Caesars Entertainment (CZR) executive compensation, 2026 proxy

Thomas R. Reeg, Chief Executive Officer, was paid $17.2M in 2025, down 6% from $18.4M the year before. The CEO-to-median-employee pay ratio was 297:1, on median employee pay of $57,879.

Filed
April 23, 2026
Annual meeting
June 9, 2026
Pay year
2025
Named executives
5
CEO total pay
$17.2M-6% vs prior year
CEO to median employee
297:1median $57,879
CEO pay in equity
70%$12M in awards
Prior say-on-pay support
67%of votes cast
CEO Base Salary
$2,060,000Fiscal 2025 base salary
CEO Target Bonus
$4,120,000Annual incentive program target
Median Employee Pay
$57,879Fiscal 2025 annual total
CEO Pay Ratio
297:1Ratio to median employee

How Reeg was paid

$17.2M in total for 2025, as reported in the Summary Compensation Table. Equity awards are valued at grant, not at what they turned out to be worth.

Salary12%Stock awards70%Non-equity incentive17%All other compensation1%

Named executive officers

ExecutiveTotal
Thomas R. ReegChief Executive Officer$17,199,029
Bret YunkerChief Financial Officer$6,950,291
Anthony L. CaranoPresident and Chief Operating Officer$8,223,318
Edmund L. Quatmann, Jr.Chief Legal Officer$3,955,873
Stephanie LeporiChief Accounting, Human Resources, and Administrative Officer$3,596,930

What changed and why

  • $17.2MCEO total compensation decreased to $17,199,029 for fiscal 2025 from $18,371,934 in the prior year.
  • Beginning in 2025, the company eliminated overlapping performance goals by replacing Adjusted EBITDA PSUs with free cash flow PSUs.
  • 67%Following a 67% say-on-pay support vote in 2025, the compensation committee engaged directly with top shareholders representing 40% of outstanding stock.

About this page

Figures are automated and can be wrong; check the filing for the exact numbers. Totals follow SEC rules, which value stock and option awards at grant. Read the DEF 14A proxy statement for footnotes and the compensation committee's full reasoning.