Caesars Entertainment Operating Unit Plans Chapter 11 Bankruptcy

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Caesars Entertainment Corp.'s debt-laden operating unit, Caesars Entertainment Operating Co. (CEOC), is working to finalize a restructuring plan for a prearranged bankruptcy filing and is hoping to get its bank lenders on board with the effort by early December, according to sources familiar with the situation. The Las Vegas-based casino operator and certain CEOC first-lien bondholder are still discussing and fine-tuning the plan and the nature of recoveries, while bank lenders are weighing their options, sources said. The Deal's David Marcus interviewed his colleague Lisa Allen about this issue. For more visit: www.thedeal.com