Caesars: Bankruptcy Imminent?

Caesars [formerly Harrah's] was the first partner of Suffolk Downs, salivating to invade East Boston....

Caesars' staggering debt was breathtaking - their entire cash flow going to debt payments.....




Caesars Bringing Senior Lenders To Bargaining Table, Stock Soars 13%

Oct. 19, 2014   About: Caesars Entertainment (CZR)by: Shock Exchange

Disclosure: The author is short CZR. The author wrote this article themselves, and it expresses their own opinions. The author is not receiving compensation for it (other than from Seeking Alpha). The author has no business relationship with any company whose stock is mentioned in this article. (More...)

Summary

• In early October Caesars' second-lien bondholders filed a notice of default.
• Caesars has 60 days to cure the default or be forced to pay off about $3.7 billion in second-lien debt.
• Friday the company started formal negotiations with first-lien bondholders to pare its debt.
• Bankruptcy, which could result in dilution to equity holders, appears imminent

http://seekingalpha.com/article/2573075-caesars-bringing-senior-lenders-to-bargaining-table-stock-soars-13-percent?source=email_rt_article_readmore&uprof=46