This week’s installment of Inside Gaming reports on Caesars Entertainment Corp.’s failed efforts to come to an agreement with its creditors (and the possibility of the parent company declaring bankruptcy), the Las Vegas Sands abandoning its attempt to enter Florida, and the Showboat Atlantic City changing hands for a second time since closing a year ago.
Caesars at “Impasse” with Creditors, Parent Company Could Face Bankruptcy
Yesterday Bloomberg Business reported that Caesars Entertainment Corp. had reached “a $2 billion impasse with creditors” according to sources familiar with ongoing negotiations. In addition, Caesars “lost the backing of another group of creditors” unwilling to extend another deadline for the company to manage further its industry-leading debt, all of which potentially pushes the parent company a step closer to the possibility of having to declare bankruptcy.