Caesars Entertainment Corp. said on Friday it has garnered enough support from key creditors to carry out its $18.4 billion debt restructuring plan for its operating unit, which will soon file for bankruptcy.
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The state’s largest casinos lost $743.7 million in the 2014 fiscal year, cutting their losses in half from the previous year.
NEW YORK — A failure by ISDA’s Credit Determinations Committee to agree whether Caesars Entertainment entered into a technical default in December has resulted in the convening of an external arbitration panel for the first time in six years, and has added to concerns that credit default swaps have begun to unduly influence lender activity.
Atlantic City has endorsed steep budget cuts but rejected the idea of a state-appointed emergency manager as part of the struggling New Jersey gambling hub’s recovery plan.
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