Caesars Entertainment Corporation has completed restructuring that sees its Caesars Entertainment Operating Company (CEOC) subsidiary emerge from bankruptcy with a new board of directors to lead the business forward.

The operator has also completed its merger with Caesars Acquisition Company, and believes it is now "positioned to further invest in its growth strategy and realize the benefits of a simpler and less leveraged capital structure".

"The conclusion of CEOC's restructuring leaves Caesars Entertainment with an expected enterprise value of approximately $20 billion based on yesterday's closing prices," Caesars president and chief executive Mark Frissora said. "With reduced leverage, increased free cash flow and the new REIT structure, we are positioned with a solid foundation to pursue a diversified growth strategy.

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