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.
—Reuters and CNBC's Evelyn Cheng contributed to this report.