Caesars Entertainment Operating Co. is the parent company for several subsidiary casino companies that operated more than 20 casinos across the globe. They have warned creditors that operations due to lawsuits by creditors could pose a significant threat to continuing their business.
Caesar’s has filed for Chapter 11 bankruptcy as of January 15, 2015. They have also undergone a restructuring plan in which certain assets were passed on to affiliate partners in an attempt, the company said, to maintain operations of their casino business.
Caesars Entertainment has voided a number of contracts recently in light of their struggling financial situation. However, creditors are still trying to seek some reparation for the cancelled contracts through lawsuits. Caesars Entertainment is likely to continue to be in the news until a decision is made on their financial troubles.