Caesars Entertainment Corp. on Friday cited "substantial doubt" about the ability of the casino company's main operating unit to survive past next year without restructuring its debt, possibly through chapter 11 bankruptcy, Reuters reported on Friday. In a U.S. Securities and Exchange Commission filing, the company said that its Caesars Entertainment Operating Co. unit currently has enough liquidity to survive, but would need additional funding by the fourth quarter of 2015 "absent a refinancing, amendment, private restructuring, or a reorganization under chapter 11." Earlier this week Bloomberg News reported that Caesars was nearing a deal with Elliott Management Corp. and Pacific Investment Management Co., investment funds that own a large amount of the gaming company's senior debt, to back a plan to put the operating unit into bankruptcy in January.
