Tue, Aug. 18, 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
Thu, Aug. 13, 12:30 PM
- Japanese media reports the Liberal Democratic Party in the nation has given up on efforts during the current Diet session to push through legislation to legalize casino gambling.
- The initiative is expected to be taken up at a special Diet session in the future.
- The LDP faces some resistance from coalition partner Komeito due to the opposition of many Buddhists to gambling.
- Potential Japan casino players: MGM Resorts (NYSE:MGM), Caesars Entertainment (NASDAQ:CZR), Wynn Resorts (NASDAQ:WYNN), Genting, Las Vegas Sands (NYSE:LVS), Melco Crown (NASDAQ:MPEL).
Wed, Aug. 5, 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)
Tue, Aug. 4, 4:15 PM
- Caesars Entertainment (NASDAQ:CZR) reports revenue increased 17% to $1.14B after factoring in the various entities in the holding company.
- Higher room revenue and an improved slot hold at Las Vegas properties factored in.
- Outside of Nevada, the Horseshoe Baltimore was impacted by civil unrest in the region during the quarter, while a smoking ban held back some traffic at Harrah's New Orleans.
- Previously: Caesars Entertainment beats by $0.10, misses on revenue
Tue, Aug. 4, 4:06 PM
Mon, Aug. 3, 5:35 PM
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Wed, Jul. 29, 11:55 AM
- Caesars Entertainment (CZR -0.8%) won't be able to speed up its appeal process in a bondholder case by going straight to the federal circuit court.
- U.S. Bankruptcy Judge Benjamin Goldgar denied the request.
- The company will be forced to battle at the district court level which increases the risk the case won't be heard before a judge in New York rules on liability.
Tue, Jul. 28, 12:07 PM
- Gaming revenue in Nevada fell 8.37% to $830.9M in June, according to the Nevada Gaming Control Board.
- Las Vegas Strip revenue was off 16.1% to $445.5M.
- An exceptionally strong month for baccarat a year ago made the comparison tough this year.
- Gaming Control Board report
- Related stocks: LVS, MGM, WYNN, FLL, CZR, BYD, OTCQB:TPCA.
- Related ETF: BJK.
Fri, Jul. 24, 5:40 PM
Thu, Jul. 23, 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.
Wed, Jul. 22, 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%.
Wed, Jul. 22, 12:45 PM
Wed, Jul. 22, 4:00 AM
- The bankruptcy drama at Caesars Entertainment (NASDAQ:CZR) will come to a head today, after a U.S. judge in Chicago rules whether the casino empire is shielded from a storm of litigation.
- Caesars put its largest unit in chapter 11 protection in January, rather than the whole company, preserving many investments of shareholders.
- Creditors argue that Caesars didn't act fairly ahead of the filing, since it transferred assets out of their reach, and stripped them of certain protections.
- CZR fell 6.5% in after-hours trading.
Tue, Jul. 21, 12:45 PM
Tue, Jul. 21, 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
Tue, Jul. 21, 4:17 AM
- Caesars Entertainment (NASDAQ:CZR) has reached an agreement with its lenders that will reduce its operating company's debt by about $10B, paving the way for new debt worth $8.6B.
- The deal will see Caesars Entertainment contribute an additional $200M of convertible notes to the second lien noteholders, and about 5% equity in company property to investors.
- CZR +1.5% premarket
CZR vs. ETF Alternatives
Caesars Entertainment Corpalong with its subsidiaries is engaged in providing casino-entertainment and hospitality services. Itsfacilities include gaming offerings, food & beverage outlets, hotel & convention space, and non-gaming entertainment options.
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