Caesars Moves Forward to Reduce its Gaming Debt

caesars-atlantic-city-75x58Nevada based gaming company Caesars Entertainment Corporation has made moves to reduce its industry high $24.2 billion debt. In a press release on its website, the company announced that together with its subsidiary Caesars Entertainment Operating Company they made agreements with First Lien Creditors or beneficial holders of CEOC’s 11.25% senior secured notes by 2017, 8.5% senior secured notes by 2020 and 9% senior secured notes by 2020 in order to clear the path and start formal discussions with the First Lien Creditors.

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