There is… a light in the tunnel for «Caesars»

13 Jan 2017

CaesarsCaesars Entertainment Corporation (CEC), the company that owns one of the most well known and iconic casinos in America, «Caesar’s Palace», have been through some rough times in the last few years. Their debt is extra big and they got very close to end their operations. But finally the governance of the company are closing in on a final resolution with senior creditors relating to the $18 billion debt restructure.

The majority of the creditors have already agreed and accepted the terms for the debt reorganisation. They have done anything within their powers to get the case away from the US bankruptcy courts, where it has been since January 2015. The company’s governance will now move to a January 17 final bankruptcy hearing. There the judges will review the debt plans and as it seems, the current stakeholders will be owning only a 6% of the company, if the plans will be approved of course. Until now, the governance of Caesars Entertainment Corporation (CEC) have spent over 300 million dollars on legal services. But as it seems, this will be the last act at the debt «battles».

10,000+ have already benefited from Bookmakers.bet

Register to our newsletter and be the first to get our exclusive bonuses and promotions. Fill in your name & email and stay tuned on the latest offers and the new bookmakers in your country.

I agree with the terms of use.

BOOK SPY

The UK Gambling Commission has announced that it will ban the use of credit cards on all gambling activities taking place in Great Britain from 14 Apr...

Read more »

Betsson is paying out early on Liverpool FC to be crowned the 2019-20 Premier League champion, since the Reds sit 14 points clear atop the table with ...

Read more »

The new draft law on online gambling, that was initially submitted to the Hellenic Parliament on October 9, 2019, has been eventually submitted to the...

Read more »

The Swedish bookmaker Betsson has taken a 75% stake of Suaposta, which is one of the first betting brands to ever operate in Brazil. The Stockholm-bas...

Read more »

The gross gambling yield (GGY) of the British gambling industry decreased 0.3% year-on-year for the period between April 2018 and March 2019, amountin...

Read more »

The gaming group Soft2Bet, which is based in Malta, is getting ready to start its operations within the well-regulated Swedish gambling market; since ...

Read more »

Online sports betting operators in France enjoyed significant quarterly revenue growth for Q3 2019 compared to the revenue generated during the same p...

Read more »

Bet-at-home AG has announced that it bolstered its commercial status and its revenue, in spite of the €11.5 million Austrian tax burden that was impos...

Read more »

LeoVegas has restored its five-year Swedish gambling license, since it managed to win its appeal against the country’s gaming regulator Spelinspektion...

Read more »

The popular online bookmaker Interwetten has announced the signing of a sponsorship deal with the Greek Super League, which is the top tier football l...

Read more »