Caesars CEO eyes debt deal, says can finance $5B Japan expansion

|About: Caesars Entertainment (CZR)|By:, SA News Editor

Caesars Entertainment's (CZR +0.4%) Gary Loveman says the casino company likely will strike a debt restructuring deal with its bondholders within a year, and should also be able to finance an expansion into the Japanese market that would require at least a $5B investment.

CZR's debt carries a speculative grade rating, but the CEO says CZR's finances will not put it at a disadvantage as it seeks a license in Japan, where a bill to legalize casinos could be put to a vote in parliament this year.

CZR, Las Vegas Sands (LVS) and MGM Resorts (MGM) are among the global gambling operators pledging to spend billions of dollars to build resorts in what’s projected to become Asia’s largest casino market after Macau.