Caesars unit files Chapter 11 in bid to trim debt

Posted online January 15, 2015 | 6:42 am

A cash-strapped division of casino giant Caesars Entertainment Corp. said early Thursday it filed for bankruptcy protection in Chicago, hoping the court agrees to its plan to get out from under $18.4 billion of debt.

The division, Caesars Entertainment Operating Co., owns and operates most of its parent company's 50 properties worldwide.

According to The Associated Press, the properties will remain open during the bankruptcy proceedings.

Read more from The Associated Press.

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