{"id":12716,"date":"2014-02-11T14:07:23","date_gmt":"2014-02-11T22:07:23","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/?p=12716"},"modified":"2014-02-11T14:07:23","modified_gmt":"2014-02-11T22:07:23","slug":"pr-wars-caesars-vs-caesars","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/pr-wars-caesars-vs-caesars\/","title":{"rendered":"PR Wars: Caesars vs. Caesars"},"content":{"rendered":"<p><a href=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2011\/03\/caesars_palace_expansion.jpg\"><img loading=\"lazy\" class=\"alignright size-full wp-image-5899\" alt=\"caesars_palace_expansion\" src=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2011\/03\/caesars_palace_expansion.jpg\" width=\"258\" height=\"157\" srcset=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2011\/03\/caesars_palace_expansion.jpg 258w, https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-content\/uploads\/2011\/03\/caesars_palace_expansion-150x91.jpg 150w\" sizes=\"(max-width: 258px) 100vw, 258px\" \/><\/a>It&#8217;s restructuring time again at <strong>Caesars Entertainment<\/strong>, but which Caesars? According to a <em>Bloomberg<\/em> interview with <strong>RBC Capital Markets<\/strong> analyst <strong>John Kempf<\/strong>, subsidiary <strong>Caesars Entertainment Operating Co<\/strong>. <a href=\"http:\/\/cdcgamingreports.com\/caesars-drops-on-reports-lazard-will-advise-on-refinancing\/\" target=\"_blank\" class=\"broken_link\">would trade second-lien debt for cash<\/a> (of which Caesars maintains it has plenty) and stock, plus the issuance of new debt. Caesars stock and high-yield debt stumbled on the news, which Kempf characterized as something &#8220;coming sooner rather than later.&#8221; <strong>Lazard Ltd<\/strong>. <a href=\"http:\/\/blogs.wsj.com\/privateequity\/2014\/02\/10\/caesars-entertainment-taps-restructuring-advisers\/?mod=yahoo_hs\" target=\"_blank\" class=\"broken_link\">had been retained<\/a> by Caesars to restructure its finances, <em>Debtwire<\/em> had reported.<\/p>\n<p>Caesars wouldn&#8217;t talk to <em>Bloomberg<\/em> but &#8221;\u00a0a person familiar with the matter but not authorized by the company to speak on its behalf&#8221; <a href=\"http:\/\/www.reviewjournal.com\/business\/caesars-subsidiary-hires-investment-bank-restructure-debt\" target=\"_blank\">spun an alternate-universe scenario<\/a> to the <em>Las Vegas Review-Journal<\/em>. According to this version of events, <!--more-->the affected entity is <strong>Caesars Acquisition Co<\/strong>., owner of <strong>Caesars Interactive<\/strong>, <strong>Planet Hollywood<\/strong> and<strong> Horseshoe Casino Baltimore<\/strong>. Either way, debt analyst <strong>Barbara Cappaert<\/strong> of <strong>KDP Investment Advisors<\/strong> was flummoxed: &#8220;<em>Why now? There is nothing new in Caesars capital structure that would suggest an immediate need to restructure &#8230; [near-term debt maturities]\u00a0are not too onerous<\/em>.&#8221;<\/p>\n<p>(Can you picture it? <strong>Gary Loveman<\/strong> saying to an underling, &#8220;I can&#8217;t authorize you to speak on my behalf &#8212; but if you do &#8230;&#8221;)<\/p>\n<p><strong>Of course<\/strong>, all this makes it utterly logical to bid on the biggest underachiever in the casino industry: <strong>Revel Resort<\/strong>. They&#8217;re no strangers to restructuring there, either.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It&#8217;s restructuring time again at Caesars Entertainment, but which Caesars? According to a Bloomberg interview with RBC Capital Markets analyst John Kempf, subsidiary Caesars Entertainment Operating Co. would trade second-lien debt for cash (of which Caesars maintains it has plenty) &hellip; <a href=\"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/pr-wars-caesars-vs-caesars\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[7,37,72,6,157,38],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/12716"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/comments?post=12716"}],"version-history":[{"count":1,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/12716\/revisions"}],"predecessor-version":[{"id":12717,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/12716\/revisions\/12717"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=12716"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=12716"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=12716"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}