Jul 09, 2015 Newsdesk Latest News, Top of the deck, World
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.
Caesars Entertainment says it has a foothold in South Korea via a planned casino project. It has also expressed a desire to enter the Philippines market for casino gaming.
Mar 11, 2019
Jan 14, 2019
Apr 01, 2023
Mar 31, 2023
Apr 01, 2023Macau’s casino gross gaming revenue (GGR) was up 246.9 percent year-on-year in March, to just under MOP12.74 billion (US$1.58 billion). The March tally was up 23.4 percent month-on-month,...
Mar 31, 2023
(Click here for more)
”Efforts have pivoted to the construction of the hotel tower, with plans to launch a soft opening before the end of 2024 and a grand opening in 2025”
Casino investor LET Group
On the development of a casino hotel in Manila, the Philippine capital