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Friday, January 9, 2015

Caesars wins key support to begin debt overhaul plan, (NASDAQ: CZR)

Caesars Entertainment Corp said on Friday it had garnered enough support from key creditors to carry out its $18.4 billion debt restructuring plan for its operating unit, which will soon file for bankruptcy. Under the plan, the operating unit will be split into two companies, one that runs 44 casinos in 13 states and the other a property company.

Caesars Entertainment Corporation, is a diversified casino-entertainment provider. Shares of CZR fell by 0.92% or $-0.13/share to $13.95. In the past year, the shares have traded as low as $8.51 and as high as $26.74. On average, 1648820 shares of CZR exchange hands on a given day and today's volume is recorded at 39892.