Caesars Entertainment Corp.’s largest unit replaced a key advisor working on its bankruptcy case in the wake of a personnel shakeup at Perella Weinberg Partners, the Wall Street Journal reported today. Caesars Entertainment Operating Co. has tapped Millstein & Co. to replace Perella as its financial advisor. The unit, which operates Caesars Palace Las Vegas and dozens of other casinos in the U.S. and abroad, filed for chapter 11 protection in January to slash its $18.4 billion debt load. Perella helped craft the unit’s debt-restructuring strategy ahead of the bankruptcy filing. The Caesars unit cut ties with Perella after bankers who were working on the restructuring left the firm.
