Debtwire (and later the Wall Street Journal) reported today that Caesars Entertaiment (CZR) has recently hired Lazard as restructuring advisers. It is having problems with its heavy debt load (of over $20b) and is facing declining revenues. Las Vegas-based Caesars has struggled to recover from the recession and hasn’t posted a profit since 2009. The firm also appointed a new director, Don R. Kornstein, who has extensive experience working on restructurings, to serve on two committees.
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