Somewhere, a fat lady is warming up her vocal cords, now that casino operator Caesars Entertainment has finally secured bankruptcy court approval to proceed with its restructuring.

Last Friday, Caesars informed the US Bankruptcy Court in Chicago that it had worked out a deal with the US Trustee’s office that clears the way for Caesars’ main unit Caesars Entertainment Operating Co (CEOC) to exit bankruptcy protection.

On Tuesday, US Bankruptcy Judge Benjamin Goldgar gave Caesars the go-ahead to proceed with CEOC”s restructuring plan, which will see CEOC split into two entities: a casino management firm and a real estate investment trust (REIT) to own the land on which CEOC’s casinos stand.

It’s been two years and two days since CEOC filed for Chapter 11 bankruptcy protection, citing $18.4b in long-term debt. Since then, Caesars has attempted to buy off junior creditors with pennies on the dollar, only to have those junior creditors retaliate by filing multiple lawsuits and pushing for a probe into Caesars’ hedge fund owners’ finances. The latter threat that prompted those hedge fund owners to miraculously find another billion or so in exchange for absolving themselves of responsibility for CEOC’s debts.