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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Stock Option Activity
Caesars Entertainment Stock Option Activity
 
Shares
 
Weighted Average Exercise Price
 
Weighted Average Remaining Contractual Term (years)
 
Aggregate Intrinsic Value
(in millions)
Outstanding as of December 31, 2018
8,360,365

 
$
10.63

 
2.8
 
$
—

Exercised
(5,550,720
)
 
8.51

 
 
 
 
Forfeited
(45,544
)
 
8.65

 
 
 
 
Expired
(616,351
)
 
15.74

 
 
 
 
Outstanding as of December 31, 2019
2,147,750

 
14.67

 
2.8
 
9

Vested and expected to vest as of December 31, 2019
2,147,750

 
14.67

 
2.8
 
9

Exercisable as of December 31, 2019
1,516,588

 
8.71

 
3.7
 
8
Stock Option Grants and Exercises
Caesars Entertainment Stock Option Exercises
 
Years Ended December 31,
(Dollars in millions)
2019
 
2018
 
2017
Option Exercises:
 
 
 
 
 
Number of options exercised
5,550,720

 
746,332

 
1,249,640

Cash received for options exercised
$
47

 
$
6

 
$
8

Aggregate intrinsic value of options exercised
$
17

 
$
3

 
$
7
Restricted Stock Activity The following table summarizes the activity of Caesars Entertainment’s RSUs during the year ended December 31, 2019.
 
Units
 
Weighted Average Fair Value (1)
Outstanding as of December 31, 2018
13,455,092

 
$
11.51

Granted
5,228,512

 
8.77

Vested
(8,087,020
)
 
10.76

Forfeited
(2,264,434
)
 
10.58

Outstanding as of December 31, 2019
8,332,150

 
10.77

____________________
(1) 
Represents the weighted average grant date fair value of RSUs, which is the share price of our common stock on the grant date
Performance Shares Activity The following table summarizes the activity of Caesars Entertainment’s PSUs during the year ended December 31, 2019.
 
Units
 
Weighted Average Fair Value (1)
Outstanding as of December 31, 2018
1,466,183

 
$
6.79

Granted
1,166,336

 
8.71

Vested
(676,923
)
 
10.34

Forfeited
(501,933
)
 
9.19

Outstanding as of December 31, 2019
1,453,663

 
13.60

____________________
(1) 
Grant date fair value, for which compensation expense of these unvested awards is measured, has not been achieved. This represents the quoted market price of our common stock on the dates indicated.
Market Based Stock Activity
 
Units
 
Weighted Average Fair Value (1)
Outstanding as of December 31, 2018
—

 
$
—

Granted
702,761

 
12.63

Vested
(81,832
)
 
12.63

Forfeited
(186,008
)
 
12.63

Outstanding as of December 31, 2019
434,921

 
 
____________________
(1) 
Represents the fair value determined using a Monte-Carlo simulation model.
Composition of Stock-Based Compensation
Composition of Stock-Based Compensation Expense (All Plans)
 
Years Ended December 31,
(In millions)
2019
 
2018
 
2017
Corporate expense
$
69

 
$
60

 
$
36

Property, general, administrative, and other
19

 
19

 
7

Total stock-based compensation expense
$
88

 
$
79

 
$
43