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Caesars Entertainment(CZR) - 2024 Q4 - Annual Report

Employment and Team Members - Approximately 50,000 Team Members are employed across the organization, excluding tribal partnerships[65] - 22,000 Team Members, or 44%, are covered by collective bargaining agreements, with key agreements expiring between 2026 and 2029[66] - The company has invested in professional training and development, safety, health, and wellbeing programs for Team Members[65] - Caesars has contributed to responsible gaming initiatives, training tens of thousands of Team Members annually to assist guests in need[75] - In 2024, the Caesars Foundation contributed 3.4milliontocommunityprojectsacrosstheUnitedStates,withTeamMembersvolunteeringover93,000hours[84]EnvironmentalInitiativesCaesarshasestablishedmultiyeartargetsforgreenhousegasemissionsreductionaspartofitsPEOPLEPLANETPLAYstrategy[74]CaesarsupdateditsScope1and2GHGemissionreductiongoalstoalignwitha1.5degreeCelsiuslimit,aimingfora46.23.4 million to community projects across the United States, with Team Members volunteering over 93,000 hours[84] Environmental Initiatives - Caesars has established multi-year targets for greenhouse gas emissions reduction as part of its PEOPLE PLANET PLAY strategy[74] - Caesars updated its Scope 1 and 2 GHG emission reduction goals to align with a 1.5-degree Celsius limit, aiming for a 46.2% reduction by 2030 from a 2019 baseline[81] - Between 2019 and 2023, Caesars achieved a 20.7% reduction in absolute Scope 1 and 2 GHG emissions[81] - Caesars set a target for a 37.5% reduction in Scope 3 emissions by 2035 against a 2022 baseline[81] - The company scored a B for both water security and climate change in its participation in the CDP[83] - Caesars has contracts for solar energy projects expected to be operational by the end of 2025, including developments in Atlantic City and Nevada[82] - The company reported a total waste diversion from landfills of 44% in 2023[83] - Caesars is engaged in long-term initiatives to manage risks and opportunities associated with climate change[62] Financial Performance and Risks - The company is subject to significant state and local taxes and fees, which are subject to increase at any time, impacting overall financial performance[59] - As of December 31, 2024, Caesars had a total long-term debt of 12.3 billion, with 5.9billioninvariablerateborrowings[344]Assuminga100basispointincreaseinTermSOFR,Caesarsannualinterestcostwouldincreasebyapproximately5.9 billion in variable-rate borrowings[344] - Assuming a 100 basis-point increase in Term SOFR, Caesars' annual interest cost would increase by approximately 59 million based on outstanding amounts[346] - Caesars' average interest rate for fixed-rate long-term debt is 4.3%, while the average for variable-rate debt is 6.4%[346] Corporate Social Responsibility - Caesars' CSR strategy is guided by a CEO-level external CSR Advisory Board, reflecting its commitment to corporate social responsibility[72] - The company is required to maintain a current stock ledger and submit detailed financial and operating reports to gaming authorities[64] - Caesars maintains a comprehensive risk-based Bank Secrecy Act and Anti-Money Laundering program to comply with applicable regulations[54]