Don't Hail Caesars
Caesars Entertainment (CZR) is a huge casino name: It operates 52 of them, 39 of which are located in the U.S., with nine in the U.K. It also has one-off properties in Uruguay, Scotland, Egypt and South Africa. 2012 revenue totaled about $8.8 billion.
Before this company announced some recent deals to sell off part-ownership from some of their properties, it was carrying a staggering $20.8 billion in debt. Caesars also announced a $1.5 billion refinancing bond at a 9% coupon rate. In a zero-interest-rate-policy (ZIRP) world, this rate tells you all you need to know about the riskiness of the paper....238 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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