{"id":215,"date":"2024-06-19T07:24:02","date_gmt":"2024-06-19T04:24:02","guid":{"rendered":"https:\/\/dreamscasinonodepositbonuscodes.icu\/2024\/06\/19\/caesars-entertainment-reaches-5-billion-debt-deal-paving-way-for-bankruptcy-resolution\/"},"modified":"2024-06-20T17:06:16","modified_gmt":"2024-06-20T14:06:16","slug":"caesars-entertainment-reaches-5-billion-debt-deal-paving-way-for-bankruptcy-resolution","status":"publish","type":"post","link":"https:\/\/dreamscasinonodepositbonuscodes.icu\/2024\/06\/19\/caesars-entertainment-reaches-5-billion-debt-deal-paving-way-for-bankruptcy-resolution\/","title":{"rendered":"Caesars Entertainment Reaches $5 Billion Debt Deal, Paving Way for Bankruptcy Resolution"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/PJSCQGpKhRU\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>A major turning point has been reached by Caesars Entertainment in addressing the substantial debt held by its insolvent subsidiary, Caesars Entertainment Operating Company (CEOC). An accord worth $5 billion has been reached with a majority of CEOC&#8217;s lenders, potentially clearing the path for a resolution to the protracted bankruptcy ordeal.<\/p>\n<p>CEOC sought bankruptcy protection in January 2015, weighed down by a massive $18 billion debt load. The proposed restructuring involved an intricate merger arrangement between the parent company, Caesars Entertainment, and its acquisition entity, Caesars Acquisition Company. This plan, however, encountered significant opposition from CEOC&#8217;s creditors, especially those holding junior bonds.<\/p>\n<p>At the heart of the contention were claims against Apollo Global Management and TPG Capital Management, the private equity groups that acquired Caesars in a leveraged buyout. Lenders alleged that these firms stripped assets from CEOC, further deteriorating its financial standing. This ignited prolonged legal disputes, threatening to derail the entire restructuring endeavor.<\/p>\n<p>Confronted with mounting pressure and the specter of lengthy court proceedings, Apollo and TPG have consented to relinquish their controlling interest in Caesars, reducing it to 16%. This concession was pivotal in securing creditor support.<\/p>\n<p>As per the revised bankruptcy plan, creditors will now hold a majority stake of 70% in the reorganized Caesars. Apollo and TPG, while retaining a minority interest, will be protected from further legal claims. This agreement represents a significant victory for the creditors, particularly the junior bondholders who will receive a considerably larger payout than initially proposed by Caesars.<\/p>\n<p>This agreement signals a pivotal moment in the CEOC bankruptcy case, offering a ray of hope for a resolution after years of ambiguity. While obstacles persist, this deal marks a substantial stride towards a viable future for the casino titan. <\/p>\n<p>Received inspiration from the advancements achieved thus far, although a considerable journey remains. We maintain optimism for a settlement that proves advantageous to all parties concerned,&#8221; stated Bruce Bennett, legal counsel acting on behalf of the junior bondholder group. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>A major turning point has been reached by Caesars Entertainment in addressing the substantial debt held by its insolvent subsidiary, Caesars Entertainment Operating Company (CEOC). An accord worth $5 billion&hellip;<\/p>\n","protected":false},"author":48,"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 $5 Billion Deal to Ease Debt Burden<\/title>\n<meta name=\"description\" content=\"Could this be the light at the end of the tunnel? Caesars Entertainment has reached a major agreement with lenders to restructure a whopping $5 billion in debt, potentially ending a long and tumultuous bankruptcy process.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dreamscasinonodepositbonuscodes.icu\/2024\/06\/19\/caesars-entertainment-reaches-5-billion-debt-deal-paving-way-for-bankruptcy-resolution\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Caesars Entertainment Reaches $5 Billion Debt Deal, Paving Way for Bankruptcy Resolution\" \/>\n<meta property=\"og:description\" content=\"Could this be the light at the end of the tunnel? 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