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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 17, 2014
15:36 EDTCZRCaesar's senior lenders drawn into debt restructuring talks, Bloomberg says
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September 12, 2014
14:07 EDTCZRNew Jersey reports August Atlantic City gaming win up 2.3% to $305M
New Jersey reports total Gaming Win from Atlantic City casino hotels and Internet gaming operations was $305M in August, compared to $298.1M in the same month of 2013 including discontinued operators Atlantic Club and Showboat, reflecting a 2.3% increase. Total Gaming Win from the current operators of casino hotels open for the entire month of August and Internet gaming operations was $289.9M in August. Internet gaming win was $10.5M in August, consisting of $2.2M in peer-to-peer win and $8.3M in other authorized games. As of August 31, 431,617 Internet gaming accounts have been created, up 6.5% from the 405,390 accounts as of July 31. 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 8, 2014
15:59 EDTCZRCaesar's engages in talks with bondholders Pimco, Elliott, Bloomberg says
Caesars Entertainment will commence talks with at least five senior bondholders to restructure the $26.7B debt of its largest unit, Bloomberg reports, citing two people with knowledge of the discussions. The senior bondholders, including Pimco, Elliott management, BlackRock, Bridge Capital, and Beach Point, have agreed to enter confidentiality agreements with Caesar to begin formal talks, the sources added. Reference Link
15:00 EDTCZRCaesar's engages in talks with bondholders Pimco, Elliott, Bloomberg says
September 5, 2014
11:25 EDTCZRCaesar's in talks on potential sale of Showboat, AP reports
Latitude 360 CEO Brent Brown said he has been in talks with Caesars Entertainment to potentially purchase the former Showboat casino in Atlantic City after Atlantic Properties also publicly expressed interest, reported Associated Press. Reference Link

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