Vegas Free-for-All - Caesars To Be Probed

Caesars To Be Probed

malibber2

Feb 2, 2015
9:59am

Quote

Creditors led by the Appaloosa Management hedge fund have said Caesars "plundered" billions of dollars in choice assets from the operating unit, including Planet Hollywood and The Linq in Las Vegas. The creditors asked for the appointment of an examiner to investigate the operating company's deals dating back to 2010.

Linky

Boilerman

Feb 2, 2015
10:36pm

Block User

This was inevitable. The judge will find in favor of Appaloosa Mgmt and there will be no findings of criminal behavior.

Once the movement of certain assets to a second operating group is reversed by the judge, the debt reduction negotiations will begin between Caesars and it's creditors.