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Thursday, January 15, 2015

Judge to hear request to put hold on Caesars bankruptcy, (NASDAQ: CZR)

A U.S. Bankruptcy Court in Delaware set a hearing for 10:30 a.m. Thursday to consider whether to put on hold a bankruptcy filed earlier in the day by the operating unit of Caesars Entertainment Corp. Hedge fund creditors led by an affiliate of Appaloosa Management filed an involuntary bankruptcy petition against the operating unit in Delaware on Monday. The creditors and want the Delaware court to put a hold on Caesars' voluntary bankruptcy filing in Chicago in favor of the Delaware case.

Caesars Entertainment Corporation, is a diversified casino-entertainment provider. Shares of CZR remained unchanged at $12.71. In the past year, the shares have traded as low as $8.51 and as high as $26.74. On average, 1563150 shares of CZR exchange hands on a given day and today's volume is recorded at 0.