Tag Archives: Caesars Entertainment

Updating the market on Tuesday, Caesars Entertainment Corp (CEC) governance declared that it had reached a $5 billion settlement with the majority of creditors owed by its bankrupt operating unit Caesars Entertainment Operating Co (COEC). Following nearly two years of litigation disputes, the COEC $18 billion bankruptcy restructure clears its biggest hurdle with private equity backers Apollo Global Management and TPG …

California-based real-money games specialist Gamblit Gaming (Gamblit) seeks to enter the burgeoning eSports market by unveiling its dedicated platform ‘G-Sports’ at G2E Las Vegas, global gambling’s biggest trade show. Announcing its initial launch, the G-Sports platform will look to convert eSports content into popular slot-based games for its land-based partners. The platform sees Gamblit continue its corporate focus of making …

In a bid to attract a younger audience to its casino floors, Caesars Entertainment Corporation (CEC) has partnered with ‘real-money games’ specialist Gamblit Gaming bringing skill-based gambling content to its properties. Beginning in October, CEC will roll-out Gamblit syndicated content throughout its California and Nevada properties, as the casino operator looks to diversify its slots and games inventory making it …

Updating the market Caesars Entertainment Corporation (CEC) has announced that it has agreed on terms with creditors to amend restructuring agreements for  its bankrupt operating division ‘Caesars Entertainment Operating Co’ (COEC). Issuing a filing with the Securities and Exchange Commission, CEC governance declared that it had reached an agreement with first lien creditors representing approximately two-thirds of aggregated COEC debt. …

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 …

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 …

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 …

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 …

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 …

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 …