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Stock Market & Financial Investment News

News Breaks
February 4, 2013
14:44 EDTCZRCaesar's may move assets into Caesars Growth Venture Partners, may sell stake
In a regulatory filing this morning, Caesar's Entertainment (CZR) said it is pursuing a strategic transaction that would see the company transfer certain of its assets to a newly created entity, named Caesars Growth Venture Partners, which would be a growth oriented vehicle focused on projects that are complementary to the company's existing properties. The company stated, "We anticipate that [Caesar's Entertainment Corporation] would own a significant portion of CGVPís equity interests and that subsidiaries of CEC would manage new casino properties owned by CGVP. We are pursuing this transaction because we believe it will improve our liquidity and credit profile, enhance our distribution network and provide additional support for potential new ventures...It is anticipated the Sponsors would participate in the transaction and that CECís other shareholders would have the opportunity to participate on the same terms." Among the assets that might be transferred into Caesars Growth Venture Partners, the company listed Planet Hollywood, its investment in a casino project under development in Baltimore, Maryland, shares of Caesars Interactive Entertainment and other holdings. Caesar's cautioned, "There are no commitments with respect to any such transaction and there have been no agreements with respect to price or value. The transfer of such assets would require the approval of regulators and other third parties, which we may not be able to obtain. Therefore, we cannot assure you that any such transaction will be entered into or consummated or, if consummated, describe the impact the transaction would have on us." In afternoon trading, shares of Caesars Entertainment are up 62c, or 7.94%, to $8.43.
News For CZR From The Last 14 Days
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July 29, 2014
14:38 EDTCZRCaesar's Entertainment August volatility elevated into Q2
Caesar's Entertainment August weekly call option implied volatility is at 62, August is at 55, September is at 49, December is at 48; compared to its 26-week average of 53 according to Track Data, suggesting large near term price movement into the expected release of Q2 results.
July 25, 2014
09:32 EDTCZRNevada reports June statewide gaming win up 14.4% to $906.9M
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