Stock-Based Compensation

6 Months Ended

Jun. 30, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Caesars Entertainment Stock-Based Compensation

We maintain long-term incentive plans for management, other personnel, and key service providers. The plans allow for granting stock-based compensation awards, including time-based and performance-based stock options, restricted stock units, restricted stock awards, stock grants, or a combination of awards.

Composition of Stock-Based Compensation Expense

	Three Months Ended June 30,				Six Months Ended June 30,
(In millions)	2015		2014		2015		2014
Corporate expense	$	23	$	12	$	35	$	19
Property, general, administrative, and other	8		12		22		31
Total stock-based compensation expense	$	31	$	24	$	57	$	50

Stock Option Activity

	June 30, 2015			December 31, 2014
	Shares	Wtd Avg Exercise Price		Shares	Wtd Avg Exercise Price
Outstanding at end of period	10,662,153	$	13.02	9,379,885	$	13.65
Granted during 2015	1,629,641	10.68		N/A	N/A

Restricted Stock Unit Activity

	June 30, 2015			December 31, 2014
	Shares	Wtd Avg Fair Value		Shares	Wtd Avg Fair Value
Outstanding at end of period	6,297,028	$	12.48	2,156,727	$	17.45
Granted during 2015	4,981,883	10.67		N/A	N/A

CIE Stock-Based Compensation

CIE grants stock-based compensation awards in CIE common stock to its employees, directors, service providers and consultants in accordance with the Caesars Interactive Entertainment, Inc. Amended and Restated Management Equity Incentive Plan (the “Plan”), which is intended to promote the interests of CIE and its shareholders by providing key employees, directors, service providers and consultants with an incentive to encourage their continued employment or service and improve the growth and profitability of CIE.

Stock-based compensation expense attributable to CIE is recorded in property, general, administrative, and other in the consolidated condensed statements of operations and comprehensive income and totaled $7 million and $20 million for the three and six months ended June 30, 2015, respectively, and $8 million and $26 million for the three and six months ended June 30, 2014, respectively. As of the June 30, 2015 and December 31, 2014, the liability related to outstanding options and warrants was $85 million and $103 million, respectively. The current portion is recorded in accrued expenses and other current liabilities on the Consolidated Balance Sheets, while the long-term portion is recorded in deferred credits and other liabilities.

Stock Option Activity

	June 30, 2015			December 31, 2014
	Shares	Wtd Avg Exercise Price		Shares	Wtd Avg Exercise Price
Outstanding at end of period	13,040	$	4,862.96	13,279	$	3,953.85
Granted during 2015	1,325	13,192.23		N/A	N/A

Restricted Stock Unit Activity

	June 30, 2015			December 31, 2014
	Shares	Wtd Avg Fair Value		Shares	Wtd Avg Fair Value
Outstanding at end of period	5,351	$	7,178.96	5,096	$	6,494.71
Granted during 2015	701	12,761.81		N/A	N/A