Stock-Based Compensation (Notes)

3 Months Ended

Mar. 31, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Caesars Entertainment Stock-Based Compensation

We maintain long-term incentive plans for management, other personnel, and key service providers. The plans allow for granting stock-based compensation awards, based on CEC common stock (NASDAQ symbol “CZR”), including time-based and performance-based stock options, restricted stock units, restricted stock awards, stock grants, or a combination of awards.

Composition of Stock-Based Compensation Expense

	Three Months Ended March 31,
(In millions)	2016		2015
Corporate expense	$	8	$	14
Property, general, administrative, and other	2		1
Total stock-based compensation expense	$	10	$	15

Stock Option Activity

	March 31, 2016			December 31, 2015
	Options	Wtd Avg Exercise Price		Options	Wtd Avg Exercise Price
Outstanding at end of period	10,424,431	$	11.75	10,638,219	$	12.90

Restricted Stock Unit Activity

	March 31, 2016			December 31, 2015
	Units	Wtd Avg Fair Value		Units	Wtd Avg Fair Value
Outstanding at end of period	10,127,034	$	9.32	6,329,435	$	12.06
Granted during 2016	5,052,202	6.27		N/A	N/A

CIE Stock-Based Compensation

CIE grants stock-based compensation awards in CIE common stock to its employees, directors, service providers and consultants in accordance with the Caesars Interactive Entertainment, Inc. Amended and Restated Management Equity Incentive Plan which is intended to promote the interests of CIE and its shareholders by providing key employees, directors, service providers and consultants with an incentive to encourage their continued employment or service and improve the growth and profitability of CIE. CIE has granted stock options and warrants, restricted shares, and restricted stock units to its employees and service providers.

These programs are classified as liability-based instruments and are re-measured at their fair value at each reporting date.

Stock-based compensation expense attributable to CIE is recorded in property, general, administrative, and other expenses in the statements of operations and totaled $28 million and $13 million for the three months ended March 31, 2016 and 2015, respectively. As of the March 31, 2016 and December 31, 2015, the liability related to CIE’s stock-based compensation awards was $124 million and $107 million, respectively. The current portion is recorded in accrued expenses and other current liabilities on our balance sheets, while the long-term portion is recorded in deferred credits and other liabilities.

Stock Option Activity

	March 31, 2016			December 31, 2015
	Options	Wtd Avg Exercise Price		Options	Wtd Avg Exercise Price
Outstanding at end of period	20,899	$	9,805.35	21,057	$	9,584.64
Granted during 2016	263	17,370.00		N/A	N/A

Restricted Stock Unit Activity

	March 31, 2016			December 31, 2015
	Units	Wtd Avg Fair Value		Units	Wtd Avg Fair Value
Outstanding at end of period	4,418	$	7,803.53	4,539	$	7,827.24
Granted during 2016	58	15,740.00		N/A	N/A