Caesars Entertainment Corporation and Caesars Entertainment Operating Company, Inc. (CEOC) have entered into a Bank Restructuring Support Agreement (Bank RSA). The agreement, which is effective immediately, secures the support of CEOC's largest and most senior creditor constituencies and represents a key milestone in Caesars Entertainment and CEOC's efforts to implement a consensual restructuring of CEOC. CEOC's restructuring is now supported by CEOC's First Lien Bank Lenders and First Lien Bondholders, which represent the most senior $12 billion of CEOC's capital structure.

Caesars Entertainment and CEOC continue to engage in discussions with junior creditors to build additional support for the previously announced Second Lien Restructuring Agreement in an effort to complete the restructuring consensually. However, the senior creditors' support of today's agreement paves the way toward a confirmable plan for the restructuring of CEOC. 

The Bank RSA is substantially similar to the previously announced Bond RSA. The Bank RSA and a summary of the transaction are available in the Media Resources section of the CEOC Restructuring Web site at http://www.ceocrestructuring.com/media-resources/.

Caesars Entertainment Operating Company, Inc. ("CEOC"), a majority owned subsidiary of Caesars Entertainment Corporation, provides casino entertainment services and owns, operates or manages 44 gaming and resort properties in 13 states of the United States and in five countries primarily under the Caesars, Harrah's and Horseshoe brand names.