BAD NEWS…

Caesars largest unit to file for Chapter 11 bankruptcy today

“Among its casino peers, Caesars’ empire remains the largest, employing some 68,000 people worldwide at more than 50 casino-hotels, including Caesars Palace on the Las Vegas Strip…

Unfortunately, Caesars has lost money each year for the last five years. The company faces irked creditors, a few who have tried to force the casino giant into bankruptcy against its will this week…

Eric Seiler, an attorney for the gambling company, told a Delaware corporate law judge Tuesday that Caesars Entertainment Operating Co. would file for bankruptcy “on or about” Thursday. Another person close to the company said it’s possible the filing could come as late as Tuesday, Jan. 20. Mr. Seiler’s comments came after a group of creditors sought Monday to force the unit into bankruptcy through an involuntary Chapter 11 petition. It isn’t clear where the unit will file bankruptcy papers.”

GOOD NEWS…

Southern Tier is the only contender for NY’s last casino license

“Dealing the final blow to those hoping for gambling at the former Nevele hotel in Wawarsing, the state’s Gambling Facility Location Board has said it will consider only Southern Tier applicants for New York’s last available casino license.”

HOPEFULLY, PLAN B NEWS:

– Jon Dogar-Marinesco