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Bankruptcy Of Caesars Unit Racks Up $47 Million In Costs

LAS VEGAS (AP) — The bankruptcy of Caesars Entertainment Corp.'s debt-heavy subsidiary has racked up nearly $47 million in legal fees and expenses in about 4 1/2 months.

The Associated Press reviewed billings from 18 law firms, financial advisers, consultants and the casino company's creditors between Jan. 15 and May 31.

Caesars Entertainment Operating Co. is trying to shed some $10 billion of its $18.4 billion in debt, but the complex case has involved brokering a deal with different creditors and fending off litigation from some.

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The company announced Monday it brokered an agreement to get second-lien creditors on board with its restructuring plan. The company is due in Chicago bankruptcy court Wednesday and expects a ruling that will either halt lawsuits against Caesars Entertainment Corp. or let them proceed, potentially imperiling that company's finances, too.