XML 45 R42.htm IDEA: XBRL DOCUMENT v2.4.0.8
Debt (Tables)
 12 Months Ended
Dec. 31, 2013
Debt Disclosure [Abstract]  
Outstanding Debt
 
Final
Maturity
 
Rate(s)
 
Face Value
 
Book Value
 
Book Value
(Dollars in millions)
 
December 31, 2013
 
December 31, 2012

CEOC Debt
 
 
 
 
 
 
 
 
 
Credit Facilities (1)
 
 
 
 
 
 
 
 
 
Term Loans B1 - B3
2015
 
3.24%
 
$
29.0

 
$
29.0

 
$
1,025.8

Term Loan B4
2016
 
9.50%
 
959.8

 
948.1

 
954.5

Term Loan B5
2018
 
4.49%
 
991.9

 
989.3

 
1,218.8

Term Loan B6 (5)
2018
 
5.49%
 
2,431.9

 
2,399.9

 
2,812.6

Secured Debt
 
 
 
 
 
 
 
 
 
Senior Secured Notes (1)
2017
 
11.25%
 
2,095.0

 
2,066.4

 
2,060.2

Senior Secured Notes (1)
2020
 
8.50%
 
1,250.0

 
1,250.0

 
1,250.0

Senior Secured Notes (1)
2020
 
9.00%
 
3,000.0

 
2,954.5

 
1,486.9

Second-Priority Senior Secured Notes (1)
2018
 
12.75%
 
750.0

 
743.9

 
742.9

Second-Priority Senior Secured Notes (1)
2018
 
10.00%
 
4,528.1

 
2,433.2

 
2,260.2

Second-Priority Senior Secured Notes (1)
2015
 
10.00%
 
214.8

 
187.7

 
173.7

Chester Downs Senior Secured Notes
2020
 
9.25%
 
330.0

 
330.0

 
330.0

Bill's Gamblin' Hall & Saloon ("Bill's") Credit Facility (6)
2019
 
11.00%
 
185.0

 
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)
 
 
 
 
 
 
 
 
 
5.375%
2013
 
—
 
—

 
—

 
116.6

7.0%
2013
 
—
 
—

 
—

 
0.6

5.625%
2015
 
5.625%
 
364.4

 
328.3

 
306.7

6.5%
2016
 
6.50%
 
248.7

 
212.6

 
200.9

5.75%
2017
 
5.75%
 
147.9

 
115.0

 
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)
 
 
 
 
18,141.7

 
15,782.9

 
15,810.5

 
 
 
 
 
 
 
 
 
 
 
Final
Maturity
 
Rate(s)
 
Face Value
 
Book Value
 
Book Value
(Dollars in millions)
 
December 31, 2013
 
December 31, 2012

CERP Debt
 
 
 
 
 
 
 
 
 
Secured Debt
 
 
 
 
 
 
 
 
 
CERP Senior Secured Loan (3)
2020
 
7.00%
 
2,500.0

 
2,449.7

 
—

CERP First Lien Notes (3)
2020
 
8.00%
 
1,000.0

 
993.7

 
—

CERP Second Lien Notes (3)
2021
 
11.00%
 
1,150.0

 
1,140.8

 
—

CMBS Financing

 
—
 
—

 
—

 
4,660.5

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
 
 
 
 
4,676.7

 
4,610.9

 
5,115.6

 
 
 
 
 
 
 
 
 
 
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%
 
225.0

 
214.5

 
—

Capitalized Lease Obligations
to 2017
 
various
 
0.1

 
0.1

 
0.1

Other Unsecured Borrowings
 
 
 
 
 
 
 
 
 
Other
2014 - 2018
 
various
 
51.0

 
51.0

 
47.7

Total CGP LLC Debt
 
 
 
 
770.9

 
721.7

 
486.0

 
 
 
 
 
 
 
 
 
 
Total Debt
 
 
 
 
23,589.3

 
21,115.5

 
21,412.1

Current Portion of Long-Term Debt
 
 
 
 
(197.1
)
 
(197.1
)
 
(879.9
)
Long-Term Debt
 
 
 
 
$
23,392.2

 
$
20,918.4

 
$
20,532.2

____________________
(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

 
$
1,108.5

 
$
2,084.0

 
$
2,715.5

 
$
8,447.1

 
$
4,819.8

 
$
19,288.3

Less: CEOC to affiliate (1)
—

 
(427.3
)
 
(324.5
)
 
(390.9
)
 
(3.9
)
 
—

 
(1,146.6
)
CERP
35.9

 
33.9

 
31.8

 
25.0

 
25.1

 
4,525.0

 
4,676.7

CGP LLC
47.8

 
497.1

 
2.2

 
2.2

 
5.4

 
216.2

 
770.9

Total
$
197.1

 
$
1,212.2

 
$
1,793.5

 
$
2,351.8

 
$
8,473.7

 
$
9,561.0

 
$
23,589.3
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.