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Oh Leads Day 1B

Day 1b is done and we have our final 10 players. Young Oh is leading the pack with 604,000, which puts him atop both starting flights. The player known as DD had the chip lead ...


Caesars To Issue $1.5 Billion In New Debt

Compan Intends To Use Money To Pay Off Other Loans

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Caesars Entertainment Corporation announced Monday that it’s seeking to issue $1.5 billion in new debt, with the intent to use the “net proceeds from the offering to repay certain outstanding term loans and to pay related fees and expenses.”

The press release also states:

“Caesars Operating Escrow LLC and Caesars Escrow Corporation, wholly owned unrestricted subsidiaries of Caesars Entertainment Operating Company, Inc., are proposing to issue $1,500.00 million aggregate principal amount of 9% senior secured notes due 2020.”

According to the Las Vegas Review-Journal, Caesars has nearly $20 billion in long-term debt — tops in the casino industry.

Caesars has the World Series of Poker under its umbrella of ownership, as well as Caesars Interactive Entertainment, which has a license in Nevada for web poker.

 
 
Tags: Poker Business,   Nevada,   Caesars