Process allowing Caesars Ent. Corp. to emerge from bankruptcy moves forward
March 18, 2017 7:30 AM
by Robert Mann
The process allowing Caesars Entertainment Corporation (CZR) ("Caesars Entertainment") to emerge from bankruptcy moved forward Friday as the Maryland Lottery and Gaming Control Commission approved its proposed merger with Caesars Acquisition Company ("Caesars Acquisition").
Completion of the merger is a crucial step to concluding the restructuring of Caesars Entertainment Operating Company ("CEOC").
Caesars Entertainment and Caesars Acquisition continue to work with respective regulators in jurisdictions where approvals are required for the merger and other aspects of CEOC's restructuring.
Regulatory approvals are needed to complete the merger as well as approval by stockholders of both companies. CEOC's restructuring is contingent upon the completion of the merger, certain financing activities, continuing oversight by the United States Bankruptcy Court and other customary closing conditions.