(Las Vegas, NV) — Caesars Entertainment has won support for its restructuring plan. Caesars says its largest lenders and first lien bondholders will support plans to convert its Caesars Entertainment Operating division into a real estate investment trust.
Caesars Entertainment Operating was placed into voluntary Chapter 11 bankruptcy protection in January.
The company says it’s still in talks with junior creditors, to win additional support for the plan. It would eliminate nearly ten-billion dollars in debt.