Shares of Caesars Entertainment briefly jumped 20 percent on Thursday afternoon to hit a fresh 52-week intraday high after a Bloomberg report that the company had reached a preliminary deal with its creditors on a new bankruptcy structure.
Caesars' spokesman Stephen Cohen declined to comment to CNBC.
Shares of the casino operator were already higher after Wednesday's 21 percent surge following the company's announcement of a plan to increase contributions to its debt restructuring plan.
On Wednesday, Caesars and its private equity backers proposed a settlement offer to add $1.6 billion for creditors of its casino operating unit. The troubled unit, Caesars Entertainment Operating or CEOC, originally filed for bankruptcy in January 2015.