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Thu, Jan. 21, 10:11 AM
- Caesars Entertainment (NASDAQ:CZR) is down 9.1% to $5.70 after reports emerge that a report from a court-appointed bankruptcy examiner will allege the company made fraudulent asset transfers.
- The report is expected to be released in the middle part of February with some information and names redacted.
- Previously: NY Post: Caesars Entertainment to be slammed in examiner report (Jan. 21 2016)
Wed, Jan. 20, 10:40 AM
- Casino stocks are getting battered as the cases for revenue recoveries in Macau and Las Vegas start to crumble. Analysts note that the correlation between stock market turmoil and a drop in VIP casino traffic is hard to ignore.
- Major losses are being racked up by Wynn Resorts (WYNN -10.1%), Melco Crown (MPEL -9.7%), MGM Resorts (MGM -9.5%), Las Vegas Sands (LVS -8.7%), Caesars Entertainment (CZR -8.3%), Boyd Gaming (BYD -8.2%), Century Casinos (CNTY -7.6%), Pinnacle Entertainment (PNK -6.8%), and Penn National Gaming (PENN -6.1%).
- Related ETF: BJK.
Sep. 24, 2015, 12:40 PM
Sep. 24, 2015, 11:46 AM
- Talks between Caesars Entertainment (CZR -14.3%) and a committee of junior bondholders have stalled, sources tell Bloomberg.
- The company is also facing stiff resistance from private equity backers Apollo and TPG Capital Management - two powerful players that want to hold a significant stake in the parent company.
- Shares of Caesars are down 26% over the last five sessions as a settlement outside of more court battling appears unlikely.
- Caesars Acquisition Company (CACQ -7.1%) is also fading.
Aug. 24, 2015, 10:00 AM
- Caesars Entertainment (NASDAQ:CZR) is up 0.3%, a major rally by today's broad market standard.
- The company announced a major settlement with a key investor group late on Friday.
- Previously: Caesars Entertainment works out deal with critical lending group (Aug. 22 2015)
Aug. 21, 2015, 12:45 PM
Aug. 18, 2015, 2:53 PM
- There's another fork in the road for the Caesars Entertainment (CZR -1.5%) bankruptcy reorganization quest.
- The company disclosed in a SEC filing that talks broke off with lenders due to negotiations grinding to a standstill on key matters.
- A deadline of November 15 is on the calendar for a new Caesars reorganization plan to be filed with the bankruptcy court.
- Shares of Caesars Acquisition Corp (CACQ -5.5%) are trade with volatility off the developments with the holding company.
- SEC Form 8-K
Aug. 5, 2015, 3:02 PM
- Caesars Entertainment (NASDAQ:CZR) rallies 9.6% after the company recorded what new CEO Mark Frissora called its best cash-flow margins since 2007.
- Frissora called the bankruptcy proceedings going on a "fluid" process.
- Caesars Entertainment earnings call transcript
- Previously: Caesars Entertainment beats by $0.10, misses on revenue (Aug. 4)
- Previously: Casino properties report results at Caesars amid legal wrangling (Aug. 4)
Jul. 24, 2015, 5:40 PM
Jul. 23, 2015, 8:26 AM
- The threat of bankruptcy now lingers around Caesars Entertainment (NASDAQ:CZR) after a devastating court ruling sent shares crashing late yesterday, down 40.7% at the bell.
- The company says it will fight the decision which puts it on the hook for hundreds of millions owed by its operating unit.
- Other stocks hit late yesterday by the Caesars drama include Caesars Acquisition Company (NASDAQ:CACQ) which fell -13.5% and PE-backer Apollo Global Management (NYSE:APO) with a -2.8% loss.
- CZR is down another 4.7% in today's premarket session.
Jul. 22, 2015, 3:11 PM
- A trading halt on Caesars Entertainment (NASDAQ:CZR) and Caesars Acquisition (NASDAQ:CACQ) has been lifted
- There is a report out from Debtire's Maria Chutchian that a judge in the bankruptcy case has denied a motion by Caesars to halt litigation in New York and Delaware.
- Previously: Deal with lenders sends CZR and CACQ flying (Jul. 21 2015)
- Previously: Caesars fights to avoid bankruptcy (Jul. 22 2015)
- CZR -52.6% and CACQ -25.2%.
Jul. 22, 2015, 12:45 PM
Jul. 21, 2015, 12:45 PM
Jul. 21, 2015, 10:31 AM
- Caesars Entertainment (NASDAQ:CZR) is up 16.6% and Caesars Acquisition Company (NASDAQ:CACQ) is 7.1% higher after a significant deal with lenders was struck last night.
- The development will eliminate some of the legal roadblocks standing in front of Caesars in addition to reducing the overall debt load.
- Previously: Caesars Entertainment reaches deal with lenders
Jun. 9, 2015, 5:37 PM
Jun. 5, 2015, 1:30 PM
- Caesars Entertainment (CZR -12.3%) is sharply lower on more concerns litigation will hold back restructuring efforts.
- Creditors are battling to advance four separate lawsuits against the company over the transfer of assets to its operating unit.
- The timing of a ruling on the legality of the transfers isn't known.
- Shares of CZR reached a 52-week low of $5.95 before recovering a bit.
Caesars Entertainment Corp along with its subsidiaries is engaged in providing casino-entertainment and hospitality services. Its facilities include gaming offerings, food & beverage outlets, hotel & convention space, and non-gaming entertainment options.
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