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Stock Market & Financial Investment News

News Breaks
August 12, 2014
11:23 EDTCZRCaesar's secures consent to amend indentures for 2016, 2017 notes
Caesars Entertainment Corporation (CZR) and Caesars Entertainment Operating Co. announced a transaction to purchase and retire $238M of CEOC's outstanding 2016 and 2017 notes held by third parties, with such notes representing 51% of each such class not held by affiliates of CEC. CEC has also agreed to contribute to CEOC for retirement $393M of CEOC 2016 and 2017 notes currently held by CEC subsidiaries. As part of the transaction, CEOC received agreement for consents to amendments of certain terms of the notes and the indentures governing the notes, including a consent to the release of CEC's debt guarantee. The proposed transaction, which exemplifies CEOC's constructive and ongoing dialogue with creditors, will reduce CEOC's debt by $548M and cut interest expense by $34M annually. "The transaction we are announcing today is the latest in a series of steps intended to deleverage CEOC and position it for a potential stock listing. The transaction will reduce CEOC's leverage and interest payments," said Gary Loveman, Chairman and CEO of Caesars Entertainment and Chairman of CEOC.
News For CZR From The Last 14 Days
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September 30, 2014
08:43 EDTCZRApollo wins approval for transfer of Caesar's loyalty program, NY Post says
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September 26, 2014
09:33 EDTCZRNevada reports August statewide gaming win down 3.66% to $920.29M
Nevada reports August Las Vegas Strip gaming win down 6.08% to $553.19M. Publicly traded companies in the space include Boyd Gaming (BYD), Caesar's (CZR), Las Vegas Sands (LVS), MGM Resorts (MGM), Penn National (PENN) and Wynn Resorts (WYNN).
September 17, 2014
15:36 EDTCZRCaesar's senior lenders drawn into debt restructuring talks, Bloomberg says
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