The bankrupt operating unit of Caesars Entertainment Corp has agreed to allow creditors to access records through an independent examiner that is looking at pre-bankruptcy arrangements.
However, a judge said on Wednesday that he will wait till Monday to approve the agreement. As of late press time we had not seen the approval order today. Benjamin Goldgar, who is a bankruptcy judge that is in Chicago said that he will also decide if he will grant creditors requests in regards to the access of communications that determine the likelihood of success of the largest US casino operators restructuring plan.
In January, Caesars Entertainment Operating Co Inc. filed for bankruptcy Chapter 11 with a debt of $18 billion US dollars.
There have been some creditors that have said that the private equity owners of Caesars Entertainment Corp (Apollo Global Management and TPG Capital Management) pillaged the operating unit of its best casino in the lead up to its bankruptcy over the years.
These allegations are being investigated by an examiner on an order from Judge Goldgar.
Due to strong performance at Caesars Interactive Entertainment Inc., net revenues known as Continuing Caesars Entertainment Corp increased 21% pear on year to almost $1.01 billion US dollars.