Key Takeaways
- A US District Court Judge will decide by the end of September if Caesars Entertainment Operating Co. will be able to shield its parent company Caesars Entertainment Corp. from creditors.
- CBS SportsLine, one of the market leaders in season-long fantasy sports, launched its daily fantasy sports product this week.
- According to reports, Reginald Jones-Sawyer’s AB 167 is scheduled for hearing on August 19.
- A compact between the Florida Seminole tribe and the state which allowed it to offer blackjack and other Las Vegas-style table games at its casinos expired on Friday.
Caesars
It was announced late last week that Caesars has reached an agreement with some of its biggest lenders that could allow voluntary bankruptcy proceedings to continue. The US District Court Judge will decide by the end of September if Caesars Entertainment Operating Co. will be able to shield its parent company Caesars Entertainment Corp. from creditors.
On Tuesday, Caesars Entertainment Corp. announced that revenues for Q2 rose 17.4% to $1,141 million. The increase was due in large part to the “strong performance at Caesars Interactive Entertainment (“CIE”),.” The company also noted strong results from The Cromwell and The Linq in Las Vegas as well as the Horseshoe Baltimore as contributing factors to the profitability.
