Generally speaking, Caesars will be able to emerge from bankruptcy through a merger with one of its subsidiaries – Caesars Acquisition Company. The combined entity will continue managing the operator’s casino operations. A specially created real estate investment trust will assume control over Caesars’ real estate assets. The REIT will be vested to creditors of the major casino and hospitality company.
Caesars
received the necessary approval from its shareholders in July and from Nevada
gambling regulators in August. The gambling regulators of Missouri and
Louisiana gave the company the green light in September. The approval from the
latter two was the last hurdle before the company’s exit from bankruptcy.
Caesars currently manages Harrah’s, Horseshoe, and
Caesars hotel and casino brands, among others.
