Caesars Entertainment and Caesars Entertainment Operating Co. Provide Update on Restructuring

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Caesars Entertainment (CZR) Reaches Agreement with Major CEOC Creditor Groups

September 27, 2016 6:35 AM EDT

Caesars Entertainment Corporation (NASDAQ: CZR) and Caesars Entertainment Operating Company, Inc. ("CEOC") and its Chapter 11 debtor subsidiaries today announced that they have received confirmation from representatives of CEOC's major creditor groups of those groups' support for a term sheet that describes the key economic terms of a proposed consensual chapter 11 plan for the Debtors. Based on discussions with these representatives, Caesars Entertainment and CEOC are optimistic that the support received for the proposed consensual plan will allow CEOC to obtain the required creditor votes to confirm the plan. Confirmation of the plan would facilitate a... More