Caesars Entertainment Corp.

Caesars Entertainment Corp.

Caesars Entertainment Corp.

Overview
Date Founded

1989

Headquarters

One Caesars Palace Drive, Las Vegas, NV, 89109, USA

Type of Company

Public

Employees (Worldwide)

66K

Industries

Casinos & Gaming

Company Description

Caesars Entertainment Corp Since its beginning in Reno, Nevada more than 70 years ago, Caesars has grown through development of new resorts, expansions and acquisitions, and now owns or manages casino resorts on four continents The company's resorts operate primarily under the Harrah's, Caesars and Horseshoe brand names; Caesars also owns the London Clubs International family of casinos and the World Series of Poker. Caesars Entertainment is focused on building loyalty and value with its customers through a unique combination of great service, excellent products, unsurpassed distribution, operational excellence and technology leadership. We concentrate on building loyalty and value for our customers, employees, business partners, and communities by being the most service-oriented, technology-driven, geographically-diversified company in gaming. At Caesars Entertainment, over 70,000 employees each make a unique contribution to your experiences, and to our ultimate success. From nurturing a sense of team with co-workers, to improving the quality of life in their communities, Caesars sets the standard of excellence in the gaming industry with employees who are devoted to delivering truly great service. Our employees are critical to our success

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Executives & Employees

Chief Executive Officer & President

Chief Executive Officer

Chief Financial Officer

Executive Vice President, General Counsel & Chief Legal, Risk & Security Officer

Senior Vice President, Deputy General Counsel & Corporate Secretary

Executive Vice President & Chief Marketing Officer

Chief Development Officer

Executive Vice President & Chief Information Officer

Chief Restructuring Officer

Senior Vice President & Chief Accounting Officer

Board of Directors

Treasurer at Disney Worldwide Services, Inc.

Oversees Director at University of Pennsylvania - Law School

Chief Executive Officer & President at Caesars Entertainment Corp.

Director, President & Chief Executive Officer at Icahn Enterprises LP

Senior Lecturer of Business Administration at Harvard University - Harvard Business School

Chief Executive Officer & President at Global Net Lease, Inc.

President, Meals at The Pillsbury Co. LLC

Portfolio Manager at Icahn Capital LP

Former President, Chief Executive Officer & Director at Jackpot Enterprises, Inc.

Former Senior Vice President & Global Chief Information Officer at The Estée Lauder Companies, Inc.

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Owners & Shareholders
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CCA is a multi-strategy, credit-focused, global value-oriented asset management firm that invests across a variety of asset classes, including bank debt, high yield, distressed and special situation securities, securitized assets, equities (including preferred and common stock), convertible arbitrage and risk arbitrage. They emphasizes bottom-up fundamental credit analysis and looks across the corporate capital structure, investing opportunistically across senior secured leveraged loans, high yield bonds, convertibles, equities and credit derivatives. Additionally, the firm looks beyond the traditional corporate markets to the structured finance space, where they invests in mortgage securities/derivatives, aircraft lease securitizations, CDOs/CLOs, distressed structured municipal bonds and other areas. Positions in other asset classes, such as foreign currencies and commodities, may be employed to a lesser extent as appropriate. Allocations across these asset classes will shift over time in response to evolving value propositions and risk/reward profiles.

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PIMCO combines top-down macroeconomic forecasting with rigorous bottom-up credit analysis in their investment process. Their cyclical and secular economic forums drive the top-down element of their investment process which begins with an annual secular forum in which investment professionals from all their offices convene. Industry experts give presentations on various global economic and financial topics, followed by discussions among PIMCO's investment professionals regarding the outlook for the global economy and interest rates over the next 3 to 5 years. Then, the investment professionals collectively determine a bullish, neutral or bearish outlook. PIMCO's bottom-up research on individual securities considers such factors as finances, credit quality, call risks and structures. In addition, the firm is a signatory to the United Nations-backed Principles for Responsible Investment (UNPRI). The UNPRI recognizes that environmental, social and corporate governance (ESG) issues can affect the performance of investment portfolios, and must be given appropriate consideration by investors. Accordingly, PIMCO has formally incorporated ESG factors into their investment process when evaluating the long-term sustainability of a company.

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HG Vora Capital Management is an event-driven and value-oriented investment firm. The firm seeks to generate attractive risk-adjusted absolute returns by opportunistically investing in actively traded debt and equity instruments on a long and short basis. They often invest in companies with overleveraged balance sheets, near term operational challenges or those undergoing some form of strategic change. HG Vora's core sectors of interest include gaming, lodging, leisure, real estate, retail and consumer, specialty finance, travel and other related sectors. The firm conducts fundamental analysis to identify mispriced securities across the capital structure.

Recent Transactions
Details Hidden

Caesars Entertainment Corp. purchases DraftKings, Inc.

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Caesars Entertainment Corp. purchases Centaur Holdings LLC from Clairvest Group, Inc. (Private Equity)

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Caesars Entertainment Corp. purchases Caesars Acquisition Co.

Insider Transactions
Details Hidden
Transaction Advisors
Investment Advisor

Advised onCaesars Entertainment Corp. purchases Caesars Acquisition Co.

Auditor

Advised onCaesars Entertainment Corp. issued Common Stock

Underwriter

Advised onCaesars Entertainment Corp. issued Common Stock

Legal Advisor

Advised onCaesars Entertainment Corp. purchases Caesars Acquisition Co.

Legal Advisor

Advised onCaesars Entertainment Corp. purchases Caesars Acquisition Co.

Legal Advisor

Advised onCaesars Entertainment Corp. purchases Caesars Acquisition Co.

Advisors & Consultants
Legal Advisor

Partner at Latham & Watkins LLP

Legal Advisor

Partner at Foley & Lardner LLP

Legal Advisor

Partner at Paul, Weiss, Rifkind, Wharton & Garrison LLP

Clients

Wyndham Worldwide is one of the world's largest hospitality companies across six continents. We offer individual consumers and business customers a broad array of hospitality products and services as well as various accommodation alternatives and price ranges through our premier portfolio of world-renowned brands.

Norwegian Cruise Line Holdings Ltd. operates as a holding company. It is a global cruise line operator, which offers cruise experiences for travelers with itineraries in North America, Mediterranean, Baltic, Central America, Bermuda and Caribbean. It also offers an entirely inter-island itinerary in Hawaii. The company was founded in 2010 and is headquartered in Miami, FL.

International Game Technology Plc engages in the designing, manufacturing, and marketing of electronic gaming equipment, software, and network systems. It operates through the following segments: North America Gaming and Interactive; North America Lottery, International, Italy, and Other. The North America Gaming and Interactive segment develops and delivers leading games, systems and solutions for land-based casinos, DoubleU Games DoubleDown casino free-to-play social casino app, and interactive for-wager online play. The North America Lottery segment is involved in the development and delivery of lottery solutions, performing research and development for all lottery-related products globally. The International segment specializes in end-to-end solutions and services across all channels to regulated clients in Commercial Gaming and Lottery sectors such as strategic development and operation management. The Italy segment is responsible for lottery and machine gaming concessions, as well as ports betting, interactive gaming, and commercial services. The company was founded on July 11, 2014 and is headquartered in London, the United Kingdom.

Key Stats and Financials As of 2018
Market Capitalization
$6.16B
Total Enterprise Value
$23.2B
Earnings Per Share
$0.41
Revenue
$8.39B
Net Profit
$303M
EBITDA
$1.96B
EBITDAMargin
23.38%
Total Debt
$19B
Total Equity
$3.34B
Enterprise Value Sales
2.77x
Enterprise Value EBITDAOperating
11.84x
TEVNet Income
76.68x
Debt TEV
0.82x
Three Year Compounded Annual Growth Rate Of Revenue
21.71%
Five Year Compounded Annual Growth Rate Of Revenue
-0.4%
Investors
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The Carlyle Group is a global, multi-product, markets-focused investment platform seeks investment opportunities in the US. They manage three groups of funds structured credit, hedge funds and carry & financing funds. Structured credit funds invest primarily in performing senior secured bank loans through structured vehicles and other investment products. Hedge fund strategies focus on long/short credit, commodities trading, emerging market equities and macroeconomic strategies. Carry & financing funds specialize in three strategies middle-market direct lending, energy credit and distressed & special situations.

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Apollo Global Private Equity is a contrarian, value-oriented investor with significant expertise in distressed opportunities. The firm focuses on opportunities where they can serve as a catalyst for business-transforming events and create significant value. They invest primarily in the following sectors: (1) chemicals (2) commodities (3) consumer and retail (4) distribution and transportation (5) financial services and business services (6) manufacturing and industrial (7) media, cable and leisure (8) packaging and materials and (9) satellite and wireless.Apollo Global Private Equity seeks to capitalize on market dislocations through a traditional and distressed buyout approach. They seek to make attractive investments by buying the debt of quality businesses, converting that debt to equity, creating value through active participation with management and ultimately monetizing the investment. The firm's private equity investment activities are executed through several strategies including traditional buyouts, distressed buyouts and debt investments and corporate partner buyouts.Historically, traditional buyouts have comprised the majority of the firm's investments. Apollo Global Private Equity generally targets investments in companies with entrepreneurial management teams that are comfortable operating in a leveraged environment. They also pursue acquisitions in which they believe a non-core business owned by a large corporation can function more effectively if structured as an independent entity. Their LBOS generally involve consolidation situations through merger or follow-on acquisitions, carve-outs from larger organizations seeking to shed non-core assets, situations requiring structured ownership to meet a seller's financial goals or situations in which the business plan involves a substantial departure from past practices.For their distressed buyout and debt investments, Apollo Global Private Equity targets assets with high-quality operating businesses but low-quality balance sheets. The distressed securities they purchase include bank debt, public high-yield debt and privately-held instruments, often with significant downside protection in the form of a senior position in the capital structure.Though corporate partner buyouts, the firm seeks to capitalize on investment opportunities during environments in which purchase prices for control of companies are at high multiplies of earnings. Apollo Global Private Equity focuses on companies that need a financial partner to consummate acquisitions, expand product lines, buy back stock or pay down debt. In these investments, the firm does not seek control but instead makes significant investments that typically allow them to obtain control rights similar to those that they require in traditional buyouts.In addition to traditional, distressed and corporate partner buyout activities, Apollo Global Private Equity also deploys the capital of their private equity funds in other types of investments, such as the creation of new companies. The firm seeks to capitalize on market opportunities they have identified, particularly in asset-intensive industries that are in distress. In these types of situations, Apollo Global Private Equity is able to establish new entities that can acquire distressed assets at what the firm believes are attractive valuations without the burden of managing an existing portfolio of legacy assets.

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SPB Partners focuses on investments in companies located primarily in the Southwestern region of the US. The firm tends to invest in the following sectors: (1) construction services (2) consumer and recreational products (3) financial services (4) industrial and business services (5) manufacturing and distribution and (6) travel and hospitality. SPB Partners looks for companies with exceptional management teams, revenues greater than $10 million, EBITDA greater than $2 million and histories of profitable operations with margins greater than 10%. The firm targets companies valued at $10 million to $100 million. They seek to acquire controlling stakes in their portfolio companies ranging from 51% to 80%. SPB Partners participates in acquisitions, growth financings, LBOs, MBOs, recapitalizations and shareholder liquidity transactions.

Suppliers
Agilysys, Inc. Retail: Appliances & Electronics | Cincinnati, OH

Agilysys, Inc. is a technology company. It offers innovative software for point-of-sale, payment gateway, reservation and table management, guest offers management, property management, inventory and procurement, analytics, document management, and mobile and wireless solutions and services to the hospitality industry. It also serves the gaming for both corporate and tribal; hotels resort and cruise; foodservice management; and restaurants, universities, stadia, and healthcare sectors. The company was founded in 1963 and is headquartered in Alpharetta, GA.

Intellicheck, Inc. Computer Software | MELVILLE, NY

Intellicheck, Inc. engages in the development, integration, and marketing of identity authentication systems for various applications including mobile, handheld and integrated systems for the government, military and commercial markets. Its products include ID-Check, Retail ID, and Age ID, a patented technology that instantly reads, analyzes, and verifies encoded data in magnetic stripes and barcodes on government-issue IDs from U.S. and Canadian jurisdictions. The company was founded in 1994 and is headquartered in Melville, NY.

Spackman Entertainment Group Ltd. Holding Companies | Seoul, SL

Spackman Entertainment Group Ltd. operates as an entertainment holding company engages in the independent development, production, presentation and financing of theatrical motion pictures in Korea. It also invests into entertainment companies and film funds that can financially and strategically complement. The company was founded on January 1, 2014 and is headquartered in Seoul, South Korea.

Competitors
Marriott International, Inc. Hotels, Resorts, and Cruiselines - Bethesda, Maryland

Marriott International, Inc. is a lodging company, which engages in the operation and franchise of hotel, residential, and timeshare properties. It operates through the following business segments: North American Full-Service; North American Limited-Service; Asia Pacific; and Other International. The North American Full-Service segment includes luxury and premium brands located in the U.S. and Canada. The North American Limited-Service segment comprises select brands located in the U.S. and Canada. The Asia Pacific segment focuses in all brand tiers in Asia Pacific region. The company was founded by J. Wiliard Marriot and Alice Sheets Marriott in 1927 and is headquartered in Bethesda, MD.

Genting Berhad Hotels, Resorts, and Cruiselines - Kuala Lumpur, WP

Genting Bhd. is an investment holding and management company, which engages in the leisure, hospitality, gambling, plantation, and property activities. It operates through the following segments: Leisure and Hospitality, Plantation, Power, Property, and Oil and Gas. The Leisure and Hospitality segment includes gaming, hotel, entertainment and amusement, tours and travel related services, development and operation of integrated resorts, and other support services. The Plantation segment focuses on the oil palm plantations, palm oil milling, and related activities. The Power segment generates and supplies electric power. The Property segment involves in the property development activities. The Oil and Gas segment explores, develops, and produces oil and gas. The company was founded by Goh Tong Lim in 1965 and is headquartered in Kuala Lumpur, Malaysia.

MGM Resorts International Casinos & Gaming - Las Vegas, NV

MGM Resorts International is a holding company, which engages in the ownership and operations of casino resorts. The firm's casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities. It operates through the following business segments: Las Vegas Strip Resorts, Regional Operations and MGM China. The Las Vegas Strip Resorts segment consists of the following casino resorts: Bellagio, MGM Grand Las Vegas, Mandalay Bay, The Mirage, Luxor, New York-New, Excalibur, Park MGM, and Circus Las Vegas. The Regional Operations segment consists of the following casino resorts: MGM Grand Detroit in Detroit, Michigan; Beau Rivage in Biloxi, Mississippi; Gold Strike Tunica in Tunica, Mississippi; Borgata in Atlantic City, New Jersey; MGM National Harbor in Prince George's County, Maryland; and MGM Springfield in Springfield, Massachusetts. The MGM China segment consists of MGM Macau and MGM Cotai. The company was founded by Kerkor Kerkorian on January 29, 1986 and is headquartered in Las Vegas, NV.

Awards & Honors
Rank #534
2016
Fortune Magazine - Fortune 1000 Companies
Sponsored by Fortune Magazine
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