Caesars Entertainment has received approval from the New Jersey Casino Control Commission (CCC) to restructure its business operations in Atlantic City.
New Jerseys Casino Control Commission is allowing Caesars Entertainment to create a new operating division that will manage two of its three resorts in Atlantic City. (Image: Viviana Pernot/Press of Atlantic City)
The corporate maneuvering will eliminate $16 billion from the parent companys books and reduce its interest and lease payment liabilities by $807 million.
Under the approved reorganization, Caesars Entertainment Operation Company (CEOC), owners of Ballys and Caesars in Atlantic City, is allowed to lease operations of the two resorts to a newly formed real estate company.
The move c…
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