Caesars Entertainment Corporation Allegedly Settles Lawsuit With Creditors?

• Brian Jeacoma
• August 20, 2016

At PlaySlots4RealMoney.com, we are your number one source for the latest casino gambling news online. Interestingly, Caesars Entertainment Corporation (Nasdaq Symbol CZR) trades at $7.72. According to the official Nasdaq site, this is the price at the close of the stock market on Friday, August 19, 2016. Furthermore, it appears the price drop happens after the news that they allegedly settled the lawsuit that they had with their creditors according to an article in the Wall Street Journal.

Based on of Las Vegas Nevada, the American gaming corporation giant that owns over 50 casinos and hotels. Also, they own 7 golf course. Furthermore, they convince one of their junior creditors to drop their suit with the alleged agreement. As a result, they can restructure some of their debt.

So, Caesars Entertainment Corporation Allegedly Settles Lawsuit With Creditors?

Ultimately, this news has come long after they’re supposed $4 Billion dollar offer to their CEOC Creditors. Furthermore, this is during the Bankruptcy Drama. However, it seems to continue in Chicago. In May 2016 a representative from Caesars casino stated “Caesars is now some $20 billion in debt and is attempting to reorganize the $18.4 billion currently held by CEOC. But CEOC’s junior creditors have rebelled, claiming that CEC fraudulently transferred many of CEOC’s best assets to itself and a tangled web of subsidiaries”

Putting ALl Their Eggs In One Basket

This may allow Caesars Entertainment Corporation to finally put all its eggs in the basket of their main operating unit, the Caesars Entertainment Operating Co. It has been about a year and a half since the disagreement started with their 2nd lien holders that are holding the casino giant to guarantee the CEOC debt. Find out if you can win real money playing slots games at Caesars over here.

Their Stock Is $8 Per Share

Caesars Entertainment Corporation, which is now trading at almost $8 a share took a big dive from their five-year peak on February 14, 2016, when their shares were trading at $25.96. One of Caesar’s parent companies Apollo Global Management and TPG has allegedly been left with very little assets and debt.

This new plan is mostly based on shareholder Frederick Barton Danner dropping his lawsuit in New York State Federal Court. {Ceasars} representative Barton Danner allegedly stated “We’re optimistic that the settlement will be consummated in conjunction with the successful reorganization of [CEOC],” said Barton Danner’s attorney, Gordon Novod, who added the settlement marks a “new and significant progress in the pursuit of remedies.”. On another note take a look at the Charms and Clovers video below!

Charms and Clovers

https://www.youtube.com/watch?v=HIWlkloPPAQ&feature=youtu.be

This will hopefully allow the Caesars Entertainment Corporation (Nasdaq Symbol CZR) to pay back money to creditors as well provide monies to Barton Danneras as well as the legal fees. We wish the best for them as well as their shareholders.