Caesars Entertainment Corp. announced that it will spin off some of its operations into a new growth-oriented company, which is expected to raise as much as $1.2 billion from shareholder investments. Caesars Growth Partners already has received a combined pledge of $500 million from Caesars owners TPG Capital and Apollo Management as capital for future projects. The new firm is set to take control of Caesars' interactive gaming operations, the Planet Hollywood Resort & Casino in Las Vegas and the Horseshoe Casino Baltimore, which is currently in development.

Related Summaries