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Caesars wins key support to begin debt overhaul plan
January 9, 2015 / 2:32 PM / 3 years ago

Caesars wins key support to begin debt overhaul plan

Jan 9 (Reuters) - Caesars Entertainment Corp said on Friday it had garnered enough support from key creditors to carry out its $18.4 billion debt restructuring plan for its operating unit, which will soon file for bankruptcy.

Under the plan, the operating unit will be split into two companies, one that runs 44 casinos in 13 states and the other a property company.

The plan will reduce the debt associated with Caesars Entertainment Operating Co Inc to $8.6 billion from $18.4 billion. (Reporting by Tom Hals in Wilmington, Delaware; Editing by Jeffrey Benkoe)

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