Caesars Entertainment Operating Company, the parent company of Horseshoe Southern Indiana casino in Elizabeth and Horseshoe Hammond, filed for Chapter 11 bankruptcy Jan. 15.

Caesars Entertainment said that all of its properties will continue to operate as normal, continuing to host meetings and events as well as providing the facilities, amenities and experiences its guests expect. Entertainers scheduled for performance will also continue as planned.

The company will move forward with a financial restructuring plan intended to significantly reduce long-term debt and annual interest payments.

“I am very confident in the future prospects of our enterprise, which will combine an improved capital structure with a network of profitable properties,” said Gary Loveman, chairman of CEOC.

Randall S. Eisenberg, a managing director at AlixPartners, has been named chief restructuring officer of CEOC. He will oversee the Chapter 11 cases and implementation of restructuring at the operating level.

Source: Inside Indiana Business