Hedge Fund Giant Trying to Take Caesars Entertainment Into Bankruptcy

Motley Fool – Even Caesars Entertainment’s (NASDAQ: CZR ) bankruptcy plans aren’t going to be a straightforward process, much like its operations since it became a public company once again. Today, hedge fund Appaloosa Investment LP and other second lien debt holders asked a bankruptcy court to approve an involuntary bankruptcy for the company’s largest subsidiary, known as Caesars Entertainment Operating Company.

This continues nearly a year and a half of asset transfers, lawsuits, and bankruptcy negotiations in a battle of giants in the world of finance. A lot is at stake for the biggest gaming company in the U.S., and some of the biggest players in finance have a lot riding on what happens next.

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