Legal eagles to help Caesars in fight with debtholders

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

Caesars Entertainment (CZR -1.2%) hires notable legal firm Kirkland & Ellis to advise one of its key units on how to reconfigure $17.4B of debt, according to Bloomberg.

The company is need of legal advice with key bondholders fighting it tooth and nail over the move of several of its properties into affiliate Caesars Acquisition Co. (CACQ +0.2%).

Debt issues have been a serious overhang on Caesars all year. Shares are down 21.6% YTD.