Seeking Alpha

Legal eagles to help Caesars in fight with debtholders

  • 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.
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