Debt (Tables)

9 Months Ended

Sep. 30, 2012

Outstanding Debt

The following table presents our outstanding debt as of September 30, 2012 and December 31, 2011:

Detail of Debt (dollars in millions)	Final Maturity	Rate(s) at Sept. 30, 2012	Face Value at Sept. 30, 2012			Book Value at Sept. 30, 2012			Book Value at Dec. 31, 2011
Credit Facilities
Term Loans B1 - B3	2015	3.22%	$	1,985.7		$	1,985.7		$	5,000.5
Term Loan B4	2016	9.50%		972.5			956.1			961.2
Term Loan B5	2018	4.47%		1,222.7			1,218.7			1,218.2
Term Loan B6	2018	5.47%		2,044.9			2,027.9			—
Revolving Credit Facility	2014	—		—			—			155.0
Revolving Credit Facility	2017	—		—			—			—
Secured Debt
Senior Secured Notes	2017	11.25%		2,095.0			2,058.7			2,054.6
Senior Secured Notes	2020	8.50%		1,250.0			1,250.0			—
Senior Secured Notes	2020 (a)	9.00%		750.0			750.0			—
CMBS Financing	2015 (b)	3.24%		4,829.1			4,825.0			5,026.0
Second-Priority Senior Secured Notes	2018	12.75%		750.0			742.7			742.1
Second-Priority Senior Secured Notes	2018	10.00%		4,553.1			2,224.6			2,131.2
Second-Priority Senior Secured Notes	2015	10.00%		214.8			171.2			164.2
Chester Downs Term Loan	2016	—		—			—			221.3
Chester Downs Senior Secured Notes	2020	9.25%		330.0			330.0			—
PHW Las Vegas Senior Secured Loan	2015 (b)	3.10%		515.6			433.0			417.9
Linq/Octavius Senior Secured Loan	2017	9.25%		450.0			446.3			445.9
Subsidiary-Guaranteed Debt
Senior Notes	2016	10.75%		478.6			478.6			478.6
Senior PIK Toggle Notes	2018	10.75%/11.5%		9.8			9.8			8.6
Unsecured Senior Debt
5.375%	2013	5.375%		125.2			114.5			108.6
7.0%	2013	7.00%		0.6			0.6			0.6
5.625%	2015	5.625%		364.5			301.7			287.7
6.5%	2016	6.50%		248.7			198.2			190.6
5.75%	2017	5.75%		147.9			106.6			107.2
Floating Rate Contingent Convertible Senior Notes	2024	0.57%		0.2			0.2			0.2
Other Unsecured Borrowings
Special Improvement District Bonds	2037	5.30%		64.3			64.3			65.7
Other	Various	Various		28.9			28.9			0.4
Capitalized Lease Obligations	to 2014	1.10%-9.49%		35.2			35.2			13.6
Total Debt				23,467.3			20,758.5			19,799.9
Current Portion of Long-Term Debt (a) (c)				(800.8	)		(797.3	)		(40.4	)
Long-Term Debt			$	22,666.5		$	19,961.2		$	19,759.5

^(a) Represents the note offering that occurred in August 2012. Although the notes mature in 2020, they are classified as short-term obligations within our September 30, 2012 balance sheet because the escrow conditions were not met as of that date.

^(b) Assumes the exercise of extension options to move the maturity from 2013 to 2015, subject to certain conditions.

^(c) The CMBS Financing is not included in our current portion of long-term debt due to (b) above.