Monthly Archives: January 2016

Investigator finds ‘degree of civil fraud’ in Caesars’ pre-bankruptcy transactions

Casino operator Caesars Entertainment has been warned that the judge overseeing the bankruptcy of its main unit could force the process into liquidation.

On Wednesday, US Bankruptcy Court Judge Benjamin Goldgar warned Caesars that its main unit could be forced into liquidation proceedings if it continued efforts to block the release of a court-appointed examiner’s report into the company’s pre-bankruptcy transactions.

Caesars has been attempting to restructure its bankrupt main unit Caesars Entertainment Operating Co (CEOC) for a year now but junior creditors are fighting the company’s plan to force them to bear the brunt of slashing CEOC”s $18.4b debt in half.

The bankruptcy process has also been held up waiting for a report by former Watergate prosecutor Richard Davis into allegations that Caesars improperly (a) reneged on billions in debt obligations and (b) stripped CEOC of its most lucrative assets – including its online gaming division – prior to filing for bankruptcy in order to shield them from claims by junior creditors.

Investigator finds ‘degree of civil fraud’ in Caesars’ pre-bankruptcy transactions

Casino operator Caesars Entertainment has been warned that the judge overseeing the bankruptcy of its main unit could force the process into liquidation.

On Wednesday, US Bankruptcy Court Judge Benjamin Goldgar warned Caesars that its main unit could be forced into liquidation proceedings if it continued efforts to block the release of a court-appointed examiner’s report into the company’s pre-bankruptcy transactions.

Caesars has been attempting to restructure its bankrupt main unit Caesars Entertainment Operating Co (CEOC) for a year now but junior creditors are fighting the company’s plan to force them to bear the brunt of slashing CEOC”s $18.4b debt in half.

The bankruptcy process has also been held up waiting for a report by former Watergate prosecutor Richard Davis into allegations that Caesars improperly (a) reneged on billions in debt obligations and (b) stripped CEOC of its most lucrative assets – including its online gaming division – prior to filing for bankruptcy in order to shield them from claims by junior creditors.

Flood appeal gets 75,000 funding boost from People's Postcode Lottery

Foundation Scotland has benefitted from the major cash boost from the People’s Postcode Lottery, taking the total raised so far to more than A 250,000. The Foundation will distribute funds to support local relief efforts such as support, information and care services to community organisations affected by the floods.

Flood appeal gets 75,000 funding boost from People's Postcode Lottery

Foundation Scotland has benefitted from the major cash boost from the People’s Postcode Lottery, taking the total raised so far to more than A 250,000. The Foundation will distribute funds to support local relief efforts such as support, information and care services to community organisations affected by the floods.

Amaya says it expects 2015 earnings at top end of previous guidance

Canadian online gambling operator Amaya Gaming says its 2015 earnings will likely come in at the top end of previous forecasts.

In a fiscal update issued on Thursday, Amaya said it expects revenue, adjusted earnings and pro forma adjusted net earnings to all fall “within the upper end” of previously issued guidance. In November, Amaya said FY 15 revenue would come in between C$1.29b and $1.34b, while earnings would range from $552m to $572m.

For the record, those November figures represented a reduction from previous guidance, which had revenue coming in between $1.45b and $1.56b, while earnings were supposed to range from $600m to $650m.

Amaya said there were no material changes to the assumptions used to determine either the November guidance or the latest update. Amaya has yet to set a date to reveal its official Q4 and FY 15 numbers.

Check Your Tickets: Multiple Million Dollar Winning Tickets Still Unclaimed

The Connecticut Lottery is urging residents to check their old tickets because several winning tickets, including two $1 million and one $2 million winner, are still unclaimed. From the then-historic Powerball drawing on Jan. 9, both a $1 million and a $2 million winning ticket have gone unclaimed, according to Connecticut lottery officials.

Check Your Tickets: Multiple Million Dollar Winning Tickets Still Unclaimed

The Connecticut Lottery is urging residents to check their old tickets because several winning tickets, including two $1 million and one $2 million winner, are still unclaimed. From the then-historic Powerball drawing on Jan. 9, both a $1 million and a $2 million winning ticket have gone unclaimed, according to Connecticut lottery officials.

Century Casinos, Inc. (CNTY) Stock Rating Lowered by Zacks Investment Research

According to Zacks, “Century Casinos,Inc. & its subsidiaries,own & operate a limited-stakes gaming casino in Cripple Creek,Colorado & are pursuing a number of additional gaming opportunities internationally & in the U.S.The Company was formed to acquire ownership interests in,and to obtain management contracts with respect to,gaming establishments.The Company generally seeks to enter into gaming operations in areas with attractive demographic attributes,high population densities,local tourism and/or predictable traffic patterns,w/ the long-term objective of establishing geographic project diversification. ” A hedge fund recently bought a new stake in Century Casinos stock.