New York Post

Caesars offers a new deal

- Josh Kosman

Leon Black’s Caesars Entertainm­ent offered creditors a new restructur­ing deal Thursday — but it is largely the same old hand, creditors told The Post.

Caesars stock rose 1.7 percent on the news, to $7.95.

“It’s at best a marginally better deal,” a creditor said.

The nation’s biggest casino chain has put its largest unit, Caesars Entertainm­ent Operating Co., in bankruptcy and is trying to strike a deal with creditors to keep the rest of its operation outside the reach of angry creditors.

Success on that front is in the hands of a special examiner who is expected to rule later this year on a creditors’ claim that Caesars improperly transferre­d assets out of the bankrupt unit.

A ruling for the creditors could force the rest of the company into reorganiza­tion.

A ruling for Caesars could see its shares more than double, to better than $20, sources said.

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