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Question of the Day - 10 May 2015

Q:
Recently my wife got a notice from the Illinois Bankruptcy Court about a Caesars creditors’ meeting. They don't owe her any money but she has a lot of Total Rewards comps. Is Caesars going to "dump" its customers’ comps to save money?
A:

Nothing of the sort. We took your concerns to Caesars Entertainment spokesman Gary Thompson, who replied that your wife’s credits "will remain on her account and she can continue to accumulate and/or redeem them as she sees fit." Furthermore, CEO Gary Loveman has made a public promise to preserve all Total Rewards point accruals and procedures.

Thompson explained that "current and former creditors, including players who have [Total Rewards] credits, vendors who now or previously did business with the company, employees, etc., are receiving notices mandated by the court saying if they have claims against the company they can file paperwork with the court. It’s a routine procedure in corporate bankruptcy cases and doesn’t mean the recipients of the notice necessarily have claims, only that they were involved with the company in some capacity at some time."

We hope that allays your worries.

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