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Stock Market & Financial Investment News

News Breaks
March 26, 2014
13:20 EDTCZR, CACQCaesar's says will defend against insolvency allegations made against CEOC
Caesar's (CZR) disclosed in a regulatory filing that on March 21, the company along with Caesars Entertainment Operating Company, or CEOC, Caesars Entertainment Resort Properties, Caesars Acquisition (CACQ) and Caesars Growth Partners received a letter from a law firm acting on behalf of unnamed clients who claim to hold Second-Priority Secured Notes of CEOC, alleging, among other things, that CEOC is insolvent and that CEOCís owners improperly transferred or seek to transfer valuable assets of CEOC to affiliated entities. Caesar's stated: "CEC strongly believes there is no merit to the Letterís allegations and will defend itself vigorously and seek appropriate relief should any action be brought. If a court were to order rescission of the 2013 Transactions or enjoin consummation of the Contemplated Transaction that could cause CEOC, CERP and Planet Hollywood to default under existing debt agreements, and there can be no assurance that CEOCís, CERPís or Planet Hollywoodís assets would be sufficient to repay the applicable debt. In addition, if the Contemplated Transaction were consummated and a court were to find that those transfers were improper, that could trigger a default under the debt that Caesars Growth Partners is contemplating raising to finance such transfers. These consequences could have a material adverse effect on CECís business, financial condition, results of operations and prospects."
News For CZR;CACQ From The Last 14 Days
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January 30, 2015
15:32 EDTCZRCaesar's says not yet able to reach pact with lenders regarding restructuring
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09:33 EDTCZRNevada reports December Statewide gaming win down 8.1% to $950.69M
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January 29, 2015
09:23 EDTCZRSenate Health, Education, Labor & Pensions Committee to hold a hearing
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January 28, 2015
11:36 EDTCZRCaesar's unit bankruptcy proceedings to be heard in Chicago, Bloomberg says
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11:19 EDTCZRCaesar's up over 4% after venue win for unit bankrutcy
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11:10 EDTCZRCaesar's wins venue fight for casino unit bankruptcy, Dow Jones says
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January 26, 2015
17:20 EDTCZRCaesar's: CEOC announces expiration of consent period for Bank RSA
On January 26, CEOC announced the expiration of the process for seeking consents from lenders under CEOCís credit agreement to support restructuring of CEOCís outstanding obligations and liabilities, which included consenting to the form of Restructuring Support and Forbearance Agreement that was provided to the lenders. The consent period for the Bank RSA expired at 5:00 p.m., New York City time, on January 26, and the Bank RSA has not become effective per its terms. The expiration of the consent period for the Bank RSA does not affect the Third Amended and Restated Restructuring Support and Forbearance Agreement, dated as of January 14, among CEC, CEOC and holders of claims in respect of CEOCís first lien notes, which remains in effect since becoming effective per its terms on January 9, 2015, as previously disclosed by CECís and CEOCís Current Reports on Form 8-K filed with the Securities and Exchange Commission on January 9.
January 25, 2015
15:40 EDTCZRCaesar's sued for attempting to buy bank lendersí votes, Bloomberg says
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January 22, 2015
10:35 EDTCZROptions with decreasing implied volatility
Options with decreasing implied volatility: CZR ACHN NFLX SN NBR TLM CREE BBY LNCO BBRY

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