Stockholders' Equity, Noncontrolling Interests and Variable Interest Entities (Notes)

9 Months Ended

Sep. 30, 2013

Equity [Abstract]

Stockholders' Equity, Noncontrolling Interests and Variable Interest Entities

Stockholders' Equity, Noncontrolling Interests and Variable Interest Entities

Common Stock

In March 2012, the Company filed a prospectus with the SEC, as part of a registration statement, to sell shares of common stock, up to a maximum aggregate offering price of $500.0 million. In April 2012, the Company entered into an equity distribution agreement with Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC whereby the Company may issue and sell up to 10.0 million shares of the Company's common stock from time to time. During the three and nine months ended September 30, 2013, the Company issued 155,000 and 1,055,493 shares, respectively, with aggregate offering proceeds of $2.8 million and $15.4 million, respectively. During the three and nine months ended September 30, 2012, the Company issued 15,000 shares for aggregate offering proceeds of $0.2 million. As of September 30, 2013, a total of 1,070,493 shares had been issued for total proceeds of $15.6 million.

Pursuant to an underwriting agreement entered into on September 25, 2013, Caesars issued 10.3 million shares of its common stock at a price of $19.40 per share to the underwriter. The transaction closed on October 1, 2013. See Note 21, "Subsequent Events."

Noncontrolling Interests

CBAC Gaming, LLC, the Company-led consortium developing Horseshoe Casino Baltimore, received additional capital contributions from minority shareholders of $35.3 million in the nine months ended September 30, 2013. The investment increased the Company's noncontrolling interest equity for partner contributions to the development of the project, net of pre-opening losses of $6.3 million also allocated to noncontrolling interest equity.

Financing for the project was obtained and the development broke ground in July 2013. See Note 8, "Debt."