Caesars Palace News - Page 27

In a filing Wednesday with the SEC, Caesars dismissed as “meritless” a request from the Wilmington Savings Fund Society for immediate payment of $3.68 billion in principal and $185 million in interest.

“We need a debate in Congress,” the Arizona Republican said recently. “We need to have a talk with the American people, and we need to probably have hearings in Congress on the whole issue so we can build consensus.”

Mark Frissora can earn up to 150 percent of his base salary in bonus pay, has use of the company aircraft, and will receive “certain relocation benefits” for moving to Las Vegas, the SEC filing said.

The change comes less than a month after Caesars placed its largest operating unit into a pre-packaged bankruptcy to eliminate almost $10 billion in debt.

U.S. Magistrate Judge Peggy Leen found that "false and misleading statements" were made by FBI agents in a sworn affidavit they submitted in seeking a judge's permission to search the villas in July.

Allowing the case to proceed in Chicago is considered a victory for the company and its private equity backers, Apollo Global Management and TPG Capital.

The efforts by Caesars Entertainment Corp. to restructure 81 percent of its gaming industry-high debt will be a “drawn out” process, a Wall Street ratings service warned investors Thursday.

The pre-packaged filing covering Caesars Entertainment Operating Co. has been agreed upon by 80 percent of the company's senior bondholders.

An impressive variety of brand restaurants have debuted recently on the Strip, including Smashburger and New York City-based Shake Shack.

Paul Phua and his son, Darren Phua, were among eight defendants charged in a multimillion-dollar scheme that accepted wagers on the World Cup soccer tournament in Brazil last year.

It’s abundantly clear Caesars Growth Partners is key to the planned bankruptcy restructuring of overly leveraged affiliate Caesars Entertainment Operating Co.

Ahmad Zahid Hamidi, Malaysia’s minister of home affairs, sent a letter earlier this month to Deputy FBI Director Mark Giuliano in Washington rebutting FBI claims that the lead defendant in the high-stakes betting case is tied to a powerful Chinese crime syndicate

Caesars spelled out much of the reorganization plan, in which Caesars Entertainment Operating Co. would be restructured through a prepackaged bankruptcy in January.

Whatever this state does, it does big. When it booms, it leads the nation in growth. When it busts, well — that’s epic, too.

Lawyers for wealthy Malaysian businessman Paul Phua and his son, Darren Phua, are seeking to get evidence seized in a July 9 raid at luxury Caesars Palace villas tossed out of court.

Ricardo Lopez, who worked undercover for the FBI during the investigation, testified in federal court that a Caesars security officer who had tipped off authorities to the gambling operation told him a top company executive was complaining about not being in the loop of the investigation.

A top casino security officer testified Tuesday how his internal investigation led to an FBI raid on an alleged World Cup betting scheme operating out of luxury Caesars Palace villas.

The interest payment, due on second-tier debt covering its Caesars Entertainment Operating Co., business unit, has a 30-day grace period.

Shares of Caesars, traded in Nasdaq, fell $2.03 or 13.66 percent to close at $12.83.

Five people of seven accused in an illegal World Cup gambling venture to plead guilty.