LAS VEGAS, March 15, 2016 /PRNewswire/ -- Caesars Entertainment Operating Company, Inc. ("CEOC"), a subsidiary of Caesars Entertainment Corporation, today issued the following statement:
The Governance Committee of the Board of Caesars Entertainment Operating Company, Inc. (CEOC) is pleased that the Court-appointed, independent Examiner has completed his analysis of potential claims related to certain transactions involving CEOC that occurred in the years preceding CEOC's bankruptcy filing. This is an important milestone in CEOC's reorganization process. The issuance of the Examiner's final report completes an investigation that CEOC asked the Court to commence nearly a year ago to help CEOC reach a consensual deal among its stakeholders.
CEOC's Governance Committee appreciates the tireless efforts by the Examiner and his legal and financial professionals, who obtained and analyzed more than 8 million pages of documents and interviewed more than 90 witnesses to reach the conclusions set forth in the report.
With the Examiner's work now complete, CEOC is focused on a path towards emergence, anticipates filing an updated plan of reorganization shortly and will be seeking the scheduling of disclosure statement and confirmation hearings by the Court. As part of this process, CEOC continues to negotiate with stakeholders and has availed itself of a mediator to aid in building further consensus.
About Caesars Entertainment Operating Company, Inc.
Caesars Entertainment Operating Company, Inc. ("CEOC"), a majority owned subsidiary of Caesars Entertainment Corporation, provides casino entertainment services and owns, operates or manages 44 gaming and resort properties in 13 states of the United States and in five countries primarily under the Caesars, Harrah's and Horseshoe brand names. CEOC is focused on building customer loyalty through providing its guests with a combination of great service, excellent products, unsurpassed distribution, operational excellence and technology leadership as well as all the advantages of the Total Rewards program. CEOC also is committed to environmental sustainability and energy conservation, and recognizes the importance of being a responsible steward of the environment.
Michael Freitag / Aaron Palash
Joele Frank, Wilkinson Brimmer Katcher
SOURCE Caesars Entertainment Operating Company, Inc.