Stockholders' Equity and Loss Per Share (Notes)

3 Months Ended

Mar. 31, 2014

Equity [Abstract]

Stockholders' Equity, Noncontrolling Interests and Variable Interest Entities

Common Stock

In March 2012, the Company filed a registration statement with the SEC, to sell shares of common stock, up to a maximum aggregate offering price of $500.0 million. In April 2012, the Company entered into an equity distribution agreement with Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC whereby the Company may issue and sell up to 10.0 million shares of the Company's common stock from time to time. There were no shares issued during the three months endedMarch 31, 2014 and 2013. As of March 31, 2014, a total of 1,070,493 shares had been issued for total proceeds of $15.6 million.

Pursuant to an underwriting agreement entered into on March 27, 2014, between Caesars and Citigroup Global Markets Inc., Caesars sold 7.0 million shares of the Company's common stock, at a price of $19.40 per share for total proceeds of $135.8 million (before expenses). The offering closed on April 2, 2014.

Noncontrolling Interests

In February 2014, CGP LLC's joint venture, CR Baltimore Holdings ("CRBH"), sold a portion of its interest in CBAC Gaming, LLC, the entity which owns a majority of the interests in the Horseshoe Baltimore joint venture to Caves Valley Partners, an existing joint venture partner. CGP LLC received $12.8 million of the proceeds from the sale. The sale reduced CRBH's ownership from 51.8% to 41.4%.

Earnings/(Loss) Per Share

Basic loss per share from continuing operations and discontinued operations is calculated by dividing loss from continuing operations and loss from discontinued operations, respectively, net of income taxes, by the weighted-average number of common shares outstanding for each period. Because the Company generated net losses for the three months ended March 31, 2014 and 2013, the weighted-average basic shares outstanding was used in calculating diluted loss per share from continuing operations, and diluted loss per share from discontinued operations, as using diluted shares would be anti-dilutive to loss per share.

The following table shows the number of shares which were excluded from the computation of diluted loss per share as they were anti-dilutive:

	Three Months Ended March 31,
(In millions)	2014	2013
Stock options	4.5	2.4
Restricted stock units	1.4	—
Warrants	0.4	0.4
Total anti-dilutive potential common shares	6.3	2.8

Reclassifications out of Accumulated Other Comprehensive Loss

We reclassified immaterial amounts from AOCL into operating expense during the three months endedMarch 31, 2014. During the three months ended March 31, 2013, we reclassified $4.1 million from AOCL to expense within write-downs, reserves, and project opening costs, net of recoveries and $2.2 million from AOCL to loss/(income) from discontinued operations. In addition, we reclassified $2.5 million from AOCL as an increase to interest expense.