Caesars Entertainment financial status recovers balance after bankruptcy preliminary deal.
US.- Whilst Caesars Entertainment, largest casino operator in the US, is still fighting a legal battle for its bankruptcy announcement, the preliminary deal could have helped to increase company’s shares about 20.7 percent.
Yesterday afternoon, shares of Caesars Entertainment jumped briefly to hit a fresh 52-week intraday high after a Bloomberg report that the company had reached a preliminary deal with its creditors on a new bankruptcy structure.
Caesars Entertainment reached as much as 33.8 percent after management announced an offer to reorganise bankrupt subsidiary Caesars Entertainment Operating Company (CEOC). Later that day, shares reported to be still up 20.7 percent.
Last Wednesday, Caesars and its equity backers released a proposal to offer US$1.6 additional billion to creditors of its casino operating units.