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
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, Jun. 9, 5:37 PM
Fri, Jun. 5, 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.
Fri, Jun. 5, 12:47 PM
Mon, Jun. 1, 2:41 PM
Mon, Jun. 1, 12:48 PM
Thu, May 7, 10:30 AM
- Caesars International (CZR +7.1%) trades higher after reporting results for a quarter impacted by the operating unit's bankruptcy filing.
- New properties in Las Vegas and Baltimore helped bring up the consolidated results for the units.
- Cost-cutting and gains in food/beverage margins also factored into the bottom line.
- Previously: Caesars Entertainment EPS of $52.06 (May 6)
Mon, Apr. 20, 12:47 PM
Thu, Apr. 9, 11:29 AM
- Macau gaming companies continue to consider opportunities outside of the Chinese gambling mecca with other regions forecast to see strong growth.
- Macau Resources Group and Sino Gaming/Macau Group are already in talks with regulators about new casinos in the Philippines, while Caesars Entertainment (CZR -0.2%) is also reportedly interested in the region.
- Singapore, Vietnam, and Japan are all being considered for new long-term projects by various companies.
- Casino stocks with a Macau presence are off and running today, despite more projections on dismal -36% to -40% Y/Y revenue slide for April.
- Turning the spotlight on other Asian markets may be doing the trick.
- Gainers: Wynn Macau (OTCPK:WYNMF, OTCPK:WYNMY) +7.7%, MGM China (OTCPK:MCHVF, OTCPK:MCHVY) Wynn Resorts (NASDAQ:WYNN) +3.9%, Las Vegas Sands (NYSE:LVS) +3.3%, Melco Crown (NASDAQ:MPEL) +3.2%, Galaxy Entertainment (OTCPK:GXYEF) +2.9%, MGM Resorts (NYSE:MGM) +1.6%.
Tue, Mar. 17, 1:11 PM
- The operating arm of Caesars Entertainment (CZR -4.6%) can void a number of deals as part of its bankruptcy.
- The ruling from the judge in the case doesn't allow Caesars to escape some advertising and sponsorship contracts because the parties weren't give enough notice.
- The bankruptcy proceedings have also weighed on Caesars Acquisition Company (CACQ -6.3%) which is a JV involving the parent company.
- Most of the concerns focus on how far a court-appointed examiner can go in looking at transactions Caesars has made prior to the filing.
Tue, Mar. 3, 10:09 AM
- Caesars Entertainment (CZR -5.6%) and Caesars Acquisition Company (CACQ -6%) both trade lower after earnings were reported yesterday.
- Investors don't seem to be dazzled by the cost-savings initiatives stressed by Caesars management and the overall tone during the conference call yesterday.
- A question on if Caesars could raise RevPAR through higher resort fees was met with a "we don't know" response.
- Some growing pains with the Linq complex and new Wheel attraction were also cited during the call.
- Caesars Entertainment earnings call transcript
- Previously: Caesars Acquisition EPS of $0.01 (Mar. 02 2015)
- Previously: Caesars Entertainment EPS of -$6.90 (Mar. 02 2015)
- Previously: Debt load keeps Caesars Entertainment in the red (Mar. 02 2015)
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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