Caesars Palace News - Page 29

The case involves millions of dollars in illegal wagers accepted by the betting operation on the World Cup soccer tournament last year, according to prosecutors.

To mark the milestone, Caesars Palace and AEG Live have just announced plans for Elton to return to The Colosseum in October 2015.

The retirement plans were offered by businesses that were subsequently acquired by Harrah’s Entertainment in the company’s 2005 buyout of Caesars Entertainment for $9 billion.

The gaming industry has embraced REITs, which, by law, don’t pay federal income taxes.

U.S. District Judge Andrew Gordon immediately sentenced Phua, 23, to five years of unsupervised probation on condition he stay out of the United States during that period.

Caesars Chairman and CEO Gary Loveman said he wouldn’t answer questions regarding the status of the restructuring of Caesars Entertainment Operating Co.

The court upheld the Clark County District Court conviction of California businessman Harel Zahavi on four counts of drawing and passing a check without sufficient funds and with the intent to defraud.

Caesars will continue to manage the properties, which will remain part of the company’s Total Rewards player loyalty program.

In a filing with the SEC Monday, Caesars said BOKF N.A. asked for payment on $750 million in debt plus interest. Caesars said it turned down the payment demand.

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.