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Caesars' Bankruptcy Proceedings Under Threat

Caesars Entertainment's bankruptcy proceedings may be in jeopardy.

Reuters reports the banks that have lent Caesars money during the proceedings are unhappy with the reorganization plan that is being mooted for Caesars' casino operations.

They're challenging some of the compensatory figures they would receive as part of any bankruptcy settlement, and want guarantees that they would stay the same as what has previously been proposed.

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Originally, a trial was set for next month to agree to the terms of the bankruptcy proceedings, but now it looks as though that may need to be postponed.

Under the current terms of the bankruptcy plan, Caesars Entertainment would spin off a real estate investment trust that its lenders would control, and the remaining parts of the business would be controlled by creditors.

Casey Morell is the coordinating producer of Nevada Public Radio's flagship broadcast State of Nevada and one of the station's midday newscast announcers. (He's also been interviewed by Jimmy Fallon, whatever that's worth.)