THIS IS AN ARCHIVE OF LAKE TAHOE NEWS, WHICH WAS OPERATIONAL FROM 2009-2018. IT IS FREELY AVAILABLE FOR RESEARCH. THE WEBSITE IS NO LONGER UPDATED WITH NEW ARTICLES.

Swiss bank buys 10.3 mil. shares of Caesars stock

Published: October 2, 2013  By: admin, In: News,  1 Comment
image_pdfimage_print

By Ed Komenda, Las Vegas Sun

Caesars Entertainment Corp. has sold 10.3 million shares of its common stock to a Swiss banking firm for $200 million, according to a filing with the Securities and Exchange Commission.

Credit Suisee Securities purchased the stock for $19.40 per share.

Tuesday’s sale follows the heels of the gaming giant’s Sept. 25 move to offer common stock to generate cash to pay down a mortgage loan.

Caesars is the parent company of Harrah’s Lake Tahoe and Harveys in Stateline.

Read the whole story

image_pdfimage_print

About author

This article was written by admin

Comments

Comments (1)
  1. Careaboutthecommunity says - Posted: October 3, 2013

    The article further states:

    “Caesars currently carries a debt load of $23.5 billion, the largest debt in the gaming business.”

    How much debt did the company have when the current management bought it?

    Their properties are in a state of decline, so the money is not going there. Are the owners using the company as a piggy bank, taking out loans against it to fatten their salaries/bonuses?