Bankrupt Caesars unit owes celebrity chef Gordon Ramsay, Nobu restaurant chain | iNFOnews | Thompson-Okanagan's News Source

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Bankrupt Caesars unit owes celebrity chef Gordon Ramsay, Nobu restaurant chain

January 15, 2015 - 3:10 PM

It's no secret that a unit of casino giant Caesars Entertainment Corp. owes billions of dollars to lenders, hedge funds and investments firms stemming from a $30.7 billion buyout in 2008 that was paid for, primarily, with debt.

But a court filing from Caesars Entertainment Operating Co. on Thursday revealed a few recognizable people, places and companies that were still owed when it filed for Chapter 11 bankruptcy protection Thursday.

According to the filing, among the 50 creditors owed the most and listed as unsecured who would be among the last in line to be repaid are:

—Gordon Ramsay. The celebrity chef is owed $307,479. Gordon Ramsay Pub & Grill locations are inside Caesars Palace and planned for its Caesars Atlantic City property.

—Nobu. The restaurant chain co-founded by actor Robert De Niro has a location inside Caesars Palace in Las Vegas and is owed $459,964. It's also the brand attached to its own luxury hotel on the Caesars Palace property.

—Clark County. The Las Vegas Strip isn't in Las Vegas, it's in Clark County. The agency is owed $46.9 million for a bond issued in 2008 to move power lines underground on Caesars' land on Flamingo Road. A county spokesman says the county is working with Caesars attorneys to correct a mistake that listed the agency as an unsecured creditor even though the debt is secured, which would bump it up in line to be paid back.

—Charlotte Hornets. The basketball team is owed $393,750, according to the bankruptcy filing. A call to the team's executive offices wasn't returned. The team's chairman is NBA Hall of Famer Michael Jordan.

—Slot machine makers. International Game Technology is owed $28.5 million, Bally Gaming is owed $757,241, Aristocrat Technologies is owed $521,932.

News from © The Associated Press, 2015
The Associated Press

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