Material Agreement Form 8 K

On November 25, 2024, Caesars Entertainment, Inc. (the "Company"), a Delaware corporation, entered into a Fifth Amendment to Credit Agreement (the "Amendment"), by and among the Company, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent (the "Administrative Agent"). The Amendment amends the Credit Agreement, dated as of July 20, 2020, by and among the Company, the lenders party thereto from time to time, the Administrative Agent and U.S. Bank National Association, as collateral agent (as amended, restated, supplemented, waived or otherwise modified from time to time, the "Credit Agreement").

Among other things, the Amendment reduces the interest rate margins applicable to the Company's existing approximately $2.4 billion term B loan facility and the Company's existing approximately $2.9 billion term B-1loan facility to, at the Company's option, either (a) a forward-looking term rate based on the secured overnight financing rate for the applicable interest period ("Term SOFR"), subject to a floor of 0.50% or (b) a base rate (the "Base Rate") determined by reference to the highest of (i) the rate of interest per annum last quoted by The Wall Street Journal as the "Prime Rate" in the United States, (ii) the federal funds rate plus 0.50% per annum and (iii) the one-monthTerm SOFR plus 1.00% per annum, in each case, plus an applicable margin. Such applicable margin is, with respect to any term B loan, 2.25% per annum in the case of any Term SOFR loan and 1.25% per annum in the case of any Base Rate loan, and with respect to any term B-1loan, 2.25% per annum in the case of any Term SOFR loan and 1.25% per annum in the case of any Base Rate loan.

The representations, warranties and covenants contained in the Amendment were made only for purposes of the Amendment and as of the specific date (or dates) set forth therein, were solely for the benefit of the parties to the Amendment and are subject to certain limitations as agreed upon by the contracting parties. In addition, the representations, warranties and covenants contained in the Amendment may be subject to standards of materiality applicable to the contracting parties that differ from those applicable to investors. Investors are not third-party beneficiaries of the Amendment and should not rely on the representations, warranties and covenants contained therein, or any descriptions thereof, as characterizations of the actual state of facts or conditions of the Company. Moreover, information concerning the subject matter of the representations and warranties may change after the date of the Amendment, which subsequent developments may not be reflected in the Company's public disclosure.

The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, which is filed as Exhibit 10.1 hereto and incorporated herein by reference.