U.S. casino operator Caesars Entertainment Corp is working with investment bank Lazard Ltd on a financial restructuring, a person familiar with the matter said. Bankruptcy is not an option on the table, the source told Reuters.Caesars, which operates the Caesars Palace and Flamingo casinos on the Las Vegas Strip, is saddled with more than $16 billion in debt, according to Thomson Reuters data.Caesars was taken private in 2008 by Apollo Global Management and TPG Capital in a leveraged buyout.TPG failed to comment when contacted while Apollo could not be immediately reached for comment.
Caesars Entertainment Corporation is a diversified casino-entertainment provider. Shares of CZR fell by 3.67% or $-0.83/share to $21.81. In the past year, the shares have traded as low as $10.40 and as high as $26.57. On average, 950164 shares of CZR exchange hands on a given day and today's volume is recorded at 2194842.
Lazard Ltd (Lazard) is a holding company. Lazard is a financial advisory and asset management company. Shares of LAZ fell by 0.71% or $-0.31/share to $43.24. In the past year, the shares have traded as low as $30.63 and as high as $48.70. On average, 498218 shares of LAZ exchange hands on a given day and today's volume is recorded at 454599.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 0.22% or $-0.08/share to $36.17. In the past year, the shares have traded as low as $29.33 and as high as $38.73. On average, 641255 shares of TRI exchange hands on a given day and today's volume is recorded at 889757.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 0.12% or $-0.05/share to $39.98. In the past year, the shares have traded as low as $29.40 and as high as $42.10. On average, 828957 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 709178.
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