US casino operator Caesars Entertainment said Tuesday that it is laying the foundation for both significant deleveraging and value creation at its subsidiary Caesars Entertainment Operating Co. (CEOC), with the company looking to pursue a public listing of its shares.

Caesars yesterday announced a series of steps designed to position CEOC for a stock listing and significant deleveraging, including plans to raise $1.75bn in new debt - the proceeds of which will be used to redeem all of CEOC's existing 2015 maturities and repay existing bank debt.

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