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Caesars Entertainment plummets toward Ch. 11

Caesars Entertainment Corp. is working to improve its capital structure, but despite moves to cut costs, buy back debt and pursue a spinoff transaction during the second quarter, Caesars' $23.7 billion debt load is still the elephant in the room and could push them into Chapter 11.

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11/25/2014

article Caesars Lenders Seek Receiver, Claiming Unit Was Looted
(Wall Street) -- A Caesars Entertainment Corp. creditor group said managers should be stripped of control of the casino company’s operating unit because they...
article Fitch: Caesars' Default Would Add Nearly 90 Basis Points to U.S. HY Rate
(New York) -- The potential default of Caesars Entertainment Operating Company would push the trailing 12-month (TTM) U.S. high yield default rate to 3.3%, according to...

11/24/2014

article Analysts favor Caesars move to put key unit into REIT
(Wall Street) -- Two analysts support Caesars Entertainment Corp. placing its largest operating division into a real estate investment trust to deal with its gaming...
article Caesars calls default notice ‘meritless’
(Wall Street) -- Caesars Entertainment Corp., which has been embroiled in debt reduction talks with its lenders, said Monday one of its banks had filed a notice of...

11/21/2014

article Sorting out Caesars: How company slid into distress, and what’s next
(Las Vegas) -- The financial mess consuming Caesars Entertainment has been years in the making. The casino company has struggled with more than $20 billion in debt for...
article Will Caesars Entertainment's REIT Plan Offset Debt Issue? - Analyst Blog
(Wall Street) -- Share price of Caesars Entertainment Corporation was up 5.4% on Nov 20 after the company presented a plan to its creditors to restructure the...

11/20/2014

article Caesars could split to ease debt troubles
(Wall Street) -- US gaming company Caesars Entertainment wants to solve its debt problems by splitting into two as it seeks to appease creditors. The troubled casino...
article Caesars Proposes Transforming Main Unit Into REIT
(Wall Street) -- Caesars Entertainment Corp. disclosed Wednesday that it has made a proposal to creditors to restructure its main operating unit into a real-estate...

11/19/2014

article Caesars Lender Silver Point Said to Exit Debt Negotiations
(Las Vegas) -- Silver Point Capital LP, a creditor of Caesars Entertainment Corp. (CZR)’s largest unit, exited talks to restructure the casino operator’s...
article Caesars Proposes Splitting Into REIT and Operating Company
(Las Vegas) -- Caesars Entertainment Corp. has approached senior creditors about a plan to convert the casino company’s largest unit into a real-estate investment...
article Caesars reveals plan after creditor walks away
(Las Vegas) -- Overwhelmed with debt and seeking a way out from under it, Caesars Entertainment Corp. floated a plan that would have turned its most debt-heavy division...
article Caesars studying placing largest operating division into REIT
(Las Vegas) -- Caesars Entertainment Corp. is considering placing its largest operating division into a real estate investment trust as a way of dealing with its gaming...
article Caesars to Split Casinos, Management in $18.4 Billion Restructuring
(Las Vegas) -- Caesars Entertainment Corp., the most-indebted U.S. gaming company, presented a plan to creditors that would restructure the obligations of its biggest...

11/15/2014

article Vegas Wire: Caesars' jobs cut less than 1% of 68,000 on staff
(Atlantic City) -- Casino giant Caesars Entertainment Corp. attempted to clarify planned cost-saving measures, saying it will reduce its 68,000-person work force...

11/14/2014

article Caesars Says Operating Unit to Run Out of Cash Next Year
(Wall Street) -- Caesars Entertainment Corp. (CZR:US) said its largest division won’t have enough cash to repay debts by the fourth quarter of 2015 if it can...

11/13/2014

article Analyst: Caesars Entertainment could be looking at bankruptcy, layoffs
(Las Vegas) -- Casino-entertainment giant Caesars Entertainment could lay off several employees early next year as part of a financial restructuring effort, according to...
article Caesars Surges 23% On CEOC Bankruptcy Filing
(Wall Street) -- Given its insurmountable debt load, I thought Caesars (NASDAQ:CZR) was in trouble heading into Q2 earnings. After its Q3 losses widened Y/Y, management...

11/12/2014

article Caesars Q3 Loss Widens, Revenues Lag; Shares Down - Analyst Blog
(New York) -- Caesars Entertainment Corporation 's shares plunged 7.28% in after-hours trading on Monday as the company posted lackluster third-quarter results....
article Caesars weighs layoffs, but Strip might be spared
(Las Vegas) -- Caesars Entertainment Corp. expects to create an extra $250 million to $300 million in cash flow in 2015 through various cost-savings measures. Much of...
article With a $10,000 cap on political contributions, how did Caesars give Gov. Brian Sandoval $215,000?
(Nevada) -- In Nevada, the most a person or company can give to a candidate for political office is capped at $10,000. But that limit didn't stop Caesars...

11/11/2014

article Analyst: Caesars could ‘run out of cash’ in two or three quarters
(New York) -- Wall Street analysts have all but written off Caesars Entertainment Corp. until the casino operator straightens out its balance sheet. The company, which...
article Caesars Said Lining Up Creditors for January Bankruptcy
(New York) -- Caesars Entertainment Corp. (CZR) reached an agreement with key senior creditors on the outline of a debt restructuring plan that includes a prearranged...

11/10/2014

article Vegas nightclub may pay tab for $185 million Caesars loan
(Las Vegas) -- Caesars Entertainment Corp., the casino owner saddled with $24 billion in debt, has a new source of income — from a nightclub on the Strip —...
article A Casino Sent Promotional Emails to Compulsive Gamblers Because of a Software Glitch
(New Jersey) -- Welp, this is not what you wanna hear. Because of a "back-end software issue," Caesars Entertainment in New Jersey emailed promotions to 250...
article “Software issue” caused Casino to e-mail promotions to compulsive gamblers
(New Jersey) -- Caesars Entertainment says a "back-end software issue" caused it to wrongly e-mail promotional gambling material to more than 250 "...
article Caesars 3Q loss widens
(Las Vegas) -- Caesars Entertainment Corp. on Monday reported a wider third-quarter loss, sending the casino company's shares plunging in extended trading. The Las...
article Caesars CEO encouraged by Las Vegas tourism indicators
(Las Vegas) -- Caesars Entertainment, the debt-saddled operator of many of the Strip’s most iconic resorts, reported its third quarter earnings today.
article Caesars Entertainment posts $908.1 million loss in Q3
(Las Vegas) -- Caesars Entertainment Corp. lost $908.1 million in the third quarter despite a 6 percent increase in revenue, the casino company said Monday. The...
article Caesars Entertainment’s Loss Widens as Player Debts Rise
(New York) -- Caesars Entertainment Corp. (CZR), the U.S. casino owner trying to restructure billions of dollars in loans, said its third-quarter loss widened as players...

11/7/2014

article Caesars Palace employee falls down elevator shaft
(Las Vegas) -- Officials say a worker at Caesars Palace accidentally drove a motorized cart through a freight elevator's doors and fell about two floors down into an...
article Sides resolve subpoena fight in Vegas between Caesars Palace, Internet gambling defendants
(Las Vegas) -- A federal judge in Nevada heard defense attorneys allege Thursday that the FBI improperly enlisted Caesars Palace officials to obtain a crucial search...

10/30/2014

article Caesars unveils new look, name at LINQ hotel-casino
(Las Vegas) -- A new hotel and casino is now open for business, formerly known as The Quad. It's been newly-transformed into The LINQ Hotel & Casino. "It...

10/29/2014

article Caesars Creditor Perry Said to Leave Restructuring Talks
(New York) -- Perry Corp., the $10.9 billion hedge-fund firm that is a creditor to Caesars Entertainment Corp. (CZR)’s largest unit, walked away from talks to...
article Creditor walks away from restructuring talks with Caesars
(New York) -- One of Caesars Entertainment Corp.’s main creditors walked away from talks over restructuring a portion of the casino company’s $24.2 billion...

10/20/2014

article Caesars $24.2B US in debt, talking with creditors
(New York) -- Caesars Entertainment said Friday it is prepared to start formal discussions with some of its bank lenders as it works to reduce its debt and stave off...
article Caesars faces possible bankruptcy; Windsor casino not at risk
(Windsor) -- News that Caesars Entertainment Corporation is facing possible bankruptcy in the U.S. has not affected its operations in Windsor, according to a company...

10/19/2014

article Caesars says to engage bank creditors over debt
(Wall Street) -- Caesars Entertainment Corp and its subsidiary Caesars Entertainment Operating Co Inc (CEOC) said they would begin talks with bank creditors in order to...

10/18/2014

article Caesars Entertainment Fortify and Reduce or Chapter 11
(Las Vegas) -- Things aren’t looking too good for Caesars Entertainment. The company’s days may be numbered due to its $24 billion debt it incurred. Caesars...
article Casino giant Caesars talks with creditors as debt mounts, analysts foresee bankruptcy
(Las Vegas) -- Caesars Entertainment said Friday it is prepared to start formal discussions with some of its bank lenders as it works to reduce its debt and stave off...

10/17/2014

article As debt mounts, Caesars in talks
(Australia) -- CAESARS Entertainment says it is prepared to start formal discussions with some of its bank lenders as it works to stave off what some see as near certain...

10/15/2014

article Expected Caesars Entertainment subsidiary bankruptcy doesn't mean casino will close
(Atlantic City) -- A bankruptcy filing by one of Caesars Entertainment Corp.’s debt-mired subsidiaries is widely expected by industry observers. But are any of the...

10/14/2014

article Omnia, former site of Pure, to open at Caesars Palace in spring 2015
(Las Vegas) -- Hakkasan Group announced this morning Omnia, its newest nightclub concept on the Strip. Omnia takes over the former space of Pure, and the multifaceted...
article Caesars Entertainment appoints Keith Causey as Chief Accounting Officer
(Las Vegas) -- Gambling and Entertainment operator Caesars Entertainment Corporation has announced the appointment of Keith Causey as Senior Vice President and Chief...

10/8/2014

article Caesars subsidiary receives default notice from bondholders
(New York) -- A fund representing a group of Caesars Entertainment Corp bondholders has declared that one of the company’s subsidiaries is in default on a portion...

10/7/2014

article Caesars Gets Default Notice as Bondholders Seek Liens
(New York) -- A group of Caesars Entertainment Corp. bondholders declared that the casino company’s largest unit is in default after it pledged collateral to...

9/26/2014

article Caesars Grants Senior Creditors Rights to Proceeds
(New York) -- Caesars Entertainment Corp. (CZR) granted the most senior lenders in its largest unit the right to possible proceeds from lawsuits brought against the...

9/25/2014

article Caesars’ assets seen as insufficient to satisfy lenders
(New York) -- Yields on bonds from a Caesars Entertainment unit are diverging in a sign that the casino company will be unable to satisfy warring creditor classes and...

9/24/2014

article Caesars’ Pot Too Tiny to Satisfy Lenders: Distressed Debt
(New York) -- Yields on bonds from a Caesars Entertainment Corp. (CZR) unit are diverging in a sign that the casino company will be unable to satisfy warring creditor...

9/23/2014

article Caesars' water leadership doesn't stay in Vegas
(Las Vegas) -- Caesars Entertainment, one of America's largest gaming companies headquartered in Las Vegas, has invested over $70 million dollars in water and energy...
article Stars rally to fill in for Celine Dion, but when will she return to Caesars?
(Las Vegas) -- Fellow Caesars Palace headliners Rod Stewart and Sir Elton John are the first two stars to help fill the dates left open as a result of Celine Dion’...

9/18/2014

article Assemblyman seeks hearing on Caesars' restructuring
(New Jersey) -- A state lawmaker wants state gaming regulators to hold a hearing on Caesars Entertainment’s recent restructuring, saying in a letter to the Casino...

9/13/2014

article Caesars Entertainment Corp. (CZR) is beginning talks with some senior...
(UK) -- Caesars Entertainment Corp. (CZR) is beginning talks with some senior creditors of its biggest unit to restructure a portion of the company’s $24.2 billion...
article Caesars Gambles On TV Campaign
(Atlantic City) -- Caesars Casino are running a TV campaign to advertise their online gambling site, but will this just add to Atlantic City’s woes?
article Caesars’ Debt: A Game of Dealer’s Choice
(New York) -- The house always wins. That’s worth remembering when you’re in a casino. It also seems to be true for some people who hold Caesars...
article First big booking for Waterfront Conference Center
(Atlantic City) -- If all goes as planned, the enormous Waterfront Conference Center at Harrah’s will host its first major conference in October 2015.
article Harrah's conference center to woo a different Atlantic City visitor
(Atlantic City) -- With a group of meeting planners in tow and a clear blue sky as a backdrop, Caesars Entertainment Inc. executives showed off progress Friday on the...

9/12/2014

article Caesars moves to restructure $24 billion debt
(Atlantic City) -- Caesars Entertainment Corp. said Friday it would begin discussions with its senior bondholders in efforts to restructure the largest portions of the...

9/10/2014

article Atlantic City, brace yourself: Gordon Ramsay to open restaurant at Caesars
(Atlantic City) -- Maybe Gordon Ramsay can shout profitability back into Atlantic City. As yet another casino — Trump Taj Mahal — files for bankruptcy in the...
article Lawsuit against Caesars alleges rough treatment at bachelorette party at Harrah's
(New Jersey) -- Another person has filed suit against Caesars Entertainment, alleging rough treatment at the hands of security at Harrah’s Resort the night of a...
article Video: Lawyers release surveillance tape of woman struggling with cop in Harrah's casino holding cell
(New Jersey) -- The night began with six friends sharing a bottle of vodka as they toasted one’s pending nuptials in a VIP nightspot at Harrah’s in Atlantic...
article Woman Claims Alleged Brutality At Harrah's Casino
(New Jersey) -- A new federal lawsuit accuses Harrah's Casino of a pattern of excessive force by security guards,

9/3/2014

article Caesars Bondholders Sue Company Over 'Backroom' Deal
(New York) -- Caesars Entertainment Operating Co. was hit by another investor lawsuit Wednesday, this time by bondholders that say the casino giant recently worked out a...

8/28/2014

article Struggling Caesars in talks to restructure debt
(New York) -- Troubled Caesars Entertainment, America’s largest casino chain, is in talks with its senior creditors to restructure it massive debt load, The Post...

8/27/2014

article Caesars Cuts Deal With Trustee
(New York) -- Caesars Entertainment has reached a deal with the trustee of first-lien bonds that could result in delay of a potential notice of default. Meanwhile,...

8/20/2014

article STUTZ: Caesars works to upgrade balance sheet, but analysts unimpressed
(Las Vegas) -- A leading gaming executive was asked on background a few months ago if he understood Caesars Entertainment Corp.’s financial maneuverings to...

8/19/2014

article A Peek at the $1.5 Million Caesars Race & Sports Book
(Las Vegas) -- Behind plywood claiming "Others Implode. Icons Reinvent," guests can monitor the creation of the new Race & Sports Book Bar at Caesars...

8/15/2014

article Caesars Atlantic City robbers spent $50k on weed; Bellagio Bandit loves spit shield
(Atlantic City) -- The gang that robbed Caesars Atlantic City spent their ill-gotten gains on sneakers, bling and hydroponic marijuana. Eight people have now been...

8/14/2014

article Alleged Caesars robbers bought designer watches, sneakers, hydroponic marijuana
(Atlantic City) -- Money stolen from an Atlantic City casino was used to buy designer watches, sneakers and a large amount of hydroponic marijuana, State Police said...

8/13/2014

article Eight now charged in connection with Caesars casino robbery
(New Jersey) -- Izyiah Plummer had been tasked with security at an Atlantic City casino. But less than two weeks after he was fired at Caesars Atlantic City on July 9,...

8/12/2014

article Caesars Makes Deal to Reduce Debt by $548 Million
(New York) -- Caesars Entertainment Corp. (CZR:US), the casino operator with more than $20 billion of obligations (CZR:US), said it reached an agreement with bondholders...
article Caesars to Refinance Debt of Key Subsidiary
(New York) -- Caesars Entertainment Corp. said it has reached an agreement to reduce a key subsidiary's debt by $548.4 million and cut interest expenses by $34...

8/11/2014

article Caesars’ CEO Loveman Says No Qualified Bidders for Revel
(Atlantic City) -- Gary Loveman, chief executive officer of Caesars Entertainment Corp. (CZR), said no qualified bidders have emerged for the bankrupt Revel hotel and...
article Goodman says Caesars creator not part of mob
(Las Vegas) -- Oscar Goodman faced a riveting question raised by one of Jay Sarno’s sons: “Was my father in the mob?” Freddie Sarno said he’s...
article Caesars earnings suffer big-time despite Linq boost
(Las Vegas) -- Caesars Entertainment, the Las Vegas-based casino and resort giant, announced its second-quarter earnings today.
article Caesars happy with High Roller but mum on debt
(New York) -- Caesars Entertainment Corp. officials were happy to discuss the company’s second quarter results Monday, including improvements in the Las Vegas...
article Caesars Losses Double Amid Creditors' Fight
(New York) -- UBS's Sri Rajagopalan and Credit Suisse's Joel Simkins discuss Caesars Entertainment's debt position and the future of the Revel hotel and...
article Caesars Posts Wider Loss on Higher Interest Expenses
(New York) -- Caesars Entertainment Corp., the casino company that’s battling its creditors in court, said its second-quarter loss more than doubled, in part...

8/5/2014

article Caesars Entertainment files suit against bond holders
(New York) -- Caesars Entertainment Corp. filed a lawsuit Tuesday in New York against a group of the company’s institutional investors, claiming the bond holders...
article Caesars Entertainment, creditors trade lawsuits
(New York) -- Caesars Entertainment’s ongoing financial troubles escalated this week with two lawsuits, one from the casino company alleging that some creditors...
article Caesars Hedge Fund Debt Battle Triggers Dueling Lawsuits
(New York) -- Negotiations between Caesars Entertainment Corp. and noteholders challenging efforts to restructure $12.7 billion in debt spilled into court, as the casino...
article Caesars Said to Consider Debt Plan Offered by Creditors
(New York) -- Caesars Entertainment Corp. (CZR), the casino operator with $23 billion in obligations, is assessing a proposal from senior bondholders to cut debt at its...
article Caesars, Bondholder Group Enter a Bruising Endgame
(New York) -- Casino giant Caesars and a group of its creditors traded competing lawsuits over the company's plans to rework its more than $20 billion debt load.

8/4/2014

article Wynn remembers Caesars’ opening
(Las Vegas) -- The night Caesars Palace opened, Aug. 5, 1966, Steve Wynn remembers getting a room so awful “it might have been used for political prisoners....
article Is Caesars on the Road to Restructuring?
(New York) -- Caesars Entertainment has taken steps in recent weeks that signal it’s poised for a massive debt restructuring that will saddle creditors with steep...

8/2/2014

article Caesars Said to Negotiate With Unit’s Senior Bondholders
(Wall Street) -- Advisers to a group of senior bondholders that owns debt in a unit of casino company Caesars Entertainment Corp. (CZR) have entered into talks to...

7/30/2014

article Caesars installs separate management in operating entity
(Las Vegas) -- Caesars Entertainment Corp. continued its efforts to address its gaming industry-high $23 billion in long-term debt Wednesday by installing separate...

7/29/2014

article Is There Any Hope for Caesar's Ahead of Its Second Quarter Earnings Release?
(New York) -- Caesars Entertainment (NASDAQ: CZR ) , which releases its second-quarter 2014 earnings in early August, needs to show incredibly solid earnings in order to...

7/26/2014

article Caesars wins Illinois officials' support for refinancing deal
(Illinois) -- Caesars Entertainment Corp. won approval for a $1.75 billion refinancing from Illinois casino regulators over the objections of some bondholders.

7/24/2014

article Caesars Wins Illinois Officials’ Support for Refinancing
(Illinois) -- Caesars Entertainment Corp. (CZR:US) won approval for a $1.75 billion refinancing from Illinois casino regulators over the objections of some bondholders.

7/11/2014

article Caesars Unit Said to Tap Kirkland & Ellis to Lead Talks
(New York) -- Caesars Entertainment Corp. (CZR)’s largest unit hired law firm Kirkland & Ellis LLP to advise the casino operator on how to reorganize its $17.4...

7/10/2014

article Don't Hail Caesars Yet For Its Asia Breakthrough In Korea
(South Korea) -- Caesars Entertainment missed out on the Asia boom and has paid a heavy price. The company, whose flagship Caesars Palace became synonymous with Las...

7/7/2014

article Caesars to host Stanley Cup, NHL champs later this month
(Atlantic City) -- The Stanley Cup will again make an appearance in Atlantic City, courtesy of the Los Angeles Kings. The Cup will make appearances on Thursday, July 17...
article Caesars, already swimming in debt, headed toward the deep end
(Las Vegas) -- When drowning in debt, most people know they shouldn’t splurge on a new mansion, buy a high-end sports car or drool over a 150-foot yacht.

7/6/2014

article Caesars, already swimming in debt, headed toward the deep end
(Las Vegas) -- When drowning in debt, most people know they shouldn’t splurge on a new mansion, buy a high-end sports car or drool over a 150-foot yacht.
article Editorial: Showboat closing / 'Massive transition'
(Atlantic City) -- The planned closing of the Showboat Casino Hotel will be an undeniably painful blow to its 2,100 employees, their families — and the region'...

7/5/2014

article Caesars to shutter Atlantic City casino
(Atlantic City) -- Casino contraction has hit Atlantic City for the second time this year as the parent company of Showboat Casino Hotel has announced it will close the...

7/3/2014

article Caesars Turnaround Odds Hobbled by Default-Swap Volumes
(New York) -- Caesars Entertainment Corp. (CZR)’s ability to negotiate a debt exchange that keeps it out of bankruptcy is being complicated by a surge in credit-...
press release Fitch Clarifies Comment on Caesars' Showboat Closure
(New York) -- Fitch Ratings released a comment last week on June 27, 2014 stating that the planned closure of Showboat is potentially a negative for Caesars...

7/1/2014

article $223 million LINQ Hotel & Casino to replace The Quad on Las Vegas Strip
(Las Vegas) -- Caesars Entertainment announced its newest property on Tuesday, unveiling The LINQ Hotel & Casino as the latest addition to its portfolio of Las Vegas...
article Caesars Entertainment to transform Quad into Linq Hotel & Casino
(Las Vegas) -- Caesars Entertainment announced today its newest property on the Strip, the $223 million Linq Hotel & Casino, a reimagination of the current Quad...
article Caesars to spend $223 million on revamping Quad, rebranding it as Linq hotel
(Las Vegas) -- Caesars Entertainment is linking — or is it linqing? — its Strip property to its recently opened retail and entertainment plaza. The company...

6/30/2014

press release Caesars Entertainment Announces Extension of Early Tender Time and Expiration Time for Tender Offers for Caesars Entertainment Operating Company, Inc.'s Debt Securities
(Las Vegas) -- Caesars Entertainment Corporation ("Caesars") (CZR) announced today that its subsidiary, Caesars Entertainment Operating Company, Inc. (the...

6/27/2014

article Caesars Closes Casino in Atlantic City as Revenue Slides
(Wall Street) -- Caesars Entertainment Corp. (CZR), the largest operator of U.S. casinos, will shutter its Showboat property in Atlantic City to reduce capacity in the...

6/26/2014

article Caesars CEO eyes debt deal, says can finance Japan foray
(Japan) -- Caesars Entertainment Corp will likely agree to a debt restructuring with bondholders within a year and should have no problem financing a foray into the...
article Caesars could raise more debt for Japan venture: Loveman
(Japan) -- Gary Loveman, chief executive of Las Vegas-based casino operator Caesars Entertainment Corp, has told Bloomberg News that a Japan gaming resort would require...

6/23/2014

article Ceasars Default Notice Alters Shareholder Odds
(Wall Street) -- Caesars Entertainment Corporation's recent default notice makes its common stock more of a gamble than the crap tables. As written in the article,...

6/21/2014

article Atlantic Club Sold by Caesars
(Atlantic City) -- The Atlantic Club Casino has been sold by a subsidiary of Caesars Entertainment to a Florida company that is reportedly eyeing the property for use as...

6/17/2014

article Caesars extends offer to purchase $791.8 million in long-term debt
(New York) -- Caesars Entertainment Corp., extended by more than a week an offer for investors to purchase $791.8 million in the company’s long-term debt.
article Casino battle royale brewing over Caesars sell-off plan
(New York) -- The high-stakes battle between hedge-fund players Leon Black and David Tepper is coming to a head. Tepper’s Appaloosa Management and a group of...

6/12/2014

article Casino Owner Caesars Redefines Itself, but Still Has Mountain of Debt
(New York) -- Caesars Entertainment, the owner of several casinos, is taking a page from the Dynegy playbook. That is not meant as a compliment.

6/11/2014

article Could This Be the Start to Caesars' Comeback?
(USA) -- Caesars Entertainment's (NASDAQ: CZR) first-quarter 2014 earnings were not promising. With casino revenue down over 8% compared to the first quarter of 2013...

6/10/2014

article Caesars Entertainment Corporation: 5 Year Outlook
(Las Vegas) -- Caesars Entertainment Corp (NASDAQ: CZR) is one of the most established casino operators in the United States. It saw remarkable growth over the course of...
article Caesars Receives Default Notice from Second-lien Noteholders
(New York) -- The second-lien bondholders who served Caesars Entertainment operating unit with a notice of default on Friday, June 6 have brought the casino giant one...

6/8/2014

article Caesars Receives Notice of Default From Bondholder-Led Group
(New York) -- Bondholders sent a unit of Caesars Entertainment Corp. a notice of default, intensifying a battle with the largest owner of casinos in the U.S.

6/7/2014

article Caesars Entertainment Hits Back Against Allegations of Default by Junior Bondholders
(Wall Street) -- When the chips are down everyone begins to focus acutely on the odds stacked up against them, whether sitting at the gaming table or, indeed, in life....

6/6/2014

article Caesars fires back after bondholders file notice of default
(Las Vegas) -- Caesars Entertainment Corp. struck back Friday against a group of 13 bondholders that filed a notice of default against the casino giant, calling the...
article The Fight Between Caesars and Its Creditors
(Las Vegas) -- Bondholders sent a unit of Caesars Entertainment a notice of default, intensifying a battle with the largest owner of casinos in the U.S. Chris Palmeri...

5/28/2014

article Apollo Uses Wedge Maneuver to Save Caesars
(New York) -- In its efforts to salvage the $3.3 billion-plus it has invested in Caesars Entertainment Corp. CZR -1.32% , Apollo Global Management APO +0.20% LLC is...

5/24/2014

article Caesars pitches Harriman casino to more supportive crowd
(New York) -- Supportive comments outnumbered criticisms on Thursday as the world's largest casino business pitched its plans for a $750 million resort near the...

5/20/2014

article Caesars completes sale of Harrah’s New Orleans
(Louisiana) -- Caesars Entertainment Corp. completed sale Tuesday of Harrah’s New Orleans to Caesars Growth Partners after receiving approval from the Louisiana...

5/14/2014

article Caesars exec Jason Gastwirth: ‘We’ve built a great show and a great business with Britney’
(Las Vegas) -- When they booked Britney Spears to play just a shade less than 100 shows in two years in Axis Theater at Planet Hollywood, Caesars Entertainment officials...

5/13/2014

article Caesars and the $450 Million 'And'
(Wall Street) -- Obviously my favorite financial news story so far this week is The Tale of the $450 Million 'And.' This is the story of Caesars Entertainment,...

5/12/2014

article Caesars' Earnings Look Terrible, but You Might Want to Bet on This One Highlight
(Las Vegas) -- Caesars Entertainment (NASDAQ: CZR), which released its first-quarter 2014 earnings on May 7, is not looking so good. With casino revenue down over 8%...

5/10/2014

article Caesars looking to cut costs, could close casino
(Atlantic City) -- Atlantic City’s largest casino operator is acknowledging that it is exploring cost-cutting measures, including the possibility of closing a...

5/9/2014

article Caesars' CEO: Atlantic City Has Too Many Casinos
(Atlantic City) -- The CEO of Caesars Entertainment says Atlantic City has too many casinos and one or more of them needs to close. During an earnings conference call on...

5/8/2014

article Caesars boss: More Atlantic City casinos should close
(Atlantic City) -- Caesars Entertainment is the biggest casino operator in Atlantic City, and CEO Gary Loveman at yesterday's quarterly investor conference call...
article Report: Caesars Won't Rule Out Closing Atlantic City Casino
(Atlantic City) -- Although Caesars didn’t say that a casino in Atlantic City would close, there is a report that the firm is “weighing” the idea of...

5/7/2014

article Caesars Weighs Closing Atlantic City Casinos
(Atlantic City) -- Caesars Entertainment Corp., the largest operator of casinos in Atlantic City, New Jersey, is looking for ways to reduce capacity in the struggling...
article Caesars Entertainment restructures debt to avoid $1 billion in 2015 payments
(Las Vegas) -- Caesars Entertainment Corp. announced a multipronged debt restructuring effort to deal with the most pressing portion of the company’s gaming...
article Caesars debt refi buys time but undercuts junior lenders
(Wall Street) -- The nation’s largest casino chain late Tuesday announced a series of moves to deal with its onerous debtload and gain some breathing room. Those...
article Caesars loss widens as revenue dips
(Wall Street) -- Caesars Entertainment Corp.'s first-quarter loss widened as the casino operator recorded a drop in revenue amid continued softness in parts of the...
article Caesars Loss Widens as Revenue Slips
(New York) -- Caesars Entertainment Corp.'s (CZR) first-quarter loss widened as the casino operator recorded a drop in revenue amid continued softness in parts of...
article Caesars sees quarterly net loss increase 78 percent
(Wall Street) -- Caesars Entertainment Corp. increased its net loss 78 percent in the first quarter, the casino operator said Wednesday.
article Hedgie Tepper plans lawsuit to halt Caesars sale
(New York) -- David Tepper — this year’s top-paid hedge fund manager — is preparing to sue Caesars Entertainment for allegedly trying to avoid paying...

5/6/2014

article Las Vegas Turf Wars: Casinos Gamble on Thrill Rides
(Las Vegas) -- For decades, Las Vegas casinos have been trying to one-up each other with high-end restaurants, mega clubs, and even thrill rides -- all in a bid to lure...
article Caesars Sells Minority Stake Stripping Debt Guarantees
(Wall Street) -- Caesars Entertainment Corp. (CZR) is selling a minority interest in its largest unit, a step that removes guarantees by the casino company on much of...
article Caesars Tries to Strengthen Subsidiary Through Refinancings
(Wall Street) -- Caesars Entertainment Corp. announced a series of refinancings and other transactions for a key subsidiary, another step in the casino giant's...

5/5/2014

article Caesars Entertainment rewards program targets local residents
(Atlantic City) -- Hoping to draw the local residents who frequented the recently shuttered Atlantic Club Casino Hotel, Caesars Entertainment is rolling out a Local...
article A Caesars’ Debt Revamp to Cost Creditors, Moody’s Says
(Wall Street) -- Caesars Entertainment Corp. (CZR), controlled by Apollo Global Management LLC and TPG Capital, will have to restructure its debt and may leave some...

4/26/2014

article Caesars Windsor Not about to Close Says Caesars Head Office
(Canada) -- After the recent temporary closure of Caesars Windsor Casino in connection to the contract signing with the casino workers' union, and the recent...

4/25/2014

article Caesars faces criticism for New York expansion plan
(New York) -- The head of the Assembly Tourism and Gaming Committee is calling Atlantic City's largest casino operator hypocritical for its decision to pursue...
article Caputo blasts Caesars' New York casino announcement as "hypocrisy"
(New Jersey) -- A state lawmaker is calling Caesars Entertainment’s announcement to build a resort-like casino in neighboring New York pure “hypocrisy.”
article The bets are in
(New York) -- Caesars Entertainment Corporation, which operates 53 properties around the world, announced this week that it plans to pursue a license to develop a resort...
article Caesars ‘remains commited’ to Windsor despite sliding revenues
(Ontario) -- Caesars Entertainment’s corporate team in Las Vegas said Thursday it “remains committed” to the casino in Windsor despite declining...

4/24/2014

article Caesars Brings Neteller to New Jersey and Nevada Sites
(New Jersey) -- The online gaming market’s expansion in the United States has seen its fair share of issues. Many of them stem from the legal and political waters...
article Caesars Entertainment Among Firms Seeking Casino Licenses in New York State
(New York) -- Nearly two dozen groups have paid a $1 million application fee for the chance to open a casino in upstate New York, according to information released...

4/23/2014

article Caesars planning expansion to New York
(New York) -- Atlantic City’s largest casino operator wants to expand to New York. Caesars Entertainment announced Wednesday that it has submitted its application...

4/22/2014

article Caesars to bid on one of four New York gaming licenses
(New York) -- Caesars Entertainment Corp. will bid on one of four gaming licenses available for New York with the hopes of building a $750 million hotel-casino complex...

4/21/2014

article Caesars Growth Unit Raises $675 Million to Fund Asset Purchases
(Wall Street) -- Caesars Entertainment Corp. (CZR) sold $675 million of secured bonds as the casino operator struggling under a $23.3 billion debt load seeks to distance...

4/16/2014

article Caesars says it has sold Atlantic City Country Club
(New Jersey) -- Caesars Entertainment Inc. has sold the Atlantic City Country Club to a family-owned South Jersey golf club operator.

4/14/2014

article Bondholders, Buyout Firms Square Off in Caesars Showdown
(Las Vegas) -- A heavyweight fight could soon break out over Caesars Entertainment as the controlling shareholders of the casino company, private-equity giants Apollo...

4/12/2014

article Financial Bigs Face Off in the Ring at Caesars
(Las Vegas) -- A heavyweight fight could soon break out over Caesars Entertainment as the controlling shareholders of the casino company, private-equity giants Apollo...

4/10/2014

article Caesars aims charter flights at Montreal market
(Atlantic City) -- Caesars Entertainment, Atlantic City’s largest casino operator, will tap the Montreal market for gambling customers by combining hotel packages...

4/8/2014

article S&P lowers corporate credit ratings on Caesars, cites outlook as ‘negative’
(Wall Street) -- Standard & Poor’s rating services lowered its corporate credit ratings on Caesars Entertainment Corp., painting a dire picture for the casino...
article S&P lowers rating on Caesars Entertainment
(Wall Street) -- Standard & Poor's Ratings Services on Tuesday lowered its rating for Caesars Entertainment Corp. and said that it is more likely that the casino...

4/6/2014

article Vegas Wire: City's big wheel starts turning at Caesars' Linq
(Las Vegas) -- Lisa McPherson was in town for a cousin’s wedding when she suggested to family members Monday they should ride the High Roller observation wheel...

4/4/2014

article Another group of Caesars Entertainment Corp. lenders, bondholders wants details of company affiliate
(Wall Street) -- A second group of Caesars Entertainment Corp. lenders and bondholders said it wants to unravel the deals used to create the company’s growth-...

3/30/2014

article Services Sector Losers: Caesars Entertainment (NASDAQ:CZR)
(USA) -- Caesars Entertainment Corp. (NASDAQ:CZR) fell 7.4 percent to its lowest price since December after the casino operator said it will offer 7 million common...

3/28/2014

article Caesars Falls After Selling $148 Million in Stock
(Las Vegas) -- Caesars Entertainment Corp. fell 7.4 percent to its lowest price since December after the casino operator said it will offer 7 million common shares,...

3/27/2014

article Harrah's casino in Tunica, Miss., to close June 2
(Mississippi) -- The long decline of what was once the nation's third-largest casino market was underlined Wednesday when the largest casino in Mississippi's...
article Harrah's closing Tunica casino; 1,300 employees affected
(Mississippi) -- Caesars Entertainment Corp. plans to close Harrah’s Tunica casino on June 2, citing “declines in business levels in the area stemming from...

3/26/2014

article Caesars Closes Mississippi Casino in Sign of Saturation
(Mississippi) -- Caesars Entertainment Corp. said it will close its Harrah’s casino in Tunica, Mississippi, eliminating 1,300 jobs because of declining business...
article Caesars to close money-losing Harrah’s Tunica casino in Miss.
(Mississippi) -- Caesars Entertainment Corp. said Wednesday it would close one of its three casinos in Tunica, Miss. on June 2, saying “persistent declines in...
article Harrah's Casino in Tunica closing costs 1,300 jobs
(Mississippi) -- Caesars Entertainment announced in a press release Wednesday that it will close Harrah's Tunica on June 2. This is one of three casinos Harrah's...
article Harrah's Tunica closing; two South Mississippi casino projects face deadlines
(Mississippi) -- Caesars Entertainment announced Wednesday it is closing one of its three casinos in Tunica. Harrah's Tunica will close June 2, Caesars Entertainment...
article Harrah’s Tunica Casino To Close
(Mississippi) -- Harrah’s Casino in Tunica will close June 2 possibly leaving as many as 1,300 people without jobs. “After exploring every other viable...
article Caesars Debt Holders’ Law Firm Questions Asset Transfers
(Wall Street) -- Caesars Entertainment Corp. said a law firm representing some debt holders is challenging the casino company’s transfer of properties to...
article Caesars Unit Said to Seek $1.2 Billion in Loans for Casino Deal
(Wall Street) -- An affiliate of Caesars Entertainment Corp., the most indebted casino operator, is seeking $1.2 billion in loans to purchase four casinos from the...
article Caesars’ plan to borrow $1.3 billion for asset shift hits opposition
(Wall Street) -- Caesars Entertainment Corp. said Wednesday a group of the company’s “unidentified note holders” want to kill off Caesars Growth...
press release Caesars Entertainment to Close Harrah's Tunica
(Mississippi) -- Caesars Entertainment Corporation (CZR) today announced it will close Harrah's Tunica. The property will cease operations on June 2, 2014. The...

3/25/2014

article Caesars' casinos in Atlantic City to go dark for Earth Hour Saturday
(Atlantic City) -- Some casinos in Atlantic City will shut off their exterior lighting and nonessential interior lighting to promote climate change awareness.

3/24/2014

article Caesars Wins Initial OK in South Korea
(South Dakota) -- A joint venture headed by Caesars Entertainment has won preliminary approval from the South Korean government to include a foreigners-only casino at a...

3/20/2014

article Gaming regulators OK Caesars’ plan to sell resorts to affiliate
(Las Vegas) -- State gaming regulators signed off Thursday on Caesars Entertainment Corp.’s plan to sell four of its resorts to the company’s Caesars Growth...

3/18/2014

article Caesars gains preliminary OK for $795 million South Korean hotel-casino
(South Korea) -- Caesars Entertainment has won preliminary approval from the South Korean government to build a $794.7 million hotel-casino complex near the country...
article Caesars receives approval for gaming at planned South Korean resort
(South Korea) -- A joint venture involving Caesars Entertainment Corp. gained initial approval from the South Korean government to add gaming as part of an integrated...
article South Korea is building casinos for Chinese tourists who can’t afford gambling in Macau anymore
(South Korea) -- South Korea is carving out a space for itself in Asia’s increasingly crowded gambling scene. Today Seoul granted preliminary approval to a...

3/17/2014

article Lippo, Caesars get green light to build casino on South Korean island
(South Korea) -- South Korea on Tuesday granted a preliminary casino licence to a Lippo Ltd <0226.HK> and Caesars Entertainment Corp venture to build a resort on...
article S. Korea opens casino market to foreign operator
(South Korea) -- The tourism ministry on Tuesday gave preliminary approval to a foreign casino operator to open a business in South Korea for the first time as part of...
article South Korea Approves Foreign-Run Casino to Lure Chinese Bettors
(South Korea) -- South Korea approved construction of its first foreign-owned casino as Asia’s fourth-largest economy tries to emulate Macau and Singapore in...

3/14/2014

article Caesar's Restructures Debt in Hopes For Japan, but Is It Too Late?
(Wall Street) -- Liquidity is important in the casino industry because it offers the ability to make large investment decisions quickly. For example, when the Japanese...
article Caesars Entertainment Selling Four Casinos to Affiliate
(Las Vegas) -- In order to free up capital with which to service its outstanding debt, Caesars Entertainment has agreed to sell four casinos — Bally’s Las...
article Caesars Entertainment Corp. Given New $17.00 Price Target at Barclays (CZR)
(Wall Street) -- Caesars Entertainment Corp. logoCaesars Entertainment Corp. (NYSE:CZR) had its price objective hosited by Barclays from $15.00 to $17.00 in a report...
article Imperial Capital Downgrades Caesars Entertainment Corp. to Underperform (CZR)
(Wall Street) -- Caesars Entertainment Corp. logoImperial Capital downgraded shares of Caesars Entertainment Corp. (NYSE:CZR) from an in rating to an underperform rating...

3/13/2014

article Taste of high-roller life at Caesars resorts
(Las Vegas) -- For the first time ever, Caesars Entertainment is making nearly 2,000 luxury suites and villas across its portfolio available for the general consumer.
article No ace in the hole for Caesars casinos
(Las Vegas) -- Perhaps the house doesn’t always win after all. Caesars Entertainment Corp. dealt investors a poor hand after market’s close Tuesday, when it...

3/12/2014

article Caesars Entertainment Corp 4Q loss widens following impairment charges, Atlantic City slump
(Las Vegas) -- Caesars Entertainment Corp. on Tuesday posted a large quarterly loss after taking a hefty impairment charge. The casino corporation said it took goodwill...

3/11/2014

article Caesars Entertainment reports $1.756 billion in quarterly loss on Atlantic city weakness
(Las Vegas) -- Caesars Entertainment Corp. said Tuesday it lost $1.756 billion in the fourth quarter due to deteriorating market conditions in Atlantic City, which...
article Caesars’ Loss Widens on More Writedowns of Casino Properties
(Las Vegas) -- Caesars Entertainment Corp. (CZR:US) said its net loss tripled in the fourth quarter, as the largest owner of U.S. casinos reported higher writedowns.

3/9/2014

article Caesars’ moves don’t ease Street’s debt worries
(Las Vegas) -- Nothing is simple when it comes to Caesars Entertainment Corp. Take last week’s announcement that the company is selling four casinos to its Caesars...

3/4/2014

article MEHAFFEY: Caesars Becoming Irrelevant in Las Vegas Poker Market
(Las Vegas) -- There is a rumor floating around Las Vegas that Caesars Palace will close its poker room after the World Series of Poker Circuit event leaves town later...

3/3/2014

article Caesars selling 4 casinos for $1.8 billion in debt restructuring
(Las Vegas) -- Caesars Entertainment is selling four properties to a separate unit that it controls for about $1.8 billion as it restructures its debt.
article Caesars sells 4 properties, including 3 on Las Vegas Strip, to subsidiary
(Las Vegas) -- Caesars Entertainment Corp. said Monday it’s selling four properties — three on the Strip and Harrah’s New Orleans — to its...
article Caesars Sells Casinos to Affiliate for $2.2 Billion
(Las Vegas) -- Caesars Entertainment Corp. (CZR:US), largest owner of casinos in the U.S., will sell four properties to an affiliate for $2.2 billion, freeing up cash as...

2/25/2014

article EPA to honor Caesars for program to reduce greenhouse gas emissions
(Las Vegas) -- While Caesars Entertainment continues to expand its properties around the globe, it has reduced in one crucial area – greenhouse gas emissions.

2/24/2014

article Caesars Palace prevails in court battle over live entertainment tax
(Nevada) -- The Nevada Supreme Court has ruled that Caesars Palace does not have to pay an additional $797,790 on its live entertainment tax on shows at the Colosseum on...

2/17/2014

article Sen. complains about Caesars
(Atlantic City) -- A state senator says the company that bought the former Atlantic Club Casino Hotel wants to make sure it never reopens as a casino.

2/15/2014

article Whelan: Caesars meddling in Atlantic Club future
(Atlantic City) -- A state senator says the company that bought the former Atlantic Club Casino Hotel wants to make sure it never reopens as a casino.

2/14/2014

article Caesars’ interactive subsidiary buys fourth social gaming business
(Las Vegas) -- Caesars Entertainment’s interactive subsidiary has acquired an Israeli-based social gaming business, the company’s fourth deal in the past few...
article Whelan wants regulators to prohibit Caesars from restricting Atlantic Club's use as casino
(Atlantic City) -- A state senator is calling on New Jersey gambling regulators to stop the largest casino operator in the U.S. from ensuring that the former Atlantic...

2/11/2014

article Caesars subsidiary hires investment bank to restructure debt
(Las Vegas) -- A subsidiary of Caesars Entertainment Corp. has hired an investment bank to restructure a portion of the company’s gaming industry-high $23 billion...

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