||||||||||||
NJ Carpenters Pension Fund | 22-6174423/001 | Yellow | Yellow | Yes | 0.5 | 0.4 | 0.4 | No | 30-Apr-14 | ||||||||||||||||
Other Funds | 12.6 | 12.5 | 13.7 | ||||||||||||||||||||||
Total Contributions | $ | 48.6 | $ | 46.9 | $ | 44.8 | |||||||||||||||||||
____________________ | |||||||||||||||||||||||||
-1 | Represents the Pension Protection Act ("PPA") zone status for applicable plan year beginning January 1, 2013, except where noted otherwise. | ||||||||||||||||||||||||
-2 | Indicates plans for which a financial improvement plan ("FIP") or a rehabilitation plan ("RP") is either pending or has been implemented. | ||||||||||||||||||||||||
-3 | Plan years begin July 1. | ||||||||||||||||||||||||
The zone status is based on information that the Company received from the plan administrator and is certified by the plan's actuary. Among other factors, plans in the red zone are generally less than less than 65% funded, plans in the yellow zone are between 65% and less than 80% funded, and plans in the green zone are at least 80% funded. All plans detailed in the table above utilized extended amortization provisions to calculate zone status. | |||||||||||||||||||||||||
Plans with Company Contributions in Excess of 5% of Total Plan Contributions | |||||||||||||||||||||||||
Pension Fund | Applicable Plan Years | ||||||||||||||||||||||||
Pension Plan of the UNITE HERE National Retirement Fund | 2012 and 2011 | ||||||||||||||||||||||||
Southern Nevada Culinary and Bartenders Pension Plan | 2012 and 2011 | ||||||||||||||||||||||||
Local 68 Engineers Union Pension Plan | 2012 and 2011 | ||||||||||||||||||||||||
Nevada Resort Association IATSE Local 720 Retirement Plan | 2012 and 2011 | ||||||||||||||||||||||||
At the date these financial statements were issued, Forms 5500 were not available for the plan year ending in 2013. | |||||||||||||||||||||||||
Deferred Compensation Plans | |||||||||||||||||||||||||
The Company has one active and five frozen deferred compensation plans. Amounts deposited into these deferred compensation plans are unsecured liabilities of the Company. The total liability recorded in deferred credits and other for these plans is $84.3 million as of December 31, 2013 and $82.8 million as of December 31, 2012. Company matching contributions to the active plan were suspended beginning in February 2009, though participants continue to vest in contributions made prior to that date. | |||||||||||||||||||||||||
The active plan is the Executive Supplemental Savings Plan II ("ESSP II") and allows eligible executive officers, directors, and other key employees to elect to defer a percentage of their salary and/or bonus. Participants immediately vest in their own elective deferrals and vest in Company funded matching and discretionary contributions on a pro-rata basis over five years. However, Company matching contributions to this plan were suspended beginning in February 2009, though participants continue to vest in contributions made prior to that date. | |||||||||||||||||||||||||
The five frozen plans that contain deferred compensation assets are as follows: (1) Harrah's Executive Deferred Compensation Plan ("EDCP"), (2) the Harrah's Executive Supplemental Savings Plan ("ESSP"), (3) Harrah's Deferred Compensation Plan ("HDCP"), (4) the Restated Park Place Entertainment Corporation Executive Deferred Compensation Plan, and (5) the Caesars World, Inc. Executive Security Plan. Employees may no longer contribute to these plans. |
NonConsolidated_Affiliates
Non-Consolidated Affiliates | 12 Months Ended |
Dec. 31, 2013 | |
Investments in and Advances to Affiliates, Schedule of Investments [Abstract] | ' |
Non-Consolidated Affiliates | ' |
Non-Consolidated Affiliates | |
Our non-consolidated affiliates are accounted for under the equity method and, as of December 31, 2013, our investments in and advances to non-consolidated affiliates consists primarily of Baluma S.A, our investment in Rock Ohio Caesars LLC ("ROC") in Ohio, and a Korean investment. We manage ROC's Horseshoe Cleveland casino, Horseshoe Cincinnati casino and Thistledown Racino for a fee under management agreements that expire in May 2032, March 2033 and April 2033, respectively. |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 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. We pay a monitoring fee for these management services and reimburse the Sponsors for expenses they incur related to these management services. The fees paid to the Sponsors are included in corporate expense and were $22.5 million, $30.0 million, and $30.0 million for the years ended December 31, 2013, 2012, and 2011, respectively. Due to attaining certain cost savings measures during the fourth quarter of 2013, the Sponsors granted a waiver of the monitoring fee due for the fourth quarter of 2013 and first quarter of 2014. | |
As previously discussed, during the fourth quarter of 2013, Caesars and CAC executed a series of transactions as described in Note 5, "Caesars Growth Partners, LLC Transactions." | |
We may engage in transactions with other 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 | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
Subsequent Events | |
Sale of Properties from CEOC to CGP LLC | |
On March 1, 2014, Caesars entered into a Transaction Agreement (the "Property Sale Agreement") by and among CEC, CEOC, Caesars License Company, LLC ("CLC"), Harrah’s New Orleans Management Company ("HNOMC"), Corner Investment Company, LLC ("CIC"), 3535 LV Corp. ("3535 LV"), Parball Corporation ("Parball"), JCC Holding Company II, LLC ("JCC Holding"), CAC and CGP LLC. The Agreement was fully negotiated by and between a Special Committee of CEC’s Board of Directors (the "CEC Special Committee") and a Special Committee of CAC’s Board of Directors (the "CAC Special Committee"), each comprised solely of independent directors, and was recommended by both committees and approved by the Boards of Directors of CEC and CAC. The CEC Special Committee, the CAC Special Committee and the Boards of Directors of CEC and CAC each received fairness opinions from firms with experience in valuation matters, which stated that, based upon and subject to (and in reliance on) the assumptions made, matters considered and limits of such review, in each case as set forth in the opinions, the Purchase Price (as defined below) was fair from a financial point of view to CEC and Growth Partners, respectively. | |
Pursuant to the terms of the Property Sale Agreement, CGP LLC (or one or more of its designated direct or indirect subsidiaries) agreed to acquire from CEOC or one or more of its affiliates, (i) The Cromwell (f/k/a Bill’s Gamblin’ Hall & Saloon), The Quad Resort & Casino ("The Quad"), Bally’s Las Vegas and Harrah’s New Orleans (each a "Property" and collectively, the "Properties"), (ii) 50% of the ongoing management fees and any termination fees payable under the Property Management Agreements to be entered between a Property Manager (as defined below) and the owners of each of the Properties (the "Property Management Agreements "); and (iii) certain intellectual property that is specific to each of the Properties (together with the transactions described in (i) and (ii) above, the "Subsequent Property Transaction") for an aggregate purchase price of US $2,000.0 million (the "Subsequent Property Purchase Price"), net of assumed debt, in the Subsequent Property Transaction, and also subject to various pre-closing and post-closing adjustments in accordance with the terms of the Property Sale Agreement. Consistent with the 2013 sale of Planet Hollywood Las Vegas, this transaction will also be accounted for as a reorganization of entities under common control. | |
The Subsequent Property Transaction is subject to certain closing conditions, including the receipt of gaming and other required governmental approvals, accuracy of representations and warranties, compliance with covenants and receipt by CEC and the CEC Special Committee of certain opinions with respect to CEOC. In addition, the consummation of the Subsequent Property Transaction by CAC is subject to CAC’s receipt of financing on terms and conditions satisfactory to CAC and CGP LLC. In connection with the Subsequent Property Transaction, a wholly-owned subsidiary of CGP LLC entered into a commitment letter with certain financial institutions (the "Lenders"), pursuant to which, subject to the conditions set forth therein, the Lenders committed to provide $1,325.0 million in senior secured credit facilities (a $1,175.0 million senior secured term facility and a $150.0 million senior secured revolving facility) and $675.0 million in second lien indebtedness to consummate the Subsequent Property Transaction. The Property Sale Agreement provides that, at the closing of the Subsequent Property Transaction (the "Closing"), the owner of each Property will enter into a Property Management Agreement with the applicable Property Manager, pursuant to which, among other things, the Property Managers will provide management services to the applicable Property and Caesars Licensing Company, LLC will license enterprise-wide intellectual property used in the operation of the Properties. | |
The Agreement contains customary indemnification obligations of each party with respect to breaches of their respective representations, warranties, covenants and obligations, and certain other designated matters, which in certain circumstances are subject to specified limitations on the amount of indemnifiable damages and the survival period in which a claim may be made. Additional indemnification obligations of CEC and the Sellers (as defined in the Property Sale Agreement) include amounts expended for new construction and renovation at The Quad in excess of the $223 million budgeted for renovation expenses (up to a maximum amount equal to 15% of such budgeted amount and subject to certain exceptions) and certain liabilities arising under employee benefit plans. In addition to the aforementioned indemnification obligations, the Agreement requires that CEOC ensure that the remaining amounts required to construct and open The Cromwell be fully-funded by CEOC, including providing a minimum amount of House Funds (as defined in the Property Sale Agreement) in connection with the opening of The Cromwell. CEC and certain of its affiliates will indemnify CAC, CGP LLC and certain of their affiliates for a failure to open the hotel and casino at The Cromwell by a specified date and for failure to open the restaurant and nightclub at The Cromwell by a specified date. | |
The Property Management Agreements will be entered into at Closing by and between each of the four property management entities (each a "Property Manager" and collectively, the "Property Managers"), each of which (other than HNOMC, which is the existing manager of Harrah’s New Orleans) will be formed as a wholly-owned subsidiary of CEOC, and each of the respective owners of the Properties (the "Property Owners"). The ongoing management fees payable to each of the Property Managers consists of a (i) base management fee of 2% of net operating revenues with respect to each month of each year during the term of such agreement and (ii) an incentive management fee in an amount equal to 5% of EBITDA for each operating year. CEOC will guarantee the obligations of the Property Managers under each of the Property Management Agreements. | |
Pursuant to the terms of the Property Sale Agreement, the parties have agreed to use reasonable best efforts to establish a new services joint venture (the "Services JV") between CEOC, CERP and CGP LLC and certain of their respective subsidiaries. The purpose of the Services JV includes the common management of the enterprise-wide intellectual property, which will be licensed by the Services JV to, among other parties, each of the Property Owners, and shared services operations across the portfolio of CEOC, CERP and CGP LLC properties. Following the Closing, at CGP LLCs’ request and subject to receipt of any required regulatory approvals, the Property Management Agreements will be assigned to the Services JV which will thereafter perform the obligations of the Property Managers (in which case CEOC’s guarantee of the obligations under the assigned Property Management Agreements will be released). | |
The Property Sale Agreement is subject to termination if the Closing is not completed by June 30, 2014, which date may be extended until August 31, 2014 in certain circumstances. |
Condensed_Consolidating_Financ
Condensed Consolidating Financial Information of Guarantors and Issuers | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 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") as further discussed in Note 9, "Debt." The table below presents the condensed consolidating financial information relevant to these two guarantee structures as of December 31, 2013 and 2012, and for each of the three years in the period December 31, 2013. 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 | ||||||||||||||||||||||||||||
DECEMBER 31, 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 | ||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||
Current assets | ||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 113.3 | $ | 996.4 | $ | 293.6 | $ | 1,367.90 | $ | 1,661.50 | $ | — | $ | 2,771.20 | ||||||||||||||
Restricted cash | 30.5 | — | 1 | 56 | 57 | — | 87.5 | |||||||||||||||||||||
Receivables, net | 0.1 | 45.4 | 411.5 | 162.9 | 574.4 | — | 619.9 | |||||||||||||||||||||
Deferred income taxes | — | — | 113.8 | 8.7 | 122.5 | (113.8 | ) | 8.7 | ||||||||||||||||||||
Prepayments and other current assets | — | 26.1 | 83.7 | 130.1 | 213.8 | (2.5 | ) | 237.4 | ||||||||||||||||||||
Inventories | — | 0.3 | 28.4 | 16.9 | 45.3 | — | 45.6 | |||||||||||||||||||||
Intercompany receivables | 0.8 | 358.7 | 146.2 | 68.4 | 214.6 | (574.1 | ) | — | ||||||||||||||||||||
Assets held for sale | — | — | — | — | — | — | — | |||||||||||||||||||||
Total current assets | 144.7 | 1,426.90 | 1,078.20 | 1,810.90 | 2,889.10 | (690.4 | ) | 3,770.30 | ||||||||||||||||||||
Property and equipment, net | — | 204.9 | 6,980.10 | 6,056.40 | 13,036.50 | (3.5 | ) | 13,237.90 | ||||||||||||||||||||
Goodwill | — | — | 1,260.20 | 1,803.10 | 3,063.30 | — | 3,063.30 | |||||||||||||||||||||
Intangible assets other than goodwill | — | 3.5 | 2,837.50 | 646.7 | 3,484.20 | — | 3,487.70 | |||||||||||||||||||||
Investments in subsidiaries | — | 8,712.10 | 258.1 | 958.1 | 1,216.20 | (9,928.3 | ) | — | ||||||||||||||||||||
Investments in and advances to non-consolidated affiliates | — | — | 3.5 | 173.3 | 176.8 | — | 176.8 | |||||||||||||||||||||
Restricted cash | 20 | — | — | 316.8 | 316.8 | — | 336.8 | |||||||||||||||||||||
Deferred charges and other | 1 | 283.5 | 154.8 | 258.3 | 413.1 | (93.4 | ) | 604.2 | ||||||||||||||||||||
Deferred income taxes | 7.8 | 254.7 | — | 11.3 | 11.3 | (273.8 | ) | — | ||||||||||||||||||||
Intercompany receivables | 340.5 | 1,092.80 | 585.4 | 55 | 640.4 | (2,073.7 | ) | — | ||||||||||||||||||||
Assets held for sale | — | — | 11.9 | — | 11.9 | — | 11.9 | |||||||||||||||||||||
$ | 514 | $ | 11,978.40 | $ | 13,169.70 | $ | 12,089.90 | $ | 25,259.60 | $ | (13,063.1 | ) | $ | 24,688.90 | ||||||||||||||
Liabilities and Stockholders’ Equity/(Deficit) | ||||||||||||||||||||||||||||
Current liabilities | ||||||||||||||||||||||||||||
Accounts payable | $ | 0.3 | $ | 101 | $ | 181.7 | $ | 159.7 | $ | 341.4 | $ | — | $ | 442.7 | ||||||||||||||
Accrued expenses and other current liabilities | 3.8 | 187.5 | 486.6 | 536.9 | 1,023.50 | (2.5 | ) | 1,212.30 | ||||||||||||||||||||
Interest payable | — | 282.4 | 1.4 | 105.7 | 107.1 | — | 389.5 | |||||||||||||||||||||
Deferred income taxes | — | 363.5 | — | 39.5 | 39.5 | (113.8 | ) | 289.2 | ||||||||||||||||||||
Current portion of long-term debt | — | 86 | 23.6 | 87.5 | 111.1 | — | 197.1 | |||||||||||||||||||||
Intercompany payables | 5.3 | 9.6 | 317.3 | 241.9 | 559.2 | (574.1 | ) | — | ||||||||||||||||||||
Total current liabilities | 9.4 | 1,030.00 | 1,010.60 | 1,171.20 | 2,181.80 | (690.4 | ) | 2,530.80 | ||||||||||||||||||||
Long-term debt | — | 16,034.00 | 92.1 | 5,768.90 | 5,861.00 | (976.6 | ) | 20,918.40 | ||||||||||||||||||||
Accumulated losses of subsidiaries in excess of investment | 3,582.10 | — | — | — | — | (3,582.1 | ) | — | ||||||||||||||||||||
Deferred credits and other | — | 317.9 | 214.3 | 222.5 | 436.8 | (87.2 | ) | 667.5 | ||||||||||||||||||||
Deferred income taxes | — | 14.6 | 1,552.20 | 1,176.10 | 2,728.30 | (266.9 | ) | 2,476.00 | ||||||||||||||||||||
Intercompany payables | 55 | 285.4 | 871.2 | 862.1 | 1,733.30 | (2,073.7 | ) | — | ||||||||||||||||||||
Liabilities held for sale | — | — | — | — | — | — | — | |||||||||||||||||||||
3,646.50 | 17,681.90 | 3,740.40 | 9,200.80 | 12,941.20 | (7,676.9 | ) | 26,592.70 | |||||||||||||||||||||
Total Caesars stockholders’ equity/(deficit) | (3,132.5 | ) | (5,703.5 | ) | 9,429.30 | 1,670.90 | 11,100.20 | (5,386.2 | ) | (3,122.0 | ) | |||||||||||||||||
Noncontrolling interests | — | — | — | 1,218.20 | 1,218.20 | — | 1,218.20 | |||||||||||||||||||||
Total equity/(deficit) | (3,132.5 | ) | (5,703.5 | ) | 9,429.30 | 2,889.10 | 12,318.40 | (5,386.2 | ) | (1,903.8 | ) | |||||||||||||||||
$ | 514 | $ | 11,978.40 | $ | 13,169.70 | $ | 12,089.90 | $ | 25,259.60 | $ | (13,063.1 | ) | $ | 24,688.90 | ||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET | ||||||||||||||||||||||||||||
DECEMBER 31, 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 | ||||||||||||||||||||||||||||
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, net | 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’ Equity/(Deficit) | ||||||||||||||||||||||||||||
Current liabilities | ||||||||||||||||||||||||||||
Accounts payable | $ | 3.9 | $ | 75.9 | $ | 156.5 | $ | 139.9 | $ | 296.4 | $ | — | $ | 376.2 | ||||||||||||||
Accrued expenses and other current liabilities | 3.7 | 164.7 | 434.7 | 495.4 | 930.1 | — | 1,098.50 | |||||||||||||||||||||
Interest payable | — | 176 | 0.4 | 57.3 | 57.7 | — | 233.7 | |||||||||||||||||||||
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 | ) | — | ||||||||||||||||||||
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’ equity/(deficit) | (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 equity/(deficit) | (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 STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) | ||||||||||||||||||||||||||||
FOR THE YEAR ENDED DECEMBER 31, 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 | $ | — | $ | 56.4 | $ | 3,617.80 | $ | 2,134.60 | $ | 5,752.40 | $ | — | $ | 5,808.80 | ||||||||||||||
Food and beverage | — | 13.2 | 821.1 | 675.7 | 1,496.80 | — | 1,510.00 | |||||||||||||||||||||
Rooms | — | 15.9 | 628.7 | 575 | 1,203.70 | — | 1,219.60 | |||||||||||||||||||||
Management fees | — | 1.2 | 54.2 | 23.2 | 77.4 | (21.6 | ) | 57 | ||||||||||||||||||||
Other | — | 55 | 332 | 672.7 | 1,004.70 | (184.9 | ) | 874.8 | ||||||||||||||||||||
Reimbursed management costs | — | 0.1 | 52.7 | 233.8 | 286.5 | (18.5 | ) | 268.1 | ||||||||||||||||||||
Less: casino promotional allowances | — | (17.3 | ) | (698.6 | ) | (462.7 | ) | (1,161.3 | ) | — | (1,178.6 | ) | ||||||||||||||||
Net revenues | — | 124.5 | 4,807.90 | 3,852.30 | 8,660.20 | (225.0 | ) | 8,559.70 | ||||||||||||||||||||
Operating expenses | ||||||||||||||||||||||||||||
Direct | ||||||||||||||||||||||||||||
Casino | — | 36.7 | 2,075.60 | 1,168.20 | 3,243.80 | — | 3,280.50 | |||||||||||||||||||||
Food and beverage | — | 5.7 | 339.5 | 313.2 | 652.7 | — | 658.4 | |||||||||||||||||||||
Rooms | — | 2.4 | 145.5 | 157.5 | 303 | — | 305.4 | |||||||||||||||||||||
Property, general, administrative, and other | — | 31.5 | 1,166.10 | 1,137.30 | 2,303.40 | (166.3 | ) | 2,168.60 | ||||||||||||||||||||
Reimbursable management costs | — | 0.1 | 52.7 | 233.8 | 286.5 | (18.5 | ) | 268.1 | ||||||||||||||||||||
Depreciation and amortization | — | 4 | 342.3 | 219.1 | 561.4 | (0.2 | ) | 565.2 | ||||||||||||||||||||
Write-downs, reserves, and project opening costs, net of recoveries | — | 0.4 | 33.5 | 70.5 | 104 | — | 104.4 | |||||||||||||||||||||
Impairment of intangible and tangible assets | — | 0.9 | 1,866.60 | 1,151.40 | 3,018.00 | — | 3,018.90 | |||||||||||||||||||||
(Income)/loss on interests in non-consolidated affiliates | (0.4 | ) | — | (0.6 | ) | 18.6 | 18 | — | 17.6 | |||||||||||||||||||
(Income)/loss on interests in subsidiaries | 2,923.00 | 1,008.20 | 102.2 | — | 102.2 | (4,033.4 | ) | — | ||||||||||||||||||||
Corporate expense | 16 | 115.7 | 21.8 | 48 | 69.8 | (40.1 | ) | 161.4 | ||||||||||||||||||||
Acquisition and integration costs | — | 12.3 | 0.1 | 68.9 | 69 | — | 81.3 | |||||||||||||||||||||
Amortization of intangible assets | — | 0.7 | 86.7 | 77.1 | 163.8 | — | 164.5 | |||||||||||||||||||||
Total operating expenses | 2,938.60 | 1,218.60 | 6,232.00 | 4,663.60 | 10,895.60 | (4,258.5 | ) | 10,794.30 | ||||||||||||||||||||
Iincome/(loss) from operations | (2,938.6 | ) | (1,094.1 | ) | (1,424.1 | ) | (811.3 | ) | (2,235.4 | ) | 4,033.50 | (2,234.6 | ) | |||||||||||||||
Interest expense | 2.3 | (2,075.5 | ) | (57.5 | ) | (350.1 | ) | (407.6 | ) | 227.8 | (2,253.0 | ) | ||||||||||||||||
Gains/(losses) on early extinguishments of debt | — | (29.5 | ) | (2.0 | ) | 1.7 | (0.3 | ) | — | (29.8 | ) | |||||||||||||||||
Gain/(loss) on partial sale of subsidiary | — | — | (8.9 | ) | 53 | 44.1 | — | 44.1 | ||||||||||||||||||||
Other income, including interest income | 23.1 | 60.5 | 22.8 | 190.9 | 213.7 | (283.5 | ) | 13.8 | ||||||||||||||||||||
Income/(loss) from continuing operations before income taxes | (2,913.2 | ) | (3,138.6 | ) | (1,469.7 | ) | (915.8 | ) | (2,385.5 | ) | 3,977.80 | (4,459.5 | ) | |||||||||||||||
Benefit/(provision) for income taxes | (0.1 | ) | 797.5 | 481.9 | 257.6 | 739.5 | 12.8 | 1,549.70 | ||||||||||||||||||||
Income/(loss) from continuing operations, net of income taxes | (2,913.3 | ) | (2,341.1 | ) | (987.8 | ) | (658.2 | ) | (1,646.0 | ) | 3,990.60 | (2,909.8 | ) | |||||||||||||||
Discontinued operations | — | |||||||||||||||||||||||||||
Income/(loss) from discontinued operations | — | — | (0.8 | ) | (29.0 | ) | (29.8 | ) | — | (29.8 | ) | |||||||||||||||||
Benefit/(provision) for income taxes | — | — | 0.3 | (0.5 | ) | (0.2 | ) | — | (0.2 | ) | ||||||||||||||||||
Loss from discontinued operations, net of income taxes | — | — | (0.5 | ) | (29.5 | ) | (30.0 | ) | — | (30.0 | ) | |||||||||||||||||
Net income/(loss) | (2,913.3 | ) | (2,341.1 | ) | (988.3 | ) | (687.7 | ) | (1,676.0 | ) | 3,990.60 | (2,939.8 | ) | |||||||||||||||
Less: net income attributable to noncontrolling interests | — | — | — | (8.4 | ) | (8.4 | ) | — | (8.4 | ) | ||||||||||||||||||
Net income/(loss) attributable to Caesars | (2,913.3 | ) | (2,341.1 | ) | (988.3 | ) | (696.1 | ) | (1,684.4 | ) | 3,990.60 | (2,948.2 | ) | |||||||||||||||
Other comprehensive income/(loss), net of income taxes: | ||||||||||||||||||||||||||||
Total other comprehensive income/(loss), net of income taxes | — | 3.5 | — | 79.3 | 79.3 | (121.2 | ) | (38.4 | ) | |||||||||||||||||||
Less: foreign currency translation adjustments attributable to noncontrolling interests, net of income taxes | — | — | — | 0.1 | 0.1 | — | 0.1 | |||||||||||||||||||||
Comprehensive income/(loss) attributable to Caesars | $ | (2,913.3 | ) | $ | (2,337.6 | ) | $ | (988.3 | ) | $ | (616.7 | ) | $ | (1,605.0 | ) | $ | 3,869.40 | $ | (2,986.5 | ) | ||||||||
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) | ||||||||||||||||||||||||||||
FOR THE YEAR ENDED DECEMBER 31, 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 | $ | — | $ | 53.9 | $ | 3,875.50 | $ | 2,313.60 | $ | 6,189.10 | $ | — | $ | 6,243.00 | ||||||||||||||
Food and beverage | — | 12.5 | 812.8 | 682.3 | 1,495.10 | — | 1,507.60 | |||||||||||||||||||||
Rooms | — | 17.8 | 626.3 | 561.4 | 1,187.70 | — | 1,205.50 | |||||||||||||||||||||
Management fees | — | 3.9 | 56.2 | 11.6 | 67.8 | (24.4 | ) | 47.3 | ||||||||||||||||||||
Other | — | 54 | 347.1 | 541.3 | 888.4 | (180.4 | ) | 762 | ||||||||||||||||||||
Reimbursed management costs | — | — | 28.4 | 38.7 | 67.1 | — | 67.1 | |||||||||||||||||||||
Less: casino promotional allowances | — | (19.0 | ) | (744.3 | ) | (488.8 | ) | (1,233.1 | ) | — | (1,252.1 | ) | ||||||||||||||||
Net revenues | — | 123.1 | 5,002.00 | 3,660.10 | 8,662.10 | (204.8 | ) | 8,580.40 | ||||||||||||||||||||
Operating expenses | ||||||||||||||||||||||||||||
Direct | ||||||||||||||||||||||||||||
Casino | — | 37.7 | 2,204.80 | 1,310.50 | 3,515.30 | — | 3,553.00 | |||||||||||||||||||||
Food and beverage | — | 5.9 | 330.9 | 320.8 | 651.7 | — | 657.6 | |||||||||||||||||||||
Rooms | — | 1.7 | 140.4 | 155.5 | 295.9 | — | 297.6 | |||||||||||||||||||||
Property, general, administrative, and other | — | 23.5 | 1,137.40 | 1,041.30 | 2,178.70 | (158.7 | ) | 2,043.50 | ||||||||||||||||||||
Reimbursable management costs | — | — | 28.4 | 38.7 | 67.1 | — | 67.1 | |||||||||||||||||||||
Depreciation and amortization | — | 6.7 | 445.4 | 262.3 | 707.7 | — | 714.4 | |||||||||||||||||||||
Write-downs, reserves, and project opening costs, net of recoveries | 15 | 12.1 | 57.1 | 15.5 | 72.6 | — | 99.7 | |||||||||||||||||||||
Impairment of intangible and tangible assets | — | — | 1,064.70 | 9.5 | 1,074.20 | — | 1,074.20 | |||||||||||||||||||||
Loss on interests in non-consolidated affiliates | — | — | 0.5 | 17 | 17.5 | — | 17.5 | |||||||||||||||||||||
(Income)/loss on interests in subsidiaries | 1,464.30 | 460.8 | (6.6 | ) | — | (6.6 | ) | (1,918.5 | ) | — | ||||||||||||||||||
Corporate expense | 28.2 | 126.1 | 32 | 54.9 | 86.9 | (46.2 | ) | 195 | ||||||||||||||||||||
Acquisition and integration costs | — | 4.8 | — | 1.3 | 1.3 | — | 6.1 | |||||||||||||||||||||
Amortization of intangible assets | — | 0.7 | 102.3 | 71.6 | 173.9 | — | 174.6 | |||||||||||||||||||||
Total operating expenses | 1,507.50 | 680 | 5,537.30 | 3,298.90 | 8,836.20 | (2,123.4 | ) | 8,900.30 | ||||||||||||||||||||
Income/(loss) from operations | (1,507.5 | ) | (556.9 | ) | (535.3 | ) | 361.2 | (174.1 | ) | 1,918.60 | (319.9 | ) | ||||||||||||||||
Interest expense | (1.0 | ) | (1,934.2 | ) | (55.5 | ) | (336.6 | ) | (392.1 | ) | 227 | (2,100.3 | ) | |||||||||||||||
Gains on early extinguishments of debt | — | — | — | 136 | 136 | — | 136 | |||||||||||||||||||||
Other income, including interest income | 18.3 | 79.2 | 21.2 | 159 | 180.2 | (252.2 | ) | 25.5 | ||||||||||||||||||||
Income/(loss) from continuing operations before income taxes | (1,490.2 | ) | (2,411.9 | ) | (569.6 | ) | 319.6 | (250.0 | ) | 1,893.40 | (2,258.7 | ) | ||||||||||||||||
Benefit/(provision) for income taxes | 9.1 | 732 | 174.4 | (88.5 | ) | 85.9 | 43.5 | 870.5 | ||||||||||||||||||||
Income/(loss)from continuing operations, net of income taxes | (1,481.1 | ) | (1,679.9 | ) | (395.2 | ) | 231.1 | (164.1 | ) | 1,936.90 | (1,388.2 | ) | ||||||||||||||||
Discontinued operations | ||||||||||||||||||||||||||||
Income/(loss) from discontinued operations | — | — | 62.1 | (126.6 | ) | (64.5 | ) | — | (64.5 | ) | ||||||||||||||||||
Benefit/(provision) for income taxes | — | — | (29.1 | ) | 13.7 | (15.4 | ) | (34.7 | ) | (50.1 | ) | |||||||||||||||||
Income/(loss) from discontinued operations, net of income taxes | — | — | 33 | (112.9 | ) | (79.9 | ) | (34.7 | ) | (114.6 | ) | |||||||||||||||||
Net income/(loss) | (1,481.1 | ) | (1,679.9 | ) | (362.2 | ) | 118.2 | (244.0 | ) | 1,902.20 | (1,502.8 | ) | ||||||||||||||||
Less: net income attributable to noncontrolling interests | — | — | — | (5.3 | ) | (5.3 | ) | — | (5.3 | ) | ||||||||||||||||||
Net income/(loss) attributable to Caesars | (1,481.1 | ) | (1,679.9 | ) | (362.2 | ) | 112.9 | (249.3 | ) | 1,902.20 | (1,508.1 | ) | ||||||||||||||||
Other comprehensive income/(loss), net of income taxes: | ||||||||||||||||||||||||||||
Total other comprehensive income/(loss), net of income taxes | — | (25.0 | ) | — | (34.4 | ) | (34.4 | ) | 96.6 | 37.2 | ||||||||||||||||||
Less: foreign currency translation adjustments attributable to noncontrolling interests, net of income taxes | — | — | — | (1.1 | ) | (1.1 | ) | — | (1.1 | ) | ||||||||||||||||||
Comprehensive income/(loss) attributable to Caesars | $ | (1,481.1 | ) | $ | (1,704.9 | ) | $ | (362.2 | ) | $ | 77.4 | $ | (284.8 | ) | $ | 1,998.80 | $ | (1,472.0 | ) | |||||||||
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) | ||||||||||||||||||||||||||||
FOR THE YEAR ENDED DECEMBER 31, 2011 | ||||||||||||||||||||||||||||
(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 | $ | — | $ | 62.6 | $ | 3,952.20 | $ | 2,375.10 | $ | 6,327.30 | $ | — | $ | 6,389.90 | ||||||||||||||
Food and beverage | — | 14.2 | 820.7 | 671.2 | 1,491.90 | — | 1,506.10 | |||||||||||||||||||||
Rooms | — | 16.7 | 605.8 | 570.6 | 1,176.40 | — | 1,193.10 | |||||||||||||||||||||
Management fees | — | — | 66.1 | 3 | 69.1 | (33.3 | ) | 35.8 | ||||||||||||||||||||
Other | — | 46.5 | 353.1 | 393 | 746.1 | (145.5 | ) | 647.1 | ||||||||||||||||||||
Reimbursed management costs | — | — | 26.9 | — | 26.9 | — | 26.9 | |||||||||||||||||||||
Less: casino promotional allowances | — | (19.0 | ) | (725.6 | ) | (487.7 | ) | (1,213.3 | ) | — | (1,232.3 | ) | ||||||||||||||||
Net revenues | — | 121 | 5,099.20 | 3,525.20 | 8,624.40 | (178.8 | ) | 8,566.60 | ||||||||||||||||||||
Operating expenses | ||||||||||||||||||||||||||||
Direct | ||||||||||||||||||||||||||||
Casino | — | 40.9 | 2,243.80 | 1,330.50 | 3,574.30 | — | 3,615.20 | |||||||||||||||||||||
Food and beverage | — | 6.7 | 337.8 | 312.5 | 650.3 | — | 657 | |||||||||||||||||||||
Rooms | — | 2 | 133.3 | 150.9 | 284.2 | — | 286.2 | |||||||||||||||||||||
Property, general, administrative, and other | — | 54.2 | 1,208.80 | 971 | 2,179.80 | (140.5 | ) | 2,093.50 | ||||||||||||||||||||
Reimbursable management costs | — | — | 26.9 | — | 26.9 | — | 26.9 | |||||||||||||||||||||
Depreciation and amortization | — | 6.8 | 427.5 | 242.7 | 670.2 | — | 677 | |||||||||||||||||||||
Write-downs, reserves, and project opening costs, net of recoveries | — | 46.6 | 24.6 | 2.6 | 27.2 | — | 73.8 | |||||||||||||||||||||
Impairment of intangible and tangible assets | — | — | 11 | 21.8 | 32.8 | — | 32.8 | |||||||||||||||||||||
Loss on interests in non-consolidated affiliates | — | — | 1.8 | 6.1 | 7.9 | — | 7.9 | |||||||||||||||||||||
(Income)/loss on interests in subsidiaries | 693.4 | (421.9 | ) | (44.7 | ) | — | (44.7 | ) | (226.8 | ) | — | |||||||||||||||||
Corporate expense | 22.7 | 98.4 | 22.3 | 47.7 | 70 | (38.3 | ) | 152.8 | ||||||||||||||||||||
Acquisition and integration costs | 0.1 | 1 | 1.1 | 2.1 | 3.2 | — | 4.3 | |||||||||||||||||||||
Amortization of intangible assets | — | 0.7 | 93.6 | 62.4 | 156 | — | 156.7 | |||||||||||||||||||||
Total operating expenses | 716.2 | (164.6 | ) | 4,487.80 | 3,150.30 | 7,638.10 | (405.6 | ) | 7,784.10 | |||||||||||||||||||
Income/(loss) from operations | (716.2 | ) | 285.6 | 611.4 | 374.9 | 986.3 | 226.8 | 782.5 | ||||||||||||||||||||
Interest expense | — | (1,953.3 | ) | (50.2 | ) | (328.0 | ) | (378.2 | ) | 209.8 | (2,121.7 | ) | ||||||||||||||||
Gains on early extinguishments of debt | — | — | — | 47.9 | 47.9 | — | 47.9 | |||||||||||||||||||||
Other income, including interest income | 25.5 | 70.7 | 17.6 | 134.2 | 151.8 | (222.7 | ) | 25.3 | ||||||||||||||||||||
Income/(loss) from continuing operations before income taxes | (690.7 | ) | (1,597.0 | ) | 578.8 | 229 | 807.8 | 213.9 | (1,266.0 | ) | ||||||||||||||||||
Benefit/(provision) for income taxes | 3.1 | 776.8 | (215.3 | ) | (46.1 | ) | (261.4 | ) | 16.1 | 534.6 | ||||||||||||||||||
Income/(loss) from continuing operations, net of income taxes | (687.6 | ) | (820.2 | ) | 363.5 | 182.9 | 546.4 | 230 | (731.4 | ) | ||||||||||||||||||
Discontinued operations | ||||||||||||||||||||||||||||
Income/(loss) from discontinued operations | — | — | 75.3 | (20.2 | ) | 55.1 | — | 55.1 | ||||||||||||||||||||
Benefit/(provision) for income taxes | — | — | (13.4 | ) | 1.7 | (11.7 | ) | (16.1 | ) | (27.8 | ) | |||||||||||||||||
Income/(loss) from discontinued operations, net of income taxes | — | — | 61.9 | (18.5 | ) | 43.4 | (16.1 | ) | 27.3 | |||||||||||||||||||
Net income/(loss) | (687.6 | ) | (820.2 | ) | 425.4 | 164.4 | 589.8 | 213.9 | (704.1 | ) | ||||||||||||||||||
Less: net income attributable to noncontrolling interests | — | — | — | (20.9 | ) | (20.9 | ) | — | (20.9 | ) | ||||||||||||||||||
Net income/(loss) attributable to Caesars | (687.6 | ) | (820.2 | ) | 425.4 | 143.5 | 568.9 | 213.9 | (725.0 | ) | ||||||||||||||||||
Other comprehensive income/(loss), net of income taxes: | ||||||||||||||||||||||||||||
Total other comprehensive income/(loss), net of income taxes | — | 112.9 | — | (1.8 | ) | (1.8 | ) | — | 111.1 | |||||||||||||||||||
Less: foreign currency translation adjustments attributable to noncontrolling interests, net of income taxes | — | — | — | (1.3 | ) | (1.3 | ) | — | (1.3 | ) | ||||||||||||||||||
Comprehensive income/(loss) attributable to Caesars | $ | (687.6 | ) | $ | (707.3 | ) | $ | 425.4 | $ | 140.4 | $ | 565.8 | $ | 213.9 | $ | (615.2 | ) | |||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | ||||||||||||||||||||||||||||
FOR THE YEAR ENDED DECEMBER 31, 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 from operating activities | $ | 407.9 | $ | (906.6 | ) | $ | 330 | $ | 52.2 | $ | 382.2 | $ | 7.1 | $ | (109.4 | ) | ||||||||||||
Cash flows from investing activities | ||||||||||||||||||||||||||||
Acquisitions of property and equipment, net of change in related payables | — | (18.7 | ) | (376.5 | ) | (331.1 | ) | (707.6 | ) | — | (726.3 | ) | ||||||||||||||||
Change in restricted cash | (50.5 | ) | — | (1.0 | ) | 825.4 | 824.4 | — | 773.9 | |||||||||||||||||||
Purchase of additional interest in subsidiaries | (581.2 | ) | (15.8 | ) | — | — | — | 597 | — | |||||||||||||||||||
Purchase of Linq/Octavius from non-guarantor | (80.7 | ) | — | — | 80.7 | 80.7 | — | — | ||||||||||||||||||||
Proceeds from partial sale of subsidiary, net of cash deconsolidated | — | — | (25.7 | ) | 76.1 | 50.4 | — | 50.4 | ||||||||||||||||||||
Payments to acquire businesses, net of transaction costs and cash acquired | — | — | — | (19.5 | ) | (19.5 | ) | — | (19.5 | ) | ||||||||||||||||||
Investments in/advances to non-consolidated affiliates and other | — | — | — | (38.6 | ) | (38.6 | ) | — | (38.6 | ) | ||||||||||||||||||
Dividends received | — | 831 | 74.2 | — | 74.2 | (905.2 | ) | — | ||||||||||||||||||||
Purchases of investment securities | — | — | — | (30.0 | ) | (30.0 | ) | — | (30.0 | ) | ||||||||||||||||||
Proceeds from the sale and maturity of investment securities | — | — | — | 67.4 | 67.4 | — | 67.4 | |||||||||||||||||||||
Proceeds received from (paid for) sale of assets | (29.0 | ) | 29 | — | — | — | — | — | ||||||||||||||||||||
Other | (0.4 | ) | — | (8.9 | ) | (3.2 | ) | (12.1 | ) | — | (12.5 | ) | ||||||||||||||||
Cash flows from investing activities | (741.8 | ) | 825.5 | (337.9 | ) | 627.2 | 289.3 | (308.2 | ) | 64.8 | ||||||||||||||||||
Cash flows from financing activities | ||||||||||||||||||||||||||||
Proceeds from the issuance of long-term debt | — | 127.2 | — | 5,911.50 | 5,911.50 | — | 6,038.70 | |||||||||||||||||||||
Assumption of debt issued by non-guarantors | — | 2,199.40 | — | (2,199.4 | ) | (2,199.4 | ) | — | — | |||||||||||||||||||
Debt issuance and extension costs and fees | — | (52.2 | ) | — | (100.6 | ) | (100.6 | ) | — | (152.8 | ) | |||||||||||||||||
Cash paid for early extinguishments of debt | — | (1,783.3 | ) | — | (4,728.8 | ) | (4,728.8 | ) | — | (6,512.1 | ) | |||||||||||||||||
Scheduled debt retirements | — | (91.3 | ) | (1.5 | ) | — | (1.5 | ) | — | (92.8 | ) | |||||||||||||||||
Dividends paid | — | — | (48.4 | ) | (856.8 | ) | (905.2 | ) | 905.2 | — | ||||||||||||||||||
Purchase of additional interests in subsidiaries | — | — | — | (10.0 | ) | (10.0 | ) | — | (10.0 | ) | ||||||||||||||||||
Sales of noncontrolling interests, net of fees | — | — | — | 1,197.50 | 1,197.50 | — | 1,197.50 | |||||||||||||||||||||
Distributions to noncontrolling interest owners | — | — | — | (19.9 | ) | (19.9 | ) | — | (19.9 | ) | ||||||||||||||||||
Issuance of common stock, net of fees | 217.2 | — | — | — | — | — | 217.2 | |||||||||||||||||||||
Other | — | — | (8.2 | ) | (6.5 | ) | (14.7 | ) | — | (14.7 | ) | |||||||||||||||||
Transfer (to)/from affiliates | 222.6 | (234.2 | ) | 6.3 | 609.4 | 615.7 | (604.1 | ) | — | |||||||||||||||||||
Cash flows from financing activities | 439.8 | 165.6 | (51.8 | ) | (203.6 | ) | (255.4 | ) | 301.1 | 651.1 | ||||||||||||||||||
Cash flows from discontinued operations | ||||||||||||||||||||||||||||
Cash flows from operating activities | — | — | (0.5 | ) | (8.9 | ) | (9.4 | ) | — | (9.4 | ) | |||||||||||||||||
Cash flows from investing activities | — | — | — | 411.9 | 411.9 | — | 411.9 | |||||||||||||||||||||
Cash flows from financing activities | — | — | — | — | — | — | — | |||||||||||||||||||||
Net cash from discontinued operations | — | — | (0.5 | ) | 403 | 402.5 | — | 402.5 | ||||||||||||||||||||
Net increase/(decrease) in cash and cash equivalents | 105.9 | 84.5 | (60.2 | ) | 878.8 | 818.6 | — | 1,009.00 | ||||||||||||||||||||
Change in cash classified as assets held for sale | — | — | — | 4.7 | 4.7 | — | 4.7 | |||||||||||||||||||||
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 | $ | 113.3 | $ | 996.4 | $ | 293.6 | $ | 1,367.90 | $ | 1,661.50 | $ | — | $ | 2,771.20 | ||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | ||||||||||||||||||||||||||||
FOR THE YEAR ENDED DECEMBER 31, 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 from operating activities | $ | 258.6 | $ | 94.6 | $ | (505.1 | ) | $ | 144.9 | $ | (360.2 | ) | $ | 37.2 | $ | 30.2 | ||||||||||||
Cash flows from investing activities | ||||||||||||||||||||||||||||
Acquisitions of property and equipment, net of change in related payables | — | (9.6 | ) | (205.3 | ) | (292.2 | ) | (497.5 | ) | — | (507.1 | ) | ||||||||||||||||
Change in restricted cash | — | — | — | (680.5 | ) | (680.5 | ) | — | (680.5 | ) | ||||||||||||||||||
Return of investment in subsidiary | — | — | 92.5 | — | 92.5 | (92.5 | ) | — | ||||||||||||||||||||
Purchase of additional interest in subsidiary | (232.5 | ) | (28.1 | ) | — | — | — | 260.6 | — | |||||||||||||||||||
Proceeds from the sale of subsidiary, net of cash contributed | — | — | — | 42.4 | 42.4 | — | 42.4 | |||||||||||||||||||||
Payments to acquire businesses, net of transaction costs and cash acquired | — | — | — | (37.9 | ) | (37.9 | ) | — | (37.9 | ) | ||||||||||||||||||
Investments in/advances to non-consolidated affiliates and other | — | — | — | (28.1 | ) | (28.1 | ) | — | (28.1 | ) | ||||||||||||||||||
Purchases of investment securities | — | — | — | (39.2 | ) | (39.2 | ) | — | (39.2 | ) | ||||||||||||||||||
Proceeds from the sale and maturity of investment securities | — | — | — | 31.6 | 31.6 | — | 31.6 | |||||||||||||||||||||
Other | (0.8 | ) | — | (6.8 | ) | 2.1 | (4.7 | ) | — | (5.5 | ) | |||||||||||||||||
Cash flows from investing activities | (233.3 | ) | (37.7 | ) | (119.6 | ) | (1,001.8 | ) | (1,121.4 | ) | 168.1 | (1,224.3 | ) | |||||||||||||||
Cash flows from financing activities | ||||||||||||||||||||||||||||
Proceeds from the issuance of long-term debt | — | 432.2 | — | 3,277.20 | 3,277.20 | — | 3,709.40 | |||||||||||||||||||||
Assumption of debt issued by non-guarantors | — | 1,981.30 | — | (1,981.3 | ) | (1,981.3 | ) | — | — | |||||||||||||||||||
Debt issuance costs and fees | — | (38.9 | ) | — | (11.7 | ) | (11.7 | ) | — | (50.6 | ) | |||||||||||||||||
Borrowings under lending agreements | — | 453 | — | — | — | — | 453 | |||||||||||||||||||||
Repayments under lending agreements | — | (608.0 | ) | — | — | — | — | (608.0 | ) | |||||||||||||||||||
Cash paid for early extinguishments of debt | — | (1,574.3 | ) | — | (462.3 | ) | (462.3 | ) | — | (2,036.6 | ) | |||||||||||||||||
Scheduled debt retirements | — | (14.4 | ) | (1.4 | ) | — | (1.4 | ) | — | (15.8 | ) | |||||||||||||||||
Purchase of additional interests in subsidiary | — | — | (9.6 | ) | — | (9.6 | ) | — | (9.6 | ) | ||||||||||||||||||
Sale of noncontrolling interests, net of fees | — | — | — | 37.6 | 37.6 | — | 37.6 | |||||||||||||||||||||
Distributions to noncontrolling interest owners | — | — | — | (10.7 | ) | (10.7 | ) | — | (10.7 | ) | ||||||||||||||||||
Issuance of common stock, net of fees | 17.4 | — | — | — | — | — | 17.4 | |||||||||||||||||||||
Other | — | — | (10.8 | ) | (2.7 | ) | (13.5 | ) | — | (13.5 | ) | |||||||||||||||||
Transfer (to)/from affiliates | (39.2 | ) | 207.5 | — | 2.3 | 2.3 | (170.6 | ) | — | |||||||||||||||||||
Cash flows from financing activities | (21.8 | ) | 838.4 | (21.8 | ) | 848.4 | 826.6 | (170.6 | ) | 1,472.60 | ||||||||||||||||||
Cash flows from discontinued operations | ||||||||||||||||||||||||||||
Cash flows from operating activities | — | — | 17.5 | (3.4 | ) | 14.1 | (34.7 | ) | (20.6 | ) | ||||||||||||||||||
Cash flows from investing activities | — | — | 600.3 | (0.6 | ) | 599.7 | — | 599.7 | ||||||||||||||||||||
Cash flows from financing activities | — | — | — | — | — | — | — | |||||||||||||||||||||
Net cash provided by discontinued operations | — | — | 617.8 | (4.0 | ) | 613.8 | (34.7 | ) | 579.1 | |||||||||||||||||||
Net increase/(decrease)in cash and cash equivalents | 3.5 | 895.3 | (28.7 | ) | (12.5 | ) | (41.2 | ) | — | 857.6 | ||||||||||||||||||
Change in cash classified as assets held for sale | — | — | 10 | (1.3 | ) | 8.7 | — | 8.7 | ||||||||||||||||||||
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 | $ | 7.4 | $ | 911.9 | $ | 353.8 | $ | 484.4 | $ | 838.2 | $ | — | $ | 1,757.50 | ||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | ||||||||||||||||||||||||||||
FOR THE YEAR ENDED DECEMBER 31, 2011 | ||||||||||||||||||||||||||||
(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 from operating activities | $ | 182.9 | $ | (507.6 | ) | $ | 72.7 | $ | 298.9 | $ | 371.6 | $ | 16.1 | $ | 63 | |||||||||||||
Cash flows from investing activities | ||||||||||||||||||||||||||||
Acquisitions of property and equipment, net of change in related payables | — | (12.3 | ) | (108.1 | ) | (152.1 | ) | (260.2 | ) | — | (272.5 | ) | ||||||||||||||||
Change in restricted cash | — | — | — | (517.7 | ) | (517.7 | ) | — | (517.7 | ) | ||||||||||||||||||
Purchase of additional interest in subsidiary | — | — | — | (75.4 | ) | (75.4 | ) | — | (75.4 | ) | ||||||||||||||||||
Payments to acquire certain gaming rights | — | — | — | (22.7 | ) | (22.7 | ) | — | (22.7 | ) | ||||||||||||||||||
Payments to acquire businesses, net of transaction costs and cash acquired | (123.5 | ) | (136.7 | ) | (49.1 | ) | (19.0 | ) | (68.1 | ) | 309.3 | (19.0 | ) | |||||||||||||||
Investments in/advances to non-consolidated affiliates and other | — | — | — | (76.0 | ) | (76.0 | ) | — | (76.0 | ) | ||||||||||||||||||
Purchases of investment securities | — | — | — | (35.7 | ) | (35.7 | ) | — | (35.7 | ) | ||||||||||||||||||
Proceeds from the sale and maturity of investment securities | — | — | — | 22.6 | 22.6 | — | 22.6 | |||||||||||||||||||||
Other | — | — | (3.8 | ) | (6.1 | ) | (9.9 | ) | — | (9.9 | ) | |||||||||||||||||
Cash flows from investing activities | (123.5 | ) | (149.0 | ) | (161.0 | ) | (882.1 | ) | (1,043.1 | ) | 309.3 | (1,006.3 | ) | |||||||||||||||
Cash flows from financing activities | ||||||||||||||||||||||||||||
Proceeds from the issuance of long-term debt | — | 418.3 | — | 445.5 | 445.5 | — | 863.8 | |||||||||||||||||||||
Debt issuance costs and fees | — | (3.2 | ) | — | (14.9 | ) | (14.9 | ) | — | (18.1 | ) | |||||||||||||||||
Borrowings under lending agreements | — | 358 | — | — | — | — | 358 | |||||||||||||||||||||
Repayments under lending agreements | — | (203.0 | ) | — | — | — | — | (203.0 | ) | |||||||||||||||||||
Cash paid for early extinguishments of debt | — | — | (2.6 | ) | (125.9 | ) | (128.5 | ) | — | (128.5 | ) | |||||||||||||||||
Scheduled debt retirements | — | (25.2 | ) | — | (18.5 | ) | (18.5 | ) | — | (43.7 | ) | |||||||||||||||||
Sale of noncontrolling interests, net of fees | — | — | — | 14.8 | 14.8 | — | 14.8 | |||||||||||||||||||||
Distributions to noncontrolling interest owners | — | — | — | (9.8 | ) | (9.8 | ) | — | (9.8 | ) | ||||||||||||||||||
Other | (1.7 | ) | — | (8.1 | ) | (12.2 | ) | (20.3 | ) | — | (22.0 | ) | ||||||||||||||||
Transfer (to)/from affiliates | (189.8 | ) | 67.3 | 49.1 | 382.7 | 431.8 | (309.3 | ) | — | |||||||||||||||||||
Cash flows from financing activities | (191.5 | ) | 612.2 | 38.4 | 661.7 | 700.1 | (309.3 | ) | 811.5 | |||||||||||||||||||
Cash flows from discontinued operations | ||||||||||||||||||||||||||||
Cash flows from operating activities | — | — | 79.4 | (3.2 | ) | 76.2 | (16.1 | ) | 60.1 | |||||||||||||||||||
Cash flows from investing activities | — | — | (5.2 | ) | (5.5 | ) | (10.7 | ) | — | (10.7 | ) | |||||||||||||||||
Cash flows from financing activities | — | — | — | — | — | — | — | |||||||||||||||||||||
Net cash provided by discontinued operations | — | — | 74.2 | (8.7 | ) | 65.5 | (16.1 | ) | 49.4 | |||||||||||||||||||
Net increase/(decrease) in cash and cash equivalents | (132.1 | ) | (44.4 | ) | 24.3 | 69.8 | 94.1 | — | (82.4 | ) | ||||||||||||||||||
Change in cash classified as assets held for sale | — | — | 3.5 | (1.0 | ) | 2.5 | — | 2.5 | ||||||||||||||||||||
Cash and cash equivalents, beginning of period | 136 | 61 | 344.7 | 429.4 | 774.1 | — | 971.1 | |||||||||||||||||||||
Cash and cash equivalents, end of period | $ | 3.9 | $ | 16.6 | $ | 372.5 | $ | 498.2 | $ | 870.7 | $ | — | $ | 891.2 | ||||||||||||||
Quarterly_Results_of_Operation
Quarterly Results of Operations (Unaudited) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | |||||||||||||||||||
Quarterly Results of Operations (Unaudited) | ' | |||||||||||||||||||
Quarterly Results of Operations (Unaudited) | ||||||||||||||||||||
(In millions) | First | Second | Third | Fourth | Total | |||||||||||||||
Quarter | Quarter | Quarter | Quarter (1) | |||||||||||||||||
2013 | ||||||||||||||||||||
Net revenues | $ | 2,143.20 | $ | 2,158.20 | $ | 2,180.00 | $ | 2,078.40 | $ | 8,559.70 | ||||||||||
Income/(loss) from operations (2) | 141.8 | 125.3 | (637.5 | ) | (1,864.2 | ) | (2,234.6 | ) | ||||||||||||
Net loss (2) | (216.7 | ) | (209.2 | ) | (761.8 | ) | (1,752.0 | ) | (2,939.8 | ) | ||||||||||
Net loss attributable to Caesars (2) | (217.6 | ) | (212.2 | ) | (761.4 | ) | (1,756.9 | ) | (2,948.2 | ) | ||||||||||
Loss per share - basic and diluted | (1.74 | ) | (1.69 | ) | (6.03 | ) | (12.83 | ) | (22.93 | ) | ||||||||||
2012 | ||||||||||||||||||||
Net revenues | $ | 2,206.10 | $ | 2,163.70 | $ | 2,195.80 | $ | 2,014.90 | $ | 8,580.40 | ||||||||||
Income/(loss) from operations (2) | 61.3 | 189.1 | (216.8 | ) | (353.4 | ) | (319.9 | ) | ||||||||||||
Net loss (2) | (281.1 | ) | (241.8 | ) | (503.4 | ) | (476.5 | ) | (1,502.8 | ) | ||||||||||
Net loss attributable to Caesars (2) | (280.6 | ) | (241.7 | ) | (505.5 | ) | (480.3 | ) | (1,508.1 | ) | ||||||||||
Loss per share - basic and diluted | (2.24 | ) | (1.93 | ) | (4.03 | ) | (3.84 | ) | (12.04 | ) | ||||||||||
____________________ | ||||||||||||||||||||
(1) | Amounts presented for the fourth quarter of 2012 have been recast to give effect to the Alea Leeds disposition (Note 4) and the pension accounting change (Note 21). In addition, the Company sold additional shares of common stock (Note 11), which had a material effect on the weighted average shares used in determining loss per share for the quarter. The table below recasts the amounts as originally presented in our 2012 Annual Report on Form 10-K. | |||||||||||||||||||
(2) | Amounts presented contain material impairments which affect the comparability from period to period. For more information on these impairments, see Notes 6 and 7. | |||||||||||||||||||
Fourth Quarter | ||||||||||||||||||||
(In millions) | 2012 | |||||||||||||||||||
Net revenues as reported | $ | 2,016.80 | ||||||||||||||||||
Less net revenues attributable to discontinued operations | (2.0 | ) | ||||||||||||||||||
Net revenues as recasted | $ | 2,014.90 | ||||||||||||||||||
Loss from operations as reported | $ | (343.6 | ) | |||||||||||||||||
Effect of pension accounting change (Note 21) | (10.6 | ) | ||||||||||||||||||
Less: loss from operations attributable to discontinued operations | 0.7 | |||||||||||||||||||
Loss from operations as recasted | $ | (353.4 | ) |
Schedule_I_Notes
Schedule I (Notes) (Parent Company [Member]) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Parent Company [Member] | ' | |||||||||||
Condensed Financial Statements, Captions [Line Items] | ' | |||||||||||
CONDENSED FINANCIAL INFORMATION OF REGISTRANT | ' | |||||||||||
CONDENSED FINANCIAL INFORMATION OF REGISTRANT PARENT COMPANY ONLY | ||||||||||||
CAESARS ENTERTAINMENT CORPORATION | ||||||||||||
CONDENSED BALANCE SHEETS | ||||||||||||
(In millions) | ||||||||||||
As of December 31, | ||||||||||||
2013 | 2012 | |||||||||||
Assets | ||||||||||||
Current assets | ||||||||||||
Cash and cash equivalents | $ | 113.3 | $ | 7.4 | ||||||||
Restricted cash | 30.5 | — | ||||||||||
Receivables, net | 0.1 | 0.1 | ||||||||||
Prepayments and other current assets | — | 5 | ||||||||||
Intercompany receivables | 0.8 | 29.6 | ||||||||||
Total current assets | 144.7 | 42.1 | ||||||||||
Investments in subsidiaries | — | — | ||||||||||
Restricted cash | 20 | — | ||||||||||
Deferred charges and other | 1 | 7.5 | ||||||||||
Deferred income taxes | 7.8 | — | ||||||||||
Intercompany receivables | 340.5 | 563.1 | ||||||||||
Total assets | $ | 514 | $ | 612.7 | ||||||||
Liabilities and Stockholders’ Equity/(Deficit) | ||||||||||||
Current liabilities | ||||||||||||
Accounts payable | $ | 0.3 | $ | 3.9 | ||||||||
Accrued expenses | 3.8 | 3.7 | ||||||||||
Deferred income taxes | — | — | ||||||||||
Intercompany payables | 5.3 | 15.9 | ||||||||||
Total current liabilities | 9.4 | 23.5 | ||||||||||
Accumulated losses of subsidiaries in excess of investment | 3,582.10 | 925.4 | ||||||||||
Deferred credits and other | — | 4.1 | ||||||||||
Deferred income taxes | — | — | ||||||||||
Intercompany payables | 55 | 55 | ||||||||||
Total liabilities | 3,646.50 | 1,008.00 | ||||||||||
Total stockholders’ equity/(deficit) | (3,132.5 | ) | (395.3 | ) | ||||||||
Total liabilities and stockholders' equity(deficit) | $ | 514 | $ | 612.7 | ||||||||
CONDENSED FINANCIAL INFORMATION OF REGISTRANT PARENT COMPANY ONLY | ||||||||||||
CAESARS ENTERTAINMENT CORPORATION | ||||||||||||
CONDENSED STATEMENT OF COMPREHENSIVE LOSS | ||||||||||||
(In millions) | ||||||||||||
Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Net revenues | $ | — | $ | — | $ | — | ||||||
Operating expenses | ||||||||||||
Write-downs, reserves, and project opening costs, net of recoveries | — | 15 | — | |||||||||
Loss on interests in non-consolidated affiliates | (0.4 | ) | — | — | ||||||||
Loss on interests in subsidiaries | 2,923.00 | 1,464.30 | 693.4 | |||||||||
Corporate expense | 16 | 28.2 | 22.7 | |||||||||
Acquisition and integration costs | — | — | 0.1 | |||||||||
Total operating expenses | 2,938.60 | 1,507.50 | 716.2 | |||||||||
Loss from operations | (2,938.6 | ) | (1,507.5 | ) | (716.2 | ) | ||||||
Interest expense | 2.3 | (1.0 | ) | — | ||||||||
Other income, including interest income | 23.1 | 18.3 | 25.5 | |||||||||
Loss from operations before income taxes | (2,913.2 | ) | (1,490.2 | ) | (690.7 | ) | ||||||
Benefit for income taxes | (0.1 | ) | 9.1 | 3.1 | ||||||||
Net loss | (2,913.3 | ) | (1,481.1 | ) | (687.6 | ) | ||||||
Other comprehensive income/(loss), net of income taxes | — | — | — | |||||||||
Comprehensive loss | $ | (2,913.3 | ) | $ | (1,481.1 | ) | $ | (687.6 | ) | |||
CONDENSED FINANCIAL INFORMATION OF REGISTRANT PARENT COMPANY ONLY | ||||||||||||
CAESARS ENTERTAINMENT CORPORATION | ||||||||||||
CONDENSED STATEMENT OF CASH FLOWS | ||||||||||||
(In millions) | ||||||||||||
Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Cash flows from operating activities | $ | 407.9 | $ | 258.6 | $ | 182.9 | ||||||
Cash flows from investing activities | ||||||||||||
Change in restricted cash | (50.5 | ) | — | — | ||||||||
Payments to acquire businesses, net of transaction costs and cash acquired | — | — | (123.5 | ) | ||||||||
Purchase of additional interest in subsidiary | (581.2 | ) | (232.5 | ) | — | |||||||
Purchase of Linq/Octavius from non-guarantor | (80.7 | ) | — | — | ||||||||
Proceeds paid for sale of assets | (29.0 | ) | — | — | ||||||||
Other | (0.4 | ) | (0.8 | ) | — | |||||||
Cash flows used in investing activities | (741.8 | ) | (233.3 | ) | (123.5 | ) | ||||||
Cash flows from financing activities | ||||||||||||
Issuance of common stock, net of fees | 217.2 | 17.4 | — | |||||||||
Other | — | — | (1.7 | ) | ||||||||
Transfer to affiliates | 222.6 | (39.2 | ) | (189.8 | ) | |||||||
Cash flows provided by financing activities | 439.8 | (21.8 | ) | (191.5 | ) | |||||||
Net increase/(decrease) in cash and cash equivalents | 105.9 | 3.5 | (132.1 | ) | ||||||||
Cash and cash equivalents, beginning of period | 7.4 | 3.9 | 136 | |||||||||
Cash and cash equivalents, end of period | $ | 113.3 | $ | 7.4 | $ | 3.9 | ||||||
CONDENSED FINANCIAL INFORMATION OF REGISTRANT PARENT COMPANY ONLY | ||||||||||||
CAESARS ENTERTAINMENT CORPORATION | ||||||||||||
NOTES TO CONDENSED FINANCIAL INFORMATION | ||||||||||||
1 | Background and basis of presentation | |||||||||||
These condensed parent company financial statements have been prepared in accordance with Rule 12-04, Schedule 1 of Regulation S-X, as the restricted net assets of Caesars Entertainment Corporation and its subsidiaries exceed 25% of the consolidated net assets of Caesars Entertainment Corporation and its subsidiaries (the "Company"). This information should be read in conjunction with the company's consolidated financial statements included elsewhere in this filing. | ||||||||||||
2 | Restricted net assets of subsidiaries | |||||||||||
Certain of the Company's subsidiaries have restrictions on their ability to pay dividends or make intercompany loans and advances pursuant to financing arrangements and regulatory restrictions. The amount of restricted net assets the Company's consolidated subsidiaries held at December 31, 2013 and 2012 was approximately $3.0 billion and $1.2 billion, respectively. Such restrictions are on net assets of Caesars Entertainment Corporation and its subsidiaries. The amount of restricted net assets in the Company's unconsolidated subsidiaries was not material to the financial statements. | ||||||||||||
3 | Commitments, contingencies and long-term obligations | |||||||||||
For a discussion of the Company's commitments, contingencies and long term obligations under its senior secured credit facility, see Note 9, "Debt" and Note 17, "Litigation, Contractual Commitments and Contingent Liabilities" of the Company's consolidated financial statements. | ||||||||||||
Background and basis of presentation | ' | |||||||||||
Background and basis of presentation | ||||||||||||
These condensed parent company financial statements have been prepared in accordance with Rule 12-04, Schedule 1 of Regulation S-X, as the restricted net assets of Caesars Entertainment Corporation and its subsidiaries exceed 25% of the consolidated net assets of Caesars Entertainment Corporation and its subsidiaries (the "Company"). This information should be read in conjunction with the company's consolidated financial statements included elsewhere in this filing. | ||||||||||||
Restricted net assets of subsidiaries | ' | |||||||||||
Restricted net assets of subsidiaries | ||||||||||||
Certain of the Company's subsidiaries have restrictions on their ability to pay dividends or make intercompany loans and advances pursuant to financing arrangements and regulatory restrictions. The amount of restricted net assets the Company's consolidated subsidiaries held at December 31, 2013 and 2012 was approximately $3.0 billion and $1.2 billion, respectively. Such restrictions are on net assets of Caesars Entertainment Corporation and its subsidiaries. The amount of restricted net assets in the Company's unconsolidated subsidiaries was not material to the financial statements. | ||||||||||||
Commitments, contingencies and long-term obligations | ' | |||||||||||
Commitments, contingencies and long-term obligations | ||||||||||||
For a discussion of the Company's commitments, contingencies and long term obligations under its senior secured credit facility, see Note 9, "Debt" and Note 17, "Litigation, Contractual Commitments and Contingent Liabilities" of the Company's consolidated financial statements. |
Schedule_II_Notes
Schedule II (Notes) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | ' | |||||||||||||||||||
CONSOLIDATED VALUATION AND QUALIFYING ACCOUNTS | ' | |||||||||||||||||||
CAESARS ENTERTAINMENT CORPORATION | ||||||||||||||||||||
CONSOLIDATED VALUATION AND QUALIFYING ACCOUNTS | ||||||||||||||||||||
(In millions) | ||||||||||||||||||||
Additions | ||||||||||||||||||||
Charged | ||||||||||||||||||||
Balance at | to Costs | Charged | Deductions | Balance | ||||||||||||||||
Beginning | and | to Other | from | at End | ||||||||||||||||
Description | of Period | Expenses | Accounts | Reserves | of Period | |||||||||||||||
YEAR ENDED DECEMBER 31, 2013 | ||||||||||||||||||||
Allowance for doubtful accounts | ||||||||||||||||||||
Current | $ | 201.7 | $ | 29.1 | $ | — | $ | (68.8 | ) | (a) | $ | 162 | ||||||||
Long-term | $ | 0.1 | $ | — | $ | — | $ | — | $ | 0.1 | ||||||||||
Liability to sellers under acquisition agreement (b) | $ | 1 | $ | — | $ | — | $ | (0.1 | ) | $ | 0.9 | |||||||||
YEAR ENDED DECEMBER 31, 2012 | ||||||||||||||||||||
Allowance for doubtful accounts | ||||||||||||||||||||
Current | $ | 202.2 | $ | 66.7 | $ | — | $ | (67.2 | ) | (a) | $ | 201.7 | ||||||||
Long-term | $ | 0.3 | $ | — | $ | — | $ | (0.2 | ) | $ | 0.1 | |||||||||
Liability to sellers under acquisition agreement (b) | $ | 1.1 | $ | — | $ | — | $ | (0.1 | ) | $ | 1 | |||||||||
YEAR ENDED DECEMBER 31, 2011 | ||||||||||||||||||||
Allowance for doubtful accounts | ||||||||||||||||||||
Current | $ | 216.2 | $ | 49.3 | $ | — | $ | (63.3 | ) | (a) | $ | 202.2 | ||||||||
Long-term | $ | 0.3 | $ | — | $ | — | $ | — | $ | 0.3 | ||||||||||
Liability to sellers under acquisition agreement (b) | $ | 1.2 | $ | — | $ | — | $ | (0.1 | ) | $ | 1.1 | |||||||||
____________________ | ||||||||||||||||||||
(a) | Uncollectible accounts written off, net of amounts recovered. | |||||||||||||||||||
(b) | We acquired Players International, Inc., ("Players") in March 2000. In 1995, Players acquired a hotel and land adjacent to its riverboat gaming facility in Lake Charles, Louisiana, for cash plus future payments to the seller based on the number of passengers boarding the riverboat casinos during a defined term. In accordance with the guidance provided by ASC Topic 805 regarding the recognition of liabilities assumed in a business combination accounted for as a purchase, Players estimated the net present value of the future payments to be made to the sellers and recorded that amount as a component of the total consideration paid to acquire these assets. Our recording of this liability in connection with the purchase price allocation process following the Players acquisition was originally reported in 2000. Our casino operations in Lake Charles sustained significant damage in late third quarter 2005 as a result of Hurricane Rita. As a result of hurricane damage, and upon the Company’s subsequent decision to scale back operations in Lake Charles and ultimately sell the property, the current and long-term portions of this obligation were written down in fourth quarter 2005; the credit was included in Discontinued operations on our Consolidated Statements of Comprehensive Loss. We sold Harrah’s Lake Charles in fourth quarter 2006. Prior to the sale, the current and long-term portions of this obligation were included in Liabilities held for sale on our Consolidated Balance Sheets. The remaining long-term portion of this liability is included in Deferred credits and other on our Consolidated Balance Sheets; the current portion of this obligation is included in Accrued expenses on our Consolidated Balance Sheets. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | |
Dec. 31, 2013 | ||
Accounting Policies [Abstract] | ' | |
Basis of Presentation and Use of Estimates | ' | |
Basis of Presentation and Use of Estimates | ||
Our consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States ("GAAP"), which require the use of estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities. Actual amounts could differ from those estimates. | ||
Certain prior year amounts have been reclassified to conform to the current year's presentation. | ||
As described in Note 21, "Employee Benefit Plans," in the fourth quarter of 2013, we elected to change our method of accounting for actuarial gains and losses for our pension plan in the United Kingdom to a more preferable method permitted under GAAP. We believe this change was preferable because it will result in a method of amortization of gains and losses that accelerates recognition of such gains and losses into net income for events that have already occurred. We have applied this change in accounting principle retrospectively. In addition, we made other immaterial corrections to the accounting for the pension plan. | ||
Principles of Consolidation | ' | |
Principles of Consolidation | ||
Our consolidated financial statements include the accounts of Caesars Entertainment and its subsidiaries after elimination of all intercompany accounts and transactions. | ||
Noncontrolling Interest and Earnings from Consolidated VIE | ' | |
We consolidate into our financial statements the accounts of all 100% owned subsidiaries, partially-owned subsidiaries that we control and VIEs for which we are the primary beneficiary (See Note 2). Control generally equates to ownership percentage, (1) whereby affiliates that are more than 50% owned are consolidated; (2) investments in affiliates of 50% or less but greater than 20% are generally accounted for using the equity method; and (3) investments in affiliates of 20% or less are generally accounted for using the cost method. | ||
Variable Interest Entities | ||
We consolidate a VIE when we have both the power to direct the activities that most significantly impact the results of the VIE and the right to receive benefits or the obligation to absorb losses of the entity that could be potentially significant to the VIE. For VIEs that are under common control with affiliates, in lieu of an assessment of the power to direct the activities that most significantly impact the results of the VIE, we may be required to assess a number of other factors to determine the consolidating entity, including the following: (i) the closeness of the association that the VIE has with the businesses of the affiliated entities, (ii) the entity from which the VIE obtained its assets; (iii) the nature of ongoing management and other agreements; and (iv) the obligation to absorb losses and the right to receive residual returns that could potentially be significant to the VIE. Along with the VIEs that are consolidated in accordance with the above guidelines, we also hold variable interests in other VIEs that are not consolidated because we are not the primary beneficiary. We continually monitor both consolidated and non-consolidated VIEs to determine if any events have occurred that could cause the primary beneficiary to change. | ||
Noncontrolling Interest and Earnings from Consolidated VIE | ||
We account for the noncontrolling interest in our consolidated VIE, CGP LLC, using the hypothetical liquidation at book value (“HLBV”) method to attribute the earnings and losses of CGP LLC between the controlling and noncontrolling interest. Under this method, the noncontrolling interest in the CGP LLC entity is based upon the noncontrolling interest holders' contractual claims on CGP LLC’s accounting balance sheet pursuant to the mandatory liquidation provisions of the operating agreement. Under this approach, the income or loss that represents our noncontrolling interest holders' net income is associated with the increase or decrease in the noncontrolling interest holders' contractual claims on CGP LLC’s balance sheet assuming a hypothetical liquidation at the end of that reporting period when compared with their claims on CGP LLC’s balance sheet assuming a hypothetical liquidation at the beginning of that reporting period, after removing any contributions or distributions. Caesars' resulting net income from the controlling interest is the residual net income from the consolidation of the VIE less the HLBV calculated net income attributable to the noncontrolling interest holder. Due to certain mandatory liquidation provisions of the operating agreement, this could result in a net loss to Caesars consolidated results in periods in which CGP LLC reports net income. | ||
Cash and Cash Equivalents | ' | |
Cash and Cash Equivalents | ||
Cash equivalents are highly liquid investments with original maturities of three months or less from the date of purchase and are stated at the lower of cost or market value. | ||
Restricted Cash | ' | |
Restricted Cash | ||
As of December 31, 2013 and 2012, we had $424.3 million and $1,198.2 million of restricted cash, respectively, comprised of current and non-current portions. Proceeds from bond offerings that are in escrow prior to closing and cash reserved under loan agreements for (a) development projects and (b) certain expenditures incurred in the normal course of business, such as interest services, real estate taxes, casualty insurance, and capital improvements, are classified as restricted cash. The current portion is primarily comprised of amounts related to interest payments on outstanding debt, and the non-current portion primarily represents funds reserved for ongoing development projects. | ||
Receivables | ' | |
Receivables | ||
We issue credit to approved casino customers following background checks and investigations of creditworthiness. Business or economic conditions or other significant events could affect the collectibility of these receivables. | ||
Accounts receivable are typically non-interest bearing and are initially recorded at cost. Accounts are written off when management deems the account to be uncollectible. Recoveries of accounts previously written off are recorded when received. We reserve an estimated amount for gaming receivables that may not be collected to reduce receivables to their net carrying amount. Methodologies for estimating the allowance for doubtful accounts range from specific reserves to various percentages applied to aged receivables. Historical collection rates are considered, as are customer relationships, in determining specific reserves. | ||
Casino Reinvestment Development Authority Investment (CRDA) Obligations | ' | |
Casino Reinvestment Development Authority Investment ("CRDA") Obligations | ||
The New Jersey Casino Control Act provides, among other things, for an assessment of licenses equal to 1.25% of gross gaming revenues in lieu of an investment alternative tax equal to 2.5% of gross gaming revenues. The Company may satisfy this investment obligation by investing in qualified eligible direct investments, by making qualified contributions, or by depositing funds with the CRDA. Funds deposited with the CRDA may be used to purchase bonds designated by the CRDA or, under certain circumstances, may be donated to the CRDA in exchange for credits against future CRDA investment obligations. We record an allowance for funds deposited to reduce the deposits to their expected eventual realizable value. | ||
Long-Lived Assets | ' | |
Long-Lived Assets | ||
We have significant capital invested in our long-lived assets, and judgments are made in determining their estimated useful lives and salvage values and if or when an asset (or asset group) has been impaired. The accuracy of these estimates affects the amount of depreciation and amortization expense recognized in our financial results and whether we have a gain or loss on the disposal of an asset. We assign lives to our assets based on our standard policy, which is established by management as representative of the useful life of each category of asset. | ||
We review the carrying value of our long-lived assets whenever events and 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. We typically estimate the fair value of assets starting with a "Replacement Cost New" approach and then deduct appropriate amounts for both functional and economic obsolescence to arrive at the fair value estimates. Other factors considered by management in performing this assessment may include current operating results, trends, prospects, and third-party appraisals, as well as the effect of demand, competition, and other economic, legal, and regulatory factors. In estimating expected future cash flows for determining whether an asset is impaired, assets are grouped at the lowest level of identifiable cash flows, which, for most of our assets, is the individual property. These analyses are sensitive to management assumptions and the estimates of the obsolescence factors. Changes in these assumptions and estimates could have a material impact on the analyses and the consolidated financial statements. | ||
Additions to property and equipment are stated at cost. We capitalize the costs of improvements that extend the life of the asset. We expense maintenance and repair costs as incurred. Gains or losses on the dispositions of property and equipment are recognized in the period of disposal. 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. Interest capitalized was $37.8 million and $38.2 million for the years ended December 31, 2013 and 2012, respectively. | ||
Depreciation is calculated using the straight-line method over the shorter of the estimated useful life of the asset or the related lease as follows: | ||
Useful Lives | ||
Land improvements | 12 years | |
Buildings | 30 to 40 years | |
Leasehold improvements | 5 to 15 years | |
Riverboats and barges | 30 years | |
Furniture, fixtures, and equipment | 2.5 to 20 years | |
Goodwill and Other Non-Amortizing Intangible Assets | ' | |
Goodwill and Other Non-Amortizing Intangible Assets | ||
The purchase price of an acquisition is allocated to the underlying assets acquired and liabilities assumed based upon their estimated fair values at the date of acquisition. We determine the estimated fair values after review and consideration of relevant information including discounted cash flows, quoted market prices, and estimates made by management. To the extent the purchase price exceeds the fair value of the net identifiable tangible and intangible assets acquired and liabilities assumed, such excess is recorded as goodwill. | ||
We have historically performed our annual goodwill impairment assessment as of September 30, and finalized the assessment in the following quarter in some years. In 2013, we performed this September 30 assessment and subsequently changed our testing date to October 1. We believe this change was preferable because it will allow us to take advantage of the additional time and resources available to perform the test. This change was not applied retrospectively as it is impracticable to do so because retrospective application would have required the application of significant estimates and assumptions without the use of hindsight. We did not change our methodology with the change in our testing date. We perform this assessment more frequently if impairment indicators exist. We determine the estimated fair value of each reporting unit based on a combination of earnings before interest, taxes, depreciation and amortization ("EBITDA"), valuation multiples, and 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 evaluate the aggregate fair value of all of our reporting units and other non-operating assets in comparison to our aggregate debt and equity market capitalization at the test date. EBITDA multiples and discounted cash flows are common measures used to value businesses in our industry. | ||
We have historically performed an annual impairment assessment of other non-amortizing intangible assets as of September 30. We have also historically performed an assessment more frequently if impairment indicators exist. In 2013, we performed this September 30 assessment and subsequently changed our testing date to October 1. We did not change our methodology with the change in our testing date. We perform this assessment more frequently if impairment indicators exist. We determine the estimated fair value of our non-amortizing intangible assets by primarily using the "Relief From Royalty Method" and "Excess Earnings Method" under the income approach. | ||
The annual evaluation of goodwill and other non-amortizing intangible assets requires the use of estimates about future operating results, valuation multiples, and discount rates to determine their estimated fair value. Changes in these assumptions can materially affect these estimates. Thus, to the extent gaming volumes deteriorate further in the near future, discount rates increase significantly, or we do not meet our projected performance, we could have additional impairments to record in the future and such impairments could be material. | ||
Debt Discounts or Premiums and Debt Issue Costs | ' | |
Debt Discounts or Premiums and Debt Issue Costs | ||
Debt discounts or premiums and debt issue costs incurred in connection with the issuance of debt are capitalized and amortized to interest expense based on the related debt agreements primarily using the effective interest method. Unamortized discounts or premiums are written off and included in our gain or loss calculations to the extent we retire debt prior to its original maturity date. Unamortized debt issue costs are included in deferred charges and other in our Consolidated Balance Sheets. | ||
Total Rewards Point Liability Program | ' | |
Total Rewards Point Liability Program | ||
Our customer loyalty program, Total Rewards, offers incentives to customers who gamble at all of our casino entertainment facilities located in the U.S. and Canada for on-property entertainment expenses, including gaming, hotel, dining, and retail shopping. Under the program, customers are able to accumulate, or bank, reward credits over time that they may redeem at their discretion under the terms of the program. The reward credit balance will be forfeited if the customer does not earn a reward credit over the prior six-month period. As a result of the ability of the customer to bank the reward credits, we accrue the estimated cost of fulfilling the redemption of reward credits, after consideration of estimated forfeitures (referred to as "breakage"), as they are earned. The estimated value of reward credits is expensed as the reward credits are earned by customers and is included in direct casino expense. To arrive at the estimated cost associated with reward credits, estimates and assumptions are made regarding incremental marginal costs of the benefits, breakage rates, and the mix of goods and services for which reward credits will be redeemed. We use historical data to assist in the determination of estimated accruals. Such amounts are included within accrued expenses. See Note 8, "Detail of Accrued Expenses and Other Current Liabilities." | ||
In addition to reward credits, customers at certain of our properties can earn points based on play that are redeemable in the form of credits playable at the gaming machine. We accrue the cost of redeemable points, after consideration of estimated breakage, as they are earned. The cost is recorded as contra-revenue and is included in casino promotional allowances | ||
Self-Insurance Accruals | ' | |
Self-Insurance Accruals | ||
We are self-insured for various levels of workers' compensation, property and general liability, employee medical coverage, and other coverage. Insurance claims and reserves include accruals of estimated settlements for known claims, as well as accruals of actuarial estimates of incurred but not reported claims. In estimating these reserves, historical loss experience and judgments about the expected levels of costs per claim are considered. These claims are accounted for based on actuarial estimates of the undiscounted claims, including those claims incurred but not reported. We believe the use of actuarial methods to account for these liabilities provides a consistent and effective way to measure these highly judgmental accruals. We regularly monitor the potential for changes in estimates, evaluate our insurance accruals, and adjust our recorded provisions. | ||
Revenue Recognition | ' | |
Interactive Entertainment—Social and Mobile Games | ||
CIE derives revenue from the sale of virtual currencies within casino-themed social and mobile games that are played on various global social and mobile third-party platforms. Within the Slotomania application, game players may collect free virtual coins on a regular basis, may send "gifts" of either free virtual coins or free slot machine spins to their friends through interactions with the Facebook application, and may "earn" free virtual coins through targeted marketing promotions. Within the Bingo Blitz application, game players may collect free bingo credits on a regular basis, may send "gifts" of free bingo credits or other virtual items to their friends through interactions with the Facebook application, and may "earn" free bingo credits through targeted marketing promotions. Virtual coins in Slotomania and virtual bingo credits in Bingo Blitz (collectively referred to as "virtual currency" or "virtual goods") allow the game players to play the respective games free of charge. A game player may purchase additional virtual goods above and beyond the level of free virtual goods available to that player. Purchased virtual goods are deposited into the player's account and are then not separately identifiable from virtual goods previously obtained by the player. | ||
CIE is able to reliably estimate the period of time over which virtual currency is consumed. As such, CIE recognizes revenue using an item-based revenue model. However, CIE is unable to distinguish between when purchased or free virtual currency is being consumed; therefore, CIE must estimate the amount of outstanding purchased virtual currency at each reporting period based on customer behavior. CIE records within other current liabilities the deferred revenue associated with its social and mobile games, and also records within other current assets the prepaid platform fees associated with this deferred revenue. | ||
CIE's applications are played on various social and mobile third-party platforms for which such third parties collect monies from CIE’s customers and pay CIE an amount after deducting a platform fee. CIE is the primary obligor with its customers under these arrangements, retains the ability to establish the pricing for its virtual currencies, and assumes all credit risk with its customers. Based upon these facts, CIE recognizes revenues from its game-playing customers on a gross basis and related platform fees are recorded as a component of operating expense. | ||
Revenue Recognition | ||
Casino Revenues | ||
Casino revenues are measured by the aggregate net difference between gaming wins and losses, with liabilities recognized for funds deposited by customers before gaming play occurs and for chips in the customers’ possession. Food and beverage, rooms, and other operating revenues are recognized when services are performed. Advance deposits on rooms and advance ticket sales are recorded as customer deposits until services are provided to the customer. Sales taxes and other taxes collected from customers on behalf of governmental authorities are accounted for on a net basis and are not included in net revenues or operating expenses. | ||
Casino Promotional Allowance | ' | |
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 promotional allowances. See Note 13, "Casino Promotional Allowances." | ||
Revenue Recognition, Interactive Entertainment | ' | |
Interactive Entertainment—Social and Mobile Games | ||
CIE derives revenue from the sale of virtual currencies within casino-themed social and mobile games that are played on various global social and mobile third-party platforms. Within the Slotomania application, game players may collect free virtual coins on a regular basis, may send "gifts" of either free virtual coins or free slot machine spins to their friends through interactions with the Facebook application, and may "earn" free virtual coins through targeted marketing promotions. Within the Bingo Blitz application, game players may collect free bingo credits on a regular basis, may send "gifts" of free bingo credits or other virtual items to their friends through interactions with the Facebook application, and may "earn" free bingo credits through targeted marketing promotions. Virtual coins in Slotomania and virtual bingo credits in Bingo Blitz (collectively referred to as "virtual currency" or "virtual goods") allow the game players to play the respective games free of charge. A game player may purchase additional virtual goods above and beyond the level of free virtual goods available to that player. Purchased virtual goods are deposited into the player's account and are then not separately identifiable from virtual goods previously obtained by the player. | ||
CIE is able to reliably estimate the period of time over which virtual currency is consumed. As such, CIE recognizes revenue using an item-based revenue model. However, CIE is unable to distinguish between when purchased or free virtual currency is being consumed; therefore, CIE must estimate the amount of outstanding purchased virtual currency at each reporting period based on customer behavior. CIE records within other current liabilities the deferred revenue associated with its social and mobile games, and also records within other current assets the prepaid platform fees associated with this deferred revenue. | ||
CIE's applications are played on various social and mobile third-party platforms for which such third parties collect monies from CIE’s customers and pay CIE an amount after deducting a platform fee. CIE is the primary obligor with its customers under these arrangements, retains the ability to establish the pricing for its virtual currencies, and assumes all credit risk with its customers. Based upon these facts, CIE recognizes revenues from its game-playing customers on a gross basis and related platform fees are recorded as a component of operating expense. | ||
Advertising | ' | |
Advertising | ||
The Company expenses the production costs of advertising the first time the advertising takes place. | ||
Income Taxes | ' | |
Income Taxes | ||
The effect on the income tax provision and deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. We have provided a valuation allowance on certain foreign and state net operating losses ("NOLs"), and other federal, state, and foreign deferred tax assets. NOLs and other federal, state, and foreign deferred tax assets were not deemed realizable based upon near term estimates of future taxable income. | ||
We classify reserves for tax uncertainties within accrued expenses and deferred credits and other in our Consolidated Balance Sheets, separate from any related income tax payable, which is also reported within accrued expenses, or deferred income taxes. Reserve amounts relate to any potential income tax liabilities resulting from uncertain tax positions, as well as potential interest or penalties associated with those liabilities. | ||
We file income tax returns, including returns for our subsidiaries, with federal, state, and foreign jurisdictions, except for CGP LLC, which is filed as part of a separate tax filing group. We are under regular and recurring audit by the Internal Revenue Service ("IRS") and various state taxing authorities on open tax positions, and it is possible that the amount of the liability for unrecognized tax benefits could change during the next 12 months. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | |
Dec. 31, 2013 | ||
Accounting Policies [Abstract] | ' | |
Estimated Useful Life of Assets | ' | |
Depreciation is calculated using the straight-line method over the shorter of the estimated useful life of the asset or the related lease as follows: | ||
Useful Lives | ||
Land improvements | 12 years | |
Buildings | 30 to 40 years | |
Leasehold improvements | 5 to 15 years | |
Riverboats and barges | 30 years | |
Furniture, fixtures, and equipment | 2.5 to 20 years |
Acquisitions_Dispositions_and_1
Acquisitions, Dispositions and Divestitures (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Business Combinations [Abstract] | ' | |||||||||||
Components of Assets and Liabilities Held for Sale/Income from Discontinued Operations | ' | |||||||||||
Amounts Related to Assets and Liabilities Held for Sale | ||||||||||||
As of December 31, | ||||||||||||
(In millions) | 2013 | 2012 | ||||||||||
Assets | ||||||||||||
Cash and cash equivalents | $ | — | $ | 4.7 | ||||||||
Other current assets | — | 0.4 | ||||||||||
Assets held for sale, current | $ | — | $ | 5.1 | ||||||||
Property and equipment, net | $ | 11.9 | $ | 471.2 | ||||||||
Assets held for sale, non-current | $ | 11.9 | $ | 471.2 | ||||||||
Liabilities | ||||||||||||
Accounts payable and accrued expenses | $ | — | $ | 3.8 | ||||||||
Liabilities held for sale, current | $ | — | $ | 3.8 | ||||||||
Deferred credits and other | $ | — | $ | 0.2 | ||||||||
Deferred income taxes | — | 51.9 | ||||||||||
Liabilities held for sale, non-current | $ | — | $ | 52.1 | ||||||||
Amounts Related to Discontinued Operations | ||||||||||||
Years Ended December 31, | ||||||||||||
(In millions) | 2013 | 2012 | 2011 | |||||||||
Net revenues | ||||||||||||
Harrah's St. Louis | $ | — | $ | 208.4 | $ | 257.7 | ||||||
Macau | 2.9 | 3.6 | 3.5 | |||||||||
Alea Leeds | 0.4 | 6.3 | 6.7 | |||||||||
Total net revenues | $ | 3.3 | $ | 218.3 | $ | 267.9 | ||||||
Pre-tax income/(loss) from operations | ||||||||||||
Harrah's St. Louis | $ | (0.8 | ) | $ | 62.2 | $ | 75.3 | |||||
Macau | (5.1 | ) | (121.6 | ) | (16.1 | ) | ||||||
Alea Leeds | (23.9 | ) | (5.1 | ) | (4.1 | ) | ||||||
Total pre-tax income/(loss) from discontinued operations | $ | (29.8 | ) | $ | (64.5 | ) | $ | 55.1 | ||||
Income/(loss), net of income taxes | ||||||||||||
Harrah's St. Louis | $ | (0.6 | ) | $ | (1.7 | ) | $ | 45.8 | ||||
Macau | (5.5 | ) | (107.8 | ) | (14.4 | ) | ||||||
Alea Leeds | (23.9 | ) | (5.1 | ) | (4.1 | ) | ||||||
Total income/(loss) from discontinued operations, net of income taxes | $ | (30.0 | ) | $ | (114.6 | ) | $ | 27.3 | ||||
Property_and_Equipment_net_Tab
Property and Equipment, net (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||||||
Property and Equipment, Net | ' | |||||||||||
As of December 31, | ||||||||||||
(In millions) | 2013 | 2012 | ||||||||||
Land and land improvements | $ | 6,266.80 | $ | 7,208.80 | ||||||||
Buildings, riverboats, and improvements | 6,668.10 | 8,725.70 | ||||||||||
Furniture, fixtures, and equipment | 2,297.70 | 2,491.00 | ||||||||||
Construction in progress | 824.6 | 378.3 | ||||||||||
16,057.20 | 18,803.80 | |||||||||||
Less: accumulated depreciation | (2,819.3 | ) | (3,102.1 | ) | ||||||||
$ | 13,237.90 | $ | 15,701.70 | |||||||||
Depreciation Expense | ' | |||||||||||
Depreciation Expense | ||||||||||||
Years Ended December 31, | ||||||||||||
(In millions) | 2013 | 2012 | 2011 | |||||||||
Depreciation expense | $ | 571.6 | $ | 751.6 | $ | 724.7 | ||||||
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended | |||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||||||||
Changes in Carrying Value of Goodwill | ' | |||||||||||||||||||||||||
Changes in Carrying Value of Goodwill | ||||||||||||||||||||||||||
Gross Goodwill | Accumulated Impairment | Net Carrying Value | ||||||||||||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||
Balance as of January 1 | $ | 9,433.70 | $ | 9,438.60 | $ | (6,273.4 | ) | $ | (6,078.2 | ) | $ | 3,160.30 | $ | 3,360.40 | ||||||||||||
Additions | 15.1 | 14.3 | — | — | 15.1 | 14.3 | ||||||||||||||||||||
Impairments | — | — | (104.3 | ) | (195.2 | ) | (104.3 | ) | (195.2 | ) | ||||||||||||||||
Contribution of ThistleDown to ROC venture | — | (20.1 | ) | — | — | — | (20.1 | ) | ||||||||||||||||||
Disposals (1) | (14.9 | ) | — | — | — | (14.9 | ) | — | ||||||||||||||||||
Other (2) | 7.1 | 0.9 | — | — | 7.1 | 0.9 | ||||||||||||||||||||
Balance as of December 31 | $ | 9,441.00 | $ | 9,433.70 | $ | (6,377.7 | ) | $ | (6,273.4 | ) | $ | 3,063.30 | $ | 3,160.30 | ||||||||||||
(1) During 2013, we sold 45% of our interest in Baluma S.A. See Note 4. | ||||||||||||||||||||||||||
(2) Related to CIE acquisitions of Buffalo Studios and other CIE acquisitions. | ||||||||||||||||||||||||||
Schedule Of Intangible Assets Other Than Goodwill One Table [Text Block] | ' | |||||||||||||||||||||||||
Changes in Carrying Value of Intangible Assets Other Than Goodwill | ||||||||||||||||||||||||||
Amortizing | Non-Amortizing | Total | ||||||||||||||||||||||||
(In millions) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||
Balance as of January 1 | $ | 1,027.60 | $ | 1,163.70 | $ | 2,958.10 | $ | 3,199.50 | $ | 3,985.70 | $ | 4,363.20 | ||||||||||||||
Additions | 19.1 | 37.8 | — | — | 19.1 | 37.8 | ||||||||||||||||||||
Impairments | (150.3 | ) | — | (199.6 | ) | (242.0 | ) | (349.9 | ) | (242.0 | ) | |||||||||||||||
Amortization expense | (164.5 | ) | (174.6 | ) | — | — | (164.5 | ) | (174.6 | ) | ||||||||||||||||
Disposals | — | — | — | — | — | — | ||||||||||||||||||||
Other | (1.9 | ) | 0.7 | (0.8 | ) | 0.6 | (2.7 | ) | 1.3 | |||||||||||||||||
Balance as of December 31 | $ | 730 | $ | 1,027.60 | $ | 2,757.70 | $ | 2,958.10 | $ | 3,487.70 | $ | 3,985.70 | ||||||||||||||
Summary of Impairment Charges for Goodwill and Other Non-Amortizing Intangible Assets | ' | |||||||||||||||||||||||||
Impairment Charges for Goodwill and Other Non-amortizing Intangible Assets | ||||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||||
(In millions) | 2013 | 2012 | 2011 | |||||||||||||||||||||||
Goodwill | $ | 104.3 | $ | 195.2 | $ | 3 | ||||||||||||||||||||
Non-amortizing intangible assets: | ||||||||||||||||||||||||||
Trademarks | 101.4 | 209 | 8 | |||||||||||||||||||||||
Gaming Rights and other | 98.2 | 33 | — | |||||||||||||||||||||||
Total impairment charges | $ | 303.9 | $ | 437.2 | $ | 11 | ||||||||||||||||||||
Carrying Value and Accumulated Amortization for Each Major Class of Intangible Assets Other Than Goodwill | ' | |||||||||||||||||||||||||
Gross Carrying Value and Accumulated Amortization of Intangible Assets Other Than Goodwill | ||||||||||||||||||||||||||
December 31, 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 | $ | 1,268.10 | $ | (645.5 | ) | $ | 622.6 | $ | 1,456.70 | $ | (618.0 | ) | $ | 838.7 | |||||||||||
Contract rights | 14.5 | 97.6 | (79.4 | ) | 18.2 | 145.1 | (66.3 | ) | 78.8 | |||||||||||||||||
Patented technology | 2.8 | 138.3 | (76.5 | ) | 61.8 | 158.4 | (78.3 | ) | 80.1 | |||||||||||||||||
Gaming rights | 10.5 | 42.8 | (15.4 | ) | 27.4 | 42.8 | (12.8 | ) | 30 | |||||||||||||||||
$ | 1,546.80 | $ | (816.8 | ) | 730 | $ | 1,803.00 | $ | (775.4 | ) | 1,027.60 | |||||||||||||||
Non-amortizing intangible assets | ||||||||||||||||||||||||||
Trademarks | 1,598.20 | 1,699.70 | ||||||||||||||||||||||||
Gaming rights | 1,159.50 | 1,258.40 | ||||||||||||||||||||||||
2,757.70 | 2,958.10 | |||||||||||||||||||||||||
Total intangible assets other than goodwill | $ | 3,487.70 | $ | 3,985.70 | ||||||||||||||||||||||
Detail_of_Accrued_Expenses_and1
Detail of Accrued Expenses and Other Current Liabilities (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Detail of Accrued Expenses [Abstract] | ' | |||||||
Accrued Expenses and Other Current Liabilities | ' | |||||||
As of December 31, | ||||||||
(In millions) | 2013 | 2012 | ||||||
Accrued Expenses | ||||||||
Payroll and other compensation | $ | 233.4 | $ | 206.7 | ||||
Self-insurance claims and reserves | 208.2 | 202 | ||||||
Advance deposits | 203.5 | 138.6 | ||||||
Accrued taxes | 130 | 147 | ||||||
Total Rewards liability | 50.1 | 52 | ||||||
Other accruals | 387.1 | 348.4 | ||||||
Total accrued expenses | 1,212.30 | 1,094.70 | ||||||
Liabilities held for sale | — | 3.8 | ||||||
Total | $ | 1,212.30 | $ | 1,098.50 | ||||
Debt_Tables
Debt (Tables) | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||
Debt Disclosure [Abstract] | ' | |||||||||||||||||||||||||||
Outstanding Debt | ' | |||||||||||||||||||||||||||
Final | Rate(s) | Face Value | Book Value | Book Value | ||||||||||||||||||||||||
(Dollars in millions) | Maturity | December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||||
CEOC Debt | ||||||||||||||||||||||||||||
Credit Facilities (1) | ||||||||||||||||||||||||||||
Term Loans B1 - B3 | 2015 | 3.24% | $ | 29 | $ | 29 | $ | 1,025.80 | ||||||||||||||||||||
Term Loan B4 | 2016 | 9.50% | 959.8 | 948.1 | 954.5 | |||||||||||||||||||||||
Term Loan B5 | 2018 | 4.49% | 991.9 | 989.3 | 1,218.80 | |||||||||||||||||||||||
Term Loan B6 (5) | 2018 | 5.49% | 2,431.90 | 2,399.90 | 2,812.60 | |||||||||||||||||||||||
Secured Debt | ||||||||||||||||||||||||||||
Senior Secured Notes (1) | 2017 | 11.25% | 2,095.00 | 2,066.40 | 2,060.20 | |||||||||||||||||||||||
Senior Secured Notes (1) | 2020 | 8.50% | 1,250.00 | 1,250.00 | 1,250.00 | |||||||||||||||||||||||
Senior Secured Notes (1) | 2020 | 9.00% | 3,000.00 | 2,954.50 | 1,486.90 | |||||||||||||||||||||||
Second-Priority Senior Secured Notes (1) | 2018 | 12.75% | 750 | 743.9 | 742.9 | |||||||||||||||||||||||
Second-Priority Senior Secured Notes (1) | 2018 | 10.00% | 4,528.10 | 2,433.20 | 2,260.20 | |||||||||||||||||||||||
Second-Priority Senior Secured Notes (1) | 2015 | 10.00% | 214.8 | 187.7 | 173.7 | |||||||||||||||||||||||
Chester Downs Senior Secured Notes | 2020 | 9.25% | 330 | 330 | 330 | |||||||||||||||||||||||
Bill's Gamblin' Hall & Saloon ("Bill's") Credit Facility (6) | 2019 | 11.00% | 185 | 179.8 | 181.4 | |||||||||||||||||||||||
Capitalized Lease Obligations | to 2017 | various | 16.7 | 16.7 | 27.2 | |||||||||||||||||||||||
Subsidiary-Guaranteed Debt (2) | ||||||||||||||||||||||||||||
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 (1) | ||||||||||||||||||||||||||||
5.38% | 2013 | — | — | — | 116.6 | |||||||||||||||||||||||
7.00% | 2013 | — | — | — | 0.6 | |||||||||||||||||||||||
5.63% | 2015 | 5.63% | 364.4 | 328.3 | 306.7 | |||||||||||||||||||||||
6.50% | 2016 | 6.50% | 248.7 | 212.6 | 200.9 | |||||||||||||||||||||||
5.75% | 2017 | 5.75% | 147.9 | 115 | 108.7 | |||||||||||||||||||||||
Floating Rate Contingent Convertible Senior Notes | 2024 | 0.25% | 0.2 | 0.2 | 0.2 | |||||||||||||||||||||||
Other Unsecured Borrowings | ||||||||||||||||||||||||||||
Special Improvement District Bonds | 2037 | 5.30% | 62.9 | 62.9 | 64.3 | |||||||||||||||||||||||
Other | 2016 | 0.00% - 6.00% | 45.9 | 45.9 | — | |||||||||||||||||||||||
Total CEOC Debt (4) | 18,141.70 | 15,782.90 | 15,810.50 | |||||||||||||||||||||||||
Final | Rate(s) | Face Value | Book Value | Book Value | ||||||||||||||||||||||||
(Dollars in millions) | Maturity | December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||||
CERP Debt | ||||||||||||||||||||||||||||
Secured Debt | ||||||||||||||||||||||||||||
CERP Senior Secured Loan (3) | 2020 | 7.00% | 2,500.00 | 2,449.70 | — | |||||||||||||||||||||||
CERP First Lien Notes (3) | 2020 | 8.00% | 1,000.00 | 993.7 | — | |||||||||||||||||||||||
CERP Second Lien Notes (3) | 2021 | 11.00% | 1,150.00 | 1,140.80 | — | |||||||||||||||||||||||
CMBS Financing | — | — | — | 4,660.50 | ||||||||||||||||||||||||
LINQ/Octavius Senior Secured Loan | — | — | — | 446.5 | ||||||||||||||||||||||||
Capitalized Lease Obligations | to 2017 | various | 5.4 | 5.4 | 8.6 | |||||||||||||||||||||||
Other Unsecured Borrowings | ||||||||||||||||||||||||||||
Other | 2016 | 0.00% - 6.00% | 21.3 | 21.3 | — | |||||||||||||||||||||||
Total CERP Debt | 4,676.70 | 4,610.90 | 5,115.60 | |||||||||||||||||||||||||
CGP LLC Debt (7) | ||||||||||||||||||||||||||||
Secured Debt | ||||||||||||||||||||||||||||
PHW Las Vegas Senior Secured Loan | 2015 | 3.03% | 494.8 | 456.1 | 438.2 | |||||||||||||||||||||||
Baltimore Credit Facility | 2020 | 8.25% | 225 | 214.5 | — | |||||||||||||||||||||||
Capitalized Lease Obligations | to 2017 | various | 0.1 | 0.1 | 0.1 | |||||||||||||||||||||||
Other Unsecured Borrowings | ||||||||||||||||||||||||||||
Other | 2014 - 2018 | various | 51 | 51 | 47.7 | |||||||||||||||||||||||
Total CGP LLC Debt | 770.9 | 721.7 | 486 | |||||||||||||||||||||||||
Total Debt | 23,589.30 | 21,115.50 | 21,412.10 | |||||||||||||||||||||||||
Current Portion of Long-Term Debt | (197.1 | ) | (197.1 | ) | (879.9 | ) | ||||||||||||||||||||||
Long-Term Debt | $ | 23,392.20 | $ | 20,918.40 | $ | 20,532.20 | ||||||||||||||||||||||
____________________ | ||||||||||||||||||||||||||||
(1) | Guaranteed by Caesars Entertainment. | |||||||||||||||||||||||||||
(2) | Guaranteed by Caesars Entertainment and certain wholly owned subsidiaries of CEOC. | |||||||||||||||||||||||||||
(3) | Guaranteed by Caesars Entertainment Resort Properties and its subsidiaries. | |||||||||||||||||||||||||||
(4) | $1,146.6 million of debt issued by CEOC is held by other consolidated entities, substantially all of which is held by CGP LLC. Accordingly, such debt is not considered outstanding in the above presentation. | |||||||||||||||||||||||||||
(5) | The Term B-6 Loans have a springing maturity to April 14, 2017 if more than $250.0 million of CEOC's 11.25% senior secured notes due 2017 remain outstanding on April 14, 2017. | |||||||||||||||||||||||||||
(6) | Subsequent to year end, the Company announced the agreement to sell the property to CGP LLC, as part of this transaction, CGP LLC will assume this debt. See Note 24. | |||||||||||||||||||||||||||
Schedule of Maturities | ' | |||||||||||||||||||||||||||
Annual Maturities of Long-Term Debt | ||||||||||||||||||||||||||||
(In millions) | 2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | |||||||||||||||||||||
CEOC | $ | 113.4 | $ | 1,108.50 | $ | 2,084.00 | $ | 2,715.50 | $ | 8,447.10 | $ | 4,819.80 | $ | 19,288.30 | ||||||||||||||
Less: CEOC to affiliate (1) | — | (427.3 | ) | (324.5 | ) | (390.9 | ) | (3.9 | ) | — | (1,146.6 | ) | ||||||||||||||||
CERP | 35.9 | 33.9 | 31.8 | 25 | 25.1 | 4,525.00 | 4,676.70 | |||||||||||||||||||||
CGP LLC | 47.8 | 497.1 | 2.2 | 2.2 | 5.4 | 216.2 | 770.9 | |||||||||||||||||||||
Total | $ | 197.1 | $ | 1,212.20 | $ | 1,793.50 | $ | 2,351.80 | $ | 8,473.70 | $ | 9,561.00 | $ | 23,589.30 | ||||||||||||||
List of Casino Properties with Mortgages Under the Credit Facilities | ' | |||||||||||||||||||||||||||
As of December 31, 2013, certain undeveloped land in Las Vegas and the following casino properties have mortgages under the Credit Facilities: | ||||||||||||||||||||||||||||
Las Vegas | Atlantic Coast | Other U.S. | ||||||||||||||||||||||||||
Caesars Palace | Bally’s Atlantic City | Harrah’s New Orleans (Hotel Only) (1) | ||||||||||||||||||||||||||
Bally’s Las Vegas (1) | Caesars Atlantic City | Harrah’s Louisiana Downs | ||||||||||||||||||||||||||
The Quad Resort & Casino (1) | Showboat Atlantic City | Horseshoe Bossier City | ||||||||||||||||||||||||||
Harrah’s Tunica | ||||||||||||||||||||||||||||
Horseshoe Tunica | ||||||||||||||||||||||||||||
Tunica Roadhouse Hotel & Casino | ||||||||||||||||||||||||||||
Harrah’s Council Bluffs | ||||||||||||||||||||||||||||
Horseshoe Council Bluffs/Bluffs Run | ||||||||||||||||||||||||||||
Horseshoe Southern Indiana | ||||||||||||||||||||||||||||
Harrah’s Metropolis | ||||||||||||||||||||||||||||
Horseshoe Hammond | ||||||||||||||||||||||||||||
Harrah’s Reno | ||||||||||||||||||||||||||||
Harrah’s Lake Tahoe | ||||||||||||||||||||||||||||
Harveys Lake Tahoe | ||||||||||||||||||||||||||||
(1) Subsequent to year end, the Company announced the agreement to sell this property to CGP LLC. See Note 24. |
Derivative_Instruments_Tables
Derivative Instruments (Tables) | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | |||||||||||||||||
Fair Values of Derivative Instruments | ' | |||||||||||||||||
Fair Values of Derivative Instruments | ||||||||||||||||||
Asset Derivatives | Liability Derivatives | |||||||||||||||||
Fair Value | Fair Value | |||||||||||||||||
(In millions) | Balance Sheet Location | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Interest rate swaps | Deferred credits and other | $ | — | $ | — | $ | (165.9 | ) | $ | (306.4 | ) | |||||||
Interest rate cap | Deferred credits and other | * | * | — | — | |||||||||||||
Total | $ | — | $ | — | $ | (165.9 | ) | $ | (306.4 | ) | ||||||||
___________________ | ||||||||||||||||||
* Amount rounds to zero. | ||||||||||||||||||
Effect of Derivative Instruments in Consolidated Statements of Comprehensive Loss | ' | |||||||||||||||||
Effect of Derivative Instruments on Net Loss and Comprehensive Loss | ||||||||||||||||||
(In millions) | Years Ended December 31, | |||||||||||||||||
Derivatives designated as accounting hedges | Location of (Gain) or Loss Recognized in Net Loss | 2013 | 2012 | 2011 | ||||||||||||||
Loss recognized in AOCL (effective portion) | Other Comprehensive Loss | $ | — | $ | — | $ | 64.3 | |||||||||||
Loss reclassified from AOCL into net loss | Interest Expense | 4 | 28.4 | 265.7 | ||||||||||||||
(effective portion) | ||||||||||||||||||
Gain recognized in net loss (ineffective portion) | Interest Expense | — | — | (53.4 | ) | |||||||||||||
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] | ' | |||||||||||||||||
Effect of Non-designated Derivative Instruments on Net Loss | ||||||||||||||||||
(In millions) | Years Ended December 31, | |||||||||||||||||
Derivatives not designated as accounting hedges | Location of Loss | 2013 | 2012 | 2011 | ||||||||||||||
Net periodic cash settlements and accrued interest (1) | Interest expense | $ | 172 | $ | 169.6 | $ | 201.1 | |||||||||||
Total expense for derivatives | Interest expense | $ | 34.4 | $ | 140 | $ | 184.2 | |||||||||||
___________________ | ||||||||||||||||||
(1) The derivative settlements under the terms of the interest rate swap agreements are recognized as interest expense and are paid monthly. |
Stockholders_Equity_and_Loss_P1
Stockholders' Equity and Loss Per Share (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Stockholders Equity Noncontrolling Interests and Income (Loss) Per Share [Abstract] | ' | ||||||||
Number of Shares Excluded from Computation of Diluted Loss Per Share | ' | ||||||||
The following table shows the weighted average number of shares that were excluded from the computation of diluted loss per share, as they were anti-dilutive: | |||||||||
Years Ended December 31, | |||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||
Stock options | 4.3 | 6.1 | 5.9 | ||||||
Restricted stock units | 1.6 | — | — | ||||||
Warrants | 0.3 | 0.4 | 0.1 | ||||||
6.2 | 6.5 | 6 | |||||||
Reclassification_out_of_Accumu1
Reclassification out of Accumulated Other Comprehensive Loss (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | |||||||||||||||
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | ' | |||||||||||||||
Years Ended December 31, | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
(In millions) | Benefit Plan Adjustments | Losses on Derivative Instruments | Losses on Derivative Instruments | Losses on Derivative Instruments | ||||||||||||
Amount reclassified from AOCL to interest expense | $ | 0.7 | $ | 4 | $ | 28.4 | $ | 265.7 | ||||||||
Related tax impact | — | (1.5 | ) | (10.3 | ) | (117.3 | ) | |||||||||
Reclassification, net of income taxes | $ | 0.7 | $ | 2.5 | $ | 18.1 | $ | 148.4 | ||||||||
Casino_Promotional_Allowances_1
Casino Promotional Allowances (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Promotional Allowances [Abstract] | ' | |||||||||||
Promotional Allowances | ' | |||||||||||
Estimated Retail Value of Casino Promotional Allowances | ||||||||||||
Years Ended December 31, | ||||||||||||
(In millions) | 2013 | 2012 | 2011 | |||||||||
Food and Beverage | $ | 628.5 | $ | 651.3 | $ | 636.9 | ||||||
Rooms | 457.6 | 481.1 | 484.3 | |||||||||
Other | 92.5 | 119.7 | 111.1 | |||||||||
$ | 1,178.60 | $ | 1,252.10 | $ | 1,232.30 | |||||||
Cost of Providing Promotional Allowance | ' | |||||||||||
Estimated Cost of Providing Casino Promotional Allowances | ||||||||||||
Years Ended December 31, | ||||||||||||
(In millions) | 2013 | 2012 | 2011 | |||||||||
Food and Beverage | $ | 459 | $ | 476.7 | $ | 469 | ||||||
Rooms | 178.7 | 186.7 | 188.2 | |||||||||
Other | 47.6 | 49.7 | 58.9 | |||||||||
$ | 685.3 | $ | 713.1 | $ | 716.1 | |||||||
Writedowns_Reserves_and_Projec1
Write-downs, Reserves, and Project Opening Costs, net of Recoveries (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 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 | ' | |||||||||||
Write-downs, Reserves, and Project Opening Costs, net of Recoveries | ||||||||||||
Years Ended December 31, | ||||||||||||
(In millions) | 2013 | 2012 | 2011 | |||||||||
Remediation costs | $ | 28.5 | $ | 21.1 | $ | 11 | ||||||
Divestitures and abandonments | 22.8 | 59.1 | 10.1 | |||||||||
Efficiency projects | — | 17.5 | 46.6 | |||||||||
Gain on ThistleDown transactions (Note 4) | — | (11.0 | ) | — | ||||||||
Suffolk Downs equity investment write-off (Note 4) | 41.9 | — | — | |||||||||
Project opening costs | 15.4 | 12.6 | 4.7 | |||||||||
Other | (4.2 | ) | 0.4 | 1.4 | ||||||||
Total | $ | 104.4 | $ | 99.7 | $ | 73.8 | ||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Components of (Loss)/Income Before Income Taxes | ' | |||||||||||
Components of (Loss)/Income Before Income Taxes | ||||||||||||
Years Ended December 31, | ||||||||||||
(In millions) | 2013 | 2012 | 2011 | |||||||||
United States | $ | (4,652.0 | ) | $ | (2,341.9 | ) | $ | (1,271.5 | ) | |||
Outside of the U.S. | 192.5 | 83.2 | 5.5 | |||||||||
$ | (4,459.5 | ) | $ | (2,258.7 | ) | $ | (1,266.0 | ) | ||||
Income Tax (Benefit)/Provision | ' | |||||||||||
Income Tax (Benefit)/Provision | ||||||||||||
Years Ended December 31, | ||||||||||||
(In millions) | 2013 | 2012 | 2011 | |||||||||
United States | ||||||||||||
Current | ||||||||||||
Federal | $ | (6.4 | ) | $ | (72.0 | ) | $ | (1.0 | ) | |||
State | (82.6 | ) | 5.6 | (16.4 | ) | |||||||
Deferred | ||||||||||||
Federal | (1,421.4 | ) | (726.7 | ) | (450.6 | ) | ||||||
State | (51.2 | ) | (87.1 | ) | (70.1 | ) | ||||||
Outside of the U.S. | ||||||||||||
Current | 28.5 | 13 | 8.8 | |||||||||
Deferred | (16.6 | ) | (3.3 | ) | (5.3 | ) | ||||||
$ | (1,549.7 | ) | $ | (870.5 | ) | $ | (534.6 | ) | ||||
Schedule of Components of Income Tax Expense (Benefit), All Operations [Table Text Block] | ' | |||||||||||
Allocation of Income Tax (Benefit)/Provision | ||||||||||||
Years Ended December 31, | ||||||||||||
(In millions) | 2013 | 2012 | 2011 | |||||||||
Income tax (benefit)/provision applicable to: | ||||||||||||
Loss from continuing operations, before income taxes | $ | (1,549.7 | ) | $ | (870.5 | ) | $ | (534.6 | ) | |||
Discontinued operations | 0.2 | 50.1 | 27.8 | |||||||||
Accumulated other comprehensive income/(loss) | 15.9 | 10.9 | 70.9 | |||||||||
Retained earnings | — | — | 6 | |||||||||
Additional paid in capital | 14.5 | (2.1 | ) | 11.6 | ||||||||
Effective Income Tax Rate Reconciliation | ' | |||||||||||
Effective Income Tax Rate Reconciliation | ||||||||||||
Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Statutory tax rate | 35 | % | 35 | % | 35 | % | ||||||
Increases/(decreases) in tax resulting from: | ||||||||||||
State taxes, net of federal tax benefit | 6.4 | 4.4 | 8.7 | |||||||||
Valuation allowance | (9.5 | ) | (2.3 | ) | (6.8 | ) | ||||||
Foreign income taxes | 0.1 | — | 2.4 | |||||||||
Goodwill | (0.4 | ) | (1.4 | ) | 0.1 | |||||||
Stock based compensation | (0.2 | ) | (0.2 | ) | — | |||||||
Officers’ life insurance/insurance proceeds | — | 0.1 | (0.3 | ) | ||||||||
Acquisition and integration costs | 0.1 | (0.2 | ) | — | ||||||||
Reserves for uncertain tax positions | — | 3.1 | (0.2 | ) | ||||||||
Deferred tax liability adjustment | — | — | 3.3 | |||||||||
Capital loss tax benefit | 4 | — | — | |||||||||
CGP LLC transaction deferred tax adjustment | (0.8 | ) | — | — | ||||||||
Other | — | — | — | |||||||||
Effective tax rate | 34.7 | % | 38.5 | % | 42.2 | % | ||||||
Components of Deferred Tax Assets and Liabilities | ' | |||||||||||
Temporary Differences Resulting in Deferred Tax Assets and Liabilities | ||||||||||||
(In millions) | 2013 | 2012 | ||||||||||
Deferred tax assets: | ||||||||||||
State net operating losses | $ | 252.8 | $ | 180.3 | ||||||||
Foreign net operating losses | 24.3 | 37.8 | ||||||||||
Federal net operating loss | 1,280.90 | 850.2 | ||||||||||
Compensation programs | 141.5 | 120.6 | ||||||||||
Allowance for doubtful accounts | 76.4 | 87.6 | ||||||||||
Self-insurance reserves | 16.4 | 15.7 | ||||||||||
Accrued expenses | 44.4 | 44.6 | ||||||||||
Federal tax credits | 34.7 | 33.7 | ||||||||||
Federal indirect tax benefits of uncertain state tax positions | 27.2 | 52.8 | ||||||||||
Outside basis difference in foreign subsidiaries | — | 61.5 | ||||||||||
Investment in CGP LLC | 23.4 | — | ||||||||||
Investments in non-consolidated affiliates | 38.7 | — | ||||||||||
Capital loss carryover | 136.4 | — | ||||||||||
Deferred revenue | 41.2 | 2 | ||||||||||
Other | 10.3 | 18.6 | ||||||||||
Subtotal | 2,148.60 | 1,505.40 | ||||||||||
Less: valuation allowance | 739.5 | 330 | ||||||||||
Total deferred tax assets | 1,409.10 | 1,175.40 | ||||||||||
Deferred tax liabilities: | ||||||||||||
Depreciation and other property-related items | 1,188.90 | 2,241.70 | ||||||||||
Deferred cancellation of debt income and other debt-related items | 1,833.60 | 1,913.40 | ||||||||||
Management and other contracts | — | 3.9 | ||||||||||
Intangibles | 1,118.10 | 1,255.70 | ||||||||||
Prepaid expenses | 25 | 28.3 | ||||||||||
Investments in non-consolidated affiliates | — | 3.5 | ||||||||||
Total deferred tax liabilities | 4,165.60 | 5,446.50 | ||||||||||
Net deferred tax liability | $ | 2,756.50 | $ | 4,271.10 | ||||||||
Deferred Tax Assets and Liabilities as Presented in Consolidated Balance Sheets | ' | |||||||||||
Deferred Tax Assets and Liabilities Presented in our Consolidated Balance Sheets | ||||||||||||
(In millions) | 2013 | 2012 | ||||||||||
Assets: | ||||||||||||
Deferred income taxes (current) | $ | 8.7 | $ | 114.9 | ||||||||
Liabilities: | ||||||||||||
Deferred income taxes (current) | 289.2 | $ | — | |||||||||
Liabilities held for sale (non-current) | — | 51.9 | ||||||||||
Deferred income taxes (non-current) | 2,476.00 | 4,334.10 | ||||||||||
Net deferred tax liability | $ | 2,756.50 | $ | 4,271.10 | ||||||||
Unrecognized Tax Benefits | ' | |||||||||||
Reconciliation Unrecognized Tax Benefits | ||||||||||||
Years Ended December 31, | ||||||||||||
(In millions) | 2013 | 2012 | 2011 | |||||||||
Balance at beginning of year | $ | 333.4 | $ | 532.3 | $ | 567.4 | ||||||
Additions based on tax positions related to the current year | 0.8 | 9.5 | 4.2 | |||||||||
Additions for tax positions of prior years | 6.7 | 3.3 | 2 | |||||||||
Reductions for tax positions for prior years | (50.5 | ) | (203.7 | ) | (36.4 | ) | ||||||
Settlements | (81.6 | ) | (7.9 | ) | — | |||||||
Expiration of statutes | (66.5 | ) | (0.1 | ) | (4.9 | ) | ||||||
Balance at end of year | $ | 142.3 | $ | 333.4 | $ | 532.3 | ||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||
Fair Value of Financial Assets and Financial Liabilities | ' | |||||||||||||||||||
Items Measured at Fair Value on a Recurring Basis | ||||||||||||||||||||
(In millions) | Balance | Level 1 | Level 2 | Level 3 | ||||||||||||||||
December 31, 2013 | ||||||||||||||||||||
Assets: | ||||||||||||||||||||
Investments | $ | 91.7 | $ | 91.7 | $ | — | $ | — | ||||||||||||
Derivative instruments | * | — | * | — | ||||||||||||||||
Liabilities: | ||||||||||||||||||||
Derivative instruments | (165.9 | ) | — | (165.9 | ) | — | ||||||||||||||
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 following table shows our investments by type. | ||||||||||||||||||||
(In millions) | 2013 | 2012 | ||||||||||||||||||
Equity | $ | 19.6 | $ | 2.8 | ||||||||||||||||
Government bonds | 72.1 | 111.4 | ||||||||||||||||||
Total Investments | $ | 91.7 | $ | 114.2 | ||||||||||||||||
Fair Value of Assets Required to be Measured at Fair Value | ' | |||||||||||||||||||
Items Measured at Fair Value on a Non-recurring Basis | ||||||||||||||||||||
(In millions) | Balance | Level 1 | Level 2 | Level 3 | Total Adjustments Loss/(Gain) | |||||||||||||||
Intangible and tangible assets | $ | 311.8 | $ | — | $ | — | $ | 311.8 | $ | 2,440.10 | ||||||||||
Assets held for sale, net | 11.9 | — | — | 11.9 | 25.3 | |||||||||||||||
Contingent earnout liability | 61.9 | — | — | 61.9 | 53.4 | |||||||||||||||
Litigation_Contractual_Commitm1
Litigation, Contractual Commitments and Contingent Liabilities Litigation, Contractual Commitments and Contingent Liabilities (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Commitments and Contingencies Disclosure [Abstract] | ' | ||||
Location and Expiration Dates of Management Contracts with Tribal Casinos | ' | ||||
Tribal Casino Management Contracts | |||||
Casino | Location | Expiration of | |||
Management Agreement | |||||
Harrah’s Rincon | near San Diego, California | November 2014 | |||
Harrah’s Ak-Chin | near Phoenix, Arizona | December 2014 | |||
Harrah’s Cherokee | Cherokee, North Carolina | November 2018 |
Leases_Tables
Leases (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Leases [Abstract] | ' | |||||||||||
Net Rental Expense | ' | |||||||||||
Net Rent Expense | ||||||||||||
Years Ended December 31, | ||||||||||||
(In millions) | 2013 | 2012 | 2011 | |||||||||
Noncancelable leases: | ||||||||||||
Minimum | $ | 71.5 | $ | 115.2 | $ | 102.1 | ||||||
Contingent | 2.1 | 2.3 | 2.4 | |||||||||
Sublease | (0.9 | ) | (0.9 | ) | (0.9 | ) | ||||||
Other leases | 57.7 | 77.9 | 74.6 | |||||||||
Total net rent expense | $ | 130.4 | $ | 194.5 | $ | 178.2 | ||||||
Future Minimum Rental Commitments | ' | |||||||||||
Future Minimum Lease Obligations | ||||||||||||
(In millions) | Capital | Operating | ||||||||||
Leases | Leases | |||||||||||
2014 | $ | 16.1 | $ | 61.1 | ||||||||
2015 | 7.8 | 58.9 | ||||||||||
2016 | — | 54.7 | ||||||||||
2017 | — | 53.8 | ||||||||||
2018 | — | 53.9 | ||||||||||
2019 and thereafter | — | 1,059.10 | ||||||||||
Total minimum rental commitments | 23.9 | $ | 1,341.50 | |||||||||
Less amounts representing interest | (1.7 | ) | ||||||||||
Present value of net minimum lease payments | $ | 22.2 | ||||||||||
Supplemental_Cash_Flow_Informa1
Supplemental Cash Flow Information (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Supplemental Cash Flow Information [Abstract] | ' | |||||||||||
Supplemental Cash Flow Reconciliation | ' | |||||||||||
Reconciliation of Cash Paid for Interest | ||||||||||||
Years Ended December 31, | ||||||||||||
(In millions) | 2013 | 2012 | 2011 | |||||||||
Interest expense | $ | 2,253.00 | $ | 2,100.30 | $ | 2,121.70 | ||||||
Adjustments to reconcile to cash paid for interest: | ||||||||||||
Net change in accrued interest | (125.4 | ) | (13.1 | ) | (11.9 | ) | ||||||
Amortization of deferred finance charges | (51.2 | ) | (88.5 | ) | (70.3 | ) | ||||||
Net amortization of discounts and premiums | (308.9 | ) | (226.3 | ) | (157.2 | ) | ||||||
Reclassification of accumulated other comprehensive loss | — | — | (183.2 | ) | ||||||||
Amortization of other comprehensive income | (4.7 | ) | (29.1 | ) | (83.3 | ) | ||||||
Rollover of PIK interest to principal | (1.2 | ) | (1.0 | ) | (1.1 | ) | ||||||
Change in fair value of derivative instruments | 137.6 | 29.6 | 70.3 | |||||||||
Cash paid for interest | $ | 1,899.20 | $ | 1,771.90 | $ | 1,685.00 | ||||||
StockBased_Compensation_StockB
Stock-Based Compensation Stock-Based Compensation (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||
Stock-Based Compensation Expense Recognized | ' | ||||||||||||
Stock-Based Compensation Expense | |||||||||||||
(In millions) | 2013 | 2012 | 2011 | ||||||||||
Amounts included in: | |||||||||||||
Corporate expense | $ | 24.8 | $ | 29.1 | $ | 13.8 | |||||||
Property, general, administrative, and other | 31.7 | 26 | 8 | ||||||||||
Total stock-based compensation expense | $ | 56.5 | $ | 55.1 | $ | 21.8 | |||||||
Summary of Share-Based Option Activity | ' | ||||||||||||
Stock Option Activity | |||||||||||||
Shares | Weighted | Fair | Weighted Average | ||||||||||
Average | Value (1) | Remaining | |||||||||||
Exercise | Contractual Term | ||||||||||||
Price | (years) | ||||||||||||
Outstanding as of December 31, 2012 | 8,478,148 | $ | 12.22 | $ | 3.51 | ||||||||
Granted | 550,812 | 13.65 | 5.95 | ||||||||||
Exercised | (143,109 | ) | 8.38 | 7.33 | |||||||||
Forfeited | (344,656 | ) | 10.64 | 3.01 | |||||||||
Expired | (77,384 | ) | 16.42 | 5.4 | |||||||||
Outstanding as of December 31, 2013 | 8,463,811 | $ | 12.09 | $ | 2.68 | 8.5 | |||||||
Vested and expected to vest as of December 31, 2013 | 7,975,096 | $ | 11.96 | $ | 2.84 | 8.5 | |||||||
Exercisable as of December 31, 2013 | 2,314,229 | $ | 15.53 | $ | 4.58 | 8.3 | |||||||
____________________ | |||||||||||||
(1) | Represents the weighted-average grant date fair value per option, using the Monte Carlo simulation option-pricing model for performance-based options, and the Black-Scholes option-pricing model for time-based options. | ||||||||||||
Summary of Share-Based Option Grants and Exercises | ' | ||||||||||||
Stock Option Grants and Exercises | |||||||||||||
Years Ended December 31, | |||||||||||||
(Dollars in millions, except per share data) | 2013 | 2012 | 2011 | ||||||||||
Options Granted: | |||||||||||||
Number of options granted | 550,812 | 8,173,944 | 2,252,457 | ||||||||||
Weighted Average Grant-Date Fair Value per share (1) | $5.95 | $3.50 | $10.55 | ||||||||||
Weighted Average Exercise Price per Share (1)(2) | $13.65 | $8.44 | $26.23 | ||||||||||
Option Exercises: | |||||||||||||
Number of options exercised | 143,109 | — | — | ||||||||||
Cash received for options exercised | $1.20 | — | — | ||||||||||
Intrinsic value of options exercised | $1.50 | — | — | ||||||||||
Intrinsic Value of Options Vested and Expected to Vest: | $86.10 | $0.10 | — | ||||||||||
____________________ | |||||||||||||
-1 | Represents the weighted-average grant date fair value per option, using the Monte Carlo simulation option-pricing model for performance-based options, and the Black-Scholes option-pricing model for time-based options. | ||||||||||||
(2) | Adjusted for the February 2012 1.742-for-1 stock split. | ||||||||||||
Share-Based Option Activity - Valuation Assumptions | ' | ||||||||||||
Valuation assumptions for the indicated periods are presented below: | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Expected volatility | 57.4 | % | 55.8 | % | 65.8 | % | |||||||
Expected dividend yield | — | % | — | % | — | % | |||||||
Expected term (in years) | 3.8 | 4.9 | 4.8 | ||||||||||
Risk-free interest rate | 1 | % | 0.9 | % | 1.1 | % | |||||||
Summary of Share-Based Restricted Stock Unit Activity | ' | ||||||||||||
Restricted Stock Unit Activity | |||||||||||||
Units | Fair Value | ||||||||||||
Outstanding as of December 31, 2012 | — | — | |||||||||||
Granted | 1,579,837 | $13.74 | |||||||||||
Forfeited | (76,303 | ) | $13.70 | ||||||||||
Outstanding as of December 31, 2013 | 1,503,534 | $13.74 | |||||||||||
Employee_Benefit_Plans_Tables
Employee Benefit Plans (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Pension Plan Participation and Contribution Summary | ' | ||||||||||||||||||||||||
Multiemployer Pension Plan Participation | |||||||||||||||||||||||||
Pension Protection Act Zone Status (1) | Contributions | ||||||||||||||||||||||||
(In millions) | |||||||||||||||||||||||||
Pension Fund | EIN/Pension Plan Number | 2013 | 2012 | FIP/RP Status (2) | 2013 | 2012 | 2011 | Surcharge Imposed | Expiration Date of Collective-Bargaining Agreement | ||||||||||||||||
Southern Nevada Culinary and Bartenders Pension Plan | 88-6016617/001 | Green | Green | No | $ | 20 | $ | 18.7 | $ | 16.3 | No | 31-May-18 | |||||||||||||
Pension Plan of the UNITE HERE National Retirement Fund | 13-6130178/001 | Red | Red | Yes | 14 | 13.8 | 12.8 | No | 14-Sep-14 | ||||||||||||||||
Local 68 Engineers Union Pension Plan (3) | 51-0176618/001 | Yellow | Green | Yes | 1.5 | 1.5 | 1.6 | No | 30-Apr-14 | ||||||||||||||||
NJ Carpenters Pension Fund | 22-6174423/001 | Yellow | Yellow | Yes | 0.5 | 0.4 | 0.4 | No | 30-Apr-14 | ||||||||||||||||
Other Funds | 12.6 | 12.5 | 13.7 | ||||||||||||||||||||||
Total Contributions | $ | 48.6 | $ | 46.9 | $ | 44.8 | |||||||||||||||||||
____________________ | |||||||||||||||||||||||||
-1 | Represents the Pension Protection Act ("PPA") zone status for applicable plan year beginning January 1, 2013, except where noted otherwise. | ||||||||||||||||||||||||
-2 | Indicates plans for which a financial improvement plan ("FIP") or a rehabilitation plan ("RP") is either pending or has been implemented. | ||||||||||||||||||||||||
-3 | Plan years begin July 1. | ||||||||||||||||||||||||
Summary of Plans Where Contributions Exceeded Five Percent of Total Plan Contributions | ' | ||||||||||||||||||||||||
Plans with Company Contributions in Excess of 5% of Total Plan Contributions | |||||||||||||||||||||||||
Pension Fund | Applicable Plan Years | ||||||||||||||||||||||||
Pension Plan of the UNITE HERE National Retirement Fund | 2012 and 2011 | ||||||||||||||||||||||||
Southern Nevada Culinary and Bartenders Pension Plan | 2012 and 2011 | ||||||||||||||||||||||||
Local 68 Engineers Union Pension Plan | 2012 and 2011 | ||||||||||||||||||||||||
Nevada Resort Association IATSE Local 720 Retirement Plan | 2012 and 2011 |
Condensed_Consolidating_Financ1
Condensed Consolidating Financial Information of Guarantors and Issuers (Tables) | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' | |||||||||||||||||||||||||||
Condensed Consolidating Balance Sheet | ' | |||||||||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET | ||||||||||||||||||||||||||||
DECEMBER 31, 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 | ||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||
Current assets | ||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 113.3 | $ | 996.4 | $ | 293.6 | $ | 1,367.90 | $ | 1,661.50 | $ | — | $ | 2,771.20 | ||||||||||||||
Restricted cash | 30.5 | — | 1 | 56 | 57 | — | 87.5 | |||||||||||||||||||||
Receivables, net | 0.1 | 45.4 | 411.5 | 162.9 | 574.4 | — | 619.9 | |||||||||||||||||||||
Deferred income taxes | — | — | 113.8 | 8.7 | 122.5 | (113.8 | ) | 8.7 | ||||||||||||||||||||
Prepayments and other current assets | — | 26.1 | 83.7 | 130.1 | 213.8 | (2.5 | ) | 237.4 | ||||||||||||||||||||
Inventories | — | 0.3 | 28.4 | 16.9 | 45.3 | — | 45.6 | |||||||||||||||||||||
Intercompany receivables | 0.8 | 358.7 | 146.2 | 68.4 | 214.6 | (574.1 | ) | — | ||||||||||||||||||||
Assets held for sale | — | — | — | — | — | — | — | |||||||||||||||||||||
Total current assets | 144.7 | 1,426.90 | 1,078.20 | 1,810.90 | 2,889.10 | (690.4 | ) | 3,770.30 | ||||||||||||||||||||
Property and equipment, net | — | 204.9 | 6,980.10 | 6,056.40 | 13,036.50 | (3.5 | ) | 13,237.90 | ||||||||||||||||||||
Goodwill | — | — | 1,260.20 | 1,803.10 | 3,063.30 | — | 3,063.30 | |||||||||||||||||||||
Intangible assets other than goodwill | — | 3.5 | 2,837.50 | 646.7 | 3,484.20 | — | 3,487.70 | |||||||||||||||||||||
Investments in subsidiaries | — | 8,712.10 | 258.1 | 958.1 | 1,216.20 | (9,928.3 | ) | — | ||||||||||||||||||||
Investments in and advances to non-consolidated affiliates | — | — | 3.5 | 173.3 | 176.8 | — | 176.8 | |||||||||||||||||||||
Restricted cash | 20 | — | — | 316.8 | 316.8 | — | 336.8 | |||||||||||||||||||||
Deferred charges and other | 1 | 283.5 | 154.8 | 258.3 | 413.1 | (93.4 | ) | 604.2 | ||||||||||||||||||||
Deferred income taxes | 7.8 | 254.7 | — | 11.3 | 11.3 | (273.8 | ) | — | ||||||||||||||||||||
Intercompany receivables | 340.5 | 1,092.80 | 585.4 | 55 | 640.4 | (2,073.7 | ) | — | ||||||||||||||||||||
Assets held for sale | — | — | 11.9 | — | 11.9 | — | 11.9 | |||||||||||||||||||||
$ | 514 | $ | 11,978.40 | $ | 13,169.70 | $ | 12,089.90 | $ | 25,259.60 | $ | (13,063.1 | ) | $ | 24,688.90 | ||||||||||||||
Liabilities and Stockholders’ Equity/(Deficit) | ||||||||||||||||||||||||||||
Current liabilities | ||||||||||||||||||||||||||||
Accounts payable | $ | 0.3 | $ | 101 | $ | 181.7 | $ | 159.7 | $ | 341.4 | $ | — | $ | 442.7 | ||||||||||||||
Accrued expenses and other current liabilities | 3.8 | 187.5 | 486.6 | 536.9 | 1,023.50 | (2.5 | ) | 1,212.30 | ||||||||||||||||||||
Interest payable | — | 282.4 | 1.4 | 105.7 | 107.1 | — | 389.5 | |||||||||||||||||||||
Deferred income taxes | — | 363.5 | — | 39.5 | 39.5 | (113.8 | ) | 289.2 | ||||||||||||||||||||
Current portion of long-term debt | — | 86 | 23.6 | 87.5 | 111.1 | — | 197.1 | |||||||||||||||||||||
Intercompany payables | 5.3 | 9.6 | 317.3 | 241.9 | 559.2 | (574.1 | ) | — | ||||||||||||||||||||
Total current liabilities | 9.4 | 1,030.00 | 1,010.60 | 1,171.20 | 2,181.80 | (690.4 | ) | 2,530.80 | ||||||||||||||||||||
Long-term debt | — | 16,034.00 | 92.1 | 5,768.90 | 5,861.00 | (976.6 | ) | 20,918.40 | ||||||||||||||||||||
Accumulated losses of subsidiaries in excess of investment | 3,582.10 | — | — | — | — | (3,582.1 | ) | — | ||||||||||||||||||||
Deferred credits and other | — | 317.9 | 214.3 | 222.5 | 436.8 | (87.2 | ) | 667.5 | ||||||||||||||||||||
Deferred income taxes | — | 14.6 | 1,552.20 | 1,176.10 | 2,728.30 | (266.9 | ) | 2,476.00 | ||||||||||||||||||||
Intercompany payables | 55 | 285.4 | 871.2 | 862.1 | 1,733.30 | (2,073.7 | ) | — | ||||||||||||||||||||
Liabilities held for sale | — | — | — | — | — | — | — | |||||||||||||||||||||
3,646.50 | 17,681.90 | 3,740.40 | 9,200.80 | 12,941.20 | (7,676.9 | ) | 26,592.70 | |||||||||||||||||||||
Total Caesars stockholders’ equity/(deficit) | (3,132.5 | ) | (5,703.5 | ) | 9,429.30 | 1,670.90 | 11,100.20 | (5,386.2 | ) | (3,122.0 | ) | |||||||||||||||||
Noncontrolling interests | — | — | — | 1,218.20 | 1,218.20 | — | 1,218.20 | |||||||||||||||||||||
Total equity/(deficit) | (3,132.5 | ) | (5,703.5 | ) | 9,429.30 | 2,889.10 | 12,318.40 | (5,386.2 | ) | (1,903.8 | ) | |||||||||||||||||
$ | 514 | $ | 11,978.40 | $ | 13,169.70 | $ | 12,089.90 | $ | 25,259.60 | $ | (13,063.1 | ) | $ | 24,688.90 | ||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET | ||||||||||||||||||||||||||||
DECEMBER 31, 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 | ||||||||||||||||||||||||||||
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, net | 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’ Equity/(Deficit) | ||||||||||||||||||||||||||||
Current liabilities | ||||||||||||||||||||||||||||
Accounts payable | $ | 3.9 | $ | 75.9 | $ | 156.5 | $ | 139.9 | $ | 296.4 | $ | — | $ | 376.2 | ||||||||||||||
Accrued expenses and other current liabilities | 3.7 | 164.7 | 434.7 | 495.4 | 930.1 | — | 1,098.50 | |||||||||||||||||||||
Interest payable | — | 176 | 0.4 | 57.3 | 57.7 | — | 233.7 | |||||||||||||||||||||
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 | ) | — | ||||||||||||||||||||
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’ equity/(deficit) | (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 equity/(deficit) | (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 Income/(Loss) | ' | |||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) | ||||||||||||||||||||||||||||
FOR THE YEAR ENDED DECEMBER 31, 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 | $ | — | $ | 56.4 | $ | 3,617.80 | $ | 2,134.60 | $ | 5,752.40 | $ | — | $ | 5,808.80 | ||||||||||||||
Food and beverage | — | 13.2 | 821.1 | 675.7 | 1,496.80 | — | 1,510.00 | |||||||||||||||||||||
Rooms | — | 15.9 | 628.7 | 575 | 1,203.70 | — | 1,219.60 | |||||||||||||||||||||
Management fees | — | 1.2 | 54.2 | 23.2 | 77.4 | (21.6 | ) | 57 | ||||||||||||||||||||
Other | — | 55 | 332 | 672.7 | 1,004.70 | (184.9 | ) | 874.8 | ||||||||||||||||||||
Reimbursed management costs | — | 0.1 | 52.7 | 233.8 | 286.5 | (18.5 | ) | 268.1 | ||||||||||||||||||||
Less: casino promotional allowances | — | (17.3 | ) | (698.6 | ) | (462.7 | ) | (1,161.3 | ) | — | (1,178.6 | ) | ||||||||||||||||
Net revenues | — | 124.5 | 4,807.90 | 3,852.30 | 8,660.20 | (225.0 | ) | 8,559.70 | ||||||||||||||||||||
Operating expenses | ||||||||||||||||||||||||||||
Direct | ||||||||||||||||||||||||||||
Casino | — | 36.7 | 2,075.60 | 1,168.20 | 3,243.80 | — | 3,280.50 | |||||||||||||||||||||
Food and beverage | — | 5.7 | 339.5 | 313.2 | 652.7 | — | 658.4 | |||||||||||||||||||||
Rooms | — | 2.4 | 145.5 | 157.5 | 303 | — | 305.4 | |||||||||||||||||||||
Property, general, administrative, and other | — | 31.5 | 1,166.10 | 1,137.30 | 2,303.40 | (166.3 | ) | 2,168.60 | ||||||||||||||||||||
Reimbursable management costs | — | 0.1 | 52.7 | 233.8 | 286.5 | (18.5 | ) | 268.1 | ||||||||||||||||||||
Depreciation and amortization | — | 4 | 342.3 | 219.1 | 561.4 | (0.2 | ) | 565.2 | ||||||||||||||||||||
Write-downs, reserves, and project opening costs, net of recoveries | — | 0.4 | 33.5 | 70.5 | 104 | — | 104.4 | |||||||||||||||||||||
Impairment of intangible and tangible assets | — | 0.9 | 1,866.60 | 1,151.40 | 3,018.00 | — | 3,018.90 | |||||||||||||||||||||
(Income)/loss on interests in non-consolidated affiliates | (0.4 | ) | — | (0.6 | ) | 18.6 | 18 | — | 17.6 | |||||||||||||||||||
(Income)/loss on interests in subsidiaries | 2,923.00 | 1,008.20 | 102.2 | — | 102.2 | (4,033.4 | ) | — | ||||||||||||||||||||
Corporate expense | 16 | 115.7 | 21.8 | 48 | 69.8 | (40.1 | ) | 161.4 | ||||||||||||||||||||
Acquisition and integration costs | — | 12.3 | 0.1 | 68.9 | 69 | — | 81.3 | |||||||||||||||||||||
Amortization of intangible assets | — | 0.7 | 86.7 | 77.1 | 163.8 | — | 164.5 | |||||||||||||||||||||
Total operating expenses | 2,938.60 | 1,218.60 | 6,232.00 | 4,663.60 | 10,895.60 | (4,258.5 | ) | 10,794.30 | ||||||||||||||||||||
Iincome/(loss) from operations | (2,938.6 | ) | (1,094.1 | ) | (1,424.1 | ) | (811.3 | ) | (2,235.4 | ) | 4,033.50 | (2,234.6 | ) | |||||||||||||||
Interest expense | 2.3 | (2,075.5 | ) | (57.5 | ) | (350.1 | ) | (407.6 | ) | 227.8 | (2,253.0 | ) | ||||||||||||||||
Gains/(losses) on early extinguishments of debt | — | (29.5 | ) | (2.0 | ) | 1.7 | (0.3 | ) | — | (29.8 | ) | |||||||||||||||||
Gain/(loss) on partial sale of subsidiary | — | — | (8.9 | ) | 53 | 44.1 | — | 44.1 | ||||||||||||||||||||
Other income, including interest income | 23.1 | 60.5 | 22.8 | 190.9 | 213.7 | (283.5 | ) | 13.8 | ||||||||||||||||||||
Income/(loss) from continuing operations before income taxes | (2,913.2 | ) | (3,138.6 | ) | (1,469.7 | ) | (915.8 | ) | (2,385.5 | ) | 3,977.80 | (4,459.5 | ) | |||||||||||||||
Benefit/(provision) for income taxes | (0.1 | ) | 797.5 | 481.9 | 257.6 | 739.5 | 12.8 | 1,549.70 | ||||||||||||||||||||
Income/(loss) from continuing operations, net of income taxes | (2,913.3 | ) | (2,341.1 | ) | (987.8 | ) | (658.2 | ) | (1,646.0 | ) | 3,990.60 | (2,909.8 | ) | |||||||||||||||
Discontinued operations | — | |||||||||||||||||||||||||||
Income/(loss) from discontinued operations | — | — | (0.8 | ) | (29.0 | ) | (29.8 | ) | — | (29.8 | ) | |||||||||||||||||
Benefit/(provision) for income taxes | — | — | 0.3 | (0.5 | ) | (0.2 | ) | — | (0.2 | ) | ||||||||||||||||||
Loss from discontinued operations, net of income taxes | — | — | (0.5 | ) | (29.5 | ) | (30.0 | ) | — | (30.0 | ) | |||||||||||||||||
Net income/(loss) | (2,913.3 | ) | (2,341.1 | ) | (988.3 | ) | (687.7 | ) | (1,676.0 | ) | 3,990.60 | (2,939.8 | ) | |||||||||||||||
Less: net income attributable to noncontrolling interests | — | — | — | (8.4 | ) | (8.4 | ) | — | (8.4 | ) | ||||||||||||||||||
Net income/(loss) attributable to Caesars | (2,913.3 | ) | (2,341.1 | ) | (988.3 | ) | (696.1 | ) | (1,684.4 | ) | 3,990.60 | (2,948.2 | ) | |||||||||||||||
Other comprehensive income/(loss), net of income taxes: | ||||||||||||||||||||||||||||
Total other comprehensive income/(loss), net of income taxes | — | 3.5 | — | 79.3 | 79.3 | (121.2 | ) | (38.4 | ) | |||||||||||||||||||
Less: foreign currency translation adjustments attributable to noncontrolling interests, net of income taxes | — | — | — | 0.1 | 0.1 | — | 0.1 | |||||||||||||||||||||
Comprehensive income/(loss) attributable to Caesars | $ | (2,913.3 | ) | $ | (2,337.6 | ) | $ | (988.3 | ) | $ | (616.7 | ) | $ | (1,605.0 | ) | $ | 3,869.40 | $ | (2,986.5 | ) | ||||||||
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) | ||||||||||||||||||||||||||||
FOR THE YEAR ENDED DECEMBER 31, 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 | $ | — | $ | 53.9 | $ | 3,875.50 | $ | 2,313.60 | $ | 6,189.10 | $ | — | $ | 6,243.00 | ||||||||||||||
Food and beverage | — | 12.5 | 812.8 | 682.3 | 1,495.10 | — | 1,507.60 | |||||||||||||||||||||
Rooms | — | 17.8 | 626.3 | 561.4 | 1,187.70 | — | 1,205.50 | |||||||||||||||||||||
Management fees | — | 3.9 | 56.2 | 11.6 | 67.8 | (24.4 | ) | 47.3 | ||||||||||||||||||||
Other | — | 54 | 347.1 | 541.3 | 888.4 | (180.4 | ) | 762 | ||||||||||||||||||||
Reimbursed management costs | — | — | 28.4 | 38.7 | 67.1 | — | 67.1 | |||||||||||||||||||||
Less: casino promotional allowances | — | (19.0 | ) | (744.3 | ) | (488.8 | ) | (1,233.1 | ) | — | (1,252.1 | ) | ||||||||||||||||
Net revenues | — | 123.1 | 5,002.00 | 3,660.10 | 8,662.10 | (204.8 | ) | 8,580.40 | ||||||||||||||||||||
Operating expenses | ||||||||||||||||||||||||||||
Direct | ||||||||||||||||||||||||||||
Casino | — | 37.7 | 2,204.80 | 1,310.50 | 3,515.30 | — | 3,553.00 | |||||||||||||||||||||
Food and beverage | — | 5.9 | 330.9 | 320.8 | 651.7 | — | 657.6 | |||||||||||||||||||||
Rooms | — | 1.7 | 140.4 | 155.5 | 295.9 | — | 297.6 | |||||||||||||||||||||
Property, general, administrative, and other | — | 23.5 | 1,137.40 | 1,041.30 | 2,178.70 | (158.7 | ) | 2,043.50 | ||||||||||||||||||||
Reimbursable management costs | — | — | 28.4 | 38.7 | 67.1 | — | 67.1 | |||||||||||||||||||||
Depreciation and amortization | — | 6.7 | 445.4 | 262.3 | 707.7 | — | 714.4 | |||||||||||||||||||||
Write-downs, reserves, and project opening costs, net of recoveries | 15 | 12.1 | 57.1 | 15.5 | 72.6 | — | 99.7 | |||||||||||||||||||||
Impairment of intangible and tangible assets | — | — | 1,064.70 | 9.5 | 1,074.20 | — | 1,074.20 | |||||||||||||||||||||
Loss on interests in non-consolidated affiliates | — | — | 0.5 | 17 | 17.5 | — | 17.5 | |||||||||||||||||||||
(Income)/loss on interests in subsidiaries | 1,464.30 | 460.8 | (6.6 | ) | — | (6.6 | ) | (1,918.5 | ) | — | ||||||||||||||||||
Corporate expense | 28.2 | 126.1 | 32 | 54.9 | 86.9 | (46.2 | ) | 195 | ||||||||||||||||||||
Acquisition and integration costs | — | 4.8 | — | 1.3 | 1.3 | — | 6.1 | |||||||||||||||||||||
Amortization of intangible assets | — | 0.7 | 102.3 | 71.6 | 173.9 | — | 174.6 | |||||||||||||||||||||
Total operating expenses | 1,507.50 | 680 | 5,537.30 | 3,298.90 | 8,836.20 | (2,123.4 | ) | 8,900.30 | ||||||||||||||||||||
Income/(loss) from operations | (1,507.5 | ) | (556.9 | ) | (535.3 | ) | 361.2 | (174.1 | ) | 1,918.60 | (319.9 | ) | ||||||||||||||||
Interest expense | (1.0 | ) | (1,934.2 | ) | (55.5 | ) | (336.6 | ) | (392.1 | ) | 227 | (2,100.3 | ) | |||||||||||||||
Gains on early extinguishments of debt | — | — | — | 136 | 136 | — | 136 | |||||||||||||||||||||
Other income, including interest income | 18.3 | 79.2 | 21.2 | 159 | 180.2 | (252.2 | ) | 25.5 | ||||||||||||||||||||
Income/(loss) from continuing operations before income taxes | (1,490.2 | ) | (2,411.9 | ) | (569.6 | ) | 319.6 | (250.0 | ) | 1,893.40 | (2,258.7 | ) | ||||||||||||||||
Benefit/(provision) for income taxes | 9.1 | 732 | 174.4 | (88.5 | ) | 85.9 | 43.5 | 870.5 | ||||||||||||||||||||
Income/(loss)from continuing operations, net of income taxes | (1,481.1 | ) | (1,679.9 | ) | (395.2 | ) | 231.1 | (164.1 | ) | 1,936.90 | (1,388.2 | ) | ||||||||||||||||
Discontinued operations | ||||||||||||||||||||||||||||
Income/(loss) from discontinued operations | — | — | 62.1 | (126.6 | ) | (64.5 | ) | — | (64.5 | ) | ||||||||||||||||||
Benefit/(provision) for income taxes | — | — | (29.1 | ) | 13.7 | (15.4 | ) | (34.7 | ) | (50.1 | ) | |||||||||||||||||
Income/(loss) from discontinued operations, net of income taxes | — | — | 33 | (112.9 | ) | (79.9 | ) | (34.7 | ) | (114.6 | ) | |||||||||||||||||
Net income/(loss) | (1,481.1 | ) | (1,679.9 | ) | (362.2 | ) | 118.2 | (244.0 | ) | 1,902.20 | (1,502.8 | ) | ||||||||||||||||
Less: net income attributable to noncontrolling interests | — | — | — | (5.3 | ) | (5.3 | ) | — | (5.3 | ) | ||||||||||||||||||
Net income/(loss) attributable to Caesars | (1,481.1 | ) | (1,679.9 | ) | (362.2 | ) | 112.9 | (249.3 | ) | 1,902.20 | (1,508.1 | ) | ||||||||||||||||
Other comprehensive income/(loss), net of income taxes: | ||||||||||||||||||||||||||||
Total other comprehensive income/(loss), net of income taxes | — | (25.0 | ) | — | (34.4 | ) | (34.4 | ) | 96.6 | 37.2 | ||||||||||||||||||
Less: foreign currency translation adjustments attributable to noncontrolling interests, net of income taxes | — | — | — | (1.1 | ) | (1.1 | ) | — | (1.1 | ) | ||||||||||||||||||
Comprehensive income/(loss) attributable to Caesars | $ | (1,481.1 | ) | $ | (1,704.9 | ) | $ | (362.2 | ) | $ | 77.4 | $ | (284.8 | ) | $ | 1,998.80 | $ | (1,472.0 | ) | |||||||||
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) | ||||||||||||||||||||||||||||
FOR THE YEAR ENDED DECEMBER 31, 2011 | ||||||||||||||||||||||||||||
(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 | $ | — | $ | 62.6 | $ | 3,952.20 | $ | 2,375.10 | $ | 6,327.30 | $ | — | $ | 6,389.90 | ||||||||||||||
Food and beverage | — | 14.2 | 820.7 | 671.2 | 1,491.90 | — | 1,506.10 | |||||||||||||||||||||
Rooms | — | 16.7 | 605.8 | 570.6 | 1,176.40 | — | 1,193.10 | |||||||||||||||||||||
Management fees | — | — | 66.1 | 3 | 69.1 | (33.3 | ) | 35.8 | ||||||||||||||||||||
Other | — | 46.5 | 353.1 | 393 | 746.1 | (145.5 | ) | 647.1 | ||||||||||||||||||||
Reimbursed management costs | — | — | 26.9 | — | 26.9 | — | 26.9 | |||||||||||||||||||||
Less: casino promotional allowances | — | (19.0 | ) | (725.6 | ) | (487.7 | ) | (1,213.3 | ) | — | (1,232.3 | ) | ||||||||||||||||
Net revenues | — | 121 | 5,099.20 | 3,525.20 | 8,624.40 | (178.8 | ) | 8,566.60 | ||||||||||||||||||||
Operating expenses | ||||||||||||||||||||||||||||
Direct | ||||||||||||||||||||||||||||
Casino | — | 40.9 | 2,243.80 | 1,330.50 | 3,574.30 | — | 3,615.20 | |||||||||||||||||||||
Food and beverage | — | 6.7 | 337.8 | 312.5 | 650.3 | — | 657 | |||||||||||||||||||||
Rooms | — | 2 | 133.3 | 150.9 | 284.2 | — | 286.2 | |||||||||||||||||||||
Property, general, administrative, and other | — | 54.2 | 1,208.80 | 971 | 2,179.80 | (140.5 | ) | 2,093.50 | ||||||||||||||||||||
Reimbursable management costs | — | — | 26.9 | — | 26.9 | — | 26.9 | |||||||||||||||||||||
Depreciation and amortization | — | 6.8 | 427.5 | 242.7 | 670.2 | — | 677 | |||||||||||||||||||||
Write-downs, reserves, and project opening costs, net of recoveries | — | 46.6 | 24.6 | 2.6 | 27.2 | — | 73.8 | |||||||||||||||||||||
Impairment of intangible and tangible assets | — | — | 11 | 21.8 | 32.8 | — | 32.8 | |||||||||||||||||||||
Loss on interests in non-consolidated affiliates | — | — | 1.8 | 6.1 | 7.9 | — | 7.9 | |||||||||||||||||||||
(Income)/loss on interests in subsidiaries | 693.4 | (421.9 | ) | (44.7 | ) | — | (44.7 | ) | (226.8 | ) | — | |||||||||||||||||
Corporate expense | 22.7 | 98.4 | 22.3 | 47.7 | 70 | (38.3 | ) | 152.8 | ||||||||||||||||||||
Acquisition and integration costs | 0.1 | 1 | 1.1 | 2.1 | 3.2 | — | 4.3 | |||||||||||||||||||||
Amortization of intangible assets | — | 0.7 | 93.6 | 62.4 | 156 | — | 156.7 | |||||||||||||||||||||
Total operating expenses | 716.2 | (164.6 | ) | 4,487.80 | 3,150.30 | 7,638.10 | (405.6 | ) | 7,784.10 | |||||||||||||||||||
Income/(loss) from operations | (716.2 | ) | 285.6 | 611.4 | 374.9 | 986.3 | 226.8 | 782.5 | ||||||||||||||||||||
Interest expense | — | (1,953.3 | ) | (50.2 | ) | (328.0 | ) | (378.2 | ) | 209.8 | (2,121.7 | ) | ||||||||||||||||
Gains on early extinguishments of debt | — | — | — | 47.9 | 47.9 | — | 47.9 | |||||||||||||||||||||
Other income, including interest income | 25.5 | 70.7 | 17.6 | 134.2 | 151.8 | (222.7 | ) | 25.3 | ||||||||||||||||||||
Income/(loss) from continuing operations before income taxes | (690.7 | ) | (1,597.0 | ) | 578.8 | 229 | 807.8 | 213.9 | (1,266.0 | ) | ||||||||||||||||||
Benefit/(provision) for income taxes | 3.1 | 776.8 | (215.3 | ) | (46.1 | ) | (261.4 | ) | 16.1 | 534.6 | ||||||||||||||||||
Income/(loss) from continuing operations, net of income taxes | (687.6 | ) | (820.2 | ) | 363.5 | 182.9 | 546.4 | 230 | (731.4 | ) | ||||||||||||||||||
Discontinued operations | ||||||||||||||||||||||||||||
Income/(loss) from discontinued operations | — | — | 75.3 | (20.2 | ) | 55.1 | — | 55.1 | ||||||||||||||||||||
Benefit/(provision) for income taxes | — | — | (13.4 | ) | 1.7 | (11.7 | ) | (16.1 | ) | (27.8 | ) | |||||||||||||||||
Income/(loss) from discontinued operations, net of income taxes | — | — | 61.9 | (18.5 | ) | 43.4 | (16.1 | ) | 27.3 | |||||||||||||||||||
Net income/(loss) | (687.6 | ) | (820.2 | ) | 425.4 | 164.4 | 589.8 | 213.9 | (704.1 | ) | ||||||||||||||||||
Less: net income attributable to noncontrolling interests | — | — | — | (20.9 | ) | (20.9 | ) | — | (20.9 | ) | ||||||||||||||||||
Net income/(loss) attributable to Caesars | (687.6 | ) | (820.2 | ) | 425.4 | 143.5 | 568.9 | 213.9 | (725.0 | ) | ||||||||||||||||||
Other comprehensive income/(loss), net of income taxes: | ||||||||||||||||||||||||||||
Total other comprehensive income/(loss), net of income taxes | — | 112.9 | — | (1.8 | ) | (1.8 | ) | — | 111.1 | |||||||||||||||||||
Less: foreign currency translation adjustments attributable to noncontrolling interests, net of income taxes | — | — | — | (1.3 | ) | (1.3 | ) | — | (1.3 | ) | ||||||||||||||||||
Comprehensive income/(loss) attributable to Caesars | $ | (687.6 | ) | $ | (707.3 | ) | $ | 425.4 | $ | 140.4 | $ | 565.8 | $ | 213.9 | $ | (615.2 | ) | |||||||||||
Condensed Consolidating Statement of Cash Flows | ' | |||||||||||||||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | ||||||||||||||||||||||||||||
FOR THE YEAR ENDED DECEMBER 31, 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 from operating activities | $ | 407.9 | $ | (906.6 | ) | $ | 330 | $ | 52.2 | $ | 382.2 | $ | 7.1 | $ | (109.4 | ) | ||||||||||||
Cash flows from investing activities | ||||||||||||||||||||||||||||
Acquisitions of property and equipment, net of change in related payables | — | (18.7 | ) | (376.5 | ) | (331.1 | ) | (707.6 | ) | — | (726.3 | ) | ||||||||||||||||
Change in restricted cash | (50.5 | ) | — | (1.0 | ) | 825.4 | 824.4 | — | 773.9 | |||||||||||||||||||
Purchase of additional interest in subsidiaries | (581.2 | ) | (15.8 | ) | — | — | — | 597 | — | |||||||||||||||||||
Purchase of Linq/Octavius from non-guarantor | (80.7 | ) | — | — | 80.7 | 80.7 | — | — | ||||||||||||||||||||
Proceeds from partial sale of subsidiary, net of cash deconsolidated | — | — | (25.7 | ) | 76.1 | 50.4 | — | 50.4 | ||||||||||||||||||||
Payments to acquire businesses, net of transaction costs and cash acquired | — | — | — | (19.5 | ) | (19.5 | ) | — | (19.5 | ) | ||||||||||||||||||
Investments in/advances to non-consolidated affiliates and other | — | — | — | (38.6 | ) | (38.6 | ) | — | (38.6 | ) | ||||||||||||||||||
Dividends received | — | 831 | 74.2 | — | 74.2 | (905.2 | ) | — | ||||||||||||||||||||
Purchases of investment securities | — | — | — | (30.0 | ) | (30.0 | ) | — | (30.0 | ) | ||||||||||||||||||
Proceeds from the sale and maturity of investment securities | — | — | — | 67.4 | 67.4 | — | 67.4 | |||||||||||||||||||||
Proceeds received from (paid for) sale of assets | (29.0 | ) | 29 | — | — | — | — | — | ||||||||||||||||||||
Other | (0.4 | ) | — | (8.9 | ) | (3.2 | ) | (12.1 | ) | — | (12.5 | ) | ||||||||||||||||
Cash flows from investing activities | (741.8 | ) | 825.5 | (337.9 | ) | 627.2 | 289.3 | (308.2 | ) | 64.8 | ||||||||||||||||||
Cash flows from financing activities | ||||||||||||||||||||||||||||
Proceeds from the issuance of long-term debt | — | 127.2 | — | 5,911.50 | 5,911.50 | — | 6,038.70 | |||||||||||||||||||||
Assumption of debt issued by non-guarantors | — | 2,199.40 | — | (2,199.4 | ) | (2,199.4 | ) | — | — | |||||||||||||||||||
Debt issuance and extension costs and fees | — | (52.2 | ) | — | (100.6 | ) | (100.6 | ) | — | (152.8 | ) | |||||||||||||||||
Cash paid for early extinguishments of debt | — | (1,783.3 | ) | — | (4,728.8 | ) | (4,728.8 | ) | — | (6,512.1 | ) | |||||||||||||||||
Scheduled debt retirements | — | (91.3 | ) | (1.5 | ) | — | (1.5 | ) | — | (92.8 | ) | |||||||||||||||||
Dividends paid | — | — | (48.4 | ) | (856.8 | ) | (905.2 | ) | 905.2 | — | ||||||||||||||||||
Purchase of additional interests in subsidiaries | — | — | — | (10.0 | ) | (10.0 | ) | — | (10.0 | ) | ||||||||||||||||||
Sales of noncontrolling interests, net of fees | — | — | — | 1,197.50 | 1,197.50 | — | 1,197.50 | |||||||||||||||||||||
Distributions to noncontrolling interest owners | — | — | — | (19.9 | ) | (19.9 | ) | — | (19.9 | ) | ||||||||||||||||||
Issuance of common stock, net of fees | 217.2 | — | — | — | — | — | 217.2 | |||||||||||||||||||||
Other | — | — | (8.2 | ) | (6.5 | ) | (14.7 | ) | — | (14.7 | ) | |||||||||||||||||
Transfer (to)/from affiliates | 222.6 | (234.2 | ) | 6.3 | 609.4 | 615.7 | (604.1 | ) | — | |||||||||||||||||||
Cash flows from financing activities | 439.8 | 165.6 | (51.8 | ) | (203.6 | ) | (255.4 | ) | 301.1 | 651.1 | ||||||||||||||||||
Cash flows from discontinued operations | ||||||||||||||||||||||||||||
Cash flows from operating activities | — | — | (0.5 | ) | (8.9 | ) | (9.4 | ) | — | (9.4 | ) | |||||||||||||||||
Cash flows from investing activities | — | — | — | 411.9 | 411.9 | — | 411.9 | |||||||||||||||||||||
Cash flows from financing activities | — | — | — | — | — | — | — | |||||||||||||||||||||
Net cash from discontinued operations | — | — | (0.5 | ) | 403 | 402.5 | — | 402.5 | ||||||||||||||||||||
Net increase/(decrease) in cash and cash equivalents | 105.9 | 84.5 | (60.2 | ) | 878.8 | 818.6 | — | 1,009.00 | ||||||||||||||||||||
Change in cash classified as assets held for sale | — | — | — | 4.7 | 4.7 | — | 4.7 | |||||||||||||||||||||
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 | $ | 113.3 | $ | 996.4 | $ | 293.6 | $ | 1,367.90 | $ | 1,661.50 | $ | — | $ | 2,771.20 | ||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | ||||||||||||||||||||||||||||
FOR THE YEAR ENDED DECEMBER 31, 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 from operating activities | $ | 258.6 | $ | 94.6 | $ | (505.1 | ) | $ | 144.9 | $ | (360.2 | ) | $ | 37.2 | $ | 30.2 | ||||||||||||
Cash flows from investing activities | ||||||||||||||||||||||||||||
Acquisitions of property and equipment, net of change in related payables | — | (9.6 | ) | (205.3 | ) | (292.2 | ) | (497.5 | ) | — | (507.1 | ) | ||||||||||||||||
Change in restricted cash | — | — | — | (680.5 | ) | (680.5 | ) | — | (680.5 | ) | ||||||||||||||||||
Return of investment in subsidiary | — | — | 92.5 | — | 92.5 | (92.5 | ) | — | ||||||||||||||||||||
Purchase of additional interest in subsidiary | (232.5 | ) | (28.1 | ) | — | — | — | 260.6 | — | |||||||||||||||||||
Proceeds from the sale of subsidiary, net of cash contributed | — | — | — | 42.4 | 42.4 | — | 42.4 | |||||||||||||||||||||
Payments to acquire businesses, net of transaction costs and cash acquired | — | — | — | (37.9 | ) | (37.9 | ) | — | (37.9 | ) | ||||||||||||||||||
Investments in/advances to non-consolidated affiliates and other | — | — | — | (28.1 | ) | (28.1 | ) | — | (28.1 | ) | ||||||||||||||||||
Purchases of investment securities | — | — | — | (39.2 | ) | (39.2 | ) | — | (39.2 | ) | ||||||||||||||||||
Proceeds from the sale and maturity of investment securities | — | — | — | 31.6 | 31.6 | — | 31.6 | |||||||||||||||||||||
Other | (0.8 | ) | — | (6.8 | ) | 2.1 | (4.7 | ) | — | (5.5 | ) | |||||||||||||||||
Cash flows from investing activities | (233.3 | ) | (37.7 | ) | (119.6 | ) | (1,001.8 | ) | (1,121.4 | ) | 168.1 | (1,224.3 | ) | |||||||||||||||
Cash flows from financing activities | ||||||||||||||||||||||||||||
Proceeds from the issuance of long-term debt | — | 432.2 | — | 3,277.20 | 3,277.20 | — | 3,709.40 | |||||||||||||||||||||
Assumption of debt issued by non-guarantors | — | 1,981.30 | — | (1,981.3 | ) | (1,981.3 | ) | — | — | |||||||||||||||||||
Debt issuance costs and fees | — | (38.9 | ) | — | (11.7 | ) | (11.7 | ) | — | (50.6 | ) | |||||||||||||||||
Borrowings under lending agreements | — | 453 | — | — | — | — | 453 | |||||||||||||||||||||
Repayments under lending agreements | — | (608.0 | ) | — | — | — | — | (608.0 | ) | |||||||||||||||||||
Cash paid for early extinguishments of debt | — | (1,574.3 | ) | — | (462.3 | ) | (462.3 | ) | — | (2,036.6 | ) | |||||||||||||||||
Scheduled debt retirements | — | (14.4 | ) | (1.4 | ) | — | (1.4 | ) | — | (15.8 | ) | |||||||||||||||||
Purchase of additional interests in subsidiary | — | — | (9.6 | ) | — | (9.6 | ) | — | (9.6 | ) | ||||||||||||||||||
Sale of noncontrolling interests, net of fees | — | — | — | 37.6 | 37.6 | — | 37.6 | |||||||||||||||||||||
Distributions to noncontrolling interest owners | — | — | — | (10.7 | ) | (10.7 | ) | — | (10.7 | ) | ||||||||||||||||||
Issuance of common stock, net of fees | 17.4 | — | — | — | — | — | 17.4 | |||||||||||||||||||||
Other | — | — | (10.8 | ) | (2.7 | ) | (13.5 | ) | — | (13.5 | ) | |||||||||||||||||
Transfer (to)/from affiliates | (39.2 | ) | 207.5 | — | 2.3 | 2.3 | (170.6 | ) | — | |||||||||||||||||||
Cash flows from financing activities | (21.8 | ) | 838.4 | (21.8 | ) | 848.4 | 826.6 | (170.6 | ) | 1,472.60 | ||||||||||||||||||
Cash flows from discontinued operations | ||||||||||||||||||||||||||||
Cash flows from operating activities | — | — | 17.5 | (3.4 | ) | 14.1 | (34.7 | ) | (20.6 | ) | ||||||||||||||||||
Cash flows from investing activities | — | — | 600.3 | (0.6 | ) | 599.7 | — | 599.7 | ||||||||||||||||||||
Cash flows from financing activities | — | — | — | — | — | — | — | |||||||||||||||||||||
Net cash provided by discontinued operations | — | — | 617.8 | (4.0 | ) | 613.8 | (34.7 | ) | 579.1 | |||||||||||||||||||
Net increase/(decrease)in cash and cash equivalents | 3.5 | 895.3 | (28.7 | ) | (12.5 | ) | (41.2 | ) | — | 857.6 | ||||||||||||||||||
Change in cash classified as assets held for sale | — | — | 10 | (1.3 | ) | 8.7 | — | 8.7 | ||||||||||||||||||||
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 | $ | 7.4 | $ | 911.9 | $ | 353.8 | $ | 484.4 | $ | 838.2 | $ | — | $ | 1,757.50 | ||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | ||||||||||||||||||||||||||||
FOR THE YEAR ENDED DECEMBER 31, 2011 | ||||||||||||||||||||||||||||
(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 from operating activities | $ | 182.9 | $ | (507.6 | ) | $ | 72.7 | $ | 298.9 | $ | 371.6 | $ | 16.1 | $ | 63 | |||||||||||||
Cash flows from investing activities | ||||||||||||||||||||||||||||
Acquisitions of property and equipment, net of change in related payables | — | (12.3 | ) | (108.1 | ) | (152.1 | ) | (260.2 | ) | — | (272.5 | ) | ||||||||||||||||
Change in restricted cash | — | — | — | (517.7 | ) | (517.7 | ) | — | (517.7 | ) | ||||||||||||||||||
Purchase of additional interest in subsidiary | — | — | — | (75.4 | ) | (75.4 | ) | — | (75.4 | ) | ||||||||||||||||||
Payments to acquire certain gaming rights | — | — | — | (22.7 | ) | (22.7 | ) | — | (22.7 | ) | ||||||||||||||||||
Payments to acquire businesses, net of transaction costs and cash acquired | (123.5 | ) | (136.7 | ) | (49.1 | ) | (19.0 | ) | (68.1 | ) | 309.3 | (19.0 | ) | |||||||||||||||
Investments in/advances to non-consolidated affiliates and other | — | — | — | (76.0 | ) | (76.0 | ) | — | (76.0 | ) | ||||||||||||||||||
Purchases of investment securities | — | — | — | (35.7 | ) | (35.7 | ) | — | (35.7 | ) | ||||||||||||||||||
Proceeds from the sale and maturity of investment securities | — | — | — | 22.6 | 22.6 | — | 22.6 | |||||||||||||||||||||
Other | — | — | (3.8 | ) | (6.1 | ) | (9.9 | ) | — | (9.9 | ) | |||||||||||||||||
Cash flows from investing activities | (123.5 | ) | (149.0 | ) | (161.0 | ) | (882.1 | ) | (1,043.1 | ) | 309.3 | (1,006.3 | ) | |||||||||||||||
Cash flows from financing activities | ||||||||||||||||||||||||||||
Proceeds from the issuance of long-term debt | — | 418.3 | — | 445.5 | 445.5 | — | 863.8 | |||||||||||||||||||||
Debt issuance costs and fees | — | (3.2 | ) | — | (14.9 | ) | (14.9 | ) | — | (18.1 | ) | |||||||||||||||||
Borrowings under lending agreements | — | 358 | — | — | — | — | 358 | |||||||||||||||||||||
Repayments under lending agreements | — | (203.0 | ) | — | — | — | — | (203.0 | ) | |||||||||||||||||||
Cash paid for early extinguishments of debt | — | — | (2.6 | ) | (125.9 | ) | (128.5 | ) | — | (128.5 | ) | |||||||||||||||||
Scheduled debt retirements | — | (25.2 | ) | — | (18.5 | ) | (18.5 | ) | — | (43.7 | ) | |||||||||||||||||
Sale of noncontrolling interests, net of fees | — | — | — | 14.8 | 14.8 | — | 14.8 | |||||||||||||||||||||
Distributions to noncontrolling interest owners | — | — | — | (9.8 | ) | (9.8 | ) | — | (9.8 | ) | ||||||||||||||||||
Other | (1.7 | ) | — | (8.1 | ) | (12.2 | ) | (20.3 | ) | — | (22.0 | ) | ||||||||||||||||
Transfer (to)/from affiliates | (189.8 | ) | 67.3 | 49.1 | 382.7 | 431.8 | (309.3 | ) | — | |||||||||||||||||||
Cash flows from financing activities | (191.5 | ) | 612.2 | 38.4 | 661.7 | 700.1 | (309.3 | ) | 811.5 | |||||||||||||||||||
Cash flows from discontinued operations | ||||||||||||||||||||||||||||
Cash flows from operating activities | — | — | 79.4 | (3.2 | ) | 76.2 | (16.1 | ) | 60.1 | |||||||||||||||||||
Cash flows from investing activities | — | — | (5.2 | ) | (5.5 | ) | (10.7 | ) | — | (10.7 | ) | |||||||||||||||||
Cash flows from financing activities | — | — | — | — | — | — | — | |||||||||||||||||||||
Net cash provided by discontinued operations | — | — | 74.2 | (8.7 | ) | 65.5 | (16.1 | ) | 49.4 | |||||||||||||||||||
Net increase/(decrease) in cash and cash equivalents | (132.1 | ) | (44.4 | ) | 24.3 | 69.8 | 94.1 | — | (82.4 | ) | ||||||||||||||||||
Change in cash classified as assets held for sale | — | — | 3.5 | (1.0 | ) | 2.5 | — | 2.5 | ||||||||||||||||||||
Cash and cash equivalents, beginning of period | 136 | 61 | 344.7 | 429.4 | 774.1 | — | 971.1 | |||||||||||||||||||||
Cash and cash equivalents, end of period | $ | 3.9 | $ | 16.6 | $ | 372.5 | $ | 498.2 | $ | 870.7 | $ | — | $ | 891.2 | ||||||||||||||
Quarterly_Results_of_Operation1
Quarterly Results of Operations (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | |||||||||||||||||||
Quarterly Results of Operations | ' | |||||||||||||||||||
(In millions) | First | Second | Third | Fourth | Total | |||||||||||||||
Quarter | Quarter | Quarter | Quarter (1) | |||||||||||||||||
2013 | ||||||||||||||||||||
Net revenues | $ | 2,143.20 | $ | 2,158.20 | $ | 2,180.00 | $ | 2,078.40 | $ | 8,559.70 | ||||||||||
Income/(loss) from operations (2) | 141.8 | 125.3 | (637.5 | ) | (1,864.2 | ) | (2,234.6 | ) | ||||||||||||
Net loss (2) | (216.7 | ) | (209.2 | ) | (761.8 | ) | (1,752.0 | ) | (2,939.8 | ) | ||||||||||
Net loss attributable to Caesars (2) | (217.6 | ) | (212.2 | ) | (761.4 | ) | (1,756.9 | ) | (2,948.2 | ) | ||||||||||
Loss per share - basic and diluted | (1.74 | ) | (1.69 | ) | (6.03 | ) | (12.83 | ) | (22.93 | ) | ||||||||||
2012 | ||||||||||||||||||||
Net revenues | $ | 2,206.10 | $ | 2,163.70 | $ | 2,195.80 | $ | 2,014.90 | $ | 8,580.40 | ||||||||||
Income/(loss) from operations (2) | 61.3 | 189.1 | (216.8 | ) | (353.4 | ) | (319.9 | ) | ||||||||||||
Net loss (2) | (281.1 | ) | (241.8 | ) | (503.4 | ) | (476.5 | ) | (1,502.8 | ) | ||||||||||
Net loss attributable to Caesars (2) | (280.6 | ) | (241.7 | ) | (505.5 | ) | (480.3 | ) | (1,508.1 | ) | ||||||||||
Loss per share - basic and diluted | (2.24 | ) | (1.93 | ) | (4.03 | ) | (3.84 | ) | (12.04 | ) | ||||||||||
____________________ | ||||||||||||||||||||
(1) | Amounts presented for the fourth quarter of 2012 have been recast to give effect to the Alea Leeds disposition (Note 4) and the pension accounting change (Note 21). In addition, the Company sold additional shares of common stock (Note 11), which had a material effect on the weighted average shares used in determining loss per share for the quarter. The table below recasts the amounts as originally presented in our 2012 Annual Report on Form 10-K. | |||||||||||||||||||
(2) | Amounts presented contain material impairments which affect the comparability from period to period. For more information on these impairments, see Notes 6 and 7. | |||||||||||||||||||
Fourth Quarter | ||||||||||||||||||||
(In millions) | 2012 | |||||||||||||||||||
Net revenues as reported | $ | 2,016.80 | ||||||||||||||||||
Less net revenues attributable to discontinued operations | (2.0 | ) | ||||||||||||||||||
Net revenues as recasted | $ | 2,014.90 | ||||||||||||||||||
Loss from operations as reported | $ | (343.6 | ) | |||||||||||||||||
Effect of pension accounting change (Note 21) | (10.6 | ) | ||||||||||||||||||
Less: loss from operations attributable to discontinued operations | 0.7 | |||||||||||||||||||
Loss from operations as recasted | $ | (353.4 | ) |
Description_of_Business_and_Ba1
Description of Business and Basis of Presentation (Details) (USD $) | 3 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||
Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Mar. 01, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Mar. 01, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | |||
business_segments | UNITED STATES | International [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Resort Properties [Member] | Caesars Entertainment Resort Properties [Member] | Caesars Entertainment Resort Properties [Member] | Caesars Growth Partners, LLC [Member] | Caesars Growth Partners, LLC [Member] | Revolving Credit Facility maturing Jan 28 2017 [Member] | Revolving Credit Facility maturing Jan 28 2017 [Member] | Subsequent Event [Member] | |||||||
Casinos | Casinos | Casinos | Maximum [Member] | Revolving Credit Facility maturing Jan 28 2017 [Member] | Revolving Credit Facility maturing Jan 28 2017 [Member] | Medium-term Notes [Member] | Maximum [Member] | CMBS Loan [Member] | Medium-term Notes [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Growth Partners, LLC [Member] | ||||||||||
States | Medium-term Notes [Member] | Medium-term Notes [Member] | ||||||||||||||||||||
Country | ||||||||||||||||||||||
Number Of Casinos Operated Or Managed | ' | 52 | ' | ' | ' | 39 | 13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Number of States in which Entity Operates | ' | 13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Number of Countries in which Entity Operates | ' | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Number of Reportable Segments | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Stock split ratio | 1.742 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Long-term Debt, Gross | ' | $23,589,300,000 | ' | ' | ' | ' | ' | $19,288,300,000 | ' | ' | ' | ' | $4,676,700,000 | ' | ' | $770,900,000 | ' | ' | ' | ' | ||
Debt Instrument, Face Amount | ' | ' | ' | ' | ' | ' | ' | 18,141,700,000 | [1] | ' | ' | ' | 4,412,600,000 | 4,676,700,000 | ' | 0 | 770,900,000 | 225,000,000 | ' | ' | ' | |
Contractual Obligation, Due in Next Twelve Months | ' | 2,383,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Total Caesars stockholders’ equity/(deficit) | ' | -3,122,000,000 | -411,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Cash and cash equivalents | ' | 2,771,200,000 | 1,757,500,000 | 891,200,000 | 971,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Net Cash Provided by (Used in) Operating Activities | ' | -109,400,000 | 30,200,000 | 63,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Line of Credit Facility, Maximum Borrowing Capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | 106,100,000 | 106,100,000 | 4,628,100,000 | [2] | ' | ' | ' | ' | 300,000,000 | 106,100,000 | ' | ' | |
Line of Credit Facility, Remaining Borrowing Capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 269,500,000 | ' | ' | ' | ' | ' | 9,600,000 | ' | ||
Sales Price Of Subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000,000 | ||
Leverage Ratio For Senior Secured Debt | ' | ' | ' | ' | ' | ' | ' | 4.52 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Leverage ratio for line of credit facility | ' | ' | ' | ' | ' | ' | ' | ' | 4.75 | ' | ' | ' | ' | 8 | ' | ' | ' | ' | ' | ' | ||
Amount Of Consolidated Debts Of Subsidiaries Excluded From Computation Of Leverage Ratio | ' | ' | ' | ' | ' | ' | ' | 350,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Current portion of long-term debt | ' | 197,100,000 | 879,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Long Term Debt Interest Repayments In Next Twelve Months | ' | 2,185,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Contractual Obligation, Due in Second Year | ' | 3,223,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
2015 | ' | 1,212,200,000 | ' | ' | ' | ' | ' | 1,108,500,000 | ' | ' | ' | ' | 33,900,000 | ' | ' | 497,100,000 | ' | ' | ' | ' | ||
Long Term Debt Interest Repayments In Year Two | ' | $2,011,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
[1] | of debt issued by CEOC is held by other consolidated entities, substantially all of which is held by CGP LLC. Accordingly, such debt is not considered outstanding in the above presentation. | |||||||||||||||||||||
[2] | Guaranteed by Caesars Entertainment. |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | |||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Aug. 31, 2012 | ||
Land improvements [Member] | Buildings [Member] | Buildings [Member] | Leasehold improvements [Member] | Leasehold improvements [Member] | Riverboats and barges [Member] | Furniture, fixtures, and equipment [Member] | Furniture, fixtures, and equipment [Member] | Secured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | |||||||
Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | |||||||||
2020 Note at 9% [Member] | 2020 Note at 9% [Member] | 2020 Note at 9% [Member] | |||||||||||||||
Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Cash and cash equivalents | $2,771.20 | $1,757.50 | $891.20 | $971.10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Restricted Cash and Cash Equivalents | 424.3 | 1,198.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Allowance for doubtful accounts | -162 | -201.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Casino Reinvestment Development Authority Investment Obligations [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Assessment of licenses | 1.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Investment alternative tax | 2.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Property and Equipment [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Interest Costs Capitalized | 37.8 | 38.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Useful life of asset | ' | ' | ' | ' | '12 years | '30 years | '40 years | '5 years | '15 years | '30 years | '2 years 6 months | '20 years | ' | ' | ' | ||
Marketing and Advertising Expense [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Advertising Expense | 207.9 | 194.2 | 190.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Current portion of long-term debt | $197.10 | $879.90 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $750 | [1] | ' | |
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.00% | [1] | 9.00% | [1] | 9.00% |
[1] | Guaranteed by Caesars Entertainment. |
Acquisitions_Investments_Dispo
Acquisitions, Investments, Dispositions and Divestitures - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | ||||||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Jun. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Aug. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Aug. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Sterling Suffolk Racecourse, LLC [Member] | Sterling Suffolk Racecourse, LLC [Member] | Sterling Suffolk Racecourse, LLC [Member] | Sterling Suffolk Racecourse, LLC [Member] | Atlantic City [Member] | Atlantic City [Member] | Atlantic City [Member] | Macau [Member] | Claridge Hotel Tower, Atlantic City [Member] | Alea Leeds [Member] | Alea Leeds [Member] | Enjoy S.A. [Member] | Rock Gaming, LLC [Member] | Rock Gaming, LLC [Member] | Rock Gaming, LLC [Member] | Thistledown Racetrack [Member] | Thistledown Racetrack [Member] | Baluma S.A. [Member] | Harrahs St. Louis [Member] | Baltimore, Maryland Joint Venture [Member] | Baltimore, Maryland Joint Venture [Member] | Buffalo Studios, LLC [Member] | Buffalo Studios, LLC [Member] | ||||
Convertible Preferred Stock [Member] | Common Stock [Member] | Land [Member] | Non-cancellable Contract Costs [Member] | Conrad Punta Del Este Resort and Casino [Member] | Enjoy S.A. [Member] | Caesars Interactive Entertainment [Member] | Caesars Interactive Entertainment [Member] | |||||||||||||||||||
Conrad Punta Del Este Resort and Casino [Member] | ||||||||||||||||||||||||||
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment or capital committment in joint venture | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $78 | ' | ' |
Purchase of additional interests in subsidiaries | 10 | 9.6 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 38 | 17.7 | ' | ' |
Total ownership interest property | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 46.61% | ' | ' | 52.00% | ' | ' | ' |
Business Combination, Consideration Transferred | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 45.2 |
Contingent earnout liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 58.5 | 5.6 |
Business Combination, Consideration Transferred | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 52.9 |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.7 |
Increase (Decrease) in Earnout Accrual | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 52.9 | ' |
Dispositions, Percentage of Voting Interests Sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 45.00% | ' | ' | ' | ' | ' |
Dispositions, Consideration for Sale Of Subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 139.5 | ' | ' | ' | ' | ' |
Proceeds from the sale of a subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.4 | ' | ' | ' | ' | ' |
Cash Divested from Deconsolidation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 29.7 | ' | ' | ' | ' | ' |
Dispositions, Deferred Cash Payment to be Received | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31.9 | ' | ' | ' | ' | ' |
Dispositions, Equity Received in Acquiring Company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impairment of intangible and tangible assets | 3,018.90 | 1,074.20 | 32.8 | ' | ' | ' | ' | ' | ' | ' | 5.8 | ' | 5.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Exit Costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15.8 | 15.1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Exit Costs Paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Expense Accreted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Exit Costs, Costs Accrued to Date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tangible Asset Impairment Charges | 13.9 | ' | ' | ' | ' | ' | ' | 2,356.80 | 450 | 21.7 | 101 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales Price Of Subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 438 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Divestiture of Businesses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 424.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investments | ' | ' | ' | ' | 101.9 | 41.9 | 60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income (Loss) from Equity Method Investments | -17.6 | -17.5 | -7.9 | 101.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Suffolk Downs equity investment write-off (Note 4) | 41.9 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill and Intangible Asset Impairment | 303.9 | 437.2 | 11 | 60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes, Loans and Financing Receivable, Gross, Current | ' | ' | ' | 28.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assets Held-for-sale, Other, Noncurrent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain on sale of discontinued operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.3 | ' | ' | ' | ' |
Cash received from sale of equity interest in associated companies | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 28.6 | ' | ' | ' | ' | ' | ' | ' |
Purchased equity interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of equity interest retain | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 80.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Gain on exchange for additional equity interest | 0 | 11 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CRDA tax rate | 1.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
CRDA tax payment | $7.30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisitions_Investments_Dispo1
Acquisitions, Investments, Dispositions and Divestitures - Components of Assets and Liabilities Held for Sale (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Assets | ' | ' |
Cash and cash equivalents | $0 | $4.70 |
Other current assets | 0 | 0.4 |
Assets held for sale, current | 0 | 5.1 |
Property and equipment, net | 11.9 | 471.2 |
Assets held for sale, non-current | 11.9 | 471.2 |
Liabilities | ' | ' |
Accounts payable and accrued expenses | 0 | 3.8 |
Liabilities held for sale, current | 0 | 3.8 |
Deferred credits and other | 0 | 0.2 |
Deferred income taxes | 0 | 51.9 |
Liabilities held for sale, non-current | $0 | $52.10 |
Acquisitions_Investments_Dispo2
Acquisitions, Investments, Dispositions and Divestitures - Income from Discontinued Operations (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' |
Net revenues | ($2) | $3.30 | $218.30 | $267.90 |
Pre-tax (loss)/income from operations | 0.7 | -29.8 | -64.5 | 55.1 |
(Loss)/income, net of income taxes | ' | -30 | -114.6 | 27.3 |
Harrahs St. Louis [Member] | ' | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' |
Net revenues | ' | 0 | 208.4 | 257.7 |
Pre-tax (loss)/income from operations | ' | -0.8 | 62.2 | 75.3 |
(Loss)/income, net of income taxes | ' | -0.6 | -1.7 | 45.8 |
Macau [Member] | ' | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' |
Net revenues | ' | 2.9 | 3.6 | 3.5 |
Pre-tax (loss)/income from operations | ' | -5.1 | -121.6 | -16.1 |
(Loss)/income, net of income taxes | ' | -5.5 | -107.8 | -14.4 |
Alea Leeds [Member] | ' | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' |
Net revenues | ' | 0.4 | 6.3 | 6.7 |
Pre-tax (loss)/income from operations | ' | -23.9 | -5.1 | -4.1 |
(Loss)/income, net of income taxes | ' | ($23.90) | ($5.10) | ($4.10) |
Caesars_Growth_Partners_LLC_Tr1
Caesars Growth Partners, LLC Transactions (Details) (USD $) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||
Feb. 29, 2012 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Initial public offering | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $17,200,000 | ' |
Long-term Debt | ' | 21,115,500,000 | ' | ' | ' | 21,412,100,000 | ' | ' | ' | 21,115,500,000 | 21,412,100,000 | ' |
Contributed Capital, Principal of Notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,100,000,000 | ' | ' |
Stock Issued During Period, Shares, New Issues | 1,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | ' | 2,078,400,000 | 2,180,000,000 | 2,158,200,000 | 2,143,200,000 | 2,014,900,000 | 2,195,800,000 | 2,163,700,000 | 2,206,100,000 | 8,559,700,000 | 8,580,400,000 | 8,566,600,000 |
Net (loss)/income attributable to Caesars | ' | -1,756,900,000 | -761,400,000 | -212,200,000 | -217,600,000 | -480,300,000 | -505,500,000 | -241,700,000 | -280,600,000 | -2,948,200,000 | -1,508,100,000 | -725,000,000 |
Caesars Acquisition Company [Member] | Common Class A [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Initial public offering | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,173,100,000 | ' | ' |
Stock Issued During Period, Shares, New Issues | ' | ' | ' | ' | ' | ' | ' | ' | ' | 135,771,882 | ' | ' |
Caesars Acquisition Company [Member] | Affiliates of Apollo Global Management, LLC and TPG Capital, LP [Member] | Common Class A [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Initial public offering | ' | ' | ' | ' | ' | ' | ' | ' | ' | 457,800,000 | ' | ' |
Shares Issued, Price Per Share | ' | $8.64 | ' | ' | ' | ' | ' | ' | ' | $8.64 | ' | ' |
Caesars Growth Partners, LLC [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restoration of Subscription Rights, Value | ' | 21,100,000 | ' | ' | ' | ' | ' | ' | ' | 21,100,000 | ' | ' |
Business Combination, Contingent Consideration, Asset | ' | 225,000,000 | ' | ' | ' | ' | ' | ' | ' | 225,000,000 | ' | ' |
Payments to Acquire Interest in Joint Venture | ' | ' | ' | ' | ' | ' | ' | ' | ' | 360,000,000 | ' | ' |
Percent of Management Fee to be Purchased | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' |
Caesars Growth Partners, LLC [Member] | Contingently Issuable Membership Units [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Contingent Consideration, Asset | ' | 167,800,000 | ' | ' | ' | ' | ' | ' | ' | 167,800,000 | ' | ' |
Contingent Consideration, Fair Value | ' | 306,500,000 | ' | ' | ' | ' | ' | ' | ' | 306,500,000 | ' | ' |
Variable Interest Entity, Primary Beneficiary [Member] | Caesars Growth Partners, LLC [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | 141,700,000 | ' | ' |
Net (loss)/income attributable to Caesars | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,900,000 | ' | ' |
Unsecured Debt [Member] | Caesars Interactive Entertainment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Debt | ' | $39,800,000 | ' | ' | ' | $42,000,000 | ' | ' | ' | $39,800,000 | $42,000,000 | $126,400,000 |
Property_and_Equipment_net_Det
Property and Equipment, net (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Property, Plant and Equipment [Abstract] | ' | ' |
Land and land improvements | $6,266.80 | $7,208.80 |
Buildings, riverboats, and improvements | 6,668.10 | 8,725.70 |
Furniture, fixtures, and equipment | 2,297.70 | 2,491 |
Construction in progress | 824.6 | 378.3 |
Total, Gross | 16,057.20 | 18,803.80 |
Less: accumulated depreciation | -2,819.30 | -3,102.10 |
Property and equipment, net | $13,237.90 | $15,701.70 |
Property_and_Equipment_net_Dep
Property and Equipment, net - Depreciation Expense (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Depreciation expense | $565.20 | $714.40 | $677 |
Property, Plant and Equipment [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Depreciation expense | $571.60 | $751.60 | $724.70 |
Property_and_Equipment_net_Add
Property and Equipment, net - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Recorded impairment of tangible assets | $13.90 | ' | ' |
Impairment of intangible and tangible assets | 3,018.90 | 1,074.20 | 32.8 |
Atlantic City [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Recorded impairment of tangible assets | 2,356.80 | 450 | ' |
MISSISSIPPI | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Recorded impairment of tangible assets | 79.3 | 180.5 | ' |
Impairment of intangible and tangible assets | $114.80 | ' | ' |
Goodwill_and_Other_Intangible_2
Goodwill and Other Intangible Assets - Changes in Carrying Value of Goodwill (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Goodwill [Roll Forward] | ' | ' | ' |
Beginning balance, Gross Goodwill | $9,433.70 | $9,438.60 | ' |
Beginning balance, Accumulated Impairment | -6,273.40 | -6,078.20 | ' |
Beginning balance, Net Carrying Value | 3,160.30 | 3,360.40 | ' |
Additions | 15.1 | 14.3 | ' |
Impairments | -104.3 | -195.2 | -3 |
Contribution of ThistleDown to ROC venture | 0 | -20.1 | ' |
Disposals | -14.9 | 0 | ' |
Other | 7.1 | 0.9 | ' |
Ending balance, Gross Goodwill | 9,441 | 9,433.70 | 9,438.60 |
Ending balance, Accumulated Impairment | -6,377.70 | -6,273.40 | -6,078.20 |
Ending balance, Net Carrying Value | $3,063.30 | $3,160.30 | $3,360.40 |
Goodwill_and_Other_Intangible_3
Goodwill and Other Intangible Assets - Changes in Intangible Assets Other Than Goodwill (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Goodwill and Other Intangible Assets [Roll Forward] | ' | ' | ' |
Amortizing Intangible Assets, Beginning Balance | $1,027.60 | $1,163.70 | ' |
Amortizing Intangible Assets, Additions | 19.1 | 37.8 | ' |
Impairment of Intangible Assets, Finite-lived | -150.3 | 0 | ' |
Amortization of Intangible Assets | -164.5 | -174.6 | -156.7 |
Disposal of Intangible Asset | 0 | 0 | ' |
Finite-Lived Intangible Assets, Other Charges | -1.9 | 0.7 | ' |
Amortizing Intangible Assets, Ending Balance | 730 | 1,027.60 | 1,163.70 |
Other Non-Amortizing Intangible Assets, Beginning Balance | 2,958.10 | 3,199.50 | ' |
Other Non-Amortizing Intangible Assets, Impairment | -199.6 | -242 | ' |
Indefinite-lived Intangible Assets, Other Charges | -0.8 | 0.6 | ' |
Other Non-Amortizing Intangible Assets, Ending Balance | 2,757.70 | 2,958.10 | 3,199.50 |
Intangible assets other than goodwill, Beginning Balance | 3,985.70 | 4,363.20 | ' |
Increase (Decrease) in Intangible Assets, Current | 19.1 | 37.8 | ' |
Impairment of Intangible Assets (Excluding Goodwill) | 349.9 | 242 | ' |
Intangible Assets, Other Charges | -2.7 | 1.3 | ' |
Intangible assets other than goodwill, Ending Balance | $3,487.70 | $3,985.70 | $4,363.20 |
Goodwill_and_Other_Intangible_4
Goodwill and Other Intangible Assets - Impairment Charges for Goodwill and Other Non-Amortizing Intangible Assets (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Schedule of Impairment Charges for Goodwill and Other Non-Amortizing Intangible Assets [Line Items] | ' | ' | ' |
Goodwill | $104.30 | $195.20 | $3 |
Impairment of intangible assets other than goodwill | 199.6 | 242 | ' |
Total impairment charges | 303.9 | 437.2 | 11 |
Trademarks [Member] | ' | ' | ' |
Schedule of Impairment Charges for Goodwill and Other Non-Amortizing Intangible Assets [Line Items] | ' | ' | ' |
Impairment of intangible assets other than goodwill | 101.4 | 209 | 8 |
Gaming Rights and other [Member] | ' | ' | ' |
Schedule of Impairment Charges for Goodwill and Other Non-Amortizing Intangible Assets [Line Items] | ' | ' | ' |
Impairment of intangible assets other than goodwill | $98.20 | $33 | $0 |
Goodwill_and_Other_Intangible_5
Goodwill and Other Intangible Assets - Carrying Value and Accumulated Amortization for Each Major Class of Intangible Assets Other Than Goodwill (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | Trademarks [Member] | Trademarks [Member] | Gaming Rights [Member] | Gaming Rights [Member] | Customer relationships [Member] | Customer relationships [Member] | Contract rights [Member] | Contract rights [Member] | Patented technology [Member] | Patented technology [Member] | Gaming Rights [Member] | Gaming Rights [Member] | |||
Intangible Assets Excluding Goodwill [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted Average Remaining Useful Life (in years) | ' | ' | ' | ' | ' | ' | ' | '6 years | ' | '14 years 6 months | ' | '2 years 9 months | ' | '10 years 6 months | ' |
Gross Carrying Amount | $1,546.80 | $1,803 | ' | ' | ' | ' | ' | $1,268.10 | $1,456.70 | $97.60 | $145.10 | $138.30 | $158.40 | $42.80 | $42.80 |
Accumulated Amortization | -816.8 | -775.4 | ' | ' | ' | ' | ' | -645.5 | -618 | -79.4 | -66.3 | -76.5 | -78.3 | -15.4 | -12.8 |
Net Carrying Amount | 730 | 1,027.60 | 1,163.70 | ' | ' | ' | ' | 622.6 | 838.7 | 18.2 | 78.8 | 61.8 | 80.1 | 27.4 | 30 |
Carrying value and accumulated amortization for each major class of intangible assets other than goodwill | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non amortizing intangible assets | 2,757.70 | 2,958.10 | 3,199.50 | 1,598.20 | 1,699.70 | 1,159.50 | 1,258.40 | ' | ' | ' | ' | ' | ' | ' | ' |
Total intangible assets other than goodwill | $3,487.70 | $3,985.70 | $4,363.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill_and_Other_Intangible_6
Goodwill and Other Intangible Assets - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Schedule of Goodwill and Other Intangible Assets [Line Items] | ' | ' | ' |
Goodwill impairment loss | $104.30 | $195.20 | $3 |
Contribution of Thistledown to joint venture, Goodwill transfers | 0 | -20.1 | ' |
Amortizing Intangible Assets, Additions or adjustments | 19.1 | 37.8 | ' |
Impairment of non-amortizing intangible assets other than goodwill | 199.6 | 242 | ' |
Amortization of intangible assets | 164.5 | 174.6 | 156.7 |
Finite-Lived Intangible Assets, Amortization Expense, 2014 | 136.4 | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, 2015 | 134.9 | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, 2016 | 121.4 | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, 2017 | 110.9 | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, 2018 | 90.4 | ' | ' |
Goodwill and Intangible Asset Impairment | 303.9 | 437.2 | 11 |
Other Intangible Assets [Member] | ' | ' | ' |
Schedule of Goodwill and Other Intangible Assets [Line Items] | ' | ' | ' |
Goodwill and Intangible Asset Impairment | 150.3 | ' | ' |
Sterling Suffolk Racecourse, LLC [Member] | ' | ' | ' |
Schedule of Goodwill and Other Intangible Assets [Line Items] | ' | ' | ' |
Goodwill and Intangible Asset Impairment | $60 | ' | ' |
Detail_of_Accrued_Expenses_and2
Detail of Accrued Expenses and Other Current Liabilities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Detail of Accrued Expenses [Abstract] | ' | ' |
Payroll and other compensation | $233.40 | $206.70 |
Self-insurance claims and reserves | 208.2 | 202 |
Advance deposits | 203.5 | 138.6 |
Accrued taxes | 130 | 147 |
Total Rewards liability | 50.1 | 52 |
Other accruals | 387.1 | 348.4 |
Total accrued expenses | 1,212.30 | 1,094.70 |
Liabilities held for sale | 0 | 3.8 |
Total | $1,212.30 | $1,098.50 |
Debt_Outstanding_Debt_Details
Debt - Outstanding Debt (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Aug. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
In Millions, unless otherwise specified | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Interactive Entertainment [Member] | Caesars Interactive Entertainment [Member] | Caesars Interactive Entertainment [Member] | Caesars Entertainment Resort Properties [Member] | Caesars Entertainment Resort Properties [Member] | Caesars Entertainment Resort Properties [Member] | Caesars Entertainment Resort Properties [Member] | Caesars Entertainment Resort Properties [Member] | Caesars Entertainment Resort Properties [Member] | Caesars Entertainment Resort Properties [Member] | Caesars Entertainment Resort Properties [Member] | Caesars Entertainment Resort Properties [Member] | Caesars Entertainment Resort Properties [Member] | Caesars Entertainment Resort Properties [Member] | Caesars Entertainment Resort Properties [Member] | Caesars Entertainment Resort Properties [Member] | Caesars Entertainment Resort Properties [Member] | Caesars Entertainment Resort Properties [Member] | Caesars Entertainment Resort Properties [Member] | Caesars Entertainment Resort Properties [Member] | Caesars Entertainment Resort Properties [Member] | Caesars Growth Partners, LLC [Member] | Caesars Growth Partners, LLC [Member] | Caesars Growth Partners, LLC [Member] | Caesars Growth Partners, LLC [Member] | Caesars Growth Partners, LLC [Member] | Caesars Growth Partners, LLC [Member] | Caesars Growth Partners, LLC [Member] | Caesars Growth Partners, LLC [Member] | Caesars Growth Partners, LLC [Member] | Caesars Growth Partners, LLC [Member] | Caesars Growth Partners, LLC [Member] | Caesars Growth Partners, LLC [Member] | Subsidiary Issuer [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Medium-term Notes [Member] | Medium-term Notes [Member] | Medium-term Notes [Member] | Medium-term Notes [Member] | Medium-term Notes [Member] | Medium-term Notes [Member] | Medium-term Notes [Member] | Medium-term Notes [Member] | Medium-term Notes [Member] | Secured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | Subordinated Debt [Member] | Subordinated Debt [Member] | Subordinated Debt [Member] | Subordinated Debt [Member] | Subordinated Debt [Member] | Subordinated Debt [Member] | Capital Lease Obligations [Member] | Capital Lease Obligations [Member] | Subsidiary Guaranteed Senior Notes [Member] | Subsidiary Guaranteed Senior Notes [Member] | Subsidiary Guaranteed Senior Notes [Member] | Subsidiary Guaranteed Senior Notes [Member] | Subsidiary Guaranteed Senior Notes [Member] | Subsidiary Guaranteed Senior Notes [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Convertible Debt [Member] | Convertible Debt [Member] | Other Debt Obligations [Member] | Other Debt Obligations [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | Capital Lease Obligations [Member] | Capital Lease Obligations [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | First Lien Notes [Member] | First Lien Notes [Member] | Second Lien Notes [Member] | Second Lien Notes [Member] | CMBS Loan [Member] | CMBS Loan [Member] | Linq Octavius Senior Secured Loan [Member] | Linq Octavius Senior Secured Loan [Member] | Medium-term Notes [Member] | Medium-term Notes [Member] | Secured Debt [Member] | Secured Debt [Member] | Capital Lease Obligations [Member] | Capital Lease Obligations [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Term Loan B1 - B3 Three [Member] | Term Loan B1 - B3 Three [Member] | Term Loan B4 [Member] | Term Loan B4 [Member] | Term Loans B5 [Member] | Term Loans B5 [Member] | Term Loan B6 [Member] | Term Loan B6 [Member] | 2017 Note at 11.25% [Member] | 2017 Note at 11.25% [Member] | 2020 Note at 8.5% [Member] | 2020 Note at 8.5% [Member] | 2020 Note at 9% [Member] | 2020 Note at 9% [Member] | 2020 Note at 9% [Member] | Chester Downs Senior Secured Notes [Member] | Chester Downs Senior Secured Notes [Member] | Bill's Gamblin' Hall & Saloon Senior Secured Revolving Credit Facility [Member] | Bill's Gamblin' Hall & Saloon Senior Secured Revolving Credit Facility [Member] | 2018 Note at 12.75% [Member] | 2018 Note at 12.75% [Member] | 2018 Note at 10% [Member] | 2018 Note at 10% [Member] | 2015 Note at 10% [Member] | 2015 Note at 10% [Member] | Senior Notes [Member] | Senior Notes [Member] | Payment in Kind (PIK) Note [Member] | Payment in Kind (PIK) Note [Member] | Payment in Kind (PIK) Note [Member] | Payment in Kind (PIK) Note [Member] | Minimum [Member] | Maximum [Member] | Unsecured Senior Debt 5.375% [Member] | Unsecured Senior Debt 5.375% [Member] | Unsecured Senior Debt 7.0% [Member] | Unsecured Senior Debt 7.0% [Member] | Unsecured Senior Debt 5.625% [Member] | Unsecured Senior Debt 5.625% [Member] | Unsecured Senior Debt 6.5% [Member] | Unsecured Senior Debt 6.5% [Member] | Unsecured Senior Debt 5.75% [Member] | Unsecured Senior Debt 5.75% [Member] | Unsecured Senior Debt 5.75% [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Minimum [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-Term Debt Effecting Maturities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $250 | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | 3.24% | [1] | ' | 9.50% | [1] | ' | 4.49% | [1] | ' | 5.49% | [1],[2] | ' | 11.25% | [1] | ' | 8.50% | [1] | ' | 9.00% | [1] | 9.00% | [1] | 9.00% | 9.25% | ' | 11.00% | [3] | ' | 12.75% | [1] | ' | 10.00% | [1] | ' | 10.00% | [1] | ' | ' | ' | 10.75% | [4] | ' | ' | ' | 10.75% | [4] | 11.50% | [4] | ' | ' | 0.00% | [4] | 6.00% | [4] | 0.00% | [1] | ' | 0.00% | [1] | ' | 5.63% | [1] | ' | 6.50% | [1] | ' | 5.75% | [1] | ' | ' | 0.25% | [1] | ' | 5.30% | ' | ' | ' | ' | ' | ' | 7.00% | [5] | ' | ' | ' | ' | ' | 0.00% | [4] | 6.00% | [4] | 8.00% | [5] | ' | 11.00% | [5] | ' | 0.00% | ' | 0.00% | ' | ' | ' | 8.25% | ' | 3.03% | ' | ' | ' | ' | ' | 0.00% | [4] | 6.00% | [4] | ' | ||||||||||||||||||||||||
Debt Instrument, Face Amount | ' | ' | 18,141.70 | [6] | ' | 4,412.60 | 29 | [1] | ' | 959.8 | [1] | ' | 991.9 | [1] | ' | 2,431.90 | [1],[2] | ' | 2,095 | [1] | ' | 1,250 | [1] | ' | 3,000 | [1] | 750 | 750 | 330 | ' | 185 | [3] | ' | 750 | [1] | ' | 4,528.10 | [1] | ' | 214.8 | [1] | ' | 16.7 | ' | 478.6 | [4] | ' | 10.9 | [4] | ' | ' | ' | 45.9 | ' | ' | ' | 0 | [1] | ' | 0 | [1] | ' | 364.4 | [1] | ' | 248.7 | [1] | ' | 147.9 | [1] | ' | 5.9 | 0.2 | [1] | ' | 62.9 | ' | ' | ' | ' | 4,676.70 | ' | 2,500 | [5] | ' | 5.4 | ' | 21.3 | ' | ' | ' | 1,000 | [5] | ' | 1,150 | [5] | ' | 0 | ' | 0 | 450 | 770.9 | ' | 225 | ' | 494.8 | ' | 0.1 | ' | 51 | ' | ' | ' | 1,146.60 | |||||||||||||||||||||||||||||||
Debt, Book Value | 21,115.50 | 21,412.10 | 15,782.90 | [6] | 15,810.50 | [6] | ' | 29 | [1] | 1,025.80 | [1] | 948.1 | [1] | 954.5 | [1] | 989.3 | [1] | 1,218.80 | [1] | 2,399.90 | [1],[2] | 2,812.60 | [1],[2] | 2,066.40 | [1] | 2,060.20 | [1] | 1,250 | [1] | 1,250 | [1] | 2,954.50 | [1] | 1,486.90 | [1] | ' | 330 | 330 | 179.8 | [3] | 181.4 | [3] | 743.9 | [1] | 742.9 | [1] | 2,433.20 | [1] | 2,260.20 | [1] | 187.7 | [1] | 173.7 | [1] | 16.7 | 27.2 | 478.6 | [4] | 478.6 | [4] | 10.9 | [4] | 9.7 | [4] | ' | ' | 45.9 | 0 | ' | ' | 0 | [1] | 116.6 | [1] | 0 | [1] | 0.6 | [1] | 328.3 | [1] | 306.7 | [1] | 212.6 | [1] | 200.9 | [1] | 115 | [1] | 108.7 | [1] | ' | 0.2 | [1] | 0.2 | [1] | 62.9 | 64.3 | 39.8 | 42 | 126.4 | 4,610.90 | 5,115.60 | 2,449.70 | [5] | 0 | [5] | 5.4 | 8.6 | 21.3 | 0 | ' | ' | 993.7 | [5] | 0 | [5] | 1,140.80 | [5] | 0 | [5] | 0 | 4,660.50 | 0 | 446.5 | 721.7 | 486 | 214.5 | 0 | 456.1 | 438.2 | 0.1 | 0.1 | 51 | 47.7 | ' | ' | ' | ||||||||
Long-term Debt, Gross | 23,589.30 | ' | 19,288.30 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,676.70 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 770.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Current portion of long-term debt | -197.1 | -879.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -750 | [1] | ' | ' | ' | ' | ' | ' | ' | -43.5 | ' | -31.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -47.7 | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term debt, face value | 23,392.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-term debt | $20,918.40 | $20,532.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
[1] | Guaranteed by Caesars Entertainment. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | The Term B-6 Loans have a springing maturity to April 14, 2017 if more than $250.0 million of CEOC's 11.25% senior secured notes due 2017 remain outstanding on April 14, 2017. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | Subsequent to year end, the Company announced the agreement to sell the property to CGP LLC, as part of this transaction, CGP LLC will assume this debt. See Note 24. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[4] | Guaranteed by Caesars Entertainment and certain wholly owned subsidiaries of CEOC. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[5] | Guaranteed by Caesars Entertainment Resort Properties and its subsidiaries. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[6] | of debt issued by CEOC is held by other consolidated entities, substantially all of which is held by CGP LLC. Accordingly, such debt is not considered outstanding in the above presentation. |
Debt_Annual_Maturities_of_Long
Debt - Annual Maturities of Long-Term Debt (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
2014 | ($197.10) |
2015 | -1,212.20 |
2016 | -1,793.50 |
2017 | -2,351.80 |
2018 | -8,473.70 |
Thereafter | -9,561 |
Long-term Debt, Gross | -23,589.30 |
Caesars Entertainment Operating Company [Member] | ' |
2014 | -113.4 |
2015 | -1,108.50 |
2016 | -2,084 |
2017 | -2,715.50 |
2018 | -8,447.10 |
Thereafter | -4,819.80 |
Long-term Debt, Gross | -19,288.30 |
CEOC to Affiliate [Member] | ' |
2014 | 0 |
2015 | -427.3 |
2016 | -324.5 |
2017 | -390.9 |
2018 | -3.9 |
Thereafter | 0 |
Long-term Debt, Gross | -1,146.60 |
Caesars Entertainment Resort Properties [Member] | ' |
2014 | -35.9 |
2015 | -33.9 |
2016 | -31.8 |
2017 | -25 |
2018 | -25.1 |
Thereafter | -4,525 |
Long-term Debt, Gross | -4,676.70 |
Caesars Growth Partners, LLC [Member] | ' |
2014 | -47.8 |
2015 | -497.1 |
2016 | -2.2 |
2017 | -2.2 |
2018 | -5.4 |
Thereafter | -216.2 |
Long-term Debt, Gross | ($770.90) |
Debt_Additional_Information_De
Debt - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | 3 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Mar. 01, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Feb. 20, 2013 | Aug. 31, 2012 | Feb. 29, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Mar. 01, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Aug. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2012 | Dec. 31, 2013 | |||||||||||||||||||||||||
sqft | PHW Las Vegas , LLC [Member] | PHW Las Vegas , LLC [Member] | PHW Las Vegas Senior Secured Loan, Interest Only Participations [Member] | PHW Las Vegas Senior Secured Loan [Member] | Original Revolver Commitments [Member] | Unsecured Senior Debt 5.375% [Member] | Unsecured Senior Debt 5.375% [Member] | Revolving Credit Facility [Member] | Revised Revolver Commitments [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company Inc [Member] | Caesars Entertainment Operating Company Inc [Member] | Caesars Entertainment Resort Properties [Member] | Caesars Entertainment Resort Properties [Member] | Caesars Entertainment Resort Properties [Member] | Caesars Entertainment Resort Properties [Member] | Caesars Entertainment Resort Properties [Member] | Caesars Entertainment Resort Properties [Member] | Caesars Entertainment Resort Properties [Member] | Caesars Entertainment Resort Properties [Member] | Caesars Entertainment Resort Properties [Member] | Caesars Entertainment Resort Properties [Member] | Caesars Entertainment Resort Properties [Member] | Caesars Entertainment Resort Properties [Member] | Caesars Entertainment Resort Properties [Member] | Caesars Entertainment Resort Properties [Member] | Caesars Entertainment Resort Properties [Member] | Caesars Growth Partners, LLC [Member] | Caesars Growth Partners, LLC [Member] | Caesars Growth Partners, LLC [Member] | Caesars Growth Partners, LLC [Member] | Caesars Growth Partners, LLC [Member] | Caesars Growth Partners, LLC [Member] | Caesars Growth Partners, LLC [Member] | Caesars Growth Partners, LLC [Member] | 2018 Note at 10% [Member] | 2015 Note at 10% [Member] | 2020 Note at 9% [Member] | 2020 Note at 9% [Member] | 2020 Note at 9% [Member] | 2020 Note at 9% [Member] | 2020 Note at 8.5% [Member] | Chester Downs Senior Secured Notes [Member] | Chester Downs Senior Secured Notes [Member] | Bill's Gamblin' Hall & Saloon Senior Secured Revolving Credit Facility [Member] | Bill's Gamblin' Hall & Saloon Senior Secured Revolving Credit Facility [Member] | Bill's Gamblin' Hall & Saloon Senior Secured Revolving Credit Facility [Member] | Unsecured Senior Debt 5.75% [Member] | Unsecured Senior Debt 5.75% [Member] | |||||||||||||||||||||||||||
Caesars Entertainment Operating Company Inc [Member] | Maximum [Member] | Revolving Credit Facility maturing Jan 28 2017 [Member] | Revolving Credit Facility maturing Jan 28 2017 [Member] | Revolving Credit Facility [Member] | Medium-term Notes [Member] | Medium-term Notes [Member] | Medium-term Notes [Member] | Medium-term Notes [Member] | Medium-term Notes [Member] | Medium-term Notes [Member] | Medium-term Notes [Member] | Medium-term Notes [Member] | Medium-term Notes [Member] | Medium-term Notes [Member] | Medium-term Notes [Member] | Medium-term Notes [Member] | Medium-term Notes [Member] | Medium-term Notes [Member] | Revolving Credit Facility maturing Jan 28 2014 [Member] | Secured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | London Interbank Offered Rate (LIBOR) [Member] | London Interbank Offered Rate (LIBOR) [Member] | London Interbank Offered Rate (LIBOR) [Member] | London Interbank Offered Rate (LIBOR) [Member] | London Interbank Offered Rate (LIBOR) [Member] | London Interbank Offered Rate (LIBOR) [Member] | Alternate Rate [Member] | Alternate Rate [Member] | Alternate Rate [Member] | Revolving Credit Facility maturing Jan 28 2017 [Member] | Revolving Credit Facility maturing Jan 28 2014 [Member] | Maximum [Member] | Revolving Credit Facility [Member] | Linq Octavius Senior Secured Loan [Member] | Linq Octavius Senior Secured Loan [Member] | CMBS Financing [Member] | CMBS Financing [Member] | Secured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | First Lien Notes [Member] | Second Lien Notes [Member] | London Interbank Offered Rate (LIBOR) [Member] | London Interbank Offered Rate (LIBOR) [Member] | Medium-term Notes [Member] | Secured Debt [Member] | Secured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | Caesars Entertainment Operating Company [Member] | |||||||||||||||||||||||||||||||||||||||
Term Loan B4 [Member] | Revolving Credit Facility maturing Jan 28 2017 [Member] | Revolving Credit Facility maturing Jan 28 2017 [Member] | Term Loans B5 [Member] | Credit Facilities Term Loans B5-B6 [Member] | Term Loan B6 [Member] | Term Loan B6 [Member] | Term Loan B1 - B3 Three [Member] | Term Loan B1 - B3 Three [Member] | Maximum [Member] | Minimum [Member] | Medium-term Notes [Member] | Medium-term Notes [Member] | Medium-term Notes [Member] | Medium-term Notes [Member] | Medium-term Notes [Member] | Medium-term Notes [Member] | Medium-term Notes [Member] | Medium-term Notes [Member] | Medium-term Notes [Member] | Maximum [Member] | Minimum [Member] | Revolving Credit Facility [Member] | Secured Debt [Member] | Maximum [Member] | Minimum [Member] | Subordinated Debt [Member] | Subordinated Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Term Loan B4 [Member] | Revolving Credit Facility maturing Jan 28 2017 [Member] | Revolving Credit Facility maturing Jan 28 2014 [Member] | Term Loans B5 [Member] | Term Loan B6 [Member] | Term Loan B1 - B3 Three [Member] | Revolving Credit Facility maturing Jan 28 2017 [Member] | Swingline Loan Portion of Revolving Credit Facility maturing Jan 28 2014 [Member] | Revolving Credit Facility maturing Jan 28 2014 [Member] | Long-term Debt [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
CRDA tax payment | $7,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Unamortized discounts | 2,473,800,000 | 2,691,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Long-term Debt, Fair Value | 20,544,100,000 | 20,652,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Amount of Restricted Net Assets for Consolidated and Unconsolidated Subsidiaries | 3,000,000,000 | 1,200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Current portion of long-term debt | 197,100,000 | 879,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 47,700,000 | ' | ' | 43,500,000 | 31,600,000 | ' | 750,000,000 | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | ' | ' | ' | ' | ' | 1.59% | ' | ' | ' | 5.38% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.50% | [1] | ' | ' | 4.49% | [1] | ' | 5.49% | [1],[2] | ' | ' | 3.24% | [1] | ' | ' | ' | 6.00% | [3] | 0.00% | [3] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | ' | 0.00% | ' | 7.00% | [4] | ' | 6.00% | [3] | 0.00% | [3] | 8.00% | [4] | 11.00% | [4] | ' | ' | ' | 8.25% | 3.03% | ' | ' | ' | 6.00% | [3] | 0.00% | [3] | 10.00% | [1] | 10.00% | [1] | 9.00% | [1] | 9.00% | [1] | 9.00% | ' | 8.50% | [1] | ' | 9.25% | ' | 11.00% | [5] | ' | ' | 5.75% | [1] | ||||
Credit Agreement [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Conversion of revolver commitments into Extended Term Loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 457,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Conversion of B-1, B-2 and B-3 term loans to other term loans | ' | ' | ' | ' | ' | ' | ' | 37,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,812,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Repayments of lines of credit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 478,800,000 | 1,095,600,000 | ' | 1,574,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Termination of original maturity revolver commitments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 798,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Line of Credit Facility, Amount Outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,853,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Debt Conversion, Converted Instrument, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 133,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Line of Credit Facility, Increase (Decrease), Net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75,000,000 | ' | ' | ' | ' | ' | 133,900,000 | ' | ' | ' | 650,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Senior secured revolving credit facility maturing on January 28, 2017 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 106,100,000 | 106,100,000 | 215,500,000 | ' | ' | ' | 4,628,100,000 | [1] | ' | ' | 106,100,000 | ' | ' | ' | ' | ' | ' | ' | 109,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,769.50 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Debt Instrument, Face Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,141,700,000 | [6] | ' | ' | ' | ' | ' | ' | ' | 4,412,600,000 | ' | 959,800,000 | [1] | ' | ' | 991,900,000 | [1] | 3,423,800,000 | 2,431,900,000 | [1],[2] | ' | ' | 29,000,000 | [1] | ' | ' | 45,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,676,700,000 | ' | ' | 0 | 450,000,000 | 0 | ' | 2,500,000,000 | [4] | 21,300,000 | ' | ' | 1,000,000,000 | [4] | 1,150,000,000 | [4] | ' | ' | 770,900,000 | 225,000,000 | 494,800,000 | ' | 51,000,000 | ' | ' | ' | 4,528,100,000 | [1] | 214,800,000 | [1] | 3,000,000,000 | [1] | 750,000,000 | 750,000,000 | 1,500,000,000 | [1] | 1,250,000,000 | [1] | ' | 330,000,000 | ' | 185,000,000 | [5] | ' | 5,900,000 | 147,900,000 | [1] | |||||||||
Required scheduled by Credit Facilities for quarterly payments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Line Of Credit Outstanding Amount Committed To Letters Of Credit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Line of Credit Facility, Remaining Borrowing Capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 115,000,000 | ' | ' | ' | ' | ' | ' | ' | 9,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 269,500,000 | ' | 269,500,000 | [4] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 600.00% | ' | ' | ' | 750.00% | 525.00% | 300.00% | 425.00% | 525.00% | 300.00% | 425.00% | 150.00% | 200.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Term Loans Periodic Payments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Extinguishment of Debt, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 37,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Line of Credit Facility, Borrowing Capacity at Twelve Months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 37,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Line of Credit Facility Borrowing Capacity at Eighteen Months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 37,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Line of Credit Facility, Current Borrowing Capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Line of Credit Facility, Capacity Available for Specific Purpose Other than for Trade Purchases | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Line of Credit Facility, Commitment Fee Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
CMBS Financing [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Purchase of CMBS Loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 274,800,000 | 367,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Gain on loan repurchase, net of deferred finance charges | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ||||||||||||||||||||||||
Debt Instrument, Cash Paid for Repurchase | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,200,000 | ' | ||||||||||||||||||||||||
PHW Las Vegas senior secured loan [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Debt Instrument, Original Face Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 554,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Dispositions, Percentage of Voting Interests Sold | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Octavius and Linq Projects [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Operating Leases, Future Minimum Payments Due | 1,341,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Bill's Credit Facility [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | ' | ' | ' | ' | ' | ' | 2.86% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.75% | ' | 1.25% | ' | ' | ||||||||||||||||||||||||
Area of Real Estate Property | ' | 65,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Guarantor Obligations, Maximum Exposure, Undiscounted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,000,000 | [5] | ' | ' | ' | |||||||||||||||||||||||
Other Financing Transactions [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Repayment of existing term loan plus accrued interest and prepayment penalty | 6,512,100,000 | 2,036,600,000 | 128,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 350,000,000 | ' | ' | 1,433,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 232,400,000 | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Interest and Fees [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Collateral and Guarantors [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Minimum aggregate recourse liabilities | ' | ' | ' | ' | ' | ' | 30,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Minimum Net Worth Required for Compliance | ' | ' | ' | ' | ' | ' | 100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Restrictive Covenants and Other Matters [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Leverage ratio for line of credit facility | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.75 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Ratio excludes first priority senior secured notes | 3,700,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Ratio excludes aggregate principal amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 350,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Leverage Ratio For Senior Secured Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.52 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Additional Amosrtization Amount of Loan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,450,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Percent guarantee of the capital stock of the first-tier foreign subsidiaries | 65.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Debt Instrument, Repurchase Amount | ' | ' | ' | ' | ' | ' | ' | ' | 18,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 219,700,000 | 229,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Gains/(losses) on Extinguishment of Debt | ($29,800,000) | $136,000,000 | $47,900,000 | ' | ' | ' | ' | ' | ' | ($200,000) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $52,400,000 | $135,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $29,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
Debt Instrument, Convertible, Carrying Amount of Equity Component | ' | 8,913 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||
[1] | Guaranteed by Caesars Entertainment. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | The Term B-6 Loans have a springing maturity to April 14, 2017 if more than $250.0 million of CEOC's 11.25% senior secured notes due 2017 remain outstanding on April 14, 2017. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | Guaranteed by Caesars Entertainment and certain wholly owned subsidiaries of CEOC. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[4] | Guaranteed by Caesars Entertainment Resort Properties and its subsidiaries. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[5] | Subsequent to year end, the Company announced the agreement to sell the property to CGP LLC, as part of this transaction, CGP LLC will assume this debt. See Note 24. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[6] | of debt issued by CEOC is held by other consolidated entities, substantially all of which is held by CGP LLC. Accordingly, such debt is not considered outstanding in the above presentation. |
Derivative_Instruments_Additio
Derivative Instruments - Additional Information (Detail) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | interest_rate_swap_agreements |
Interest Rate Swap [Member] | ' |
Derivative [Line Items] | ' |
Number of interest rate swap agreements | 8 |
Notional amount of derivative | $5,750 |
Interest Rate Cap [Member] | ' |
Derivative [Line Items] | ' |
Notional amount of derivative | 4,664.10 |
LIBOR cap rate | 4.50% |
Interest Rate Cap [Member] | Designated as Hedging Instrument [Member] | ' |
Derivative [Line Items] | ' |
Notional amount of derivative | $501.40 |
LIBOR cap rate | 7.00% |
Derivative_Instruments_Fair_Va
Derivative Instruments - Fair Values of Derivative Instruments (Detail) (Derivatives not designated as hedging instruments [Member], USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Millions, unless otherwise specified | ||||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value | $0 | $0 | ||
Derivative Liability, Fair Value | -165.9 | -306.4 | ||
Interest Rate Swap [Member] | Deferred Credits and Other [Member] | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ||
Derivative Asset, Fair Value | 0 | 0 | ||
Derivative Liability, Fair Value | -165.9 | -306.4 | ||
Interest Rate Cap [Member] | Deferred Credits and Other [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) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Loss recognized in AOCL (effective portion) | $0 | $0 | $64.30 |
Loss reclassified from AOCL into net loss (effective portion) | 4 | 28.4 | 265.7 |
Other Comprehensive Income (Loss) [Member] | Designated as Hedging Instrument [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Loss recognized in AOCL (effective portion) | 0 | 0 | 64.3 |
Interest Expense [Member] | Designated as Hedging Instrument [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Loss reclassified from AOCL into net loss (effective portion) | 4 | 28.4 | 265.7 |
Gain recognized in net loss (ineffective portion) | $0 | $0 | ($53.40) |
Derivative_Instruments_Derivat
Derivative Instruments Derivative Instruments Not Designated as Hedging Instruments (Details) (Interest Rate Swap [Member], Interest Expense [Member], Derivatives not designated as hedging instruments [Member], USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Interest Rate Swap [Member] | Interest Expense [Member] | Derivatives not designated as hedging instruments [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Net periodic cash settlements and accrued interest | $172 | $169.60 | $201.10 |
Total expense for derivatives | $34.40 | $140 | $184.20 |
Stockholders_Equity_and_Loss_P2
Stockholders' Equity and Loss Per Share - Reconciliation of Loss from Continuing Operations to Basic and Diluted Loss Per Share (Detail) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Anti-dilutive securities | 6.2 | 6.5 | 6 |
Stock Options [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Anti-dilutive securities | 4.3 | 6.1 | 5.9 |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Anti-dilutive securities | 1.6 | 0 | 0 |
Warrants [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Anti-dilutive securities | 0.3 | 0.4 | 0.1 |
Stockholders_Equity_and_Loss_P3
Stockholders' Equity and Loss Per Share - Additional Information (Detail) (USD $) | 0 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | ||||||||||
Feb. 13, 2012 | Aug. 31, 2012 | Apr. 30, 2012 | Mar. 31, 2012 | Feb. 29, 2012 | Jan. 31, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Oct. 02, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
2012 Stock Offering [Member] | 2012 Stock Offering [Member] | 2013 Stock Offering [Member] | 2013 Stock Offering [Member] | Horseshoe Casino Baltimore [Member] | Common Class A [Member] | |||||||||||
Caesars Acquisition Company [Member] | ||||||||||||||||
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares released under contractual transfer restrictions | ' | ' | ' | ' | ' | 24,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Treasury Stock, Shares, Acquired | ' | ' | ' | ' | ' | 1,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, New Issues | ' | ' | ' | ' | 1,800,000 | ' | ' | ' | ' | ' | 1,055,493 | 15,000 | ' | ' | ' | 135,771,882 |
Stock Issued During Period, Shares, Issued for Services | ' | ' | ' | ' | 271,697 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issue price of underwriters allotment in public offering | ' | ' | ' | ' | $9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock, net of fees | $15,200,000 | ' | ' | ' | ' | ' | ' | $217,200,000 | $17,400,000 | $0 | ' | ' | $200,600,000 | ' | ' | ' |
Common stock, stock split | ' | ' | ' | ' | ' | ' | 1.742 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Registered Shares became eligible for resale under the Shelf Registration | ' | 50.00% | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum Aggregate Common Stock Offering Price | ' | ' | ' | 500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issue and sale of shares under equity distribution agreement | ' | ' | 10,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000,000 | ' | ' |
Number of shares sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,070,493 | ' | ' | ' | ' | ' |
Common Stock, Value, Outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,600,000 | ' | ' | ' | ' | ' |
Aggregate offering price | ' | ' | ' | ' | ' | ' | ' | 1,400,000 | 1,300,000 | ' | 200,000 | 15,400,000 | ' | ' | ' | ' |
Share Price | ' | ' | ' | ' | ' | ' | ' | $19.40 | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Value, Issued for Services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 340,418 | ' | ' |
Sales of noncontrolling interests, net of fees | ' | ' | ' | ' | ' | ' | ' | 1,197,500,000 | 37,600,000 | 14,800,000 | ' | ' | ' | ' | 35,300,000 | ' |
Noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | 1,218,200,000 | 80,100,000 | ' | ' | ' | ' | ' | 8,900,000 | ' |
Initial public offering | ' | ' | ' | ' | ' | ' | ' | ' | $17,200,000 | ' | ' | ' | ' | ' | ' | $1,173,100,000 |
Reclassification_out_of_Accumu2
Reclassification out of Accumulated Other Comprehensive Loss (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income (Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Amount reclassified from AOCL to interest expense | ' | ' | ' | ' | ' | ' | ' | ' | $2,253 | $2,100.30 | $2,121.70 | ||
Related tax impact | ' | ' | ' | ' | ' | ' | ' | ' | -1,549.70 | -870.5 | -534.6 | ||
Net loss | -1,752 | -761.8 | -209.2 | -216.7 | -476.5 | -503.4 | -241.8 | -281.1 | -2,939.80 | [1] | -1,502.80 | [1] | -704.1 |
Accumulated Defined Benefit Plans Adjustment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income (Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Amount reclassified from AOCL to interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 0.7 | ' | ' | ||
Related tax impact | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ||
Net loss | ' | ' | ' | ' | ' | ' | ' | ' | 0.7 | ' | ' | ||
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income (Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Amount reclassified from AOCL to interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 4 | 28.4 | 265.7 | ||
Related tax impact | ' | ' | ' | ' | ' | ' | ' | ' | -1.5 | -10.3 | -117.3 | ||
Net loss | ' | ' | ' | ' | ' | ' | ' | ' | $2.50 | $18.10 | $148.40 | ||
[1] | Amount rounds to zero. |
Casino_Promotional_Allowances_2
Casino Promotional Allowances (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Promotional Allowances | $1,178.60 | $1,252.10 | $1,232.30 |
Cost of Promotional Allowances | 685.3 | 713.1 | 716.1 |
Food and Beverage [Member] | ' | ' | ' |
Promotional Allowances | 628.5 | 651.3 | 636.9 |
Cost of Promotional Allowances | 459 | 476.7 | 469 |
Rooms [Member] | ' | ' | ' |
Promotional Allowances | 457.6 | 481.1 | 484.3 |
Cost of Promotional Allowances | 178.7 | 186.7 | 188.2 |
Other Promotional Allowances [Member] | ' | ' | ' |
Promotional Allowances | 92.5 | 119.7 | 111.1 |
Cost of Promotional Allowances | $47.60 | $49.70 | $58.90 |
Writedowns_Reserves_and_Projec2
Write-downs, Reserves, and Project Opening Costs, net of Recoveries (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Write-downs and reserves, net of recoveries: | ' | ' | ' |
Remediation costs | $28.50 | $21.10 | $11 |
Divestitures and abandonments | 22.8 | 59.1 | 10.1 |
Efficiency projects | 0 | 17.5 | 46.6 |
Gain on ThistleDown transactions (Note 4) | 0 | -11 | 0 |
Suffolk Downs equity investment write-off (Note 4) | 41.9 | 0 | 0 |
Project opening costs | 15.4 | 12.6 | 4.7 |
Other | -4.2 | 0.4 | 1.4 |
Total | $104.40 | $99.70 | $73.80 |
Writedowns_Reserves_and_Projec3
Write-downs, Reserves, and Project Opening Costs, net of Recoveries - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Gain (Loss) on Disposition of Property Plant Equipment | ($22.80) | ($59.10) | ($10.10) |
Potential Joint Venture [Member] | ' | ' | ' |
Gain (Loss) on Disposition of Property Plant Equipment | ' | 15 | ' |
Mississippi [Member] | ' | ' | ' |
Gain (Loss) on Disposition of Property Plant Equipment | $16.50 | $28.80 | $8.30 |
Income_Taxes_Components_of_Los
Income Taxes - Components of (Loss)/Income Before Income Taxes (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Components of (Loss)/Income Before Income Taxes [Line Items] | ' | ' | ' |
Income/(loss) from continuing operations before income taxes | ($4,459.50) | ($2,258.70) | ($1,266) |
United States [Member] | ' | ' | ' |
Components of (Loss)/Income Before Income Taxes [Line Items] | ' | ' | ' |
Income/(loss) from continuing operations before income taxes | -4,652 | -2,341.90 | -1,271.50 |
Outside of the U.S. [Member] | ' | ' | ' |
Components of (Loss)/Income Before Income Taxes [Line Items] | ' | ' | ' |
Income/(loss) from continuing operations before income taxes | $192.50 | $83.20 | $5.50 |
Income_Taxes_Components_of_Inc
Income Taxes - Components of Income Tax Provision (Benefit) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Current - Federal | ($6.40) | ($72) | ($1) |
Current - State | -82.6 | 5.6 | -16.4 |
Deferred - Federal | -1,421.40 | -726.7 | -450.6 |
Deferred - State | -51.2 | -87.1 | -70.1 |
Current - Ouside of the U.S. | 28.5 | 13 | 8.8 |
Deferred - Ouside of the U.S. | -16.6 | -3.3 | -5.3 |
Total income tax benefit | ($1,549.70) | ($870.50) | ($534.60) |
Income_Taxes_Allocation_of_Tot
Income Taxes - Allocation of Total Income Taxes (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income tax (benefit)/provision applicable to: | ' | ' | ' |
Loss from continuing operations, before income taxes | ($1,549.70) | ($870.50) | ($534.60) |
Discontinued operations | 0.2 | 50.1 | 27.8 |
Accumulated other comprehensive income/(loss) | 15.9 | 10.9 | 70.9 |
Retained earnings | 0 | 0 | 6 |
Additional paid in capital | $14.50 | ($2.10) | $11.60 |
Income_Taxes_Effective_Income_
Income Taxes - Effective Income Tax Rate Reconciliation (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Statutory tax rate | 35.00% | 35.00% | 35.00% |
State taxes, net of federal tax benefit | 6.40% | 4.40% | 8.70% |
Valuation allowance | -9.50% | -2.30% | -6.80% |
Foreign income taxes | 0.10% | 0.00% | 2.40% |
Goodwill | -0.40% | -1.40% | 0.10% |
Stock based compensation | -0.20% | -0.20% | 0.00% |
Officers’ life insurance/insurance proceeds | 0.00% | 0.10% | -0.30% |
Acquisition and integration costs | 0.10% | -0.20% | 0.00% |
Reserves for uncertain tax positions | 0.00% | 3.10% | -0.20% |
Deferred tax liability adjustment | 0.00% | 0.00% | 3.30% |
Capital loss tax benefit | 4.00% | 0.00% | 0.00% |
CGP LLC transaction deferred tax adjustment | -0.80% | 0.00% | 0.00% |
Other | 0.00% | 0.00% | 0.00% |
Effective tax rate | 34.70% | 38.50% | 42.20% |
Income_Taxes_Components_of_Def
Income Taxes - Components of Deferred Tax Assets and Liabilities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Income Tax Disclosure [Abstract] | ' | ' |
State net operating losses | $252.80 | $180.30 |
Foreign net operating losses | 24.3 | 37.8 |
Federal net operating loss | 1,280.90 | 850.2 |
Compensation programs | 141.5 | 120.6 |
Allowance for doubtful accounts | 76.4 | 87.6 |
Self-insurance reserves | 16.4 | 15.7 |
Accrued expenses | 44.4 | 44.6 |
Federal tax credits | 34.7 | 33.7 |
Federal indirect tax benefits of uncertain state tax positions | 27.2 | 52.8 |
Outside basis difference in foreign subsidiaries | 0 | 61.5 |
Investment in CGP LLC | 23.4 | 0 |
Investments in non-consolidated affiliates | 38.7 | 0 |
Capital loss carryover | 136.4 | 0 |
Deferred revenue | 41.2 | 2 |
Other | 10.3 | 18.6 |
Subtotal | 2,148.60 | 1,505.40 |
Less: valuation allowance | 739.5 | 330 |
Total deferred tax assets | 1,409.10 | 1,175.40 |
Depreciation and other property-related items | 1,188.90 | 2,241.70 |
Deferred cancellation of debt income and other debt-related items | 1,833.60 | 1,913.40 |
Management and other contracts | 0 | 3.9 |
Intangibles | 1,118.10 | 1,255.70 |
Prepaid expenses | 25 | 28.3 |
Investments in non-consolidated affiliates | 0 | 3.5 |
Total deferred tax liabilities | 4,165.60 | 5,446.50 |
Net deferred tax liability | $2,756.50 | $4,271.10 |
Income_Taxes_Deferred_Tax_Asse
Income Taxes - Deferred Tax Assets and Liabilities as Presented in Consolidated Balance Sheets (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Income Tax Disclosure [Abstract] | ' | ' |
Deferred income taxes (current) | $8.70 | $114.90 |
Deferred income taxes (current) | 289.2 | 0 |
Liabilities held for sale (non-current) | 0 | 51.9 |
Deferred income taxes (non-current) | 2,476 | 4,334.10 |
Net deferred tax liability | $2,756.50 | $4,271.10 |
Income_Taxes_Unrecognized_Tax_
Income Taxes - Unrecognized Tax Benefits (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Unrecognized Tax Benefits [Roll Forward] | ' | ' | ' |
Beginning Balance | $333.40 | $532.30 | $567.40 |
Additions based on tax positions related to the current year | 0.8 | 9.5 | 4.2 |
Additions for tax positions of prior years | 6.7 | 3.3 | 2 |
Reductions for tax positions for prior years | -50.5 | -203.7 | -36.4 |
Settlements | -81.6 | -7.9 | 0 |
Expiration of statutes | -66.5 | -0.1 | -4.9 |
Ending Balance | $142.30 | $333.40 | $532.30 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | |||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2014 |
Foreign Tax Credits Deducted on 2006 Tax Return [Member] | Foreign Tax Credits Deducted on 2007 Tax Return [Member] | Federal [Member] | Federal [Member] | State [Member] | State [Member] | Foreign [Member] | Foreign [Member] | Equity Component [Domain] | Scenario, Forecast [Member] | ||||
Income Tax And Carryforwards [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax provision allocated to accumulated other comprehensive income/(loss) | $15.90 | $10.90 | $70.90 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax impact of the reclassification of losses on derivative instruments from accumulated other comprehensive loss to interest expense | ' | ' | 117.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax impact related to the change in fair market value of derivatives | ' | ' | 28.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax impact of foreign currency translation adjustments | ' | ' | 19.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity impact of tax deductions related to equity compensation | 141.5 | 120.6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.4 | ' |
Operating loss carryforward | ' | ' | ' | ' | ' | 3,654.70 | 2,418.20 | 6,500.70 | 5,976.80 | 118.9 | 162.4 | ' | ' |
Federal general business tax credits carryforward | 27.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred Tax Assets, Capital Loss Carryforwards | 370.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating Loss Carryforwards, Valuation Allowance | 336.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating loss carryforward, amount to expire | 22.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign tax credit carryforwards | 7.2 | 12.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign tax credits deducted on amended tax return | ' | ' | ' | 12.4 | 12.6 | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign Tax Credit Carryforward Subject to Expiration | 7.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred Tax Assets, Investments in Foreign Subsidiaries | 110.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred tax assets, valuation allowance for Investments in foreign subsidiaries | 13.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax benefit due to IRS settlements | 51.4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest and penalties accrued for unrecognized tax benefits, current period | -10 | -8 | 19 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest and penalties accrued for unrecognized tax benefits, total | 63 | 73 | 80 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized tax benefits that would impact the effective tax rate | 91 | 219 | 287 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations | $66.50 | $0.10 | $4.90 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $66.40 |
Fair_Value_Measurements_Fair_V
Fair Value Measurements - Fair Value of Financial Assets and Financial Liabilities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Millions, unless otherwise specified | ||||
Assets: | ' | ' | ||
Investments | $91.70 | $114.20 | ||
Fair Value, Measurements, Recurring [Member] | ' | ' | ||
Assets: | ' | ' | ||
Investments | 91.7 | 114.2 | ||
Derivative instruments | 0 | [1] | 0 | [1] |
Liabilities: | ' | ' | ||
Derivative instruments | -165.9 | -306.4 | ||
Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ' | ' | ||
Assets: | ' | ' | ||
Investments | 91.7 | 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 | -165.9 | -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 $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Investments | $91.70 | $114.20 |
Equity [Member] | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Investments | 19.6 | 2.8 |
Government bonds [Member] | ' | ' |
Fair Value Of Other Financial Instrument [Line Items] | ' | ' |
Investments | $72.10 | $111.40 |
Fair_Value_Measurements_Fair_V2
Fair Value Measurements - Fair Value of Assets Required to be Measured at Fair Value (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Assets held for sale, net | $11.90 | ' | ' |
Total Adjustments Loss/(Gain) | 3,018.90 | 1,074.20 | 32.8 |
Level 1 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Assets held for sale, net | 0 | ' | ' |
Level 2 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Assets held for sale, net | 0 | ' | ' |
Level 3 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Assets held for sale, net | 11.9 | ' | ' |
Fair Value, Measurements, Nonrecurring [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Intangible and tangible assets | 311.8 | ' | ' |
Fair Value, Measurements, Nonrecurring [Member] | Intangible and Tangible Assets [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Total Adjustments Loss/(Gain) | 2,440.10 | ' | ' |
Fair Value, Measurements, Nonrecurring [Member] | Assets Held-for-sale [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Total Adjustments Loss/(Gain) | 25.3 | ' | ' |
Fair Value, Measurements, Nonrecurring [Member] | Caesars Interactive Entertainment [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Contingent earnout liability | 61.9 | ' | ' |
Fair Value, Measurements, Nonrecurring [Member] | Caesars Interactive Entertainment [Member] | Contingent earnout liability [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Total Adjustments Loss/(Gain) | 53.4 | ' | ' |
Fair Value, Measurements, Nonrecurring [Member] | Level 1 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Intangible and tangible assets | 0 | ' | ' |
Fair Value, Measurements, Nonrecurring [Member] | Level 1 [Member] | Caesars Interactive Entertainment [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Contingent earnout liability | 0 | ' | ' |
Fair Value, Measurements, Nonrecurring [Member] | Level 2 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Intangible and tangible assets | 0 | ' | ' |
Fair Value, Measurements, Nonrecurring [Member] | Level 2 [Member] | Caesars Interactive Entertainment [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Contingent earnout liability | 0 | ' | ' |
Fair Value, Measurements, Nonrecurring [Member] | Level 3 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Intangible and tangible assets | 311.8 | ' | ' |
Fair Value, Measurements, Nonrecurring [Member] | Level 3 [Member] | Caesars Interactive Entertainment [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Contingent earnout liability | $61.90 | ' | ' |
Litigation_Contractual_Commitm2
Litigation, Contractual Commitments and Contingent Liabilities - Additional Information (Detail) (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 |
shows | Hilton Matter [Member] | Hilton Matter [Member] | Hilton Matter [Member] | Hilton Matter [Member] | Hilton Matter [Member] | Hilton Matter [Member] | Hilton Matter [Member] | Class size and members [Member] | Indian Land [Member] | PHW Las Vegas , LLC [Member] | ||
Casinos | Minimum [Member] | Maximum [Member] | Hilton Hotels Corporation [Member] | Hilton Hotels Corporation [Member] | Hilton Hotels Corporation [Member] | Hilton Matter [Member] | Casinos | |||||
Minimum [Member] | Maximum [Member] | Hilton Hotels Corporation [Member] | ||||||||||
Contingencies and Commitments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number Of Casinos Operated Or Managed | 52 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' |
Aggregate monthly commitment for the minimum guaranteed payments to tribes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1.20 | $36.20 |
Aggregate non-cancelable purchase obligations | 812.2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other Commitments, Total Shows Under Contract | 96 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Bond Posted by Third Party | ' | ' | ' | ' | ' | ' | 75.8 | ' | ' | ' | ' | ' |
Estimated damages | ' | ' | ' | ' | 80 | ' | ' | 80 | 280 | 50 | ' | ' |
Maximum potential exposure for Company, percent | ' | ' | ' | ' | 30.00% | 33.00% | ' | ' | ' | ' | ' | ' |
Charge recorded against earnings | ' | ' | 25 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated Litigation Liability | ' | ' | ' | 61.6 | 35 | 53.5 | ' | ' | ' | ' | ' | ' |
Estimated Litigation Liability, Current | ' | ' | ' | ' | 17.9 | 18.5 | ' | ' | ' | ' | ' | ' |
Self-insurance claims and reserves | $208.20 | $202 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Leases_Net_Rental_Expense_Deta
Leases - Net Rental Expense (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Leases [Abstract] | ' | ' | ' |
Noncancelable, Minimum rental expense | $71.50 | $115.20 | $102.10 |
Noncancelable, Contingent rental expense | 2.1 | 2.3 | 2.4 |
Noncancelable, Sublease rental expense | -0.9 | -0.9 | -0.9 |
Operating Leases, Rent Expense | 57.7 | 77.9 | 74.6 |
Net rental expense | $130.40 | $194.50 | $178.20 |
Leases_Leases_Future_Minimum_R
Leases Leases - Future Minimum Rental Commitments (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Leases [Abstract] | ' |
Capital Leases, Due 2014 | $16.10 |
Noncancelable Operating Leases, Due 2014 | 61.1 |
Capital Leases, Due 2015 | 7.8 |
Noncancelable Operating Leases, Due 2015 | 58.9 |
Capital Leases, Due 2016 | 0 |
Noncancelable Operating Leases, Due 2016 | 54.7 |
Capital Leases, Due 2017 | 0 |
Noncancelable Operating Leases, Due 2017 | 53.8 |
Capital Leases, Due 2018 | 0 |
Noncancelable Operating Leases, Due 2018 | 53.9 |
Capital Leases, Due 2019 and thereafter | 0 |
Noncancelable Operating Leases, Due 2019 and thereafter | 1,059.10 |
Capital Leases, Total minimum rental commitments | 23.9 |
Noncancelable Operating Leases, Total minimum rental commitments | 1,341.50 |
Capital Leases: Less amounts representing interest | -1.7 |
Capital Leases, Present value of net minimum lease payments | $22.20 |
Leases_Leases_Textuals_Details
Leases Leases - Textuals (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Minimum [Member] | ' |
Operating Leased Assets [Line Items] | ' |
Lessee Leasing Arrangements, Operating Leases, Term of Contract | '1 year |
Maximum [Member] | ' |
Operating Leased Assets [Line Items] | ' |
Lessee Leasing Arrangements, Operating Leases, Term of Contract | '84 years |
Automatic lease extensions (in years) | '80 years |
Supplemental_Cash_Flow_Informa2
Supplemental Cash Flow Information - Supplemental Cash Flow Reconciliation (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Supplemental Cash Flow Information [Abstract] | ' | ' | ' |
Amount reclassified from AOCL to interest expense | $2,253 | $2,100.30 | $2,121.70 |
Adjustments to reconcile to cash paid for interest: | ' | ' | ' |
Net change in accrued interest | -125.4 | -13.1 | -11.9 |
Amortization of deferred finance charges | -51.2 | -88.5 | -70.3 |
Net amortization of discounts and premiums | -308.9 | -226.3 | -157.2 |
Reclassification of accumulated other comprehensive loss | 0 | 0 | -183.2 |
Amortization of other comprehensive loss | -4.7 | -29.1 | -83.3 |
Rollover of PIK interest to principal | -1.2 | -1 | -1.1 |
Change in fair value of derivative instruments | 137.6 | 29.6 | 70.3 |
Cash paid for interest | $1,899.20 | $1,771.90 | $1,685 |
StockBased_Compensation_StockB1
Stock-Based Compensation Stock-Based Compensation Expense Recognized (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Stock-based compensation expense | $56.50 | $55.10 | $21.80 |
Corporate expenses [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Stock-based compensation expense | 24.8 | 29.1 | 13.8 |
Property, general, administrative and other [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Stock-based compensation expense | $31.70 | $26 | $8 |
StockBased_Compensation_Summar
Stock-Based Compensation Summary of Share-Based Option Activity (Details) (USD $) | 12 Months Ended | |||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' | ' | |||
Options outstanding, Number | 8,478,148 | ' | ' | |||
Options Granted in Period | 550,812 | 8,173,944 | 2,252,457 | |||
Options Exercised in Period | -143,109 | 0 | 0 | |||
Options Forfeitures in Period | -344,656 | ' | ' | |||
Options Expired in Period | -77,384 | ' | ' | |||
Options outstanding, Number | 8,463,811 | 8,478,148 | ' | |||
Options Outstanding, Weighted Average Exercise Price | $12.22 | ' | ' | |||
Options Granted in Period, Weighted Average Exercise Price | $13.65 | [1] | $8.44 | [1],[2] | $26.23 | [1],[2] |
Options Exercised in Period, Weighted Average Exercise Price | $8.38 | ' | ' | |||
Options Forfeitures in Period, Weighted Average Exercise Price | $10.64 | ' | ' | |||
Options Expired in Period, Weighted Average Exercise Price | $16.42 | ' | ' | |||
Options Outstanding, Weighted Average Exercise Price | $12.09 | $12.22 | ' | |||
Options Outstanding, Weighted Average Grant Date Fair Value | $3.51 | [1] | ' | ' | ||
Options Granted in Period, Weighted Average Grant Date Fair Value | $5.95 | [1] | $3.50 | [1] | $10.55 | [1] |
Options Exercised in Period, Weighted Average Grant Date Fair Value | $7.33 | [1] | ' | ' | ||
Options Forfeitures in Period, Weighted Average Grant Date Fair Value | $3.01 | [1] | ' | ' | ||
Options Expired in Period, Weighted Average Grant Date Fair Value | $5.40 | [1] | ' | ' | ||
Options Outstanding, Weighted Average Grant Date Fair Value | $2.68 | [1] | $3.51 | [1] | ' | |
Options Vested and Expected to Vest, Outstanding, Number | 7,975,096 | ' | ' | |||
Options Exercisable, Number | 2,314,229 | ' | ' | |||
Options Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price | $11.96 | ' | ' | |||
Options Exercisable, Weighted Average Exercise Price | $15.53 | ' | ' | |||
Options Vested and Expected to Vest, Outstanding, Weighted Average Grant Date Fair Value | $2.84 | [1] | ' | ' | ||
Options Exercisable, Weighted Average Grant Date Fair Value | $4.58 | [1] | ' | ' | ||
Options Outstanding, Weighted Average Remaining Contractual Term | '8 years 6 months | ' | ' | |||
Options Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | '8 years 6 months | ' | ' | |||
Options Exercisable, Weighted Average Remaining Contractual Term | '8 years 3 months | ' | ' | |||
[1] | Represents the weighted-average grant date fair value per option, using the Monte Carlo simulation option-pricing model for performance-based options, and the Black-Scholes option-pricing model for time-based options. | |||||
[2] | Adjusted for the February 2012 1.742-for-1 stock split. |
StockBased_Compensation_Disclo
Stock-Based Compensation Disclosure of Share-based Compensation Arrangements by Share-based Payment Award (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||
In Millions, except Share data, unless otherwise specified | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' | ' | ' | |||
Number of options granted | ' | 550,812 | 8,173,944 | 2,252,457 | |||
Weighted Average Grant-Date Fair Value per share | ' | $5.95 | [1] | $3.50 | [1] | $10.55 | [1] |
Weighted Average Exercise Price per Share | ' | $13.65 | [1] | $8.44 | [1],[2] | $26.23 | [1],[2] |
Number of options exercised | ' | 143,109 | 0 | 0 | |||
Cash received for options exercised | ' | $1.20 | $0 | $0 | |||
Intrinsic value of options exercised | ' | 1.5 | 0 | 0 | |||
Intrinsic Value of Options Vested and Expected to Vest | ' | $86.10 | $0 | $0 | |||
Stock split ratio | 1.742 | ' | ' | ' | |||
[1] | Represents the weighted-average grant date fair value per option, using the Monte Carlo simulation option-pricing model for performance-based options, and the Black-Scholes option-pricing model for time-based options. | ||||||
[2] | Adjusted for the February 2012 1.742-for-1 stock split. |
StockBased_Compensation_ShareB
Stock-Based Compensation Share-Based Option Activity - Valuation Assumptions (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ' | ' |
Expected volatility | 57.40% | 55.80% | 65.80% |
Expected dividend yield | 0.00% | 0.00% | 0.00% |
Expected term | '3 years 9 months | '4 years 10 months 24 days | '4 years 9 months 18 days |
Risk-free interest rate | 1.00% | 0.90% | 1.10% |
StockBased_Compensation_Schedu
Stock-Based Compensation Schedule of Stock-Based Compensation, Restricted Stock and Restricted Stock Unit Activity (Details) (Restricted Stock Units (RSUs) [Member], USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Restricted Stock Units (RSUs) [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward] | ' |
Units, Outstanding, beginning balance | 0 |
Units Granted in Period | 1,579,837 |
Units Forfeited in Period | -76,303 |
Units, Outstanding, ending balance | 1,503,534 |
Fair Value, Outstanding, beginning balance | $0 |
Fair Value, Granted in Period | $13.74 |
Fair Value, Forfeited in Period | $13.70 |
Fair Value, Outstanding, ending balance | $13.74 |
StockBased_Compensation_StockB2
Stock-Based Compensation Stock-Based Compensation (Details) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Nov. 29, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 |
Subsidiary [Member] | Subsidiary [Member] | Subsidiary [Member] | Minimum [Member] | Maximum [Member] | Chairman, CEO and President Performance-Based Options [Member] | Chairman, CEO and President Performance-Based Options [Member] | Chairman, CEO and President Performance-Based Options [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Management Equity Incentive Plan [Member] | Management Equity Incentive Plan [Member] | Management Equity Incentive Plan [Member] | Management Equity Incentive Plan [Member] | Management Equity Incentive Plan [Member] | Management Equity Incentive Plan [Member] | 2012 Incentive Plan [Member] | 2012 Incentive Plan [Member] | 2012 Incentive Plan [Member] | 2012 Incentive Plan [Member] | 2012 Incentive Plan [Member] | 2012 Incentive Plan [Member] | 2012 Incentive Plan [Member] | 2012 Incentive Plan [Member] | 2012 Incentive Plan [Member] | 2012 Incentive Plan [Member] | 2012 Incentive Plan [Member] | 2012 Incentive Plan [Member] | Caesars Interactive Entertainment [Member] | Caesars Interactive Entertainment [Member] | ||||
Annual [Member] | First Vesting Hurdle [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Vesting Period One [Member] | Vesting Period Two [Member] [Member] | Employee Stock Option [Member] | Performance Shares [Member] | Performance Shares [Member] | Performance Shares [Member] | Performance Shares [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | |||||||||||||||||
Majority Stockholders return realized [Member] | Majority Stockholders return realized [Member] | Sponsors return realized, $57.41 per share vesting [Member] | Sponsors return realized, $35.00 per share vesting [Member] | Performance Based Vesting [Member] | ||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Option Exchange Program Contractual Term | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation | $56.50 | $55.10 | $22.20 | $25.40 | $20.60 | $0.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $15.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Return On Investment | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | ' | ' | ' | 2.00% | ' | 1.75% | ' | 2.00% | ' | ' | ' | ' | ' | ' | 2.00% | 1.50% | ' | ' | ' | ' | ' | ' |
Number Of Trailing Days Of Common Stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | '30 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '30 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Vesting percentage of performace-based options | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 8,463,811 | 8,478,148 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,053 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,449,468 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Stock Options Exercise Price | ' | $20.09 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Option Exchange Program Eligible Exercise Price | $8.22 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage Of Stock Options Vesting Per Year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock Closing Price Per Share | ' | ' | ' | ' | ' | ' | ' | ' | $57.41 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $35 | ' | ' | $57.41 | ' | ' | ' | ' | ' |
Number Of Stock Options Eligible For Exchange | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 290,334 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | 50.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | '3 years 4 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Value, Restricted Stock Award, Gross | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $21.70 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | ' | ' | 0.00% | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Units Granted in Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,579,837 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 50,000 | 0 | 5,260 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,503,534 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,000 | 50,000 | ' | 7,991 | ' |
Fair Value, Granted in Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $13.74 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $5,470 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $13.74 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3,853 |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | ' | ' | ' | ' | ' | ' | '4 years 0 months | '5 years 6 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '4 years | ' | ' | ' | ' | '2 years | ' | ' | ' | ' |
Employee_Benefit_Plans_Pension
Employee Benefit Plans - Pension Plan Participation and Contribution Summary (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Multiemployer Plans [Line Items] | ' | ' | ' | |||
Contributions | $48.60 | $46.90 | $44.80 | |||
Southern Nevada Culinary and Bartenders Pension Plan [Member] | ' | ' | ' | |||
Multiemployer Plans [Line Items] | ' | ' | ' | |||
Entity Tax Identification Number | '886016617 | ' | ' | |||
Pension Plan Number | '001 | ' | ' | |||
Pension Protection Act Zone Status | 'Green | [1] | 'Green | [1] | ' | |
FIP/RP Status Pending/Implemented | 'No | [2] | ' | ' | ||
Contributions | 20 | 18.7 | 16.3 | |||
Surcharge Imposed | 'No | ' | ' | |||
Expiration Date of Collective-Bargaining Agreement | 31-May-18 | ' | ' | |||
Pension Plan of the UNITE HERE National Retirement Fund [Member] | ' | ' | ' | |||
Multiemployer Plans [Line Items] | ' | ' | ' | |||
Entity Tax Identification Number | '136130178 | ' | ' | |||
Pension Plan Number | '001 | ' | ' | |||
Pension Protection Act Zone Status | 'Red | [1] | 'Red | [1] | ' | |
FIP/RP Status Pending/Implemented | 'Implemented | [2] | ' | ' | ||
Contributions | 14 | 13.8 | 12.8 | |||
Surcharge Imposed | 'No | ' | ' | |||
Expiration Date of Collective-Bargaining Agreement | 14-Sep-14 | ' | ' | |||
Local 68 Engineers Union Pension Plan2 [Member] | ' | ' | ' | |||
Multiemployer Plans [Line Items] | ' | ' | ' | |||
Entity Tax Identification Number | '510176618 | [3] | ' | ' | ||
Pension Plan Number | '001 | [3] | ' | ' | ||
Pension Protection Act Zone Status | 'Yellow | [1],[3] | 'Green | [1],[3] | ' | |
FIP/RP Status Pending/Implemented | 'Pending | [2],[3] | ' | ' | ||
Contributions | 1.5 | [3] | 1.5 | [3] | 1.6 | [3] |
Surcharge Imposed | 'No | [3] | ' | ' | ||
Expiration Date of Collective-Bargaining Agreement | 30-Apr-14 | [3] | ' | ' | ||
NJ Carpenters Pension Fund [Member] | ' | ' | ' | |||
Multiemployer Plans [Line Items] | ' | ' | ' | |||
Entity Tax Identification Number | '226174423 | ' | ' | |||
Pension Plan Number | '001 | ' | ' | |||
Pension Protection Act Zone Status | 'Yellow | [1] | 'Yellow | [1] | ' | |
FIP/RP Status Pending/Implemented | 'Implemented | [2] | ' | ' | ||
Contributions | 0.5 | 0.4 | 0.4 | |||
Surcharge Imposed | 'No | ' | ' | |||
Expiration Date of Collective-Bargaining Agreement | 30-Apr-14 | ' | ' | |||
Other Funds [Member] | ' | ' | ' | |||
Multiemployer Plans [Line Items] | ' | ' | ' | |||
Contributions | $12.60 | $12.50 | $13.70 | |||
[1] | Represents the Pension Protection Act ("PPA") zone status for applicable plan year beginning January 1, 2013, except where noted otherwise. | |||||
[2] | Indicates plans for which a financial improvement plan ("FIP") or a rehabilitation plan ("RP") is either pending or has been implemented. | |||||
[3] | Plan years begin July 1. |
Employee_Benefit_Plans_Summary
Employee Benefit Plans - Summary of Plans Where Contributions Exceeded Five Percent of Total Plan Contributions (Details) | 12 Months Ended | |
Dec. 31, 2012 | Dec. 31, 2011 | |
Pension Plan of the UNITE HERE National Retirement Fund [Member] | ' | ' |
Multiemployer Plans [Line Items] | ' | ' |
Year Contributions to Plan Exceeded More Than 5% of Total Contributions | 'true | 'true |
Southern Nevada Culinary and Bartenders Pension Plan [Member] | ' | ' |
Multiemployer Plans [Line Items] | ' | ' |
Year Contributions to Plan Exceeded More Than 5% of Total Contributions | 'true | 'true |
Local 68 Engineers Union Pension Plan2 [Member] | ' | ' |
Multiemployer Plans [Line Items] | ' | ' |
Year Contributions to Plan Exceeded More Than 5% of Total Contributions | 'true | 'true |
Nevada Resort Association IATSE Local 720 Retirement Plan [Member] | ' | ' |
Multiemployer Plans [Line Items] | ' | ' |
Year Contributions to Plan Exceeded More Than 5% of Total Contributions | 'true | 'true |
Employee_Benefit_Plans_Savings
Employee Benefit Plans - Savings and Retirement Plan (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||||
Defined Contribution Savings and Retirement Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Deferred Compensation Liability, Classified, Noncurrent | $84,300,000 | ' | ' | ' | $82,800,000 | ' | ' | ' | $84,300,000 | $82,800,000 | ' | |||
Property, general, administrative, and other | ' | ' | ' | ' | ' | ' | ' | ' | 2,168,600,000 | [1] | 2,043,500,000 | [1] | 2,093,500,000 | [1] |
Basic and diluted loss per share (usd per share) | ($12.83) | ($6.03) | ($1.69) | ($1.74) | ($3.84) | ($4.03) | ($1.93) | ($2.24) | ($22.93) | ($12.04) | ($5.80) | |||
Effect of change in accounting for accruals for casino jackpot liabilities, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | |||
Defined Benefit Plan, Expected Return on Plan Assets | ' | ' | ' | ' | ' | ' | ' | ' | 0.063 | ' | ' | |||
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 4.40% | ' | ' | ' | ' | ' | ' | ' | 4.40% | ' | ' | |||
Defined Contribution Savings and Retirement Plan [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Defined Contribution Savings and Retirement Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Defined Contribution Plan, Maximum Annual Contribution Per Employee, Percent | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | |||
Employer annual cap per participant | ' | ' | ' | ' | ' | ' | ' | ' | 600 | ' | ' | |||
Contribution expense | ' | ' | ' | ' | ' | ' | ' | ' | 12,500,000 | 10,000,000 | 38,000 | |||
Deferred Compensation Arrangement with Individual, by Type of Compensation, Pension and Other Postretirement Benefits [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Defined Contribution Savings and Retirement Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Pension and Other Postretirement and Postemployment Benefit Plans, Liabilities, Noncurrent | 29,700,000 | ' | ' | ' | 32,000,000 | ' | ' | ' | 29,700,000 | 32,000,000 | ' | |||
London Clubs International [Domain] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Defined Contribution Savings and Retirement Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Pension Expense | ' | ' | ' | ' | ' | ' | ' | ' | 9,900,000 | 6,800,000 | 27,500,000 | |||
Property, general, administrative, and other | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,800,000 | 9,900,000 | |||
Basic and diluted loss per share (usd per share) | ' | ' | ' | ' | ' | ' | ' | ' | ($0.07) | ($0.09) | ($0.30) | |||
Defined Benefit Plan, Fair Value of Plan Assets | 195,800,000 | ' | ' | ' | ' | ' | ' | ' | 195,800,000 | ' | ' | |||
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets, Aggregate Accumulated Benefit Obligation | 270,800,000 | ' | ' | ' | ' | ' | ' | ' | 270,800,000 | ' | ' | |||
Defined Benefit Pension Plan, Liabilities | 75,000,000 | ' | ' | ' | ' | ' | ' | ' | 75,000,000 | ' | ' | |||
Retained Earnings [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Defined Contribution Savings and Retirement Plan Disclosure [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Effect of change in accounting for accruals for casino jackpot liabilities, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($44,300,000) | [2] | ||
Immaterial Error Correction | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6.2 | |||
[1] | As discussed in Note 21, "Employee Benefit Plans," we elected to change our method of accounting for actuarial gains and losses for our pension plan in the United Kingdom to a more preferable method permitted under GAAP. We applied this accounting change retrospectively to all periods presented on the noted line items. | |||||||||||||
[2] | Amount rounds to zero. |
Related_Party_Transactions_Add
Related Party Transactions - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Related Party Transactions [Abstract] | ' | ' | ' |
Fees paid to the sponsors | $22.50 | $30 | $30 |
Subsequent_Events_Additional_I
Subsequent Events - Additional Information (Detail) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Subsequent Event [Line Items] | ' | ' | ' | |
Long-term Debt | $21,115.50 | $21,412.10 | ' | |
Change in assets acquired through financing activities and capital leases | 67.4 | 35.8 | 4.2 | |
Caesars Growth Partners, LLC [Member] | ' | ' | ' | |
Subsequent Event [Line Items] | ' | ' | ' | |
Long-term Debt | 721.7 | 486 | ' | |
Subsequent Event [Member] | Caesars Growth Partners, LLC [Member] | ' | ' | ' | |
Subsequent Event [Line Items] | ' | ' | ' | |
Sales Price Of Subsidiary | 2,000 | ' | ' | |
Second Lien Notes [Member] | Subsequent Event [Member] | Caesars Growth Partners, LLC [Member] | ' | ' | ' | |
Subsequent Event [Line Items] | ' | ' | ' | |
Long-term Purchase Commitment, Amount | 223 | ' | ' | |
Secured Debt [Member] | Caesars Growth Partners, LLC [Member] | ' | ' | ' | |
Subsequent Event [Line Items] | ' | ' | ' | |
Long-term Debt | 456.1 | 438.2 | ' | |
Secured Debt [Member] | Subsequent Event [Member] | Caesars Growth Partners, LLC [Member] | ' | ' | ' | |
Subsequent Event [Line Items] | ' | ' | ' | |
Long-term Debt | 1,325 | [1] | ' | ' |
Secured Debt [Member] | Secured Debt [Member] | Subsequent Event [Member] | Caesars Growth Partners, LLC [Member] | ' | ' | ' | |
Subsequent Event [Line Items] | ' | ' | ' | |
Long-term Debt | 1,175 | ' | ' | |
Secured Debt [Member] | Senior Secured Financing [Member] | Subsequent Event [Member] | Caesars Growth Partners, LLC [Member] | ' | ' | ' | |
Subsequent Event [Line Items] | ' | ' | ' | |
Long-term Debt | 150 | ' | ' | |
Secured Debt [Member] | Second Lien Notes [Member] | Subsequent Event [Member] | Caesars Growth Partners, LLC [Member] | ' | ' | ' | |
Subsequent Event [Line Items] | ' | ' | ' | |
Long-term Debt | $675 | ' | ' | |
[1] | Guaranteed by Caesars Entertainment. |
Condensed_Consolidating_Financ2
Condensed Consolidating Financial Information of Guarantors and Issuers - Condensed Consolidating Balance Sheet (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Millions, unless otherwise specified | ||||
Current assets | ' | ' | ' | ' |
Cash and cash equivalents | $2,771.20 | $1,757.50 | $891.20 | $971.10 |
Restricted cash | 87.5 | 833.6 | ' | ' |
Receivables, net | 619.9 | 580.5 | ' | ' |
Deferred income taxes | 8.7 | 114.9 | ' | ' |
Prepayments and other current assets | 237.4 | 150 | ' | ' |
Inventories | 45.6 | 52 | ' | ' |
Intercompany receivables | 0 | 0 | ' | ' |
Assets held for sale | 0 | 5.1 | ' | ' |
Total current assets | 3,770.30 | 3,493.60 | ' | ' |
Property and equipment, net | 13,237.90 | 15,701.70 | ' | ' |
Goodwill | 3,063.30 | 3,160.30 | 3,360.40 | ' |
Intangible assets other than goodwill | 3,487.70 | 3,985.70 | 4,363.20 | ' |
Investments in subsidiaries | 0 | 0 | ' | ' |
Investments in and advances to non-consolidated affiliates | 176.8 | 100.4 | ' | ' |
Restricted cash | 336.8 | 364.6 | ' | ' |
Deferred charges and other | 604.2 | 720.6 | ' | ' |
Deferred income taxes | 0 | ' | ' | ' |
Intercompany receivables | 0 | 0 | ' | ' |
Assets held for sale | 11.9 | 471.2 | ' | ' |
Total assets | 24,688.90 | 27,998.10 | ' | ' |
Current liabilities | ' | ' | ' | ' |
Accounts payable | 442.7 | 376.2 | ' | ' |
Accrued expenses and other current liabilities | 1,212.30 | 1,098.50 | ' | ' |
Interest payable | 389.5 | 233.7 | ' | ' |
Deferred income taxes | 289.2 | 0 | ' | ' |
Current portion of long-term debt | 197.1 | 879.9 | ' | ' |
Intercompany payables | 0 | 0 | ' | ' |
Total current liabilities | 2,530.80 | 2,588.30 | ' | ' |
Long-term debt | 20,918.40 | 20,532.20 | ' | ' |
Accumulated losses of subsidiaries in excess of investment | 0 | 0 | ' | ' |
Deferred credits and other | 667.5 | 823 | ' | ' |
Deferred income taxes ($3.8 attributable to our VIEs in 2013) | 2,476 | 4,334.10 | ' | ' |
Intercompany payables | 0 | 0 | ' | ' |
Liabilities held for sale | 0 | 52.1 | ' | ' |
Total liabilities | 26,592.70 | 28,329.70 | ' | ' |
Total Caesars stockholders’ equity/(deficit) | -3,122 | -411.7 | ' | ' |
Noncontrolling interests | 1,218.20 | 80.1 | ' | ' |
Total equity/(deficit) | -1,903.80 | -331.6 | 1,053.40 | 1,672.60 |
Total liabilities and stockholders' deficit | 24,688.90 | 27,998.10 | ' | ' |
CEC (Parent Guarantor) [Member] | ' | ' | ' | ' |
Current assets | ' | ' | ' | ' |
Cash and cash equivalents | 113.3 | 7.4 | 3.9 | 136 |
Restricted cash | 30.5 | 0 | ' | ' |
Receivables, net | 0.1 | 0.1 | ' | ' |
Deferred income taxes | 0 | 0 | ' | ' |
Prepayments and other current assets | 0 | 5 | ' | ' |
Inventories | 0 | 0 | ' | ' |
Intercompany receivables | 0.8 | 29.6 | ' | ' |
Assets held for sale | 0 | 0 | ' | ' |
Total current assets | 144.7 | 42.1 | ' | ' |
Property and equipment, net | 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 | 20 | 0 | ' | ' |
Deferred charges and other | 1 | 7.5 | ' | ' |
Deferred income taxes | 7.8 | 0 | ' | ' |
Intercompany receivables | 340.5 | 563.1 | ' | ' |
Assets held for sale | 0 | 0 | ' | ' |
Total assets | 514 | 612.7 | ' | ' |
Current liabilities | ' | ' | ' | ' |
Accounts payable | 0.3 | 3.9 | ' | ' |
Accrued expenses and other current liabilities | 3.8 | 3.7 | ' | ' |
Interest payable | 0 | 0 | ' | ' |
Deferred income taxes | 0 | 0 | ' | ' |
Current portion of long-term debt | 0 | 0 | ' | ' |
Intercompany payables | 5.3 | 15.9 | ' | ' |
Total current liabilities | 9.4 | 23.5 | ' | ' |
Long-term debt | 0 | 0 | ' | ' |
Accumulated losses of subsidiaries in excess of investment | 3,582.10 | 925.4 | ' | ' |
Deferred credits and other | 0 | 4.1 | ' | ' |
Deferred income taxes ($3.8 attributable to our VIEs in 2013) | 0 | 0 | ' | ' |
Intercompany payables | 55 | 55 | ' | ' |
Liabilities held for sale | 0 | 0 | ' | ' |
Total liabilities | 3,646.50 | 1,008 | ' | ' |
Total Caesars stockholders’ equity/(deficit) | -3,132.50 | -395.3 | ' | ' |
Noncontrolling interests | 0 | 0 | ' | ' |
Total equity/(deficit) | -3,132.50 | -395.3 | ' | ' |
Total liabilities and stockholders' deficit | 514 | 612.7 | ' | ' |
Subsidiary Issuer [Member] | ' | ' | ' | ' |
Current assets | ' | ' | ' | ' |
Cash and cash equivalents | 996.4 | 911.9 | 16.6 | 61 |
Restricted cash | 0 | 0 | ' | ' |
Receivables, net | 45.4 | 19.5 | ' | ' |
Deferred income taxes | 0 | 17.4 | ' | ' |
Prepayments and other current assets | 26.1 | 8.3 | ' | ' |
Inventories | 0.3 | 0.3 | ' | ' |
Intercompany receivables | 358.7 | 295.5 | ' | ' |
Assets held for sale | 0 | 0 | ' | ' |
Total current assets | 1,426.90 | 1,252.90 | ' | ' |
Property and equipment, net | 204.9 | 189.9 | ' | ' |
Goodwill | 0 | 0 | ' | ' |
Intangible assets other than goodwill | 3.5 | 4.2 | ' | ' |
Investments in subsidiaries | 8,712.10 | 11,669.60 | ' | ' |
Investments in and advances to non-consolidated affiliates | 0 | 0 | ' | ' |
Restricted cash | 0 | 0 | ' | ' |
Deferred charges and other | 283.5 | 298.4 | ' | ' |
Deferred income taxes | 254.7 | ' | ' | ' |
Intercompany receivables | 1,092.80 | 1,089.60 | ' | ' |
Assets held for sale | 0 | 0 | ' | ' |
Total assets | 11,978.40 | 14,504.60 | ' | ' |
Current liabilities | ' | ' | ' | ' |
Accounts payable | 101 | 75.9 | ' | ' |
Accrued expenses and other current liabilities | 187.5 | 164.7 | ' | ' |
Interest payable | 282.4 | 176 | ' | ' |
Deferred income taxes | 363.5 | ' | ' | ' |
Current portion of long-term debt | 86 | 126.2 | ' | ' |
Intercompany payables | 9.6 | 88.1 | ' | ' |
Total current liabilities | 1,030 | 630.9 | ' | ' |
Long-term debt | 16,034 | 15,257 | ' | ' |
Accumulated losses of subsidiaries in excess of investment | 0 | 0 | ' | ' |
Deferred credits and other | 317.9 | 535 | ' | ' |
Deferred income taxes ($3.8 attributable to our VIEs in 2013) | 14.6 | 422.6 | ' | ' |
Intercompany payables | 285.4 | 614.5 | ' | ' |
Liabilities held for sale | 0 | 0 | ' | ' |
Total liabilities | 17,681.90 | 17,460 | ' | ' |
Total Caesars stockholders’ equity/(deficit) | -5,703.50 | -2,955.40 | ' | ' |
Noncontrolling interests | 0 | 0 | ' | ' |
Total equity/(deficit) | -5,703.50 | -2,955.40 | ' | ' |
Total liabilities and stockholders' deficit | 11,978.40 | 14,504.60 | ' | ' |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Current assets | ' | ' | ' | ' |
Cash and cash equivalents | 293.6 | 353.8 | 372.5 | 344.7 |
Restricted cash | 1 | 0 | ' | ' |
Receivables, net | 411.5 | 348 | ' | ' |
Deferred income taxes | 113.8 | 75.7 | ' | ' |
Prepayments and other current assets | 83.7 | 66.8 | ' | ' |
Inventories | 28.4 | 31.7 | ' | ' |
Intercompany receivables | 146.2 | 136.8 | ' | ' |
Assets held for sale | 0 | 0 | ' | ' |
Total current assets | 1,078.20 | 1,012.80 | ' | ' |
Property and equipment, net | 6,980.10 | 8,534.60 | ' | ' |
Goodwill | 1,260.20 | 1,331 | ' | ' |
Intangible assets other than goodwill | 2,837.50 | 3,183 | ' | ' |
Investments in subsidiaries | 258.1 | 920.3 | ' | ' |
Investments in and advances to non-consolidated affiliates | 3.5 | 3 | ' | ' |
Restricted cash | 0 | 0 | ' | ' |
Deferred charges and other | 154.8 | 184.8 | ' | ' |
Deferred income taxes | 0 | ' | ' | ' |
Intercompany receivables | 585.4 | 585.9 | ' | ' |
Assets held for sale | 11.9 | 0 | ' | ' |
Total assets | 13,169.70 | 15,755.40 | ' | ' |
Current liabilities | ' | ' | ' | ' |
Accounts payable | 181.7 | 156.5 | ' | ' |
Accrued expenses and other current liabilities | 486.6 | 434.7 | ' | ' |
Interest payable | 1.4 | 0.4 | ' | ' |
Deferred income taxes | 0 | ' | ' | ' |
Current portion of long-term debt | 23.6 | 10.7 | ' | ' |
Intercompany payables | 317.3 | 284.8 | ' | ' |
Total current liabilities | 1,010.60 | 887.1 | ' | ' |
Long-term debt | 92.1 | 64.8 | ' | ' |
Accumulated losses of subsidiaries in excess of investment | 0 | 0 | ' | ' |
Deferred credits and other | 214.3 | 160.2 | ' | ' |
Deferred income taxes ($3.8 attributable to our VIEs in 2013) | 1,552.20 | 2,188.90 | ' | ' |
Intercompany payables | 871.2 | 871.7 | ' | ' |
Liabilities held for sale | 0 | 0 | ' | ' |
Total liabilities | 3,740.40 | 4,172.70 | ' | ' |
Total Caesars stockholders’ equity/(deficit) | 9,429.30 | 11,582.70 | ' | ' |
Noncontrolling interests | 0 | 0 | ' | ' |
Total equity/(deficit) | 9,429.30 | 11,582.70 | ' | ' |
Total liabilities and stockholders' deficit | 13,169.70 | 15,755.40 | ' | ' |
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Current assets | ' | ' | ' | ' |
Cash and cash equivalents | 1,367.90 | 484.4 | 498.2 | 429.4 |
Restricted cash | 56 | 833.6 | ' | ' |
Receivables, net | 162.9 | 212.9 | ' | ' |
Deferred income taxes | 8.7 | 21.8 | ' | ' |
Prepayments and other current assets | 130.1 | 69.9 | ' | ' |
Inventories | 16.9 | 20 | ' | ' |
Intercompany receivables | 68.4 | 97.2 | ' | ' |
Assets held for sale | 0 | 5.1 | ' | ' |
Total current assets | 1,810.90 | 1,744.90 | ' | ' |
Property and equipment, net | 6,056.40 | 6,977.20 | ' | ' |
Goodwill | 1,803.10 | 1,829.30 | ' | ' |
Intangible assets other than goodwill | 646.7 | 798.5 | ' | ' |
Investments in subsidiaries | 958.1 | 790.7 | ' | ' |
Investments in and advances to non-consolidated affiliates | 173.3 | 97.4 | ' | ' |
Restricted cash | 316.8 | 364.6 | ' | ' |
Deferred charges and other | 258.3 | 236.6 | ' | ' |
Deferred income taxes | 11.3 | ' | ' | ' |
Intercompany receivables | 55 | 153.8 | ' | ' |
Assets held for sale | 0 | 471.2 | ' | ' |
Total assets | 12,089.90 | 13,464.20 | ' | ' |
Current liabilities | ' | ' | ' | ' |
Accounts payable | 159.7 | 139.9 | ' | ' |
Accrued expenses and other current liabilities | 536.9 | 495.4 | ' | ' |
Interest payable | 105.7 | 57.3 | ' | ' |
Deferred income taxes | 39.5 | ' | ' | ' |
Current portion of long-term debt | 87.5 | 743 | ' | ' |
Intercompany payables | 241.9 | 170.3 | ' | ' |
Total current liabilities | 1,171.20 | 1,605.90 | ' | ' |
Long-term debt | 5,768.90 | 6,122.90 | ' | ' |
Accumulated losses of subsidiaries in excess of investment | 0 | 0 | ' | ' |
Deferred credits and other | 222.5 | 123.7 | ' | ' |
Deferred income taxes ($3.8 attributable to our VIEs in 2013) | 1,176.10 | 1,714.70 | ' | ' |
Intercompany payables | 862.1 | 851.2 | ' | ' |
Liabilities held for sale | 0 | 52.1 | ' | ' |
Total liabilities | 9,200.80 | 10,470.50 | ' | ' |
Total Caesars stockholders’ equity/(deficit) | 1,670.90 | 2,913.60 | ' | ' |
Noncontrolling interests | 1,218.20 | 80.1 | ' | ' |
Total equity/(deficit) | 2,889.10 | 2,993.70 | ' | ' |
Total liabilities and stockholders' deficit | 12,089.90 | 13,464.20 | ' | ' |
Subsidiaries [Member] | ' | ' | ' | ' |
Current assets | ' | ' | ' | ' |
Cash and cash equivalents | 1,661.50 | 838.2 | 870.7 | 774.1 |
Restricted cash | 57 | 833.6 | ' | ' |
Receivables, net | 574.4 | 560.9 | ' | ' |
Deferred income taxes | 122.5 | 97.5 | ' | ' |
Prepayments and other current assets | 213.8 | 136.7 | ' | ' |
Inventories | 45.3 | 51.7 | ' | ' |
Intercompany receivables | 214.6 | 234 | ' | ' |
Assets held for sale | 0 | 5.1 | ' | ' |
Total current assets | 2,889.10 | 2,757.70 | ' | ' |
Property and equipment, net | 13,036.50 | 15,511.80 | ' | ' |
Goodwill | 3,063.30 | 3,160.30 | ' | ' |
Intangible assets other than goodwill | 3,484.20 | 3,981.50 | ' | ' |
Investments in subsidiaries | 1,216.20 | 1,711 | ' | ' |
Investments in and advances to non-consolidated affiliates | 176.8 | 100.4 | ' | ' |
Restricted cash | 316.8 | 364.6 | ' | ' |
Deferred charges and other | 413.1 | 421.4 | ' | ' |
Deferred income taxes | 11.3 | ' | ' | ' |
Intercompany receivables | 640.4 | 739.7 | ' | ' |
Assets held for sale | 11.9 | 471.2 | ' | ' |
Total assets | 25,259.60 | 29,219.60 | ' | ' |
Current liabilities | ' | ' | ' | ' |
Accounts payable | 341.4 | 296.4 | ' | ' |
Accrued expenses and other current liabilities | 1,023.50 | 930.1 | ' | ' |
Interest payable | 107.1 | 57.7 | ' | ' |
Deferred income taxes | 39.5 | ' | ' | ' |
Current portion of long-term debt | 111.1 | 753.7 | ' | ' |
Intercompany payables | 559.2 | 455.1 | ' | ' |
Total current liabilities | 2,181.80 | 2,493 | ' | ' |
Long-term debt | 5,861 | 6,187.70 | ' | ' |
Accumulated losses of subsidiaries in excess of investment | 0 | 0 | ' | ' |
Deferred credits and other | 436.8 | 283.9 | ' | ' |
Deferred income taxes ($3.8 attributable to our VIEs in 2013) | 2,728.30 | 3,903.60 | ' | ' |
Intercompany payables | 1,733.30 | 1,722.90 | ' | ' |
Liabilities held for sale | 0 | 52.1 | ' | ' |
Total liabilities | 12,941.20 | 14,643.20 | ' | ' |
Total Caesars stockholders’ equity/(deficit) | 11,100.20 | 14,496.30 | ' | ' |
Noncontrolling interests | 1,218.20 | 80.1 | ' | ' |
Total equity/(deficit) | 12,318.40 | 14,576.40 | ' | ' |
Total liabilities and stockholders' deficit | 25,259.60 | 29,219.60 | ' | ' |
Consolidating/ Eliminating Adjustments [Member] | ' | ' | ' | ' |
Current assets | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Restricted cash | 0 | 0 | ' | ' |
Receivables, net | 0 | 0 | ' | ' |
Deferred income taxes | -113.8 | 0 | ' | ' |
Prepayments and other current assets | -2.5 | 0 | ' | ' |
Inventories | 0 | 0 | ' | ' |
Intercompany receivables | -574.1 | -559.1 | ' | ' |
Assets held for sale | 0 | 0 | ' | ' |
Total current assets | -690.4 | -559.1 | ' | ' |
Property and equipment, net | -3.5 | 0 | ' | ' |
Goodwill | 0 | 0 | ' | ' |
Intangible assets other than goodwill | 0 | 0 | ' | ' |
Investments in subsidiaries | -9,928.30 | -13,380.60 | ' | ' |
Investments in and advances to non-consolidated affiliates | 0 | 0 | ' | ' |
Restricted cash | 0 | 0 | ' | ' |
Deferred charges and other | -93.4 | -6.7 | ' | ' |
Deferred income taxes | -273.8 | ' | ' | ' |
Intercompany receivables | -2,073.70 | -2,392.40 | ' | ' |
Assets held for sale | 0 | 0 | ' | ' |
Total assets | -13,063.10 | -16,338.80 | ' | ' |
Current liabilities | ' | ' | ' | ' |
Accounts payable | 0 | 0 | ' | ' |
Accrued expenses and other current liabilities | -2.5 | 0 | ' | ' |
Interest payable | 0 | 0 | ' | ' |
Deferred income taxes | -113.8 | ' | ' | ' |
Current portion of long-term debt | 0 | 0 | ' | ' |
Intercompany payables | -574.1 | -559.1 | ' | ' |
Total current liabilities | -690.4 | -559.1 | ' | ' |
Long-term debt | -976.6 | -912.5 | ' | ' |
Accumulated losses of subsidiaries in excess of investment | -3,582.10 | -925.4 | ' | ' |
Deferred credits and other | -87.2 | 0 | ' | ' |
Deferred income taxes ($3.8 attributable to our VIEs in 2013) | -266.9 | 7.9 | ' | ' |
Intercompany payables | -2,073.70 | -2,392.40 | ' | ' |
Liabilities held for sale | 0 | 0 | ' | ' |
Total liabilities | -7,676.90 | -4,781.50 | ' | ' |
Total Caesars stockholders’ equity/(deficit) | -5,386.20 | -11,557.30 | ' | ' |
Noncontrolling interests | 0 | 0 | ' | ' |
Total equity/(deficit) | -5,386.20 | -11,557.30 | ' | ' |
Total liabilities and stockholders' deficit | ($13,063.10) | ($16,338.80) | ' | ' |
Condensed_Consolidating_Financ3
Condensed Consolidating Financial Information of Guarantors and Issuers - Condensed Consolidating Statement of Comprehensive Income/(Loss) (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Casino | ' | ' | ' | ' | ' | ' | ' | ' | $5,808.80 | $6,243 | $6,389.90 | |||
Food and beverage | ' | ' | ' | ' | ' | ' | ' | ' | 1,510 | 1,507.60 | 1,506.10 | |||
Rooms | ' | ' | ' | ' | ' | ' | ' | ' | 1,219.60 | 1,205.50 | 1,193.10 | |||
Management fees | ' | ' | ' | ' | ' | ' | ' | ' | 57 | 47.3 | 35.8 | |||
Other | ' | ' | ' | ' | ' | ' | ' | ' | 874.8 | 762 | 647.1 | |||
Reimbursed management costs | ' | ' | ' | ' | ' | ' | ' | ' | 268.1 | 67.1 | 26.9 | |||
Less: casino promotional allowances | ' | ' | ' | ' | ' | ' | ' | ' | -1,178.60 | -1,252.10 | -1,232.30 | |||
Net revenues | 2,078.40 | 2,180 | 2,158.20 | 2,143.20 | 2,014.90 | 2,195.80 | 2,163.70 | 2,206.10 | 8,559.70 | 8,580.40 | 8,566.60 | |||
Direct | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Casino | ' | ' | ' | ' | ' | ' | ' | ' | 3,280.50 | 3,553 | 3,615.20 | |||
Food and beverage | ' | ' | ' | ' | ' | ' | ' | ' | 658.4 | 657.6 | 657 | |||
Rooms | ' | ' | ' | ' | ' | ' | ' | ' | 305.4 | 297.6 | 286.2 | |||
Property, general, administrative, and other | ' | ' | ' | ' | ' | ' | ' | ' | 2,168.60 | [1] | 2,043.50 | [1] | 2,093.50 | [1] |
Reimbursable management costs | ' | ' | ' | ' | ' | ' | ' | ' | 268.1 | 67.1 | 26.9 | |||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 565.2 | 714.4 | 677 | |||
Write-downs, reserves, and project opening costs, net of recoveries | ' | ' | ' | ' | ' | ' | ' | ' | 104.4 | 99.7 | 73.8 | |||
Impairment of intangible and tangible assets | ' | ' | ' | ' | ' | ' | ' | ' | 3,018.90 | 1,074.20 | 32.8 | |||
(Income)/loss on interests in non-consolidated affiliates | ' | ' | ' | ' | ' | ' | ' | ' | 17.6 | 17.5 | 7.9 | |||
(Income)/loss on interests in subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Corporate expense | ' | ' | ' | ' | ' | ' | ' | ' | 161.4 | 195 | 152.8 | |||
Acquisition and integration costs | ' | ' | ' | ' | ' | ' | ' | ' | 81.3 | 6.1 | 4.3 | |||
Amortization of intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | 164.5 | 174.6 | 156.7 | |||
Total operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 10,794.30 | 8,900.30 | 7,784.10 | |||
Iincome/(loss) from operations | -1,864.20 | -637.5 | 125.3 | 141.8 | -353.4 | -216.8 | 189.1 | 61.3 | -2,234.60 | -319.9 | 782.5 | |||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -2,253 | -2,100.30 | -2,121.70 | |||
Gains/(losses) on early extinguishments of debt | ' | ' | ' | ' | ' | ' | ' | ' | -29.8 | 136 | 47.9 | |||
Gain on partial sale of subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | 44.1 | 0 | 0 | |||
Other income, including interest income | ' | ' | ' | ' | ' | ' | ' | ' | 13.8 | 25.5 | 25.3 | |||
Income/(loss) from continuing operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -4,459.50 | -2,258.70 | -1,266 | |||
Benefit/(provision) for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 1,549.70 | 870.5 | 534.6 | |||
Loss from continuing operations, net of income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -2,909.80 | -1,388.20 | -731.4 | |||
Discontinued operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Income/(loss) from discontinued operations | ' | ' | ' | ' | 0.7 | ' | ' | ' | -29.8 | -64.5 | 55.1 | |||
Benefit/(provision) for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -0.2 | -50.1 | -27.8 | |||
Loss from discontinued operations, net of income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -30 | -114.6 | 27.3 | |||
Net (loss)/income | -1,752 | -761.8 | -209.2 | -216.7 | -476.5 | -503.4 | -241.8 | -281.1 | -2,939.80 | [2] | -1,502.80 | [2] | -704.1 | |
Less: net income attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | -8.4 | -5.3 | -20.9 | |||
Net income/(loss) attributable to Caesars | -1,756.90 | -761.4 | -212.2 | -217.6 | -480.3 | -505.5 | -241.7 | -280.6 | -2,948.20 | -1,508.10 | -725 | |||
Other comprehensive income/(loss), net of income taxes: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Total other comprehensive income/(loss), net of income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -38.4 | 37.2 | 111.1 | |||
Less: foreign currency translation adjustments attributable to noncontrolling interests, net of income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 0.1 | -1.1 | -1.3 | |||
Comprehensive income/(loss) attributable to Caesars | ' | ' | ' | ' | ' | ' | ' | ' | -2,986.50 | -1,472 | -615.2 | |||
CEC (Parent Guarantor) [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Casino | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Food and beverage | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Rooms | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Management fees | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Other | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Reimbursed management costs | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Less: casino promotional allowances | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Direct | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Casino | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Food and beverage | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Rooms | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Property, general, administrative, and other | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Reimbursable management costs | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Write-downs, reserves, and project opening costs, net of recoveries | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 15 | 0 | |||
Impairment of intangible and tangible assets | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
(Income)/loss on interests in non-consolidated affiliates | ' | ' | ' | ' | ' | ' | ' | ' | -0.4 | 0 | 0 | |||
(Income)/loss on interests in subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 2,923 | 1,464.30 | 693.4 | |||
Corporate expense | ' | ' | ' | ' | ' | ' | ' | ' | 16 | 28.2 | 22.7 | |||
Acquisition and integration costs | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0.1 | |||
Amortization of intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Total operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 2,938.60 | 1,507.50 | 716.2 | |||
Iincome/(loss) from operations | ' | ' | ' | ' | ' | ' | ' | ' | -2,938.60 | -1,507.50 | -716.2 | |||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 2.3 | -1 | 0 | |||
Gains/(losses) on early extinguishments of debt | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Gain on partial sale of subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |||
Other income, including interest income | ' | ' | ' | ' | ' | ' | ' | ' | 23.1 | 18.3 | 25.5 | |||
Income/(loss) from continuing operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -2,913.20 | -1,490.20 | -690.7 | |||
Benefit/(provision) for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -0.1 | 9.1 | 3.1 | |||
Loss from continuing operations, net of income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -2,913.30 | -1,481.10 | -687.6 | |||
Discontinued operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Income/(loss) from discontinued operations | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Benefit/(provision) for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Loss from discontinued operations, net of income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Net (loss)/income | ' | ' | ' | ' | ' | ' | ' | ' | -2,913.30 | -1,481.10 | -687.6 | |||
Less: net income attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Net income/(loss) attributable to Caesars | ' | ' | ' | ' | ' | ' | ' | ' | -2,913.30 | -1,481.10 | -687.6 | |||
Other comprehensive income/(loss), net of income taxes: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Total other comprehensive income/(loss), net of income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Less: foreign currency translation adjustments attributable to noncontrolling interests, net of income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Comprehensive income/(loss) attributable to Caesars | ' | ' | ' | ' | ' | ' | ' | ' | -2,913.30 | -1,481.10 | -687.6 | |||
Subsidiary Issuer [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Casino | ' | ' | ' | ' | ' | ' | ' | ' | 56.4 | 53.9 | 62.6 | |||
Food and beverage | ' | ' | ' | ' | ' | ' | ' | ' | 13.2 | 12.5 | 14.2 | |||
Rooms | ' | ' | ' | ' | ' | ' | ' | ' | 15.9 | 17.8 | 16.7 | |||
Management fees | ' | ' | ' | ' | ' | ' | ' | ' | 1.2 | 3.9 | 0 | |||
Other | ' | ' | ' | ' | ' | ' | ' | ' | 55 | 54 | 46.5 | |||
Reimbursed management costs | ' | ' | ' | ' | ' | ' | ' | ' | 0.1 | 0 | 0 | |||
Less: casino promotional allowances | ' | ' | ' | ' | ' | ' | ' | ' | -17.3 | -19 | -19 | |||
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 124.5 | 123.1 | 121 | |||
Direct | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Casino | ' | ' | ' | ' | ' | ' | ' | ' | 36.7 | 37.7 | 40.9 | |||
Food and beverage | ' | ' | ' | ' | ' | ' | ' | ' | 5.7 | 5.9 | 6.7 | |||
Rooms | ' | ' | ' | ' | ' | ' | ' | ' | 2.4 | 1.7 | 2 | |||
Property, general, administrative, and other | ' | ' | ' | ' | ' | ' | ' | ' | 31.5 | 23.5 | 54.2 | |||
Reimbursable management costs | ' | ' | ' | ' | ' | ' | ' | ' | 0.1 | 0 | 0 | |||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 4 | 6.7 | 6.8 | |||
Write-downs, reserves, and project opening costs, net of recoveries | ' | ' | ' | ' | ' | ' | ' | ' | 0.4 | 12.1 | 46.6 | |||
Impairment of intangible and tangible assets | ' | ' | ' | ' | ' | ' | ' | ' | 0.9 | 0 | 0 | |||
(Income)/loss on interests in non-consolidated affiliates | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
(Income)/loss on interests in subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 1,008.20 | 460.8 | -421.9 | |||
Corporate expense | ' | ' | ' | ' | ' | ' | ' | ' | 115.7 | 126.1 | 98.4 | |||
Acquisition and integration costs | ' | ' | ' | ' | ' | ' | ' | ' | 12.3 | 4.8 | 1 | |||
Amortization of intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | 0.7 | 0.7 | 0.7 | |||
Total operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 1,218.60 | 680 | -164.6 | |||
Iincome/(loss) from operations | ' | ' | ' | ' | ' | ' | ' | ' | -1,094.10 | -556.9 | 285.6 | |||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -2,075.50 | -1,934.20 | -1,953.30 | |||
Gains/(losses) on early extinguishments of debt | ' | ' | ' | ' | ' | ' | ' | ' | -29.5 | 0 | 0 | |||
Gain on partial sale of subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |||
Other income, including interest income | ' | ' | ' | ' | ' | ' | ' | ' | 60.5 | 79.2 | 70.7 | |||
Income/(loss) from continuing operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -3,138.60 | -2,411.90 | -1,597 | |||
Benefit/(provision) for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 797.5 | 732 | 776.8 | |||
Loss from continuing operations, net of income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -2,341.10 | -1,679.90 | -820.2 | |||
Discontinued operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Income/(loss) from discontinued operations | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Benefit/(provision) for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Loss from discontinued operations, net of income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Net (loss)/income | ' | ' | ' | ' | ' | ' | ' | ' | -2,341.10 | -1,679.90 | -820.2 | |||
Less: net income attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Net income/(loss) attributable to Caesars | ' | ' | ' | ' | ' | ' | ' | ' | -2,341.10 | -1,679.90 | -820.2 | |||
Other comprehensive income/(loss), net of income taxes: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Total other comprehensive income/(loss), net of income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 3.5 | -25 | 112.9 | |||
Less: foreign currency translation adjustments attributable to noncontrolling interests, net of income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Comprehensive income/(loss) attributable to Caesars | ' | ' | ' | ' | ' | ' | ' | ' | -2,337.60 | -1,704.90 | -707.3 | |||
Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Casino | ' | ' | ' | ' | ' | ' | ' | ' | 3,617.80 | 3,875.50 | 3,952.20 | |||
Food and beverage | ' | ' | ' | ' | ' | ' | ' | ' | 821.1 | 812.8 | 820.7 | |||
Rooms | ' | ' | ' | ' | ' | ' | ' | ' | 628.7 | 626.3 | 605.8 | |||
Management fees | ' | ' | ' | ' | ' | ' | ' | ' | 54.2 | 56.2 | 66.1 | |||
Other | ' | ' | ' | ' | ' | ' | ' | ' | 332 | 347.1 | 353.1 | |||
Reimbursed management costs | ' | ' | ' | ' | ' | ' | ' | ' | 52.7 | 28.4 | 26.9 | |||
Less: casino promotional allowances | ' | ' | ' | ' | ' | ' | ' | ' | -698.6 | -744.3 | -725.6 | |||
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 4,807.90 | 5,002 | 5,099.20 | |||
Direct | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Casino | ' | ' | ' | ' | ' | ' | ' | ' | 2,075.60 | 2,204.80 | 2,243.80 | |||
Food and beverage | ' | ' | ' | ' | ' | ' | ' | ' | 339.5 | 330.9 | 337.8 | |||
Rooms | ' | ' | ' | ' | ' | ' | ' | ' | 145.5 | 140.4 | 133.3 | |||
Property, general, administrative, and other | ' | ' | ' | ' | ' | ' | ' | ' | 1,166.10 | 1,137.40 | 1,208.80 | |||
Reimbursable management costs | ' | ' | ' | ' | ' | ' | ' | ' | 52.7 | 28.4 | 26.9 | |||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 342.3 | 445.4 | 427.5 | |||
Write-downs, reserves, and project opening costs, net of recoveries | ' | ' | ' | ' | ' | ' | ' | ' | 33.5 | 57.1 | 24.6 | |||
Impairment of intangible and tangible assets | ' | ' | ' | ' | ' | ' | ' | ' | 1,866.60 | 1,064.70 | 11 | |||
(Income)/loss on interests in non-consolidated affiliates | ' | ' | ' | ' | ' | ' | ' | ' | -0.6 | 0.5 | 1.8 | |||
(Income)/loss on interests in subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 102.2 | -6.6 | -44.7 | |||
Corporate expense | ' | ' | ' | ' | ' | ' | ' | ' | 21.8 | 32 | 22.3 | |||
Acquisition and integration costs | ' | ' | ' | ' | ' | ' | ' | ' | 0.1 | 0 | 1.1 | |||
Amortization of intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | 86.7 | 102.3 | 93.6 | |||
Total operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 6,232 | 5,537.30 | 4,487.80 | |||
Iincome/(loss) from operations | ' | ' | ' | ' | ' | ' | ' | ' | -1,424.10 | -535.3 | 611.4 | |||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -57.5 | -55.5 | -50.2 | |||
Gains/(losses) on early extinguishments of debt | ' | ' | ' | ' | ' | ' | ' | ' | -2 | 0 | 0 | |||
Gain on partial sale of subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | -8.9 | ' | ' | |||
Other income, including interest income | ' | ' | ' | ' | ' | ' | ' | ' | 22.8 | 21.2 | 17.6 | |||
Income/(loss) from continuing operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -1,469.70 | -569.6 | 578.8 | |||
Benefit/(provision) for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 481.9 | 174.4 | -215.3 | |||
Loss from continuing operations, net of income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -987.8 | -395.2 | 363.5 | |||
Discontinued operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Income/(loss) from discontinued operations | ' | ' | ' | ' | ' | ' | ' | ' | -0.8 | 62.1 | 75.3 | |||
Benefit/(provision) for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 0.3 | -29.1 | -13.4 | |||
Loss from discontinued operations, net of income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -0.5 | 33 | 61.9 | |||
Net (loss)/income | ' | ' | ' | ' | ' | ' | ' | ' | -988.3 | -362.2 | 425.4 | |||
Less: net income attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Net income/(loss) attributable to Caesars | ' | ' | ' | ' | ' | ' | ' | ' | -988.3 | -362.2 | 425.4 | |||
Other comprehensive income/(loss), net of income taxes: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Total other comprehensive income/(loss), net of income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Less: foreign currency translation adjustments attributable to noncontrolling interests, net of income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Comprehensive income/(loss) attributable to Caesars | ' | ' | ' | ' | ' | ' | ' | ' | -988.3 | -362.2 | 425.4 | |||
Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Casino | ' | ' | ' | ' | ' | ' | ' | ' | 2,134.60 | 2,313.60 | 2,375.10 | |||
Food and beverage | ' | ' | ' | ' | ' | ' | ' | ' | 675.7 | 682.3 | 671.2 | |||
Rooms | ' | ' | ' | ' | ' | ' | ' | ' | 575 | 561.4 | 570.6 | |||
Management fees | ' | ' | ' | ' | ' | ' | ' | ' | 23.2 | 11.6 | 3 | |||
Other | ' | ' | ' | ' | ' | ' | ' | ' | 672.7 | 541.3 | 393 | |||
Reimbursed management costs | ' | ' | ' | ' | ' | ' | ' | ' | 233.8 | 38.7 | 0 | |||
Less: casino promotional allowances | ' | ' | ' | ' | ' | ' | ' | ' | -462.7 | -488.8 | -487.7 | |||
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 3,852.30 | 3,660.10 | 3,525.20 | |||
Direct | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Casino | ' | ' | ' | ' | ' | ' | ' | ' | 1,168.20 | 1,310.50 | 1,330.50 | |||
Food and beverage | ' | ' | ' | ' | ' | ' | ' | ' | 313.2 | 320.8 | 312.5 | |||
Rooms | ' | ' | ' | ' | ' | ' | ' | ' | 157.5 | 155.5 | 150.9 | |||
Property, general, administrative, and other | ' | ' | ' | ' | ' | ' | ' | ' | 1,137.30 | 1,041.30 | 971 | |||
Reimbursable management costs | ' | ' | ' | ' | ' | ' | ' | ' | 233.8 | 38.7 | 0 | |||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 219.1 | 262.3 | 242.7 | |||
Write-downs, reserves, and project opening costs, net of recoveries | ' | ' | ' | ' | ' | ' | ' | ' | 70.5 | 15.5 | 2.6 | |||
Impairment of intangible and tangible assets | ' | ' | ' | ' | ' | ' | ' | ' | 1,151.40 | 9.5 | 21.8 | |||
(Income)/loss on interests in non-consolidated affiliates | ' | ' | ' | ' | ' | ' | ' | ' | 18.6 | 17 | 6.1 | |||
(Income)/loss on interests in subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Corporate expense | ' | ' | ' | ' | ' | ' | ' | ' | 48 | 54.9 | 47.7 | |||
Acquisition and integration costs | ' | ' | ' | ' | ' | ' | ' | ' | 68.9 | 1.3 | 2.1 | |||
Amortization of intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | 77.1 | 71.6 | 62.4 | |||
Total operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 4,663.60 | 3,298.90 | 3,150.30 | |||
Iincome/(loss) from operations | ' | ' | ' | ' | ' | ' | ' | ' | -811.3 | 361.2 | 374.9 | |||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -350.1 | -336.6 | -328 | |||
Gains/(losses) on early extinguishments of debt | ' | ' | ' | ' | ' | ' | ' | ' | 1.7 | 136 | 47.9 | |||
Gain on partial sale of subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | 53 | ' | ' | |||
Other income, including interest income | ' | ' | ' | ' | ' | ' | ' | ' | 190.9 | 159 | 134.2 | |||
Income/(loss) from continuing operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -915.8 | 319.6 | 229 | |||
Benefit/(provision) for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 257.6 | -88.5 | -46.1 | |||
Loss from continuing operations, net of income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -658.2 | 231.1 | 182.9 | |||
Discontinued operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Income/(loss) from discontinued operations | ' | ' | ' | ' | ' | ' | ' | ' | -29 | -126.6 | -20.2 | |||
Benefit/(provision) for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -0.5 | 13.7 | 1.7 | |||
Loss from discontinued operations, net of income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -29.5 | -112.9 | -18.5 | |||
Net (loss)/income | ' | ' | ' | ' | ' | ' | ' | ' | -687.7 | 118.2 | 164.4 | |||
Less: net income attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | -8.4 | -5.3 | -20.9 | |||
Net income/(loss) attributable to Caesars | ' | ' | ' | ' | ' | ' | ' | ' | -696.1 | 112.9 | 143.5 | |||
Other comprehensive income/(loss), net of income taxes: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Total other comprehensive income/(loss), net of income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 79.3 | -34.4 | -1.8 | |||
Less: foreign currency translation adjustments attributable to noncontrolling interests, net of income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 0.1 | -1.1 | -1.3 | |||
Comprehensive income/(loss) attributable to Caesars | ' | ' | ' | ' | ' | ' | ' | ' | -616.7 | 77.4 | 140.4 | |||
Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Casino | ' | ' | ' | ' | ' | ' | ' | ' | 5,752.40 | 6,189.10 | 6,327.30 | |||
Food and beverage | ' | ' | ' | ' | ' | ' | ' | ' | 1,496.80 | 1,495.10 | 1,491.90 | |||
Rooms | ' | ' | ' | ' | ' | ' | ' | ' | 1,203.70 | 1,187.70 | 1,176.40 | |||
Management fees | ' | ' | ' | ' | ' | ' | ' | ' | 77.4 | 67.8 | 69.1 | |||
Other | ' | ' | ' | ' | ' | ' | ' | ' | 1,004.70 | 888.4 | 746.1 | |||
Reimbursed management costs | ' | ' | ' | ' | ' | ' | ' | ' | 286.5 | 67.1 | 26.9 | |||
Less: casino promotional allowances | ' | ' | ' | ' | ' | ' | ' | ' | -1,161.30 | -1,233.10 | -1,213.30 | |||
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 8,660.20 | 8,662.10 | 8,624.40 | |||
Direct | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Casino | ' | ' | ' | ' | ' | ' | ' | ' | 3,243.80 | 3,515.30 | 3,574.30 | |||
Food and beverage | ' | ' | ' | ' | ' | ' | ' | ' | 652.7 | 651.7 | 650.3 | |||
Rooms | ' | ' | ' | ' | ' | ' | ' | ' | 303 | 295.9 | 284.2 | |||
Property, general, administrative, and other | ' | ' | ' | ' | ' | ' | ' | ' | 2,303.40 | 2,178.70 | 2,179.80 | |||
Reimbursable management costs | ' | ' | ' | ' | ' | ' | ' | ' | 286.5 | 67.1 | 26.9 | |||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 561.4 | 707.7 | 670.2 | |||
Write-downs, reserves, and project opening costs, net of recoveries | ' | ' | ' | ' | ' | ' | ' | ' | 104 | 72.6 | 27.2 | |||
Impairment of intangible and tangible assets | ' | ' | ' | ' | ' | ' | ' | ' | 3,018 | 1,074.20 | 32.8 | |||
(Income)/loss on interests in non-consolidated affiliates | ' | ' | ' | ' | ' | ' | ' | ' | 18 | 17.5 | 7.9 | |||
(Income)/loss on interests in subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 102.2 | -6.6 | -44.7 | |||
Corporate expense | ' | ' | ' | ' | ' | ' | ' | ' | 69.8 | 86.9 | 70 | |||
Acquisition and integration costs | ' | ' | ' | ' | ' | ' | ' | ' | 69 | 1.3 | 3.2 | |||
Amortization of intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | 163.8 | 173.9 | 156 | |||
Total operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 10,895.60 | 8,836.20 | 7,638.10 | |||
Iincome/(loss) from operations | ' | ' | ' | ' | ' | ' | ' | ' | -2,235.40 | -174.1 | 986.3 | |||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -407.6 | -392.1 | -378.2 | |||
Gains/(losses) on early extinguishments of debt | ' | ' | ' | ' | ' | ' | ' | ' | -0.3 | 136 | 47.9 | |||
Gain on partial sale of subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | 44.1 | ' | ' | |||
Other income, including interest income | ' | ' | ' | ' | ' | ' | ' | ' | 213.7 | 180.2 | 151.8 | |||
Income/(loss) from continuing operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -2,385.50 | -250 | 807.8 | |||
Benefit/(provision) for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 739.5 | 85.9 | -261.4 | |||
Loss from continuing operations, net of income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -1,646 | -164.1 | 546.4 | |||
Discontinued operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Income/(loss) from discontinued operations | ' | ' | ' | ' | ' | ' | ' | ' | -29.8 | -64.5 | 55.1 | |||
Benefit/(provision) for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -0.2 | -15.4 | -11.7 | |||
Loss from discontinued operations, net of income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -30 | -79.9 | 43.4 | |||
Net (loss)/income | ' | ' | ' | ' | ' | ' | ' | ' | -1,676 | -244 | 589.8 | |||
Less: net income attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | -8.4 | -5.3 | -20.9 | |||
Net income/(loss) attributable to Caesars | ' | ' | ' | ' | ' | ' | ' | ' | -1,684.40 | -249.3 | 568.9 | |||
Other comprehensive income/(loss), net of income taxes: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Total other comprehensive income/(loss), net of income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 79.3 | -34.4 | -1.8 | |||
Less: foreign currency translation adjustments attributable to noncontrolling interests, net of income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 0.1 | -1.1 | -1.3 | |||
Comprehensive income/(loss) attributable to Caesars | ' | ' | ' | ' | ' | ' | ' | ' | -1,605 | -284.8 | 565.8 | |||
Consolidating/ Eliminating Adjustments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Casino | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Food and beverage | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Rooms | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Management fees | ' | ' | ' | ' | ' | ' | ' | ' | -21.6 | -24.4 | -33.3 | |||
Other | ' | ' | ' | ' | ' | ' | ' | ' | -184.9 | -180.4 | -145.5 | |||
Reimbursed management costs | ' | ' | ' | ' | ' | ' | ' | ' | -18.5 | 0 | 0 | |||
Less: casino promotional allowances | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | -225 | -204.8 | -178.8 | |||
Direct | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Casino | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Food and beverage | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Rooms | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Property, general, administrative, and other | ' | ' | ' | ' | ' | ' | ' | ' | -166.3 | -158.7 | -140.5 | |||
Reimbursable management costs | ' | ' | ' | ' | ' | ' | ' | ' | -18.5 | 0 | 0 | |||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | -0.2 | 0 | 0 | |||
Write-downs, reserves, and project opening costs, net of recoveries | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Impairment of intangible and tangible assets | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
(Income)/loss on interests in non-consolidated affiliates | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
(Income)/loss on interests in subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | -4,033.40 | -1,918.50 | -226.8 | |||
Corporate expense | ' | ' | ' | ' | ' | ' | ' | ' | -40.1 | -46.2 | -38.3 | |||
Acquisition and integration costs | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Amortization of intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Total operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | -4,258.50 | -2,123.40 | -405.6 | |||
Iincome/(loss) from operations | ' | ' | ' | ' | ' | ' | ' | ' | 4,033.50 | 1,918.60 | 226.8 | |||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 227.8 | 227 | 209.8 | |||
Gains/(losses) on early extinguishments of debt | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Gain on partial sale of subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | |||
Other income, including interest income | ' | ' | ' | ' | ' | ' | ' | ' | -283.5 | -252.2 | -222.7 | |||
Income/(loss) from continuing operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 3,977.80 | 1,893.40 | 213.9 | |||
Benefit/(provision) for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 12.8 | 43.5 | 16.1 | |||
Loss from continuing operations, net of income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 3,990.60 | 1,936.90 | 230 | |||
Discontinued operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Income/(loss) from discontinued operations | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Benefit/(provision) for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -34.7 | -16.1 | |||
Loss from discontinued operations, net of income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -34.7 | -16.1 | |||
Net (loss)/income | ' | ' | ' | ' | ' | ' | ' | ' | 3,990.60 | 1,902.20 | 213.9 | |||
Less: net income attributable to noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Net income/(loss) attributable to Caesars | ' | ' | ' | ' | ' | ' | ' | ' | 3,990.60 | 1,902.20 | 213.9 | |||
Other comprehensive income/(loss), net of income taxes: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Total other comprehensive income/(loss), net of income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -121.2 | 96.6 | 0 | |||
Less: foreign currency translation adjustments attributable to noncontrolling interests, net of income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Comprehensive income/(loss) attributable to Caesars | ' | ' | ' | ' | ' | ' | ' | ' | $3,869.40 | $1,998.80 | $213.90 | |||
[1] | As discussed in Note 21, "Employee Benefit Plans," we elected to change our method of accounting for actuarial gains and losses for our pension plan in the United Kingdom to a more preferable method permitted under GAAP. We applied this accounting change retrospectively to all periods presented on the noted line items. | |||||||||||||
[2] | Amount rounds to zero. |
Condensed_Consolidating_Financ4
Condensed Consolidating Financial Information of Guarantors and Issuers - Condensed Consolidating Statement of Cash Flows (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Cash flows from operating activities | ($109.40) | $30.20 | $63 |
Cash flows from investing activities | ' | ' | ' |
Acquisitions of property and equipment, net of change in related payables | -726.3 | -507.1 | -272.5 |
Change in restricted cash | 773.9 | -680.5 | -517.7 |
Return of investment in subsidiary | ' | 0 | ' |
Purchase of additional interest in subsidiaries | 0 | 0 | -75.4 |
Purchase of Linq/Octavius from non-guarantor | 0 | ' | ' |
Proceeds from the sale of subsidiary, net of cash contributed | 0 | 42.4 | 0 |
Payments to acquire certain gaming rights | 0 | 0 | -22.7 |
Proceeds from partial sale of subsidiary, net of cash deconsolidated | 50.4 | 0 | 0 |
Payments to acquire businesses, net of transaction costs and cash acquired | -19.5 | -37.9 | -19 |
Investments in/advances to non-consolidated affiliates and other | -38.6 | -28.1 | -76 |
Dividends received | 0 | ' | ' |
Purchases of investment securities | -30 | -39.2 | -35.7 |
Proceeds from the sale and maturity of investment securities | 67.4 | 31.6 | 22.6 |
Proceeds received from (paid for) sale of assets | 0 | ' | ' |
Other | -12.5 | -5.5 | -9.9 |
Cash flows used in investing activities | 64.8 | -1,224.30 | -1,006.30 |
Cash flows from financing activities | ' | ' | ' |
Proceeds from the issuance of long-term debt | 6,038.70 | 3,709.40 | 863.8 |
Assumption of debt issued by non-guarantors | 0 | 0 | ' |
Debt issuance and extension costs and fees | -152.8 | -50.6 | -18.1 |
Borrowings under lending agreements | 0 | 453 | 358 |
Repayments under lending agreements | 0 | -608 | -203 |
Cash paid for early extinguishments of debt | -6,512.10 | -2,036.60 | -128.5 |
Scheduled debt retirements | -92.8 | -15.8 | -43.7 |
Dividends paid | 0 | ' | ' |
Purchase of additional interests in subsidiaries | -10 | -9.6 | 0 |
Sales of noncontrolling interests, net of fees | 1,197.50 | 37.6 | 14.8 |
Distributions to noncontrolling interest owners | -19.9 | -10.7 | -9.8 |
Issuance of common stock, net of fees | 217.2 | 17.4 | 0 |
Other | -14.7 | -13.5 | -22 |
Transfer (to)/from affiliates | 0 | 0 | 0 |
Cash flows from financing activities | 651.1 | 1,472.60 | 811.5 |
Cash flows from discontinued operations | ' | ' | ' |
Cash flows from operating activities | -9.4 | -20.6 | 60.1 |
Cash flows from investing activities | 411.9 | 599.7 | -10.7 |
Cash flows from financing activities | 0 | 0 | 0 |
Net cash from discontinued operations | 402.5 | 579.1 | 49.4 |
Net increase/(decrease) in cash and cash equivalents | 1,009 | 857.6 | -82.4 |
Change in cash classified as assets held for sale | 4.7 | 8.7 | 2.5 |
Cash and cash equivalents, beginning of period | 1,757.50 | 891.2 | 971.1 |
Cash and cash equivalents, end of period | 2,771.20 | 1,757.50 | 891.2 |
CEC (Parent Guarantor) [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Cash flows from operating activities | 407.9 | 258.6 | 182.9 |
Cash flows from investing activities | ' | ' | ' |
Acquisitions of property and equipment, net of change in related payables | 0 | 0 | 0 |
Change in restricted cash | -50.5 | 0 | 0 |
Return of investment in subsidiary | ' | 0 | ' |
Purchase of additional interest in subsidiaries | -581.2 | -232.5 | 0 |
Purchase of Linq/Octavius from non-guarantor | 80.7 | 0 | 0 |
Proceeds from the sale of subsidiary, net of cash contributed | ' | 0 | ' |
Payments to acquire certain gaming rights | ' | ' | 0 |
Proceeds from partial sale of subsidiary, net of cash deconsolidated | 0 | ' | ' |
Payments to acquire businesses, net of transaction costs and cash acquired | 0 | 0 | -123.5 |
Investments in/advances to non-consolidated affiliates and other | 0 | 0 | 0 |
Dividends received | 0 | ' | ' |
Purchases of investment securities | 0 | 0 | 0 |
Proceeds from the sale and maturity of investment securities | 0 | 0 | 0 |
Proceeds received from (paid for) sale of assets | -29 | 0 | 0 |
Other | -0.4 | -0.8 | 0 |
Cash flows used in investing activities | -741.8 | -233.3 | -123.5 |
Cash flows from financing activities | ' | ' | ' |
Proceeds from the issuance of long-term debt | 0 | 0 | 0 |
Assumption of debt issued by non-guarantors | 0 | 0 | ' |
Debt issuance and extension costs and fees | 0 | 0 | 0 |
Borrowings under lending agreements | ' | 0 | 0 |
Repayments under lending agreements | ' | 0 | 0 |
Cash paid for early extinguishments of debt | 0 | 0 | 0 |
Scheduled debt retirements | 0 | 0 | 0 |
Dividends paid | 0 | ' | ' |
Purchase of additional interests in subsidiaries | 0 | 0 | ' |
Sales of noncontrolling interests, net of fees | 0 | 0 | 0 |
Distributions to noncontrolling interest owners | 0 | 0 | 0 |
Issuance of common stock, net of fees | 217.2 | 17.4 | 0 |
Other | 0 | 0 | -1.7 |
Transfer (to)/from affiliates | 222.6 | -39.2 | -189.8 |
Cash flows from financing activities | 439.8 | -21.8 | -191.5 |
Cash flows from discontinued operations | ' | ' | ' |
Cash flows from operating activities | 0 | 0 | 0 |
Cash flows from investing activities | 0 | 0 | 0 |
Cash flows from financing activities | 0 | 0 | 0 |
Net cash from discontinued operations | 0 | 0 | 0 |
Net increase/(decrease) in cash and cash equivalents | 105.9 | 3.5 | -132.1 |
Change in cash classified as assets held for sale | 0 | 0 | 0 |
Cash and cash equivalents, beginning of period | 7.4 | 3.9 | 136 |
Cash and cash equivalents, end of period | 113.3 | 7.4 | 3.9 |
Subsidiary Issuer [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Cash flows from operating activities | -906.6 | 94.6 | -507.6 |
Cash flows from investing activities | ' | ' | ' |
Acquisitions of property and equipment, net of change in related payables | -18.7 | -9.6 | -12.3 |
Change in restricted cash | 0 | 0 | 0 |
Return of investment in subsidiary | ' | 0 | ' |
Purchase of additional interest in subsidiaries | -15.8 | -28.1 | 0 |
Purchase of Linq/Octavius from non-guarantor | 0 | ' | ' |
Proceeds from the sale of subsidiary, net of cash contributed | ' | 0 | ' |
Payments to acquire certain gaming rights | ' | ' | 0 |
Proceeds from partial sale of subsidiary, net of cash deconsolidated | 0 | ' | ' |
Payments to acquire businesses, net of transaction costs and cash acquired | 0 | 0 | -136.7 |
Investments in/advances to non-consolidated affiliates and other | 0 | 0 | 0 |
Dividends received | 831 | ' | ' |
Purchases of investment securities | 0 | 0 | 0 |
Proceeds from the sale and maturity of investment securities | 0 | 0 | 0 |
Proceeds received from (paid for) sale of assets | 29 | ' | ' |
Other | 0 | 0 | 0 |
Cash flows used in investing activities | 825.5 | -37.7 | -149 |
Cash flows from financing activities | ' | ' | ' |
Proceeds from the issuance of long-term debt | 127.2 | 432.2 | 418.3 |
Assumption of debt issued by non-guarantors | 2,199.40 | 1,981.30 | ' |
Debt issuance and extension costs and fees | -52.2 | -38.9 | -3.2 |
Borrowings under lending agreements | ' | 453 | 358 |
Repayments under lending agreements | ' | -608 | -203 |
Cash paid for early extinguishments of debt | -1,783.30 | -1,574.30 | 0 |
Scheduled debt retirements | -91.3 | -14.4 | -25.2 |
Dividends paid | 0 | ' | ' |
Purchase of additional interests in subsidiaries | 0 | 0 | ' |
Sales of noncontrolling interests, net of fees | 0 | 0 | 0 |
Distributions to noncontrolling interest owners | 0 | 0 | 0 |
Issuance of common stock, net of fees | 0 | 0 | ' |
Other | 0 | 0 | 0 |
Transfer (to)/from affiliates | -234.2 | 207.5 | 67.3 |
Cash flows from financing activities | 165.6 | 838.4 | 612.2 |
Cash flows from discontinued operations | ' | ' | ' |
Cash flows from operating activities | 0 | 0 | 0 |
Cash flows from investing activities | 0 | 0 | 0 |
Cash flows from financing activities | 0 | 0 | 0 |
Net cash from discontinued operations | 0 | 0 | 0 |
Net increase/(decrease) in cash and cash equivalents | 84.5 | 895.3 | -44.4 |
Change in cash classified as assets held for sale | 0 | 0 | 0 |
Cash and cash equivalents, beginning of period | 911.9 | 16.6 | 61 |
Cash and cash equivalents, end of period | 996.4 | 911.9 | 16.6 |
Subsidiary Guarantors of Parent and Subsidiary Guaranteed Debt [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Cash flows from operating activities | 330 | -505.1 | 72.7 |
Cash flows from investing activities | ' | ' | ' |
Acquisitions of property and equipment, net of change in related payables | -376.5 | -205.3 | -108.1 |
Change in restricted cash | -1 | 0 | 0 |
Return of investment in subsidiary | ' | 92.5 | ' |
Purchase of additional interest in subsidiaries | 0 | 0 | 0 |
Purchase of Linq/Octavius from non-guarantor | 0 | ' | ' |
Proceeds from the sale of subsidiary, net of cash contributed | ' | 0 | ' |
Payments to acquire certain gaming rights | ' | ' | 0 |
Proceeds from partial sale of subsidiary, net of cash deconsolidated | -25.7 | ' | ' |
Payments to acquire businesses, net of transaction costs and cash acquired | 0 | 0 | -49.1 |
Investments in/advances to non-consolidated affiliates and other | 0 | 0 | 0 |
Dividends received | 74.2 | ' | ' |
Purchases of investment securities | 0 | 0 | 0 |
Proceeds from the sale and maturity of investment securities | 0 | 0 | 0 |
Proceeds received from (paid for) sale of assets | 0 | ' | ' |
Other | -8.9 | -6.8 | -3.8 |
Cash flows used in investing activities | -337.9 | -119.6 | -161 |
Cash flows from financing activities | ' | ' | ' |
Proceeds from the issuance of long-term debt | 0 | 0 | 0 |
Assumption of debt issued by non-guarantors | 0 | 0 | ' |
Debt issuance and extension costs and fees | 0 | 0 | 0 |
Borrowings under lending agreements | ' | 0 | 0 |
Repayments under lending agreements | ' | 0 | 0 |
Cash paid for early extinguishments of debt | 0 | 0 | -2.6 |
Scheduled debt retirements | -1.5 | -1.4 | 0 |
Dividends paid | -48.4 | ' | ' |
Purchase of additional interests in subsidiaries | 0 | -9.6 | ' |
Sales of noncontrolling interests, net of fees | 0 | 0 | 0 |
Distributions to noncontrolling interest owners | 0 | 0 | 0 |
Issuance of common stock, net of fees | 0 | 0 | ' |
Other | -8.2 | -10.8 | -8.1 |
Transfer (to)/from affiliates | 6.3 | 0 | 49.1 |
Cash flows from financing activities | -51.8 | -21.8 | 38.4 |
Cash flows from discontinued operations | ' | ' | ' |
Cash flows from operating activities | -0.5 | 17.5 | 79.4 |
Cash flows from investing activities | 0 | 600.3 | -5.2 |
Cash flows from financing activities | 0 | 0 | 0 |
Net cash from discontinued operations | -0.5 | 617.8 | 74.2 |
Net increase/(decrease) in cash and cash equivalents | -60.2 | -28.7 | 24.3 |
Change in cash classified as assets held for sale | 0 | 10 | 3.5 |
Cash and cash equivalents, beginning of period | 353.8 | 372.5 | 344.7 |
Cash and cash equivalents, end of period | 293.6 | 353.8 | 372.5 |
Subsidiary Non-Guarantors of Parent and Subsidiary Guaranteed Debt [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Cash flows from operating activities | 52.2 | 144.9 | 298.9 |
Cash flows from investing activities | ' | ' | ' |
Acquisitions of property and equipment, net of change in related payables | -331.1 | -292.2 | -152.1 |
Change in restricted cash | 825.4 | -680.5 | -517.7 |
Return of investment in subsidiary | ' | 0 | ' |
Purchase of additional interest in subsidiaries | 0 | 0 | -75.4 |
Purchase of Linq/Octavius from non-guarantor | -80.7 | ' | ' |
Proceeds from the sale of subsidiary, net of cash contributed | ' | 42.4 | ' |
Payments to acquire certain gaming rights | ' | ' | -22.7 |
Proceeds from partial sale of subsidiary, net of cash deconsolidated | 76.1 | ' | ' |
Payments to acquire businesses, net of transaction costs and cash acquired | -19.5 | -37.9 | -19 |
Investments in/advances to non-consolidated affiliates and other | -38.6 | -28.1 | -76 |
Dividends received | 0 | ' | ' |
Purchases of investment securities | -30 | -39.2 | -35.7 |
Proceeds from the sale and maturity of investment securities | 67.4 | 31.6 | 22.6 |
Proceeds received from (paid for) sale of assets | 0 | ' | ' |
Other | -3.2 | 2.1 | -6.1 |
Cash flows used in investing activities | 627.2 | -1,001.80 | -882.1 |
Cash flows from financing activities | ' | ' | ' |
Proceeds from the issuance of long-term debt | 5,911.50 | 3,277.20 | 445.5 |
Assumption of debt issued by non-guarantors | -2,199.40 | -1,981.30 | ' |
Debt issuance and extension costs and fees | -100.6 | -11.7 | -14.9 |
Borrowings under lending agreements | ' | 0 | 0 |
Repayments under lending agreements | ' | 0 | 0 |
Cash paid for early extinguishments of debt | -4,728.80 | -462.3 | -125.9 |
Scheduled debt retirements | 0 | 0 | -18.5 |
Dividends paid | -856.8 | ' | ' |
Purchase of additional interests in subsidiaries | -10 | 0 | ' |
Sales of noncontrolling interests, net of fees | 1,197.50 | 37.6 | 14.8 |
Distributions to noncontrolling interest owners | -19.9 | -10.7 | -9.8 |
Issuance of common stock, net of fees | 0 | 0 | ' |
Other | -6.5 | -2.7 | -12.2 |
Transfer (to)/from affiliates | 609.4 | 2.3 | 382.7 |
Cash flows from financing activities | -203.6 | 848.4 | 661.7 |
Cash flows from discontinued operations | ' | ' | ' |
Cash flows from operating activities | -8.9 | -3.4 | -3.2 |
Cash flows from investing activities | 411.9 | -0.6 | -5.5 |
Cash flows from financing activities | 0 | 0 | 0 |
Net cash from discontinued operations | 403 | -4 | -8.7 |
Net increase/(decrease) in cash and cash equivalents | 878.8 | -12.5 | 69.8 |
Change in cash classified as assets held for sale | 4.7 | -1.3 | -1 |
Cash and cash equivalents, beginning of period | 484.4 | 498.2 | 429.4 |
Cash and cash equivalents, end of period | 1,367.90 | 484.4 | 498.2 |
Subsidiary Non-Guarantors of Parent-Only Guaranteed Debt [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Cash flows from operating activities | 382.2 | -360.2 | 371.6 |
Cash flows from investing activities | ' | ' | ' |
Acquisitions of property and equipment, net of change in related payables | -707.6 | -497.5 | -260.2 |
Change in restricted cash | 824.4 | -680.5 | -517.7 |
Return of investment in subsidiary | ' | 92.5 | ' |
Purchase of additional interest in subsidiaries | 0 | 0 | -75.4 |
Purchase of Linq/Octavius from non-guarantor | -80.7 | ' | ' |
Proceeds from the sale of subsidiary, net of cash contributed | ' | 42.4 | ' |
Payments to acquire certain gaming rights | ' | ' | -22.7 |
Proceeds from partial sale of subsidiary, net of cash deconsolidated | 50.4 | ' | ' |
Payments to acquire businesses, net of transaction costs and cash acquired | -19.5 | -37.9 | -68.1 |
Investments in/advances to non-consolidated affiliates and other | -38.6 | -28.1 | -76 |
Dividends received | 74.2 | ' | ' |
Purchases of investment securities | -30 | -39.2 | -35.7 |
Proceeds from the sale and maturity of investment securities | 67.4 | 31.6 | 22.6 |
Proceeds received from (paid for) sale of assets | 0 | ' | ' |
Other | -12.1 | -4.7 | -9.9 |
Cash flows used in investing activities | 289.3 | -1,121.40 | -1,043.10 |
Cash flows from financing activities | ' | ' | ' |
Proceeds from the issuance of long-term debt | 5,911.50 | 3,277.20 | 445.5 |
Assumption of debt issued by non-guarantors | -2,199.40 | -1,981.30 | ' |
Debt issuance and extension costs and fees | -100.6 | -11.7 | -14.9 |
Borrowings under lending agreements | ' | 0 | 0 |
Repayments under lending agreements | ' | 0 | 0 |
Cash paid for early extinguishments of debt | -4,728.80 | -462.3 | -128.5 |
Scheduled debt retirements | -1.5 | -1.4 | -18.5 |
Dividends paid | -905.2 | ' | ' |
Purchase of additional interests in subsidiaries | -10 | -9.6 | ' |
Sales of noncontrolling interests, net of fees | 1,197.50 | 37.6 | 14.8 |
Distributions to noncontrolling interest owners | -19.9 | -10.7 | -9.8 |
Issuance of common stock, net of fees | 0 | 0 | ' |
Other | -14.7 | -13.5 | -20.3 |
Transfer (to)/from affiliates | 615.7 | 2.3 | 431.8 |
Cash flows from financing activities | -255.4 | 826.6 | 700.1 |
Cash flows from discontinued operations | ' | ' | ' |
Cash flows from operating activities | -9.4 | 14.1 | 76.2 |
Cash flows from investing activities | 411.9 | 599.7 | -10.7 |
Cash flows from financing activities | 0 | 0 | 0 |
Net cash from discontinued operations | 402.5 | 613.8 | 65.5 |
Net increase/(decrease) in cash and cash equivalents | 818.6 | -41.2 | 94.1 |
Change in cash classified as assets held for sale | 4.7 | 8.7 | 2.5 |
Cash and cash equivalents, beginning of period | 838.2 | 870.7 | 774.1 |
Cash and cash equivalents, end of period | 1,661.50 | 838.2 | 870.7 |
Consolidating/ Eliminating Adjustments [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Cash flows from operating activities | 7.1 | 37.2 | 16.1 |
Cash flows from investing activities | ' | ' | ' |
Acquisitions of property and equipment, net of change in related payables | 0 | 0 | 0 |
Change in restricted cash | 0 | 0 | 0 |
Return of investment in subsidiary | ' | -92.5 | ' |
Purchase of additional interest in subsidiaries | 597 | 260.6 | 0 |
Purchase of Linq/Octavius from non-guarantor | 0 | ' | ' |
Proceeds from the sale of subsidiary, net of cash contributed | ' | 0 | ' |
Payments to acquire certain gaming rights | ' | ' | 0 |
Proceeds from partial sale of subsidiary, net of cash deconsolidated | 0 | ' | ' |
Payments to acquire businesses, net of transaction costs and cash acquired | 0 | 0 | 309.3 |
Investments in/advances to non-consolidated affiliates and other | 0 | 0 | 0 |
Dividends received | -905.2 | ' | ' |
Purchases of investment securities | 0 | 0 | 0 |
Proceeds from the sale and maturity of investment securities | 0 | 0 | 0 |
Proceeds received from (paid for) sale of assets | 0 | ' | ' |
Other | 0 | 0 | 0 |
Cash flows used in investing activities | -308.2 | 168.1 | 309.3 |
Cash flows from financing activities | ' | ' | ' |
Proceeds from the issuance of long-term debt | 0 | 0 | 0 |
Assumption of debt issued by non-guarantors | 0 | 0 | ' |
Debt issuance and extension costs and fees | 0 | 0 | 0 |
Borrowings under lending agreements | ' | 0 | 0 |
Repayments under lending agreements | ' | 0 | 0 |
Cash paid for early extinguishments of debt | 0 | 0 | 0 |
Scheduled debt retirements | 0 | 0 | 0 |
Dividends paid | 905.2 | ' | ' |
Purchase of additional interests in subsidiaries | 0 | 0 | ' |
Sales of noncontrolling interests, net of fees | 0 | 0 | 0 |
Distributions to noncontrolling interest owners | 0 | 0 | 0 |
Issuance of common stock, net of fees | 0 | 0 | ' |
Other | 0 | 0 | 0 |
Transfer (to)/from affiliates | -604.1 | -170.6 | -309.3 |
Cash flows from financing activities | 301.1 | -170.6 | -309.3 |
Cash flows from discontinued operations | ' | ' | ' |
Cash flows from operating activities | 0 | -34.7 | -16.1 |
Cash flows from investing activities | 0 | 0 | 0 |
Cash flows from financing activities | 0 | 0 | 0 |
Net cash from discontinued operations | 0 | -34.7 | -16.1 |
Net increase/(decrease) in cash and cash equivalents | 0 | 0 | 0 |
Change in cash classified as assets held for sale | 0 | 0 | 0 |
Cash and cash equivalents, beginning of period | 0 | 0 | 0 |
Cash and cash equivalents, end of period | $0 | $0 | $0 |
Quarterly_Results_of_Operation2
Quarterly Results of Operations (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Selected Quarterly Financial Information [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Net revenues | $2,078.40 | $2,180 | $2,158.20 | $2,143.20 | $2,014.90 | $2,195.80 | $2,163.70 | $2,206.10 | $8,559.70 | $8,580.40 | $8,566.60 | ||
Income/(loss) from operations | -1,864.20 | -637.5 | 125.3 | 141.8 | -353.4 | -216.8 | 189.1 | 61.3 | -2,234.60 | -319.9 | 782.5 | ||
Net loss | -1,752 | -761.8 | -209.2 | -216.7 | -476.5 | -503.4 | -241.8 | -281.1 | -2,939.80 | [1] | -1,502.80 | [1] | -704.1 |
Net income/(loss) attributable to Caesars | -1,756.90 | -761.4 | -212.2 | -217.6 | -480.3 | -505.5 | -241.7 | -280.6 | -2,948.20 | -1,508.10 | -725 | ||
Basic and diluted loss per share (usd per share) | ($12.83) | ($6.03) | ($1.69) | ($1.74) | ($3.84) | ($4.03) | ($1.93) | ($2.24) | ($22.93) | ($12.04) | ($5.80) | ||
Recasted Financial Information [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Net revenues as reported | ' | ' | ' | ' | 2,016.80 | ' | ' | ' | ' | ' | ' | ||
Less net revenues attributable to discontinued operations | ' | ' | ' | ' | -2 | ' | ' | ' | 3.3 | 218.3 | 267.9 | ||
Net revenues | 2,078.40 | 2,180 | 2,158.20 | 2,143.20 | 2,014.90 | 2,195.80 | 2,163.70 | 2,206.10 | 8,559.70 | 8,580.40 | 8,566.60 | ||
Income from operations as reported | ' | ' | ' | ' | -343.6 | ' | ' | ' | ' | ' | ' | ||
Effect of pension accounting change (Note 21) | ' | ' | ' | ' | -10.6 | ' | ' | ' | ' | ' | ' | ||
Less income from operations attributable to discontinued operations | ' | ' | ' | ' | 0.7 | ' | ' | ' | -29.8 | -64.5 | 55.1 | ||
Iincome/(loss) from operations | ($1,864.20) | ($637.50) | $125.30 | $141.80 | ($353.40) | ($216.80) | $189.10 | $61.30 | ($2,234.60) | ($319.90) | $782.50 | ||
[1] | Amount rounds to zero. |
Schedule_I_CONDENSED_BALANCE_S
Schedule I - CONDENSED BALANCE SHEETS (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Millions, unless otherwise specified | ||||
Assets | ' | ' | ' | ' |
Cash and cash equivalents | $2,771.20 | $1,757.50 | $891.20 | $971.10 |
Restricted cash | 87.5 | 833.6 | ' | ' |
Receivables, net | 619.9 | 580.5 | ' | ' |
Prepayments and other current assets | 237.4 | 150 | ' | ' |
Intercompany receivables | 0 | 0 | ' | ' |
Total current assets | 3,770.30 | 3,493.60 | ' | ' |
Investments in subsidiaries | 0 | 0 | ' | ' |
Restricted cash | 336.8 | 364.6 | ' | ' |
Deferred income taxes | 0 | ' | ' | ' |
Intercompany receivables | 0 | 0 | ' | ' |
Total assets | 24,688.90 | 27,998.10 | ' | ' |
Liabilities and Stockholders’ Equity/(Deficit) | ' | ' | ' | ' |
Accounts payable | 442.7 | 376.2 | ' | ' |
Accrued expenses and other current liabilities | 1,212.30 | 1,098.50 | ' | ' |
Deferred income taxes | 289.2 | 0 | ' | ' |
Intercompany payables | 0 | 0 | ' | ' |
Total current liabilities | 2,530.80 | 2,588.30 | ' | ' |
Accumulated losses of subsidiaries in excess of investment | 0 | 0 | ' | ' |
Deferred credits and other | 667.5 | 823 | ' | ' |
Deferred income taxes ($3.8 attributable to our VIEs in 2013) | 2,476 | 4,334.10 | ' | ' |
Intercompany payables | 0 | 0 | ' | ' |
Total liabilities | 26,592.70 | 28,329.70 | ' | ' |
Total stockholdes (deficit)/equity | -3,122 | -411.7 | ' | ' |
Total liabilities and stockholders’(deficit)/ equity | 24,688.90 | 27,998.10 | ' | ' |
Parent Company [Member] | ' | ' | ' | ' |
Assets | ' | ' | ' | ' |
Cash and cash equivalents | 113.3 | 7.4 | 3.9 | 136 |
Restricted cash | 30.5 | 0 | ' | ' |
Receivables, net | 0.1 | 0.1 | ' | ' |
Prepayments and other current assets | 0 | 5 | ' | ' |
Intercompany receivables | 0.8 | 29.6 | ' | ' |
Total current assets | 144.7 | 42.1 | ' | ' |
Investments in subsidiaries | 0 | 0 | ' | ' |
Restricted cash | 20 | 0 | ' | ' |
Deferred charges and other | 1 | 7.5 | ' | ' |
Deferred income taxes | 7.8 | 0 | ' | ' |
Intercompany receivables | 340.5 | 563.1 | ' | ' |
Total assets | 514 | 612.7 | ' | ' |
Liabilities and Stockholders’ Equity/(Deficit) | ' | ' | ' | ' |
Accounts payable | 0.3 | 3.9 | ' | ' |
Accrued expenses and other current liabilities | 3.8 | 3.7 | ' | ' |
Deferred income taxes | 0 | 0 | ' | ' |
Intercompany payables | 5.3 | 15.9 | ' | ' |
Total current liabilities | 9.4 | 23.5 | ' | ' |
Accumulated losses of subsidiaries in excess of investment | 3,582.10 | 925.4 | ' | ' |
Deferred credits and other | 0 | 4.1 | ' | ' |
Deferred income taxes ($3.8 attributable to our VIEs in 2013) | 0 | 0 | ' | ' |
Intercompany payables | 55 | 55 | ' | ' |
Total liabilities | 3,646.50 | 1,008 | ' | ' |
Total stockholdes (deficit)/equity | -3,132.50 | -395.3 | ' | ' |
Total liabilities and stockholders’(deficit)/ equity | $514 | $612.70 | ' | ' |
Schedule_I_Schedule_I_CONDENSE
Schedule I Schedule I - CONDENSED STATEMENT OF COMPREHENSIVE INCOME (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | $2,078.40 | $2,180 | $2,158.20 | $2,143.20 | $2,014.90 | $2,195.80 | $2,163.70 | $2,206.10 | $8,559.70 | $8,580.40 | $8,566.60 |
Operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Write-downs, reserves, and project opening costs, net of recoveries | ' | ' | ' | ' | ' | ' | ' | ' | 104.4 | 99.7 | 73.8 |
Income (Loss) from Equity Method Investments | ' | ' | ' | ' | ' | ' | ' | ' | 17.6 | 17.5 | 7.9 |
Loss on interests in subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Corporate expense | ' | ' | ' | ' | ' | ' | ' | ' | 161.4 | 195 | 152.8 |
Acquisition and integration costs | ' | ' | ' | ' | ' | ' | ' | ' | 81.3 | 6.1 | 4.3 |
Total operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 10,794.30 | 8,900.30 | 7,784.10 |
Loss from operations | -1,864.20 | -637.5 | 125.3 | 141.8 | -353.4 | -216.8 | 189.1 | 61.3 | -2,234.60 | -319.9 | 782.5 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -2,253 | -2,100.30 | -2,121.70 |
Other income, including interest income | ' | ' | ' | ' | ' | ' | ' | ' | 13.8 | 25.5 | 25.3 |
Loss from operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -4,459.50 | -2,258.70 | -1,266 |
Provision for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 1,549.70 | 870.5 | 534.6 |
Net loss | ' | ' | ' | ' | ' | ' | ' | ' | -2,909.80 | -1,388.20 | -731.4 |
Other comprehensive income/(loss), net of income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -38.4 | 37.2 | 111.1 |
Comprehensive loss | ' | ' | ' | ' | ' | ' | ' | ' | -2,986.50 | -1,472 | -615.2 |
Parent Company [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Write-downs, reserves, and project opening costs, net of recoveries | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 15 | 0 |
Income (Loss) from Equity Method Investments | ' | ' | ' | ' | ' | ' | ' | ' | -0.4 | 0 | 0 |
Loss on interests in subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 2,923 | 1,464.30 | 693.4 |
Corporate expense | ' | ' | ' | ' | ' | ' | ' | ' | 16 | 28.2 | 22.7 |
Acquisition and integration costs | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0.1 |
Total operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 2,938.60 | 1,507.50 | 716.2 |
Loss from operations | ' | ' | ' | ' | ' | ' | ' | ' | -2,938.60 | -1,507.50 | -716.2 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 2.3 | -1 | 0 |
Other income, including interest income | ' | ' | ' | ' | ' | ' | ' | ' | 23.1 | 18.3 | 25.5 |
Loss from operations before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -2,913.20 | -1,490.20 | -690.7 |
Provision for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -0.1 | 9.1 | 3.1 |
Net loss | ' | ' | ' | ' | ' | ' | ' | ' | -2,913.30 | -1,481.10 | -687.6 |
Other comprehensive income/(loss), net of income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Comprehensive loss | ' | ' | ' | ' | ' | ' | ' | ' | ($2,913.30) | ($1,481.10) | ($687.60) |
Schedule_I_Schedule_I_CONDENSE1
Schedule I Schedule I - CONDENSED STATEMENT OF CASH FLOWS (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Cash flows from operating activities | ($109.40) | $30.20 | $63 |
Cash flows from investing activities | ' | ' | ' |
Change in restricted cash | 773.9 | -680.5 | -517.7 |
Payments to acquire businesses, net of transaction costs and cash acquired | -19.5 | -37.9 | -19 |
Purchase of additional interests in subsidiaries | 0 | 0 | -75.4 |
Purchase of Linq/Octavius from non-guarantor | 0 | ' | ' |
Proceeds paid for sale of assets | 0 | ' | ' |
Other | -12.5 | -5.5 | -9.9 |
Cash flows used in investing activities | 64.8 | -1,224.30 | -1,006.30 |
Cash flows from financing activities | ' | ' | ' |
Issuance of common stock, net of fees | 217.2 | 17.4 | 0 |
Other | -14.7 | -13.5 | -22 |
Transfer to affiliates | 0 | 0 | 0 |
Cash flows from financing activities | 651.1 | 1,472.60 | 811.5 |
Net increase/(decrease) in cash and cash equivalents | 1,009 | 857.6 | -82.4 |
Cash and cash equivalents, beginning of period | 1,757.50 | 891.2 | 971.1 |
Cash and cash equivalents, end of period | 2,771.20 | 1,757.50 | 891.2 |
CEC (Parent Guarantor) [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Cash flows from operating activities | 407.9 | 258.6 | 182.9 |
Cash flows from investing activities | ' | ' | ' |
Change in restricted cash | -50.5 | 0 | 0 |
Payments to acquire businesses, net of transaction costs and cash acquired | 0 | 0 | -123.5 |
Purchase of additional interests in subsidiaries | -581.2 | -232.5 | 0 |
Purchase of Linq/Octavius from non-guarantor | -80.7 | 0 | 0 |
Proceeds paid for sale of assets | -29 | 0 | 0 |
Other | -0.4 | -0.8 | 0 |
Cash flows used in investing activities | -741.8 | -233.3 | -123.5 |
Cash flows from financing activities | ' | ' | ' |
Issuance of common stock, net of fees | 217.2 | 17.4 | 0 |
Other | 0 | 0 | -1.7 |
Transfer to affiliates | 222.6 | -39.2 | -189.8 |
Cash flows from financing activities | 439.8 | -21.8 | -191.5 |
Net increase/(decrease) in cash and cash equivalents | 105.9 | 3.5 | -132.1 |
Cash and cash equivalents, beginning of period | 7.4 | 3.9 | 136 |
Cash and cash equivalents, end of period | $113.30 | $7.40 | $3.90 |
Schedule_II_Details
Schedule II (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Allowance for doubtful accounts, Current [Member] | ' | ' | ' | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | ' | ' | ' | |||
Balance at Beginning of Period | $201.70 | $202.20 | $216.20 | |||
Charged to Costs and Expenses | 29.1 | 66.7 | 49.3 | |||
Charged to Other Accounts | 0 | 0 | 0 | |||
Deductions from Reserves | -68.8 | [1] | -67.2 | [1] | -63.3 | [1] |
Balance at End of Period | 162 | 201.7 | 202.2 | |||
Allowance for doubtful accounts, Long-term [Member] | ' | ' | ' | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | ' | ' | ' | |||
Balance at Beginning of Period | 0.1 | 0.3 | 0.3 | |||
Charged to Costs and Expenses | 0 | 0 | 0 | |||
Charged to Other Accounts | 0 | 0 | 0 | |||
Deductions from Reserves | 0 | -0.2 | 0 | |||
Balance at End of Period | 0.1 | 0.1 | 0.3 | |||
Liability to sellers under acquisition agreement [Member] | ' | ' | ' | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | ' | ' | ' | |||
Balance at Beginning of Period | 1 | [2] | 1.1 | [2] | 1.2 | [2] |
Charged to Costs and Expenses | 0 | [2] | 0 | [2] | 0 | [2] |
Charged to Other Accounts | 0 | [2] | 0 | [2] | 0 | [2] |
Deductions from Reserves | -0.1 | [2] | -0.1 | [2] | -0.1 | [2] |
Balance at End of Period | $0.90 | [2] | $1 | [2] | $1.10 | [2] |
[1] | Uncollectible accounts written off, net of amounts recovered. | |||||
[2] | We acquired Players International, Inc., ("Players") in March 2000. In 1995, Players acquired a hotel and land adjacent to its riverboat gaming facility in Lake Charles, Louisiana, for cash plus future payments to the seller based on the number of passengers boarding the riverboat casinos during a defined term. In accordance with the guidance provided by ASC Topic 805 regarding the recognition of liabilities assumed in a business combination accounted for as a purchase, Players estimated the net present value of the future payments to be made to the sellers and recorded that amount as a component of the total consideration paid to acquire these assets. Our recording of this liability in connection with the purchase price allocation process following the Players acquisition was originally reported in 2000. Our casino operations in Lake Charles sustained significant damage in late third quarter 2005 as a result of Hurricane Rita. As a result of hurricane damage, and upon the Company’s subsequent decision to scale back operations in Lake Charles and ultimately sell the property, the current and long-term portions of this obligation were written down in fourth quarter 2005; the credit was included in Discontinued operations on our Consolidated Statements of Comprehensive Loss. We sold Harrah’s Lake Charles in fourth quarter 2006. Prior to the sale, the current and long-term portions of this obligation were included in Liabilities held for sale on our Consolidated Balance Sheets. The remaining long-term portion of this liability is included in Deferred credits and other on our Consolidated Balance Sheets; the current portion of this obligation is included in Accrued expenses on our Consolidated Balance Sheets. |