The cost of the Caesars Entertainment Operating Co. bankruptcy investigation that dug up as much as $5.1 billion in potential legal claims has topped $40 million and is still climbing, the Wall Street Journal reported today. New bankruptcy court filings show examiner Richard J. Davis and his team charged nearly $25 million for work performed as the probe into CEOC’s dealings with its parent company heated up. The new round of bills brings the total cost of the investigation, launched in March 2015, up to $41.8 million. The cost of the court-ordered probe, borne by CEOC, is expected to climb further, as the latest bills only cover work performed between Oct. 1 and Jan. 31. A report on the investigation’s findings was released on March 15. That report concluded that Caesars Entertainment Corp. and its private-equity owners engineered a series of deals that hurt the company’s now-bankrupt operating unit and its creditors, resulting in potential damages of $3.6 billion to $5.1 billion.
