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Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2018

Segment Reporting [Abstract]

Condensed Statements of Operations - By Segment

Condensed Statements of Operations - By Segment

	Three Months Ended September 30, 2018
(In millions)	Las Vegas				Other U.S.				All Other				Elimination				Caesars
Net revenues	$	910			$	1,125			$	152			$	(2	)		$	2,185
Depreciation and amortization	149				129				17				—				295
Income/(loss) from operations	141				172				(81		)		—				232
Interest expense	(87		)		(137		)		(117		)		—				(341		)
Restructuring and support expenses and other ⁽¹⁾	4				—				105				—				109
Income tax benefit ⁽²⁾	—				—				111				—				111



	Three Months Ended September 30, 2017
(In millions)	Las Vegas				Other U.S.				All Other				Elimination				Caesars
Net revenues	$	687			$	284			$	23			$	(1	)		$	993
Depreciation and amortization	124				24				2				—				150
Income/(loss) from operations	107				47				(70		)		—				84
Interest expense	—				(3		)		(117		)		—				(120		)
Restructuring and support expenses and other ⁽¹⁾	—				20				(468		)		—				(448		)
Income tax benefit ⁽²⁾	—				—				45				—				45



	Nine Months Ended September 30, 2018
(In millions)	Las Vegas				Other U.S.				All Other				Elimination				Caesars
Net revenues	$	2,804			$	3,033			$	446			$	(7	)		$	6,276
Depreciation and amortization	423				371				49				—				843
Income/(loss) from operations	535				389				(285		)		—				639
Interest expense	(245		)		(414		)		(346		)		—				(1,005		)
Restructuring and support expenses and other ⁽¹⁾	4				2				332				—				338
Income tax benefit ⁽²⁾	—				—				134				—				134



	Nine Months Ended September 30, 2017
(In millions)	Las Vegas				Other U.S.				All Other				Elimination				Caesars
Net revenues	$	2,042			$	870			$	57			$	(2	)		$	2,967
Depreciation and amortization	277				66				5				—				348
Income/(loss) from operations	415				123				(155		)		—				383
Interest expense	(8		)		(17		)		(384		)		—				(409		)
Restructuring and support expenses and other ⁽¹⁾	(3		)		20				(2,336		)		—				(2,319		)
Income tax provision ⁽²⁾	—				—				(34		)		—				(34		)

Adjusted EBITDA - By Segment



	Three Months Ended September 30, 2018
(In millions)	Las Vegas				Other U.S.				All Other				Elimination				Caesars
Net income attributable to Caesars	$	58			$	35			$	17			$	—			$	110
Net income attributable to noncontrolling interests	—				—				1				—				1
Income tax benefit ⁽¹⁾	—				—				(111		)		—				(111		)
Restructuring and support expenses and other ⁽²⁾	(4		)		—				(105		)		—				(109		)
Interest expense	87				137				117				—				341
Depreciation and amortization	149				129				17				—				295
Other operating costs ⁽³⁾	13				6				11				(1		)		29
Stock-based compensation expense	2				2				13				—				17
Other items ⁽⁴⁾	2				1				23				1				27
Adjusted EBITDA	$	307			$	310			$	(17	)		$	—			$	600



	Three Months Ended September 30, 2017
(In millions)	Las Vegas				Other U.S.				All Other				Elimination				Caesars
Net income/(loss) attributable to Caesars	$	107			$	70			$	(610	)		$	—			$	(433	)
Net loss attributable to noncontrolling interests	—				(6		)		—				—				(6		)
Income tax benefit ⁽¹⁾	—				—				(45		)		—				(45		)
Restructuring and support expenses and other ⁽²⁾	—				(20		)		468				—				448
Interest expense	—				3				117				—				120
Depreciation and amortization	124				24				2				—				150
Other operating costs ⁽³⁾	2				1				33				—				36
Stock-based compensation expense	1				—				7				—				8
Other items ⁽⁴⁾	1				2				23				—				26
Adjusted EBITDA	$	235			$	74			$	(5	)		$	—			$	304



	Nine Months Ended September 30, 2018
(In millions)	Las Vegas				Other U.S.				All Other				Elimination				Caesars
Net income/(loss) attributable to Caesars	$	294			$	(24	)		$	(165	)		$	—			$	105
Net income attributable to noncontrolling interests	—				1				—				—				1
Income tax benefit ⁽¹⁾	—				—				(134		)		—				(134		)
Restructuring and support expenses and other ⁽²⁾	(4		)		(2		)		(332		)		—				(338		)
Interest expense	245				414				346				—				1,005
Depreciation and amortization	423				371				49				—				843
Other operating costs ⁽³⁾	42				13				73				—				128
Stock-based compensation expense	6				7				42				—				55
Other items ⁽⁴⁾	5				4				67				—				76
Adjusted EBITDA	$	1,011			$	784			$	(54	)		$	—			$	1,741



	Nine Months Ended September 30, 2017
(In millions)	Las Vegas				Other U.S.				All Other				Elimination				Caesars
Net income/(loss) attributable to Caesars	$	404			$	133			$	(2,909	)		$	—			$	(2,372	)
Net loss attributable to noncontrolling interests	—				(7		)		—				—				(7		)
Income tax provision ⁽¹⁾	—				—				34				—				34
Restructuring and support expenses and other ⁽²⁾	3				(20		)		2,336				—				2,319
Interest expense	8				17				384				—				409
Depreciation and amortization	277				66				5				—				348
Other operating costs ⁽³⁾	17				3				33				—				53
Stock-based compensation expense	2				1				23				—				26
Other items ⁽⁴⁾	5				4				50				—				59
Adjusted EBITDA	$	716			$	197			$	(44	)		$	—			$	869

____________________


⁽¹⁾	Taxes are recorded at the consolidated level and not estimated or recorded to our Las Vegas and Other U.S. segments.


⁽²⁾	2018 amount primarily represents a change in fair value of our derivative liability related to the conversion option of the CEC Convertible Notes; 2017 amount primarily represents CEC’s costs in connection with the restructuring of CEOC.


⁽³⁾	Amounts primarily represent costs incurred in connection with costs associated with the development activities and reorganization activities, and/or recoveries associated with such items.


⁽⁴⁾	Other items includes other add-backs and deductions to arrive at Adjusted EBITDA but not separately identified such as litigation awards and settlements, costs associated with CEOC’s restructuring and related litigation, severance and relocation costs, sign-on and retention bonuses, permit remediation costs, and business optimization expenses.

Condensed Balance Sheets - By Segment

	September 30, 2018
(In millions)	Las Vegas				Other U.S.				All Other				Elimination				Caesars
Total assets	$	13,990			$	8,633			$	6,342			$	(2,999	)		$	25,966
Total liabilities	5,856				5,082				11,720				141				22,799

Condensed Balance Sheets - By Segment

Condensed Balance Sheets - By Segment

	September 30, 2018
(In millions)	Las Vegas				Other U.S.				All Other				Elimination				Caesars
Total assets	$	13,990			$	8,633			$	6,342			$	(2,999	)		$	25,966
Total liabilities	5,856				5,082				11,720				141				22,799



	December 31, 2017
(In millions)	Las Vegas				Other U.S.				All Other				Elimination				Caesars
Total assets	$	14,145			$	6,865			$	7,458			$	(3,032	)		$	25,436
Total liabilities	5,239				5,012				11,780				108				22,139