Caesars Entertainment Corp. has an eye on expanding its Caesars, Harrah’s and Horseshoe brands in the United States and abroad after its casino operating unit emerges from nearly three years of bankruptcy as soon as today with $10 billion less in debt, Reuters reported. Industry analysts said it may be too late to catch up with rivals like MGM Resorts International, Wynn Resorts Ltd and Las Vegas Sands Corp that have spent years investing in high-growth Asian markets like Macau as U.S. gambling has cooled. Caesars has spent years struggling to manage more than $25 billion in debt, much of it taken on in 2008 when Apollo Global Management and TPG Capital led a leveraged buyout of the company. The operating unit filed for bankruptcy in early 2015. Caesars emerges from chapter 11 with a simplified structure by merging with Caesars Acquisition Corp. and other affiliates, and former creditors will hold a majority of the stock.
