Creditors claim Caesars Atlantic City might be thrown into bankruptcy if Caesars can transfer their loyalty program.
Caesars Entertainment is investing much of the year that is last a variety of techniques built to reorganize debt and split the parts associated with company that are working from those that are taking a loss.
The company has found ways to keep its high performing or promising assets away from the massive debts plaguing the parent company though entities like Caesars Growth Partners.
That’s evidently what Caesars planned regarding their benefits program, called Caesars Enterprise Services.
Nevertheless now, hedge fund mogul David Tepper is among a team of bondholders that are searching to stop that transfer in an effort to keep the valuable program as part of the company that is main.
Already, four associated with the 12 casinos that were in operation from the beginning of 2014 have either shut down or intend to do so before the end of this summer time.
Regulators Consider Transfer
The battle comes after the private-equity organizations that own Caesars starting seeking approval from state video gaming commissions to transfer the rewards entity. On Thursday, it was expected that the newest Jersey Casino Control Commission would just take a vote on the move, but that was delayed until next month. Their state’s Division of Gaming Enforcement said that they are investigating the request, and have not yet det Continuar leyendo «Caesars Loyalty Program Transfer Can Cause A fight»