Caesars Entertainment Corp.’s bankrupt operating unit resolved a dispute with its lenders on Friday, paving the way for a consensual plan to push the casino group out of its $18 billion chapter 11, Reuters reported. In filings with the U.S. Bankruptcy Court in Chicago, bank lenders said that they had reached an agreement over their recovery terms and were withdrawing a threat to abandon a plan to end Caesars Entertainment Operating Co. Inc.’s two-year bankruptcy. The lenders, which include Blackstone Group LP's GSO Capital Partners, had set a Dec. 24 deadline for reaching a deal, without which the unit's restructuring plan would have fallen apart.
