How Will Caesars (CZR) Stock React To $1.75 Billion Refinancing Approval In Illinois?

NEW YORK (TheStreet) -- Caesars Entertainment Corp. (CZR) won approval for a $1.75 billion refinancing from Illinois casino regulators over the objections of some bondholders, Bloomberg reports.

Caesars has two properties in Illinois, giving regulators there authority over some transactions.

The company has struggled to cope with a slowdown in gambling and a debt load of more than $23 billion, the result of a 2008 leveraged buyout led by Apollo Global Management (APO) and TPG Capital, Bloomberg noted.

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Shares of Caesars Entertainmen are down -1.06% to $16.80.

CZR ChartCZR data by YCharts

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