Caesars expects merger and restructuring to be completed by Friday

By Caroline Salls

Pittsburgh, Oct. 2 – Caesars Entertainment Corp. expects to be in a position to complete its merger with Caesars Acquisition Co. and conclude the restructuring of its Caesars Entertainment Operating Co., Inc. subsidiary (CEOC) by Friday, according to a news release.

As previously reported, Caesars Entertainment has now received approvals from all necessary gaming authorities related to the restructuring of CEOC and its emergence from bankruptcy, as well as approval of the stockholders of both the company and Caesars Acquisition for the merger.

Caesars Entertainment and CEOC continue to work toward finalizing financing activities and other transactions related to CEOC’s restructuring, the release said.

The merger is subject to customary closing conditions, including the completion of CEOC’s restructuring. CEOC’s restructuring is also subject to the completion of the merger, financing and real estate transactions, various internal and third-party transfers and other customary closing conditions.

Caesars is a Las Vegas-based casino-entertainment company that filed for bankruptcy on Jan. 15, 2015 in the U.S. Bankruptcy Court for the Northern District of Illinois. The Chapter 11 case number is 15-01145.

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