Caesars debt talks said to hit impasse
By Steven Church, BloombergBusiness
Caesars Entertainment Corp. is at a $2 billion impasse with creditors it hopes will help keep it from sliding into bankruptcy alongside its operating unit, two people familiar with the negotiations said.
The casino company and a committee of junior bondholders haven’t had substantive talks since last month, said the people, who requested anonymity because the negotiations are private. The bondholders are asking for about $2 billion more than Caesars has offered, according to a report by Bloomberg Intelligence analysts Philip Brendel and Julia Winters.
Caesars Entertainment is the parent company of Harrah’ Lake Tahoe and Harveys.