Creditors largely opposed Caesars’ move to only include financially struggling resorts under the bankruptcy filing. But the decision to emerge from insolvency and put all of its US property assets into the REIT has thrown a bone to hedge funds and financial institutions looking to recoup their losses.<\/p>\n<\/div>\n
Properties that fell under the CEOC bankruptcy had few available resources to make upgrades to their resorts. With bankruptcy nearing completion, that will soon change.<\/p>\n
Although the company provided few details, Frissora, appearing with MGM CEO Jim Murren and New Jersey Governor Chris Christie, told reporters in June that both companies are readying themselves to make new investments in Atlantic City.<\/p>\n
\n“There’s not only stability but improvement that we’ve seen in our numbers in Atlantic City,” Frissora said at the time. “It’s helped us improve our operating results over the last couple of years, so we feel really good \u2026 and we continue to look at reinvestment.”<\/p>\n<\/blockquote>\n
In Las Vegas, Frissora informed the GCB that Caesars plans to build on 40 acres east of Bally’s and Paris, and is also developing projects on seven acres in front of its flagship Caesars Palace resort.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Nevada Gaming Control Board (GCB) on Wednesday approved Caesars Entertainment’s corporate restructuring plans to emerge from Chapter 11 bankruptcy. While explaining the company’s future, Caesars CEO Mark Frissora promised to deliver new jobs and economic prosperity to the Silver State as part of the deal. The Caesars boss revealed that the corporation plans to […]<\/p>\n","protected":false},"author":42,"featured_media":56430,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,18],"tags":[],"acf":[],"yoast_head":"\n
Nevada Gaming Regulators Give Caesars Go-Ahead Restructuring Plans<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n