{"id":1480,"date":"2017-12-20T17:03:43","date_gmt":"2017-12-20T22:03:43","guid":{"rendered":"http:\/\/www.realmoneygambling.com\/?p=1480"},"modified":"2017-12-20T17:03:43","modified_gmt":"2017-12-20T22:03:43","slug":"caesars-bankruptcy-sets-company-back-a-staggering-160-million-in-legal-fees","status":"publish","type":"post","link":"https:\/\/www.realmoneygambling.com\/news\/caesars-bankruptcy-sets-company-back-a-staggering-160-million-in-legal-fees\/","title":{"rendered":"Caesars Bankruptcy Sets Company Back a Staggering $160 Million In Legal fees"},"content":{"rendered":"
Photo Credit: calvinayre.com<\/figcaption><\/p>\n

Caesars Entertainment have been in and out of the news for a number of months now \u2013 and finally, it seems, their desperate bid to avoid bankruptcy appears to have come to an end.<\/p>\n

A recent court summary which was filed on Tuesday puts the 3-year-long battle to an end, with the company now legally required to pay up over $160 Million, with payments payable to six different law firms who all were involved in the lengthy legal proceedings.<\/p>\n

The biggest payday goes to Kirkland and Ellis, who will be awarded a generous $77 Million. The high-fees are likely to open a short-lived argument surrounding the fees charged by bankruptcy lawyers \u2013 but as the case is gambling related, it\u2019s unlikely there will be too much commotion, as members of the public generally are of the attuite that gambling companies are \u201cbeyond rich\u201d, and can brush these fees away without battering an eyelid.<\/p>\n

However, some are also saying that the $160 Million is letting Caesars Entertainment get off too easily; when they were first investigated to see if they\u2019d been hiding financial income from the IRS, it emerged that they had actually hidden billions of dollars in revenue \u2013 something that could well have led to criminal prosecutions \u2013 so the fact they got off with a $160 Million fine is, for some, just not enough.<\/p>\n

However, prosecutors and lawyers are likely to have thought things through, and realized that the chances of recovering anywhere near the amount of money owed was virtually impossible \u2013 so reaching a settlement that the group could pay seems like the smart move; after all, courts can dictate verdicts of however much money they want \u2013 but at the end of the day, if a company doesn\u2019t have the cash, they don\u2019t have the cash.<\/p>\n

The \u201cfinal nail in the coffin\u201d for Caesars Entertainment Corporation, it\u2019s certainly a shame to see a -once \u2013 reputable company in demise\u2026 and for many US players, the Caesars Entertainment name has been a pivotal name in the gambling scene, particularly in Las Vegas.<\/p>\n

However, their clear lack-of-thought for breaking the law, and trying to avoid paying tax cannot be ignored, and there appears to be no other feasible solution that would have seen a result any different from that delivered this week.<\/p>\n","protected":false},"excerpt":{"rendered":"Photo Credit: calvinayre.com Caesars Entertainment have been in and out of the news for a number of months now \u2013 and finally, it seems, their desperate bid to avoid bankruptcy appears to have come to an end. A recent court summary which was filed on Tuesday puts the 3-year-long battle to an end, with the […]","protected":false},"author":8,"featured_media":1485,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3],"tags":[9,10],"class_list":["post-1480","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry","tag-caesars","tag-caesars-bankruptcy"],"acf":[],"yoast_head":"\nCaesars Bankruptcy to be $160 Million In Legal fees<\/title>\n<meta name=\"description\" content=\"Caesars Entertainment have been in and out of the news for months now \u2013 and it seems their desperate bid to avoid bankruptcy appears to have come to an end.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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