The Nevada Gaming Commission unanimously approved a series of registrations and licensing that will enable the Caesars Entertainment Corp. to clear Nevada’s final regulatory hurdle while in bankruptcy, the Las Vegas Review-Journal reported today. Caesars has 47 properties worldwide, including nine in Las Vegas. Caesars CEO Mark Frissora, Tim Donovan, the company’s general counsel and compliance officer, and chief financial officer Eric Hession explained a merger of Caesars Entertainment Corp. with Caesars Entertainment Operating Co. and the emerging company’s exit from chapter 11 protection as well as registrations of subsidiary companies and LLCs and the licensing and suitability of several corporate officers, executives and key employees. Under terms of the bankruptcy emergence plan, outlined in an 839-page registration statement filed with the Securities and Exchange Commission last month, Caesars would separate nearly all of its U.S.-based real estate property assets from its gaming operations. Caesars Entertainment would continue to own and manage the gaming operations and the property assets would be held by a newly created real estate investment trust owned by some creditors.
