Shareholders of two Caesars Entertainment operating companies will gather Tuesday at Caesars Palace for a pair of meetings that are expected to be brief but are critical to the resort giant’s emergence from chapter 11 protection after 2.5 years, the Las Vegas Review-Journal reported yesterday. Stock owners for Caesars Entertainment Corp. and Caesars Acquisition Co. and their representatives are scheduled to vote on a merger proposal that would make Caesars Acquisition the emerging company. The merger approval is a critical step toward the conclusion of the sometimes-heated proceedings that began Jan. 15, 2015, when the company went to bankruptcy court to request the reorganization of its finances. The plan enables the company to extinguish $10 billion in debt to creditors. Caesars Entertainment Operating Co. filed the reorganization plan that was approved on Jan. 17 by Hon. Benjamin Goldgar. The company cleared the final hurdle in January when it satisfied an objection from the U.S. Trustee by modifying certain legal protections granted under the plan.
