Reno News - Page 8
Inside Gaming: Real estate investment trust concept could happen for MGM Resorts
9 March 2015
The gaming industry has embraced REITs, which, by law, don’t pay federal income taxes.
Caesars narrows loss, offers little details on bankruptcy9 March 2015
Caesars Chairman and CEO Gary Loveman said he wouldn’t answer questions regarding the status of the restructuring of Caesars Entertainment Operating Co.
Caesars sells 20 percent interest in Ohio casinos27 February 2015
Caesars will continue to manage the properties, which will remain part of the company’s Total Rewards player loyalty program.
Three win $10,000 first-place purses at Treasures of the Eldorado $50,000 Slot Tournament26 February 2015
Other awards included $500 for second through seventh place, $100 for eighth through 39th place and $50 for 40th through 49th place.
Caesars denies another request from second-level bond holder24 February 2015
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.
Caesars again rebuffs debt holders' request for payment19 February 2015
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.
Caesars new CEO to earn $1.8 million, eligible for bonus5 February 2015
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.
Caesars CEO Loveman stepping down in wake of bankruptcy5 February 2015
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.
Judge's ruling on Chicago court seen as win for Caesars29 January 2015
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.
Wall Street service warns Caesars restructuring will be 'drawn out' process23 January 2015
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.
Caesars places largest operating division into bankruptcy15 January 2015
The pre-packaged filing covering Caesars Entertainment Operating Co. has been agreed upon by 80 percent of the company's senior bondholders.
IGT and Wheel of Fortune ring in New Year with more than $2.7 million in wins12 January 2015
Two Wheel of Fortune players won million-plus jackpots, totaling more than $2.7 million over three days.
Major events underscore business news in Las Vegas in 201429 December 2014
Whatever this state does, it does big. When it booms, it leads the nation in growth. When it busts, well — that’s epic, too.
Caesars skips $225 million interest payment16 December 2014
The interest payment, due on second-tier debt covering its Caesars Entertainment Operating Co., business unit, has a 30-day grace period.
Analysts favor Caesars move to put key unit into REIT24 November 2014
Fitch Ratings Service said in a report, however, the spinoff won’t prevent Caesars from having to go through bankruptcy reorganization to restructure its $22.8 billion debt.
Online poker's Ultimate Gaming folds after 19 months17 November 2014
Ultimate Gaming employees were told of the shutdown Friday morning.
Caesars to trim nationwide workforce by less than 1 percent14 November 2014
The company, which operates nearly 40 casinos in 14 U.S. states and the Canadian province of Ontario, is attempting to restructure its gaming industry-high $22.8 billion debt.
Report: Prearranged bankruptcy for key Caesars unit as soon as January12 November 2014
Caesars has been in private talks with banks and lenders since September with the hopes of restructuring a portion of the debt.
Uber challenges court order; drivers still working27 October 2014
Donald Campbell, the company’s attorney, said he is challenging a court order barring the drivers from providing their ride-sharing service in the state until Nov. 7.
Atlantis see profits down in Q324 October 2014
Atlantis Casino Resort Spa profits have fallen in the third quarter.
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