Caesars offers another $1.6 billion to creditors of bankrupt unit
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Caesars Entertainment (CZR), Sponsors Propose to Increase Contributions to CEOC's Restructuring
September 21, 2016 3:49 PM EDTCaesars Entertainment Corporation (NASDAQ: CZR) today announced that it, along with affiliates of Apollo Global Management, LLC and TPG Capital, L.P. (together, the "Sponsors"), have proposed an enhancement to their contributions to Caesars Entertainment Operating Company, Inc.'s current restructuring plan. The proposed increase follows discussions with major creditor constituencies of CEOC and its Chapter 11 debtor subsidiaries (collectively, the "Debtors") in an effort to reach a consensual debt restructuring agreement with all creditor groups in CEOC's restructuring. Caesars Entertainment believes this proposal meets the requirements of the holders of CEOC's second lien... More
