Tag Archives: Caesars Entertainment Corporation

GVC strengthens Board’s expertise with two appointments

GVC Holdings has strengthened its corporate governance confirming the appointment of two new directors to its board. Issuing a statement, GVC revealed that David Satz has joined the company as an Independent Non-Executive Director, effective immediately. Robert Hoskin will also be promoted to the board as an Executive Director on 1 January 2021, assuming the role of Chief Governance Officer. …

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Crown Resorts agrees to CrownBet sale

Copyright: amasterpics123 / 123RF Stock Photo

Crown resorts has announced an agreement to sell its stake in CrownBet, as part of the company’s ongoing debt reduction strategy. The Australian gaming and entertainment group is to recoup AU$150m for its 62% interest in CrownBet, together with loans advanced by it to CrownBet. In a statement released to the Australian Securities Exchange (ASX), it was detailed that a …

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Potential end in sight for Caesars debt restructure

US business news sources have reported that the governance of Caesars Entertainment Corporation (CEC) are closing in on a final resolution with senior creditors relating to the $18 billion debt restructure of its ‘Caesars Entertainment Operating Company’ (CEOC).   90% of Caesars creditors are reported to have accepted terms relating to the CEOC debt reorganisation.  Furthermore, debt stakeholders have chosen …

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Caesars Entertainment keen on Toronto casino complex

Canadian business news sources have reported that Caesars Entertainment Corporation (CEC) is one of the bidding firms seeking to win the building rights for a casino complex in Toronto. CEC’s bid for a Toronto gaming complex, comes despite the company being embroiled in ongoing creditor disputes relating to subsidiary Caesars Entertainment Operating Company (CEOC) $18 billion debt. Nevertheless, CEC shareholders …

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Caesars Entertainment offloads Playtika to Chinese consortium for $4 billion

Embattled Caesars Entertainment Corporation (CEC) has agreed to sell its mobile and social gaming asset Playtika Studios to a multi-party Chinese consortium led by  Shi Yuzhu (Founder of Giant Interactive Group) in a $4.4 billion all-cash deal. Updating the market on Sunday, CEC governance stated that it had entered a ‘definitive agreement’ for the sale of Playtika a core part …

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Caesars Entertainment’s debt talks hit deadlock

Caesars Entertainment Corporation’s (CEC) year-long negotiations with creditors regarding the bankruptcy of its debt-burdened operations division ‘Caesars Entertainment Operations Company’(CEOC) has hit a deadlock according to mediator Joesph Farnan.   Updating Chicago’s bankruptcy court, Farnan detailed that negotiations were not progressing as CEC is unwilling to provide new concessions to its creditors. Furthermore, Farnan would detail that there would be …

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Caesars Entertainment eyes sale of interactive division for $4 billion

US business news sources have reported that embattled Caesars Entertainment Corp (CEC) are considering the potential sale of its ‘Caesars Interactive Entertainment’ (CIE) division. Investment bank Raine Group LLC have been appointed to lead the bid processes, with CEC governance targeting a reported $4 billion for its asset. Led by former Party Gaming PLC CEO Mitch Garber, CIE has become …

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Scott Longley – Caesars – An Infinite Jest…

One of the most fascinating bankruptcy filings in recent US corporate history, Scott Longley examines why so many Caesars stakeholders called its leveraged growth strategy wrongly. _________________________________  The denouement of the case brought against Caesars Entertainment Corporation (CEC) by its creditors in the bankruptcy court in Chicago produced a document that was commensurate with the size of the original buyout’s …

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Caesars Entertainment appoints Keith Causey as Chief Accounting Officer

Gambling and Entertainment operator Caesars Entertainment Corporation has announced the appointment of Keith Causey as Senior Vice President and Chief Accounting Officer. The casino operator announced that Causey is set to replace outgoing Accounting Officer Diane Wilfong. Causey will oversee corporate accounting responsibilities and internal auditing functions for Caesars Entertainment enterprises. The appointment will see Causey as a key figure in …

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