Subsequent Events Subsequent Events (Notes)

6 Months Ended

Jun. 30, 2016

Subsequent Events [Abstract]

Subsequent Events [Text Block]

Subsequent Events

Sale of CIE’s SMG Business

On July 30, 2016, CEC and CAC entered into an agreement regarding CEC’s consent to the sale of CIE’s social and mobile games business (the “SMG Business”) and CIE entered into a stock purchase agreement to sell its SMG Business for cash consideration of $4.4 billion, subject to customary purchase price adjustments. The assets to be sold are limited to the SMG Business and will not include CIE’s interest in the WSOP brand and other WSOP-related intellectual property or CIE’s online real money gaming business.

Second Lien Note RSA

On July 31, 2016, CEC and the Debtors, and holders (the “Consenting Creditors”) of a significant amount of claims in respect of CEOC’s 12.75% Second-Priority Senior Secured Notes due 2018 (the “12.75% Notes”), 10.00% Second-Priority Senior Secured Notes due 2018 (the “10.00% Notes”) and 10.00% Second-Priority Senior Secured Notes due 2015 (collectively, the “Second Lien Notes”) entered into an agreement (the “Second Lien Note RSA”) with respect to the restructuring of CEOC’s indebtedness. These Consenting Creditors hold approximately 37% of the Second Lien Notes. The Second Lien Note RSA will become effective upon the signing of the RSA by creditors holding at least 50.1% of the aggregate outstanding amount of CEOC’s obligations under (a) the indenture governing the 10.00% Notes and (b) the indenture governing the 12.75% Notes. See Note 1.