Business Combination (Tables)

12 Months Ended

Dec. 31, 2017

The following table summarizes the assets acquired and liabilities assumed. The intangible assets subject to amortization are being amortized on a straight-line basis over their estimated useful lives as of the acquisition date.



(In millions)	Fair Value			Weighted-Average Useful Life (years)
Assets acquired:
Cash and cash equivalents	$	1,239
Receivables, net	266
Other current assets	200
Property and equipment	9,018			35.0
Intangible assets other than goodwill
Trade names and trademarks ⁽¹⁾	664
Gaming rights ⁽¹⁾	207
Total Rewards ⁽¹⁾	253
Customer relationships	137			14.8
Other non-current assets	180
Total assets	12,164

Liabilities assumed:
Current liabilities	(765		)
Long-term debt	(1,607		)
Financing obligations	(8,385		)
Deferred income taxes	(568		)
Deferred credits and other liabilities	(361		)
Total liabilities	(11,686		)
Noncontrolling interest	41
Net identifiable assets acquired	519
Goodwill	2,207
Total OpCo equity value	$	2,726

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⁽¹⁾	Indefinite-lived intangible assets.

Pro Forma Information



	(Unaudited)
	Years Ended December 31,
(In millions, except per share data)	2017		2016
Net revenues	$	8,307	$	8,514
Net income/(loss)	6,399		(2,586		)
Net income/(loss) attributable to Caesars	6,399		(2,566		)
Basic earnings/(loss) per share	22.96		(9.20		)
Diluted earnings/(loss) per share	14.87		(9.20		)

OpCo [Member]

Business Acquisition [Line Items]

Summary of Merger

Consideration transferred was composed of the following:



(In millions)
Cash	$	700
CEC common stock ⁽¹⁾	1,774
Total cash and stock consideration	2,474
Settlement of pre-existing relationships	252
Total OpCo equity value	$	2,726

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⁽¹⁾	Approximately 139 million shares of CEC common stock issued at the Effective Date closing stock price of $12.80.

Caesars Acquisition Company [Member]

Business Acquisition [Line Items]

Summary of Merger

The following table summarizes the assets acquired, liabilities assumed and CEC’s noncontrolling interest in CGP and excludes CGP’s results, which were consolidated with CEC as a VIE prior to the Effective Date.

Summary of Merger as of October 6, 2017

(In millions)	Total Value
Assets acquired	$	152
Liabilities assumed	(96		)
Acquisition of noncontrolling interest in CGP from CAC	1,751
Net book value	$	1,807