Stock-Based Compensation (Notes)

3 Months Ended

Mar. 31, 2018

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

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)	2018		2017
Corporate expense	$	13	$	8
Property, general, administrative, and other	5		1
Total stock-based compensation expense ⁽¹⁾	$	18	$	9

____________________


⁽¹⁾	As a result of the consolidation of CEOC LLC beginning on the Effective Date, $11 million of stock-based compensation expense was recorded for three months ended March 31, 2018 as compared to the three months ended March 31, 2017 which includes $1 million due to the CAC Merger.

Outstanding at End of Period

	March 31, 2018			December 31, 2017
	Quantity ⁽¹⁾	Wtd Avg ⁽²⁾		Quantity	Wtd Avg ⁽²⁾
Stock options ⁽³⁾	8,820,888	$	10.44	9,227,890	$	10.36
Restricted stock units ⁽⁴⁾	14,121,592	12.04		17,274,659	11.22

____________________


⁽¹⁾	Granted 114,136 restricted stock units related to CEC common stock during the three months ended March 31, 2018. No stock options granted during the three months ended March 31, 2018.


⁽²⁾	Represents weighted average exercise price for stock options and weighted average fair value for restricted stock units.


⁽³⁾	During the three months ended March 31, 2018, 378,016 stock options were exercised.


⁽⁴⁾	During the three months ended March 31, 2018, 3,042,607 restricted stock units vested.