Monthly Archives: July 2015

Cocked and Loaded Targets Sanford Stakes

Tremont Stakes winner Cocked and Loaded will try for a second straight stakes victory when he starts in the $150,000 Sanford Stakes (gr. III) on Saturday, July 25 at Saratoga Race Course.

Caesars stock plunges after bankruptcy judge refuses to quash creditor lawsuits

Casino operator Caesars Entertainment Corporation (CEC) saw its shares nosedive on Wednesday after a US Bankruptcy Court judge refused to quash lawsuits challenging the company’s controversial asset transfers.

On Wednesday, US Bankruptcy Court Judge Benjamin Goldgar rejected CEC’s request to freeze the lawsuits until the bankruptcy of CEC’s main unit is complete. Caesars Entertainment Operating Co (CEOC) filed for Chapter 11 bankruptcy in January, citing over $18b in long-term debt.

CEC has proposed a restructuring plan that would see CEOC reborn as two units – one to manage its casino operations and another to own the property on which those casinos stand. The plan has received the support of senior creditors but junior creditors – who stood to receive only pennies on the dollar after CEC reneged on debt obligations – were having none of it.

The lawsuits, which were filed in New York and Delaware, accuse CEC of ‘looting’ CEOC of its most valuable assets, which were transferred to other CEC divisions ahead of the bankruptcy filing. CEC is not presently part of CEOC’s bankruptcy but has expressed fears that CEC could be dragged into the legal mess if the lawsuits – which seek a combined $11b in damages – were allowed to proceed while the bankruptcy process was ongoing.

Went the Day Well to Stand in Uruguay

Grade III winner Went the Day Well, who finished fourth in the 2012 Kentucky Derby Presented by Yum! Brands (gr. I), has arrived in Uruguay and will stand for Las Zainas Farm, according to bloodstock agent Pablo Nunez.

Beholder Logs First Del Mar Breeze of Summer

A slew of graded stakes winners recorded timed workouts July 22 at Del Mar, highlighted by Spendthrift Farm’s two-time Eclipse Award winner Beholder.

Hazel Park Meet to End 10 Days Early

The Michigan Gaming Control Board has, at the request of Hazel Park Raceway, ordered an early end to the track’s meet, given the track’s lack of financial resources.

BC Events Highlight Santa Anita's Autumn Meet

Santa Anita Park’s 2015 autumn meet will be highlighted by six grade I Breeders’ Cup Challenge races, the Southern California track announced July 22.

Tepin Takes on Hard Not to Like in Diana

Robert Masterson’s Tepin will take on Hard Not to Like July 25 in the $500,000 TVG Diana Stakes (gr. I), both last-out grade I winners looking to add another event of the highest caliber to their resumes.