{"id":197,"date":"2024-06-17T22:57:24","date_gmt":"2024-06-17T19:57:24","guid":{"rendered":"https:\/\/newcasinonodepositbonuscodes.icu\/2024\/06\/17\/caesars-entertainment-strikes-deal-to-restructure-5-billion-in-debt\/"},"modified":"2024-06-20T17:02:40","modified_gmt":"2024-06-20T14:02:40","slug":"caesars-entertainment-strikes-deal-to-restructure-5-billion-in-debt","status":"publish","type":"post","link":"https:\/\/newcasinonodepositbonuscodes.icu\/2024\/06\/17\/caesars-entertainment-strikes-deal-to-restructure-5-billion-in-debt\/","title":{"rendered":"Caesars Entertainment Strikes Deal to Restructure 5 Billion in Debt"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/z69H7gSg4ZA\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Harrahs Entertainment has reached an accord with its insolvent subsidiary, Caesars Entertainment Operating Company (CEOC), to revamp a substantial $5 billion portion of debt. This pact signifies a crucial move toward settling the financial turbulence that has troubled the gaming behemoth for a considerable period.<\/p>\n<p>CEOC declared bankruptcy in January 2015, burdened by an $18 billion debt burden. To address this, Caesars Entertainment and its acquisition division had been endeavoring to revise their merger contract since July 2016.<\/p>\n<p>The primary obstacle in this situation was a disagreement between CEOC&#8217;s lenders and its private equity investors, Apollo Global Management and TPG Capital Management. Allegations arose that these entities had stripped CEOC of its valuable holdings, leaving it in dire straits.<\/p>\n<p>Matters escalated in August when the possibility of a legal injunction became imminent. To avert this, Apollo and TPG consented to substantially diminish their ownership interest in Caesars from a dominant 66% to a mere 16%.<\/p>\n<p>This revised restructuring scheme paves the path for creditors to assume control, possessing a 70% share in the reorganized Caesars. Apollo and TPG, while maintaining a minority position, will be liberated from the legal disputes that have plagued them.<\/p>\n<p>The New York Times indicates that this arrangement is advantageous for junior bondholders, who are now poised to obtain a combination of cash, equity, and convertible securities. This package is estimated to be worth 66 cents on the dollar, a considerable increase from Caesars&#8217; prior proposition. <\/p>\n<p>Exhibited satisfaction with the advancements achieved and aspire to witness a swift resolution to this matter, despite recognizing that challenges remain,&#8221; conveyed Bruce Bennett, the legal representative for the consortium of subordinate debt holders. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Harrahs Entertainment has reached an accord with its insolvent subsidiary, Caesars Entertainment Operating Company (CEOC), to revamp a substantial $5 billion portion of debt. This pact signifies a crucial move toward settling the financial turbulence that has troubled the gaming behemoth for a considerable period. CEOC declared bankruptcy in January 2015, burdened by an $18 [&hellip;]<\/p>\n","protected":false},"author":36,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Caesars Entertainment Strikes Deal to Restructure $5 Billion Debt<\/title>\n<meta name=\"description\" content=\"Harrahs Entertainment and its bankrupt subsidiary, Caesars Entertainment Operating Company (CEOC), have reached an agreement to restructure a significant portion of CEOC\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/newcasinonodepositbonuscodes.icu\/2024\/06\/17\/caesars-entertainment-strikes-deal-to-restructure-5-billion-in-debt\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Caesars Entertainment Strikes Deal to Restructure 5 Billion in Debt\" \/>\n<meta property=\"og:description\" content=\"Harrahs Entertainment and its bankrupt subsidiary, Caesars Entertainment Operating Company (CEOC), have reached an agreement to restructure a significant portion of CEOC\" \/>\n<meta property=\"og:url\" content=\"https:\/\/newcasinonodepositbonuscodes.icu\/2024\/06\/17\/caesars-entertainment-strikes-deal-to-restructure-5-billion-in-debt\/\" \/>\n<meta property=\"og:site_name\" content=\"Unleash Your Inner Casino Pro | Licensed Games &amp; Latest News\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-17T19:57:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-20T14:02:40+00:00\" \/>\n<meta name=\"author\" content=\"Jacob &quot;Jax&quot; Phillips\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jacob &quot;Jax&quot; Phillips\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/newcasinonodepositbonuscodes.icu\/2024\/06\/17\/caesars-entertainment-strikes-deal-to-restructure-5-billion-in-debt\/\",\"url\":\"https:\/\/newcasinonodepositbonuscodes.icu\/2024\/06\/17\/caesars-entertainment-strikes-deal-to-restructure-5-billion-in-debt\/\",\"name\":\"Caesars Entertainment Strikes Deal to Restructure $5 Billion Debt\",\"isPartOf\":{\"@id\":\"https:\/\/newcasinonodepositbonuscodes.icu\/#website\"},\"datePublished\":\"2024-06-17T19:57:24+00:00\",\"dateModified\":\"2024-06-20T14:02:40+00:00\",\"author\":{\"@id\":\"https:\/\/newcasinonodepositbonuscodes.icu\/#\/schema\/person\/8a57caaf958e45196e9da690969a91cc\"},\"description\":\"Harrahs Entertainment and its bankrupt subsidiary, Caesars Entertainment Operating Company (CEOC), have reached an agreement to restructure a significant portion of CEOC\",\"breadcrumb\":{\"@id\":\"https:\/\/newcasinonodepositbonuscodes.icu\/2024\/06\/17\/caesars-entertainment-strikes-deal-to-restructure-5-billion-in-debt\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/newcasinonodepositbonuscodes.icu\/2024\/06\/17\/caesars-entertainment-strikes-deal-to-restructure-5-billion-in-debt\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/newcasinonodepositbonuscodes.icu\/2024\/06\/17\/caesars-entertainment-strikes-deal-to-restructure-5-billion-in-debt\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/newcasinonodepositbonuscodes.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Caesars Entertainment Strikes Deal to Restructure 5 Billion in Debt\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/newcasinonodepositbonuscodes.icu\/#website\",\"url\":\"https:\/\/newcasinonodepositbonuscodes.icu\/\",\"name\":\"Unleash Your Inner Casino Pro | Licensed Games &amp; Latest News\",\"description\":\"Indulge in the thrill of licensed online gambling through our up-to-date news, comprehensive reviews, and expert articles. 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