Tag Archives: Caesars Entertainment
- South Korea’s Netmarble Games among bidders for Caesars Interactive’s Playtika
South Korea’s Netmarble Games Corp is making a play to acquire social casino operator Playtika from casino giant Caesars Entertainment. On Tuesday, Korean business media outlet Pulse News reported that Netmarble, the mobile game unit of South Korean conglomerate CJ Group, had submitted a letter of intent to purchase Playtika....
- Bankruptcy judge gives Caesars creditors the okay to vote on restructuring
Casino operator Caesars Entertainment has received court approval to allow creditors to vote on the proposed restructuring plan of the operator’s bankrupt main unit. On Wednesday, US Bankruptcy Judge Benjamin Goldgar set a Jan. 17, 2017 confirmation hearing for the planned restructuring of Caesars Entertainment Operating Co (CEOC), which filed...
- Caesars Entertainment wins temporary reprieve of creditor lawsuits
Beleaguered casino operator Caesars Entertainment has won a temporary reprieve from having to face creditor lawsuits. On Wednesday, US Bankruptcy Court Judge Benjamin Goldgar told Caesars he had suspended bondholder lawsuits in Delaware and New York until Aug. 29. The period is shorter than Caesars had requested and Goldgar said...
- Casino union thumbs down “risky” Caesars’ REIT plan
A casino worker’s union has sounded alarm bells over plans of Caesars Entertainment Corp. to spin assets of its bankrupt operating unit into a real estate investment trust (REIT), which they claimed to be built on sand. The casino workers union, Unite Here!, has released a report last Tuesday, warning...
- US lawmakers oppose Caesar’s REIT plan
Fifteen U.S. lawmakers are now up in arms against Caesars Entertainment Corp.’s real estate investment trust (REIT) plan, which will provide the beleaguered gaming and entertainment firm a favorable tax treatment, Reuters reported. In a letter dated May 26, the legislators cautioned Treasury Secretary Jacob Lew from approving Caesars’ REIT...
- Caesars improves restructuring offer but junior creditors appear unimpressed
Struggling casino operator Caesars Entertainment Corp (CEC) has amended the restructuring plan for its bankrupt main unit by promising creditors an extra $2.5b. For over a year now, CEC has been attempting to convince creditors to agree to the restructuring of Caesars Entertainment Operating Co (CEOC), which listed $18.4b in...
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