Tag Archives: Bankruptcy
US –Caesars commences Chapter 11 despite fallout with junior creditors
Caesars Entertainment Operating Company, a subsidiary of Caesars Entertainment, is moving forward to implement its previously announced financial restructuring plan. The operator said that the plan, which has received support from more than 80 per cent of first-lien noteholders, is intended to significantly reduce long-term debt and annual interest payments, while providing for significant recoveries…
US – Analysts speculate over Caesars bankruptcy filing
Caesars Entertainment has changed a debt document allowing senior bondholders to get a lien on the casino operator’s cash as it negotiates a restructuring of $18.3bn of debt. The move is seen by some analysts as increasing the likelihood that the Las Vegas-based operator could file for a bankruptcy as soon as January. Speaking to…
Spain – Grand Casino Cartagena files for bankruptcy
Eight years after opening, the Grand Casino Cartagena, in the Mediterranean region of Spain, has filed for bankruptcy after a continuous decline in its revenues and visitors. The casino’s owners; Grupo Gran Madrid, which also runs casinos in Torrelodones and Malaga, have filed for bankruptcy in the Mercantile Number Two of Murcia. The property’s turnover…
