Caesars Entertainment (CZR) Approves $500M Buyback

Caesars Entertainment Corporation (NASDAQ: CZR) ("Caesars Entertainment") today announced that its Board of Directors has authorized the repurchase of up to $500 million of the company's outstanding common stock.

"The new repurchase authorization allows us flexibility to strategically return cash to shareholders while pursuing accretive growth opportunities," said Mark Frissora, President and Chief Executive Officer. "The company is well positioned to increase shareholder returns and fund growth opportunities as they arise, while maintaining a strong balance sheet. The Board and management are fully committed to increasing shareholder value."

Repurchases may be made at the company's discretion from time to time on the open market or in privately negotiated transactions. The repurchase program has no time limit, does not obligate the company to make any repurchases and may be suspended for periods or discontinued at any time. Any shares acquired will be available for general corporate purposes. Caesars Entertainment intends to finance the share repurchase program using cash from operations.

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