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Caesars shares surge amid reports of bankruptcy plan

13th November 2014 8:10 am GMT

Shares in US casino operator Caesars Entertainment Corporation soared by more than 22 per cent in New York Wednesday following reports that the company had reached an agreement with senior creditors on a new debt restructuring plan which includes the bankruptcy of its operating subsidiary in January.

According to reports, the company would put its majority-owned Caesars Entertainment Operating Co subsidiary into Chapter 11 bankruptcy proceedings in January as part of a plan being negotiated [...]

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