Caesars Entertainment Corp. and Caesars Entertainment Operating Company, Inc. (CEOC) and its chapter 11 debtor subsidiaries announced yesterday that substantially all voting creditor classes have voted to accept CEOC's proposed plan of reorganization, according to a press release. The plan was accepted by more than 90 percent of voting creditors. Each of the creditor classes for the debtors' first lien noteholders, first lien bank lenders, second lien noteholders, subsidiary-guaranteed noteholders, and unsecured noteholders voted to accept the plan in numbers well in excess of what is necessary to confirm the plan. The overwhelming support for the plan is an important milestone toward CEOC confirming its plan and emerging from bankruptcy protection in 2017.
