Alvarez & Marsal (A&M) was retained as financial advisor to the Examiner. After the bankruptcy filing, an Examiner was appointed to investigate and report on various CEOC pre-petition transactions. The Debtor engaged in a series of complex sales of casinos and intellectual property as well as financings and related party transactions in the years prior to the bankruptcy. In total, the Caesars gaming empire consisted of 43 casino properties, of which 28 were owned by CEOC.
(“Holdco” or “CEC”) which also owned casino properties through two other subsidiaries: Caesars Entertainment Resort Properties (“CERP”) and Caesars Growth Partners (“CGP”). CEOC was a subsidiary of Caesars Entertainment Corp. Caesars Entertainment Operating Company (“CEOC” or the “Debtor”), which owned and managed a number of Caesars’ casino properties, filed for bankruptcy protection in January 2015.
