Caesars Entertainment Corp

Caesars Entertainment Corp - Politics, Business, Civil, History - Posted: 17th Jan, 2015 - 5:02am

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Post Date: 15th Jan, 2015 - 10:10am / Post ID: #

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Caesars Entertainment Corp

Caesar's unit says it filed Chapter 11 in bid to cut debt

A subsidiary of casino giant Caesars Entertainment Corp. Said Thursday that it has filed for Chapter 11 bankruptcy protection in Chicago in an effort to shed more than half of its $18.4 billion debt burden. Caesar's has been negotiating with creditors and lenders for months on a reorganization plan that would turn the division into a real estate investment trust, promising creditors cash or new debt. The firm is still at odds with many of its creditors over the plan, the Wall Street Journal reports. Ref. USAToday

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17th Jan, 2015 - 5:02am / Post ID: #
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Corp Entertainment Caesars

Its amazing how an institution that promotes gambling and causes many to lose all their wealth now has to itself file for bankruptcy.


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