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Casino: Caesars Entertainment is heading towards bankruptcy
Few people know that Caesars Entertainment, which owns the World Series of Poker has been experiencing serious financial difficulties for years. Its debts are huge, amounting to about $ 20 billion. Hence the battle between this casino games giant and its major creditors has been raging for months now. The stakes are high. Several options are being considered so that their respective rights would not be violated. In order to keep the group afloat, a key option has been discussed about, the main focus of which lead the company to sell some of its gambling establishments.
The latest case in point: "Caesars Entertainment approached PokerStars to purchase some of its stakes including Rio Casino in Las Vegas." This deal occurred last year but unfortunately it did not work because the leading online poker site refused the said proposal, thereby giving rise to growing concern of Caesars’ creditors. They actually fear a possible collapse of the company. Note that Caesars Entertainment Corp has reigned as the US leading gambling giant for decades.
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