Caesars bankruptcy filing expected this week
By Matt Jarzemsky, Peg Brickley and Kate O’Keeffe, Wall Street Journal
Caesars Entertainment Corp. ’s largest unit is preparing to file for bankruptcy protection as soon as Thursday, the final gambit of a yearslong attempt to salvage a soured buyout.
Caesars Entertainment Operating Co.’s Chapter 11 filing would launch the final stage of Apollo Global Management LLC’s effort to save some of its $1.7 billion investment in the company, which it took private in 2008 with fellow buyout firm TPG.
Caesars is the parent company of Harrah’s Lake Tahoe and Harveys in Stateline.