Caesars says enough creditors sign support deal to trigger fee payment

By Caroline Salls

Pittsburgh, Sept. 4 – Caesars Entertainment Corp. said creditors holding at least 66.66% of the first-lien bank claims against majority owned subsidiary Caesars Entertainment Operating Co., Inc. had executed the bank plan support agreement reached with the Caesars entities as of Sept. 4, according to an 8-K filed with the Securities and Exchange Commission.

As a result, Caesars said it is obligated to make the initial payment on a restructuring support agreement forbearance fee.

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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