Caesars Atlantic City Hit in $181K Heist. Two thieves robbed at gunpoint

Caesars Atlantic City Hit in $181K Heist. Two thieves robbed at gunpoint and got away with an increase of than $180,000 from Caesars Atlantic City on Monday.

Things aren’t great right now in Atlantic City. Casinos are shutting, revenues are dropping and profits are drying up after month month. It’s a time when resorts are carefully monitoring every buck that comes in and out of their balance books. Simply speaking, it’s concerning the worst time possible for the six-figure sum to go lacking from one associated with city’s casinos.

In accordance with police, two masked thieves walked out of Caesars Atlantic City with more than $180,000 on Monday after a smash-and-grab raid on the casino. The robbery apparently took place on Monday morning, though police did not immediately release much information about the facts of the crime. Based on United States Of America Today, trooper Alina Spies said that police were investigating the matter, but which they did not want to provide any information that might hinder the research that was underway.

Early Robbery morning

Local media, citing police sources, said that the robbery included two suspects whom entered Caesars Atlantic City around 6 am. One or more of them had a gun and pulled it before stealing two plastic boxes that contained the stolen cash. They then fled the scene in a motor car at approximately 6:20 am, according to a police bulletin.

The truth is being investigated by the New Jersey State Police Gaming Bureau, whic “Caesars Atlantic City Hit in $181K Heist. Two thieves robbed at gunpoint” の続きを読む

Caesars at War with Investors Over $24 Billion Debt

Caesars at War with Investors Over $24 Billion Debt

Caesars CEO Gary Loveman says their business shall perhaps not be held hostage by speculators.

The battle between Caesars Entertainment and its particular bondholders was ramped up a notch this week as the casino giant filed a lawsuit against a large part of its investors, claiming they have been wanting to impede the business’s efforts to restructure its financial obligation process, a process that is necessary to avoid bankruptcy.

Despite being the casino that is best-known in the world, Caesars’ long-lasting debt is colossal, standing at an industry all-time high of $23 billion, which outstrips the bankrupt city of Detroit. In May, the business announced a procedure of financial obligation restructuring, which, while not eliminating any long-term debt, would wipe out more than $1 billion of payments due in 2015.

The procedure, according to Caesars Chairman and CEO Gary Loveman, would ‘lay the building blocks for both significant de-leveraging and value creation at Caesars Entertainment.’

Provide Us Your Ears…and Everything Else

‘Upon conclusion of the credit facility amendment … Caesars will have added headroom under its upkeep covenant, providing Caesars with additional stability to execute its company plan,’ he added. ‘If Caesars successfully lists its equity securities, this separate listing should help facilitate the eventual raising of equity as well as obligation administration and debt decrease initiat “Caesars at War with Investors Over $24 Billion Debt” の続きを読む