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Caesars' Operating Unit Files for Bankruptcy, but Venue Unclear

4 years ago21 views

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Wochit

The operating unit of Caesars Entertainment Corp, the largest U.S. casino company, filed for Chapter 11 bankruptcy on Thursday to implement its plan to cut $10 billion of debt, but faced an immediate challenge over where the case should proceed.
The company said it has the support of its senior noteholders to implement the plan, which will reduce the operating unit's debt to $8.6 billion from $18.4 billion.

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