A bankruptcy judge has allowed an arm of casino giant Caesars Entertainment Corp. to tear up contracts it had with the Kansas City Chiefs, a hotel in Louisiana and an audio company as it looks to shed millions of dollars of costs, The Associated Press reported yesterday. The deals involved renting a suite at the football team's stadium, buying a guaranteed block of rooms each month at the Springhill Suites next to the company's Louisiana Downs Racetrack and Casino for its patrons, and selling promotional space to Monster Inc. to market its audio products at Planet Hollywood. Hon. A. Benjamin Goldgar ruled last week that Caesars could void the agreements as part of its bankruptcy case, but that the company would have to try again if it wants to void agreements it has with the New York Mets, The Forum in Los Angeles and a motor coach company because it didn't give them enough notice last time. Caesars Entertainment Operating Co. filed for bankruptcy protection in January in an effort to shed some $10 billion in debt.
