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Wilmington Savings Fund Society brings action against Caesars Entertainment Operating Company and related parties

August 2014

Client(s) Caesars Entertainment Corp. Noteholders

Jones Day was retained by Wilmington Savings Fund Society, FSB ("WSFS"), the indenture trustee for the second-priority senior secured notes issued by Caesars Entertainment Operating Company, Inc. ("CEOC"), a subsidiary of Caesars Entertainment Corporation ("CZR"). CZR's related entities together own and operate one of the country’s largest casino networks, with 39 casinos in 13 states, as well as online and social media gaming and foreign operations. Jones Day advised WSFS and certain noteholders with respect to their rights and remedies regarding numerous asset transfers by CEOC and its subsidiaries to entities related to CZR, including the proposed disposition of four casinos and related assets for over $2 billion announced by CEOC and CZR on March 4, 2014 and closed in May 2014, and their rights under CZR’s guarantee of the notes. On August 4, 2014, WSFS filed a complaint against CEOC, CZR, and several other parties in the Delaware Chancery Court.

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