Some high-profile creditors of Caesars Entertainment Operating Co Inc are reported to be in talks to clinch a restructuring deal.
The firm – an operations unit of casino firm Caesars Entertainment Corp – entered voluntary bankruptcy in the U.S. in January.
Bloomberg Business on Thursday said that Paulson & Co, a hedge fund firm controlled by billionaire John Paulson; and Canyon Partners, along with Soros Fund Management; were among debt holders involved in the latest talks.
Caesars has been trying to win creditor support for a plan to cut lower-ranking debt, allow the parent to retain a stake in the operating unit and halt investor lawsuits against the Caesars group’s private-equity owners, Apollo Global Management LLC and TPG Capital.
None of the parties have commented on the reported talks, added Bloomberg.
Mark Frissora – a former chief executive of rental car firm Hertz Global Holdings Inc – was recently confirmed as president and chief executive of Caesars Entertainment Corp with effect from July 1. The move completes a management shake up announced in February.
Jun 22, 2018Casino investor Landing International Development Ltd has told GGRAsia it considers it has a “legally-binding contract” for land in the Metro Manila area (pictured) in the Philippines for a...
Jun 22, 2018
Year-on-year decline in overall turnover recorded in 2017 by South Korea’s foreigner-only casinos