Tag Archives: Caesars Entertainment

Caesars Entertainment gains lawsuit relief

Embattled Caesars Entertainment Corporation (CEC) has been granted a temporary reprieve by Chicago bankruptcy Judge A. Benjamin Goldgar, who has halted bondholder legal proceedings against the company. Judge Goldgar, heard the plea of Caesars bankrupt unit ‘Caesars Entertainment Operating Co’ (COEC) which stated that lawsuits seeking $11 billion compensation against CEC would finish any chance of the company restructuring its …

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Google poaches Caesars Commercial Officer Tariq Shaukat

US tech news sources have reported that Google has hired Caesars Entertainment Corporation (CEC) Chief Commercial Officer Tariq Shaukat to lead its enterprise division. Shaukat leaves embattled CEC following four and half years’ services, in which he oversaw group commercial and marketing activities as Chief Commercial Officer (October 2014 – May 2016) and Chief Marketing Officer (March 2012 – September 2014). Joining tech giant …

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Caesars Entertainment pledges $4 billion CEOC debt contribution

Seeking to soothe its fraught relationship with creditors, Caesars Entertainment Corp (CEC) is set to contribute approximately $4 billion to the restructure of the ‘Caesars Entertainment Operating Company’ (CEOC) unit. The move sees CEC governance up its original debt pledge from $1.5 billion to the $4 billion mark, with the contribution set to be financed through cash and new debt for equity …

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Caesars Entertainment appoints Judge Robert E. Gerber as Chief Restructuring Officer

Embattled Caesars Entertainment Corporation (Caesars Entertainment) has confirmed the appointment of the Honourable Robert E. Gerber as Chief Restructuring Officer (CRO) Gerber a New York Bankruptcy Court Judge has been appointed on the recommendation of Caesars Entertainment’s special strategic committee. Updating the market, Caesars Entertainment detailed that Gerber would be advising the company on corporate restructuring initiatives, debt obligations and …

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Scott Longley – Heavy Duty – Debtors come to bury Caesars

As the European gambling industry consolidates creating sector giants. Scott Longley takes a look at the debt crisis that has engulfed Caesars Entertainment.   If anyone doubts that we are still living with the after effects of the 2008 financial crisis, they need look no further than the travails of one of the more high-profile corporate victims of the appropriately-termed …

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Market downcast on Caesars Entertainment’s future outlook

The share price of embattled gambling operator Caesars Entertainment has dropped 10% to a $7.60 – $8.08 range as markets reacted negatively to the operator’s Q3 performance update (period ending 30 September). Despite recording a 12% increase in revenues to $1.14 billion (£750 million), NASDAQ traders saw no positives for the operator which posted quarter net loss of $756 million …

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Caesars places casino operating unit under Chapter 11 bankruptcy protection

  Caesars Entertainment Corp has filed for Chapter 11 bankruptcy protection in Chicago this Thursday as the operator looks to cut creditor debt for its Caesars Entertainment Operating CO division which operates Caesars’ 50 casino and leisure properties worldwide. US news reports have stated that the gambling operator seeks to reduce its debt from $18.4 billion to $8.6 billion. The casino operator …

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Caesars Entertainment in danger of bankruptcy

Casino and leisure operator Caesars Entertainment has entered talks with creditors to create a financial restructuring plan in order to ease its debt burdens which exceed $24 billion (£15.4 billion). In its last quarter financial earnings report the casino operator recorded net losses of $900 million (£570 million), even though it had managed to grow revenues 6% to $2.21 billion. …

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Caesars Entertainment relaunches loyalty programme

Caesars Entertainment UK has re-launched its Player Rewards loyalty programme and partnered with Gaming Rewards to create a new and exciting range of rewards for their UK customers.  Featuring a mix of physical and digital rewards, the catalogue is designed to appeal to players of all levels. The agreement is for a multi phased programme that will continue to develop …

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Atlantic City casino industry suffers from burgeoning north-east US gambling market

The historic gambling city of New Jersey, Atlantic City, is in crisis. It seems it’s biggest draw; it’s casinos, have reached a point of saturation. Of the twelve that were open at the start of 2014, it looks likely that only nine will remain by September. Caesars Entertainment, which has bemoaned the fact that there are too many casinos in …

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