NEW YORK (TheStreet) -- Shares of Caesars Entertainment (CZR) - Get Report  were lower in mid-morning trading on Wednesday as the company's majority shareholders, Apollo Global Management (APO) and TPG Capital, are ignoring the Las Vegas-based casino and hospitality services company's plea for $990 million to help lift it out of bankruptcy. 

The private equity firms have refused to pay more money that would boost recoveries for second-lien bondholders, the only large group of Caesars creditors who have failed to sign onto an agreement reorganizing the bankrupt casino operator, Bloomberg reports. 

The money would help Caesars settle remaining lawsuits with its bondholders, the biggest hurdle in its efforts to resolve its bankruptcy, said Brendan Hayes, a financial adviser with Millstein & Co., in a Chicago court on Tuesday. Millstein & Co. was brought on as Caesars' financial adviser last year, Bloomberg noted. 

Caesars asked U.S. Bankruptcy Judge A. Benjamin Goldgar to extend a ban on the lawsuits, which Hayes said is crucial to making progress toward a settlement with creditors, Reuters reports. 

The private equity firms, Caesars and other parties face claims that a bankruptcy court examiner concluded could be worth as much as $5.1 billion. Caesars has offered stock, cash and new debt valued at $4 billion to settle the lawsuits and reorganize the company. 

Hayes said Caesars and a group of second-lien bondholders may need about 30 days to settle the dispute. The bondholders have more than half the $5.5 billion in second-lien notes issued by Caesars Entertainment Operating Co, Bloomberg reports. 

Caesars is the parent company of Caesars Interactive Entertainment and other subsidiaries. 

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:

We rate CAESARS ENTERTAINMENT CORP as a Sell with a ratings score of D. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income and feeble growth in its earnings per share.

You can view the full analysis from the report here:

CZR

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