Caesars Entertainment to file for bankruptcy – US

Caesars Entertainment, one of the most reputable casino developers in the United States, is actually experiencing critical financial hassles. The company is unable to discharge its liabilities of over $ 18 billion, official news reported. It has already filed a request to shelter under the US bankruptcy laws. That may come the possibility by which the company has been able to keep operating without worrying about its creditors’calls. As a reminder, Caesars Entertainment owned more than 50 casinos in 2013. It pulled in $ 8.9 billion in revenues. The most notable among its premises is the Las Vegas-based luxury complex, the Rio All-Suite Hotel & Casino, which regularly plays host to the internationally-reknown World Series of Poker.

Caesars Entertainment’s financial concern could have a substantial impact on this world-famed poker series, another reason that the world’s poker community is right to worry about. According to sources, the company is on the lookout to dispose of its assets, and that, in order to pay a portion of its debts. It remains to be seen whether it will also dispose of its its dear premise Rio All-Suite and the WSOP festival. If such an event occurs, the WSOP is likely to undergo significant change, especially in the way its schedule is set, and the game formats as well.

August 15, 2015 by : posted in CASINO, NEWS No Comments

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