Caesars EntertainmentNASDAQ
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  • Today, 2:27 AM
    • Hedge fund Trilogy Capital Management, the last holdout bondholder of Caesars Entertainment's (NASDAQ:CZR) bankrupt operating unit, has agreed to support the casino group's restructuring and halt litigation.
    • The deal removes the threat of a judgment against Caesars, which was facing lawsuits by hedge funds including Trilogy over guarantees on its operating unit's bonds.
    • CZR climbed 2% AH on the news.
    | Today, 2:27 AM
  • Mon, Oct. 24, 8:24 AM
    | Mon, Oct. 24, 8:24 AM | 4 Comments
  • Thu, Oct. 20, 2:21 PM
    • Caesars Entertainment (CZR -1.7%) announces it extended a deadline to finalize certain documentation with some noteholders in connection to its reorganization plan.
    • The company says the extension will allow the participants additional time to resolve the remaining open items as they work toward a final agreement.
    • Source: Press Release
    | Thu, Oct. 20, 2:21 PM
  • Thu, Oct. 20, 9:23 AM
    • The credit deal worked out by Caesars Entertainment (NASDAQ:CZR) is under attack in court by a lawyer with the U.S. Trustee.
    • The U.S. Trustee has the ability to disrupt the deal by appealing it to a higher court above the Illinois setting.
    • Shares of Caesars have traded in a relatively narrow range around $7.50 to $7.80 over the last few weeks,
    | Thu, Oct. 20, 9:23 AM
  • Sat, Oct. 15, 10:23 AM
    • The Nevada legislature approved a plan to fund a domed 65K-seat NFL stadium in Las Vegas through a $750M hotel tax.
    • A group led by casino mogul Sheldon Adelson hopes to lure the Oakland Raiders to move to Las Vegas before the 2020 season. Adelson is backing the venture with $650M of his family's money.
    • Las Vegas already landed a NHL expansion team and is not anathema to NBA Commissioner Adam Silver who supports legalized sports gambling under a federal framework. Professional sports on or near The Strip are seen as another tourism driver.
    • Related stocks: CZR, CACQ, BYD, FLL, CZR, WYNN, MGM, LVS.
    • Related ETF: BJK.
    | Sat, Oct. 15, 10:23 AM | 9 Comments
  • Thu, Sep. 29, 11:17 AM
    • Casinos in Nevada reported that revenue fell 5.23% to $860.7M in August.
    • Revenue on the Las Vegas Strip fell 15% to $449.6M, while downtown Las Vegas casinos saw a 7% rise during the month to $43M. Revenue from Reno casinos was flat at $51M.
    • In a little bit of a sign of the times, Blackjack winnings ($81M) outpaced the Baccarat win tally ($74M).
    • Nevada Gaming Control Board full report (.pdf)
    • Related stocks: CZR, CACQ, BYD, FLL, CZR, WYNN, MGM, LVS.
    • Related ETF: BJK.
    | Thu, Sep. 29, 11:17 AM | 17 Comments
  • Tue, Sep. 27, 4:39 PM
    • Caesars Entertainment (NASDAQ:CZR) announces that it received confirmation from reps of its operating unit's major creditor groups on the key economic terms of a proposed Chapter 11 plan.
    • The company says it's optimistic that the indicated support received for the plan will allow the operating unit to obtain the required creditor votes to back the plan.
    • CZR +0.26% after hours to $7.69
    • Source: Press Release
    | Tue, Sep. 27, 4:39 PM
  • Tue, Sep. 27, 12:52 PM
    | Tue, Sep. 27, 12:52 PM | 4 Comments
  • Tue, Sep. 27, 9:16 AM
    | Tue, Sep. 27, 9:16 AM
  • Tue, Sep. 27, 8:19 AM
    • Caesars Entertainment (NASDAQ:CZR) says major creditors support the new plan and agreements covering the reorganization of its operating unit.
    • The company expects to obtain the necessary creditor votes to conclude the bankruptcy proceedings in 2017.
    • Shares of Caesars are down 5.50% in early premarket trading after a 26% pop over the last three sessions. Though the casino stock has been hard to get a handle on amid the legal morass, next year could bring some grounded analysis on the underlying business.
    | Tue, Sep. 27, 8:19 AM | 1 Comment
  • Tue, Sep. 27, 5:25 AM
    • Ending two years of rancorous court battles, Caesars Entertainment (NASDAQ:CZR) and representatives of its largest groups of creditors have struck a deal to fund a reorganization of the casino's bankrupt operating unit.
    • The new plan boosts the recovery rate foe second lien creditors, including Appaloosa Management, which have been among the toughest holdouts in the restructuring talks.
    • CZR +5.7% premarket
    | Tue, Sep. 27, 5:25 AM | 2 Comments
  • Mon, Sep. 26, 11:30 AM
    • Shares of Caesars Entertainment (CZR +0.1%) briefly crossed over $10. The casino stock hasn't seen a closing price in the double digits since early last year.
    • The company issued a statement today on the "significant" progress of its debt restructuring and the refinancing of its operating unit.
    • Caesars update: "Although there can be no assurance, Caesars Entertainment and CEOC remain optimistic that an agreement will be reached to permit Caesars Entertainment to continue to support CEOC's plan in conjunction with consensus among CEOC's major creditor constituencies."
    | Mon, Sep. 26, 11:30 AM
  • Mon, Sep. 26, 9:50 AM
    | Mon, Sep. 26, 9:50 AM | 1 Comment
  • Thu, Sep. 22, 11:22 AM
    • A major development on the betting scene is raising eyebrows in the global gaming industry. The NBA signed a deal with Sportradar to provide NBA data and video game feeds to gaming operators outside of the U.S.
    • Sources indicate the data deal is worth $250M over six years.
    • Detailed player tracking could open up new betting sports categories as the industry evolves beyond daily fantasy games.
    • Sportradar is a privately-owned company with PE backers and high-profile investors such as Michael Jordan and Mark Cuban on board. Here's the interesting twist: The NFL is also an investor and partner.
    • Efforts to legalize sports betting in the U.S. are breaking out in various forms, while in Las Vegas the welcoming mat for the Oakland Raiders and the NFL has been laid out.
    • Related ETF: BJK.
    | Thu, Sep. 22, 11:22 AM | 1 Comment
  • Thu, Sep. 22, 10:07 AM
    • Caesars Entertainment (NASDAQ:CZR) is up 6.5% to extend on yesterday's rally after the company moved closer to sorting out its bankruptcy woes by pledging more funds along with TPG and Apollo Global Management to creditors of its operating unit.
    • Shares of the casino operator trade at their highest level since June off enthusiasm over the deal.
    • It's still choppy waters for Caesars investors with a crucial court decision due out on October 5, according to a warning for SA contributor Joseph Bonaccorso.
    | Thu, Sep. 22, 10:07 AM
  • Thu, Sep. 22, 4:54 AM
    • Caesars Entertainment (NASDAQ:CZR) shares saw a bump of nearly 5% after the bell, following the company's joint proposal with Apollo Global and TPG Capital to offer an additional $1.2B to hold-out creditors of its bankrupt subsidiary.
    • Caesars Entertainment Operating Co. filed for Chapter 11 in January 2015, leading to a battle over the amount its parent company must pay to have it released from creditors.
    | Thu, Sep. 22, 4:54 AM | 1 Comment