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Caesars Entertainment Corp

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  • Jan 28- The bankruptcy of the operating unit of Caesars Entertainment Corp's will proceed in Chicago, a victory for the casino company's private equity backers over its hedge fund creditors who wanted the case in Delaware. Bankruptcy Judge in Delaware sent shares of parent company Caesars Entertainment, which is controlled by Apollo Global Management and...

  • Jan 28- A U.S. bankruptcy judge said on Wednesday he would not transfer the bankruptcy filing of Caesars Entertainment Corp's operating unit to Delaware from Chicago, a victory for the company's private equity backers. Hedge funds creditors wanted the casino company's $10 billion debt-cutting plan reviewed under the legal standards of the Delaware court.

  • WILMINGTON, Del.— A federal judge in Delaware ruled Wednesday that the Chapter 11 case of casino giant Caesars Entertainment Corp. will proceed in Illinois, denying a motion by several creditor groups who wanted the case heard in Delaware. Bankruptcy Judge Kevin Gross was a victory for Caesars, whose operating unit filed for bankruptcy protection in Chicago...

  • WILMINGTON, Del, Jan 27- The operating unit of Caesars Entertainment Corp will learn Wednesday whether its bankruptcy will proceed in Chicago, where the casino company filed for Chapter 11 this month, or in Delaware, a U.S. bankruptcy judge in Delaware said on Tuesday. Allowing the case to proceed in Chicago would be a victory for Caesars private equity backers,...

  • WILMINGTON, Del.— A court battle over whether the bankruptcy case of casino giant Caesars Entertainment Corp. should proceed in Delaware or in Illinois was postponed Monday because of a snowstorm bearing down on the East Coast. The judge presiding over Monday's hearing in Wilmington, Delaware, said he was concerned about the safety of attorneys, many of whom...

  • Caesars bankruptcy venue decision near Friday, 23 Jan 2015 | 3:30 PM ET

    LAS VEGAS— Delaware or Chicago: Troubled casino giant Caesars Entertainment Corp. should find out early next week where a subsidiary's Chapter 11 bankruptcy case will be decided. Caesars prefers Chicago, where its Caesars Entertainment Operating Co. filed for bankruptcy protection filed Jan. 15. Based only on previous cases, that may be easier to do in Chicago...

  • ATLANTIC CITY NJ/ NEW YORK Jan 22- A new emergency management team for the casino resort town Atlantic City said it would take about six months for a turnaround plan to show results but it was' premature' to talk about bankruptcy for the city, which has seen gaming revenues decimated. New Jersey Governor Chris Christie on Thursday appointed a turnaround team,...

  • ATLANTIC CITY, NJ/ NEW YORK Jan 22- New Jersey Governor Chris Christie on Thursday appointed a turnaround team, including former Detroit emergency manager Kevyn Orr, for Atlantic City in a step the struggling casino town has resisted. The team will be led by Emergency Manager Kevin Lavin, who previously worked for business and turnaround consultancy FTI.

  • NEW YORK Jan 22- New Jersey governor Chris Christie plans on Thursday to introduce former Detroit emergency manager Kevyn Orr as part of an emergency management team for struggling Atlantic City, according to a press invitation to the event. A former corporate bankruptcy lawyer at the firm Jones Day, he most recently guided Detroit through the biggest-ever...

  • WILMINGTON, Delaware/ CHICAGO Jan 15- The operating unit of Caesars Entertainment Corp, the largest U.S. casino company, filed for Chapter 11 bankruptcy on Thursday in Chicago to cut $10 billion of debt, but a Delaware judge intervened to halt the case before it got started. The bankruptcy was filed overnight by Caesars Entertainment Operating Company Inc and 179...

  • Jan 15- The operating unit of Caesars Entertainment Corp, the largest U.S. casino company, filed for Chapter 11 bankruptcy on Thursday to implement its plan to cut $10 billion of debt, but faced an immediate challenge over where the case should proceed. The bankruptcy protection was filed by Caesars Entertainment Operating Company Inc and scores of affiliates...

  • Caesars Entertainment's unit files for bankruptcy Thursday, 15 Jan 2015 | 4:26 AM ET
    Caesars Entertainment Corp.'s Caesars Palace in Las Vegas.

    The operating unit of Caesars Entertainment Corp, the largest U.S. casino company, filed for Chapter 11 bankruptcy on Thursday.

  • Jan 15- The operating unit of Caesars Entertainment Corp, the largest U.S. casino company, filed for Chapter 11 bankruptcy on Thursday to implement its plan to cut $10 billion of debt. The bankruptcy protection was filed by Caesars Entertainment Operating Company Inc and several affiliates in the U.S. Bankruptcy Court for the Northern District of Illinois.

  • Jan 15- The operating unit of Caesars Entertainment Corp, the largest U.S. casino company, filed for Chapter 11 bankruptcy on Thursday to implement its plan to cut $10 billion of debt.

  • "It's an absolutely remarkable result for a year that saw so much tumult in the gaming market," said Israel Posner, executive director of the Lloyd D. Levenson Institute of Gaming Hospitality and Tourism at Stockton College. Four casinos in Atlantic City closed in 2014. A fifth, Trump Entertainment's Taj Mahal, narrowly averted closing and remains in bankruptcy.

  • Markets split on endgame for Caesars' looming bankruptcy Wednesday, 14 Jan 2015 | 7:17 PM ET

    Jan 14- On the eve of Caesars Entertainment Corp's $10 billion debt-cutting bankruptcy, markets are reflecting two competing views of how the casino company's high-stakes plan will play out. "The fact there is equity value in Caesars, that equity value describes a really optimistic view of how this will play out," said Chris Snow, an analyst with CreditSights.

  • The next day they asked the judge assigned to the involuntary case to stay any voluntary bankruptcy until the Delaware bankruptcy judge can rule on the proper court to hear the case. Earlier on Tuesday, a Caesars attorney told a Delaware state court judge the company will seek to extend to itself the legal shield of bankruptcy protection once its operating unit...

  • Jan 12- A group of hedge fund creditors of Caesars Entertainment Corp sought on Monday to force its main operating unit into bankruptcy and to appoint an independent examiner to investigate what they allege was the plundering of the company. The involuntary bankruptcy petition was filed by affiliates of Appaloosa Management, Oaktree Capital Management and...

  • Jan 12- A group of second-lien bondholders of casino operator Caesars Entertainment Corp filed a petition for involuntary Chapter 11 bankruptcy protection against the company's largest unit after it defaulted on interest payments. Caesars Entertainment Operating Co Inc defaulted on $225 million of payments due on Dec. 15. Caesars Entertainment Corp...

  • Early movers: TIF, DLTR, CZR, MS, GM & more Monday, 12 Jan 2015 | 7:58 AM ET
    Trader on the floor of the New York Stock Exchange.

    Some of the names on the move ahead of the open.