Caesars Restructuring in Greater Doubt

Caesars Entertainment Corp may be closer to joining its operating unit in bankruptcy after a federal judge refused to protect the casino company from creditor lawsuits seeking up to $11 billion, sending its stock plummeting.

U.S. Bankruptcy Judge Benjamin Goldgar in Chicago denied a Caesars request to stay four lawsuits by hedge fund creditors who are owed billions of dollars by Caesars' operating unit, Caesars Entertainment Operating Co Inc.

The operating unit filed for Chapter 11 bankruptcy this year and the hedge funds allege Caesars guaranteed its debts.

In late trading, the stock was down 34 percent at $5.31 on Nasdaq.

Ref: Reuters

Yea, it's been a crazy week for CZR, a huge jump,27% the other day and straight downhill from there, including close to the 40% toady to close at 4 3/4.

I really am eager to see what the end result will be in all this. I'd love to see them split into a few different co.s and give the strip more than two choices(relatively).

I sense another round of resort fee increases coming soon

Let Rome burn and split that puppy up. Maybe you can draw and quarter Gary Loveman, who I'm sure will walk away with a huge golden parachute from the mess he created.

I would love to see the company liquidate assets, ending with a half dozen or more new casino owners in town. The government should not mandate this, however.

Per the LVA the Flamngo is now charging $10 for one of theirpools

Is that to buy it (at foreclosure sale) or to rent it for the day since you are their "guest".

I gotta try that at my house next time I have a guest come over and uses the pool.

Me: That'll be $10."

Guest : "But I'm a guest, aren't I?"

ME: "But this is the pool of Caesar and you must pay rent unto Caesar the things that are Caesar's"


ST

P.S. Forgive me, it's Friday and I really need a day off .............

Another example of the "bean counters" ruining Vegas. Tune in next week (and the following weeks) for the next asinine fee.

I fear MGM buying CET, that would bad news for everyone, if Wynn bought CET I would be okay with that.

I think Wynn would only be interested in Caesar's Vegas. Caesars AC has gone way downhill & many of the Harrahs aren't that great. He seems to like only high end properties.