Trouble in Casinoland: Caesars, Revel, Trump Entertainment Resorts

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This week has been jam-packed with new developments from some of the troubled casino operators we're watching: Caesars Entertainment Corp., Revel AC Inc., and Trump Entertainment Resorts Inc. Caesars is considering turning its troubled operating unit into a REIT under a restructuring plan that is still current, sources told The Deal's Lisa Allen. Unfortunately for Revel, Atlantic City's newest casino, Brookfield Property Partners LP pulled its $110 million bid for the property. Sources told The Deal's Kelsey Butler that Brookfield walked away because one creditor, ACR Energy Partners LLC, refused to renegotiate $118 million in debt related to an adjacent power plant. Now, twice-bankrupt Revel's future is uncertain. Meanwhile, fellow Atlantic City casino operator Trump Entertainment Resorts' bankruptcy case may be converted to a liquidation, as a judge is considering that option. Lisa Allen has the details from New York. For more visit: www.thedeal.com