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Caesars Entertainment, Inc.

For the period ended Dec 31, 2025. Filed Feb 17, 2026.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 17, 2026

CZR$29.30+0.1%Stored close · as of Nov 10, 2026

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Contents

Item 15. Exhibits and Financial Statement Schedules

(a)(i) Financial Statements

Report of Independent Registered Public Accounting Firm

Consolidated Balance Sheets as of December 31, 2025 and 2024

Consolidated Statements of Operations for the Years Ended December 31, 2025, 2024 and 2023

Consolidated Statements of Comprehensive Income (Loss) for the Years Ended December 31, 2025, 2024 and 2023

Consolidated Statements of Stockholders’ Equity for the Years Ended December 31, 2025, 2024 and 2023

Consolidated Statements of Cash Flows for the Years Ended December 31, 2025, 2024 and 2023

Notes to Consolidated Financial Statements

We have omitted schedules other than the ones listed above because they are not required or are not applicable, or the required information is shown in the financial statements or notes to the financial statements.

(a)(ii) Exhibits

ExhibitNumberDescription of ExhibitMethod of Filing
2.1Agreement and Plan of Merger, dated as of June 24, 2019, by and among Caesars Entertainment Corporation, Eldorado Resorts, Inc. and Colt Merger Sub, Inc.Previously filed on Form 8-K filed on June 25, 2019.
2.2Amendment No. 1 to Agreement and Plan of Merger, dated as of August 15, 2019, by and among Caesars Entertainment Corporation, Eldorado Resorts, Inc. and Colt Merger Sub, Inc.Previously filed on Form 8-K filed on August 16, 2019.
3.1Amended and Restated Certificate of Incorporation of Caesars Entertainment, Inc.Previously filed on Form 8-K filed on June 16, 2023.
3.2Amended and Restated Bylaws of Caesars Entertainment, Inc.Previously filed on Form 8-K filed on July 28, 2025.
4.1Description of Capital StockFiled herewith.
4.2Indenture (4.625% CEI Senior Notes due 2029), dated as of September 24, 2021, by and between Caesars Entertainment, Inc., the guarantors party thereto and U.S. Bank National Association, as trustee.Previously filed on Form 8-K filed on September 27, 2021.
4.3First Supplemental Indenture, dated as of October 4, 2022, to Indenture (4.625% CEI Senior Notes due 2029), by and among Caesars Entertainment, Inc., the guarantors party thereto and U.S. Bank National Association, as trustee.Previously filed on Form 8-K filed on October 5, 2022.
4.4Second Supplemental Indenture, dated as of November 3, 2023, to Indenture (4.625% CEI Senior Notes due 2029), by and among Caesars Entertainment, Inc., the guarantors party thereto and U.S. Bank National Association, as trustee.Previously filed on Form 10-K filed on February 20, 2024.
4.5Third Supplemental Indenture, dated as of August 23, 2024, to Indenture (4.625% CEI Senior Notes due 2029), by and among Caesars Entertainment, Inc., the guarantors party thereto and U.S. Bank National Association, as trustee.Previously filed on Form 10-K filed on February 25, 2025.
4.6Indenture (7.00% Senior Secured Notes due 2030), dated as of February 6, 2023, by and among Caesars Entertainment, Inc., the subsidiary guarantors party thereto, U.S. Bank Trust Company, National Association, as trustee, and U.S. Bank National Association, as collateral agent.Previously filed on Form 8-K filed on February 6, 2023.
4.7First Supplemental Indenture (7.00% CEI Senior Secured Notes due 2030), dated as of March 24, 2023, to Indenture, dated as of February 6, 2023, by and among Caesars Entertainment, Inc., the subsidiary guarantors party thereto, U.S. Bank Trust Company, National Association, as Trustee, and U.S. Bank National Association, as Collateral Agent.Previously filed on Form 10-Q filed on May 3, 2023.
4.8Second Supplemental Indenture (7.00% CEI Senior Secured Notes due 2030), dated as of November 3, 2023, to Indenture, dated as of February 6, 2023, by and among Caesars Entertainment, Inc., the subsidiary guarantors party thereto, U.S. Bank Trust Company, National Association, as Trustee, and U.S. Bank National Association, as Collateral Agent.Previously filed on Form 10-K filed on February 20, 2024.
4.9Third Supplemental Indenture (7.00% CEI Senior Secured Notes due 2030), dated as of August 23, 2024, to Indenture, dated as of February 6, 2023, by and among Caesars Entertainment, Inc., the subsidiary guarantors party thereto, U.S. Bank Trust Company, National Association, as Trustee, and U.S. Bank National Association, as Collateral Agent.Previously filed on Form 10-K filed on February 25, 2025.
4.10Indenture (6.50% CEI Senior Secured Notes due 2032), dated as of February 6, 2024, by and among Caesars Entertainment, Inc., the subsidiary guarantors party thereto, U.S. Bank Trust Company, National Association, as Trustee, and U.S. Bank National Association, as Collateral Agent.Previously filed on Form 8-K filed on February 7, 2024.
4.11First Supplemental Indenture (6.50% CEI Senior Secured Notes due 2032), dated as of March 1, 2024, to Indenture, dated as of February 6, 2024, by and among Caesars Entertainment, Inc., the subsidiary guarantors party thereto, U.S. Bank Trust Company, National Association, as Trustee, and U.S. Bank National Association, as Collateral Agent.Previously filed on Form 10-Q filed on April 30, 2024.
4.12Second Supplemental Indenture (6.50% CEI Senior Secured Notes due 2032), dated as of August 23, 2024, to Indenture, dated as of February 6, 2024, by and among Caesars Entertainment, Inc., the subsidiary guarantors party thereto, U.S. Bank Trust Company, National Association, as Trustee, and U.S. Bank National Association, as Collateral Agent.Previously filed on Form 10-K filed on February 25, 2025.
4.13Indenture (6.00% CEI Senior Notes due 2032) dated as of October 17, 2024, by and among Caesars Entertainment, Inc., the subsidiary guarantors party thereto, and U.S. Bank Trust Company, National Association, as Trustee.Previously filed on Form 8-K filed on October 17, 2024.
ExhibitNumberDescription of ExhibitMethod of Filing
10.1Second Amendment to Lease (CPLV) (which includes a conformed copy of the Las Vegas Lease through the Second Amendment), dated as of July 20, 2020, by and among CPLV Property Owner LLC, Claudine Propco LLC, Propco TRS LLC, Desert Palace LLC, CEOC, LLC and Harrah’s Las Vegas, LLCPreviously filed on Form 8-K filed on July 21, 2020.
10.2Third Amendment to Lease, dated as of September 30, 2020, by and among CPLV Property Owner LLC, Claudine Propco LLC, Propco TRS LLC, Desert Palace LLC, CEOC, LLC and Harrah’s Las Vegas, LLC.Previously filed on Form 10-Q filed on November 9, 2020.
10.3Fourth Amendment to Lease, dated as of November 18, 2020, by and among CPLV Property Owner LLC, Claudine Propco LLC, Propco TRS LLC, Desert Palace LLC, CEOC, LLC and Harrah’s Las Vegas, LLC.Previously filed on Form 10-K on March 1, 2021.
10.4Fifth Amendment to Lease, dated as of September 3, 2021, by and among CPLV Property Owner LLC, Claudine Propco LLC, Propco TRS LLC, Desert Palace LLC, CEOC, LLC and Harrah’s Las Vegas, LLC.Previously filed on Form 10-Q on November 5, 2021.
10.5Sixth Amendment to Lease, dated as of November 1, 2021, by and among CPLV Property Owner LLC, Claudine Propco LLC, Propco TRS LLC, Desert Palace LLC, CEOC, LLC and Harrah’s Las Vegas, LLC.Previously filed on Form 10-K filed on February 24, 2022.
10.6Guaranty, dated as of July 20, 2020, by and among Eldorado Resorts, Inc., CPLV Property Owner LLC and Claudine Propco LLC.Previously filed on Form 8-K filed on July 21, 2020.
10.7**Fifth Amendment to Lease (Non-CPLV) (which includes a conformed copy of the Regional Lease through the Fifth Amendment), dated as of July 20, 2020, by and among the entities listed on Schedule A attached thereto, Harrah’s Atlantic City LLC, New Laughlin Owner LLC, Harrah’s New Orleans LLC, the entities listed on Schedule B attached thereto, Harrah’s Atlantic City Operating Company, LLC, Harrah’s Laughlin, LLC, Jazz Casino Company, L.L.C. and Propco TRS LLC.Previously filed on Form 8-K filed on July 21, 2020.
10.8**Sixth Amendment to Lease, dated as of September 30, 2020, by and among the entities listed on Schedules A and B thereto and Propco TRS LLC.Previously filed on Form 10-Q filed on November 9, 2020.
10.9Seventh Amendment to Lease, dated as of November 18, 2020, by and among the entities listed on Schedules A and B thereto and Propco TRS LLC.Previously filed on Form 10-K on March 1, 2021.
10.10Eighth Amendment to Lease, dated as of September 3, 2021, by and among the entities listed on Schedule A and B thereto and Propco TRS LLC.Previously filed on Form 10-Q on November 5, 2021.
10.11Ninth Amendment to Lease, dated as of November 1, 2021, by and among the entities listed on Schedules A and B thereto and Propco TRS LLC.Previously filed on Form 10-K filed on February 24, 2022.
10.12Tenth Amendment to Lease (Regional), dated as of December 30, 2021, by and among the entities listed on Schedules A and B thereto and Propco TRS LLC.Previously filed on Form 10-K filed on February 24, 2022.
10.13Eleventh Amendment to Lease, dated as of August 25, 2022, by and among the entities listed on Schedules A and B thereto and Propco TRS LLC.Previously filed on Form 10-Q filed on November 2, 2022.
10.14Twelfth Amendment to Lease, dated as of April 7, 2023, by and among the entities listed on Schedules A and B thereto and Propco TRS LLC.Previously filed on Form 10-Q filed on May 3, 2023.
10.15Thirteenth Amendment to Lease, dated as of June 27, 2025, by and among the entities listed on Schedules A and B thereto and Propco TRS LLC.Previously filed on Form 10-Q filed on July 29, 2025.
10.16**Guaranty of Lease, dated as of July 20, 2020, by and among Eldorado Resorts, Inc. and the entities listed on Schedule A thereto (Regional).Previously filed on Form 8-K filed on July 21, 2020.
10.17**Second Amendment to Lease (Joliet) (which includes a conformed copy of the Joliet Lease through the Second Amendment), dated as of July 20, 2020, by and among Harrah’s Joliet Landco LLC, Des Plaines Development Limited Partnership, CEOC, LLC and Propco TRS LLC.Previously filed on Form 8-K filed on July 21, 2020.
10.18**Third Amendment to Lease, dated as of September 30, 2020, by and among Harrah’s Joliet Landco LLC, Des Plaines Development Limited Partnership, CEOC, LLC and Propco TRS LLC.Previously filed on Form 10-Q filed on November 9, 2020.
10.19Fourth Amendment to Lease, dated as of November 18, 2020, by and among Harrah’s Joliet Landco LLC, Des Plaines Development Limited Partnership, CEOC, LLC and Propco TRS LLC.Previously filed on Form10-K on March 1, 2021.
ExhibitNumberDescription of ExhibitMethod of Filing
10.20Fifth Amendment to Lease, dated as of September 3, 2021, by and among Harrah’s Joliet Landco LLC, Des Plaines Development Limited Partnership, CEOC, LLC and Propco TRS LLC.Previously filed on Form 10-Q on November 5, 2021.
10.21Sixth Amendment to Lease, dated as of November 1, 2021, by and among Harrah’s Joliet Landco LLC, Des Plaines Development Limited Partnership, CEOC, LLC and Propco TRS LLC.Previously filed on Form 10-K filed on February 24, 2022.
10.22Guaranty, dated as of July 20, 2020, by and between Eldorado Resorts, Inc. and Harrah’s Joliet Landco LLC.Previously filed on Form 8-K filed on July 21, 2020.
10.23*Right of First Refusal Agreement, dated as of July 20, 2020, by and between Eldorado Resorts, Inc. and VICI Properties L.P. (Las Vegas Strip).Previously filed on Form 8-K filed on July 21, 2020.
10.24Right of First Refusal Agreement, dated as of July 20, 2020, by and between Eldorado Resorts, Inc. and VICI Properties L.P. (Horseshoe Baltimore).Previously filed on Form 8-K filed on July 21, 2020.
10.25Right of First Refusal Agreement, dated as of September 3, 2021, by and between EBCI Holdings LLC, Caesars Entertainment, Inc. and VICI Properties L.P. (Caesars Virginia).Filed herewith.
10.26Second Amendment to Golf Course Use Agreement, dated as of July 20, 2020, by and among Rio Secco LLC, Cascata LLC, Chariot Run LLC, Grand Bear LLC, Caesars Enterprise Services, LLC, CEOC, LLC and, solely for purposes of Section 2.1(c) thereof, Caesars License Company, LLC.Previously filed on Form 8-K filed on July 21, 2020.
10.27*Second Amended and Restated Put-Call Right Agreement entered into as of September 18, 2020 by and among Claudine Propco LLC and Caesars Convention Center Owner, LLC.Previously filed on Form 8-K filed on September 18, 2020.
10.28First Amendment to Second A&R Put-Call Right Agreement entered into as of May 1, 2023 by and among Claudine Propco LLC and Caesars Convention Center Owner, LLCFiled herewith.
10.29First Amendment to Third Amended and Restated Omnibus License and Enterprise Services Agreement, dated as of July 20, 2020, by and among Caesars Enterprise Services, LLC, CEOC, LLC, Caesars Resort Collection, LLC, Caesars License Company, LLC and Caesars World LLC (including as Exhibit A thereto a conformed copy of the Third Amended and Restated Omnibus License and Enterprise Services Agreement, dated as of December 26, 2018, as amended).Previously filed on Form 8-K filed by Caesars Holdings, Inc. on July 21, 2020.
10.30Credit Agreement, dated as of July 20, 2020, by and among Eldorado Resorts, Inc., the lenders party thereto from time to time, JPMorgan Chase Bank, N.A., as administrative agent, and U.S. Bank National Association, as collateral agent.Previously filed on Form 8-K filed on July 21, 2020.
10.31Incremental Assumption Agreement No. 1, dated as of July 20, 2020, by and among Eldorado Resorts, Inc., the subsidiary guarantors party thereto, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent.Previously filed on Form 8-K filed on July 21, 2020.
10.32First Amendment to Credit Agreement, dated as of November 10, 2021, by and between Caesars Entertainment, Inc. and JPMorgan Chase Bank, N.A., as administrative agent.Previously filed on Form 8-K filed on November 10, 2021.
10.33Second Amendment to Credit Agreement, dated as of January 26, 2022, by and between Caesars Entertainment, Inc. and JPMorgan Chase Bank, N.A., as administrative agent.Previously filed on Form 8-K filed on January 27, 2022.
10.34Third Amendment to Credit Agreement, dated as of October 5, 2022, by and among Caesars Entertainment, Inc., the subsidiary guarantors party thereto, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent.Previously filed on Form 8-K filed on October 5, 2022.
10.35Incremental Assumption Agreement No. 2, dated as of February 6, 2023, by and among Caesars Entertainment, Inc., the subsidiary guarantors party thereto, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent.Previously filed on Form 8-K filed on February 6, 2023.
10.36Incremental Assumption Agreement No. 3, dated as of February 6, 2024, by and among Caesars Entertainment, Inc., the subsidiary guarantors party thereto, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent.Previously filed on Form 8-K filed on February 7, 2024.
10.37Fourth Amendment to Credit Agreement, dated as of May 9, 2024, by and among Caesars Entertainment, Inc., the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent.Previously filed on Form 8-K filed on May 9, 2024.
10.38Fifth Amendment to Credit Agreement, dated as of November 25, 2024, by and among Caesars Entertainment, Inc., the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent.Previously filed on Form 8-K filed on November 25, 2024.
10.39Caesars Entertainment Corporation Amended and Restated Escrow Agreement, dated as of December 12, 2016, between Caesars Entertainment Corporation and Wells Fargo Bank, N.A.Previously filed on Form 8-K filed by Caesars Holdings, Inc. on October 13, 2017.
ExhibitNumberDescription of ExhibitMethod of Filing
10.40Amended and Restated Casino Operating Contract, dated April 1, 2020, by and between Jazz Casino Company, L.L.C. and the State of Louisiana, by and through the Louisiana Gaming Control Board.Previously filed on Form 8-K filed by Caesars Holdings, Inc. on April 6, 2020.
10.41First Amendment to the Amended and Restated Casino Operating Contract, made and entered into as of April 9, 2020, and made effective as of April 1, 2020, by and between Jazz Casino Company, L.L.C. and the State of Louisiana, by and through the Louisiana Gaming Control Board.Previously filed on Form 8-K/A filed by Caesars Holdings, Inc. on April 14, 2020.
10.42†Caesars Entertainment Corporation Executive Supplemental Savings Plan III.Previously filed on Form S-8 filed by Caesars Holdings, Inc. on December 13, 2018.
10.43†Caesars Entertainment Corporation Outside Director Deferred Compensation Plan.Previously filed on Form S-8 filed by Caesars Holdings, Inc. on December 13, 2018.
10.44†Caesars Entertainment, Inc. Second Amended and Restated 2015 Equity Incentive PlanPreviously filed on Form 8-K filed on June 14, 2024.
10.45†Form of Director Indemnification Agreement.Previously filed on Form 10-Q filed on November 9, 2020.
10.46†Form of Director Restricted Stock Unit Award Agreement pursuant to the Eldorado Resorts, Inc. 2015 Equity Incentive Plan.Previously filed on Form 10-K filed on February 25, 2025.
10.47†Form of Restricted Stock Unit Award Agreement (Time-Based) pursuant to the Amended & Restated 2015 Equity Incentive Plan.Previously filed on Form 10-K filed on February 25, 2025.
10.48†Form of Restricted Stock Unit Award Agreement Performance-Based (EBITDA) pursuant to the Amended & Restated 2015 Equity Incentive Plan.Previously filed on Form 10-K filed on February 25, 2025.
10.49†Form of Restricted Stock Unit Award Agreement Performance-Based (TSR) pursuant to the Amended & Restated 2015 Equity Incentive Plan.Previously filed on Form 10-K filed on February 25, 2025.
10.50†Amended and Restated Executive Employment Agreement, dated as of August 10, 2022, by and between Caesars Enterprise Services, LLC and Bret Yunker.Previously filed on Form 10-Q filed on November 2, 2022.
10.51†First Amendment to the Amended and Restated Executive Employment Agreement, dated as of January 26, 2024, by and between Caesars Enterprise Services, LLC and Bret Yunker.Previously filed on Form 10-Q filed on April 30, 2024.
10.52†Amended and Restated Executive Employment Agreement, dated as of August 10, 2022, by and between Caesars Enterprise Services, LLC and Stephanie Lepori.Previously filed on Form 10-K filed on February 25, 2025.
10.53†First Amendment to the Amended and Restated Executive Employment Agreement, dated as of January 26, 2024, by and between Caesars Enterprise Services, LLC and Stephanie Lepori.Previously filed on Form 10-Q filed on April 30, 2024.
10.54†Amended and Restated Executive Employment Agreement, dated as of August 10, 2022, by and between Caesars Enterprise Services, LLC and Thomas Reeg.Previously filed on Form 10-Q filed on November 2, 2022.
10.55†First Amendment to the Amended and Restated Executive Employment Agreement, dated as of January 26, 2024, by and between Caesars Enterprise Services, LLC and Thomas Reeg.Previously filed on Form 10-Q filed on April 30, 2024.
10.56†Restricted Stock Unit Award Agreement by and between Caesars Entertainment, Inc. and Thomas R. Reeg dated February 25, 2022.Previously filed on Form 8-K filed on March 1, 2022.
10.57†Amended and Restated Executive Employment Agreement, dated as of August 10, 2022, by and between Caesars Enterprise Services, LLC and Anthony Carano.Previously filed on Form 10-Q filed on November 2, 2022.
10.58†First Amendment to the Amended and Restated Executive Employment Agreement, dated as of January 26, 2024, by and between Caesars Enterprise Services, LLC and Anthony Carano.Previously filed on Form 10-Q filed on April 30, 2024.
10.59†Amended and Restated Executive Employment Agreement, dated as of August 10, 2022, by and between Caesars Enterprise Services, LLC and Edmund L. Quatmann, Jr.Previously filed on Form 10-Q filed on November 2, 2022.
ExhibitNumberDescription of ExhibitMethod of Filing
10.60†First Amendment to the Amended and Restated Executive Employment Agreement, dated as of January 26, 2024, by and between Caesars Enterprise Services, LLC and Edmund L. Quatmann, Jr.Previously filed on Form 10-Q filed on April 30, 2024.
10.61†Director Appointment and Nomination Agreement, dated March 17, 2025, by and between Caesars Entertainment, Inc., Carl C. Icahn, Jesse Lynn, Ted Papapostolou, Icahn Partners Master Fund LP, Icahn Offshore LP, Icahn Partners LP, Icahn Onshore LP, Icahn Capital LP, IPH GP LLC, Icahn Enterprises Holdings L.P., Icahn Enterprises G.P. Inc, Beckton Corp. and Nakatomi Trading, LLCPreviously filed on Form 8-K filed on March 20, 2025.
10.62†Amendment to Director Appointment and Nomination Agreement, dated May 2, 2025, by and between Caesars Entertainment, Inc., Carl C. Icahn, Jesse Lynn, Ted Papapostolou, Icahn Partners Master Fund LP, Icahn Offshore LP, Icahn Partners LP, Icahn Onshore LP, Icahn Capital LP, IPH GP LLC, Icahn Enterprises Holdings L.P., Icahn Enterprises G.P. Inc, Beckton Corp. and Nakatomi Trading, LLCPreviously filed on Form 8-K filed on May 2, 2025.
10.63Amended and Restated Omnibus Amendment to Leases, dated as of October 27, 2020, by and among the entities listed on Schedule A attached thereto CPLV Property Owner LLC, Claudine Propco LLC, Harrah’s Joliet Landco LLC, CEOC, LLC, the entities listed on Schedule B attached thereto, Desert Palace LLC, Harrah’s Las Vegas, LLC, Des Plaines Development Limited Partnership and Propco TRS LLC.Previously filed on Form 10-Q filed on November 9, 2020.
10.64Third Amended and Restated Master Lease, dated as of November 13, 2023, by and among Tropicana Entertainment, Inc., IOC Black Hawk County, Inc., Isle of Capri Bettendorf, L.C. and GLP Capital L.P.Previously filed on Form 10-K filed on February 20, 2024.
14.1Code of Ethics and Business ConductFiled herewith.
19.1Policy on Insider Information and Insider TradingFiled herewith.
19.2Supplement to Policy on Insider Trading for Blackout InsidersFiled herewith.
19.3Supplement to Policy on Insider Trading for Pre-Clearance InsidersFiled herewith.
21.1Subsidiaries of the RegistrantFiled herewith.
23.1Consent of Deloitte & Touche LLPFiled herewith.
31.1Certification of Thomas R. Reeg pursuant to Rule 13a-14a and Rule 15d-14(a)Filed herewith.
31.2Certification of Bret Yunker pursuant to Rule 13a-14a and Rule 15d-14(a)Filed herewith.
32.1Certification of Thomas R. Reeg in accordance with 18 U.S.C. Section 1350Filed herewith.
32.2Certification of Bret Yunker in accordance with 18 U.S.C. Section 1350Filed herewith.
97.1Policy Relating to Recovery of Erroneously Awarded CompensationFiled herewith.
99.1Gaming and Regulatory OverviewFiled herewith.
101.1Inline XBRL Instance DocumentFiled herewith.
101.2Inline XBRL Taxonomy Extension Schema DocumentFiled herewith.
101.3Inline XBRL Taxonomy Extension Calculation Linkbase DocumentFiled herewith.
101.4Inline XBRL Taxonomy Extension Definition Linkbase DocumentFiled herewith.
101.5Inline XBRL Taxonomy Extension Label Linkbase DocumentFiled herewith.
101.6Inline XBRL Taxonomy Extension Presentation Linkbase DocumentFiled herewith.
104Cover Page Interactive Data File (embedded within the Inline XBRL document)Filed herewith.
†Denotes a management contract or compensatory plan or arrangement.
*Certain schedules and exhibits have been omitted pursuant to Item 601(a)(5) of Regulation S-K.
**Portions of this exhibit have been omitted pursuant to Item 601(b)(10)(iv) of Regulation S-K because such information is (i) not material and (ii) could be competitively harmful if publicly disclosed.
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