Caesars Entertainment unit files for Chapter 11 bankruptcy
Caesars Palace Hotel and Casino
New York - AFP
The main operating unit of troubled US casino giant Caesars Entertainment -- owners of the famed Caesars Palace in Las Vegas -- said it was filing for Chapter 11 bankruptcy protection.
Caesars Entertainment Operating Company said the move was part of a restructuring plan aimed at strengthening its financial position and slashing debt, but that all its properties would remain open for business.
Caesars employs about 68,000 people in casinos and resorts in the United States and worldwide and generated $8.56 billion in revenue in 2013, according to its website, but has lost money for the past five years.
CEOC said in a statement that under the restructuring plan it aimed to reduce debt by about $10 billion, slashing annual interest payments by about 75 percent to $450 million.j
GMT 09:51 2018 Tuesday ,23 January
French court throws out tax fraud case against JP MorganGMT 15:23 2018 Wednesday ,17 January
EU parliament calls for ban on electric pulse fishingGMT 05:55 2018 Saturday ,13 January
Greece strikes cause transport chaos, healthcare delaysGMT 09:36 2018 Friday ,12 January
Time over money? German union champions 28-hour work weekGMT 09:31 2018 Tuesday ,09 January
German metalworkers start strikes for 28-hour weekGMT 10:24 2018 Friday ,05 January
Lithuanian doctors rally for pay rise to halt exodusGMT 07:14 2017 Saturday ,30 December
German union steps up fight for 'modern' 28-hour weekGMT 06:51 2017 Friday ,29 December
Watchdog slams Lufthansa over 'algorithm' price hikes
With Job Cuts, China Deal
France's Carrefour revamps operations
Paris - Emiratesvoice
France's Carrefour group said Tuesday it is overhauling its business in a transformation plan involving thousands of job cuts, a product revamp and new partnerships in China. Carrefour, which was the world'sTo partake in Beiteddine Festivals
Singer Bruni arrives in Beirut Sunday evening
Beirut - NNA
French renowned singer and supermodel, Carla Bruni, is expected to arrive this evening at Rafic Hariri International Airport in Beirut, accompanied by her husband, former French President Nicolas Sarkozy. BruniIn France
Microsoft to open 4 data centres
Paris - Emiratesvoice
Microsoft is to open 4 data storage centers in France to meet strong customer demand for cloud computing, the head of the software giant's French operations told the Agence France-Presse onIn Olympic Spotlight
'Friendly and kind' N. Korean skaters
Taipei - Emiratesvoice
North Korea's figure skaters Ryom Tai-Ok and Kim Ju-Sik are "friendly and kind and a little bit shy", South Korea's Kim Kyueun said Tuesday ahead of their hugely anticipated Olympic appearance. The skater is competing with her partner Alex Kam in theFor $11.6 Bn
Sanofi buys US haemophilia treatment
Paris - Emiratesvoice
French pharmaceutical firm Sanofi said Monday it had reached an agreement to purchase US biotech company Bioverativ, which specialises in treatments for haemophilia and rare blood disorders, for $11.6 billion. Sanofi's chief executive Olivier Brandicourt said the acquisition "enhances its presence in specialtyParis show pays homage
to 'eternal style' of late Alaia
Paris - Emiratesvoice
Two months after legendary designer Azzedine Alaia's sudden death plunged the fashion world into mourning, an exhibition in homage to the "King of Cling" opens Monday in his studios in Paris. The Tunisian-born designer, renowned for the way his clothes hugged the body, died suddenly in November aged 82, reportedly of heart failure after falling down the stairs at his home. The diminutive maverick, who ignored fashion week convention by showing when and where he wanted, in July produced his first couture collection in six years to rapturous reviews. Now some of his most iconic dresses are going on display in the glass-roofed gallery next to his studio and home in the Marais district where he used to show his creations. It includes the dress worn by supermodel Naomi Campbell, his longtime friend and muse, when she led
GMT 10:16 2016 Wednesday ,23 March
cartoon five
GMT 10:21 2016 Wednesday ,23 March
cartoon eleven
GMT 10:31 2014 Tuesday ,23 December
Mirages of failure: Lebanon cannot waitGMT 15:46 2013 Tuesday ,09 April
Gunmen kill 12 peacekeepers and UN staff in South Sudan
GMT 22:47 2017 Wednesday ,21 June
Security forces hailed, terror blast condemnedGMT 11:29 2012 Saturday ,04 August
Amputee makes history
GMT 11:36 2012 Friday ,03 August
The Arab Spring and the Moroccan exception
GMT 17:54 2017 Tuesday ,28 November
US urges EU and Britain to pursue Brexit talks quickly
GMT 08:02 2017 Wednesday ,14 June
FNC Speaker highlights Sheikh Zayed's humanitarian legecy
GMT 09:05 2017 Monday ,06 March
Dubai resident prepares to become first Egyptian in space
GMT 14:41 2017 Thursday ,14 December
Looking back on Dubai’s dazzling Modest Fashion Week
GMT 12:15 2017 Tuesday ,24 October
Angola's 'kizomba' dance mesmerises the world
GMT 14:36 2016 Thursday ,16 June
Taking livestock to summer pasture in Xinjiang
GMT 00:01 2016 Thursday ,14 April
DP World chairman, Georgian Prime Minister discuss economic co-operation
GMT 10:11 2017 Saturday ,07 January
Five dead in Fort Lauderdale airport shooting
GMT 11:28 2016 Monday ,12 December
Magnificent seven for Hosszu at short sourse swimming worldsGMT 06:11 2011 Tuesday ,04 October
Busan film festival to open
GMT 06:17 2015 Tuesday ,28 April
Middle East musical rise on display
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor