USA TODAY: A cash-strapped division of casino giant Caesars Entertainment Corp. said early Thursday that it filed for bankruptcy protection in Chicago, hoping the court agrees to its plan to get out from under $18.4 billion of debt.
The division Caesars Entertainment Operating Co. owns and operates most of Caesars’ 50 properties worldwide. Caesars CEO Gary Loveman said in a statement to announce the filing that its casino-hotels would remain open and continue to host meetings and events, assuring customers that their loyalty points would still accrue and the company’s lineup of on-stage entertainers would keep performing according to their schedules. Company officials say they intend to continue paying its suppliers in full…
More than 30,000 people are employed at Caesars Entertainment Operating Co.’s 38 casino-hotels, including Bally’s and Caesars in Atlantic City and the iconic Caesars Palace on the Las Vegas Strip… (more)
