Caesars Moves to Dump Debt

Caesars Entertainment Corporation announced that it will make available 10 million shares of common stock in an effort to get rid of some of its debt. According to the Las Vegas Review-Journal, the move could retire $4 billion of debt that is due later this year. It has $23.5 billion in long-term debt, which is the most in the casino-gambling industry. There reportedly was speculation that bankruptcy protection was a possibly in the company’s future if something wasn’t done to retire some of the debt. Caesars, one of the largest casino firms in the world, has brick-and-mortar properties all over…