Breaking News | Caesars Amends Debt Contract Paving The Way For January Bankruptcy

Caesars Entertainment Corp.’s operating unit amended a debt document so senior bondholders would get a lien on the casino operator’s cash as it negotiates a restructuring of $18.3 billion of debt, according to a filing yesterday with the U.S. Securities and Exchange Commission.

The move may raise the odds that the Las Vegas-based company files for a bankruptcy as soon as mid-January. A transfer of assets, including a pledge on cash, would have to be done at least 90 days before a Chapter 11 filing.

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